Hello everyone! Welcome to the Stats Edge Trading Market Minute, your guide for stock market analysis.
S&P 500's Potential Gap Impact
Yesterday we highlighted a gap in the S&P 500 (SPY) that signaled a market pullback. This trend is playing out as expected. The gap acts as resistance/support, impacting price. See the chart for the SPY trend visualization.
Bull Flag Pattern Spotted?
One stock holding ground amidst the pullback is Road Inc. It displayed a bullish flag pattern, signalling a likely upward trend continuation after consolidation.
If Road Inc. breaks above $40, it would confirm the bull flag. We need an overall market bounce to support this bullish trend.
"Investing should be like watching paint dry or grass grow. If you want excitement, go to Vegas." - Paul Samuelson
