I sold XBI today after it broke lower and XLF mid last week. I am not excited about the indexes stalling out here when previously we moved higher like post Trump, Feb. We got a pop after the French election but absolutely no follow through. This is concerning. SPY/ DIA stalled at previous highs and IWM made a nice move but has slowed down. The only index which is definitively bullish is tech.
Overall markets aside, I would continue to be very bullish on energy but I don't like the seasonality ahead combined with the indexes slowing down. Generally I will be increasing cash position and maybe lightening up energy depending on how things go.