Pool Corp. (POOL): Price & Elliott Waves & Indicator Point to a Correction

SUMMARY

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The impulse sequence for Pool Corp. (POOL) has a bit of an extended wave 1; hence the reason for a shorter wave 5. As long as wave is not the shortest between 1,3 and 5; the count remains valid. The MACD looks heavily overbought as well. Is a correction approaching?

The red arrow on the MACD pathway shows that the ABC sequence is likely to take many by surprise given how swift the red A will like be. Most are unsuspecting when a correction arrives; however, even this correction in the overall scheme of the higher degree of trends (blue) is a minor correction given that blue 3 has completed and once blue 4 completes, all time new highs are ahead. Still, the time frame is in years which needs to be accounted for.

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