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%.

An Historic Look At Bull and Bear Markets for Oil

Oil's low close of $50.48 on January 18th, 2007 seems decades away as prices are up 62% since then. With T. Boone Pickens forecasting $100 oil (thankfully not this year), we looked back at historical price moves for the commodity since 1986.

Bull and bear markets are defined as 20% moves. Notably, the average gain for oil in a bull market is 62.89% (we are up 62.32% right now); the average length of a bull market is 226 days (we are at 245 days right now).