Macro Outlook - 21 April 2026

Macro Outlook Apr 21, 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 SmallDown (20D trough). Gold Up (->40D peak). Oil Down (->40D trough). Copper Up (->80D peak). USDJPY Up (80D trough). EURUSD Up (->40D peak). SPX E-minis Up (->40D peak). Nikkei Up (->40D peak). Bitcoin Up (80D trough). Ten Year Notes Up (->40D 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.