Catepillar $CAT ended a year-long bull run when it capped around $173 a share back in January. Share price fell late January and early February like the overall market did. It recovered much like the market indices and is retreating this week in sync with the market as well. And just as we think there will be more general market correction, we believe CAT shares will also dip in price. The bearish outlook is supported by the technical (charting) analysis as well.CAT Daily Chart(click to enlarge)ABC Scenario:- The reason I say the chart also shows a bearish outlook is because the RSI dipped to 30, and was able to hold under 60 after it pulled back up. This shows maintenance of the recent bearish momentum. - The daily chart shows a specific type of projection.- This scenario simply projects another wave down that will be similar to the previous wave down we saw. - By the looks of this weeks volatility, it looks like it can match the previous swing down, or at least come down to test the consolidation around area $136. - Meanwhile, there will be a rising trendline to challenge the bearish attempt. - I think there will be some strong buying if price does indeed fall into the $136-$140 area.