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:  Sept. Bonds are currently 5 higher at 139’23, up 6 for the week. 10 Year Notes are 3.5 higher at 118’19.5, down 5 for the week and the 5 Year Note is unchanged this morning at 112’00, down 12 for the week. Earlier this week CPI came out showing inflation at 9.1%, almost a 40 year high. This sent the yield curve wider in favor of higher rates for short term treasuries. The 2 Year is now yielding 3.19%, the 5 Year 3.09 &, the 10 Year2.98% and the 30 Year3.12%. This kind of narrowing of the curve is normally considered recessionary. With inflation now at 9.1% it is expected that the Fed will raise rates 75 basis points at the July meeting. Support for Sept. Bonds remains at 136’12 and resistance 141’04.

Grains:  Dec. Corn is currently 3’0 higher at 604’0,up 7’0 for the week. Nov. Beans are 7’4 higher at 1348’4, down 10’0 for the week. Shot term trends remain down. Support for Dec. Corn remains at 580’0 and resistance at 630’0.

Cattle:  Aug. LC are 35 lower at 135.05 about unchanged for the week. Aug. FC are 50 lower at 178.35, up 400 for the week. As expected FC gained on LC for the week and Aug. LC gained on deferred contracts. Support for Aug. LC remains at 131.75 and resistance is at 137.00.

Silver:  Sept. Silver 19 cents higher at 18.41. Trend remains down as the Dollar remains strong.

S&P: Sept S&( are 35.00 higher at 3828.00. Trend remains down. Support is 3730.00 and resistance 3915.00.

Regards,

Marc Nemenoff

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