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 (6:30am) Sept. Bonds are 3 lower overnight at 156’13 and down 8 for the week, 10 Year Notes 2 lower overnight at 131’27, unchanged for the week. The 5 year is 1 lower at 123’25 up 1 for the week. Fed Governers are still musing about inflation currently being “transitory” and should level off to 2-21/2%. Tapering could be in the cards in 2022-2023. Today ADP private jobs report, weekly jobless claims. Friday: Monthly jobs report. Early estimate is up 650,000.
Grains: July Corn is currently 6 cents higher this morning at 681’2, up 53 for the week. Dec. Corn up 6’0 at 579’2, up 53 for the week. July Beans up 17 overnight at 1580, up 82 for the week. Nov. Bean up 15’2 overnight at 1429, up 84 cents for the week. Crop progress below expectations and continued S. American poor growing conditions have propelled these markets back to long and near term up trends.
Cattle: August LC closed 265 higher yesterday at 119.25 about unchanged for the week as the market recovered from Tuesday’s losses due to the cyber attack on JBS meat plants in the U.S. and Australia. Aug. FC were 320 higher at 152.35, down 285 for the week as this market responded to the resumption of higher feed costs after gaining substantially on Live Cattle over the last 3 weeks. Support on Aug, LC. Is currently 116.50 and resistance 120.85.
Silver: July Silver is currently down 50 cents at 27.70, up about 10 cents for the week.
The market is currently in support with resistance in the 28.35 area.
S&P: June S&P’s are 29.00 lower at 4178.00, up 30.00 for the week. Long term trend remains up.
Currencies: The June Euro is 30 lower at 1.2196, the Yen 17 lower at 0.9110, the Pound up 24 at 1.4192 and the Dollar Index 14 higher at 90.05. My near term objectives have been met. I am on the sidelines.
There will no report next week, the Nemenoff Report will resume in two weeks.
Please reach out to me if you’d like to learn more about my strategy or get my entry levels at 312.264.4310 or email@example.com
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