The Hourly View for RTY
Last Updated October 2, 2020, 00:06 GMT
At the time of this writing, 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. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 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, 10 and 5 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 closed the day prior up 1.56% (23.51); this denotes the 2nd day in a row it has gone up. Russell 2000 outperformed all 14 assets in the equity indices asset class since the day prior. Let’s take a look at the daily price chart of Russell 2000.
Russell 2000 Technical Analysis
Moving average crossovers are always interesting, so let’s start there: Russell 2000 crossed above its 20 day moving average yesterday. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Or to view things another way, note that out of the past 14 days Russell 2000’s price has gone up 9 them.
Overheard on Twitter
Over on Twitter, here were the top tweets about $RTY:
- From dailyEdgeGroup:
Daily Edge Live (Alerts), [30.09.20 15:45]
📊 2,000,000 😱 ⚫️ #DarkPool
💔 -0.43 | -0.29%Levels
🧮 1509.30Huge same day late block. Bullish above bearish below (biased it was a short).$SPY $QQQ $VXX $SPX $NDX
- From _____Tasia_____:
Cramer last night on Mad Money “Buy some shares of Boeing right now” $BA $DJI $DJIND $SPX $SPY $NDX $NDAQ $QQQ $RTY
- From daytraderedu:
If US Futures will spike on THIS debate, traders standards are far too low 😂 $SPX $NDX $RTY