NYSEARCA ยท ETF ยท ENHANCED MARKET DYNAMICS

HEFT

HEDGEYE FOURTH TURNING ETF

US

EMD SCORE52/100

CURRENT COMPLETED-WEEK READ

Balanced

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

Constructive build33% directional agreement67% evidence confidence
Completed week
18 Sep 2026
Latest close
USD 26.46
Evidence
44 weeks

COMPLETED-WEEK OVERVIEW

Price and market conditions over time

2 supportive ยท 1 cautious

Enhanced Market Dynamics and the price cycle156 completed weeks ยท bars use the left EMD axis; price uses the right axis.
21 Nov 2025โ€“18 Sep 2026
CONSTRUCTIVE PRESSURE CAUTIOUS PRESSURE EMD PRICE ยท USD +100+500-50-100 27.6426.2624.89 21 Nov 2025 ยท EMD 46/100 ยท close 25.03 28 Nov 2025 ยท EMD 50/100 ยท close 25.45 5 Dec 2025 ยท EMD 43/100 ยท close 25.36 12 Dec 2025 ยท EMD 48/100 ยท close 25.35 19 Dec 2025 ยท EMD 47/100 ยท close 25.33 26 Dec 2025 ยท EMD 49/100 ยท close 25.70 2 Jan 2026 ยท EMD 48/100 ยท close 25.48 9 Jan 2026 ยท EMD 53/100 ยท close 26.30 16 Jan 2026 ยท EMD 55/100 ยท close 26.83 23 Jan 2026 ยท EMD 58/100 ยท close 27.38 30 Jan 2026 ยท EMD 46/100 ยท close 27.09 6 Feb 2026 ยท EMD 50/100 ยท close 27.13 13 Feb 2026 ยท EMD 50/100 ยท close 27.18 20 Feb 2026 ยท EMD 52/100 ยท close 27.24 27 Feb 2026 ยท EMD 54/100 ยท close 27.49 6 Mar 2026 ยท EMD 47/100 ยท close 26.90 13 Mar 2026 ยท EMD 49/100 ยท close 26.85 20 Mar 2026 ยท EMD 46/100 ยท close 26.35 27 Mar 2026 ยท EMD 54/100 ยท close 26.85 3 Apr 2026 ยท EMD 50/100 ยท close 26.74 10 Apr 2026 ยท EMD 49/100 ยท close 26.33 17 Apr 2026 ยท EMD 46/100 ยท close 25.60 24 Apr 2026 ยท EMD 51/100 ยท close 25.81 1 May 2026 ยท EMD 49/100 ยท close 26.17 8 May 2026 ยท EMD 51/100 ยท close 26.69 15 May 2026 ยท EMD 50/100 ยท close 26.89 22 May 2026 ยท EMD 49/100 ยท close 26.94 29 May 2026 ยท EMD 50/100 ยท close 26.97 5 Jun 2026 ยท EMD 45/100 ยท close 26.21 12 Jun 2026 ยท EMD 63/100 ยท close 26.51 19 Jun 2026 ยท EMD 61/100 ยท close 26.49 26 Jun 2026 ยท EMD 52/100 ยท close 26.34 3 Jul 2026 ยท EMD 50/100 ยท close 26.22 10 Jul 2026 ยท EMD 50/100 ยท close 26.24 17 Jul 2026 ยท EMD 48/100 ยท close 26.17 24 Jul 2026 ยท EMD 49/100 ยท close 26.29 31 Jul 2026 ยท EMD 47/100 ยท close 26.11 7 Aug 2026 ยท EMD 52/100 ยท close 26.40 14 Aug 2026 ยท EMD 51/100 ยท close 26.66 21 Aug 2026 ยท EMD 50/100 ยท close 26.69 28 Aug 2026 ยท EMD 49/100 ยท close 26.60 4 Sep 2026 ยท EMD 56/100 ยท close 26.63 11 Sep 2026 ยท EMD 53/100 ยท close 26.50 18 Sep 2026 ยท EMD 52/100 ยท close 26.46 9 Jan 2026 ยท Up-cycle confirmed ยท close 26.30 17 Apr 2026 ยท Down-cycle confirmed ยท close 25.60 21 Nov 202524 Apr 202618 Sep 2026
Constructive EMDCautious EMDCompleted-week priceUp-cycle confirmationDown-cycle confirmation
Cycle position 52%Current EMD +4.64-week EMD change +5.4156-week price range USD 25.03โ€“27.49

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

52/100-0.13

Strengthening beneath price
4-week change +0.33

02

Trend and deviation

32/100-0.2% vs Trend Line

Price structure is below its trend baseline
Trend gate inactive

03

Momentum and SMI

58/1004w -0.9% ยท 13w -0.1%

Momentum is supportive
SMI 0.41

04

Price-volume pressure

51/10051% constructive pressure

Volume is confirming the close
Volume ratio 0.35x

05

Modeled Trend

71/100Modeled Trend 0.32

Modeled Trend is supportive
Smoothed Modeled Trend 0.39

Evidence context