MMA Weekly Report Nikkei Average Stock Price By Raymond Merriman Jun.8 2026

1. Review

The Nikkei Stock Average closed last week at 66,588, up 258 points from the previous week. The week's low was 65,551 on Tuesday the 2nd. The week's high was 68,786 on Wednesday the 3rd. Although the week's high surpassed the weekly upside resistance line, the closing price fell short, triggering a bearish signal; however, it is not yet clear whether the bullish streak has ended. In fact, the closing price for the week exceeded the Weekly Trend Indicator Point (TIP) for nine consecutive weeks. Therefore, the underlying trend remains in an “uptrend” state.

2. Cycles

As we have stated before, in “Forecast 2026,” the long-term market cycle duration for the Nikkei Stock Average has been adjusted from 17 years to 19 years. However, the starting point at October 28, 2008, of 6,994 remains unchanged. Therefore, where this 19-year cycle bottoms, or whether it has not yet bottomed, will be a focus in 2026. That said, there is no change in the view that the current market is structured as a 4-year cycle, and the development of future long-term market cycles will still be influenced by short-term movements (typically 12–20 weeks).

Please refer to the PDF file for the continuation.

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