TVIX, UVXY - climbing on huge volume

With volatility coming back to the market for the first time since last October, the 2x bullish VIX nstruments are seeing huge trading volume. TVIX and UVXY settled with daily gains of 16.8% and 18.1% respectively.


TVIX, daily

UVXY, daily

Summary

*first, an important update on the weekly VIX chart

It is arguably most important to keep in mind that the 2013 VIX high was 21.91. A daily close in the 22s or higher this week will be a very important warning of much higher levels..in the months ahead.

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As for TVIX/UVXY..and even the non-leveraged VXX, the higher VIX is going to further ramp these instruments in the days ahead.

Best guess..sp'1710/1690 within the next 3-7 trading days. That will probably equate to VIX 25..maybe 27.

From there...VIX will likely get re-crushed to the mid teens again..before the 'real fun' begins.