It's a tricky and complicated market. Some stocks are way ahead with their capitulation (AEG one of them imo and I hope the indices and AEG stock price may diverge if the bottom on the dow, S&P isn't in yet).
Look at EDS, that stock capitulated today. I think the market won't capitulate as a whole but stocks get pounded individually. AEG lost 30 % in a week, that's just too gross.