Capitulation?

Have to wonder if this mornings big down move might have shaken out the final weak longs and those who tried to buy it yesterday. Market has come back from a couple hundred down to flat and that is impressive. Think tomorrow will tell the tale as to whether this was the beginning of something more ugly, or simply a much needed correction. I am in the much needed correction camp, but am still not willing to buy much down here until we get some stability for a couple days. Did buy some WTS this morning and bought back my SHLD that I was fortunate to sell in the pre-market. Covered half of my short in FXI, the Chinese ETF and am wondering if I go ahead and cover the rest, but will wait for awhile to make sure this isnt a rally that should be faded. Tough to know....