Jack Hershey uses the offset between the INDU and YM as a leading indicator for ES which he has labeled as stretch and squeeze depending on which side of neutral (fair value) it is. I've looked at this at different times and dismissed it but have changed my mind after looking at the illustration he posted in his journal. You can see that they have set up YM over INDU and have a histogram of the difference below. You can see very clearly that there is a definite correlation at the turning points. I would like to set this up on my computer but do not want to get Tradestation. I am thinking that this could be done with Ensign or possibly Excel. Any chance someone could do this and share it with us programming illiterates.