By Bill Taylor-CEO, Fintegration/FintekNews & CIO, TLC Capital Group
10/4/16 Daily Closing Analysis – NASDAQ Fintech Index (KFTX)
Soft. Slow and soggy best describes the overall markets with the KFTX index declining 4.74 to settle at 1034.56, off -0.46%. The index is drifting down and subtly breaching some technical areas in here. But hey, it’s not gold or silver (ugly).
There are 49 stocks in this fintech index but only one (1) managed to have a 3% move. BOFI was up over 3% early and softened toward the end to finish at 22.10, up .40 (+1.84%).
So maybe there were some stocks that had a +/- 2 point move? Nope. Again, only one (1) of those 49 stocks could move 2 points; ADS got hit losing 4.19 to 212.71 off 1.93%.
Tomorrow is mid-week and only a few days until Friday’s NFP number. Probably more of the same. Slow with a touch of downside is greeting the 4th quarter. Have a restful evening.