Hesitation Before Summer

On the back of XOM earnings, the energy sector ETF, XLE, is paying a bit at prior multi-month highs, seen on the daily chart, below. I am watching that $82.60 level to see if bulls can convincingly leave it behind into May and the summer months beyond. For now, the prior highs continue to cause at least some hesitation up here. 

Elsewhere, in an otherwise sluggish tape this morning TASR is moving higher in its strong overall uptrend, with $30 the next hurdle to close over. 

And a stock like VA, attempting to rally multiple times in recent weeks but fading, is a good example of why selling into strength in downtrending charts is usually correct.