Thats what every person is thinking. Even perma bears think the drop will come in January. My guess is it starts Monday as nobody suspects it and the massive distribution via gap ups daily for three weeks that were sold into at premium prices. Now they will simply take the markets down. When they gap the markets down 20 days in a row to buy it cheap, thats when you will know the reversal will take place.
The bulls will hold this short term. Although there may be some drops for the rest of 2011 I think the bulls will offset those losses. The issue coming is the continuing lowering already lowered earnings and that does not come out full force until Jan.