MMA Weekly Report Nikkei Stock Average By Raymond Merriman Sep.29 2025

1. Review

Last week the Nikkei 225 average closed at 45,354, up 309 points from the previous week. The week’s low was 45,193 on Monday the 22nd, and the week’s high was 45,824 on Thursday the 25th. Although the week’s high exceeded the weekly upside resistance line, the close fell below it, triggering a bearish signal for two consecutive weeks. However, there remains a possibility that the bullish sequence will continue. In fact, this closing price was above the weekly trend indicator point (TIP) for 18 of the 19 weeks. Therefore the overall trend remains in a “rising trend” state.

2. Cycles

As explained in my book ‘Forecast 2025,’ the Nikkei Stock Average has a long-term market cycle of 17 years. The starting point was 6,994 on October 28, 2008. This cycle divides into two 8.33-year cycles, with the first half ending in a “double bottom” at 14,864 on June 24, 2016 and 14,865 on February 12, 2016. From there, the second half (the 2nd–8.33-year cycle) began. 2025 is the 17th year of the 17-year cycle.

Please refer to the PDF file for the continuation.

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