TVIX Near Term Forecast

As the broad market rebounds volatility starts to decline. TVIX is one of the most popular ETF to trade volatility. VXX, the 1x for volatility, is the basic ETF to trade volatility. TVIX, on the other hand is a 2x ETF for volatility, meaning that TVIX moves 1% when VXX, or volatility, moves 1%. This rebound will end once SPY reached the upper bound of daily Bollinger Band. My TVIX forecast is that it will reach the lower bound of daily Bollinger band then rebound or even reversal to uptrend.