The stock market scare is starting to correct itself. Largely due to the fact that investors become smarter when the is more risk. Now that there are so many risk adverse investors, good value stocks become available and eventually people will come back to the markets and this will straighten out the ship.
I think if they would declare correction mode it would just cause panic. I think everything should be left the way it is and let the chips fall where they may. I think using the word correction is going to make people less likely to invest and cause more uncertanity.
Wall Street doesn't "declare" market corrections. A correction occurs when the stock market declines 10% or less over a relatively short time frame. The economy is what drives the success or decline of the stock market. As long as the economy is in a growth mode the stock market remains positive. When the buyers start to take profits the market will correct itself.
Wall Street has no business declaring the economy in correction mode. Stocks are volatile and with this being an election year, there is a lot of media focusing on trying to make things appear better than they are. Truth is unemployment remains at a high and stocks remain teetering on a down spiral. Shame on Wall Street!