MMA Weekly Report Nikkei Stock Average By Raymond Merriman Oct.24 2022

1. Overview

The Nikkei Stock Average closed last week at 26,890, down 200 points from the previous week. The week's low was 26,649 on Monday the 17th. The week's high was 27,371 on Wednesday the 19th. Since the closing price traded between the weekly support line and the upper resistance line, it remained neutral for the second consecutive week. However, because this closing value surpassed the weekly trend indicator point (TIP) for the second consecutive week, the underlying trend remains in a “neutral” state.

2. Cycles

As I also explain in my book “Forecast 2022,” the Nikkei Stock Average has a long-term market cycle of 17 years.

The starting point is October 28, 2008, at 6,994, and 2022 is the 14th year from that starting point.

This cycle is divided into two 8.33-year segments, with the “double bottom” at June 24, 2016 (14,864) and February 12, 2016 (14,865) marking the end of the first half. The second half (the 2nd–8.33-year cycle) has begun from here.

To continue, please view the PDF.

* MMA Report is prepared from Meriman’s (Meriamn?) unique perspective for information purposes and does not provide buy/sell recommendations.

* Please make your final investment decisions at your own responsibility.

* Unauthorized reproduction or distribution of this report constitutes a breach of contract. If such breach is detected, legal action may be taken. Even during the subscription period we may terminate the delivery. Thank you for your understanding and cooperation.