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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 currently 2 lower at 140’31, 10 Year Notes6 lower at 119’10.0 and 5 Year Notes 6 lower at 112’21.5. Yesterday Bonds made a potential key reversal (new contract low and a close above the previous days high) making a new contract low at 138’14 while yielding 2.98%. The market turned around to the upside in spite of comments by St. Louis Fed President Bullard that a 0.75% rate hike is not off the table. I am sticking with a prediction of a 0.50% rate hike at the next FOMC meeting. Yields are as follows: 2 Year 2.62%, 5 Year 2.90%, 10 Year 2.87% and 30 year2.91%. The 5 Year/10 Year spread remains inverted.

Grains:  Dec. Corn is currently 7”0 lower at 741’4 and Nov. Beans 13’0 lower at 1524’4. New crop contracts continue to have a large discount to the front month contracts reflecting a Ukraine war premium on lack of exports from the Ukraine/Russia bread basket. I feel this discount will narrow over time as planting in this area will be less than prior years because of the conflict.

Cattle:  June LC opened 12 higher at 138.80. I am now watching the Aug.LC/Aug.FC spread and feel that high feed costs will eventually cause the spread to narrow with Feeder Cattle losing some of the premium to Live Cattle.

Silver:  May Silver is currently 44 cents lower at 24.84. This market is still range bound between support of 24.50 and resistance of 26.10.

S&P:  June S&P’s are 47.00 higher at 4503.00. Positive first quarter earnings has lifted this market over the last few sessions turning short term trends higher. Support is currently 4390.00 and resistance 4508.00.


Marc Nemenoff

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