S&P Point and Figure

My chart suggests that if the SP can hold 1420 on close, the technical price objective is 1510. I am skeptical, and the "price objective" is subject to change, but it is objectively determined and often a good indication of the next price attractor. It is by no means a buy signal. On the other hand, I will go long at that point, and inspite of it being May etc, etc just to amuse myself and possibly make some money. I use StockCharts P&F, so check it out. Best, Islander.