If (big if) we bounce tomorrow, then it could be a bounce off of support. If we don't bounce tomorrow, then I don't think we have a choice but to re-evaluate the thesis. Could be a fake-out to the downside and/or a reaction to the latest rally. Volume yesterday was quite low and the candle made a neutral doji. Volume today supported the sell-side and was closer to...
You could play this breakout or you could wait for a re-test of support before deciding to go long a swing or position trade on SPY or its holdings.