I always look to volume for comfirmation on any movement. This is what we have so far looking at both exchanges specific to 50DMA volume:
TSX: 50DMA (875,600) Current: 939,319 Up .09
Amex: 50DMA (2,975,100) Current: 2,888,264 Up .11
Shaping up good and if volume continues to be positive the SP should follow. Positive volume may be an indication of some good news coming. Of course we are not in the know so someone may know something we don't. I hope it is more then an oversold bounce.