S&P Set for 50%+ Gains?

UBS's David Bianco call of 50% gain in S&P 500 has been ridiculed. However the call has historical precedence. The snap back from the 73 - 74 bear market was equally stunning. Here is the graph.










Now compare it to the current graph. Something similar seem to happening. Note the jagged edges which marks the bottom. If we are close to the bottom we may be set up for 50%+ bounce.