MMA Weekly Report Nikkei Stock Average By Raymond Merriman Oct.3 2022

1. Review

Last week, the Nikkei Stock Average closed at 25,937, down 1,216 points from the previous week. The week's high was 26,779 on Wednesday, September 26. The week's low was 25,805 on Friday, the 30th. The closing price was below the weekly support line, so sentiment remained bearish. Furthermore, this closing price was below the Weekly Trend Indicator Point (TIP) for the fifth consecutive week, so the overall trend remains in a downward state.

2. Cycles

As explained in my book 'Forecast 2022', the Nikkei Stock Average has a long-term market cycle of 17 years. Its starting point is 6,994 on October 28, 2008, and 2022 marks the 14th year from that start.

This cycle is divided into two parts by an 8.33-year cycle, with the first half ending at the double bottom of 14,864 on June 24, 2016 and 14,865 on February 12, the same year. From here, the second half (the 2nd-8.33 year cycle) begins.

To continue, please refer to the PDF.

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