MMA Weekly Report Nikkei Stock Average By Raymond Merriman Nov.10 2025

1. Review

Last week the Nikkei Stock Average closed at 50,276, up 2,134 points from the previous week. The week's high was on Tuesday the 4th at 52,636. The week's low was on Wednesday the 5th at 49,073. The closing price for the week fell below the weekly downside support line, indicating a bearish tone for three weeks. Therefore, the streak of gains appears to have ended. However, this closing price was 24 weeks above the Weekly Trend Indicator Point (TIP) in the 25-week period. Therefore the underlying trend remains in an “upward trend” state.

2. Cycles

This will also be explained in the December issue of “Forecast 2026,” but the Nikkei Stock Average is believed to have a long-term cycle of 17 years. The starting point was 6,994 on October 28, 2008. This cycle splits into two parts over an 8.33-year cycle, with the first half ending in a “double bottom” at 14,864 on June 24, 2016 and 14,865 on February 12 of the same year. From there, the second half (the 2nd–8.33 year cycle) began. 2025 corresponds to the 17th year of the 17-year cycle.

Please see the continuation in the PDF file.

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