Remember what we said. Things will get random after a day like yesterday. Big leaders are indeed bouncing after one big ugly day. This is random but somewhat normal. We will know a lot more as to how and where they bounce…which we won’t know for a bit.
One casualty today is Brazil with reports that President Michel Temer of Brazil might have paid potential witness to remain silent in graft probe. The Brazil ETF (EWZ) is actually down a whopping $5.70 to $33.40 as we write this. This is a huge drop. Seeing a couple of Brazilian banks down 15-20%. Wow! Brazil had been a strong area of the market.
Again, and we emphasize, things will get random in here. More later!