Mercury Return Chart
A horoscope erected for the moment that transiting Mercury is exactly conjunct the position of Mercury in the natal chart. This occurs once a year. The Mercury return horoscope is concerned with the processes of learning and thinking during the period in question, i.e. all Mercurial themes. The Mercury return horoscope is one of several return charts.
Retrograde motion sometimes causes Mercury to make a threefold passage over the same degree of the zodiac. When this occurs it would be, strictly speaking, necessary to erect three different horoscopes, but the general recommendation is to only erect a horoscope for the last of the three conjunctions. When the Mercury return happens during the phase in which Mercury is in its stationary phase and barely moving (just before moving retrograde or direct), the slow movement makes it virtually impossible to accurately calculate the positions of the main axes and other house cusps.
The same general rules used to calculate and interpret the solar return chart, which is valid for one year, also apply to the Mercury return chart - with the difference that in the latter chart Mercury is the planet of reference so the main focus of attention is on themes associated with that planet. For example, the house position of Mercury in the return horoscope will play a significant role. An interpretation of the Mercury Return Horoscope only really makes sense against the backdrop of the natal chart.