ZOMBIE Markets Continue, Nasdaq KFTX Fintech Index & Market Close (5/9/17)

Zombie Markets

Sleepwalker or Zombie? We’re talking financial markets here, but they do seem eerily similar. The BIG difference today? The DOW and S&P both went DOWN (a little) but not the NASDAQ. Those big name techs just keep going. Don’t know why (maybe they have bitcoins) but they do.

So, the DOW lost 36, the S&P lost 2+, NASDAQ gained 18, crude oil dropped under 46, 10 year treasuries 2.39%, gold off 6 and AND bitcoin up $135. Oh yeah, the “no one cares” VIX is still under 10. No worries. No fears.

The KBW NASDAQ fintech index (KFTX) basically stalled only inching up .41 of a point (+0.04%) to 1158.17. Nothing to see there.

Maybe the robots and the AI (artificial intelligence) gang have made the markets totally efficient. Maybe all the ETF indexing has locked things up. OR, maybe they’re going to be surprised that they DIDN’T do all the above. I just gotta think SOMETHING has to go wrong. Damn, I hate getting ol…………….uh, more experienced.

No big news events to look forward to (as if it matters) so keep the pajamas out and the pillow fluffed.