MMA FREE WEEKLY COLUMN FOR THE WEEK BEGINNING FEBRUARY 2, 2025

REVIEW

By Ray Merriman

 Stocks fell, silver and gold plunged, and the dollar strengthened after investors finally learned President Trump’s pick to run the Federal Reserve: former Fed governor-turned-critic Kevin Warsh. Some market participants see Warsh as a relatively safe option, given his Fed experience and his track record as an inflation hawk, or supporter of tight monetary policy. That could make him more resistant to calls from the administration to slash interest rates, a prospect that helped the dollar and hammered precious metals on Friday.

— Market Coverage Live, The Wall Street Journal, January 30, 2026, www.wsj.com.

What we try to keep out of our existence is chaos, which is a very real part of our lives. Our refusal to accept chaos as integral to our existence has been one of the greatest mistakes we have made as a civilization.

— David Bowie, quoted in Moonage Daydream, directed by Brett Morgen (2022), Netflix.

 Those solar/lunar, air-air, combinations struck again last week.

Stunning and unbelievable best describe what happened Thursday and Friday in Gold and Silver. After attaining a new all-time high on January 26 at $117.70 in the March futures contract, Silver snapped. By the end of the day, it had fallen to 101.70, or $16. I don’t think Silver had ever fallen $16 from its high to its low on the same day before. But that didn’t stop it from soaring to another new ATH (all-time high) just three days later, January 29, of 121.70 as we entered the middle of a solar-lunar, air-air combination. We had just issued a post on our new “MMA Daily Options Report with Derek,” as well as our ‘X’ community, alerting readers to the history of air-air combos with highs often occurring with the Moon in the first half of the Gemini, followed by sharp declines 1-5 days later. By Friday, January 30, one day later, Silver was down over $47, testing the $74 mark.

The drama was equally staggering in Gold, which also posted a new ATH of $5626.80 on Thursday’s solar/lunar, air-air combo. By Friday, it was down almost $1,000, testing $4,700.

Other markets also got hammered as the Sun in Aquarius season began, January 20-February 18. Uranus, the planet of disruptions and sudden changes, rules Aquarius. More on this later. Bitcoin, for example, fell sharply from a major cycle crest at 97,866 on January 14 to test its yearly low just above 80,000 on Friday, January 31. Ethereum also tested its November low of 2628 when it fell to 2636 on January 30.

Compared with commodities, global stock indices held up fairly well. In Asia and the Pacific Rim, the Hang Seng Index in Hong Kong was the standout performer, soaring to 28,056 on Friday, January 30, its highest level since July 2021. No other markets in the region made new all-time highs last week, and only India’s NIFTY Index fell hard, testing its lowest mark in 16 weeks after forming its ATH earlier in January.

In Europe, the Netherlands’ AEX posted a new ATH on January 28. The other markets in the region had put in their ATH’s January 13-16, so there is now a case of intermarket bearish divergence as each started a pullback by the end of last week.

In the Americas, the story was similar. Brazil’s Bovespa and the S&P of the U.S. made new ATHs last week, but these were not matched by either the DJIA or NASDAQ. The high in the DJIA remains 49,633 on January 12, right in the center of the geocosmic CRD that included the Sun/Mars conjunction in opposition to Jupiter. As reported in this column at the time, these factors have a high correlation to sharp declines from highs in the DJIA. In the case of Sun/Mars, these declines can drop 8% or more. It’s nowhere near that yet, but there is still time while the Sun and Mars are within 10 degrees of one another through much of February.

 SHORT-TERM GEOCOSMICS

 Ray Dalio just said the quiet part out loud: “If you depreciate the money, it makes everything look like it’s going up.” The stock market boom is a lie … We are witnessing the death of the dollar, not the growth of the economy. 99% of people have no idea.

• Barkmeta (@Bark), posted on X, January 27, 2026.

In Trump’s view, a strong dollar, like higher interest rates, interferes with his priorities: faster growth, reshored manufacturing, and a smaller trade deficit … Trump’s trade wars and threat to annex Greenland, a semiautonomous territory of Denmark and a military ally, and his demands that the Fed bend to his political priorities, have shaken confidence in international relations and U.S. institutions. Investors have responded by trying to reduce exposure to the dollar without reducing exposure to U.S. stocks.

—Greg Ip, “A Weaker Dollar Fits Trump’s Plan,” The Wall Street Journal, January 30, 2026.

Previously, readers of this column were alerted to the possibility of 1000-point down days in the DJIA between January and March 2026. It’s a seasonal pattern under President Trump for some reason. This possibility may be heightened with the Sun in Aquarius, which will be particularly strong this year with Uranus turning direct on February 3-8, while forming a square aspect to Venus. This period also includes the next air-air, solar/lunar combo days of February 5-6. And then, the Aquarius season ends with a solar eclipse square Uranus (on President Donald Trump’s Descendant and opposite his Mars/Ascendant in Leo).

With Aquarius and its ruler, Uranus, both highlighted, chaos and disruption will likely be the norm again. Under Uranus, there is an equal chance of a sharp breakdown in many markets, or a sharp rally to new all-time highs, or both, as was witnessed last week in Gold and Silver. Stocks and other financial markets could follow the same path in the next three weeks.

The chaos in financial markets reflects the chaos in global leadership, both politically and in the banking sector. You can see that chaos erupting (Uranus highlighted) as the president has made it very clear that he wants lower interest rates, but announced today that he intends to nominate a new Fed Chair with a reputation as a hawk in fighting inflation. But it goes deeper than that. The president, obsessed with his favorite weapon of tariffs, needs lower interest rates to buffer the potential inflationary threat of tariffs. If tariffs force U.S. companies to pay more to import parts and goods, that additional cost (inflationary for U.S. businesses and eventually consumers) can be reduced for foreign buyers through a lower dollar, which itself declines in value due to lower interest rates. As the current Fed Chair has voiced many times, the reason he won’t support lower interest rates yet is because of the unknown effect and unstable policy of higher tariff rates.

It makes one wonder: wouldn’t it have been simpler to just not wield the threat of tariffs around the world? This alone would probably have led to the goal of lower rates and a lower dollar to boost the economy.

Like the recent Greenland threat of annexation, “one way or the other,” it seems that once again, this president has proven to be a master of creating a problem that doesn’t exist, in which only he can resolve and come out as a hero. But in this case, it appears that the process has alienated important allies. This has led to many nations losing their trust in the U.S. as a reliable trading partner. And what is the consequence of losing a relationship due to loss of trust? Other countries seek new trade agreements with other nations that hold to their agreements and allow their companies to make stable plans for their future business. Canada and Europe, for instance, have opened up new trading relationships with China and South America. That’s lost business for American producers. It also creates agreements regarding the use of currencies other than the U.S. Dollar, which weakens the greenback. President Trump wants this. But he’s not going to like it if other nations curtail their investments in America rather than opening new ones. It becomes a case of “Be careful what you wish for.”

Attention now turns to a potential successor as Fed Chair, Kevin Warsch. He was born April 13, 1970, in Albany, NY, according to Wikipedia (time unknown). He has his Sun at 23° Aries, and his natal Moon can be anywhere within 7° degrees of 23 Cancer, in exact square to his Sun. The U.S. has a Mercury-Pluto opposition near his Moon and a T-square to his Sun. President Trump has his Venus-Saturn conjunction at 23-25° Cancer, near that Moon, but square Warsch’s Sun in Aries. It will be interesting to see what happens when transiting Saturn hits these planets at 23-25° Aries, from May 2027 to March 2028.

Warsch also has four planets in the money sign of Taurus (Saturn, Mercury, Venus, and Mars), which fits his profession. Right now, transiting Jupiter is crossing his natal Moon (first half of 2026). He’s popular. And transiting Uranus is about to form an opposition to his natal Neptune (second time due to retrograde) in 0° Sagittarius. He is about to enter another reality that may seem surreal to him. Think of the opening lines to the classic TV thriller, “The Twilight Zone.” This sense of otherworldliness may peak in July when the Jupiter/Pluto opposition T-squares his natal Jupiter. Nothing may be quite what it seemed. But he can survive it. He can also bring clarity to the position with his Mercury-Saturn conjunction. Yet he probably moves more slowly and, more cautiously, than the president would like. Both have Mars at 26° in stubborn fixed signs. But Trump’s Mars is in the fire sign Leo, on his ascendant. Warsch has his Mars in the earth sign of Taurus, in opposition to Neptune. One pushes, the other holds his ground. Guess which is which?

 ANNOUNCEMENTS

 NOTE 1: THREE MORE WEEKS!!! THE MMA ANNUAL FORECAST 2026 WORLDWIDE WEBINAR WITH RAYMOND MERRIMAN WILL TAKE PLACE ON SUNDAY, FEBRUARY 22, STARTING AT NOON EST. From the comfort of your own home or office, you can tune in to this live event. This broadcast will address the major themes from this year’s Forecast 2026 book, with updates on financial markets since the book was written in November 2025. The event will include trading plans for various financial markets, including the U.S. stock market, Gold, Silver, and Bitcoin. Ray’s special guest will be Wyatt Fellows, MMA’s new president, who will speak on the outlook for grain prices for 2026 based on his Saturn-Neptune studies. If you are unable to attend live, the video recording will be available the following day. The cost of this special three-hour webinar is $60. Registration for the Forecast 2026 webinar is now open. Save the date! Sign up now!

 NOTE 2: MMA’S 2026 TRADERS’ RETREAT WILL TAKE PLACE MAY 20–24 IN LAKE BLED, SLOVENIA!!! Pre-register by March 1 and save big bucks!!!

 This special four-day event will focus on trading strategies for position and short-term traders for 2026. It will cover the unique, evidence-based MMA methods for identifying primary, half-primary, major, and trading cycles. It will then apply those market-timing techniques (cycles and geocosmic studies) to the current situation in stock markets, Gold, Silver, Bitcoin, currencies, interest rates, and Grain markets, with strategies for each on both a short- and intermediate-term basis (one week to 12 months ahead).

There will also be special presentations and interactive discussions on current and future world conditions through 2032 that are likely to affect financial markets. These will be led by world-class mundane astrologers Claude Weiss (Switzerland), Christeen Skinner (UK), Christof Niederwieser (Germany), Pouyan Zolfagharnia (UK), and Raymond Merriman (USA). Joining them on MMA timing methodology and trading strategies will be MMTA director Wiebke Held (Germany) and MMA analysts Wyatt Fellows (USA), Ulric Aspegrén (Switzerland), Gianni Di Poce (USA), and MMA Trading Coach Rita Perea (USA).

Registration is now open, with special discounts for early bird registration. The presentations will also be available via Zoom for those unable to attend in person, and recordings (along with PowerPoint slides) will be available immediately after each day’s presentations to all who attend. For schedule, registration, speaker bios, topic descriptions, and hotel information, please click here. The MMA Annual Investment and Traders’ Retreats are incredible events! Don’t miss it if you can make it.

 NOTE 3: THE MMA DAILY OPTIONS REPORT WITH DEREK PANAIA HAS BEEN UP AND RUNNING SINCE JANUARY 15. This new daily options service focuses on the S&P, Gold, Copper, T-Notes, Soybeans, and Bitcoin, plus other markets where special situations arise that would benefit from options strategies. The service includes intraday updates as necessary, sometimes multiple times per day, depending on market conditions. Ray Merriman will also provide commentary within this new daily service. In fact, this is where Ray is spending most of his time discussing trading strategies in 2026.

The cost is $360 per month or $3600 per year until June 30, when the special launch price will end. For those who already subscribe to the current MMA Daily Report, which is issued at the end of each trading day for the next trading day, the cost of adding Derek’s new Daily Options Report is only $140 extra per month. For more information on this new service, or to pre-register, click here. Order now at the special launch price to get in on the action of options trading if you are an active trader!

 NOTE 4: FORECAST 2026 IS NOW OUT! ORDER WHILE COPIES LAST! This year’s book is 240 pages (our largest ever because it’s the special 50-year anniversary edition) and measures 8.5″ × 11″. The price of the Forecast 2026 print edition is $66, and the eBook is $55. To order this year’s 50th-year anniversary edition, click here. It’s special!

NOTE 5: THE GOLD BOOK: GEOCOSMIC CORRELATIONS TO GOLD PRICE CYCLES is now available as an eBook. This was the first financial market-timing book written by Raymond Merriman (1982) that put financial astrology on the map. It was the first book to conduct formal quantitative research studies on any financial market in relation to planetary cycles (there were several earlier studies on lunar cycles, but none on planetary cycles and stations until this book). It brought together Wall Street with astrology and revolutionized the field of financial market timing by demonstrating the correlation between market cycles and planetary cycles as reversal signals. As a result, the topic became one of the most attended subjects at financial and astrology conferences worldwide in 1983. This classic book has been out of print since 1984, except as a collector’s item occasionally available through Amazon. It is now available as an eBook for the first time! 324 pages, $95. Click here to order.

 NOTE 6: THE JUPITER REPORT — YOUR MOMENTS OF OPPORTUNITY! The Jupiter Report is written by Raymond Merriman. It is a 30- to 40-page report that all traders (and even non-traders) will find highly valuable. It identifies the times during the year when Jupiter transits are highlighted in your natal chart and explains the meaning of Jupiter’s transits to your natal planets and angles over a 14-month period (including one month before your order date and one month after the year ends). As an added bonus, each transit is ranked on a scale from –3 to +3 in terms of favorability for trading. Traders may find this especially valuable! Would you like to know when you are under a +3 transit and therefore most likely to experience trading success? Or a –3 transit, with a stronger-than-usual potential for misjudgments and losses? The cost of a personal 14-month Jupiter Report based on your birth data is $69.

 NOTE 7: THE MMA SOLAR-LUNAR APP OFFERS REVERSAL SIGNALS FOR THE DJIA, NASDAQ, GOLD, AND SILVER. It is an ideal tool to have in your back pocket if you are a short-term swing trader looking for high-probability dates that identify isolated lows and highs in these markets. Please note that this should not be used as a standalone system. It works best as an adjunct tool when cycle lows or highs are due, when a market is in a technically overbought or oversold condition, or when it is exhibiting intermarket bullish or bearish divergence relative to a related market. The app is currently available only on Apple devices (iPhone and iPad). To learn more about the MMA app, click here. To order, go to the Apple App Store and search for Merriman Solar/Lunar Reversals.

 NOTE 8: RECORDINGS OF MMA’S SPECIAL SIX-WEEK COURSE ON “THE BASIC PRINCIPLES OF GEOCOSMIC STUDIES FOR FINANCIAL MARKET TIMING” ARE NOW AVAILABLE!!! Led by Gianni Di Poce and supported by Ray Merriman, this course is designed to teach students the basic principles of planets, signs, and aspects (including retrograde and direct stations) as used in MMA’s market-timing methodology — one of its most important tools. The course explains which planets and signs rule the various sectors of the economy and financial markets. In addition, it covers how to use an ephemeris and astrological software (Solar Fire) for important routines such as calculating charts, generating transit “hit lists,” and identifying signs, ingresses, planetary stations, and aspects — the essential cosmic features necessary for determining market reversal periods.

The course is especially useful for those interested in taking the MMTA4 program, which began on September 27, or for anyone wishing to deepen their astrological knowledge. The cost for these six introductory lessons, each lasting about two hours, is $300. This is a great opportunity to learn basic astrology from a master economic astrologer! Click here to order now!

 NOTE 9: THE NEW AUDIOBOOK OF EVOLUTIONARY ASTROLOGY: THE JOURNEY OF THE SOUL THROUGH STATES OF CONSCIOUSNESS, by Raymond Merriman, written in 1993, is now available! It is narrated by Thomas Miller, who has a great voice and also broadcasts MMA’s free weekly column. The first edition of Evolutionary Astrology, originally published in 1977, introduced this remarkable subject to the astrological community, where it has since become one of astrology’s major branches of study. Get ready to listen to the original work on Evolutionary Astrology that brought a spiritual perspective to the study of astrology from the late 1970s through today. To order the book (hardcover or eBook) or the audio recording, please click here.

 EVENTS

 FEBRUARY 6, 2026, IN THE U.S. (February 7 at 8:00 AM in China): Forecast 2026 webinar for China. This will be a three-hour webinar sponsored by Nodoor Astrology School in Beijing, starting at 7 PM EST on February 6, which is 8:00 AM in Beijing on February 7. The webinar will be presented in English by Raymond Merriman, Gianni Di Poce, and Wyatt Fellows, and translated into Chinese by the staff of Nodoor. Ray will begin the webinar with an astrological overview of the year and its meaning in terms of geopolitical and collective psychological trends (i.e., the Aries Vortex). The speakers will then present their latest updated analysis and strategies for the U.S. and Chinese stock markets, Gold, Bitcoin, and Crude Oil, if time allows. To register, please contact Nodoor at www.nodoor.com.

 FEBRUARY 22, 2026: MMA’S ANNUAL FORECAST 2026 WEBINAR WITH RAY MERRIMAN. Details above. This webinar will be presented entirely in English and will cover the U.S. stock market, Gold, Silver, Bitcoin, Soybeans, Crude Oil, and other markets, as time allows.

MAY 20–24, 2026: MMA’S NEXT INVESTMENT RETREAT, LAKE BLED, SLOVENIA. SAVE THE DATE!!

Registration is now open, with a special early bird discount for those who register by March 1st. The presentations will also be available via Zoom for those unable to attend in person. The theme of this event will focus on market timing and trading. It’s going to be great!

SEPTEMBER 3, 2026: A UAC PRE-CONFERENCE WORKSHOP ON FINANCIAL ASTROLOGY BY RAYMOND MERRIMAN, 1:00–5:00 PM. This workshop will take place at the United Astrology Congress (UAC), the largest astrological conference in the world, which is held every 4–8 years. More than 150 world-class astrologers will be presenting. The conference will be held at the Marriott Hotel in downtown Chicago. In addition to the workshop, Ray will present two lectures during the six-day event: one on mundane astrology (“What Is Happening in the World from an Astrological Viewpoint”) on September 5, and another on “The U.S. Stock Market: Timing Tools and Outlook” on September 7 (Labor Day). Discounts are available for those who register by January 20. For more information, visit www.uacastrology.com.

 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 of educating the reader on the relationship between astrological factors and collective human activities as they occur. 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 those movements 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, 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 cycle 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 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) 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.