Russell 2000 (RTY) Outperforms All equity indices, Up 1.71%; in an Uptrend Over Past 30 Days

The Hourly View for RTY

Last Updated January 6, 2021, 02:020 GMT

Currently, E-Mini Russell 2000’s price is down 0 (0%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on E-Mini Russell 2000. Given that we see an uptrend on the 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 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 entered today at 1979.10828, up 1.71% ($33.19) from the previous day. Russell 2000 outperformed all 14 assets in the equity indices asset class since the previous day. Congrats to its holders! Below is a daily price chart of Russell 2000.


Russell 2000 Technical Analysis

Notably, Russell 2000 crossed above its 20 day moving average yesterday. 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 90 day timeframe, which shows price moving up over that time. Or to view things another way, note that out of the past 30 days Russell 2000’s price has gone up 18 them.