Medium Price Pulse Study

     Today I will look at the medium price pulse in order to take a closer look at the rally from the 2009 low. Note how an entire medium cycle (in green; alpha-beta-delta-x-y-z) is nested within the first two (in red; alpha-beta) pulses of the next larger cycle. This implies that; in terms of Elliott Wave, we are now in either wave 3 or C from the low.
     Beyond that point of interest we can recognize the strong uptrending nature of the cash SP500 from the 2009 low. In such an uptrend the thing to do is to use the Beta - Z trendline as your stop loss point if you are already long. If not long the idea would be to look for an entry point -- and that won't be signaled by price pulse theory until we first get a 'sell' on the medium term.
     On Monday I will review the Demark Monthly chart.