Nightmare Wake Up, Wake Up!! No more nice sleepy days with naps and nice calm dreams; its a

NIGHTMARE. Markets opened fairly strong and then the selling began. Some of the major averages hit new all time highs this morning

BUT

finished lower on the day. Much lower. Key reversals are

NOT

to be taken lightly.

Reasons? Well there are a lot of 'theory's and ideas flying around out there (pick one.......or make up your own), but how about this? Why did the market get "up here" to begin with? Think about that for a while. Anyway, All the major averages suffered losses of between 1% and 2% today making for a very bad day in all sectors.

Now, focusing on the fintech sector and the NASDAQ KFTX index we find that it is even weaker than the other averages. Specifically, the

KFTX

fell

23.25

points, a huge

-2.04%

decline and closed at 1119.02. Lets cruise through the 50 stocks in the index and find which ones moved 2 points and/or 3% today. (spoiler alert.....there are lots)

ACIW

-.67 (21.78) -3.00%

ADS

-5.25 (239.29)

BOFI

-2.01 (26.64) -7.02%

CATM

-1.47 (45.21) -3.15%

CME

-3.65 (120.28)

DNB

-2.82 (104.66)

ENV

-1.05 (33.40) -3.05%

FDS

-4.45 (176.26)

FICO

-2.40 (128.31)

FLT

-3.50 (156.47)

LC

-.17 (5.22) -3.15%

MKTX

-5.40 (184.43)

RATE

-.40 (9.55) -4.02%

SQ

-.73 (16.51) 4.23%

TREE

-5.90 (116.65) -4.81%

WETF

-.31 (8.65) -3.56%

WEX

-2.73 (102.22)

Yeah, an expanded list from what we have been seeing. Also, a very

VERY

ugly advance/decline with 1 stock up and 49 down. Now that's ugly.

OK, I have been waiting for the last of the 'blog' to say...."I told you so". Sorry, I just couldn't help it. I have been urging (begging for) caution for weeks. I still mean it. These selloffs, corrections, are going to be fast and nasty. There are a whole lot of people in the markets that have just realized the music stopped and all the chairs are taken. And musical chairs is still being played so don't be the one left standing. Oh yeah, forget the napping for a while. Get a good nights sleep.