Counter-trend rallies may occur, but primary structure and persistence do not yet support adding risk.
43
technical evidence
out of 100
out of 100
Financial Services
For the week ending 09 October 2026, Financial Services declined 0.82% with 60 advancing, 77 declining, and 22 unchanged constituents.
- Index level
- 1,510.09 Index points · base 1,000
- Weekly return
- -0.82%
- Measured companies
- 159 159 in the index universe
- Weekly breadth
- 60 up / 77 down 22 unchanged
- Weekly peer rank
- 5 of 11
Universe country-listed · Equity onlyPrice basis Adjusted weekly closeConstruction Capped equal-weight returns · Weekly rebuild
156 completed weeks
Financial Services price and trend
Current architecture
Downward Expansion
4 completed weeks in this state
Trend acceptance
-3.5%
Index versus Trend Line
Persistence
100%
Negative across every horizon
Participation
38%
60 advancing, 77 declining
Index Value
Trend Line
Fair Value
Activity Lines
Constructive Transition Defensive
Weekly index closes and the Trend Line. Dashed grey shows the latest Fair Value reference; it is not a historical forecast. Enable the other overlays for more detail.
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
31
Breadth
38
Persistence
29
Relative
63
Risk quality
88
What supports the view
- Medium-term relative returns and peer standing remain constructive.
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 current 13-week parent-relative trend is weakening.
- Stage 4 declining constituents exceed Stage 2 advancing constituents by 34 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 fan is bearishly ordered below the Trend Line with price accepted beneath it.
State age4 weeks
Trend gateDown
Fan width2.55%
Fast versus slow change-1.56 pts
Above 0%
Below 100%
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
-5.2%
26-week
-4.5%
39-week
-11.6%
52-week
-10.5%
Constituent trend persistence
99% coverage
Is the index move broadly durable?
32%positive
Coherent positive9%
Coherent negative37%
Average horizon agreement81%
Positive horizon share34%
Weakening positives27
Repairing negatives21
158 constituents measured as of 2 Oct 2026. Median trend age is 22 weeks.
Custom stage map
97% coverage
Where constituents sit in the cycle
52%Stage 4
Stage 1 · Basing7%11 securities
Stage 2 · Advancing18%28 securities
Stage 3 · Distribution23%35 securities
Stage 4 · Declining52%81 securities
Re-acceleration watch3
Transition watch15
Relative strength leaders18%
Fair Value repairs6
Measured as of 9 Oct 2026. Stages summarize price, Activity Line architecture, Fair Value position and relative evidence.
Architecture breadth
77/100 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
The relative index starts at 100. Above 100 means this group has outperformed AU Market Structure since the first plotted date; below 100 means it has lagged. A rising line can show relative improvement even when both markets are falling.
Relative index129.2
13-week trend129.5
4-week trend change-0.47%
Weekly peer rank5 of 11
1 week
0.5 pts
relative
4 weeks
2.1 pts
relative
13 weeks
-1.6 pts
relative
26 weeks
6.7 pts
relative
52 weeks
7.0 pts
relative
Market internals
Participation, dispersion and path risk
Equal-weight index evidence with constituent-level breadth and dispersion.
Breadth
Narrow
Participation quality
38%
advanced
- Advancing
- 60
- Declining
- 77
- Unchanged
- 22
Risk and persistence
52-week lens
Path quality
Annualised weekly volatility8.4%
Drawdown from 52-week high-12.0%
Positive weeks, last 1331%
Current directional run3 weeks
Turnover versus 13-week norm175%
Breadth impulse-1.6 pts
Cross-section
159 measured
Return distribution
13Below −5%8%
50−5% to −1%31%
51−1% to +1%32%
35+1% to +5%22%
10Above +5%6%
Weekly returns across measured companies. Bars are scaled to the largest group; percentages show each group’s share.
Q1 -2.6%
Median 0.0%
Q3 1.6%
Average winner2.8%
Average loser-4.0%
Dispersion4.8 pts
Top-five upside share19%
Top-five capital share72%
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 price change
Index price change over 30 weeks, or the available history if shorter. Green above zero; red below.
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.
2/8
positive
Above Trend Line2/825% of industries
Constructive breadth3/8At least half advancing
Median industry-1.30%2.47 pts dispersion
#1
Advancing
Insurance - Property & Casualty
4.45%
Participation100%
vs Trend6.1%
vs Fair Value30.2%
Members4
#2
Advancing
Insurance - Specialty
3.46%
Participation100%
vs Trend0.2%
vs Fair Value20.3%
Members3
#3
Weakening
Asset Management
-0.98%
Participation34%
vs Trend-3.8%
vs Fair Value2.2%
Members106
#4
Weakening
Banks - Regional
-1.15%
Participation29%
vs Trend-1.2%
vs Fair Value5.6%
Members7
#5
Weakening
Banks - Diversified
-1.45%
Participation0%
vs Trend-4.7%
vs Fair Value11.5%
Members4
#6
Weakening
Capital Markets
-1.76%
Participation78%
vs Trend-4.4%
vs Fair Value19.3%
Members9
#7
Contracting
Credit Services
-2.02%
Participation20%
vs Trend-5.9%
vs Fair Value-4.0%
Members15
#8
Contracting
Financial Conglomerates
-2.42%
Participation25%
vs Trend-14.3%
vs Fair Value-19.7%
Members4
Industry participation
Where are returns broadly supported?
Compare the weekly result with the share of companies advancing.
↑ Companies advancing · 50% marks half of measured companies
−4.5%Weekly index return · zero at centre+4.5%
Compare return with participationHover or focus a marker for the full reading. Select it to open the report.
Markers show weekly return rank. Hover or focus for the name. Fine lines connect separated markers to their actual positions. Up, down and unchanged companies all count in participation.
Australia · Weekly return relationships
Which markets move together?
Compare sectors and industries within Australia over the same 52-week window. Strong positive relationships can mean that apparently different holdings share the same risk.
Closest: Technology and Industrials (0.84; 52 weeks).
11 indexes · 55 qualifying pairsClosest: Gold and Other Precious Metals & Mining (0.96; 52 weeks).
88 indexes · 3828 qualifying pairs−1 · Opposite0 · No linear link+1 · Together
Read the market at the top against the market at the left. The diagonal compares each index with itself. Up to 10 indexes are shown, ordered by constituent coverage. Select a cell to inspect a pair, or use the selectors for other markets.
Closest to the reference
Pearson correlation of weekly percentage returns through 9 Oct 2026: +1 means moving together, 0 little linear relationship, −1 moving in opposite directions. Requires 39 matching observations for the 52-week comparison and 10 for the recent 13 weeks. Missing weeks are excluded, not filled with zero. Constant series have no defined correlation. These are local-currency, capped equal-weight indexes; sectors and their component industries overlap. A lower correlation does not establish a hedge.
Sector correlations compare broad business groups. Industry correlations reveal closer links within and across sectors. The selectors retain all qualified groups; the matrix shows the ten largest by company coverage.
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 159 measured constituents.Leadership tape
Leaders, laggards and contribution shape
Latest completed week, ranked on uncapped constituent returns.
Constituent ledger
Sector constituents
Top 100 of 159 shown, 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.