Can SPY Hold A Higher Low (than 106.47)

SPY is set to gap up and open at 107.15. SPY has a good chance of dropping to 106.66 to fill this gap. If SPY does drop to 106.66 to fill the gap but holds above 106.47, I would consider it very bullish price action. However if SPY breaks the 106.47 Friday low then we have to see if SPY can hold support at 105.8 or higher. As I have mentioned before: SPY does not trade below 106 for very long and I have been very successful making long trades on SPY when it has dipped below 106 indicating that there is strong support at those price levels. The last scenario is for SPY to not close the gap and continue to rally. Resistance levels are shown, the major resistance level for SPY to overcome is trendline A.