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Rules for defining a "sell" signal using the "Tick Index"
 

For a sell signal using the N.Y.S.E. Tick Index, I look for a double top on the S&P’s futures daily chart where the second top does not exceed the first top by more than 5 S&P points. The first top must have at least 600 or greater up-tick readings. The second top usually will have less up-tick readings than the first top, but which are still near 70% of the first extreme up-tick level. Also, from the first top to the second top, the time frame should not exceed five business days.
 

Example of a sell signal using the "Tick Index" method.

 
S&P Futures chart
Figure 2