Editor's Note:

Our plan hasn't changed. We want to buy stocks on a dip. The challenge is exercising some patience and waiting for the dip. I'd focus on a pull back toward the 950 level for the S&P 500. Broken resistance should become new support. However, it's very possible that the S&P 500 rallies to 1,000 before correcting. Nimble traders could try opening bearish positions on a rise near the 1,000 level. Potential trading vehicles would be bearish positions on the SPY, SSO, or bullish positions on inverse ETFs like SH or SDS.