From the Super Mario Wiki
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Shadow Ball is a Ghost-type move in the Pokémon series, and Mewtwo's neutral special move in Super Smash Bros. Melee and Super Smash Bros. for Nintendo 3DS / Wii U. When used, Mewtwo stands in place and charges up a ball of dark energy; the charging deals electric damage in Super Smash Bros. Melee, but does not damage at all in Super Smash Bros. for Nintendo 3DS. Unlike other auto-charging moves, Mewtwo continues to charge even when the move is fully charged; it can only be stopped by firing, shielding, or tilting the control stick to automatically roll. Charging the move allows it to travel farther and deal greater damage and knockback. When fired, the ball travels forward in a waving motion. The move also has a recoil effect when fired which is greater when fired in the air, pushing Mewtwo back depending on how much the move was charged before firing.
Mewtwo's forward throw also involves him firing Shadow Balls in rapid succession at opponents.