If the waves are fourth order, then they cannot overlap; If the first wave and the fourth wave overlap, then the fourth wave has not yet formed, and the "fourth wave" overlapping with the first wave is actually the second wave that the third wave is forming. At present, the Shanghai stock market or Shenzhen stock market is in the second place in the formation of the third wave, and because the second wave is a sawtooth adjustment wave, the decline is deep, so there is an "overlap", which makes the landlord mistakenly think that there is an overlap between the first wave and the fourth wave, but the real fourth wave has not yet appeared, and what you see is only the formation of the third wave.
There are special cases of overlap in futures, but the overlap is very small and rare.