I find it useful to understand the past. It puts things in context. Granted, past performance is not indicative of future returns, but the market is not a random walk either. Therefore, on a daily basis I generally expect the market to perform within the historical ranges until news, fear, or greed dictates otherwise.
For any given trading day there are a few high level facts that help guide expectations.
How does the month perform historically, and in comparison to other months?
How does this day of the month perform historically and in comparison to other days of the month?
How does this day of the week perform historically and in comparison to other days of the week?
What has the combination of all of these yielded in the past?
It is my personal opinion that these facts are becoming ever more important as increasing amounts of activity is driven by computer algos that are fed with this exact type of information amongst other things.
Below is a brief summary to guide your trading day -
March vs other Months -
March since 1950 -
The 4th vs other days of the month -
Running Totals of the 4th day of the month-
All combined.. Happy Trading!! March 4th looks more interesting than the 3rd.
Disclosure: Disclosure: No positon in SPY at time of writing