Was looking on a daily chart of the net tick distributions and it almost looks like smart money may have been exiting in the last 3 weeks by the distribution of lower lows of down ticks and lower highs. (Ignore the red candle on the chart it represents the current day and will end upgreen like the rest. But just look at the trend lines and the distribution of the chart. Looks like dow ticks have made lower lows. It might not matter that much but interesting observation. Your thoughts...
for me it looks more like a triangle than a downtrend. Stocks are in a tight pressure zone and there is no much movement. The calm before a storm..