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​S&P 500 rally runs out of steam

​​S&P 500 rally runs out of steam​ ahead of weekend US-China trade talks with some investors taking money off the table beforehand.​

Chart analysis Source: Adobe images

Written by

Axel Rudolph

Axel Rudolph

Market Analyst

Publication date

​​​S&P 500 rally runs out of steam 

​The S&P 500's jump to a five-week high at 5,720, to just below the 200-day simple moving average (SMA) at 5,747, on trade deal hopes is expected to lose upside momentum ahead of this week's US-China trade talks. 

​A fall through Thursday's 5,636 low would push the 55-day SMA at 5,596 and Wednesday's low at 5,579 to the fore.​​ 

S&P 500 chart Source: TradingView

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