VIX has tested the trendline from 2008 recently, and currently is finding support around the 50 period moving average on the Weekly Chart. VIX has been trending up for 4 months, and a break above the trendline from 2008 can be explosive.
UVXY should be bottoming out shortly according to the meltup Cycle. UVXY should form a low soon, and then begin to rise slowly at first, and then meltup. Initial targets for UVXY to consider are around $160 with a target of possibly near $250 late this year.
UVXY meltup Cycle:
Symmetry suggests a large move is due for VIX. A break above the trendline from 2008 can be explosive.