MMA Weekly Report Nikkei Stock Average By Raymond Merriman Jan.20 2025

1. Review

Last week, the Nikkei Stock Average closed at 38,451, down 738 points from the previous week. The weekly high was on the 14th (Tuesday) at 39,054. The weekly low was on the 17th (Friday) at 38,055. The close for the week fell below the weekly downside support line, marking two consecutive weeks of bearishness. Therefore, the streak of weakness probably has not ended yet. In fact, this closing value was below the Weekly Trend Indicator Point (TIP) for two consecutive weeks. However, the underlying trend still appears to be maintaining a “neutral” state.

2. Cycles

As I explained in my book “Forecast 2025,” the Nikkei Stock Average has a long-term market cycle of 17 years. The starting point was 6,994 on October 28, 2008. This cycle is divided into two 8.33-year sub-cycles, with the first half ending at 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) began. And 2024 was the 16th year of the 17-year cycle.

For details, please refer to the PDF file.

* MMA Report is analyzed from Mr. Meriman's unique perspective and is prepared for information purposes and does not provide buying or selling recommendations.

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

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