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

1. Review

Last week, the Nikkei Stock Average closed at 41,456, up 1,637 points from the previous week. The week's low was on the 22nd (Tuesday) at 39,586. The week's high was on the 24th (Thursday) at 42,065. Since the closing price for the week surpassed the upside resistance line, sentiment was bullish. This marks a streak of bullishness. In fact, this closing price was 13 weeks above the Week Trend Indicator Point (TIP) out of 14 weeks. Therefore, the underlying tone remains in an “uptrend” state.

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 on October 28, 2008. This cycle divides into two 8.33-year subcycles, with the first half ending at 14,864 on June 24, 2016 and 14,865 on February 12 of the same year, forming a “double bottom.” The second half (the 2nd to 8.33-year cycle) then began. And 2025 is the 17th year of the 17-year cycle.

For details, please refer to the PDF file.

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