The markets sold off into the close on Thursday as technology stocks and energy names saw more weakness. Tech stocks have been a focus lately as they have seen some strong moves to the downside. The reason this continues to weigh on the markets is the fact that only a few names have really supported the overall markets.

If we look closely at the financial sector which makes up over 30% of the S&P 500 you will see very little movement in price all year long. In fact, until just two weeks ago the financials (XLF  ) was almost flat on the year, spending the first six months hovering above and below the 0% line. How can the S&P 500 (SPY  ) be up over 8% while a third of the market hasn't supported the move? How can the Nasdaq 100 (QQQ  ) be up over 20% with very little Nasdaq names supporting the move?

Have you ever heard of the "FANG" stocks? Basically, those few names Facebook (FB  ), Amazon (AMZN  ), Netflix (NFLX  ), and Alphabet (GOOGL  ), along with a few others had really supported the move. An acronym that was created by a CNBC TV personality fueled a buying spree that caused money to move out of other sectors and into these names. In short, the masses were chasing performance.

As does everything, it comes to an end. Now I'm not saying that the bull ride is over, but for the past few weeks we have seen strong profit taking in these names which has caused everyone to wonder why the markets are at these prices. If the names that have supported this recent move are no longer strong then what's left? Not much at this point.

Though this article is not all that upbeat, there is a silver lining. If you are a bull then you love this pullback. It gives you even more discount to buy in at. If you're a pessimist and you are short then you are thinking this is the beginning of the end and you are happy too. Either way most investors should be happy that the market is doing something other than going straight up.