KFTX Fintech Index-1/31 Daily Closing Analysis

Tiny move up. Almost a repeat of yesterday with a scary morning selloff, recovery (at least for fintech) and today a tiny gain. It all adds up to……ho hum. The KFTX inched up .92 points (+0.08%) to settle at 1100.78. The fintech index has the two day blahs.

The advance/decline was just about the same as yesterday as well with 18 stocks up, 31 down and 1 unchanged. Super dull. But, there are some stocks that had a 2 point and/or 3% move today and here they are:

BOFI  +1.14  (29.50)  +4.02%
MA  -2.97  (106.33)
MKTX  +5.91  (187.25)  +3.26%
NDAQ  +2.36  (70.54)  +3.46%

Hmmmmmm, four stocks today. Two more than yesterday.

Tomorrow the FOMC meeting ends and there is NO expectation of any interest rate hike. No after press conference either so probably a snooze. Unless they surprise and DO hike, then all h*** breaks loose. NFP on Friday (175K est vs 156 prior) so looks like the rest of the week is gonna be like the last two days; dull with perhaps some scary volatility. No big deal……yet. Stay calm but kind of look for some short thoughts. Have a nice night.

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