MMA Weekly Report Nikkei Stock Average By Raymond Merriman Sep.20 2022

1. Review

Last week, the Nikkei Stock Average closed at 27,567, down 647 points from the previous week. The week's high was 28,659 on the 13th (Tuesday). The week's low was 27,525 on the 16th (Friday). Since the closing price remained within the weekly lower support area, sentiment was almost bearish. Furthermore, this closing price had fallen below the Weekly Trend Indicator Point (TIP) for the third consecutive week, so the underlying trend was downgraded from “neutral” to “downward trend.”

2. Cycles

As described in my book “Forecast 2022,” there exists a long-term market cycle of 17 years for the Nikkei stock average. Its starting point is October 28, 2008, at 6,994, and 2022 is 14 years from that starting point.

This cycle is divided into two 8.33-year segments, 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.

The continuation is available in the PDF.

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