The preferred count is the wave 3 higher written about 2 weeks ago is still alive, albeit barely. It suggests prices continue to follow through on a move higher that carries towards $1245. $1245 is where wave iii = 1.618 * wave i which is a common relationship.
The second interpretation is that we are working a larger higher. Zig zags carve as a 5-3-5 pattern. In this case, our '3' is shaping up like a triangle (note the alt labels). This suggests we fail below 1156 and retrace back towards 1110. Near 1110 is the buying opportunity under this interpretation for a target range near 1200-1225.
Bottom line, a failure in price early next week opens the door for a buying opportunity near 1110 (1090 stop) and target 1200-1225.