Clarification on disqualification

[adambrich]

I am currently at a high school basketball tournament and attended a game where the foul calls were extremely slanted. This resulted in 5 of the 9 players on the team fouling out. I thought that if that many people fouled out, a technical was issued and 5 players were allowed to remain on the court. The refferee made the team play with 4 players. Was this the correct call according to NFHS guidelines?