$CAT could not hold above its blue line in the bull case and came back down to test the expanding megaphone pattern trend line, which just happens to be the 0.78 Fib and held this level very well and bounced.
$CAT could take another chance at its blue line again but will need to hold above this level next time, any rejection at $266 and this could drop into the bear case.
For now, the impulse wave is moving fine and structured.