MMA Weekly Report Nikkei Stock Average By Raymond Merriman Apr.28 2025

1. Review

Last week the Nikkei Stock Average rose by 975 points from the previous week to 35,705 at close. The week's low was on the 22nd (Tuesday) at 34,109. The week's high was on the 25th (Friday) at 35,835. At the close, it closed above the weekly resistance line, indicating a bullish outlook. Furthermore, this closing level was above the Weekly Trend Indicator Point (TIP) after having been below it for 10 of the 11 weeks, which suggests that the overall tone has been upgraded from the previously forecast “declining trend” to “neutral.”

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 the 6,994 level on October 28, 2008. This cycle is divided into two 8.33-year segments, with the first half ending at the double bottom of June 24, 2016's 14,864 and February 12, 2016's 14,865. From here, the second half (the 2nd 8.33-year cycle) began. And 2025 marks the 17th year of this 17-year cycle.

Please refer to the PDF file for the continuation.

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