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After Rally, ‘Something Has to Give’: Pro

Amid new all-time closing highs in the S&P 500 and Dow Jones Industrial Average, a pullback could be due soon, Dan Nathan of RiskReversal.com said Tuesday.

"To me, something has to give at some point very soon," he said. "I'm not calling a top here, but we don't just go up without pullbacks."

The Dow Jones Industrial Average finished at a new all-time high of 15,387.52, while the S&P 500 also closed at a new all-time high of 1,669.16.

On CNBC's "Fast Money," Nathan also noted that the stock market hasn't seen three consecutive days of declines since December.

"It's getting a little overdone near-term," he added.

Nathan also noted that China could be worse off in the second half of the year, from which the United States might not to be able to decouple. He also noted that the VIX has halted its decline.

Goldman Sachs issued new targets for the S&P 500 of 1,900 for 2014 and 2,100 for 2015.

(Read More: Goldman Sachs Upgrades S&P 500 Target)

Responding to those targets, Tim Seymour of EmergingMoney.com argued that it wasn't that bold of a call.

(Read More: What to Make of Goldman's Bullish Call)

"It's not that difficult to make a call at 1,900 when you look at 10 years ago, we were at 1,600," he said. "The rest of the world is actually growing slower than we are, and capital's not as free into these places as it used to be."

Karen Finerman of Metropolitan Capital Advisors said that talk of an overheated market was premature.

"When you think of a bubble, 1999 was really it. I don't think this market represents that kind of frothiness," she said. "Maybe the pendulum is starting to swing – maybe – a little bit past fair value, but nothing close to that."

Trader disclosure: On May 21, 2013, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Karen Finerman is long AAPL; Karen Finerman is long BAC; Karen Finerman is long C; Karen Finerman is long JPM; Karen Finerman is long TGT; Karen Finerman is long GOOG; Karen Finerman is long NM; Karen Finerman is short SPY; Karen Finerman is short MDY; Karen Finerman is long MDY Puts; Steve Grasso is long ASTM; Steve Grasso is long BA; Steve Grasso is long BAC; Steve Grasso is long GDX; Steve Grasso is long GOOG; Steve Grasso is long LNG; Steve Grasso is long MHY; Steve Grasso is long MJNA; Steve Grasso is long NVIV; Steve Grasso is long PFE; Steve Grasso is long QCOM; Steve Grasso is long S; Dan Nathan is long VIX JUNE 16/20 CALL SPREAD; Dan Nathan is long IBM JUNE 205/195/185 PUT FLY; Dan Nathan is long NTAP JULY 35/40/45 CALL FLY; Dan Nathan is long CAT JULY 85/80 PUT SPREAD; Tim Seymour is long AAPL; Tim Seymour is long BAC; Tim Seymour is long WMT; Tim Seymour is long SBUX; Tim Seymour is long MSFT; Tim Seymour is long NOK.

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