The US Home Construction ETF, $ITB, dropped in price after completing a Day chart bearish Shark, which is a harmonic pattern. The left chart is the Day chart, the right an intraday perspective, in this case an Hour chart.
When the Day Shark completed at 27.81, there was a stall. Inside that stall, the Hour chart formed a harmonic pattern as shown in green, it's completion target was at green zone around 26.40. Price needed to go down to that target for its completion, this helped jump start the Day's bearish pattern begin its retracement.
As long as price holds above the Hour chart's green zone, the ideal minimum upside target is 26.97 and the ideal target is 28.10. The first target of 26.97 is an important resistance test and if holds implies lower targets are the higher probability, ideally 24.86 from the Day chart and scaling points at 26.09 and 25.62. But if the ideal target of 28.10 is reached, meaning initially a hold above 26.97, then that will help price return to the Shark PRZ.
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