By Bill Taylor-CEO, Fintegration/FintekNews & CIO, TLC Capital Group
12/21/16 Daily Closing Analysis – NASDAQ Fintech Index (KFTX)
Fintech stalls. With not many days left in the year the NASDAQ KFTX fintech index has decided to settle in up at these levels with very little activity. The index softened today giving up 4.11 points (-0.38%) to close at 1070.71. That ‘action’ pretty much matched the overall market and sectors. Or, “ain’t no big deal”.
Looking at the list (and checking it twice to see which stocks were ‘naughty’ or ‘nice’) for the KFTX’s issues that experienced a 2 point and/or 3% move today, and here they are:
ADS +2.34 (233.68)
EFX +2.56 (118.65)
FDS +3.90 (165.18)
MKTX -3.39 (153.67)
The advance decline group has turned kind of flat the last three days with today’s breadth coming in with 13 stocks up, 35 down and 1 unchanged. Almost the exact opposite of yesterday and Monday’s ‘even up” reflects a pause.
Next up? More of the same with holidays kicking in to full sleep time for markets. Don’t be at all surprised to see the Dow hit 20,000 (one big buy in one stock and……..wala) but if the fintech index doesn’t jump on that coat tail, take some profits. Caution needed. Good evening to all.