By Bill Taylor-CEO, Fintegration/FintekNews & CIO, TLC Capital Group
1/17/17 Daily Closing Analysis - NASDAQ Fintech Index (KFTX)
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Slipping lower. Still quiet and dull and there does not seem to be a lot of momentum on the buy side, so we slide downward. With that, the KFTX and it’s little fintech friends slid down 7.85 points (-0.72%) today closing at 1086.45.
Looking at the issues in the index that moved 2 points and/or 3% today, here is what I found.
ADS -7.55 (230.00) -3.18%
BKFS -1.25 (35.65) -3.39%
BOFI -1.24 (27.91) -4.25%
HAWK -1.15 (36.30) -3.07%
INFO +1.30 (38.33) +3.51%
MCO +2.19 (99.15)
Not a great advance/decline line today with only 11 issues up, 317 down and 1 unchanged. Bigger losers too.
Saw a friends comment today saying the talk out there has been “buy the anticipated new administration and sell the inauguration”. Well, if so, there are only a few days to lighten up. Not ‘crazy’ about the fintech (and markets in general) sector “up here” since last week. It’s a ‘caution’ week and expect slowness going into Friday. Have a super night.