Regarding the trend, note that the strongest trend exists on the 20 hour timeframe.
Relative to other instruments in the equity indices asset class, russell 2000 ranked 9th since yesterday in terms of percentage price change.
Price action traders may also wish to note that we see a doji candlestick pattern on e-mini russell 2000.
It’s been a feast for bears operating on an hourly timeframe, as rty has now gone down 4 of the past 5 hours.
On a relative basis, russell 2000 was the worst performer out of all 14 of the assets in the equity indices asset class today.
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe.
Or to view things another way, note that out of the past 30 days russell 2000’s price has gone up 15 them.
Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.