Russell 2000 (RTY) Outperforms All equity indices; Moves Up For the 2nd Day In A Row

The Hourly View for RTY

Last Updated April 27, 2021, 02:019 GMT

Currently, E-Mini Russell 2000’s price is down 0.01 (0%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. 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 doji candlestick pattern on E-Mini Russell 2000. 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 came into today up 1.15% (26.15) from the open of the previous day, marking the 2nd day in a row it has gone up. Russell 2000 outperformed all 14 assets in the equity indices asset class since the previous day. Let’s take a look at the daily price chart of Russell 2000.


Russell 2000 Technical Analysis

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 14 days Russell 2000’s price has gone up 8 them.