S&P500 Index Futures (ES) update - 10 April 2025

Macro Outlook Apr 10, 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.

S&P 500 Futures - nearing a 20 day cycle peak, then assumption is down again.

Announcements about US trade tariffs over the past week have provided event-driven volatility that Hurst described as 'fundamental interaction'. The cycles continue to beat through all the noise however as can be seen in this 240 minute chart:

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.