The Hourly View for RTY
Last Updated October 16, 2020, 00:06 GMT
Currently, RTY’s price is down $0 (0%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as RTY has now gone up 4 of the past 5 hours. As for the trend on the hourly timeframe, we see the clearest trend 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 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Of note is that the 20 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
The back and forth price flow continues for Russell 2000, which started today off at 1638.8825 US dollars, up 1.06% (17.23) from yesterday. Russell 2000 outperformed all 14 assets in the equity indices asset class since yesterday. Below is a daily price chart of Russell 2000.
Russell 2000 Technical Analysis
The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Or to view things another way, note that out of the past 10 days Russell 2000’s price has gone up 7 them.
Overheard on Twitter
Over on Twitter, here were the top tweets about $RTY:
- From theMlKD:
@apollotradingsd Why not just straight short $RTY? What’s the near term catalyst up for $YM? It’s not as options/whale sexy as tech, yet it does benefit more from Fed/ZIRP/cronyism, but no one’s buying planes…oh who knows.
- From HakCapital:
Keep an eye on $RTY vs $ES / $NQ. Fully expecting RTY to run up on drops, as investors may pile into value as bigger names see some pullbacks.
- From WaitCapital:
$ES nearly +30 from entry and trimmed a lot. $RTY perking up — a signal for stimulus enthusiasm.