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 are unchanged at163’01, 10 Year Notes up 1 at  133’20 and the 5 Year Note up 1 at 123’29.5. Yields have risen over the last week with the 2 Year now yielding0.22%, up 3 basis points since last week. The 5 Year at 0.81 up 12 basis points for the week The 10 Year is now at 1.35% up 16 basis points and the 30 Year Bond up 17 at 2.01%. More chatter about the Fed tapering it’s monthly $120 billion purchases of notes, bonds and mortgage backed securities starting in the 4th quarter of this year sent Bonds lower from last weeks 166’00 to 167’00 levels. Near term support is now the 162’08 area and resistance 165’5.

Grains:  Dec. Corn is currently 1’6 lower at 557’4 and Nov. Beans 4’0 lower at 1336’0. Grain Report this morning. Traders will be looking at yields per acre of which the average estimate for Corn is 176 bushels per acre and Beans 52 bushels per acre. Given the recent price action I expect high volatility after the release of the Report. I will be watching to see if Dec. Corn fills the chart gap at 573’2 which could change the near term trend from down to up. For the moment Support on Dec. Corn is 542”0 and Resistance 573’2.

Cattle:  Yesterday Oct. LC closed down 55 points at 127.57, down 140 for the week. Aug. FC closed down 55 at 158.77, down 45 for the week. The near term trade remains up. Should the Grain Report show production larger than guesstimated I suspect Live and Feeder Cattle to rally.

Silver:  Sept. Silver is 21 cents lower at 23.28 down 2.22 for the week. Ideas of higher interest rates have had a negative effect on precious metals along with a strong Dollar. Too volatile for me to trade.

S&P;  Sept. S&P’s are 1.00 lower at 4438.0up 35.00 for the week. CPI and monthly employment report gave this market reason to continue making new highs, but I will note that the degree of momentum has slowed.

Currencies:  The Dollar index has turned from a down trend to a sideways market. The Yen is now neutral.

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