Just a Stumble

Are US stock markets back on solid footing? Is the "correction" over? Was it a correction at all? Was the massive decline a harbinger of recession or, worse yet, a depression? A one day resurgence was certainly welcome, but is by no means proof of recovery. I do not pretend to know which direction the market will go, and I am not short in US stocks, but I will say I am maintaining a large cash position relative to my holdings.