Technical screens found another ETF that has confirmed a weekly triangle suggesting continuation of the current bearish trend.  The pattern is confirmed with the Relative Strength Indicator (RSI) pushing below the trendline at the same time the moving average of the RSI is moving lower.The iShares MSCI Europe Financials Sector Index Fund (EUFN,[stock EUFN]) appear to be unable to break the declining trendline suggesting for further decline.

Bottom Line:  Short sell EUFN at $14.45 or better with a stop loss at $15.50  and a price target of $12.85.  Remember to short selling brings on additional risk be sure to consult your broker.

iShares MSCI Europe Financials Sector Index Fund (EUFN,[stock EUFN]) seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI Europe Financials Index. The fund invests at least 80% of its assets in securities of the index and in depositary receipts representing securities of the index. The index is a free float-adjusted market capitalization weighted index designed to measure the combined equity market performance of the financial sector of developed market countries in Europe. It is non-diversified.