MMA Weekly Report Nikkei Stock Average By Raymond Merriman Nov.17 2025

1. Review

Last week, the Nikkei Stock Average closed at 50,376, up 100 points from the prior week. The week's high was 50,376 on Tuesday the 11th. The week's low was 50,246 on Friday the 14th. The week's range moved between the weekly support line and the weekly resistance line, so the tone was neutral. However, the closing value fell below the Weekly Trend Indicator Point (TIP) for the first time in 24 weeks. Therefore, the underlying trend has been downgraded from “uptrend” to “neutral.”

2. Cycles

This will be explained in the December issue of 'Forecast 2026,' but there exists a long-term market cycle for the Nikkei Stock Average with a 17-year period. Its starting point was 6,994 on October 28, 2008. This cycle is split into two by an 8.33-year cycle, and the first half ended with a “double bottom” at 14,864 on June 24, 2016 and 14,865 on February 12 of the same year. From here, the second half (the 2nd to the 8.33-year cycle) began. 2025 corresponds to the 17th year of the 17-year cycle.

Please see the PDF for the continuation.

* MMA Report is prepared from Mr. Meriman's unique perspective for information provision and does not constitute a buy/sell recommendation.

* Please make your final investment decisions at your own responsibility.

* Copying or distributing our report without authorization is a breach of contract. If such breach is discovered, legal action may be taken, and distribution may be terminated even within the subscription period. We appreciate your understanding and cooperation.