MMA Weekly Report Nikkei Stock Average By Raymond Merriman Nov.27 2023

1. Review

Last week, the Nikkei Stock Average closed up 40 points from the previous week at 33,625. The week's low was 33,853 on Monday the 20th. The week's high was 33,182 on Wednesday the 22nd. Since the closing value moved within the lower support line and upper resistance line for the week, it was neutral.

However, the bullish streak is still viewed as being maintained. In fact, this closing value surpassed the Weekly Trend Indicator Point (TIP: 32,405 last week) for four consecutive weeks. Therefore, the current trend is in an “uptrend” state.

2. Cycles

As explained in the December 2024 issue of 'Forecast 2024', the Nikkei Stock Average has a long-term market cycle with an 17-year period. Its starting point is October 28, 2008, at 6,994. 2023 is its 15th year. This cycle is divided into two halves by an 8.33-year cycle, with the first half ending at 14,864 on June 24, 2016 and 14,865 on February 12, 2016, a “double bottom.”

From here, the second half (the 8.33-year cycle 2) has begun.

Please see the rest in the PDF.

* MMA Report is an analysis based on Mr. Meriman's unique perspective and is intended to provide information, not to give buy/sell recommendations.

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

* Unauthorized copying or distribution of our reports is a breach of contract. If such breach is detected, legal action may be taken, and distribution may be stopped during your subscription period. Thank you for your understanding and cooperation.