Several searchers are complaining they cannot find the Google Cache link in the Google search results. Here is one of the many threads at the Google Web Search Help threads.
Now that is is rolling out, people are confused as to where the cache link is. The link has been moved to the previews area. So to see a cache link, you need to click on the preview and go to the bottom of the preview to see the "cache" link.
Kelly from Google said, "Are you able to access the cached link when you open the Instant Preview of a site?"
That is the answer if you do not see the cache link in the original place, which was under the main search result:
Forum discussion at Google Web Search Help.