Still Headed for 106.8

SPY is set to gap down and open at 107.9. I expect SPY to continue to 107.1 and fill the gap there and further drop to support at 106.8. Following that I expect a rally possibly as high as 109.3 to fill the gap there. I know it's tempting to try to jump in short or long right now but honestly I am having a hard time trading this pullback because of all big overnight futures moves leading to gaps all over the place. I don't like holding risky positions overnight and I don't trade futures much so I'm more inclined to wait until a nice retrace to begin shorting or to wait until SPY finds decent support before going long.

As I have mentioned before, SPY has a lot of support below 106 and readily rallies above that level. So if SPY does fall below 106 then I will begin opening long positions.