The last 3% correction, the spx fell 45 points, if you add that to the high it fell from, 1530, you get 1575, which is also the high from 2007.
Expect a 3% or bigger correction from there, if everything else lines up. Still too much fear in option players. OH, expect a run up into the close friday, options expiration, although the last 15 minutes is always dicey about what happens.