Per my analysis, SPY has the MOST fib confluence around 950 and time cluster is around 6/21. Does that mean we will reach 950 around that time and that is when we should even consider going long? Not really. It just means that lot of fibonacci numbers get crowded around that area and time. And hence there is a lot of weight and importance given to it.
We may and will definitely bounce back in between. However, i do not see any solid evidence of bouncing before that area.
This bodes well with my earlier call of 920 on SPX. Along with that XLF has major support around 13 (lower TL), which too works out well with our 950 SPX call.
So, as you can see, there are too many forces that are coming together and aligning around the 950 area to be ignored. Whether we get it or not is a different matter altogether. But something to definitely bear in mind.
Good Luck all.
