The Closing Look

Stocks fell on Monday, adding to Friday’s losses as the market continues pulling back after encountering (and failing) near stubborn resistance last week. The S&P 500 continues pulling back into its 50 day moving average. In tech news, Microsoft (MSFT) fell over 2% after the tech-giant said it would buy online networking giant LinkedIn (LNKD) for $26.2 billion in its biggest-ever deal. LinkedIn shares surged +46.6%. In other news, shares of Apple Inc. (AAPL) fell after the company held its latest developers conference and failed to impress.

Gary’s Thoughts: We said Friday’s action may have meant something of import and Monday adding to those thoughts. Go slow.