This summer, the turn dates for SPX market timing have been similar to the July/August 2010 period. In 2010, July 1st was a major bottom, and this year there was a major top early July. In August 2010, a top was formed on the 10th, and this year it was a major bottom. Many of the smaller tops/bottoms have been following this timing cycle as well.
The end of August 2010 was marked by a bottom, and the kick-off to a powerful (and memorable) rally the first week of September.
This year, the market is rallying approaching month-end, and some choppy trading could be expected this week with a topping formation. As shown below, the month of August has been sideways trade.
A decline the first week of September would best fit this timing cycle.