Trend, participation and relative evidence are sufficiently aligned for selective exposure.
74
technical evidence
out of 100
out of 100
Week Ending: 28 August 2026
Japan JP Sector
Basic Materials
For the week ending 28 August 2026, Basic Materials advanced 1.13% with 166 advancing, 87 declining, and 7 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.
74
technical evidence
Index2429.24
1 week1.13%
Breadth64%
Members260
Country
🇯🇵 Japan · JP
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
6.3%
Index versus Trend Line
Persistence
100%
Positive across every horizon
Participation
64%
166 advancing, 87 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
Position
Five-pillar map
Trend
80
Breadth
61
Persistence
81
Relative
62
Risk quality
95
What supports the view
- The index remains above a constructive Trend gate.
- Participation is broad enough to support the index move.
- Constituent trends show positive multi-horizon persistence.
- Medium-term relative returns and peer standing remain constructive.
What restrains conviction
- The current 13-week parent-relative trend is weakening.
- The index is extended well above current Fair Value, increasing chase risk.
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 positively ordered above a rising Trend Line with price accepted above it.
State age4 weeks
Trend gateUp
Fan width4.22%
Fast versus slow change2.38 pts
Above 83%
Below 0%
Six completed weeks of price acceptance relative to the full Activity Line fan.
Index persistence
100% agreement
Positive across every horizon
The 13, 26, 39 and 52-week trends all point upward, giving the advance broad horizon agreement.
13-week
5.2%
26-week
0.3%
39-week
24.4%
52-week
32.4%
Constituent trend persistence
100% coverage
Is the index move broadly durable?
87%positive
Coherent positive36%
Coherent negative2%
Average horizon agreement77%
Positive horizon share72%
Weakening positives65
Repairing negatives17
260 constituents measured as of 28 Aug 2026. Median trend age is 52 weeks.
Custom stage map
100% coverage
Where constituents sit in the cycle
42%Stage 2
Stage 1 · Basing10%26 securities
Stage 2 · Advancing42%108 securities
Stage 3 · Distribution27%71 securities
Stage 4 · Declining21%55 securities
Re-acceleration watch7
Transition watch37
Relative strength leaders21%
Fair Value repairs6
Measured as of 28 Aug 2026. Stages summarize price, Activity Line architecture, Fair Value position and relative evidence.
Architecture breadth
70/100 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 JP Market Structure
Relative index
13-week relative trend
Starting level
A rising relative line means this group is compounding faster than JP Market Structure. A falling line means capital has done better in the parent benchmark.
Relative index119.8
13-week trend120.1
4-week trend change0.61%
Weekly peer rank6 of 11
1 week
-0.3 pts
relative
4 weeks
1.6 pts
relative
13 weeks
-1.0 pts
relative
26 weeks
0.2 pts
relative
52 weeks
19.2 pts
relative
Market internals
Participation, dispersion and path risk
Equal-weight index evidence with constituent-level breadth and dispersion.
Breadth
Broad
Participation quality
64%
advanced
- Advancing
- 166
- Declining
- 87
- Unchanged
- 7
Risk and persistence
52-week lens
Path quality
Annualised weekly volatility14.6%
Drawdown from 52-week high-0.1%
Positive weeks, last 1346%
Current directional run1 week
Turnover versus 13-week norm159%
Breadth impulse11.9 pts
Cross-section
260 measured
Return distribution
Q1 -0.6%
Median 0.6%
Q3 2.3%
Average winner2.8%
Average loser-1.8%
Dispersion4.2 pts
Top-five upside share22%
Top-five capital share38%
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.
6/9
positive
Above Trend Line8/989% of industries
Constructive breadth6/9At least half advancing
Median industry1.08%1.55 pts dispersion
#1
Advancing
Other Industrial Metals & Mining
4.05%
Participation82%
vs Trend11.4%
vs Fair Value74.6%
Members11
#2
Advancing
Aluminum
2.05%
Participation100%
vs Trend4.6%
vs Fair Value49.5%
Members4
#3
Advancing
Building Materials
1.59%
Participation70%
vs Trend4.0%
vs Fair Value24.2%
Members20
#4
Advancing
Steel
1.26%
Participation78%
vs Trend8.0%
vs Fair Value32.0%
Members41
#5
Advancing
Specialty Chemicals
1.08%
Participation61%
vs Trend6.1%
vs Fair Value42.0%
Members113
#6
Advancing
Chemicals
0.71%
Participation54%
vs Trend5.3%
vs Fair Value44.9%
Members35
#7
Weakening
Paper & Paper Products
-0.12%
Participation47%
vs Trend4.2%
vs Fair Value19.8%
Members19
#8
Narrowing
Agricultural Inputs
-0.66%
Participation43%
vs Trend7.1%
vs Fair Value26.1%
Members7
#9
Contracting
Lumber & Wood Production
-1.62%
Participation40%
vs Trend-2.0%
vs Fair Value-17.3%
Members5
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 260 measured constituents.Leadership tape
Leaders, laggards and contribution shape
Latest completed week, ranked on uncapped constituent returns.
Constituent ledger
Sector constituents
Top 100 of 260 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.