This rally seems poised to defy gravity, and end with a bang. The geometry is aligned for a final surge up to 1340 SPX, and timing appears to be Monday, January 30th.
1340 is an interesting number.
The May 2011 high was 1370, and SPX fell to the Oct low at 1074. That is a 296 point drop. 1340 SPX minus 296 points equals 1044 SPX.
The calculated target for a major decline remains at 1044 SPX.