By Bill Taylor-CEO, Fintegration/FintekNews & CIO, TLC Capital Group
11/2/16 Daily Closing Analysis - NASDAQ Fintech Index (KFTX)
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Deeper and deeper. Sliding into an expanding sinkhole with a quicksand bottom is no fun (not that I’ve done it) but that’s where we find the NASDAQ fintech index. The KFTX broke under the psychological 1000 number today to close at 990.68, off 10.95 points (-1.09%). Ouch!
Lots of ‘action’ within that 49 stock index so let’s have a look and today (for the first time) a combined list of +/- 3% and +/- 2 point movers:
ACIW down .89 to 18.12 (-4.68%)
DNB off 4.65 at 118.95 (-3.76%)
ENV sank 1.70 to 33.60 (-4.82%)
EVTC off .55 at 14.25 (-3.72%)
FLT down 20.66 to 152.02 (-11.96%) Beating earnings does THIS?
ICE up 2.17 at 265.22 (+0.82%) Increased trading and new product.
RATE lost .30 to 7.35 (-3.92%)
SQ up .71 at 11.78 (+6.41%) Earnings.
WEX lost 2.66 to 103.30 (-2.51%)
So, there were 8 issues up, 2 unchanged and 38 down. Getting ugly and crowded in that sinkhole. Too soon to pick bottoms here.