MMA Weekly Report Nikkei 225 By Raymond Merriman Nov.18 2024

1. Review

Last week, the Nikkei Stock Average closed at 38,642, down 857 points from the previous week. The week's high was 39,866 on the 12th (Tuesday). The week's low was 38,642 on the 14th (Thursday). The closing price moved between the weekly support and resistance lines, so the week was neutral.

However, this closing price exceeded the Weekly Trend Indicator Point (TIP) for two consecutive weeks. Nevertheless, the overall trend is still considered to remain in a “neutral” state.

2. Cycles

This will be explained even in the December issue of 'Forecast 2025', but there is a long-term market cycle of 17 years in the Nikkei Stock Average. Its starting point is October 28, 2008, at 6,994. This cycle is divided into two 8.33-year cycles, and the first half ends with the “double bottom” of 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. Therefore, 2024 corresponds to year 16 of the 17-year cycle.

Please see the continuation in the PDF file.

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