MMA Weekly Report Nikkei Stock Average By Raymond Merriman Nov.25 2025

1. Review

The Nikkei 225 average closed last week down 1,750 points from the previous week at 48,625. The week's low was 48,235 on Wednesday the 19th. The week's high was 50,574 on Thursday the 20th. The closing price fell below the weekly support line, so the outlook was bearish. Furthermore, this close also fell below the Weekly Trend Indicator Point (T.I.P) for the second consecutive week. However, the underlying trend remains in a “neutral” state.

2. Cycles

This is something I plan to discuss in the December issue of “Forecast 2026,” but the Nikkei 225 has a long-term market cycle of 17 years. The starting point was October 28, 2008, at 6,994. This cycle divides into two with an 8.33-year cycle, ending the first half with the double bottom at June 24, 2016, when the index stood at 14,864, and February 12, 2016 at 14,865. From there, the second half (the 2nd–8.33 year cycle) began. 2025 corresponds to the 17th year of the 17-year cycle.

Please refer to the PDF file for the continuation.

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