With equities soaring into the weekend, the VIX was crushed, and that sure didn't help the 2x lev' bullish VIX instruments of TVIX and UVXY, which saw net weekly declines of -8.4% and -8.9% respectively. Near term outlook offers further equity upside, and that will equate to VIX losing the teens.
*first, an update on the VIX, which saw a net weekly decline of -2.0%.
As for TVIX and UVXY, it was all going so well into the Thursday close.. but with an effective equity hyper-ramp.. the VIX was crushed into the weekend.
VIX looks set to remain broadly subdued into year end. Sustained action above the 20 threshold looks out of range.
*I have ZERO interest in being long the VIX until spring 2016 at the earliest.