With the main indexes clawing to new post-2009 highs, the VIX was ground lower across much of the day. Both the 2x bullish VIX instruments of TVIX and UVXY saw appropriate severe drops of 8.0 and 9.9% respectively. The VIX itself closed around -10% for the day, but was flat for the week.
The long term trend is down, but then...such is the case with almost all of the leveraged instruments, even the ones where the trend it broadly in their favour.
I suppose the TVIX/UVXY holders who have been holding for the past week or two could claim that new lows are NOT yet being put in, but still..the daily charts - as ever, are a sight of abject horror.
It has to be said, the VIX does look floored on the bigger weekly chart. Yet it could be weeks, even months before we see a major multi-week up trend, and even then, it is probably going to be tough to break the important VIX 20 threshold.
*personally, rather than trade VIX via TVIX, UVXY, or even VXX, I prefer VIX options, but thats even more of an issue in terms of time-decay..