CAT crossed downward the last daily fractal of 202 on may 10. One day after, there is still a red zone bar, bearish divergent that provides an improved opportunity to enter.
Williams theory dictates that a Blue Light special would be entered after crossing the las lowest low, this would mean tomorrow (may 12) crossing below 203. 59 (todays low).
Im shorting today however, at 205.53. First confirmation would be crossing below 203.59 and then below 202 again.
Stop loss is price closing above the Balance Line (red). Target is whenever the trend ends, which is also signaled by price closing above the Balance Line.