MMA Weekly Report Nikkei Stock Average By Raymond Merriman May 19, 2025

1. Retrospect

Last week the Nikkei Stock Average closed up 250 points from the previous week at 37,753. The week's low was 36,606 on Monday, May 12. The week's high was 38,494 on Tuesday, May 13. The week's high exceeded the weekly resistance line, but the closing price was below it, which is a bearish trigger. However, this closing price had remained above the Weekly Trend Indicator Point (TIP) for four consecutive weeks.

Therefore, the underlying trend remains in an “upward trend” state.

2. Cycles

As I explained in my book “Forecast 2025,” the Nikkei has a long-term market cycle of 17 years. The starting point was 6,994 on October 28, 2008. This cycle is divided into two 8.33-year segments, 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 2025 is the 17th year of a 17-year cycle.

For more, please refer to the PDF file.

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