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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:  June Bonds are 1’01 lower at 148’16, down 3’20 since my last “Report”. 10 Year Notes are 15 lower at 122’21.5, down 1’25 for the week and the 5 Year down 7 over night at 114’27, down 1’08 for the week. Yields continue to rise and the yield curve continues to flatten. The 5 vs. 10 year is now inverted with the 5 year yielding 2.36% and the 10 Year yielding 2.34%. Expectations are that the Fed is going to take a hawkish stance in the fight against inflation and will raise rates again in June by as much as 0.50%. As usual with the caveat “data dependent” Support for June Bonds is now 147’20 and resistance 152’05.

Grains:  May Corn is 3’2 lower at 754’2, up 16’2 for the week. May Beans are   8’2 lower at 1710’4,up 50 cents for the week. Draught in S. America and tight sullies because of sanctions against Russia are keeping trends positive. As mentioned last week I am no longer favoring the long new crop/short old crop spreads in either Corn or Beans.

Cattle:  April LC are 42 higher at 139.85 up 50 points since last week. April FC are 100 higher at 162.725 up slightly for the week. The long LC/ short  FC spread is still narrowing as FC are still under pressure from inflationary feed prices. Support on Apr. LC is 138.10 and resistance 141.45.

Silver;  May Silver is currently64 cents higher at 25.83, up 22 cents for the week. Support is now 24.80 as the trend is now edging higher with the 25.70 resistance level penetrated.

S&P:  June S&P’s are currently 20.00 higher at 4458.00 up 130.00 for the week. Short term trend remains up. Support is now 42.70 and resistance 4510.00.

Regards,

Marc Nemenoff

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