[ant]

The volume indicator is plotted as a line indicator in the chart instead of a histogram.

Putting volatility aside, the stop would have been placed 1.5 points (an octant stop) below the upper bracket limit or 1313.25 on 9/12. If the market trades below the upper octant, the long trade would have been stopped out and a responsive trade could have been taken. A responsive trade would mean entering a short trade at 1313 with a target of the middle of the distribution or the next key reference point (monitoring internals of course). The octant stop is one approach covered in the Cisco-Futures course.