Marc Nemenoff gives his readers an insight into the decision making process of a professional trader and analyst with 35+ years of market experience. He covers the markets with which he has had the best success throughout his career with. Contact Mr. Nemenoff at (312) 264-4310
Financials: Sep. Bonds are currently 4 lower at 155’16, 10 Yr. Notes 4 lower at 126’25 and 5 Yr. Notes 2.5 lower at 118’12.5. Yesterday the Fed raised rates by 25 basis points as expected. Bonds and notes rallied sharply earlier in the session due to disappointing Retail Sales and Consumer Price data which were below expectations. We remain short 10 Yr. Notes from the 126’20 area with a downside objective of the 125’08-125’17 area.
Grains: July Corn is currently 3’0 lower at 374’0, July Beans 4’6 lower at 927’0 and July Wheat 1’6 lower 441’2. I still remain on the sidelines and feel there is some more downside potential before these markets draw my attention. I will be a buyer in Beans below 900’0. Next week we will be quoting Nov. and Dec. contracts.
Cattle: Live and Feeder Cattle have dropped sharply since my last “Report”. August LC are now below my initial target of 122.25 for short positions from the 124.00 level. If you remain short I recommend taking profits. I will be a buyer in Aug. LC below the 116.00 level.
Silver: July Silver is currently 40 cents lower at 16.73. If you used last week’s recommended protective sell stop at 17.23 against long positions, I recommend re-establishing long positions. A strong Dollar has helped push this market down $1.00 in the last week.
S&P’s: Sept. S&P’s are currently 16.00 lower at 2419.25. I am a cautious seller on rallies with a protective buy stop above the contract high at 2445.00. If the market trades below 2411.00 lower stops to 2429.00.
Currencies: As of this writing the Sep. Euro is 62 lower at 1.1211, the Yen 65 lower at 0.9101, the Pound 14 lower at 1.2772 and the Dollar Index 47 higher at 97.08. I will be a seller in the Euro above 1.1320 and a buyer in the Dollar Index below 96.00.
Questions? Ask Marc Nemenoff today at 312-264-4310
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Past results are not necessarily indicative of future results. Investing in futures can involve substantial risk of loss & is not suitable for everyone. Trading foreign exchange also involves a high degree of risk. The leverage created by trading on margin can work against you as well as for you, and losses can exceed your entire investment. Before opening an account and trading, you should seek advice from your advisors as appropriate to ensure that you understand the risks and can withstand the losses.
The information and data in this report were obtained from sources considered reliable. Their accuracy or completeness is not guaranteed and the giving of the same is not to be deemed as an offer or solicitation on our part with respect to the sale or purchase of any securities or futures. The Price Futures Group, its officers, directors, employees, and brokers may in the normal course of business have positions, which may or may not agree with the opinions expressed in this report. Any decision to purchase or sell as a result of the opinions expressed in this report will be the full responsibility of the person authorizing such transaction. Reproduction and/or distribution of any portion of this report are strictly prohibited without the written permission of the author. Trading in futures contracts, options on futures contracts, and forward contracts is not suitable for all investors and involves substantial risks. ©2017
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Past results are not necessarily indicative of future results. Investing in futures can involve substantial risk of loss & is not suitable for everyone.
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