Well, September starts with a flurry. Banks are breaking down, and gold is breaking out. The story with oil continues to be influenced by winds of a hurricane. First it was Hurricane Harvey and this week the Gulf of Mexico is seeing the winds of Hurricane Irma. With a significant volume of off-shore and on-shore production shut in, we should continue to see some volatility in price.
A lot of the Canadian sectors are failing at their trend lines, so that is a bigger concern for the broad index.
Greg Schnell, CMT, MFTA