The S&P500 paused on AI valuation concerns and trade fearsUS 500CAPITALCOM:US500inkicho_exness The US equity rally, driven by optimism over AI momentum, Fed rate-cut expectations, and solid consumer data, lost steam after President Trump’s combative remarks toward China. Delta Air Lines beat 3Q estimates with profit up 4.1% YoY and EPS at 1.71 USD, while Costco’s (COST) Sep sales rose 8% YoY, underscoring resilient US consumption. However, Trump’s threat of steep tariff hikes triggered the S&P 500’s sharpest one-day drop in three months. US500 extended its sharp decline, briefly testing the support at 6530. The index broke below the ascending channel's lower bound, suggesting a potential shift toward bearish momentum. If US500 breaks below the support at 6530 again, the index may retreat toward the next support at 6420. Conversely, if US500 breaches above EMA21 and the resistance at 6700, the index may advance toward the psychological resistance at 6800.