Well,
THAT was fun. ADP payroll numbers came in hot (263K vs 185K est & 245K revised down from 298K prior) so the market got all giddy and silly with a big move higher. But then the Fed minutes came out (boo) and the robots began kicking the bulls, some momentum players kicked in and...........................well, a complete reversal.
NOT GOOD!
The major averages (Dow, S&P 500 & Nasdaq Composite) all finished lower on the day. It seems there has been a 'tone change' and a more nervous sentiment has taken over.AND
, the AI (artificial intelligence) robot group can "sense uncertainty". Oh yes they can. Fear them. So with 'high' valuations, poor market 'action', building negative sentiment andBEARISH ROBOTS,
its time to lighten up or reduce holdings. Or, get out.OR
, some shorts? (yes). One more thought getting little (some, but not much) chatter........North Korea. Just saying. But now lets focus on the fintech sector which has (still is) been much weaker than the major averages. Remember, this is a more "pure" fintech index since it does not include the Amazon's, Google's, Facebook and such, but rather more "nuts and bolts' type fintech stocks. Once again the KBW NASDAQ fintech indexKFTX
sold off to close at 113.12, off4.30
points (-0.38%
). Out of the index's 50 stocks let find the ones that moved 2 points and/or 3% today.MKTX
-5.77 (180.10) -3.10%
Well that wasn't the one to in today. Advance/decline registered 21 stocks up and 29 down.
President Trump meets with the big wig of China beginning tomorrow and Friday brings the monthly (March) NFP numbers. A surprise? North Korea tests a nuclear bomb as the two world leaders meet. RobotsHATE
that. Have a really nice evening and watch out in these markets.