• Harmonic Pattern – Bearish Bat pattern
   
• Potential Reversal Zone (PRZ) – 2275
   
• S&P500 has formed bearish Bat pattern in the 4-hour chart. It should break above PRZ for further bullishness. The index is trading around 2267.70.
   
• On the lower side, 2264 (trend line joining 2243 and 2258) will be acting as immediate support and any break below targets 2258 (200- H MA)/2247 (61.8% retracement 2232 and 2271.90).Minor trend reversal only below 2232.
   
• The major resistance stands at 2277 and any violation above will take the index till 2306 (161.8% retracement of 2277 and 2232.40).
  
  It is good to sell on rallies around 2270 with SL around 2280 for the TP of  2247/2235.