Macro Outlook - 19 January 2026
You will come across specific terms in these notes (FLD, VTL, and so on). Rather than explain them each time, you will find definitions here: guidance notes for Hurst cycles terminology.
US Dollar Up (->40D peak). Gold Down (->40D trough). Oil Down (->20D trough). Copper Up (80D trough). USDJPY Up (40D trough). EURUSD Down (->80D trough). SPX E-minis Down (-> 80D trough). Nikkei Down (->40D trough). Bitcoin Down (->80D trough). Ten Year Notes Down (->80D trough).