Are you saying that the S&P500 graph is wrong?
From '66 to '82 it shows (roughly)
6.4yr bull - up 143%
1.6yr bear - down 29%
2.5yr bull - up 76%
1.8yr bear - down 43%
12.9yr bull - up 845% (till roughly '87)
Doesn't seem like 16yrs of sideways to me??