There goes your gains for the day, it already happened! Daytraders get left with pixie dust while the smart swing traders pick up the quick and easy 15 ES points overnight. This is classic bear market action, go down steadily and then comes a sharp rally out of the blue, usually overnight, followed by more steady down moves with a random spike here and there, rinse and repeat. There is no bottom here until the market reaches a point where value buyers come in to buy and refuse to sell until stocks go higher. We're nowhere close to that point. We're still not even close to 2006 lows, and the economy was a whole lot better then!