Weekly structural research · NYSEARCA · Market

EZM Stage Analysis

WISDOMTREE TRUST US MIDCAP FUND

Week ending 25 Sep 2026Close USD 72.97Tenure NewBenchmark SPY

Screen this regime Supporting research Report data ↗

Executive diagnosis

What the Activity Line geometry says now

Structure, not prediction

Deceleration · Recompressing

The upward structure remains, but its energy is decelerating.

Trend remains positive, but Activity or price acceptance is losing strength. This can become a healthy recompression, a re-acceleration, or a Rotation Down.

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

Direction -10−100 bearish to +100 bullish

Energy 24/100directional strength

Maturity 57/100lifecycle context

Confidence 81/100evidence agreement

Trend gate Upstructural direction

Activity structure Compressedcontracting separation

Price acceptance -33.3%position within the Activity structure

Fair Value context +16.7%USD 62.53 · 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
2026-09-25	72.97	72.87	-5.28	87958	Deceleration	-10	24
2026-09-18	73.58	72.79	-3.38	84135	Deceleration	15	19
2026-09-11	74.83	72.72	-1.88	40950	Upward Expansion	40	26
2026-09-04	76.09	72.59	-1.04	66576	Upward Expansion	58	45
2026-08-28	75.86	72.44	-1.32	56876	Upward Expansion	62	53
2026-08-21	76.44	72.21	-0.17	63477	Upward Expansion	65	66
2026-08-14	77.63	71.98	-0.05	102621	Upward Expansion	79	75
2026-08-07	77.06	71.72	-0.64	84352	Upward Expansion	77	63
2026-07-31	75.84	71.46	1.25	64778	Upward Expansion	68	54
2026-07-24	75.59	71.17	2.06	89906	Upward Expansion	68	56
2026-07-17	75.55	70.91	1.45	89488	Upward Expansion	70	62
2026-07-10	75.04	70.64	-0.78	110318	Upward Expansion	66	65
2026-07-03	75.00	70.39	0.48	70939	Upward Expansion	69	73
2026-06-26	75.14	70.13	2.83	114129	Upward Expansion	73	73
2026-06-19	74.47	69.84	-0.46	66629	Upward Expansion	70	71
2026-06-12	75.06	69.50	1.22	79859	Upward Expansion	80	68
2026-06-05	72.77	69.14	-1.29	79686	Upward Expansion	64	45
2026-05-29	72.99	68.87	-3.53	66078	Upward Expansion	68	48
2026-05-22	72.39	68.59	-3.02	81630	Upward Expansion	65	53
2026-05-15	70.85	68.36	-4.35	86453	Upward Expansion	61	66
2026-05-08	72.54	68.14	-2.02	86479	Upward Expansion	70	75
2026-05-01	71.80	67.82	-0.85	88473	Upward Expansion	64	62
2026-04-24	71.72	67.62	-0.10	144149	Deceleration	56	45
2026-04-17	72.13	67.42	0.96	229490	Deceleration	55	32
2026-04-10	69.71	67.20	1.92	90777	Deceleration	19	18
2026-04-03	67.71	67.06	2.56	173628	Deceleration	-21	32
2026-03-27	66.00	67.01	3.34	184003	Deceleration	-25	37
2026-03-20	65.40	66.99	0.07	84289	Deceleration	-4	24
2026-03-13	66.16	67.01	-0.67	107091	Upward Expansion	12	15
2026-03-06	67.83	66.92	0.21	75235	Upward Expansion	43	35
2026-02-27	70.56	66.73	2.10	87049	Upward Expansion	64	64
2026-02-20	71.46	66.41	2.85	65524	Upward Expansion	73	69
2026-02-13	70.93	66.14	3.23	145106	Upward Expansion	71	62
2026-02-06	71.57	65.86	2.81	153827	Upward Expansion	81	77
2026-01-30	68.90	65.57	-1.25	164522	Upward Expansion	64	72
2026-01-23	69.53	65.37	-0.10	300911	Upward Expansion	70	72
2026-01-16	69.84	65.09	-0.10	110099	Upward Expansion	80	78
2026-01-09	69.38	64.75	-1.22	109958	Upward Expansion	79	70
2026-01-02	67.17	64.42	-2.96	110700	Upward Expansion	61	61
2025-12-26	67.66	64.18	-3.39	81346	Upward Expansion	65	71
2025-12-19	67.39	63.90	-2.53	161179	Upward Expansion	64	70
2025-12-12	67.77	63.61	-1.97	100979	Upward Expansion	70	66
2025-12-05	67.02	63.38	-3.77	128370	Deceleration	65	47
2025-11-28	66.61	63.09	-4.22	70459	Deceleration	63	32
2025-11-21	64.22	62.80	-4.50	99402	Deceleration	21	11
2025-11-14	64.28	62.53	-6.50	71079	Deceleration	32	19
2025-11-07	64.67	62.20	-6.03	75978	Deceleration	35	21
2025-10-31	64.44	61.84	-8.11	100193	Deceleration	33	20
2025-10-24	65.48	61.47	-6.19	76207	Deceleration	43	25
2025-10-17	64.30	61.24	-6.26	140116	Deceleration	38	25
2025-10-10	62.83	61.05	-7.01	936413	Upward Expansion	43	33
2025-10-03	66.02	60.90	-4.83	107523	Upward Expansion	66	55
2025-09-26	65.67	60.69	-4.44	283176	Upward Expansion	63	57
2025-09-19	65.53	60.55	-5.06	207260	Upward Expansion	66	73
2025-09-12	65.62	60.42	-3.91	938992	Upward Expansion	67	85
2025-09-05	66.07	60.34	-1.85	55185	Upward Expansion	76	87
2025-08-29	65.53	60.23	-2.41	59688	Upward Expansion	78	83
2025-08-22	65.72	60.16	-2.29	80505	Upward Expansion	84	61
2025-08-15	63.69	60.10	-5.15	72970	Upward Expansion	73	49
2025-08-08	61.89	60.09	-7.06	90177	Rotation Up	59	43
2025-08-01	61.21	60.05	-5.99	63977	Rotation Up	36	54
2025-07-25	63.29	60.06	-5.32	73974	Rotation Up	47	71
2025-07-18	62.50	60.01	-5.32	134097	Rotation Up	40	65
2025-07-11	62.75	59.98	-4.48	85337	Rotation Up	38	60
2025-07-04	63.00	60.02	-4.45	71617	Rotation Up	39	51
2025-06-27	61.17	60.09	-5.66	124375	Balance	24	27
2025-06-20	59.66	60.26	-4.89	76318	Balance	-6	12
2025-06-13	59.41	60.46	-5.52	79670	Balance	-9	13
2025-06-06	60.03	60.59	-4.94	87468	Balance	-4	16
2025-05-30	59.16	60.75	-4.88	81123	Downward Expansion	-22	21
2025-05-23	58.75	60.79	-4.05	110807	Downward Expansion	-26	24
2025-05-16	60.90	60.85	-3.21	52199	Downward Expansion	-21	20
2025-05-09	58.30	60.90	-2.61	144252	Downward Expansion	-44	29
2025-05-02	57.85	61.00	-3.94	104858	Downward Expansion	-60	46
2025-04-25	56.24	61.09	-4.06	139393	Downward Expansion	-66	69
2025-04-18	54.40	61.25	-3.12	215483	Downward Expansion	-72	83
2025-04-11	53.92	61.46	-5.49	343938	Downward Expansion	-80	85
2025-04-04	53.24	61.62	-1.58	142786	Downward Expansion	-91	88
2025-03-28	58.47	61.75	-1.86	194566	Rotation Down	-70	76
2025-03-21	58.59	61.82	-3.27	89815	Rotation Down	-45	66
2025-03-14	58.37	61.88	-3.29	250209	Deceleration	-48	58
2025-03-07	59.75	61.88	-3.40	226367	Deceleration	-29	33
2025-02-28	61.44	61.78	-3.88	206559	Deceleration	3	9
2025-02-21	61.63	61.65	-4.66	106375	Deceleration	18	10
2025-02-14	63.14	61.61	-4.03	716326	Deceleration	36	27
2025-02-07	62.85	61.46	-3.21	98568	Deceleration	35	25
2025-01-31	63.58	61.31	-2.37	92937	Deceleration	37	20
2025-01-24	63.72	61.04	-3.26	76288	Deceleration	25	13
2025-01-17	63.39	60.80	-2.27	163218	Deceleration	26	20
2025-01-10	60.64	60.56	-3.89	95500	Deceleration	5	21
2025-01-03	61.77	60.39	-4.20	112349	Deceleration	24	24
2024-12-27	61.66	60.20	-5.08	729232	Upward Expansion	34	21
2024-12-20	61.53	60.08	-4.92	92021	Upward Expansion	55	40
2024-12-13	64.18	59.95	-2.90	118416	Upward Expansion	64	72
2024-12-06	65.10	59.76	-2.29	96125	Upward Expansion	65	80
2024-11-29	66.26	59.51	0.18	54800	Upward Expansion	79	85
2024-11-22	65.66	59.20	0.37	68450	Upward Expansion	81	78
2024-11-15	63.26	58.90	-1.72	203961	Upward Expansion	67	56
2024-11-08	64.66	58.64	-1.71	102227	Upward Expansion	82	66
2024-11-01	60.43	58.36	-3.80	211438	Upward Expansion	57	46
2024-10-25	60.62	58.28	-4.96	49700	Upward Expansion	59	54
2024-10-18	62.36	58.24	-3.28	75106	Upward Expansion	72	68
2024-10-11	61.28	58.09	-4.23	86448	Upward Expansion	63	60
2024-10-04	60.70	57.93	-4.14	71264	Upward Expansion	60	50
2024-09-27	60.98	57.81	-3.56	85102	Upward Expansion	63	35
2024-09-20	60.50	57.67	-3.94	66619	Upward Expansion	63	34
2024-09-13	58.90	57.51	-5.28	131410	Upward Expansion	49	34
2024-09-06	57.17	57.40	-4.55	72111	Upward Expansion	42	30
2024-08-30	60.35	57.34	-3.55	88495	Upward Expansion	64	42
2024-08-23	60.38	57.15	-3.42	56343	Upward Expansion	66	33
2024-08-16	58.43	56.98	-5.37	114335	Upward Expansion	52	29
2024-08-09	56.94	56.85	-4.29	78567	Upward Expansion	44	41
2024-08-02	57.31	56.77	-3.84	109059	Upward Expansion	53	45
2024-07-26	60.44	56.67	-0.95	96775	Balance	74	65
2024-07-19	58.84	56.51	-4.49	169202	Balance	50	29
2024-07-12	58.28	56.41	-7.42	102278	Balance	30	12
2024-07-05	55.51	56.29	-11.18	68357	Balance	-22	28
2024-06-28	56.44	56.18	-8.22	148540	Balance	7	17
2024-06-21	56.17	56.03	-8.91	172149	Balance	8	14
2024-06-14	55.50	55.83	-9.58	183676	Balance	3	6
2024-06-07	56.32	55.65	-6.92	99308	Upward Expansion	42	26
2024-05-31	57.87	55.36	-3.33	134031	Upward Expansion	55	40
2024-05-24	57.59	55.06	-4.24	83580	Upward Expansion	53	39
2024-05-17	58.42	54.65	-2.93	107344	Deceleration	65	41
2024-05-10	57.87	54.26	-2.30	64298	Deceleration	47	24
2024-05-03	56.96	53.92	-2.09	80112	Deceleration	33	22
2024-04-26	56.62	53.61	-2.16	119813	Upward Expansion	37	21
2024-04-19	55.43	53.36	-1.75	91460	Upward Expansion	46	36
2024-04-12	56.31	53.13	-3.33	91701	Upward Expansion	62	53
2024-04-05	57.95	52.93	-2.07	149839	Upward Expansion	66	70
2024-03-29	59.40	52.68	-0.56	148261	Upward Expansion	88	87
2024-03-22	57.81	52.45	-2.95	118920	Upward Expansion	79	81
2024-03-15	56.59	52.20	-2.99	171971	Upward Expansion	67	75
2024-03-08	57.11	52.00	-2.25	97120	Upward Expansion	76	73
2024-03-01	56.62	51.83	-3.52	73613	Upward Expansion	75	66
2024-02-23	55.86	51.70	-4.18	770013	Upward Expansion	67	53
2024-02-16	55.53	51.61	-3.47	101956	Upward Expansion	66	54
2024-02-09	55.27	51.51	-4.54	240354	Upward Expansion	63	51
2024-02-02	54.70	51.41	-4.49	238627	Upward Expansion	59	50
2024-01-26	55.33	51.27	-2.34	392591	Upward Expansion	67	54
2024-01-19	54.54	51.13	-2.98	167644	Upward Expansion	62	58
2024-01-12	54.45	50.93	-2.20	112363	Upward Expansion	65	78
2024-01-05	54.36	50.77	-0.75	145097	Upward Expansion	67	84
2023-12-29	55.70	50.59	-0.03	200380	Upward Expansion	79	89
2023-12-22	55.73	50.33	0.26	361095	Rotation Up	87	89
2023-12-15	54.89	50.04	-0.44	97020	Rotation Up	59	71
2023-12-08	52.04	49.77	-3.43	111594	Rotation Up	34	40
2023-12-01	51.96	49.57	-3.50	101692	Rotation Up	31	32
2023-11-24	50.28	49.39	-5.99	70790	Deceleration	11	18
2023-11-17	50.00	49.29	-5.79	108385	Deceleration	-5	12
2023-11-10	47.65	49.21	-8.32	192896	Rotation Down	-33	35
2023-11-03	48.72	49.20	-5.24	202043	Rotation Down	-36	47
2023-10-27	45.45	49.12	-6.61	131207	Rotation Down	-57	75
2023-10-20	46.68	49.20	-6.65	329634	Rotation Down	-41	66
2023-10-13	47.54	49.16	-7.34	93668	Rotation Down	-36	60
2023-10-06	47.77	49.08	-6.65	122177	Deceleration	-34	43

Price vs TrendAbove+0.1%

Trend directionRising+2.8%

Price vs current Fair ValuePremium+16.7%

Fair Value directionMoving away-7.5%

Relative Strength vs benchmarkLagging-5.3%

Relative strength directionWeakening-8.1%

Price momentumPositive+10.6%

Volume balanceDemand-led1.50×

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

-10 / ±100

-72.0 points since 2026-08-28

Energy

24 /100

-28.9 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.

EZM Directional State ↗ EZM Momentum Intelligence ↗

Comparative structural evidence

Why this architecture regime won

Every regime is evaluated

Balance57

Rotation Up14

Upward Expansion42

Deceleration88

Rotation Down45

Downward Expansion34

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 7%Rotation Up 6%Upward Expansion 55%Deceleration 21%Rotation Down 5%Downward Expansion 6%

Recent Trend Architecture ledger

Regime	Recognized	Last observation	Tenure	Move inside regime
Deceleration	2026-09-18	2026-09-25	New	-0.8%
Upward Expansion	2026-05-01	2026-09-11	Established	+4.2%
Deceleration	2026-03-20	2026-04-24	Developing	+9.7%
Upward Expansion	2025-12-12	2026-03-13	Established	-2.4%
Deceleration	2025-10-17	2025-12-05	Developing	+4.2%
Upward Expansion	2025-08-15	2025-10-10	Developing	-1.4%
Rotation Up	2025-07-04	2025-08-08	Developing	-1.8%
Balance	2025-06-06	2025-06-27	New	+1.9%
Downward Expansion	2025-04-04	2025-05-30	Developing	+11.1%
Rotation Down	2025-03-21	2025-03-28	New	-0.2%
Deceleration	2025-01-03	2025-03-14	Developing	-5.5%
Upward Expansion	2024-08-02	2024-12-27	Established	+7.6%
Balance	2024-06-14	2024-07-26	Developing	+8.9%
Upward Expansion	2024-05-24	2024-06-07	New	-2.2%

Classic Stage Analysis comparison

Stage 1 · Basing27

Stage 2 · Advancing65

Stage 3 · Distribution81

Stage 4 · Declining35

Legacy result: Stage 3 · Stage 3A · Churning. 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

Lagging benchmark

Architecture confirmation: 44/100
Current Relative Strength: -5.28
Relative Strength direction: Weakening
Price momentum: +10.6%
Excess performance vs benchmark: -11.4%
Sector regime cohort: 48th percentile721 in cohort

Test EZM trend persistence

Participation and structure

Is demand confirming the architecture?

Volume cannot overrule geometry

Relative volume1.11×

Latest completed volume relative to typical participation.

Up/down volume1.50×

Participation balance between advancing and declining observations.

Accumulation / distribution5 / 2

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 EZM Volume & Price ↗

Decision architecture

References that would change the structural read

Evidence levels, not orders

Fast Activity USD 74.11falling

Slow Activity USD 74.43rising

Trend Reference USD 72.87+0.1% close margin

Current Fair Value USD 62.53+16.7% close margin

Structural low USD 65.31shock / repair context

What changes the read?

Renewed positive order and expanding width produce re-acceleration; fast/slow failure with downside acceptance produces Rotation Down.

Range context +2.2%

Annualized volatility +10.9%

From structural high -6.3%

From structural low +16.6%

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	17	+1.3%-7.4% to +10.3%	+52.9%	+52.9%	-1.1%	+47.1%	Usable descriptive sample
Intermediate	8	+3.9%-13.8% to +13.9%	+75.0%	+75.0%	-1.5%	+12.5%	Usable descriptive sample
Extended	6	+9.6%+2.0% to +12.6%	+100.0%	+100.0%	-3.1%	+33.3%	Usable descriptive sample
Full cycle	3	+1.6%-9.3% to +25.5%	+66.7%	+66.7%	-7.1%	+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.

EZM Stage Analysis

What the Activity Line geometry says now

The upward structure remains, but its energy is decelerating.

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 upward structure remains, but its energy is decelerating.

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