Macro Outlook - 5 January 2026

Macro Outlook Jan 5, 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 (->20D peak). Gold Up (80D trough). Oil Down (->40D trough). Copper Up (-> 20D peak). USDJPY Down (->40D trough). EURUSD Down (->80D trough). SPX E-minis Up (40D trough). Nikkei Up (->40D peak). Bitcoin Up (80D 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.