Russell 2000 (RTY) Heads Up For the 4th Consecutive Day; in an Uptrend Over Past 14 Days

The Hourly View for RTY

Last Updated October 13, 2020, 00:06 GMT

At the moment, 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. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on RTY. Given that we see an uptrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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.

Russell 2000 Daily Price Recap

Russell 2000 closed yesterday up 0.7% (11.51); this denotes the 4th consecutive day an increase has occurred. Relative to other instruments in the equity indices asset class, Russell 2000 ranked 6th since yesterday in terms of percentage price change. Here is a daily price chart of Russell 2000.

RTY

Russell 2000 Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Or to view things another way, note that out of the past 30 days Russell 2000’s price has gone up 18 them.

Overheard on Twitter

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

  • From tdarling1:

    US equity indexes rallied for the 3rd week with the SPX +3.8%, COMPQ +4.6% and RUT +6.6%
    Declining volume for SPX but big uptick for the RUT, which broke to 3-month high$ES_F 3486 +0.4%
    $NQ 11857 +1.1%
    $RTY 1637 -0.1%

  • From Cycle_System:

    $ES_F $NQ_F $YM_F $RTY I just got Goldman, Sachs & Co Republican & Democratic basket of stock ahead of the 2020 election. Interesting the way they are positioning.

  • From 1Chris_Jenkins:

    $RTY WTF is wrong with you? That’s the wrong way….