Weekly structural research · NYSE · Financial Services

SHG Stage Analysis

Shinhan Financial Group Co Ltd

Week ending 9 Oct 2026Close USD 75.52Tenure DevelopingBenchmark SPY

Screen this regime Supporting research Report data ↗

Executive diagnosis

What the Activity Line geometry says now

Structure, not prediction

Upward Expansion · Re-accelerating

The weekly architecture is expanding upward.

Trend and Activity show sustained positive alignment with constructive price acceptance. Directional energy remains positive; cooling within this regime can indicate that it is maturing.

The Trend gate is up within the current regime.
Fast Activity versus Slow Activity: weakening.
Activity structure: moderate and contracting.

Direction 43−100 bearish to +100 bullish

Energy 31/100directional strength

Maturity 72/100lifecycle context

Confidence 88/100evidence agreement

Trend gate Upstructural direction

Activity structure Moderatecontracting separation

Price acceptance +33.3%position within the Activity structure

Fair Value context +65.7%USD 45.58 · weakening

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	75.52	70.52	6.71	813792	Upward Expansion	43	31
2026-10-02	78.03	69.96	12.03	1411504	Upward Expansion	60	49
2026-09-25	80.95	69.35	16.59	668638	Upward Expansion	64	72
2026-09-18	80.14	68.88	17.65	778564	Upward Expansion	66	76
2026-09-11	84.06	68.60	24.09	579318	Upward Expansion	81	83
2026-09-04	82.28	68.13	21.43	939795	Upward Expansion	80	79
2026-08-28	79.15	67.56	17.81	649018	Upward Expansion	76	70
2026-08-21	74.63	66.86	12.33	657389	Upward Expansion	63	58
2026-08-14	75.36	66.32	12.40	904445	Upward Expansion	70	66
2026-08-07	75.81	65.60	13.72	1071227	Upward Expansion	75	67
2026-07-31	69.93	64.87	9.03	1245468	Upward Expansion	57	63
2026-07-24	71.49	64.34	13.11	1245971	Upward Expansion	64	65
2026-07-17	70.76	63.75	11.71	1191530	Deceleration	62	47
2026-07-10	73.28	63.17	14.33	1217608	Deceleration	72	37
2026-07-03	66.88	62.50	6.19	1188368	Deceleration	30	12
2026-06-26	60.28	62.08	-1.87	2006102	Deceleration	2	3
2026-06-19	66.65	61.87	6.17	1180914	Deceleration	48	26
2026-06-12	67.30	61.41	8.61	1383485	Deceleration	42	21
2026-06-05	67.17	61.00	9.47	1424933	Deceleration	41	22
2026-05-29	63.09	60.53	0.69	1118792	Upward Expansion	34	17
2026-05-22	64.31	60.15	4.45	1171178	Upward Expansion	43	29
2026-05-15	64.13	59.73	5.49	1266739	Upward Expansion	57	40
2026-05-08	68.54	59.34	13.61	964839	Upward Expansion	64	65
2026-05-01	68.35	58.70	16.75	861109	Upward Expansion	64	62
2026-04-24	66.38	58.11	15.27	1479065	Upward Expansion	57	47
2026-04-17	69.11	57.53	21.54	1495406	Deceleration	69	46
2026-04-10	67.31	56.88	24.75	953134	Deceleration	56	33
2026-04-03	62.16	56.28	20.49	1018376	Deceleration	32	23
2026-03-27	60.83	55.77	22.98	1872277	Deceleration	32	29
2026-03-20	61.72	55.31	23.18	2006431	Upward Expansion	39	25
2026-03-13	58.79	54.89	16.32	1777415	Upward Expansion	50	42
2026-03-06	59.73	54.59	17.36	2991181	Upward Expansion	66	67
2026-02-27	66.81	54.27	29.80	1179235	Upward Expansion	68	88
2026-02-20	71.72	53.62	40.22	840967	Upward Expansion	92	97
2026-02-13	69.83	52.92	39.82	1888751	Upward Expansion	94	97
2026-02-06	65.16	52.22	30.44	1363994	Upward Expansion	93	91
2026-01-30	58.33	51.68	17.77	951629	Upward Expansion	77	71
2026-01-23	58.25	51.27	18.94	1169920	Upward Expansion	79	58
2026-01-16	53.85	50.79	10.40	1372242	Upward Expansion	52	33
2026-01-09	53.94	50.42	10.84	907700	Upward Expansion	54	32
2026-01-02	54.02	50.06	13.43	498556	Upward Expansion	56	33
2025-12-26	53.96	49.68	12.88	516084	Upward Expansion	56	36
2025-12-19	53.31	49.25	13.85	925543	Upward Expansion	55	39
2025-12-12	53.08	48.79	14.21	833258	Upward Expansion	58	42
2025-12-05	54.25	48.25	16.75	895596	Upward Expansion	65	51
2025-11-28	54.09	47.64	17.49	930386	Upward Expansion	67	54
2025-11-21	52.77	47.05	19.41	830345	Upward Expansion	63	53
2025-11-14	54.97	46.42	22.52	869271	Upward Expansion	80	71
2025-11-07	53.25	45.68	19.47	1011285	Upward Expansion	75	62
2025-10-31	51.69	44.97	14.51	1509376	Upward Expansion	66	54
2025-10-24	51.59	44.25	15.38	1304363	Upward Expansion	68	57
2025-10-17	52.37	43.57	19.61	1416638	Upward Expansion	77	56
2025-10-10	49.33	42.89	14.94	1897384	Upward Expansion	60	49
2025-10-03	50.64	42.29	15.25	665948	Upward Expansion	70	53
2025-09-26	48.93	41.64	12.76	1041699	Deceleration	58	43
2025-09-19	49.64	41.05	14.07	1641236	Deceleration	56	42
2025-09-12	49.37	40.50	14.95	1046248	Deceleration	55	43
2025-09-05	46.81	39.95	10.77	715880	Upward Expansion	48	46
2025-08-29	47.23	39.48	12.04	683411	Upward Expansion	53	55
2025-08-22	48.98	39.03	16.14	633216	Upward Expansion	65	63
2025-08-15	49.92	38.54	18.61	628293	Upward Expansion	72	67
2025-08-08	50.15	37.99	20.51	702436	Upward Expansion	76	70
2025-08-01	47.27	37.40	16.62	1015086	Upward Expansion	68	68
2025-07-25	50.47	36.90	21.56	1028788	Upward Expansion	86	93
2025-07-18	48.87	36.29	19.63	1735093	Upward Expansion	85	93
2025-07-11	49.16	35.76	21.52	2021883	Upward Expansion	94	94
2025-07-04	45.89	35.25	13.58	538811	Upward Expansion	87	92
2025-06-27	43.94	34.89	10.79	1082267	Upward Expansion	79	89
2025-06-20	42.84	34.67	12.07	664005	Upward Expansion	75	90
2025-06-13	43.01	34.53	12.74	815101	Upward Expansion	84	94
2025-06-06	42.53	34.33	11.49	959090	Rotation Up	90	96
2025-05-30	41.10	34.22	9.85	698315	Rotation Up	65	87
2025-05-23	39.56	34.11	7.83	1069752	Rotation Up	62	82
2025-05-16	36.95	34.13	-1.70	780688	Rotation Up	42	66
2025-05-09	35.89	34.24	0.46	653118	Rotation Up	35	43
2025-05-02	36.37	34.42	1.35	948943	Downward Expansion	19	29
2025-04-25	33.96	34.55	-2.63	946672	Downward Expansion	-19	12
2025-04-18	32.69	34.81	-2.03	861720	Downward Expansion	-44	32
2025-04-11	31.82	35.06	-5.91	1711062	Downward Expansion	-59	44
2025-04-04	30.24	35.35	-5.42	1252142	Downward Expansion	-77	60
2025-03-28	31.24	35.69	-11.19	910866	Downward Expansion	-69	61
2025-03-21	31.94	36.01	-10.79	1185062	Downward Expansion	-66	76
2025-03-14	31.32	36.40	-12.38	1350214	Downward Expansion	-73	80
2025-03-07	31.14	36.68	-15.23	2123424	Downward Expansion	-79	81
2025-02-28	31.32	36.92	-17.60	1868403	Downward Expansion	-80	65
2025-02-21	32.97	37.18	-14.29	2290757	Downward Expansion	-61	50
2025-02-14	32.82	37.43	-16.18	1591578	Downward Expansion	-53	46
2025-02-07	32.68	37.54	-15.49	719023	Downward Expansion	-55	45
2025-01-31	33.95	37.66	-12.55	879206	Downward Expansion	-49	45
2025-01-24	34.09	37.75	-13.28	750318	Downward Expansion	-61	54
2025-01-17	33.49	37.73	-13.35	1148138	Downward Expansion	-65	80
2025-01-10	32.60	37.69	-13.12	624651	Downward Expansion	-68	87
2025-01-03	32.27	37.68	-15.63	682563	Rotation Down	-75	90
2024-12-27	32.17	37.68	-16.35	638043	Rotation Down	-54	81
2024-12-20	32.81	37.70	-14.29	1288341	Rotation Down	-55	74
2024-12-13	33.87	37.71	-13.26	1009776	Rotation Down	-52	65
2024-12-06	35.06	37.71	-10.78	1209314	Deceleration	-39	51
2024-11-29	37.40	37.65	-3.96	642166	Deceleration	-3	24
2024-11-22	38.54	37.49	0.26	563396	Deceleration	6	18
2024-11-15	37.05	37.29	-1.81	565627	Deceleration	-3	15
2024-11-08	39.31	37.02	2.21	788175	Deceleration	17	14
2024-11-01	37.91	36.66	3.52	826617	Deceleration	25	14
2024-10-25	40.06	36.44	8.17	456701	Deceleration	40	26
2024-10-18	40.25	36.23	8.04	635838	Deceleration	43	32
2024-10-11	41.30	36.06	12.19	1213060	Deceleration	57	39
2024-10-04	40.09	35.85	10.66	477073	Deceleration	44	35
2024-09-27	41.86	35.60	16.29	1236019	Deceleration	64	45
2024-09-20	40.24	35.21	12.98	554356	Upward Expansion	57	45
2024-09-13	40.55	34.88	15.86	530718	Upward Expansion	61	56
2024-09-06	40.35	34.55	20.40	417361	Upward Expansion	63	60
2024-08-30	40.78	34.22	17.37	511752	Upward Expansion	65	62
2024-08-23	43.73	33.90	26.89	589219	Upward Expansion	91	79
2024-08-16	39.74	33.36	17.73	775549	Upward Expansion	75	83
2024-08-09	38.26	32.89	18.52	558706	Upward Expansion	67	84
2024-08-02	39.35	32.47	22.62	630881	Upward Expansion	81	92
2024-07-26	40.25	32.02	23.50	508512	Upward Expansion	94	97
2024-07-19	36.19	31.62	10.77	476569	Upward Expansion	71	81
2024-07-12	36.17	31.34	8.97	588699	Upward Expansion	76	78
2024-07-05	36.81	31.04	12.30	458181	Upward Expansion	80	62
2024-06-28	33.44	30.67	4.44	555020	Upward Expansion	44	23
2024-06-21	32.23	30.42	0.86	438471	Upward Expansion	34	17
2024-06-14	32.30	30.21	1.88	522636	Upward Expansion	47	26
2024-06-07	32.34	29.99	3.79	406548	Upward Expansion	52	35
2024-05-31	32.68	29.73	6.29	398689	Upward Expansion	56	47
2024-05-24	33.25	29.46	7.87	570748	Upward Expansion	57	56
2024-05-17	33.78	29.12	9.81	272596	Upward Expansion	65	56
2024-05-10	33.24	28.80	10.09	395814	Deceleration	61	36
2024-05-03	32.78	28.49	10.83	379213	Deceleration	41	27
2024-04-26	32.45	28.21	10.58	790114	Deceleration	36	29
2024-04-19	28.97	27.94	1.54	517431	Deceleration	23	24
2024-04-12	28.50	27.82	-3.16	1300331	Upward Expansion	34	30
2024-04-05	31.35	27.73	4.83	674325	Upward Expansion	63	60
2024-03-29	33.72	27.49	11.84	887170	Upward Expansion	66	75
2024-03-22	35.21	27.18	17.39	713632	Upward Expansion	86	80
2024-03-15	34.76	26.82	18.80	596016	Upward Expansion	91	77
2024-03-08	32.63	26.44	11.82	601356	Upward Expansion	86	79
2024-03-01	30.32	26.15	3.74	443056	Upward Expansion	67	84
2024-02-23	30.39	25.95	4.84	329211	Upward Expansion	69	88
2024-02-16	30.54	25.77	6.91	442374	Upward Expansion	77	91
2024-02-09	30.45	25.55	6.07	735890	Upward Expansion	83	87
2024-02-02	31.09	25.35	9.43	1192622	Deceleration	88	59
2024-01-26	27.55	25.08	-1.98	675247	Deceleration	56	28
2024-01-19	25.60	24.95	-8.68	639770	Upward Expansion	42	26
2024-01-12	25.71	24.87	-7.97	639258	Upward Expansion	59	46
2024-01-05	25.94	24.82	-6.04	623442	Upward Expansion	64	72
2023-12-29	28.27	24.78	0.21	273580	Upward Expansion	84	89
2023-12-22	27.82	24.65	-1.22	839893	Upward Expansion	85	84
2023-12-15	26.96	24.50	-3.65	723165	Upward Expansion	79	78
2023-12-08	25.75	24.39	-5.99	505022	Upward Expansion	62	69
2023-12-01	26.07	24.30	-4.85	435458	Upward Expansion	69	70
2023-11-24	25.90	24.23	-4.84	290390	Balance	69	58
2023-11-17	25.65	24.15	-4.94	710004	Balance	61	36
2023-11-10	24.53	24.09	-7.04	548576	Balance	20	11
2023-11-03	24.72	24.07	-5.24	996363	Balance	2	11
2023-10-27	23.08	24.03	-6.42	490653	Balance	-29	27
2023-10-20	24.17	24.06	-4.52	538162	Balance	24	17

Price vs TrendAbove+7.1%

Trend directionRising+8.7%

Price vs current Fair ValuePremium+65.7%

Fair Value directionMoving away-12.1%

Relative Strength vs benchmarkLeading+6.7%

Relative strength directionWeakening-7.6%

Price momentumPositive+12.2%

Volume balanceSupply-led0.74×

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

43 / ±100

-37.7 points since 2026-09-11

Energy

31 /100

-52.1 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.

SHG Directional State ↗ SHG Momentum Intelligence ↗

Comparative structural evidence

Why this architecture regime won

Every regime is evaluated

Balance35

Rotation Up34

Upward Expansion64

Deceleration88

Rotation Down27

Downward Expansion16

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 4%Rotation Up 3%Upward Expansion 60%Deceleration 20%Rotation Down 3%Downward Expansion 11%

Recent Trend Architecture ledger

Regime	Recognized	Last observation	Tenure	Move inside regime
Upward Expansion	2026-07-24	2026-10-09	Developing	+5.6%
Deceleration	2026-06-05	2026-07-17	Developing	+5.3%
Upward Expansion	2026-04-24	2026-05-29	Developing	-5.0%
Deceleration	2026-03-27	2026-04-17	New	+13.6%
Upward Expansion	2025-10-03	2026-03-20	Established	+21.9%
Deceleration	2025-09-12	2025-09-26	New	-0.9%
Upward Expansion	2025-06-13	2025-09-05	Established	+8.8%
Rotation Up	2025-05-09	2025-06-06	Developing	+18.5%
Downward Expansion	2025-01-10	2025-05-02	Established	+11.6%
Rotation Down	2024-12-13	2025-01-03	New	-4.7%
Deceleration	2024-09-27	2024-12-06	Developing	-16.2%
Upward Expansion	2024-05-17	2024-09-20	Established	+19.1%
Deceleration	2024-04-19	2024-05-10	New	+14.8%
Upward Expansion	2024-02-09	2024-04-12	Developing	-6.4%

Classic Stage Analysis comparison

Stage 1 · Basing5

Stage 2 · Advancing97

Stage 3 · Distribution70

Stage 4 · Declining3

Legacy result: Stage 2 · Stage 2B · Advancing. It remains visible while the experimental architecture is validated rather than being silently discarded.

Leadership versus SPY

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

Leading benchmark

Architecture confirmation: 68/100
Current Relative Strength: 6.71
Relative Strength direction: Weakening
Price momentum: +12.2%
Excess performance vs benchmark: -2.7%
Financial Services regime cohort: 70th percentile47 in cohort

Test SHG trend persistence

Participation and structure

Is demand confirming the architecture?

Volume cannot overrule geometry

Relative volume0.75×

Latest completed volume relative to typical participation.

Up/down volume0.74×

Participation balance between advancing and declining observations.

Accumulation / distribution1 / 3

Recent participation evidence classified by demand and supply.

Activity alignment+75.0%

Current positive alignment across Activity and Trend.

Fast/slow rotationWeakening

Current relationship between Fast Activity and Slow Activity.

Structure stability+12.5%

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 SHG Volume & Price ↗

Decision architecture

References that would change the structural read

Evidence levels, not orders

Fast Activity USD 78.46falling

Slow Activity USD 73.67rising

Trend Reference USD 70.52+7.1% close margin

Current Fair Value USD 45.58+65.7% close margin

Structural low USD 59.78shock / repair context

What changes the read?

Sustained fan recompression, a fast-line rollover or repeated closes inside/below the fan move the read toward Deceleration or Rotation Down.

Range context +6.7%

Annualized volatility +34.5%

From structural high -11.7%

From structural low +60.5%

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 SPY	Regime survived	Read
Near term	29	+3.6%-17.6% to +23.1%	+58.6%	+58.6%	+1.0%	+72.4%	Usable descriptive sample
Intermediate	11	+7.7%-23.5% to +26.5%	+63.6%	+63.6%	+3.9%	+54.5%	Usable descriptive sample
Extended	7	+14.3%-20.6% to +39.6%	+57.1%	+57.1%	+4.6%	+42.9%	Usable descriptive sample
Full cycle	4	+38.7%-14.2% to +59.5%	+75.0%	+75.0%	+15.4%	+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.

SHG Stage Analysis

What the Activity Line geometry says now

The weekly architecture is expanding upward.

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

Leading 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 upward.

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 ?

Leading 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