MMA Weekly Report Nikkei Stock Average by Raymond Merriman Jan. 30, 2023

1. Review

The Nikkei Stock Average closed last week at 27,382, up 829 points from the previous week. The week’s low was 26,788 on Monday the 23rd. The week’s high was 27,502 on Thursday the 26th. Since the closing price for the week closed above the upper resistance line for the week, it remains bullish for two consecutive weeks. Furthermore, the weekly closing price also surpassed the Weekly Trigger Indicator Point (TIP) for the second consecutive week, but the overall trend remains in a “neutral” state.

2. Cycles

As explained in “Forecast 2023,” there exists a long-term market cycle of 17 years in the Nikkei Stock Average. The starting point is October 28, 2008, at 6,994. 2023 is the 15th year of that cycle. This cycle is divided into two by an 8.33-year cycle, with the first half ending at the “double bottom” between June 24, 2016, at 14,864 and February 12, 2016, at 14,865. The second half (the 2nd–8.33-year cycle) has begun from here.

Please see the continuation in the PDF.

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