The evidence is constructive, but security selection and entry discipline still matter.
65
technical evidence
out of 100
out of 100
Week Ending: 28 August 2026
United States US Energy Industry
Oil & Gas Equipment & Services
For the week ending 28 August 2026, Oil & Gas Equipment & Services declined 0.93% with 19 advancing, 30 declining, and 0 unchanged constituents. The index is equal weighted and the constituent tape shows uncapped security returns.
Current architecture
Rotation Up
Fast Activity Lines are gaining on the slow pair while price acceptance improves.
65
technical evidence
Index2550.04
1 week-0.93%
Breadth39%
Members49
Country
🇺🇸 United States · US
Sector
Energy
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
Rotation Up
2 completed weeks in this state
Trend acceptance
1.2%
Index versus Trend Line
Persistence
75%
Positive regime, shorter trend weakening
Participation
39%
19 advancing, 30 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
Selective
Five-pillar map
Trend
70
Breadth
45
Persistence
79
Relative
59
Risk quality
81
What supports the view
- The index remains above a constructive Trend gate.
- Constituent trends show positive multi-horizon persistence.
- Medium-term relative returns and peer standing remain constructive.
What restrains conviction
- Breadth remains too narrow or inconsistent for a high-conviction position.
- The current 13-week parent-relative trend is weakening.
- The index is extended well above current Fair Value, increasing chase risk.
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.
Fast Activity Lines are gaining on the slow pair while price acceptance improves.
State age2 weeks
Trend gateUp
Fan width1.03%
Fast versus slow change1.87 pts
Above 33%
Below 17%
Six completed weeks of price acceptance relative to the full Activity Line fan.
Index persistence
75% agreement
Positive regime, shorter trend weakening
The long trend remains positive, but the 13-week horizon has turned against it.
13-week
-0.6%
26-week
7.2%
39-week
41.8%
52-week
54.6%
Constituent trend persistence
94% coverage
Is the index move broadly durable?
87%positive
Coherent positive33%
Coherent negative4%
Average horizon agreement77%
Positive horizon share70%
Weakening positives20
Repairing negatives0
46 constituents measured as of 28 Aug 2026. Median trend age is 33 weeks.
Custom stage map
90% coverage
Where constituents sit in the cycle
46%Stage 2
Stage 1 · Basing2%1 securities
Stage 2 · Advancing46%20 securities
Stage 3 · Distribution27%12 securities
Stage 4 · Declining25%11 securities
Re-acceleration watch1
Transition watch6
Relative strength leaders25%
Fair Value repairs0
Measured as of 28 Aug 2026. Stages summarize price, Activity Line architecture, Fair Value position and relative evidence.
Architecture breadth
73/100 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 Energy
Relative index
13-week relative trend
Starting level
A rising relative line means this group is compounding faster than Energy. A falling line means capital has done better in the parent benchmark.
Relative index107.0
13-week trend111.7
4-week trend change-0.94%
Weekly peer rank4 of 8
1 week
0.2 pts
relative
4 weeks
-0.3 pts
relative
13 weeks
-5.2 pts
relative
26 weeks
-1.2 pts
relative
52 weeks
14.8 pts
relative
Market internals
Participation, dispersion and path risk
Equal-weight index evidence with constituent-level breadth and dispersion.
Breadth
Narrow
Participation quality
39%
advanced
- Advancing
- 19
- Declining
- 30
- Unchanged
- 0
Risk and persistence
52-week lens
Path quality
Annualised weekly volatility26.9%
Drawdown from 52-week high-7.2%
Positive weeks, last 1354%
Current directional run2 weeks
Turnover versus 13-week norm84%
Breadth impulse-12.8 pts
Cross-section
49 measured
Return distribution
Q1 -3.3%
Median -1.8%
Q3 2.5%
Average winner3.1%
Average loser-3.5%
Dispersion3.7 pts
Top-five upside share45%
Top-five capital share73%
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?
56out of 100
More positive than negative
Positive company scores outnumber negative ones, but the overall score remains close to 50.
Evidence quality
42/100 confidence
Coverage before conviction
Qualified companies612% of measured constituents
Articles370100% direct company evidence
Publishers102Independent sources represented
Latest evidence31 AugFreshness is weighted in the score
Constructive 50%Balanced 50%Cautious 0%
Price confirms news1
Price disagrees3
Negative news absorbed0
Positive but stretched2
Constructive edge
Strongest qualified tone
HAL53/100 confidence · 85 direct
62
Halliburton (HAL) Price Forecast: Beats Q2 2026 — Iraq Win and $36 Rally
KGS39/100 confidence · 63 direct 59Man Group plc Acquires New Holdings in Kodiak Gas Services, Inc. $KGS
FTI42/100 confidence · 65 direct 58L2 Asset Management LLC Invests $896,000 in TechnipFMC plc $FTI
SLB42/100 confidence · 59 direct 56SLB (SLB) Stock Trades At A Discount To Fair Value
AROC35/100 confidence · 48 direct 49Archrock (AROC) Stock Looks Rich On Cash Flow But Fair On Earnings
Narrative risk
Weakest qualified tone
FTK37/100 confidence · 50 direct
47
Flotek (FTK) Financial Update: EPS Lands Above Forecast; Trading Move: The Share Price Adds…
AROC35/100 confidence · 48 direct 49Archrock (AROC) Stock Looks Rich On Cash Flow But Fair On Earnings
SLB42/100 confidence · 59 direct 56SLB (SLB) Stock Trades At A Discount To Fair Value
FTI42/100 confidence · 65 direct 58L2 Asset Management LLC Invests $896,000 in TechnipFMC plc $FTI
KGS39/100 confidence · 63 direct 59Man Group plc Acquires New Holdings in Kodiak Gas Services, Inc. $KGS
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 49 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.