Weekly structural research · GER · Basic Materials

SII Stage Analysis

Wheaton Precious Metals Corp.

Week ending 25 Sep 2026Close EUR 125.75Tenure NewBenchmark ^GDAXI

Screen this regime Supporting research Report data ↗

Executive diagnosis

What the Activity Line geometry says now

Structure, not prediction

Upward Expansion · Early 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 up within the current regime.
Fast Activity versus Slow Activity: improving.
Activity structure: wide and contracting.

Direction 64−100 bearish to +100 bullish

Energy 57/100directional strength

Maturity 16/100lifecycle context

Confidence 74/100evidence agreement

Trend gate Upstructural direction

Activity structure Widecontracting separation

Price acceptance +66.7%position within the Activity structure

Fair Value context +68.2%EUR 74.76 · 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
2026-09-25	125.75	113.94	11.83	4453	Upward Expansion	64	57
2026-09-18	130.85	114.31	17.39	6597	Rotation Up	67	86
2026-09-11	133.00	114.08	18.80	4770	Rotation Up	44	80
2026-09-04	134.15	113.73	18.34	6997	Rotation Up	50	81
2026-08-28	135.05	113.08	17.50	8481	Rotation Up	50	71
2026-08-21	133.75	112.43	19.11	2974	Rotation Up	48	49
2026-08-14	114.92	112.10	1.98	541	Downward Expansion	-6	18
2026-08-07	116.47	112.13	4.33	4642	Downward Expansion	-20	21
2026-07-31	95.35	111.84	-11.95	651	Downward Expansion	-64	71
2026-07-24	98.17	111.91	-7.29	291	Downward Expansion	-62	64
2026-07-17	90.16	112.07	-13.68	1129	Downward Expansion	-81	77
2026-07-10	96.12	112.45	-8.62	1118	Downward Expansion	-73	68
2026-07-03	104.35	112.55	-3.25	459	Rotation Down	-60	63
2026-06-26	100.65	112.19	-2.12	477	Rotation Down	-40	59
2026-06-19	103.55	111.98	-0.11	811	Rotation Down	-34	47
2026-06-12	100.40	111.40	-1.40	701	Balance	-39	45
2026-06-05	103.85	111.04	1.82	2065	Balance	-26	32
2026-05-29	113.40	110.38	10.17	4138	Balance	7	15
2026-05-22	108.26	109.39	6.78	8892	Balance	2	14
2026-05-15	110.71	108.60	14.08	8479	Balance	8	11
2026-05-08	114.50	107.89	17.06	14058	Balance	20	11
2026-05-01	107.81	107.08	11.24	8618	Upward Expansion	21	16
2026-04-24	119.34	106.60	24.81	9256	Upward Expansion	46	30
2026-04-17	128.73	105.68	32.63	11094	Upward Expansion	58	29
2026-04-10	123.14	104.39	32.82	13241	Upward Expansion	34	23
2026-04-03	116.45	103.30	30.13	14128	Upward Expansion	25	22
2026-03-27	107.87	102.39	26.39	39357	Upward Expansion	27	20
2026-03-20	101.04	101.62	19.00	39270	Upward Expansion	29	27
2026-03-13	123.12	100.96	39.48	25162	Upward Expansion	62	54
2026-03-06	127.40	99.52	45.18	39390	Upward Expansion	64	58
2026-02-27	136.62	98.16	47.25	19363	Upward Expansion	86	68
2026-02-20	123.96	96.26	35.55	17470	Upward Expansion	73	60
2026-02-13	122.52	94.76	37.28	19167	Upward Expansion	75	66
2026-02-06	114.60	93.19	30.86	61785	Upward Expansion	65	75
2026-01-30	115.74	91.94	34.39	62448	Upward Expansion	67	84
2026-01-23	123.86	90.64	43.25	35681	Upward Expansion	91	94
2026-01-16	115.79	88.99	33.56	17056	Upward Expansion	87	84
2026-01-09	107.67	87.72	25.72	17674	Upward Expansion	78	75
2026-01-02	97.56	86.77	18.27	15682	Upward Expansion	63	69
2025-12-26	102.79	86.10	26.49	9934	Upward Expansion	72	76
2025-12-19	101.59	85.19	26.39	13498	Upward Expansion	75	74
2025-12-12	99.35	84.32	25.16	19534	Upward Expansion	70	62
2025-12-05	93.27	83.31	19.19	13813	Deceleration	57	42
2025-11-28	94.43	82.70	22.38	7415	Deceleration	61	32
2025-11-21	86.36	81.90	16.21	9252	Deceleration	26	15
2025-11-14	89.42	81.38	16.82	13989	Deceleration	33	22
2025-11-07	84.07	80.82	11.84	10113	Deceleration	25	21
2025-10-31	83.87	80.40	10.08	16363	Deceleration	34	20
2025-10-24	84.31	79.79	9.63	41154	Upward Expansion	44	31
2025-10-17	89.56	79.32	18.72	17302	Upward Expansion	61	49
2025-10-10	90.30	78.60	18.17	20482	Upward Expansion	65	57
2025-10-03	93.22	77.84	21.96	16283	Upward Expansion	75	77
2025-09-26	91.81	76.86	24.10	19143	Upward Expansion	75	85
2025-09-19	89.96	75.95	22.88	7226	Upward Expansion	71	81
2025-09-12	90.53	75.12	24.02	7327	Upward Expansion	81	83
2025-09-05	89.22	74.24	23.39	9907	Upward Expansion	81	76
2025-08-29	84.75	73.40	16.40	1772	Upward Expansion	71	68
2025-08-22	81.10	72.59	9.74	2972	Upward Expansion	59	60
2025-08-15	80.10	71.75	8.66	5648	Upward Expansion	60	61
2025-08-08	86.46	70.94	18.56	8388	Upward Expansion	80	60
2025-08-01	79.49	69.91	12.97	3060	Upward Expansion	62	39
2025-07-25	79.11	69.11	9.08	3247	Upward Expansion	64	38
2025-07-18	75.30	68.28	3.77	3217	Upward Expansion	43	28
2025-07-11	77.34	67.60	6.82	7024	Upward Expansion	60	39
2025-07-04	76.73	66.92	8.29	3614	Upward Expansion	58	40
2025-06-27	74.37	66.30	4.19	6966	Upward Expansion	59	43
2025-06-20	77.70	65.77	12.37	5943	Upward Expansion	62	56
2025-06-13	78.93	65.18	13.83	9607	Upward Expansion	70	61
2025-06-06	77.50	64.39	8.62	8273	Upward Expansion	67	46
2025-05-30	75.46	63.79	7.53	4244	Upward Expansion	64	46
2025-05-23	75.73	63.27	9.90	9409	Upward Expansion	69	46
2025-05-16	69.01	62.77	-0.10	18337	Upward Expansion	56	40
2025-05-09	75.00	62.47	9.93	7759	Upward Expansion	73	59
2025-05-02	70.44	61.81	5.45	3288	Upward Expansion	60	49
2025-04-25	70.62	61.27	10.03	17933	Upward Expansion	61	48
2025-04-18	72.70	60.77	19.18	9035	Upward Expansion	75	57
2025-04-11	71.31	60.19	22.25	10522	Upward Expansion	74	55
2025-04-04	65.76	59.67	11.81	32588	Upward Expansion	64	56
2025-03-28	70.12	59.21	10.05	5031	Upward Expansion	82	77
2025-03-21	68.06	58.70	5.39	8626	Upward Expansion	78	74
2025-03-14	67.45	58.26	4.53	4572	Upward Expansion	80	81
2025-03-07	63.83	57.76	-0.68	4625	Upward Expansion	66	78
2025-02-28	64.39	57.30	2.59	8833	Upward Expansion	68	82
2025-02-21	65.14	56.88	5.54	12219	Upward Expansion	77	85
2025-02-14	64.07	56.48	3.39	11033	Upward Expansion	76	76
2025-02-07	63.99	56.15	7.07	7003	Deceleration	75	59
2025-01-31	60.38	55.80	1.61	5674	Deceleration	49	25
2025-01-24	56.15	55.49	-3.83	7100	Deceleration	10	9
2025-01-17	55.57	55.23	-2.47	4872	Deceleration	7	14
2025-01-10	55.65	55.00	1.12	7445	Deceleration	6	16
2025-01-03	55.59	54.75	2.70	2684	Deceleration	8	16
2024-12-27	54.09	54.50	-0.32	2635	Deceleration	1	12
2024-12-20	54.82	54.37	1.60	7126	Deceleration	21	13
2024-12-13	57.15	54.24	3.28	6521	Deceleration	38	25
2024-12-06	58.00	54.03	5.05	3906	Deceleration	39	23
2024-11-29	58.36	53.77	9.99	5997	Upward Expansion	43	29
2024-11-22	60.24	53.41	15.55	15398	Upward Expansion	68	44
2024-11-15	55.17	53.05	6.82	11775	Upward Expansion	60	46
2024-11-08	59.47	52.82	15.37	6787	Upward Expansion	65	78
2024-11-01	59.78	52.51	16.17	4421	Upward Expansion	71	79
2024-10-25	60.65	52.04	16.94	7706	Upward Expansion	82	77
2024-10-18	60.12	51.45	15.14	6338	Upward Expansion	84	61
2024-10-11	55.15	50.80	7.43	5914	Upward Expansion	58	41
2024-10-04	54.31	50.29	7.38	3124	Upward Expansion	58	43
2024-09-27	55.74	49.81	8.58	4545	Upward Expansion	66	46
2024-09-20	55.19	49.22	12.19	1160	Upward Expansion	66	48
2024-09-13	55.63	48.57	13.51	2719	Upward Expansion	72	56
2024-09-06	51.90	48.06	8.57	4753	Upward Expansion	58	45
2024-08-30	54.80	47.72	11.27	1455	Upward Expansion	71	50
2024-08-23	55.03	47.31	13.75	1522	Upward Expansion	76	47
2024-08-16	52.31	46.87	10.39	1956	Upward Expansion	60	39
2024-08-09	50.03	46.50	9.56	8336	Upward Expansion	59	47
2024-08-02	51.95	46.27	14.53	5275	Upward Expansion	64	76
2024-07-26	53.01	45.97	12.53	5310	Upward Expansion	66	81
2024-07-19	54.29	45.66	17.26	8549	Upward Expansion	80	82
2024-07-12	53.45	45.34	12.40	12077	Deceleration	78	61
2024-07-05	51.11	45.03	9.43	1873	Deceleration	56	35
2024-06-28	48.31	44.76	5.10	1357	Deceleration	38	23
2024-06-21	48.57	44.62	6.34	5265	Upward Expansion	42	29
2024-06-14	48.29	44.41	6.90	3266	Upward Expansion	48	37
2024-06-07	48.02	44.16	3.32	7648	Upward Expansion	60	50
2024-05-31	50.34	43.87	8.70	4214	Upward Expansion	64	64
2024-05-24	50.68	43.55	8.42	10818	Upward Expansion	70	62
2024-05-17	51.00	43.17	9.20	8480	Upward Expansion	75	66
2024-05-10	50.29	42.81	7.34	8553	Upward Expansion	74	74
2024-05-03	47.60	42.45	5.87	6621	Upward Expansion	66	81
2024-04-26	49.17	42.08	8.22	13676	Upward Expansion	74	85
2024-04-19	48.45	41.68	9.16	7503	Upward Expansion	76	83
2024-04-12	50.05	41.40	11.58	7965	Upward Expansion	87	77
2024-04-05	45.88	41.07	0.88	18818	Rotation Down	54	40
2024-03-29	42.72	40.83	-7.88	6378	Rotation Down	13	14
2024-03-22	40.77	40.71	-11.01	3162	Rotation Down	-24	19
2024-03-15	39.89	40.61	-12.02	5494	Rotation Down	-23	49
2024-03-08	39.74	40.50	-12.09	8357	Rotation Down	-24	53
2024-03-01	38.08	40.45	-15.48	8900	Rotation Down	-30	56
2024-02-23	35.88	40.45	-19.09	8417	Rotation Down	-45	49
2024-02-16	40.33	40.55	-7.71	14276	Deceleration	-0	11
2024-02-09	41.69	40.49	-3.57	9798	Deceleration	27	21
2024-02-02	42.28	40.39	-2.23	2740	Deceleration	30	20
2024-01-26	41.89	40.22	-3.39	5454	Deceleration	34	21
2024-01-19	41.21	40.09	-2.77	3517	Upward Expansion	40	25
2024-01-12	43.26	39.98	1.03	5145	Upward Expansion	58	44
2024-01-05	42.92	39.87	0.88	3648	Upward Expansion	62	51
2023-12-29	43.70	39.79	1.67	4061	Upward Expansion	65	72
2023-12-22	44.58	39.70	4.03	7828	Upward Expansion	74	81
2023-12-15	44.14	39.56	2.76	12873	Upward Expansion	74	80
2023-12-08	43.06	39.53	0.28	7008	Rotation Up	69	75
2023-12-01	44.09	39.58	4.94	5258	Rotation Up	55	65
2023-11-24	42.23	39.63	2.98	5176	Balance	46	54
2023-11-17	40.77	39.66	0.24	7533	Balance	34	37
2023-11-10	39.36	39.74	1.28	3689	Balance	14	21
2023-11-03	40.77	39.92	5.31	2573	Balance	6	18
2023-10-27	39.26	40.01	5.07	6443	Balance	-11	6
2023-10-20	40.38	40.14	7.49	4464	Balance	-3	8
2023-10-13	39.36	40.21	2.31	7257	Balance	-28	19
2023-10-06	36.39	40.24	-5.62	8313	Balance	-60	30

Price vs TrendAbove+10.4%

Trend directionRising+1.7%

Price vs current Fair ValuePremium+68.2%

Fair Value directionClosing upward+20.8%

Relative Strength vs benchmarkLeading+11.8%

Relative strength directionImproving+13.9%

Price momentumPositive+16.6%

Volume balanceSupply-led0.64×

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

64 / ±100

+13.6 points since 2026-08-28

Energy

57 /100

-14.0 points since 2026-08-28

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

SII Directional State ↗ SII Momentum Intelligence ↗

Comparative structural evidence

Why this architecture regime won

Every regime is evaluated

Balance21

Rotation Up69

Upward Expansion83

Deceleration62

Rotation Down13

Downward Expansion9

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

2023-10-06 to 2026-09-25 · 156 classified observations out of 156 shown.

Balance 9%Rotation Up 5%Upward Expansion 62%Deceleration 15%Rotation Down 6%Downward Expansion 4%

Recent Trend Architecture ledger

Regime	Recognized	Last observation	Tenure	Move inside regime
Upward Expansion	2026-09-25	2026-09-25	New	+0.0%
Rotation Up	2026-08-21	2026-09-18	Developing	-2.2%
Downward Expansion	2026-07-10	2026-08-14	Developing	+19.6%
Rotation Down	2026-06-19	2026-07-03	New	+0.8%
Balance	2026-05-08	2026-06-12	Developing	-12.3%
Upward Expansion	2025-12-12	2026-05-01	Established	+8.5%
Deceleration	2025-10-31	2025-12-05	Developing	+11.2%
Upward Expansion	2025-02-14	2025-10-24	Extended	+31.6%
Deceleration	2024-12-06	2025-02-07	Developing	+10.3%
Upward Expansion	2024-07-19	2024-11-29	Established	+7.5%
Deceleration	2024-06-28	2024-07-12	New	+10.6%
Upward Expansion	2024-04-12	2024-06-21	Developing	-3.0%
Rotation Down	2024-02-23	2024-04-05	Developing	+27.9%
Deceleration	2024-01-26	2024-02-16	New	-3.7%

Classic Stage Analysis comparison

Stage 1 · Basing39

Stage 2 · Advancing92

Stage 3 · Distribution56

Stage 4 · Declining8

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

Leadership versus ^GDAXI

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: 73/100
Current Relative Strength: 11.83
Relative Strength direction: Improving
Price momentum: +16.6%
Excess performance vs benchmark: +2.6%
Basic Materials regime cohort: 75th percentile12 in cohort

Test SII trend persistence

Participation and structure

Is demand confirming the architecture?

Volume cannot overrule geometry

Relative volume1.30×

Latest completed volume relative to typical participation.

Up/down volume0.64×

Participation balance between advancing and declining observations.

Accumulation / distribution2 / 4

Recent participation evidence classified by demand and supply.

Activity alignment+100.0%

Current positive alignment across Activity and Trend.

Fast/slow rotationImproving

Current relationship between Fast Activity and Slow Activity.

Structure stability+37.5%

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 SII Volume & Price ↗

Decision architecture

References that would change the structural read

Evidence levels, not orders

Fast Activity EUR 130.30rising

Slow Activity EUR 115.25rising

Trend Reference EUR 113.94+10.4% close margin

Current Fair Value EUR 74.76+68.2% close margin

Structural low EUR 89.16shock / 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 +7.1%

Annualized volatility +50.9%

From structural high -14.0%

From structural low +61.5%

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 ^GDAXI	Regime survived	Read
Near term	35	+2.4%-8.7% to +15.6%	+57.1%	+57.1%	-0.1%	+77.1%	Usable descriptive sample
Intermediate	12	+7.2%-18.5% to +23.9%	+58.3%	+58.3%	+2.2%	+41.7%	Usable descriptive sample
Extended	7	+9.4%-23.8% to +53.0%	+71.4%	+71.4%	+1.9%	+42.9%	Usable descriptive sample
Full cycle	4	+20.9%-11.0% to +72.7%	+50.0%	+50.0%	+4.9%	+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.

SII 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