Typically, when price action breaks out of a the moves are very powerful.
This brings us to exhibit A on the weekly chart. A decisive breakout occurred last week and now this week currently looks to be attempting to confirm a full body candle close with a confirmed backtest of the upper channel support just for good measure. And if it holds, SPY could run up in price double digits of percentages to the nearest fib extension at 483.79 approximately.
The second half of the year might be a big one for equities overall, and the technicals (at least short to medium term) seem to be reflecting that.