Stocks Down, Bears Quiet; Will These 3 Growth Stock Leaders Win Big In Q4?

Major indexes held to the downside in Friday afternoon trading following a mixed U.S. jobs report, but the market still looked poised for a positive first week in the fourth quarter of the year.

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Apple (AAPL) continued to act constructively. Despite mild losses on Friday, the iPhone, Macbook and digital services titan is likely to finish higher for a second straight week.

Shares are up nearly 0.7% for the week at 155.03, within striking distance of its former 156.75 buy point in a decently formed flat base.

Continued trading below the 10-week moving average would likely spell the emergence of a new base pattern forming next to the flat base. Come Monday, Apple will be entering Week 6 of a potential new base. The correction from the stock's 164.94 high has been mild, so far not exceeding 10%. This means that a potential new flat base, saucer, or shallow cup with handle could form.

With less than 15 minutes left in the session, the S&P 500 cut its already mild decline to less than 0.2%, while the Nasdaq composite was up slightly and the Dow Jones industrial average down nearly 0.1%. Small caps, which had a tremendous run in September, cooled a bit, too. The S&P SmallCap 600 edged just 0.2% lower.

Volume is running lower on both main exchanges vs. the same time Thursday and is much lighter on the Nasdaq.

Money continued to flow out of U.S. government bonds. The yield on the benchmark Treasury 10-year bond lifted to as high as 2.39%, up from an early September low of 2.05%.

The unexpectedly large gains in U.S. wages for September, both on a month-to-month and year-over-year basis, and a dip in the unemployment rate to 4.2% appear to be a tailwind for retail and consumer-oriented firms.

Source : http://www.investors.com/market-trend/stock-market-today/stocks-down-bears-quiet-will-these-3-growth-stock-leaders-win-big-in-q4/

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