MMA FREE WEEKLY COLUMN FOR THE WEEK BEGINNING SEPTEMBER 21, 2026

REVIEW: by Raymond Merriman

 The Federal Reserve raised interest rates Wednesday for the first time in three years, a sharp reversal that began taking back cuts it made last year and implicitly undercut the White House’s insistence that inflation isn’t a concern. The increase, approved unanimously, will raise the benchmark federal funds rate range by a quarter point to between 3.75% and 4%. The vast majority of officials penciled in one more hike this year.

—Nick Timiraos, “Fed Delivers First Rate Hike in Years With Unanimous Vote,” The Wall Street Journal, September 16, 2026.

 The Bank of Japan raised interest rates to a 31-year high and signaled its readiness to keep pushing up borrowing costs.

—Reuters, September 18, 2026.

 Ultimately, the only way central banks can control a relative price increase in one part of the economy (oil) is to create relative price declines elsewhere in the economy. That implies that if oil prices keep rising, and central banks are no longer prepared to look past them, there will be an attempt to run a restrictive monetary policy and engineer a slowdown or mild recession in the non-oil economy.

—Dr. Paul Donovan, “What Happens if Iran is Setting Global Rates?”, UBS Weekly Blog, September 18, 2026.

The September 11–14 two-star geocosmic Critical Reversal Date (CRD) +/- 3 trading days coincided with important lows last week in global stock indices, precious metals, Bitcoin, and even Treasuries, despite interest rate hikes by the central banks of Japan and the United States. It also corresponded to a 4-month high in Crude Oil at 106.75 on Tuesday, September 15. Investors cheered the Fed’s effort to control inflation rather than focusing on supporting the economy, which they think is healthy enough to endure a rate hike at this time. That may last for a while, but anxiety will build if the economy starts to slow down and companies start to lay off workers, which is something to be concerned about as the Lunar North Node moves into Aquarius,from August 18, 2026, through March 7, 2028.

In Asia and the Pacific Rim, all indices we track made major or primary cycle lows September 14–16, then rallied. Those lows represented the lowest prices in 6–14 weeks, with India’s NIFTY and Australia’s ASX indices hit the hardest.

In Europe, the Netherlands AEX, German DAX, and the London FTSE dropped to their lowest levels in 7–8 weeks. The September 15 low in the DAX may be a primary cycle trough. The Swiss Stock Market Index (SMI) fell to its lowest mark in 14 weeks.

In the U.S., each major index bottomed on September 16. Of important note was that the DJIA fell to a new primary cycle low and its lowest mark in 4 months. The NASDAQ and S&P did not make a new primary cycle low, which means last week’s low was a case of intermarket bullish divergence, a trigger that the indices may be ready for a run to test or make new highs. This is what we have been waiting for, as the next cycle crest could be a long-term type if all three indices do not confirm it.

SHORT-TERM GEOCOSMICS

 Billionaire Ray Dalio said investors should reduce their bond holdings and put as much as 15% of their money in gold to hedge against the risk of a U.S. debt crisis that he warns could be just three years away.

—Ye Xie, “Dalio Says Sell Bonds, Buy Gold, Bitcoin as Debt Crisis Looms,” Bloomberg, August 21, 2026.

A slew of important geocosmic signatures begins now and runs through October 4. We begin with heliocentric Mercury ingressing into Sagittarius, from September 20 to October 2. Our research shows that in about 73% of cases over the past three decades, an isolated low in Gold occurs within five trading days before the ingress, followed by a rally 4 to 12 calendar days into it. An isolated low in Gold occurred last week at 4273 on September 16 in the December contract. As of Friday, Gold has rallied over $160, or nearly 4%. Silver has rallied to a high of 67.89, up from the low of 62.75 on September 16, a gain of over 8%. Not bad for only two days, and we are not even in the time band for the first high yet.

The 4 to 12 day period for the first crest overlaps with our next three-star Critical Reversal Date (CRD), which is September 29–30, +/- three trading days. This coincides with the Sun in opposition to both Neptune and Saturn (September 25 and October 4). Both are powerful Level 1 signatures for reversals (take the midpoint). Also in this time band will be the powerful Venus retrograde on October 3, which has a 75% historical frequency correlating to primary cycles (lows or highs) in the U.S. stock market +/- 10 trading days. Although the Venus retrograde has been noted in several long-term cycle highs and lows in U.S. stocks, the Sun/Neptune opposition is equally strong. Thus, watch this period closely for signs of an important cycle trough or crest in several financial markets, including stock indices.

Readers are also reminded that Venus retrograde periods (October 3–November 13, 2026) often correlate with major reversals or sudden, unexpected announcements about monetary or fiscal policy. Last week witnessed both Japan and the U.S. central banks raising their interest rates for the first time in several years, which is typical of Venus retrograde changes. There are likely more announcements of policy changes by central banks or governments during the actual retrograde period coming up. Changes are coming, and they may not be related solely to financial matters, as the U.S. will undergo its mid-term elections in the first week of November—with both Venus and Mercury retrograde and each about to turn direct on November 13. That last happened in early April 2025, when “Liberation Day” was announced and stock markets around the world plunged on news of new tariffs. Surprise results are likely, and final election-day tallies may be delayed until we know which party controls one or both chambers of Congress.

 LONGER-TERM THOUGHTS AND OPINIONS

 President Donald Trump called on Ukrainian President Volodymyr Zelenskyy to halt strikes on Russian oil refineries and other infrastructure used to produce and distribute diesel, saying the attacks are causing a global shortage.

—“Trump Calls on Ukraine to Halt Strikes on Russian Diesel Fuel, Citing a Global Shortage,” The Associated Press, September 13, 2026.

NATO and Ukraine share a deep and enduring partnership. Since the early 1990s, the Alliance and Ukraine have steadily built a strong, mutually beneficial relationship based on close cooperation and shared values. Today, NATO Allies are providing unprecedented levels of military assistance to Ukraine, supporting its ability to defend itself against Russia’s war of aggression. NATO fully supports Ukraine’s inherent right to self-defense, and its right to choose its own security arrangements.

—“Relations with Ukraine,” www.nato.int, July 9, 2026.

If NATO or the EU were serious about protecting themselves against the threat of Russia trying to bring both entities down, they might consider appointing Volodymyr Zelensky as Commander in Chief of their armed forces. No one has proven more capable of defending their region than this Aquarian warrior whose Sun/Venus conjunction is in opposition to his natal Mars retrograde in 0° Leo. Pluto is currently conjoining his Sun/Venus at 5° Aquarius into 2027, so his own personal safety could still be in jeopardy. But Uranus will also trine his Sun/Venus conjunction into 2027, so his military genius and brilliant strategies can continue to produce victories against all odds if he is given the support necessary (and maybe even if he is not given the support he needs to defeat the unprovoked attacker).

Crude Oil is currently the most important commodity driving the price behavior of many commodities and financial markets. As Crude Oil prices remain elevated, growth is likely to stagnate and maybe even lead to a global economic downturn. However, with Neptune, the ruler of Crude Oil, in the midpoint of the Uranus trine Pluto into the first half of 2028, investors and traders alike will find Crude Oil as the leading indicator for nearly all other markets. If Crude Oil falls, financial markets and the future of interest rates will improve – at first. If prices or the global economy fall hard (always a possibility when the Lunar North Node is in Aquarius and Capricorn, 2026–2029), the economic threat may then become deflation. Strangely enough, Gold tends to perform better under the threat of deflation than inflation, probably because interest rates will decline along with the value of the U.S. Dollar. That wouldn’t be surprising given that the U.S. Presidential cycle usually coincides with a falling Dollar under a Republican administration. However, deflation won’t bode well for global equity markets or economies.

Under either scenario, the future looks promising for Gold with Jupiter in Leo, and maybe even into Virgo (now through mid-2028). Ray Dalio’s (founder of Bridgewater Associates) recent advice to invest up to 15% of one’s portfolio in Gold-related assets may not be a bad idea now that the 47-month cycle low in Gold is due and may already be in.

We will be covering this and other investment planning strategies in the Forecast 2027 book, which is now being written and is due for release on December 15.

 ANNOUNCEMENTS

 NOTE 1: THE SEPTEMBER ISSUE OF THE MMA MONTHLY TECH REPORT BY WIEBKE HELD WILL BE RELEASED THIS WEEK, ON SEPTEMBER 23. With the NASDAQ in the time band for a half-primary cycle trough, and about to enter the second half of its cycle, where big rallies can occur followed by big declines into the primary bottom, this will be an especially important report. On top of that, Venus will be turning retrograde during this month’s issue! Each report provides a clearly organized outlook with strategies for not only the NASDAQ but also the QQQ ETF, NASDAQ futures, and specific technology stocks, including Microsoft, Google, Nvidia, Tesla, and Apple. It also includes CRDs specific to the NASDAQ, based on Wiebke’s meticulous research. Focusing on the NASDAQ is crucial because of the outsized role technology will play in financial markets, especially with Pluto now in Aquarius for nearly two more decades and Uranus in Gemini for nearly seven more years. If you would like to try a one-month subscription, you can sign up for the September report for only $35—or save by ordering a three-report or 12-report subscription.

 NOTE 2: 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 be especially important 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 mistake or result in a missed opportunity when the best “deals” arrive. But how will you know when the time is right? This is the subject we address at the beginning of this year’s book, from the viewpoint of market and geocosmic cycles.

During this pre-order period through October 31, the Forecast 2027 print edition by authors and analysts Ray Merriman and Pouyan Zolfagharnia, with additional market analysis by Gianni Di Poce, Wyatt Fellows, and Ulric Aspegrén, 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″, is perfect bound with a glossy 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 your print copy will be mailed in mid-December.

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 last year’s book:

 I ordered the Forecast 2026. This time in print, as I would like to have this 50th edition as a souvenir reminding me of the great insights I got since reading your analysis and, more important for me, your view on life. —R.D., Netherlands

 Everything Ray touches turns to gold. Why is this? It is because he is relentless in his search for the truth. He is humble and honest. Those like me who have paid for his services for many years are the fortunate ones. —R.B., USA

NOTE 3: MMA CRYPTO WEBINAR ON THURSDAY, OCTOBER 8, AT 4 PM EDT. Join Gianni Di Poce and Pouyan Zolfagharnia, editors of the new MMA Monthly Crypto Report, for an overview and outlook on Bitcoin, Ethereum, Solana, XRP, and Cardano from both a cyclical and geocosmic perspective, followed by a live Q&A with attendees. This webinar comes at an important juncture for crypto markets in terms of their long-term cycles. The cost is $35.00, but it will be free to those who have an active MMA Crypto Report subscription at the time of the webinar. Registration links and presentation materials will be added to eligible subscribers’ accounts during the week of the webinar, and a recording along with the session’s slides will be available to all participants by the next day. To register for this special webinar, which includes the October 7 issue of the MMA Monthly Crypto Report and an update on crypto markets, 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, one of the world’s great astrologers, possesses both an innate astrological wisdom and a gift for conveying that wisdom with clarity and accessibility. Jupiter and Saturn Transits: Mastering the Cycles of Life is a remarkably comprehensive book, unique in distinguishing between waning and waxing transits, while offering insightful advice throughout for navigating these transits with awareness. Mr. Merriman has given us a work that is a definitive treatment of the subject as well as an invaluable guidebook. What a great accomplishment this book is!

—Denise Cowing, lifelong student of astrology

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.

NOTE 7: MMA’S FREE WEEKLY COLUMN PODCAST IS AVAILABLE ON SPOTIFY, APPLE, and AMAZON MUSIC! 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

 OCTOBER 8, 2026: CRYPTO WEBINAR. Begins at 4:00 PM EDT and will last about 90 minutes. Details and reservation information above. SAVE THE DATE!!!

 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.