MMA Weekly Report Nikkei Stock Average By Raymond Merriman Feb.24 2026

1. Review

Last week the Nikkei Stock Average closed down 116 points from the previous week at 56,825. The week's low was on the 17th (Tuesday) at 56,135. The week's high was on the 19th (Thursday) at 57,709. The week's range moved between the weekly downside support line and the weekly upside resistance line, so it was neutral. Therefore, the bullish streak may have ended. However, the week’s closing price was 12 weeks above the weekly trend indicator point (TIP) in 13 weeks. Therefore the underlying trend remains in an ‘uptrend’ state.

2. Cycles

As previously noted, in "Forecast 2026" the long-term market cycle duration for the Nikkei Stock Average has been changed from 17 years to 19 years. However, there is no change to the starting point of 28 October 2008 at 6,994. Therefore, where this 19-year cycle bottoms, or whether it has not yet bottomed, will be the focus in 2026.

Please refer to the PDF file for the continuation.

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