With the VIX breaking into the 20s for the first time since March 1st, the 2x lev' bullish VIX instruments continued to climb. Despite some slight cooling into the weekend, TVIX and UXVY saw net weekly gains of 14.8% and 15.1% respectively. Near term outlook offers considerably higher volatility, with the BREXIT vote, and a wide array of other threatening issues.
*first, an update on the VIX, which saw a net weekly gain of 14.0%
As for TVIX/UVXY, a second week of gains, and as volatility itself increases, the day to day.. and intraday swings are also increasing.
Price structure on the daily charts could be argued is a bull flag.
For TVIX, the $4s look a pretty easy target... 5s are within range. If the sp' breaks under the critical low of 2025, a decline to 1950/00 would likely see 6/7s.