TVIX, UVXY - surge...with the VIX

With the equity indexes seeing a major reversal..and the VIX exploding 34% higher, both the 2x bullish VIX instruments of TVIX and UVXY saw massive gains of 25.0 and 27.6% respectively. Volume was extremely high..and the closing action was very strong.


TVIX, daily

UVXY, daily

VIX, daily3

Summary

Suffice to say, the explosion in the VIX is the largest in a very long time, and it will be interesting to see just how far this ramp in volatility can continue.

I'm guessing though we'll get stuck around sp'1480.
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However, ANY break into the low 1470s opens up a flash-crashy move down to a very well known gap from early January of sp'1425.

That would probably equate to VIX 30/35.
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As ever..good short-shops are imperitive..if only to protect existing gains!