With equities building strong gains on a Goldilocks jobs number, the VIX was crushed back into the 12s. The 2x bullish lev' instruments of TVIX and UVXY saw net weekly declines of -2.6% and -1.5% respectively. Near term outlook is for continued equity upside, which will keep the VIX subdued into June.
*first, a reminder on the VIX, which despite the Friday decline, saw a net weekly gain of 1.3%.
Little to add.
Equities look set to battle higher into the sp'2140s.. if not the 2160/80 zone.. as early as mid June.
The big VIX 20 threshold looks out of range until at least the FOMC of June 17'th.
As for TVIX and UVXY.. the week over week... month over month horror show.... continues.