SPY Short-term Oversold at Gap Support

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There is a large and yet unfilled gap up on SPY just below current levels. Given that the RSI(5) is oversold and we had some readings yesterdays suggestive of bottoming, I think it is most likely that we move up from these levels. I expect the gap to fill first. It could be used as a limit buy order with a stop below the April low. I may post a trade on it if prices fill the gap and then reverse higher.

Also there is an unfilled gap down from Monday which should attract prices soon.

Based on simple logic, the upward move was stronger at 9 days up, and at 16 days we have yet to retrace that move. This suggests the trend is still up and unless the April lows are broken, the high should be exceeded at least slightly.