Resistance for SPX going back to 2008 is in the 1395 area, and that is a reasonable estimate for the top of this rally.
March: Top anticipated 1395 area in roughly a week, then decline to 1326 to test the white trendline.
April: Sharp decline to Point 1.
May: Bounce to Point 2.
June: Point 3 - end of Crash #1 - support is in the SPX 1032 area.
July/August: Bounce to point 4.
September: Banking crisis with Crash #2 - low for 2012 with 980 SPX target.
A closer look at the symmetry present and approximate levels and timelines.
The lower highs for Financials were a warning in 2007, and they are warning again now with another lower high.
BAC lost approximately 60% in 2011 with SPX flat for 2011. BAC is likely to bounce substantially higher, but is too weak to ultimately withstand the selloff outlined in SPX this year. Unfortunately, BAC appears to be heading for crisis in 2012 perhaps around September. There is hope that issues can be resolved in some manner with a reasonable outcome.