Will China Bounce?

It already has. How far some stocks could run: Alibaba is about 35 percent below horizontal resistance and 50 percent below downtrend resistance.

Haidilao edged past resistance, but still hasn't competed a base:

A China Pattern

Here are two stocks. One is the China Technology ETF (CQQQ). The other is A.O. Smith (AOS), a company that generates about one-third of its revenue in China.

FXI, CQQQ Bounce, Bitcoin Falls

iShares China Large-Cap (FXI) bounced, doesn't look like much happening right now. Guggenheim China Tech (CQQQ) back into trading range, would be a great short candidate if it manages to climb back to the top. Still looking for a bearish resolution. Final chart is Bitcoin and the Nasdaq-100 ETF (QQQ). The dip in Bitcoin is bearish for the stock market.

China Tech Topping

China tech could be in serious trouble. Related: Do or Die for Tech