Recall my series of blog posts on industrial giant Caterpillar over the past few years, especially this recent one here. It has been a slow-developing process, but the stock continues to hold that critical low-$80′s level. Updating the monthly chart below, you can see Caterpillar is threatening to turn up and press off major support.

I am reticent to look for a fresh cyclical bear market until an industrial giant like Caterpillar breaks down through multi-year support.

_____________________________