MMA Weekly Report Nikkei Average Stock Price By Raymond Merriman Sep.28 2026

1. Review

Last week the Nikkei Stock Average closed at 66,364, up 1,346 points from the previous week. The week's low was on the 24th (Thursday) at 65,407. The week's high was on the 25th (Friday) at 66,410. The week's high exceeded the upper resistance line, but since the closing price remained within this area, sentiment was mostly bullish. In fact, this closing price exceeded the Weekly Trend Indicator Point (TIP) for the first time in five weeks. Therefore, the overall trend has been upgraded from a “downtrend” to “neutral.”

2. Cycles

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

To continue, please refer to the PDF file.

* MMA Report is prepared from Meriman’s (Men’s?) unique perspective for information purposes and does not provide buy/sell recommendations.

* Please make your final investment decisions at your own responsibility.

* Unauthorized copying or distribution of our reports is a contract violation. If any violation is discovered, legal action may be taken. Even within the subscription period, we may terminate the delivery. We appreciate your understanding and cooperation.