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 unchanged at 142’24, 10 Year Notes up 9 at 120’23 and 5 Year notes up 9 at 113’18. Yields in the cash market are as follows: 2 Year 2.97%, 5 Year 2.82%, 10 Year 2.78% and 30 Year 3.08%. The 2-10 Year yield curve remains inverted. Yesterday th FMOC raised rates 75 basis points putting Fed Funds at 1.50%. Later comments suggest that the Fed will keep raising rates until a significant break is seen in inflation data. I still have resistance for Sept. Bonds above the 143’00 level.

Grains:  Dec. Corn  is 12’6 higher at 615”6 and Nov. Beans 9’0 higher at 1418’0. Trends have turned up.  Hot weather, drought, Russia continuing to break  agreement to  safely export Ukrainian grain through  black Sea ports, And a 3.0% decline in crop progress all point to higher price action.

Cattle:  Oct.LC closed slightly lower yesterday at 142.32. Short term trends have turned down for basically all the issues stated above pointing to higher grain prices. Support is 140.60 and resistance 143.80.

Silver:  Long term trend remains down Sept. Silver 1.08 higher at 19.67.

S&P:  Sept. S&P short term trend has turned up, long term remains down. Support is now 3870.00 and resistance 4045.00.


Marc Nemenoff

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