Week Ending: 11 September 2026

Sweden SE Financial Services Industry

Banks - Regional

For the week ending 11 September 2026, Banks - Regional advanced 0.39% with 6 advancing, 3 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.

86 technical evidence
Index4067.44 1 week0.39% Breadth67% Members9
Country 🇸🇪 Sweden · SE
Sector Financial Services
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 10 completed weeks in this state
Trend acceptance 13.1% Index versus Trend Line
Persistence 100% Positive across every horizon
Participation 67% 6 advancing, 3 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 Positioning window open

Trend, participation and relative evidence are sufficiently aligned for selective exposure.

86 technical evidence
out of 100
Evidence balance

Five-pillar map

Position
Trend
84
Breadth
66
Persistence
100
Relative
100
Risk quality
98
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.
  • Relative performance is improving within its parent hierarchy.
What restrains conviction
  • The index is extended well above current Fair Value, increasing chase risk.
  • 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 3,596.39 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 age10 weeks
Trend gateUp
Fan width7.51%
Fast versus slow change1.00 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
14.4%
26-week
23.0%
39-week
17.8%
52-week
26.2%
Regime age104 weeks 52-week flips0 52-week boundary3222.45
Constituent trend persistence

Is the index move broadly durable?

89% coverage
Coherent positive62%
Coherent negative0%
Average horizon agreement94%
Positive horizon share94%
Weakening positives0
Repairing negatives0

8 constituents measured as of 11 Sep 2026. Median trend age is 74 weeks.

Custom stage map

Where constituents sit in the cycle

89% coverage
Stage 1 · Basing0%0 securities
Stage 2 · Advancing63%5 securities
Stage 3 · Distribution25%2 securities
Stage 4 · Declining13%1 securities
Re-acceleration watch0 Transition watch1 Relative strength leaders75% Fair Value repairs0

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

81/100 mean confidence
Upward expansion
75% 6
Rotation up
0% 0
Deceleration
0% 0
Balance
12% 1
Rotation down
0% 0
Downward expansion
12% 1
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 Financial Services

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

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

Relative index181.1
13-week trend170.6
4-week trend change2.91%
Weekly peer rank1 of 6
1 week
2.0 pts relative
4 weeks
5.0 pts relative
13 weeks
11.3 pts relative
26 weeks
20.7 pts relative
52 weeks
31.2 pts relative

Market internals

Participation, dispersion and path risk

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

Breadth

Participation quality

Broad
Advancing
6
Declining
3
Unchanged
0
4-week average 67%
13-week average 66%
Risk and persistence

Path quality

52-week lens
Annualised weekly volatility13.7%
Drawdown from 52-week high0.0%
Positive weeks, last 1377%
Current directional run3 weeks
Turnover versus 13-week norm158%
Breadth impulse0.9 pts
Cross-section

Return distribution

9 measured
Q1 -0.9% Median 0.6% Q3 1.5%
Average winner1.2%
Average loser-1.2%
Dispersion1.3 pts
Top-five upside share95%
Top-five capital share98%
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
Sentiment evidence is still developing

Qualified company-level news coverage is not yet broad enough to influence the group view.

0 qualified records across 9 measured constituents.

Leadership tape

Leaders, laggards and contribution shape

Latest completed week, ranked on uncapped constituent returns.

Leading edge

1 LEALea Bank AB (publ)
2.24% 2 SEB-CSkandinaviska Enskilda Banken AB (publ)
1.75% 3 MORROWMorrow Bank AB
1.53% 4 SEB-ASkandinaviska Enskilda Banken AB (publ)
0.66% 5 NDA-SENordea Bank Abp
0.58%

Weakest edge

9 NORIONNorion Bank AB (publ)
-1.55% 8 AZAAvanza Bank Holding AB (publ)
-1.16% 7 ARION-SDBArion banki hf.
-0.94% 6 SWED-ASwedbank AB (publ)
0.36% 5 NDA-SENordea Bank Abp
0.58%

Constituent ledger

Industry constituents

All 9 measured constituents, ranked by latest weekly return.

Rank Ticker Company Exchange Market cap Close Index contribution Return
1 LEA Lea Bank AB (publ) STO 1.32B 13.72 0.25 pts
2.24%
2 SEB-C Skandinaviska Enskilda Banken AB (publ) STO 447.37B 232.00 0.19 pts
1.75%
3 MORROW Morrow Bank AB STO 4.91B 15.88 0.17 pts
1.53%
4 SEB-A Skandinaviska Enskilda Banken AB (publ) STO 443.09B 228.00 0.07 pts
0.66%
5 NDA-SE Nordea Bank Abp STO 673.83B 200.30 0.06 pts
0.58%
6 SWED-A Swedbank AB (publ) STO 440.50B 387.30 0.04 pts
0.36%
7 ARION-SDB Arion banki hf. STO 19.75B 14.74 -0.10 pts
-0.94%
8 AZA Avanza Bank Holding AB (publ) STO 61.62B 392.90 -0.13 pts
-1.16%
9 NORION Norion Bank AB (publ) STO 12.11B 69.80 -0.17 pts
-1.55%

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

Evidence context