Double yawn. Still sleeping and knee deep in really sticky, gooey icky mud. Oh yeah, talking about the fintech index (KFTX) and today’s market action. In case you are awake, the KFTX did gain a whopping 1.26 points (+0.11%) and closed at 1109.50. Another blah day.
I did spot a few “movers” today within the KFTX’s 50 stocks so let’s have a look at those that had a 2 point and/or 3% change today.
CBOE -2.22 (76.97)
CME -2.16 (116.57)
EEFT +4.43 (76.90) +6.11%
FIS +2.54 (79.84) +3.29%
FLT +2.50 (151.25)
ICE -2.89 (57.04) -4.82%
RATE +.50 (11.10) +4.72%
TREE +2.45 (115.95)
That’s several more than the past few days and it looks like the exchanges suffered the most as a group. Guess people realized sleepy markets don’t make for a lot of trading volume. Advance/decline registered 28 issues up, 20 down and 2 unchanged.
So what’s with this lack of interest and volatility? I just KNOW someone’s to blame but I don’t know who. Wish I did. By the way, interesting little fact, this is the least volatility for the start of a year in over 50 years. Go figure.
In any event, as I said yesterday, the longer this sleep stuff goes on up in this all time high area, the more concerned and cautious I get. Not impressed. Have a good evening.
By Bill Taylor-CEO, Fintegration/FintekNews & CIO, TLC Capital Group