New month......
SNOOZE. New quarter.......
SNOOZE
. Markets are basically saying "why should we wake up? What for?" Maybe everybody's "pre-gaming" for tonight's NCAA basketball championship. No matter what its still slow and quiet. All the major averages softened slightly today but did manage to cut the morning's earlier deeper loses. Just couldn't get to the plus side. Not a real good way to begin a new (2nd) quarter. With car sales beginning to slow, ADP payroll numbers due Wednesday looking to sink (195K est vs 298K prior), Friday's release of March NFP's also looking to be lowerAND
earnings season kicking off next week maybe it is time for a snooze. Markets have come veryVERY
far and are looking .............. lets say "tired". Did I hear "correction?'" Can markets actually decline? Well yes little Timmy, they can. And theyWILL
. Get prepared. Once again, focusing on the fintech sector, we find theKFTX
fintech index is really significantly weaker than the other averages. In fact, the KFTX basically gave up last week's gains with a loss of10.57
points (-0.93%
) and closed at 1125.10. Its pretty clear by looking at the advance/decline (6 issues up, 44 down) that the fintech space is under pressure. The KFTX doesn't have any of those fancy big names (Apple, Google, Amazon, etc) to help drag it higher so it really shows a "pure" fintech picture.Anyway, lets take a look at any of those 50 index issues that moved 2 points and/or 3% this new quarter Monday.
BOFI
-.99 (25.14) -3.79%
LC
-.20 (5.29) -3.64%
TREE
-3.55 (121.80)
So, there it is. Summing up;CAUTION
and sleep with one eye open. Have a good evening