In stock market forums like Finance Manila's Trader's Lounge, emotions run high depending on how the market moves. One driver of sentiment is the performance of the US markets the previous night, specifically the DOW. Although I've done some study of the correlation of the DOW with the P6 and found that there is a positive correlation between the two in general:
(see more of this study here)
However, questions were posed on the forum of whether traders were really that sensitive to the DOW. Furthermore, was there a bias to traders in their sensitivity, or were people only looking for an UP DOW to satisfy their own innate bullishness.
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