diff --git a/src/Chip8.Analysis/TraceEntry.cs b/src/Chip8.Analysis/TraceEntry.cs
new file mode 100644
index 0000000..bfc97b1
--- /dev/null
+++ b/src/Chip8.Analysis/TraceEntry.cs
@@ -0,0 +1,61 @@
+using System;
+using System.Globalization;
+using System.Text;
+using Chip8.Core;
+
+namespace Chip8.Analysis;
+
+public sealed class TraceEntry
+{
+    public TraceEntry(int step, ushort address, ushort opcode, ushort? extraWord, string mnemonic, byte[] registers, ushort index, byte stackPointer, byte delayTimer, byte soundTimer)
+    {
+        this.step = step;
+        this.address = address;
+        this.opcode = opcode;
+        this.extraWord = extraWord;
+        this.mnemonic = mnemonic;
+        this.registers = registers;
+        this.index = index;
+        this.stackPointer = stackPointer;
+        this.delayTimer = delayTimer;
+        this.soundTimer = soundTimer;
+    }
+
+    public int step { get; }
+    public ushort address { get; }
+    public ushort opcode { get; }
+    public ushort? extraWord { get; }
+    public string mnemonic { get; }
+    public byte[] registers { get; }
+    public ushort index { get; }
+    public byte stackPointer { get; }
+    public byte delayTimer { get; }
+    public byte soundTimer { get; }
+
+    public byte register(int slot) => registers[slot & 0xF];
+
+    public string registerDump()
+    {
+        var builder = new StringBuilder();
+        for (int slot = 0; slot < registers.Length; slot++)
+        {
+            if (slot > 0)
+            {
+                builder.Append(' ');
+            }
+            builder.Append('V').Append(slot.ToString("X1", CultureInfo.InvariantCulture));
+            builder.Append('=').Append(registers[slot].ToString("X2", CultureInfo.InvariantCulture));
+        }
+        return builder.ToString();
+    }
+
+    public override string ToString()
+    {
+        return "#" + step.ToString(CultureInfo.InvariantCulture).PadLeft(5)
+            + "  0x" + address.ToString("X4", CultureInfo.InvariantCulture)
+            + "  " + opcode.ToString("X4", CultureInfo.InvariantCulture)
+            + "  " + mnemonic.PadRight(18)
+            + "  I=0x" + index.ToString("X3", CultureInfo.InvariantCulture)
+            + "  SP=" + stackPointer.ToString(CultureInfo.InvariantCulture);
+    }
+}
diff --git a/src/Chip8.Analysis/TraceRecorder.cs b/src/Chip8.Analysis/TraceRecorder.cs
new file mode 100644
index 0000000..4ff1e7e
--- /dev/null
+++ b/src/Chip8.Analysis/TraceRecorder.cs
@@ -0,0 +1,93 @@
+using System;
+using System.Collections.Generic;
+using System.Text;
+using Chip8.Core;
+
+namespace Chip8.Analysis;
+
+public sealed class TraceRecorder
+{
+    readonly List<TraceEntry> entryList = new();
+
+    public IReadOnlyList<TraceEntry> entries => entryList;
+
+    public int count => entryList.Count;
+
+    public bool haltedOnSpin { get; private set; }
+
+    public TraceEntry this[int index] => entryList[index];
+
+    public static TraceRecorder record(byte[] program, int maxSteps, Platform platform = Platform.Chip8, Quirks? quirks = null, int seed = 1, bool stopOnSpin = true)
+    {
+        var machine = new Machine(quirks, seed, platform);
+        machine.loadRom(program);
+        var recorder = new TraceRecorder();
+        recorder.capture(machine, maxSteps, stopOnSpin);
+        return recorder;
+    }
+
+    public void capture(Machine machine, int maxSteps, bool stopOnSpin = true)
+    {
+        int spinRun = 0;
+
+        for (int step = 0; step < maxSteps; step++)
+        {
+            if (machine.exited)
+            {
+                break;
+            }
+
+            ushort address = machine.pc;
+            ushort opcode = (ushort)((machine.memory[address] << 8) | machine.memory[address + 1]);
+            ushort? extraWord = null;
+            if (opcode == 0xF000)
+            {
+                extraWord = (ushort)((machine.memory[address + 2] << 8) | machine.memory[address + 3]);
+            }
+
+            string mnemonic = Disassembler.describe(opcode, extraWord ?? 0);
+            var registers = (byte[])machine.v.Clone();
+            entryList.Add(new TraceEntry(step, address, opcode, extraWord, mnemonic, registers, machine.i, machine.sp, machine.delayTimer, machine.soundTimer));
+
+            machine.step();
+
+            if (stopOnSpin && machine.pc == address)
+            {
+                spinRun++;
+                if (spinRun >= 2)
+                {
+                    haltedOnSpin = true;
+                    break;
+                }
+            }
+            else
+            {
+                spinRun = 0;
+            }
+        }
+    }
+
+    public IReadOnlyList<ushort> visitedAddresses()
+    {
+        var visited = new List<ushort>();
+        var seen = new HashSet<ushort>();
+        foreach (var entry in entryList)
+        {
+            if (seen.Add(entry.address))
+            {
+                visited.Add(entry.address);
+            }
+        }
+        return visited;
+    }
+
+    public string render()
+    {
+        var builder = new StringBuilder();
+        foreach (var entry in entryList)
+        {
+            builder.Append(entry).Append('\n');
+        }
+        return builder.ToString();
+    }
+}