With the VIX building powerful gains across the day, the 2x bullish VIX instruments of TVIX and UVXY saw the biggest net daily gains in a very long time, settling higher by 33.5% and 32.5% respectively. Near term outlook offers the VIX 20/21 zone.. along with sp'2050s.
*first, an update on the VIX weekly cycle...
Finally... the 2x bullish VIX instruments saw a really impressive day.. but then.. it doesn't make up for the past few weeks.. never mind months of relentless decay.
Regardless of another few days of upside in the VIX... equity bears trading the TVIX/UVXY.. or even VXX, need to be mindful that these up cycles never last for very long.
*I exited a VIX-long in the morning. Will be seeking to be involved in the VIX into the Sept/Oct period.