MMA Weekly Report Nikkei Stock Average By Raymond Merriman Sep.30 2024

1. Retrospective

Last week the Nikkei 225 average closed up 2,106 points from the previous week at 39,829. The week's low was 37,868 on Wednesday, the 25th. The week's high was 39,829 on Friday, the 27th. The closing price was above the weekly resistance line, so sentiment is bullish. The current trend has been bullish for several consecutive weeks. Furthermore, this closing price surpassed the Weekly Trend Indicator Point (TIP) for two consecutive weeks. However, the overall trend remains in a “neutral” state.

2. Cycles

This is something I intend to discuss in the December release of ‘Forecast 2025,’ but the Nikkei 225 has a long-term cycle of 17 years. The starting point is October 28, 2008, at 6,994. This cycle is divided into two 8.33-year segments, with the first half ending on June 24, 2016, at 14,864, and the following February 12, 2016, at 14,865 forming a double bottom. The second half (the 2nd to the 8.33-year cycle) has begun. Therefore, 2024 corresponds to the 16th year of the 17-year cycle.

For details, please refer to the PDF file.

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