Who is ready to talk some Shemitah or Shmita? Now is when about half of you are either nodding or shaking your head and the other half are wondering if I just sneezed or what in the world did I just say.
Shemitah is the 7th year of the 7 year agricultural cycle where God commanded the Israelites to let the land rest.
Leviticus 25:3&4 “Six years you shall sow your field, and six years you shall prune your vineyard and gather in its crop, but during the seventh year the land shall have a sabbath rest, a sabbath to the LORD; you shall not sow your field nor prune your vineyard.”
We are actually in a Shemitah year right now. They usually start and end in September and this year’s Shemitah officially ends September 13th. Now, what does this have to do with the stock market? More than you might think. The last Shemitah ended on September 28, 2008. That date should ring a bell with most stock traders. It’s the day the Dow crashed 777 points, a 9% drop. The Shemitah before that ended September 17th 2001 when the markets reopened after the September 11th attacks and crashed 7%. During the 1994 Shemitah year the bond market crashed. In 1987 the stock market crashed. I’ll stop there since you have the idea but several other major economic upsets have happened during Shemitah. So will the market crash again on the last day of Shemitah, September 13th?
No. Absolutely not. Not a chance….it’s a Sunday 🙂
Could it crash sometime in September? We’ll just have to see.
But how ’bout you? Do you think we’re in for another crash this September similar to the end of the last two Shemitahs? It’s definitely interesting.
For further reading check out these links: