Russell 2000 (RTY) 2 Day Down Streak Ended; Pin Bar Pattern Appearing on Chart

The Hourly View for RTY

Last Updated October 21, 2020, 00:06 GMT

At the moment, RTY’s price is down $0 (0%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as RTY 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 20 hour timeframe. 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.

Russell 2000 Daily Price Recap

The choppiness in the recent daily price action of Russell 2000 continues; to start today, it came in at a price of 1617.70642 US dollars, up 0.25% (4.08) since yesterday. Out of the 14 instruments in the equity indices asset class, Russell 2000 ended up ranking 7th for the day in terms of price change relative to yesterday. Below is a daily price chart of Russell 2000.


Russell 2000 Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. For another vantage point, consider that Russell 2000’s price has gone up 18 of the previous 30 trading days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

Overheard on Twitter

Over on Twitter, here were the top tweets about $RTY:

  • From tdarling1:

    Domestic equity was mixed on the week with $COMPQ +0.8%, $SPX +0.2% and $RUT -0.2%All are higher on a tend and trade basisGreen start to futures
    $ES 3492 +0.9%
    $NQ 11931 +1.1%
    $RTY 1640 +0.8%

  • From dspreadsdaily:

    I’ll be providing a shit ton ton of loss porn if I’m wrong $ES $ES_F $NQ $NQ_F $RTY $RTY_F

  • From stonksguy:

    @jedimarkus77 @RampCapitalLLC I could see myself snagging a stimulus $RTY just for kicks!