• US 500 stock index loses steam before reaching all-time high
• Technical signals show falling buying appetite; support at 5,850

The US 500 stock index is shaky at the top of its uptrend. It recently lost some momentum, closing below October’s support trendline on the four-hour chart. This might lead to increased selling interest if the price also dips below the 20-period simple moving average (SMA) at 5,850.

With technical indicators pointing to weakening buying enthusiasm, the 50-period SMA at 5,824 could come into play. If we see further losses, the index might find some support around the psychological level of 5,800, followed by the 100-period SMA at 5,773 and the 5,750 mark.

On the bright side, if buyers can push the price back above 5,865, we could see a spirited battle somewhere between 5,890 and 5,910. Investors may keep an eye out for a solid close above 5,950, which could pave the way towards the big milestone of 6,000.

In summary, the US 500 index might be taking a small breather from its record rally in the near term. A dip below 5,850 could be the trigger.