$VIX continues to set up in a bullish posture, holding support like a world-champ while continuing to make higher lows despite the broad market making higher highs. Pretty stark deterioration in market internals on this recent thrust to new highs & I’m even noticing a rare deterioration within the Mag 10 (NVDA & APPL doing almost all the lifting, especially today).

$VIX tends to run in fairly regular spurts & if you eyeball the chart, it looks like it’s due up for the next one. I was going to do a video today & cover it, but decided to hold off until tmrw. Will probably get it out before noon tmrw or at least a chart or two of the $VIX.

CORN broke down below the uptrend line off the recent lows today, so not great for that one but still comfortable above the mid-Aug (divergent) low but may drop back to the 17.22ish support following today’s breakdown with the daily PPO poaised to make a bearish crossover on any more downside.

WEAT also posied to make a bearish x/o on the daily but still has those big positive divergences & still trading at that major long-term uptrend line on the daily & weekly charts, so the longer-term outlook is still bullish, IMO. WEAT still needs to take out those first 2 resistance levels on my 60m chart to get going.

SOYB still doing a slow zig-zag higher in the late 2024 divergent low (daily chart) but still needs to take out my T1 level ((hit twice already) to run.

Not sure about the latest fundamentals on cattle but a lot of the recent big move to multi-year highs, if I recall correctly, was due to import restrictions on cattle from Mexico (and possibly Canada?) plus that nasty little flesh-eating fly (screw-worm) that’s been making its way up from Central America & threatening the TX herds.

Yes, “come on in! the water is warm”.