With the VIX soaring into the weekend, the 2x lev' bullish VIX instruments of TVIX and UXVY saw extremely powerful net weekly gains of 56.3% and 58.4% respectively. Further upside across Mon/Tue' looks probable, before equally severe cooling into year end.
*first, an update on the VIX, which saw an extreme net weekly gain of 64.7%.
As for TVIX/UVXY... the bearish multi-week run comes to an abrupt end.. with massive gains.
With equities breaking below the Nov' low of sp'2019, TVIX and UVXY both broke above their mid Nov' high.. as should be the case.. even with the underlying decay problem.
Best guess... VIX to climb/hold the mid/upper 20s.. .but then rapidly cooling into quad-opex.. and probably all the way into early 2016.