The markets are bouncing today, but nothing has been resolved.

The technical damage from the last few weeks has been horrific. The two most heavily weighted sectors in the S&P 500 (Tech and Healthcare) are in confirmed downtrends.

Tech (XLK) has broken below its 50-DMA. It also as a sell on its weekly MACD.

It’s the same story for Healthcare (XLV).

These two sectors alone count for 40% of the S&P 500’s weighting. With both breaking down like this, the market is under significant duress. Throw in the fact that all but three sectors are in a similar situation, and we have some 85% of the market’s weighting in DOWNTRENDS.

This is the kind of environment in which fireworks can hit.

But is a crash about to hit?

To figure this out, I rely on certain key signals that flash before every market crash.