The Russell 2000, a true indicator of the broader market strength, is keep testing its major resistance. The original idea that it could offer a better upside reward is still intact. Usually, a support or resistance eventually gives up after multiple testes.
In case of the successful breakout the released energy would propel the market - there will be a lot of chasers who is watching it and wait for confirmation. It would also help the S&P 500 to move higher or at least to remain at the higher prices.
In case of a false breakout, things could turn ugly for the buyers.
Watch the index for a great opportunity unfold. If you don't trade futures look at the IWM ETF.