The next 10 days or so look pretty rough for being the climatological peak of chase season. It's tough to think of any year where the latter half of May was relatively quiet that still managed to be a banner season; nevermind one in which very little had happened before that, either. At this point, I'm beginning to think a June 2005 or 2009 type comeback is pretty close to the best outcome we can realistically hope for, which would still make this a mediocre season overall (at best). Realistically, predictability beyond a week has been awful so far this spring, so it's not out of the question such a comeback could begin at the very end of May (even though I don't see much evidence in favor for now).
Depending on which model solution you buy, this period still doesn't look quite as awful as it was in years like 2006 and 2009. There should still be some convection, but deep-layer shear sufficient for supercells may be at a premium, and doubly so for tornado ingredients. Moisture continues to be an issue early next week, potentially limiting or eliminating convection on days where shear is actually decent.
If there's any silver lining whatsoever, the GFS, CMC and ECMWF all indicate fairly widespread, significant rains over the southern High Plains around the end of next week. If that verifies, perhaps the short-term drought could be less of a factor should we be lucky enough to get a few setups there in June.