MMA Weekly Report Nikkei Stock Average By Raymond Merriman Jul.25 2022

1. Review

Last week’s Nikkei Average rose by 1,126 points from the previous week, closing at 27,914. The week's low was on the 19th (Tuesday) at 26,791. The week's high was on the 22nd (Monday) at 27,952. Since the weekly close exceeded the upper resistance line, sentiment was bullish. The weekly close also exceeded the Weekly Trend Indicator Point (TIP) for three consecutive weeks, so the trend has been upgraded to a bullish phase of “uptrend.”

2. Cycles

As explained in my book “Forecast 2022,” the Nikkei Average has a long-term market cycle of 17 years. The starting point is October 28, 2008 at 6,994, and 2022 marks 14 years from that starting point.

This cycle is divided into two phases by an 8.33-year cycle, and the front half ends with a “double bottom” at 14,864 on June 24, 2016 and 14,865 on February 12 of the same year. From here, the second half (the 2nd–8.33 year cycle) has begun.

Further details are available in the PDF.

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