3 Reasons Why Stocks Are Down Today

The Technology Select Sector SPDR Fund XLK, Health Care Select Sector SPDR Fund XLV, and the Financial Select Sector SPDR Fund XLF are all showing signs of weakness early in Wednesday's trading session.

The S&P 500 Index consists of 11 sectors. Sometimes, insight into the future direction of the index can be gained by analyzing them individually.

At 27.2%, the technology sector is the biggest part of the S&P 500. The technology ETF, which tracks the sector, broke its recent uptrend Tuesday.

This means the sellers have overpowered the buyers and they could continue to push XLK lower.

The second biggest part of the index at 13% is health care.

It has been one of the leading drivers of the recent market rally, but now the sector is very overbought. This will bring sellers into the market and they could put a top on it and possibly push it lower.

Like the technology sector, the financial sector has also broken its recent uptrend. This sector is about 11% of the overall market.

The buyers have been in control over the past three weeks, but a break of the uptrend line could illustrate that the bears are about to takeover.

They could drive this sector of the market lower.