MMA Weekly Report Nikkei Stock Average By Raymond Merriman Jul. 22 2025

1. Review

Last week, the Nikkei Stock Average closed up 250 points from the previous week at 39,819. The week's low was 39,288 on Monday the 14th. The week's high was 40,087 on Friday the 18th. The week's low fell below the weekly downside support line but rebounded. The week's high exceeded the weekly upside resistance line but faded. Since the closing price remained within the range of the weekly upside resistance area, sentiment was largely bullish. Furthermore, this closing price was above the Weekly Trend Indicator Point (TIP) for 12 out of 13 weeks in the 13-week period. Therefore, the overall trend remains in an “upward” trend state.

2. Cycles

As explained in my book ‘Forecast 2025,’ the Nikkei Stock Average has a long-term cycle of 17 years. Its starting point was the 6,994 level on October 28, 2008. This cycle is divided into two 8.33-year periods, with the first half ending at 14,864 on June 24, 2016 and 14,865 on February 12, 2016, forming a “double bottom.” The second half (the 2nd 8.33-year cycle) then began. And 2025 is the 17th year of the 17-year cycle.

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