Pool Corp. (POOL): Red Halo Event Horizon!

in money •  25 days ago

SUMMARY

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Here is the weekly chart of Pool Corp. (POOL) with the full five wave impulse complete, if not very soon to be. The red circle shows it to be very toppy and since a top is not an event but a process; the subwaves usually give the finer details of the progression. The MACD is also quite toppy and has likely already started to roll over.

The MACD measurement can be used to target a zone of 0.5 to 0.618 retracement; though the 0.38 should also give good support. The sequence of decline can morph away from the drawn ABC type.

The higher degree of trend shows that white wave 3 is what's topping. That means white 4 is likely to onset if not already. The red impulse are the subwaves to the white 3 and they too seem complete and well validate the EW labels. Is this the best time to be buying or selling?

Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.

Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?

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