Inactive · established relationshipLatest completed snapshot · Aug 21 · 16:11 ET

MARKET-DISCOVERED GROUP

Music & Live Events

THE TRADER READRecurring relationship, inactive in the latest snapshot

Price direction is split across 5 measured members. Capital-flow agreement is 4%, so the basket is not yet clean.

Price breadth1 up · 3 downRelative median unavailable

Capital-flow alignment4%Price breadth is not yet confirmed by flow

Activity nowCalmActivity score 11/100 · lift 0.8×

Evidence depth1 episodeLow sample—context, not a validated playbook

EVIDENCE CLOCK

What happened, in timestamp order

0 timed events

TIMING READA causal timing read is unavailable because no material member price onset could be timestamped.

No session event has enough timestamp precision to place on the clock.

2 earlier filing context receipts

WED, NOV 12LLYVA filing documented shared operating contextdemand / volume affecting revenue · date precision only

MON, AUG 3ULS filing documented shared operating contextdemand / volume affecting revenue · date precision only

01 · WHAT IS HAPPENING

The move, the flow and who is driving it

Price breadth, unusual activity and signed capital flow are separate observations

Price sequence unavailableA timestamped price sequence is unavailable.

RELATIVE CO-MOVEMENT

How the members are behaving together

Session-normalized

Observed intraday paths are not available for this group yet.

02 · WHY IT MATTERS

Why now and where the move could travel

Context and lead/lag links are evidence, not proof of causation or a forecast

WHY NOW

Verified recent context

0 items

No verified recent catalyst is attached to this move. The relationship may be market-led rather than news-led.

WHY THIS GROUP EXISTS

Shared filing context

3/5 members covered

Moderate filing support: the strongest shared 10-Q/K outlook is operating setup (near-term outlook) across LYV, ULS.

demand / volume affecting revenue

“These increases were partially offset by a decrease in revenue tied to the Kentucky Derby of $11,436 thousand, due to lower demand in the current year as compared to the prior year (which had increased demand related to the 150th Anniversary of the Kentucky Derby), and a decrease related to the Super Bowl of $3,225 thousand, due to a reduction in experiential package offerings compared to the prior year.”
LLYVA 10-Q · 2025-11-13

credit / rates

“Financing Activities Cash used in financing activities decreased $369.7 million for the nine months ended September 30, 2025 as compared to the same period of the prior year primarily due to the draw down of $775.0 million from our revolving credit facility as well as lower payments on debt.”
LYV 10-Q · 2025-11-04

capital investment / capacity affecting revenue

“Revenue generating capital expenditures for 2025 increased from the same period of the prior year primarily due to venue expansion and enhancements across North America and Latin America.”
LYV 10-K · 2026-02-19

CONFIRMATION NETWORK

Outsiders and cross-asset links

0 outsiders confirming

No qualified cross-asset lead/lag link is available for this group.

Filing-linked outsiders test whether the move is spreading beyond the established cohort.

ACINot confirming

LYV · text peer

GSATNot confirming

LYV · text peer

VLYNot confirming

LYV · text peer

ENBNot confirming

LYV · text peer

03 · WHO IS IN IT

Member participation

Unusual activity and daily price direction are shown separately

LLYVAMANULYVULSSONY

5/5 active2 rising · 3 falling

MemberUnusual activityToday's moveRead now

LLYVALiberty Live Holdings, Inc.

Most unusual · 100/100

-1.0%

Flow confirmerActive in 100% of observed group sessions

MANUManchester

Elevated · 75/100

-1.4%

Flow confirmerActive in 100% of observed group sessions

LYVLive Nation Entertainment, Inc.

Elevated · 57/100

+0.1%

Flow divergenceActive in 100% of observed group sessions

ULSUL Solutions Inc.

Elevated · 45/100

-0.3%

Flow divergenceActive in 100% of observed group sessions

SONYSony Group Corporation

Elevated · 40/100

+1.5%

Flow confirmerActive in 100% of observed group sessions

View exact member values

TICKER	Company	Role now	Today	Observed history	Trader interpretation
LLYVA	Liberty Live Holdings, Inc.	Most unusual	-1.0%	100% of 1 sessions	Most unusual activity in this snapshot; performance direction may differ.
MANU	Manchester	Participating	-1.4%	100% of 1 sessions	Price participation with accumulating signed flow.
LYV	Live Nation Entertainment, Inc.	Participating	+0.1%	100% of 1 sessions	Price participation with distributing signed flow.
ULS	UL Solutions Inc.	Participating	-0.3%	100% of 1 sessions	Price participation with distributing signed flow.
SONY	Sony Group Corporation	Participating	+1.5%	100% of 1 sessions	Price participation with accumulating signed flow.

04 · HAS THIS HAPPENED BEFORE

Identity history versus measured outcomes

Structural recurrence is not the same as a validated trading outcome

POINT-IN-TIME LIVE OUTCOMES

Live outcome ledger collecting

0/0 events completed

No completed point-in-time outcome is available yet. New live confirmations are now retained with their exact observation timestamp; statistics appear only after the corresponding candles complete.

Low structural sample

Only 1 completed episode across 1 active session; treat history as context, not a validated playbook. These episode counts describe recurrence; the outcome ledger above is the only forward-performance evidence.

Structural support8 daysHow often the cohort identity was observed

Completed episodes1Separate periods of broad group activity

Active sessions1Completed session observations, not trades

2026-08-181 active session100% composition consistency through the episode

MEMBER CONSISTENCY IN OBSERVED ACTIVE SESSIONS

LLYVA100% · 1 episode

LYV100% · 1 episode

MANU100% · 1 episode

SONY100% · 1 episode

ULS100% · 1 episode