E-Mini Russell 2000 is Down for the 2nd Day in a Row

News Releases Impacting E-Mini Russell 2000

  • Forecasted Unemployment Rate in United States: 3.7%. The previous number: 3.8%. (2.63% difference between the two.)

The Hourly View for E-Mini Russell 2000

  • At the time of this writing, RTY’s price is down 0 (0%) from the hour prior.
  • E-Mini Russell 2000 has seen its price go down 5 out of the past 5 hours, thus creating some compelling opportunities for bears.
  • Regarding the trend, note that the strongest trend exists on the 50 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 and 10 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 bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

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


The Daily View for E-Mini Russell 2000

  • At the moment, RTY’s price is down -20.94 (-1%) from the day prior.
  • The daily chart shows that E-Mini Russell 2000 has seen 2 straight down days.
  • As for the trend on the daily timeframe, we see the clearest trend on the 20 day timeframe.
  • Of note is that the 50 day changed directions on RTY; it is now pointing up. 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.


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