विश्लेषणसूचकांकोंUS 500 (SPX) Index Analysis: ADP Nonfarm Employment Change and Initial Jobless...

US 500 (SPX) Index Analysis: ADP Nonfarm Employment Change and Initial Jobless Claims in May 2023

In the latest reports, the highly anticipated US ADP Nonfarm employment change for May 2023 surpassed market expectations, coming in at 278k compared to the forecasted 170k. Additionally, the initial US jobless claims stood at 232k, slightly lower than the projected 235k.

Following the release of this data, the US 500 (SPX) Index experienced a decline below the supply zone levels of 4187 and 4192 in the 30-minute time frame. It traded at 4182 at the time of printing, prompting traders to evaluate the trading conditions ahead of the US opening session. It is essential for traders to closely monitor the current supply zone levels at 4192 and 4187, as well as the demand zone at 4174 and 4168, as these could provide valuable insights into the future direction of the index.

Based on the current price structure, there are two potential scenarios. The index may rally and reclaim the current supply zone, or it may decline further towards the demand zone at 4174 and 4168.

As we approach the US opening session, I extend my best wishes to fellow traders for a successful trading session. If you have any requests for analysis on your preferred trading product, please feel free to ask, and I’ll be glad to assist you. If you find my analysis helpful, I would appreciate your support by liking it. I welcome your comments and am open to discussing trading further.

[caption id=”attachment_13932″ align=”alignnone” width=”300″]US 500 SPX 1 06 2023 , 11 05 08 PM US 500 SPX 1 06 2023 , 11 05 08 PM[/caption]

Joeli-Fatiaki65
Joeli-Fatiaki65
Joeli Fatiaki is a highly experienced trader and technical analyst who possesses over a decade of expertise in the financial market. Having initially pursued a career as a logistic analyst, Joeli made a successful transition to become a full-time trader and analyst after dedicating more than five years to studying and trading various assets. Joeli's contributions are regularly found on FXStreet, a prominent financial news website highly regarded by traders and investors. His work is highly esteemed and often featured among the recommended content for readers to gain insights and take actionable steps. Additionally, Joeli has collaborated with brokers, offering trade analysis and signals to their clients. With his extensive experience in the financial market, Joeli has worked closely with developers and created a supply-and-demand trading system on the popular Metatrader platforms (MT5 and MT4). This system is versatile and applicable to various products, including stocks and indices, futures markets, forex, commodities, gold, silver, cryptocurrencies, bonds, ETFs, etc. If you are a trader or investor searching for top-notch tools to enhance your trading experience, you can connect with Joeli on Facebook and Discord. By joining his network, you gain access to his supply-and-demand system, a valuable resource for making informed trading decisions. Alternatively, if you are seeking trade signals, Joeli can provide those as well, ensuring you stay ahead of market movements. Joeli's wealth of knowledge and expertise makes him a reliable partner for traders and investors seeking effective tools and insightful analysis to navigate the financial markets successfully. Link to purchase the supply and demand zones: https://www.mql5.com/en/market/product/99571?source=Site+Market+My+Products+Page https://www.mql5.com/en/market/product/99637?source=Site+Market+My+Products+Page https://www.mql5.com/en/market/product/99561?source=Site+Market+My+Products+Page https://www.facebook.com/groups/3568052186848360 Discord https://discord.gg/MsqEeGa2ug Linked profile: https://www.linkedin.com/in/joeli-fatiaki-80393b126/ Patreon:https://patreon.com/FuturesDailyTradeSetup?utm_medium=clipboard_copy&utm_source=copyLink&utm_campaign=creatorshare_creator&utm_content=join_link
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