{ "ticker": { "uuid": "080f9311-b657-442c-a36d-f57ded56b0b9", "symbol": "200A", "name": "NEXT FUNDS Nikkei Semiconductor Stock Index Exchange Traded Fun", "exchange": "JPX", "country": "JP", "assetType": "etf" }, "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": "^N225", "stage": 2, "stage_name": "Advancing", "phase": "2b", "phase_label": "Stage 2B \u00b7 Advancing", "transition": "stage_2_healthy", "transition_label": "Stage 2 trend intact", "confidence": 96.0, "architecture_regime": "deceleration", "architecture_regime_label": "Deceleration", "architecture_modifier": "Recompressing", "architecture_gate": "up", "architecture_direction": 10.403, "architecture_energy": 25.78, "architecture_maturity": 63.616, "architecture_confidence": 70.998, "architecture_tenure": "New", "architecture": { "interpretation": { "headline": "The upward structure remains, but its energy is decelerating.", "body": "Trend remains positive, but Activity or price acceptance is losing strength. This can become a healthy recompression, a re-acceleration, or a Rotation Down." }, "scores": { "balance": 54.99, "rotation_up": 14.53, "upward_expansion": 52.58, "deceleration": 94.0, "rotation_down": 46.24, "downward_expansion": 23.25 }, "activity_lines": [ 4446.6, 4892.381818, 4808.445175, 4472.784837 ], "activity_state": "Compressed", "activity_direction": "Contracting", "rotation_direction": "Weakening", "price_acceptance": -0.333333 }, "latest_close": 4254.0, "trend_reference": 4021.92994, "distance_from_trend": 0.057701, "trend_direction": "Improving", "fair_value": 2343.309184, "distance_from_fair_value": 0.815381, "fair_value_direction": "Weakening", "relative_strength": 15.10677, "relative_strength_direction": "Weakening", "price_momentum": 0.432657, "excess_performance": 0.223399, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.057701, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.309013, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.815381, "read": "Premium" }, { "label": "Fair Value direction", "positive": false, "value": -0.310012, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": true, "value": 0.151068, "read": "Leading" }, { "label": "Relative strength direction", "positive": false, "value": -0.266548, "read": "Weakening" }, { "label": "Price momentum", "positive": true, "value": 0.432657, "read": "Positive" }, { "label": "Volume balance", "positive": false, "value": 0.380739, "read": "Supply-led" } ], "volume": { "latest": 22546913, "relative_activity": 2.267334, "balance": 0.380739, "dry_up": 2.401407, "accumulation_observations": 1, "distribution_observations": 5 }, "risk": { "range_context": 0.159633, "annualized_volatility": 0.543563, "from_high_reference": -0.330711, "from_low_reference": 1.644785 }, "levels": { "trend_reference": 4021.92994, "fair_value_reference": 2343.309184, "structural_low": 2780.179701, "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis." }, "outcomes": [ { "horizon": "Near term", "sample_count": 1, "median_return": 0.277234, "positive_rate": 1.0, "directional_follow_through": 1.0, "median_excess_return": 0.156956, "regime_survival": 0.0, "best_return": 0.277234, "worst_return": 0.277234, "sufficient": false }, { "horizon": "Intermediate", "sample_count": 1, "median_return": 0.900706, "positive_rate": 1.0, "directional_follow_through": 1.0, "median_excess_return": 0.587839, "regime_survival": 0.0, "best_return": 0.900706, "worst_return": 0.900706, "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": "2025-12-12", "end": "2026-03-27", "tenure": "Established", "return": 0.292652, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2026-04-03", "end": "2026-04-17", "tenure": "New", "return": 0.205667, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-04-24", "end": "2026-07-24", "tenure": "Established", "return": 0.20448, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2026-07-31", "end": "2026-08-07", "tenure": "New", "return": -0.01505, "active": true } ], "chart_path": [ { "date": "2024-06-07", "close": 1930.556763, "volume": 2289530, "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": "2024-06-14", "close": 2008.638062, "volume": 850243, "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": "2024-06-21", "close": 1985.213623, "volume": 1025018, "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": "2024-06-28", "close": 1997.901733, "volume": 1063183, "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": "2024-07-05", "close": 2061.342529, "volume": 1038638, "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": "2024-07-12", "close": 2061.342529, "volume": 1923829, "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": "2024-07-19", "close": 1892.492188, "volume": 2613392, "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": "2024-07-26", "close": 1664.10498, "volume": 4116046, "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": "2024-08-02", "close": 1595.783813, "volume": 2546561, "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": "2024-08-09", "close": 1543.078979, "volume": 2498716, "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": 1739.258057, "volume": 896177, "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": 1675.816895, "volume": 767195, "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": 1672.889038, "volume": 542314, "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": 1461.093872, "volume": 1166677, "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": 1485.494141, "volume": 1043547, "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": 1523.558716, "volume": 673199, "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": 1664.10498, "volume": 688866, "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": 1588.951782, "volume": 831887, "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": 1624.240112, "volume": 457696, "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": 1581.109863, "volume": 774186, "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": 1542.880859, "volume": 520901, "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": 1596.793701, "volume": 741692, "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": 1658.548096, "volume": 464609, "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": 1593.853027, "volume": 783224, "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": 1595.813477, "volume": 288198, "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": 1534.058838, "volume": 633034, "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": 1569.347046, "volume": 450766, "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": 1576.20874, "volume": 431319, "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": 1543.861206, "volume": 290308, "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": 1610.516724, "volume": 676172, "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": 1590.912231, "volume": 149251, "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": 1688.935181, "volume": 585922, "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": 1617.378418, "volume": 499927, "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": 1705.598999, "volume": 806974, "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": 1630.12146, "volume": 739849, "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": 1642.86438, "volume": 441030, "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": 1658.548096, "volume": 174164, "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": 1720.30249, "volume": 288479, "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": 1543.861206, "volume": 722500, "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": 1472.304443, "volume": 560986, "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": 1516.414795, "volume": 355288, "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": 1521.315918, "volume": 309513, "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": 1469.36377, "volume": 399564, "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": 1238.029663, "volume": 1204879, "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": 1239.020142, "volume": 1119052, "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": 1238.029663, "volume": 443870, "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": 1336.081543, "volume": 876165, "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": 1366.784668, "volume": 416964, "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": 1397.487915, "volume": 309627, "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": 1485.63562, "volume": 387778, "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": 1440.076172, "volume": 226742, "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": 1483.654785, "volume": 387453, "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": 1501.4823, "volume": 228659, "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": 1519.310059, "volume": 633092, "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": 1599.534302, "volume": 715779, "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": 1720.366089, "volume": 912567, "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": 1723.33728, "volume": 602169, "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": 1752.05957, "volume": 561095, "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": 1744.13623, "volume": 709382, "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": 1773.848877, "volume": 842057, "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": 1653.017212, "volume": 1867416, "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": 1647.074585, "volume": 1272495, "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": 1712.442627, "volume": 766362, "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": 1645.09375, "volume": 1261927, "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": 1695.605469, "volume": 671336, "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": 1652.026733, "volume": 530354, "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": 1803.561646, "volume": 1464565, "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": 1942.220947, "volume": 2581280, "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": 1945.192261, "volume": 1909320, "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": 2049.186768, "volume": 1336682, "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": 2147.099121, "volume": 996365, "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": 2112.259766, "volume": 3986046, "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": 2103.301025, "volume": 2614022, "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": 2421.832275, "volume": 4758377, "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": 2266.54834, "volume": 2959929, "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": 2238.676758, "volume": 1474473, "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": 2128.186279, "volume": 3284165, "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": 2228.722656, "volume": 1250945, "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": 2316.318604, "volume": 1307745, "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": 2316.318604, "volume": 1203362, "typical_volume": 1874858.3, "trend": 1876.083036, "fair_value": 1711.754201, "relative_strength": 10.144028, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 67.829018, "energy": 51.187143, "activity_lines": [ 2268.538981, 2252.196214, 2132.760858, 2023.550812 ] }, { "date": "2025-12-19", "close": 2211.800781, "volume": 1053787, "typical_volume": 1834176.85, "trend": 1901.80719, "fair_value": 1717.927615, "relative_strength": 7.758429, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 58.93823, "energy": 47.147599, "activity_lines": [ 2257.257715, 2249.264293, 2152.814811, 2045.210022 ] }, { "date": "2025-12-26", "close": 2394.956055, "volume": 1181394, "typical_volume": 1829621.8, "trend": 1932.183899, "fair_value": 1726.18406, "relative_strength": 13.444142, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 73.263937, "energy": 54.28809, "activity_lines": [ 2308.819938, 2278.456938, 2187.65125, 2077.026077 ] }, { "date": "2026-01-02", "close": 2364.098389, "volume": 412933, "typical_volume": 1811950.35, "trend": 1960.937769, "fair_value": 1733.869775, "relative_strength": 12.527987, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 67.186374, "energy": 52.261236, "activity_lines": [ 2332.311621, 2296.899166, 2215.987523, 2104.891528 ] }, { "date": "2026-01-09", "close": 2568.157471, "volume": 2629398, "typical_volume": 1880323.9, "trend": 1995.899349, "fair_value": 1743.801771, "relative_strength": 18.128756, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 83.301237, "energy": 67.000945, "activity_lines": [ 2414.797949, 2347.701274, 2260.654871, 2144.066993 ] }, { "date": "2026-01-16", "close": 2824.973145, "volume": 1148534, "typical_volume": 1904183.8, "trend": 2036.74731, "fair_value": 1756.521434, "relative_strength": 24.542108, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 91.918956, "energy": 92.081684, "activity_lines": [ 2566.100244, 2442.536683, 2325.385314, 2197.555625 ] }, { "date": "2026-01-23", "close": 2961.344238, "volume": 1813338, "typical_volume": 1968333.0, "trend": 2078.113249, "fair_value": 1770.531002, "relative_strength": 30.040291, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 90.813324, "energy": 95.122067, "activity_lines": [ 2728.949268, 2552.013659, 2397.725538, 2257.20704 ] }, { "date": "2026-01-30", "close": 3031.022949, "volume": 4284940, "typical_volume": 2109351.75, "trend": 2121.702771, "fair_value": 1785.019415, "relative_strength": 33.458361, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 88.581862, "energy": 95.457829, "activity_lines": [ 2865.054964, 2661.020082, 2470.466985, 2318.685085 ] }, { "date": "2026-02-06", "close": 2969.307617, "volume": 4112856, "typical_volume": 2185930.55, "trend": 2162.277706, "fair_value": 1798.477235, "relative_strength": 27.783941, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 73.985091, "energy": 90.464269, "activity_lines": [ 2938.184424, 2742.390323, 2531.485728, 2373.369269 ] }, { "date": "2026-02-13", "close": 3241.054443, "volume": 2079206, "typical_volume": 2194424.85, "trend": 2212.17498, "fair_value": 1814.685968, "relative_strength": 32.030831, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 88.955846, "energy": 95.297419, "activity_lines": [ 3061.548877, 2859.703897, 2613.494231, 2442.967768 ] }, { "date": "2026-02-20", "close": 3190.288574, "volume": 2100931, "typical_volume": 2232637.3, "trend": 2259.389636, "fair_value": 1829.970441, "relative_strength": 29.548073, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 78.129205, "energy": 90.13158, "activity_lines": [ 3123.131575, 2950.973935, 2684.497118, 2506.071871 ] }, { "date": "2026-02-27", "close": 3321.682617, "volume": 1841038, "typical_volume": 2274870.95, "trend": 2315.011816, "fair_value": 1846.362883, "relative_strength": 29.388295, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 82.823813, "energy": 78.948431, "activity_lines": [ 3204.157926, 3050.243435, 2762.579905, 2574.606902 ] }, { "date": "2026-03-06", "close": 3176.352783, "volume": 4707445, "typical_volume": 2310940.9, "trend": 2365.987756, "fair_value": 1860.819295, "relative_strength": 29.926318, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 67.677484, "energy": 66.95036, "activity_lines": [ 3212.718441, 3102.909659, 2821.2285, 2630.177287 ] }, { "date": "2026-03-13", "close": 3074.821045, "volume": 4077326, "typical_volume": 2384106.1, "trend": 2411.40037, "fair_value": 1873.873077, "relative_strength": 29.067422, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 64.446617, "energy": 60.948726, "activity_lines": [ 3177.746387, 3122.908354, 2865.140297, 2675.908466 ] }, { "date": "2026-03-20", "close": 3098.710938, "volume": 2478969, "typical_volume": 2270135.7, "trend": 2459.854277, "fair_value": 1886.903267, "relative_strength": 30.159978, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 61.178297, "energy": 53.580478, "activity_lines": [ 3143.703402, 3134.328436, 2906.701036, 2720.251084 ] }, { "date": "2026-03-27", "close": 2994.192871, "volume": 2289096, "typical_volume": 2236594.05, "trend": 2503.140523, "fair_value": 1898.558947, "relative_strength": 24.879285, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 46.240304, "energy": 38.297064, "activity_lines": [ 3084.310628, 3117.098806, 2935.084441, 2754.724541 ] }, { "date": "2026-04-03", "close": 3004.146973, "volume": 3122412, "typical_volume": 2318991.0, "trend": 2548.211198, "fair_value": 1910.075489, "relative_strength": 24.819711, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 40.508282, "energy": 28.21504, "activity_lines": [ 3041.308936, 3098.602291, 2960.950882, 2787.047538 ] }, { "date": "2026-04-10", "close": 3510.0, "volume": 3213281, "typical_volume": 2315446.8, "trend": 2605.092476, "fair_value": 1926.569556, "relative_strength": 34.684357, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 75.527455, "energy": 47.415751, "activity_lines": [ 3188.093962, 3171.300821, 3031.348706, 2849.098429 ] }, { "date": "2026-04-17", "close": 3622.0, "volume": 4330606, "typical_volume": 2469429.85, "trend": 2661.085112, "fair_value": 1943.869867, "relative_strength": 33.815856, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 77.866949, "energy": 56.705569, "activity_lines": [ 3349.969173, 3255.654315, 3105.833131, 2914.705366 ] }, { "date": "2026-04-24", "close": 3795.0, "volume": 4071043, "typical_volume": 2607594.75, "trend": 2722.745369, "fair_value": 1962.568151, "relative_strength": 35.820784, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 82.081905, "energy": 81.236714, "activity_lines": [ 3533.032454, 3359.595219, 3190.159093, 2987.861165 ] }, { "date": "2026-05-01", "close": 3837.0, "volume": 2768896, "typical_volume": 2685871.45, "trend": 2782.339144, "fair_value": 1981.312469, "relative_strength": 36.260063, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 78.723182, "energy": 90.709861, "activity_lines": [ 3683.676465, 3461.10075, 3271.443714, 3059.74856 ] }, { "date": "2026-05-08", "close": 4259.0, "volume": 2631861, "typical_volume": 2764775.15, "trend": 2852.73584, "fair_value": 2003.863831, "relative_strength": 41.76162, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 89.493837, "energy": 95.030436, "activity_lines": [ 3918.8, 3627.575164, 3385.677472, 3155.017003 ] }, { "date": "2026-05-15", "close": 4099.0, "volume": 6023704, "typical_volume": 3006890.65, "trend": 2918.960514, "fair_value": 2024.404382, "relative_strength": 37.818163, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 75.200977, "energy": 89.319422, "activity_lines": [ 4016.933333, 3747.916535, 3474.924566, 3235.421142 ] }, { "date": "2026-05-22", "close": 4410.0, "volume": 9683102, "typical_volume": 3470399.1, "trend": 2995.85048, "fair_value": 2047.565504, "relative_strength": 42.016296, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 83.891986, "energy": 89.74604, "activity_lines": [ 4179.466667, 3908.027956, 3585.676214, 3331.617238 ] }, { "date": "2026-05-29", "close": 4721.0, "volume": 9131662, "typical_volume": 3795512.3, "trend": 3072.489404, "fair_value": 2073.271605, "relative_strength": 43.372244, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 88.22426, "energy": 88.822112, "activity_lines": [ 4393.133333, 4100.408851, 3716.30452, 3442.917207 ] }, { "date": "2026-06-05", "close": 5170.0, "volume": 3771763, "typical_volume": 3926673.75, "trend": 3169.271126, "fair_value": 2102.764257, "relative_strength": 54.137654, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 93.036582, "energy": 92.963115, "activity_lines": [ 4694.733333, 4344.929945, 3879.4431, 3578.240471 ] }, { "date": "2026-06-12", "close": 5348.0, "volume": 5173907, "typical_volume": 4094702.2, "trend": 3272.915234, "fair_value": 2133.379688, "relative_strength": 58.347034, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 90.958651, "energy": 96.088785, "activity_lines": [ 4966.8, 4582.254545, 4048.367267, 3718.803624 ] }, { "date": "2026-06-19", "close": 6299.0, "volume": 5018283, "typical_volume": 4131369.35, "trend": 3411.942358, "fair_value": 2172.310719, "relative_strength": 69.829718, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 97.463946, "energy": 98.719389, "activity_lines": [ 5483.266667, 4949.872727, 4296.497834, 3914.0349 ] }, { "date": "2026-06-26", "close": 5881.0, "volume": 16153757, "typical_volume": 4733414.4, "trend": 3533.684937, "fair_value": 2206.650435, "relative_strength": 60.393432, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 78.857518, "energy": 91.970913, "activity_lines": [ 5713.733333, 5190.781818, 4489.257082, 4073.328941 ] }, { "date": "2026-07-03", "close": 5710.0, "volume": 6303597, "typical_volume": 4944633.95, "trend": 3646.80765, "fair_value": 2238.791256, "relative_strength": 52.730411, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 68.342328, "energy": 77.720896, "activity_lines": [ 5789.133333, 5359.527273, 4651.865415, 4213.736364 ] }, { "date": "2026-07-10", "close": 5490.0, "volume": 19677172, "typical_volume": 5823446.0, "trend": 3752.59703, "fair_value": 2268.3477, "relative_strength": 47.492616, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 66.616734, "energy": 67.076764, "activity_lines": [ 5725.266667, 5453.454545, 4781.764482, 4332.652 ] }, { "date": "2026-07-17", "close": 4475.0, "volume": 22171084, "typical_volume": 6839948.3, "trend": 3828.037004, "fair_value": 2288.22745, "relative_strength": 27.331164, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 50.914596, "energy": 47.259405, "activity_lines": [ 5301.733333, 5332.781818, 4804.045876, 4379.258643 ] }, { "date": "2026-07-24", "close": 4571.0, "volume": 15879534, "typical_volume": 7398552.75, "trend": 3900.571802, "fair_value": 2308.609348, "relative_strength": 27.861928, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 40.452945, "energy": 26.441091, "activity_lines": [ 4968.4, 5225.636364, 4829.97814, 4427.19174 ] }, { "date": "2026-07-31", "close": 4319.0, "volume": 34923148, "typical_volume": 8940843.85, "trend": 3965.735189, "fair_value": 2326.400415, "relative_strength": 20.169968, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 22.673556, "energy": 27.038407, "activity_lines": [ 4666.266667, 5064.090909, 4825.269227, 4454.187107 ] }, { "date": "2026-08-07", "close": 4254.0, "volume": 22546913, "typical_volume": 9944241.05, "trend": 4021.92994, "fair_value": 2343.309184, "relative_strength": 15.10677, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 10.402743, "energy": 25.779808, "activity_lines": [ 4446.6, 4892.381818, 4808.445175, 4472.784837 ] } ], "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." } } }