MMA Weekly Report Nikkei Stock Average By Raymond Merriman Apr.21 2025

1. Review

Last week the Nikkei stock average closed up 1,145 points from the previous week at 34,730. The week's low was 33,658 on Wednesday the 16th. The week's high was 34,758 on Friday the 18th. At the closing price for the week, it moved between the weekly downside support line and the weekly upside resistance line, so it was neutral. However, this closing price was below the weekly Trend Indicator Point (TIP) for 11 weeks, 10 weeks into the period. Therefore the overall trend remains in a “downward trend” state.

2. Cycles

As I explained in my book “Forecast 2025,” there is a long-term market cycle of 17 years in the Nikkei 225. The starting point was 6,994 on October 28, 2008. This cycle is divided into two halves by an 8.33-year cycle, with the first half ending at 14,864 on June 24, 2016 and 14,865 on February 12 of the same year in a “double bottom.” From there the second half (the 2nd–8.33 year cycle) began. And 2025 is the 17th year of the 17-year cycle.

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