Financials: As of this writing Sept. 30 yr.Bonds are up 1’0at 177’06, 10 yr. Notes up 0’6 at 138’25 and 5 yr.Notes up 0’2 at 128’16. Current yields are 0.18% for the 2 yr.,  0.32 for the 5 yr., 0.70. for the 10 yr. and 1.48 on the 30 yr. Trends remain up on futures and down on yields. Stimulus programs in lieu of the coved-19 pandemic has kept the Fed buying bonds, particularly the short end. I look for the yield curve to narrow and acknowledge the possibility of a negative rate on the 2 yr.note.

Grains: July corn is 1’6 higher at 336’6, July Beans 878’0 and July Wheat 495’2. The short term trend on corn is up and long term trend down. If you are long look to take profits.

Cattle: The trend on both Live and Feeder Cattle is currently sideways to down. Resistance on Aug. Cattle is the 98-99.00 are and the 134-135.00 area for August Feeders. Support is 94.00 on LC and 126-128.00 on FC.

Silver: July Silver at the time of this writing is 17 cents lower at 1760.5. Support is currently 16.75 and resistance a triple top in the 19.00 area.

S&P: S&P’s are currently 18.00 lower at 3089.00. Lower rates as dictated by the Fed has been supporting the market along with a lower dollar.DON’T FIGHT the FED. I have taken to the sidelines even though I feel this market is over bought.

Currencies: As of this writing the Sept. Euro is .009lower at 1.1268, the Pound .086 lower at 1.2478 and the Dollar Index 0.115 lower at 97.000. I remain friendly to the Euro and the Pound and negative to the Dollar Index.

On a personal note I would like to thank the many readers of the Nemenoff Report who inquired about my health and well being. I am fine and must admit I never thought the pandemic would last this long and didn’t have all the technical tools needed to publish from home.

Regards,

Marc