The evidence is balanced enough to avoid a defensive call, but not aligned enough for aggressive positioning.
53
technical evidence
out of 100
out of 100
Week Ending: 28 August 2026
United States US Sector
Technology
For the week ending 28 August 2026, Technology declined 0.74% with 321 advancing, 369 declining, and 12 unchanged constituents. The index is equal weighted and built from NASDAQ, NYSE equities.
Current architecture
Rotation Up
Fast Activity Lines are gaining on the slow pair while price acceptance improves.
53
technical evidence
Index1132.14
1 week-0.74%
Breadth46%
Members703
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
Rotation Up
2 completed weeks in this state
Trend acceptance
2.0%
Index versus Trend Line
Persistence
50%
Negative regime, horizons divided
Participation
46%
321 advancing, 369 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
59
Breadth
42
Persistence
51
Relative
48
Risk quality
79
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.
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 width1.28%
Fast versus slow change1.03 pts
Above 33%
Below 50%
Six completed weeks of price acceptance relative to the full Activity Line fan.
Index persistence
50% agreement
Negative regime, horizons divided
The 52-week trend is negative, while shorter horizons remain mixed.
13-week
-9.0%
26-week
9.0%
39-week
1.1%
52-week
-1.2%
Constituent trend persistence
93% coverage
Is the index move broadly durable?
49%positive
Coherent positive20%
Coherent negative19%
Average horizon agreement77%
Positive horizon share53%
Weakening positives156
Repairing negatives133
654 constituents measured as of 21 Aug 2026. Median trend age is 28 weeks.
Custom stage map
90% coverage
Where constituents sit in the cycle
38%Stage 4
Stage 1 · Basing20%124 securities
Stage 2 · Advancing32%202 securities
Stage 3 · Distribution10%66 securities
Stage 4 · Declining38%241 securities
Re-acceleration watch6
Transition watch71
Relative strength leaders19%
Fair Value repairs89
Measured as of 21 Aug 2026. Stages summarize price, Activity Line architecture, Fair Value position and relative evidence.
Architecture breadth
74/100 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 index92.2
13-week trend93.9
4-week trend change-1.29%
Weekly peer rank6 of 12
1 week
0.3 pts
relative
4 weeks
0.4 pts
relative
13 weeks
-8.0 pts
relative
26 weeks
6.2 pts
relative
52 weeks
-4.4 pts
relative
Market internals
Participation, dispersion and path risk
Equal-weight index evidence with constituent-level breadth and dispersion.
Breadth
Balanced
Participation quality
46%
advanced
- Advancing
- 321
- Declining
- 369
- Unchanged
- 12
Risk and persistence
52-week lens
Path quality
Annualised weekly volatility23.3%
Drawdown from 52-week high-9.0%
Positive weeks, last 1338%
Current directional run2 weeks
Turnover versus 13-week norm88%
Breadth impulse-0.2 pts
Cross-section
702 measured
Return distribution
Q1 -4.2%
Median -0.4%
Q3 3.1%
Average winner5.4%
Average loser-6.1%
Dispersion9.1 pts
Top-five upside share14%
Top-five capital share52%
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.
4/12
positive
Above Trend Line5/1242% of industries
Constructive breadth4/12At least half advancing
Median industry-2.23%2.46 pts dispersion
#1
Advancing
Electronics & Computer Distribution
1.71%
Participation75%
vs Trend12.9%
vs Fair Value13.6%
Members8
#2
Transition
Software - Application
1.24%
Participation60%
vs Trend8.3%
vs Fair Value-16.2%
Members198
#3
Transition
Information Technology Services
0.44%
Participation53%
vs Trend5.3%
vs Fair Value-0.6%
Members64
#4
Transition
Software - Infrastructure
0.29%
Participation54%
vs Trend4.9%
vs Fair Value-9.6%
Members158
#5
Weakening
Electronic Components
-1.74%
Participation33%
vs Trend-2.9%
vs Fair Value41.0%
Members42
#6
Contracting
Scientific & Technical Instruments
-1.90%
Participation26%
vs Trend-12.4%
vs Fair Value-5.4%
Members27
#7
Weakening
Computer Hardware
-2.56%
Participation47%
vs Trend3.3%
vs Fair Value19.7%
Members36
#8
Weakening
Communication Equipment
-2.80%
Participation25%
vs Trend-5.4%
vs Fair Value53.7%
Members40
#9
Weakening
Semiconductors
-2.86%
Participation23%
vs Trend-2.7%
vs Fair Value38.0%
Members69
#10
Contracting
Consumer Electronics
-4.14%
Participation29%
vs Trend-25.7%
vs Fair Value-48.6%
Members14
#11
Contracting
Solar
-4.51%
Participation22%
vs Trend-28.1%
vs Fair Value-33.6%
Members18
#12
Weakening
Semiconductor Equipment & Materials
-6.93%
Participation11%
vs Trend-7.4%
vs Fair Value70.2%
Members27
News and narrative
Does company news confirm the market tape?
55out of 100
More positive than negative
Positive company scores outnumber negative ones, but the overall score remains close to 50.
Evidence quality
56/100 confidence
Coverage before conviction
Qualified companies23533% of measured constituents
Articles23174100% direct company evidence
Publishers4847Independent sources represented
Latest evidence29 AugFreshness is weighted in the score
Constructive 39%Balanced 52%Cautious 9%
Price confirms news48
Price disagrees116
Negative news absorbed6
Positive but stretched46
Constructive edge
Strongest qualified tone
OKTA74/100 confidence · 78 direct
72
Okta (OKTA) Grew Remaining Performance Obligations 17% While Revenue Rose 11%. Is the Platf…
CRWD83/100 confidence · 183 direct 69CrowdStrike's AI bet just paid off in a big way
BEEM57/100 confidence · 55 direct 69BEEM Q2 2026 Earnings: Narrower Loss Beats Estimates by 32.5% as Shares Slip 8.27% - Earnin…
SNPS84/100 confidence · 140 direct 68Synopsys (SNPS) Targets a 42% Non-GAAP Operating Margin. How Much Is the Ansys Acquisition …
CRM83/100 confidence · 277 direct 68Salesforce CEO Dismisses ‘SaaSpocalypse’ Fears as ‘Nonsense’ After CRM’s Record Q2: ‘Time f…
Narrative risk
Weakest qualified tone
GTM73/100 confidence · 109 direct
30
RingCentral, ZoomInfo, UiPath, 8x8, and BlackLine Shares Are Soaring, What You Need To Know
RXT74/100 confidence · 108 direct 30What Makes Rackspace Technology (RXT) an Investment Choice?
GDDY67/100 confidence · 75 direct 31The Art of Simplicity: Meet Raúl Rodríguez
BZAI71/100 confidence · 64 direct 31Kaplan Fox Encourages Investors of Blaize Holdings, Inc. (NASDAQ: BZAI) to Contact the Firm…
WIX73/100 confidence · 99 direct 31WIX Deadline Alert: Levi & Korsinsky Reminds Wix.com Ltd. (WIX) Investors of Securities Cla…
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 702 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.