Hurst Cycles Notes
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Macro Outlook - 20 July 2026

Macro Outlook Jul 20, 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 (80D trough). Gold Up (20D trough). Oil Up (->20D peak). Copper Down (-> 20D trough). USDJPY Down (->80D trough). EURUSD Down (-> 80D trough). SPX E-minis Down (-> 40D trough). Nikkei futures Down (-> 40D trough). Bitcoin Up (20D trough). US Treasury Notes Up (->20D peak).

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.

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