You can make use of the reversed function for this as:
>>> array=[0,10,20,40]
>>> for i in reversed(array):
… print(i)
Note that reversed(…) does not return a list. You can get a reversed list using list(reversed(array)).
>>> L = [0,10,20,40]
>>> L[::-1]
[40, 20, 10, 0]
Extended slice syntax is explained well in the Python What’s new Entry for release 2.3.5
By special request in a comment this is the most current slice documentation.