Stocks world-wide are looking increasingly weak. Banks and other financials are particularly weak.
This is a daily chart of the European Banking Index - and it does not look pretty. Last Friday (US payrolls) highs should act as very strong resistance (those levels are about 4.5% higher right now), and this index ought to fall to its 200 day moving average, about 16% lower.
This is a weekly chart of one of the BRIC darlings - Brazilian Petrobras. With over $200bn market cap, this is one of the largest companies on the planet, and it, too, does not look good.
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