Russell 2000 (RTY) Up 1.96%, Breaks Above 50 Day Average; in a Downtrend Over Past 14 Days

The Hourly View for RTY

Last Updated November 3, 2020, 00:06 GMT

At the moment, RTY’s price is down $0 (0%) 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 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

Russell 2000 entered today at 1568.592, up 1.96% ($30.11) from yesterday. Relative to other instruments in the equity indices asset class, Russell 2000 ranked 5th since yesterday in terms of percentage price change. Here is a daily price chart of Russell 2000.


Russell 2000 Technical Analysis

Moving average crossovers are always interesting, so let’s start there: Russell 2000 crossed above its 50 day moving average yesterday. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. For additional context, note that price has gone up 18 out of the past 30 days.

Overheard on Twitter

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

  • From sg_futures:

    Overnight U.S. equity futures are fairly static, we expect things to be fairly slow over course of today. This is a week packed with risk events, there’ll be plenty of buses to catch!$ES $ES_F $NQ $NQ_F $YM $YM_F $RTY $RTY_F

  • From vinniepalma:

    So, if there’s a contested election with severe market losses, this week’s #Fed meeting could be a factor and force them to step into the fray🧐🤔
    #Election2020 $ES $NQ $RTY