TVIX, daily
UVXY, daily
Summary
First, keep in mind the daily VIX chart...
The VIX close in the upper 16s certainly qualifies as an important jump higher, but we're still to test the big 20 threshold. However, considering the bigger weekly equity charts, VIX in the 20s does look viable within the next few days.
The really big question is what happens over the weekend in the middle east..and how the market will cope with it.
The 2012 VIX high was 27. Are we on the edge of a VIX explosion into the 30s? However, I have to think the 30s look very improbable in the current multi-week down cycle.
So long as the main market can hold above the June low of sp'1560, the VIX will likely get stuck in the low 20s.
TVIX/UVXY
Certainly, today's gains are the best since late June. A few more days higher would really compound the current gains..and if the VIX can get into the low 20s..then we could be looking at another 30/40% higher by the Friday close.
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*As ever though, mid/long term holds for the leveraged instruments is never a good thing, due to the statistical decay factor.
