Indices closed down .47% to 1.16%......

Indices were under selling pressure again.

Nasdaq closed below 50 DMA.

IBD changing market outlook to "uptrend under pressure"

S&P 500 closed @ 1391.57 above 50 DMA , RSI @ 51.20

S&P 500 low 1388.71

Internals were :

Down volume led by 3.77 to 1 in NYSE & 5.59 to 1 in Nasdaq

Declining srocks led by 2.33 in NYSE & 2.89 in Nasdaq

New 52 wk highs still leading, 115 in NYSE & 78 in Nasdaq

Oil closed @ $102.54

Gold closed @ $1634.80

VIX @ 17.56

Stocks which were down 3% or more included RIMM,
CNQ,FCX,TCK,GG,SLW,SU,V,ZNGA,MS,MU,
JDSU,CRUS,ARUN.....

AH ER :

CF UP .77%

LNKD UP 8.50%

LNKD ER was a beat in Sales & EPS, guiding higher than consensus on Sales, Also revising upward 2012 outlook.

Sales consensus Q1 $178.58 million, actual $188.50 million

EPS consensus 9 cents, actual 15 cents

Q2 consensus Sales $207.93 million, guiding $210 million to $215 million

2012 guidance Sales $880 million to $900 million vs previous guidance of $840 million to $860 million.....

AH Futures Down

AH Asian Markets Mixed

AH Oil & Gold UP

About market, It is all about jobs report, consensus is job growth of 170K. Market should find its footing by end of the day. Economic data has been on the weak side & markets has reacted to it already. Jobs data may encourage selling @ open, but we should be above lows by end of the day.

BLOG does NOT give buy or sell.

Saleem