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S&P500 Dips on Ukraine-related Risk Aversion - Buy on Dip?

The recent developments in Ukraine, a country now without a government and polarized between supporters of Russian involvement and supporters of Western ie. EU influence, has added tension in the geo-political arena as well as the financial markets

We saw global equities start the week with a dip. Let's take a look at the S&P500.

SP500

(S&P 500 4H chart)
The 4H chart shows price has been bullish, rallying in a channel. Price was kicked back to the channel support.

S20-R40

I look at the combination of stochastic at 20 and RSI at 40 as a guide for entry into an uptrend. We have a bull run since February and no signs of reversal yet. I am looking at the initial sell-off as another bearish correction, which is ripe for a reversal back into the primary trend in this time-frame.

Risk-on Through Revolutions

This is a purely technical anticipation. I have no idea what will happen to Ukraine. The stock markets weathered several revolutions in the MENA area, so I think this risk aversion should be short-term. 

However if the S&P 500 dips below 1830, and the 4H RSI dips below 40 towards 30, risk aversion would appear to have a bigger grip on risk sentiment. We should then turn to the daily chart for the S20-R40 combination:

(S&P 500 Daily chart)

The daily chart shows a market that has been very bullish, as the S&P500 continued to make historic highs. So even if the risk aversion is more then just an intra-session thing, we can still look to buy after a medium-term bearish correction.