With equities having floored on Tuesday at sp'1972, the VIX is back in cooling mode, already back in the mid teens. The 2x lev' bullish VIX instruments of TVIX and UVXY saw net weekly declines of -23.8% and -23.7% respectively. Outlook into mid/late January is for consistent decay... to break new lows.
*first, an update on the VIX, which declined by a significant -21.8% across the week.
There is not much to add.
With 'real VIX' having maxed out in the 23s on Tuesday afternoon, the bullish VIX instruments are already massively lower, and look set to break the cycle lows of two weeks ago.
*I have ZERO interest in being long the VIX.... until the broader equity market forms a grand multi-year top, and that looks to be a good year or two away.