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: As of this writing Bonds are at 178’11 up 1’05 for. The week, 10 Yr.. Notes 138’31.5 up 0’06 for the week and 5 Yr. Notes at 125’18 up 0’01 for the week. Yields are down a few pips at 0.18 for the 2 yr., 0.30 for the 5yr., 0.67 for the 10 yr. and 1.42 on the 30 yr. I am still bullish these markets (negative yields). And feel that with the resurgence of covid 19 we could see the 2 yr. note go to a negative yield as the Fed needs to add more stimulus.
Grains: July Corn is currently 11’0 lower for the week are 325’0, Beans down 12’0 at 866’0 and Wheat down 9’0 at 486’0. Last week we took profits on long Corn positions. I am now a on the sidelines and feeling somewhat negative as the growing season progresses without incidence.
Cattle: Live and Feeder Cattle were mixed to lower for the week as cash cattle dropped to 95-97,00 and the FC index rallied to 129.00. I remain negative Feeders.
Silver: July Silver is 4 cents lower at 17.63, this market failed at the 18.50 area. Support is the 16.75 area. I remain on the side lines.
S&P: Sept. S&P’s are currently 22.00 lower at 3027.00 mainly due to the rising resurgence of the pandemic. Treat as a trading affair. USE STOPS!
Currencies: as of this writing the Sept. Euro is 47 lower at 1.1233, the Yen 37 lower at 0.9333, the Pound down 30 at 1.2458 and the Dollar Index up 0.26 at 97, 39. I Still like the long side of the Euro and the Pound and the downside of the Dollar Index.
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