The important energy sector has been declining lower since February 24, 2012. Traders can easily see how the Energy Select Sector SPDR (ETF) (NYSEARCA:XLE) has rolled over since that time. The XLE is now trading below the important daily chart 50 moving average. This formation puts the XLE in a weak technical chart position.

This morning, the leading integrated energy stocks have pulled back from the opening highs. Traders must remember that the energy sector accounts for roughly 15.0 percent of the S&P 500 Index. The leading energy stock in the world is Exxon Mobil Corp (NYSE:XOM). This stock was trading as high as $84.50 just after the opening bell rang at the New York Stock Exchange.

The leading integrated energy stocks are all coming under some early selling pressure this morning. Exxon Mobil Corp (NYSE:XOM) is now the second largest company by market capitalization behind Apple Inc (NASDAQ:AAPL). This leading energy stock is trading lower by $1.00 to $86.17 a share.

This morning, all of the leading energy stocks are coming under some selling pressure. Leading stocks such as Exxon Mobil Corp (NYSE:XOM), and Chevron Corp (NYSE:CVS) have been exceptionally strong as of late, therefore, a pullback today is due. These market leaders are trading lower today by over 1.0 percent.