NEW YORK (TheStreet) -- Despite a very volatile week of trading, the S&P 500 finished flat for the week. Chinese stocks bounced for a second day, while a Greek debt deal appears to be in the cards for this weekend, which allowed U.S. stocks to rally on Friday.
European equities were also on the rise, Josh Brown, CEO and co-founder of Ritholtz Wealth Management, said on CNBC's "Fast Money" TV show. The DAX and CAC (German and French stock indices) are both on the verge of breaking out. While Greece is important, China seems more important at this point, he said.
Investors should stay long Deutsche Bank (DB - Get Report), said Guy Adami, managing director of stockmonster.com. The S&P 500 and iShares Russell 2000 ETF (IWM - Get Report) continue to find support at key levels and both look likely to trade higher.
If European stocks begin to pull back next week, it would be very bearish for those markets, added Dan Nathan, co-founder and editor of riskreversal.com. As for Chinese stocks, if the Shanghai Composite breaks below 3,400, the S&P 500 will likely go lower too, perhaps down to 2,000.
Nathan doesn't think the euro will rally too much given that the European Central Bank is trying to keep downward pressure on the currency.
Brian Kelly, founder of Brian Kelly Capital, disagreed, saying the euro looks likely to trade higher, which should lead U.S. stocks higher. However, if and when the U.S. dollar eventually begins to rally, coupled with the increased production of oil, West Texas Intermediate can "easily go well below $40," he said.
Lower oil prices also benefit airline stocks. Adami's top pick is Jet Blue Airways (JBLU - Get Report), as is Brown's top pick. Brown added that if the stock can break out over $21, it could quickly make a run into the mid-$20s.
Nathan doesn't like the airline industry due to its international exposure. He's avoided all stocks in the group.
For their final trades, Nathan is selling Procter & Gamble (PG - Get Report) and Brown is a buyer of CME Group (CME - Get Report). Kelly said to buy Trina Solar Limited (TSL) and Adami is buying JetBlue Airways.