(Corrects to remove reference to PHLX semiconductor index closing above 450 for first time since 2007)
NEW YORK, Feb 2 (Reuters) - The S&P 500 index ended lower on Wednesday, with charts suggesting the index's five-month rally was growing long in the tooth.
Based on the latest available data, the Dow Jones industrial average was up 2.27 points, or 0.02 percent, at 12,042.43. The Standard & Poor's 500 Index was down 3.58 points, or 0.27 percent, at 1,304.01. The Nasdaq Composite Index was down 1.03 points, or 0.04 percent, at 2,750.16.
The index is starting to look overbought again after touching 2-1/2-year highs Tuesday. A key measure of the rally's strength suggests stocks are vulnerable to a correction, analysts said.
The PHLX Semiconductor Index is running into resistance around 450. Chips are considered a leading indicator for the broader market. (Reporting by Caroline Valetkevitch)