With US equities seeing very significant net weekly gains, the VIX was naturally in cooling mode. The 2x lev' bullish instruments of TVIX and UVXY, declined by -20.9% and -21.0% respectively. Near term outlook is for further VIX cooling, at least to the 19/18s.
*first an update on the VIX, which saw a net weekly decline of -19.2%.
As for TVIX/UVXY, we've now seen a very significant decline from the volatility high of Feb' 11th.
In the case of TVIX, we've seen it fall from $13.58 to the low 9s.. a clear 30%.
*my broader outlook remains unchanged.. seeking the sp'1600s.. with market shaking bankruptcies in the oil/gas/mining sector. That should see the VIX at least briefly explode to the 40/50s.