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: Dec. Bonds are currently 5 lower at 155’03, 10 Yr. Notes 5 lower at 126’15 and 5 Yr. Notes 3 lower at 118’08.2. The market has rallied over the last week as traders sought safe haven as securities backed off and indicators showed a lack of inflation high enough to meet Fed target of 2.0%. Believing that the Fed will eventually start trimming its inventory of Bonds, Notes, etc. I am once again returning to the short side of the market should rally to the following resistance levels. Dec. Bonds 155’27, 10 Yr. Notes 126’26 and 5 Yr. Notes 108’16.
Grains: Dec. Corn is currently 0’2 higher at 356’0, Nov. Beans 4’0 higher at 942’0 and Dec. Wheat 3’2 higher at 433’2. We were stopped ot of a long Dec. Corn position when the market traded through the 356’4 level. For the moment I am on the sidelines.
Cattle: Live and Feeder Cattle continue to trade with high volatility. We remain long Oct. Live Cattle and/or spread long LCV7/short LCG8 of which both positions are currently at a loss. Cattle on Feed Report tomorrow at 2:00pm.
Silver: Sept. Silver is currently 11 cents lower at 16.935. I remain on the sidelines. I will be looking to go long Dec. Silver below 16.400.
S&P’s: Sept. S&P’s are currently 5.00 higher at 2446.50. Last weeks support of 2446.50 was broken as the market broke to 2422.00 establishing new support. If you remain short either lower your stop to 2463.00 or take profits.
Currencies: As of this writing the Sept. Euro is trading 19 lower at 1.1816.5, the Yen 32.5 lower at 0.91530, the Pound 20 lower at 1.2835 and the Dollar Index 10 higher at 93.170. We remain buyers in the Dollar Index with a protective sell stop at 92.500. Take profits above 94.11.
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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