'Fast Money' Recap: Next Week's Playbook

The markets ended up mixed on Friday, as the Dow Jones Industrial Average pushed into the black for the year.

The Dow was up 28.34, or .32%, to 8,799.26, while the S&P 500 rose 1.32, or 0.14%, to 946.21. The Nasdaq fell 3.57, or 0.19%, to 1,858.80.

Guy Adami expressed his reservations about the market's direction on CNBC's "Fast Money" TV show. He sees the market topping and heading lower next week.

"I know everyone wants to be bullish here, but the market's taking a breather. It's heading down," he said. "People are complacent. They think the market will only go higher, and that's going to lead to trouble."

Joe Terranova said the market, though resilient, has lost the energy, resource and commodity trade. Lacking leadership, the market is probably going to roll over heading into the Federal Reserve meeting on June 23, he said.

He also said the Fed could decide expand its balance sheet at the meeting, a move that would be bearish on the dollar.

On the other side of the coin, Pete Najarian thinks the market could go higher, with the impetus coming from the sidelines as people move money into the markets.

Melissa Lee, the moderator of the show, asked Steve Grasso what he expects will impact next week's market. Grasso said the housing starts, CPI and PPI reports will provide a better picture on where inflation is heading. He said his clients have been covering their short positions, a situation that leads him to believe the market is moving higher.