It's the First of the Month

Below we highlight the S&P 500's performance on the first day of the month and for the rest of the month during the current bear market that began back in October 2007.  As shown, the average change on the first day of the month has been -0.53%.  Seven of the last eight first days have seen declines, and based on the futures this morning, the market is starting out on a similar track.