The Month Change Effect, that had took place at the end of March — beginning of April, has shown its advantage in the forecasting of the price movement, at least for the S&P 500 index which has grown by 1% when opening a position on 6th candle until the end of the month and closing the position on 5th candles after the beginning of the next month.
What’s next?
There is a hammer on the daily chart, and it forecasts the change in S&P 500 direction for the uptrend.
The blue line of the Stochastic indicator intends to cross the red line from up to down in the oversold zone, and it will also indicate the upward reversal.
And the Moon has entered the waning phase.
All these factors count in favor of the upcoming growth of the index, that’s why the levels of 4500 and 4625 will be the nearest goals.
This content is for informational purposes only and is not intended to be investing advice.
