Charting Brazil: What Happened to Jim Cramer's Macro Call?

Brazil's Bovespa is trading down another -1.3% right now at 58,308, taking the index losses to -21% since May 20th! I'll let CNBC argue about whether or not a -20% drop is a "Bear Market" or not; where I am from, this is labeled plain UGLY.

Of course, if you're levered long something in Brazil like Jim Cramer is, you can always "stop trading" as he so colorfully instructs his audience to do. Maybe take a siesta, of sorts?

Global Stagflation takes no prisoners. This short term decline in Brazilian stocks is severe.
KM

(chart courtesy of stockcharts.com)