Russell 2000 (RTY) Up 3.7%

The Hourly View for RTY

Last Updated November 10, 2020, 01:06 GMT

Currently, RTY’s price is down $-0.01 (0%) from the hour prior. RTY has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on RTY. Given that we see an uptrend on the 20 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 entered today at 1705.03674, up 3.7% ($60.88) from the day prior. Out of the 14 instruments in the equity indices asset class, Russell 2000 ended up ranking 6th for the day in terms of price change relative to the day prior. The daily price chart of Russell 2000 below illustrates.

RTY

Russell 2000 Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 6 out of the past 10 days.

Overheard on Twitter

Over on Twitter, here were the top tweets about $RTY:

  • From TeddyVallee:

    Current positioning backdrop from our October note: US Tech = $11T or 31.2% of aggregate $SPX+ $RTY mkt capAdding in bond proxies/lower real rate beneficiaries ( $XLV, $XLU, $XLP) total mkt cap rises to $24T or 69% of the aggregate mkt cap, highest in history. 1/n

  • From _____Tasia_____:

    The longer control of the Senate remains in the balance, the higher the odds of heavy selling/profit-taking into yearend. $DJI $DJIND $DIA $SPY $SPX $NDX $NDAQ $QQQ $RTY

  • From tdarling1:

    Short vol is long equity; big week, especially for tech$SPX +7.3%
    $COMPQ +9.0%
    $RUT +6.9%Futures building on last week’s gains
    $ES 3550 +1.4%
    $NQ 12308 +2.0%
    $RTY 1660 +1.05%