I don't see a bear flag (but I do see one on the 60 min chart, the last 5 hrs).   I see a breakout on 12/31/12 from a downtrend.  The next day (1/2/13) it opened very near the 50dma and turned back down but so far has held the low of 12/27/12.  Note that although the selling was pretty sharp on Friday it stopped at the 20dma.  Dan Fitzpatrick is looking for a higher low imminently, and he will be going long.  Perhaps we get an up candle closing above the 20.  If the volume is decent it might be worth a long.  Stop then would be below the higher low that would form (either of last Friday or the coming days).  

The Bollinger bands are just beginning to pinch together, so a move in one or the other direction is coming.