"SOX - I went back, for a 3rd time, and redid the multi-year chart, this time magnifying it so I could get the diagonal line across the bottoms, perfect. Still, over 8 years, even the line thickness can make it a point or 2 off. But this line says the SOX can't break 250. As it closed at 252.44, there is almost no downside risk there."
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Sir Realist....
As a realist myself, I have had enough experience in the markets to know better than to make a statement like "But this line says the SOX can't break 250. As it closed at 252.44, there is almost no downside risk there."
All T/A can do is provide some probabilities and I use it for timing in the hope that it will give me an edge in trading the market - that's all it can do. It is not a set of immutable laws that cannot be violated, and if you try to view it as such it will not only cost you money, it will drive you nuts.
Your interpretation may end up being correct and the SOX may never at any time in the future trade below 250, but it will not be because of that trendline on the chart. For one thing, I think you are focusing too much on one line of support on the chart when there are many other things that say equally strongly that the SOX is not only going to bust 250, but do so handily. The SOX is a broken index that is in freefall, and it can go lower.
Personally, I agree with the latter view, and think the SOX will go a good deal lower before this bear is over with, and I think it will bust 250 soon, perhaps tomorrow. But I would never say with certainty that it will or will not hold the 250 level - only God knows that. All I can say is that looking at the whole picture, I expect it to break 250.
Not trying to be critical, just trying to help.
mlsoft
AI
Market Data 
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