TVIX, UVXY - powerful weekly gains

With equities seeing some wild swings... but broadly on the decline, the VIX continued to increase. The 2x lev' bullish instruments of TVIX and UVXY saw net weekly gains of 37.8% and 36.5% respectively.  Near term.. choppy... and a significant retrace.


TVIX, daily

UVXY, daily

Summary

*first, an update on the VIX, weekly

-

As for TVIX/UVXY, they - like the VIX, have probably peaked in the near term.

It would be very natural for the VIX to get ground back to the low teens into late October/early Nov, before the next major wave.

*my 'best bear case', remains sp'1800/1750.. somewhere in that area, which if correct, would at least equate to VIX 25/30 zone, a level we've not traded since summer 2012.. when the sp' hit a low of 1266.