With a pullback today into the 2080 area on the SPX, and now the futures already 0.55% higher, I would expect a positive first trading day of the month. Although the market fell today, the SKEW also fell (a whole 10 points actually) down to 127. Traders were actually buying less puts than last week.
First days of the month are usually strong positive days. If the market opens flat or even down, this will be a great opportunity to get long even for a short term trade.
The RUT continues to be the leading index, probably playing catch up as it has lagged for so long. This is a bullish sign for the markets, also.
