The year before that, it didn't bottom until October, and October of 1998 was particularly nasty. Right now it seems like we're not done selling. But the thing about bottoms is that they seem to hit when things look their worst. So I wouldn't want to look like a dumbass and be definite here. Besides, I'm supposed to be a trader and traders have to change their positions all the time based on new information.
Skilled traders know what's coming before it hits, so they anticipate instead of react.
I still react a lot. Stocks just look plain saggy right now. Gas prices are high, utility stocks are hitting new highs, techs and retail are getting hit. I very much doubt it. While it's true people are being more discriminating now, they will still pour money into the newest hype stocks.