As weak PMI data came out, Chinese President Xi Jinping promised cuts to import tariffs, but any major news on a trade deal will wait until after the elections.
A flush of FX outflows threatens a breach of the 7 level vs. the dollar, and commodities will likely follow suit.
The biggest risk right now is the yuan level versus the dollar.
But here are the signs to watch, and how to protect yourself.
The market is giving no clue as to which way it is headed, so stick to fundamentals.
Data has been decent, but is showing signs of softness as the demand collapse in the rest of the world feeds into U.S. data.
Big-picture concerns are intensifying selling pressure, which favors bargain hunters in search of individual stocks.
Here's the play as China's yuan approaches trading at seven yuan to the U.S. dollar.
The Chinese central bank is moving to boost asset prices and offset trade war and slowdown fears.
Rather than a squeeze on aluminum, this is about how warehousing companies are managing inventory based on spreads, physical premiums and carry.