TVIX - fractional gain..before a surge?

With the indexes seeing some late afternoon weakness, the VIX managed to close a touch positive, and the 2x bullish VIX instrument of TVIX closed +1 cent @ $2.87. With the VIX seemingly floored in the low 13s, TVIX still looks set to surge in the coming days.


TVIX, daily

Summary

First, a look at the daily VIX

VIX has conclusively broken outside of the down channel, and looks like it has a pretty secure floor in the low 13s. Daily VIX chart offers the 17s as early as tomorrow, that's a good 25% higher.

For TVIX, VIX 17s would probably equate to at least $3.40/50.
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Friday will be....interesting.