Trend, participation and relative evidence are sufficiently aligned for selective exposure.
74
technical evidence
out of 100
out of 100
Week Ending: 11 September 2026
United States US Basic Materials Industry
Copper
For the week ending 11 September 2026, Copper declined 1.65% with 1 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.
74
technical evidence
Index5553.14
1 week-1.65%
Breadth25%
Members4
Country
🇺🇸 United States · US
Sector
Basic Materials
Universe
NASDAQ, NYSE
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
11.7%
Index versus Trend Line
Persistence
100%
Positive across every horizon
Participation
25%
1 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.
Evidence balance
Position
Five-pillar map
Trend
87
Breadth
35
Persistence
100
Relative
88
Risk quality
63
What supports the view
- The index remains above a constructive Trend gate.
- Constituent trends show positive multi-horizon persistence.
- Relative performance is improving within its parent hierarchy.
What restrains conviction
- Breadth remains too narrow or inconsistent for a high-conviction position.
- The index is extended well above current Fair Value, increasing chase risk.
- Positive contribution is concentrated in a small leadership cohort.
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 width11.36%
Fast versus slow change5.66 pts
Above 67%
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
5.4%
26-week
27.1%
39-week
45.3%
52-week
93.1%
Constituent trend persistence
100% coverage
Is the index move broadly durable?
100%positive
Coherent positive75%
Coherent negative0%
Average horizon agreement94%
Positive horizon share94%
Weakening positives1
Repairing negatives0
4 constituents measured as of 11 Sep 2026. Median trend age is 52 weeks.
Custom stage map
100% coverage
Where constituents sit in the cycle
100%Stage 2
Stage 1 · Basing0%0 securities
Stage 2 · Advancing100%4 securities
Stage 3 · Distribution0%0 securities
Stage 4 · Declining0%0 securities
Re-acceleration watch0
Transition watch0
Relative strength leaders25%
Fair Value repairs0
Measured as of 11 Sep 2026. Stages summarize price, Activity Line architecture, Fair Value position and relative evidence.
Architecture breadth
83/100 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 Basic Materials
Relative index
13-week relative trend
Starting level
A rising relative line means this group is compounding faster than Basic Materials. A falling line means capital has done better in the parent benchmark.
Relative index219.4
13-week trend203.9
4-week trend change5.69%
Weekly peer rank4 of 13
1 week
1.8 pts
relative
4 weeks
6.4 pts
relative
13 weeks
10.4 pts
relative
26 weeks
27.2 pts
relative
52 weeks
78.3 pts
relative
Market internals
Participation, dispersion and path risk
Equal-weight index evidence with constituent-level breadth and dispersion.
Breadth
Narrow
Participation quality
25%
advanced
- Advancing
- 1
- Declining
- 3
- Unchanged
- 0
Risk and persistence
52-week lens
Path quality
Annualised weekly volatility50.3%
Drawdown from 52-week high-9.8%
Positive weeks, last 1338%
Current directional run3 weeks
Turnover versus 13-week norm81%
Breadth impulse-20.8 pts
Cross-section
4 measured
Return distribution
Q1 -2.8%
Median -2.5%
Q3 -1.3%
Average winner1.6%
Average loser-2.7%
Dispersion1.9 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?
55out of 100
Mixed
Positive and negative company-news scores are balancing each other.
Evidence quality
44/100 confidence
Coverage before conviction
Qualified companies375% of measured constituents
Articles233100% direct company evidence
Publishers56Independent sources represented
Latest evidence18 SepFreshness is weighted in the score
Constructive 0%Balanced 100%Cautious 0%
Price confirms news0
Price disagrees0
Negative news absorbed0
Positive but stretched0
Constructive edge
Strongest qualified tone
FCX55/100 confidence · 131 direct
57
Freeport-McMoRan (FCX) Surpasses Market Returns: Some Facts Worth Knowing
ERO36/100 confidence · 30 direct 54Copper Hit a Record High as Chile Posts Its Weakest Output in 19 Years
SCCO43/100 confidence · 72 direct 53Copper Hit a Record High as Chile Posts Its Weakest Output in 19 Years
Narrative risk
Weakest qualified tone
SCCO43/100 confidence · 72 direct
53
Copper Hit a Record High as Chile Posts Its Weakest Output in 19 Years
ERO36/100 confidence · 30 direct 54Copper Hit a Record High as Chile Posts Its Weakest Output in 19 Years
FCX55/100 confidence · 131 direct 57Freeport-McMoRan (FCX) Surpasses Market Returns: Some Facts Worth Knowing
Only fresh, quality-controlled company evidence is included. Industry and sector context is down-weighted and cannot create a directional group conclusion on its own.
Leadership tape
Leaders, laggards and contribution shape
Latest completed week, ranked on uncapped constituent returns.
Constituent ledger
Industry constituents
All 4 measured constituents, 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.