The weight of trend, participation and relative evidence favours capital protection over new exposure.
33
technical evidence
out of 100
out of 100
Week Ending: 4 September 2026
Sweden SE Sector
Healthcare
For the week ending 04 September 2026, Healthcare declined 0.94% with 61 advancing, 86 declining, and 7 unchanged constituents. The index is equal weighted and built from country-listed equities.
Current architecture
Downward Expansion
The activity fan is bearishly ordered below the Trend Line with price accepted beneath it.
33
technical evidence
Index428.18
1 week-0.94%
Breadth40%
Members155
Country
🇸🇪 Sweden · SE
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
Downward Expansion
1 completed week in this state
Trend acceptance
-3.1%
Index versus Trend Line
Persistence
100%
Negative across every horizon
Participation
40%
61 advancing, 86 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
30
Breadth
28
Persistence
29
Relative
25
Risk quality
77
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 37 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 fan is bearishly ordered below the Trend Line with price accepted beneath it.
State age1 weeks
Trend gateDown
Fan width1.75%
Fast versus slow change0.15 pts
Above 0%
Below 50%
Six completed weeks of price acceptance relative to the full Activity Line fan.
Index persistence
100% agreement
Negative across every horizon
The 13, 26, 39 and 52-week trends all point downward, confirming persistent contraction.
13-week
-5.0%
26-week
-2.6%
39-week
-10.6%
52-week
-23.3%
Constituent trend persistence
99% coverage
Is the index move broadly durable?
22%positive
Coherent positive10%
Coherent negative33%
Average horizon agreement73%
Positive horizon share38%
Weakening positives14
Repairing negatives38
153 constituents measured as of 4 Sep 2026. Median trend age is 23 weeks.
Custom stage map
97% coverage
Where constituents sit in the cycle
52%Stage 4
Stage 1 · Basing28%42 securities
Stage 2 · Advancing15%22 securities
Stage 3 · Distribution5%8 securities
Stage 4 · Declining52%77 securities
Re-acceleration watch2
Transition watch14
Relative strength leaders13%
Fair Value repairs31
Measured as of 4 Sep 2026. Stages summarize price, Activity Line architecture, Fair Value position and relative evidence.
Architecture breadth
77/100 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 SE Market Structure
Relative index
13-week relative trend
Starting level
A rising relative line means this group is compounding faster than SE Market Structure. A falling line means capital has done better in the parent benchmark.
Relative index75.0
13-week trend76.4
4-week trend change-0.87%
Weekly peer rank8 of 11
1 week
-0.3 pts
relative
4 weeks
-0.9 pts
relative
13 weeks
-2.9 pts
relative
26 weeks
-5.1 pts
relative
52 weeks
-14.4 pts
relative
Market internals
Participation, dispersion and path risk
Equal-weight index evidence with constituent-level breadth and dispersion.
Breadth
Narrow
Participation quality
40%
advanced
- Advancing
- 61
- Declining
- 86
- Unchanged
- 7
Risk and persistence
52-week lens
Path quality
Annualised weekly volatility10.7%
Drawdown from 52-week high-22.5%
Positive weeks, last 1323%
Current directional run4 weeks
Turnover versus 13-week norm479%
Breadth impulse-4.0 pts
Cross-section
154 measured
Return distribution
Q1 -3.9%
Median -1.0%
Q3 2.0%
Average winner5.8%
Average loser-6.3%
Dispersion9.3 pts
Top-five upside share34%
Top-five capital share88%
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.
1/7
positive
Above Trend Line3/743% of industries
Constructive breadth0/7At least half advancing
Median industry-1.11%2.09 pts dispersion
#1
Narrowing
Medical Instruments & Supplies
4.02%
Participation42%
vs Trend1.1%
vs Fair Value1.2%
Members12
#2
Contracting
Drug Manufacturers - Specialty & Generic
-0.30%
Participation47%
vs Trend-1.3%
vs Fair Value-16.6%
Members19
#3
Narrowing
Medical Care Facilities
-0.88%
Participation25%
vs Trend19.0%
vs Fair Value68.2%
Members4
#4
Contracting
Medical Devices
-1.11%
Participation41%
vs Trend-6.3%
vs Fair Value-32.2%
Members46
#5
Contracting
Biotechnology
-1.81%
Participation39%
vs Trend-5.2%
vs Fair Value-24.0%
Members56
#6
Narrowing
Health Information Services
-2.05%
Participation29%
vs Trend2.4%
vs Fair Value-25.4%
Members7
#7
Contracting
Diagnostics & Research
-2.92%
Participation17%
vs Trend-4.3%
vs Fair Value-45.6%
Members6
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 154 measured constituents.Leadership tape
Leaders, laggards and contribution shape
Latest completed week, ranked on uncapped constituent returns.
Constituent ledger
Sector constituents
Top 100 of 154 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.