Russell 2000 (RTY) Outperforms All equity indices, Up 2.35%; Breaks Above 20 Day Average

The Hourly View for RTY

Last Updated April 22, 2021, 03:019 GMT

At the moment, E-Mini Russell 2000’s price is down 0 (0%) from the hour prior. E-Mini Russell 2000 has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists 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 2239.6272, up 2.35% ($51.42) from yesterday. Russell 2000 outperformed all 14 assets in the equity indices asset class since yesterday. Let’s take a look at the daily price chart of Russell 2000.

RTY

Russell 2000 Technical Analysis

First things first: 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. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. For another vantage point, consider that Russell 2000’s price has gone up 18 of the previous 30 trading days.