MMA Weekly Report Nikkei Stock Average By Raymond Merriman Apr.7 2025

1. Review

The Nikkei Stock Average closed last week at 33,780, down 3,339 points from the previous week. The high for the week was 36,440 on Monday, March 31.

The low for the week was 33,259 on Friday, April 4. The closing price for the week remained below the weekly support line for the second week in a row, signaling weakness. Furthermore, this closing price was below the Weekly Trend Indicator Point (TIP) in 8 of 9 weeks. Therefore, the underlying trend continues to be in a “downtrend” state.

2. Cycles

As explained in my book “Forecast 2025,” the Nikkei 225 has a long-term market cycle of 17 years. Its starting point was 6,994 on October 28, 2008. This cycle splits into an 8.33-year cycle, and the first half ended with 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.

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