bring back permabear, page-13

good luck!

Its funny that a lot of traders use japan as a lead for xjo, but the stats say that japan has a correlation with spx of less that .5, so its basically only very loosely connected, whereas xjo correlation with spx is much higher, I think about .75 or so. So thats probably part of the reason xjo tends to make the big moves at night, when our connection with spx comes home to roost. Maybe we also have a lot of japanese money trading our market, which would help explain the intrasession correlation with japan (some/most of the time).