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 Dec. Bonds are 3 lower at 160’12, 10 Year Notes 2 higher at 130’26.5 and the 5 Year Notes 5 higher at 121’30. Yields have crept up over the last few weeks especially the 2&5 year notes which have gained in yield over the 10&30 flattening the yield curve. All that seemingly changed with the FOMC leaving short term rates unchanged and announcing the beginning of “tapering” monthly purchases of Bonds and Mortgage Backed Securities (MBS) by 15 billion dollars this month and monthly hereafter probably through midyear 2022. Support for the Dec. Bonds remains in the 157’00 area and Resistance at 161’15.

Grains: Dec. Corn is currently 2’0 higher at 566’0 and Nov. Beans 4’0 lower at 1227’4. The trend in Corn is sideways to up. The trend in Beans remains down. On Tues. we have a crop production and supply/demand reports. I expect Corn production to be slightly more than 15 billion bushels. Traders will be watching Beans to dictate where Corn goes from present levels. Talk of huge planting in Beans in Brazil and Argentina will limit upside price potential. Also heard on the street: sharply higher fertilizer costs could have farmers giving up Corn acreage in favor of Beans next year.

Cattle:  After closing sharply lower Monday, Live and Feeder Cattle came roaring back with good demand for product and strong technicals  (trend has turned up). Support for Dec. LC is now 130.35 and resistance 132.60. If the market rallies through resistance the next level will be the 134.15 area.

Silver: Dec. Silver is 61 cents higher at 23.85. the near term trend remains down. This market is still too volatile for me to trade. Think options.

S&P’s:  Dec. S&P’s are currently 6.50 higher at 4658.50 on new high ground. If you can’t psychologically trade this market from the long side I recommend standing aside. Cheap money and strong earnings continue to add fuel for upside movement.

Currencies. The trend remains up for the Dollar Index. Currently up 41 points at 94.27, this market should run into resistance in the 94.50 area. The short term trends remain down on the Euro, the Yen and the Pound.

Reach out to me to receive my trading tips at 312-264-4310 or mnemenoff@pricegroup.com



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