yauger

Potential Bullish Triangle

NYSE:CAT   CATERPILLAR INC DEL
CAT has the potential to be unfolding in a very large bullish triangle. I am not holding the outlook with blood in my hand but it is a structure to keep an eye on as it might help us to be on the right side of the market. Furthermore, if indeed CAT is moving sideways for a while, we know that triangle precede the last move implying two things: we might have a choppy market before the final leg materializes and end the rally from 2009.

In other words, for the long term it might mean a large bear market might be ahead of us. Probably in a couple of years.

for the short term, have a look at the weekly chart published here.

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