She’s not in the race but U.S. Sen. Elizabeth Warren continues to loom over the heated presidential battle between Bernie Sanders and Hillary Clinton, keeping Democrats in suspense over whether she’ll jump into the Vermont senator’s camp.

A Warren endorsement of Sanders would jolt Clinton’s already jittery campaign just as the former secretary of state is trying to ward off a possible drubbing in New Hampshire.

It’s pretty clear now Warren won’t be voting for Clinton in Massachusetts’ March 1 primary, according to Democrats close to her.

“The fact that Bernie Sanders is running the campaign Elizabeth would have run makes it difficult to ignore that,” one Massachusetts Democrat said. “She must feel that he’s representing everything she cares about.”

For the last few weeks Warren has repeatedly hammered Wall Street greed, corporate crime and the Trans-Pacific trade deal — issues which happen to be exactly what Sanders is emphasizing. Sanders’ new TV ads on “rigged” rules against the middle class might as well have been written by Warren.

The Massachusetts senator is keeping her thoughts on an endorsement close to the vest, with some supporters saying it’s unlikely because she’s having a bigger impact by staying neutral.

But the former Harvard Law professor and liberal leader has made it pretty clear how she feels.

“The next president can honor the simple notion that nobody is above the law, but it can happen only if voters demand it,” Warren’s Twitter account declared late Friday night last week.

It was sent out hours after news came out about new Clinton e-mails deemed by the State Department to be “top secret.”

Well, no one ever said Warren was subtle. The tweet came right after Warren sent out a report about the failures of the federal government to prosecute corporate crime, but why talk about “the next president”?

The comment ricocheted around the Web in about five seconds, causing a flurry of speculation that she was giving Clinton a kick in the butt.

Democrats who have talked to Clinton say “no one has any idea what she’s going to do,” though some who are close to the Warren camp say she’s likely to keep out of the Sanders-Clinton fight.

A Sanders endorsement would alienate Warren from Democratic leaders and her own Senate colleagues, while a Clinton endorsement would alienate Warren from her liberal base. That’s not happening anytime soon.

“She (Warren) has been able to exert influence over the entire field,” said Adam Green, co-founder of the Progressive Change Campaign Committee, which was trying to draft Warren to run for president. “If it’s working why mess with it?”

But if Clinton starts to go negative against Sanders, or finds herself in a deadlocked delegate fight, could Warren resist an endorsement that tips the nomination to Sanders? Probably not.