Have Traders Called It Quits on Irrational Stock Market?

Let's start with the good news since it's been in rather short supply as of late in Marketland. The Dow (INDEXDJX:.DJI), S&P 500 (INDEXSP:.INX) and Nasdaq (INDEXNASDAQ:.IXIC) bounced back from their latest NCE (Near Correction Experience), leaving the first two close to their all-time highs and the third back in mountain-climbing mode. That said, where has all the volume gone?