Macro Outlook - 19 October 2026

Macro Outlook Oct 19, 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 trough). Gold Up (40D trough). Oil Down (-> 20D trough). Copper Down (-> 40D peak). USDJPY Up (40D trough). EURUSD (-> 20W trough). SPX E-minis Down (-> 40D trough). Nikkei Down (-> 80D trough). Bitcoin Down (-> 40D trough). US Ten Year Up (18M trough zone).

Christopher Grafton CMT

Chris has been involved in the markets for 20 years. He is the author of Mastering Hurst Cycle Analysis and is an experienced working technician. Chris holds the CMT qualification.