Debt ceiling sorted; What can happen next?

SPY - Keep an eye on QQQ! It will influence how SPY goes!
- Reached ~421 on Friday rally
- 2nd breakout above 416 in recent weeks
- Area of balance remains between 405 to 416
- False breakouts and back into 405/416 range will just mean a head fake
- 30mins chart see a possible inverse basing/cup
- Debt ceiling deal done (just) may give a last push rally on Tuesday?
- But "might" pullback after that
- But as usual, do not predict, watch price action. ==> So any pullbacks to 416 will be my key watch
My watch
- 416 as a support level for pullbacks - Can still be a bull flag formation
- Breaking back into 405/416 range will then watch for 414, 409, 405 levels
- Mainly 409 as that is the full formation of the inverse cup
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NASDAQ - Key one to watch as it will bring the market further up or down
- Bull flag plays has been consistent and is exactly at the peak (348/349)
- Big gap between 331 and 338
- Pullbacks will be 332 (gap fill) and down to 321 previous breakout)
Why this is important?
- Tech has been driving this market rally so far
- Any major pullback will mean an overall market correction
- This will also mean S&P500 will come down
My Watch
- Debt ceiling deal reached will bring some cheer (but rally unlikely to sustain)
- Buy on rumours and sell on news applies

Reminder - Observe, React, DO NOT predict!