The Russell 2000 opened below the 114.00 axis line (resistance level) as shown by the iShares Russell 2000 ETF (NYSEARCA:IWM).
Today's price action could not penetrate the resistance area to the upside and the down-trend remains intact (although being tested).
Chart by TeleChart
If the down-trend line is penetrated to the upside in the next session, then the current move (lower) in the IWM may be complete.
Disclosure: The author is long TZA.
Additional disclosure: For illustration only. Not investment advice