I've observed DJ
STOXX 50 and "random walk" was the phrase that sprung to mind on an intraday basis although on a daily basis it trends nicely. Because the underlying stocks are such a wide variety, different factors can pull it one way or the other. On the positive side the volume is a lot higher than any US stock index future.
I've also traded the FTSE - mainly longer term swings and scalps off of UK economic data.