It was just one of several US stock market charts included in an NFTRH update this morning, but it is a telling one none the less. NDX floats along unbroken, while the riff raff in the lower panels are in intermediate downtrends.
We have followed the DJINET all along on its bullish path. Internets are doing the heavy lifting for the NDX these days (ref. AMZN, GOOGL NFTRH+ trades that I of course exited too soon). There are many other time frames and angles from which the market needs to be looked at in gauging the probabilities going forward, but this one is not a good one. It is a thinned out market showing players trying to hide out in fewer and fewer winners.