With the market seeing some rather dynamic swings, it was a mixed week for the 2x lev' bullish VIX instruments of TVIX and UVXY, which saw net weekly declines of -1.6% and -2.1% respectively. Near term outlook offers renewed equity weakness - along with VIX 17s.
*first, an update on the weekly VIX
VIX looks set for a very powerful upward move into September. The 20s look a given, the only issue is arguably how high might a capitulation spike be? 25s look possible, the 30s look a tough challenge.. and even if hit.. will likely last mere hours.
As for TVIX and UVXY.. as almost always remains the case.. holding for more than a few days rarely works out well.