Update to Self Guidance post on 27 Oct 2022

$SPDR S&P 500 ETF (SPY.US)$
- SPY has sustained well despite the terrible earnings week of GOOG, META and AMZN
- Supported well at 380, thanks again to the "FED pivot heads-up" by Mary Daly before earnings
- Last night PCE reinforced the rally and brought it to a pivotal 390
- This is also the level before the big drop due to hawkish powell in the Sept FOMC (ironic isn't it?)

What's possible ahead?
- Possible consolidation early next week ahead of FOMC with pullback to 388 or 386
- Only way to break 390 is for a Powell rally
- Then based on the weak bear structure coming down, it could have various key squeezes up to 410/420
- Then it will be where the bears are super strong and what could happen after, could be scary.