Task cut out for dip buyers

Type	Indicator	Value
Daily	# of Stocks Up >4% on high volume	237
Daily	# of stocks down >4% on high volume	584
Primary	# of stocks up >25% in a quarter	3070
Primary	# of stocks down >25% in a quarter	296
Secondary	#of stocks up >50% in a month	133
Secondary	#of stocks down >50% in a month	3
Secondary	#of stocks up >25% in a month	551
Secondary	#of stocks down >25% in a month	20
Primary fast	MM 34/13 +	2949
Primary Fast	MM 34/13 -	600

584 stocks were down 4% plus on high volume.
That is a minor scratch on the bulls back.
This was mild action and not a very broad based selling. You would have seen numbers around 1000 plus for a serious correction.
So the task is cut out for the dip buyers.
Most likely scenario is attempt at rally from these levels.
Action in the Episodic Pivots continue to show junk still has buyers.
Sector rotation was in play with medical and health care stocks breaking out. So this market has more legs as of now.
After a few days of attempted rally we might see another shakeout move.
A strong breadth like we have currently is not going to turn with just one 584 negative day.
I will continue to focus on EP and good breakouts from IBD100/200 and Double Trouble and Modified Double Trouble.
I expect Double Trouble to be best performing method here onwards. It will continue to give many more opportunities for next 1 to 2 months.

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