Answer:

You are absolutely correct, Justin. When a market's larger trend (say of 2 or 3 degrees higher) is impulsive, all smaller time frames will exhibit impulsive behavior more often. When the larger trend begins a consolidation or bear market, corrective patterns will dominate the behavior of all smaller time frames.

For the above reason, the mid and late 90's (when most stock markets were in bull phases) exhibited impulsive activity on many time frames. Following the high in 2000, when U.S. stock averages began their 15-20 year consolidations (i.e., bear markets), the number and complexity of corrective patterns "exploded." As a result, you are hard pressed to find any impulsive activity after September 2000 (the start of the bear market in the S&P 500).