The Macro Brief - 2 September 2025

Analysis & Learning Sep 2, 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.

The Macro Brief is a brief excerpt from our weekly Macro Outlook newsletter. Today we have two instruments: the S&P 500 (ES futures) and Bitcoin.

General outlook: Gold, EURUSD both in 40 day cycle peak zone. US Dollar, Oil, Copper, USDJPY forming pro-trend 20 day cycle troughs. SPX E-Minis, 10 Year Treasuries at 80 day cycle peaks. Nikkei to 40 day cycle trough zone. Bitcoin 80 day cycle trough forming.

S&P500 E– Minis (ES) - 80 day peak zone. Down.

We believe that the 80 day cycle peak is in place now. Down.

Bitcoin - 80 day cycle trough zone. Up.

Bitcoin is in an 80 day cycle trough zone. Up.

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.