Macro Outlook - 4 November 2024

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.

Into the US Presidential election tomorrow and we expect volatility, which could temporarily disrupt analysis conclusions. Eyes are on equity risk in particular and we look at the cyclic inflections in S&P 500 futures. Also of note is the turn that looks to be taking place in the US Dollar.