NYSE:CAT Caterpillar, Inc
I am an idiot! Well, not really, but for a day or two, not seeing this for what it was and what it could be. CAT represents markets and oil , and since it is world wide blue chip, says a lot with its action, always has, always will. This is a chart of CAT 2011 mini crash, related to oil , spy , etc. I will post the same chart, for present day, and then a chart with both expanded to see both side by side (because I don't know how to do this is one chart on tradingview) NOTE... the t/l splits the gap bulls eye between the second set up, AND crosses right at D first and right at C second . What I have said and posted was I was watching a possible for CAT at D and see gold horizontal line at second . BUT... we are at a most opportune moment. HERE'S THE DEAL... if we bounce with strength, and watch for failed test to either blue line or go above and stay, making resistance support, then we will NOT repeat 2011. BUT... if we break below, especially on gap strength, then this would confirm possible repeat of 2011. Note the indicators, and note the relative positions of OIL dollar, etc. Same pinball action as now, as you will see in next chart. I am posting as a SHORT, just because that is the way I am leaning and think this will go, but we do have to wait and see next week's action.