Negative momentum seems to be digging in. Markets are down marginally after overnight futures were mostly positive seeming to indicate a mild rise at the start. International news is weighing on investors. The protests in Hong Kong are having an impact and even the Russian sanctions seem to be having a negative global impact as the Russian Ruble is at historic lows. The US dollar is continuing a strong rally with global investors seeking a safe haven to park their money in a world that seems much less secure than it was a month ago. US economic data is mixed. The Chicago PMI, a key measure of industrial activity, was strong with a reading of 60, but it was down from last month's measure of 64. Unsettled is probably the best term for this market. As we enter October investors must surely be nervous as they reflect on a month with a history of significant market corrections. Oil and gold are both down on the surging US dollar.
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