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

Includes: IYE, XLE
by: Bespoke Investment Group

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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