Updated SPY Weekly Chart

I just noticed that the SPY chart I posted earlier was not formatted properly and it cut off the right hand portion of the map.

Below you can see that the SPY is now trading into the 50 week moving average. Since this is a weekly chart and we are in the middle of the week, it can pierce deeply but you can't make an assessment of a break until next week and/or the week after. However, my bias would be towards the MA holding in the short term simply because we should get lighter volume next week and the trendline is still pretty strong.