Steve Miller on $CAT (Nov 8, 2026)

We will look at CAT, WIN and Baidu stocks. Caterpillar's stock has taken a complete and utterly crushing blow . This is related to artificial intelligence because they experienced a surge in growth due to all the construction work they were going to be involved in at the data centers.

We know that there is a significant decline in that now.

Let's take a look at Caterpillar first. Here are Caterpillar diagrams for those new to this field. This is a periodic analysis . What we are doing now is overlaying market rhythms, which is simply a drawing tool at the bottom, on top of our own analysis.

What we are looking for is market momentum, and that is the " reversal detector" here, which tells us about momentum that you can see has attempted a bounce but has turned negative again.

When it turned negative here, it was a signal of the top on the weekly chart. This is the daily chart which also contains the " Reversal Spotlight", the "Slim Ribbon" thin bar, the "Slim Ribbon PO" indicator here, and the Options Bias indicator here.

So when we look at Caterpillar on the weekly chart, and I'll expand on that for you, what we see is that it's moving downwards, and if you look at these rhythms in the market here, there's likely to be a bottom within the next few weeks.

The stock has dropped from 1073 here to 549. So it has essentially lost about 48% of its value during this period, and we know that June was the peak for many stocks in this market, especially in the high-market-cap technology and AI category.

Caterpillar is associated with it because of the potential that indicated it would perform exceptionally well based on the construction of data centers. This is still possible, and the tone could easily change as we start to see Democrats saying: Okay, we're going to build these data centers.

We'll just be a little more careful about that. And then you will start to see these stocks recover . So you can see the timing window for the bottom here. Now when I move on to looking at the daily chart, you can see what happened here, which is that the momentum is negative, as you can see here .

Look at these signs here. This is the "Slim Ribbon PO" indicator, and it gives you these signals about the resumption of downward momentum, and you can see how great that is. This is a level four indicator.

This is where the options bias indicator was telling you to maintain your bias towards the sell side in these options positions. There was a slight fluctuation here and then it went negative again, and now all the way from mid-October to November it was saying keep your positions on the sell side.

That was wonderful. So if we're looking for a bottom, it looks like it might happen here in mid-November. There will be a correlation here with the likelihood of a good- sized bounce, and you might get a bounce from some level , you know, from 550 down here.

This resistance is my lowest resistance level at 677. So you see, there could be a very large bounce here once this bottom is established. I have no reason to say that the bottom has yet been formed, and if it hasn't, the timing tells me that there is still a risk of a pullback.

This should be put on the radar. What you're looking for are improvements here and a sign that you're getting an upward turnaround. Now, I'm going to show you some stocks that have already given you an upward turnaround, which is the important thing.

So that you don't, as they say, pick up the " fallen knife" and get hurt too early. So, this is just a reminder to monitor for signs of improvement. You might get the first signal here on the Slim Ribbon PO indicator or the reversal detector tool here, and then you get a sign of improvement.

You might get that on a two- hour chart. Now, a market conditions monitor can help you with that, and even receive notifications when the two-hour chart turns positive. Well, that was a look at Caterpillar.