MMA WEEKLY GOLD AND SILVER REPORT

FOR THE WEEK OF FEBRUARY 5, 2024

GEOCOSMIC CRITICAL REVERSAL DATES (CRDs)

These dates affect all markets. They are the midpoints of geocosmic clusters and have a normal orb
of three days either side (82% rate of frequency). Sometimes, they expand to as much as six days (90+%
frequency with that orb). The idea is to see a new two-week or greater high or low and then a reversal. It
is especially effective when major, half-primary, or primary cycle troughs are due. These are more
important than the solar-lunar reversal dates. The more stars, the greater the historical correlation with
a cycle culmination. For more information, please read Volume 3 of the Stock Market Timing series. Below
is the date of the midpoint and in parentheses the length of time containing the geocosmic signatures
(known as a “cluster”). If the cluster is long (more than 15 days), there may be other possible reversals,
based on tighter geocosmic clusters, within the greater cluster.

Jan 25-28** (Uranus direct; high in Crude Oil, low Bitcoin, Gold, Silver)
Feb 7-8* (We are beginning this now. High in stocks, low in Crude Oil)
Feb 25-28***

These periods are usually more important than the solar/lunar reversal zones and are usually more
accurate because they have a wider orb of time (+/- 3 trading days vs. +/- 1 trading day for solar/lunars).
They will correspond more often with major, half-primary, or full primary cycles, whereas lunar
reversals need only correspond to 2.5% reversals in stocks.

ABBREVIATIONS:
CRD = Geocosmic Critical Reversal Date
ATH = All-Time High
MA = Moving Average
PB = Primary cycle bottom
PT = Primary cycle top
MB = Major cycle bottom
MT = Major cycle top
TB = Trading cycle bottom
TT = Trading cycle top

METALS – GOLD & SILVER

GCJ (Apr Gold) by Pouyan Zolfagharnia, MMA Analyst, and Ray Merriman: Last week’s close was bullish,
closing above the weekly resistance zone. Prices closed above the weekly TIP, ending the trend run-down,
which is now upgraded back to neutral.

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 This week’s trend indicator point is 2051. The trend will be upgraded to neutral if it closes up next
week.

Weekly support is 2034.35-2035.47. A weekly close below this range will be bearish. A trade below
followed by a close back above is a bullish trigger.

Weekly resistance is 2079.85-2080.97. A weekly close above this range is bullish. A trade above
followed by a close back below is a bearish trigger.

Bullish crossover zones remain in effect at 2039.97-2054.85 (went below and closed above, which is
like a bullish trigger), 1866.63-1901.55, 1893.50-1934.20, 1487.30-1496.30, 1363-1364, 1316.40-1324,
1296.30-1301, 1236.20-1239, 1132.20-1144.30, 1070.50-1078.10 and 1014.80-1018.10.

There are no bearish crossover zones in effect. Gold closed above others previously at 1974.30-
1980.15, 1906.85-1929.03, 1790.20-1800, 1489.90-1498.30, 1404.70-1418.20, 1316.30-1319.60,
1117.40-1126.80, so these are now support zones.

The preferred primary cycle labeling is that this starts the 18th week of the 15-21 week primary cycle
off the Oct 6 low at 1823.50 in the nearby contract or 1861.70 in the April contract. Major cycles in Gold
are due between weeks 5-7, with the crest forming between weeks 2-5. We are now in the orb for the
completion of the primary cycle, which can coincide with the orb of a possible intermediate 16-month
cycle if the decline continues and tests or falls below 1900 in the next month. Otherwise, this is a simple
and normal primary cycle, the first within the 50-week cycle.

The first major cycle crest formed in week 3, on Oct 27 at 2039.70. This was followed by the major
cycle trough in week 6, on Nov 13 at 1935.60 in the nearby contract. The primary cycle crest formed in
week 9 on Dec 4 CRD at 2152.30 (2171.50 in the Apr contract), forming a new ATH. This was followed by
a strong sell-off, forming the 8-11 week half-primary trough in week 10, which has also been a contracted
second major cycle low.

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 The third major cycle trough may have formed six weeks later, in week 16 of the primary cycle, on
Jan 25 at 2004 on the nearby contract (2023.30 in the Apr contract). Its crest (and ATH) formed on Dec 4
at 2152.30. Under this outlook, we are commencing week 2 of a rare and fourth and final 5-7 major cycle.
Its crest may have formed last week on Jan 31 at 2083.20.

This week would also commence the 8th week of the second 8-11 week half-primary cycle. Whilst we
have entered the orb for the primary cycle to end, last week’s low appears to be a little early when we
consider the major or half-primary cycle counts. However, distortions to cycle counts are likely when an
intermediate cycle is also due.

As noted in prior weeks, “The 31.3-month intermediate cycle in Gold can either break down into three
50-week (or 11-month) phases, two 16-month phases, or a combination cycle with all these phases. The
trough of October 6 marks the start of the primary and 50-week intermediate cycle. If we are in a bullish
three-phase 31.3-month cycle, which is also starting the 7.83-year cycle from the trough of November 3,
2022, at 1618.30, I would expect prices to rally to a new all-time high (ATH). However, if we are in a
combination 31.3-month cycle, we could see a 16-month cycle form in March 2024 with an orb of 3 months.
The current primary cycle (or the next) is due to end in this range. This would mean the current cycle would
have to turn bearish, taking out the low of Oct 6 at 1823.50.” We got the new ATH, but it was followed by
a sharp decline into the 16-month phase, which could test or break 1900 by the end of this or the next
primary cycle. If it happens at the end of this primary cycle, there would likely be a very sharp decline in
the next three weeks, perhaps right in time for our three-star CRD at the end of this month.

There is an alternate labeling to this 31.3-month cycle, too, that is more bullish and is starting to
appear quite possible. Instead of a two-phase pattern of two 16-month half cycles, it may be exhibiting a
classic three-phase pattern of three 50-week cycles. In this outlook, the 1823.50 low of October 6 may
have been the first 50-week cycle phase of the 31.3-month cycle. We would be in the second 50-week
cycle phase now. In fact, this would be the first of three primary cycles within the 50-week cycle. If that is
the case, the low could be forming anytime in the next four weeks, and it may not be so steep, in the
region of 1987.90 +/- 39. Then, we would start a new primary cycle that could see Gold blast off to new
all-time highs as we head into the Jupiter/Uranus conjunction of April 21. The depth of this current decline
to a primary cycle low and the extent of the next rally will tell us whether this will be a 3-phase 31.3-
month cycle (bullish) or a combination pattern with a 16-month half-cycle low (bearish with lower prices
first).

The Alternate primary cycle labeling: It is possible that the primary cycle trough formed the prior week
on January 25 at 2004 on the nearby contract and 2023.30 on the April contract. That would mean we are
commencing week 2 of the new cycle in Gold. This is supported by the bullish oscillator divergence on the
CCI and the fact that the annual pivot point for Gold is in the region of 2011, which has held so far.

Geocosmics and Current Thoughts

In traditional astrology, the Sun represents Gold, and Aquarius is the house of detriment for the Sun,
which loses dignity in this sign. We would, therefore, expect Gold prices to fall with the Sun’s transit of
this sign, which started last week. The seasonal trends suggest that the decline will continue until the Sun
is in the latter stages of Pisces, forming a trough shortly before the Sun finds dignity by entering its sign
of exaltation, Aries, on the 19 Mar 2024. The important question is whether this trough is the start of the
primary cycle or a major cycle phase within the primary cycle, which may have already begun on Jan 25.
If the latter is true, we need further confirmations in the form of a strong rally above the descending trend
line and for the fast 15-day MA to move above the slow 45-day MA.

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Technicals

Oscillator Divergence: The CCI touched the oversold territory of -150 and has also formed a bullish
oscillator divergence as a signal for the primary trough. This supports the alternative outlook that the
primary cycle trough may have formed on Jan 25.

Price Targets: Prices closed above the bearish price channel shown last week. This move adds further
support to the alternative outlook. However, the seasonal trend supports the preferred outlook. As such,
if we do get a decline into the 16-month intermediate cycle, the Fibonacci price target for the corrective
decline is 1885.30 +/- 63. The MCP target for the decline is 1890.40 +/- 31. A close above the upper channel
will start to negate this. If, however, it is to be a normal correction as the second primary cycle forms in
the Fibonacci price target is 1987.90 +/- 39, and the MCP target is 1933.80 +/- 26.

The following solar/lunar days are from our studies published in The Gold Book: Solar-Lunar Reversal
Keys for Trading Gold. (These are the lunar cycles for the next two weeks, per these initial studies). These
numbers represent the potential for reversal, where anything above 114 has a high probability of an
isolated top or bottom to trade opposite of, for a 3% reversal. * Represents a strong reversal possibility.
The more * the stronger it is. # represents a low likelihood for a reversal. The more #, the less likely a
reversal or big range day.

The solar-lunar cycles for Gold for the next few days are given below. If it states, “often a high” or
“often a low,” it means that a high or low has occurred about twice as often as a high or a low in the past.
However, if the value has an asterisk next to it, it should be looked upon more as a reversal, whether
historically it has been more often a high or low.

Reversal 4% Reversal 3% Big Range Day

Feb 1-4 139.7* 91.1 133.6*
Feb 4-6 166.1*** 157.5*** 104.0
Feb 6-8 87.3 91.1 80.1#
Feb 8-9 62.9 ## 61.6## 108.4 (air-air)
Feb 10-11 118.5* 132.4* 103.6
Feb 12-13 93.1 101.3 71.2#
Feb 14-16 73.6 # 86.3 78.7#
Feb 17-18 63.8 ## 72.9# 146.5**

Strategy: Position traders are flat, having earned excellent profits. Let’s now look to go long at 1988
+/- 12 with a stop-loss on a close below 1937, in case we get a mild correction as opposed to the 16-month
intermediate low.
Aggressive traders are flat. Let’s now look to go long at 1949 +/- 12 with a stop-loss on a close below
1900.
Very aggressive traders (VAG) are flat. Let’s look to buy at current prices with a stop-loss on a close
below 2023.30 in case we are in the new primary cycle.

If you sold short, then place your stop-loss on a close 2098. Having covered 2/3 for excellent profits
on these shorts, look to cover the last 1/3 at 1980 +/- 12 (Apr contract) if offered.

GLD (the SPDR ETF for Gold) by Pouyan Zolfagharnia, MMA Analyst: Weekly support is 186.52-186.75.
Resistance is 190.70-190.92. The weekly TIP is 187.94.

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 Position traders are flat. Look to go long at 181 +/- 2 with a stop-loss on a close below 175.
Aggressive traders are now short, with a stop loss on a close above 194. Cover a 1/3 at 184 +/- 1 and
another 1/3 at 181 +/- 1. Look to cover all and go long at 177 +/- 2 with a stop-loss on a close below 170.

SIH (Mar Silver) by Pouyan Zolfagharnia, MMA Analyst: Last week’s close was a bearish bias, with prices
trading into the weekly resistance zone and closing back below it. The weekly close was below the TIP for
the 9th week, so it remains in a trend run-down.

This week’s TIP is 2284. It will be upgraded to a neutral trend if this week’s close is above there.

Weekly support is 2231-2237.

Weekly resistance is 2327-2333.

Bullish crossover zones remain in effect at 2135-2169, 1961-1983.50, 1625-1626, 1486-1505, and
1096-1103. Prices closed below previous bullish crossover zones at 2347-2381, 2510-2527, and 2641-
2659, so they are acting as resistance zones.

Bearish crossover zones remain in effect at 2704-2755, 2484-2527, 2396-2419, and 2319-2333 (went
above, closed below last week). Prices remain above the previous bearish crossover zone at 1994-2028.50,
so this is now support.

Preferred primary cycle labeling: This starts the 18th week of the 13-21 week primary cycle off the
low of 2085 on Oct 4, which was also the 13th month or the halfway point for the 26-month intermediate
cycle in Silver. As such, the intermediate outlook for Silver is bullish.

Major cycles in Silver tend to form between weeks 4-6, and a half primary cycle between weeks 7-
11. The first major cycle crest formed in week 2, with the high of 2388 on Oct 20. This was followed by the
major cycle trough in week 6, on Nov 13 at 2193. The primary cycle crest formed in week 9 at 2634 on the
Dec 4 CRD.

Prices then fell into the 7-11 week half primary cycle on Dec 13 (week 10) at 2279, on Mercury Station
retrograde. Prices went on to form the half-primary crest at the mid-point of the Mercury retrograde cycle
on Dec 22 at 2490 before forming another trough on Jan 22 at 2204, which may be the third major cycle
trough (6th week) of a combination cycle. If so, we could now be commencing week 2 of a fourth and final
major cycle. More importantly, if lower prices are still ahead, we are also commencing week 8 of the
second 7-11 week half-primary cycle.

Like Gold, we have our first confirmation for a bullish primary cycle as prices took out the crest of the
previous cycle (2548 on Jul 20) but failed to get higher-highs after Tuesday of the 9th week. We have since
seen prices drop within the bearish price channel shown.

Alternate Primary Cycle Labeling: It is possible that the low of Jan 22 at 2204 was a 16-week primary
cycle. If so, this market could become very bullish. The key will be 1) if the low holds or 2) if Silver can
break out of the bearish price channel. The reason this is not my preferred outlook is that fact that the
CCI has not dropped to the oversold region of -200, nor is it showing signs of bullish oscillator divergence.

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Geocosmics:

If the primary cycle has yet to form, the ideal time would be Feb 7-8 CRD next week. The new moon
in Aquarius (Feb 8-10) is a solar-lunar reversal date, which could see an isolated low forming the primary
cycle trough. It is an air-air, Sun/Moon combo, which has a 1/3 probability of coinciding with a big down
day on Feb 8 or 9 (50 cents or more from the top). Prices would have to take out the low of 2204 for this
outlook to hold.

Technicals and Price Targets:

Prices are trading within a bearish price channel and have already dropped below the 61.8%
Fibonacci correction zone. This is indicative of the final and largest decile in the last stages of a primary
cycle. Therefore, the MCP price targets for the decline are 2177 +/- 54, and the Fibonacci price target is
2192 +/- 107. The low of Jan 22 has satisfied this target. Furthermore, a secondary decline happened on
Friday, Feb 2, which was 9 days after the Jan 22 low, which may be a Lendahl Wiggle (secondary low 4-9
days after a primary bottom, if it holds). As confirmation that the primary cycle trough is in, we would
need to see prices break out of the bearish price channel.

The solar-lunar cycles for the next few days are as follows (first column is reversal probability, and
second column is probability of a 2% or greater trading range for the day). The more *, the more likely a
reversal or big range day. The more #, the less likely a reversal or big range day. If it states, “often a high”
or “often a low,” it means that a high or low has occurred about twice as often as a high or a low in the
past. However, if the value has an asterisk next to it, it should be looked upon more as a reversal, whether
historically it has been more often a high or low.

Reversal 4% Big Range Day

Feb 1-4 79.4 168.7
Feb 4-6 127.1* 42.2###
Feb 6-8 133.7* 39.5###
Feb 8-10 204.9*** 136.0*

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 Feb 10-12 89.1 98.3
Feb 12-14 95.3 63.2#
Feb 14-16 29.1### 173.7**
Feb 16-18 97.6 74.1#

Strategy: Position traders are flat. Look to go long again at 2192 +/- 10 with a stop loss on a weekly
close below 2085.
Aggressive traders are flat. Look to long again at 2192 +/- 10 with a stop loss on a weekly close below
2085.

SLV by Pouyan Zolfagharnia, MMA Analyst: Weekly support is 20.33-20.38. Weekly resistance is 21.18-
21.23. The weekly TIP is 20.78.

Position traders are flat. Look to go long again at 19.85 +/- 0.10 with a stop loss on a close under
18.95.
Aggressive traders are flat. Look to go long again at 20.05 +/- 0.10 with a stop loss on a close under
18.95.

ANNOUNCEMENTS & EVENTS

ANNOUNCEMENTS

NOTE 1: ONLY TWO MORE WEEKS! February 18, 2024, 12:00 PM EST, MMA’s Annual Forecast 2024
World Wide Webinar with Raymond Merriman. The webinar begins at noon EST and will last 3 hours. In
the comfort of your own home or office, you can tune into Raymond Merriman’s annual worldwide
Forecast 2024 Webinar. This broadcast will address themes from this year’s Forecast 2024 book, with
updates on financial markets since the book was written in November 2023. This presentation will include
trading plans for various financial markets based on the possibility of big moves related to the
Jupiter/Uranus conjunction of April 21 and afterwards. Questions submitted by registrants in advance will
be addressed in a live Q&A session. If you are unable to attend live, the video recording will be available
the following day. Registration for the Forecast 2024 Webinar is now open. Save the date!

The subject topics of this year’s annual Forecast 2024 webinar will include:

1. The “New Aira,” 2020-2032

2. The outer planets in 2023-2025 and the U.S. war cycle
3. The “Aries Vortex” of 2026 +/- 1 year
4. Jupiter/Uranus conjunction of April 2024 and its correlation to long-term market trends
5. The AI revolution and investment opportunities ahead
6. The Federal Reserve Board and the outlook for the economy and inflation
7. Outlook for Bitcoin
8. Outlook for Gold
9. Outlook for Crude Oil
10. Outlook for the U.S. stock market

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NOTE 2: THE MMA WEEKLY YouTube show, Geocosmic Week in Review and Look Ahead, with Gianni Di
Poce, is conducted on Wednesday evenings! Each 5-20 minute FREE episode reviews the market activity
of the past week and offers a preview of the geocosmic signatures in effect for the next week and beyond.

NOTE 3: MMA’S FREE WEEKLY COLUMN IS NOW A PODCAST ON SPOTIFY, APPLE, AND AMAZON! Now
you can listen to a podcast of this weekly column by Thomas Miller on Saturdays! Just follow Merriman
Market Analyst on Spotify or Apple to listen to all our episodes. New podcast episodes will be released
every weekend. This is a FREE service and is available to everyone. Checkout out our podcasts on Apple,
Spotify, and Apple Music. It makes for great listening!

EVENTS

February 18, 2024, MMA’s Annual Forecast 2024 World Wide Webinar. Registration for the Forecast
2024 Webinar is now open. Save the Date!

March 9, 2024: The Aries Vortex: Third Phase of the “New Aira” with Raymond Merriman. Hosted by
the Astrology University. This is a 90-120-minute webinar presentation that explores the hope for
humanity as shown by the unusual planetary arrangement of 2025-2027 involving the Saturn/Neptune
conjunction at 0° Aries, the vernal equinox point that marks the start of the spring season in the Northern
Hemisphere. It is also the midpoint of the Uranus/Pluto trine, creating a funnel, or vortex, at 0° Aries. This
has huge symbolic importance to the world and aligns with other important economic and socio-cultural
time cycles. Cost is $30.00 if registered before March 7. For further information, click here.

April 20, 2024: “FORECASTS 2024 AND THE APPROACHING ARIES VORTEX,” Nova Southwestern
University, Ft. Lauderdale, FL, with Ray Merriman. An in-person live event and workshop, 10:30 AM – 5:00
PM with a 90-minute lunch break. Cost $95.00. This event will not be broadcast via Zoom, but recordings
will be made available for sale a few days afterwards. For further information and registration, please click
here.

September 19-22, 2024: SAVE THE DATES!!! This will be the next MMA Investment Retreat! Negotiations
are currently underway to bring this exciting gathering to a destination location in Europe for the first
time since 2015. Once the agreement with the hotel is finalized, we will make a formal announcement,
but for now… SAVE THE DATES! You won’t want to miss this chance to meet with the top MMA analysts
(plus special guest speakers Claude Weiss and Aleksandar Imsiragic) live and hear strategies for long-term
investments and wealth-building ideas using MMA market timing methods. There is nothing quite like a
life-altering MMA Investment Retreat! This one will be very special and our first Investment retreat in
Europe since 2015!

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 to educate the reader on the relationship between
astrological factors and collective human activities as they are happening. 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 that movement 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, or even 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 cycles analyst looking at the military, political, economic,

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and even financial markets of the world. It is possible that some forecasts will be made based on these
factors. However, the primary goal is to both educate and alert the reader as 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) the 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.

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