Review
An explosion at a port on Egypt’s Mediterranean coast that set fire to two ships, including a U.S. gas-storage tanker, was caused by a drone attack, Egyptian authorities said Thursday, the first targeting of the country during the current Iran war and a new threat to a vital energy corridor.
— Summer Said and Georgi Kantchev, “Egypt Suffers First Drone Attack, Widening the Iran War,” The Wall Street Journal, July 30, 2026.
The most important theme of the week continues to be the conflict in the Middle East, dominated by obstruction and conflict around key global choke points, from the Strait of Hormuz to the Bab al-Mandeb Strait, and now the Suez Canal. This geopolitical theme echoes the geocosmic theme in the heavens, of the Saturn–Neptune conjunction. Neptune rules over the oceans and waterways, shipping, and Crude Oil. Saturn, as the Great Malefic, rules over constraints, restrictions, scarcity, and fear. This was the signature I looked to when making the following forecast within the Crude Oil section of Forecast 2026:
We got a preview of what is to come between May and June 2025, with the Iran–Israel 12-day war, which sent Crude Oil rallying 41.8%. It’s worth noting that Israel did not target any of the Iranian petroleum infrastructure during the attacks. However, Iran immediately threatened to block (Saturn) the Strait of Hormuz (Neptune), should the war escalate. These concerns remain heightened as we enter 2026.
Against this backdrop, markets experienced another volatile week. An apparent pause in U.S. and Iranian strikes initially prompted WTI Crude Oil to fall by as much as 16.8%. However, the decline reversed sharply following fresh U.S. and Saudi strikes against Iran-backed groups in Iraq, renewed Iranian missile launches, and further attacks on regional shipping and energy infrastructure. WTI subsequently rebounded by 11% from its weekly low. Similar volatility was evident across many major markets, with several geocosmic signatures in effect through the middle of the week, including a powerful Full Moon conjunct the Jupiter/Pluto opposition, reflecting considerable uncertainty and indecision among investors.
The U.S. equity markets saw sharp reversals, with the Dow Jones Industrial Average and the S&P 500 closing the week in the green, whilst the Nasdaq continued to show weakness, despite closing well above Wednesday’s low. For more detail, please refer to the latest MMA Weekly Cycles Report and Wiebke Held’s recent MMA Monthly Tech Report, both of which address these markets and the possibility that important reversals may have formed. The question now is whether these reversals mark important lows or merely pauses within a larger correction.
European markets also rallied, with several indices trading near or recently reaching all-time highs (ATHs), including the U.K. FTSE, German DAX, and Swiss SMI. It’s a mixed picture in Asia, with the Japanese Nikkei following the U.S. market, whilst Hong Kong’s Hang Seng Index and the Hong Kong 50 index have all seen a healthy rally towards the January highs.
The precious metals continue to consolidate near their lows, whilst Copper rallied in line with the semiconductor trade. The only sector to see a decisive move was the grains, which all saw a sharp drop following better weather and precipitation across the Midwest. We have a great trading opportunity approaching, and I would highly recommend reading Wyatt Fellows’ monthly and weekly Grain Reports to gain deeper insight.
Short-term geocosmics
We have now entered eclipse season. As noted in the seasonal ingress section of Forecast 2026, “We will then move toward a Solar Eclipse on August 12. Since eclipses mark important beginnings and endings, it is possible that this marks a key date for the expression of the outer planetary activity from the final two weeks of July and may, in fact, have a wide two-week orb—from the Full Moon of July 29 until the Lunar Eclipse of August 28.” So, the eclipse energy was activated with last week’s Full Moon of July 29. When there is an eclipse season, I am on the lookout for “Acts of God” or perhaps what we would more commonly term natural disasters in the headlines. This is what we have seen this week:
- The southern Japan earthquake: A powerful magnitude 7.1 earthquake struck Kumamoto Prefecture on Kyushu on July 28. It caused building collapses, a deadly explosion at a shopping center, severe infrastructure damage and factory shutdowns.
- The European heatwave and wildfires: Extreme heat, drought and strong winds drove major wildfires across France, Spain, Greece, and Turkey.
- Typhoon Noul and flooding in China: Typhoon Noul struck Guangdong on 26 July, affecting southern China and Hong Kong. More than 700,000 people were evacuated.
This list may grow in number and intensity over the next three weeks, with the most important events occurring within a three-day orb of the solar eclipse (August 12) and the lunar eclipse (August 28). Make a note of the themes that are triggered by the eclipse, as we should see them reappear in early November as Mars transits and triggers the eclipse degree. If you would like to learn more about this and which regions of the world may be affected, I included a special eclipse section within the July edition of the MMA Market Cycles Report Plus+.
Over the coming week, there is a lull in major geocosmic activity, which should provide some welcome respite and an opportunity to enjoy the summer with family and loved ones. As Saadi wrote:
“How sweet to be with those we love beside a green meadow,
kindred hearts together, far removed from the cares of others.”
Elsewhere, he reminds us:
“Treasure every moment spent in the presence of someone dear,
for that moment is the true fruit of life.”
