* Chevron deal lifts energy sector
* Priceline jumps after earnings
* Euro erases losses, commodities firm
* Indexes: S&P up 0.1 pct, Dow flat, Nasdaq up 0.3 pct
* For up-to-the-minute market news see [STXNEWS/US] (Updates to midmorning)
By Edward Krudy
NEW YORK, Nov 9 (Reuters) - U.S. stocks were little changed on Tuesday with few catalysts driving the market after five weeks of gains, but investors said an uptrend remained in place as M&A activity boosted energy and technology sectors.
The S&P 500 has run into resistance around the 1,228 level, which would retrace 61.8 percent of the decline between its highs in 2007 and the 12-year low in March 2009. This point, a Fibonacci retracement, is closely followed by technical chartists and often triggers buying or selling.
Mergers and acquisitions lifted shares but its effect was largely restricted to specific sectors.
Atlas Energy Inc
News of the deal helped lift the S&P energy index <.GSPE> 0.7 percent.
Yahoo Inc
Marc Pado, U.S. market strategist at Cantor Fitzgerald & Co in San Francisco, said stocks were pausing after a 17 percent rally in the S&P 500 over two months, adding that the outlook through the end of the year was robust.
"I think we'll go higher," he said, citing M&A activity as one driver. "When we get into the new year, I think we'll hear a lot more about that, mainly because companies have a ton of cash.
The Dow Jones industrial average <.DJI> dropped 4.81 points, or 0.04 percent, to 11,402.03. The Standard & Poor's 500 Index <.SPX> gained 0.83 points, or 0.07 percent, to 1,224.08. The Nasdaq Composite Index <.IXIC> rose 6.76 points, or 0.26 percent, to 2,586.81.
On the earnings front, Priceline.com Inc
The weaker dollar lifted commodities. U.S. crude oil
futures
Freeport-McMoRan Copper & Gold Inc
On the down side, Dean Foods Co