NOTE: There will be no weekly column next week. The U.S. stock market will be closed on Friday, April 15, Good Friday, a national holiday. 


Larry Summers, who can credibly claim to have been right from the start (regarding inflation), writes that the Fed’s current policy “is likely to lead to stagflation with … unemployment and inflation both averaging over 5% over the next few years – and ultimately to a major recession.” ­ William A. Galston, “How Will Inflation End?” Wall Street Journal, April 6, 2022. 

Modern Monetary Theory (MMT) is an economic theory that suggests that the government could simply create more money without consequence as it’s the issuer of the currency. – Melanie Lockert, “What is Modern Monetary Theory?”, October 6, 2021. 

It was fun while it lasted. But the party is over, and the punch bowl that had been filled and refilled by proponents of the now discredited Modern Monetary Theory has been emptied.

The passage of the triple conjunction between Venus, Mars, and Saturn, March 29-April 5, had a sobering effect on world stock markets last week. Reality (Saturn) began to sink in that inflation is not going to be subdued without aggressive monetary contraction (higher interest rates, reducing the Fed’s balance sheet).

Furthermore, the Russian war on Ukraine is not going to make the world’s supply chain of needed goods, like energy and food, flow any easier, which in turn exacerbates inflation worldwide. Forecasts of economic growth are fading rapidly, and the possibility of a recession is increasing. Against this backdrop, many world equity prices ended their impressive one-month rally on March 29, as Venus conjoined Saturn, and other indices continued to rally into early last week and then began retreating as Mars conjoined Saturn on April 5. At the same time, transiting Mars touched off the Mercury/Pluto square in the chart of the New York Stock Exchange (founded May 17, 1792) through April 7. In typical Mars/Saturn fashion, financial markets struggled to gain upside momentum the entire week, as the world itself struggled to resolve inflation and war conflicts.

Two markets that did somewhat well last week were Gold and grains. Gold was up a little over $20, and Corn, Soybeans, and Wheat were all higher. But these were not new highs, and may only corrective rallies that reflect both inflation and war worries. Crude Oil, Bitcoin, and Ethereum were also down in a mostly unremarkable week. Actually, last week was notable for Treasuries as the 10-Year U.S. Notes fell below 120 for the first time since December 2018. This is just another sign that liquidity is going to dry up as bank lending is apt to become more restrictive. Cash may soon become king once again as the days of zero interest rates have passed, consistent with the 32-37-year Saturn/Pluto cycle as described in the last two annual Forecast books.


The United Nations General Assembly voted Thursday to suspend Russia from the Human Rights Council. The U.N. vote was 93-24, more than the two-thirds majority needed… Evidence is building that Russia’s brutality is deliberate. The atrocities are increasing Western support for more sanctions on Russia and more weapons for Ukraine. – “When Russia Loses the U.N…” Wall Street Journal “Review and Outlook,” April 8, 2022.

“How we respond to Russia’s invasion will define the international order for years to come,” he (British Prime Minister Boris Johnson) said. “We cannot let Putin’s crimes go unpunished.” – Brie Stimson, “Boris Johnson Says German Chancellor is Determined to End Dependence on Russian Energy,” April 8, 2022. 

Last week witnessed the tense Mars/Saturn synodic cycle (conjunction) at 22° Aquarius, and in a square aspect to the Lunar Nodal axis in 24° Taurus/Scorpio. The combination formed a grand square to Pluto in Vladimir Putin’s natal chart at 22° Leo. With Pluto having dominion over such atrocities as coercion, brutality, torture, and murder, it was little wonder that calls for labeling Putin a “war criminal” gained widespread momentum following the images of mass murders of civilians in Bucha, Ukraine. The Kremlin denied these images as “staged” disinformation efforts by the West.

In classical astrology, Mars rules force, and Saturn rules resistance. Together they can indicate a time of immense energy spent trying to force a situation to change that refuses to budge. It can point to a difficult situation that coincides with frustration on both sides. It is offense (Mars) against defense (Saturn), resulting in a standoff.

The pendulum may begin to swing back to confidence this week as the cosmos transitions from the heavy emphasis on Saturn (worry and contraction) to Jupiter (optimism and expansion). This week finds the 14-year synodic (conjunction) cycle of Jupiter and Neptune taking place, in Pisces no less, which is the sign co-ruling both planets. The saying that “hope springs eternal” comes to mind, which means people always hope for the best even in the face of adversity. Without a doubt, there is plenty of adversity facing the world today. With Jupiter, there is always hope. With Neptune, there is also hope, but it works out favorably only if there is also trust, for Neptune (and Pisces) has a tendency to be naïve and vulnerable to deception. Nevertheless, world stock indices tend to perform well when there is the scent of hope.

As often stated in this column, Jupiter in aspect with Neptune can highlight periods of irrational exuberance and euphoria, or hysteria and panic. If the stock markets of the world continue to fall much lower, the hope that was generated in global equity markets for much of March may evaporate into panic in April. But let’s not plan on that, for just as Venus and Mars conjoined Saturn in the last 10 days, we will soon find Venus conjoining Jupiter and Neptune at the end of April. The difference between Saturn and Jupiter is like night and day. Hence, the difference in the psychology of the collective between March 29-April 7 and April 12-30 may be like a meager meal of potatoes versus a fine French cuisine dining adventure. One should make an effort to enjoy life to its fullest these next three weeks if possible.

Of course, with so much Jupiter (abundance) and Neptune in Pisces (water), the days may be filled with rainstorms and floods too, so make sure you have an umbrella (or small boat) on hand. Or for romantics, have a handkerchief in the event that you are moved to an outpouring of tears of compassion over random acts of kindness. Humanity is capable of miraculous expressions of care for one another this month.


NOTE 1: THE APRIL ISSUE OF THE MMA Monthly Cycles Report will be released this week! With Jupiter making its 14-year conjunction with Neptune this week, we are in a time band for intermediate-term cycles in many markets. We will examine which markets are most prone to reversals under the orb of this longest planetary pair cycle of 2022. Every issue provides MMA’s intermediate-term investors’ and near-term traders’ outlook for the U.S. stock market, Gold, Silver, Treasuries, Euro Currency, Crude Oil, and Soybeans. Each issue also contains MMA’s original geocosmic critical reversal dates (CRDs) and Solar/Lunar reversal dates over the next several weeks for DJIA, Gold, and Silver, complete with trading strategies for position traders during the next month. If you are not a subscriber to the monthly MMA Cycles Report and would like a copy of MMA’s outlook for financial markets, consider trying the April issue for only $35. 

NOTE 2: TUNE INTO MMA’s NEW WEEKLY YouTube Channel on the geocosmic climate related to financial markets hosted by MMTA Educational Director Gianni di Poce. The video is recorded late Friday night and posted then or early Saturday, depending on the editing process. These 5-10 minute video presentations review the market activity of the past week and offer a preview of the geocosmic signatures in effect for the next week and beyond. You may subscribe to MMA’s YouTube Channel today at no cost and get announcements when each geocosmic market review is ready for viewing! To view this week’s show, click here.

“Just a quick word to say your (Gianni’s) weekly video on YouTube is really a great complementary format to Ray’s letter. I find it interesting and masterfully delivered. Thanks to both of you for this!” M.K., Paris, France, Portfolio Manager.

NOTE 3: The interview with Ray Merriman hosted by Antonia Langsdorf live, on Wednesday, March 29 on her “Cosmic Vibe” program, is now available for viewing free on our YouTube station. To view it, click here. The subject was the “Russian-Ukraine War: Now and In the Future.” The interview was in English, and it was also translated into German for both her and our German-speaking audience.


MAY 8, 2022: MMA’S ANNUAL FINANCIAL MARKETS UPDATE WILL TAKE PLACE MAY 8, 2022, 1:30 PM EDT: This broadcast will take place on Sunday, May 8, 2022 at 1:30 PM EDT (that’s 10:30 AM PDT, 6:30 PM UK, 7:30 PM CDT. 2:30 AM Tokyo, 3:30 AM Sydney). In the comfort of your own home or office, you can tune into MMA’s Annual Spring Webinar on Financial Markets. This 3-hour webinar (with two 5-minutes breaks) will give an intermediate-term update on several financial markets, including the U.S. stock market, Gold, Silver, Crude Oil, the Euro currency, Bitcoin and Soybeans. This will be an especially timely presentation because 1) the 12-year Jupiter orbital cycle will be making its first entrance into Aries on May 10, and 2) May 27-June 22 has been highlighted as one of the more probable times in 2022 for major moves in Bitcoin as well as several other financial markets. Joining Ray to share their outlook will be Ulric Aspegrén (Euro, U.S. Dollar) and Gianni Di Poce (U.S. Treasuries, Crude Oil and Soybeans). Ray will be covering equities, metals, and Bitcoin. There will be a Q&A with attendees during this webinar. The cost to attend is $55.00 and includes the slides of the presentation, plus access to the video recording of the event. If unable to attend live, you can still sign up, as everyone who orders the Webinar will receive the video recording following the live event. For more information, click here and SIGN UP NOW TO LOCK IN YOUR PLACE for this event! 

AUGUST 25, 2022: 1:00 PM, Denver, CO, ISAR Conference, 4-Hour Pre-Conference Workshop by Raymond Merriman on “ASTROLOGY AND THE ART OF FINANCIAL MARKET TIMING: HOW TO FORECAST TRENDS AND MARKET REVERSALS.” Financial markets offer objective means to test astrological validity. The Moon changes signs every 2-3 days and is valuable for short-term trading. Planetary stations and aspects identify longer-term market reversals. Approximately 4-5 times/year, markets will form important highs or lows, which are the most favorable times to buy and sell for position traders. This course provides research studies showing the correlation of astrological factors to short-term and longer-term financial markets. The focus will be on stock markets, precious metals (Gold and Silver), and Bitcoin, and how to integrate astrology with cycle studies to attain optimal market timing skills. Visit for further information and register for a great event! 

Disclaimer and statement of purpose: The purpose of this column is not to forecast the future movement of various financial markets. However, that is the purpose of the MMA (Merriman Market Analyst) subscription services. This column is not a subscription service. It is a free service, except in those cases where a fee may be assessed to cover the cost of translating this column from English into a non-English language. This weekly report is written with the intent to educate the reader on the relationship between astrological factors and collective human activities as they are happening. In this regard, this report will often cite what happened in various stock and financial markets throughout the world in the past week and discuss that movement in light of the geocosmic signatures that were in effect. It will then identify the geocosmic factors that will be in effect in the next week, or even month, or even years, and the author’s understanding of how these signatures may affect human activity in the times to come. The author (Merriman) will do this from the perspective of a cycles’ analyst looking at the military, political, economic, and even financial markets of the world. It is possible that some forecasts will be made based on these factors. However, the primary goal is to both educate and alert the reader as to the psychological climate we are in from an astrological perspective. The hope is that it will help the reader understand the psychological dynamics that underlie (or coincide with) the news events and their potential effect on financial markets.  

No guarantee as to the accuracy of this report is being made here. Any decisions in financial markets are solely the responsibility of the reader, and neither the author nor the publishers of this column assume any responsibility whatsoever for anyone’s trading or investment decisions. Readers of this report should understand that commodity futures and options trading are considered high risk.