MMA Weekly Report Nikkei Stock Average By Raymond Merriman Jun.15 2026

1. Review

Last week the Nikkei 225 index closed down 568 points from the previous week at 66,020. The week's low was on the 11th (Thursday) at 62,335. The week's high was on the 12th (Friday) at 67,065. Although the week's low fell below the weekly downside support line, the close was above it, triggering a bullish signal. Therefore, the bullish streak is still likely to continue. In fact, the week's close exceeded the Weekly Trend Indicator Point (TIP) for the 10th consecutive week, so the underlying tone remains in an “upward trend.”

2. Cycles

As previously stated, in “Forecast 2026” the long-term market cycle duration for the Nikkei 225 has been changed from 17 years to 19 years. However, there is no change to the starting point of October 28, 2008, at 6,994. Accordingly, the question of where this 19-year cycle has bottomed or whether it has not yet bottomed becomes the focal point for 2026. That said, there is no change in the view that the current market is formed by a four-year cycle, and the future development of the long-term cycle will continue to be influenced by the near-term PC movement (usually 12–20 weeks). And at present, from the perspective of the long-term cycle, the very important lows are August 5, 2024 at 31,156 and April 7, 2025 at 30,792.

To continue, please refer to the PDF file.

* MMA Report is prepared from Mr. Meriman’s unique perspective for information provision and does not constitute a buy/sell recommendation.

* Final investment decisions should be made at your own responsibility.

* Unauthorized copying or distribution of this report is a breach of contract. If such breach is discovered, legal measures may be taken, and distribution may be terminated even within the subscription period. Thank you for your understanding and cooperation.