Whenever heterosexual desire or a marked defense against it, made its appearance in the psychoanalytic material, estrone was produced in quantities sufficient to be recognized in the vaginal smear. Whenever the erotization of the female body markedly dominated the psychoanalytic material, progesterone activity was found in the vaginal smear. The psychic apparatus recorded incipient production of these hormones with extreme sensitivity. An abrupt decrease in heterosexual tension with an influx of passive libido (narcissistic erotization) characterized ovulation as proved by the vaginal smear and basal body temperature technique. The present paper is concerned with the premenstrual-menstrual phase which is the phase of diminishing and low gonad function. The correlations between these hormonal states and their psychodynamics are presented. The material was selected from a total of one hundred twenty-five cycles of fifteen patients. Instructive case material is given. The conclusions confirm the correlations of the first publication: the presence of