Global industry intelligenceWeek ending 18 September 2026

Software - Infrastructure

For the week ending 18 September 2026, Software - Infrastructure advanced 1.00% with 332 advancing, 265 declining, and 36 unchanged constituents.

Industry positioning postureHold and wait for confirmation

The evidence is balanced enough to avoid a defensive call, but not aligned enough for aggressive positioning.

Industry evidence score53/100Wait
Index value1026.87
Weekly return1.00%
Measured equities633
Sibling rank2 of 12
Parent sectorTechnologyOpen the complete sector intelligence page

156 completed weeks

Software - Infrastructure trend architecture

Price, Activity Lines, Trend Line and current Fair Value, with the recognized architecture behind each completed week.

ArchitectureUpward Expansion Index vs Trend1.2% 13-week persistence2.1% Advancing participation52%
Index Value Trend Line Fair Value Activity Lines Constructive Transition Defensive

Positioning and relative evidence

Is Software - Infrastructure earning a place in the portfolio?

Technical evidence determines the posture. Sentiment remains a separate confirmation layer.

Current posture

Hold and wait for confirmation

The evidence is balanced enough to avoid a defensive call, but not aligned enough for aggressive positioning.

Defensive53/100Position
Sentiment held separateQualified news coverage is too thin to alter the technical positioning view.
Five-pillar evidence

Quality of the positioning case

53
Trend
62
Breadth
44
Persistence
38
Relative
54
Risk quality
78
Parent-relative performance

Returns versus Technology

Composite rank 2 of 12
1 week1.0%-0.5 pts
4 weeks-0.6%-1.2 pts
13 weeks2.1%5.6 pts
26 weeks4.8%-5.3 pts
52 weeks-17.5%-24.5 pts
Relative leadership path

Software - Infrastructure versus Technology

Weakening
Evidence ledger

Confirmation and conflict

+The index remains above a constructive Trend gate.

!Breadth remains too narrow or inconsistent for a high-conviction position.

!Constituent persistence remains divided or predominantly negative.

!The group is not yet delivering dependable relative outperformance.

!Stage 4 declining constituents exceed Stage 2 advancing constituents by 26 percentage points.

Decision boundaries

What would change the posture?

1A completed weekly reclaim of 1,064.44, 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

Upward Expansion

4 weeks

The activity fan is positively ordered above a rising Trend Line with price accepted above it.

Trend gateUpFan width1.02%Accepted above fan50%Accepted below fan17%
Six completed weeks of price acceptance relative to the full Activity Line fan.
Index persistence

Negative regime, shorter trend repairing

50% agreement

The long trend remains negative, but shorter-horizon repair is now visible.

13-week
2.1%
26-week
4.8%
39-week
-7.2%
52-week
-17.5%
Regime age22 weeks52-week flips952-week boundary1244.56
Constituent trend persistence

How broadly durable is the move?

90% coverage
31%positive
Coherent positive17%
Coherent negative28%
Horizon agreement78%
Weakening positives45
Repairing negatives159

568 constituents measured as of 18 Sep 2026.

Custom stage map

Where covered constituents sit in the cycle

88% coverage
50%Stage 4
Stage 1 Basing20%109
Stage 2 Advancing24%134
Stage 3 Distribution6%33
Stage 4 Declining50%279
Re-acceleration2Transition watch76Fair Value repairs81

Stage coverage is shown explicitly and is not substituted for full-universe persistence coverage.

Geographic diffusion

Where Software - Infrastructure strength is developing

Country returns, participation and Trend position show whether the global result is widely shared or locally concentrated.

Countries measured2730 represented in the full universe
Positive countries18 / 27Latest weekly return above zero
Above Trend Line52%14 country indexes
Return dispersion4.18 ptsCross-country opportunity and divergence
Asia Pacific2.19%

10 countries · 261 equities · 41% of measured coverage

Participation64%Countries above Trend50%
Latin America1.70%

2 countries · 27 equities · 4% of measured coverage

Participation58%Countries above Trend100%
Other markets1.62%

1 countries · 26 equities · 4% of measured coverage

Participation77%Countries above Trend0%
Europe0.42%

8 countries · 87 equities · 14% of measured coverage

Participation48%Countries above Trend63%
North America0.26%

3 countries · 200 equities · 32% of measured coverage

Participation48%Countries above Trend67%
Middle East and Africa-2.86%

3 countries · 27 equities · 4% of measured coverage

Participation38%Countries above Trend0%
Country evidence map

Return, breadth and trend condition

Minimum 3 constituents
🇹🇭TH10 3.88% 80% up · above Trend 🇲🇽MX33 3.55% 42% up · above Trend 🇯🇵JP96 3.24% 72% up · above Trend 🇦🇹AT17 3.11% 59% up · above Trend 🇸🇬SG3 3.08% 67% up · below Trend 🇨🇳CN49 2.95% 80% up · below Trend 🇮🇩ID5 2.71% 20% up · above Trend 🇧🇷BR22 1.98% 59% up · above Trend 🇿🇦ZA4 1.83% 50% up · below Trend 🇮🇹IT7 1.78% 29% up · above Trend 🇦🇺AU39 1.68% 36% up · below Trend 🇹🇼TW26 1.62% 77% up · below Trend 🇮🇱IL17 1.57% 41% up · below Trend 🇬🇧GB20 1.50% 50% up · above Trend 🇩🇪DE14 0.77% 57% up · above Trend 🇦🇷AR5 0.51% 40% up · above Trend 🇭🇰HK34 0.27% 47% up · below Trend 🇳🇿NZ3 0.03% 67% up · below Trend 🇲🇾MY6 -0.24% 33% up · above Trend 🇺🇸US159 -0.25% 47% up · above Trend 🇫🇮FI3 -0.95% 0% up · above Trend 🇮🇳IN16 -1.13% 31% up · above Trend 🇫🇷FR10 -2.21% 40% up · below Trend 🇪🇸ES3 -2.61% 0% up · below Trend 🇸🇪SE13 -2.84% 38% up · below Trend 🇨🇦CA8 -3.20% 25% up · below Trend 🇹🇷TR6 -18.57% 0% up · below Trend

3 thin country slices are excluded from comparative conclusions. Their securities remain in the global index.

Country leadership

Strongest confirmed tapes

🇹🇭Thailand10 equities3.88%
🇲🇽Mexico33 equities3.55%
🇯🇵Japan96 equities3.24%
🇦🇹Austria17 equities3.11%
🇸🇬Singapore3 equities3.08%
🇨🇳China49 equities2.95%
Country pressure

Weakest current tapes

🇹🇷Turkey6 equities-18.57%
🇨🇦Canada8 equities-3.20%
🇸🇪Sweden13 equities-2.84%
🇪🇸Spain3 equities-2.61%
🇫🇷France10 equities-2.21%
🇮🇳India16 equities-1.13%

Sibling industry comparison

Where Software - Infrastructure sits inside Technology

Relative strength, acceleration and participation separate durable leadership from a one-week move.

Composite rank2 / 12 Leading1 Lagging2 Above Trend9 / 12 Return dispersion1.50 pts
Sibling ranking

Momentum with confirmation

1
Information Technology ServicesWeakening · 50% participation
662
Software - InfrastructureWeakening · 52% participation
653
Software - ApplicationWeakening · 50% participation
654
Computer HardwareLeading · 63% participation
645
Electronic ComponentsImproving · 67% participation
606
SemiconductorsImproving · 72% participation
537
Communication EquipmentImproving · 52% participation
478
Consumer ElectronicsWeakening · 53% participation
479
Semiconductor Equipment & MaterialsImproving · 63% participation
4610
Electronics & Computer DistributionWeakening · 44% participation
4511
Scientific & Technical InstrumentsLagging · 56% participation
3212
SolarLagging · 36% participation
0

Market internals and risk

Participation, momentum and payoff shape

The headline index is tested against participation, volatility, drawdown and the distribution of security returns.

Advancing participation52.4%7.3 points versus recent baseline
13-week positive weeks46%Index-level hit rate
Annualised volatility16.1%52-week index return volatility
Current drawdown-16.8%From the 52-week index high
156-week max drawdown-23.0%Peak-to-trough index decline
Breadth impulse

Net advancing participation

Range -100 to +100
Trend momentum

Trend Line rate of change

Positive or negative slope
Security return distribution

What the headline return conceals

633 equities
Average loser-6.05%
Average winner+7.10%
Median equity0.45%The middle security, less sensitive to extreme movers
Interquartile range-2.85% to 4.94%The central half of the universe
Security dispersion10.32 ptsCross-sectional opportunity and stock-selection risk

News and price confirmation

Does company news confirm the Software - Infrastructure tape?

Open sentiment intelligence

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.

Latest week

Full global industry tape

Showing 1-30 of 633, sorted by weekly return.

Ticker Company Market Open High Low Close Return
1392 HQVT HK · HKG 19.03 40.60 19.00 37.22 95.59%
AMBR Amber International Holding Limited US · NASDAQ 1.07 2.00 1.00 1.97 82.41%
MPIX Mitra Pedagang Indonesia Tbk. ID · JKT 129.00 228.00 129.00 200.00 57.48%
AR9 archTIS Limited AU · ASX 0.053 0.07 0.052 0.068 36.00%
DTSS Datasea Inc US · NASDAQ 0.651 2.29 0.53 0.8822 33.65%
OVT OVANTILTD FPO [OVT] AU · ASX 0.002 0.002 0.001 0.002 33.33%
4417 Global Security Experts Inc. JP · JPX 4,445.00 5,930.00 4,435.00 5,720.00 31.80%
G107 Group 107 Ltd IL · TLV 5,190.00 7,370.00 4,610.00 6,500.00 25.24%
ZS Zscaler, Inc. MX · MEX 3,060.00 3,433.72 3,050.00 3,433.72 23.20%
RBRK Rubrik, Inc. US · NYSE 90.15 109.00 89.12 106.71 23.15%
XBP XBP Europe Holdings Inc US · NASDAQ 2.75 3.99 2.67 3.48 22.97%
S1 SENTINELONE INC MX · MEX 325.00 400.00 325.00 399.00 22.77%
AIXC AIxCrypto Holdings, Inc. US · NASDAQ 0.851 1.20 0.85 1.09 21.57%
CYB AUCYBER FPO [CYB] AU · ASX 0.042 0.051 0.042 0.051 21.43%
ZSCA Zscaler, Inc. AT · VIE 145.74 172.78 145.74 171.56 21.31%
3696 InSilico Medicine Cayman TopCo HK · HKG 49.40 60.80 49.26 60.80 20.40%
SPX Spenda Limited AU · ASX 0.002 0.003 0.002 0.003 20.00%
ZS Zscaler Inc US · NASDAQ 172.80 199.76 170.06 197.31 19.92%
AXQ AURACONGRP CDI 1:1 [AXQ] AU · ASX 3.50 4.13 3.28 4.13 19.71%
6925 eLand Information Co., Ltd TW · TWO 51.20 62.30 51.20 59.90 19.32%
NTSK Netskope, Inc. Class A Common Stock US · NASDAQ 15.05 17.90 15.05 17.49 18.98%
2586 Dmall Inc. HK · HKG 4.42 5.28 4.27 5.22 18.79%
479A PRONI INC JP · JPX 1,891.00 2,258.00 1,862.00 2,255.00 18.06%
RXT Rackspace Technology Inc US · NASDAQ 3.11 3.99 3.08 3.80 18.01%
4073 Global Communication Planning Co.,Ltd. JP · JPX 462.00 649.00 460.00 549.00 17.81%
TENB Tenable Holdings Inc US · NASDAQ 30.92 38.89 30.90 35.43 17.67%
SYS SysGroup plc GB · LSE 0.255 0.307 0.24 0.30 17.65%
TAOX TAO Synergies Inc. US · NASDAQ 3.83 4.76 3.63 4.57 17.18%
CRWD CrowdStrike Holdings, Inc. MX · MEX 3,900.00 4,244.10 3,900.00 4,100.00 17.14%
CRWD06 CrowdStrike Holdings, Inc. TH · SET 5.60 6.60 5.60 6.55 16.96%

Evidence context