MMA Weekly Report Nikkei Stock Average By Raymond Merriman Dec. 8, 2025

1. Review

The Nikkei Stock Average closed last week at 50,491, up 238 points from the previous week. The week’s low was 49,215 on Monday the 1st. The week’s high was 51,028 on Thursday the 4th. The week’s low approached the weekly support line but did not fall below it and rebounded. The week’s high approached the weekly resistance line but did not exceed it and declined. In the end, the closing price remained between the support and resistance lines, thus neutral. Furthermore, this closing price was higher than the Weekly Trend Indicator Point (W-TIP) for two consecutive weeks. However, the underlying trend remains in a “neutral” state.

2. Cycles

The December issue of 'Forecast 2026' slightly changes the timing of the long-term market cycle for the Nikkei Stock Average. The starting point remains October 28, 2008, at 6,994, but where this cycle bottoms, or whether it has not yet bottomed, will be a focus in 2026. However, there is no change to the view that the current market is constructed on a 4-year cycle, and the development of future long-term market cycles will be influenced by the near-term PC (typically 12–20 weeks). And currently,

to continue, please see the PDF file.


＊ MMA Report is prepared from Mr. Meriman’s unique perspective for information provision, and is not intended to provide trading recommendations.
＊ The final investment decision is to be made at your own responsibility.
＊ Unauthorized copying or distribution of our reports constitutes a breach of contract. If such breach is discovered, legal action may be taken, and even during your subscription period, distribution may be terminated. We appreciate your understanding and cooperation.

◎ Notice
Forecast 2026 book and PDF versions will be released on December 25.
Please apply here.

?

☆ Forecast 2026 [Book]

☆ Forecast 2026 [PDF]