We have a long way to go to call it any meaningful correction, that term is misleading in the recent era. If you want to know if the value will become more reasonable allowing entry at good prices for long term - then theres a way to go.
However If you want a pull back so you can enter and make a profit then the question is if the big mutual funds see it as value yet because they are what kept the prices way above reasonable value as they have money from guys like yourself and have to stick it in the market high priced or not.
Right now the Us stocks have crossed an important psychological level - they have given up all gains for the year, so best to see what happens from here before piling in, because when your mom and pops etc look at their 401s etc and start calling for their dough so they can at least have some left to get drunk on before the whole place turns to sh!t then you might start to see some capitulation with your taxi drivers etc getting margin called silly and before you know it everyones dumping every thing and you are left wondering why you stood in front of a bus full of panicking amatures
So cut a long story short I dunno, the Us equity market is all rigged, bonds are better but too high to buy now
Like i said this is very important psychological level, so hang on see if it cracks, and if it holds out then would probably be as good as a any a time to load up