TSX, Beaten Down Hard, Getting Up from the 10 Count?

The Toronto Stock exchange has taken a beating the past 6 weeks, the question is are we in for more? Let's take a look at the weekly chart. In the chart below it would have been nice to find support where the downward arrow is pointing, but that has been broken. The next level of substantial support is around the 12,900 level....remember how much trouble we had breaking out from there, you can see it in the chart and the line that has the upward arrow pointing to it.

However, the daily chart has some encouraging signs. RSI has turned up, the upwards pointing arrow....and we had a positive outside day, meaning the positive candlestick chart engulfed the previous day. Outside days when the market is positive are nice signs to see. We may have a little more to go, but signs are starting to point to an end of the carnage, the TSX is getting to it's knees on the 6 count...