{ "ticker": { "uuid": "05e31d1d-b6e7-4fbd-aec5-25d0c4de6c74", "symbol": "ADV", "name": "Adventure S.p.A.", "exchange": "MIL", "country": "IT", "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": "FTSEMIB.MI", "stage": 4, "stage_name": "Declining", "phase": "4a", "phase_label": "Stage 4A \u00b7 Breakdown", "transition": "stage_4_declining", "transition_label": "Stage 4 decline intact", "confidence": 96.0, "architecture_regime": "downward_expansion", "architecture_regime_label": "Downward Expansion", "architecture_modifier": "Early contraction", "architecture_gate": "down", "architecture_direction": -49.274, "architecture_energy": 41.087, "architecture_maturity": 62.415, "architecture_confidence": 61.26, "architecture_tenure": "Developing", "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": 28.21, "rotation_up": 24.63, "upward_expansion": 17.76, "deceleration": 66.95, "rotation_down": 44.59, "downward_expansion": 67.76 }, "activity_lines": [ 14.57, 14.494545, 17.442857, 18.747527 ], "activity_state": "Wide", "activity_direction": "Contracting", "rotation_direction": "Improving", "price_acceptance": -0.5 }, "latest_close": 18.0, "trend_reference": 20.248333, "distance_from_trend": -0.111038, "trend_direction": "Weakening", "fair_value": 18.333043, "distance_from_fair_value": -0.018166, "fair_value_direction": "Weakening", "relative_strength": -18.582431, "relative_strength_direction": "Weakening", "price_momentum": -0.142857, "excess_performance": -0.313749, "evidence": [ { "label": "Price vs Trend", "positive": false, "value": -0.111038, "read": "Below" }, { "label": "Trend direction", "positive": false, "value": -0.060547, "read": "Falling" }, { "label": "Price vs current Fair Value", "positive": false, "value": -0.018166, "read": "Below anchor" }, { "label": "Fair Value direction", "positive": false, "value": -0.426617, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.185824, "read": "Lagging" }, { "label": "Relative strength direction", "positive": false, "value": -0.380749, "read": "Weakening" }, { "label": "Price momentum", "positive": false, "value": -0.142857, "read": "Negative" }, { "label": "Volume balance", "positive": false, "value": 0.708135, "read": "Supply-led" } ], "volume": { "latest": 33148, "relative_activity": 1.489533, "balance": 0.708135, "dry_up": 2.334159, "accumulation_observations": 3, "distribution_observations": 3 }, "risk": { "range_context": 0.177564, "annualized_volatility": 1.179967, "from_high_reference": -0.366197, "from_low_reference": 1.25 }, "levels": { "trend_reference": 20.248333, "fair_value_reference": 18.333043, "structural_low": 8.0, "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": 1, "median_return": 0.32, "positive_rate": 1.0, "directional_follow_through": 0.0, "median_excess_return": 0.33223, "regime_survival": 1.0, "best_return": 0.32, "worst_return": 0.32, "sufficient": false }, { "horizon": "Intermediate", "sample_count": 0, "median_return": null, "positive_rate": null, "directional_follow_through": null, "median_excess_return": null, "regime_survival": null, "best_return": null, "worst_return": null, "sufficient": false }, { "horizon": "Extended", "sample_count": 0, "median_return": null, "positive_rate": null, "directional_follow_through": null, "median_excess_return": null, "regime_survival": null, "best_return": null, "worst_return": null, "sufficient": false }, { "horizon": "Full cycle", "sample_count": 0, "median_return": null, "positive_rate": null, "directional_follow_through": null, "median_excess_return": null, "regime_survival": null, "best_return": null, "worst_return": null, "sufficient": false } ], "ledger": [ { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-02-13", "end": "2026-03-13", "tenure": "Developing", "return": -0.181818, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2026-03-20", "end": "2026-05-01", "tenure": "Developing", "return": 0.356522, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-05-08", "end": "2026-06-05", "tenure": "Developing", "return": -0.153846, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-06-12", "end": "2026-06-26", "tenure": "New", "return": -0.142857, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2026-07-03", "end": "2026-08-07", "tenure": "Developing", "return": 0.8, "active": true } ], "chart_path": [ { "date": "2024-08-09", "close": 4.6895, "volume": 36000, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-08-16", "close": 5.9, "volume": 72000, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-08-23", "close": 6.3, "volume": 24000, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-08-30", "close": 7.04, "volume": 24000, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-09-06", "close": 7.8, "volume": 15000, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-09-13", "close": 9.9, "volume": 125000, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-09-20", "close": 11.94, "volume": 58000, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-09-27", "close": 14.4, "volume": 100000, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-10-04", "close": 16.0, "volume": 83000, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-10-11", "close": 19.1, "volume": 79000, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-10-18", "close": 22.799999, "volume": 145500, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-10-25", "close": 16.0, "volume": 77500, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-01", "close": 18.4, "volume": 73500, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-08", "close": 18.4, "volume": 38000, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-15", "close": 17.0, "volume": 70000, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-22", "close": 17.0, "volume": 49500, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-29", "close": 18.5, "volume": 30000, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-12-06", "close": 19.0, "volume": 24500, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-12-13", "close": 19.4, "volume": 14000, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-12-20", "close": 19.9, "volume": 21000, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-12-27", "close": 20.200001, "volume": 5500, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-03", "close": 21.0, "volume": 2500, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-10", "close": 20.6, "volume": 9500, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-17", "close": 21.0, "volume": 11000, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-24", "close": 20.799999, "volume": 21000, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-31", "close": 20.6, "volume": 24000, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-02-07", "close": 21.0, "volume": 17500, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-02-14", "close": 22.200001, "volume": 23500, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-02-21", "close": 23.0, "volume": 24500, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-02-28", "close": 20.200001, "volume": 24500, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-03-07", "close": 20.4, "volume": 40000, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-03-14", "close": 20.6, "volume": 36000, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-03-21", "close": 20.6, "volume": 22500, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-03-28", "close": 19.0, "volume": 30500, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-04-04", "close": 20.799999, "volume": 8500, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-04-11", "close": 18.75, "volume": 44500, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-04-18", "close": 19.200001, "volume": 8500, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-04-25", "close": 19.9, "volume": 6000, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-02", "close": 20.0, "volume": 8000, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-09", "close": 20.4, "volume": 4500, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-16", "close": 20.4, "volume": 10000, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-23", "close": 19.450001, "volume": 33000, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-30", "close": 19.25, "volume": 19000, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-06-06", "close": 18.700001, "volume": 14500, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-06-13", "close": 18.25, "volume": 17000, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-06-20", "close": 18.65, "volume": 10500, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-06-27", "close": 18.299999, "volume": 35500, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-07-04", "close": 18.25, "volume": 15000, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-07-11", "close": 17.950001, "volume": 9500, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-07-18", "close": 18.0, "volume": 18000, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-07-25", "close": 18.0, "volume": 17000, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-01", "close": 17.0, "volume": 21000, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-08", "close": 17.799999, "volume": 13500, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-15", "close": 15.45, "volume": 10500, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-22", "close": 16.5, "volume": 13500, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-29", "close": 16.0, "volume": 37500, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-09-05", "close": 15.85, "volume": 9500, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-09-12", "close": 15.9, "volume": 16000, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-09-19", "close": 13.0, "volume": 35500, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-09-26", "close": 12.0, "volume": 71500, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-10-03", "close": 15.15, "volume": 22500, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-10-10", "close": 14.7, "volume": 22000, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-10-17", "close": 14.9, "volume": 28500, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-10-24", "close": 15.85, "volume": 2500, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-10-31", "close": 16.1, "volume": 33000, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-11-07", "close": 16.0, "volume": 8500, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-11-14", "close": 15.7, "volume": 28000, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-11-21", "close": 16.35, "volume": 14500, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-11-28", "close": 18.450001, "volume": 31500, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-12-05", "close": 20.700001, "volume": 8500, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-12-12", "close": 21.700001, "volume": 23000, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-12-19", "close": 21.6, "volume": 9000, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-12-26", "close": 22.0, "volume": 1000, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-01-02", "close": 21.9, "volume": 2500, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-01-09", "close": 22.0, "volume": 4000, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-01-16", "close": 23.0, "volume": 7000, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-01-23", "close": 22.0, "volume": 39500, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-01-30", "close": 23.0, "volume": 3824, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-02-06", "close": 21.0, "volume": 25355, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-02-13", "close": 24.200001, "volume": 12408, "typical_volume": 16354.35, "trend": 18.126667, "fair_value": 17.883994, "relative_strength": 17.107769, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 77.885082, "energy": 56.881375, "activity_lines": [ 22.733334, 22.463637, 20.96381, 19.540323 ] }, { "date": "2026-02-20", "close": 25.0, "volume": 15152, "typical_volume": 15986.95, "trend": 18.36, "fair_value": 17.971846, "relative_strength": 18.570757, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 78.471111, "energy": 60.158476, "activity_lines": [ 23.52, 22.965455, 21.505238, 19.983764 ] }, { "date": "2026-02-27", "close": 23.200001, "volume": 26504, "typical_volume": 16212.15, "trend": 18.566667, "fair_value": 18.035604, "relative_strength": 8.459127, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 59.940411, "energy": 50.585549, "activity_lines": [ 23.573334, 23.08, 21.828334, 20.296022 ] }, { "date": "2026-03-06", "close": 19.75, "volume": 22088, "typical_volume": 15891.55, "trend": 18.631667, "fair_value": 18.056259, "relative_strength": -0.93288, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 37.296186, "energy": 31.444464, "activity_lines": [ 22.396667, 22.538182, 21.782381, 20.372366 ] }, { "date": "2026-03-13", "close": 19.799999, "volume": 14305, "typical_volume": 16481.8, "trend": 18.776667, "fair_value": 18.077018, "relative_strength": -0.687518, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 25.367435, "energy": 14.739801, "activity_lines": [ 21.453333, 22.046364, 21.718095, 20.447742 ] }, { "date": "2026-03-20", "close": 17.25, "volume": 9596, "typical_volume": 15311.6, "trend": 18.801667, "fair_value": 18.067288, "relative_strength": -10.015734, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -11.614868, "energy": 22.897922, "activity_lines": [ 19.74, 21.129091, 21.392143, 20.349247 ] }, { "date": "2026-03-27", "close": 18.700001, "volume": 10832, "typical_volume": 15428.2, "trend": 18.891667, "fair_value": 18.074645, "relative_strength": -3.415186, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -2.347613, "energy": 24.522624, "activity_lines": [ 18.973334, 20.561818, 21.19881, 20.342688 ] }, { "date": "2026-04-03", "close": 21.9, "volume": 10941, "typical_volume": 14575.25, "trend": 19.093334, "fair_value": 18.118615, "relative_strength": 8.104818, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 9.176937, "energy": 18.708309, "activity_lines": [ 19.693333, 20.654546, 21.297381, 20.536774 ] }, { "date": "2026-04-10", "close": 25.200001, "volume": 8059, "typical_volume": 14253.2, "trend": 19.403334, "fair_value": 18.199085, "relative_strength": 19.322893, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 45.661215, "energy": 18.16369, "activity_lines": [ 21.6, 21.349091, 21.680715, 20.930753 ] }, { "date": "2026-04-17", "close": 24.4, "volume": 27151, "typical_volume": 14035.75, "trend": 19.783334, "fair_value": 18.268759, "relative_strength": 12.723792, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 46.563884, "energy": 31.455697, "activity_lines": [ 22.876667, 21.858182, 21.945715, 21.253119 ] }, { "date": "2026-04-24", "close": 23.0, "volume": 6853, "typical_volume": 13953.4, "trend": 20.15, "fair_value": 18.321328, "relative_strength": 9.198598, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 49.465118, "energy": 37.370674, "activity_lines": [ 23.38, 22.050909, 22.049048, 21.460645 ] }, { "date": "2026-05-01", "close": 23.4, "volume": 10722, "typical_volume": 13339.5, "trend": 20.425, "fair_value": 18.377137, "relative_strength": 9.915077, "stage": 2, "regime": "deceleration", "modifier": "Re-acceleration watch", "gate": "up", "direction": 51.422156, "energy": 41.953639, "activity_lines": [ 23.633333, 22.338182, 22.179524, 21.670323 ] }, { "date": "2026-05-08", "close": 26.0, "volume": 10002, "typical_volume": 13389.6, "trend": 20.801667, "fair_value": 18.459995, "relative_strength": 19.492518, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 65.583761, "energy": 58.156635, "activity_lines": [ 24.44, 23.127273, 22.549524, 22.03 ] }, { "date": "2026-05-15", "close": 26.0, "volume": 13689, "typical_volume": 14024.05, "trend": 21.171667, "fair_value": 18.54107, "relative_strength": 19.77189, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 63.067655, "energy": 53.119218, "activity_lines": [ 24.973333, 23.865455, 22.898572, 22.365377 ] }, { "date": "2026-05-22", "close": 21.799999, "volume": 34770, "typical_volume": 15637.55, "trend": 21.37, "fair_value": 18.575739, "relative_strength": -0.149362, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 44.627394, "energy": 28.067426, "activity_lines": [ 24.053333, 23.726364, 22.828571, 22.405914 ] }, { "date": "2026-05-29", "close": 21.6, "volume": 4084, "typical_volume": 15641.75, "trend": 21.553334, "fair_value": 18.607574, "relative_strength": -1.897836, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 27.564594, "energy": 17.325084, "activity_lines": [ 23.24, 23.514545, 22.74, 22.420753 ] }, { "date": "2026-06-05", "close": 22.0, "volume": 2690, "typical_volume": 15426.25, "trend": 21.753334, "fair_value": 18.642912, "relative_strength": 0.293272, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 23.100809, "energy": 13.417782, "activity_lines": [ 22.653333, 23.296364, 22.691429, 22.44957 ] }, { "date": "2026-06-12", "close": 21.0, "volume": 4873, "typical_volume": 13694.9, "trend": 21.93, "fair_value": 18.667211, "relative_strength": -7.023928, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -6.966663, "energy": 16.811483, "activity_lines": [ 21.826667, 22.836364, 22.552381, 22.400968 ] }, { "date": "2026-06-19", "close": 19.299999, "volume": 1513, "typical_volume": 13579.35, "trend": 22.028333, "fair_value": 18.673668, "relative_strength": -16.332301, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -29.549555, "energy": 32.744111, "activity_lines": [ 20.766666, 22.083636, 22.25619, 22.23129 ] }, { "date": "2026-06-26", "close": 18.0, "volume": 6721, "typical_volume": 12647.65, "trend": 22.013333, "fair_value": 18.666864, "relative_strength": -19.167439, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -74.301959, "energy": 65.457943, "activity_lines": [ 19.72, 21.201818, 21.853809, 21.971398 ] }, { "date": "2026-07-03", "close": 10.0, "volume": 11800, "typical_volume": 12617.25, "trend": 21.656667, "fair_value": 18.580195, "relative_strength": -55.88441, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -95.301008, "energy": 90.16423, "activity_lines": [ 16.26, 18.981818, 20.703809, 21.196344 ] }, { "date": "2026-07-10", "close": 9.75, "volume": 72602, "typical_volume": 15489.75, "trend": 21.258333, "fair_value": 18.492767, "relative_strength": -56.305617, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -93.058174, "energy": 96.780502, "activity_lines": [ 13.49, 16.952727, 19.597619, 20.428172 ] }, { "date": "2026-07-17", "close": 12.0, "volume": 63828, "typical_volume": 17355.95, "trend": 20.938333, "fair_value": 18.429113, "relative_strength": -44.926083, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -71.971189, "energy": 89.617593, "activity_lines": [ 12.286667, 15.580909, 18.778333, 19.83086 ] }, { "date": "2026-07-24", "close": 14.0, "volume": 44118, "typical_volume": 18457.45, "trend": 20.671667, "fair_value": 18.386112, "relative_strength": -35.137849, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -68.031016, "energy": 88.008222, "activity_lines": [ 12.35, 14.827273, 18.202857, 19.383226 ] }, { "date": "2026-07-31", "close": 13.2, "volume": 66683, "typical_volume": 21076.35, "trend": 20.381667, "fair_value": 18.336245, "relative_strength": -38.791534, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -65.672836, "energy": 80.257675, "activity_lines": [ 12.5, 14.146364, 17.578571, 18.901183 ] }, { "date": "2026-08-07", "close": 18.0, "volume": 33148, "typical_volume": 22253.95, "trend": 20.248333, "fair_value": 18.333043, "relative_strength": -18.582431, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -49.274102, "energy": 41.086613, "activity_lines": [ 14.57, 14.494545, 17.442857, 18.747527 ] } ], "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." } } }