"Tomorrow marks the start of a new month, and the big question once again for traders is will the recent trend of rallies on the first trading day of the month remain in place? Since the start of 2010, the S&P 500 has finished the first trading day of the month higher in twelve out of fourteen months (86%). Additionally, the S&P 500 has risen more than one percent on the day nine out of fourteen times (64%). . . .
The first trading day of the month has had such a large impact on the equity market recently that if it wasn't for that day, instead of being up 18.3% since the start of 2010, the S&P 500 would only be up 2.3%!