You’d think on a day when more than $800 billion was erased from U.S. stocks, everyone would rush for exit. They didn’t, at least going by flows in exchange-traded funds.

ETFs focused on American equities attracted about $2 billion on Wednesday, despite the market’s worst day in eight months. SPDR S&P 500 ETF Trust, the biggest ETF tracking the benchmark index, dominated the inflows, drawing $2.5 billion, according to data compiled by Bloomberg.

The data showed dip buying is still alive, even though it’s not strong enough to stem the broad equity selloff. For whose who are looking for signs of a market bottom, it’s another indication that bulls have yet to capitulate and the rout may have further to go.

“We don’t think the stock market pain is over just yet,” said Christopher Harvey, head of equity strategy at Wells Fargo. “It probably gets worse before it gets better so keep the powder dry. We think there’s better buying opportunities ahead.”

October flows have stayed positive even as the S&P 500 heads for its worst month since early 2016. During the rout earlier this year, ETFs suffered withdrawals totaling more than $30 billion in February and March.

The S&P 500 is steadying this morning after a five-day slide left it 5 percent below the record high set just three weeks ago.