Weekly structural research · NASDAQ · Healthcare

CGEM Stage Analysis

Cullinan Oncology LLC

Week ending 9 Oct 2026Close USD 15.53Tenure EstablishedBenchmark QQQ

Screen this regime Supporting research Report data ↗

Executive diagnosis

What the Activity Line geometry says now

Structure, not prediction

Upward Expansion · Established expansion

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 mixed within the current regime.
Fast Activity versus Slow Activity: weakening.
Activity structure: compressed and contracting.

Direction -23−100 bearish to +100 bullish

Energy 31/100directional strength

Maturity 100/100lifecycle context

Confidence 60/100evidence agreement

Trend gate Mixedstructural direction

Activity structure Compressedcontracting separation

Price acceptance -33.3%position within the Activity structure

Fair Value context +17.0%USD 13.28 · 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	15.53	16.52	-2.99	5613368	Upward Expansion	-23	31
2026-10-02	15.51	16.45	-2.19	5494753	Upward Expansion	5	18
2026-09-25	14.81	16.46	-5.02	8635733	Upward Expansion	16	15
2026-09-18	21.08	16.48	40.93	7312749	Upward Expansion	62	62
2026-09-11	20.59	16.23	41.39	4128942	Upward Expansion	66	77
2026-09-04	22.09	15.93	53.38	3085426	Upward Expansion	74	84
2026-08-28	21.70	15.61	53.94	2922092	Upward Expansion	75	79
2026-08-21	21.68	15.28	57.06	3857855	Upward Expansion	78	65
2026-08-14	20.34	14.98	45.98	4516382	Upward Expansion	73	45
2026-08-07	17.73	14.65	30.57	2473737	Upward Expansion	57	34
2026-07-31	16.50	14.43	29.26	2976076	Upward Expansion	54	37
2026-07-24	17.10	14.21	36.12	2079965	Upward Expansion	59	58
2026-07-17	17.69	13.99	40.11	3231626	Upward Expansion	61	69
2026-07-10	18.13	13.72	39.39	3238471	Upward Expansion	67	70
2026-07-03	17.63	13.52	39.66	3439163	Upward Expansion	67	58
2026-06-26	18.40	13.28	48.73	8932443	Upward Expansion	71	38
2026-06-19	15.03	13.05	17.55	7497223	Upward Expansion	41	21
2026-06-12	13.70	12.86	10.71	7769744	Upward Expansion	34	17
2026-06-05	13.51	12.69	12.03	4925949	Upward Expansion	47	29
2026-05-29	16.44	12.48	30.47	4980544	Upward Expansion	67	49
2026-05-22	13.84	12.22	13.73	5283755	Upward Expansion	49	28
2026-05-15	15.73	12.02	31.41	5316007	Upward Expansion	63	33
2026-05-08	14.55	11.75	22.24	5935700	Upward Expansion	56	30
2026-05-01	13.43	11.52	19.71	2751812	Upward Expansion	50	29
2026-04-24	13.22	11.27	19.92	2975459	Upward Expansion	53	36
2026-04-17	15.06	11.02	40.05	4243135	Deceleration	63	41
2026-04-10	14.54	10.73	44.47	3069331	Deceleration	51	31
2026-04-03	14.43	10.46	50.97	3625339	Upward Expansion	51	30
2026-03-27	12.85	10.21	40.96	4980576	Upward Expansion	55	38
2026-03-20	12.74	10.04	36.16	4106435	Upward Expansion	61	57
2026-03-13	13.49	9.88	42.03	3839749	Upward Expansion	64	74
2026-03-06	15.74	9.69	64.91	4161331	Upward Expansion	81	84
2026-02-27	15.50	9.41	62.03	4931280	Upward Expansion	85	79
2026-02-20	13.65	9.15	43.87	3899926	Upward Expansion	75	59
2026-02-13	11.59	8.96	24.35	3108669	Upward Expansion	61	56
2026-02-06	12.23	8.83	29.79	3842490	Upward Expansion	65	60
2026-01-30	11.96	8.68	24.50	2834274	Upward Expansion	64	54
2026-01-23	12.50	8.54	29.76	3276476	Upward Expansion	72	46
2026-01-16	10.72	8.38	11.56	2613870	Upward Expansion	47	33
2026-01-09	10.90	8.28	12.10	4183259	Upward Expansion	59	35
2026-01-02	10.12	8.20	5.75	2882856	Upward Expansion	56	40
2025-12-26	10.37	8.17	5.45	3550932	Upward Expansion	60	47
2025-12-19	9.68	8.11	-1.14	7220837	Upward Expansion	64	70
2025-12-12	11.92	8.05	21.42	7443546	Upward Expansion	79	84
2025-12-05	10.59	7.90	5.47	5600154	Upward Expansion	72	78
2025-11-28	11.37	7.80	13.29	9756423	Rotation Up	84	75
2025-11-21	9.47	7.71	-1.93	5582082	Rotation Up	38	49
2025-11-14	8.55	7.67	-15.07	3623598	Downward Expansion	27	30
2025-11-07	7.19	7.65	-29.83	3420530	Downward Expansion	10	21
2025-10-31	8.66	7.67	-19.87	5014207	Downward Expansion	21	29
2025-10-24	7.76	7.62	-28.31	4917158	Downward Expansion	-18	16
2025-10-17	7.86	7.63	-27.43	7941795	Downward Expansion	-27	18
2025-10-10	7.40	7.66	-31.51	11643597	Downward Expansion	-59	55
2025-10-03	5.90	7.70	-47.75	5920578	Downward Expansion	-73	79
2025-09-26	5.96	7.80	-47.87	2483296	Downward Expansion	-74	77
2025-09-19	6.20	7.88	-47.36	3536375	Downward Expansion	-73	71
2025-09-12	6.53	7.97	-44.84	3771183	Downward Expansion	-68	50
2025-09-05	6.99	8.07	-41.37	3099915	Downward Expansion	-60	30
2025-08-29	7.54	8.18	-37.75	1758935	Downward Expansion	-49	24
2025-08-22	8.19	8.28	-34.25	1920832	Downward Expansion	-30	17
2025-08-15	7.66	8.36	-40.31	1799597	Downward Expansion	-50	27
2025-08-08	7.30	8.45	-43.95	1759260	Downward Expansion	-61	33
2025-08-01	7.67	8.58	-40.13	2149663	Downward Expansion	-53	29
2025-07-25	8.18	8.74	-38.88	1313387	Downward Expansion	-50	29
2025-07-18	7.53	8.87	-44.55	1214622	Downward Expansion	-58	46
2025-07-11	7.70	9.01	-43.70	1496522	Downward Expansion	-54	41
2025-07-04	7.81	9.14	-43.96	1156814	Downward Expansion	-51	31
2025-06-27	7.76	9.32	-44.29	2578107	Downward Expansion	-44	21
2025-06-20	7.67	9.51	-43.61	1525952	Downward Expansion	-34	19
2025-06-13	8.61	9.67	-37.74	1383790	Downward Expansion	-20	16
2025-06-06	9.08	9.84	-35.80	1781251	Downward Expansion	-30	19
2025-05-30	8.64	10.08	-38.99	1716583	Downward Expansion	-45	34
2025-05-23	7.81	10.31	-45.20	1389173	Downward Expansion	-57	42
2025-05-16	7.50	10.59	-49.91	2975874	Downward Expansion	-66	46
2025-05-09	7.54	10.89	-47.49	2529668	Downward Expansion	-60	45
2025-05-02	8.79	11.18	-40.64	1705485	Downward Expansion	-50	45
2025-04-25	8.14	11.44	-44.80	2310658	Downward Expansion	-64	60
2025-04-18	7.89	11.74	-44.50	2093227	Downward Expansion	-65	72
2025-04-11	7.71	12.08	-47.63	3181699	Downward Expansion	-71	72
2025-04-04	7.41	12.42	-46.56	2763930	Downward Expansion	-80	70
2025-03-28	8.02	12.77	-48.51	1578999	Downward Expansion	-75	67
2025-03-21	8.52	13.16	-47.24	2227774	Downward Expansion	-69	67
2025-03-14	8.79	13.48	-46.04	2462597	Downward Expansion	-67	74
2025-03-07	8.71	13.74	-48.39	2065985	Downward Expansion	-72	84
2025-02-28	8.49	14.01	-51.88	2369907	Downward Expansion	-80	87
2025-02-21	9.03	14.32	-51.23	1559973	Downward Expansion	-79	82
2025-02-14	9.53	14.69	-50.35	1491483	Downward Expansion	-76	77
2025-02-07	10.21	14.98	-45.98	2742851	Downward Expansion	-68	66
2025-01-31	10.56	15.19	-44.75	2240590	Downward Expansion	-67	61
2025-01-24	10.55	15.38	-46.17	1705083	Downward Expansion	-70	58
2025-01-17	10.26	15.61	-47.17	3028948	Downward Expansion	-77	59
2025-01-10	11.19	15.84	-40.96	2366074	Downward Expansion	-72	56
2025-01-03	12.68	16.10	-34.71	1631282	Downward Expansion	-65	56
2024-12-27	12.02	16.42	-38.62	3016136	Downward Expansion	-68	70
2024-12-20	11.60	16.81	-40.28	2978780	Downward Expansion	-75	76
2024-12-13	11.75	17.22	-40.89	1752546	Downward Expansion	-79	81
2024-12-06	13.06	17.61	-33.74	3514096	Downward Expansion	-71	78
2024-11-29	13.45	18.06	-29.37	1943777	Downward Expansion	-70	73
2024-11-22	12.54	18.55	-33.50	2985872	Downward Expansion	-82	75
2024-11-15	13.86	18.98	-25.05	3919945	Downward Expansion	-77	63
2024-11-08	16.02	19.04	-16.12	2408010	Downward Expansion	-59	49
2024-11-01	15.78	19.06	-12.53	1641775	Downward Expansion	-64	57
2024-10-25	15.96	19.10	-12.71	1864166	Downward Expansion	-62	59
2024-10-18	16.77	19.14	-7.75	1984886	Downward Expansion	-55	53
2024-10-11	16.22	19.13	-10.15	1757035	Downward Expansion	-63	53
2024-10-04	16.34	19.12	-7.94	1921563	Balance	-61	46
2024-09-27	17.19	19.14	-2.56	3734461	Balance	-54	28
2024-09-20	18.15	19.18	4.49	5083263	Balance	-33	17
2024-09-13	17.95	19.18	5.50	2581590	Balance	-37	18
2024-09-06	17.98	19.18	12.60	2129166	Balance	-38	19
2024-08-30	19.60	19.21	16.41	2369101	Deceleration	-33	20
2024-08-23	18.03	19.15	6.97	2227551	Deceleration	-25	26
2024-08-16	16.71	18.98	0.58	2987939	Deceleration	-32	21
2024-08-09	16.77	18.81	6.79	4430781	Deceleration	-12	11
2024-08-02	17.76	18.60	13.99	3163346	Deceleration	-8	11
2024-07-26	20.16	18.35	26.30	4142856	Rotation Down	-14	19
2024-07-19	18.29	18.02	12.68	4588660	Rotation Down	-21	31
2024-07-12	16.45	17.72	-2.09	3104143	Deceleration	-25	33
2024-07-05	16.18	17.45	-3.84	2005011	Deceleration	-9	26
2024-06-28	17.44	17.18	7.60	6181689	Deceleration	7	21
2024-06-21	17.43	16.89	7.90	7640205	Deceleration	12	18
2024-06-14	18.88	16.60	17.25	4734946	Deceleration	33	21
2024-06-07	22.40	16.26	44.29	2457322	Upward Expansion	46	38
2024-05-31	23.50	15.82	56.49	2261553	Upward Expansion	61	54
2024-05-24	24.13	15.37	60.20	3174266	Upward Expansion	64	81
2024-05-17	23.17	14.84	58.12	3763520	Upward Expansion	65	86
2024-05-10	26.57	14.36	87.96	4486195	Upward Expansion	79	91
2024-05-03	28.35	13.77	107.31	7527014	Deceleration	90	91
2024-04-26	25.30	13.12	91.05	9406124	Deceleration	84	57
2024-04-19	15.66	12.57	25.14	6699162	Deceleration	38	27
2024-04-12	16.67	12.37	26.31	1607719	Deceleration	42	35
2024-04-05	17.02	12.14	28.84	1151705	Deceleration	44	37
2024-03-29	17.04	11.92	28.53	1271432	Upward Expansion	46	40
2024-03-22	16.58	11.71	24.90	1882437	Upward Expansion	51	48
2024-03-15	15.93	11.52	23.86	3116596	Upward Expansion	64	59
2024-03-08	16.79	11.34	28.96	1980119	Upward Expansion	67	66
2024-03-01	18.51	11.14	40.09	2278980	Upward Expansion	73	90
2024-02-23	18.00	10.86	39.24	1729296	Upward Expansion	72	90
2024-02-16	18.23	10.60	43.36	2188668	Upward Expansion	84	94
2024-02-09	18.70	10.34	45.29	3128956	Upward Expansion	96	98
2024-02-02	17.75	10.11	40.93	3683362	Rotation Up	97	96
2024-01-26	13.07	9.86	5.23	1275917	Rotation Up	59	72
2024-01-19	11.51	9.78	-7.25	1091290	Rotation Up	38	53
2024-01-12	10.59	9.81	-12.84	1478144	Balance	26	31
2024-01-05	10.17	9.89	-14.35	952876	Balance	-1	13
2023-12-29	10.19	9.99	-17.65	415743	Downward Expansion	-16	9
2023-12-22	9.45	10.00	-24.11	1342867	Downward Expansion	-50	30
2023-12-15	8.24	10.02	-33.84	1941087	Downward Expansion	-62	48
2023-12-08	8.11	10.05	-33.59	1242207	Downward Expansion	-66	44
2023-12-01	8.66	10.11	-29.59	941270	Downward Expansion	-59	35
2023-11-24	8.76	10.14	-29.54	367912	Downward Expansion	-48	26
2023-11-17	8.80	10.17	-29.60	1072086	Downward Expansion	-50	30
2023-11-10	9.09	10.24	-26.73	693102	Downward Expansion	-47	31
2023-11-03	9.92	10.27	-18.62	647924	Downward Expansion	-58	40
2023-10-27	8.43	10.27	-27.22	557839	Downward Expansion	-71	73
2023-10-20	8.73	10.33	-27.61	744105	Downward Expansion	-67	72

Price vs TrendBelow-6.0%

Trend directionRising+14.5%

Price vs current Fair ValuePremium+17.0%

Fair Value directionMoving away-27.4%

Relative Strength vs benchmarkLagging-3.0%

Relative strength directionWeakening-42.4%

Price momentumPositive+6.8%

Volume balanceDemand-led1.68×

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

-23 / ±100

-88.7 points since 2026-09-11

Energy

31 /100

-46.1 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.

CGEM Directional State ↗ CGEM Momentum Intelligence ↗

Comparative structural evidence

Why this architecture regime won

Every regime is evaluated

Balance45

Rotation Up17

Upward Expansion23

Deceleration70

Rotation Down63

Downward Expansion36

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 5%Rotation Up 3%Upward Expansion 36%Deceleration 11%Rotation Down 1%Downward Expansion 44%

Recent Trend Architecture ledger

Regime	Recognized	Last observation	Tenure	Move inside regime
Upward Expansion	2026-04-24	2026-10-09	Established	+17.5%
Deceleration	2026-04-10	2026-04-17	New	+3.6%
Upward Expansion	2025-12-05	2026-04-03	Established	+36.3%
Rotation Up	2025-11-21	2025-11-28	New	+20.1%
Downward Expansion	2024-10-11	2025-11-14	Extended	-47.3%
Balance	2024-09-06	2024-10-04	Developing	-9.1%
Deceleration	2024-08-02	2024-08-30	Developing	+10.4%
Rotation Down	2024-07-19	2024-07-26	New	+10.2%
Deceleration	2024-06-14	2024-07-12	Developing	-12.9%
Upward Expansion	2024-05-10	2024-06-07	Developing	-15.7%
Deceleration	2024-04-05	2024-05-03	Developing	+66.6%
Upward Expansion	2024-02-09	2024-03-29	Developing	-8.9%
Rotation Up	2024-01-19	2024-02-02	New	+54.2%
Balance	2024-01-05	2024-01-12	New	+4.1%

Classic Stage Analysis comparison

Stage 1 · Basing16

Stage 2 · Advancing44

Stage 3 · Distribution60

Stage 4 · Declining41

Legacy result: Stage 3 · Stage 3A · Churning. It remains visible while the experimental architecture is validated rather than being silently discarded.

Leadership versus QQQ

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: 53/100
Current Relative Strength: -2.99
Relative Strength direction: Weakening
Price momentum: +6.8%
Excess performance vs benchmark: -16.1%
Healthcare regime cohort: 16th percentile135 in cohort

Test CGEM trend persistence

Participation and structure

Is demand confirming the architecture?

Volume cannot overrule geometry

Relative volume1.16×

Latest completed volume relative to typical participation.

Up/down volume1.68×

Participation balance between advancing and declining observations.

Accumulation / distribution3 / 1

Recent participation evidence classified by demand and supply.

Activity alignment+50.0%

Current positive alignment across Activity and Trend.

Fast/slow rotationWeakening

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 CGEM Volume & Price ↗

Decision architecture

References that would change the structural read

Evidence levels, not orders

Fast Activity USD 16.46falling

Slow Activity USD 17.60rising

Trend Reference USD 16.52-6.0% close margin

Current Fair Value USD 13.28+17.0% close margin

Structural low USD 11.68shock / 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 +17.3%

Annualized volatility +81.4%

From structural high -33.0%

From structural low +130.7%

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 QQQ	Regime survived	Read
Near term	16	+1.3%-27.8% to +29.6%	+56.2%	+56.2%	-0.8%	+81.2%	Usable descriptive sample
Intermediate	6	+16.0%-36.9% to +63.5%	+50.0%	+50.0%	+21.7%	+66.7%	Usable descriptive sample
Extended	3	-10.3%-17.0% to +27.6%	+33.3%	+33.3%	-8.1%	+33.3%	Too little matched history
Full cycle	2	-33.2%-45.4% to -21.0%	+0.0%	+0.0%	-49.2%	+0.0%	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.

CGEM 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

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 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 ?

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