FintekNews-KFTX Fintech Index-12/1 Daily Closing Analysis

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

12/1/16 Daily Closing Analysis – NASDAQ Fintech Index (KFTX)


Fintech dives. Diving off the deep end of the pool too. Another big selloff in the KFTX sent the index down 12.21 points to 1030.41 (-1.17%). So far this week (only 4 days) the index has given up 37.17 points, or 3.5%, and Friday (with NFP’s coming) is looming. Might be a really deep pool.

With all the little beeps from my alert settings going off all day I suspect there are lots of the indexes issues that will have a 2 point and/or 3% move today. Let’s check:

ACIW  -.57  (18.04)  -3.06%
BKFS  -1.25  (35.75)  -3.38%
CME  +2.01  (114.92)    (Pump up the volume…trading volume, that is)
EFX  -2.91  (111.54)
ENV  -1.85  (34.25)  -5.12%
FLT  -3.87  (145.47) 
GPN  -2.13  (66.42)  -3.11%
LC  -.33  (5.33)  -5.83%
MA  -2.02  (100.18)
MCO  -3.25  (97.25)  -3.23%
MKTX  -2.87  (162.90)
PAY  -.63  (16.26)  -3.73%
SPGI  -2.73  (116.26)
SSNC  -.95  (29.06)  -3.17%
TSS  -1.63  (47.59)  -3.31%
VIRT  +.65  (14.50)  +4.69%    (At least finished on a plus stock)

Well, with 12 stocks up and 37 down within the index I now “get it” why all the ringing in my ear. Gotta turn my alert settings down.

Last day of the week tomorrow which is the first Friday of the new month and that means……..non-farm payrolls (NFP’s). Looking for 180est vs 161 prior but a miss either way will not stop the Fed from raising rates later this month. Could be a ‘fun’ Friday. Get a good night’s sleep.

Quick note: With rates rising (pretty fast too) if you are in stocks you should realize you are defacto in bonds. Be wary.