{ "ticker": { "uuid": "0818320e-05b3-4da5-86ce-3871e578c84e", "symbol": "FUTY", "name": "FIDELITY COVINGTON TRUST MSCI UTILS INDEX ETF", "exchange": "NYSEARCA", "country": "US", "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": "SPY", "stage": 3, "stage_name": "Distribution", "phase": "3c", "phase_label": "Stage 3C \u00b7 Breakdown watch", "transition": "stage_3_to_4_watch", "transition_label": "Stage 3 \u2192 4 watch", "confidence": 96.0, "architecture_regime": "balance", "architecture_regime_label": "Balance", "architecture_modifier": "Upper balance after advance", "architecture_gate": "mixed", "architecture_direction": -28.802, "architecture_energy": 18.864, "architecture_maturity": 28.265, "architecture_confidence": 74.008, "architecture_tenure": "Established", "architecture": { "interpretation": { "headline": "Directional pressure has compressed into balance.", "body": "Trend and Activity are compressed into balance, so neither side has durable control. Prior structure and the next directional change provide context; balance alone is not assumed to be a base." }, "scores": { "balance": 58.18, "rotation_up": 26.94, "upward_expansion": 17.15, "deceleration": 48.68, "rotation_down": 44.9, "downward_expansion": 38.15 }, "activity_lines": [ 57.587333, 57.989555, 58.020043, 58.144485 ], "activity_state": "Compressed", "activity_direction": "Stable", "rotation_direction": "Weakening", "price_acceptance": 0.0 }, "latest_close": 56.36, "trend_reference": 58.002461, "distance_from_trend": -0.028317, "trend_direction": "Improving", "fair_value": 48.319776, "distance_from_fair_value": 0.166396, "fair_value_direction": "Weakening", "relative_strength": -11.690976, "relative_strength_direction": "Weakening", "price_momentum": 0.017753, "excess_performance": -0.107872, "evidence": [ { "label": "Price vs Trend", "positive": false, "value": -0.028317, "read": "Below" }, { "label": "Trend direction", "positive": true, "value": 0.015304, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.166396, "read": "Premium" }, { "label": "Fair Value direction", "positive": false, "value": -0.062847, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.11691, "read": "Lagging" }, { "label": "Relative strength direction", "positive": false, "value": -0.040313, "read": "Weakening" }, { "label": "Price momentum", "positive": true, "value": 0.017753, "read": "Positive" }, { "label": "Volume balance", "positive": false, "value": 0.540872, "read": "Supply-led" } ], "volume": { "latest": 3233427, "relative_activity": 1.823317, "balance": 0.540872, "dry_up": 1.097078, "accumulation_observations": 1, "distribution_observations": 2 }, "risk": { "range_context": 0.034522, "annualized_volatility": 0.183004, "from_high_reference": -0.075984, "from_low_reference": 0.087644 }, "levels": { "trend_reference": 58.002461, "fair_value_reference": 48.319776, "structural_low": 55.051395, "invalidation": "A decisive breakout above range resistance with renewed RS leadership invalidates the distribution reading; a range-low break confirms deterioration." }, "outcomes": [ { "horizon": "Near term", "sample_count": 18, "median_return": 0.013967, "positive_rate": 0.666667, "directional_follow_through": 0.666667, "median_excess_return": -0.002907, "regime_survival": 0.5, "best_return": 0.116964, "worst_return": -0.051472, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 8, "median_return": 0.013548, "positive_rate": 0.625, "directional_follow_through": 0.625, "median_excess_return": -0.031517, "regime_survival": 0.125, "best_return": 0.104311, "worst_return": -0.081765, "sufficient": true }, { "horizon": "Extended", "sample_count": 6, "median_return": 0.057144, "positive_rate": 0.833333, "directional_follow_through": 0.833333, "median_excess_return": -0.038432, "regime_survival": 0.166667, "best_return": 0.125901, "worst_return": -0.018129, "sufficient": true }, { "horizon": "Full cycle", "sample_count": 4, "median_return": 0.171452, "positive_rate": 1.0, "directional_follow_through": 1.0, "median_excess_return": 0.010005, "regime_survival": 0.0, "best_return": 0.301114, "worst_return": 0.015519, "sufficient": false } ], "ledger": [ { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2024-03-22", "end": "2024-06-28", "tenure": "Established", "return": 0.074078, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2024-07-05", "end": "2024-07-26", "tenure": "New", "return": 0.043449, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2024-08-02", "end": "2024-11-08", "tenure": "Established", "return": 0.069085, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2024-11-15", "end": "2024-11-29", "tenure": "New", "return": 0.046872, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2024-12-06", "end": "2024-12-13", "tenure": "New", "return": -0.025726, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2024-12-20", "end": "2025-02-28", "tenure": "Developing", "return": 0.048156, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-03-07", "end": "2025-05-16", "tenure": "Developing", "return": 0.068001, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-05-23", "end": "2025-11-21", "tenure": "Extended", "return": 0.10562, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2025-11-28", "end": "2026-01-30", "tenure": "Developing", "return": -0.036205, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-02-06", "end": "2026-02-06", "tenure": "New", "return": 0.0, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-02-13", "end": "2026-03-27", "tenure": "Developing", "return": -0.015204, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2026-04-03", "end": "2026-04-17", "tenure": "New", "return": -0.002678, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-04-24", "end": "2026-05-08", "tenure": "New", "return": -0.030176, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-05-15", "end": "2026-08-07", "tenure": "Established", "return": 0.001112, "active": true } ], "chart_path": [ { "date": "2023-08-18", "close": 37.372111, "volume": 1592622, "typical_volume": 1110910.25, "trend": 39.257345, "fair_value": 38.128831, "relative_strength": -13.368128, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -65.246493, "energy": 58.115493, "activity_lines": [ 38.153212, 38.588081, 38.856655, 39.051184 ] }, { "date": "2023-08-25", "close": 37.408696, "volume": 795150, "typical_volume": 1109445.9, "trend": 39.161973, "fair_value": 38.164473, "relative_strength": -13.57017, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -64.620944, "energy": 67.801678, "activity_lines": [ 37.738576, 38.339299, 38.680626, 38.931916 ] }, { "date": "2023-09-01", "close": 36.942231, "volume": 859454, "typical_volume": 1053813.9, "trend": 39.06516, "fair_value": 38.196748, "relative_strength": -16.301605, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -70.034446, "energy": 72.317061, "activity_lines": [ 37.368452, 38.042624, 38.477031, 38.788707 ] }, { "date": "2023-09-08", "close": 37.189183, "volume": 686277, "typical_volume": 1043244.55, "trend": 38.983482, "fair_value": 38.232861, "relative_strength": -14.216056, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -64.558826, "energy": 69.423415, "activity_lines": [ 37.253818, 37.816957, 38.313398, 38.667676 ] }, { "date": "2023-09-15", "close": 38.198944, "volume": 1306175, "typical_volume": 1073701.35, "trend": 38.921956, "fair_value": 38.276568, "relative_strength": -11.320061, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -58.202343, "energy": 47.504979, "activity_lines": [ 37.517843, 37.801824, 38.263276, 38.617061 ] }, { "date": "2023-09-22", "close": 37.506599, "volume": 854465, "typical_volume": 1083575.55, "trend": 38.873671, "fair_value": 38.313617, "relative_strength": -9.829146, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -57.153239, "energy": 36.915297, "activity_lines": [ 37.545965, 37.667562, 38.157674, 38.525748 ] }, { "date": "2023-09-29", "close": 35.004929, "volume": 2301075, "typical_volume": 1173127.3, "trend": 38.749501, "fair_value": 38.327918, "relative_strength": -14.831739, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -82.834237, "energy": 52.058772, "activity_lines": [ 36.731231, 37.113755, 37.827574, 38.276151 ] }, { "date": "2023-10-06", "close": 33.98949, "volume": 2257233, "typical_volume": 1241792.85, "trend": 38.627503, "fair_value": 38.326182, "relative_strength": -17.302609, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -85.849944, "energy": 74.409545, "activity_lines": [ 35.738269, 36.473574, 37.426391, 37.969054 ] }, { "date": "2023-10-13", "close": 35.143398, "volume": 3805124, "typical_volume": 1385681.55, "trend": 38.497233, "fair_value": 38.330327, "relative_strength": -14.525831, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -68.236742, "energy": 77.461912, "activity_lines": [ 35.326792, 36.144108, 37.157738, 37.744273 ] }, { "date": "2023-10-20", "close": 34.432591, "volume": 8495932, "typical_volume": 1773316.65, "trend": 38.3581, "fair_value": 38.326885, "relative_strength": -13.895205, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -73.039784, "energy": 84.34102, "activity_lines": [ 34.814765, 35.734076, 36.834725, 37.482038 ] }, { "date": "2023-10-27", "close": 34.774147, "volume": 2221983, "typical_volume": 1846882.3, "trend": 38.191007, "fair_value": 38.334401, "relative_strength": -10.501503, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -65.835259, "energy": 77.755181, "activity_lines": [ 34.66768, 35.453226, 36.562733, 37.250815 ] }, { "date": "2023-11-03", "close": 36.694249, "volume": 1799905, "typical_volume": 1835269.6, "trend": 38.049177, "fair_value": 38.348163, "relative_strength": -10.404672, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -59.655892, "energy": 45.56836, "activity_lines": [ 35.342793, 35.568722, 36.493804, 37.15425 ] }, { "date": "2023-11-10", "close": 35.632654, "volume": 2009427, "typical_volume": 1898773.8, "trend": 37.890423, "fair_value": 38.346891, "relative_strength": -13.818641, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -46.089862, "energy": 34.365852, "activity_lines": [ 35.551419, 35.504191, 36.336841, 36.998345 ] }, { "date": "2023-11-17", "close": 36.878874, "volume": 1213051, "typical_volume": 1917607.1, "trend": 37.758682, "fair_value": 38.361728, "relative_strength": -12.449314, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -36.99323, "energy": 20.568051, "activity_lines": [ 36.065908, 35.690056, 36.31164, 36.933084 ] }, { "date": "2023-11-24", "close": 37.063499, "volume": 841760, "typical_volume": 1933302.65, "trend": 37.647623, "fair_value": 38.376395, "relative_strength": -12.475879, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -24.707652, "energy": 22.155763, "activity_lines": [ 36.52624, 35.915131, 36.312556, 36.888234 ] }, { "date": "2023-12-01", "close": 37.617375, "volume": 1637008, "typical_volume": 1977085.95, "trend": 37.555026, "fair_value": 38.398998, "relative_strength": -11.524148, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -10.499027, "energy": 17.047542, "activity_lines": [ 36.995803, 36.261555, 36.373398, 36.886282 ] }, { "date": "2023-12-08", "close": 37.571218, "volume": 1087401, "typical_volume": 1828452.1, "trend": 37.461194, "fair_value": 38.422062, "relative_strength": -11.397333, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": 0.078367, "energy": 17.415029, "activity_lines": [ 37.260433, 36.597572, 36.438562, 36.887327 ] }, { "date": "2023-12-15", "close": 37.952469, "volume": 1710249, "typical_volume": 1869448.95, "trend": 37.43485, "fair_value": 38.44704, "relative_strength": -12.100477, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 22.907388, "energy": 26.944351, "activity_lines": [ 37.593681, 36.956249, 36.553547, 36.919022 ] }, { "date": "2023-12-22", "close": 37.627056, "volume": 1581398, "typical_volume": 1905668.55, "trend": 37.424292, "fair_value": 38.47184, "relative_strength": -13.102085, "stage": 4, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 17.941793, "energy": 25.316119, "activity_lines": [ 37.663804, 37.183705, 36.6451, 36.931422 ] }, { "date": "2023-12-29", "close": 37.989659, "volume": 987481, "typical_volume": 1902158.5, "trend": 37.413413, "fair_value": 38.494112, "relative_strength": -12.033673, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 23.98492, "energy": 37.007964, "activity_lines": [ 37.804916, 37.431931, 36.772107, 36.967898 ] }, { "date": "2024-01-05", "close": 38.5847, "volume": 881293, "typical_volume": 1866592.05, "trend": 37.399064, "fair_value": 38.52058, "relative_strength": -8.746167, "stage": 4, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 32.115026, "energy": 44.25055, "activity_lines": [ 38.082631, 37.723673, 36.956414, 37.043465 ] }, { "date": "2024-01-12", "close": 37.887387, "volume": 2458253, "typical_volume": 1949747.2, "trend": 37.347337, "fair_value": 38.540452, "relative_strength": -11.541567, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 20.361519, "energy": 29.260277, "activity_lines": [ 38.06342, 37.819348, 37.068537, 37.074969 ] }, { "date": "2024-01-19", "close": 36.502056, "volume": 1119349, "typical_volume": 1962741.95, "trend": 37.284798, "fair_value": 38.55237, "relative_strength": -15.286445, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 2.830564, "energy": 9.887728, "activity_lines": [ 37.561353, 37.641451, 37.046444, 37.020435 ] }, { "date": "2024-01-26", "close": 36.641519, "volume": 1125390, "typical_volume": 1984697.6, "trend": 37.217152, "fair_value": 38.567854, "relative_strength": -15.364963, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -2.66772, "energy": 6.103593, "activity_lines": [ 37.202469, 37.473104, 37.039729, 36.978933 ] }, { "date": "2024-02-02", "close": 36.846065, "volume": 1322460, "typical_volume": 1985511.85, "trend": 37.159678, "fair_value": 38.579142, "relative_strength": -15.656741, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -5.624607, "energy": 14.229298, "activity_lines": [ 36.97747, 37.346262, 37.055103, 36.954992 ] }, { "date": "2024-02-09", "close": 36.148751, "volume": 1761924, "typical_volume": 2030884.8, "trend": 37.049692, "fair_value": 38.589068, "relative_strength": -17.910306, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -21.78323, "energy": 25.826107, "activity_lines": [ 36.596271, 37.096589, 37.010508, 36.889771 ] }, { "date": "2024-02-16", "close": 36.743792, "volume": 6735891, "typical_volume": 2252625.6, "trend": 36.927528, "fair_value": 38.606407, "relative_strength": -15.792488, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -22.666656, "energy": 23.145354, "activity_lines": [ 36.575817, 36.981808, 37.02905, 36.870036 ] }, { "date": "2024-02-23", "close": 37.115693, "volume": 662370, "typical_volume": 2172882.45, "trend": 36.846724, "fair_value": 38.637416, "relative_strength": -15.842425, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -8.516182, "energy": 12.547042, "activity_lines": [ 36.755569, 36.94969, 37.07473, 36.882175 ] }, { "date": "2024-03-01", "close": 37.069205, "volume": 956860, "typical_volume": 2030469.25, "trend": 36.821688, "fair_value": 38.662948, "relative_strength": -16.303802, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 12.056576, "energy": 9.539157, "activity_lines": [ 36.878916, 36.924333, 37.101097, 36.896529 ] }, { "date": "2024-03-08", "close": 38.305775, "volume": 1045798, "typical_volume": 1657962.55, "trend": 36.827811, "fair_value": 38.686919, "relative_strength": -12.851275, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 49.486187, "energy": 27.503926, "activity_lines": [ 37.385941, 37.13395, 37.236061, 36.992276 ] }, { "date": "2024-03-15", "close": 38.087283, "volume": 792432, "typical_volume": 1586485.0, "trend": 36.85165, "fair_value": 38.71058, "relative_strength": -12.774937, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 48.58615, "energy": 42.483407, "activity_lines": [ 37.722821, 37.298093, 37.331773, 37.073533 ] }, { "date": "2024-03-22", "close": 38.716127, "volume": 854320, "typical_volume": 1539205.75, "trend": 36.895231, "fair_value": 38.732227, "relative_strength": -12.787156, "stage": 4, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 68.859822, "energy": 64.608784, "activity_lines": [ 38.14008, 37.585616, 37.471598, 37.193821 ] }, { "date": "2024-03-29", "close": 39.814257, "volume": 448791, "typical_volume": 1461173.95, "trend": 36.990965, "fair_value": 38.759484, "relative_strength": -10.176381, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 81.150344, "energy": 78.507293, "activity_lines": [ 38.791893, 38.05773, 37.706379, 37.382146 ] }, { "date": "2024-04-05", "close": 39.560842, "volume": 545736, "typical_volume": 1427808.2, "trend": 37.07002, "fair_value": 38.782204, "relative_strength": -9.430875, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 72.107194, "energy": 77.835785, "activity_lines": [ 39.179331, 38.423548, 37.897113, 37.547944 ] }, { "date": "2024-04-12", "close": 38.894456, "volume": 513706, "typical_volume": 1411405.5, "trend": 37.093204, "fair_value": 38.792409, "relative_strength": -9.15362, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 63.801317, "energy": 72.038552, "activity_lines": [ 39.17853, 38.615125, 38.01161, 37.66565 ] }, { "date": "2024-04-19", "close": 39.579614, "volume": 591116, "typical_volume": 1359110.9, "trend": 37.162304, "fair_value": 38.809259, "relative_strength": -4.171717, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 68.243485, "energy": 70.165276, "activity_lines": [ 39.366871, 38.894034, 38.182641, 37.826063 ] }, { "date": "2024-04-26", "close": 40.067672, "volume": 668422, "typical_volume": 1338161.95, "trend": 37.331062, "fair_value": 38.829183, "relative_strength": -5.059157, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 71.963853, "energy": 60.125874, "activity_lines": [ 39.618408, 39.1993, 38.390811, 38.013506 ] }, { "date": "2024-05-03", "close": 41.550617, "volume": 521456, "typical_volume": 1278722.3, "trend": 37.5831, "fair_value": 38.860591, "relative_strength": -1.717743, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 85.18819, "energy": 71.071937, "activity_lines": [ 40.274158, 39.713759, 38.728325, 38.285736 ] }, { "date": "2024-05-10", "close": 43.193119, "volume": 1070920, "typical_volume": 1253198.4, "trend": 37.851424, "fair_value": 38.903188, "relative_strength": 0.683279, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 91.369196, "energy": 91.517948, "activity_lines": [ 41.361651, 40.44622, 39.205134, 38.647672 ] }, { "date": "2024-05-17", "close": 43.812577, "volume": 961184, "typical_volume": 1251883.55, "trend": 38.16409, "fair_value": 38.949316, "relative_strength": 0.728554, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 89.389714, "energy": 95.141647, "activity_lines": [ 42.413478, 41.179966, 39.714433, 39.032263 ] }, { "date": "2024-05-24", "close": 43.240048, "volume": 761174, "typical_volume": 1245877.6, "trend": 38.446287, "fair_value": 38.994961, "relative_strength": -0.353001, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 74.810438, "energy": 90.284928, "activity_lines": [ 42.946587, 41.709492, 40.141478, 39.359744 ] }, { "date": "2024-05-31", "close": 43.953363, "volume": 887336, "typical_volume": 1167331.75, "trend": 38.688257, "fair_value": 39.044189, "relative_strength": 1.867684, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 77.95247, "energy": 91.249674, "activity_lines": [ 43.47344, 42.275024, 40.61429, 39.715039 ] }, { "date": "2024-06-07", "close": 42.301475, "volume": 632092, "typical_volume": 1142968.9, "trend": 38.910551, "fair_value": 39.079587, "relative_strength": -2.886247, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 67.32428, "energy": 78.003731, "activity_lines": [ 43.190616, 42.444991, 40.900893, 39.94815 ] }, { "date": "2024-06-14", "close": 42.273318, "volume": 526212, "typical_volume": 1113010.0, "trend": 39.090366, "fair_value": 39.122404, "relative_strength": -4.229258, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 63.801606, "energy": 58.529461, "activity_lines": [ 42.84835, 42.564617, 41.157198, 40.165103 ] }, { "date": "2024-06-21", "close": 41.981422, "volume": 376546, "typical_volume": 1065714.3, "trend": 39.254297, "fair_value": 39.161633, "relative_strength": -5.213443, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 50.27235, "energy": 45.476951, "activity_lines": [ 42.470105, 42.581852, 41.358886, 40.351623 ] }, { "date": "2024-06-28", "close": 41.584121, "volume": 851977, "typical_volume": 1020216.95, "trend": 39.386522, "fair_value": 39.198094, "relative_strength": -5.791956, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 42.818895, "energy": 30.783272, "activity_lines": [ 42.081504, 42.470725, 41.498281, 40.501934 ] }, { "date": "2024-07-05", "close": 41.80169, "volume": 576035, "typical_volume": 712224.15, "trend": 39.527538, "fair_value": 39.234122, "relative_strength": -6.772737, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 38.839982, "energy": 25.237127, "activity_lines": [ 41.875821, 42.36271, 41.632515, 40.657751 ] }, { "date": "2024-07-12", "close": 43.494947, "volume": 479478, "typical_volume": 703079.55, "trend": 39.712287, "fair_value": 39.275854, "relative_strength": -3.662633, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 56.901929, "energy": 35.692605, "activity_lines": [ 42.378001, 42.531032, 41.903925, 40.913713 ] }, { "date": "2024-07-19", "close": 42.946294, "volume": 1466983, "typical_volume": 728585.7, "trend": 39.889595, "fair_value": 39.315896, "relative_strength": -2.684233, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 59.385726, "energy": 39.761089, "activity_lines": [ 42.617733, 42.564248, 42.092706, 41.122359 ] }, { "date": "2024-07-26", "close": 43.617921, "volume": 673741, "typical_volume": 709982.85, "trend": 40.077204, "fair_value": 39.359303, "relative_strength": -0.153899, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 68.335023, "energy": 49.983331, "activity_lines": [ 43.036475, 42.724065, 42.317465, 41.362896 ] }, { "date": "2024-08-02", "close": 45.386855, "volume": 1177677, "typical_volume": 729245.1, "trend": 40.303942, "fair_value": 39.408843, "relative_strength": 6.162191, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 83.625981, "energy": 75.391602, "activity_lines": [ 43.935762, 43.209046, 42.685398, 41.705454 ] }, { "date": "2024-08-09", "close": 44.87604, "volume": 1268952, "typical_volume": 749976.7, "trend": 40.536897, "fair_value": 39.451287, "relative_strength": 5.01381, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 73.523159, "energy": 80.221736, "activity_lines": [ 44.411261, 43.562118, 42.969922, 42.000428 ] }, { "date": "2024-08-16", "close": 45.405774, "volume": 1610244, "typical_volume": 808049.35, "trend": 40.833688, "fair_value": 39.49325, "relative_strength": 2.287096, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 77.250621, "energy": 84.965291, "activity_lines": [ 44.858382, 43.99473, 43.275564, 42.314549 ] }, { "date": "2024-08-23", "close": 45.973346, "volume": 548601, "typical_volume": 808192.6, "trend": 41.144749, "fair_value": 39.543448, "relative_strength": 2.233877, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 79.29414, "energy": 88.511771, "activity_lines": [ 45.367305, 44.474095, 43.608635, 42.64614 ] }, { "date": "2024-08-30", "close": 46.465242, "volume": 907410, "typical_volume": 827877.8, "trend": 41.465388, "fair_value": 39.593588, "relative_strength": 3.058397, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 80.187594, "energy": 89.053297, "activity_lines": [ 45.83839, 44.975623, 43.958016, 42.989398 ] }, { "date": "2024-09-06", "close": 46.209834, "volume": 593323, "typical_volume": 827988.15, "trend": 41.800757, "fair_value": 39.645911, "relative_strength": 6.892757, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 72.161263, "energy": 84.1426, "activity_lines": [ 46.034518, 45.349189, 44.247022, 43.295491 ] }, { "date": "2024-09-13", "close": 47.808496, "volume": 884934, "typical_volume": 838813.75, "trend": 42.169581, "fair_value": 39.715626, "relative_strength": 6.381442, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 87.544929, "energy": 90.440432, "activity_lines": [ 46.708667, 45.929316, 44.656709, 43.683087 ] }, { "date": "2024-09-20", "close": 48.693909, "volume": 854986, "typical_volume": 855490.25, "trend": 42.555521, "fair_value": 39.793583, "relative_strength": 6.901051, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 88.492336, "energy": 90.725655, "activity_lines": [ 47.482457, 46.561213, 45.11386, 44.104011 ] }, { "date": "2024-09-27", "close": 49.208381, "volume": 796843, "typical_volume": 841786.4, "trend": 42.960161, "fair_value": 39.879245, "relative_strength": 7.341675, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 86.576182, "energy": 91.924183, "activity_lines": [ 48.208529, 47.192124, 45.585992, 44.533228 ] }, { "date": "2024-10-04", "close": 49.627582, "volume": 1431471, "typical_volume": 865300.75, "trend": 43.337554, "fair_value": 39.963689, "relative_strength": 7.805152, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 83.193025, "energy": 91.795454, "activity_lines": [ 48.858666, 47.785397, 46.069405, 44.963384 ] }, { "date": "2024-10-11", "close": 48.455727, "volume": 5560346, "typical_volume": 1105259.35, "trend": 43.683169, "fair_value": 40.036995, "relative_strength": 4.034611, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 67.981407, "energy": 81.547746, "activity_lines": [ 48.907361, 48.056339, 46.413521, 45.293589 ] }, { "date": "2024-10-18", "close": 50.046782, "volume": 1155814, "typical_volume": 1118683.25, "trend": 44.060857, "fair_value": 40.115592, "relative_strength": 6.45967, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 79.948369, "energy": 74.886231, "activity_lines": [ 49.336682, 48.560766, 46.88433, 45.704145 ] }, { "date": "2024-10-25", "close": 49.103581, "volume": 846699, "typical_volume": 1129413.6, "trend": 44.370502, "fair_value": 40.188867, "relative_strength": 5.480212, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 65.489541, "energy": 64.619596, "activity_lines": [ 49.302384, 48.799689, 47.236295, 46.029482 ] }, { "date": "2024-11-01", "close": 47.77929, "volume": 871471, "typical_volume": 1146676.55, "trend": 44.64445, "fair_value": 40.252147, "relative_strength": 4.120396, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 61.626339, "energy": 56.156378, "activity_lines": [ 48.799344, 48.730598, 47.429745, 46.249404 ] }, { "date": "2024-11-08", "close": 48.522418, "volume": 1691986, "typical_volume": 1212448.55, "trend": 44.965382, "fair_value": 40.321976, "relative_strength": 0.961208, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 49.621136, "energy": 47.338613, "activity_lines": [ 48.639286, 48.763787, 47.66775, 46.499595 ] }, { "date": "2024-11-15", "close": 48.579581, "volume": 692253, "typical_volume": 1204462.35, "trend": 45.265381, "fair_value": 40.38994, "relative_strength": 3.226442, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 44.412924, "energy": 37.243046, "activity_lines": [ 48.571959, 48.769965, 47.880052, 46.732769 ] }, { "date": "2024-11-22", "close": 49.961036, "volume": 590636, "typical_volume": 1205192.4, "trend": 45.59516, "fair_value": 40.468823, "relative_strength": 4.387291, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 61.285978, "energy": 42.948637, "activity_lines": [ 48.956861, 48.984231, 48.190609, 47.035715 ] }, { "date": "2024-11-29", "close": 50.8566, "volume": 594079, "typical_volume": 1210922.45, "trend": 45.905359, "fair_value": 40.551718, "relative_strength": 4.982957, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 76.566919, "energy": 57.0282, "activity_lines": [ 49.646001, 49.322189, 48.547604, 47.375162 ] }, { "date": "2024-12-06", "close": 48.884454, "volume": 674985, "typical_volume": 1171322.55, "trend": 46.09507, "fair_value": 40.6155, "relative_strength": 0.094144, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 57.104278, "energy": 46.667131, "activity_lines": [ 49.560891, 49.262254, 48.68172, 47.567362 ] }, { "date": "2024-12-13", "close": 47.626854, "volume": 868916, "typical_volume": 1181081.3, "trend": 46.222213, "fair_value": 40.668191, "relative_strength": -1.833931, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 50.47939, "energy": 36.450287, "activity_lines": [ 48.982903, 48.979554, 48.667788, 47.666187 ] }, { "date": "2024-12-20", "close": 46.818941, "volume": 1607963, "typical_volume": 1202595.6, "trend": 46.341509, "fair_value": 40.714917, "relative_strength": -1.664522, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 16.585911, "energy": 11.528315, "activity_lines": [ 48.195315, 48.586337, 48.557822, 47.704686 ] }, { "date": "2024-12-27", "close": 46.991633, "volume": 801750, "typical_volume": 1179235.5, "trend": 46.442785, "fair_value": 40.756011, "relative_strength": -1.895849, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -0.635656, "energy": 17.985738, "activity_lines": [ 47.582667, 48.254279, 48.457483, 47.746629 ] }, { "date": "2025-01-03", "close": 47.62484, "volume": 1358797, "typical_volume": 1166663.15, "trend": 46.62023, "fair_value": 40.80532, "relative_strength": 0.013236, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 4.144534, "energy": 21.687762, "activity_lines": [ 47.379048, 48.092897, 48.407375, 47.822891 ] }, { "date": "2025-01-10", "close": 46.62706, "volume": 1011248, "typical_volume": 1189795.5, "trend": 46.765355, "fair_value": 40.851602, "relative_strength": -0.144813, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -7.886603, "energy": 24.356248, "activity_lines": [ 47.058286, 47.776987, 48.251673, 47.823331 ] }, { "date": "2025-01-17", "close": 48.680185, "volume": 1376852, "typical_volume": 1213267.6, "trend": 46.988647, "fair_value": 40.913853, "relative_strength": 1.153837, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 12.390939, "energy": 14.58013, "activity_lines": [ 47.572393, 47.855322, 48.288394, 47.946869 ] }, { "date": "2025-01-24", "close": 49.015977, "volume": 843010, "typical_volume": 1225751.95, "trend": 47.236376, "fair_value": 40.981122, "relative_strength": 0.003926, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 34.755523, "energy": 16.437048, "activity_lines": [ 48.128208, 47.991842, 48.346548, 48.077664 ] }, { "date": "2025-01-31", "close": 48.133325, "volume": 880371, "typical_volume": 1225523.8, "trend": 47.44743, "fair_value": 41.041496, "relative_strength": -0.899489, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 27.756624, "energy": 15.920894, "activity_lines": [ 48.243337, 47.959945, 48.307278, 48.135532 ] }, { "date": "2025-02-07", "close": 48.315612, "volume": 705588, "typical_volume": 1218053.9, "trend": 47.608119, "fair_value": 41.108487, "relative_strength": -0.525111, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 31.672369, "energy": 21.552297, "activity_lines": [ 48.343115, 47.994422, 48.283821, 48.191544 ] }, { "date": "2025-02-14", "close": 48.872066, "volume": 614554, "typical_volume": 1208939.45, "trend": 47.805645, "fair_value": 41.18174, "relative_strength": -0.986384, "stage": 2, "regime": "deceleration", "modifier": "Re-acceleration watch", "gate": "up", "direction": 38.549951, "energy": 23.290987, "activity_lines": [ 48.582326, 48.176273, 48.315161, 48.273089 ] }, { "date": "2025-02-21", "close": 49.620402, "volume": 524594, "typical_volume": 1163595.6, "trend": 48.005727, "fair_value": 41.254623, "relative_strength": 1.954752, "stage": 2, "regime": "deceleration", "modifier": "Re-acceleration watch", "gate": "up", "direction": 59.049249, "energy": 36.790926, "activity_lines": [ 48.921316, 48.49441, 48.419373, 48.39017 ] }, { "date": "2025-02-28", "close": 49.073541, "volume": 752716, "typical_volume": 923214.1, "trend": 48.128617, "fair_value": 41.312264, "relative_strength": 1.582626, "stage": 2, "regime": "deceleration", "modifier": "Re-acceleration watch", "gate": "up", "direction": 50.871496, "energy": 36.010291, "activity_lines": [ 49.015337, 48.676871, 48.471537, 48.459061 ] }, { "date": "2025-03-07", "close": 47.922256, "volume": 844833, "typical_volume": 907665.05, "trend": 48.230158, "fair_value": 41.364659, "relative_strength": 2.165986, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 28.106844, "energy": 17.935689, "activity_lines": [ 48.72176, 48.609015, 48.411113, 48.445747 ] }, { "date": "2025-03-14", "close": 48.891254, "volume": 1152518, "typical_volume": 922956.0, "trend": 48.34634, "fair_value": 41.421411, "relative_strength": 6.372366, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 38.228061, "energy": 20.074207, "activity_lines": [ 48.765252, 48.70042, 48.453092, 48.488399 ] }, { "date": "2025-03-21", "close": 48.774207, "volume": 564469, "typical_volume": 907605.9, "trend": 48.439702, "fair_value": 41.469044, "relative_strength": 5.301826, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 27.175095, "energy": 12.302097, "activity_lines": [ 48.731354, 48.747518, 48.484934, 48.516003 ] }, { "date": "2025-03-28", "close": 48.706546, "volume": 688967, "typical_volume": 857454.95, "trend": 48.514412, "fair_value": 41.506458, "relative_strength": 6.466691, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 5.84992, "energy": 4.165362, "activity_lines": [ 48.681425, 48.743275, 48.505594, 48.533219 ] }, { "date": "2025-04-04", "close": 46.58971, "volume": 1113715, "typical_volume": 878528.05, "trend": 48.527075, "fair_value": 41.525665, "relative_strength": 11.604511, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -47.221782, "energy": 25.620713, "activity_lines": [ 47.986808, 48.353674, 48.323774, 48.409044 ] }, { "date": "2025-04-11", "close": 47.720622, "volume": 1936414, "typical_volume": 945816.95, "trend": 48.524146, "fair_value": 41.555741, "relative_strength": 7.869524, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -44.795408, "energy": 28.496558, "activity_lines": [ 47.83475, 48.213806, 48.259136, 48.357015 ] }, { "date": "2025-04-18", "close": 48.629218, "volume": 759504, "typical_volume": 954088.2, "trend": 48.521989, "fair_value": 41.597467, "relative_strength": 11.200696, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -36.31356, "energy": 22.760592, "activity_lines": [ 47.999, 48.246642, 48.291699, 48.363794 ] }, { "date": "2025-04-25", "close": 48.832202, "volume": 960275, "typical_volume": 968352.7, "trend": 48.50945, "fair_value": 41.651353, "relative_strength": 6.533008, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -31.987747, "energy": 16.594429, "activity_lines": [ 48.248381, 48.310682, 48.3542, 48.383808 ] }, { "date": "2025-05-02", "close": 49.789128, "volume": 1254368, "typical_volume": 987625.3, "trend": 48.514835, "fair_value": 41.707866, "relative_strength": 5.396067, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 27.186041, "energy": 16.466043, "activity_lines": [ 48.81287, 48.549433, 48.508087, 48.466368 ] }, { "date": "2025-05-09", "close": 50.02111, "volume": 742750, "typical_volume": 944364.65, "trend": 48.567014, "fair_value": 41.768864, "relative_strength": 6.227137, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 29.935485, "energy": 32.598964, "activity_lines": [ 49.382515, 48.827295, 48.67377, 48.563547 ] }, { "date": "2025-05-16", "close": 51.18102, "volume": 1033306, "typical_volume": 955942.45, "trend": 48.604822, "fair_value": 41.835601, "relative_strength": 3.172948, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 68.593688, "energy": 61.105352, "activity_lines": [ 50.110036, 49.298822, 48.934672, 48.732192 ] }, { "date": "2025-05-23", "close": 50.485074, "volume": 917142, "typical_volume": 933859.7, "trend": 48.650872, "fair_value": 41.884982, "relative_strength": 4.314489, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 60.498676, "energy": 60.931545, "activity_lines": [ 50.374883, 49.584562, 49.109345, 48.853499 ] }, { "date": "2025-05-30", "close": 51.036031, "volume": 830513, "typical_volume": 924822.95, "trend": 48.75943, "fair_value": 41.941005, "relative_strength": 3.561454, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 64.369783, "energy": 63.177923, "activity_lines": [ 50.699657, 49.941498, 49.322869, 49.00738 ] }, { "date": "2025-06-06", "close": 50.543069, "volume": 858709, "typical_volume": 898915.8, "trend": 48.826785, "fair_value": 42.004557, "relative_strength": 0.796177, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 58.516639, "energy": 55.339449, "activity_lines": [ 50.713189, 50.16768, 49.468449, 49.122453 ] }, { "date": "2025-06-13", "close": 50.736388, "volume": 742236, "typical_volume": 893877.1, "trend": 48.898679, "fair_value": 42.092938, "relative_strength": 1.401946, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 55.710837, "energy": 40.287735, "activity_lines": [ 50.740898, 50.39562, 49.62357, 49.245654 ] }, { "date": "2025-06-20", "close": 50.40678, "volume": 583199, "typical_volume": 879018.5, "trend": 48.913537, "fair_value": 42.162865, "relative_strength": 0.749389, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 52.330057, "energy": 32.623443, "activity_lines": [ 50.611053, 50.488237, 49.739108, 49.34295 ] }, { "date": "2025-06-27", "close": 51.020072, "volume": 764898, "typical_volume": 881984.0, "trend": 48.918986, "fair_value": 42.226533, "relative_strength": -1.572209, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 55.270451, "energy": 32.190135, "activity_lines": [ 50.737254, 50.643523, 49.902228, 49.478856 ] }, { "date": "2025-07-04", "close": 51.351055, "volume": 573889, "typical_volume": 879950.75, "trend": 49.001206, "fair_value": 42.29961, "relative_strength": -2.715018, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 59.193207, "energy": 36.203796, "activity_lines": [ 50.938117, 50.815517, 50.083991, 49.635764 ] }, { "date": "2025-07-11", "close": 51.711243, "volume": 909224, "typical_volume": 899182.25, "trend": 49.137352, "fair_value": 42.375109, "relative_strength": -1.858251, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 62.568485, "energy": 46.678251, "activity_lines": [ 51.23804, 51.007202, 50.288254, 49.810605 ] }, { "date": "2025-07-18", "close": 52.57764, "volume": 878833, "typical_volume": 905488.1, "trend": 49.329309, "fair_value": 42.457074, "relative_strength": -0.946805, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 71.561965, "energy": 64.719071, "activity_lines": [ 51.748884, 51.321467, 50.565075, 50.032559 ] }, { "date": "2025-07-25", "close": 53.04491, "volume": 705942, "typical_volume": 898543.55, "trend": 49.531085, "fair_value": 42.525295, "relative_strength": -1.607858, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 74.955417, "energy": 74.617212, "activity_lines": [ 52.292735, 51.674208, 50.869711, 50.272275 ] }, { "date": "2025-08-01", "close": 53.804224, "volume": 900131, "typical_volume": 885924.2, "trend": 49.737064, "fair_value": 42.598155, "relative_strength": 2.262151, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 79.689348, "energy": 80.960446, "activity_lines": [ 52.913815, 52.131116, 51.222269, 50.547961 ] }, { "date": "2025-08-08", "close": 54.076799, "volume": 1276606, "typical_volume": 921531.05, "trend": 49.985389, "fair_value": 42.663311, "relative_strength": 0.294965, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 77.119184, "energy": 82.793791, "activity_lines": [ 53.440143, 52.577236, 51.577391, 50.827944 ] }, { "date": "2025-08-15", "close": 53.75555, "volume": 1179851, "typical_volume": 946075.25, "trend": 50.154568, "fair_value": 42.722992, "relative_strength": -1.284553, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 68.971225, "energy": 81.734905, "activity_lines": [ 53.677672, 52.90966, 51.876668, 51.07118 ] }, { "date": "2025-08-22", "close": 54.057329, "volume": 695850, "typical_volume": 925182.0, "trend": 50.322613, "fair_value": 42.791839, "relative_strength": -1.039835, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 71.306448, "energy": 82.914391, "activity_lines": [ 53.879507, 53.238544, 52.180643, 51.322971 ] }, { "date": "2025-08-29", "close": 53.074114, "volume": 848334, "typical_volume": 870778.0, "trend": 50.487306, "fair_value": 42.858652, "relative_strength": -2.7746, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 64.691827, "energy": 62.413238, "activity_lines": [ 53.654957, 53.328281, 52.355418, 51.500488 ] }, { "date": "2025-09-05", "close": 52.548435, "volume": 939274, "typical_volume": 879766.5, "trend": 50.6284, "fair_value": 42.912474, "relative_strength": -3.945628, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 50.470945, "energy": 42.261586, "activity_lines": [ 53.253234, 53.273943, 52.454636, 51.633464 ] }, { "date": "2025-09-12", "close": 53.75555, "volume": 1148198, "typical_volume": 889162.65, "trend": 50.791183, "fair_value": 42.984134, "relative_strength": -3.163239, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 54.740705, "energy": 39.546685, "activity_lines": [ 53.337603, 53.411292, 52.650154, 51.835215 ] }, { "date": "2025-09-19", "close": 53.670858, "volume": 882315, "typical_volume": 870560.0, "trend": 50.926198, "fair_value": 43.063625, "relative_strength": -4.36826, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 49.88115, "energy": 34.181566, "activity_lines": [ 53.415157, 53.489525, 52.814162, 52.021001 ] }, { "date": "2025-09-26", "close": 55.003808, "volume": 749718, "typical_volume": 870908.4, "trend": 51.123873, "fair_value": 43.174083, "relative_strength": -1.62437, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 75.836961, "energy": 49.688741, "activity_lines": [ 53.942674, 53.774482, 53.086633, 52.284073 ] }, { "date": "2025-10-03", "close": 56.326957, "volume": 982992, "typical_volume": 868392.7, "trend": 51.40403, "fair_value": 43.29916, "relative_strength": -0.2911, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 83.572718, "energy": 71.2209, "activity_lines": [ 54.848142, 54.2559, 53.461391, 52.619755 ] }, { "date": "2025-10-10", "close": 57.140449, "volume": 1034342, "typical_volume": 874252.7, "trend": 51.679003, "fair_value": 43.43467, "relative_strength": 3.58859, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 85.56076, "energy": 87.962915, "activity_lines": [ 55.807918, 54.825553, 53.88912, 52.989847 ] }, { "date": "2025-10-17", "close": 58.061753, "volume": 869861, "typical_volume": 876220.1, "trend": 51.988588, "fair_value": 43.571727, "relative_strength": 3.439929, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 87.264795, "energy": 93.759607, "activity_lines": [ 56.76866, 55.502056, 54.3729, 53.401637 ] }, { "date": "2025-10-24", "close": 57.914737, "volume": 1055165, "typical_volume": 886042.9, "trend": 52.295528, "fair_value": 43.692587, "relative_strength": 1.226045, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 77.363516, "energy": 90.603294, "activity_lines": [ 57.393318, 56.079375, 54.809223, 53.783969 ] }, { "date": "2025-10-31", "close": 56.424968, "volume": 987964, "typical_volume": 898329.3, "trend": 52.62337, "fair_value": 43.805389, "relative_strength": -2.029709, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 66.924623, "energy": 80.935749, "activity_lines": [ 57.23846, 56.310206, 55.06856, 54.050385 ] }, { "date": "2025-11-07", "close": 56.817013, "volume": 1146204, "typical_volume": 926479.55, "trend": 52.926583, "fair_value": 43.916631, "relative_strength": 0.222612, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 64.501269, "energy": 60.002661, "activity_lines": [ 57.11954, 56.56927, 55.338146, 54.320942 ] }, { "date": "2025-11-14", "close": 56.219145, "volume": 893124, "typical_volume": 932890.85, "trend": 53.17958, "fair_value": 44.021117, "relative_strength": -0.967558, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 59.624312, "energy": 48.703169, "activity_lines": [ 56.768661, 56.651577, 55.520267, 54.533366 ] }, { "date": "2025-11-21", "close": 55.8173, "volume": 965367, "typical_volume": 952464.75, "trend": 53.412417, "fair_value": 44.11494, "relative_strength": 0.254128, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 43.524079, "energy": 31.696407, "activity_lines": [ 56.345253, 56.594082, 55.639359, 54.703541 ] }, { "date": "2025-11-28", "close": 57.385477, "volume": 733335, "typical_volume": 943670.3, "trend": 53.665629, "fair_value": 44.219217, "relative_strength": -0.570417, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 52.512745, "energy": 35.376602, "activity_lines": [ 56.594201, 56.784224, 55.886534, 54.959868 ] }, { "date": "2025-12-05", "close": 54.895996, "volume": 1197057, "typical_volume": 959581.5, "trend": 53.828125, "fair_value": 44.308281, "relative_strength": -5.173924, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 32.608874, "energy": 18.909991, "activity_lines": [ 56.048606, 56.454194, 55.869596, 55.039246 ] }, { "date": "2025-12-12", "close": 54.366736, "volume": 1370424, "typical_volume": 992805.6, "trend": 53.934315, "fair_value": 44.395702, "relative_strength": -5.546054, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 16.451312, "energy": 15.973393, "activity_lines": [ 55.428523, 56.029895, 55.791212, 55.073995 ] }, { "date": "2025-12-19", "close": 54.04526, "volume": 1413165, "typical_volume": 1018457.3, "trend": 54.052988, "fair_value": 44.47731, "relative_strength": -6.202543, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -2.193257, "energy": 14.232661, "activity_lines": [ 54.864632, 55.582786, 55.675917, 55.081153 ] }, { "date": "2025-12-26", "close": 54.62724, "volume": 896027, "typical_volume": 999428.35, "trend": 54.172695, "fair_value": 44.56438, "relative_strength": -6.511167, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 2.454262, "energy": 20.841607, "activity_lines": [ 54.639661, 55.297768, 55.6149, 55.118202 ] }, { "date": "2026-01-02", "close": 55.100716, "volume": 1019341, "typical_volume": 991402.85, "trend": 54.324617, "fair_value": 44.652292, "relative_strength": -4.699256, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 2.411815, "energy": 19.142886, "activity_lines": [ 54.651853, 55.161283, 55.596356, 55.178074 ] }, { "date": "2026-01-09", "close": 54.400366, "volume": 1921823, "typical_volume": 1052701.5, "trend": 54.446749, "fair_value": 44.734156, "relative_strength": -7.327429, "stage": 3, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "up", "direction": -2.644694, "energy": 17.39224, "activity_lines": [ 54.582911, 54.948625, 55.504706, 55.182961 ] }, { "date": "2026-01-16", "close": 55.564327, "volume": 1604030, "typical_volume": 1090486.3, "trend": 54.618668, "fair_value": 44.831562, "relative_strength": -4.969802, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 8.521526, "energy": 8.964032, "activity_lines": [ 54.934999, 54.984407, 55.522275, 55.255063 ] }, { "date": "2026-01-23", "close": 54.499007, "volume": 1411032, "typical_volume": 1114074.2, "trend": 54.734632, "fair_value": 44.922775, "relative_strength": -6.41007, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 10.993564, "energy": 8.795717, "activity_lines": [ 54.852141, 54.849271, 55.426528, 55.247343 ] }, { "date": "2026-01-30", "close": 55.307861, "volume": 1103183, "typical_volume": 1111823.45, "trend": 54.866526, "fair_value": 45.021885, "relative_strength": -5.375853, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 19.567833, "energy": 9.990944, "activity_lines": [ 55.008651, 54.892474, 55.398526, 55.284325 ] }, { "date": "2026-02-06", "close": 55.37691, "volume": 1359740, "typical_volume": 1135694.7, "trend": 54.988715, "fair_value": 45.122766, "relative_strength": -5.04701, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 6.971072, "energy": 7.862094, "activity_lines": [ 55.142802, 54.957494, 55.369708, 55.317253 ] }, { "date": "2026-02-13", "close": 59.233763, "volume": 1722674, "typical_volume": 1184342.5, "trend": 55.210585, "fair_value": 45.245773, "relative_strength": 2.752197, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 74.053231, "energy": 50.138626, "activity_lines": [ 56.544159, 55.76028, 55.700085, 55.591127 ] }, { "date": "2026-02-20", "close": 58.987161, "volume": 1364597, "typical_volume": 1203422.75, "trend": 55.40866, "fair_value": 45.374183, "relative_strength": 1.141273, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 76.284402, "energy": 71.542904, "activity_lines": [ 57.541088, 56.43936, 55.986834, 55.834777 ] }, { "date": "2026-02-27", "close": 60.604869, "volume": 1112372, "typical_volume": 1207324.25, "trend": 55.635348, "fair_value": 45.514406, "relative_strength": 4.322565, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 83.582829, "energy": 85.412016, "activity_lines": [ 58.849064, 57.328562, 56.414983, 56.170017 ] }, { "date": "2026-03-06", "close": 59.361996, "volume": 1565505, "typical_volume": 1242106.45, "trend": 55.811522, "fair_value": 45.65359, "relative_strength": 4.154457, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 67.182295, "energy": 82.352236, "activity_lines": [ 59.335692, 57.872521, 56.708265, 56.410446 ] }, { "date": "2026-03-13", "close": 59.618461, "volume": 1286413, "typical_volume": 1253668.85, "trend": 56.006952, "fair_value": 45.785429, "relative_strength": 6.146759, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 66.409691, "energy": 80.851952, "activity_lines": [ 59.637532, 58.377023, 57.019781, 56.656055 ] }, { "date": "2026-03-20", "close": 56.714478, "volume": 1809590, "typical_volume": 1294750.15, "trend": 56.095524, "fair_value": 45.901505, "relative_strength": 2.82825, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 60.320815, "energy": 48.35489, "activity_lines": [ 58.688608, 58.271388, 57.046614, 56.701701 ] }, { "date": "2026-03-27", "close": 58.333189, "volume": 1221114, "typical_volume": 1298495.65, "trend": 56.270826, "fair_value": 46.020391, "relative_strength": 8.096799, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 53.880834, "energy": 33.893112, "activity_lines": [ 58.447207, 58.417989, 57.226232, 56.846067 ] }, { "date": "2026-04-03", "close": 59.336195, "volume": 1706168, "typical_volume": 1339147.85, "trend": 56.497085, "fair_value": 46.138257, "relative_strength": 6.377595, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 50.755642, "energy": 30.266703, "activity_lines": [ 58.583739, 58.696612, 57.494154, 57.043833 ] }, { "date": "2026-04-10", "close": 60.100862, "volume": 1223205, "typical_volume": 1352039.75, "trend": 56.708595, "fair_value": 46.264575, "relative_strength": 4.047028, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 64.32984, "energy": 35.441363, "activity_lines": [ 59.059738, 59.026316, 57.820058, 57.276334 ] }, { "date": "2026-04-17", "close": 59.177303, "volume": 3861107, "typical_volume": 1508428.35, "trend": 56.892143, "fair_value": 46.382179, "relative_strength": -1.75327, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 53.658195, "energy": 36.829738, "activity_lines": [ 59.178627, 59.100955, 58.037607, 57.435606 ] }, { "date": "2026-04-24", "close": 59.236887, "volume": 3082954, "typical_volume": 1602723.2, "trend": 57.033246, "fair_value": 46.502958, "relative_strength": -2.02835, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 53.445112, "energy": 38.962921, "activity_lines": [ 59.346787, 59.117329, 58.252298, 57.58688 ] }, { "date": "2026-05-01", "close": 59.614255, "volume": 1164745, "typical_volume": 1592439.25, "trend": 57.142823, "fair_value": 46.626157, "relative_strength": -2.18602, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 55.301954, "energy": 36.700995, "activity_lines": [ 59.472577, 59.202259, 58.482257, 57.753396 ] }, { "date": "2026-05-08", "close": 57.449353, "volume": 1635666, "typical_volume": 1603564.3, "trend": 57.153119, "fair_value": 46.735536, "relative_strength": -7.659674, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 32.84373, "energy": 18.440426, "activity_lines": [ 58.791328, 58.882169, 58.481048, 57.773172 ] }, { "date": "2026-05-15", "close": 56.297387, "volume": 1871085, "typical_volume": 1652317.2, "trend": 57.094307, "fair_value": 46.848066, "relative_strength": -9.474819, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 10.06972, "energy": 11.696446, "activity_lines": [ 57.851879, 58.410003, 58.353917, 57.717964 ] }, { "date": "2026-05-22", "close": 58.223951, "volume": 1331565, "typical_volume": 1667928.4, "trend": 57.104614, "fair_value": 46.978067, "relative_strength": -6.974749, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 13.171126, "energy": 14.099812, "activity_lines": [ 57.808184, 58.343842, 58.402315, 57.790844 ] }, { "date": "2026-05-29", "close": 57.131569, "volume": 1286231, "typical_volume": 1636148.8, "trend": 57.128168, "fair_value": 47.098679, "relative_strength": -9.778752, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 3.853705, "energy": 15.939324, "activity_lines": [ 57.463918, 58.104421, 58.331805, 57.792583 ] }, { "date": "2026-06-05", "close": 56.992539, "volume": 1533601, "typical_volume": 1632627.35, "trend": 57.134019, "fair_value": 47.213919, "relative_strength": -7.517192, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 2.48378, "energy": 15.186044, "activity_lines": [ 57.213663, 57.832138, 58.235048, 57.783833 ] }, { "date": "2026-06-12", "close": 57.1415, "volume": 1790762, "typical_volume": 1651613.85, "trend": 57.164764, "fair_value": 47.327395, "relative_strength": -7.610732, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 3.18065, "energy": 16.525663, "activity_lines": [ 57.187843, 57.611314, 58.145676, 57.784316 ] }, { "date": "2026-06-19", "close": 57.5, "volume": 1375342, "typical_volume": 1665221.8, "trend": 57.220854, "fair_value": 47.449971, "relative_strength": -7.70123, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 4.505609, "energy": 16.896737, "activity_lines": [ 57.302047, 57.495576, 58.077864, 57.805944 ] }, { "date": "2026-06-26", "close": 59.51, "volume": 1614476, "typical_volume": 1677958.6, "trend": 57.291671, "fair_value": 47.583555, "relative_strength": -2.097971, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 38.629245, "energy": 16.417308, "activity_lines": [ 58.006076, 57.792581, 58.191042, 57.953631 ] }, { "date": "2026-07-03", "close": 58.98, "volume": 1317171, "typical_volume": 1657683.45, "trend": 57.427805, "fair_value": 47.714386, "relative_strength": -4.942975, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 36.135538, "energy": 21.290946, "activity_lines": [ 58.447703, 57.987173, 58.234063, 58.062555 ] }, { "date": "2026-07-10", "close": 58.53, "volume": 1670194, "typical_volume": 1672963.3, "trend": 57.56658, "fair_value": 47.836704, "relative_strength": -6.803251, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 33.115138, "energy": 23.205172, "activity_lines": [ 58.6161, 58.104617, 58.235434, 58.133664 ] }, { "date": "2026-07-17", "close": 58.28, "volume": 1352515, "typical_volume": 1684970.45, "trend": 57.707738, "fair_value": 47.951264, "relative_strength": -5.6082, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 34.933809, "energy": 23.927506, "activity_lines": [ 58.598667, 58.196321, 58.215173, 58.179692 ] }, { "date": "2026-07-24", "close": 59.52, "volume": 1460189, "typical_volume": 1679704.65, "trend": 57.87083, "fair_value": 48.079342, "relative_strength": -2.949473, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 55.206, "energy": 35.290238, "activity_lines": [ 58.918667, 58.498376, 58.324078, 58.296612 ] }, { "date": "2026-07-31", "close": 57.09, "volume": 1735998, "typical_volume": 1702183.9, "trend": 57.93714, "fair_value": 48.202866, "relative_strength": -7.684177, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 8.879212, "energy": 4.780441, "activity_lines": [ 58.294, 58.300021, 58.200803, 58.246235 ] }, { "date": "2026-08-07", "close": 56.36, "volume": 3233427, "typical_volume": 1773375.75, "trend": 58.002461, "fair_value": 48.319776, "relative_strength": -11.690976, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -28.80222, "energy": 18.864259, "activity_lines": [ 57.587333, 57.989555, 58.020043, 58.144485 ] } ], "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." } } }