The First Big Test for the Superhero Bounce

The SPY daily chart, below, shows price checking back up to the 20-day moving average (orange line). I view this circumstance as the first big test on the bounce-back rally. If we are to see a rollover, then this is where sellers would likely present themselves to avoid another V-shape rally to fresh highs. Elsewhere, GRPN is impressive today, going for a long base bottom breakout. Watch it over $7.87 today.