Caterpillar $CAT has been in correction mode since early 2018 when it peaked at $173.10 a share. The daily chart below shows us that this correction changed up after October - it accelerated and became sharper. Then, after a bounce from $112-$143, we are likely looking for another bearish swing.CAT Daily Chart(click to enlarge)ABC Correction? - There was a bullish correction against the overall 2018 bearish correction.- Price rallied from $112 to $143, in an abc correction pattern.- Note that price held below a previous resistance pivot, and the 200-day simple moving average (SMA).- Meanwhile, the RSI held under 60 for the most part, except for a brief violation.- These are signs that bears are still in control.- The $112-$116 support area back in sight, with downside risk towards the psychological level of $100. - This $100 level was also a support/resistance pivot, as we can see on the weekly chart.- Finally, returning towards $100 would be a pullback to the 200-week simple moving average, a scenario we can expect during a this risk averse market. CAT Weekly Chart(click to enlarge)