A Far Cry from the Pony Express

One of the more fascinating ETFs to track in the coming quarters is the IPAY, focused on mobile payments plays. The ETF's prospectus notes that its mission statement, essentially, is to capitalizes on the shift from credit card and cash transactions to digital and electronic.

There are several interesting ways to play this theme, with prominent names like PYPL SQ front-and-center for most. 

But an iconic, seeming aging brand like Western Union is actually a holding in the IPAY. 

WU clearly has the brand recognition and infrastructure to pivot to the digital theme. And I am curious to see if the market treat the firm as a champion of capitalism for having the ability to be flexible enough to pivot. 

On the WU daily chart, below, the stock is snapping back nicely from some weakness yesterday. Note the attractive base consolidation after bulls regained the 200-day moving average (for the first time a good while) earlier this month. Next earrings are scheduled for May 7th. But WU will certainly be one of the IPAY plays on my radar going forward. 

Elsewhere, the INTC weakness is hitting most semis and the SMH ETF. However, other parts of tech like software continue to exude impressive resilience. Hence, we have another mixed, rotational market today.