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?
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Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
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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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