{ "ticker": { "uuid": "0b6c4457-b8ca-4b04-a292-16e57f6f99b0", "symbol": "9626", "name": "Bilibili Inc.", "exchange": "HKG", "country": "HK", "assetType": "equity" }, "methodBoundary": "Trend Architecture is a weekly structural classification, not a forecast, probability of return, recommendation or execution signal. Confidence measures geometric agreement and external confirmation only.", "analysis": { "eligible": true, "as_of": "2026-08-28", "benchmark": "^HSI", "stage": 4, "stage_name": "Declining", "phase": "4b", "phase_label": "Stage 4B \u00b7 Declining", "transition": "stage_4_declining", "transition_label": "Stage 4 decline intact", "confidence": 96.0, "architecture_regime": "downward_expansion", "architecture_regime_label": "Downward Expansion", "architecture_modifier": "Established contraction", "architecture_gate": "down", "architecture_direction": -68.371, "architecture_energy": 52.142, "architecture_maturity": 85.523, "architecture_confidence": 94.135, "architecture_tenure": "Established", "architecture": { "interpretation": { "headline": "The weekly architecture is expanding downward.", "body": "Trend and Activity show sustained negative alignment with weak price acceptance. Repair requires persistent improvement across the structure, not merely one strong observation." }, "scores": { "balance": 19.51, "rotation_up": 27.62, "upward_expansion": 7.39, "deceleration": 58.27, "rotation_down": 52.18, "downward_expansion": 80.72 }, "activity_lines": [ 135.319999, 137.074543, 139.559046, 149.162579 ], "activity_state": "Moderate", "activity_direction": "Contracting", "rotation_direction": "Improving", "price_acceptance": -0.666667 }, "latest_close": 131.800003, "trend_reference": 166.616666, "distance_from_trend": -0.208963, "trend_direction": "Weakening", "fair_value": 148.646475, "distance_from_fair_value": -0.113332, "fair_value_direction": "Weakening", "relative_strength": -28.929288, "relative_strength_direction": "Improving", "price_momentum": -0.404159, "excess_performance": -0.36489, "evidence": [ { "label": "Price vs Trend", "positive": false, "value": -0.208963, "read": "Below" }, { "label": "Trend direction", "positive": false, "value": -0.144034, "read": "Falling" }, { "label": "Price vs current Fair Value", "positive": false, "value": -0.113332, "read": "Below anchor" }, { "label": "Fair Value direction", "positive": false, "value": -0.036031, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.289293, "read": "Lagging" }, { "label": "Relative strength direction", "positive": true, "value": 0.001688, "read": "Improving" }, { "label": "Price momentum", "positive": false, "value": -0.404159, "read": "Negative" }, { "label": "Volume balance", "positive": false, "value": 0.44232, "read": "Supply-led" } ], "volume": { "latest": 24395682, "relative_activity": 1.814145, "balance": 0.44232, "dry_up": 1.238174, "accumulation_observations": 1, "distribution_observations": 3 }, "risk": { "range_context": 0.077565, "annualized_volatility": 0.439707, "from_high_reference": -0.538515, "from_low_reference": 0.060338 }, "levels": { "trend_reference": 166.616666, "fair_value_reference": 148.646475, "structural_low": 124.300003, "invalidation": "Reclaiming a flat-to-rising Trend with improving relative strength is required before the declining diagnosis is repaired." }, "outcomes": [ { "horizon": "Near term", "sample_count": 21, "median_return": -0.015697, "positive_rate": 0.47619, "directional_follow_through": 0.52381, "median_excess_return": 0.006712, "regime_survival": 0.857143, "best_return": 0.570588, "worst_return": -0.324324, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 7, "median_return": -0.103156, "positive_rate": 0.428571, "directional_follow_through": 0.571429, "median_excess_return": -0.041894, "regime_survival": 0.571429, "best_return": 0.748808, "worst_return": -0.243889, "sufficient": true }, { "horizon": "Extended", "sample_count": 4, "median_return": 0.27832, "positive_rate": 0.75, "directional_follow_through": 0.25, "median_excess_return": 0.143071, "regime_survival": 0.25, "best_return": 0.701046, "worst_return": -0.2806, "sufficient": false }, { "horizon": "Full cycle", "sample_count": 3, "median_return": 0.303438, "positive_rate": 0.666667, "directional_follow_through": 0.333333, "median_excess_return": 0.121582, "regime_survival": 0.666667, "best_return": 1.099048, "worst_return": -0.165342, "sufficient": false } ], "ledger": [ { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2024-08-09", "end": "2024-09-27", "tenure": "Developing", "return": 0.485891, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2024-10-04", "end": "2024-11-15", "tenure": "Developing", "return": -0.337114, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2024-11-22", "end": "2025-01-10", "tenure": "Developing", "return": -0.103158, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2025-01-17", "end": "2025-02-28", "tenure": "Developing", "return": 0.161218, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-03-07", "end": "2025-03-21", "tenure": "New", "return": -0.139945, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-03-28", "end": "2025-04-18", "tenure": "New", "return": -0.154948, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-04-25", "end": "2025-05-23", "tenure": "Developing", "return": 0.09417, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-05-30", "end": "2025-06-27", "tenure": "Developing", "return": 0.132563, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-07-04", "end": "2025-11-21", "tenure": "Established", "return": 0.113623, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2025-11-28", "end": "2026-01-16", "tenure": "Developing", "return": 0.25969, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-01-23", "end": "2026-02-27", "tenure": "Developing", "return": -0.157654, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2026-03-06", "end": "2026-03-20", "tenure": "New", "return": -0.029324, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2026-03-27", "end": "2026-04-03", "tenure": "New", "return": -0.005017, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2026-04-10", "end": "2026-08-28", "tenure": "Established", "return": -0.284085, "active": true } ], "chart_path": [ { "date": "2023-09-08", "close": 116.5, "volume": 9540048, "typical_volume": 13532474.05, "trend": 144.373333, "fair_value": 330.621875, "relative_strength": -14.737038, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -59.538788, "energy": 60.785575, "activity_lines": [ 117.613335, 123.129093, 125.99381, 133.42301 ] }, { "date": "2023-09-15", "close": 109.300003, "volume": 15083614, "typical_volume": 13702993.6, "trend": 142.116666, "fair_value": 328.906201, "relative_strength": -19.637695, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -69.730775, "energy": 68.80981, "activity_lines": [ 114.206669, 120.269093, 123.941429, 131.160215 ] }, { "date": "2023-09-22", "close": 107.300003, "volume": 9384198, "typical_volume": 13882646.1, "trend": 140.126666, "fair_value": 327.201538, "relative_strength": -20.338151, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -71.915818, "energy": 71.682974, "activity_lines": [ 111.580002, 117.152729, 121.926668, 128.913979 ] }, { "date": "2023-09-29", "close": 108.300003, "volume": 8272028, "typical_volume": 13906741.55, "trend": 138.106666, "fair_value": 325.530534, "relative_strength": -18.2952, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -66.940622, "energy": 66.044614, "activity_lines": [ 109.926669, 114.694548, 120.23762, 126.860646 ] }, { "date": "2023-10-06", "close": 105.0, "volume": 4868068, "typical_volume": 13729787.8, "trend": 136.696666, "fair_value": 323.859848, "relative_strength": -19.091346, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -69.989054, "energy": 67.507693, "activity_lines": [ 107.680002, 111.892729, 118.410954, 124.724732 ] }, { "date": "2023-10-13", "close": 108.0, "volume": 12086040, "typical_volume": 14054378.05, "trend": 134.306666, "fair_value": 322.236842, "relative_strength": -18.40663, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -62.923914, "energy": 57.471319, "activity_lines": [ 107.253335, 110.227274, 117.04143, 122.873334 ] }, { "date": "2023-10-20", "close": 98.099998, "volume": 10486385, "typical_volume": 13818443.15, "trend": 131.23, "fair_value": 320.564179, "relative_strength": -23.214482, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -75.749704, "energy": 61.602515, "activity_lines": [ 104.093333, 107.418183, 114.85143, 120.53742 ] }, { "date": "2023-10-27", "close": 106.599998, "volume": 10691469, "typical_volume": 13506682.85, "trend": 128.463333, "fair_value": 318.979259, "relative_strength": -17.964924, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -61.318766, "energy": 50.943609, "activity_lines": [ 104.513332, 106.752728, 113.591906, 118.948387 ] }, { "date": "2023-11-03", "close": 113.300003, "volume": 12581977, "typical_volume": 13413323.9, "trend": 126.616666, "fair_value": 317.466911, "relative_strength": -14.373408, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -56.547009, "energy": 40.8943, "activity_lines": [ 107.213333, 107.492728, 113.08143, 117.970108 ] }, { "date": "2023-11-10", "close": 109.300003, "volume": 17620925, "typical_volume": 13775191.15, "trend": 124.673333, "fair_value": 315.947445, "relative_strength": -15.359469, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -43.871794, "energy": 32.709853, "activity_lines": [ 108.246668, 107.552728, 112.333335, 116.852904 ] }, { "date": "2023-11-17", "close": 107.099998, "volume": 14128140, "typical_volume": 13856854.6, "trend": 122.976666, "fair_value": 314.434058, "relative_strength": -18.152948, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -40.955012, "energy": 25.218991, "activity_lines": [ 108.26, 107.358182, 111.42762, 115.71914 ] }, { "date": "2023-11-24", "close": 108.300003, "volume": 10142441, "typical_volume": 13885436.0, "trend": 121.346666, "fair_value": 312.951079, "relative_strength": -17.842057, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -38.109368, "energy": 21.56082, "activity_lines": [ 108.733335, 107.552728, 110.681906, 114.772259 ] }, { "date": "2023-12-01", "close": 87.300003, "volume": 21018341, "typical_volume": 14130918.4, "trend": 119.066667, "fair_value": 311.339285, "relative_strength": -30.554959, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -78.975689, "energy": 49.75589, "activity_lines": [ 101.526669, 103.947274, 107.969049, 112.5757 ] }, { "date": "2023-12-08", "close": 93.449997, "volume": 14050890, "typical_volume": 14412921.85, "trend": 117.335, "fair_value": 309.793971, "relative_strength": -22.578016, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -68.498056, "energy": 63.785374, "activity_lines": [ 97.656667, 101.823637, 106.061906, 110.923011 ] }, { "date": "2023-12-15", "close": 95.449997, "volume": 14132774, "typical_volume": 14016343.35, "trend": 115.816667, "fair_value": 308.284507, "relative_strength": -22.369295, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -62.420529, "energy": 67.740873, "activity_lines": [ 95.776666, 100.333636, 104.483096, 109.511076 ] }, { "date": "2023-12-22", "close": 80.300003, "volume": 18816625, "typical_volume": 13624894.55, "trend": 114.036667, "fair_value": 306.69021, "relative_strength": -32.066514, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -83.15887, "energy": 83.407546, "activity_lines": [ 89.77, 96.262728, 101.661667, 107.219678 ] }, { "date": "2023-12-29", "close": 93.599998, "volume": 10885649, "typical_volume": 13441064.9, "trend": 113.04, "fair_value": 305.210416, "relative_strength": -23.292669, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -61.561675, "energy": 63.694937, "activity_lines": [ 89.983333, 95.113636, 100.410715, 105.901183 ] }, { "date": "2024-01-05", "close": 90.25, "volume": 7719969, "typical_volume": 12881663.25, "trend": 111.718334, "fair_value": 303.727931, "relative_strength": -22.70466, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -60.333234, "energy": 48.150968, "activity_lines": [ 90.059999, 93.437273, 99.01881, 104.430861 ] }, { "date": "2024-01-12", "close": 84.900002, "volume": 11279941, "typical_volume": 12505048.1, "trend": 109.768334, "fair_value": 302.229109, "relative_strength": -25.048278, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -68.261762, "energy": 52.634663, "activity_lines": [ 88.156667, 91.085455, 97.244286, 102.700646 ] }, { "date": "2024-01-19", "close": 74.300003, "volume": 13782916, "typical_volume": 12328621.9, "trend": 108.238334, "fair_value": 300.678571, "relative_strength": -29.566038, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -78.755427, "energy": 57.492132, "activity_lines": [ 83.290001, 87.322728, 94.607858, 100.412366 ] }, { "date": "2024-01-26", "close": 73.349998, "volume": 25870115, "typical_volume": 13145125.25, "trend": 106.793334, "fair_value": 299.142567, "relative_strength": -32.322089, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -75.567621, "energy": 70.307085, "activity_lines": [ 79.516667, 84.023637, 92.085715, 98.161506 ] }, { "date": "2024-02-02", "close": 71.900002, "volume": 16935249, "typical_volume": 13237707.0, "trend": 105.350001, "fair_value": 297.617449, "relative_strength": -30.997809, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -72.536575, "energy": 79.238157, "activity_lines": [ 75.723334, 81.074546, 89.630953, 95.910323 ] }, { "date": "2024-02-09", "close": 76.150002, "volume": 17000320, "typical_volume": 13618513.1, "trend": 103.438334, "fair_value": 296.141, "relative_strength": -27.22123, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -64.12762, "energy": 72.682683, "activity_lines": [ 74.793335, 79.560001, 87.759048, 94.026452 ] }, { "date": "2024-02-16", "close": 81.849998, "volume": 4157816, "typical_volume": 13412802.5, "trend": 102.086668, "fair_value": 294.721854, "relative_strength": -23.835486, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -61.845802, "energy": 51.555592, "activity_lines": [ 76.703334, 79.284546, 86.578334, 92.633656 ] }, { "date": "2024-02-23", "close": 80.650002, "volume": 13245452, "typical_volume": 13831671.7, "trend": 100.191668, "fair_value": 293.313487, "relative_strength": -25.92031, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -57.43938, "energy": 43.046706, "activity_lines": [ 78.416667, 79.001819, 85.409286, 91.250646 ] }, { "date": "2024-03-01", "close": 78.400002, "volume": 14463684, "typical_volume": 13950553.9, "trend": 98.001668, "fair_value": 291.908823, "relative_strength": -26.639246, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -46.658266, "energy": 34.922299, "activity_lines": [ 78.956668, 78.579092, 84.141905, 89.844732 ] }, { "date": "2024-03-08", "close": 83.400002, "volume": 19997761, "typical_volume": 14426122.7, "trend": 96.415001, "fair_value": 290.55487, "relative_strength": -20.233069, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -40.644787, "energy": 26.133217, "activity_lines": [ 80.826668, 79.100001, 83.491668, 88.902689 ] }, { "date": "2024-03-15", "close": 92.900002, "volume": 37612406, "typical_volume": 15772169.55, "trend": 95.615001, "fair_value": 289.279677, "relative_strength": -12.134938, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -21.21942, "energy": 16.008164, "activity_lines": [ 85.096668, 81.533638, 83.816191, 88.675915 ] }, { "date": "2024-03-22", "close": 86.75, "volume": 20724556, "typical_volume": 16179298.5, "trend": 94.643334, "fair_value": 287.98141, "relative_strength": -15.74809, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -27.053201, "energy": 18.894278, "activity_lines": [ 86.200001, 82.80091, 83.620239, 88.103979 ] }, { "date": "2024-03-29", "close": 88.300003, "volume": 16668612, "typical_volume": 16131682.85, "trend": 93.676668, "fair_value": 282.970513, "relative_strength": -13.404545, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -10.659834, "energy": 15.923554, "activity_lines": [ 87.493335, 84.316365, 83.698334, 87.694732 ] }, { "date": "2024-04-05", "close": 86.199997, "volume": 12392246, "typical_volume": 16044888.15, "trend": 92.666667, "fair_value": 278.074359, "relative_strength": -15.558484, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -10.977374, "energy": 15.599112, "activity_lines": [ 87.576667, 85.195455, 83.676429, 87.212366 ] }, { "date": "2024-04-12", "close": 94.599998, "volume": 18444538, "typical_volume": 16459993.0, "trend": 92.176667, "fair_value": 273.494872, "relative_strength": -6.569002, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": 4.353203, "energy": 13.207233, "activity_lines": [ 89.939999, 87.368182, 84.554048, 87.337097 ] }, { "date": "2024-04-19", "close": 85.25, "volume": 14852110, "typical_volume": 16151681.45, "trend": 91.441667, "fair_value": 268.528525, "relative_strength": -12.494444, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -7.934044, "energy": 10.885205, "activity_lines": [ 88.439999, 87.428182, 84.606429, 86.890216 ] }, { "date": "2024-04-26", "close": 104.300003, "volume": 34118983, "typical_volume": 17155086.1, "trend": 91.308334, "fair_value": 263.485577, "relative_strength": -0.963643, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 36.204318, "energy": 39.250314, "activity_lines": [ 93.8, 90.786364, 86.482858, 87.719786 ] }, { "date": "2024-05-03", "close": 114.5, "volume": 17866898, "typical_volume": 17341792.3, "trend": 91.625, "fair_value": 259.040064, "relative_strength": 4.396046, "stage": 1, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 55.29856, "energy": 63.752376, "activity_lines": [ 101.39, 95.590909, 89.279048, 89.216022 ] }, { "date": "2024-05-10", "close": 108.300003, "volume": 26421572, "typical_volume": 17722039.65, "trend": 91.635001, "fair_value": 255.211859, "relative_strength": -3.264736, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 41.597502, "energy": 63.165169, "activity_lines": [ 105.166668, 98.652728, 91.394048, 90.291829 ] }, { "date": "2024-05-17", "close": 129.0, "volume": 24631143, "typical_volume": 18409314.35, "trend": 92.665001, "fair_value": 250.859295, "relative_strength": 11.986314, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "up", "direction": 88.267428, "energy": 88.202426, "activity_lines": [ 114.370001, 104.934546, 95.347144, 92.702474 ] }, { "date": "2024-05-24", "close": 106.300003, "volume": 30452393, "typical_volume": 19545935.55, "trend": 92.655001, "fair_value": 246.348397, "relative_strength": -2.583849, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 63.098513, "energy": 72.871364, "activity_lines": [ 113.713335, 106.260001, 96.969763, 93.582151 ] }, { "date": "2024-05-31", "close": 111.199997, "volume": 19942658, "typical_volume": 19979071.4, "trend": 92.585001, "fair_value": 241.775961, "relative_strength": 5.01649, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 61.310669, "energy": 58.224127, "activity_lines": [ 113.286667, 108.232728, 98.98262, 94.778603 ] }, { "date": "2024-06-07", "close": 113.599998, "volume": 19846270, "typical_volume": 20282239.1, "trend": 92.728334, "fair_value": 236.927243, "relative_strength": 5.783302, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 60.832764, "energy": 46.927097, "activity_lines": [ 113.199999, 110.197273, 101.09881, 96.134409 ] }, { "date": "2024-06-14", "close": 117.099998, "volume": 19708835, "typical_volume": 19974175.1, "trend": 93.061667, "fair_value": 231.902243, "relative_strength": 11.857845, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 62.467717, "energy": 42.46297, "activity_lines": [ 114.339999, 112.338181, 103.361191, 97.706774 ] }, { "date": "2024-06-21", "close": 136.800003, "volume": 34716819, "typical_volume": 20863253.6, "trend": 94.011667, "fair_value": 226.638141, "relative_strength": 29.524363, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 80.498648, "energy": 55.19945, "activity_lines": [ 121.46, 117.499091, 107.291429, 100.528603 ] }, { "date": "2024-06-28", "close": 126.900002, "volume": 20579517, "typical_volume": 21042213.45, "trend": 95.331667, "fair_value": 221.458013, "relative_strength": 21.855312, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 64.481118, "energy": 55.23816, "activity_lines": [ 124.760001, 120.092728, 109.969762, 102.650431 ] }, { "date": "2024-07-05", "close": 125.800003, "volume": 13077155, "typical_volume": 21488180.4, "trend": 96.410001, "fair_value": 217.149038, "relative_strength": 19.93734, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 61.322862, "energy": 57.669589, "activity_lines": [ 126.320002, 121.729092, 112.301667, 104.61613 ] }, { "date": "2024-07-12", "close": 136.5, "volume": 14899233, "typical_volume": 21570869.45, "trend": 97.778334, "fair_value": 212.466346, "relative_strength": 26.384656, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 72.03527, "energy": 65.359405, "activity_lines": [ 130.473335, 124.920001, 115.443334, 107.202581 ] }, { "date": "2024-07-19", "close": 121.199997, "volume": 13817342, "typical_volume": 21538552.35, "trend": 99.141667, "fair_value": 207.986859, "relative_strength": 17.652805, "stage": 1, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 58.414699, "energy": 43.333695, "activity_lines": [ 128.0, 124.929091, 116.861905, 108.713656 ] }, { "date": "2024-07-26", "close": 114.900002, "volume": 12258229, "typical_volume": 21151575.75, "trend": 99.851667, "fair_value": 204.457372, "relative_strength": 14.191492, "stage": 1, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 43.828121, "energy": 30.509686, "activity_lines": [ 123.153334, 123.558182, 117.476667, 109.730323 ] }, { "date": "2024-08-02", "close": 119.400002, "volume": 11866530, "typical_volume": 19864281.95, "trend": 100.823334, "fair_value": 201.190705, "relative_strength": 19.322145, "stage": 1, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 39.68288, "energy": 25.332502, "activity_lines": [ 121.266667, 123.261819, 118.370001, 110.991506 ] }, { "date": "2024-08-09", "close": 113.400002, "volume": 18648750, "typical_volume": 19760491.65, "trend": 101.773334, "fair_value": 198.026602, "relative_strength": 12.451439, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 31.524816, "energy": 20.550953, "activity_lines": [ 117.880001, 121.636365, 118.565715, 111.802904 ] }, { "date": "2024-08-16", "close": 105.900002, "volume": 16768510, "typical_volume": 19765486.55, "trend": 102.826667, "fair_value": 195.538782, "relative_strength": 3.112853, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 13.957366, "energy": 17.329381, "activity_lines": [ 112.820002, 118.607274, 117.920239, 112.069141 ] }, { "date": "2024-08-23", "close": 107.099998, "volume": 18563484, "typical_volume": 20074048.45, "trend": 103.951667, "fair_value": 192.34391, "relative_strength": 3.310354, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 2.753798, "energy": 15.376491, "activity_lines": [ 110.200001, 115.936364, 117.305239, 112.344839 ] }, { "date": "2024-08-30", "close": 114.599998, "volume": 17713831, "typical_volume": 20037513.1, "trend": 105.375001, "fair_value": 188.81891, "relative_strength": 8.232222, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 7.849197, "energy": 16.253289, "activity_lines": [ 111.02, 114.810909, 117.305, 113.031828 ] }, { "date": "2024-09-06", "close": 121.300003, "volume": 11466995, "typical_volume": 19868257.35, "trend": 106.880001, "fair_value": 185.37532, "relative_strength": 17.924406, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 18.831629, "energy": 13.842704, "activity_lines": [ 114.093334, 115.307273, 117.84762, 114.059248 ] }, { "date": "2024-09-13", "close": 120.699997, "volume": 9801423, "typical_volume": 18652379.35, "trend": 108.175001, "fair_value": 182.399038, "relative_strength": 17.489795, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 32.517804, "energy": 16.028611, "activity_lines": [ 116.839999, 115.796364, 118.161429, 114.950861 ] }, { "date": "2024-09-20", "close": 125.400002, "volume": 10090962, "typical_volume": 18263582.55, "trend": 109.666667, "fair_value": 179.529808, "relative_strength": 15.769811, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 44.719254, "energy": 29.191923, "activity_lines": [ 120.666667, 117.232728, 118.844762, 116.062151 ] }, { "date": "2024-09-27", "close": 168.5, "volume": 37220401, "typical_volume": 18803524.0, "trend": 112.670001, "fair_value": 177.359936, "relative_strength": 36.738309, "stage": 1, "regime": "deceleration", "modifier": "Re-acceleration watch", "gate": "up", "direction": 88.164454, "energy": 80.427053, "activity_lines": [ 137.56, 126.707273, 123.580953, 119.85785 ] }, { "date": "2024-10-04", "close": 220.399994, "volume": 37385342, "typical_volume": 19441233.95, "trend": 117.236667, "fair_value": 175.295192, "relative_strength": 60.395117, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 96.648853, "energy": 96.621545, "activity_lines": [ 167.659998, 144.758181, 132.973333, 126.808172 ] }, { "date": "2024-10-11", "close": 175.600006, "volume": 41475581, "typical_volume": 19992393.35, "trend": 119.993334, "fair_value": 172.895192, "relative_strength": 35.770607, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 67.211858, "energy": 85.141801, "activity_lines": [ 175.773334, 152.745455, 137.66381, 130.573549 ] }, { "date": "2024-10-18", "close": 163.699997, "volume": 34913216, "typical_volume": 20740921.25, "trend": 122.558334, "fair_value": 169.771474, "relative_strength": 28.419684, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 65.770291, "energy": 83.217083, "activity_lines": [ 176.3, 157.547272, 140.890952, 133.393333 ] }, { "date": "2024-10-25", "close": 159.0, "volume": 23684315, "typical_volume": 20932823.5, "trend": 124.915, "fair_value": 167.018269, "relative_strength": 25.400904, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 63.206338, "energy": 70.484253, "activity_lines": [ 172.393333, 160.58, 143.420476, 135.744409 ] }, { "date": "2024-11-01", "close": 171.100006, "volume": 18690813, "typical_volume": 20881922.4, "trend": 127.745, "fair_value": 164.300961, "relative_strength": 34.683332, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 59.552633, "energy": 46.063213, "activity_lines": [ 170.280002, 164.847274, 146.886191, 138.724087 ] }, { "date": "2024-11-08", "close": 183.300003, "volume": 20281877, "typical_volume": 20160175.3, "trend": 130.701667, "fair_value": 161.209936, "relative_strength": 41.64837, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 67.931446, "energy": 45.592454, "activity_lines": [ 172.060003, 170.169092, 151.256667, 142.30828 ] }, { "date": "2024-11-15", "close": 146.100006, "volume": 27296554, "typical_volume": 20496027.15, "trend": 132.730001, "fair_value": 158.108013, "relative_strength": 19.955807, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 41.941649, "energy": 27.711923, "activity_lines": [ 163.913337, 167.478184, 151.862858, 143.301721 ] }, { "date": "2024-11-22", "close": 142.5, "volume": 18637023, "typical_volume": 20774020.55, "trend": 134.003334, "fair_value": 155.41891, "relative_strength": 17.745961, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 34.943992, "energy": 19.853931, "activity_lines": [ 156.533336, 163.68182, 152.034763, 143.932044 ] }, { "date": "2024-11-29", "close": 149.0, "volume": 16166259, "typical_volume": 20837371.85, "trend": 135.153334, "fair_value": 153.489423, "relative_strength": 20.971241, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 32.086819, "energy": 19.106043, "activity_lines": [ 152.733335, 160.670911, 152.746192, 144.899571 ] }, { "date": "2024-12-06", "close": 150.699997, "volume": 22512384, "typical_volume": 21272123.95, "trend": 136.566667, "fair_value": 151.525962, "relative_strength": 18.95501, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 27.335066, "energy": 21.113887, "activity_lines": [ 150.166667, 157.540001, 153.560001, 145.902581 ] }, { "date": "2024-12-13", "close": 154.199997, "volume": 31890419, "typical_volume": 22253733.45, "trend": 137.406667, "fair_value": 150.052885, "relative_strength": 20.336249, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 25.789343, "energy": 16.669197, "activity_lines": [ 150.126665, 155.369091, 154.566667, 147.040216 ] }, { "date": "2024-12-20", "close": 150.0, "volume": 13738343, "typical_volume": 22347324.1, "trend": 138.863334, "fair_value": 148.755449, "relative_strength": 17.596947, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 15.955255, "energy": 10.258421, "activity_lines": [ 150.626665, 153.638182, 154.986191, 147.852689 ] }, { "date": "2024-12-27", "close": 147.600006, "volume": 5038748, "typical_volume": 21666824.0, "trend": 140.076667, "fair_value": 147.390064, "relative_strength": 12.962257, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 13.220702, "energy": 8.626037, "activity_lines": [ 150.066668, 151.936365, 155.031429, 148.416345 ] }, { "date": "2025-01-03", "close": 134.399994, "volume": 9589644, "typical_volume": 21307880.7, "trend": 140.770001, "fair_value": 146.352885, "relative_strength": 4.164901, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -1.86553, "energy": 8.853464, "activity_lines": [ 144.766666, 148.127272, 153.656667, 148.050108 ] }, { "date": "2025-01-10", "close": 127.800003, "volume": 14724044, "typical_volume": 21115908.7, "trend": 141.126667, "fair_value": 145.264423, "relative_strength": 2.220929, "stage": 3, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -30.680495, "energy": 43.896876, "activity_lines": [ 138.24, 143.565455, 151.51762, 147.213334 ] }, { "date": "2025-01-17", "close": 134.600006, "volume": 16046505, "typical_volume": 21032542.4, "trend": 141.053334, "fair_value": 144.147756, "relative_strength": 4.18558, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -22.586458, "energy": 46.98526, "activity_lines": [ 135.506669, 141.027274, 149.92762, 146.792259 ] }, { "date": "2025-01-24", "close": 131.399994, "volume": 22214250, "typical_volume": 21569905.15, "trend": 141.203334, "fair_value": 143.499038, "relative_strength": -1.29625, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -26.288795, "energy": 50.248742, "activity_lines": [ 133.013333, 138.792727, 147.937619, 146.169463 ] }, { "date": "2025-01-31", "close": 133.699997, "volume": 4026070, "typical_volume": 21281137.5, "trend": 141.466667, "fair_value": 142.724038, "relative_strength": -0.926868, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -23.756862, "energy": 45.655821, "activity_lines": [ 132.526665, 137.243636, 146.118572, 145.685377 ] }, { "date": "2025-02-07", "close": 145.800003, "volume": 30242150, "typical_volume": 22288696.9, "trend": 141.776667, "fair_value": 141.840705, "relative_strength": 2.784131, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -25.691363, "energy": 20.634135, "activity_lines": [ 137.0, 138.054545, 145.39, 145.964947 ] }, { "date": "2025-02-14", "close": 172.100006, "volume": 60371523, "typical_volume": 23446253.0, "trend": 143.473334, "fair_value": 141.178526, "relative_strength": 12.5125, "stage": 2, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "up", "direction": 42.637689, "energy": 25.402323, "activity_lines": [ 149.480002, 143.705456, 147.069048, 147.921291 ] }, { "date": "2025-02-21", "close": 180.300003, "volume": 70193061, "typical_volume": 25086638.95, "trend": 145.653334, "fair_value": 140.803526, "relative_strength": 12.652207, "stage": 2, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "up", "direction": 63.230719, "energy": 45.919483, "activity_lines": [ 161.740002, 150.458183, 149.511906, 150.297205 ] }, { "date": "2025-02-28", "close": 156.300003, "volume": 54952344, "typical_volume": 25760477.1, "trend": 146.883334, "fair_value": 140.475962, "relative_strength": -0.643877, "stage": 2, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "up", "direction": 44.029829, "energy": 40.441501, "activity_lines": [ 162.953337, 152.372729, 149.860001, 150.984087 ] }, { "date": "2025-03-07", "close": 181.5, "volume": 41909422, "typical_volume": 26110287.4, "trend": 149.153334, "fair_value": 140.574038, "relative_strength": 8.505609, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 62.178003, "energy": 63.093865, "activity_lines": [ 170.906669, 158.754547, 152.700001, 153.21742 ] }, { "date": "2025-03-14", "close": 166.300003, "volume": 43617430, "typical_volume": 27106943.15, "trend": 151.166667, "fair_value": 140.421474, "relative_strength": 0.158055, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 48.364961, "energy": 56.734219, "activity_lines": [ 170.606669, 161.756366, 154.00762, 154.323657 ] }, { "date": "2025-03-21", "close": 156.100006, "volume": 27396677, "typical_volume": 27542236.35, "trend": 152.800001, "fair_value": 140.020833, "relative_strength": -5.262667, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 42.837996, "energy": 28.786769, "activity_lines": [ 165.540003, 162.323639, 154.309049, 154.641937 ] }, { "date": "2025-03-28", "close": 153.600006, "volume": 22265767, "typical_volume": 27641430.85, "trend": 154.100001, "fair_value": 139.640064, "relative_strength": -6.049426, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 26.705055, "energy": 18.264841, "activity_lines": [ 160.706671, 161.921822, 154.443812, 154.69355 ] }, { "date": "2025-04-04", "close": 148.199997, "volume": 13526276, "typical_volume": 26952916.95, "trend": 154.996668, "fair_value": 139.209295, "relative_strength": -7.403949, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -16.138354, "energy": 12.446675, "activity_lines": [ 155.853336, 160.19273, 154.205716, 154.312905 ] }, { "date": "2025-04-11", "close": 130.300003, "volume": 47556650, "typical_volume": 28398898.3, "trend": 155.316668, "fair_value": 138.724039, "relative_strength": -11.194984, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -52.383928, "energy": 33.486902, "activity_lines": [ 145.573336, 154.903639, 152.252859, 152.719572 ] }, { "date": "2025-04-18", "close": 129.800003, "volume": 16606085, "typical_volume": 28420889.6, "trend": 155.463335, "fair_value": 138.466987, "relative_strength": -13.714443, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -63.069196, "energy": 42.786759, "activity_lines": [ 138.540002, 149.585457, 150.310478, 151.073335 ] }, { "date": "2025-04-25", "close": 133.800003, "volume": 13500672, "typical_volume": 27970304.0, "trend": 154.306668, "fair_value": 138.019551, "relative_strength": -13.4672, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -58.940506, "energy": 54.19976, "activity_lines": [ 135.273336, 145.285457, 148.840478, 149.675701 ] }, { "date": "2025-05-02", "close": 140.199997, "volume": 8491401, "typical_volume": 26800353.1, "trend": 151.633335, "fair_value": 137.871474, "relative_strength": -11.446963, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -56.766761, "energy": 51.550262, "activity_lines": [ 135.626667, 142.845456, 148.060478, 148.765593 ] }, { "date": "2025-05-09", "close": 137.199997, "volume": 9704975, "typical_volume": 26598684.7, "trend": 150.353335, "fair_value": 137.76891, "relative_strength": -14.784926, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -54.270656, "energy": 42.283383, "activity_lines": [ 135.873333, 140.589092, 147.06143, 147.83441 ] }, { "date": "2025-05-16", "close": 144.800003, "volume": 18902621, "typical_volume": 27291878.35, "trend": 149.723335, "fair_value": 137.572115, "relative_strength": -11.8083, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -49.698922, "energy": 27.539489, "activity_lines": [ 139.386667, 140.061819, 146.847144, 147.47613 ] }, { "date": "2025-05-23", "close": 146.399994, "volume": 35277528, "typical_volume": 28576272.55, "trend": 149.303335, "fair_value": 137.494551, "relative_strength": -11.919968, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -35.528783, "energy": 16.730747, "activity_lines": [ 142.466665, 140.492727, 146.798572, 147.261721 ] }, { "date": "2025-05-30", "close": 147.100006, "volume": 24543811, "typical_volume": 29067260.9, "trend": 148.503335, "fair_value": 137.270833, "relative_strength": -10.355662, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -31.508132, "energy": 16.312195, "activity_lines": [ 144.673334, 141.412728, 146.759525, 147.119571 ] }, { "date": "2025-06-06", "close": 146.600006, "volume": 26129954, "typical_volume": 29571433.35, "trend": 147.280001, "fair_value": 136.801603, "relative_strength": -12.542646, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -27.720024, "energy": 18.180071, "activity_lines": [ 145.826669, 142.405456, 146.580954, 146.996776 ] }, { "date": "2025-06-13", "close": 159.800003, "volume": 48704762, "typical_volume": 30895958.95, "trend": 147.736668, "fair_value": 136.506731, "relative_strength": -5.108855, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 21.433992, "energy": 20.508134, "activity_lines": [ 150.953337, 145.925456, 147.602383, 147.804518 ] }, { "date": "2025-06-20", "close": 156.5, "volume": 24317150, "typical_volume": 31910512.95, "trend": 148.203335, "fair_value": 136.072757, "relative_strength": -5.39657, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 25.998918, "energy": 23.870485, "activity_lines": [ 153.473336, 148.634547, 148.174287, 148.369894 ] }, { "date": "2025-06-27", "close": 166.600006, "volume": 20790459, "typical_volume": 31437928.4, "trend": 148.790001, "fair_value": 135.852244, "relative_strength": -2.336165, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 66.878824, "energy": 54.465237, "activity_lines": [ 158.580004, 152.703639, 149.599526, 149.556776 ] }, { "date": "2025-07-04", "close": 172.5, "volume": 19289140, "typical_volume": 29383809.25, "trend": 149.516668, "fair_value": 135.596475, "relative_strength": 2.638095, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 72.118815, "energy": 67.772121, "activity_lines": [ 164.306669, 157.176366, 151.487621, 151.086453 ] }, { "date": "2025-07-11", "close": 171.899994, "volume": 23263957, "typical_volume": 27037354.05, "trend": 150.106668, "fair_value": 135.565705, "relative_strength": 1.428609, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 69.970555, "energy": 72.743889, "activity_lines": [ 168.139999, 160.836364, 153.316668, 152.530539 ] }, { "date": "2025-07-18", "close": 199.699997, "volume": 33358484, "typical_volume": 25957661.05, "trend": 151.763335, "fair_value": 135.521474, "relative_strength": 14.235699, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 91.102826, "energy": 87.418533, "activity_lines": [ 179.553332, 168.974546, 157.833334, 155.730109 ] }, { "date": "2025-07-25", "close": 184.800003, "volume": 30082536, "typical_volume": 25366316.75, "trend": 153.003335, "fair_value": 135.495833, "relative_strength": 3.220423, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 69.389006, "energy": 79.583839, "activity_lines": [ 183.339999, 173.267273, 160.724287, 157.861507 ] }, { "date": "2025-08-01", "close": 174.199997, "volume": 28653719, "typical_volume": 24618131.2, "trend": 154.330001, "fair_value": 135.3625, "relative_strength": 0.778652, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 64.55728, "energy": 71.100617, "activity_lines": [ 181.706665, 174.905454, 162.59, 159.229033 ] }, { "date": "2025-08-08", "close": 178.5, "volume": 21202079, "typical_volume": 24308401.3, "trend": 156.020001, "fair_value": 135.234295, "relative_strength": 1.657056, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 62.171787, "energy": 54.531581, "activity_lines": [ 180.999999, 176.82, 164.827619, 160.788388 ] }, { "date": "2025-08-15", "close": 191.800003, "volume": 24266646, "typical_volume": 24408445.25, "trend": 157.926668, "fair_value": 135.305449, "relative_strength": 7.012654, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 70.579246, "energy": 49.874793, "activity_lines": [ 184.326667, 180.581818, 168.225239, 163.096775 ] }, { "date": "2025-08-22", "close": 184.699997, "volume": 34565996, "typical_volume": 25460431.25, "trend": 159.703335, "fair_value": 135.198398, "relative_strength": 2.434855, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 59.224961, "energy": 41.737597, "activity_lines": [ 183.96, 182.230908, 170.764762, 164.824087 ] }, { "date": "2025-08-29", "close": 180.899994, "volume": 40271583, "typical_volume": 25096177.9, "trend": 161.276668, "fair_value": 135.12468, "relative_strength": 1.143185, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 55.655541, "energy": 38.563491, "activity_lines": [ 183.326664, 182.736362, 172.768571, 166.191613 ] }, { "date": "2025-09-05", "close": 176.699997, "volume": 28048293, "typical_volume": 25668288.3, "trend": 162.306668, "fair_value": 135.282372, "relative_strength": -2.52753, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 43.008105, "energy": 30.818935, "activity_lines": [ 181.553331, 182.034543, 174.131428, 167.186667 ] }, { "date": "2025-09-12", "close": 198.800003, "volume": 47119704, "typical_volume": 27349239.9, "trend": 163.196667, "fair_value": 135.667628, "relative_strength": 5.465339, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 67.972748, "energy": 40.69375, "activity_lines": [ 186.979999, 185.167272, 177.375714, 169.541075 ] }, { "date": "2025-09-19", "close": 212.0, "volume": 41615738, "typical_volume": 29005456.75, "trend": 164.253334, "fair_value": 136.21891, "relative_strength": 11.467517, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 76.603967, "energy": 52.453754, "activity_lines": [ 195.453333, 190.221817, 181.567619, 172.689677 ] }, { "date": "2025-09-26", "close": 204.800003, "volume": 23012876, "typical_volume": 29670851.8, "trend": 165.870001, "fair_value": 136.765064, "relative_strength": 9.49655, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 65.908842, "energy": 62.068334, "activity_lines": [ 200.180001, 193.238182, 184.731905, 175.305592 ] }, { "date": "2025-10-03", "close": 226.199997, "volume": 20294258, "typical_volume": 29740433.65, "trend": 167.360001, "fair_value": 137.408654, "relative_strength": 16.852149, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 79.648495, "energy": 80.069625, "activity_lines": [ 210.7, 200.052727, 189.61238, 179.197849 ] }, { "date": "2025-10-10", "close": 228.0, "volume": 22282691, "typical_volume": 29090691.8, "trend": 169.416667, "fair_value": 138.274359, "relative_strength": 21.45859, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 75.437813, "energy": 80.806641, "activity_lines": [ 218.8, 206.441818, 194.276666, 183.110107 ] }, { "date": "2025-10-17", "close": 204.600006, "volume": 36279953, "typical_volume": 29677498.9, "trend": 171.033334, "fair_value": 139.042628, "relative_strength": 13.424877, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 63.611417, "energy": 64.757312, "activity_lines": [ 215.680002, 207.598183, 196.32381, 185.38 ] }, { "date": "2025-10-24", "close": 227.600006, "volume": 27727349, "typical_volume": 29757368.65, "trend": 173.5, "fair_value": 140.060257, "relative_strength": 21.451906, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 72.262812, "energy": 63.516561, "activity_lines": [ 219.840003, 212.46182, 200.28762, 189.029463 ] }, { "date": "2025-10-31", "close": 232.399994, "volume": 24076773, "typical_volume": 28525969.2, "trend": 176.306667, "fair_value": 141.005128, "relative_strength": 25.016353, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 71.270347, "energy": 54.488938, "activity_lines": [ 224.560001, 217.547273, 204.322857, 192.829463 ] }, { "date": "2025-11-07", "close": 216.800003, "volume": 24703256, "typical_volume": 28545274.5, "trend": 179.19, "fair_value": 141.779167, "relative_strength": 15.314623, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 58.241923, "energy": 42.537336, "activity_lines": [ 222.240001, 218.929092, 206.526667, 195.441936 ] }, { "date": "2025-11-14", "close": 209.0, "volume": 20530850, "typical_volume": 28532294.05, "trend": 181.83, "fair_value": 142.354808, "relative_strength": 9.681211, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 46.16075, "energy": 35.227517, "activity_lines": [ 217.946667, 218.240001, 207.700477, 197.365162 ] }, { "date": "2025-11-21", "close": 192.100006, "volume": 22372718, "typical_volume": 28686472.95, "trend": 183.773334, "fair_value": 142.950321, "relative_strength": 6.15955, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 29.765073, "energy": 18.43676, "activity_lines": [ 209.286669, 213.890911, 207.062858, 198.027743 ] }, { "date": "2025-11-28", "close": 206.399994, "volume": 24616614, "typical_volume": 28754105.8, "trend": 185.98, "fair_value": 143.417628, "relative_strength": 11.151515, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 30.415346, "energy": 19.507906, "activity_lines": [ 206.226666, 212.263637, 207.69381, 199.487527 ] }, { "date": "2025-12-05", "close": 203.800003, "volume": 16041990, "typical_volume": 27888281.1, "trend": 188.2, "fair_value": 143.464423, "relative_strength": 8.733574, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 25.986291, "energy": 18.915494, "activity_lines": [ 203.713334, 210.265455, 207.912858, 200.637205 ] }, { "date": "2025-12-12", "close": 195.699997, "volume": 19809282, "typical_volume": 27374618.4, "trend": 189.896667, "fair_value": 143.573398, "relative_strength": 4.899868, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 5.859495, "energy": 13.022907, "activity_lines": [ 200.406666, 206.812727, 207.340953, 201.121075 ] }, { "date": "2025-12-19", "close": 192.800003, "volume": 15109956, "typical_volume": 26697430.25, "trend": 191.443334, "fair_value": 143.615705, "relative_strength": 4.525352, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 2.55738, "energy": 11.359729, "activity_lines": [ 197.54, 203.387273, 206.440953, 201.308387 ] }, { "date": "2025-12-26", "close": 191.5, "volume": 4514853, "typical_volume": 25863068.95, "trend": 192.923334, "fair_value": 143.645834, "relative_strength": 3.284813, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -0.518754, "energy": 12.848438, "activity_lines": [ 195.32, 200.365455, 205.328572, 201.312043 ] }, { "date": "2026-01-02", "close": 199.699997, "volume": 6435764, "typical_volume": 24971524.85, "trend": 194.693333, "fair_value": 143.515705, "relative_strength": 5.362628, "stage": 2, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "up", "direction": 4.907762, "energy": 17.039897, "activity_lines": [ 195.873333, 199.072727, 204.935238, 201.749247 ] }, { "date": "2026-01-09", "close": 223.399994, "volume": 26472611, "typical_volume": 24566855.6, "trend": 196.813333, "fair_value": 143.579808, "relative_strength": 17.775661, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 41.186922, "energy": 17.078803, "activity_lines": [ 204.773331, 202.596362, 206.761428, 203.60129 ] }, { "date": "2026-01-16", "close": 260.0, "volume": 31572113, "typical_volume": 24131882.1, "trend": 200.263333, "fair_value": 143.956731, "relative_strength": 32.94584, "stage": 2, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "up", "direction": 75.902303, "energy": 63.547905, "activity_lines": [ 224.566665, 212.938181, 211.889047, 207.677849 ] }, { "date": "2026-01-23", "close": 262.600006, "volume": 23361200, "typical_volume": 23897527.45, "trend": 203.463333, "fair_value": 144.240064, "relative_strength": 33.601666, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 79.784574, "energy": 81.4894, "activity_lines": [ 240.94, 222.967273, 216.887619, 211.69957 ] }, { "date": "2026-01-30", "close": 273.0, "volume": 21468721, "typical_volume": 22614978.3, "trend": 206.813333, "fair_value": 144.725962, "relative_strength": 34.47755, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 80.981598, "energy": 88.289917, "activity_lines": [ 256.126667, 233.912727, 222.467619, 216.185807 ] }, { "date": "2026-02-06", "close": 239.399994, "volume": 28018578, "typical_volume": 21935120.3, "trend": 209.063333, "fair_value": 145.156731, "relative_strength": 20.935612, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 64.880065, "energy": 80.11316, "activity_lines": [ 254.679999, 237.278181, 224.494285, 218.288172 ] }, { "date": "2026-02-13", "close": 240.600006, "volume": 19721898, "typical_volume": 21770571.4, "trend": 210.426667, "fair_value": 145.564423, "relative_strength": 21.056693, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 62.773721, "energy": 69.804911, "activity_lines": [ 250.986668, 240.261818, 226.504762, 220.322796 ] }, { "date": "2026-02-20", "close": 229.600006, "volume": 2137178, "typical_volume": 20862717.4, "trend": 211.92, "fair_value": 145.965706, "relative_strength": 15.892835, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 56.77509, "energy": 40.87974, "activity_lines": [ 242.480003, 240.576365, 227.297144, 221.559786 ] }, { "date": "2026-02-27", "close": 221.199997, "volume": 17565508, "typical_volume": 20626858.25, "trend": 213.486667, "fair_value": 146.300962, "relative_strength": 10.319888, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 34.296353, "energy": 21.426758, "activity_lines": [ 233.200001, 238.747273, 227.273334, 222.158495 ] }, { "date": "2026-03-06", "close": 201.199997, "volume": 29298372, "typical_volume": 20277779.2, "trend": 214.243333, "fair_value": 146.646475, "relative_strength": 3.662212, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 4.827114, "energy": 17.994396, "activity_lines": [ 220.013333, 232.765455, 225.377143, 221.365807 ] }, { "date": "2026-03-13", "close": 197.199997, "volume": 23876735, "typical_volume": 20085248.5, "trend": 214.423333, "fair_value": 146.758654, "relative_strength": 2.554924, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -18.716416, "energy": 28.942033, "activity_lines": [ 210.279999, 225.88, 223.11619, 220.266237 ] }, { "date": "2026-03-20", "close": 195.300003, "volume": 24185877, "typical_volume": 20090703.7, "trend": 214.776667, "fair_value": 146.790065, "relative_strength": 2.027917, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -27.881524, "energy": 34.430669, "activity_lines": [ 202.726666, 218.694546, 220.819048, 219.032473 ] }, { "date": "2026-03-27", "close": 179.399994, "volume": 21434780, "typical_volume": 19927279.9, "trend": 214.726667, "fair_value": 146.72468, "relative_strength": -5.20855, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -38.08572, "energy": 50.001733, "activity_lines": [ 192.893331, 209.12909, 217.184285, 216.750107 ] }, { "date": "2026-04-03", "close": 178.5, "volume": 15717345, "typical_volume": 19686604.65, "trend": 214.786667, "fair_value": 146.7875, "relative_strength": -6.44967, "stage": 4, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -71.405078, "energy": 70.7171, "activity_lines": [ 186.106665, 200.865454, 213.641904, 214.412903 ] }, { "date": "2026-04-10", "close": 184.100006, "volume": 10156937, "typical_volume": 19075815.6, "trend": 214.296667, "fair_value": 146.89327, "relative_strength": -6.618048, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -63.374435, "energy": 67.516369, "activity_lines": [ 184.033334, 195.149091, 210.778095, 212.433118 ] }, { "date": "2026-04-17", "close": 195.0, "volume": 13742830, "typical_volume": 18532126.4, "trend": 213.73, "fair_value": 147.130449, "relative_strength": -2.439751, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -61.101846, "energy": 60.590313, "activity_lines": [ 186.733334, 193.030909, 208.990476, 211.188172 ] }, { "date": "2026-04-24", "close": 174.399994, "volume": 17621394, "typical_volume": 18611096.6, "trend": 212.716667, "fair_value": 147.240706, "relative_strength": -12.272225, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -69.743651, "energy": 58.832131, "activity_lines": [ 182.713332, 187.974544, 205.295238, 208.650752 ] }, { "date": "2026-05-01", "close": 168.199997, "volume": 11086728, "typical_volume": 18174968.9, "trend": 210.783333, "fair_value": 147.320834, "relative_strength": -14.792722, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -72.795438, "energy": 63.817483, "activity_lines": [ 178.019998, 182.994544, 201.149523, 205.778709 ] }, { "date": "2026-05-08", "close": 177.800003, "volume": 14272362, "typical_volume": 18133089.2, "trend": 209.11, "fair_value": 147.528526, "relative_strength": -12.198136, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -60.270347, "energy": 60.455826, "activity_lines": [ 177.273333, 180.876363, 198.049047, 203.650752 ] }, { "date": "2026-05-15", "close": 153.5, "volume": 22940648, "typical_volume": 19054378.95, "trend": 207.406667, "fair_value": 147.608654, "relative_strength": -22.883636, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -80.169271, "energy": 80.818154, "activity_lines": [ 168.473333, 175.12909, 192.705714, 200.06301 ] }, { "date": "2026-05-22", "close": 138.100006, "volume": 34823455, "typical_volume": 20473763.5, "trend": 204.423333, "fair_value": 147.636859, "relative_strength": -29.510725, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -84.986593, "energy": 88.684573, "activity_lines": [ 156.580002, 167.449092, 186.076667, 195.591613 ] }, { "date": "2026-05-29", "close": 136.300003, "volume": 19979336, "typical_volume": 20149099.75, "trend": 201.22, "fair_value": 147.718911, "relative_strength": -29.098092, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -81.782248, "energy": 90.888899, "activity_lines": [ 147.880003, 160.516365, 179.569524, 191.196559 ] }, { "date": "2026-06-05", "close": 142.800003, "volume": 3449571, "typical_volume": 18742972.65, "trend": 198.753334, "fair_value": 147.801603, "relative_strength": -24.97753, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -69.38476, "energy": 87.664497, "activity_lines": [ 143.88667, 155.838184, 174.096191, 187.427527 ] }, { "date": "2026-06-12", "close": 142.899994, "volume": 8137462, "typical_volume": 17981785.75, "trend": 196.55, "fair_value": 147.798398, "relative_strength": -24.01053, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -66.484288, "energy": 86.369248, "activity_lines": [ 141.62, 151.843637, 169.190476, 183.824086 ] }, { "date": "2026-06-19", "close": 135.199997, "volume": 19985175, "typical_volume": 17907608.45, "trend": 194.653333, "fair_value": 147.894552, "relative_strength": -25.533056, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -73.944473, "energy": 87.099901, "activity_lines": [ 139.113332, 147.096363, 164.121428, 179.866021 ] }, { "date": "2026-06-26", "close": 124.699997, "volume": 4146133, "typical_volume": 16713986.2, "trend": 191.93, "fair_value": 147.945834, "relative_strength": -27.269885, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -82.558524, "energy": 87.202671, "activity_lines": [ 134.326664, 141.32909, 158.708571, 175.352903 ] }, { "date": "2026-07-03", "close": 137.699997, "volume": 4129552, "typical_volume": 15934368.9, "trend": 189.726666, "fair_value": 148.090065, "relative_strength": -21.758579, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -65.54223, "energy": 67.158583, "activity_lines": [ 134.766664, 139.203635, 155.079999, 171.854193 ] }, { "date": "2026-07-10", "close": 139.199997, "volume": 3004999, "typical_volume": 15977759.95, "trend": 187.843333, "fair_value": 148.126603, "relative_strength": -23.339104, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -63.662967, "energy": 63.015143, "activity_lines": [ 135.61333, 138.01818, 152.084285, 168.594408 ] }, { "date": "2026-07-17", "close": 139.399994, "volume": 4888984, "typical_volume": 15343933.75, "trend": 186.063333, "fair_value": 148.235577, "relative_strength": -23.97788, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -61.140169, "energy": 59.581628, "activity_lines": [ 136.766663, 137.396361, 149.538094, 165.469031 ] }, { "date": "2026-07-24", "close": 135.899994, "volume": 2508146, "typical_volume": 14004422.45, "trend": 184.209999, "fair_value": 148.225321, "relative_strength": -26.730791, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -53.799734, "energy": 53.681154, "activity_lines": [ 136.986662, 136.83636, 147.048093, 162.232687 ] }, { "date": "2026-07-31", "close": 147.699997, "volume": 17631632, "typical_volume": 13692167.3, "trend": 182.476666, "fair_value": 148.248398, "relative_strength": -22.923268, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -46.485824, "energy": 41.017591, "activity_lines": [ 141.093329, 138.741814, 145.992855, 159.877203 ] }, { "date": "2026-08-07", "close": 144.5, "volume": 12646511, "typical_volume": 13115199.0, "trend": 179.846666, "fair_value": 148.334936, "relative_strength": -23.649835, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -42.426237, "energy": 34.137128, "activity_lines": [ 142.599997, 139.890906, 144.868569, 157.427095 ] }, { "date": "2026-08-14", "close": 133.5, "volume": 13175983, "typical_volume": 12702259.15, "trend": 175.629999, "fair_value": 148.441347, "relative_strength": -27.483779, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -56.385601, "energy": 40.922517, "activity_lines": [ 139.986665, 138.890906, 142.93857, 154.436988 ] }, { "date": "2026-08-21", "close": 133.399994, "volume": 16383111, "typical_volume": 12735547.45, "trend": 171.323332, "fair_value": 148.553526, "relative_strength": -29.626037, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -66.406903, "energy": 46.021448, "activity_lines": [ 137.719997, 138.041815, 141.217617, 151.712471 ] }, { "date": "2026-08-28", "close": 131.800003, "volume": 24395682, "typical_volume": 13447484.7, "trend": 166.616666, "fair_value": 148.646475, "relative_strength": -28.929288, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -68.370607, "energy": 52.142434, "activity_lines": [ 135.319999, 137.074543, 139.559046, 149.162579 ] } ], "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." } } }