Using history to predict the near future is a sketchy thing at best. But recently there has been a lot of discussion about the scary similarities between the year leading up to the 1929 stock market crash and today’s market.
That at least is the conclusion reached by a frightening chart that has been making the rounds on Wall Street. The chart superimposes the market’s recent performance on top of a plot of its gyrations in 1928 and 1929.
The picture isn’t pretty. And it’s not as easy as you might think to wriggle out from underneath the bearish significance of this chart.
The market over the last two months has continued to more or less closely follow the 1928-29 pattern outlined in that two-months-ago chart. If this correlation continues, the market faces a particularly rough period later this month and in early March. (See chart, courtesy of Tom McClellan of the McClellan Market Report; he in turn gives credit to Tom DeMark, a noted technical analyst who is the founder and CEO of DeMark Analytics.)
Christians should not put their hope in the stock market or anything else but the Lord. That said, there are always corrections in the market. The Lord has used the stock market in the recent past to gain our attention. In 2008, the market lost 7% of it’s value when it dropped 777 points in one day on the 29 of September. The last time it lost 7% of it’s value was 7 years prior, just after 9/11. Both days fell on the same day on the Hebrew calendar, Elul 29 the end of the Shemitah year that occurs every seven years going into Rosh Hashanah.
What makes this interesting to me is that this April, when the crash seems ready to occur, will be Passover. This year’s Passover will have a blood moon associated with it, the first of four over the next two years associated with a biblical feast day.
What should we take from this? The Lord is still warning us. The question is do we have ears to hear what the Spirit is saying to the church.