Its not just the futures its a combination of the size of the futures, the dalily drops and the kind of %age drops of some stocks, the reaction to good news. Maybe some sell the news factor in all this and just returning to the usual sell the news prectice but all of this combined reminds me too much of the bear days to ignore it.
If we get an up day tomorrow I would rethink but if it is down I would guess the buying has dried up for the moment and that could cause a nasty drop till some more buyers appear.
Funny to think that in the loast three years as Americans lost more net worth than at any time before the Russians just increase their net worth relentlessly.