KFTX Fintech Index-12/30 Daily & Weekly Closing Analysis

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

12/30/16 Daily & Weekly Closing Analysis – NASDAQ Fintech Index (KFTX)

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Fintech poops out. The last trading day of 2016 finished with a soft lullaby snooze and a slight loss for the KFTX. The index finished off 3.90 points (-0.37%) at 1055.98. That’s to remind you of what happened Friday (30th) since with all the New Years parties, football games, travel and age(?) you, like me, will have no recollection of 2016. Party on.

Looking at individual stocks in the KFTX that moved 2 or more points and/or 3%, I found these:

NONE

Yea, less work for me. There were 12 stocks up, 35 down and 2 unchanged. Nothing happening there. Year end softness and a little disappointing.

Well, first things first, WELCOME TO 2017. Hope this new year will be incredibly awesome for everyone.

Now, looking back to last year……….. er, last week, the short 4 day week provided some unexpected softness with the NASDAQ KFTX fintech index closing down 9.06 points, or 1%, to finish at 1055.98. Not great. So let’s seek out the stocks in the index that moved 3% or more on the week.

ADS  -14.30%  (228.50)       ‘the ring leader of the downside move’

Well, that one stock above sort of sums up the whole week. Very dull trading action, a 1% loss in the index and 1 stock made up most of it. Advance/decline was poor as well with 17 stocks up, 31 down and 1 unchanged. A sad, short week.

First week of 2017?  It’s another short one with just 4 days and probably not many participants so it would seem it will be dull. Friday will bring non-farm payroll (NFP) numbers but don’t think it will make a big deal. Usually new money is put to work right after the new year (like, you get a whole year to be right or wrong) BUT there is a real softness in the fintech sector. Expect slow and dull but look for a surprise. Here we come 2017.