SPX- short trade (bullish harmonic shark)

Dec 17, 2022

3750 is the potential target on the short side based on the harmonic shark pattern and it also coincides with the fib level (0.5-0.618 zone), making it even more lucrative to initiate longs in anticipation of a reversal from the said zone. However, given the fact that the recent fall had no retracement whatsoever, a possibility of a retracement at the current levels cannot be ruled out.