$SPX Log scale weekly chart reveals broken ascending wedge
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
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
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