Get ready – because the best of times are over and the worst of times may have just begun.
That is the assessment of a Florida mathematician who has studied the biblical Shemitah cycle as it applies to the financial markets.
Thomas Pound is an educator and mathematician who applies his statistical wizardry to the markets.
The Dow fell another 468 points, or 3 percent, Tuesday, providing fresh evidence for investors the sell-off which began in August was no mirage. It is likely to continue in September.
Only eight more trading days remain until the dreaded Elul 29, which is the final day of the Shemitah year, known as “wipe out day” on the Hebrew calendar.
Since Elul 29 falls on a Sunday, Sept. 13, when the markets are closed, the rest of this week and the following week could bring the most devastating losses. Another theory is that the period of Sept. 14-28 right after Elul 29 and leading up to a scheduled blood moon (on Sept. 27-28) could be worth watching.