bounce or not to bounce

OK, so if you're trading the indices, I guess its pretty important that we're around support levels that should constitute a small bounce.
I'd like to see a rebound off 12100 with a high of 12800 again.
I guess since the primary trend is down, this should be a relatively short lived long. In other words, close shorts and wait for a new one, or risk the long to 12800.
I've taken the latter only because I can't wait.

But I guess we'll see.