Russell 2000 (RTY) Up 0.2%, Nears 20 Day Moving Average; Pin Bar Pattern Appearing on Chart

The Hourly View for RTY

Last Updated October 1, 2020, 18:10 GMT

Currently, RTY’s price is up $3.83 (0.25%) from the hour prior. RTY has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. 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 choppiness in the recent daily price action of Russell 2000 continues; to start today, it came in at a price of 1507.6915 US dollars, up 0.2% (2.96) since the previous day. Relative to other instruments in the equity indices asset class, Russell 2000 ranked 6th since the previous day in terms of percentage price change. Let’s take a look at the daily price chart of Russell 2000.

RTY

Russell 2000 Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. For another vantage point, consider that Russell 2000’s price has gone up 16 of the previous 30 trading days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

Overheard on Twitter

Behold! Here are the top tweets related to $RTY:

  • From dailyEdgeGroup:

    Daily Edge Live (Alerts), [30.09.20 15:45]
    ETF Blocks
    📈 $IWM
    📊 2,000,000 😱 ⚫️ #DarkPool
    💵 149.90
    💔 -0.43 | -0.29%Levels
    📈 $RTY
    🧮 1505.60
    📈 $US2000
    🧮 1509.30Huge same day late block. Bullish above bearish below (biased it was a short).$SPY $QQQ $VXX $SPX $NDX

  • From Oral__Diarrhea:

    Just playing in the old gap here.
    For those who’ve been married a long time, this takes on a slightly different meaning. 😄$spy $spx $qqq $dia $iwm $es $nq $rty $ym $vxx $gld

  • From sg_futures:

    Overnight U.S. equity futures are almost 90% net long from the close last night. This follows a strong rally yesterday across $ES, $NQ, $YM and especially $RTY.