By Brett Eversole
The winner that everyone watched in 2022 was the energy sector.
It was the only sector that was up more than 10% last year... And it was up a lot more than that. Energy soared 66% overall.
The uptrend slowed down this year, though. The sector has been down for much of 2023. But now, a reversal is underway.
A specific segment of the energy sector recently rallied for eight straight days. That's a rare setup... It has only happened eight other times since 2006. And it means we should be paying attention, according to history.
That's because rallies tend to continue after this kind of streak happens. In fact, this move could lead to double-digit gains over the next year.
Let me explain...
The energy sector includes all kinds of companies. It's a smorgasbord of the majors like ExxonMobil, oil-services companies, pipeline companies, and more.