Week Ending: 18 September 2026

Singapore SG Technology Industry

Software - Infrastructure

For the week ending 18 September 2026, Software - Infrastructure advanced 3.08% with 2 advancing, 1 declining, and 0 unchanged constituents. The index is equal weighted and the constituent tape shows uncapped security returns.

Current architecture Unresolved

The Activity Lines, Trend Line and price acceptance remain genuinely mixed.

42 technical evidence

Index137.04 1 week3.08% Breadth67% Members3

Country 🇸🇬 Singapore · SG

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 Unresolved 2 completed weeks in this state

Trend acceptance -0.7% Index versus Trend Line

Persistence 50% Negative regime, shorter trend repairing

Participation 67% 2 advancing, 1 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 Reduce exposure into strength

Counter-trend rallies may occur, but primary structure and persistence do not yet support adding risk.

42 technical evidence
out of 100

Evidence balance

Five-pillar map

Reduce

Trend

Breadth

Persistence

Relative

Risk quality

What supports the view

Relative performance is improving within its parent hierarchy.

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.
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

A completed weekly reclaim of 183.32, the higher of Trend Line and Fair Value, would improve the structural case.
Breadth holding above 55% for several completed weeks would show that repair is spreading.
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 Unresolved

The Activity Lines, Trend Line and price acceptance remain genuinely mixed.

State age2 weeks

Trend gateMixed

Fan width1.92%

Fast versus slow change-2.34 pts

Above 17% Below 50%

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

5.0%

26-week

0.1%

39-week

-13.7%

52-week

-22.2%

Regime age10 weeks 52-week flips2 52-week boundary176.05

Constituent trend persistence

Is the index move broadly durable?

100% coverage

0%positive

Coherent positive0%

Coherent negative33%

Average horizon agreement75%

Positive horizon share17%

Weakening positives0

Repairing negatives1

3 constituents measured as of 18 Sep 2026. Median trend age is 6 weeks.

Custom stage map

Where constituents sit in the cycle

Stage Analysis coverage is still building.

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 index35.2

13-week trend33.7

4-week trend change3.35%

Weekly peer rank1 of 9

1 week

5.5 pts relative

4 weeks

1.9 pts relative

13 weeks

16.6 pts relative

26 weeks

-2.5 pts relative

52 weeks

-35.4 pts relative

Market internals

Participation, dispersion and path risk

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

Breadth

Participation quality

Broad

67% advanced

Advancing: 2
Declining: 1
Unchanged: 0

4-week average 33%

13-week average 38%

Risk and persistence

Path quality

52-week lens

Annualised weekly volatility25.5%

Drawdown from 52-week high-20.8%

Positive weeks, last 1354%

Current directional run1 week

Turnover versus 13-week norm246%

Breadth impulse30.6 pts

Cross-section

Return distribution

3 measured

Q1 1.1% Median 6.3% Q3 6.7%

Average winner6.7%

Average loser-4.2%

Dispersion5.1 pts

Top-five upside share100%

Top-five capital share100%

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 3 measured constituents.

Leadership tape

Leaders, laggards and contribution shape

Latest completed week, ranked on uncapped constituent returns.

Leading edge

1 TVVOxPay Financial Limited

7.14% 2 AVPAvePoint, Inc.

6.27% 3 42FTOTM Technologies Limited

-4.17%

Weakest edge

3 42FTOTM Technologies Limited

-4.17% 2 AVPAvePoint, Inc.

6.27% 1 TVVOxPay Financial Limited

7.14%

Constituent ledger

Industry constituents

All 3 measured constituents, ranked by latest weekly return.

Rank Ticker Company Exchange Market cap Close Index contribution Return

1 TVV OxPay Financial Limited SES 10.26M 0.03 2.38 pts

7.14%

2 AVP AvePoint, Inc. SES 3.70B 17.28 2.09 pts

6.27%

3 42F TOTM Technologies Limited SES 41.74M 0.023 -1.39 pts

-4.17%

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