http://www.321gold.com/editorials/kern/current.html

“Significant wariness is appropriate for the bulls as the major intermediate-term top may have occurred via last week’s 16-20 index sell signal and the hit/touch of the long-term 884 resistance index. The 884 index may just have marked the exact top, and Friday’s (8/19/16) decline was consistent with that very real possibility. Jeff also has other reasons to be wary that are reserved for subscribers. Jeff is down to only a small long position. It won’t take much of a rise to activate a new buy and it won’t take much of a decline to activate a further sale. The indices have been extraordinarily exact during all of 2016. Purely Mechanical SKI remains completely long from the late January 92-96 index buy signal at USERX 4.99. The mechanical system always ends up giving back a significant portion of the current gain until it is stopped out via a 92-96 index sell signal, so Jeff is using the other indices to sell that purchase and/or to rebuy if there is likely to be another (unexpected) leg higher.”