MMA Weekly Report Nikkei Stock Average By Raymond Merriman Jul.19 2022

1. Retrospection

The Nikkei Stock Average closed last week up 271 points from the previous week at 26,788. The weekly high was 27,062 on Monday the 11th. The weekly low was 26,278 on Tuesday the 12th. Although the weekly high exceeded the upper resistance line, the closing price fell below it, indicating a bear trigger for two consecutive weeks. However, the weekly close was above the Weekly Trend Indicator Point (TIP) for the second consecutive week, but the underlying trend remains in a “neutral” state.

2. Cycles

As explained in my book Forecast 2022, the Nikkei stock average has a long-term market cycle of 17 years. Its start point is October 28, 2008, at 6,994, and 2022 marks 14 years from that point.

This cycle is divided into two 8.33-year cycles, with the first half ending in a “double bottom” at 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.

The continuation can be viewed in the PDF.

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