SPY headed to 128 without significant correction?

Friday didn't go at all as I expected so I decided to look for justification as to how we might rally all the way to 128 without correction:

In 2000-2002 the drop from 152 to 88 took two years, and the recovery back to 152 took 4 years. This can be interpreted as meaning that gradually investors realized stocks were overvalued, and gradually stocks built back value.

In 2007-2008 the same 152 to 88 drop took about a year. But the majority of the drop from 128 to 88 took 3 months. And correspondingly we have seen a relatively rapid recovery: in 9 months we're almost back to 128. So the 128 to 88 drop can be interpreted as an overreaction by investors. Stocks should never have dropped to 88 or below, they only dropped that low because of panic selling and that's why we've recovered so much so quickly because investors realize that things weren't that bad.

From this perspective, we should head to 128 without a significant correction.