Last 14 out of 16 first day of the month have been positive. Last 7 first days of the month have been positive. Will tomorrow be an up day on the S&P 500? What say you....poll.
The historical stats point to an up day on first day of the month, I went long quite a bit during the last dip and on MOC hoping for that - hopefully for the better !
A carbon copy of 2003-07. Like clockwork every 1st of month was positive...a high percentage of OpEx's were as well. OTOH, even during the raging bull market of 1999-2000, there wasn't the same level of predictability with regards to 1st days of the month. It's just an auto-pilot type of market.
The buying the last 30 minutes were people hopping on the train before it leaves the station tomorrow..... Oh I meant to say tonight when the futures will be soaring while everyone is sound asleep and during the opening when they gap up the SPX by 8-12 points!!!
That's a different question : would it be better to sell premarket or intraday tomorrow ? I've checked IWM data on 1st day of the month for the last few years, and whereas there's a huge majority of opening prices higher than the previous closing price, it's not as clearcut between the closing price of the first day of the month and it's closing price.
Futures already showing an up day for tomorrow and its still "TODAY" They dont wait for tomorrow they start pushing them up NOW!!!!! A few more minutes to jump into anything before the aftermarket hours trading closes!!! S&P FUT 1328.60 2.50 +0.19% DOW FUT 12228.00 14.00 +0.11% NAS FUT 2355.50 4.75 +0.20%