The market had a strong first hour of the session before selling off and closing near session lows.
Chinese names remain very, very heavy. $SINA, $BIDU, $IQ, $NTES all got clocked after reporting earnings. Tonight $YY and $HUYA are both down sharply after reporting earnings tonight. $BABA reports earnings last this month and may come down to test a key support level at $170. A break there sets up significant downside. I'm not sold on that yet, I think a test of $170 will make for at least a short term buy.
$NTES chart looks tough here for the bulls.
$IQ reported great earnings and the market sold it off. I think it has potential to take out record highs from not long ago. Support needs to hold here as well.