S&P 500 1% Opening Gaps Higher

Pre-market futures are indicating a higher open, and the S&P 500 tracking ETF is up about 1% in the pre-market.  As shown below, there have been 17 prior 1% gaps higher in SPY since the March lows.  The average change from the open to close on these days has been a gain of 0.55% with positive returns 65% of the time.  If stocks manage to open 1% higher, recent trends suggest that the market builds on those gains throughout the day.