What is PEP8’s E128: continuation line under-indented for visual indent?

PEP-8 recommends you indent lines to the opening parentheses if you put anything on the first line, so it should either be indenting to the opening bracket:

urlpatterns = patterns('',
                       url(r'^$', listing, name="investment-listing"))

or not putting any arguments on the starting line, then indenting to a uniform level:

urlpatterns = patterns(
    '',
    url(r'^$', listing, name="investment-listing"),
)

urlpatterns = patterns(
    '', url(r'^$', listing, name="investment-listing"))

I suggest taking a read through PEP-8 – you can skim through a lot of it, and it’s pretty easy to understand, unlike some of the more technical PEPs.