Balloon observations of proton and helium spectra in 1970, 1971 and 1972, reveal a factor of approximately 1.85 deviation from a single valued regression at low rigidities. This deviation decreases with increasing rigidity for both species. The period 1969-1970 is unique because time variations at low and high energies were anti-correlated. When satellite observations are used to extend the balloon observations to energies below 100 MeV/Nucleon, the proton spectrum showed a steeper slope in 1970 and 1972 than the characteristic J = AT spectrum observed during 1965-1969. The slope of the helium spectrum became continuously flatter during the same period (1970-1972). Computer generated spectra based on simple two parameter modulation models describe the basic features of the observations if one of the variable parameters is used to characterize the rigidity dependence of the diffusion coefficient. Models which do not allow such a variation are not consistent with the observations.