Momentum Reversal? E-Mini Russell 2000’s Heads Up for the First Time in 5 Days

News Releases Impacting E-Mini Russell 2000

  • Forecasted Michigan Consumer Sentiment Prel in United States: 64. The actual number: 59.1. (8.29% difference between the two.)

The Hourly View for E-Mini Russell 2000

  • Currently, RTY’s price is up 6.38 (0.36%) from the hour prior.
  • The hourly chart shows that E-Mini Russell 2000 has seen 2 straight up hours.
  • If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe.
  • The moving averages on the hourly 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.

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 21.24 (1.24%) 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.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart 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.
  • 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

Featured E-Mini Russell 2000 Commentary From Twitter

2/2

I believe RTY stocks are a better reflection of the US economy because RTY stocks have fewer “algo games” and RTY’s tend to have a higher % of their revenues/workforce in the US

Is the big round-trip in RTY back to its pre-pandemic peak accurately reflecting the US economy?NA

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