Google Algorithm Updates - Will affect your keyword Ranking

Today i checked my keyword Ranking  and i seeing quite dramatic changes in SERPs , I was expecting some Google update so i searched for it and found Google has updated the algorithm & SERP ranking are affected today (Jan-17). In this Google update, Mostly country specific websites are affected most. In country specific searches, local tlds (like .in, .cn, .ca..., www.Google.com.ph) were given preference so far. In this update, Google has promoted many .com sites. This is the first observation.


Second Observation:

All the keywords for which we have build more backlinks were pushed down in the ranking.

I saw a major boost in the SERPs for my clients followed by a minor drop.Some suspect EMD, some think Panda, but it is hard to tell anything at this point. It may be regular algorithmic changes because Google launches over 500 algorithmic changes per year, so there are always small changes rolling out.I am not sure if this is an update or a small index shift.Anyone else noticed their keywords ranking bouncing around today? I have several sites in various niches and all keywords seem to be moving either up or down in a new position each time i search for it. So one minute i am no.1 and then search again and i am no.3 then next time no.1 again!!