MMA Weekly Report Nikkei Stock Average By Raymond Merriman Dec.9 2024

1. Review

Last week the Nikkei Stock Average closed up 883 points from the previous week at 39,091. The week's low was on Monday the 2nd at 37,958. The week's high was on Thursday the 5th at 39,632. Since the closing price exceeded the weekly upside resistance line, it was considered bullish. Additionally, this closing price surpassed the Weekly Trend Indicator Point (TIP) for the first time in three weeks, but the underlying trend is still viewed as remaining in a “neutral” state.

2. Cycles

This is explained in this month’s release, Forecast 2025, but the Nikkei Stock Average has a long-term 17-year cycle. The starting point is 6,994 on October 28, 2008. This cycle is divided into two 8.33-year segments, ending the first half with the “double bottom” formed by 14,864 on June 24, 2016 and 14,865 on February 12 of the same year. From there, the second half (the 2nd–8.33-year cycle) began. Therefore, 2024 was the 16th year of the 17-year cycle.

Please refer to the PDF file for the continuation.

＊ MMA Report is prepared from Mr. Meriman’s unique perspective for information provision and is not intended to provide buy/sell recommendations.

＊ The final investment decision should be made at your own responsibility.

＊ Unauthorized copying or distribution of our reports constitutes a breach of contract. If such breach is discovered, legal action may be taken, and distribution could be terminated even within the subscription period. Thank you for your understanding and cooperation.