Caterpillar Inc -CAT -Daily -Retest of Distribution Top - ShortThe chart shows the pattern, setup, triggers, stops and targets.
The trade sets up from the low volume rally back to the frequent trading zone over 104, up to 110.
There is a "time at mode" buy signal that is failing quite dramatically if CAT doesn't reach 107.70 by Monday's close of trading. The downside target appears to be at the 96 level (+1/-1, or 97-95). Stops are just over the recent swing high plus a point or so. Stops @ 104.20 and up.
Tim November 14, 2014 3:30PM EST 101.39 last.