I think that in the next days or so the SPY will put in a final top near SPX 1450/1470.
I then anticipate a 10% drop until the end of October near SPX 1300.
Then another rally shy of SPX 1400.
I think we finish the year near SPX 1350 and start to decline in 2013 towards SPX 1100 by the summer of 2013.