Nasdaq KFTX Fintech Index Whoops, party setback. The fintech party just got a noise complaint and had to halt the festivities for a while. So, party ‘interruptus’ caused the

KFTX to dive down

14

points

(-1.22%)

to close at 1140.44. Was it just end of the month profit taking, or something ominous?

Before we discuss that, let’s take a look at a very ugly advance/decline (only 4 issues up, 46 down) and which of the index’s 50 stocks moved 2 points and/or 3% today.

ACIW

-.99 (19.57) -4.82%

ADS

-3.79 (242.98)

FDS

-3.56 (177.90)

HAWK

-1.40 (36.45) -3.70%

LC

-.24 (5.34) -4.30%

SQ

-.61 (17.32) -3.40%

TREE

-3.40 (118.40)

WEX

-3.53 (11.23) -3.08%

So, although the trading session was fairly sleep worthy today, the fintech sector got hit pretty good. End of month profit taking before the President Trump speech tonight? Finally, a correction after a long rise up? Another factor, such as right after the close, the Vice Chair of the FOMC had very aggressive statements on near term (March?) interest rate hike expectations. That jumped the probability of a rate hike at the next meeting (March 15th) to almost 100%. No matter what, having been urging caution for a while I see the yellow flashing light turning light red. Beware and be cautious (really). Have a great evening.