Take a look at the chart below (I'll tell you what it is at the end of the post). Would you want to be long?
Notice the long-term MACD divergence and the sweet head and shoulders pattern. This is definately a bearish looking chart. It is the flipped chart of oil, and implies crude rallying to 70 or so.
The interesting thing is that crude oil tends to move in line with the stock market. So, the market looks bearish and crude oil looks bullish. One will be right. I will have to adjust quickly if the stock market decides to follow crude oil higher.