MMA Weekly Report Nikkei Stock Average By Raymond Merriman Nov.16 2026

1. Review

Last week, the Nikkei 225 stock average closed at 61,142, up 3,708 points from the previous week. The week’s low was on Monday the 9th at 57,775. The week’s high was on Friday the 13th at 61,902. The week’s high exceeded the weekly resistance line, but pulled back. However, since the closing price stayed within this zone, the overall mood was largely bullish. Therefore, the likelihood that the sequence of bearishness has ended is high. That said, this closing price was five weeks in a row below the Weekly Trend Indicator Point (TIP). Therefore, the underlying trend remains in a “downtrend” state.

2. Cycles

As previously stated, in “Forecast 2026” the long-term market cycle for the Nikkei stock average has been adjusted from 17 years to 19 years. However, the starting point of 2008-10-28 at 6,994 remains unchanged. Therefore, where this 19-year cycle has bottomed, or whether it has not yet bottomed, will be the focus in 2026. However, there is no change in the view that the current market is composed of a four-year cycle, and the development of future long-term market cycles will still be influenced by the near-term PC (typically 12–20 weeks) movements.

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