So far this year I've had a couple of posts comparing 2012 to 2006. In January, I mentioned that 2009-2011 had unfolded in a very similar pattern to 2003-2005. Then again in April I mentioned that if this relationship were going to maintain itself then we would have to have a steep correction on the S&P. Well, correct we have, and so here's an updated version of the 2006 vs. 2012 chart.
It may be coincidence or it may be a manifestation of an economic cycle, but either way it seems noteworthy that the 2003-2005 pattern continues to match the pattern of this bull market so closely. We find ourselves basically at the exact same level at the exact same time of year as we did in 2006.