MMA FREE WEEKLY COLUMN FOR THE WEEK BEGINNING FEBRUARY 9, 2025

REVIEW

By Pouyan Zolfagharnia is the editor of the MMA Cycles Plus monthly report, which covers Gold, Silver, NASDAQ, and Crude Oil.

Each week, this column is authored by an MMA analyst on a rotating basis, offering readers a range of perspectives within MMA’s market-timing framework.

Mr. Trump says foreigners bear the costs of the import taxes. He claimed in his essay for us that researchers at Harvard had found that “foreign producers and middlemen, including large corporations that are not from the U.S.” pay “at least 80% of tariff costs.”

 But that doesn’t tell the full picture of how the tariff cost is distributed. The Harvard economists note in the same paragraph that U.S. consumers are bearing up to 43% of the tariff burden, with U.S. companies absorbing most of the rest. That aligns with other research, such as a recent paper from Germany’s Kiel Institute that found Americans pay 96% of the cost of tariffs. Foreign exporters either pass on the full cost of the tariffs to their U.S. customers, or they ship smaller quantities of goods.

• The Editorial Board, “Are Trump’s Tariffs Winning?” The Wall Street Journal, February 4, 2026.

Tariffs are not only inflationary for a nation but also risk undermining the trust and credibility that go hand in hand with the responsibility of being the leading nation in the free world and controlling the world’s reserve currency. It’s worth looking back at the Pound Sterling and how it lost its status as the world reserve currency to the Dollar. The Sterling lost its dominance due to a combination of factors, including high wartime debt resulting from World War I, the suspension of Gold convertibility, and the rise of the U.S. economy. With unprecedented levels of debt, a lack of a Gold anchor, and the threat of a Chinese economic slowdown, the Dollar is in trouble. Last Friday, the DXY index saw the first weekly and monthly close below the lower limits of the long-term bullish price channel that has been in effect since 2011. The cracks are starting to appear. It is also worth noting that a devalued dollar will put inflationary pressure on imported goods.

In the meantime, China is pushing the Yuan and courting foreign trading partners in an increasingly polarized world. According to the Wall Street Journal, the Yuan, which only accounted for roughly 2% of world trade in 2020, now accounts for around 9% and is rising. More significantly, the Dollar accounted for 85% of Chinese exports (15% in other currencies) in 2010. In 2025, 54% of Chinese exports were transacted in the Yuan, with 41% in the Dollar and 5% in other currencies. This leads me to believe that perhaps more significant events are destined to manifest during the Saturn-Neptune conjunction that is taking place on the midheaven of the Federal Reserve Board chart (FRB), in T-square to the natal Sun-Pluto opposition, as analyzed in detail by Ray in Forecast 2026. An important correlation to note is that the Dollar was in a 15-year bullish cycle from the time Saturn transited the IC (or the lowest point in the FRB chart) until it reached the highest point or MC. Transiting Saturn is now due to move back down on this chart. Could this result in a long-term decline in the value of the Dollar? If so, which currency would you choose to park your liquid assets in? Is this a changing of the guards?

The intermarket bearish divergence continues to build, with the DJIA putting in a new ATH on Friday, whilst the S&P 500 and Nasdaq experienced 4% and 8% corrections, respectively, off last week’s highs. The S&P 500 had managed to put in a new ATH last week, whilst the Nasdaq failed to take out the October ATH. The intermarket divergence was evident in Europe too, as the UK’s FTSE and Swiss SMI set new ATHs, whilst the German DAX has been in a three-week decline.

It was a similar picture in Asia, with the Japanese Nikkei recording a new ATH, whilst the Chinese tech-heavy Hang Seng recorded its high last week, and the Shanghai Composite Index (SSE) has also been down for three weeks. After two decades of negotiations, India and the EU announced a new trade deal last week, which was bolstered by news of a new U.S.-India trade deal on Feb 3, sending the Nifty to a new ATH. Meanwhile, in Australia, the ASX also failed to take out its October ATH. It’s a very similar picture in the Americas, with Argentina’s Merval continuing to find resistance at the November high. Brazil’s Bovespa index is testing the December ATH. In South Africa, the JSE index continues its bid for new ATHs.

Silver’s blow-off top continues on its way down this week, having lost almost 50% of its value from last week’s ATH of 12179 down to 6390. Gold has held up much better, ending the week up. We generally find that Gold outperforms Silver when the white metal turns parabolic. That is why I was using the Gold-Silver ratio as an indicator in the weekly reports. Subscribers to the MMA Monthly Cycles Report Plus+ managed to catch the crest with a highly profitable short trade last week. For our outlook on these markets, I highly recommend the MMA Monthly Cycles Report, which comes out next Monday.

Another asset that has been performing as forecasted is Crude Oil, which is finally finding a bid as the restrictive planet Saturn is exiting Pisces, the sign that rules over Oil. As U.S. military assets continue to build in the Middle East, the focus is on whether Iran can strike a deal. More on this in two weeks, when I will be writing this column again, and I hope to share the astrology of Iran with subscribers.

The biggest story of the week was Bitcoin and Ethereum. If you recall, I raised the alarm bells that the 4-year crest had most likely formed back in November 2025. The crest formed at 126,272 on October 6, and we have seen prices drop more than 50% to a low of 59,930 on the CRD (critical reversal date) of February 6. The main question now is when the 4-year trough will form, and at what price? You will find great insight into these questions in the Forecast 2026 and weekly reports. We are also launching a new crypto report in April, so keep an eye out for announcements.

The grains finally found the bid we were waiting for, with Soybeans rallying over 8% this week, and hitting Wyatt Fellows’ price targets as provided within the weekly report. More on grains below.

SHORT-TERM GEOCOSMICS

Crypto’s brutal descent found a new low point on Thursday, with Bitcoin posting its biggest one-day drop since the 2022 crash and the company run by the token’s leading evangelist [Michael Saylor’s Strategy] reporting a $12 billion loss.

 Vicky Ge Huang, “Bitcoin Booster’s $12 Billion Loss Headlines Crypto’s Worst Day Since 2022 Crash,” The Wall Street Journal, February 5, 2026.

As Uranus, the planet ruling over technology, turned direct this week, we saw volatility pick up with a sharp sell-off and a reversal by Friday in related markets such as the Nasdaq and cryptocurrencies. The biggest drops occurred in the cryptocurrencies that had already turned bearish in their respective primary cycles a week earlier.

Over the coming week, we have Saturn leaving Pisces and entering Aries on Feb 13. We also have a number of Uranus aspects, suggesting that there is more to see in the tech world. We have a Venus-Uranus waning square on Feb 8, and the Sun-Uranus waning square on Feb 16. There is also a solar eclipse square Uranus the next day. When Uranus is activated in this way, we tend to see sudden and sharp moves that often break support and resistance levels abruptly.

The solar eclipse takes place in the final degrees of Aquarius, as an air sign. With the Sun and Moon, both in air signs, this may prove to be an important inflection point for Silver.

LONGER-TERM THOUGHTS AND OPINION

When analyzing the winter ingress chart in Forecast 2026, I made the following forecast in relation to Uranus on the IC of the chart:

“In astrometeorology, Uranus is associated with high-pressure systems that bring cold air from the upper atmosphere or the Arctic Circle. Its location on the IC suggests strong and unusually cold winds hitting the East Coast from the North. The region is likely to experience below-normal precipitation and perhaps an Arctic outbreak bringing extreme cold, dry air, and biting winds. It is worth noting that the Saturn–Neptune conjunction brings together two slow-moving, low-pressure planets. The conjunction of these two planets may result in extreme weather patterns related to precipitation, with moisture concentrated in certain areas prone to flooding, while other regions experience drought.

 On the geopolitical stage, Aquarius rising gives the United States a disruptive, contrarian stance—more likely to break with allies, redraw alliances, or pursue unorthodox strategies. Fiscal strain (Saturn–Neptune in the second) could weaken America’s leverage in international finance, while internal instability may reduce its ability to project power abroad. Uranus on the IC also raises the risk of natural disasters or environmental shocks—earthquakes, severe storms, or infrastructure breakdowns—events that could not only destabilize the homeland but also reverberate through global markets and alliances.”

Uranus is the planet of disruptions, disobedience, and popular revolt in the face of injustice. Therefore, it is no surprise to see protests and unrest across the U.S. in response to recent shootings and aggressive immigration enforcement operations by federal agents in Minneapolis.

The forecasted Arctic cold reached large parts of the U.S., plunging temperatures to record lows and causing disruptions and power outages. At the time of writing, I could not understand how the Uranus high-pressure system would interact with the Saturn-Neptune low-pressure system. Last week, this manifested as a “bomb cyclone” of cold, dry air (Uranus) from the North colliding with warm, moist air (Saturn-Neptune) from the South. This resulted in intense winds, heavy snow, blizzard conditions, and flooding in coastal regions, causing damage and disruption along the East Coast and resulting in record low temperatures as far south as Florida. The extreme precipitation of Saturn-Neptune is not limited to the U.S. Over the past few days, Storm Leonardo has brought floods to Portugal, Spain, and Morocco. However, as the precipitation is concentrated in one part of the world, other parts are likely to experience drought.

How can these forecasts help us with the markets? I would highly recommend you watch this week’s MMA Cycles Update on YouTube, presented by Gianni Di Poce with special guests Wyatt Fellows and Derek Panaia. In the discussion, Wyatt raised concerns about the risk of crop damage to winter wheat. As Wyatt explains, snow cover can provide insulation against the extreme cold. Winter wheat is grown in the United States (Great Plains), Ukraine, Russia, Europe, and India. The region most prone to the risk of winterkill is currently Ukraine (the world’s 6^th largest producer), which currently has no snow cover. Also worth noting that the Indian regions are experiencing a drought. Therefore, we continue to track Wheat for a supply shock.

I want to close this week’s column by reflecting on the words of Saadi that portray the importance of understanding cycles (Bustan, Chapter 7: On Prudence, Foresight, and Judicious Planning):

To think ahead in times of ease

Is better than seeking remedies too late.

 When the moment has already passed, if one repents,

What use is lamentation or outcry?

ANNOUNCEMENTS

 NOTE 1: TWO MORE WEEKS!!! THE MMA ANNUAL FORECAST 2026 WORLDWIDE WEBINAR WITH RAYMOND MERRIMAN WILL TAKE PLACE ON SUNDAY, FEBRUARY 22, STARTING AT NOON EST. You won’t want to miss this one! 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, but not limited to, 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. In case you haven’t noticed, Soybeans are starting what could be an explosive move into this summer. 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! ~250209

 NOTE 2: MMA’S 2026 TRADERS’ RETREAT WILL TAKE PLACE MAY 20–24, 2026, IN LAKE BLED, SLOVENIA!!! Pre-register by March 1 (only three weeks from now) 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 the 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: MMA WILL HAVE ITS ANNUAL SUPER BOWL SALE THIS WEEKEND!!! Watch for an announcement of great deals on MMA subscriptions and other interesting offerings that will be available this weekend. Sale begins Saturday, February 6, 2026, at 12:01 AM (ET).

 NOTE 4: THE MMA DAILY OPTIONS REPORT WITH DEREK PANAIA HAS BEEN UP AND RUNNING SINCE JANUARY 15. It has been performing well, with recent successful trades involving shorting (buying puts on) Bitcoin and Silver and buying calls (long) on T-Notes and Soybeans right near their recent lows. Subscribers who followed these strategies have more than paid for the cost of this new service. This new daily options service focuses on the S&P, Gold, Copper, T-Notes, Soybeans, Bitcoin, ETFs, and other markets where special situations arise that may benefit from options strategies. The service includes intraday updates as necessary, sometimes multiple times per day, depending on market conditions. Ray Merriman also provides timely commentary within this service. In fact, this is where Ray is spending most of his time discussing trading strategies in 2026 as they arise.

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, 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 5: THE (ORIGINAL) 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 and 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.

NOTE 10: 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!

EVENTS

 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. Don’t miss it!

 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 1. 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, but there will also be coverage of longer-term cycles, with strategies for all! It’s going to be great! Sign up by March 1 and save $600!

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, “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 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.