MMA Weekly Report Nikkei Stock Average By Raymond Merriman Dec.23 2024

【Notice】The December 30 issue will be on hiatus, and we will resume with the January 6, 2025 issue. Have a wonderful year-end and New Year.Raymond A. Meriman

1. Reflections

Last week the Nikkei 225 ended up 769 points from the previous week at 38,701. The week's high was 39,796 on the 17th (Tuesday). The week's low was 38,355 on the 19th (Thursday). Since the closing price for the week fell below the weekly downside support line, it appeared to carry over the previous week's bearish trigger, making this a continuation of bearish sentiment. This is a streak of bearishness. Moreover, this closing price fell below the Weekly Trend Indicator Point (T.I.P.) for the first time in three weeks. However, the overall trend still seems to remain in a “neutral” state.

2. Cycles

As discussed in this week's release of “Forecast 2025,” there is a long-term cycle of 17 years in the Nikkei 225.

Its starting point was October 28, 2008, at 6,994. This cycle divides into 8.33-year segments, with the first half ending at the “double bottom” of June 24, 2016 at 14,864 and February 12, 2016 at 14,865. From there, the second half (the 2nd 8.33-year cycle) began. Therefore, 2024 was the 16th year of the 17-year cycle.

To read more, please refer to the PDF file.

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