MMA Weekly Report Nikkei Stock Average By Raymond Merriman Aug.16 2021

1. Review
Last week the Nikkei 225 closed up 157 points from the previous week at 27,977. The week's low remained within the area of the ★★★ important turning date (August 4–5, ±3 trading days) at 27,808 on Tuesday the 10th. The week's high was 28,279 on Thursday the 12th. Since the closing price approached the weekly upside resistance line, sentiment was almost bullish. This closing price exceeded the weekly Trend Indicator Point (TIP) for two consecutive weeks, but the underlying trend remains neutral.

2. Cycles
As explained in my book Forecast 2021, there is a long-term market cycle of about 17 years in the Nikkei 225. The starting point is October 28, 2008, at 6,994, and this year marks the 13th year since that starting point.

The 17-year cycle is divided into two 8.33-year cycles, with the first half ending at the double bottom of 14,864 on June 24, 2016 and 14,865 on February 12, 2016. From here, the second half (the 2nd-8.33 year cycle) has begun.