As swing trader, these levels are golden opportunities to buy. As you can see, every time we approach this support, the market bounces back. Remember, the best time to buy is when most people are bearish .
As a fellow swing trader I think your spot on. i think $SPY $QQQ and etc... should get an oversold bounce up soon and maybe even tomorrow. For the very short term I will be looking for an opportunity to purchase $QQQ and $SPY calls, however, I am thinking that a 10% correction is in the cards for the market.
Wall Street loves to condition people into this support buy syndrome and has done it well in 2013. Spy will bust under 150 ma and leave you crying in your coffee, I expect a small bounce then a sell-off that will make your eyes water.