This morning, all of the leading Chinese internet stocks are declining lower. Baidu Inc (NASDAQ:BIDU) is considered the leading Chinese ADR in the market. Today, BIDU stock is trading lower by $2.83 a share. Short term traders should watch for intra-day support around the $137.00, and $135.00 levels. The daily chart is holding up fine for BIDU at the moment.

All of the major stock indexes are rallying sharply higher today. Technology, energy, precious metals, and even the financial stocks are trading higher on the session. By all accounts the major stock indexes are holding up very well. While this rally appears strong today there are a few leading stocks that just can't seem to catch a bid.

This afternoon, the major stock indexes are trying to stage another positive close. Since September 12, 2011 the S&P 500 Index has rallied higher by over 60.0 points to close above the 1200.00 level. While the bounce has been very sharp in the major stock indexes there are still a lot of problems with this market.