NEW YORK (TheStreet) -- Markets closed lower after the S&P 500 and Dow Jones Industrial Average reached new highs earlier in the session.
On CNBC's "Fast Money" TV show, Guy Adami, managing director of stockmonster.com, said the S&P 500 seems likely to trade down to 1,760 this week.
Karen Finerman, president of Metropolitan Capital Advisors, said she is not trying to time the market and therefore is staying long equities.
Josh Brown, a financial adviser at Ritholtz Wealth Management, said the global participation in stocks is helping U.S. equities push higher. He added that a market top usually comes near 17 to 18 times earnings. Presently, U.S. equities are trading at 15.5 times earnings.
Steve Grasso of Stuart Frankel & Company said $116 is the next line of support for Tesla Motors (TSLA), following by $109.
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