The market sold off hard in pre-market session with more bad news from Europe, which led to the huge gap down on the SPY. Furthermore right after the opening bell, the SPY touched 104.38, which was lower than last February lows of 104.60The new lows and support around 105 triggered several buy signals and short covering, which started working right away towards filling the daily gap, which by the way was accomplished by the end of the day, closing at 107.81 and created a nice hammer on the daily chart.
Resistance is at the 200 day moving average around 110.50 and support at today lows of 104.38
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