MMA Weekly Report Nikkei Stock Average By Raymond Merriman Mar.24 2025

1. Overview

Last week, the Nikkei Stock Average closed up 623 points from the previous week at 37,677. The week’s low was on Monday the 17th at 37,377. The week’s high was on Wednesday the 19th at 38,128. Although the week’s high surpassed the upper resistance line, the close stayed within this area, so sentiment was nearly bullish. In fact, the week’s closing price surpassed the Weekly Trend Indicator Point (TIP) for the first time in seven weeks. Therefore, the underlying trend has been upgraded from “downward trend” to “neutral.”

2. Cycles
As I explained in my book “Forecast 2025,” there is a long-term market cycle of 17 years in the Nikkei Stock Average. Its starting point was October 28, 2008, at 6,994. This cycle is divided into two 8.33-year segments, the first half ending with the “double bottom” at 14,864 on June 24, 2016 and 14,865 on February 12, 2016. From there, the second half (the 2nd–8.33 year cycle) began. And 2024 was the 16th year of the 17-year cycle.

For the continuation, please refer to the PDF file.

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