Despite equity indexes only leaning 'marginally' higher, the 2x lev' bullish VIX instruments of TVIX and UVXY started the week with net declines of a very significant -8.6% and -6.0% respectively. Near term outlook threatens a further 8-12% lower before a key floor.
Suffice to add (from the weekend post), it was a particularly rough week for the VIX instruments.
For the moment, equity price action remains broadly bullish, probably to the sp'2070/80 zone, and that will likely equate to VIX 12s... if briefly.
'Rogue print' for TVIX.
Earlier in the morning I noticed a kooky 'rogue print' on TVIX. The print did occur.. although not all trading screens or charting software captured it.
It is somewhat interesting how we have a print in the $4.50s.
*AAPL had a similar spike print in early trading, but to the upside - in the $110.50s.