KFTX Fintech Index-1/6 Daily & Weekly Closing Analysis

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

1/6/17 Daily & Weekly Closing Analysis – NASDAQ Fintech Index (KFTX)

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Fresh new highs. Fintech keeps on climbing and hitting new highs with the KFTX closing at 1093.45, up 5.39 points (+0.50%). Seems like the train left the station and is picking up speed. Woo Hoo!!

With the index ‘way up here’, let’s check the stocks in the KFTX that had a 2 point move and/or 3%.

MKTX  +4.44  (157.15)

 

SPGI  +2.01  (114.60)

 

SQ  +.44  (15.00)  +3.02%

WOW! That’s a whopping 300% more than yesterday. Remember, yesterday (Thursday) had no stocks on the list. What does that mean? I have no idea but I liked putting that in there. Breadth had 35 issues up, 14 down and 0 unchanged.

For the week, the NASDAQ fintech index jumped up 37.47 points to close at 1093.45 which equates to a nice +3.5% gain this past week. And (drum roll please), an new all time high. Short week, new highs. Cool.

Let see which stocks in the KFTX moved + or – 3% on the week.

 

ADS  +3.11%  (236.32)

 

ENV  +3.52%  (36.75)

 

FDC  +8.51%  (15.46)

 

FDS  +5.89%  (170.74)

 

FLT  +4.90%  (148.40)

 

GDOT +6.32%  (25.07)

 

GPN  +6.75%  (74.45)

 

INFO  +3.24%  (36.66)

 

LC  +8.90%  (5.63)

 

MA  +3.76%  (107.76)

 

MCO  +3.88%  (98.30)

 

MKTX  +8.17%  (157.15)

 

MSCI  +5.92%  (83.40)

 

PAY  +5.56%  (18.60)

 

PYPL  +3.78%  (41.45)

 

SPGI  +5.77%  (114.60)

 

SQ  +9.92%  (15.00)  (** top percentage gainer on the week)

 

SSNC  +3.11%  (29.92)

 

TSS  +7.77%  (52.97)

 

V  +4.55%  (82.21)

 

VIRT  +3.77%  (16.50)

 

VNTV  +4.35%  (61.82)

 

WU  +3.25%  (22.57)

Well good, but that is so last week. What now? First, we are back to a five (5) day week sitting on all time highs. If you are bearish you have been wrong. BUT, if you are a little squeamish and bearish you certainly are closer to “the top” (I’m in that camp). Make no bones about it, the DOW will hit 20,000 and should drag the other averages along for the ride including the fintech index. I hear “chatter” that the upside continues into the inauguration (DUH, who do you think is taking the oath?) but that seems bogus. Let’s play it by ear, looks higher this week BUT getting very pricey. Careful out there. Have a super week.