E-Mini Russell 2000 Has Now Headed Down 4 Out of the Past 5 Days

News Releases Impacting E-Mini Russell 2000

  • Forecasted Industrial Production MoM in United States: 0.4%. The actual number: 0.2%. (100% difference between the two.)

The Hourly View for E-Mini Russell 2000

  • Currently, RTY’s price is up 3.58 (0.21%) from the hour prior.
  • E-Mini Russell 2000 has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls.
  • If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on E-Mini Russell 2000. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. With that said, traders should also note the downtrend on the 20 hourly candle timeframe, so the meaning of the candles may require further exploration.
  • 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.


The Daily View for E-Mini Russell 2000

  • At the time of this writing, RTY’s price is down -81.3 (-4.7%) from the day prior.
  • It’s been a feast for bears operating on the daily timeframe, as E-Mini Russell 2000 has now gone down 4 of the past 5 days.
  • Regarding the trend, note that the strongest trend exists on the 20 day timeframe.
  • The moving averages on the daily timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

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


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