Price Pulse Waves - The Big Picture

During my long break from posting I have continued to study/refine the Price Pulse methodology I have been working on. Usefully, I think that one can make use of the pulses to make wave counts. The wave patterns created are similar to those created via the Elliott Wave methodology but certainly not the same. For instance, an impulse wave in price pulse terms can have the third leg as the shortest when compared to waves one and five. Other differences will become apparent as we go along.

To start, here is the Long Term Price Pulse Chart as shown using Yearly bars on the SP500:

The analysis shows that a complete price pulse cycle has played out since the last major low prior to when this chart begins in the early 1980's. The complete cycle is composed of six pulses: alpha, beta, delta, x, y, and z. We are now in an alpha pulse from the 2009 low.

In wave terms, the fourth wave in an impulse pattern began at the 2000 high. Fourth waves are always corrective patterns and here we see a rare expanding triangle forming. The pulses correspond to the waves and so we are currently in wave 'D' of the triangle. The scary implication is that wave 'E' is next; a move that will take the SP500 below the lower trendline!

How close are we to completing the 'D' wave and starting the big decline? To answer that question we will need to explore the lower level charts. Next up: The Quarterly pulses.