A hold below the 50 MA (a bearish Death Cross formed awhile ago and was retested twice) could see price drop to retest the double bottom around 13,650, or lower. Watch for a bearish crossover to form on the MACD and for a drop and hold below the zero level to confirm such a scenario.
Also, as I mentioned in my post of January 2nd, a drop and hold below $50.00 on WTIC Oil could very create such a down-draft in the TSX Index...and, possibly, all other World markets.
END-OF-DAY UPDATE: Here's a 1-year Daily chart of the TSX Index as it closed today. Note the bearish RSI crossover below the 50 level, along with a bearish crossover of Stochastics...hinting of further weakness to come.
The following 3-year Daily ratio chart of the SPX vs the TSX shows the under performance of the SPX from its peak on December 10th. Price is now sitting on a confluence of major support provided by an uptrend (which began on September 16th) and rising 50 MA. All three indicators (RSI, MACD and Stochastics) are suggesting a further weakening of the SPX...one to watch, along with the TSX and Oil, as a break below this major support level could prompt a major sell-off in U.S. equities.