TVIX, UVXY - a week of horror

With the VIX continuing to cool, the 2x lev' bullish instruments of TVIX and UVXY saw severe net weekly declines of -32.8% and -33.4% respectively. Near term outlook offers a short term bounce, before resuming lower into early August.


TVIX, daily

UVXY, daily

Summary

*first, an update on the VIX, which saw a net weekly decline of -29.0%

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As for TVIX and UVXY, both have lost around 45% since last Thursday, a mere six trading days ago.

Regardless of any bounce in the first half of next week, both TVIX and UVXY looks set to remain subdued..and decay lower into August.

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*I am long VIX from 12.92, seeking an exit next week, at least in the 14.50/75 zone, preferably the 15/16s next Tue/Wed.