On a normal weekly chart of the $SPX you would miss this obvious support having been broken.
There is also a very clear uptrending resistance line on the log scale chart which helps to form an 'ascending wedge' pattern.
Again this formation is only apparent on a log scale chart and not a standard chart.
As we all know ascending are formations and are typically played with a break to the downside.
This could well be a technical foreshadowing of the 'very overdue' correction/crash
DYOR as always