Thank you as always

Possibility this week but most likely next week should provide some color on whether or not the market will top around this level. Fed rate cut on deck today with Treasury yields at key resistance (bonds at support) so waiting to see how the bond market reacts to what the Fed says later today.

Plenty of longs posted lately to indirectly hedge/off-set any shorts on the Q’s so as I suggested in recent videos, best to keep things relatively light this week (due to the election & FOMC) & not read to much into what happens this week as it was about a 100% certainty that we would (and so far did) get some big moves after the election & now, potentially, after the FOMC announcement.

Need to see how the weekly candles on the indexes & key stocks print at the close tmrw & possibly next Fri. Plenty of movement in various stocks & sectors outside the broad market with much better R/R profiles but I will continue to keep a very close eye on the indexes this week & next but taking anything before tmrw’s close or next week with a grain of salt due to the election & FOMC.

Here’s my weekly chart of CAT & you can see the pattern or trend changes (as well as corrections before the bearish trend changes, although not so much on the bullish trend changes) that occurred on the initial divergent highs.

This current DH is the largest in yrs but zero sell signals at this time with the next one to come on a break & weekly close below the first uptrend line (rising wedge pattern) on this chart with a minimum swing/trend target of the primary uptrend line below it & quite likely that 161 support. I set an alert on that minor TL for a heads up when it goes.

Unrelated to CAT, what are your thoughts on PSEC? Falling wedge on the daily and it pays a 14% dividend. Do you see any major risks with BCD companies?