There is obvious technical resistance via the SP500 daily chart.
With the thesis of stability now in play, the SP500 consolidation should be minimal. It should maintain the 360SMA support, near 1230.
Even with my 'not so optimistic view', if we only see 5% earnings growth the SP500 will have around a 100eps, suggesting a 1300-1400 market for 2012 via a trailing multiple of 13-14. For a year end push higher, the best plays are the ones already benefitting. The most obvious are IBM and GOOG. (Although the EU will look to milk Google through their 'anti-competitive' claims.)
The only market concerns that remain now:
1. An EU bank goes under
2. EU country downgrade
3. Iran conflict escalates
None of the concerns will create a credit event, as the global central banks will prevent it, and the market is already discounted enough that these issues will be minor bumps, not major shocks.