Respect DeMARK Risk Levels, Solars Going Lower
I'm seeing a strong case for solar stocks to continue lower based on the latest reaction to the TDST levels that prices failed to go above. TDST levels are created upon completion of a TD 9 Sell Setup. These act as guiding principles for the current trend. The gist is, if TAN is above that red line near this week's highs, that would be a big clue that the trend has shifted.
However, if you look closely, below the 13 TD Combo completed in January is a pink line with pink shading. That is the DeMARK TD Combo 13 RISK Level. We qualified a break below it. The fact that we came all the way into TDST after a qualified risk level downside break and now failed TDST is a massive red flag to bulls. I would be short TAN here with a tight stop at this week's highs.