noun (n)

• a sudden minor shock or meaningless interruption(noun.event)

  Example:
  The market had one bad blip today.
  You can't react to the day-to-day blips.
  Renewed jitters in the wake of a blip in retail sales.
  

  source: wordnet30
• a radar echo displayed so as to show the position of a reflecting surface(noun.communication)

  Synonym:
  pip, radar target
  

  source: wordnet30