The evidence is balanced enough to avoid a defensive call, but not aligned enough for aggressive positioning.
57
technical evidence
out of 100
out of 100
Week Ending: 28 August 2026
United States US Sector
Healthcare
For the week ending 28 August 2026, Healthcare declined 1.35% with 323 advancing, 606 declining, and 15 unchanged constituents. The index is equal weighted and built from NASDAQ, NYSE equities.
Current architecture
Upward Expansion
The activity fan is positively ordered above a rising Trend Line with price accepted above it.
57
technical evidence
Index556.48
1 week-1.35%
Breadth34%
Members945
Country
🇺🇸 United States · US
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
2 completed weeks in this state
Trend acceptance
5.4%
Index versus Trend Line
Persistence
75%
Positive regime, horizons divided
Participation
34%
323 advancing, 606 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
Wait
Five-pillar map
Trend
70
Breadth
37
Persistence
57
Relative
47
Risk quality
87
What supports the view
- The index remains above a constructive Trend gate.
- Constituent trends show positive multi-horizon persistence.
What restrains conviction
- Breadth remains too narrow or inconsistent for a high-conviction position.
- The group is not yet delivering dependable relative outperformance.
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 age2 weeks
Trend gateUp
Fan width3.65%
Fast versus slow change1.75 pts
Above 67%
Below 33%
Six completed weeks of price acceptance relative to the full Activity Line fan.
Index persistence
75% agreement
Positive regime, horizons divided
The 52-week trend is positive, although not every measured horizon confirms it.
13-week
3.8%
26-week
3.7%
39-week
-0.6%
52-week
10.3%
Constituent trend persistence
94% coverage
Is the index move broadly durable?
55%positive
Coherent positive32%
Coherent negative23%
Average horizon agreement82%
Positive horizon share56%
Weakening positives95
Repairing negatives143
888 constituents measured as of 21 Aug 2026. Median trend age is 26 weeks.
Custom stage map
92% coverage
Where constituents sit in the cycle
40%Stage 4
Stage 1 · Basing21%179 securities
Stage 2 · Advancing32%276 securities
Stage 3 · Distribution8%68 securities
Stage 4 · Declining40%349 securities
Re-acceleration watch11
Transition watch94
Relative strength leaders32%
Fair Value repairs133
Measured as of 21 Aug 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 US Market Structure
Relative index
13-week relative trend
Starting level
A rising relative line means this group is compounding faster than US Market Structure. A falling line means capital has done better in the parent benchmark.
Relative index80.5
13-week trend78.1
4-week trend change1.20%
Weekly peer rank9 of 12
1 week
-0.3 pts
relative
4 weeks
4.4 pts
relative
13 weeks
4.9 pts
relative
26 weeks
0.9 pts
relative
52 weeks
7.0 pts
relative
Market internals
Participation, dispersion and path risk
Equal-weight index evidence with constituent-level breadth and dispersion.
Breadth
Narrow
Participation quality
34%
advanced
- Advancing
- 323
- Declining
- 606
- Unchanged
- 15
Risk and persistence
52-week lens
Path quality
Annualised weekly volatility20.7%
Drawdown from 52-week high-1.4%
Positive weeks, last 1354%
Current directional run1 week
Turnover versus 13-week norm82%
Breadth impulse-16.9 pts
Cross-section
944 measured
Return distribution
Q1 -4.8%
Median -1.6%
Q3 1.2%
Average winner5.8%
Average loser-5.1%
Dispersion8.6 pts
Top-five upside share14%
Top-five capital share31%
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.
2/11
positive
Above Trend Line8/1173% of industries
Constructive breadth3/11At least half advancing
Median industry-1.19%0.92 pts dispersion
#1
Advancing
Healthcare Plans
0.26%
Participation64%
vs Trend14.4%
vs Fair Value30.0%
Members11
#2
Transition
Drug Manufacturers - Specialty & Generic
0.00%
Participation49%
vs Trend6.9%
vs Fair Value7.1%
Members73
#3
Narrowing
Diagnostics & Research
-0.16%
Participation32%
vs Trend23.7%
vs Fair Value46.8%
Members44
#4
Narrowing
Medical Instruments & Supplies
-0.41%
Participation38%
vs Trend7.9%
vs Fair Value-1.9%
Members50
#5
Weakening
Pharmaceutical Retailers
-0.77%
Participation75%
vs Trend-8.2%
vs Fair Value-58.6%
Members4
#6
Narrowing
Health Information Services
-1.19%
Participation40%
vs Trend14.6%
vs Fair Value-9.0%
Members40
#7
Weakening
Medical Distribution
-1.28%
Participation70%
vs Trend-20.2%
vs Fair Value-44.0%
Members10
#8
Narrowing
Biotechnology
-1.40%
Participation33%
vs Trend3.9%
vs Fair Value5.3%
Members529
#9
Narrowing
Medical Care Facilities
-2.18%
Participation29%
vs Trend11.6%
vs Fair Value23.9%
Members42
#10
Narrowing
Drug Manufacturers - General
-2.25%
Participation10%
vs Trend2.9%
vs Fair Value12.5%
Members20
#11
Contracting
Medical Devices
-2.57%
Participation27%
vs Trend-0.7%
vs Fair Value-16.3%
Members121
News and narrative
Does company news confirm the market tape?
53out of 100
More positive than negative
Positive company scores outnumber negative ones, but the overall score remains close to 50.
Evidence quality
51/100 confidence
Coverage before conviction
Qualified companies19120% of measured constituents
Articles14313100% direct company evidence
Publishers3773Independent sources represented
Latest evidence30 AugFreshness is weighted in the score
Constructive 41%Balanced 43%Cautious 16%
Price confirms news54
Price disagrees59
Negative news absorbed17
Positive but stretched42
Constructive edge
Strongest qualified tone
VEEV67/100 confidence · 61 direct
70
Veeva (VEEV) Grew Subscription Revenue 16% as GAAP Operating Income Increased 40%. Is the M…
A76/100 confidence · 103 direct 67Agilent (NYSE) Expanded Non-GAAP Margin 320 bps. How Much Is Repeatable?
HOWL42/100 confidence · 45 direct 65Werewolf, Ambros to Merge in All-Stock Deal
OABI36/100 confidence · 48 direct 65Is OmniAb (OABI)’s Eli Lilly (LLY) Partnership a Game Changer for OABI?
ARGX44/100 confidence · 44 direct 64argenx (ENXTBR:ARGX) Stock Looks Rich Despite Its 210% Five Year Run
Narrative risk
Weakest qualified tone
SPRY70/100 confidence · 71 direct
31
SPRY Investors Have Opportunity to Lead ARS Pharmaceuticals, Inc. Securities Fraud Lawsuit …
GUTS52/100 confidence · 32 direct 32Class action filed against Fractyl Health over misleading claims on diabetes therapy effica…
EMBC62/100 confidence · 80 direct 32Embecta: Excellent Turnaround Prospect In Defensive Medical Products
AARD75/100 confidence · 59 direct 32SHAREHOLDER ALERT Bernstein Liebhard LLP Announces A
PODD80/100 confidence · 148 direct 32Insulet (NASDAQ:PODD): Growth at a Reasonable Valuation
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
Sector constituents
Top 100 of 944 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.