Back in August I posted this article that gave parameters for an intermediate term buy or sell signal in the Russell 2000 cash index. The buy signal included a close by the Russell 2000 cash above 827. The Russell closed at 837.95 on September 6, then a few days later on September 14 spiked to a close of 864.70, then began to immediately decline as the US indices proceeded to generate intermediate term sell signals as discussed here.
On the eve of the US elections the Russell 2000 is trading not far from the level it was trading in August when the post referenced above was published. The indices have traded to and so far are holding critical intermediate term Key Reference Areas (potential support, but most certainly inflection points from where we expect sharp trending activity soon).
The initial signal the sharp move is going to be lower is a close below 793. The initial signal of a sharp move higher is a close above 844.