KFTX Fintech Index-1/27 Daily & Weekly Closing Analysis

Stalled at the highs. Friday was a super slow day with barely a breath of movement. The KFTX decided to just hang out up around the highs (all time highs actually) and do nothing. Really, nothing. The fintech index closed off .57 points to 1101.61, a whopping -0.05%.

So, with no movement on the last day of the week and volatility just plain missing, let’s check to see if any of the KFTX’s issues managed a 2 point and/or 3% move today.

NONE.  Not a one. Zero. Advance/decline was very even with 23 stocks up, 24 down and 2 unchanged. Hardly worth getting up. That’s Friday.

For the week the KFTX strengthened to new all time highs before settling back a touch the last two trading days of the week. The fintech index finished up 8.81 points at 1101.61, a gain of a touch under 1% (0.08% actually). Let’s call the week “firm” and “steady”.

If you are wondering (we always are) which stocks in the fintech index had a 3% change for the week………….well here they are:

ADS  -3.81%  (222.35)
BKFS  +4.09%  (36.10)
BOFI  +3.90%  (28.42)
CME  +3.23%  (120.31)
GDOT  +4.10%  (26.64)
LC  +6.12%  (6.14)
MKTX  +13.04%  (179.82)  (Biggest percentage change on the week)
PYPL  -4.26%  (40.27)
SPGI  +4.50%  (120.69)
SSNC  +3.18%  (32.30)
TSS  -3.61%  (51.28)
VIRT  +4.09%  (17.75)
WU  -5.73%  (19.59)

On the week, there were 28 issues up, 19 down and 2 unchanged. Armed with all that cool information what happens now? Great question. Obviously the fintech market (and all others too for that matter) are basically sitting on all time highs with only minor selling ever coming in. And this after nine years of bull market. So, logic says we should head down, especially with so much uncertainty hanging out in the world. BUT, what does logic have to do with markets? Answer; NOTHING. So, illogically I would expect the market to continue moving higher (buying panic??) in the next week or so. BUT, my fear antenna is up and when (yes, when….not if) selling hits it will be severe, so select some hedges or shorts. Soon.

Have a great week and don’t doze off. It’s gonna get rocky.

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By Bill Taylor-CEO, Fintegration/FintekNews & CIO, TLC Capital Group