Financials:  As of this wring (6:15am) June Bonds are currently 2 higher at 156’14 up 31 for the week, 10 Year notes 2 higher at 131’28 up 24 for the last 5 sessions and 5 Year Notes unchanged overnight at 123’28 up 15 for the week. Yields have once again slipped slightly on longer dated treasuries with the 2 Year Notes unchanged for the week at 0.15%, the 5 Year down 7 basis points at 0.84%, the 10 Year notes down 6 basis points for the week at 1.65% and the 30 Year Bond down 3 basis points at 2.34%. As mentioned last week, although I feel that rates are headed higher, I feel these markets are over sold putting me on the sidelines for the moment awaiting a selling opportunity closer to the 158’00 area in the Bonds.

Grains:  May Corn is currently 2’4 higher overnight at 563’0 down 16 cents from a week ago and May Beans 1’0 higher overnight at 1410’0 down 38’0 for the week. Nov. Beans are currently down 2’0 at 1469’0. These markets are technically still in an uptrend with support in May Corn at 547’0, May Beans at 1393’0 and Nov. Beans 1226’0. Buy at support risking 10 cents in Corn and 20 cents in Beans. Resistance is. 582’0 in Corn, 1444’0 in May Beans and 1300’0 in Nov. Beans. Take profits on long positions near resistance.

Cattle: June Live Cattle closed 65 higher yesterday at 125.27 up 237 for the week and May Feeder Cattle up 90 at 152.67 up 237 for the week.  These markets are approaching overbought territory, I’m taking profits from long June and August positions and will stand aside and await a buying opportunity. “If you don’t take the money, you don’t make the money”.

Silver:  May Silver is currently 17 cents higher overnight at 28.42 up 1.14 for the week. If you remain long from below 25.00, raise your protective sell stop from the 23.79 area to the 24.80 area. Resistance is currently the 25.90-26.10 area.

S&P:  June S&P’s are currently 14.00 higher at 4084.00 up 192.00 for the week. New contract highs should continue, I’m on the sidelines.

Currencies:  The June Euro is currently 4 higher at 1.1886 up 130 for the week, the Yen up 34 at 0..9147 up 114 over the last week, the Pound up 1 at 1.3748 down 30 for the week and the Dollar Index down 6 at 92.41 down 79 for the week. We continue to have a bullish bias on the Yen and Pound and a negative bias on the Dollar Index from above 92.50 level.

Please reach out to me if you’d like to learn more about my strategy or get my entry levels.

Regards,
Marc

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

 
 

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