Themes / Pair
Fading · newly observed relationshipLatest completed snapshot · 11:20 ET

MARKET-DISCOVERED GROUP

Commercial Cyclicals

THE TRADER READShared activity without a clean directional read

2 of 2 measured members are falling. Capital-flow confirmation is unavailable.

Price breadth2 of 2 fallingRelative median unavailable
Capital-flow alignmentUnavailablePrice breadth is not yet confirmed by flow
Activity nowLow_pressureActivity score 29/100
Evidence depth0 support daysLow 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

TUE, FEB 24RUSHA filing documented shared operating contextcredit / rates · date precision only

MON, JUL 27ZWS filing documented shared operating contextcredit / rates · date precision only

Headline times and retained activity confirmations are point-in-time evidence. Price order is inferred from aligned 5-minute bars. Filing evidence has date precision only and is context, not an intraday catalyst claim.

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

3/3 members covered

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

credit / rates

26 Table of Contents Adjusted EBITDA Adjusted EBITDA is an important measure because, under our credit agreement, our ability to incur certain types of acquisition debt and certain types of subordinated debt, make certain types of acquisitions or asset exchanges, operate our business and make dividends or other distributions, all of which will impact our financial performance, is impacted by our Adjusted EBITDA, as our lenders measure our performance with a Total Net Leverage Ratio by comparing our senior secured bank indebtedness to our Adjusted EBITDA (see "Covenant Compliance" for additional discussion of this ratio, including a reconciliation to our net income). "Adjusted EBITDA" is the term we use to describe EBITDA as defined and adjusted in our credit agreement, which is net income, adjusted for the items summarized in the table in the "Covenant Compliance" section.

ZWS 10-Q · 2026-07-28
credit / rates affecting interest expense

The decrease in interest expense, net as compared to the prior year period is primarily due to reduced interest expense in the current year as a result of lower interest rates and interest earned on higher cash balances.

ZWS 10-Q · 2026-04-21
demand / volume

The demand for our products is primarily driven by new institutional and commercial building construction, the retrofit of existing structures (to make them more energy and water efficient) and, to a lesser extent, new infrastructure and residential construction.

ZWS 10-K · 2026-02-09
CONFIRMATION NETWORK

Outsiders and cross-asset links

0 outsiders confirming
RUSHAEMBInverse historical lead/lag · strength -0.21
RUSHAHYGInverse historical lead/lag · strength -0.16

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

No high-confidence filing-linked outsiders are available for this group yet.

03 · WHO IS IN IT

Member participation

Unusual activity and daily price direction are shown separately
RUSHAZWSRUSHB

3/2 active0 rising · 2 falling

MemberUnusual activityToday's moveRead now
RUSHARush Enterprises, Inc.
Elevated · 100/100
-2.2%
Active; unclassifiedHistorical role unavailable
ZWSZurn Elkay Water Solutions Corporation
Most unusual · 78/100
-2.4%
Active; unclassifiedHistorical role unavailable
RUSHBRush Enterprises, Inc.
Elevated · 76/100
Active; unclassifiedHistorical role unavailable
View exact member values
TICKERCompanyRole nowTodayObserved historyTrader interpretation
RUSHARush Enterprises, Inc.Participating-2.2%Price participation is not yet confirmed by per-name flow.
ZWSZurn Elkay Water Solutions CorporationMost unusual-2.4%Most unusual activity in this snapshot; performance direction may differ.
RUSHBRush Enterprises, Inc.ParticipatingPrice participation is not yet confirmed by per-name 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.

No point-in-time live observations have completed yet.
Low structural sample

Only 0 completed episodes across 0 active sessions; treat history as context, not a validated playbook. These episode counts describe recurrence; the outcome ledger above is the only forward-performance evidence.

Structural support0 daysHow often the cohort identity was observed
Completed episodes0Separate periods of broad group activity
Active sessions0Completed session observations, not trades

Historical cohort observations are not available yet.