Weekly structural research · LSE · Communication Services

FUTR Stage Analysis

Future plc

Week ending 9 Oct 2026Close GBP 309.20Tenure ExtendedBenchmark ^FTSE

Screen this regime Supporting research Report data ↗

Executive diagnosis

What the Activity Line geometry says now

Structure, not prediction

Downward Expansion · Established contraction

The weekly architecture is expanding downward.

Trend and Activity show sustained negative alignment with weak price acceptance. Repair requires persistent improvement across the structure, not merely one strong observation.

The Trend gate is down within the current regime.
Fast Activity versus Slow Activity: improving.
Activity structure: compressed and contracting.

Direction -44−100 bearish to +100 bullish

Energy 22/100directional strength

Maturity 100/100lifecycle context

Confidence 84/100evidence agreement

Trend gate Downstructural direction

Activity structure Compressedcontracting separation

Price acceptance -50.0%position within the Activity structure

Fair Value context -55.3%GBP 692.11 · improving

Trend Architecture map · Historical context

Weekly close, Activity, Trend and Fair Value

Follow price and Trend first, then add Activity Lines to inspect the structure. Subtle bands show the regime recognized at each completed observation; the dashed line marks current Fair Value, not a historical forecast.

CloseTrendCurrent Fair Value

Background stage key

BalanceDirection is contained.
Rotation UpStructure is turning higher.
Upward ExpansionUptrend is established.
DecelerationUptrend is losing energy.
Rotation DownStructure is turning lower.
Downward ExpansionDowntrend is established.

View chart values · 156 observations

Week	Close	Trend	Relative Strength	Volume	Regime	Direction	Energy
2026-10-09	309.20	315.21	-26.83	1288617	Downward Expansion	-44	22
2026-10-02	291.40	319.44	-31.67	3751985	Downward Expansion	-58	39
2026-09-25	306.00	324.57	-31.17	2119680	Downward Expansion	-54	40
2026-09-18	294.40	328.22	-34.80	4720248	Downward Expansion	-57	48
2026-09-11	292.00	332.59	-36.64	1524239	Downward Expansion	-62	43
2026-09-04	296.80	336.51	-38.05	229832	Downward Expansion	-47	25
2026-08-28	309.40	342.25	-36.90	461761	Downward Expansion	-20	16
2026-08-21	301.40	349.99	-39.78	469920	Downward Expansion	-28	19
2026-08-14	337.40	357.64	-33.71	392468	Downward Expansion	-4	11
2026-08-07	329.60	363.53	-37.41	447393	Downward Expansion	-34	22
2026-07-31	305.80	369.94	-42.90	225938	Downward Expansion	-46	36
2026-07-24	297.00	376.97	-44.96	490050	Downward Expansion	-62	46
2026-07-17	308.00	384.63	-43.37	312633	Downward Expansion	-61	51
2026-07-10	300.00	391.86	-45.39	329702	Downward Expansion	-64	67
2026-07-03	296.00	399.62	-48.06	295501	Downward Expansion	-66	72
2026-06-26	298.40	410.88	-47.76	1353685	Downward Expansion	-65	55
2026-06-19	292.40	422.08	-49.12	725908	Downward Expansion	-69	52
2026-06-12	299.60	432.27	-49.32	757625	Downward Expansion	-69	51
2026-06-05	315.00	442.75	-47.09	724289	Downward Expansion	-63	49
2026-05-29	328.60	452.02	-45.91	7225165	Downward Expansion	-59	48
2026-05-22	316.40	461.51	-48.96	4168500	Downward Expansion	-64	53
2026-05-15	321.20	472.59	-47.61	4042632	Downward Expansion	-64	55
2026-05-08	326.00	482.30	-47.78	2625656	Downward Expansion	-64	58
2026-05-01	332.40	492.36	-48.32	2158094	Downward Expansion	-63	61
2026-04-24	333.40	503.29	-49.07	2031458	Downward Expansion	-66	75
2026-04-17	337.80	513.80	-50.56	3886700	Downward Expansion	-66	69
2026-04-10	306.00	525.67	-55.67	6178050	Downward Expansion	-80	75
2026-04-03	285.60	539.37	-58.64	10063146	Downward Expansion	-91	73
2026-03-27	389.20	555.31	-41.99	4558593	Downward Expansion	-75	64
2026-03-20	399.80	566.51	-40.97	7710628	Downward Expansion	-78	72
2026-03-13	436.20	579.23	-38.72	7403495	Downward Expansion	-65	81
2026-03-06	445.20	589.45	-38.60	3306165	Downward Expansion	-66	85
2026-02-27	415.60	599.15	-46.76	2537476	Downward Expansion	-75	89
2026-02-20	425.60	609.16	-45.30	3602584	Downward Expansion	-78	83
2026-02-13	409.60	619.96	-47.18	6012942	Downward Expansion	-87	65
2026-02-06	469.00	631.02	-40.18	5834629	Downward Expansion	-79	56
2026-01-30	541.50	639.89	-31.00	4729179	Downward Expansion	-60	48
2026-01-23	531.00	645.18	-32.69	5401536	Downward Expansion	-64	55
2026-01-16	514.00	652.46	-36.33	6126994	Downward Expansion	-69	78
2026-01-09	521.83	658.85	-35.52	1741398	Downward Expansion	-67	81
2026-01-02	516.83	664.77	-35.90	909516	Downward Expansion	-72	84
2025-12-26	526.83	670.85	-35.09	907947	Downward Expansion	-73	77
2025-12-19	524.83	675.68	-36.43	3996987	Downward Expansion	-75	59
2025-12-12	532.83	680.64	-34.77	5670103	Downward Expansion	-77	48
2025-12-05	633.79	685.14	-23.62	4055922	Downward Expansion	-44	30
2025-11-28	634.29	688.71	-25.11	4091877	Downward Expansion	-57	42
2025-11-21	598.30	691.97	-28.70	3719020	Downward Expansion	-64	54
2025-11-14	613.80	695.29	-28.74	3914750	Downward Expansion	-60	51
2025-11-07	593.31	698.79	-31.69	2363972	Downward Expansion	-72	67
2025-10-31	613.30	701.07	-30.36	2627342	Downward Expansion	-68	68
2025-10-24	648.79	704.05	-26.47	3282405	Downward Expansion	-62	67
2025-10-17	612.30	708.37	-29.03	3690644	Downward Expansion	-74	75
2025-10-10	627.79	715.85	-28.24	3745329	Downward Expansion	-69	68
2025-10-03	660.28	724.06	-25.84	4335380	Balance	-53	50
2025-09-26	648.79	730.33	-26.27	4131564	Balance	-54	39
2025-09-19	693.77	739.12	-21.41	2744034	Balance	-31	18
2025-09-12	717.27	748.96	-20.16	2380078	Balance	-17	10
2025-09-05	763.75	757.14	-15.15	2841048	Balance	-5	10
2025-08-29	725.26	762.17	-19.96	1731612	Balance	-12	11
2025-08-22	781.24	768.63	-15.84	1771435	Balance	3	8
2025-08-15	742.76	773.50	-19.12	1857746	Balance	-11	8
2025-08-08	736.26	778.71	-20.12	3325444	Balance	-17	11
2025-08-01	715.77	783.94	-22.79	2705724	Balance	-18	12
2025-07-25	749.75	791.52	-20.32	2253546	Balance	-15	11
2025-07-18	741.26	797.69	-20.88	3782841	Downward Expansion	-20	15
2025-07-11	735.26	804.75	-21.74	2128935	Downward Expansion	-33	19
2025-07-04	700.27	812.41	-25.13	4055336	Downward Expansion	-40	24
2025-06-27	749.25	825.89	-20.41	4964850	Downward Expansion	-39	25
2025-06-20	705.77	830.95	-25.40	4377001	Downward Expansion	-55	39
2025-06-13	699.27	836.87	-27.25	2217620	Downward Expansion	-58	48
2025-06-06	699.27	843.03	-27.70	2835556	Downward Expansion	-61	59
2025-05-30	671.78	849.06	-30.69	2585306	Downward Expansion	-65	52
2025-05-23	673.78	856.02	-30.67	3727527	Downward Expansion	-65	48
2025-05-16	667.78	862.72	-31.59	5850095	Downward Expansion	-69	49
2025-05-09	740.76	866.94	-23.55	2569660	Downward Expansion	-59	47
2025-05-02	732.26	874.96	-24.94	4203096	Downward Expansion	-63	66
2025-04-25	697.77	883.59	-26.95	3541592	Downward Expansion	-67	79
2025-04-18	718.76	894.29	-23.38	1124940	Downward Expansion	-66	79
2025-04-11	661.78	905.15	-26.59	4711400	Downward Expansion	-84	86
2025-04-04	702.77	918.48	-22.93	3322394	Downward Expansion	-83	79
2025-03-28	778.25	930.01	-20.62	1877127	Downward Expansion	-72	69
2025-03-21	836.73	940.05	-14.34	2183118	Balance	-61	55
2025-03-14	874.21	948.41	-10.14	1540269	Balance	-53	37
2025-03-07	848.22	953.99	-12.89	1316177	Balance	-56	23
2025-02-28	912.70	960.37	-7.37	2471688	Balance	-21	11
2025-02-21	988.68	964.91	2.46	1225028	Balance	-6	7
2025-02-14	962.69	969.20	-0.61	1139374	Balance	-25	11
2025-02-07	914.70	972.10	-4.88	1549778	Balance	-47	24
2025-01-31	919.20	977.66	-3.92	2382142	Balance	-39	30
2025-01-24	927.20	982.61	-0.91	2191274	Balance	-40	32
2025-01-17	899.21	986.66	-3.70	1646098	Balance	-45	33
2025-01-10	893.17	989.97	-1.17	1571732	Balance	-43	24
2025-01-03	943.16	993.29	4.78	383634	Balance	-20	10
2024-12-27	934.66	998.80	5.04	335872	Balance	-25	21
2024-12-20	953.15	1,002.97	8.20	2161548	Balance	-22	20
2024-12-13	965.15	1,005.88	7.12	1386352	Balance	-24	20
2024-12-06	1,104.60	1,007.83	23.07	2226659	Downward Expansion	-5	12
2024-11-29	901.17	998.67	1.60	1075355	Downward Expansion	-55	40
2024-11-22	883.18	992.21	-0.19	2236911	Rotation Down	-59	48
2024-11-15	884.18	983.06	1.91	1176477	Rotation Down	-35	55
2024-11-08	880.18	974.25	1.04	1672176	Rotation Down	-39	68
2024-11-01	880.68	967.25	-0.37	1691644	Rotation Down	-39	68
2024-10-25	874.68	961.12	-2.26	3136468	Rotation Down	-34	61
2024-10-18	794.21	952.39	-12.56	4044629	Rotation Down	-49	57
2024-10-11	981.64	947.75	9.09	1638880	Deceleration	0	13
2024-10-04	991.14	934.26	9.93	1725957	Deceleration	9	11
2024-09-27	1,018.63	921.60	12.49	2172846	Deceleration	25	15
2024-09-20	1,044.62	908.77	16.74	3274533	Upward Expansion	39	26
2024-09-13	1,061.61	896.42	18.56	893285	Upward Expansion	51	36
2024-09-06	1,048.62	883.99	18.96	1361850	Deceleration	43	33
2024-08-30	1,079.61	872.57	20.31	1004816	Deceleration	49	36
2024-08-23	1,087.60	860.27	22.43	1872102	Deceleration	51	36
2024-08-16	1,041.62	848.36	18.11	2253033	Upward Expansion	46	38
2024-08-09	1,039.62	837.01	20.40	2151792	Upward Expansion	57	42
2024-08-02	1,048.62	828.33	21.87	1470462	Upward Expansion	60	48
2024-07-26	1,117.59	819.30	28.70	910999	Upward Expansion	70	55
2024-07-19	1,049.62	808.55	23.44	965933	Upward Expansion	61	52
2024-07-12	1,081.61	798.40	26.35	1597100	Upward Expansion	69	56
2024-07-05	1,067.61	784.74	26.12	978589	Upward Expansion	68	57
2024-06-28	1,048.62	769.65	25.29	2465484	Upward Expansion	68	60
2024-06-21	998.64	762.86	19.12	2255765	Upward Expansion	66	74
2024-06-14	992.64	762.66	20.47	2796828	Upward Expansion	68	87
2024-06-07	1,108.60	761.20	33.62	2205786	Rotation Up	83	94
2024-05-31	1,059.61	753.38	28.21	2431516	Rotation Up	55	84
2024-05-24	1,040.62	749.61	26.04	1793793	Rotation Up	60	82
2024-05-17	1,023.63	743.00	23.03	4613226	Rotation Up	51	64
2024-05-10	829.70	736.93	-0.32	2111320	Downward Expansion	14	17
2024-05-03	707.24	737.48	-13.33	3065237	Downward Expansion	-30	18
2024-04-26	608.78	743.19	-25.51	2315856	Downward Expansion	-51	29
2024-04-19	619.77	752.52	-22.84	1399344	Downward Expansion	-49	29
2024-04-12	670.26	757.84	-18.57	1609756	Downward Expansion	-41	25
2024-04-05	696.75	761.87	-15.37	2117461	Downward Expansion	-57	40
2024-03-29	612.78	762.72	-26.64	905796	Downward Expansion	-66	73
2024-03-22	655.26	768.38	-22.40	1755909	Downward Expansion	-65	75
2024-03-15	576.79	771.39	-30.72	3245655	Downward Expansion	-80	84
2024-03-08	611.28	777.51	-26.88	2151195	Downward Expansion	-76	76
2024-03-01	633.77	783.14	-25.37	3240349	Downward Expansion	-70	60
2024-02-23	674.25	788.35	-22.00	1846336	Downward Expansion	-62	51
2024-02-16	688.75	793.18	-21.56	4341496	Downward Expansion	-60	49
2024-02-09	705.74	796.10	-19.40	3756849	Downward Expansion	-57	49
2024-02-02	710.74	797.99	-20.43	1021630	Downward Expansion	-56	36
2024-01-26	730.23	797.39	-20.14	1597402	Deceleration	-24	18
2024-01-19	701.24	795.54	-22.87	2259461	Deceleration	-30	18
2024-01-12	779.18	794.24	-17.40	1960549	Deceleration	-10	9
2024-01-05	777.68	792.41	-19.38	1649039	Deceleration	-14	30
2023-12-29	795.17	790.49	-19.04	890808	Deceleration	-17	30
2023-12-22	745.20	788.48	-24.55	2705699	Deceleration	-15	30
2023-12-15	671.73	789.49	-31.62	8213645	Rotation Down	-26	28
2023-12-08	614.75	796.96	-38.00	12357318	Rotation Down	2	7
2023-12-01	845.15	810.79	-15.66	3048525	Upward Expansion	54	36
2023-11-24	992.59	819.13	-1.57	1368067	Balance	71	69
2023-11-17	948.61	823.63	-7.12	3009796	Balance	37	44
2023-11-10	874.14	829.49	-13.70	1662498	Balance	25	28
2023-11-03	946.61	837.67	-8.50	2082326	Balance	43	38
2023-10-27	842.16	841.77	-17.78	2941118	Balance	23	27
2023-10-20	841.66	852.32	-19.68	1954595	Balance	16	27

Price vs TrendBelow-1.9%

Trend directionFalling-14.8%

Price vs current Fair ValueBelow anchor-55.3%

Fair Value directionClosing upward+3.7%

Relative Strength vs benchmarkLagging-26.8%

Relative strength directionImproving+18.6%

Price momentumPositive+1.0%

Volume balanceDemand-led1.54×

Beyond the current label

Is the structure strengthening or losing force?

Direction and energy measure different things

Direction shows the upward or downward lean. Energy shows the force behind the structural move: high energy can accompany a strong decline as well as an advance.

Direction

-44 / ±100

+18.4 points since 2026-09-11

Energy

22 /100

-20.5 points since 2026-09-11

Recent change compares the latest reading with four observations earlier. Missing readings remain unavailable. Use the chart values above to inspect individual observations.

FUTR Directional State ↗ FUTR Momentum Intelligence ↗

Comparative structural evidence

Why this architecture regime won

Every regime is evaluated

Balance40

Rotation Up24

Upward Expansion4

Deceleration56

Rotation Down44

Downward Expansion75

The winning regime is the state most consistent with the complete SM evidence set. Direction, energy, maturity and confidence describe different aspects of the current structure, while contradictory evidence remains visible rather than being averaged into false certainty.

Time spent in each state

The context behind today’s regime

2023-10-20 to 2026-10-09 · 156 classified observations out of 156 shown.

Balance 21%Rotation Up 3%Upward Expansion 8%Deceleration 8%Rotation Down 5%Downward Expansion 56%

Recent Trend Architecture ledger

Regime	Recognized	Last observation	Tenure	Move inside regime
Downward Expansion	2025-10-10	2026-10-09	Extended	-50.7%
Balance	2025-07-25	2025-10-03	Developing	-11.9%
Downward Expansion	2025-03-28	2025-07-18	Established	-4.8%
Balance	2024-12-13	2025-03-21	Established	-13.3%
Downward Expansion	2024-11-29	2024-12-06	New	+22.6%
Rotation Down	2024-10-18	2024-11-22	Developing	+11.2%
Deceleration	2024-09-27	2024-10-11	New	-3.6%
Upward Expansion	2024-09-13	2024-09-20	New	-1.6%
Deceleration	2024-08-23	2024-09-06	New	-3.6%
Upward Expansion	2024-06-14	2024-08-16	Developing	+4.9%
Rotation Up	2024-05-17	2024-06-07	New	+8.3%
Downward Expansion	2024-02-02	2024-05-10	Established	+16.7%
Deceleration	2023-12-22	2024-01-26	Developing	-2.0%
Rotation Down	2023-12-08	2023-12-15	New	+9.3%

Classic Stage Analysis comparison

Stage 1 · Basing73

Stage 2 · Advancing11

Stage 3 · Distribution14

Stage 4 · Declining89

Legacy result: Stage 4 · Stage 4B · Declining. It remains visible while the experimental architecture is validated rather than being silently discarded.

Leadership versus ^FTSE

Is relative performance confirming the geometry?

Confirmation, not classification

Relative Strength

The security is compared with its market benchmark on the SM scale. Above zero indicates relative leadership; direction shows whether that leadership is improving or weakening.

Confirmation evidence

Lagging benchmark

Architecture confirmation: 77/100
Current Relative Strength: -26.83
Relative Strength direction: Improving
Price momentum: +1.0%
Excess performance vs benchmark: +1.5%
Communication Services regime cohort: 46th percentile13 in cohort

Test FUTR trend persistence

Participation and structure

Is demand confirming the architecture?

Volume cannot overrule geometry

Relative volume0.93×

Latest completed volume relative to typical participation.

Up/down volume1.54×

Participation balance between advancing and declining observations.

Accumulation / distribution2 / 2

Recent participation evidence classified by demand and supply.

Activity alignment+0.0%

Current positive alignment across Activity and Trend.

Fast/slow rotationImproving

Current relationship between Fast Activity and Slow Activity.

Structure stability+25.0%

Whether recent Activity evidence is stable or remains in balance.

Weekly volume with architecture context

Bars show completed weekly volume; the dashed line provides typical-volume context. Both measures use the same scale.

Explore FUTR Volume & Price ↗

Decision architecture

References that would change the structural read

Evidence levels, not orders

Fast Activity GBP 300.69falling

Slow Activity GBP 307.30falling

Trend Reference GBP 315.21-1.9% close margin

Current Fair Value GBP 692.11-55.3% close margin

Structural low GBP 278.50shock / repair context

What changes the read?

Fan contraction and a persistent upward fast/slow rotation are required before the declining structure is considered repaired.

Range context +7.9%

Annualized volatility +31.5%

From structural high -54.4%

From structural low +17.9%

Point-in-time evidence

What followed this architecture in this market?

Descriptive history, never a forecast

Historical comparisons use only the structural read that would have been available at each completed observation. Independent observations are used where possible, with benchmark comparison beginning after each recognized state.

Outcome horizon	Samples	Median move	Positive periods	Directional follow-through	Median excess vs ^FTSE	Regime survived	Read
Near term	43	-3.5%-23.3% to +70.9%	+39.5%	+60.5%	-6.6%	+88.4%	Usable descriptive sample
Intermediate	16	-7.0%-41.4% to +48.3%	+25.0%	+75.0%	-9.5%	+68.8%	Usable descriptive sample
Extended	8	-24.7%-48.2% to +59.4%	+12.5%	+87.5%	-30.2%	+75.0%	Usable descriptive sample
Full cycle	4	-45.2%-51.3% to +27.7%	+25.0%	+75.0%	-50.9%	+50.0%	Too little matched history

Evidence framework

What the analysis measures and where its limits lie

Trend Architecture

Trend Architecture brings Price, Fast Activity, Slow Activity and Trend into one structural read. It identifies balance, rotation, expansion, deceleration and contraction while requiring persistent evidence for confirmed regime changes.

Evidence roles

Trend, Activity, relative strength, volume and Fair Value each have a defined role in the SM evidence framework. No single reading is treated as sufficient on its own, and conflicting evidence remains visible.

Fair Value and RS

Current Fair Value provides a long-term price anchor and shows whether price is trading above, below or repairing toward that reference. Relative Strength compares the security with its benchmark and shows whether leadership is improving or weakening.

Known limitations

Weekly structure recognizes conditions after they develop. Event gaps can bypass smooth transitions, sideways markets can rotate repeatedly, and historical samples for a particular regime can be thin.

Independent market research for education. Not investment advice, a recommendation, a forecast, a target, or an execution instruction. Historical regime behaviour does not establish what happens next.

FUTR Stage Analysis

What the Activity Line geometry says now

The weekly architecture is expanding downward.

Weekly close, Activity, Trend and Fair Value

Is the structure strengthening or losing force?

Direction

Energy

Why this architecture regime won

The context behind today’s regime

Is relative performance confirming the geometry?

Relative Strength

Lagging benchmark

Is demand confirming the architecture?

Weekly volume with architecture context

References that would change the structural read

What followed this architecture in this market?

What the analysis measures and where its limits lie

Trend Architecture

Evidence roles

Fair Value and RS

Known limitations

Send a message

Evidence context

What the Activity Line geometry says now

The weekly architecture is expanding downward.

Weekly close, Activity, Trend and Fair Value

Is the structure strengthening or losing force?

Direction

Energy

Why this architecture regime won

The context behind today’s regime

Is relative performance confirming the geometry?

Relative Strength ?

Lagging benchmark

Is demand confirming the architecture?

Weekly volume with architecture context

References that would change the structural read

What followed this architecture in this market?

Test the structure from another angle

Trend Persistence ↗

Directional State ↗

Momentum Intelligence ↗

Volume & Price ↗

Similar Charts ↗

RMI Reversal Map ↗

What the analysis measures and where its limits lie

Trend Architecture

Evidence roles

Fair Value and RS

Known limitations

Relative Strength

Trend Persistence

Directional State

Momentum Intelligence

Volume & Price

Similar Charts

RMI Reversal Map