MMA Weekly Report Nikkei Stock Average By Raymond Merriman May 7, 2026

1. Review

The Nikkei stock average closed last week at 59,513, up 173 points from the previous week. The week's high was 60,903 on Monday, April 27. The week's low was 58,928 on Thursday, April 30. The weekly high exceeded the resistance line but then faded. It approached the weekly low but did not fall below and rebounded. At the closing price, it moved between the lower support line and the upper resistance line, so neutral, but slightly weak. However, this closing price has surpassed the Weekly Trend Indicator Point (TIP) for four consecutive weeks, and the all-time high was also updated. Therefore, the overall trend remains in a rising trend.

2. Cycles

As previously stated, in “Forecast 2026” the long-term market cycle for the Nikkei stock average has been changed from 17 years to 19 years. However, the starting point of October 28, 2008, at 6,994 remains unchanged. Therefore, where this 19-year cycle hits its bottom, 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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