We can't go anywhere without the DOW

I was a bullish hopeful at the start of the week...I was thinking we would fill the 4K gap on the ES and then just go. Instead we spent 4 days closing below this figure. Yes, we closed the week above it and kept the lagging span just above the cloud but we cannot go anywhere with the DOW and this chart says it all. Neckline is clearly broken. Now, I do think we could have a minor rally to end May with a possible green monthly candle.

The charts are clearly broken and will have limited re-tracements IMO.

The NQ & RTY are in bear markets, enough said there.

Sell the rip....

Commentaire:

Closed the month of May just shy of $33K....June is headed for a brutal close IMO. My gutt is telling me it won't have much in the way of a monthly wick unlike May.