A Noir-ish Feel to the Rally in Crude

While crude oil gapped up this morning (and faded a bit off the highs as I write this), energy stocks remain suspiciously soft as a whole.

Specifically, the likes of CHK is reversing down, and, more importantly, the XLE (energy sector ETF) is actually flirting with a breakdown from a long, sideways range. 

This type of action reinforces the choppy nature of the market of late, amid a plethora of earnings blow-ups this season. One of the latest, GRPN, blatantly ignored prior $6.61 lows and is knifing down as we speak. 

After a snapback rally to start the month, May has a noir-ish feel to it already. 

Note that TSLA and PCLN, two leaders reporting imminently, could turn the tide of market character.