Let's look at the chart.
First, SPY remains well below the moving averages, so I am not calling a bottom just yet. I don't ever make the mistake of being bullish when SPY is below the 50 DMA. That's always a signal there are more sellers than buyers. That said, yes - Friday was a powerful rally and since it happened after an important hold at 187, it does lead me to believe this next trading week will be positive.
A small warning - I wouldn't jump in with 'both feet' into this market. I would be cautious and only buy beaten up names that are trading at a discount to the market.
Have a good trading week.