Week Ending: 11 September 2026

Australia AU Sector

Utilities

For the week ending 11 September 2026, Utilities declined 1.95% with 7 advancing, 12 declining, and 4 unchanged constituents. The index is equal weighted and built from country-listed equities.

Current architecture Upward Expansion

The activity fan is positively ordered above a rising Trend Line with price accepted above it.

64 technical evidence
Index913.41 1 week-1.95% Breadth30% Members23
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 Upward Expansion 4 completed weeks in this state
Trend acceptance 10.9% Index versus Trend Line
Persistence 100% Positive across every horizon
Participation 30% 7 advancing, 12 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 Build exposure selectively

The evidence is constructive, but security selection and entry discipline still matter.

64 technical evidence
out of 100
Evidence balance

Five-pillar map

Selective
Trend
79
Breadth
34
Persistence
50
Relative
85
Risk quality
92
What supports the view
  • The index remains above a constructive Trend gate.
  • Relative performance is improving within its parent hierarchy.
What restrains conviction
  • Breadth remains too narrow or inconsistent for a high-conviction position.
  • Constituent persistence remains divided or predominantly negative.
  • Positive contribution is concentrated in a small leadership cohort.
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 close below the Trend Line at 823.56 would weaken the constructive case.
  2. Breadth falling below 45% while the index holds up would signal narrowing leadership.
  3. A turn to negative 13 and 26-week parent-relative performance would remove the rotation edge.

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 Upward Expansion

The activity fan is positively ordered above a rising Trend Line with price accepted above it.

State age4 weeks
Trend gateUp
Fan width8.35%
Fast versus slow change5.82 pts
Above 100% Below 0%
Six completed weeks of price acceptance relative to the full Activity Line fan.
Index persistence

Positive across every horizon

100% agreement

The 13, 26, 39 and 52-week trends all point upward, giving the advance broad horizon agreement.

13-week
15.0%
26-week
14.3%
39-week
12.2%
52-week
7.7%
Regime age4 weeks 52-week flips4 52-week boundary848.44
Constituent trend persistence

Is the index move broadly durable?

96% coverage
Coherent positive32%
Coherent negative32%
Average horizon agreement84%
Positive horizon share50%
Weakening positives1
Repairing negatives3

22 constituents measured as of 11 Sep 2026. Median trend age is 14 weeks.

Custom stage map

Where constituents sit in the cycle

96% coverage
Stage 1 · Basing14%3 securities
Stage 2 · Advancing32%7 securities
Stage 3 · Distribution18%4 securities
Stage 4 · Declining36%8 securities
Re-acceleration watch0 Transition watch0 Relative strength leaders41% Fair Value repairs3

Measured as of 11 Sep 2026. Stages summarize price, Activity Line architecture, Fair Value position and relative evidence.

Architecture breadth

How market energy is distributed

82/100 mean confidence
Upward expansion
36% 8
Rotation up
18% 4
Deceleration
5% 1
Balance
5% 1
Rotation down
0% 0
Downward expansion
36% 8
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

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

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 index104.0
13-week trend95.0
4-week trend change3.95%
Weekly peer rank4 of 11
1 week
0.4 pts relative
4 weeks
7.5 pts relative
13 weeks
15.6 pts relative
26 weeks
23.5 pts relative
52 weeks
12.7 pts relative

Market internals

Participation, dispersion and path risk

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

Breadth

Participation quality

Narrow
Advancing
7
Declining
12
Unchanged
4
4-week average 50%
13-week average 46%
Risk and persistence

Path quality

52-week lens
Annualised weekly volatility16.1%
Drawdown from 52-week high-2.0%
Positive weeks, last 1369%
Current directional run1 week
Turnover versus 13-week norm156%
Breadth impulse-17.0 pts
Cross-section

Return distribution

23 measured
Q1 -4.5% Median -1.3% Q3 0.8%
Average winner3.0%
Average loser-5.5%
Dispersion4.6 pts
Top-five upside share93%
Top-five capital share86%
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.

1/4 positive
Above Trend Line4/4100% of industries
Constructive breadth1/4At least half advancing
Median industry-1.64%2.43 pts dispersion
#1 Narrowing

Utilities - Diversified

0.65%
Participation33% vs Trend25.2% vs Fair Value23.7% Members3
#2 Weakening

Utilities - Regulated Gas

-1.10%
Participation67% vs Trend5.5% vs Fair Value-3.2% Members3
#3 Narrowing

Utilities - Renewable

-2.18%
Participation18% vs Trend5.4% vs Fair Value6.8% Members11
#4 Narrowing

Utilities - Independent Power Producers

-5.98%
Participation0% vs Trend7.3% vs Fair Value3.2% Members3

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.

0 qualified records across 23 measured constituents.

Leadership tape

Leaders, laggards and contribution shape

Latest completed week, ranked on uncapped constituent returns.

Leading edge

1 JNSJANUS FPO [JNS]
5.38% 2 CNQClean TeQ Water Limited
4.83% 3 EQUEquus Energy Limited
4.29% 4 RWLRubicon Water Limited
3.13% 5 ORGOrigin Energy Limited
1.94%

Weakest edge

23 CCECarnegie Clean Energy Limited
-12.50% 22 LPELocality Planning Energy Holdings Limited
-9.52% 21 H2GH2G Limited
-7.69% 20 GNEGenesis Energy Limited
-7.33% 19 EWCEnergy World Corporation Ltd
-6.94%

Constituent ledger

Sector constituents

All 23 measured constituents, ranked by latest weekly return.

Rank Ticker Company Exchange Market cap Close Index contribution Return
1 JNS JANUS FPO [JNS] ASX 122.90M 0.685 0.23 pts
5.38%
2 CNQ Clean TeQ Water Limited ASX 67.52M 0.76 0.21 pts
4.83%
3 EQU Equus Energy Limited ASX 74.69M 0.365 0.19 pts
4.29%
4 RWL Rubicon Water Limited ASX 40.32M 0.165 0.14 pts
3.13%
5 ORG Origin Energy Limited ASX 19.93B 11.57 0.08 pts
1.94%
6 BTE Botala Energy Limited ASX 27.31M 0.07 0.06 pts
1.45%
7 APA APA Group ASX 14.46B 10.92 0.00 pts
0.09%
8 GCM Green Critical Minerals Limited ASX 20.28M 0.105 0.00 pts
0.00%
9 KPO Kalina Power Limited ASX 73.33M 0.025 0.00 pts
0.00%
10 TPC TPC Consolidated Limited ASX 50.41M 4.20 0.00 pts
0.00%
11 VPR Volt Group Limited ASX 21.20M 0.13 0.00 pts
0.00%
12 MCY Mercury NZ Limited ASX 7.65B 5.37 -0.06 pts
-1.29%
13 CEN Contact Energy Limited ASX 7.47B 6.98 -0.07 pts
-1.55%
14 MEZ Meridian Energy Limited ASX 11.31B 4.27 -0.09 pts
-2.06%
15 AGL AGL Energy Limited ASX 5.65B 8.40 -0.16 pts
-3.67%
16 LGI LGI Limited ASX 219.29M 2.12 -0.19 pts
-4.35%
17 DEL Delorean Corporation Limited ASX 22.01M 0.087 -0.19 pts
-4.40%
18 FHE Frontier Energy Limited ASX 228.08M 0.205 -0.20 pts
-4.65%
19 EWC Energy World Corporation Ltd ASX 258.18M 0.067 -0.30 pts
-6.94%
20 GNE Genesis Energy Limited ASX 2.81B 2.15 -0.32 pts
-7.33%
21 H2G H2G Limited ASX 9.59M 0.012 -0.33 pts
-7.69%
22 LPE Locality Planning Energy Holdings Limited ASX 17.35M 0.095 -0.41 pts
-9.52%
23 CCE Carnegie Clean Energy Limited ASX 74.78M 0.175 -0.54 pts
-12.50%

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

Evidence context