By Bill Taylor-CEO, Fintegration/FintekNews & CIO, TLC Capital Group
11/16/16 Daily Closing Analysis & Week End Review - NASDAQ Fintech Index (KFTX)
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Moving higher. While the other market averages sagged on a so-so blah day, the NASDAQ fintech index snuck in a small gain to continue a slow but steady uptrend. The KFTX climbed 4.49 points to 1040.63, or +0.43%. Bravo fintech.
I know, I just know, that there are some of the index’s issues that moved 2 points or more and/or 3% today. Let’s take a look;
BOFI -1.04 (24.05) -4.15%
FDC +.58 (15.15) +3.98%
Hmmmmmm! Even I thought there would be more than 2. Breadth? How about 33 up and 16 down. Said another way, 2:1 advancers over decliners.
Two days left in the week and since next week is Thanksgiving (you know, that obsolete holiday between Halloween and Christmas), I would expect a couple of slow days. Maybe drift higher on the fintech sector. Have a nice evening.