MMA Weekly Report Nikkei Stock Average By Raymond Merriman Feb.10 2025

1. Review

The Nikkei Stock Average closed last week at 38,787, down 785 points from the previous week. The week's low was 38,401 on Monday the 3rd. The week's high was 39,192 on Tuesday the 4th. The closing price fell below the weekly support line, so the outlook was bearish. Furthermore, this closing price also fell below the Weekly Trend Indicator Point (TIP) for the first time in three weeks. However, the overall trend still appears to be maintaining a “neutral” state.

2. Cycles

As 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 two 8.33-year 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. Then the second half (second 8.33-year cycle) began. And 2024 was the 16th year of the 17-year cycle.

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