By Bill Taylor-CEO, Fintegration/FintekNews & CIO, TLC Capital Group
11/1/16 Daily Closing Analysis – NASDAQ Fintech Index (KFTX)
Fintech slide deepens. The sinkhole that the KFTX index fell into is filled with quicksand. Nobody around with a rope to pull it out either. NASDAQ’s fintech index slid lower by 7.49 points to settle at 1001.87, off -0.74%. Technically it’s really broken down.
As is always the case, there are a few issues that bucked the downward spiral (at least today) and they are included in our intraday +/- 3% club. And, here they are; ACIW up .89 to 19.01 (+4.91%); FICO off 3.77 at 116.91 (-3.12%); FIS up 2.93 to 76.85 (+3.96%) beating on Q3 earnings, missed on sales; ICE down 7.34 to 263.05 (-2.71%) recovering slightly; LC (our sad little friend) off .07 at 4.86 (-1.42%); TRI up 1.64 to 41.05 (+4.16%), cutting jobs to streamline ops; VIRT lost .20 to 12.60 (-1.56%); and WEX down 3.14 closing at 105.96 (-2.88%). A mixed bag for sure.
Big movers? We got them. These made our 2 point club today; ADS -2.21 (201.74); FDS -2.44 (152.28); FICO -3.77 (116.91); FIS +2.93 (76.85); FLT -2.62 (172.68); ICE -7.34 (263.05); MA -2.06 (104.96); MKTX -2.45 (148.31); and WEX -3.14 (105.96). Not much of a mixed bag here……..mostly all lower.
So, with the week now down to three more days, what might we expect (keep in mind I called for quiet yesterday, so…….) on those days? FOMC meeting wraps up tomorrow afternoon and then Friday NFP (non-farm payroll numbers) come in. Oh yeah, there’s this presidential election thing too. Bring a pillow but set loud alarms. Go Cubs.