About The Author

Marc Nemenoff

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 (7:00am) Sept. Bonds re 23 higher at 163’10 down 1’04 from last week. The 10 Year Note is up 6 overnight at 133’21 unchanged for the week. The 5 Year Note is up 2 at 123’29 down 5 ticks for the week. The yield curve widened slightly week over week with 2 year at 0.22% up 2 basis points, the 5 year at 0.77% up 3 points, the 10 year up 5 at 1.31 and the 30 year bond up 5 at 1.93%. CPI and PP! both were higher than expected showing inflation well beyond the Fed’s target of 2-21/2% and the Fed is still talking transitory (temporary). The Fed chair while testifying in front5 of Congressional Committee Q and A that tapering is still in conversational stage. I feel that all this is somewhat negative for treasuries. Support on Sept. Bonds remains in the 160’00 area. The market is currently in resistance.

Grains:  Dec. Corn is currently 4’0 lower at 554’6 up about 22 cents for the week. Nov. Beans are 1’0 lower at 1382’0 up 56 cents from a week ago Support remains at 517’0 and Resistance remains at 562’0 for Corn. Watch for the potential of a chart gap off 553’0-572’0 should the market hold above 562’0. Support on Nov. Beans is just under 1330’0 Resistance is 1392’0.

Cattle:  Yesterday Aug. LC closed 50 lower at 121.25, up[ 65 for the week. Aug. FC closed down 187 at 159.22 reflecting recent rise in feed grain prices, but managed to eke out a gain of 22 points for the week. Support for LCQ remains at 120.15 and Resistance at 124.10.

Silver:  Sept. Silver is currently 10 cents higher at 26.37. Support remains at 24.85 and Resistance is at 28.20.

S&P:  Sept S&P’s are 14.00 lower at 4354.00, up 60.0 for the week., and off 30.00 from contract highs. It’s earning season again which should raise volatility. Support is 4330.00. Resistance 4385.00.

Currencies:   The Sept. Euro is currently 18 lower at 1.1826, the Yen 3 lower at 0.9090, the Pound 9 higher at 1.3862 and the Dollar Index up 13 at 92.535.

The Yen is in Support and the Dollar Index is in Resistance.

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 mnemenoff@pricegroup.com

Regards,
Marc

 

Questions? Ask Marc Nemenoff today at 312-264-4310