Brazilian Stocks Busted; Charts Show 30% Downside

NEW YORK (TheStreet) -- Market observers often note that upgrades and downgrades by rating agencies are lagging indicators. S&P just downgraded the debt of Brazil to junk status (Never thought I would use the words junk and status in the same sentence). Brazil suffers from a number of mounting problems, and that is certainly reflected in their weak stock market and floundering currency. One way of keeping track of Brazil's stock market is the Brazil iShares ETF  . The long-term chart of EWZ, a...