E-Mini Russell 2000 Does it Again: Heads Down for the 2nd Straight Day

News Releases Impacting E-Mini Russell 2000

  • Forecasted Retail Sales MoM in United States: 0%. The previous number: 0.3%. (100% difference between the two.)

The Hourly View for E-Mini Russell 2000

  • Currently, RTY’s price is down 0 (0%) from the hour prior.
  • It’s been a feast for bears operating on an hourly timeframe, as E-Mini Russell 2000 has now gone down 4 of the past 5 hours.
  • If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe.
  • Price action traders may also wish to note that we see a doji candlestick pattern on E-Mini Russell 2000. Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

E-Mini Russell 2000’s hourly price chart is shown below.

RTY

The Daily View for E-Mini Russell 2000

  • At the time of this writing, RTY’s price is down -16.62 (-0.76%) from the day prior.
  • E-Mini Russell 2000 has seen its price go down 4 out of the past 5 days, thus creating some compelling opportunities for bears.
  • As for the trend on the daily timeframe, we see the clearest trend on the 100 day timeframe.
  • Of note is that the 100 and 20 day changed directions on RTY; they are now pointing down. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
  • Divergence between RTY’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in RTY’s price.

Below is a daily price chart of E-Mini Russell 2000.

RTY

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