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

The Hourly View for RTY

Last Updated May 28, 2021, 02:019 GMT

At the moment, 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 20 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 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 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 is up 1.06% (23.8) since the previous day, marking the 2nd day in a row it has gone up. On a relative basis, today was pretty good: Russell 2000 bested all 14 of the assets in the equity indices class 🙂 Below is a daily price chart of Russell 2000.

RTY

Russell 2000 Technical Analysis

For another vantage point, consider that Russell 2000’s price has gone up 16 of the previous 30 trading days.