TVIX, UVXY - just another horrible week

With equities significantly net higher for the week, the VIX continued to cool. The 2x lev' bullish VIX instruments of TVIX and UVXY settled lower by a rather dreadful -22.1% and -23.0% respectively. Near term outlook is bullish for equities.. and by default... for the VIX to remain very subdued.


TVIX, daily

UVXY, daily

Summary

*first an update on the VIX, which saw a net weekly decline of -14.2%

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Little to add..

For TVIX/UVXY it was indeed a pretty horrific week, with massive net weekly declines.

Best guess... equities to rise into May.. which would equate to VIX remaining very low.. within the 15/11 zone. If sp'2150/75.. perhaps we'll even see VIX 9s.. which might make for an interesting capitulation low.
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*I remain somewhat bemused that TVIX, now at the lowly price of $1.27 has not yet seen a reverse split.. on the order of 1 for 20. Such a price adjustment is well overdue.