Counter-trend rallies may occur, but primary structure and persistence do not yet support adding risk.
38
technical evidence
out of 100
out of 100
Week Ending: 28 August 2026
United States US Technology Industry
Scientific & Technical Instruments
For the week ending 28 August 2026, Scientific & Technical Instruments declined 1.90% with 7 advancing, 20 declining, and 0 unchanged constituents. The index is equal weighted and the constituent tape shows uncapped security returns.
Current architecture
Downward Expansion
The activity fan is bearishly ordered below the Trend Line with price accepted beneath it.
38
technical evidence
Index949.33
1 week-1.90%
Breadth26%
Members27
Country
🇺🇸 United States · US
Sector
Technology
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
Downward Expansion
5 completed weeks in this state
Trend acceptance
-12.4%
Index versus Trend Line
Persistence
100%
Negative across every horizon
Participation
26%
7 advancing, 20 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
Reduce
Five-pillar map
Trend
23
Breadth
36
Persistence
55
Relative
27
Risk quality
74
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.
- 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 bearishly ordered below the Trend Line with price accepted beneath it.
State age5 weeks
Trend gateDown
Fan width8.65%
Fast versus slow change-2.15 pts
Above 0%
Below 83%
Six completed weeks of price acceptance relative to the full Activity Line fan.
Index persistence
100% agreement
Negative across every horizon
The 13, 26, 39 and 52-week trends all point downward, confirming persistent contraction.
13-week
-20.0%
26-week
-14.7%
39-week
-9.8%
52-week
-6.1%
Constituent trend persistence
100% coverage
Is the index move broadly durable?
59%positive
Coherent positive19%
Coherent negative19%
Average horizon agreement81%
Positive horizon share55%
Weakening positives9
Repairing negatives4
27 constituents measured as of 21 Aug 2026. Median trend age is 29 weeks.
Custom stage map
96% coverage
Where constituents sit in the cycle
42%Stage 2
Stage 1 · Basing12%3 securities
Stage 2 · Advancing42%11 securities
Stage 3 · Distribution12%3 securities
Stage 4 · Declining35%9 securities
Re-acceleration watch1
Transition watch5
Relative strength leaders15%
Fair Value repairs1
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 Technology
Relative index
13-week relative trend
Starting level
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 index94.5
13-week trend103.3
4-week trend change-3.59%
Weekly peer rank6 of 12
1 week
-1.2 pts
relative
4 weeks
-9.0 pts
relative
13 weeks
-11.0 pts
relative
26 weeks
-23.8 pts
relative
52 weeks
-5.0 pts
relative
Market internals
Participation, dispersion and path risk
Equal-weight index evidence with constituent-level breadth and dispersion.
Breadth
Narrow
Participation quality
26%
advanced
- Advancing
- 7
- Declining
- 20
- Unchanged
- 0
Risk and persistence
52-week lens
Path quality
Annualised weekly volatility22.9%
Drawdown from 52-week high-20.0%
Positive weeks, last 1331%
Current directional run3 weeks
Turnover versus 13-week norm55%
Breadth impulse-21.0 pts
Cross-section
27 measured
Return distribution
Q1 -4.5%
Median -2.2%
Q3 0.5%
Average winner5.3%
Average loser-4.4%
Dispersion5.6 pts
Top-five upside share93%
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?
59out of 100
Mostly positive
Positive company-news scores are spread across much of the measured market.
Evidence quality
49/100 confidence
Coverage before conviction
Qualified companies1141% of measured constituents
Articles868100% direct company evidence
Publishers219Independent sources represented
Latest evidence30 AugFreshness is weighted in the score
Constructive 82%Balanced 18%Cautious 0%
Price confirms news2
Price disagrees6
Negative news absorbed0
Positive but stretched6
Constructive edge
Strongest qualified tone
KEYS63/100 confidence · 110 direct
66
Keysight Technologies stock holds steady as investors await the next set of earnings figures
TRMB51/100 confidence · 107 direct 66Trimble (TRMB) Could Be 27% Undervalued Following Raised Guidance And Earnings Upgrades
ITRN40/100 confidence · 43 direct 63The Bull Case For Ituran Location and Control (ITRN) Could Change Following Dividend Hike A…
GRMN44/100 confidence · 65 direct 62Garmin (GRMN) Down 2.6% Since Last Earnings Report: Can It Rebound?
FTV45/100 confidence · 61 direct 61Fortive (FTV) Lifts Dividend As Fair Value Stays In Focus
Narrative risk
Weakest qualified tone
ITRI45/100 confidence · 51 direct
50
Why Is Itron (ITRI) Down 3.4% Since Last Earnings Report?
BMI46/100 confidence · 58 direct 51Badger Meter (BMI) Stock Looks Fairly Valued On Shareholder Investigation
COHR45/100 confidence · 124 direct 58Will Datacenter Momentum Keep Powering Coherent's Growth?
TDY51/100 confidence · 109 direct 58Teledyne Space Imaging CIS111 Detector Launches Aboard MTG-I2
MKSI51/100 confidence · 79 direct 59Earnings Estimates Moving Higher for MKS (MKSI): Time to Buy?
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 27 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.