Two Charts To Watch as the Markets Levitate

AAPL is bouncing hard off  its 50-day moving average today, after struggling for a few weeks to hold strength. In general, the market is staging a spirited snapback rally from oversold conditions. However, as I noted earlier I am still watching that 20-day moving average on the S&P 500 Index to see if it acts as resistance. In the meantime, two charts which have my eye are the gold miners in the GDX ETF, first below on the daily timeframe, and GPRO, second below. GDX may very well be putting in a higher low after initially holding its 2008 crash lows (light blue line). As long as $18 holds as support I am intrigued as a buyer again. And GPRO has been a consistent short idea I have charted for a while now, with the series of lower swing highs in recent months leading to the big breakdown below $70. Now, the stock is bear-flagging again and still looks like a short.