$SPX Log scale weekly chart reveals broken ascending wedge

SP:SPX   S&P 500 Index
44 0 3
Right click on your chart, go to properties, tick the 'log scale' box under the 'scales' category
On a normal weekly chart of the $SPX             you would miss this obvious trend line 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 wedges are bearish 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
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out