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Low Volume Selloff Healthy for Rally

As you can see on the chart, we have several indications that today's selloff was just a normal part of the stock market. Very little conviction from sellers – which means there are a number of investment managers that missed the big March rally that want to get some money invested. They are just waiting for a buy in point which should keep our rally moving higher. Remember, we are looking for a move to the 200-day moving average.