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Where's the Beef?

According to High Frequency Economics, exports to China account for only 7% of all US exports.  Is it market efficiency or the Elliott Wave count.  According to Elliott Wave Int'l..."It is now possible to count all the subwaves in place for the final leg of the second-wave upward correction. This implies that the main stock indexes are returning to the larger bear market. If so, today's highs should remain intact."

Disclosure: short 65% S&P 500, 35% cash