Trade Guideline For Monday (Nasdaq NQ)

With a possible end to the debt ceiling charade in Washington and a possible agreement on the official increase in the debt ceiling limit, the stage is set for the Fed to push the stock market up, just to show the market that the agreement is a good thing.

Whether or not the Fed can push the market up into breakout territory only time will tell. Key breakout level in NQ is still around 2400. Below 2400 implies NQ is still inside its large trading zone between 2400 to 2200.

Key Support/Resistance for Monday is 2360.

• Bullish above 2360, targeting 2385, then 2400
• Bearish below 2360, targeting 2340,, then 2300.