3pm update - tempted...to the dark side

Watching the 15 and 60min index cycles - along with the VIX, it sure is tempting to go long right now. Its opex week, we still have the Facebook hysteria, and even the most ardent Permabear has to admit, we are due some kind of significant (2-3%) bounce that last longer than an hour.


Sp'15min

VIX'15min

Summary

We have some clear bear flags on the index charts, and a bull flag on the VIX (which is breaking above as I type). However, the daily MACD cycles are actually turning up on a few charts. The Transports is one of the most bullish indexes I can see right now.

So yeah..it sure is tempting, but it'd mean I'd be holding overnight....hmm...to be decided.
For the moment...I remain watching.

UPDATE 3.15pm

VIX broke out....can't be going long now!  More Greece news...something about 'bank deposits being withdrawn..time period unknown - source : clown channel (cnbc)