How high can S&P500 can go in next two week ?

S&P500 6 month chart

So far S&P500 has been muddling through a very light volume trade maintaining very tight channel. S&P500 is already in over bought zone. It's setting up a mouse trap zone for bull as well as bear. If S&P500 keep moving this way with low volume, maximum it can reach 1347 by Feb 3rd, which will lead to automatic sell trigger signal no matter how volume we get. I'll list out the points where S&P500 will trigger a decline of further 5%  if it hits following level on this date.

Jan 23rd: 1294

Jan 24th:  1298

Jan 25th: 1302

Jan 26th: 1308

Jan 27th: 1310

Jan 30th: 1312

Jan 31st: 1316

Feb 1st: 1319

Feb 2nd: 1323

Feb 3rd: 1327

Feb 6th: 1331

Economic Calendar to focus this week:

GMT -5:00, DST Off

Time	Cur.	Event	Forecast	Previous
Sunday, January 22
19:30	AUD	PPI (QoQ)	0.4%	0.6%
Monday, January 23
08:30	CAD	Leading Indicators (MoM)	0.6%	0.8%
22:00	JPY	Interest Rate Decision	0.10%	0.10%
Tuesday, January 24
02:00	JPY	BoJ Press Conference
03:00	EUR	French Manufacturing PMIP	49.3	48.9
03:30	EUR	German Manufacturing PMIP	49.1	48.4
04:00	EUR	Manufacturing PMIP	47.4	46.9
05:00	EUR	Industrial New Orders (MoM)	-2.2%	1.8%
08:30	CAD	Core Retail Sales (MoM)	0.2%	0.7%
08:30	CAD	Retail Sales (MoM)	0.3%	1.0%
15:00	GBP	BoE Gov King Speaks
18:50	JPY	Trade Balance	0.36T	0.54T
19:30	AUD	CPI (QoQ)	0.2%	0.6%
19:30	AUD	Trimmed Mean CPI (QoQ)	0.6%	0.3%
Wednesday, January 25
00:00	JPY	BoJ Monthly Report
03:00	CAD	BoC Gov Carney Speaks
04:00	EUR	German Ifo Business Climate Index	107.5	107.2
04:00	EUR	German Current Assessment	116.8	116.7
04:00	EUR	German Business Expectations	99.0	98.4
04:30	GBP	BBA Mortgage Approvals	35.3K	34.7K
04:30	GBP	GDP (QoQ)P	-0.1%	0.6%
04:30	GBP	MPC Meeting Minutes
06:00	GBP	CBI Industrial Trends Orders	-19	-23
08:15	EUR	ECB President Draghi Speaks
10:00	USD	Pending Home Sales (MoM)	-0.5%	7.3%
14:15	USD	Interest Rate Decision	0.25%	0.25%
14:15	USD	FOMC Statement
15:00	NZD	Interest Rate Decision	2.50%	2.50%
15:00	NZD	RBNZ Rate Statement
Thursday, January 26
Holiday		Australia - Australia Day
02:00	EUR	GfK German Consumer Climate	5.6	5.6
06:00	GBP	CBI Distributive Trades Survey	1	9
08:30	USD	Core Durable Goods Orders (MoM)	0.9%	0.3%
08:30	USD	Durable Goods Orders (MoM)	2.0%	3.7%	R
08:30	USD	Initial Jobless Claims	370K	352K
08:30	USD	Continuing Jobless Claims		3432K
10:00	USD	New Home Sales	320K	315K
16:45	NZD	Trade Balance	-50M	-308M
18:30	JPY	Tokyo Core CPI (YoY)	-0.3%	-0.3%
18:50	JPY	Monetary Policy Meeting Minutes
18:50	JPY	Retail Sales (YoY)	2.0%	-2.2%	R
Friday, January 27
05:30	CHF	KOF Leading Indicators	-0.06	0.01
08:30	USD	GDP Price Index (QoQ)P	2.0%	2.6%
08:30	USD	GDP (QoQ)P	3.0%	1.8%
09:55	USD	Michigan Consumer Sentiment Index	74.2	74.0