Russell 2000 (RTY) Down $7.05 in Last 4 Hours, 3 Day Up Streak Ended; Crosses 20 Day Moving Average

Russell 2000 4 Hour Price Update

Updated September 18, 2020 11:16 PM GMT (07:16 PM EST)

Russell 2000 entered the current 4 hour candle at 1536.783, down 0.46% ($7.05) from the last 4 hour candle. Relative to other instruments in the equity indices asset class, Russell 2000 ranked 11th since the last 4 hour candle in terms of percentage price change.

Russell 2000 Daily Price Recap

The end of a 3 day positive run has come for Russell 2000, which finished the previous day down 0.63% (9.73). Out of the 14 instruments in the equity indices asset class, Russell 2000 ended up ranking 5th for the day in terms of price change relative to the previous day. The daily price chart of Russell 2000 below illustrates.


Russell 2000 Technical Analysis

Moving average crossovers are always interesting, so let’s start there: Russell 2000 crossed below its 20 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Traders will also want to note, though, that a counter trend — meaning a trend going down — can be seen on the 30 day timeframe. So if you expect the primary trend to resume, the counter trend may be providing an opportunity to buy dips. For another vantage point, consider that Russell 2000’s price has gone up 15 of the previous 30 trading days.

Overheard on Twitter

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

  • From iTradePasts:

    This drill is related to JP claiming that inflation is not a problem…US Dollar “worth” more means price of stocks lower.What the sentient folks out there know is that the dollar has been inflated to smithereens and JP is lying.*whispers in $ES $NQ $RTY*
    “Good time to buy”

  • From tdarling1:

    $SPX 3357 -0.8% rose into the close and is +0.5% on the week, along with $COMPQ 10910 +0.5% for the week.$ES_F 3356 +0.1%
    $NQ 11141 +0.6%
    $RTY 1538 unch$DAX 13242 +0.3%
    $CAC 5033 -0.1%
    $FTSE 6048 unch$NIKK 23360 +0.2%
    $SSEC 3338 +2.1% <<<
    $HSI 24455 +0.5%
    $KOSPI 2412 +0.3%

  • From axelroark:

    FWIW, all the wallstreetbets dudes were sweating tech calls overnight, and $AAPL in particular. Way $RTY is ripping, it tells me there will be upsides for other indices soon enough.