S&P500 - Upside expected early January

On the longer term S&P500 analysis posted last week, I set the expectation that there would be a solid drop in the index this year, but not before a corrective recovery to the upside.

Taking a closer look in the 4HR timeframe, this is my roadmap.

The yellow box indicates the 100% to 161.8% extension from waves A-B.  It is a common target for extensions, and I expect a lot of resistance in that zone.  This would also be the 50-61.8% pullback zone, also an area of interest.