Beaming Up

Into the midday portion of the trading session, I am watching the $122.50 area on the small cap ETF, IWM.

We saw a breakout above it, with Chair Yellen beaming it up this morning. However, just as soon as it broke out above the highlighted resistance trendline on the 30-minute chart, below, it came back down to "squat" at the top range. 

Into the afternoon part of the session, I am looking to see if this is a simple breakout, retest, and resumption of the move, or instead if it a true false breakout which accelerates lower.

I am also watching UGA (gasoline) and UGAZ for entries.