This very long-term chart shows that in 2015 at a price of 2158.70, the S&P 500 traveled 1491.91 points off of the March 2009 low, which equaled the distance traveled between October 1974 and March 2000.
If we extrapolate from a 1:1 ratio to the next Fibonacci relationship -- or 1.236 x the distance of the 1974 to 2000 advance -- we then arrive at a target of 2510.79.
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