MMA Weekly Report Nikkei Average Stock Price By Raymond Merriman Jan.26 2026

1. Overview

Last week the Nikkei Stock Average closed down 90 points from the previous week at 53,846. The week's low was 52,194 on Wednesday the 21st. The week's high was 54,050 on Friday the 23rd. Although the week's low fell below the weekly support line, the closing price was above it, which is a bullish trigger. Therefore the bullish streak is not over yet. In fact, this closing price exceeded the Weekly Trend Indicator Point (TIP) for 8 of the 9 weeks. Thus the underlying trend remains in an “uptrend” state.

2. Cycles

In Forecast 2026, the long-term market cycle for the Nikkei Stock Average has been moved from 17 years to 19 years. However, there is no change to the starting point at October 28, 2008, 6,994. Therefore, where this 19-year cycle bottomed (or whether it has not bottomed yet) will be a focus in 2026. That said, there is no change to the view that the current market is built on a four-year cycle, and the future development of long-term cycles will continue to be influenced by the near-term price action (usually 12–20 weeks). And currently, the notable low to watch is

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