KFTX Fintech Index-1/4 Daily Closing Analysis

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

1/4/17 Daily Closing Analysis – NASDAQ Fintech Index (KFTX)

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Blast off. No doubt about today’s strong fintech rally. The KFTX not only tested the old all time highs around 1078 BUT blew right through them to rocket up 20.85 points (+1.95%) to close at 1089.95……..an all time high. Impressive.

Let’s break this big move into individual issues, specifically which ones moved 2 points and or 3% today.

ADS  +4.77  (237.78)

BOFI  +.97  (29.37)  +3.42%

CBOE  +2.87  (75.88)  +3.93%  (Trading volume picking up)

ENV  +1.45  (36.50)  +4.14%

FDS  +4.57  (169.71)

FICO  +3.30  (123.47)

FLT  +2.40  (147.05)

GPN  +2.63  (73.13)  +3.73%

LC  +.32  (5.74)  +5.90%

MKTX  +2.74  (152.92)

MSCI  +2.00  (80.71)

SPGI  +3.35  (111.74)  +3.09%

SQ  +.44  (14.25)  3.19%

SSNC  +.90  (29.77)  3.12%

VIRT  +.55  (16.60)  3.43%

Today the NASDAQ fintech index saw extremely strong breadth with 46 stocks up. 1 down and 2 unchanged. That’s just about a perfect run of the table. Good gracious.

Now what? Nice of you to ask me since I was calling for a very slow day and to be really cautious (I was wrong once back in 95 too). Tomorrow and Friday bring numbers (ADP & NFP) but they should be meaningless in this environment. There is no way that “the powers” won’t print the DOW at 20,000 which should spill into a strong fintech sector. Gonna get giddy in market land. Go for the ride but get out of the car before it goes off the cliff. Have a good evening.