TVIX, UVXY - just another lousy week

With the VIX falling -12.8% across the week, the 2x lev' bullish instruments of TVIX and UVXY saw net weekly declines of -6.6% and -7.5% respectively. Near term outlook is for the VIX to remain subdued as sp' climbs into the 2000s


TVIX, daily

UVXY, daily

Summary

First, an update on the VIX, weekly...

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As for the 2x instruments.. it was the second consecutive weekly decline. TVIX and UVXY have now erased all the gains from the lows in late June.


Outlook into late summer

Best guess remains.. sp'2030/50 in September, before the next opportunity for a multi-week down wave. VIX will likely jump into the high teens in October, but the 20s look difficult.. even if we see a down wave to the low sp'1900s.

On any near term outlook, I have zero interest in being long the VIX until at least late Sept/early October.