In July 2002, the SPX rebounded from the 50% retracement of the March 2000 ath of 1553.
Currently, the SPX is looking for support at the 50% retracement of the 2002/2007 range.
Well, that support didn't last very long, although it provided some very good intraday short-term long entry point,
and there are signs that a rebound should be coming sooner rather than later:
In any case, the 2001 analogy is working pretty well, and it's funny that Bill McLaren changed his tune, and is now looking at 1969/70, instead.