{ "ticker": { "uuid": "0348fada-233d-4d7a-a49a-70f6ad4d8972", "symbol": "MAKS", "name": "Making Science Group, S.A.", "exchange": "MCE", "country": "ES", "assetType": "equity" }, "methodBoundary": "Trend Architecture is a weekly structural classification, not a forecast, probability of return, recommendation or execution signal. Confidence measures geometric agreement and external confirmation only.", "analysis": { "eligible": true, "as_of": "2026-08-07", "benchmark": "^IBEX", "stage": 4, "stage_name": "Declining", "phase": "4b", "phase_label": "Stage 4B \u00b7 Declining", "transition": "stage_4_declining", "transition_label": "Stage 4 decline intact", "confidence": 96.0, "architecture_regime": "downward_expansion", "architecture_regime_label": "Downward Expansion", "architecture_modifier": "Established contraction", "architecture_gate": "down", "architecture_direction": -76.209, "architecture_energy": 73.678, "architecture_maturity": 54.584, "architecture_confidence": 87.981, "architecture_tenure": "Established", "architecture": { "interpretation": { "headline": "The weekly architecture is expanding downward.", "body": "Trend and Activity show sustained negative alignment with weak price acceptance. Repair requires persistent improvement across the structure, not merely one strong observation." }, "scores": { "balance": 3.68, "rotation_up": 17.27, "upward_expansion": 14.67, "deceleration": 44.95, "rotation_down": 71.69, "downward_expansion": 90.33 }, "activity_lines": [ 6.63, 6.76, 7.11, 7.364624 ], "activity_state": "Wide", "activity_direction": "Expanding", "rotation_direction": "Weakening", "price_acceptance": -0.833333 }, "latest_close": 6.5, "trend_reference": 7.713333, "distance_from_trend": -0.157303, "trend_direction": "Weakening", "fair_value": 8.62514, "distance_from_fair_value": -0.246389, "fair_value_direction": "Weakening", "relative_strength": -32.317586, "relative_strength_direction": "Weakening", "price_momentum": -0.252874, "excess_performance": -0.377304, "evidence": [ { "label": "Price vs Trend", "positive": false, "value": -0.157303, "read": "Below" }, { "label": "Trend direction", "positive": false, "value": -0.061829, "read": "Falling" }, { "label": "Price vs current Fair Value", "positive": false, "value": -0.246389, "read": "Below anchor" }, { "label": "Fair Value direction", "positive": false, "value": -0.158392, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.323176, "read": "Lagging" }, { "label": "Relative strength direction", "positive": false, "value": -0.155213, "read": "Weakening" }, { "label": "Price momentum", "positive": false, "value": -0.252874, "read": "Negative" }, { "label": "Volume balance", "positive": false, "value": 0.571769, "read": "Supply-led" } ], "volume": { "latest": 9209, "relative_activity": 1.024053, "balance": 0.571769, "dry_up": 0.96481, "accumulation_observations": 2, "distribution_observations": 5 }, "risk": { "range_context": 0.050888, "annualized_volatility": 0.199417, "from_high_reference": -0.312169, "from_low_reference": 0.015625 }, "levels": { "trend_reference": 7.713333, "fair_value_reference": 8.62514, "structural_low": 6.4, "invalidation": "Reclaiming a flat-to-rising Trend with improving relative strength is required before the declining diagnosis is repaired." }, "outcomes": [ { "horizon": "Near term", "sample_count": 36, "median_return": -0.025235, "positive_rate": 0.333333, "directional_follow_through": 0.583333, "median_excess_return": -0.049808, "regime_survival": 0.833333, "best_return": 0.343137, "worst_return": -0.206349, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 12, "median_return": -0.089112, "positive_rate": 0.333333, "directional_follow_through": 0.583333, "median_excess_return": -0.111286, "regime_survival": 0.583333, "best_return": 0.201754, "worst_return": -0.266297, "sufficient": true }, { "horizon": "Extended", "sample_count": 7, "median_return": -0.05, "positive_rate": 0.142857, "directional_follow_through": 0.857143, "median_excess_return": -0.174777, "regime_survival": 0.571429, "best_return": 0.168831, "worst_return": -0.350574, "sufficient": true }, { "horizon": "Full cycle", "sample_count": 3, "median_return": -0.306569, "positive_rate": 0.0, "directional_follow_through": 0.666667, "median_excess_return": -0.397284, "regime_survival": 0.333333, "best_return": 0.0, "worst_return": -0.379991, "sufficient": false } ], "ledger": [ { "regime": "balance", "label": "Balance", "color": "blue", "start": "2024-05-24", "end": "2024-06-21", "tenure": "Developing", "return": -0.036486, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2024-06-28", "end": "2024-09-27", "tenure": "Established", "return": -0.017647, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2024-10-04", "end": "2024-11-01", "tenure": "Developing", "return": 0.063953, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2024-11-08", "end": "2024-11-29", "tenure": "New", "return": -0.05, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2024-12-06", "end": "2024-12-20", "tenure": "New", "return": -0.076023, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2024-12-27", "end": "2025-01-10", "tenure": "New", "return": 0.012821, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-01-17", "end": "2025-03-14", "tenure": "Developing", "return": 0.136364, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2025-03-21", "end": "2025-04-25", "tenure": "Developing", "return": -0.047872, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2025-05-02", "end": "2025-05-23", "tenure": "New", "return": 0.056818, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-05-30", "end": "2025-07-11", "tenure": "Developing", "return": -0.043478, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-07-18", "end": "2025-11-14", "tenure": "Established", "return": -0.061111, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-11-21", "end": "2026-01-23", "tenure": "Developing", "return": 0.011905, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-01-30", "end": "2026-03-13", "tenure": "Developing", "return": -0.08046, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2026-03-20", "end": "2026-08-07", "tenure": "Established", "return": -0.1875, "active": true } ], "chart_path": [ { "date": "2023-08-18", "close": 8.85, "volume": 8945, "typical_volume": 4568.1, "trend": 11.456667, "fair_value": 17.402238, "relative_strength": -26.4421, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -86.543455, "energy": 71.568536, "activity_lines": [ 9.346667, 9.594545, 10.149524, 10.711183 ] }, { "date": "2023-08-25", "close": 8.7, "volume": 3403, "typical_volume": 4534.9, "trend": 11.31, "fair_value": 17.419725, "relative_strength": -27.576564, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -83.848394, "energy": 72.67276, "activity_lines": [ 9.086667, 9.387273, 9.952857, 10.533333 ] }, { "date": "2023-09-01", "close": 8.85, "volume": 7595, "typical_volume": 4677.0, "trend": 11.148333, "fair_value": 17.437854, "relative_strength": -26.558192, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -73.292246, "energy": 77.988838, "activity_lines": [ 8.946667, 9.24, 9.788571, 10.374624 ] }, { "date": "2023-09-08", "close": 8.35, "volume": 8902, "typical_volume": 4772.8, "trend": 10.993333, "fair_value": 17.453417, "relative_strength": -29.384222, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -82.749414, "energy": 83.535582, "activity_lines": [ 8.696667, 9.031818, 9.594048, 10.194086 ] }, { "date": "2023-09-15", "close": 8.85, "volume": 6116, "typical_volume": 4991.3, "trend": 10.861667, "fair_value": 17.46708, "relative_strength": -25.985208, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -66.814617, "energy": 65.400793, "activity_lines": [ 8.696667, 8.953636, 9.465952, 10.055806 ] }, { "date": "2023-09-22", "close": 8.7, "volume": 3364, "typical_volume": 5080.1, "trend": 10.718333, "fair_value": 17.483291, "relative_strength": -26.268674, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -64.246226, "energy": 60.690378, "activity_lines": [ 8.69, 8.869091, 9.340476, 9.916344 ] }, { "date": "2023-09-29", "close": 8.6, "volume": 1694, "typical_volume": 5041.05, "trend": 10.568333, "fair_value": 17.495033, "relative_strength": -25.822097, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -65.755093, "energy": 58.081089, "activity_lines": [ 8.66, 8.780909, 9.223095, 9.779677 ] }, { "date": "2023-10-06", "close": 8.4, "volume": 3473, "typical_volume": 4734.4, "trend": 10.428333, "fair_value": 17.503898, "relative_strength": -25.319195, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -68.863426, "energy": 56.148574, "activity_lines": [ 8.57, 8.677273, 9.10381, 9.639785 ] }, { "date": "2023-10-13", "close": 8.35, "volume": 2665, "typical_volume": 4754.9, "trend": 10.293333, "fair_value": 17.506381, "relative_strength": -24.933837, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -69.000828, "energy": 57.904724, "activity_lines": [ 8.493333, 8.588182, 8.992619, 9.505699 ] }, { "date": "2023-10-20", "close": 8.2, "volume": 5765, "typical_volume": 4756.65, "trend": 10.153333, "fair_value": 17.494503, "relative_strength": -23.82115, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -71.557852, "energy": 61.722271, "activity_lines": [ 8.366667, 8.494545, 8.879762, 9.370645 ] }, { "date": "2023-10-27", "close": 8.1, "volume": 3137, "typical_volume": 4771.55, "trend": 10.013333, "fair_value": 17.480709, "relative_strength": -23.045367, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -72.932262, "energy": 70.773626, "activity_lines": [ 8.25, 8.406364, 8.766905, 9.238172 ] }, { "date": "2023-11-03", "close": 9.55, "volume": 31932, "typical_volume": 5924.35, "trend": 9.915, "fair_value": 17.45962, "relative_strength": -12.354014, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -33.11937, "energy": 28.765954, "activity_lines": [ 8.656667, 8.595455, 8.802619, 9.20828 ] }, { "date": "2023-11-10", "close": 11.1, "volume": 13616, "typical_volume": 6564.05, "trend": 9.868333, "fair_value": 17.435069, "relative_strength": 1.253639, "stage": 1, "regime": "rotation_up", "modifier": "Structural repair", "gate": "down", "direction": 17.245978, "energy": 24.820312, "activity_lines": [ 9.516667, 9.050909, 8.990476, 9.284731 ] }, { "date": "2023-11-17", "close": 10.8, "volume": 4750, "typical_volume": 6734.75, "trend": 9.818333, "fair_value": 17.411784, "relative_strength": -5.307321, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 42.213803, "energy": 49.398898, "activity_lines": [ 10.096667, 9.410909, 9.146905, 9.344839 ] }, { "date": "2023-11-24", "close": 10.7, "volume": 10904, "typical_volume": 7061.7, "trend": 9.761667, "fair_value": 17.394877, "relative_strength": -7.582367, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 33.903371, "energy": 50.632617, "activity_lines": [ 10.48, 9.708182, 9.292381, 9.40172 ] }, { "date": "2023-12-01", "close": 10.7, "volume": 3321, "typical_volume": 6776.85, "trend": 9.705, "fair_value": 17.370314, "relative_strength": -8.999378, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 29.993539, "energy": 69.789287, "activity_lines": [ 10.696667, 9.971818, 9.434524, 9.462258 ] }, { "date": "2023-12-08", "close": 10.1, "volume": 12104, "typical_volume": 7146.95, "trend": 9.635, "fair_value": 17.347009, "relative_strength": -14.452036, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 38.709727, "energy": 67.540881, "activity_lines": [ 10.54, 10.09, 9.51381, 9.487742 ] }, { "date": "2023-12-15", "close": 10.0, "volume": 3920, "typical_volume": 7102.75, "trend": 9.598333, "fair_value": 17.32051, "relative_strength": -13.852927, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 34.15842, "energy": 38.474268, "activity_lines": [ 10.313333, 10.162727, 9.581905, 9.51129 ] }, { "date": "2023-12-22", "close": 9.9, "volume": 4062, "typical_volume": 7221.3, "trend": 9.561667, "fair_value": 17.293371, "relative_strength": -14.487948, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 18.500423, "energy": 21.910818, "activity_lines": [ 10.126667, 10.188182, 9.639048, 9.530753 ] }, { "date": "2023-12-29", "close": 10.0, "volume": 4940, "typical_volume": 7230.4, "trend": 9.555, "fair_value": 17.266872, "relative_strength": -13.229729, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "up", "direction": 39.65591, "energy": 23.180466, "activity_lines": [ 10.033333, 10.203636, 9.704286, 9.559032 ] }, { "date": "2024-01-05", "close": 9.8, "volume": 2819, "typical_volume": 6924.1, "trend": 9.538333, "fair_value": 17.245472, "relative_strength": -15.189622, "stage": 4, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 35.649777, "energy": 22.655979, "activity_lines": [ 9.92, 10.15, 9.748095, 9.574839 ] }, { "date": "2024-01-12", "close": 10.1, "volume": 2555, "typical_volume": 6881.7, "trend": 9.525, "fair_value": 17.219615, "relative_strength": -11.769114, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 34.221417, "energy": 18.866245, "activity_lines": [ 9.966667, 10.12, 9.815952, 9.611075 ] }, { "date": "2024-01-19", "close": 10.0, "volume": 576, "typical_volume": 6530.75, "trend": 9.508333, "fair_value": 17.194392, "relative_strength": -9.981485, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 33.593019, "energy": 17.632655, "activity_lines": [ 9.98, 10.061818, 9.867619, 9.64172 ] }, { "date": "2024-01-26", "close": 10.0, "volume": 1403, "typical_volume": 6155.8, "trend": 9.491667, "fair_value": 17.170446, "relative_strength": -10.015895, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 32.701616, "energy": 16.855521, "activity_lines": [ 9.993333, 10.023636, 9.91381, 9.673441 ] }, { "date": "2024-02-02", "close": 9.5, "volume": 10428, "typical_volume": 6371.4, "trend": 9.475, "fair_value": 17.132448, "relative_strength": -14.79218, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 20.919383, "energy": 11.550247, "activity_lines": [ 9.833333, 9.909091, 9.904524, 9.673978 ] }, { "date": "2024-02-09", "close": 9.4, "volume": 4056, "typical_volume": 6406.0, "trend": 9.471667, "fair_value": 17.037024, "relative_strength": -13.561612, "stage": 4, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -0.778489, "energy": 10.523051, "activity_lines": [ 9.673333, 9.798182, 9.882619, 9.66914 ] }, { "date": "2024-02-16", "close": 9.3, "volume": 3328, "typical_volume": 6487.7, "trend": 9.456667, "fair_value": 16.953719, "relative_strength": -13.742629, "stage": 4, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "up", "direction": -6.338084, "energy": 23.470069, "activity_lines": [ 9.506667, 9.692727, 9.847857, 9.658065 ] }, { "date": "2024-02-23", "close": 9.1, "volume": 4076, "typical_volume": 6517.85, "trend": 9.436667, "fair_value": 16.833403, "relative_strength": -16.877953, "stage": 4, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -33.388655, "energy": 53.215874, "activity_lines": [ 9.326667, 9.565455, 9.790714, 9.635054 ] }, { "date": "2024-03-01", "close": 8.8, "volume": 5016, "typical_volume": 6635.4, "trend": 9.41, "fair_value": 16.711163, "relative_strength": -18.351181, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -41.332456, "energy": 63.588488, "activity_lines": [ 9.106667, 9.4, 9.701667, 9.593978 ] }, { "date": "2024-03-08", "close": 8.5, "volume": 4740, "typical_volume": 6584.15, "trend": 9.376667, "fair_value": 16.561479, "relative_strength": -22.235656, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -47.920616, "energy": 71.405744, "activity_lines": [ 8.866667, 9.2, 9.581905, 9.535269 ] }, { "date": "2024-03-15", "close": 8.55, "volume": 2889, "typical_volume": 6571.75, "trend": 9.366667, "fair_value": 16.438275, "relative_strength": -23.076631, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -48.988976, "energy": 73.629513, "activity_lines": [ 8.71, 9.036364, 9.465476, 9.481935 ] }, { "date": "2024-03-22", "close": 8.35, "volume": 1767, "typical_volume": 5063.5, "trend": 9.355, "fair_value": 16.322721, "relative_strength": -26.372625, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -51.541659, "energy": 77.593962, "activity_lines": [ 8.543333, 8.859091, 9.327857, 9.416344 ] }, { "date": "2024-03-29", "close": 8.7, "volume": 1473, "typical_volume": 4456.35, "trend": 9.35, "fair_value": 16.19346, "relative_strength": -23.419803, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -39.301311, "energy": 68.666543, "activity_lines": [ 8.556667, 8.777273, 9.229286, 9.374086 ] }, { "date": "2024-04-05", "close": 8.3, "volume": 4099, "typical_volume": 4423.8, "trend": 9.348333, "fair_value": 16.058445, "relative_strength": -25.06169, "stage": 4, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -74.855918, "energy": 77.355904, "activity_lines": [ 8.463333, 8.646364, 9.104048, 9.306344 ] }, { "date": "2024-04-12", "close": 9.0, "volume": 8002, "typical_volume": 4278.7, "trend": 9.353333, "fair_value": 15.918346, "relative_strength": -16.209958, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -61.120619, "energy": 48.94646, "activity_lines": [ 8.636667, 8.673636, 9.057381, 9.283871 ] }, { "date": "2024-04-19", "close": 8.7, "volume": 3180, "typical_volume": 4271.65, "trend": 9.353333, "fair_value": 15.776325, "relative_strength": -18.559297, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -47.420291, "energy": 37.195591, "activity_lines": [ 8.676667, 8.655455, 8.990238, 9.24172 ] }, { "date": "2024-04-26", "close": 9.15, "volume": 5774, "typical_volume": 3955.15, "trend": 9.371667, "fair_value": 15.655053, "relative_strength": -16.772644, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -40.150215, "energy": 25.254472, "activity_lines": [ 8.856667, 8.731818, 8.975476, 9.228602 ] }, { "date": "2024-05-03", "close": 9.0, "volume": 3246, "typical_volume": 3921.45, "trend": 9.391667, "fair_value": 15.528991, "relative_strength": -15.002167, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -33.341543, "energy": 25.701896, "activity_lines": [ 8.933333, 8.783636, 8.950952, 9.204624 ] }, { "date": "2024-05-10", "close": 9.0, "volume": 772, "typical_volume": 3756.95, "trend": 9.413333, "fair_value": 15.402929, "relative_strength": -16.076627, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -31.601212, "energy": 23.184052, "activity_lines": [ 8.99, 8.837273, 8.93119, 9.179355 ] }, { "date": "2024-05-17", "close": 8.95, "volume": 916, "typical_volume": 3555.75, "trend": 9.438333, "fair_value": 15.27527, "relative_strength": -17.506855, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -28.149608, "energy": 22.139851, "activity_lines": [ 8.983333, 8.878182, 8.910952, 9.149462 ] }, { "date": "2024-05-24", "close": 8.821875, "volume": 7409, "typical_volume": 3785.25, "trend": 9.462396, "fair_value": 15.145515, "relative_strength": -17.413285, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -26.12668, "energy": 14.294513, "activity_lines": [ 8.937292, 8.887614, 8.883512, 9.109691 ] }, { "date": "2024-05-31", "close": 9.0, "volume": 4665, "typical_volume": 3890.75, "trend": 9.444062, "fair_value": 15.018177, "relative_strength": -15.800198, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -21.755288, "energy": 12.871259, "activity_lines": [ 8.9425, 8.924489, 8.877693, 9.079859 ] }, { "date": "2024-06-07", "close": 8.8, "volume": 1493, "typical_volume": 3936.6, "trend": 9.367396, "fair_value": 14.893385, "relative_strength": -17.708567, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -37.359666, "energy": 21.478547, "activity_lines": [ 8.891042, 8.913182, 8.858065, 9.038306 ] }, { "date": "2024-06-14", "close": 8.7, "volume": 6655, "typical_volume": 4199.2, "trend": 9.297396, "fair_value": 14.783265, "relative_strength": -15.042155, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -44.283631, "energy": 26.442722, "activity_lines": [ 8.819583, 8.881875, 8.834628, 8.995249 ] }, { "date": "2024-06-21", "close": 8.5, "volume": 2191, "typical_volume": 3787.35, "trend": 9.224063, "fair_value": 14.678243, "relative_strength": -16.672213, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -54.155731, "energy": 38.24338, "activity_lines": [ 8.701458, 8.806932, 8.798333, 8.943804 ] }, { "date": "2024-06-28", "close": 8.5, "volume": 44293, "typical_volume": 5799.2, "trend": 9.150729, "fair_value": 14.561099, "relative_strength": -15.438582, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -63.224897, "energy": 52.544667, "activity_lines": [ 8.613333, 8.74108, 8.766801, 8.89709 ] }, { "date": "2024-07-05", "close": 8.85, "volume": 7164, "typical_volume": 5991.0, "trend": 9.109063, "fair_value": 14.451941, "relative_strength": -12.081545, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -52.759157, "energy": 41.013058, "activity_lines": [ 8.663333, 8.7425, 8.772887, 8.877688 ] }, { "date": "2024-07-12", "close": 8.25, "volume": 26116, "typical_volume": 7093.0, "trend": 9.050729, "fair_value": 14.34404, "relative_strength": -19.231709, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -71.804467, "energy": 56.871354, "activity_lines": [ 8.523333, 8.640284, 8.723973, 8.822265 ] }, { "date": "2024-07-19", "close": 8.0, "volume": 12902, "typical_volume": 7487.3, "trend": 8.987396, "fair_value": 14.24347, "relative_strength": -20.023795, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -76.400382, "energy": 63.299317, "activity_lines": [ 8.336667, 8.50625, 8.655298, 8.754476 ] }, { "date": "2024-07-26", "close": 8.0, "volume": 2352, "typical_volume": 7367.9, "trend": 8.920729, "fair_value": 14.137795, "relative_strength": -20.099826, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -73.893963, "energy": 70.34539, "activity_lines": [ 8.196667, 8.390398, 8.590432, 8.690773 ] }, { "date": "2024-08-02", "close": 8.25, "volume": 13915, "typical_volume": 7919.2, "trend": 8.869063, "fair_value": 14.031171, "relative_strength": -13.328966, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -61.341576, "energy": 66.806135, "activity_lines": [ 8.173333, 8.337273, 8.551756, 8.6475 ] }, { "date": "2024-08-09", "close": 8.1, "volume": 4230, "typical_volume": 8042.35, "trend": 8.802396, "fair_value": 13.927414, "relative_strength": -14.175174, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -61.716977, "energy": 62.369008, "activity_lines": [ 8.116667, 8.267273, 8.500223, 8.597883 ] }, { "date": "2024-08-16", "close": 8.2, "volume": 1000, "typical_volume": 8018.7, "trend": 8.742396, "fair_value": 13.828125, "relative_strength": -15.206199, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -58.083083, "energy": 42.021189, "activity_lines": [ 8.143333, 8.231818, 8.459405, 8.559019 ] }, { "date": "2024-08-23", "close": 8.15, "volume": 6178, "typical_volume": 8122.65, "trend": 8.680729, "fair_value": 13.731069, "relative_strength": -17.803259, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -56.935201, "energy": 38.174781, "activity_lines": [ 8.156667, 8.198182, 8.416205, 8.5208 ] }, { "date": "2024-08-30", "close": 8.1, "volume": 3725, "typical_volume": 7908.8, "trend": 8.634063, "fair_value": 13.623483, "relative_strength": -18.792843, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -58.704192, "energy": 38.064825, "activity_lines": [ 8.143333, 8.165455, 8.368958, 8.483333 ] }, { "date": "2024-09-06", "close": 8.45, "volume": 3485, "typical_volume": 7924.05, "trend": 8.602396, "fair_value": 13.511761, "relative_strength": -13.290291, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -40.515809, "energy": 23.826662, "activity_lines": [ 8.24, 8.203636, 8.35933, 8.471458 ] }, { "date": "2024-09-13", "close": 9.1, "volume": 16369, "typical_volume": 8453.8, "trend": 8.595729, "fair_value": 13.404205, "relative_strength": -9.315292, "stage": 1, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -3.383395, "energy": 11.864869, "activity_lines": [ 8.54, 8.360909, 8.412798, 8.503562 ] }, { "date": "2024-09-20", "close": 9.1, "volume": 1004, "typical_volume": 8341.7, "trend": 8.595729, "fair_value": 13.296649, "relative_strength": -10.680289, "stage": 1, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "mixed", "direction": 29.386745, "energy": 31.778586, "activity_lines": [ 8.773333, 8.513636, 8.466503, 8.536095 ] }, { "date": "2024-09-27", "close": 8.35, "volume": 22781, "typical_volume": 9442.15, "trend": 8.580729, "fair_value": 13.181733, "relative_strength": -19.126613, "stage": 1, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "mixed", "direction": 4.994765, "energy": 20.569203, "activity_lines": [ 8.696667, 8.514545, 8.448304, 8.520242 ] }, { "date": "2024-10-04", "close": 8.6, "volume": 5603, "typical_volume": 9676.5, "trend": 8.584062, "fair_value": 13.070334, "relative_strength": -14.170998, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 11.45071, "energy": 22.011601, "activity_lines": [ 8.69, 8.554545, 8.457009, 8.521485 ] }, { "date": "2024-10-11", "close": 8.55, "volume": 2548, "typical_volume": 9433.45, "trend": 8.584062, "fair_value": 12.954148, "relative_strength": -14.779229, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 9.767073, "energy": 15.803111, "activity_lines": [ 8.633333, 8.574545, 8.462619, 8.519288 ] }, { "date": "2024-10-18", "close": 8.6, "volume": 2079, "typical_volume": 9304.15, "trend": 8.592396, "fair_value": 12.827437, "relative_strength": -15.400434, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -2.696992, "energy": 6.317668, "activity_lines": [ 8.586667, 8.598182, 8.474286, 8.520316 ] }, { "date": "2024-10-25", "close": 9.25, "volume": 22646, "typical_volume": 10361.8, "trend": 8.610729, "fair_value": 12.701701, "relative_strength": -7.877986, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 34.656717, "energy": 25.912189, "activity_lines": [ 8.79, 8.730909, 8.549762, 8.562742 ] }, { "date": "2024-11-01", "close": 9.15, "volume": 2388, "typical_volume": 10148.45, "trend": 8.639062, "fair_value": 12.575963, "relative_strength": -8.581297, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 39.010531, "energy": 47.100479, "activity_lines": [ 8.95, 8.826364, 8.613571, 8.597534 ] }, { "date": "2024-11-08", "close": 9.0, "volume": 5586, "typical_volume": 10318.2, "trend": 8.639062, "fair_value": 12.458195, "relative_strength": -6.953513, "stage": 1, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 30.43817, "energy": 49.283695, "activity_lines": [ 9.006667, 8.876364, 8.660952, 8.62082 ] }, { "date": "2024-11-15", "close": 8.9, "volume": 1261, "typical_volume": 8166.6, "trend": 8.645729, "fair_value": 12.346805, "relative_strength": -7.931834, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 30.408402, "energy": 50.421949, "activity_lines": [ 9.003333, 8.891818, 8.696429, 8.637655 ] }, { "date": "2024-11-22", "close": 8.9, "volume": 2675, "typical_volume": 7942.15, "trend": 8.637396, "fair_value": 12.234139, "relative_strength": -7.424471, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "up", "direction": 53.994043, "energy": 44.854719, "activity_lines": [ 8.976667, 8.899091, 8.73, 8.654059 ] }, { "date": "2024-11-29", "close": 8.55, "volume": 22376, "typical_volume": 7755.15, "trend": 8.622396, "fair_value": 12.123696, "relative_strength": -10.277291, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "up", "direction": 28.854384, "energy": 14.523151, "activity_lines": [ 8.813333, 8.846364, 8.73, 8.648421 ] }, { "date": "2024-12-06", "close": 8.55, "volume": 3723, "typical_volume": 7296.2, "trend": 8.607396, "fair_value": 12.023461, "relative_strength": -12.906138, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 21.040939, "energy": 15.079258, "activity_lines": [ 8.696667, 8.803636, 8.728571, 8.64375 ] }, { "date": "2024-12-13", "close": 8.5, "volume": 8980, "typical_volume": 7627.6, "trend": 8.592396, "fair_value": 11.931838, "relative_strength": -10.492873, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 13.297511, "energy": 15.979782, "activity_lines": [ 8.603333, 8.748182, 8.719762, 8.636821 ] }, { "date": "2024-12-20", "close": 7.9, "volume": 14185, "typical_volume": 7641.1, "trend": 8.561667, "fair_value": 11.828713, "relative_strength": -14.152207, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -35.774794, "energy": 32.16199, "activity_lines": [ 8.343333, 8.585455, 8.651429, 8.592151 ] }, { "date": "2024-12-27", "close": 7.8, "volume": 8540, "typical_volume": 7856.6, "trend": 8.521667, "fair_value": 11.725584, "relative_strength": -15.073502, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -39.838952, "energy": 57.664096, "activity_lines": [ 8.116667, 8.416364, 8.575238, 8.543011 ] }, { "date": "2025-01-03", "close": 7.8, "volume": 8264, "typical_volume": 8219.8, "trend": 8.488333, "fair_value": 11.622456, "relative_strength": -15.345783, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -37.108742, "energy": 62.137539, "activity_lines": [ 7.963333, 8.261818, 8.500476, 8.496452 ] }, { "date": "2025-01-10", "close": 7.9, "volume": 4878, "typical_volume": 8154.8, "trend": 8.461667, "fair_value": 11.521882, "relative_strength": -14.085242, "stage": 4, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -64.134482, "energy": 72.913969, "activity_lines": [ 7.893333, 8.151818, 8.437143, 8.458495 ] }, { "date": "2025-01-17", "close": 7.7, "volume": 4043, "typical_volume": 8170.7, "trend": 8.435, "fair_value": 11.420027, "relative_strength": -16.883245, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -69.146359, "energy": 73.164281, "activity_lines": [ 7.8, 8.028182, 8.355952, 8.409355 ] }, { "date": "2025-01-24", "close": 8.5, "volume": 39163, "typical_volume": 9954.6, "trend": 8.435, "fair_value": 11.327766, "relative_strength": -8.080053, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -51.467331, "energy": 37.357059, "activity_lines": [ 8.026667, 8.073636, 8.352857, 8.413548 ] }, { "date": "2025-01-31", "close": 7.95, "volume": 15063, "typical_volume": 9889.3, "trend": 8.405, "fair_value": 11.237084, "relative_strength": -16.082672, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -47.766838, "energy": 30.459815, "activity_lines": [ 8.03, 8.026364, 8.297143, 8.382258 ] }, { "date": "2025-02-07", "close": 7.65, "volume": 20366, "typical_volume": 10857.4, "trend": 8.385, "fair_value": 11.145755, "relative_strength": -20.594119, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -66.720869, "energy": 38.714141, "activity_lines": [ 7.923333, 7.941818, 8.218333, 8.333548 ] }, { "date": "2025-02-14", "close": 7.7, "volume": 5343, "typical_volume": 9985.5, "trend": 8.375, "fair_value": 11.064316, "relative_strength": -21.030046, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -60.176628, "energy": 35.364095, "activity_lines": [ 7.843333, 7.882727, 8.15119, 8.289355 ] }, { "date": "2025-02-21", "close": 7.7, "volume": 7331, "typical_volume": 10071.9, "trend": 8.365, "fair_value": 10.996277, "relative_strength": -20.387701, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -60.987458, "energy": 45.044385, "activity_lines": [ 7.776667, 7.839091, 8.087143, 8.245806 ] }, { "date": "2025-02-28", "close": 8.8, "volume": 507286, "typical_volume": 35308.8, "trend": 8.383333, "fair_value": 10.929546, "relative_strength": -11.217533, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -17.289646, "energy": 13.152467, "activity_lines": [ 8.076667, 8.01, 8.132143, 8.273871 ] }, { "date": "2025-03-07", "close": 8.7, "volume": 10073, "typical_volume": 35708.5, "trend": 8.403333, "fair_value": 10.866641, "relative_strength": -11.241846, "stage": 1, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -12.738449, "energy": 13.234075, "activity_lines": [ 8.323333, 8.146364, 8.166429, 8.294301 ] }, { "date": "2025-03-14", "close": 8.75, "volume": 1270, "typical_volume": 34639.7, "trend": 8.421667, "fair_value": 10.800866, "relative_strength": -8.684538, "stage": 1, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "mixed", "direction": 19.517007, "energy": 25.422512, "activity_lines": [ 8.536667, 8.275455, 8.205, 8.316667 ] }, { "date": "2025-03-21", "close": 9.4, "volume": 15675, "typical_volume": 35304.05, "trend": 8.463333, "fair_value": 10.736067, "relative_strength": -4.289012, "stage": 1, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 40.380669, "energy": 48.461807, "activity_lines": [ 8.893333, 8.505455, 8.307857, 8.379785 ] }, { "date": "2025-03-28", "close": 9.25, "volume": 31813, "typical_volume": 36615.4, "trend": 8.501667, "fair_value": 10.668393, "relative_strength": -5.302659, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 32.422451, "energy": 60.004522, "activity_lines": [ 9.086667, 8.680909, 8.395238, 8.430538 ] }, { "date": "2025-04-04", "close": 9.0, "volume": 31848, "typical_volume": 38144.75, "trend": 8.52, "fair_value": 10.604859, "relative_strength": -1.187888, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 26.464055, "energy": 55.921152, "activity_lines": [ 9.093333, 8.782727, 8.457619, 8.462688 ] }, { "date": "2025-04-11", "close": 9.0, "volume": 19980, "typical_volume": 39010.0, "trend": 8.516667, "fair_value": 10.541324, "relative_strength": 0.194141, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 33.207007, "energy": 51.390257, "activity_lines": [ 9.086667, 8.875455, 8.519524, 8.493656 ] }, { "date": "2025-04-18", "close": 8.95, "volume": 7419, "typical_volume": 38262.15, "trend": 8.511667, "fair_value": 10.467899, "relative_strength": -4.942077, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "up", "direction": 55.942383, "energy": 38.831158, "activity_lines": [ 9.043333, 8.94, 8.57619, 8.521613 ] }, { "date": "2025-04-25", "close": 8.95, "volume": 3696, "typical_volume": 38260.8, "trend": 8.531667, "fair_value": 10.391283, "relative_strength": -7.688916, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "up", "direction": 52.776631, "energy": 33.425477, "activity_lines": [ 8.986667, 8.980909, 8.630952, 8.549892 ] }, { "date": "2025-05-02", "close": 8.8, "volume": 4060, "typical_volume": 38014.8, "trend": 8.538333, "fair_value": 10.32232, "relative_strength": -9.433856, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 40.400717, "energy": 26.370874, "activity_lines": [ 8.91, 8.971818, 8.669524, 8.567204 ] }, { "date": "2025-05-09", "close": 8.85, "volume": 7788, "typical_volume": 37694.95, "trend": 8.548333, "fair_value": 10.257256, "relative_strength": -9.26071, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 36.89002, "energy": 22.170519, "activity_lines": [ 8.88, 8.951818, 8.711429, 8.587312 ] }, { "date": "2025-05-16", "close": 9.0, "volume": 19806, "typical_volume": 38258.25, "trend": 8.561667, "fair_value": 10.195076, "relative_strength": -10.713112, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 40.057599, "energy": 23.178555, "activity_lines": [ 8.91, 8.958182, 8.763095, 8.616452 ] }, { "date": "2025-05-23", "close": 9.3, "volume": 22860, "typical_volume": 38988.05, "trend": 8.563333, "fair_value": 10.133538, "relative_strength": -7.686141, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 63.461053, "energy": 35.782018, "activity_lines": [ 9.04, 9.013636, 8.837619, 8.664086 ] }, { "date": "2025-05-30", "close": 9.2, "volume": 9434, "typical_volume": 39215.85, "trend": 8.565, "fair_value": 10.071358, "relative_strength": -8.632863, "stage": 1, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 62.186891, "energy": 55.292492, "activity_lines": [ 9.113333, 9.040909, 8.895476, 8.705161 ] }, { "date": "2025-06-06", "close": 9.3, "volume": 2052, "typical_volume": 39116.3, "trend": 8.575, "fair_value": 10.017512, "relative_strength": -7.962497, "stage": 1, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 68.196461, "energy": 70.760337, "activity_lines": [ 9.203333, 9.09, 8.956667, 8.752581 ] }, { "date": "2025-06-13", "close": 9.2, "volume": 9866, "typical_volume": 37651.45, "trend": 8.585, "fair_value": 9.97905, "relative_strength": -6.416279, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 59.300035, "energy": 61.53968, "activity_lines": [ 9.226667, 9.12, 9.000714, 8.792903 ] }, { "date": "2025-06-20", "close": 9.1, "volume": 2288, "typical_volume": 37012.7, "trend": 8.591667, "fair_value": 9.94123, "relative_strength": -6.742614, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 57.193123, "energy": 52.274447, "activity_lines": [ 9.193333, 9.128182, 9.031905, 8.826129 ] }, { "date": "2025-06-27", "close": 9.0, "volume": 3640, "typical_volume": 36176.4, "trend": 8.606667, "fair_value": 9.898922, "relative_strength": -8.219417, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 52.404672, "energy": 34.345654, "activity_lines": [ 9.12, 9.116364, 9.048095, 8.852473 ] }, { "date": "2025-07-04", "close": 9.1, "volume": 5301, "typical_volume": 36174.3, "trend": 8.625, "fair_value": 9.864307, "relative_strength": -6.839361, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 38.717564, "energy": 24.330381, "activity_lines": [ 9.1, 9.121818, 9.067381, 8.884301 ] }, { "date": "2025-07-11", "close": 8.8, "volume": 2796, "typical_volume": 35947.55, "trend": 8.635, "fair_value": 9.832897, "relative_strength": -9.882749, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 21.221276, "energy": 15.71733, "activity_lines": [ 8.986667, 9.07, 9.051429, 8.895591 ] }, { "date": "2025-07-18", "close": 9.0, "volume": 71955, "typical_volume": 14181.0, "trend": 8.671667, "fair_value": 9.80405, "relative_strength": -7.502057, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 25.291573, "energy": 16.591733, "activity_lines": [ 8.973333, 9.054545, 9.049286, 8.91914 ] }, { "date": "2025-07-25", "close": 9.15, "volume": 4448, "typical_volume": 13899.75, "trend": 8.716667, "fair_value": 9.773602, "relative_strength": -7.411588, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 34.370092, "energy": 15.700803, "activity_lines": [ 9.023333, 9.063636, 9.060476, 8.95 ] }, { "date": "2025-08-01", "close": 9.1, "volume": 7818, "typical_volume": 14227.15, "trend": 8.76, "fair_value": 9.739948, "relative_strength": -6.864223, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 23.309442, "energy": 10.739359, "activity_lines": [ 9.053333, 9.060909, 9.064762, 8.974731 ] }, { "date": "2025-08-08", "close": 9.25, "volume": 3378, "typical_volume": 13612.3, "trend": 8.805, "fair_value": 9.710781, "relative_strength": -9.441635, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 52.550344, "energy": 27.300782, "activity_lines": [ 9.126667, 9.089091, 9.081667, 9.006344 ] }, { "date": "2025-08-15", "close": 9.45, "volume": 3829, "typical_volume": 12213.1, "trend": 8.863333, "fair_value": 9.688025, "relative_strength": -9.894955, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 62.718732, "energy": 44.168318, "activity_lines": [ 9.256667, 9.152727, 9.118333, 9.047957 ] }, { "date": "2025-08-22", "close": 9.2, "volume": 3060, "typical_volume": 10773.7, "trend": 8.886667, "fair_value": 9.666871, "relative_strength": -12.653962, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 51.385995, "energy": 40.065396, "activity_lines": [ 9.26, 9.168182, 9.130238, 9.069677 ] }, { "date": "2025-08-29", "close": 9.0, "volume": 5872, "typical_volume": 10068.3, "trend": 8.921667, "fair_value": 9.64764, "relative_strength": -11.647608, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 41.749197, "energy": 26.422088, "activity_lines": [ 9.183333, 9.147273, 9.122143, 9.076989 ] }, { "date": "2025-09-05", "close": 9.0, "volume": 3621, "typical_volume": 9878.4, "trend": 8.966667, "fair_value": 9.625845, "relative_strength": -10.764429, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 25.671264, "energy": 12.70246, "activity_lines": [ 9.116667, 9.128182, 9.114048, 9.082043 ] }, { "date": "2025-09-12", "close": 9.0, "volume": 2404, "typical_volume": 9813.8, "trend": 9.01, "fair_value": 9.607897, "relative_strength": -12.935525, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 18.672396, "energy": 12.745928, "activity_lines": [ 9.056667, 9.109091, 9.105714, 9.084194 ] }, { "date": "2025-09-19", "close": 8.95, "volume": 3942, "typical_volume": 9807.9, "trend": 9.051667, "fair_value": 9.594756, "relative_strength": -12.682788, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -13.769201, "energy": 15.507459, "activity_lines": [ 8.996667, 9.082727, 9.092381, 9.080323 ] }, { "date": "2025-09-26", "close": 8.6, "volume": 13714, "typical_volume": 10104.2, "trend": 9.045, "fair_value": 9.577127, "relative_strength": -16.258143, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -41.559962, "energy": 39.645187, "activity_lines": [ 8.853333, 8.99, 9.045, 9.051183 ] }, { "date": "2025-10-03", "close": 8.65, "volume": 15675, "typical_volume": 9897.65, "trend": 9.043333, "fair_value": 9.55982, "relative_strength": -16.601954, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -63.543612, "energy": 55.944599, "activity_lines": [ 8.766667, 8.913636, 9.003571, 9.025699 ] }, { "date": "2025-10-10", "close": 9.1, "volume": 21313, "typical_volume": 9820.3, "trend": 9.055, "fair_value": 9.543153, "relative_strength": -11.284843, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -46.720022, "energy": 38.432002, "activity_lines": [ 8.853333, 8.928182, 9.006667, 9.029355 ] }, { "date": "2025-10-17", "close": 8.85, "volume": 9792, "typical_volume": 9838.2, "trend": 9.036667, "fair_value": 9.524243, "relative_strength": -14.027247, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -49.084762, "energy": 32.972485, "activity_lines": [ 8.85, 8.897273, 8.986905, 9.016129 ] }, { "date": "2025-10-24", "close": 8.9, "volume": 6580, "typical_volume": 10064.6, "trend": 9.025, "fair_value": 9.50373, "relative_strength": -14.407213, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -45.101206, "energy": 22.260553, "activity_lines": [ 8.873333, 8.882727, 8.973571, 9.007312 ] }, { "date": "2025-10-31", "close": 8.95, "volume": 5889, "typical_volume": 9865.75, "trend": 9.023333, "fair_value": 9.488025, "relative_strength": -14.306036, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -31.312249, "energy": 14.578005, "activity_lines": [ 8.916667, 8.887273, 8.966905, 9.002473 ] }, { "date": "2025-11-07", "close": 8.7, "volume": 7053, "typical_volume": 10104.0, "trend": 9.013333, "fair_value": 9.474884, "relative_strength": -15.433268, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -42.899668, "energy": 21.214767, "activity_lines": [ 8.853333, 8.850909, 8.937619, 8.981613 ] }, { "date": "2025-11-14", "close": 8.45, "volume": 5166, "typical_volume": 10180.3, "trend": 8.996667, "fair_value": 9.467768, "relative_strength": -19.503709, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -61.106437, "energy": 41.41777, "activity_lines": [ 8.703333, 8.774545, 8.886429, 8.945269 ] }, { "date": "2025-11-21", "close": 8.4, "volume": 1275, "typical_volume": 9979.0, "trend": 8.978333, "fair_value": 9.453666, "relative_strength": -16.749994, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -64.72882, "energy": 57.25726, "activity_lines": [ 8.58, 8.699091, 8.833095, 8.906774 ] }, { "date": "2025-11-28", "close": 7.75, "volume": 25392, "typical_volume": 11108.8, "trend": 8.943333, "fair_value": 9.43155, "relative_strength": -25.181877, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -83.789085, "energy": 78.665679, "activity_lines": [ 8.27, 8.516364, 8.72119, 8.827527 ] }, { "date": "2025-12-05", "close": 7.65, "volume": 32928, "typical_volume": 9157.45, "trend": 8.903333, "fair_value": 9.415204, "relative_strength": -26.99527, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -82.324174, "energy": 84.689492, "activity_lines": [ 8.003333, 8.337273, 8.604762, 8.744086 ] }, { "date": "2025-12-12", "close": 8.05, "volume": 9787, "typical_volume": 9424.4, "trend": 8.871667, "fair_value": 9.401743, "relative_strength": -23.357568, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -64.771913, "energy": 75.774208, "activity_lines": [ 7.956667, 8.248182, 8.532857, 8.689032 ] }, { "date": "2025-12-19", "close": 9.0, "volume": 117506, "typical_volume": 14908.8, "trend": 8.861667, "fair_value": 9.39405, "relative_strength": -15.457047, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -43.13465, "energy": 36.03715, "activity_lines": [ 8.27, 8.342727, 8.556667, 8.697312 ] }, { "date": "2025-12-26", "close": 9.0, "volume": 9812, "typical_volume": 15230.5, "trend": 8.855, "fair_value": 9.388281, "relative_strength": -15.071059, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -20.900712, "energy": 12.805028, "activity_lines": [ 8.546667, 8.439091, 8.580952, 8.706237 ] }, { "date": "2026-01-02", "close": 8.65, "volume": 15404, "typical_volume": 15809.25, "trend": 8.833333, "fair_value": 9.378345, "relative_strength": -19.425492, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -24.393065, "energy": 23.058633, "activity_lines": [ 8.666667, 8.469091, 8.573095, 8.693011 ] }, { "date": "2026-01-09", "close": 8.5, "volume": 9717, "typical_volume": 16142.1, "trend": 8.81, "fair_value": 9.367448, "relative_strength": -21.049307, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -20.416177, "energy": 24.932867, "activity_lines": [ 8.676667, 8.476364, 8.554762, 8.671505 ] }, { "date": "2026-01-16", "close": 8.3, "volume": 2900, "typical_volume": 15993.5, "trend": 8.783333, "fair_value": 9.341486, "relative_strength": -22.744028, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -34.319942, "energy": 20.960321, "activity_lines": [ 8.563333, 8.455455, 8.520714, 8.638602 ] }, { "date": "2026-01-23", "close": 8.5, "volume": 15447, "typical_volume": 16584.8, "trend": 8.766667, "fair_value": 9.311999, "relative_strength": -19.558117, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -29.877544, "energy": 15.865346, "activity_lines": [ 8.5, 8.478182, 8.509048, 8.620323 ] }, { "date": "2026-01-30", "close": 8.7, "volume": 5973, "typical_volume": 16763.25, "trend": 8.753333, "fair_value": 9.279948, "relative_strength": -18.809917, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -15.006522, "energy": 10.306735, "activity_lines": [ 8.536667, 8.536364, 8.51881, 8.616022 ] }, { "date": "2026-02-06", "close": 8.7, "volume": 12935, "typical_volume": 17212.9, "trend": 8.75, "fair_value": 9.252384, "relative_strength": -18.784661, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -11.564624, "energy": 6.614191, "activity_lines": [ 8.593333, 8.589091, 8.53, 8.612581 ] }, { "date": "2026-02-13", "close": 8.75, "volume": 36460, "typical_volume": 18350.2, "trend": 8.741667, "fair_value": 9.226422, "relative_strength": -16.799949, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -5.375135, "energy": 9.066135, "activity_lines": [ 8.663333, 8.633636, 8.547143, 8.612581 ] }, { "date": "2026-02-20", "close": 8.4, "volume": 21094, "typical_volume": 18621.15, "trend": 8.716667, "fair_value": 9.196935, "relative_strength": -22.049615, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -20.430769, "energy": 12.018776, "activity_lines": [ 8.6, 8.594545, 8.530238, 8.590538 ] }, { "date": "2026-02-27", "close": 8.2, "volume": 8131, "typical_volume": 17962.05, "trend": 8.686667, "fair_value": 9.165525, "relative_strength": -24.106108, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -43.090176, "energy": 20.97892, "activity_lines": [ 8.463333, 8.512727, 8.495476, 8.557204 ] }, { "date": "2026-03-06", "close": 8.4, "volume": 19853, "typical_volume": 18465.1, "trend": 8.658333, "fair_value": 9.138602, "relative_strength": -15.946387, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -43.007591, "energy": 29.888685, "activity_lines": [ 8.413333, 8.481818, 8.484048, 8.53871 ] }, { "date": "2026-03-13", "close": 8.0, "volume": 16384, "typical_volume": 18955.3, "trend": 8.61, "fair_value": 9.110397, "relative_strength": -19.337814, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -66.339463, "energy": 56.634862, "activity_lines": [ 8.25, 8.389091, 8.436667, 8.496237 ] }, { "date": "2026-03-20", "close": 8.0, "volume": 12328, "typical_volume": 19277.25, "trend": 8.57, "fair_value": 9.082192, "relative_strength": -17.052761, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -67.917449, "energy": 68.471158, "activity_lines": [ 8.133333, 8.308182, 8.393571, 8.456882 ] }, { "date": "2026-03-27", "close": 7.8, "volume": 5461, "typical_volume": 19197.65, "trend": 8.53, "fair_value": 9.053345, "relative_strength": -18.928868, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -76.650639, "energy": 74.990278, "activity_lines": [ 8.0, 8.2, 8.335952, 8.407204 ] }, { "date": "2026-04-03", "close": 7.7, "volume": 6674, "typical_volume": 19273.05, "trend": 8.486667, "fair_value": 9.022576, "relative_strength": -22.660088, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -77.678876, "energy": 80.11545, "activity_lines": [ 7.873333, 8.082727, 8.273095, 8.353656 ] }, { "date": "2026-04-10", "close": 7.7, "volume": 8620, "typical_volume": 19640.3, "trend": 8.443333, "fair_value": 8.991807, "relative_strength": -24.623519, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -72.629381, "energy": 79.970494, "activity_lines": [ 7.78, 7.98, 8.21381, 8.302903 ] }, { "date": "2026-04-17", "close": 7.85, "volume": 11512, "typical_volume": 18946.3, "trend": 8.406667, "fair_value": 8.963281, "relative_strength": -23.618089, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -64.507434, "energy": 71.007871, "activity_lines": [ 7.783333, 7.922727, 8.172143, 8.264624 ] }, { "date": "2026-04-24", "close": 8.1, "volume": 7665, "typical_volume": 17683.15, "trend": 8.39, "fair_value": 8.935717, "relative_strength": -17.042714, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -60.210066, "energy": 46.168279, "activity_lines": [ 7.88, 7.926364, 8.15381, 8.244839 ] }, { "date": "2026-05-01", "close": 8.05, "volume": 13298, "typical_volume": 17858.7, "trend": 8.37, "fair_value": 8.907833, "relative_strength": -17.390107, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -44.627125, "energy": 30.790028, "activity_lines": [ 7.953333, 7.932727, 8.128571, 8.222903 ] }, { "date": "2026-05-08", "close": 8.1, "volume": 27677, "typical_volume": 13367.25, "trend": 8.336667, "fair_value": 8.88155, "relative_strength": -16.796295, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -36.883784, "energy": 19.336328, "activity_lines": [ 8.026667, 7.954545, 8.108095, 8.205484 ] }, { "date": "2026-05-15", "close": 7.9, "volume": 11055, "typical_volume": 13429.4, "trend": 8.305, "fair_value": 8.861038, "relative_strength": -17.060958, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -38.631308, "energy": 20.288029, "activity_lines": [ 8.006667, 7.941818, 8.072857, 8.177312 ] }, { "date": "2026-05-22", "close": 7.6, "volume": 15018, "typical_volume": 13410.1, "trend": 8.261667, "fair_value": 8.839243, "relative_strength": -21.154843, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -65.947281, "energy": 35.324254, "activity_lines": [ 7.873333, 7.883636, 8.014286, 8.131828 ] }, { "date": "2026-05-29", "close": 7.75, "volume": 23963, "typical_volume": 14122.4, "trend": 8.221667, "fair_value": 8.823538, "relative_strength": -20.602354, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -57.352813, "energy": 37.204195, "activity_lines": [ 7.806667, 7.86, 7.975, 8.098817 ] }, { "date": "2026-06-05", "close": 7.5, "volume": 937, "typical_volume": 14024.25, "trend": 8.181667, "fair_value": 8.805589, "relative_strength": -22.403456, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -71.188609, "energy": 64.298495, "activity_lines": [ 7.68, 7.795455, 7.915476, 8.052258 ] }, { "date": "2026-06-12", "close": 7.0, "volume": 123, "typical_volume": 13258.05, "trend": 8.133333, "fair_value": 8.783153, "relative_strength": -28.442624, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -87.21239, "energy": 84.257418, "activity_lines": [ 7.423333, 7.645455, 7.812143, 7.976022 ] }, { "date": "2026-06-19", "close": 7.05, "volume": 2148, "typical_volume": 13066.8, "trend": 8.088333, "fair_value": 8.761038, "relative_strength": -29.340401, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -82.148494, "energy": 88.706192, "activity_lines": [ 7.256667, 7.517273, 7.720714, 7.906129 ] }, { "date": "2026-06-26", "close": 7.05, "volume": 34, "typical_volume": 12421.75, "trend": 8.065, "fair_value": 8.738922, "relative_strength": -28.877551, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -76.329678, "energy": 90.098845, "activity_lines": [ 7.146667, 7.400909, 7.637143, 7.83914 ] }, { "date": "2026-07-03", "close": 6.7, "volume": 1093, "typical_volume": 10653.4, "trend": 8.033333, "fair_value": 8.717768, "relative_strength": -33.071194, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -86.366249, "energy": 94.013951, "activity_lines": [ 6.956667, 7.235455, 7.528095, 7.751075 ] }, { "date": "2026-07-10", "close": 7.05, "volume": 9871, "typical_volume": 10092.25, "trend": 8.0, "fair_value": 8.702063, "relative_strength": -27.140877, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -66.823542, "energy": 81.770391, "activity_lines": [ 6.953333, 7.159091, 7.462143, 7.687634 ] }, { "date": "2026-07-17", "close": 6.8, "volume": 4128, "typical_volume": 9892.1, "trend": 7.926667, "fair_value": 8.683153, "relative_strength": -28.311322, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -73.412811, "energy": 70.372098, "activity_lines": [ 6.896667, 7.055455, 7.37881, 7.610215 ] }, { "date": "2026-07-24", "close": 6.7, "volume": 10009, "typical_volume": 9399.9, "trend": 7.85, "fair_value": 8.663922, "relative_strength": -29.873309, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -74.442803, "energy": 65.285835, "activity_lines": [ 6.82, 6.957273, 7.292619, 7.531075 ] }, { "date": "2026-07-31", "close": 6.55, "volume": 11359, "typical_volume": 9148.65, "trend": 7.78, "fair_value": 8.644371, "relative_strength": -31.279584, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -77.21624, "energy": 66.183278, "activity_lines": [ 6.716667, 6.853636, 7.200238, 7.447204 ] }, { "date": "2026-08-07", "close": 6.5, "volume": 9209, "typical_volume": 8992.7, "trend": 7.713333, "fair_value": 8.62514, "relative_strength": -32.317586, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -76.208852, "energy": 73.677597, "activity_lines": [ 6.63, 6.76, 7.11, 7.364624 ] } ], "method": { "price_basis": "completed market observations", "trend": "Trend provides the primary directional reference.", "fair_value": "Fair Value provides long-term price context and is not a forecast or target.", "relative_strength": "Relative Strength shows leadership or lagging performance against the market benchmark.", "classification": "The SM framework combines Trend, Activity, Fair Value, Relative Strength and participation into a structural read." } } }