Buy the dips, sell the rips

Mid-week market update: The SPX has been mired in a trading range for several weeks. Even as the market is once again testing resistance, it is displaying a mild positive RSI divergences, which argues that there may be further minor upside to resistance at about 2950.

Nevertheless, this pattern argues for a trading strategy of buying the dips, and selling the rips.

The full post can be found here.