has spooked the market. He resigned after reports surfaced that he had lost the war on tariffs. Stock futures are down.
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Wave (iv) has encroached into wave (i). Count is invalidated.
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Sorry for the above inaccurate update. It is not so much that wave 4 has encroached into wave 1 per se. It is that wave ii has retraced more than 100% of wave i. That is a violation of the rules. So technically, wave ii should still be wave 4 correction which then encroached into wave 1, another violation.