Week Ending: 28 August 2026

Australia AU Sector

Financial Services

For the week ending 28 August 2026, Financial Services declined 0.61% with 68 advancing, 78 declining, and 14 unchanged constituents. The index is equal weighted and built from country-listed equities.

Current architecture Balance

Directional pressure is compressed and neither side has durable control.

52 technical evidence
Index1597.75 1 week-0.61% Breadth43% Members160
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 Balance 3 completed weeks in this state
Trend acceptance 0.4% Index versus Trend Line
Persistence 75% Negative regime, shorter trend repairing
Participation 43% 68 advancing, 78 declining

Investor positioning lens

Is the evidence ready for capital?

A rules-based technical classification using trend, breadth, persistence, relative strength and path quality.

Current posture Hold and wait for confirmation

The evidence is balanced enough to avoid a defensive call, but not aligned enough for aggressive positioning.

52 technical evidence
out of 100
Evidence balance

Five-pillar map

Wait
Trend
52
Breadth
48
Persistence
45
Relative
42
Risk quality
91
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 12 percentage points.
Independent sentiment overlay Sentiment held separate

Qualified news coverage is too thin to alter the technical positioning view.

Evidence that would change the view
  1. A completed weekly reclaim of 1,591.38, the higher of Trend Line and Fair Value, would improve the structural case.
  2. Breadth holding above 55% for several completed weeks would show that repair is spreading.
  3. Positive 13 and 26-week relative performance would confirm that capital is rotating into the group.

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.

Index architecture Balance

Directional pressure is compressed and neither side has durable control.

State age3 weeks
Trend gateMixed
Fan width1.11%
Fast versus slow change0.60 pts
Above 67% Below 0%
Six completed weeks of price acceptance relative to the full Activity Line fan.
Index persistence

Negative regime, shorter trend repairing

75% agreement

The long trend remains negative, but shorter-horizon repair is now visible.

13-week
2.2%
26-week
-4.5%
39-week
-3.5%
52-week
-2.6%
Regime age2 weeks 52-week flips1 52-week boundary1641.04
Constituent trend persistence

Is the index move broadly durable?

99% coverage
Coherent positive19%
Coherent negative22%
Average horizon agreement77%
Positive horizon share47%
Weakening positives15
Repairing negatives42

158 constituents measured as of 28 Aug 2026. Median trend age is 24 weeks.

Custom stage map

Where constituents sit in the cycle

98% coverage
Stage 1 · Basing8%13 securities
Stage 2 · Advancing30%46 securities
Stage 3 · Distribution21%33 securities
Stage 4 · Declining41%64 securities
Re-acceleration watch5 Transition watch25 Relative strength leaders16% Fair Value repairs6

Measured as of 28 Aug 2026. Stages summarize price, Activity Line architecture, Fair Value position and relative evidence.

Architecture breadth

How market energy is distributed

72/100 mean confidence
Upward expansion
24% 38
Rotation up
15% 24
Deceleration
9% 14
Balance
19% 30
Rotation down
3% 5
Downward expansion
29% 45
Unresolved
0% 0

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

Weakening
Relative index 13-week relative trend Starting level
Rotation dashboard Weakening

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 index131.5
13-week trend134.3
4-week trend change2.03%
Weekly peer rank9 of 11
1 week
-1.4 pts relative
4 weeks
-5.7 pts relative
13 weeks
4.5 pts relative
26 weeks
8.6 pts relative
52 weeks
-2.2 pts relative

Market internals

Participation, dispersion and path risk

Equal-weight index evidence with constituent-level breadth and dispersion.

Breadth

Participation quality

Narrow
Advancing
68
Declining
78
Unchanged
14
4-week average 46%
13-week average 46%
Risk and persistence

Path quality

52-week lens
Annualised weekly volatility8.4%
Drawdown from 52-week high-7.0%
Positive weeks, last 1354%
Current directional run1 week
Turnover versus 13-week norm221%
Breadth impulse-3.5 pts
Cross-section

Return distribution

160 measured
Q1 -2.4% Median 0.0% Q3 1.4%
Average winner3.7%
Average loser-4.5%
Dispersion6.2 pts
Top-five upside share30%
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 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.

5/9 positive
Above Trend Line5/956% of industries
Constructive breadth5/9At least half advancing
Median industry0.46%3.06 pts dispersion
#1 Narrowing

Insurance - Life

2.75%
Participation33% vs Trend3.9% vs Fair Value17.5% Members3
#2 Advancing

Banks - Regional

2.29%
Participation100% vs Trend1.7% vs Fair Value10.8% Members7
#3 Advancing

Capital Markets

0.83%
Participation67% vs Trend6.8% vs Fair Value33.3% Members9
#4 Repairing

Credit Services

0.80%
Participation53% vs Trend-1.3% vs Fair Value5.1% Members15
#5 Advancing

Insurance - Property & Casualty

0.46%
Participation50% vs Trend2.1% vs Fair Value25.0% Members4
#6 Weakening

Banks - Diversified

-0.26%
Participation50% vs Trend-5.4% vs Fair Value15.3% Members4
#7 Weakening

Asset Management

-1.05%
Participation37% vs Trend-0.3% vs Fair Value8.6% Members106
#8 Narrowing

Insurance - Specialty

-5.33%
Participation0% vs Trend0.7% vs Fair Value21.7% Members3
#9 Contracting

Financial Conglomerates

-6.67%
Participation0% vs Trend-5.9% vs Fair Value-8.5% Members4

News and narrative

Does company news confirm the market tape?

Open Sentiment Intelligence
Sentiment evidence is still developing

Qualified company-level news coverage is not yet broad enough to influence the group view.

1 qualified records across 160 measured constituents.

Leadership tape

Leaders, laggards and contribution shape

Latest completed week, ranked on uncapped constituent returns.

Leading edge

1 BPHBPH Energy Limited
20.00% 2 EPYEarlypay Limited
16.00% 3 LFGLiberty Financial Group Limited
15.31% 4 BELBentley Capital Limited
12.50% 5 COGCOG Financial Services Limited
11.74%

Weakest edge

160 SEQSequoia Financial Group Limited
-26.09% 159 BWFBlackWall Limited
-25.93% 158 WAMWAM Capital Limited
-20.13% 157 BTNButn Limited
-20.00% 156 GDGGeneration Development Group Limited
-16.01%

Constituent ledger

Sector constituents

Top 100 of 160 shown, ranked by latest weekly return.

Rank Ticker Company Exchange Market cap Close Index contribution Return
1 BPH BPH Energy Limited ASX 4.06M 0.003 0.13 pts
20.00%
2 EPY Earlypay Limited ASX 34.31M 0.145 0.10 pts
16.00%
3 LFG Liberty Financial Group Limited ASX 1.09B 3.69 0.10 pts
15.31%
4 BEL Bentley Capital Limited ASX 761,279 0.009 0.08 pts
12.50%
5 COG COG Financial Services Limited ASX 336.97M 1.57 0.07 pts
11.74%
6 RMC Resimac Group Limited ASX 373.77M 0.94 0.07 pts
11.24%
7 CAF Centrepoint Alliance Limited ASX 76.70M 0.375 0.06 pts
10.29%
8 NOL NobleOak Life Limited ASX 106.89M 1.25 0.06 pts
9.65%
9 AEG ALANDEQGRP FPO [AEG] ASX 68.53M 0.089 0.05 pts
8.54%
10 SOR Strategic Elements Ltd ASX 23.50M 0.04 0.05 pts
8.11%
11 HUM Humm Group Limited ASX 219.64M 0.435 0.05 pts
7.41%
12 EZL Euroz Hartleys Group Limited ASX 220.84M 1.42 0.04 pts
7.14%
13 WZR Wisr Limited ASX 52.87M 0.03 0.04 pts
7.14%
14 AEF Australian Ethical Investment Limited ASX 542.97M 4.69 0.04 pts
6.59%
15 TEK Thorney Technologies Ltd ASX 39.52M 0.105 0.04 pts
6.06%
16 BHD Benjamin Hornigold Limited ASX 6.40M 0.265 0.04 pts
6.00%
17 WAG The Australian Wealth Advisors Group Limited ASX 44.64M 0.60 0.03 pts
4.35%
18 BBC BNK Banking Corporation Limited ASX 29.70M 0.27 0.02 pts
3.85%
19 LSF L1 Long Short Fund Limited ASX 3.09B 4.98 0.02 pts
3.75%
20 TGF Tribeca Global Natural Resources Limited ASX 210.03M 2.85 0.02 pts
3.64%
21 PPS Praemium Limited ASX 348.54M 0.715 0.02 pts
3.62%
22 JDO Judo Capital Holdings Limited ASX 1.14B 1.02 0.02 pts
3.57%
23 NAC NAOS Ex-50 Opportunities Company Limited ASX 26.56M 0.62 0.02 pts
3.33%
24 CIN Carlton Investments Ltd. ASX 975.96M 37.05 0.02 pts
3.23%
25 SDF Steadfast Group Limited ASX 6.48B 5.83 0.02 pts
3.19%
26 MYS MyState Limited ASX 838.46M 4.72 0.02 pts
3.04%
27 PE1 Pengana Private Equity Trust ASX 397.09M 1.48 0.02 pts
2.95%
28 WTL WT Financial Group Limited ASX 59.88M 0.175 0.02 pts
2.94%
29 PNC Pioneer Credit Limited ASX 129.50M 0.705 0.02 pts
2.92%
30 GLS L1 Global Long Short Fund Limited ASX 1.14B 2.12 0.02 pts
2.91%
31 FPC Fat Prophets Global Contrarian Fund Ltd ASX 44.42M 1.41 0.02 pts
2.55%
32 WMI WAM Microcap Limited ASX 410.75M 1.46 0.02 pts
2.46%
33 HGH Heartland Group Holdings Limited ASX 978.29M 1.06 0.02 pts
2.40%
34 IAG Insurance Australia Group Limited ASX 18.35B 7.85 0.01 pts
2.35%
35 SB2 Salter Brothers Emerging Companies Limited ASX 57.02M 0.6225 0.01 pts
2.05%
36 NGE NGE Capital Limited ASX 44.39M 1.32 0.01 pts
1.94%
37 RYD Ryder Capital Limited ASX 169.15M 2.12 0.01 pts
1.92%
38 TOP Thorney Opportunities Ltd ASX 99.70M 0.59 0.01 pts
1.72%
39 SUN Suncorp Group Limited ASX 19.71B 18.44 0.01 pts
1.71%
40 AIQ Alternative Investment Trust ASX 47.27M 1.39 0.01 pts
1.46%
41 BOQ Bank of Queensland Limited ASX 4.16B 6.43 0.01 pts
1.42%
42 SNC Sandon Capital Investments Limited ASX 113.24M 0.73 0.01 pts
1.39%
43 MQG Macquarie Group Limited ASX 95.64B 251.78 0.01 pts
1.35%
44 MFF MFF Capital Investments Limited ASX 3.17B 5.40 0.01 pts
1.31%
45 CD3 CD Private Equity Fund III ASX 59.97M 0.83 0.01 pts
1.22%
46 WHI Whitefield Income Limited ASX 214.47M 1.30 0.01 pts
1.17%
47 AMH AMCIL Limited ASX 286.22M 0.91 0.01 pts
1.11%
48 ARA Ariadne Australia Limited ASX 87.76M 0.465 0.01 pts
1.09%
49 PL8 Plato Income Maximiser Limited ASX 1.07B 1.44 0.01 pts
1.05%
50 ARG Argo Investments Limited ASX 6.95B 9.31 0.01 pts
0.98%
51 BFL BSP Financial Group Limited ASX 3.73B 8.00 0.01 pts
0.87%
52 BEN Bendigo and Adelaide Bank Limited ASX 6.04B 10.58 0.01 pts
0.86%
53 SEC Spheria Emerging Companies Limited ASX 142.65M 2.37 0.01 pts
0.85%
54 CAM Clime Capital Limited ASX 93.84M 0.685 0.00 pts
0.74%
55 GFL Global Masters Fund Limited ASX 32.50M 2.90 0.00 pts
0.69%
56 AFI Australian Foundation Investment Company Limited ASX 8.43B 6.91 0.00 pts
0.58%
57 ACQ Acorn Capital Investment Fund Limited ASX 81.58M 0.905 0.00 pts
0.56%
58 LFS Latitude Group Holdings Limited ASX 988.83M 0.935 0.00 pts
0.54%
59 PAC Pacific Current Group Limited ASX 330.58M 11.71 0.00 pts
0.52%
60 HUB HUB24 Limited ASX 6.22B 76.55 0.00 pts
0.45%
61 FSA FSA Group Limited ASX 158.18M 1.26 0.00 pts
0.40%
62 FGX Future Generation Australia Limited ASX 560.93M 1.36 0.00 pts
0.37%
63 NAB National Australia Bank Limited ASX 116.27B 38.29 0.00 pts
0.31%
64 CPU Computershare Limited ASX 22.57B 39.27 0.00 pts
0.23%
65 CCP Credit Corp Group Limited ASX 950.22M 14.02 0.00 pts
0.21%
66 ALI Argo Global Listed Infrastructure Limited ASX 495.47M 2.60 0.00 pts
0.21%
67 WBC Westpac Banking Corporation ASX 115.61B 33.90 0.00 pts
0.21%
68 AUB AUB Group Limited ASX 3.86B 29.36 0.00 pts
0.17%
69 APL Associate Global Partners Limited ASX 15.73M 0.265 0.00 pts
0.00%
70 CVW ClearView Wealth Limited ASX 416.79M 0.65 0.00 pts
0.00%
71 DJW Djerriwarrh Investments Limited ASX 784.65M 3.00 0.00 pts
0.00%
72 IAM Income Asset Management Group Limited ASX 17.69M 0.019 0.00 pts
0.00%
73 INV InvestSMART Group Limited ASX 12.73M 0.115 0.00 pts
0.00%
74 KAM K2 Asset Management Holdings Ltd ASX 12.05M 0.05 0.00 pts
0.00%
75 KAT Katana Capital Limited ASX 43.58M 1.38 0.00 pts
0.00%
76 LCE London City Equities Limited ASX 26.98M 0.85 0.00 pts
0.00%
77 MIR Mirrabooka Investments Limited ASX 570.84M 2.57 0.00 pts
0.00%
78 NSC NAOS Small Cap Opportunities Company Limited ASX 42.24M 0.32 0.00 pts
0.00%
79 PGF PM Capital Global Opportunities Fund Limited ASX 1.78B 3.25 0.00 pts
0.00%
80 QUE Queste Communications Ltd ASX 1.35M 0.05 0.00 pts
0.00%
81 SBZ Schoolblazer Limited ASX 84.07M 0.16 0.00 pts
0.00%
82 WQG WCM Global Growth Limited ASX 594.71M 2.14 0.00 pts
0.00%
83 SOL WHSP Holdings Limited ASX 16.80B 44.33 0.00 pts
-0.11%
84 WHF Whitefield Industrials Limited ASX 602.85M 4.97 0.00 pts
-0.20%
85 PPT Perpetual Limited ASX 2.34B 19.44 0.00 pts
-0.36%
86 WLE WAM Leaders Limited ASX 2.06B 1.33 0.00 pts
-0.37%
87 L1G L1 Group Limited ASX 3.35B 1.29 0.00 pts
-0.39%
88 KSL Kina Securities Limited ASX 353.20M 1.20 0.00 pts
-0.42%
89 CDO Cadence Opportunities Fund Limited ASX 36.09M 2.29 0.00 pts
-0.43%
90 PIA Pengana International Equities Limited ASX 282.48M 1.08 0.00 pts
-0.46%
91 CBA Commonwealth Bank of Australia ASX 259.07B 157.25 0.00 pts
-0.47%
92 WMA Wam Alternative Assets Limited ASX 195.47M 0.985 0.00 pts
-0.51%
93 AUI Australian United Investment Company Limited ASX 2.53B 11.69 0.00 pts
-0.52%
94 CDM Cadence Capital Limited ASX 233.17M 0.79 0.00 pts
-0.63%
95 QBE QBE Insurance Group Limited ASX 32.76B 21.93 0.00 pts
-0.63%
96 QRI Qualitas Real Estate Income Fund ASX 971.93M 1.54 0.00 pts
-0.65%
97 GVF Staude Capital Global Value Fund Limited ASX 277.92M 1.36 0.00 pts
-0.73%
98 WAA WAM Active Limited ASX 161.97M 1.07 -0.01 pts
-0.93%
99 MXT Metrics Master Income Trust ASX 2.33B 1.92 -0.01 pts
-1.03%
100 ANZ ANZ Group Holdings Limited ASX 109.78B 36.73 -0.01 pts
-1.08%

The index uses capped equal-weight weekly constituent returns. The ledger shows uncapped security returns so outliers remain visible for research.

Evidence context