MMA Weekly Report Nikkei Average Stock Price By Raymond Merriman Mar.13 2023

1. Review

The Nikkei stock average closed this past week at 28,143, up 216 points from the previous week. The week's high was on Thursday the 9th at 28,734. The week's low was on Friday the 10th at 28,143. Although the weekly high exceeded the resistance line, the closing price fell below it, triggering a bearish signal. However, because the closing price still exceeded the weekly Trend Indicator Point (TIP) for the eight consecutive weeks, the underlying trend remains in an “upward” state.

2. Cycles

As explained in “Forecast 2023,” published last December, the Nikkei stock average has a long-term 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 segments, with the first half ending at the double bottom of 14,864 on June 24, 2016 and 14,865 on February 12 of the same year. The second half (the 2nd–8.33 year cycle) has begun from here.

The continuation is available in the PDF.

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