NASDAQ ยท ETF ยท ENHANCED MARKET DYNAMICS

VGSH

VANGUARD SHORT-TERM TREASURY INDEX FUND ETF SHARES

US

EMD SCORE43/100

CURRENT COMPLETED-WEEK READ

Balanced

Constructive and cautious evidence are close enough to require confirmation. Conditions are cautious and have weakened over the latest four completed weeks.

Deterioration33% directional agreement79% evidence confidence
Completed week
11 Sep 2026
Latest close
USD 57.69
Evidence
156 weeks

COMPLETED-WEEK OVERVIEW

Price and market conditions over time

2 supportive ยท 4 cautious

Enhanced Market Dynamics and the price cycle156 completed weeks ยท bars use the left EMD axis; price uses the right axis.
22 Sep 2023โ€“11 Sep 2026
CONSTRUCTIVE PRESSURE CAUTIOUS PRESSURE EMD PRICE ยท USD +100+500-50-100 58.6854.9151.14 22 Sep 2023 ยท EMD 50/100 ยท close 51.55 29 Sep 2023 ยท EMD 51/100 ยท close 51.59 6 Oct 2023 ยท EMD 51/100 ยท close 51.62 13 Oct 2023 ยท EMD 54/100 ยท close 51.70 20 Oct 2023 ยท EMD 57/100 ยท close 51.71 27 Oct 2023 ยท EMD 65/100 ยท close 51.80 3 Nov 2023 ยท EMD 65/100 ยท close 52.02 10 Nov 2023 ยท EMD 58/100 ยท close 51.88 17 Nov 2023 ยท EMD 64/100 ยท close 52.08 24 Nov 2023 ยท EMD 61/100 ยท close 52.09 1 Dec 2023 ยท EMD 67/100 ยท close 52.46 8 Dec 2023 ยท EMD 59/100 ยท close 52.37 15 Dec 2023 ยท EMD 65/100 ยท close 52.68 22 Dec 2023 ยท EMD 64/100 ยท close 52.84 29 Dec 2023 ยท EMD 70/100 ยท close 52.92 5 Jan 2024 ยท EMD 61/100 ยท close 52.81 12 Jan 2024 ยท EMD 65/100 ยท close 53.09 19 Jan 2024 ยท EMD 59/100 ยท close 52.89 26 Jan 2024 ยท EMD 62/100 ยท close 52.96 2 Feb 2024 ยท EMD 58/100 ยท close 52.98 9 Feb 2024 ยท EMD 56/100 ยท close 52.92 16 Feb 2024 ยท EMD 58/100 ยท close 52.81 23 Feb 2024 ยท EMD 55/100 ยท close 52.81 1 Mar 2024 ยท EMD 60/100 ยท close 52.97 8 Mar 2024 ยท EMD 58/100 ยท close 53.07 15 Mar 2024 ยท EMD 52/100 ยท close 52.87 22 Mar 2024 ยท EMD 58/100 ยท close 53.05 29 Mar 2024 ยท EMD 54/100 ยท close 53.04 5 Apr 2024 ยท EMD 52/100 ยท close 52.98 12 Apr 2024 ยท EMD 53/100 ยท close 52.88 19 Apr 2024 ยท EMD 55/100 ยท close 52.85 26 Apr 2024 ยท EMD 53/100 ยท close 52.88 3 May 2024 ยท EMD 54/100 ยท close 53.10 10 May 2024 ยท EMD 52/100 ยท close 53.10 17 May 2024 ยท EMD 54/100 ยท close 53.19 24 May 2024 ยท EMD 54/100 ยท close 53.14 31 May 2024 ยท EMD 58/100 ยท close 53.22 7 Jun 2024 ยท EMD 55/100 ยท close 53.26 14 Jun 2024 ยท EMD 60/100 ยท close 53.50 21 Jun 2024 ยท EMD 60/100 ยท close 53.51 28 Jun 2024 ยท EMD 59/100 ยท close 53.52 5 Jul 2024 ยท EMD 63/100 ยท close 53.69 12 Jul 2024 ยท EMD 64/100 ยท close 53.89 19 Jul 2024 ยท EMD 57/100 ยท close 53.87 26 Jul 2024 ยท EMD 66/100 ยท close 54.01 2 Aug 2024 ยท EMD 74/100 ยท close 54.55 9 Aug 2024 ยท EMD 60/100 ยท close 54.40 16 Aug 2024 ยท EMD 64/100 ยท close 54.46 23 Aug 2024 ยท EMD 67/100 ยท close 54.62 30 Aug 2024 ยท EMD 62/100 ยท close 54.63 6 Sep 2024 ยท EMD 72/100 ยท close 54.94 13 Sep 2024 ยท EMD 68/100 ยท close 55.05 20 Sep 2024 ยท EMD 69/100 ยท close 55.10 27 Sep 2024 ยท EMD 67/100 ยท close 55.14 4 Oct 2024 ยท EMD 59/100 ยท close 54.82 11 Oct 2024 ยท EMD 66/100 ยท close 54.85 18 Oct 2024 ยท EMD 66/100 ยท close 54.88 25 Oct 2024 ยท EMD 58/100 ยท close 54.77 1 Nov 2024 ยท EMD 56/100 ยท close 54.71 8 Nov 2024 ยท EMD 56/100 ยท close 54.72 15 Nov 2024 ยท EMD 56/100 ยท close 54.70 22 Nov 2024 ยท EMD 52/100 ยท close 54.69 29 Nov 2024 ยท EMD 55/100 ยท close 54.90 6 Dec 2024 ยท EMD 57/100 ยท close 55.02 13 Dec 2024 ยท EMD 51/100 ยท close 54.92 20 Dec 2024 ยท EMD 55/100 ยท close 54.90 27 Dec 2024 ยท EMD 56/100 ยท close 54.93 3 Jan 2025 ยท EMD 54/100 ยท close 55.02 10 Jan 2025 ยท EMD 53/100 ยท close 54.95 17 Jan 2025 ยท EMD 59/100 ยท close 55.11 24 Jan 2025 ยท EMD 58/100 ยท close 55.16 31 Jan 2025 ยท EMD 60/100 ยท close 55.25 7 Feb 2025 ยท EMD 57/100 ยท close 55.23 14 Feb 2025 ยท EMD 62/100 ยท close 55.31 21 Feb 2025 ยท EMD 63/100 ยท close 55.41 28 Feb 2025 ยท EMD 69/100 ยท close 55.66 7 Mar 2025 ยท EMD 65/100 ยท close 55.68 14 Mar 2025 ยท EMD 63/100 ยท close 55.70 21 Mar 2025 ยท EMD 74/100 ยท close 55.82 28 Mar 2025 ยท EMD 77/100 ยท close 55.89 4 Apr 2025 ยท EMD 79/100 ยท close 56.15 11 Apr 2025 ยท EMD 68/100 ยท close 55.90 18 Apr 2025 ยท EMD 80/100 ยท close 56.11 25 Apr 2025 ยท EMD 77/100 ยท close 56.18 2 May 2025 ยท EMD 65/100 ยท close 56.14 9 May 2025 ยท EMD 68/100 ยท close 56.12 16 May 2025 ยท EMD 64/100 ยท close 56.05 23 May 2025 ยท EMD 65/100 ยท close 56.13 30 May 2025 ยท EMD 64/100 ยท close 56.23 6 Jun 2025 ยท EMD 56/100 ยท close 56.12 13 Jun 2025 ยท EMD 61/100 ยท close 56.27 20 Jun 2025 ยท EMD 60/100 ยท close 56.35 27 Jun 2025 ยท EMD 60/100 ยท close 56.54 4 Jul 2025 ยท EMD 55/100 ยท close 56.44 11 Jul 2025 ยท EMD 60/100 ยท close 56.47 18 Jul 2025 ยท EMD 61/100 ยท close 56.53 25 Jul 2025 ยท EMD 57/100 ยท close 56.54 1 Aug 2025 ยท EMD 64/100 ยท close 56.81 8 Aug 2025 ยท EMD 58/100 ยท close 56.77 15 Aug 2025 ยท EMD 61/100 ยท close 56.82 22 Aug 2025 ยท EMD 66/100 ยท close 56.94 29 Aug 2025 ยท EMD 66/100 ยท close 57.04 5 Sep 2025 ยท EMD 65/100 ยท close 57.16 12 Sep 2025 ยท EMD 63/100 ยท close 57.18 19 Sep 2025 ยท EMD 60/100 ยท close 57.20 26 Sep 2025 ยท EMD 62/100 ยท close 57.15 3 Oct 2025 ยท EMD 65/100 ยท close 57.27 10 Oct 2025 ยท EMD 66/100 ยท close 57.36 17 Oct 2025 ยท EMD 66/100 ยท close 57.46 24 Oct 2025 ยท EMD 63/100 ยท close 57.48 31 Oct 2025 ยท EMD 60/100 ยท close 57.39 7 Nov 2025 ยท EMD 65/100 ยท close 57.48 14 Nov 2025 ยท EMD 58/100 ยท close 57.45 21 Nov 2025 ยท EMD 65/100 ยท close 57.61 28 Nov 2025 ยท EMD 62/100 ยท close 57.66 5 Dec 2025 ยท EMD 55/100 ยท close 57.61 12 Dec 2025 ยท EMD 62/100 ยท close 57.68 19 Dec 2025 ยท EMD 61/100 ยท close 57.78 26 Dec 2025 ยท EMD 61/100 ยท close 57.82 2 Jan 2026 ยท EMD 61/100 ยท close 57.85 9 Jan 2026 ยท EMD 57/100 ยท close 57.84 16 Jan 2026 ยท EMD 56/100 ยท close 57.81 23 Jan 2026 ยท EMD 62/100 ยท close 57.85 30 Jan 2026 ยท EMD 64/100 ยท close 57.96 6 Feb 2026 ยท EMD 64/100 ยท close 58.03 13 Feb 2026 ยท EMD 65/100 ยท close 58.17 20 Feb 2026 ยท EMD 62/100 ยท close 58.14 27 Feb 2026 ยท EMD 67/100 ยท close 58.28 6 Mar 2026 ยท EMD 61/100 ยท close 58.12 13 Mar 2026 ยท EMD 59/100 ยท close 57.98 20 Mar 2026 ยท EMD 56/100 ยท close 57.83 27 Mar 2026 ยท EMD 60/100 ยท close 57.86 3 Apr 2026 ยท EMD 58/100 ยท close 58.03 10 Apr 2026 ยท EMD 55/100 ยท close 58.06 17 Apr 2026 ยท EMD 55/100 ยท close 58.22 24 Apr 2026 ยท EMD 54/100 ยท close 58.19 1 May 2026 ยท EMD 53/100 ยท close 57.95 8 May 2026 ยท EMD 52/100 ยท close 57.98 15 May 2026 ยท EMD 48/100 ยท close 57.82 22 May 2026 ยท EMD 50/100 ยท close 57.86 29 May 2026 ยท EMD 51/100 ยท close 57.99 5 Jun 2026 ยท EMD 43/100 ยท close 57.86 12 Jun 2026 ยท EMD 47/100 ยท close 57.98 19 Jun 2026 ยท EMD 44/100 ยท close 57.94 26 Jun 2026 ยท EMD 52/100 ยท close 58.07 3 Jul 2026 ยท EMD 47/100 ยท close 57.90 10 Jul 2026 ยท EMD 44/100 ยท close 57.86 17 Jul 2026 ยท EMD 47/100 ยท close 57.95 24 Jul 2026 ยท EMD 44/100 ยท close 57.84 31 Jul 2026 ยท EMD 45/100 ยท close 57.75 7 Aug 2026 ยท EMD 46/100 ยท close 57.90 14 Aug 2026 ยท EMD 45/100 ยท close 57.97 21 Aug 2026 ยท EMD 44/100 ยท close 57.96 28 Aug 2026 ยท EMD 40/100 ยท close 57.88 4 Sep 2026 ยท EMD 48/100 ยท close 57.92 11 Sep 2026 ยท EMD 43/100 ยท close 57.69 2 Aug 2024 ยท Up-cycle confirmed ยท close 54.55 22 Sep 202321 Mar 202511 Sep 2026
Constructive EMDCautious EMDCompleted-week priceUp-cycle confirmationDown-cycle confirmation
Cycle position 82%Current EMD -13.84-week EMD change -3.6156-week price range USD 51.55โ€“58.28

THE FULL PRICE CYCLE

Follow the journey from one zone to the other

Each state uses completed-week information available at that point.

01

Lower zone

Price establishes residence near the bottom of its long-cycle range. Improving EMD separates early repair from continued deterioration.

02

Upward journey

Price leaves the lower zone while EMD confirms improving participation. The objective is the broader move toward the upper zone, not a short weekly trade.

03

Upper zone

Price establishes residence near the top of its long-cycle range. This is the profit-harvest area, with EMD watched for exhaustion and loss of support.

04

Downward journey

Price leaves the upper zone while EMD weakens. The reverse cycle remains active until lower-zone residence is confirmed again.

CURRENT READINGS

What the latest week shows

Completed-week values

01

Underlying pressure

40/100-0.36

Cautious pressure beneath price
4-week change +0.99

02

Trend and deviation

31/100-0.5% vs Trend Line

Price structure is below its trend baseline
Trend gate inactive

03

Momentum and SMI

58/1004w -0.5% ยท 13w -0.5%

Momentum is supportive
SMI 0.42

04

Price-volume pressure

34/10034% constructive pressure

Volume is leaning against the close
Volume ratio 1.02x

05

Relative leadership

16/100-10.04

The ticker is lagging its benchmark
4-week change +2.95

06

Modeled Trend

70/100Modeled Trend 0.30

Modeled Trend is supportive
Smoothed Modeled Trend 0.36

Evidence context