SPY shorts

The chart displays the S&P 500 E-mini Futures (4-hour timeframe) with technical analysis indicators. Key features include:

Current Price: 5,628.25 (SELL) and 5,629.25 (BUY).
Recent Movement: The price recently bounced from a low and is projected to reach 5,676.00 by March 17, 2025, before potentially dropping to 5,392.50 by March 24, 2025, reflecting a decline of -283.50 points (-4.99%) in 7 days.
Fibonacci Levels:
0.5 retracement levels at 5,836.25 and 5,641.75.
Extension levels indicate potential further declines below 5,352.00 and 5,253.75.
Pivot Points: Marked at multiple levels (e.g., 5,935.50 and 6,166.50) for resistance and support.
Volume: 410.25K with a daily gain of +112.50 points (+2.04%).
Projection: The blue arrow suggests a bearish outlook after a short-term rise, with a significant price drop expected.
This chart is likely part of a trading strategy based on Fibonacci retracements, pivots, and projected price movements.