Energy Sector Up 8 Straight Days For First Time In 8 Years

The S&P 500 Energy sector is up eight consecutive days dating back to September 10th. Over this time, the sector is up 7.11%. Since 1990, the sector has only had 7 streaks of at least 8 consecutive up days, with the most recent occurring in November 1999.

The sector has actually gone up on the ninth day 4 of the 7 times for an average change of 0.16%. Over the next week, however, the sector has averaged a decline of 1.33%. We also measured the performance of oil (the commodity) in the week following an 8 day winning streak in the Energy sector. Crude actually has gone higher over the next week 5 of 7 times for an average gain of 0.96%.

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Comments

[David Lentz]

I suspect that nearly ALL commodities have had a recent upstreak and are likely to continue doing so -- it's not normally the case the we have the Fed so vigorously acting to destroy the dollar. No surprises that oil, which has its own market (and non-market) forces pushing it higher, should be leading the oil sector higher. But then, since energy and food are not part of the "core" CPI, there's no "official" inflation. The emperor has no clothes.