TVIX - begins the week on a downer

With the indexes battling back upward into the afternoon, the VIX slipped -4%, and pushed TVIX back to the downside, closing -3.4% @ $3.15 Near term trend looks like the $3.05/2.90s will be hit early Tuesday.  Mid-term (equity bear) outlook would equate to TVIX in the 5/6s.


TVIX, daily

Summary

First, note the daily VIX chart

Near term VIX trend is clearly in a cool-off phase after last weeks multiple spikes into the 17/18s.

TVIX is naturally slipping lower, and a further fall of 3-5% seems a given, if sp' can break into the low 1570s, with VIX in the high 13s.

As ever....even if TVIX/VIX soar higher in the latter part of this week, VIX bulls should usually have a default policy of cashing out on any significant VIX spike. The bounce last Tuesday was another reminder that the VIX sure can hyper-spike, but almost always..is smacked lower the very next day.