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

1. Review

Last week the Nikkei Stock Average closed at 39,810, down 340 points from the previous week. The week's high was 40,852 on Monday, June 30, and the week's low was 39,444 on Wednesday, July 2. The close for the week remained neutral as it moved between the lower support line and the upper resistance line. Furthermore, this close exceeded the weekly Trend Indicator Point (TIP) by 10 weeks out of 11, so the underlying trend remains in an “upward trend.”

2. Cycles

As explained in my book “Forecast 2025,” there is a long-term market cycle of 17 years in the Nikkei Average. Its starting point was 6,994 on October 28, 2008. This cycle divides into two parts on an 8.33-year basis; the first half ended with the “double bottom” at 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 marks the 17th year of the 17-year cycle.

For details, please refer to the PDF file.

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