I said I’d elaborate next weekend.
But I have a relevant chart to share now. (Not mine)
Peruse the EWers out there, and you’ll find more than several calling for a terminal pattern as Ending Diagonal.
EDs are entirely ‘threes’ internally (abc’s) even in their 1st, 3rd and 5th waves.
Signaling weakness. No impulses.
We are likely close to completing the last b wave, with only c up to go.
This next top won’t mean sky is falling, but a large correction is expected by many.
This chartist posted this BEFORE the tariff noise, and after, and today. He said the markets would recover today.
He says the real bogeyman sits in Tokyo at BOJ.
We’ve discussed this here, before.
My own charts say …watch the yen a month or so from now. FL thinks sooner, after the next OPEX.

Oh, and yes, before you Comment that it says “2020” not 2025.
FL’s point is this chart is from the period when we all knew covid was going to be trouble, but the markets didn’t seem to care. They rallied INTO THE NEWS, strangely.
So this call is that they intend to stop out the early shorts (in c up), and THEN do the rug pull.
Just like in early 2020.