It was a somewhat bullish week for the VIX, with a net weekly gain of 6.0% The 2x lev' bullish instruments of TVIX and UVXY saw net weekly gains of 1.6% and 2.0% respectively. Near term outlook offers further equity weakness, and that should equate to VIX in the 40/45 zone.. if sp'1820.
*first, an update on the VIX..
Little to add.
With the VIX recovering into the Friday close.. the door remains open to renewed VIX explosive upside. The cyclical setup for Monday strongly favours the equity bears, first target is the VIX 30 threshold.
*I remain long-VIX from the 23.40s.