MMA Weekly Report Nikkei Stock Average By Raymond Merriman Feb.3 2025

1. Review

Last week the Nikkei Stock Average closed down 359 points from the previous week at 39,572. The week's high was January 27 (Monday) at 40,255. The week's low was January 28 (Tuesday) at 38,886. Although the weekly low fell below the lower support line, the close was above it, so it triggered a bullish signal. Furthermore, the close price this time also exceeded the Weekly Trend Indicator Point (TIP) for two consecutive weeks. However, the overall bias still appears to remain in 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 splits into 8.33-year segments, with the first half ending at June 24, 2016, at 14,864 and February 12, 2016, at 14,865, a “double bottom.” From there, the second half (the 2nd 8.33-year cycle) began. And 2024 was the 16th year of the 17-year cycle.

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