Rosh Hashanah Effect
“Sell on Rosh Hashanah, Buy on Yom Kippur”
A famous Wall Street adage suggesting that the stock market tends to weaken during the 10-day period from Rosh Hashanah (Jewish New Year) to Yom Kippur (Day of Atonement). Explore this intriguing seasonal pattern observed since 1987.
2026 Jewish Holiday Schedule
Rosh Hashanah
2026년 9월 11일 금요일
Jewish New Year. Traditionally considered a sell signal for markets
Yom Kippur
2026년 9월 21일 월요일
Day of Atonement. Traditionally considered a buy signal for markets
Holiday period info
Period: A 10-day holiday period. Historically, markets have tended to show weakness during this time.
Jewish Holiday Calendar
Jewish Holiday Calendar
2026 Mar
Legend
Trading strategy
3-step investment framework
Sell before Rosh Hashanah
Sell holdings before the start of the New Year (Rosh Hashanah)
Watch the market
Observe market trends and wait during the holiday period
Buy after Yom Kippur
Buy back stocks after the Day of Atonement (Yom Kippur) ends
Historical background
The Rosh Hashanah effect is a seasonal pattern observed on Wall Street since 1987, in which the stock market tends to weaken during the major Jewish holiday period.
📈 1987 - First observation
The pattern of declining stock returns during the holiday period was first systematically recorded.
📊 2000s - Academic research
Research on this phenomenon was published in several finance journals.
🔄 Present - Ongoing observation
An interesting market anomaly still observed every year.
Analysis methodology
We analyze holiday-period performance of major ETFs (SPY, QQQ, DIA) and compare historical patterns with current trends.
📅 Holiday period definition
The 10-day period from the first day of Rosh Hashanah through Yom Kippur
📊 Return calculation
Track daily and cumulative returns during the holiday period
🔍 Pattern analysis
Statistical significance over the past 30 years of data