MMA FREE WEEKLY COLUMN FOR THE WEEK BEGINNING OCTOBER 12, 2026

REVIEW  by Guest Contributor Pouyan Zolfagharnia

The U.S. economy’s shock absorbers are worn. That could make for a bumpy ride if recent investor anxiety worsens.

—Spencer Jakab, “Borrowing Costs’ Double Whammy Boosts Recession Odds,” The Wall Street Journal, October 9, 2026.

Rising bond yields are causing angst in government circles (and ill-disguised glee in financial media circles, as a new sensation). As with some other areas of economics, the current narrative tends to look at the world with one eye closed. That higher bond yields increase government borrowers’ costs is a concern—but higher bond yields benefit investors.

—Dr. Paul Donovan, “Will No One Think of the Bondholders?” UBS Weekly Blog, October 9, 2026.

In normal circumstances, government bonds act as a shock absorber when the economy begins to weaken. Historically, investors turned to the safety of Treasuries as yields declined and the cost of borrowing fell for households and businesses. This time, however, Treasury yields are already close to 25-year highs, while the additional interest demanded on corporate debt is also rising. Consumers and companies therefore face a double burden of persistently high government borrowing rates alongside widening credit spreads. Instead of cushioning the economy from a downturn, the bond market risks magnifying it by making refinancing more expensive, discouraging investment and increasing the likelihood of recession. However, at the same time, the higher yields may be cheered by many individuals who welcome the increase in investment income for lending their money to institutions and governments that need the cash.

For now, the NASDAQ and the S&P 500 are shrugging off the worries with new all-time highs (ATHs) last week. However, the bearish intermarket divergence with the Dow continues to grow and is now accompanied by bearish oscillator divergence in the CCI as well. These are strong technical indicators for crest formations. We also have the geocosmics supporting this, with Venus retrograde.

Many global equity markets across Europe, Asia, the Pacific, and Latin America have been declining. One market that found a bid was Japan, and it is still below its June ATH. Rising debt costs and energy prices are starting to show themselves across the global markets. With the prospect of higher yields, the U.S. Dollar continues to rise, placing further pressure on precious metals, with both Gold and Silver hitting new multi-week lows last Wednesday through early Thursday before a modest rally into Friday. Those lows are within three trading days of last week’s Venus retrograde station, which could prove to be important as Gold is in the time band for a longer-term cycle trough.

We had a great crypto webinar yesterday, reviewing our outlook at an important time for this asset class. If you are investing in crypto, I would highly recommend getting the recording, which is available on our website. It laid out our outlook, price targets, and upcoming opportunities. See the announcements below.

SHORT-TERM GEOCOSMICS

Over the past week, we have had two important geocosmic signatures: Venus stationed retrograde on October 3, and the Sun opposed Saturn the following day. Both signatures form part of the October 2-5 and 9-12 critical reversal dates (CRDs). With new ATHs forming in the S&P 500 and the NASDAQ last Tuesday, we have to be open to the prospect that an important crest may have just formed. After all, as noted in Forecast 2026, “In terms of stock markets, Venus retrograde and direct stations are two of the most consistent correlations to primary and greater cycles in the Dow Jones Industrial Average. Within an orb of 12 trading days, the Venus retrograde station period has an 80% correlation with primary or greater cycles.”

This weekend, on October 10. Venus forms a square aspect with Mars. As the planets of peace and war forms this hard aspect, it can spell trouble for ongoing conflicts and add to concerns about the cost-of-living crisis and Crude Oil prices.

LONGER-TERM THOUGHTS AND OPINION

As we begin a new Venus retrograde cycle through Scorpio and Libra, it is worth remembering that Venus returns to the same region of the zodiac during its retrograde period every eight years. These returns often revive familiar themes, relationships, and unresolved questions. I would encourage you to reflect on what was happening in your own life eight years ago and consider whether a similar pattern is now re-emerging.

I experienced a remarkable example of this last Saturday, as Venus stationed retrograde. I was attending a wedding when I realized that, at the previous Venus retrograde station eight years earlier, I had attended the wedding of the bride’s sister.

This recurrence of themes and cycles is central to forecasting. By studying previous Venus retrograde cycles in Scorpio and Libra, we can identify patterns that may return under the present cycle. This was the approach I used when writing the Venus Retrograde Period in 2026 chapter of Forecast 2026.

In financial markets, Venus retrograde periods often coincide with a difficult and unpredictable monetary or fiscal environment. It is not unusual to see central banks or government leadership make major policy changes, from accommodative to tightening, or vice versa. Thus, trends that were up or down prior to the retrograde will frequently reverse during this time. With Scorpio ruling over debt and Venus ruling money, it should also come as no surprise to find that significant cyclical reversals tend to take place during this signature. The last time Venus was retrograde in Scorpio/Libra was October 5–November 16, 2018. The 18-year trough in U.S. T-Notes and U.K. 10-year Gilts formed on October 8th and 10th, 2018, respectively.

With rising yields, global bond markets are under considerable strain, with falling prices that have not been seen since 2007 in T-Notes, and the lowest price I can see on my chart for the UK Gilts. Is this a sign that cracks are starting to appear within the financial system, or is it setting up for a great buying opportunity, at least in the short term?

As I also wrote in Forecast 2026:

Another striking theme is the prominence of crude oil and the energy sector. In 1978, the Iranian Revolution redirected global attention to oil supplies, sending prices soaring; in 2010, BP’s settlement over the Deepwater Horizon disaster reshaped conversations about corporate accountability and environmental costs; and in 2018, the French Yellow Vest protests, initially sparked by rising fuel prices, evolved into a national crisis.

And now France is again immersed in huge national protests, this time against the backdrop of a deepening debt and budget crisis.

We now find ourselves in the midst of another global oil crisis. Higher energy prices are intensifying inflationary pressures, pushing bond yields higher and contributing to the collapse in bond prices. Whilst I did not pick up on this theme at the time of writing, the energy crisis and the turmoil in the bond markets are not separate events, but interconnected expressions of the same instability.

This leads me to the third forecast made, which can be seen as the cause of the prior two forecasts:

One of the most consistent themes that re-emerges is conflict and/or peace negotiations involving Israel during these retrogrades. In 1962, global anxieties were heightened by Cold War tensions, but in subsequent cycles—1978, 1986, 1994, 2002, 2010, and again in 2018—we repeatedly see Israel at the forefront of world news. Whether in the form of violent escalations or peace talks. We have seen glimpses of light, like the Egypt-Israel peace talks (1978) or the Israel-Jordan Peace treaty (1994). We have even had Nobel Peace Prizes awarded to Yitzhak Rabin, Shimon Peres, and Yasser Arafat, during the Venus retrograde cycle of 1994. However, all the cycles also include an intensification of violence.

With the benefit of hindsight, we can see how closely these three themes describe the present circumstances. The war involving Israel, the United States, and Iran has escalated across the Middle East, contributing to a global energy crisis. Spiraling fuel costs are fueling inflation, driving yields higher and causing bond prices to fall sharply. Conflict, oil, inflation, debt, and monetary instability have once again become intertwined.

In closing this week’s column, I wish to highlight the concentration of geocosmic activity around mid-November, echoing the theme of last year’s Liberation Day:

Pay particular attention to the period ending the Venus retrograde around November 13, 2026 (with an orb of 1 week), as we have several important geocosmic events taking place all together. The final Mercury retrograde of 2026 will also end on the same day. I’m highlighting this as we had both planets end their retrogrades within a week of one another in early April 2025, which marked a significant low for many assets.

As the saying often attributed to Mark Twain goes, “History doesn’t repeat itself, but it often rhymes.”

ANNOUNCEMENTS

 NOTE 1: THE OCTOBER ISSUE OF THE MMA MONTHLY CYCLES REPORT WILL BE RELEASED THIS WEEK, OCTOBER 12–13. This issue will be timely because it will cover the importance of both Mercury and Venus retrograde periods this month. Historically, financial markets have not fared well during this double retrograde period. Will this time be different? 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 for the next several weeks, as well as trading strategies for both position and short-term traders. If you would like to try a one-month subscription, you can sign up for the October issue for only $35—or save by ordering a three-report or twelve-report subscription.

 NOTE 2: ONLY THREE MORE WEEKS!!! IT’S THAT TIME OF YEAR AGAIN! THE “ANNUAL MMA FORECAST 2027 PRE-PUBLICATION SALE” IS UNDERWAY!!! The sale runs through October 31 and features our once-a-year discounts on both the annual Forecast book and MMA subscription reports.~

This year’s book will have special importance because Ray will outline his view of the long-term stock market investment cycle and how to prepare for it. Do you want to be in cash and have liquidity, or lock your funds up in assets such as real estate that might not be liquid enough to take advantage of this cycle, which has an 80%+ historical record of presenting a generational wealth-building opportunity in stocks? The temptation to buy stocks and real estate at record highs will be strong, but doing so could end up being a timing mistake or result in a missed opportunity when the best “deals” arrive. But how will you know when the time is right? This will be the subject addressed at the beginning of this year’s book from the viewpoint of markets and geocosmic cycles.

During this pre-order period through October 31, the Forecast 2027 print edition will be available at the discounted price of $55 (the retail price will be $66 after October 31), and the eBook version will be available for $45. The book is approximately 200 pages (last year’s was 240 pages), measures 8.5″ x 11″, has a glossy paperback cover, and has set the standard for all astrological almanacs written today.

The best deal on MMA subscription reports is also offered at this time! Save 10% on any subscription of $275 or more with the purchase of Forecast 2027. After the pre-order event ends, the retail price of the Forecast 2027 print edition will increase to $66, and the price of the eBook will increase to $55. Subscription reports will also return to their regular prices. ORDER NOW AND SAVE BIG BUCKS!

MMA will also offer a special bundle discount for those ordering both the eBook and print editions of Forecast 2027 for $75. The eBook typically becomes available one to two weeks before the print edition and allows readers, especially those who live overseas, to avoid delays caused by the postal system. However, many readers prefer the print edition, so ordering both through the Forecast 2027 Bundle makes sense. You will receive the Forecast 2027 eBook on December 15, and print copies will be mailed as soon as they come off the printing presses (usually around December 15, but printer schedules may not be as definite as we would wish).

MMA’s annual Forecast book has served students of cycles and markets since 1976. It provides a cyclical outlook on collective world psychology, the economy, geopolitical developments, socio-cultural trends, and potential weather events and natural disasters—as well as financial market projections for the U.S. stock market (DJIA and NASDAQ), U.S. Treasury market, interest rates, Gold and Silver, currencies (the Euro, British Pound, Swiss Franc, and Japanese Yen), Bitcoin, Crude Oil, and Grain markets. For a more personal overview of the Forecast 2027 book, see the recent video featuring Ray and Pouyan in an interview with Alie Schneider on MMA’s YouTube channel by clicking here. To pre-order the Forecast 2027 book at the special rate, click here.

Here are two reviews of the annual Forecast book:

 This will be the 11th consecutive year I’ve ordered Ray’s annual Forecast book. I read it immediately upon arrival and consult the book several times throughout the year. I consider it to be the most important planning tool for my personal trading/investing, not only for the coming year but also when looking several years ahead. For anyone serious about accurate market timing, Ray’s Forecast book is a must-read.

—S. R., UT (USA), individual trader/investor and business owner with 26 years of experience trading stocks and futures.

Love how your teams work! I can’t say enough great things about how they’ve been covering NQ over the last few years. It has been life-changing for me! Can’t wait to read the 2027 forecast.

—J.S., trader

NOTE 3: THE MMA CRYPTO WEBINAR TOOK PLACE ON THURSDAY, OCTOBER 8. Led by Gianni Di Poce and Pouyan Zolfagharnia, editors of the new MMA Monthly Crypto Report, this webinar provided an excellent overview and outlook on Bitcoin, Ethereum, Solana, XRP, Cardano, and several other altcoins from both a cyclical and geocosmic perspective, with a good amount of Q&A. This webinar comes at an important juncture for crypto markets in terms of their long-term cycles, and the recording is now available for only $35.00 and includes a copy of the Monthly Crypto Report that came out last week. To order, please click here.

 NOTE 4: RAY MERRIMAN’S NEW BOOK, JUPITER AND SATURN TRANSITS: MASTERING THE CYCLES OF LIFE, IS OUT! This is Book One, the first of five books that will be written over the next four years on the outer planets as they transit the natal chart. Nothing like this has ever been done before in the history of astrology.

This first book, covering the transits of Jupiter and Saturn, is 420 pages, measures 6″ × 9”, has a glossy cover, costs $39.99, and includes 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 interpretations of the opening and closing semi-square and sesquiquadrate transits to all natal planets and angles, plus the “Business Cycle” of transiting Saturn through the natal chart. Each transiting aspect is also ranked on a scale of –3 to +3 in terms of its trading and investment potential, which alone is worth the price of the book.

Ray Merriman’s ‘Transits of Jupiter and Saturn: Mastering the Cycles of Life’ is beautifully and fluidly written, and we know from the first chapter that we are in the hands of a Master with his experience of astrology honed over decades.

 This book is excellent for the novice astrologer as well as for the seasoned practitioner and works as a reference book for either. I loved his descriptions of the Jupiter and Saturn cycles in our lives, detailing the transits to all of the personal planets in one’s birth chart. Even being an experienced astrologer myself, I learned a lot through these descriptions in terms of how these transits affect us personally.

 However, what is unique about this book is that Ray has also written it through the lens of financial market investment potential and timing for each aspect, also differentiating between waxing and waning aspects, which was fascinating. He has used a scale of positive and negative potential for each aspect, also drawing the difference in that potential whether you are a trader or an investor. This is invaluable advice and again comes from Ray’s mastery in this area over his many decades of practice.

 This book is a crowning achievement, sharing his expertise on investment potential as a gift to all those interested in investing using astrology. It undoubtedly forms an important part of his legacy to our world, and I highly recommend this book to all budding and more experienced astrologers. Thank you, Ray, for this unique contribution!

—Pam Gregory, prominent British astrologer, best-selling author (How to Co-Create Using the Secret Language of the Universe and You Don’t Really Believe in Astrology, Do You?), and host of a widely followed YouTube channel

To see other rave reviews by several leading professional astrologers, click here. To learn more about this new book, tune in to Ray’s recent podcast interview with Adam Sommer (click here) or his YouTube video interview with Thomas Miller (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.

NOTE 6: The MMA Weekly YouTube show, “Geocosmic Week in Review and Look Ahead,” with Gianni Di Poce, is conducted on Wednesday evenings! Each 5- to 20-minute FREE episode reviews the previous week’s market activity and the geocosmic signatures that will be in effect for the coming week and beyond. Ray Merriman was Gianni’s guest on Wednesday’s YouTube show.

NOTE 7: MMA’S FREE WEEKLY COLUMN PODCAST IS AVAILABLE ON SPOTIFY, APPLE, and AMAZON! Now you can listen to a podcast of this weekly column by Thomas Miller on Saturdays! Thomas has an excellent voice and brings the weekly column to life in a personable and, at times, humorous fashion. Just follow Merriman Market Analyst on Spotify or Apple to listen to all our episodes. A new podcast episode will be released every weekend. This is a FREE service and is available to everyone. Check out our podcasts on Apple, Spotify, and Amazon Music. It makes for great listening!

NOTE 8: 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 bullish or bearish intermarket 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! To learn more about the MMA app, click here. To download it to your iPhone, go to the Apple App Store and search for Merriman Solar/Lunar Reversals.

 EVENTS

 MAY 12–17, 2027: THE MMA INVESTMENT RETREAT IN LAKE BLED, SLOVENIA. Save the date and plan to attend! Yes, we are going back to beautiful Lake Bled one more time. If you have never seen this wonder of the world, this might be your last chance to experience it through an MMA retreat. Future MMA Investment Retreats are expected to alternate, beginning the following year, between the U.S. and Europe. More details and registration steps will be forthcoming by year-end, but plan to register early, as our room allotment has sold out in each of the past two years.

 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.