MMA Weekly Report Nikkei Stock Average By Raymond Merriman Feb.20 2023

【Notice】

From this weekend to early next week I will be away all day, so the February 27 issue will be on pause.

We have received contact from Mr. Melman. Please understand and thank you for your cooperation.

1. Review

Last week the Nikkei Stock Average closed at 27,513, down 157 points from the previous week. The week's low was 27,266 on Monday the 13th. The week's high was 27,727 on Thursday the 16th. Although the week's low price fell below the weekly downside support line, the closing price was above it, triggering a bullish signal. Furthermore, this closing price has remained above the Weekly Trend Indicator Point (TIP) for five consecutive weeks, so the trend remains in an “upward trend.”

2. Cycles

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

Please see the continuation in the PDF.

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