$CAT has been in a “Go” trend since October.
Recently price has been edging higher after trading mostly sideways since November highs. A Go Countertrend Correction Icon (red arrow) warned that price may struggle to go higher then. A break out of a max GoNoGo Squeeze on heavy volume gave price the push it needed to creep above resistance. Now, GoNoGo Oscillator has returned to test the zero line from above. We will look for support at this level and for the oscillator to rally back into positive territory. If this happens, we will know that momentum has remained on the side of the “Go” trend and can look for price to set a new high.