This rally still appears to have one last pop left in it. Monday the market should dip a little, but it seems that judging by the geometry, this could top out around Tuesday at near 1311 maximum (red line). From there it looks weak into Jan 12th or so, and a test of near 1255 is the target on that decline.
All of this January topping process is setting up for Crash #1 of 2012. The Crash target is 1044 SPX in February. Additional charts will be following to show February timing, but let's finish up with the top first and foremost.
I did mention that 2012 was going to be a wild year!
There is a need to look back to 2008 to see the best perspective on this market. There is strong resistance just overhead.