Russell 2000 (RTY) Down 0.31%; Breaks Below 50 Day Average

The Hourly View for RTY

Last Updated May 6, 2021, 03:019 GMT

At the moment, E-Mini Russell 2000’s price is down 0.01 (0%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as E-Mini Russell 2000 has now gone down 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 50 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

Russell 2000 closed the previous day down 0.31% (6.92); this denotes the 2nd consecutive day a decrease has occurred. Relative to other instruments in the equity indices asset class, Russell 2000 ranked 11th since the previous day in terms of percentage price change. Here is a daily price chart of Russell 2000.

RTY

Russell 2000 Technical Analysis

Notably, Russell 2000 crossed below its 50 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For another vantage point, consider that Russell 2000’s price has gone up 17 of the previous 30 trading days.