That's one heck of a 5 minute candle there   

Matt, it would appear that your aforementioned 20 day MA provided a little bit of resistance   

Reaching for that fib Matt mentioned yesterday.

DJIA 10 SECOND CHART 900 point IHS   

Didn't think I'd ever witness this!

peterjennings71 - my apologies for the delay in replying.

IG Index is certainly a good choice. I live in Germany and use CMC Markets as a CFD provider. CFDs allow me to go long or short all the major indices, currency pairs, commoditiesand literally thousands of company names all over the world (although a CFD is not really the best way to trade individual shares IMO).

Spread betting is tax-free in the UK and Ireland only if you trade either tiny volumes and/or very few trades per year. As soon as the powers that be decide that you make a significant portion of your income from trading you will have to pay tax, as far as I know.

ghunt's point about playing with 100 x leverage is extremely important: money management is absolutely crucial with this kind of leverage, so you must over-equitise, or you may well wipe out your entire account in the blink of an eye. 

Best regards, and trade well!

Why don't you open a spread-betting account and trade the index (SPX or VIX, as you please) with a geared instrument?

Nice trading Kobie - thanks for your posts of setups like these!

Kobie, jou doring!!!   

Broke out of channel, almost reached the 50% fib, then perfect retest of channel top. Now we wait and see how much further we go... to the 61,8% fib, further?

... but it just doesn't seem to want to stay below that 2566 support level! 

Or alternatively, we simply had a perfect retest of the rising wedge today, and the market goes down from here.

A 13 point increase in the SPX would bring us right into the 2594 pivot range.

NICE 

Now, a question to all who care to give an opinion: can one see this as an IHS? In which case it would measure approx. 100 points in the DJIA, or 13 in the SPX...

zzzzzzzzzzzzzzz - DJIA has been in a roughly 20 point range for 3 hours now. Hope we break out of this mess soon!

Thanks.

Steve - on Coffee futures I am very nicely up on my trade from yesterday. I already took off 30% when price hit the 20 day MA. Where would you suggest a prudent stop to be ... just below the 20 DMA? I reckon I should in any case take off another 20% or so before the close today.

Nice bounce in Coffee Futures - excellent call, mla127!!!

piercing the 130 SMA (= 20 day SMA).

{chart courtesy of BPT of course   }

ye Gods, this wedging upwards grind is just relentless... must break at some point, but when???

lots of divergences; however, this is certainly a trend day (DOW much stronger than SPX and RUT), so perhaps a MACD recycle towards zero, and then another pop up late in the trading day? This might enable MACD to cross over again in order to provide proper divergence also on this indicator. Thoughts...?