E-Mini Russell 2000

This move is a reversal from the hour prior, which saw price move up.

If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe.

Regarding the trend, note that the strongest trend exists on the 100 hour timeframe.

Price action traders may also wish to note that we see a doji candlestick pattern on rty.

This is a reversal of the price action on the previous hour, in which price moved up.

Relative to other instruments in the equity indices asset class, russell 2000 ranked 4th since the day prior in terms of percentage price change.

For another vantage point, consider that russell 2000’s price has gone up 5 of the previous 10 trading days.

Interestingly, a trend in the other direction exists on the 30 day timeframe, where price is headed down.

What’s changing my bias is the volume near the 225 level.

What’s changing my bias is the volume near the 225 level.