A Weekly TD Combo sell

In my last posting we took a look at the DeMark technical position of the new monthly chart. Let’s do the new weekly as well. In this instance we see that a TD Combo 13 sell signal was generated on May 10^th. TDST support is at 1398.11 (dashed horizontal green line).

I use this signal in a conservative fashion – to me it is not activated until we get a price flip. For that to occur we need a close this Friday (June 7^th) below 1633.7. On the other hand, this sell signal would be negated on a confirmed, validated break of the 1655.81 level (shown by the horizontal cyan colored line). Breaks of that line during the weeks of May 17^th and May 24^th were subsequently invalidated. Last week’s break will be invalidated on the open today, and so the Combo “sell” signal is still in play.