Will energy break out as the Market tops?

During October of 2007 the stock market started showing signs of weakness as the banking sector started rolling over. But something strange happened - energy and oil kept riding higher and higher. Even as the S&P was off almost 20% and officially in bear territory - oil was going parabolic. Now as is said, history doesn't often repeat but sometimes rhymes, it should be noted that the energy sector has just broke above it's all time highs from previous (the general market did so almost a year ago). And lately the general market has been acting a little strange and the Momo stock darlings have been getting sold hard. It seems a fairly low risk trade at this point would be to go long energy and short the market. I think its low risk because if the market continues higher, energy should too, so the short trade should not hurt too much, and if the market does fall from its graces, and energy does too, that would be offset. The risk is that the market moves higher and energy declines. I don't see it happening that way. So I will be setting up that trade early next week. I will be adding to ESTE (my favorite cheap Bakken play) and perhaps finding some others.
Disclosure: Long ESTE (may buy or sell at any time)