MMA Weekly Report Nikkei Stock Average By Raymond Merriman Aug.1 2022

1. Review

Last week the Nikkei 225 closed down 113 points from the previous week at 27,801. The week’s low was 27,525 on Wednesday the 27th. The week’s high was 28,015 on Thursday the 28th. The weekly range moved between the support line for the lows and the resistance line for the highs, so it was neutral.

However, the week’s close exceeded the Weekly Trend Indicator Point (TIP) for four consecutive weeks, so the underlying trend is still in an “upward trend” state.

2. Cycles

As I discuss in my book Forecast 2022, there exists a long-term market cycle of 17 years in the Nikkei 225.

Its starting point is October 28, 2008, at 6,994, and 2022 is 14 years from that starting point.

This cycle is split into two 8.33-year cycles, with the front half ending at a “double bottom” of 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) begins.

More details can be found in the PDF.

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