TVIX, UVXY - powerful net weekly gains

With the VIX seeing a net weekly gain of 20.5% @ 16.89, the 2x bullish lev' instruments of TVIX and UVXY saw powerful gains of 27.9% and 26.8% respectively. Near term outlook offers further VIX upside, with price structure, being a large multi-day bull flag.


TVIX, daily

UVXY, daily

Summary

*first, an update on the VIX weekly

--

As for TVIX/UVXY, a huge Monday gain... a few days of chop.. with renewed strength into the early weekly close.

Price structure is a bull flag, and regardless of the Greek nonsense, it does bode strongly in favour of further VIX upside next Monday.. along with sp'2050s.. if not much lower to the giant 2K threshold.

--
*I currently have no open VIX trades, but will be seeking to be broadly LONG VIX from mid August into early October. There looks to be a clear window for a significant market correction of 8-12%.