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:  Mar. Bonds are currently 13 lower at 161’11, 10 Year Notes up 8.5 at 130’24.5 and 5 Year Notes up 8 at 121’02.0. Yesterday’s results from the FOMC meeting were as expected with the Fed announcing its’ intention to raise rates 3 times in 2022 and 3 times in 2023 in an effort to stem inflationary pressures due to an imbalance in supply/demand factors such as the shortages in computer chips. The Fed also will double the pace of tapering it’s monthly Bond purchases finishing this program in March, six months earlier than originally planned. Yields on treasuries showed little movement since last week, but the yield curve is slightly widening this morning. Support for Mar. Bonds remains at 160’00 and Resistance remains at 164’00.

Grains:  Mar. Corn is up 1’0 at 586’6 and Mar. Beans up 9”0 at 1274’2. Trends remain sideways to down. March Beans are in the 1276’0 resistance area . Support remains at 1226’0. Mar. Corn support remains at 571’0 and resistance at 595’0.

Cattle: Feb. LC are lower for the week at 136.60. Slowing demand has added pressure to cattle as we get through the Holidays. Support is currently 135.60 and resistance 138.100

Silver: Mar. Silver is currently 80 cents higher at 22.54 after trading under 21.50 in the last few days. Trend remains down. Bottoming action is foreseen for the near term.

S&P:  Mar. S&P’s are 12.00 higher at 472.50 after making new contract highs early this morning at 4743.50. The market appears to like the fed’s newly hawkish stance on interest rates.  Support is now 4633.00. no resistance.

Currency: The Mar. Dollar Index 57 lower at 95.90. The fact that there was no increase in treasury yields after the FOMC announcement on rates has caused the present sell off. A close below 95.40 could change the trend.

Regards,

Marc

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