MMA Weekly Report Nikkei Average Stock Price By Raymond Merriman Oct.5 2026

1. Review

Last week the Nikkei 225 Average closed up 1,945 points from the previous week at 68,309. The week's low was 64,699 on September 29 (Tuesday). The week's high was 68,995 on October 1 (Thursday). Since the closing price exceeded the weekly upper resistance line, the market was bullish. In fact, this closing price exceeded the weekly Trend Indicator Point (TIP) for the second consecutive week. Therefore, the overall trend remains in a “neutral” state.

2. Cycles

As previously stated, the Forecast 2026 changes the long-term market cycle duration for the Nikkei 225 from 17 years to 19 years. However, there is no change to the starting point at 6,994 on October 28, 2008. 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 to the view that the current market is built on a four-year cycle, and the development of future long-term market cycles will continue to be influenced by the recent PC (typically 12–20 weeks) movements.

Please see the continuation in the PDF file.

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