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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex

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* If the dots don't connect, gather more dots until they do...or, just follow the $$$...





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Saturday, October 15, 2022

BlackRock's Parabolic Plunge

* See UPDATES below...

The following monthly chart of BlackRock Inc. (BLK) shows that it has had difficulty sustaining gains above 400.00, when it broke above that level in April 2017...from a base that began to form in October 2013 at 300.00.

It hit a high of 973.16 in November 2021, before plummeting to a low of 504.64, so far, this month.

As of this week's close, BLK is down by 41.80% from its record high.

Apparently, the company is ready to invest in U.S. energy pipelines, once those projects are green-lit by the Biden government...expanding its holdings beyond ESG-aligned investments.

It seems like those "Environmental Social Governance" investments haven't been so profitable for BlackRock's shareholders, after all...since many are withdrawing their funds from their management.

Until the US Fed is finished raising interest rates to combat 40-year high inflation, and until the Biden administration is ready to reverse its devastating war against fossil fuelsBLK will, no doubt, experience further pain and losses, along with the US equity market, in general, as described in my post of October 14.

BLK may retest 500.00, or even drop further to 400.00...or lower, yet.

Oilprice excerpt

Oilprice excerpt

ZeroHedge excerpt

N.B. The following monthly charts of XLF plus 9 major banks, including BLK, depict all of their struggles, particularly this year. (I initially warned about bank bubbles bursting on April 10, 2021.)

I've also included CS and DB...about which I've recently written here, inasmuch as they have their own issues.

The following four graphs depict percentages gained/lost over several different time periods.

Overall (apart from CS), BLK has lost the most, on a percentage basis, over three of the four timeframes. It was flat this past week.

Its comparative weakness is notable and may hint of some underlying problem that hasn't surfaced...yet. 

One to keep an eye on over the coming weeks/months.

Nov. 12, 2021 to Oct. 14, 2022


One Month

One Week

* UPDATE Nov. 5...

Keep an eye on the banks (over-leveraged) mentioned in the following article, and above, for signs of accelerating weakness to signal more downside for equities and bonds...assuming global Central Bankers continue to raise rates and with their QT program, to combat out-of-control inflation.

I wonder how Americans would feel about another major bank bailout, as a repeat of what transpired in 2009? 😕

ZeroHedge excerpt (CONCLUSION)

Monthly Comparison chart of 
Deutsche Bank & US 10-Year Yields

Monthly Comparison chart of 
BlackRock Inc. & US 10-Year Yields

* UPDATE Nov. 5...

The implementation of ESG criteria by companies may be illegal...for several reasons...

ZeroHedge excerpt

* UPDATE Dec. 1...

BlackRock ditches ESG fund...due to "lack of interest, amid poor performance."

I guess the penny has finally dropped. 😕

* UPDATE Dec. 2...

Important Twitter thread on ESG and Blackrock...

* UPDATE Dec. 9...

BlackRock's forecast for 2023 is rather dire...

* UPDATE March 31, 2023...

Reality about the viability and legality of ESG-related rules for companies in which they invest, is beginning to set in on investment firms, such as BlackRock, as detailed in the following ZeroHedge report.

* UPDATE May 1...

The following article is 'illuminating'...remember SIFI (pertaining to BlackRock) in the days/weeks ahead...

ZeroHedge excerpt

Following the latest 'dead-cat-bounce,' a drop and hold below 600 could see BLK retest 400, or lower, as I mentioned at the outset, as shown on the following monthly chart.