Easter Eggs Another

DOWN week. Highlighted to make sure it catches everyone's attention. Certainly it was a short week going into the Easter holiday since markets were closed on Friday. Good thing, too. Although markets were closed the government wasn't and a couple of economic releases showed soft consumer spending and inflation

NOT

picking up. Kind of not what folks were looking for. So, if the markets

WERE

open on Friday it might have been a messier week. Indeed, all the major averages (DOW, S&P 500, NASDAQ Composite) lost more than 1% each in the short week. Investors and traders are getting nervous and just now realizing how exhausted the markets have been for a while.

Worse

, those same investors/traders are coming around to the realization that the robots and AI (artificial intelligence) group 'snookered' them. The "bots" have been stealthily moving money out of the markets and getting defensive for a while now.

And

, holding the markets up to disguise their moves. Sneaky. The music stopped and all the robots have chairs to sit in.

So, if you were planning on waiting till the end of April to make your reservation to "Sell in May and go away" it may be a little late. All the planes are sold out BUT I hear United has some standby seats available.

Now to focus on the fintech sector, let's glance at the KBW NASDAQ fintech index

KFTX

which also closed off a shade over

1%

(

-11.42 points

) last week to close at 1106.62. This has been a weak sector for quite some time. Lets check which of those stocks in the 50 stock index had a 3% move last week.

ADS

(234.91) -6.86%

CATM

(43.08) -3.84%

SSNC

(35.64) +5.17%

TREE

(116.80) -3.93%

WETF

(8.22) -8.15%

Fairly short list to go along with the advance decline which showed 18 stocks up, 30 down and 2 unchanged on the week.

So what are we going to fine on this full week of trading? I anticipate more selling as it now seems people are waking up to the fact rallies do not hold. So if you are looking for a rally, well.....don't. More earnings coming but they only count on a stock by stock basis. This market is

WEAK

.

Have a super evening and week. Gotta go eat another chocolate egg now.