Counter-trend rallies may occur, but primary structure and persistence do not yet support adding risk.
41
technical evidence
out of 100
out of 100
Week Ending: 4 September 2026
Saudi Arabia SA Sector
Basic Materials
For the week ending 04 September 2026, Basic Materials declined 2.34% with 14 advancing, 42 declining, and 2 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.
41
technical evidence
Index1316.97
1 week-2.34%
Breadth24%
Members58
Country
🇸🇦 Saudi Arabia · SA
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
-0.7%
Index versus Trend Line
Persistence
75%
Negative regime, horizons divided
Participation
24%
14 advancing, 42 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
Reduce
Five-pillar map
Trend
45
Breadth
29
Persistence
35
Relative
32
Risk quality
87
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 27 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.
Directional pressure is compressed and neither side has durable control.
State age3 weeks
Trend gateMixed
Fan width0.84%
Fast versus slow change1.26 pts
Above 17%
Below 33%
Six completed weeks of price acceptance relative to the full Activity Line fan.
Index persistence
75% agreement
Negative regime, horizons divided
The 52-week trend is negative, while shorter horizons remain mixed.
13-week
-2.6%
26-week
4.1%
39-week
-1.5%
52-week
-8.1%
Constituent trend persistence
98% coverage
Is the index move broadly durable?
37%positive
Coherent positive16%
Coherent negative39%
Average horizon agreement87%
Positive horizon share41%
Weakening positives6
Repairing negatives6
57 constituents measured as of 4 Sep 2026. Median trend age is 42 weeks.
Custom stage map
97% coverage
Where constituents sit in the cycle
48%Stage 4
Stage 1 · Basing25%14 securities
Stage 2 · Advancing21%12 securities
Stage 3 · Distribution5%3 securities
Stage 4 · Declining48%27 securities
Re-acceleration watch0
Transition watch2
Relative strength leaders21%
Fair Value repairs9
Measured as of 4 Sep 2026. Stages summarize price, Activity Line architecture, Fair Value position and relative evidence.
Architecture breadth
78/100 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 SA Market Structure
Relative index
13-week relative trend
Starting level
A rising relative line means this group is compounding faster than SA Market Structure. A falling line means capital has done better in the parent benchmark.
Relative index101.4
13-week trend101.8
4-week trend change-0.22%
Weekly peer rank10 of 11
1 week
-1.2 pts
relative
4 weeks
0.4 pts
relative
13 weeks
-1.1 pts
relative
26 weeks
1.4 pts
relative
52 weeks
3.0 pts
relative
Market internals
Participation, dispersion and path risk
Equal-weight index evidence with constituent-level breadth and dispersion.
Breadth
Narrow
Participation quality
24%
advanced
- Advancing
- 14
- Declining
- 42
- Unchanged
- 2
Risk and persistence
52-week lens
Path quality
Annualised weekly volatility12.0%
Drawdown from 52-week high-12.1%
Positive weeks, last 1354%
Current directional run1 week
Turnover versus 13-week norm114%
Breadth impulse-21.1 pts
Cross-section
58 measured
Return distribution
Q1 -4.0%
Median -1.6%
Q3 0.0%
Average winner4.2%
Average loser-4.7%
Dispersion6.5 pts
Top-five upside share63%
Top-five capital share83%
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.
1/5
positive
Above Trend Line2/540% of industries
Constructive breadth1/5At least half advancing
Median industry-1.88%3.24 pts dispersion
#1
Transition
Steel
0.52%
Participation64%
vs Trend3.1%
vs Fair Value-7.7%
Members11
#2
Contracting
Building Materials
-1.51%
Participation23%
vs Trend-3.4%
vs Fair Value-16.8%
Members22
#3
Contracting
Chemicals
-1.88%
Participation13%
vs Trend0.0%
vs Fair Value-13.6%
Members8
#4
Contracting
Specialty Chemicals
-6.69%
Participation13%
vs Trend-4.9%
vs Fair Value-15.3%
Members8
#5
Narrowing
Agricultural Inputs
-7.92%
Participation0%
vs Trend4.5%
vs Fair Value5.2%
Members3
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 58 measured constituents.Leadership tape
Leaders, laggards and contribution shape
Latest completed week, ranked on uncapped constituent returns.
Constituent ledger
Sector constituents
All 58 measured constituents, ranked by latest weekly return.
Rank
Ticker
Company
Exchange
Market cap
Close
Index contribution
Return
49
9569
AlMuneef Company for Trade, Industry, Agriculture and Contracting
SAU
220.02M
3.86
-0.08 pts
-4.69%
The index uses capped equal-weight weekly constituent returns. The ledger shows uncapped security returns so outliers remain visible for research.