Russell 2000 (RTY) Underperforms All equity indices, Down 2.17%; Breaks Below 20, 50 and 100 Day Averages

The Hourly View for RTY

Last Updated June 21, 2021, 01:011 GMT

At the time of this writing, RTY’s price is down 0.03 (0%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as RTY has now gone down 4 of the past 5 hours. Regarding the trend, note that the strongest trend 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 downtrend 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 down 2.17% (49.71) since yesterday, marking the 5th straight day a decline has happened. On a relative basis, Russell 2000 was the worst performer out of all 14 of the assets in the equity indices asset class today. Here is a daily price chart of Russell 2000.

RTY

Russell 2000 Technical Analysis

Moving average crossovers are always interesting, so let’s start there: Russell 2000 crossed below its 20, 50 and 100 day moving averages yesterday. The clearest trend exists on the 30 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 down 7 them.