US indices fell on Tuesday following a sharp recovery on Monday, but futures were trading higher on Wednesday. Concerns over sky-high valuations and a weakening economy could lead to bearish signs in the tech sector. Comments from Fed officials could shape rate cut expectations. Seasonality factors suggest a potential pullback for US stocks. The market is in need of fresh catalysts as optimism surrounding trade deals and earnings season wanes. Technical analysis indicates a positive trend but with signs of exhaustion. Resistance and support levels are crucial for the market outlook.

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Read more at Investing.com: S&P 500: Overbought Conditions, High Valuations Set to Test Bullish Resolve