TVIX, UVXY - a third week of gains

With the BREXIT shocking world capital markets, equities saw severe weakness, with the VIX soaring into the weekend. The 2x lev' bullish instruments of TVIX and UVXY managed a third consecutive net weekly gain, higher by 6.8% and 7.4% respectively. Near term outlook threatens VIX 30s.


TVIX, daily

UVXY, daily

Summary

*first, an update on the VIX, which saw a powerful net weekly gain of 32.7%

In the near term, the VIX 28/32 zone looks a relatively easy target. If sp'1950/25, then VIX 35/45.
--

As for TVIX and UVXY, the net weekly gains are not exactly inspiring, relative to the gain in the VIX.

However, Friday did show that TVIX/UVXY do have their moments of glory. If would seem another 50/60% upside is viable next week... if the main market declines by at least a further 4%.

--
*I am long VIX, via option calls, and hold across the weekend, seeking my next exit in the 30s.