Where Fibs and Trendlines MeetOne of my favorite trendlines to use for long term buys and sells is the 40 month moving average. A quick scan of the SPX monthly chart shows that recent trips to this line were potential action levels. Interesting to also note, when the Fib retracement template is placed over the chart, in a couple of months, continued downward movement on SPX would hit both the 40 month average as well as the .236 Fib retracement. 2362? I haven't heard anyone throw that number out there yet. Let me be the first.
