2% Gaps Up From 20-day Lows

With SPY looking to gap up over 2.5% this morning below is a quick look at all other instances since 2003 when SPY gapped up over 2% immediately following a 20-day low.

Low number of instances, but the suggestion is obvious.  I would note, though that although they all finished higher, they also saw some substantial pullbacks from the opening price.