If the downward trend continues, the upper will actually turn up, indicating an unpredictable market. Also the stochastics will become embedded beneath the 20 line.
The bottom may be out of the tub and there may not be a better short entry than 114.50. Do not put on too large of a position because the Russell is very dynamic and loves to hit stops and reverse on you. This is a long term play until the is broken or you feel comfortable banking some profits.