Dow and SP500 rises ahead of ADP employment data [Video]

Ming Jong Tey Independent Analyst

The Dow Jones and the S&P 500 futures rose 0.6% (25850) and 0.4% (3090) respectively as of the London session while investors are waiting for the ADP employment data an hour before the opening of the US session.

Check out the video for a complete walk through of the daily market analysis of S&P 500 futures (ES) for 3 Jun 2020 trading session. In this video, I am going to show you the market recap on the last session, plus two trade reviews in M3 timeframe (entry, exit and the rationale behind) based on reaction, test and reversal while the other trade based on effort vs results. Going forward, I will cover the bias, the key levels to pay attention to, and the potential setup for the US session later.

I encourage you to watch my daily market analysis video yesterday if you haven’t in order to better relate with the market recap and trade review.

Bias — up (Day trading); Up (Swing trading)

Key levels — Resistance: 3135, 3210; Support: 3060, 3035, 3010, 2980 (resistance-turned-support)

Potential setup — look for a test and bounce up of the last hour bar or previous day high to long.

Author

Ming Jong Tey

Independent Analyst

Ming Jong Tey has been trading since 2008. He started his learning journey from technical analysis (indicators, Fibonacci, etc...) to value investing. Throughout his journey, he develops an interest in price action with chart pattern trading.

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