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How to invest into next week amid debt fight: Pro

The stock market will likely take off on any sense that President Barack Obama and top Republican lawmakers are nearing a deal to end the partial government shutdown and to increase the $16.7 trillion debt ceiling, which is expected to be exhausted on Thursday.

(Read more: Obama, GOP work urgently to end fiscal deadlock)

"Even the slightest movement, over the weekend, into next week, of compromise and it looks like they're going to get something, then this market is setting up, you can actually feel it that it's getting ready to take off," said Kenny Polcari, a CNBC contributor and director of NYSE floor operations for O'Neil Securities.

On the other hand, Polcari told CNBC's Sue Herera that a lack of a deal doesn't necessarily mean the stock market would fall, but there will likely be some volatility either way. So he thinks investors should be careful and outlined how he would put money to work right now.

—By CNBC's Drew Sandholm. Follow him on Twitter @DrewSandholm

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