YM1! - Weekly Market Update, 5/31/22

Dow futures reversed on us along with the broader markets this past week, finding support at the ORANGE channel. We had an idea to short the Dow, but it had gapped against us, I'm not a big fan of chasing price action, I prefer to let it come to me. Had you employed the same, you were saved from suffering a loss from this relief rally. The overall trend remains bearish, the current structure it closed above for the week did not offer us a 1%+ confirmation - at this time I do not see any actionable ideas for this market.