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

1. Review

The Nikkei 225 stock average ended last week at 32,568, up 618 points from the previous week. The week's high was 30,538 on Monday the 6th. The week's low was 32,049 on Wednesday the 8th. Since the closing price for the week stayed within the weekly upper resistance zone, sentiment was almost bullish. Accordingly, the bullish streak is being maintained, and furthermore this closing price exceeded the Weekly Trend Indicator Point (TIP: last week 31,356) for the second consecutive week, but the overall trend remains in a “neutral” state.

2. Cycles

As explained in the Forecast 2024 to be released this December, there exists a long-term market cycle of 17 years in the Nikkei 225. Its starting point was October 28, 2008, at 6,994. 2023 is the 15th year of that cycle. This cycle is divided into 8.33-year segments.

It is split into two halves by an 8.33-year cycle, and the first half ends with a “double bottom” at 14,864 on June 24, 2016 and 14,865 on February 12 of the same year. From here, the second half (the 2nd 8.33-year cycle) begins.

Please see the rest in the PDF.

* MMA Report is prepared from Mr. Meriman's unique perspective for informational purposes and does not constitute a buy/sell recommendation.

* Please make investment decisions at your own risk.

* Unauthorized reproduction or distribution of this report is a breach of contract. If such breach is discovered, legal action may be taken, and even during your subscription period we may discontinue distribution. Thank you for your understanding and cooperation.