SUMMARY

A weekly chart of Caterpillar (CAT) is shown below...would you buy at this point? Or would you be taking profit sell actions?

How about now? If there is a likelihood of five Elliott Waves being complete; is it the best time to buy? Elliott Waves state that after a five wave motive; there is requisite correction.

Danger Will Robinson! I believe a correction is very likely as shown by the ABC labels. The MACD is also quite overbought (small red circle).

Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.

Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
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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