VX Complex has a bit more work to do to the Lower end of the Range.
Year-End it is quite easy for the ALGOs to compress the Range into a Full Retracement after continued failures to move and close above the .618 @ 22.90.
There remains a concerted effort to continue the compression leading the ES YM RTY to a Lift.
Of concern for January, China is amassing Commodities in amounts unseen before and moving quickly to become as Food Independent and free of all imports Net of Feed Stocks.
Soybeans were replaced with Corn for the Season, which is somewhat curious, as Feeder Inputs appears to be a better decision for Livestock.
The CCP has been on a tear to reduce all Foreign Dependence, in excess of 84% of all Food Stuffs have been secured internally.
VX Compression was noted last week in a commentary and Chart which showed the Lower Price Objective and Compression. The Divergence within is of concern as when compression ends - This is when we see the VIX move higher, significantly higher.
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