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

1/13/17 Daily & Weekly Closing Analysis - NASDAQ Fintech Index (KFTX)

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Small rebound. At the end of a slow and very dull week, the KFTX had enough strength to rally up 6.10 points (+0.56%) to settle at 1094.26. While that IS a new all time high it is actually only pennies ahead of last week’s close (more below) which will make the week unchanged (more below). Blah and dull before the 3 day weekend.

So, who/what/which stocks moved 2 points and/or 3% today? Just glance here.

EVTC  +.60  (17.90)  +3.47%

That’s the one and only for today (Friday). The advance decline had 40 stocks up, 7 down and 2 unchanged. (Taking the rare step to point out something in the advance/decline, I want to say that there were several issues with only a .01 to .05 cent change, in which case a lot more should have shown ‘unchanged’ today. Not as pretty a picture with a new high)

So as referenced above, this is the “below part” where we look at the previous week which was just a block of very slow dull days. The KFTX managed a weekly gain of just .81 points (not even a full point……sad) to close at 1094.26 or 0%. So, a new all time high BUT ‘kinda not’.

Let’s see which of those 49 issues managed a 3% move last week.

GPN  +4.20%  (77.74)
LC  -3.77%  (5.61)
SSNC  +5.04%  (31.43)

So, a full week with 5 full days and only 3 stocks could manage to move 3%.  And, as mentioned above, a good many more had only penny gains or losses. The advance/decline for the week had 23 stocks up, 25 down and 1 unchanged. Of course this is what you would expect from a very dull market, BUT it also flashes a big yellow caution light.

With a holiday Monday (MLK Day) and only 4 trading days, what should we expect for this new week? Oh yes, and the Presidential Inauguration on Friday as well……silly me. Lets add it up; slow week ahead, tired fintech market sitting on all time highs, election/inauguration finally over and optimism extremely high. What could possibly go wrong? Well, lots. Big BIG caution light. Don’t be surprised with a downside move.

Have a super week and rest of the weekend..