MMA Weekly Report Nikkei Stock Average By Raymond Merriman Dec.16 2024

1. Review

The Nikkei Stock Average ended last week at 39,470, up 379 points from the previous week. The week's low was 38,972 on Monday the 9th. The week's high was 40,091 on Thursday the 12th. The high for the week exceeded the upside resistance line, but the closing price fell short, triggering a bearish signal. However, this closing price exceeded the Weekly Trend Indicator Point (TIP) for two consecutive weeks. Nevertheless, the overall trend appears to remain in a 'neutral' state.

2. Cycles

This will be explained in the December release of 'Forecast 2025', but the Nikkei Stock Average has a long-term market 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 at June 24, 2016, at 14,864 and February 12, 2016, at 14,865, forming a 'double bottom'. The second half (the 2nd to the 8.33-year cycle) began from there. Therefore, 2024 was the 16th year of the 17-year cycle.

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