The weight of trend, participation and relative evidence favours capital protection over new exposure.
28
technical evidence
out of 100
out of 100
Week Ending: 11 September 2026
China CN Sector
Healthcare
For the week ending 11 September 2026, Healthcare declined 3.65% with 50 advancing, 433 declining, and 3 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.
28
technical evidence
Index1198.27
1 week-3.65%
Breadth10%
Members486
Country
🇨🇳 China · CN
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
8 completed weeks in this state
Trend acceptance
-6.3%
Index versus Trend Line
Persistence
75%
Negative regime, shorter trend repairing
Participation
10%
50 advancing, 433 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
Defensive
Five-pillar map
Trend
32
Breadth
18
Persistence
21
Relative
17
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 60 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 age8 weeks
Trend gateDown
Fan width1.68%
Fast versus slow change1.52 pts
Above 50%
Below 17%
Six completed weeks of price acceptance relative to the full Activity Line fan.
Index persistence
75% agreement
Negative regime, shorter trend repairing
The long trend remains negative, but shorter-horizon repair is now visible.
13-week
2.1%
26-week
-12.8%
39-week
-12.6%
52-week
-16.0%
Constituent trend persistence
99% coverage
Is the index move broadly durable?
20%positive
Coherent positive9%
Coherent negative42%
Average horizon agreement84%
Positive horizon share26%
Weakening positives27
Repairing negatives157
482 constituents measured as of 11 Sep 2026. Median trend age is 16 weeks.
Custom stage map
99% coverage
Where constituents sit in the cycle
73%Stage 4
Stage 1 · Basing10%47 securities
Stage 2 · Advancing13%61 securities
Stage 3 · Distribution5%22 securities
Stage 4 · Declining73%350 securities
Re-acceleration watch3
Transition watch54
Relative strength leaders18%
Fair Value repairs24
Measured as of 11 Sep 2026. Stages summarize price, Activity Line architecture, Fair Value position and relative evidence.
Architecture breadth
73/100 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 CN Market Structure
Relative index
13-week relative trend
Starting level
A rising relative line means this group is compounding faster than CN Market Structure. A falling line means capital has done better in the parent benchmark.
Relative index78.9
13-week trend80.2
4-week trend change2.33%
Weekly peer rank11 of 11
1 week
-1.7 pts
relative
4 weeks
-6.5 pts
relative
13 weeks
5.4 pts
relative
26 weeks
-1.7 pts
relative
52 weeks
-16.2 pts
relative
Market internals
Participation, dispersion and path risk
Equal-weight index evidence with constituent-level breadth and dispersion.
Breadth
Narrow
Participation quality
10%
advanced
- Advancing
- 50
- Declining
- 433
- Unchanged
- 3
Risk and persistence
52-week lens
Path quality
Annualised weekly volatility22.9%
Drawdown from 52-week high-17.7%
Positive weeks, last 1331%
Current directional run4 weeks
Turnover versus 13-week norm150%
Breadth impulse-36.2 pts
Cross-section
486 measured
Return distribution
Q1 -5.7%
Median -3.7%
Q3 -2.0%
Average winner4.0%
Average loser-4.6%
Dispersion3.8 pts
Top-five upside share31%
Top-five capital share22%
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.
0/10
positive
Above Trend Line0/100% of industries
Constructive breadth0/10At least half advancing
Median industry-3.56%0.66 pts dispersion
#1
Contracting
Medical Distribution
-2.20%
Participation14%
vs Trend-4.2%
vs Fair Value-7.2%
Members14
#2
Weakening
Drug Manufacturers - General
-2.43%
Participation14%
vs Trend-3.5%
vs Fair Value8.1%
Members22
#3
Contracting
Medical Care Facilities
-3.15%
Participation11%
vs Trend-11.0%
vs Fair Value-21.3%
Members9
#4
Contracting
Health Information Services
-3.47%
Participation17%
vs Trend-4.2%
vs Fair Value-5.9%
Members6
#5
Weakening
Biotechnology
-3.56%
Participation16%
vs Trend-6.5%
vs Fair Value2.6%
Members109
#6
Weakening
Medical Instruments & Supplies
-3.57%
Participation15%
vs Trend-6.1%
vs Fair Value7.0%
Members46
#7
Weakening
Drug Manufacturers - Specialty & Generic
-3.66%
Participation8%
vs Trend-6.1%
vs Fair Value0.3%
Members184
#8
Contracting
Diagnostics & Research
-3.77%
Participation5%
vs Trend-5.2%
vs Fair Value-0.4%
Members19
#9
Contracting
Pharmaceutical Retailers
-4.10%
Participation0%
vs Trend-7.2%
vs Fair Value-11.4%
Members12
#10
Contracting
Medical Devices
-4.51%
Participation6%
vs Trend-8.6%
vs Fair Value-6.6%
Members64
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 486 measured constituents.Leadership tape
Leaders, laggards and contribution shape
Latest completed week, ranked on uncapped constituent returns.
Constituent ledger
Sector constituents
Top 100 of 486 shown, ranked by latest weekly return.
Rank
Ticker
Company
Exchange
Market cap
Close
Index contribution
Return
78
600332
Guangzhou Baiyunshan Pharmaceutical Holdings Company Limited
SHH
32.91B
19.73
0.00 pts
-1.05%
99
900904
Shanghai Shenqi Pharmaceutical Investment Management Co., Ltd.
SHH
237.66M
0.437
0.00 pts
-1.58%
The index uses capped equal-weight weekly constituent returns. The ledger shows uncapped security returns so outliers remain visible for research.