Back to Russia

It has surely been an exhilarating eighteen hour or so for markets, with plenty of market players merely trying to process some of the most violent price swings imaginable is a short period of time.

Regarding equities, it appeared to be a day of rotation. "FANG" stocks are mostly red, while biotechs received strong inflows.

Banks and the rates' trade continue to play out, broadly speaking. This is a critical part of the market going forward and I will flesh it all out for Members tonight in my full video recap. 

In the meantime, note Russia acting much better than other emerging markets today after the Trump victory. 

Russia was acting very well long before the election. But you can see the weekly RSX chart, below, still trying to prove a major bottom.