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Published on Aug 24, 2011
http://mrtopstep.com -- Rich Canlione, The NKO Group - Shorts running into to their hole , waiting on Jackson Hole speech by Fed chairman Bernanke . Move Open Interest in last several days suggests shorts running into their hole and covering into Jackson Hole meeting. Lets not forget that at this conference Fed Chairmen Bernanke will also have other guest central bankers that can highlight his insight to economic landscape . Market really moving and motivated to trade higher on last several Economic releases , however confusing some recent ones were : House Price Purchase index Month Over Month was good : +.9% House Price Purchase index Quarter Over Quarter was bad : - .6% Seeing risk on trade again , from selling out of U.S. Bonds and trade put back on into buying U.S. Equities. However we must take note that an area in U.S. Bond Yield (3.50% area) that equates to futures price of 138'02 through 137'28 could be a stall area . Best high in SPU (1206.75 8/17/11) since 1077.00 low 8/9/11 . Best high close in SPU 1198.50 8/15/11