Russell 2000 (RTY) Fares the Worst Out of equity indices, Moves Down For the 4th Day In A Row; Eyes 20 Day Average

The Hourly View for RTY

Last Updated June 18, 2021, 01:014 GMT

At the time of this writing, RTY’s price is down 0 (0%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Of note is that the 100 hour changed directions on RTY; it is now pointing down. 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

Russell 2000 is down 1.18% (27.23) since yesterday, marking the 4th day in a row a decline has happened. On a relative basis, Russell 2000 was the worst performer out of all 14 of the assets in the equity indices asset class today. Let’s take a look at the daily price chart of Russell 2000.

RTY

Russell 2000 Technical Analysis

Volatility for Russell 2000 has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 15 out of the past 30 days.