MMA FREE WEEKLY COLUMN FOR THE WEEK BEGINNING JULY 6, 2026

 REVIEW by Ray Merriman

 The monthly jobs report showed that the labor market softened in June. The U.S. economy added 57,000 jobs in June, versus 113,000 expected, while the unemployment rate ticked down to 4.2% in June from 4.3% in May. June’s job growth numbers snapped a three-month streak of job growth over 100,000. The numbers also eased significantly from a revised 129,000 jobs added in May.

—Emma Ockerman and Grace O’Donnell, “June Jobs Report: U.S. Labor Market Slows From a Sprint to a Jog,” Yahoo Finance, July 2, 2026.

 Federal Reserve Chair Warsh seems keen to encourage more uncertainty by offering little useful policy guidance. Warsh did suggest broadening the range of data sources the Fed uses—because official data is less reliable. This is a good thing, but it does require intelligent understanding that alternative sources also lack precision. Warsh [also] reiterated a belief in the productivity pixie, suggesting artificial intelligence could be a strong automatic disinflation force. This belief is troubling (because it is not true). Any new technology is a relative shock, lowering some prices and raising others (see Apple iPad pricing for details).

— Dr. Paul Donovan, “Policy and Data Problems,” Morning Audio Comments, UBS,  www.ubs.com/cio, July 2, 2026.

It was that kind of a week—the unexpected kind that you might actually expect in a shortened holiday trading week if you also understand the nature of Mercury retrograde. The “trickster,” notorious for false hopes and contradictory buy-and-sell signals, began its retrograde on Monday, June 29. This was compounded by the fact that the heliocentric position of Mercury was also in the volatile sign of Sagittarius, June 25–July 6. Thus, some financial markets made new all-time highs while others sank to multi-month and even multi-year lows. And then some of those suddenly reversed. It was also not surprising that several instances of bullish or bearish divergences were exhibited within markets of the same sector, where some made new lows or highs for their primary cycle, but not all followed the same script. Are those new highs or lows to be trusted? The trickster would argue otherwise.

In Asia and the Pacific Rim, only India’s Nifty index rallied smartly to a new 8-week high on Friday, July 3. The star of this region has been the Japanese Nikkei, but its all-time high was a week earlier on June 22. The Hang Seng of Hong Kong, on the other hand, rallied modestly after posting a new yearly low on Friday, June 26. China’s Shanghai Composite (SSE) and Australia’s ASX are doing the typical Mercury retrograde shuffle of changing directions every 1–4 trading days within a rather tight congestion zone (no new monthly highs or lows).

European equity markets were surprisingly strong with both the German Stock Market (DAX) and Swiss Market Index (SMI) soaring to new all-time highs on Friday, July 3. However, these were not accompanied by new highs in either the London FTSE or Amsterdam AEX indices.

Similar divergences were observed in the American stock markets. The Dow Jones Industrial Average (DJIA) rallied to a new all-time high of 52,903 on July 2. This is right within the middle of the range given in the Forecast 2026 book, written last November, of 49,400–57,750. But the NASDAQ failed to take out its all-time high of June 16 and the S&P’s all-time high of June 2 remains intact, for a strong case of intermarket bearish divergence amongst all three indices. As stated in the Forecast 2026 book, a new all-time high in each of the indices was anticipated within 2–5 months following the 50-week cycle low. That low has been confirmed as of March 30 in the DJIA, which means we look for the current high—and perhaps high of this year—to unfold between May–September. Our geocosmic markers for an all-time high were projected to occur within four months of the Jupiter convergence of July 15–25, and ideally within just two months of this most important of all geocosmic cycles in 2026. It would appear that we are now entering the time band when more caution than usual might be appropriate.

Equities were not the only interesting game in town last week, as divergences were evident across markets. Gold dropped to a low of 3955 on June 30, its lowest mark since September, during the period when heliocentric Mercury was in Sagittarius, which offsets the usual bullishness of this transit. Gold is now entering the time and price range for a longer-term cycle trough as provided in our weekly and monthly reports. Silver, however, made its multi-month low the previous week at 56.14, for a bullish divergence signal in the precious metals. But once again, can these signals be trusted with the trickster (Mercury retrograde) on the loose until July 23?

Bitcoin also plummeted to 57,775 on July 1, the lowest price since September 2024. This decline remains aligned with the cycles outlined in Forecast 2026 and updated in the recent MMA Mid-Year Market webinar. Crude Oil also dropped to a new 3-month low (67.04) on July 2 as Saturn continues to separate from Neptune and the nadir of the Aries Vortex of February 20. As pointed out before in this column and in recent webinars, the “orb of influence” of Saturn’s domination in this cosmic configuration began to lose its power as of April 7, and the themes of Neptune have begun to assert their dominance (peace over war). The control freaks of world politics are losing their grip and the pendulum is starting to swing in favor of those who protest without violence (Neptune in Aries—warriors of peace, not war, as the agents of change indicated by Neptune’s presence alone now as the midpoint of the Uranus/Pluto trine in air signs).

 SHORT-TERM GEOCOSMICS

 New York hit 100 degrees as a heat wave stifles the Northeast.

—The New York Times , July 2, 2026

Under Trump, you guys have two outcomes: either we win, or they cheated. That shit has to stop.”

—Bill Maher to J.D. Vance, Real Time with Bill Maher,” June 26, 2026 (YouTube clip)

The U.S. will celebrate its 250^th birthday this week. And it’s not just Mercury retrograde and the trickster steering this ship into a possible party crash with Jupiter (fun) just recently entering Leo (also fun) on June 30. It’s also Mars conjunct Uranus in Gemini—the first Mars/Uranus conjunction in Gemini in about 80 years. This rare conjunction in Gemini—especially under a Mercury retrograde—deserves some attention, given that Mercury rules Gemini. So, let’s start with the Mercury and Gemini themes.

Both Mercury and Gemini pertain to matters of communication, and particularly the manner in which the mind processes and conveys information. Both Mercury and Gemini love nothing more than the giving or receiving of information, especially news and facts. But the question is: whose facts? That depends upon how the information is garnered and processed. If it is through skeptical curiosity that takes time to investigate and derive a truth, such as through research and scientific rigor, it carries more gravitas. This might be the case when Saturn or Capricorn are also involved. But that is not the case here. Instead, we find the impulsive and disruptive Mars and Uranus conjoining one another in the sign of Gemini.

Although these two planets in sync can open one up to inspired thought, invention, and unconventional thinking, it is also the case that they can be abrasive and careless with words. There can be speaking (or threatening) before thinking, thus causing animosity and combativeness rather than inspired solutions. In the hands of someone given to outbursts of anger, this aspect can be easily triggered into spewing an avalanche of hostile words. Hence, what was a period of relative calm can quickly spiral into a brawl solely based on impulsive, careless words.

In today’s world of a passive-aggressive war between the U.S. and Iran (or Russia and Ukraine, or any other countries in combat with one another), where each side accuses the others of violating the terms of an agreement, this can lead to renewed threats of bombing and destruction. However, just as quickly as the wildfire ignites, it can also suddenly burn out. The threats can be withdrawn, especially during Mercury retrograde and with Neptune on the midpoint between Uranus and Pluto. The longer-term implications signal less violence and more peace. But shorter-term, there can be flare-ups, often the result of an explosion of immature (adolescent) anger bursting out. The lesson to be learned here is to think before speaking, especially if you feel a sense of anger and resentment boiling up.

In terms of other mundane possibilities, we note the severe heat waves engulfing the world, from the Americas (North and South) to Europe. Wildfires are starting. Climate experts are predicting an El Niño pattern, which could affect the growing of crops, especially in South America. Crude Oil prices are coming down, but a flare-up in the U.S.-Iran conflict could cause a re-escalation of prices. Prolonged heat in weather patterns could also cause crop damage, leading to higher food prices. Mercury retrograde suggests the investment and trading community is looking for a reduction in inflationary pressures. The expectations of economists were off on their projections of last week’s payroll figures. They may also be off on their favorable (but price bearish) projections for future crop yields, especially given that within one year of the Saturn/Neptune conjunction (every 36 years), there are usually huge rallies in grain markets.

And related to that, we must also keep in mind that the first of five trines between Uranus and Pluto (lasting into spring 2028) will take place on July 17, followed by Jupiter in sextile to Uranus, trine to Neptune, and in opposition to Pluto, July 20-21 (the “Jupiter Convergence of 2026”). The first two aspects mentioned here are indicative of a “melt-up” in financial markets (like stocks). The last one (Jupiter/Pluto opposition) is symbolic of a financial crisis, often precipitated by a debt crisis, corporate bankruptcy, credit downgrade, or bank run. Mercury retrograde tells us markets will go up and down in quick succession. Mars conjunct Uranus in Gemini tells us that the amplitude may be greater than usual and caused by an unwise choice of words (threats, anger eruption) by a world leader.

As traders, we need to be very nimble now. As investors, try to screen out the noise and not be distracted from long-term investment goals and strategies. As conscientious human beings, make the effort to be respectful of others, control emotional outbursts, and understand that the power of your words may trigger an explosion of repressed anger in others unless expressed diplomatically. Be open to inspired thoughts that can solve problems, not create new ones. Let your mind be stimulated, not agitated. You have the choice.

ANNOUNCEMENTS

 NOTE 1: THE JULY ISSUE OF THE MMA MONTHLY CYCLES REPORT WILL BE RELEASED THIS WEEK, JULY 7–8. This issue will be especially timely because it will cover the powerful Jupiter convergence taking place July 15–25, when Jupiter will sextile Uranus, trine Neptune, and form an opposition to Pluto, all during the first of five passages of the Uranus–Pluto trine that will continue into 2028. Will the U.S. stock market melt up to a new all-time high before beginning a powerful decline? Or will it continue breaking to new highs? Each issue includes our outlook for the U.S. stock market (DJIA and S&P), Gold, Silver, Copper, Treasuries, the Euro currency, Crude Oil, and Soybeans. The MMA Monthly Cycles Report also provides MMA’s original geocosmic CRDs and solar/lunar reversal dates over the next several weeks, as well as trading strategies for both position traders and aggressive short-term traders. If you would like to try a one-month subscription, you can sign up for the July issue for only $35 — or save by ordering a three-report or twelve-report subscription.~260706

Additionally, the monthly MMA European Cycles Report, covering the DAX and SMI, and the MMA Japan Cycles Report, covering the Nikkei stock index and the Dollar/Yen outlook, will be issued Tuesday–Wednesday, when these markets will also be at critical junctures.

NOTE 2: A SIX-WEEK SUMMER SCHOOL COURSE ON ESOTERIC ECONOMICS: THE HIDDEN ARCHITECTURE OF WEALTH, BY GIANNI DI POCE, WILL BEGIN ON SUNDAY, JULY 12. This immersive, six-week online course is the complete companion to Esoteric Economics, the financial astrology textbook by Gianni Di Poce. The course touches on conventional economics, but it also reveals the deeper, often invisible currents that truly govern wealth: archetypal forces, temporal rhythms, capital flows, and the ancient principles that have shaped civilizations for millennia. The course blends rigorous historical and technical analysis with esoteric insight, practical tools, and visionary thinking. You will not simply study economics — you will be initiated into its hidden language and learn to navigate it with clarity, confidence, and creative power. The cost of this six-week course is $300, and registration is now open! Click here to register.

NOTE 3: THE ANNUAL MMA MID-YEAR MARKET WEBINAR WITH MMA MARKET ANALYSTS WAS GREAT — AND RECORDINGS ARE NOW AVAILABLE. This year’s webinar was conducted in an interview format hosted by Raymond Merriman. The feedback from attendees was very positive, with many saying they loved the new interactive format in which Ray presented his views and then invited each analyst to share their outlook for the second half of 2026. The analysts and markets covered this year included NASDAQ (Wiebke Held), DJIA (Gianni Di Poce), Euro (Ulric Aspegrén), Bitcoin (Ray Merriman), Silver and Crude Oil (Pouyan Zolfagharnia), and Gold and T-Notes (Wyatt Fellows). The webinar lasted just over three hours, with two five-minute breaks, yet no one seemed to get exhausted thanks to the lively exchanges. The recording costs $66 (a super bargain for a workshop covering these markets), which includes the presentation slides. The markets discussed are still very relevant, and many of the setups described are indeed unfolding now! To order, click here.

Here are three of the many positive responses to the new format and the content:

Today’s webinar was fantastic. I loved the format. There’s a lot of talent in MMA. I listen, learn, and make a lot of money using MMA’s products. Your technical analysis schoolhouse mirrors what the CIA created 25 years ago for their analysts (Sherman Kent School for Intelligence Analysis). Students graduating from your program today will carry your legacy forward for the next 50 years.

— R.B., veteran trader

 That is great feedback! I really enjoyed it too and learned a lot from the team.

— Pouyan Zolfagharnia, MMA Crude Oil and Silver analyst

I also noticed a great improvement, as we showed a unified team (including the same slide background) and more of a discussion rather than a presentation. I think it helped viewers acquire greater clarity through a more active process during the webinar, where you tightened up possible outcomes across many markets.

— Ulric Aspegrén, MMA Euro analyst from the webinar

NOTE 4: COMING SOON: RAY MERRIMAN’S NEW BOOK, JUPITER AND SATURN TRANSITS: MASTERING THE CYCLES OF LIFE. This is Book One, the first of five books that will be written on the outer planets transiting the natal chart over the next four years. Nothing like this has ever been done in the history of astrology. This first book, on the transits of Jupiter and Saturn, is approximately 425 pages long, covering all the major transits of Jupiter to one’s natal planets and angles, including interpretations of the opening and closing sextile, square, and trine aspects. The Saturn section also includes the opening and closing semi-square and sesquiquadrate transits to all natal planets and angles, plus the “Business Cycle” of transiting Saturn. Each transiting aspect is ranked on a scale of –3 to +3 in terms of trading and investment potential, which alone is worth the price of the book.

Here are early reviews by two of the world’s leading astrologers after receiving an early draft of this book:

 Ray’s Jupiter and Saturn Transits: Mastering the Cycles of Life is a fabulous, comprehensive guidebook rich with humanistic wisdom for astrologers. This book is amazing… exceptional in every way! Articulating the Saturn and Jupiter transits to natal planets and angles, Ray offers special emphasis on delineating the waxing and waning aspects. His house-by-house interpretation of these powerful astrological energies and influences brilliantly combines useful tips and insightful keywords. Ray also shares his valuable expertise in financial astrology by including the Financial Ranking for trading with the transits, which makes this book very special!

— Kathy Rose, renowned full-time consulting astrologer and curator of Rose Astrology, with over 40 years of professional practice

Jupiter and Saturn Transits: Mastering the Cycles of Life is a valuable reference guide from financial astrologer and analyst Raymond A. Merriman. This book covers the transits of Jupiter and Saturn to one’s natal chart and applies them to financial trading or investing. Ray has once again dispensed his wisdom and decades of research experience in 400+ pages of a keepsake for this and future generations of astrologers.

 The book begins with a personal story, perfectly setting the stage for Ray’s analysis of how these two powerful influencers can affect one’s life, and what opportunities or potential pitfalls in trading might also appear. Written in a clear reference style, it allows readers to go directly to the areas that are affecting them now. As the planets advance, check the latest updates, and then use the book the rest of the time as an astrology textbook on synthesizing transiting planets, the most-requested area of astrology for consultations and readings.

 For traders or investors, the inclusion of Ray’s practical +3 to –3 “Ranking of Financial and Trading Potential” is worth the book alone, providing a quick scale to evaluate periods of potential opportunity or caution during a Jupiter or Saturn transit. No question, Ray has penned another classic. This book should be in any astrologer’s collection, whether they are involved in the financial markets or not.

— Thomas Miller, prominent astrologer and host of the popular daily audio program, the Fun Astrology with Thomas Miller podcast

The book JUPITER AND SATURN TRANSITS: MASTERING THE CYCLES OF LIFE is due for release in mid-August. The list price is $39.99. However, those who order now, prior to the actual printing of the book in mid-August, will receive the special pre-publication price of $33.00 (plus postage for the printed edition; the eBook requires no postage). To order at the pre-publication price, click here.

 NOTE 5: 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 if 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 that can be costly? The price for a personal 14-month Jupiter Report based on your birth data is $69.

Coming soon! The Saturn Report: Mastering Your Life Cycles. Due out in late summer or early fall.

 NOTE 6: 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). HOWEVER, IT WILL SOON BE AVAILABLE BY SUBSCRIPTION ON THE NEW MMA WEBSITE TO EVERYONE, INCLUDING USERS OF ANDROID PHONES, AROUND JULY 4! To learn more about the MMA app, click here. To order on your iPhone, go to the Apple App Store and search for Merriman Solar/Lunar Reversals.

EVENTS

 JULY 12, 2026: Esoteric Economics course begins with Gianni Di Poce. The six-week course costs $300 and runs from July 12 to August 16. See above for further details. Click here to register.

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 four to eight years. More than 150 world-class astrologers will be presenting, and over 1500 attendees will be present. The conference will be held at the Marriott Downtown Chicago Magnificent Mile Hotel. In addition to the workshop, Ray will present another lecture during the six-day event on mundane astrology, titled “What Is Happening in the World from an Astrological Viewpoint,” on September 5. 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.