The Russell 2000 (RUT) has been lagging other markets in 2014 after a great 2013, but played some catch up last week rising 2.71%. The result of the strong week is RUT now having positive performance for 2014. As would be expected RVX came under pressure and finished out the week at 17.09 which is low, but nowhere near the lowest closing level on record of 13.65 which occurred on March 14, 2013.
The NASDAQ-100 was up over 1% last week and VXN dropped as well. Like RVX, VXN is low, but no anywhere near the lowest close which occurred March 15, 2013 (the day after the record low for RVX) when VXN finished the day at 12.03. By the way on both March 14 and March 15 last year VIX closed at 11.30 which until yesterday was the post 2008 record low.
The price curves for both RVX and VXN shifted down and got a little steeper which is a textbook move as their underlying markets moved higher.