The S&P 500 held and bounced on a key level, ahead of the Federal Open Market Committee's two-day meeting, which suggests the market is headed higher, StockMonster's Guy Adami said Tuesday.
"I'm of the belief – and we've said it for a while – that the market doesn't give you this long an opportunity to sell the highs," he said. "Technically, it did what it needed to do today. I thought 1,681 was a big level, given the high we put in earlier today. It held; it bounced."
On CNBC's "Fast Money," Adami said that he saw a clear direction in the market.
"Obviously not a big day in terms of where the market went, but I think an important day in the fact that the market just doesn't want to give up any ground here," he said. "It's got to go higher. That's my view. Look, I could be dead-wrong and this thing could collapse."
Tim Seymour of EmergingMoney.com challenged the idea that the stock market was already pricing in the Federal Reserve's tapering of asset purchases.
"You're telling me that mortgage rates are going to be when the Fed pulls out? I don't think so," he said.