The Tell: S&P 500 climbs after higher-than-expected U.S. inflation data again, but the rally is unlikely to last

The S&P 500 index traded higher on Wednesday, although data showed U.S. consumer prices rose 0.6% in August, the biggest increase in 14 months. However, it is unlikely stocks will rally much further, according to Jonathan Krinsky,  chief market technician at BTIG.