As noted in ChartWatchers this weekend, the Mobile Payments ETF (IPAY) came to life in November with a 7% gain, which was almost twice the gain in the S&P 500 SPDR (+3.62%). IPAY was lagging in September and October, but is now leading the market as the holiday shopping season begins.
Among the top 10 holdings in IPAY, Square came to life over the past month with the largest gain. The PerfChart below shows performance for SPY, IPAY and the top ten stocks in November. Notice that SQ is up double digits and leading the charge. Fiserv (FISV) is next with a 9.5% gain and Global Payments (GPN) is third with a 7% gain.
On the price charts, FISV, GPN and Fleetcor (FLT) are the leaders with new highs in November. Mastercard (MA), Visa (V) and Fidelity NIS (FIS) are very close to new highs after breakouts and follow-through the last six to eight weeks. I expect these three to hit new highs before yearend.
There is clearly a lot of strength within this group. Chartists looking for a leading ETF and leading stocks should focus on IPAY and these six.
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