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:  Dec. Bonds are currently (5:00am) unchanged at 130^20, 10 Year down 15 at 113^24 and the 5 Year down 15 at 108^12, Yesterday the Fed raised rates by 0.75% as expected, The result of which was a further widening of the yield curve in favor of the 2 Year note which is now yielding 4.06% almost 0.50% premium to the 10 Year. Comments by Chairman Powell lead us to believe there will be another rate hike in Nov. Suppo rt was tested below the 129^15 level and held in Dec. Bonds. Resistance is now 123^00.

Near term supp

Grains:  Dec. Corn is 2^2  at 688^0 and Nov. Beans 9 cents higher  at 1470^0. Trends are up as we get close to harvest despite the recent sell off. Support in Dec. Corn is 663^0 and resistance 706^0.Support in Beans is currently 1422^0 and resistance 1510^0.

Cattle: Yesterday Oct. LC closed 43 lower at 145.87 and Oct. FC 80 lower at 179.33. AS long as Corn remains in an uptrend I retain a negative bias particularly to Feeder Cattle. Near term support for Oct. LC iis 144.30 and resistance 146.50’

Silver:  Dec. Silver is currently 9 cents higher at 19.57. Short term trend is up, long term remains down with resistance at 20.12.

S&P:  Dec. S&P is 7.00 higher at 3813,00. Support iis 3730.00 and resistance 3950.00 for the near term. Trend remains down.

On a personal note: I have been experiencing some now resolved health issues and was not able to publish this report for the last few weeks.

 

Regards,

Marc Nemenoff

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