Wait for re-acceleration
Headline strength is not yet confirmed by the current Activity Line energy and constituent trend mix.
Defensive63/100Position
Computer Hardware
For the week ending 18 September 2026, Computer Hardware advanced 1.87% with 190 advancing, 99 declining, and 15 unchanged constituents.
Industry positioning postureWait for re-acceleration
Headline strength is not yet confirmed by the current Activity Line energy and constituent trend mix.
Industry evidence score63/100Wait
Index value1918.27
Weekly return1.87%
Measured equities304
Sibling rank4 of 12
156 completed weeks
Computer Hardware trend architecture
Price, Activity Lines, Trend Line and current Fair Value, with the recognized architecture behind each completed week.
ArchitectureDeceleration
Index vs Trend4.6%
13-week persistence-3.4%
Advancing participation63%
Index Value
Trend Line
Fair Value
Activity Lines
Constructive Transition Defensive
Positioning and relative evidence
Is Computer Hardware earning a place in the portfolio?
Technical evidence determines the posture. Sentiment remains a separate confirmation layer.
Five-pillar evidence
63Quality of the positioning case
Trend
71
Breadth
48
Persistence
53
Relative
73
Risk quality
87
Parent-relative performance
Composite rank 4 of 12Returns versus Technology
1 week1.9%0.4 pts
4 weeks1.0%0.4 pts
13 weeks-3.4%0.0 pts
26 weeks16.5%6.4 pts
52 weeks17.5%10.4 pts
Relative leadership path
WeakeningComputer Hardware versus Technology
Evidence ledger
Confirmation and conflict
+The index remains above a constructive Trend gate.
+Medium-term relative returns and peer standing remain constructive.
!Breadth remains too narrow or inconsistent for a high-conviction position.
!Constituent persistence remains divided or predominantly negative.
!The current 13-week parent-relative trend is weakening.
!Activity Line energy is decelerating despite the positive Trend gate.
!The index is extended well above current Fair Value, increasing chase risk.
Decision boundaries
What would change the posture?
1A completed weekly reclaim of 1,833.21, the higher of Trend Line and Fair Value, would improve the structural case.
2Breadth holding above 55% for several completed weeks would show that repair is spreading.
3Positive 13 and 26-week relative performance would confirm that capital is rotating into the group.
Trend state and durability
Architecture, persistence and constituent regimes
The industry index path is tested against the securities beneath it.
Index architecture
2 weeksDeceleration
The positive Trend gate remains, but fan energy or fast-line momentum is cooling.
Trend gateUpFan width1.25%Accepted above fan83%Accepted below fan0%
Six completed weeks of price acceptance relative to the full Activity Line fan.
Index persistence
75% agreementPositive regime, shorter trend weakening
The long trend remains positive, but the 13-week horizon has turned against it.
13-week
-3.4%
26-week
16.5%
39-week
22.4%
52-week
17.5%
Regime age65 weeks52-week flips052-week boundary1632.73
Constituent trend persistence
67% coverageHow broadly durable is the move?
53%positive
Coherent positive22%
Coherent negative20%
Horizon agreement79%
Weakening positives50
Repairing negatives26
204 constituents measured as of 18 Sep 2026.
Custom stage map
89% coverageWhere covered constituents sit in the cycle
39%Stage 4
Stage 1 Basing10%27
Stage 2 Advancing35%94
Stage 3 Distribution17%45
Stage 4 Declining39%106
Re-acceleration6Transition watch19Fair Value repairs17
Stage coverage is shown explicitly and is not substituted for full-universe persistence coverage.
Geographic diffusion
Where Computer Hardware strength is developing
Country returns, participation and Trend position show whether the global result is widely shared or locally concentrated.
Countries measured1925 represented in the full universe
Positive countries11 / 19Latest weekly return above zero
Above Trend Line74%14 country indexes
Return dispersion2.42 ptsCross-country opportunity and divergence
Other markets2.56%
1 countries · 110 equities · 36% of measured coverage
Asia Pacific2.56%
7 countries · 86 equities · 28% of measured coverage
North America1.92%
2 countries · 49 equities · 16% of measured coverage
Middle East and Africa0.71%
1 countries · 5 equities · 2% of measured coverage
Latin America0.16%
1 countries · 6 equities · 2% of measured coverage
Europe-0.14%
7 countries · 39 equities · 13% of measured coverage
Country evidence map
Minimum 3 constituentsReturn, breadth and trend condition
🇨🇳CN31
4.35%
77% up · below Trend
🇲🇽MX13
4.26%
85% up · above Trend
🇯🇵JP26
3.72%
85% up · above Trend
🇹🇼TW110
2.56%
75% up · above Trend
🇦🇹AT8
2.44%
50% up · above Trend
🇭🇰HK14
1.98%
57% up · above Trend
🇸🇪SE5
1.68%
60% up · below Trend
🇺🇸US36
1.07%
53% up · above Trend
🇮🇱IL5
0.71%
40% up · below Trend
🇧🇷BR6
0.16%
50% up · above Trend
🇨🇭CH3
0.04%
67% up · above Trend
🇮🇩ID3
-0.33%
33% up · above Trend
🇩🇪DE5
-0.77%
20% up · above Trend
🇬🇧GB3
-0.78%
33% up · above Trend
🇲🇾MY3
-1.18%
0% up · above Trend
🇮🇳IN4
-1.74%
25% up · above Trend
🇫🇷FR12
-1.77%
25% up · below Trend
🇮🇹IT3
-1.96%
0% up · above Trend
🇸🇬SG5
-5.55%
20% up · below Trend
6 thin country slices are excluded from comparative conclusions. Their securities remain in the global index.
Country leadership
Strongest confirmed tapes
🇨🇳China31 equities4.35%
🇲🇽Mexico13 equities4.26%
🇯🇵Japan26 equities3.72%
🇹🇼Taiwan110 equities2.56%
🇦🇹Austria8 equities2.44%
🇭🇰Hong Kong14 equities1.98%
Country pressure
Weakest current tapes
🇸🇬Singapore5 equities-5.55%
🇮🇹Italy3 equities-1.96%
🇫🇷France12 equities-1.77%
🇮🇳India4 equities-1.74%
🇲🇾Malaysia3 equities-1.18%
🇬🇧United Kingdom3 equities-0.78%
Sibling industry comparison
Where Computer Hardware sits inside Technology
Relative strength, acceleration and participation separate durable leadership from a one-week move.
Composite rank4 / 12
Leading1
Lagging2
Above Trend9 / 12
Return dispersion1.50 pts
Competitive-set rotation
Bubble size shows constituentsIs this industry gaining or surrendering leadership?
Improving
Leading
Lagging
Weakening
13-week relative strength4-week acceleration
Semiconductors53Semiconductor Equipment & Materials46Electronic Components60Computer Hardware64Communication Equipment47Scientific & Technical Instruments32Software - Infrastructure65Software - Application65Information Technology Services66Consumer Electronics47Electronics & Computer Distribution45Solar0
Sibling ranking
Momentum with confirmation
1
Information Technology ServicesWeakening · 50% participation
662Software - InfrastructureWeakening · 52% participation
653Software - ApplicationWeakening · 50% participation
654Computer HardwareLeading · 63% participation
645Electronic ComponentsImproving · 67% participation
606SemiconductorsImproving · 72% participation
537Communication EquipmentImproving · 52% participation
478Consumer ElectronicsWeakening · 53% participation
479Semiconductor Equipment & MaterialsImproving · 63% participation
4610Electronics & Computer DistributionWeakening · 44% participation
4511Scientific & Technical InstrumentsLagging · 56% participation
3212SolarLagging · 36% participation
0Market internals and risk
Participation, momentum and payoff shape
The headline index is tested against participation, volatility, drawdown and the distribution of security returns.
Advancing participation62.5%18.8 points versus recent baseline
13-week positive weeks54%Index-level hit rate
Annualised volatility19.5%52-week index return volatility
Current drawdown-4.9%From the 52-week index high
156-week max drawdown-20.1%Peak-to-trough index decline
Breadth impulse
Range -100 to +100Net advancing participation
Trend momentum
Positive or negative slopeTrend Line rate of change
Security return distribution
304 equitiesWhat the headline return conceals
Average loser-3.77%
Average winner+5.05%
Median equity1.14%The middle security, less sensitive to extreme movers
Interquartile range-1.24% to 4.20%The central half of the universe
Security dispersion6.55 ptsCross-sectional opportunity and stock-selection risk
News and price confirmation
Does company news confirm the Computer Hardware tape?
Qualified sentiment coverage for this industry is still building.
Security leadership
The equities driving the result
Weekly leaders and laggards reveal whether the index move is broad, concentrated or vulnerable to reversal.
Leadership
Strongest weekly contributors
Pressure
Weakest weekly contributors
Latest week
Full global industry tape
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