First Day of Month

We are used to the big up day in the first day of the month like the rising of the sun.  Well today, the sun rose in the west!  We have a down day on the first day of the month.  The pattern on a day like today after 2 strong up days is usually a trend straight down for the whole day.  There is strong support around 1306 so it will be tough for the bears to crack, but I've learned over the years never to give too much credit to very short term support and resistance levels.