MMA Weekly Report Nikkei Stock Average By Raymond Merriman Oct.11 2022

1. Review

The Nikkei Stock Average closed last week at 27,116, up 1,178 points from the previous week. The week's low was 25,621 on Monday the 3rd. The week's high was 27,399 on Thursday the 6th. The close above the weekly upper resistance line suggested a bullish tone. However, since this closing price remained below the Weekly Trend Indicator Point (TIP) for six consecutive weeks, the underlying trend is still in a “downtrend” state.

2. Cycles

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

This cycle is divided into two 8.33-year segments, with the early phase ending at the “double bottom” of 14,864 on June 24, 2016 and 14,865 on February 12 of the same year. From here, the latter half (the 2nd 8.33-year cycle) has begun.

Please see the continuation in the PDF.

* MMA Report is prepared from Meriman’s unique perspective for the purpose of providing information and does not contain buy/sell recommendations.

* Please make the final investment decisions at your own risk.

* Unauthorized copying or distribution of this report constitutes a breach of contract. If such breach is discovered, legal action may be taken, and distribution may be terminated even within your subscription period. Thank you for your understanding and cooperation.