Medium-Long Price Pulse Study

 

     Yesterday we saw how the Demark studies on the yearly chart lent support to a bullish view for the next few years although the long term price pulse (PP) data urged caution. Why the apparent conflict? Let's see if the Medium-Long (ML) price pulse (see chart) can tell us anything.
     The ML PP flashed a 'sell' signal in July 2008 when its beta-x trendline was broken. In this sense it led the long term PP in doing so. However; unlike the long term PP, the ML PP has gone bullish. This occurred in November 2010 when the recent alpha peak was surpassed. Bottom line: Medium-Long PP is bullish; Long term quite cautious. Tomorrow: Demark on the Quarterly SPX.