re; Composite Index Retracement/Reversal Where's support?

[beaverdam]

Looking at TSX Composite Index this morning, and amazed we've drop down to values last held during the 1st week of March, 2016.
Looking at the(wkly) 10yr chart, 12,100 seems to be an area of support. Do we have to peel off another 1000 pts, to find support or stabilization in the market? Any thoughts appreciated.

DJIA Hasn't retreated nearly as far, back to levels during the 2nd week of Sept, 2017
Long term support perhaps at 20,000, then likely more firm support at 18,250

In 2009, the DJIA drop 20% in 6 weeks,,, it dropped nearly 54% in 17 months, from the Oct 2007 high to the low in March 2009.
Currently the loss is at roughly 28% over 1 month.

[farming101]

My comments are worth nothing but you did ask

Rather than wondering where support is the more relevant question might be why would it go up?
And how high? The charts are saying there is a lot of resistance to anything more than 14150.
There are 2 possibilities: Further heavy losses taking it down as low as 10,300 or stability in a range from 12200-14200 with periodic probes through the lower value. 2-3 year timeframe.

HOWEVER creative policy and helicopter money could make for a different outcome. The fear that has investors in its grip right now will lessen. All the players still standing will reassess and some will find they see a world of opportunity....

Whatever plays out I do not think we will see 17970.51 again for a very long time

[beaverdam]

Somewhat like Buffet, I too have some on the sidelines, but not $128 billion.
Looking for opportunity, looking for entry points. Not trying to "catch a falling knife" though.