MMA Weekly Report Nikkei Average Stock Price By Raymond Merriman Oct.19 2026

1. Review

Last week, the Nikkei Stock Average closed at 65,324, down 3,706 points from the previous week. The week's high was on the 13th (Tuesday) at 68,710. The week's low was on October 15th (Thursday) at 64,092. The closing price for the week fell below the weekly support line, signaling a continuation of the previous week's bearish trigger and confirming a bearish sequence. In fact, this close price fell below the Weekly Trend Indicator Point (TIP) for the first time in four weeks. Therefore, the underlying trend has been downgraded from an “uptrend” back to “neutral.”

2. Cycles

As repeatedly stated, in “Forecast 2026,” we have changed the long-term market cycle duration for the Nikkei Stock Average from 17 years to 19 years. However, the starting point remains October 28, 2008, at 6,994. Therefore, where this 19-year cycle bottomed or whether it has not bottomed yet will be the focus in 2026. That said, there is no change to the view that the current market is composed of 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.

For more details, please see the PDF file.

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

＊ The final investment decision is made at your own responsibility.

＊ Unauthorized copying or distribution of our reports is a breach of contract. If any breach is discovered, legal action may be taken, and distribution will be terminated even within the subscription period. Thank you for your understanding and cooperation.