Volatility remains relatively subdued, with the VIX stuck in the mid/low teens. The 2x lev' bullish VIX instruments of TVIX and UVXY saw net weekly declines of -5.2% and -5.0% respectively. Near term outlook offers a break under the sp'2039 low, which might see VIX 'briefly' back above the key 20 threshold.
*first, an update on the VIX, which saw a minor net weekly decline of -2.6%
Despite relatively significant swings in the US equity market across the last few months, the VIX has remained very subdued. VIX is generally unable to break/hold much above the key 20 threshold.
As for TVIX/UVXY, it was just another week of moderate decay. The Wednesday spike on UVXY was due to algo-bot problems.
Regardless... as ever... holding such leveraged instruments across multiple weeks, usually ends badly.