Looking at the weekly candlestick charts for the past four years or so, I see lots of stock indexes either testing or approaching critical trend lines...
S&P 500. The Big Daddy. Very close to a trend line test. A fall below the March low would complete a head and shoulders top at this time frame.
Aussie ASX SPI 200. The weakest of the markets reviewed in this post, with trend line support already smashed, and hitting new lows for 2011. "We'll all be rooned," said Hanrahan,"Before the year is out."
China H-shares. Trend line support is broken, 12000 is offering support, 11000 may also, but if that gets broken, all bets are off.
India Nifty 50. Watch those trend lines.
Japanese Nikkei, testing the trend line again.
UK FTSE has closed below the trend line.
German DAX has closed on the trend line.