There was no wiggle room for the index heading into Friday as it managed to claw back the 'breakdown'. It went one step better and posted one of the better performances on Friday.  While the index has come back from support, it hasn't yet challenged the consolidation 'bull trap' - but look for this on Monday.
 

What will help the Russell 2000 is the new closing high for the Nasdaq. The latter index wasn't able to post more than a 0.5% gain, but it did keep the rally from November lows intact and this is good news for bulls looking for similar action from Large and Small Caps.
 

The S&P had a quiet day as it did all it could to bump against resistance without breaking it. The MACD is still on a 'sell' trigger despite the relatively neutral price action. Given what happened in the Nasdaq on Friday the likelihood the S&P will follow with new highs on Monday is strong.
 

For Monday, bulls should watch the S&P for its potential to follow the Nasdaq higher. If there is a weak open, then the Russell 2000 becomes the watch index for a return to (and below) consolidation support.