I have a 40000 gal in ground gunite pool. It was completely redone incl all plumbing in 2005. This morning I went out to fine no pressure on my 2 sand filters and the water level be;ow the skimmers. Approx 5 inches of water have drained. Not visible leaks or quantity of water visible>>>>> HELP I am sinking here!!

You could have leaks around the return lines, a automatic pool cleaner line, or even around the light. What is the lowest the water has gotten? Who is the pool builder? Anthony, sylvan, blue haven? What you should do is go down to your local pool store and buy a leak locating dye kit. It should be something like a syringe with a long skinny tube filled with a dark liquid. Then hang over the side of the pool and gently squirt dye around the return lines and pool cleaner line one at a time. If the dye disappears / gets sucked in then that means a leak is there. Check around all ports then remove the light and check around the light niche and conduit in the back of the niche where the light cord goes in(if that doesn't have any silicone now would be a good time to squirt some in there) check around the hydro stat plugs and main drain and any place in the pool that looks suspicious. If you do not find any leaks then the next step is to pressure test the plumbing. Let me know if you need any further advice.

And shut off your pumps and equipment until the problem is resolved so you do not damage the equipment.