Macro Outlook - 27 October 2025
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 peak). Gold reacts Up? (80D trough). Oil Up (new 80D cycle). USDJPY small Up? (->80D peak). SPX ES-minis (->80D peak) Stall. Nikkei (->20W peak) Down reversal. Bitcoin (-> 40D peak) small Up. 10 Year notes (-> 40D trough small Down.