September has started in its historical weak fashion and the market ETFs show it clear as day. The S&P 500 (SPY  ) so far this week has only had one trading day due to the Labor Day holiday. The SPY is lower by 0.72% as market participants decided to sell some of their positions. Uncertainty over North Korea and their recent actions, along with weak financials were to blame for the early weakness.

The Nasdaq 100 (QQQ  ) also sold off as technology names showed early weakness. Apple (AAPL  ) was weak due to consumer disinterest in the new iPhone 8. The QQQ shows a decline of 0.90% so far this week, but is just off its all time highs.

Oil (USO  ) spiked this week as well when news came out that OPEC may consider extending its production cut. This helped pull oil prices out of their multi-week downtrend and volume was slightly above average. Analysts are mixed on where prices go from here but for now the USO is higher by 2.59%.

Gold mining stocks (GDX  ) popped on strong gold prices so far this week. Concern over more weakness in the markets has sent the gold mining stocks slowly higher in a consistent but forceful way. Since hitting a low in August the GDX is higher by almost 15% with very little attention being given to the sector.

Lastly, Financials (XLF  ) started September off weak as the insurers are still getting hit following Hurricane Harvey. This along with Hurricane Irma looking like it is headed for Florida has the insurance stocks plummeting. Investors are still trying to wrap their heads around the cost of the claims associated with both storms. The financial sector as a whole has been weak. Its August performance came in lower by about 1.5%. This week so far it has already lows 2.14%.