Counter-trend rallies may occur, but primary structure and persistence do not yet support adding risk.
36
technical evidence
out of 100
out of 100
Week Ending: 28 August 2026
Australia AU Sector
Consumer Defensive
For the week ending 28 August 2026, Consumer Defensive declined 0.03% with 26 advancing, 23 declining, and 11 unchanged constituents. The index is equal weighted and built from country-listed equities.
Current architecture
Unresolved
The Activity Lines, Trend Line and price acceptance remain genuinely mixed.
36
technical evidence
Index532.70
1 week-0.03%
Breadth43%
Members60
Country
🇦🇺 Australia · AU
Universe
country-listed
Price basis
Adjusted weekly close
Trend architecture
Index, activity fan and structural anchors
Rolling 156-week evidence. Trend Signal points mark weeks when price, trend and the activity fan confirmed together.
Index Value
Trend Line
Fair Value
Activity Lines
Constructive architecture
Transitional architecture
Defensive architecture
Current architecture
Unresolved
6 completed weeks in this state
Trend acceptance
-6.5%
Index versus Trend Line
Persistence
100%
Negative across every horizon
Participation
43%
26 advancing, 23 declining
Investor positioning lens
Is the evidence ready for capital?
A rules-based technical classification using trend, breadth, persistence, relative strength and path quality.
Evidence balance
Reduce
Five-pillar map
Trend
27
Breadth
41
Persistence
32
Relative
23
Risk quality
76
What supports the view
- No major confirming factor has secured control.
What restrains conviction
- Index trend architecture has not delivered a durable upward expansion.
- Breadth remains too narrow or inconsistent for a high-conviction position.
- Constituent persistence remains divided or predominantly negative.
- The group is not yet delivering dependable relative outperformance.
- Stage 4 declining constituents exceed Stage 2 advancing constituents by 41 percentage points.
This is a weekly research classification, not personal investment advice. Sentiment is reported as an independent confirmation layer and does not alter the technical score.
Trend state and durability
Architecture, persistence and constituent regimes
The index path is tested against the underlying security-level trend evidence.
The Activity Lines, Trend Line and price acceptance remain genuinely mixed.
State age6 weeks
Trend gateDown
Fan width2.46%
Fast versus slow change1.91 pts
Above 0%
Below 50%
Six completed weeks of price acceptance relative to the full Activity Line fan.
Index persistence
100% agreement
Negative across every horizon
The 13, 26, 39 and 52-week trends all point downward, confirming persistent contraction.
13-week
-2.2%
26-week
-16.8%
39-week
-22.7%
52-week
-22.3%
Constituent trend persistence
98% coverage
Is the index move broadly durable?
31%positive
Coherent positive19%
Coherent negative36%
Average horizon agreement83%
Positive horizon share33%
Weakening positives3
Repairing negatives15
59 constituents measured as of 28 Aug 2026. Median trend age is 24 weeks.
Custom stage map
98% coverage
Where constituents sit in the cycle
56%Stage 4
Stage 1 · Basing24%14 securities
Stage 2 · Advancing15%9 securities
Stage 3 · Distribution5%3 securities
Stage 4 · Declining56%33 securities
Re-acceleration watch2
Transition watch10
Relative strength leaders15%
Fair Value repairs11
Measured as of 28 Aug 2026. Stages summarize price, Activity Line architecture, Fair Value position and relative evidence.
Architecture breadth
75/100 mean confidence
How market energy is distributed
Architecture breadth shows the distribution of expanding, rotating, balancing and contracting securities. It is diagnostic context and is not added as a second vote in the positioning score.
Capital rotation
Performance relative to AU Market Structure
Relative index
13-week relative trend
Starting level
A rising relative line means this group is compounding faster than AU Market Structure. A falling line means capital has done better in the parent benchmark.
Relative index80.6
13-week trend83.3
4-week trend change0.71%
Weekly peer rank8 of 11
1 week
-0.8 pts
relative
4 weeks
-8.1 pts
relative
13 weeks
0.1 pts
relative
26 weeks
-3.8 pts
relative
52 weeks
-21.9 pts
relative
Market internals
Participation, dispersion and path risk
Equal-weight index evidence with constituent-level breadth and dispersion.
Breadth
Narrow
Participation quality
43%
advanced
- Advancing
- 26
- Declining
- 23
- Unchanged
- 11
Risk and persistence
52-week lens
Path quality
Annualised weekly volatility12.3%
Drawdown from 52-week high-23.9%
Positive weeks, last 1338%
Current directional run3 weeks
Turnover versus 13-week norm164%
Breadth impulse5.4 pts
Cross-section
60 measured
Return distribution
Q1 -3.0%
Median 0.0%
Q3 4.2%
Average winner6.6%
Average loser-8.3%
Dispersion9.6 pts
Top-five upside share46%
Top-five capital share85%
Capital data coverage100%
Dispersion describes how far constituent outcomes are spreading apart. Capital concentration is contextual only; the index itself is equal weighted.
Momentum cycle
30-week persistence
Positive readings show expansion. Negative readings show contraction.
Breadth cycle
Net participation
Advancers less decliners as a percentage of measured constituents.
Industry map
Where sector leadership is forming
Performance, breadth and trend acceptance across every qualified industry.
2/5
positive
Above Trend Line1/520% of industries
Constructive breadth2/5At least half advancing
Median industry-0.72%2.12 pts dispersion
#1
Repairing
Farm Products
2.65%
Participation60%
vs Trend-2.3%
vs Fair Value-5.6%
Members10
#2
Repairing
Packaged Foods
1.29%
Participation52%
vs Trend-5.1%
vs Fair Value-10.1%
Members25
#3
Contracting
Household & Personal Products
-0.72%
Participation33%
vs Trend-15.8%
vs Fair Value-22.0%
Members6
#4
Narrowing
Beverages - Wineries & Distilleries
-2.55%
Participation0%
vs Trend7.6%
vs Fair Value-25.2%
Members4
#5
Contracting
Education & Training Services
-2.78%
Participation33%
vs Trend-23.2%
vs Fair Value-40.9%
Members9
News and narrative
Does company news confirm the market tape?
Sentiment evidence is still developing
Qualified company-level news coverage is not yet broad enough to influence the group view.
0 qualified records across 60 measured constituents.Leadership tape
Leaders, laggards and contribution shape
Latest completed week, ranked on uncapped constituent returns.
Constituent ledger
Sector constituents
All 60 measured constituents, ranked by latest weekly return.
Rank
Ticker
Company
Exchange
Market cap
Close
Index contribution
Return
The index uses capped equal-weight weekly constituent returns. The ledger shows uncapped security returns so outliers remain visible for research.