Sailing into slightly choppy waters a look at a few key financial charts.
Bank of America’s shares have risen sharply this year. They are cutting back sharply getting rid of real estate and trimming $8 billion in annual expenses. Sales last year of $33 billion in assets boosted its equity, helping it to absorb any unexpected losses.
There are three charts for Bank of America and all of them showed up the 2008/09 debacle well – 17 October 1904, 1 May 1927, I October 1998.
All three charts are showing a substantial amount of pressure this year no doubt due in part to the massive reorganisation - with some anxiety. There are some moments of cheer as well. Two of them show 2014 as a time of major setbacks.
This fits with CEO Brian Moynihan’s personal and CEO charts. He was made CEO 1 January 2010 and that indicates major challenges and some upheavals this year – with a more than a hint of over confidence leading to disappointment. Where that chart starts to run into major problems is 2013/14 with tr Pluto and tr Uranus in hard aspect to the 10 degree Libra Sun with financial setbacks in 2014, worsening considerably in 2015.
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His own personal chart, 9 Oct 1959, also has the finance-high-hopes write large across it this year with some dashed dreams following – that picks up from February this year. His nadir comes in 2015 or maybe just before with Solar Arc Neptune conjunct Saturn and Solar Arc Uranus conjunct his Libra Sun which is by 2015 sagging under the tr Pluto square and tr Uranus opposition.
Citigroup recently failed the Federal Reserve Bank stress test. Both possible charts for it are certainly showing stress this year. The 16 June 1812 chart has a Mars in Cancer opposition Saturn in Capricorn at 7 and 5 degrees Cardinal. This rather rigid opposition is being seriously challenged this year by transiting Pluto opposition Mars (July/Aug, Oct/Nov 2012)bringing major setbacks and a jolting tr Uranus square Saturn (now and Oct/Nov 2012) and a highly insecure tr Uranus square Mars (mid August to mid September 2012 and into 2013 as well). With a very blocked Solar Arc Pluto coming up to square Mars in 2013 and an accident-prone Solar Arc Saturn opposing Mars by 2014. So not an easy time ahead though what might pull them out of the soup is their Jupiter at 12 degrees Cancer which picks up lucky breaks from tr Uranus in 2013 and confidence from tr Pluto in 2014.
The other Citi chart, 8 Oct 1998, is depressed this year and facing its’ most pressured period of probably reconstruction come mid decade.
CEO Vikram Pandit, 14 January 1957, is in a mood for a gamble this year but isn’t making the progress he would like. His CEO chart, 11 Dec 2007, is ultra-confident at the best of times but is labouring mightily with tr Pluto trine Saturn and opposition Mars from June right through till 2013. And a jolting tr Uranus square Mars in July/Aug, Oct/Nov this year.
It may be coincidence but across the water in the Eurozone’s ailing economy which is sending ripples of fear back into the USA – one sneezes the other catches cold – there are signs of mounting problems around similar dates from June onwards. Spain is the latest horror and it unlike Greece is too big to bail and too big to fail. The Bank of Spain’s chart, 2 June 1872, indicates this June as an all-time low with its’ Mars in Cancer opposed by Pluto and squared by Uranus. And those hugely disruptive and destructive influences run on right through into 2013.
Relations between the EU and USA continue on a very bumpy path for the next three or four years so there’s not going to be good news winging its way back from Europe anytime soon.
Greetings! My name is Jo-Anne Penn-Kast, but you can call me Jo. I’m not a psychic (I don’t think), nor a mystical guru, and I don’t do card tricks. In fact, I’m more than usually ordinary. But I do know some extraordinary... read more