The Hourly View for RTY
Last Updated September 23, 2020, 15:46 GMT
At the time of this writing, RTY’s price is down $-4.07 (-0.27%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
Russell 2000 Daily Price Recap
Russell 2000’s 3 day negative streak has officially concluded, as the candle from the previous day closed up 0.79% (11.71). Relative to other instruments in the equity indices asset class, Russell 2000 ranked 3rd since the previous day in terms of percentage price change. Below is a daily price chart of Russell 2000.
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. Or to view things another way, note that out of the past 14 days Russell 2000’s price has gone down 8 them.
Overheard on Twitter
Behold! Here are the top tweets related to $RTY:
- From FinancierAdeel:
$RTY positioned for a monster sell tomorrow IMO. May drop 60 points.$ES is stranger. Historically markets drop tomorrow but this one may rally. What’s changing my bias is the volume near the 225 level. We caught a bid.
- From TraderKarthik:
I’m not saying that this can’t be an actual, sustained bounce but if it is, $RTY wants nothing to do with it, which is suspect enough for me
- From tdarling1:
$COMPQ 10779 -0.1% diverged from $SPX 3281 -1.1% and $RUT 1484 -3.5% and $NQ higher this morning.$ES_F 3269 -0.2%
$NQ 10999 +0.1%
$RTY 1478 -0.3%