MMA Weekly Report Nikkei Average Stock Price By Raymond Merriman May.30 2022

1. Review

Last week, the Nikkei Stock Average closed up 42 points from the previous week at 26,781. The week's high was 27,047 on Monday the 23rd. The week's low was 26,578 on Wednesday the 25th. The weekly range moved between the lower support line and the upper resistance line, so it was neutral.

Moreover, this 8.33-year cycle consists of two four-year cycles, with the first-four-year cycle bottom emerging at 16,358 on March 19, 2020. The current (second) four-year cycle, starting from that low, reached its 26th month in May. If this cycle is composed similarly to the first-four-year cycle in three 16-month subcycles, then the first-16 month cycle would have bottomed on August 20 of last year at 26,954 (August 20–23 ± three trading days, ★★★ important change date). In reality, the market rebounded sharply from there, and on September 14 of that year (within the ★ significant change date area of September 15–16 ± three trading days), it registered 30,795, a 31-year high. But…

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