A Trending Pattern In the Medium Term Pulses

My last post showed a Zigzag pattern (alpha-beta-delta price pulses) forming on the quarterly chart with the delta pulse beginning at the July 2010 low. In wave pattern terms the Delta pulse is synonymous to the 'C' wave of the Zigzag and should itself be a Trending pattern (five waves making higher highs and higher lows).

The chart of the Medium Price Pulses (using monthly bars) reveals this trending pattern (alpha-beta-delta-x-y).

Unlike Elliott Wave, the third wave (delta) in a price pulse trending pattern CAN be the shortest when compared to alpha and y. In such cases my early research indicates that alpha and y will very often be similar in length as they are now.

Since the Medium pulses show that the Zigzag from the 2009 low is nearly complete (in pulse 5 of C) we must be wary that the entire 'D' wave of the expanding triangle from 2000 is also nearly complete. The 'y' pulse (or fifth) on the Medium Pulse chart should itself be a trending pattern on the Intermediate Price Pulse chart. I will take a look at that in my next posting.