The weakest stocks will decline of course, often ahead of the general market decline. The further these stocks go down the higher the probability that their fundamentals are relatively weak. Not only retail traders but institutions are selling these stocks as well.
On the other hand there will be a number of stocks during this general downturn which will hold up relatively well. They might stay just below the 52-week high during this consolidation period or they might even slightly advance. Institutions refuse to lighten up on these stocks with strong fundamentals.
These stocks which hold up real good during a correction could be the next Emerging Growth Stocks. These stocks usually break out before the market turns up.
The chart below shows Wells Fargo (WFC) showing strong relative strength. As $SPX declines WFC refuses to decline. Notice that although MACD line is below the signal line it is still positive. Also On Balance Volume (OBV) is nicely grinding higher.
This is just an example how to find buying opportunities during a market correction.