Chart, page-20339

Well, in most basic terms:
you should always be wary of resistance/support levels. 1 universal truth about stockmarket is: nobody knows if any stock will be up or down 50% by the end of the week; or trend sideways for the next 12 years. (With absolute certainty, that is).

The best way to look at resistance level pattern forming right now, as you mentioned:
All the money supply that was pushing SP is gone. There isn't enough money nor any of whales willing to buy stock higher than this level, at this point in time.
So now you have churn of shares: some are taking profits, some taking positions in anticipation of further gains or larger retrace.
Eventually either supply or new demand will build up and push SP in 1 or the other direction.
Given the current macro conditions and sentiment: odds are it will break up rather then down. So yeah, I agree with you on that front. I'm a big believer in combining TA, FA and other macro drivers when trading.

Now, the level of concern one should give to resistance levels depends purely on their investment strategy.
If you are for example in it for long term: just about every stock has many 50% corrections, countless 20-30% and even some 60%+ corrections; over the years. Stocks don't go up in a straight line (unfortunately for our sanity).

When you are a trader and entering/exiting stocks: You know sometimes you'll get trades right, sometimes you'll miss out on big moves and sometimes you'll save yourself a big chunk of money and be able to buy at much cheaper levels with all your profits.

Fundamentally they are 2 very different approaches and entirely different reasoning behind decisions and timeframes people speak of.
Plus everyone has their own personal goals and systems