Week Ending: 28 August 2026

Germany DE Technology Industry

Software - Application

For the week ending 28 August 2026, Software - Application advanced 2.73% with 17 advancing, 8 declining, and 0 unchanged constituents. The index is equal weighted and the constituent tape shows uncapped security returns.

Current architecture Upward Expansion

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

57 technical evidence
Index1507.19 1 week2.73% Breadth68% Members25
Country 🇩🇪 Germany · DE
Sector Technology
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 1 completed week in this state
Trend acceptance 9.4% Index versus Trend Line
Persistence 50% Negative regime, shorter trend repairing
Participation 68% 17 advancing, 8 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.

57 technical evidence
out of 100
Evidence balance

Five-pillar map

Wait
Trend
63
Breadth
60
Persistence
42
Relative
44
Risk quality
82
What supports the view
  • The index remains above a constructive Trend gate.
  • Participation is broad enough to support the index move.
What restrains conviction
  • 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 17 percentage points.
Independent sentiment overlay News tone is balanced

Sentiment is not supplying a meaningful directional edge.

Evidence that would change the view
  1. A completed weekly reclaim of 1,563.18, 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 Upward Expansion

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

State age1 weeks
Trend gateUp
Fan width5.40%
Fast versus slow change4.12 pts
Above 83% Below 0%
Six completed weeks of price acceptance relative to the full Activity Line fan.
Index persistence

Negative regime, shorter trend repairing

50% agreement

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

13-week
5.8%
26-week
7.6%
39-week
-9.9%
52-week
-11.6%
Regime age32 weeks 52-week flips5 52-week boundary1705.28
Constituent trend persistence

Is the index move broadly durable?

92% coverage
Coherent positive13%
Coherent negative22%
Average horizon agreement74%
Positive horizon share50%
Weakening positives0
Repairing negatives8

23 constituents measured as of 28 Aug 2026. Median trend age is 40 weeks.

Custom stage map

Where constituents sit in the cycle

92% coverage
Stage 1 · Basing48%11 securities
Stage 2 · Advancing13%3 securities
Stage 3 · Distribution9%2 securities
Stage 4 · Declining30%7 securities
Re-acceleration watch0 Transition watch7 Relative strength leaders39% Fair Value repairs5

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

76/100 mean confidence
Upward expansion
30% 7
Rotation up
26% 6
Deceleration
4% 1
Balance
13% 3
Rotation down
9% 2
Downward expansion
17% 4
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 Technology

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

A rising relative line means this group is compounding faster than Technology. A falling line means capital has done better in the parent benchmark.

Relative index76.9
13-week trend71.3
4-week trend change2.12%
Weekly peer rank3 of 11
1 week
1.6 pts relative
4 weeks
3.7 pts relative
13 weeks
10.9 pts relative
26 weeks
-7.8 pts relative
52 weeks
-33.8 pts relative

Market internals

Participation, dispersion and path risk

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

Breadth

Participation quality

Broad
Advancing
17
Declining
8
Unchanged
0
4-week average 63%
13-week average 52%
Risk and persistence

Path quality

52-week lens
Annualised weekly volatility18.3%
Drawdown from 52-week high-11.9%
Positive weeks, last 1362%
Current directional run7 weeks
Turnover versus 13-week norm167%
Breadth impulse17.7 pts
Cross-section

Return distribution

25 measured
Q1 -0.4% Median 1.7% Q3 6.8%
Average winner6.0%
Average loser-4.1%
Dispersion7.8 pts
Top-five upside share62%
Top-five capital share76%
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.

News and narrative

Does company news confirm the market tape?

Open Sentiment Intelligence
Qualified weighted tone
50out of 100

Mixed

Positive and negative company-news scores are balancing each other.

Evidence quality

Coverage before conviction

42/100 confidence
Qualified companies312% of measured constituents
Articles262100% direct company evidence
Publishers29Independent sources represented
Latest evidence5 SepFreshness is weighted in the score
Constructive 0%Balanced 100%Cautious 0%
Price confirms news0
Price disagrees1
Negative news absorbed0
Positive but stretched0

Only fresh, quality-controlled company evidence is included. Industry and sector context is down-weighted and cannot create a directional group conclusion on its own.

Leadership tape

Leaders, laggards and contribution shape

Latest completed week, ranked on uncapped constituent returns.

Leading edge

1 FOOSalesforce, Inc.
25.36% 2 VRLNet-Digital AG
11.31% 3 CDSCADENCE DESIGN SYSTEMS INC. R
9.70% 4 FAAFabasoft AG
9.18% 5 NEMNemetschek SE
7.60%

Weakest edge

25 VRVVerve Group SE N
-22.14% 24 ITUIntuit Inc.
-3.67% 23 TPG0The Platform Group SE & Co. KGaA
-3.45% 22 PO1POB AG
-1.49% 21 MUMMensch und Maschine Software SE
-0.81%

Constituent ledger

Industry constituents

All 25 measured constituents, ranked by latest weekly return.

Rank Ticker Company Exchange Market cap Close Index contribution Return
1 FOO Salesforce, Inc. GER 142.85B 225.40 1.00 pts
25.36%
2 VRL Net-Digital AG GER 40.85M 18.70 0.45 pts
11.31%
3 CDS CADENCE DESIGN SYSTEMS INC. R GER 79.08B 295.80 0.39 pts
9.70%
4 FAA Fabasoft AG GER 176.92M 17.25 0.37 pts
9.18%
5 NEM Nemetschek SE GER 7.50B 70.75 0.30 pts
7.60%
6 ABX Advanced Blockchain AG GER 4.75M 1.19 0.29 pts
7.23%
7 ADB Adobe Inc. GER 93.31B 252.05 0.27 pts
6.76%
8 TMV TeamViewer SE GER 1.03B 7.18 0.24 pts
5.98%
9 IVU IVU Traffic Technologies AG GER 424.47M 25.40 0.20 pts
4.96%
10 AOF ATOSS Software SE GER 1.54B 101.80 0.16 pts
3.88%
11 AUD AUTODESK INC. R GER 45.57B 224.15 0.10 pts
2.56%
12 ADP Automatic Data Processing, Inc. GER 95.56B 247.10 0.10 pts
2.47%
13 SAP SAP SE GER 207.78B 191.32 0.07 pts
1.70%
14 DTD2 B+S Banksysteme Aktiengesellschaft GER 11.74M 1.92 0.04 pts
1.05%
15 PSAN PSI Software SE GER 726.28M 45.00 0.04 pts
0.90%
16 MA10 Binect AG GER 5.63M 1.75 0.02 pts
0.57%
17 ISHA INTERSHOP Communications Aktiengesellschaft GER 30.05M 1.54 0.01 pts
0.32%
18 SJJ Serviceware SE GER 155.93M 14.65 -0.01 pts
-0.34%
19 UT8 Uber Technologies, Inc. GER 139.71B 67.80 -0.01 pts
-0.35%
20 CSH CENIT Aktiengesellschaft GER 59.72M 7.06 -0.02 pts
-0.56%
21 MUM Mensch und Maschine Software SE GER 604.81M 36.90 -0.03 pts
-0.81%
22 PO1 POB AG GER 2.21M 1.32 -0.06 pts
-1.49%
23 TPG0 The Platform Group SE & Co. KGaA GER 18.53M 0.98 -0.14 pts
-3.45%
24 ITU Intuit Inc. GER 80.38B 304.60 -0.15 pts
-3.67%
25 VRV Verve Group SE N GER 272.16M 1.06 -0.89 pts
-22.14%

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

Evidence context