Russell 2000 (RTY) Down 3.35%; Breaks Below 50 Day Average

The Hourly View for RTY

Last Updated September 22, 2020, 09:017 GMT

At the time of this writing, RTY’s price is down $0 (0%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. 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.

Russell 2000 Daily Price Recap

Russell 2000 is down 3.35% (51.53) since the previous day, marking the 3rd straight day it has gone down. Out of the 14 instruments in the equity indices asset class, Russell 2000 ended up ranking 9th for the day in terms of price change relative to the previous day. Let’s take a look at the daily price chart of Russell 2000.

RTY

Russell 2000 Technical Analysis

Notably, Russell 2000 crossed below its 50 day moving average yesterday. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 16 out of the past 30 days.

Overheard on Twitter

For laughs, fights, or genuinely useful information, let’s see what the most popular tweets pertaining to $RTY for the past day were:

  • From TraderLila:

    Electric car hype. So hot right now. Gains too. Join us for a free 20 day trial. LINK IN BIO. $BA $CMG $INTC $NFLX $JPM $BAC $YM $YM_F $NQ $NQ_F $ES $ES_F $GC $GLD $QQQ $WMT $SQ $TLT $BABA $BIDU $ROKU $RTY_F $RTY $IWM $VIX $DIA

  • From FinancierAdeel:

    $RTY positioned for a monster sell tomorrow IMO. May drop 60 points.$ES is stranger. Historically markets drop tomorrow but this one may rally. What’s changing my bias is the volume near the 225 level. We caught a bid.

  • From TraderKarthik:

    I’m not saying that this can’t be an actual, sustained bounce but if it is, $RTY wants nothing to do with it, which is suspect enough for me