MMA Weekly Report Nikkei Stock Average By Raymond Merriman Feb.16 2026

1. Review

The Nikkei Average ended last week at 56,941, up 2,688 points from the previous week. The week's low was 55,018 on Monday the 9th. The week's high was 58,015 on Thursday the 12th. The closing price for the week remained above the weekly upper resistance line, so the sentiment is bullish. The bullish momentum continues. In fact, this closing price was above the Weekly Trend Indicator Point (TIP) for 12 weeks on 11 of those weeks.

Therefore, the underlying trend remains in an “upward” trend.

2. Cycles

As previously stated, in "Forecast 2026" the long-term market cycle of the Nikkei Average has been changed from 17 years to 19 years. However, the starting point remains October 28, 2008, when it was 6,994. Therefore, the question of where this 19-year cycle has bottomed, or whether it has not bottomed yet, will be the focus in 2026.

For details, please refer to the PDF file.

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