E-Mini Russell 2000’s 4 Day Down Streak Comes to an End

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News Releases Impacting E-Mini Russell 2000

  • Forecasted Durable Goods Orders MoM in United States: 0.8%. The previous number: -0.9%. (188.89% difference between the two.)

The Hourly View for E-Mini Russell 2000

  • Currently, RTY’s price is down 0.01 (0%) 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 100 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 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 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 up 47.71 (2.45%) 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.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 50 day timeframe.
  • Of note is that the 20 day changed directions on RTY; it is now pointing up. 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.

RTY

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