Futures Trading Education

U.S. Indices closed mixed as the risk tone was mixed on Wednesday, with European Indices rallying across the board, but US Indices were mixed. The SPX, NDX, and RUT closed little changed, but the Dow Jones again saw strong outperformance thanks to upside in heavyweights UnitedHealth (UNH) and Goldman Sachs (GS). Cisco (CSCO) also saw upside ahead of earnings. Breadth was more positive with the RSP rising while sectors were mixed – Health Care, Financials and Materials outperformed, but Energy, Communication and Consumer Discretionary lagged. Tech was flat despite the upside in AMD (AMD) after its analyst day. Crude prices plummeted on Wednesday, with pressure seen in the wake of Tass reporting that Russia is open to speaking to Ukraine, while the latest OPEC MOMR raised oversupply concerns after 2025 and 2026 world oil demand forecasts were left unchanged, but the 2025 supply forecast was raised. Meanwhile, in the STEO, the EIA marginally revised up world oil production and demand forecasts for 2025 and 2026, all by 0.1 million BPD, aside from the 2026 production forecast, which was revised up by 0.2 million BPD. In FX, the Dollar was flat, while the Swiss Franc was strong while the Japanese Yen underperformed. Gold and Silver rallied while T-Notes bull flattened with cash trade resuming from Veterans Day, which saw the soft weekly ADP report on Tuesday. The NY Fed President (Williams) believes that it will not be long before they reach ample reserves, and when they do, they will resume gradual bond buying. Williams described it as an ‘inexact science’ to determine whether the reserves are ample. Williams called the renewed balance sheet expansion technical, not monpol. He is closely watching markets for liquidity signals and said the standing repo facility is effective and should be used when needed, even without stigma. The Atlanta Fed announced that Bostic will be retiring as President from the end of February 2026, when his term expires. He issued a speech thereafter where he emphasised that price stability remains the clearer and more urgent risk, favouring keeping the Fed Funds Rate steady until there is clear evidence that inflation is moving toward the 2% target. He described policy as marginally restrictive and signalled openness to changing stance if conditions shift. While the labour market is shifting rather than weakening, and real-time indicators show a curious state of balance, he sees no unambiguous signs of a cyclical downturn that would justify easing policy while inflation remains elevated. The Atlanta Fed President noted that core services and core goods prices remain high, and that inflation pressures—particularly from services ex-housing and firms’ pricing intentions—are expected to persist well into 2026. He warned against assuming a quick fade in inflation pressures, especially with tariff impacts and upward-drifting inflation expectations. Bostic also cautioned that surveys and other forward-looking indicators suggest inflation is unlikely to decline substantially for some time. That raises the concern that inflation expectations could drift upward and trigger behaviours which produce higher actual inflation. Elsewhere, Oil closed lower by 4.5% while Gold continued its latest move higher with a further gain of 1.67%.

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For anyone following my Platinum Service it lost 325 points yesterday and is now ahead by 2442 points for November, after ending October with a nice gain of 5110 points after closing September with a gain of 3774 points while ending August with a gain of 3362 points after closing July with a gain of 3753 points after closing June with a gain of 3530 points, having closed May with a gain of 3606 points, after closing April with a gain of 7685 points after closing March with a gain of 2254 points while closing February with a gain of 4180 points. January ended with a gain of 2768 points while 1997 points were gained in December. October ended with a gain of 2179 points, after closing September with a gain of 4402 points, following a loss of 301 points in August. July gained 1908 points while June saw a gain of 2074 points. The Platinum Service made a record 9619 points in October 2022.  Since I started this New Platinum Service in June 2015 it has averaged a monthly gain of over 2300 points. I have a YouTube Channel which contains recent interviews I have given This can be viewed by clicking