TVIX, UVXY - strong gains for the week

With continued equity weakness, the VIX climbed a little higher into months end. The 2x bullish VIX instruments of TVIX and UVXY both climbed, settling +2.1% and +1.6% respectively. Across August, TVIX/UVXY gained around 20% and 25% respectively.


TVIX, daily

UVXY, daily

Summary

First, the VIX weekly...

Indeed, for the VIX itself, we saw very strong gains this week of 21.7%. There looks to be easy upside to the 200 MA of VIX 20..within the next two trading weeks.
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*my main market outlook remains unchanged, with sp'1570/60s, and VIX in the low 20s.

In terms of TVIX/UVXY, that should equate to further upside of around 35-45%.
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As ever, even those equity bears seeking much lower lows in Oct/Nov - as low as the sp'1400s, should be mindful  that holding any leveraged instrument across multiple weeks is rarely a good idea.

Yes, I might sound contradictory, since I've highlighted the gains for August, which on any basis, are VERY significant, but still...the longer term charts are clear enough, in illustrating the decay issue.