MMA Weekly Report Nikkei Stock Average By Raymond Merriman Mar.31 2025

1. Review

The Nikkei Stock Average closed last week down 556 points from the previous week at 37,120. The week's high was 38,220 on Wednesday the 26th. The week's low was 37,120 on Friday the 28th. Although the week's high exceeded the intraday resistance level, it retreated. Since the closing price for the week fell below the weekly support line, the outlook was very bearish. This closing price also fell below the Weekly Trend Indicator Point (TIP) for seven of the eight weeks. Therefore, the underlying trend has been downgraded from “Neutral” again to a “Downtrend.”

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 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, 2016. 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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