Caterpillar Inc

CAT remains under medium-term bearish distribution dynamics, failing to sustain rallies into the 9/20/50 EMA cluster. The long-term uptrend is intact, but intermediate pressure and lower highs/lows keep the bias negative. Short-term timing is neutral as price consolidates around the EMA zone. Defer trimming into renewed strength toward the EMA cluster for optimal execution.

• ↑Record Q2 revenue $20.5B (+24% YoY); EPS $8.17 (+73% YoY)
• ↑Backlog $72B (up $9B sequentially); 59% deliverable next 12 months
• ↓Tariffs impose ~$600M costs; annual impact ~$2.2B, squeezing profit margins