Grains: Over night July Corn is trading 1 cent lower at 558'4, July Beans 7'6 lower at 1365'4 and July Wheat 5'6 lower at 648'0. I still like the long side of July Corn at current levels but feel for the near term that the upside is limited to the 580'0 area. Support is currently the 555'0 level.
Cattle: Yesterday Aug. LC closed 167 lower at 117.62 and Aug. FC 150 lower at 156.07. Aug. LC is near support in the 117.25 level, an area that I am willing to trade from the long side with a 200 point initial risk.
Silver: July Silver is currently 5 cents lower at 27.94 and Aug. Gold 1.00 higher at 1567.00. We continue to hold a small long position in Silver. Gold once again held support in the 1530-1540.00 area. Resistance in Gold is currently the 1577.00 area.
S&P's: June S&P's are currently 3.00 higher at 1311.50. I must say that this market is holding together pretty well given this mornings slightly disappointing reports. Near term support is currently the 1305.00 area with resistance in the 1322.00 area. I want to be flat going into Friday's Unemployment Report.
Currencies: As of this writing the June Euro is trading 19 higher at 1.2400, the Swiss 14 higher at 1.0327, the Yen 78 higher at 1.2728 and the Pound 6 higher at 1.5490. Long term trends remain down.
Regards, Marc 888.908.4310 | 312.264.4310 email@example.com