Ready for Another Round?

Bulls are doing their best to shake off the ugly GOOGL selling today, although as I noted this morning when you put the Alphabet selloff into context of the overall chart it is tough to argue that the stock is crashing or dead in the water. 

Still, a heavy sell program this morning definitely rattled bulls on an intraday basis, and as we head towards AAPL earnings tonight followed by tomorrow's FOMC one gets the sense that the market is almost content to remain in a holding pattern until it gains more information about mega cap tech earnings as well as monetary policy clues. 

In the meantime, two of the better China internet plays we are examining for Members are Jd.com (JD) and 58.com (WUBA), respectively below on their daily charts. Both names do not have earnings for a few more weeks and may be ripe for another round of buying after their latest mild consolidations. 

Longer-term, both JD and WUBA suffered ugly 2018s but have done what they needed to technically this year to improve, thus far.