US Stocks On Backfoot Amid Overbought Levels, S&P 500 Eyes Break Above 5K: Analyst Sees 'Dramatically Higher' Market Surge From Rally This Year - Invesco QQQ Trust, Series 1 (NASDAQ:QQQ), SPDR S&P 500 (ARCA:SPY)
Focus now shifts to the jobless claims report for labor market insights, with market overbought levels prompting a defensive stance.