I would hardly call any of them in a down trend at this point of time.
There is the primary trend which is up, then there is the secondary trend which is showing a correction.
To the original poster: To get a true reflection of market cap TNT Vs VOR you need to do some adjustment due to the amount of shares on issue on issue with TNT, they really should do a consolidation which would then give a better comparison. TNT is being quite aggressive in growth where as VOR has been asleep in this field. I did hold VOR myself but decided the director flipping out the back door was the last straw.