So with major indexes currently trading below their 200dma, could they drag the S&P, Dow, Nasdaq, TSE, Sensex, FTSE, Nikkei, Hang Seng and even Bovspa (Brazil) down to test that level? Most indexes are just under the 50 day as of today's close so if they can't get above that level I'd say there's a possibility. Here are charts courtesy of StockCharts.com. The 200dma is the red line.
$ATG (Greece (Athens) General Share Index)
$SMSI (Spain (Madrid) General Share Index)
$PTDOW (Dow Jones Portugal Stock Index)
$IEDOW (Dow Jones Ireland Stock Index)
$SSEC (Shanghai Stock Exchange Composite Index)
$GS (Goldman Sachs Group, Inc.)