{ "ticker": { "uuid": "0d671552-27f4-4bc6-ad9d-d71294055b68", "symbol": "NICE", "name": "Nice Ltd ADR", "exchange": "NASDAQ", "country": "US", "assetType": "equity" }, "methodBoundary": "Trend Architecture is a weekly structural classification, not a forecast, probability of return, recommendation or execution signal. Confidence measures geometric agreement and external confirmation only.", "analysis": { "eligible": true, "as_of": "2026-08-07", "benchmark": "QQQ", "stage": 4, "stage_name": "Declining", "phase": "4b", "phase_label": "Stage 4B \u00b7 Declining", "transition": "stage_4_declining", "transition_label": "Stage 4 decline intact", "confidence": 72.106, "architecture_regime": "balance", "architecture_regime_label": "Balance", "architecture_modifier": "Balance after decline", "architecture_gate": "down", "architecture_direction": -9.369, "architecture_energy": 9.798, "architecture_maturity": 14.823, "architecture_confidence": 63.702, "architecture_tenure": "New", "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": 62.85, "rotation_up": 29.39, "upward_expansion": 25.14, "deceleration": 47.08, "rotation_down": 20.99, "downward_expansion": 47.14 }, "activity_lines": [ 98.348667, 96.462545, 95.884619, 99.072075 ], "activity_state": "Compressed", "activity_direction": "Contracting", "rotation_direction": "Improving", "price_acceptance": 0.0 }, "latest_close": 101.85, "trend_reference": 103.278833, "distance_from_trend": -0.013835, "trend_direction": "Weakening", "fair_value": 158.753974, "distance_from_fair_value": -0.358441, "fair_value_direction": "Improving", "relative_strength": -22.433818, "relative_strength_direction": "Improving", "price_momentum": -0.089487, "excess_performance": -0.27694, "evidence": [ { "label": "Price vs Trend", "positive": false, "value": -0.013835, "read": "Below" }, { "label": "Trend direction", "positive": false, "value": -0.057397, "read": "Falling" }, { "label": "Price vs current Fair Value", "positive": false, "value": -0.358441, "read": "Below anchor" }, { "label": "Fair Value direction", "positive": true, "value": 0.090462, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.224338, "read": "Lagging" }, { "label": "Relative strength direction", "positive": true, "value": 0.191901, "read": "Improving" }, { "label": "Price momentum", "positive": false, "value": -0.089487, "read": "Negative" }, { "label": "Volume balance", "positive": true, "value": 1.187721, "read": "Demand-led" } ], "volume": { "latest": 4225388, "relative_activity": 1.300572, "balance": 1.187721, "dry_up": 1.039722, "accumulation_observations": 3, "distribution_observations": 5 }, "risk": { "range_context": 0.094343, "annualized_volatility": 0.585842, "from_high_reference": -0.337259, "from_low_reference": 0.225632 }, "levels": { "trend_reference": 103.278833, "fair_value_reference": 158.753974, "structural_low": 83.1, "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": 18, "median_return": -0.038068, "positive_rate": 0.333333, "directional_follow_through": 0.333333, "median_excess_return": -0.010764, "regime_survival": 0.444444, "best_return": 0.17373, "worst_return": -0.180633, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 8, "median_return": -0.087929, "positive_rate": 0.25, "directional_follow_through": 0.25, "median_excess_return": -0.098275, "regime_survival": 0.25, "best_return": 0.037069, "worst_return": -0.244314, "sufficient": true }, { "horizon": "Extended", "sample_count": 5, "median_return": -0.009259, "positive_rate": 0.2, "directional_follow_through": 0.2, "median_excess_return": -0.118814, "regime_survival": 0.4, "best_return": 0.011473, "worst_return": -0.183871, "sufficient": true }, { "horizon": "Full cycle", "sample_count": 3, "median_return": -0.162083, "positive_rate": 0.333333, "directional_follow_through": 0.333333, "median_excess_return": -0.377699, "regime_survival": 0.333333, "best_return": 0.009251, "worst_return": -0.241094, "sufficient": false } ], "ledger": [ { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2024-06-28", "end": "2024-10-18", "tenure": "Established", "return": 0.045008, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2024-10-25", "end": "2024-12-06", "tenure": "Developing", "return": 0.088797, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2024-12-13", "end": "2025-01-03", "tenure": "New", "return": -0.090373, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-01-10", "end": "2025-01-17", "tenure": "New", "return": 0.004578, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2025-01-24", "end": "2025-02-07", "tenure": "New", "return": 0.046887, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-02-14", "end": "2025-02-28", "tenure": "New", "return": -0.2114, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-03-07", "end": "2025-05-09", "tenure": "Developing", "return": 0.097597, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-05-16", "end": "2025-06-06", "tenure": "New", "return": 0.081197, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2025-06-13", "end": "2025-07-11", "tenure": "Developing", "return": -0.065427, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-07-18", "end": "2025-08-15", "tenure": "Developing", "return": -0.131999, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-08-22", "end": "2026-03-06", "tenure": "Extended", "return": -0.105123, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-03-13", "end": "2026-04-17", "tenure": "Developing", "return": -0.103416, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2026-04-24", "end": "2026-07-31", "tenure": "Established", "return": -0.015546, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-08-07", "end": "2026-08-07", "tenure": "New", "return": 0.0, "active": true } ], "chart_path": [ { "date": "2023-08-18", "close": 194.88, "volume": 2876693, "typical_volume": 1863026.95, "trend": 209.425, "fair_value": 230.868974, "relative_strength": -17.764839, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -39.346288, "energy": 15.828455, "activity_lines": [ 208.524667, 208.952727, 207.094048, 207.835032 ] }, { "date": "2023-08-25", "close": 196.82, "volume": 1512024, "typical_volume": 1898185.0, "trend": 208.867333, "fair_value": 230.655513, "relative_strength": -17.91437, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -41.094857, "energy": 22.68548, "activity_lines": [ 203.745333, 206.565091, 206.150952, 207.021806 ] }, { "date": "2023-09-01", "close": 195.69, "volume": 1224966, "typical_volume": 1924952.3, "trend": 208.042, "fair_value": 230.494936, "relative_strength": -20.871076, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -54.557201, "energy": 41.539272, "activity_lines": [ 199.85, 204.458909, 205.236333, 206.171656 ] }, { "date": "2023-09-08", "close": 187.44, "volume": 1450004, "typical_volume": 1939900.1, "trend": 206.91, "fair_value": 230.332051, "relative_strength": -22.748711, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -68.103262, "energy": 59.880717, "activity_lines": [ 194.558667, 201.094727, 203.686571, 204.842495 ] }, { "date": "2023-09-15", "close": 176.46, "volume": 2875953, "typical_volume": 2031713.6, "trend": 205.48, "fair_value": 230.072692, "relative_strength": -26.447975, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -78.005946, "energy": 76.135728, "activity_lines": [ 187.176667, 196.080727, 201.193762, 202.877978 ] }, { "date": "2023-09-22", "close": 171.89, "volume": 1573765, "typical_volume": 1981558.0, "trend": 204.41, "fair_value": 229.740192, "relative_strength": -25.409259, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -81.897602, "energy": 82.959923, "activity_lines": [ 181.054, 190.639636, 198.396905, 200.710882 ] }, { "date": "2023-09-29", "close": 170.0, "volume": 2209813, "typical_volume": 1806716.7, "trend": 202.964333, "fair_value": 229.373205, "relative_strength": -25.783434, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -78.482877, "energy": 85.522306, "activity_lines": [ 175.834, 185.474364, 195.493095, 198.490882 ] }, { "date": "2023-10-06", "close": 169.91, "volume": 3161709, "typical_volume": 1839773.0, "trend": 201.811, "fair_value": 228.95359, "relative_strength": -26.560042, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -72.889945, "energy": 84.76714, "activity_lines": [ 172.372, 181.124182, 192.628571, 196.358344 ] }, { "date": "2023-10-13", "close": 158.7, "volume": 4065368, "typical_volume": 1949048.4, "trend": 200.010667, "fair_value": 228.455769, "relative_strength": -30.952799, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -83.155431, "energy": 90.313271, "activity_lines": [ 166.892, 175.573818, 188.797952, 193.576989 ] }, { "date": "2023-10-20", "close": 156.3, "volume": 2772676, "typical_volume": 1970814.65, "trend": 198.218333, "fair_value": 227.995577, "relative_strength": -29.387592, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -80.714286, "energy": 90.2212, "activity_lines": [ 162.528, 170.537636, 184.87919, 190.756946 ] }, { "date": "2023-10-27", "close": 152.13, "volume": 2386098, "typical_volume": 1984084.1, "trend": 195.659667, "fair_value": 227.507564, "relative_strength": -28.879919, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -80.635397, "energy": 89.775317, "activity_lines": [ 158.118, 165.868727, 180.802762, 187.783505 ] }, { "date": "2023-11-03", "close": 168.05, "volume": 2852844, "typical_volume": 2028208.75, "trend": 193.748, "fair_value": 226.966154, "relative_strength": -25.760202, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -66.53588, "energy": 69.673762, "activity_lines": [ 160.332, 164.871636, 178.546286, 186.002237 ] }, { "date": "2023-11-10", "close": 170.06, "volume": 2263376, "typical_volume": 2058787.25, "trend": 191.839667, "fair_value": 226.540641, "relative_strength": -26.426101, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -63.22804, "energy": 55.810809, "activity_lines": [ 163.346, 164.763091, 176.745762, 184.473978 ] }, { "date": "2023-11-17", "close": 194.52, "volume": 5676387, "typical_volume": 2273274.15, "trend": 191.357, "fair_value": 226.252115, "relative_strength": -17.005447, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -23.448859, "energy": 20.925983, "activity_lines": [ 174.503333, 169.567818, 177.46019, 184.646903 ] }, { "date": "2023-11-24", "close": 193.23, "volume": 2283878, "typical_volume": 2342805.45, "trend": 190.997667, "fair_value": 225.954038, "relative_strength": -17.829016, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -8.63181, "energy": 26.024356, "activity_lines": [ 182.842667, 174.009273, 178.10881, 184.767742 ] }, { "date": "2023-12-01", "close": 188.49, "volume": 2287672, "typical_volume": 2408245.0, "trend": 191.039667, "fair_value": 225.600128, "relative_strength": -19.416975, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -11.884832, "energy": 29.359068, "activity_lines": [ 187.14, 177.284, 178.331905, 184.605957 ] }, { "date": "2023-12-08", "close": 203.2, "volume": 2269860, "typical_volume": 2435465.45, "trend": 191.811333, "fair_value": 225.344551, "relative_strength": -13.104512, "stage": 1, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "mixed", "direction": 38.812973, "energy": 44.52866, "activity_lines": [ 193.916667, 182.931455, 180.039143, 185.390495 ] }, { "date": "2023-12-15", "close": 199.2, "volume": 1820651, "typical_volume": 2475650.7, "trend": 192.077, "fair_value": 224.867949, "relative_strength": -16.943171, "stage": 1, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 30.628832, "energy": 42.487247, "activity_lines": [ 197.016667, 187.248, 181.425095, 185.867183 ] }, { "date": "2023-12-22", "close": 200.67, "volume": 1531859, "typical_volume": 2470516.0, "trend": 192.493, "fair_value": 224.360705, "relative_strength": -16.463602, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 32.263223, "energy": 55.171036, "activity_lines": [ 198.664, 191.299273, 183.031048, 186.42157 ] }, { "date": "2023-12-29", "close": 199.51, "volume": 719368, "typical_volume": 2390748.2, "trend": 192.257, "fair_value": 223.822051, "relative_strength": -16.566885, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 27.252107, "energy": 53.8123, "activity_lines": [ 199.514667, 194.376545, 184.575619, 186.87428 ] }, { "date": "2024-01-05", "close": 194.6, "volume": 1167151, "typical_volume": 2305271.1, "trend": 191.546333, "fair_value": 223.313718, "relative_strength": -15.407255, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 23.374939, "energy": 31.167865, "activity_lines": [ 198.31, 195.775455, 185.741571, 187.025441 ] }, { "date": "2024-01-12", "close": 208.04, "volume": 1882253, "typical_volume": 2323782.55, "trend": 191.027667, "fair_value": 222.892821, "relative_strength": -11.793071, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 44.710071, "energy": 37.971113, "activity_lines": [ 201.178, 198.845818, 188.188857, 188.089548 ] }, { "date": "2024-01-19", "close": 212.22, "volume": 1315927, "typical_volume": 2328330.6, "trend": 191.135, "fair_value": 222.526923, "relative_strength": -11.830543, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 46.56463, "energy": 42.058161, "activity_lines": [ 205.116667, 201.949091, 190.98081, 189.456796 ] }, { "date": "2024-01-26", "close": 214.0, "volume": 1663179, "typical_volume": 2338989.35, "trend": 191.385, "fair_value": 222.223846, "relative_strength": -10.981186, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 44.678709, "energy": 52.62197, "activity_lines": [ 208.780667, 204.609455, 193.863571, 190.931957 ] }, { "date": "2024-02-02", "close": 213.82, "volume": 1488530, "typical_volume": 2269618.2, "trend": 191.89, "fair_value": 221.857115, "relative_strength": -11.454005, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "up", "direction": 68.293653, "energy": 74.408684, "activity_lines": [ 211.496, 206.882909, 196.602714, 192.379376 ] }, { "date": "2024-02-09", "close": 221.1, "volume": 1041961, "typical_volume": 2243028.0, "trend": 192.394667, "fair_value": 221.494744, "relative_strength": -9.386978, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 75.908552, "energy": 80.933824, "activity_lines": [ 215.684, 210.105636, 199.857286, 194.263892 ] }, { "date": "2024-02-16", "close": 224.6, "volume": 1687560, "typical_volume": 2216915.35, "trend": 192.690333, "fair_value": 221.34141, "relative_strength": -5.880716, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 79.802881, "energy": 88.596631, "activity_lines": [ 219.272, 213.371818, 203.210857, 196.341656 ] }, { "date": "2024-02-23", "close": 238.2, "volume": 3633022, "typical_volume": 2240481.0, "trend": 193.430333, "fair_value": 221.396923, "relative_strength": -1.056893, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 88.086606, "energy": 91.586034, "activity_lines": [ 226.289333, 218.721636, 207.599667, 199.277763 ] }, { "date": "2024-03-01", "close": 248.75, "volume": 2296445, "typical_volume": 2152034.85, "trend": 194.689333, "fair_value": 221.572244, "relative_strength": 1.84174, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 90.821363, "energy": 94.873744, "activity_lines": [ 235.091333, 225.280545, 212.668048, 202.846774 ] }, { "date": "2024-03-08", "close": 239.03, "volume": 1438739, "typical_volume": 2085338.0, "trend": 195.383667, "fair_value": 221.637179, "relative_strength": -0.075682, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 70.511762, "energy": 87.553069, "activity_lines": [ 238.336667, 229.198, 216.381905, 205.707462 ] }, { "date": "2024-03-15", "close": 237.8, "volume": 1480294, "typical_volume": 2040047.8, "trend": 196.814333, "fair_value": 221.701026, "relative_strength": 1.12591, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 67.720725, "energy": 81.499502, "activity_lines": [ 239.491333, 232.173273, 219.584667, 208.444 ] }, { "date": "2024-03-22", "close": 261.21, "volume": 1828830, "typical_volume": 1988847.1, "trend": 198.960667, "fair_value": 221.946346, "relative_strength": 8.203572, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 88.426571, "energy": 87.993858, "activity_lines": [ 247.336, 238.619455, 224.609, 212.598559 ] }, { "date": "2024-03-29", "close": 260.62, "volume": 1960658, "typical_volume": 1973711.2, "trend": 201.125, "fair_value": 222.171218, "relative_strength": 9.043354, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 80.382883, "energy": 70.548596, "activity_lines": [ 252.543333, 243.991636, 229.133524, 216.576581 ] }, { "date": "2024-04-05", "close": 244.11, "volume": 1480493, "typical_volume": 1763916.5, "trend": 203.014, "fair_value": 222.253397, "relative_strength": 3.545393, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 64.885152, "energy": 62.766295, "activity_lines": [ 250.752667, 245.482, 231.654429, 219.349806 ] }, { "date": "2024-04-12", "close": 231.98, "volume": 1480328, "typical_volume": 1723739.0, "trend": 204.864667, "fair_value": 222.217115, "relative_strength": -0.429821, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 61.894493, "energy": 55.41242, "activity_lines": [ 245.228, 244.219455, 232.783952, 221.218581 ] }, { "date": "2024-04-19", "close": 224.19, "volume": 1368729, "typical_volume": 1677791.85, "trend": 206.608, "fair_value": 222.122179, "relative_strength": 2.165707, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 43.544007, "energy": 32.846609, "activity_lines": [ 237.576667, 241.210364, 232.987048, 222.465376 ] }, { "date": "2024-04-26", "close": 225.48, "volume": 1295898, "typical_volume": 1629093.75, "trend": 208.457333, "fair_value": 222.021218, "relative_strength": -0.734861, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 33.13888, "energy": 28.93493, "activity_lines": [ 231.262667, 238.379636, 233.143, 223.682925 ] }, { "date": "2024-05-03", "close": 221.48, "volume": 2043047, "typical_volume": 1640213.55, "trend": 210.176333, "fair_value": 221.941987, "relative_strength": -3.233602, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 17.409282, "energy": 26.308684, "activity_lines": [ 225.997333, 234.805636, 232.811905, 224.523097 ] }, { "date": "2024-05-10", "close": 225.15, "volume": 2525746, "typical_volume": 1689907.9, "trend": 212.391333, "fair_value": 221.919167, "relative_strength": -2.922734, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 9.103756, "energy": 22.161052, "activity_lines": [ 224.564667, 232.202909, 232.724238, 225.48914 ] }, { "date": "2024-05-17", "close": 193.55, "volume": 5405135, "typical_volume": 1924196.25, "trend": 213.633, "fair_value": 221.723269, "relative_strength": -17.90729, "stage": 4, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -23.729837, "energy": 33.619108, "activity_lines": [ 213.862667, 224.283818, 229.510476, 224.27357 ] }, { "date": "2024-05-24", "close": 189.66, "volume": 3409452, "typical_volume": 2036311.3, "trend": 214.884, "fair_value": 221.513654, "relative_strength": -20.263731, "stage": 4, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -45.585916, "energy": 63.49601, "activity_lines": [ 204.426, 216.484364, 225.954619, 222.726925 ] }, { "date": "2024-05-31", "close": 183.57, "volume": 2118830, "typical_volume": 2048140.15, "trend": 215.401333, "fair_value": 221.305321, "relative_strength": -21.060863, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -45.9902, "energy": 73.841287, "activity_lines": [ 195.261333, 208.452909, 221.842286, 220.706667 ] }, { "date": "2024-06-07", "close": 168.75, "volume": 8222829, "typical_volume": 2393485.25, "trend": 215.357667, "fair_value": 220.918974, "relative_strength": -28.693075, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -60.089305, "energy": 83.470028, "activity_lines": [ 183.950667, 199.138545, 216.435048, 217.696903 ] }, { "date": "2024-06-14", "close": 167.9, "volume": 4927242, "typical_volume": 2556688.4, "trend": 214.470333, "fair_value": 220.565, "relative_strength": -30.774478, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -51.891723, "energy": 81.753786, "activity_lines": [ 175.872, 191.34, 211.153857, 214.635118 ] }, { "date": "2024-06-21", "close": 164.67, "volume": 3081176, "typical_volume": 2636320.7, "trend": 213.518333, "fair_value": 220.059423, "relative_strength": -31.631594, "stage": 4, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -78.358654, "energy": 91.184856, "activity_lines": [ 170.533333, 184.339818, 205.784571, 211.422194 ] }, { "date": "2024-06-28", "close": 171.97, "volume": 3678832, "typical_volume": 2768164.25, "trend": 212.967667, "fair_value": 219.539808, "relative_strength": -27.994074, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -67.80737, "energy": 86.134778, "activity_lines": [ 169.553333, 179.890727, 201.344571, 208.741656 ] }, { "date": "2024-07-05", "close": 171.19, "volume": 1415505, "typical_volume": 2754561.5, "trend": 211.900667, "fair_value": 218.995769, "relative_strength": -30.242469, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -65.9469, "energy": 80.516809, "activity_lines": [ 169.492667, 176.249273, 197.064238, 206.046323 ] }, { "date": "2024-07-12", "close": 174.19, "volume": 2236194, "typical_volume": 2684720.1, "trend": 211.067, "fair_value": 218.475897, "relative_strength": -28.283921, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -63.489139, "energy": 63.354685, "activity_lines": [ 171.257333, 174.140364, 193.323952, 203.613376 ] }, { "date": "2024-07-19", "close": 176.9, "volume": 2536589, "typical_volume": 2696727.3, "trend": 210.274667, "fair_value": 217.768397, "relative_strength": -23.550367, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -51.004969, "energy": 52.405435, "activity_lines": [ 173.562667, 173.384, 190.146571, 201.409054 ] }, { "date": "2024-07-26", "close": 180.99, "volume": 2130412, "typical_volume": 2731310.95, "trend": 209.657333, "fair_value": 217.142372, "relative_strength": -19.147117, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -46.984073, "energy": 44.557486, "activity_lines": [ 176.631333, 174.248545, 187.700857, 199.51972 ] }, { "date": "2024-08-02", "close": 171.76, "volume": 1748520, "typical_volume": 2744722.25, "trend": 208.896, "fair_value": 216.486474, "relative_strength": -20.241812, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -49.105001, "energy": 41.968176, "activity_lines": [ 175.535333, 173.663273, 184.652476, 197.074731 ] }, { "date": "2024-08-09", "close": 157.57, "volume": 3523484, "typical_volume": 2829454.95, "trend": 207.213667, "fair_value": 215.798077, "relative_strength": -26.362832, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -75.27153, "energy": 53.921763, "activity_lines": [ 169.723333, 170.823455, 180.567143, 193.763376 ] }, { "date": "2024-08-16", "close": 177.3, "volume": 5025370, "typical_volume": 2982690.55, "trend": 206.049667, "fair_value": 215.171795, "relative_strength": -20.877334, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -56.725286, "energy": 45.650715, "activity_lines": [ 171.396, 172.043636, 178.854381, 191.833462 ] }, { "date": "2024-08-23", "close": 178.26, "volume": 2041150, "typical_volume": 3010723.4, "trend": 204.858333, "fair_value": 214.433462, "relative_strength": -20.713289, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -55.532684, "energy": 43.163056, "activity_lines": [ 173.181333, 173.282909, 177.62981, 190.040581 ] }, { "date": "2024-08-30", "close": 173.74, "volume": 2335095, "typical_volume": 3053461.75, "trend": 203.522333, "fair_value": 213.654872, "relative_strength": -21.613082, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -53.578766, "energy": 39.35988, "activity_lines": [ 173.369333, 173.512, 176.288333, 188.032946 ] }, { "date": "2024-09-06", "close": 159.14, "volume": 2108992, "typical_volume": 3090474.9, "trend": 201.457, "fair_value": 212.751346, "relative_strength": -23.305492, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -72.958989, "energy": 46.737856, "activity_lines": [ 169.174, 170.921636, 173.833714, 185.16957 ] }, { "date": "2024-09-13", "close": 164.93, "volume": 2382754, "typical_volume": 3144817.7, "trend": 199.468, "fair_value": 211.978526, "relative_strength": -24.556736, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -62.820199, "energy": 46.616193, "activity_lines": [ 167.75, 169.617273, 172.240286, 182.812989 ] }, { "date": "2024-09-20", "close": 164.89, "volume": 2060253, "typical_volume": 3145678.0, "trend": 197.024333, "fair_value": 211.172179, "relative_strength": -25.244031, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -60.20444, "energy": 49.502333, "activity_lines": [ 165.822, 168.419455, 170.931381, 180.582151 ] }, { "date": "2024-09-27", "close": 171.44, "volume": 2271199, "typical_volume": 3132950.65, "trend": 194.447333, "fair_value": 210.488077, "relative_strength": -22.662696, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -56.7427, "energy": 44.723932, "activity_lines": [ 166.904667, 168.581636, 170.515762, 178.931548 ] }, { "date": "2024-10-04", "close": 171.03, "volume": 1963510, "typical_volume": 2960869.4, "trend": 192.180667, "fair_value": 209.888782, "relative_strength": -22.551601, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -51.763909, "energy": 33.996399, "activity_lines": [ 168.305333, 168.768545, 170.316857, 177.420753 ] }, { "date": "2024-10-11", "close": 171.09, "volume": 2600765, "typical_volume": 2920435.05, "trend": 189.957, "fair_value": 209.204103, "relative_strength": -23.177396, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -38.361134, "energy": 22.982954, "activity_lines": [ 169.906667, 169.147455, 170.230905, 176.060065 ] }, { "date": "2024-10-18", "close": 179.71, "volume": 2863840, "typical_volume": 2957685.55, "trend": 187.240333, "fair_value": 208.551346, "relative_strength": -19.211432, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -10.578847, "energy": 10.263305, "activity_lines": [ 173.584667, 171.105818, 171.054333, 175.398968 ] }, { "date": "2024-10-25", "close": 174.33, "volume": 2011497, "typical_volume": 2647118.95, "trend": 184.364, "fair_value": 207.854615, "relative_strength": -21.456869, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -15.673548, "energy": 12.336232, "activity_lines": [ 174.484, 171.683455, 171.383762, 174.566043 ] }, { "date": "2024-11-01", "close": 171.91, "volume": 1792011, "typical_volume": 2490357.4, "trend": 181.957333, "fair_value": 207.184038, "relative_strength": -20.928801, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -14.279475, "energy": 10.875873, "activity_lines": [ 173.947333, 171.875091, 171.456143, 173.762559 ] }, { "date": "2024-11-08", "close": 189.99, "volume": 2684575, "typical_volume": 2470527.35, "trend": 180.557667, "fair_value": 206.403718, "relative_strength": -16.855161, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": 13.101109, "energy": 19.211482, "activity_lines": [ 179.406, 175.469455, 173.231333, 174.280796 ] }, { "date": "2024-11-15", "close": 172.62, "volume": 6952567, "typical_volume": 2634214.1, "trend": 178.838667, "fair_value": 205.642949, "relative_strength": -21.23954, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -10.789431, "energy": 12.417361, "activity_lines": [ 177.810667, 175.610182, 173.231667, 173.768688 ] }, { "date": "2024-11-22", "close": 176.16, "volume": 2404159, "typical_volume": 2683646.8, "trend": 177.194667, "fair_value": 205.001538, "relative_strength": -20.56624, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 8.095543, "energy": 11.699036, "activity_lines": [ 177.293333, 176.149455, 173.566048, 173.595871 ] }, { "date": "2024-11-29", "close": 182.44, "volume": 1569168, "typical_volume": 2650295.5, "trend": 175.893333, "fair_value": 204.325769, "relative_strength": -17.908266, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 26.316258, "energy": 29.210784, "activity_lines": [ 179.106, 177.626364, 174.474857, 173.93428 ] }, { "date": "2024-12-06", "close": 189.81, "volume": 1803862, "typical_volume": 2613659.15, "trend": 174.715333, "fair_value": 203.597692, "relative_strength": -16.715612, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 62.700583, "energy": 40.358274, "activity_lines": [ 182.834667, 180.124182, 176.046286, 174.832129 ] }, { "date": "2024-12-13", "close": 186.67, "volume": 2005630, "typical_volume": 2607420.05, "trend": 174.486, "fair_value": 202.925769, "relative_strength": -18.199169, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 57.656521, "energy": 48.782392, "activity_lines": [ 184.323333, 181.717091, 177.25719, 175.603398 ] }, { "date": "2024-12-20", "close": 176.02, "volume": 1991183, "typical_volume": 2619553.2, "trend": 174.031333, "fair_value": 202.090256, "relative_strength": -20.552447, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 49.262106, "energy": 38.605543, "activity_lines": [ 182.483333, 181.089273, 177.426762, 175.702366 ] }, { "date": "2024-12-27", "close": 173.45, "volume": 951477, "typical_volume": 2490952.85, "trend": 173.694, "fair_value": 201.255962, "relative_strength": -21.865153, "stage": 4, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 31.888673, "energy": 18.067163, "activity_lines": [ 179.56, 179.904545, 177.331286, 175.66486 ] }, { "date": "2025-01-03", "close": 169.8, "volume": 911147, "typical_volume": 2285241.7, "trend": 173.729, "fair_value": 200.564038, "relative_strength": -22.338875, "stage": 4, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 17.108696, "energy": 12.41586, "activity_lines": [ 175.600667, 178.17, 176.812571, 175.413634 ] }, { "date": "2025-01-10", "close": 161.66, "volume": 1385072, "typical_volume": 2252437.8, "trend": 173.521, "fair_value": 199.905385, "relative_strength": -23.732693, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -25.106342, "energy": 25.413801, "activity_lines": [ 169.770667, 175.037818, 175.554333, 174.634989 ] }, { "date": "2025-01-17", "close": 162.4, "volume": 2223427, "typical_volume": 2246854.4, "trend": 173.445333, "fair_value": 199.36, "relative_strength": -24.843795, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -24.428405, "energy": 35.312933, "activity_lines": [ 166.064, 172.226545, 174.445619, 173.917505 ] }, { "date": "2025-01-24", "close": 161.88, "volume": 2356632, "typical_volume": 2259236.4, "trend": 173.109, "fair_value": 198.832051, "relative_strength": -25.500705, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -25.675069, "energy": 45.418639, "activity_lines": [ 163.802, 169.822364, 173.341381, 173.171355 ] }, { "date": "2025-01-31", "close": 166.14, "volume": 2807303, "typical_volume": 2280463.85, "trend": 172.940667, "fair_value": 198.265641, "relative_strength": -21.79388, "stage": 4, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -57.56024, "energy": 55.71454, "activity_lines": [ 163.902667, 168.388, 172.62981, 172.721742 ] }, { "date": "2025-02-07", "close": 169.47, "volume": 2669881, "typical_volume": 2310945.25, "trend": 172.783333, "fair_value": 197.672179, "relative_strength": -19.620149, "stage": 4, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -53.386657, "energy": 37.654551, "activity_lines": [ 165.600667, 167.741273, 172.229619, 172.497828 ] }, { "date": "2025-02-14", "close": 176.49, "volume": 1797880, "typical_volume": 2287279.3, "trend": 172.769667, "fair_value": 197.331474, "relative_strength": -17.888957, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -28.028827, "energy": 15.403413, "activity_lines": [ 169.660667, 168.606727, 172.47619, 172.736968 ] }, { "date": "2025-02-21", "close": 155.39, "volume": 6598489, "typical_volume": 2519028.25, "trend": 171.916333, "fair_value": 196.869359, "relative_strength": -25.134198, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -65.1636, "energy": 30.801315, "activity_lines": [ 165.698667, 165.878, 170.68919, 171.615699 ] }, { "date": "2025-02-28", "close": 139.18, "volume": 5715666, "typical_volume": 2674773.3, "trend": 170.830333, "fair_value": 196.309551, "relative_strength": -29.593586, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -78.056536, "energy": 57.772418, "activity_lines": [ 156.800667, 160.770727, 167.432857, 169.503677 ] }, { "date": "2025-03-07", "close": 149.8, "volume": 4154597, "typical_volume": 2739311.15, "trend": 170.571333, "fair_value": 195.927756, "relative_strength": -20.744906, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -62.663247, "energy": 64.075516, "activity_lines": [ 152.956, 158.264182, 165.339905, 168.146882 ] }, { "date": "2025-03-14", "close": 144.61, "volume": 3196756, "typical_volume": 2798574.1, "trend": 169.481667, "fair_value": 195.442179, "relative_strength": -20.563103, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -68.126185, "energy": 74.901702, "activity_lines": [ 148.470667, 155.244, 162.895095, 166.471957 ] }, { "date": "2025-03-21", "close": 156.78, "volume": 2971672, "typical_volume": 2857557.15, "trend": 168.765667, "fair_value": 195.0525, "relative_strength": -12.934196, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -60.215677, "energy": 68.671827, "activity_lines": [ 149.699333, 154.894545, 161.750857, 165.652495 ] }, { "date": "2025-03-28", "close": 155.48, "volume": 3134561, "typical_volume": 2880056.45, "trend": 168.157, "fair_value": 194.617628, "relative_strength": -10.404195, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -57.314111, "energy": 42.232062, "activity_lines": [ 151.808667, 154.397455, 160.554857, 164.795355 ] }, { "date": "2025-04-04", "close": 141.3, "volume": 2188244, "typical_volume": 2641840.3, "trend": 167.562333, "fair_value": 194.101667, "relative_strength": -8.6014, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -69.39856, "energy": 43.985061, "activity_lines": [ 149.185333, 151.448, 158.172714, 163.062645 ] }, { "date": "2025-04-11", "close": 152.61, "volume": 2832272, "typical_volume": 2663245.95, "trend": 167.151667, "fair_value": 193.708141, "relative_strength": -7.219285, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -52.392034, "energy": 32.031607, "activity_lines": [ 150.190667, 150.929091, 157.016857, 162.097978 ] }, { "date": "2025-04-18", "close": 149.75, "volume": 1284410, "typical_volume": 2649008.05, "trend": 166.647, "fair_value": 193.366474, "relative_strength": -5.811919, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -52.968778, "energy": 32.857198, "activity_lines": [ 150.055333, 150.136182, 155.700762, 160.97529 ] }, { "date": "2025-04-25", "close": 155.01, "volume": 1363985, "typical_volume": 2627014.2, "trend": 166.099333, "fair_value": 193.036987, "relative_strength": -7.388728, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -40.367565, "energy": 26.900741, "activity_lines": [ 151.330667, 150.658182, 155.041286, 160.224516 ] }, { "date": "2025-05-02", "close": 157.39, "volume": 783789, "typical_volume": 2565922.15, "trend": 165.644667, "fair_value": 192.800449, "relative_strength": -8.150495, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -35.412812, "energy": 18.024902, "activity_lines": [ 153.517333, 152.003455, 154.77419, 159.662624 ] }, { "date": "2025-05-09", "close": 164.42, "volume": 1196833, "typical_volume": 2526204.65, "trend": 165.422333, "fair_value": 192.554038, "relative_strength": -2.944559, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -19.834722, "energy": 13.958971, "activity_lines": [ 157.92, 154.590545, 155.316048, 159.583613 ] }, { "date": "2025-05-16", "close": 163.43, "volume": 3656056, "typical_volume": 2661433.6, "trend": 164.879667, "fair_value": 192.374615, "relative_strength": -9.141134, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -7.004682, "energy": 12.964987, "activity_lines": [ 160.451333, 156.538727, 155.818857, 159.455075 ] }, { "date": "2025-05-23", "close": 159.94, "volume": 2210430, "typical_volume": 2726397.75, "trend": 164.4, "fair_value": 192.100833, "relative_strength": -8.415054, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -9.914979, "energy": 15.927779, "activity_lines": [ 161.098, 157.604545, 156.037, 159.136387 ] }, { "date": "2025-05-30", "close": 165.93, "volume": 2015299, "typical_volume": 2757909.1, "trend": 164.200667, "fair_value": 191.883269, "relative_strength": -6.318155, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": 1.571085, "energy": 15.997707, "activity_lines": [ 163.062, 159.480727, 156.872571, 159.235097 ] }, { "date": "2025-06-06", "close": 176.7, "volume": 1907710, "typical_volume": 2742123.25, "trend": 163.757667, "fair_value": 191.747179, "relative_strength": -2.089039, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 35.072976, "energy": 45.216884, "activity_lines": [ 167.888, 163.148727, 158.713524, 160.041505 ] }, { "date": "2025-06-13", "close": 165.68, "volume": 2325014, "typical_volume": 2740542.35, "trend": 163.526333, "fair_value": 191.574936, "relative_strength": -7.480561, "stage": 1, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 18.591778, "energy": 35.984739, "activity_lines": [ 167.753333, 164.427273, 159.436857, 160.165527 ] }, { "date": "2025-06-20", "close": 162.61, "volume": 2171636, "typical_volume": 2708759.0, "trend": 163.074667, "fair_value": 191.300192, "relative_strength": -8.985237, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 16.289662, "energy": 27.218863, "activity_lines": [ 166.511333, 164.704364, 159.849714, 160.106409 ] }, { "date": "2025-06-27", "close": 165.09, "volume": 1784361, "typical_volume": 2664483.0, "trend": 162.496333, "fair_value": 191.12, "relative_strength": -10.978848, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 22.586819, "energy": 20.117928, "activity_lines": [ 166.150667, 165.250545, 160.515571, 160.23643 ] }, { "date": "2025-07-04", "close": 170.19, "volume": 1358575, "typical_volume": 2642517.75, "trend": 161.842333, "fair_value": 190.898013, "relative_strength": -9.359052, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 29.279706, "energy": 19.363845, "activity_lines": [ 167.146667, 166.445091, 161.688, 160.732796 ] }, { "date": "2025-07-11", "close": 154.84, "volume": 1794393, "typical_volume": 2402312.95, "trend": 160.781333, "fair_value": 190.620897, "relative_strength": -16.880448, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": -6.098306, "energy": 7.156125, "activity_lines": [ 162.742, 164.572727, 161.428524, 160.281032 ] }, { "date": "2025-07-18", "close": 153.41, "volume": 2206686, "typical_volume": 2226863.95, "trend": 160.027667, "fair_value": 190.266667, "relative_strength": -18.211474, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -15.155245, "energy": 13.347725, "activity_lines": [ 159.318, 162.486727, 161.035476, 159.805462 ] }, { "date": "2025-07-25", "close": 162.42, "volume": 2337471, "typical_volume": 2136007.65, "trend": 159.66, "fair_value": 189.935897, "relative_strength": -13.660848, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 25.015217, "energy": 16.686361, "activity_lines": [ 159.715333, 162.239091, 161.432762, 159.959806 ] }, { "date": "2025-08-01", "close": 152.61, "volume": 4400510, "typical_volume": 2196195.35, "trend": 159.087, "fair_value": 189.497115, "relative_strength": -16.517706, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -17.048724, "energy": 19.566487, "activity_lines": [ 156.855333, 160.226182, 160.835667, 159.504968 ] }, { "date": "2025-08-08", "close": 148.66, "volume": 2495810, "typical_volume": 2172402.25, "trend": 158.653667, "fair_value": 188.967949, "relative_strength": -21.17675, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -22.568187, "energy": 29.736101, "activity_lines": [ 153.510667, 157.628364, 159.824286, 158.832258 ] }, { "date": "2025-08-15", "close": 133.16, "volume": 6485472, "typical_volume": 2339947.8, "trend": 157.679, "fair_value": 188.398846, "relative_strength": -29.135795, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -69.735001, "energy": 64.363026, "activity_lines": [ 146.434667, 152.526364, 157.375381, 157.187505 ] }, { "date": "2025-08-22", "close": 142.5, "volume": 4156157, "typical_volume": 2438343.45, "trend": 157.033, "fair_value": 187.946154, "relative_strength": -22.886932, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -63.29995, "energy": 67.79317, "activity_lines": [ 143.917333, 149.914182, 155.922286, 156.208215 ] }, { "date": "2025-08-29", "close": 141.35, "volume": 2852349, "typical_volume": 2439347.3, "trend": 156.206667, "fair_value": 187.514551, "relative_strength": -22.751452, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -62.314162, "energy": 69.217339, "activity_lines": [ 141.744, 147.514364, 154.353952, 155.196409 ] }, { "date": "2025-09-05", "close": 140.41, "volume": 3585006, "typical_volume": 2554377.1, "trend": 155.238, "fair_value": 187.052885, "relative_strength": -23.501302, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -65.228925, "energy": 70.10886, "activity_lines": [ 140.662, 145.330182, 152.749714, 154.177269 ] }, { "date": "2025-09-12", "close": 142.81, "volume": 2081137, "typical_volume": 2590234.7, "trend": 154.115333, "fair_value": 186.686026, "relative_strength": -23.110052, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -61.398277, "energy": 57.282575, "activity_lines": [ 141.193333, 144.031091, 151.418524, 153.375462 ] }, { "date": "2025-09-19", "close": 153.44, "volume": 2806167, "typical_volume": 2691353.6, "trend": 154.050333, "fair_value": 186.455577, "relative_strength": -18.702966, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -43.67237, "energy": 29.202325, "activity_lines": [ 145.658, 145.162545, 151.15781, 153.331892 ] }, { "date": "2025-09-26", "close": 145.78, "volume": 3147922, "typical_volume": 2788908.05, "trend": 154.270333, "fair_value": 186.183397, "relative_strength": -21.891197, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -39.759743, "energy": 23.589966, "activity_lines": [ 146.217333, 144.926727, 150.186381, 152.798323 ] }, { "date": "2025-10-03", "close": 138.2, "volume": 2632362, "typical_volume": 2737723.35, "trend": 153.883667, "fair_value": 185.82859, "relative_strength": -26.277608, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -50.900823, "energy": 27.729772, "activity_lines": [ 144.031333, 143.451455, 148.58181, 151.761527 ] }, { "date": "2025-10-10", "close": 133.85, "volume": 2421954, "typical_volume": 2748299.55, "trend": 153.525, "fair_value": 185.520064, "relative_strength": -26.387362, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -66.933265, "energy": 39.300597, "activity_lines": [ 140.605333, 141.625636, 146.683095, 150.469032 ] }, { "date": "2025-10-17", "close": 129.88, "volume": 2760608, "typical_volume": 2785565.0, "trend": 152.628333, "fair_value": 185.123654, "relative_strength": -29.617799, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -70.77399, "energy": 65.420981, "activity_lines": [ 136.293333, 139.419091, 144.530524, 148.943548 ] }, { "date": "2025-10-24", "close": 132.3, "volume": 2508334, "typical_volume": 2815596.2, "trend": 151.855667, "fair_value": 184.739551, "relative_strength": -29.215265, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -63.310074, "energy": 69.318938, "activity_lines": [ 133.65, 137.994, 142.780095, 147.632043 ] }, { "date": "2025-10-31", "close": 136.66, "volume": 2109693, "typical_volume": 2804830.15, "trend": 151.701, "fair_value": 184.506859, "relative_strength": -27.642908, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -61.80125, "energy": 69.974123, "activity_lines": [ 133.869333, 137.377273, 141.656333, 146.651677 ] }, { "date": "2025-11-07", "close": 123.99, "volume": 2599992, "typical_volume": 2826247.95, "trend": 150.747, "fair_value": 184.025705, "relative_strength": -31.532646, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -78.385345, "energy": 75.450052, "activity_lines": [ 130.473333, 134.563091, 139.464095, 144.863871 ] }, { "date": "2025-11-14", "close": 133.38, "volume": 5848970, "typical_volume": 3029478.4, "trend": 150.201333, "fair_value": 183.615705, "relative_strength": -25.612894, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -60.850177, "energy": 58.948028, "activity_lines": [ 131.154667, 133.771818, 138.350048, 143.743419 ] }, { "date": "2025-11-21", "close": 105.11, "volume": 11208568, "typical_volume": 3521978.05, "trend": 148.538, "fair_value": 183.059487, "relative_strength": -38.825456, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -88.695292, "energy": 77.287578, "activity_lines": [ 122.444, 127.968364, 134.694619, 140.834301 ] }, { "date": "2025-11-28", "close": 106.07, "volume": 3349426, "typical_volume": 3599729.7, "trend": 146.827333, "fair_value": 182.464551, "relative_strength": -40.434044, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -83.548344, "energy": 87.045821, "activity_lines": [ 115.704667, 123.024909, 131.440524, 138.09443 ] }, { "date": "2025-12-05", "close": 106.2, "volume": 4175704, "typical_volume": 3698180.6, "trend": 144.886667, "fair_value": 181.881218, "relative_strength": -40.184391, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -75.722957, "energy": 88.168568, "activity_lines": [ 110.757333, 118.966364, 128.431048, 135.473312 ] }, { "date": "2025-12-12", "close": 109.24, "volume": 3093063, "typical_volume": 3735960.2, "trend": 143.080333, "fair_value": 181.30641, "relative_strength": -36.527385, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -66.136922, "energy": 85.140057, "activity_lines": [ 108.854, 116.180182, 125.935905, 133.173527 ] }, { "date": "2025-12-19", "close": 109.03, "volume": 3017243, "typical_volume": 3666796.85, "trend": 141.383333, "fair_value": 180.757436, "relative_strength": -36.282945, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -64.253747, "energy": 80.834021, "activity_lines": [ 107.864, 113.882364, 123.674, 130.976731 ] }, { "date": "2025-12-26", "close": 112.69, "volume": 3285043, "typical_volume": 3706258.5, "trend": 139.608667, "fair_value": 180.247115, "relative_strength": -34.252955, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -62.566788, "energy": 58.001111, "activity_lines": [ 109.717333, 112.701273, 121.96819, 129.125548 ] }, { "date": "2026-01-02", "close": 111.935, "volume": 2676875, "typical_volume": 3515828.65, "trend": 137.449833, "fair_value": 179.760673, "relative_strength": -32.857699, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -59.294322, "energy": 51.627185, "activity_lines": [ 110.813667, 111.695455, 120.361762, 127.340151 ] }, { "date": "2026-01-09", "close": 117.07, "volume": 2759529, "typical_volume": 3445997.25, "trend": 135.8295, "fair_value": 179.235417, "relative_strength": -30.638758, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -45.532862, "energy": 39.15881, "activity_lines": [ 113.230667, 111.993545, 119.345452, 126.025323 ] }, { "date": "2026-01-16", "close": 112.185, "volume": 5218277, "typical_volume": 3564293.65, "trend": 134.148667, "fair_value": 178.636603, "relative_strength": -32.317245, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -41.907837, "energy": 33.356997, "activity_lines": [ 113.294667, 111.759636, 117.985, 124.499871 ] }, { "date": "2026-01-23", "close": 114.44, "volume": 2885801, "typical_volume": 3529333.4, "trend": 132.460333, "fair_value": 178.001282, "relative_strength": -30.500446, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -40.184894, "energy": 30.067485, "activity_lines": [ 113.914, 112.150364, 116.97819, 123.228344 ] }, { "date": "2026-01-30", "close": 106.41, "volume": 3376174, "typical_volume": 3594085.25, "trend": 130.334333, "fair_value": 177.270256, "relative_strength": -34.581848, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -53.785939, "energy": 35.55402, "activity_lines": [ 111.496, 111.425455, 115.330286, 121.547677 ] }, { "date": "2026-02-06", "close": 111.86, "volume": 5283790, "typical_volume": 3717966.4, "trend": 128.901667, "fair_value": 176.568077, "relative_strength": -29.111652, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -51.397744, "energy": 36.276617, "activity_lines": [ 111.313333, 111.667818, 114.374762, 120.355785 ] }, { "date": "2026-02-13", "close": 103.55, "volume": 6481189, "typical_volume": 3884629.75, "trend": 127.239667, "fair_value": 175.825705, "relative_strength": -32.747838, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -66.361396, "energy": 45.540681, "activity_lines": [ 108.365667, 110.294, 112.82581, 118.720194 ] }, { "date": "2026-02-20", "close": 117.69, "volume": 6905407, "typical_volume": 4098282.0, "trend": 125.748667, "fair_value": 175.2725, "relative_strength": -23.83656, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -51.814195, "energy": 36.387734, "activity_lines": [ 111.032667, 111.539273, 112.824619, 118.104086 ] }, { "date": "2026-02-27", "close": 116.25, "volume": 4307937, "typical_volume": 4192581.15, "trend": 124.536667, "fair_value": 174.649936, "relative_strength": -24.098038, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -36.473665, "energy": 21.673029, "activity_lines": [ 112.852667, 112.369091, 112.783952, 117.491269 ] }, { "date": "2026-03-06", "close": 127.52, "volume": 4803956, "typical_volume": 4294748.55, "trend": 123.832, "fair_value": 174.15641, "relative_strength": -15.087449, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": 4.002539, "energy": 10.786143, "activity_lines": [ 118.308667, 115.116727, 113.900429, 117.683742 ] }, { "date": "2026-03-13", "close": 117.39, "volume": 2258568, "typical_volume": 4282260.25, "trend": 123.306333, "fair_value": 173.545385, "relative_strength": -20.395263, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -9.797749, "energy": 18.583298, "activity_lines": [ 118.980667, 115.752909, 114.063381, 117.268129 ] }, { "date": "2026-03-20", "close": 118.36, "volume": 1833416, "typical_volume": 4268446.4, "trend": 122.501667, "fair_value": 172.9575, "relative_strength": -17.333786, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -9.210532, "energy": 17.539006, "activity_lines": [ 119.607333, 116.466273, 114.389714, 116.949011 ] }, { "date": "2026-03-27", "close": 108.35, "volume": 2704769, "typical_volume": 4273685.25, "trend": 121.401667, "fair_value": 172.184808, "relative_strength": -20.934486, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -26.617646, "energy": 14.978704, "activity_lines": [ 115.91, 115.336182, 113.849857, 116.036 ] }, { "date": "2026-04-03", "close": 113.2, "volume": 2167165, "typical_volume": 4089595.0, "trend": 120.494667, "fair_value": 171.465577, "relative_strength": -19.655186, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -31.510062, "energy": 16.457526, "activity_lines": [ 114.452, 115.157636, 113.846381, 115.50686 ] }, { "date": "2026-04-10", "close": 97.0, "volume": 2413627, "typical_volume": 3649847.95, "trend": 118.967667, "fair_value": 170.630256, "relative_strength": -33.138617, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -67.473303, "energy": 41.117622, "activity_lines": [ 107.797333, 112.056182, 112.396143, 113.991075 ] }, { "date": "2026-04-17", "close": 105.25, "volume": 3445820, "typical_volume": 3654667.65, "trend": 117.361333, "fair_value": 169.965192, "relative_strength": -30.684554, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -55.275686, "energy": 41.893408, "activity_lines": [ 105.927333, 110.625818, 111.770238, 113.106065 ] }, { "date": "2026-04-24", "close": 100.35, "volume": 2429395, "typical_volume": 3567352.2, "trend": 115.847, "fair_value": 169.300705, "relative_strength": -34.375206, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -61.971031, "energy": 57.50476, "activity_lines": [ 103.233333, 108.424727, 110.681571, 112.008559 ] }, { "date": "2026-05-01", "close": 112.9, "volume": 2446459, "typical_volume": 3535022.0, "trend": 115.003667, "fair_value": 168.824231, "relative_strength": -26.33522, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -50.391966, "energy": 45.062674, "activity_lines": [ 105.923333, 108.563636, 110.816, 111.81843 ] }, { "date": "2026-05-08", "close": 92.73, "volume": 6768830, "typical_volume": 3722601.35, "trend": 113.633, "fair_value": 168.264487, "relative_strength": -41.623913, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -66.415503, "energy": 41.464788, "activity_lines": [ 101.586667, 105.122364, 109.012048, 110.381419 ] }, { "date": "2026-05-15", "close": 89.76, "volume": 4539077, "typical_volume": 3785303.05, "trend": 112.295667, "fair_value": 167.614038, "relative_strength": -42.37791, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -68.448025, "energy": 50.744466, "activity_lines": [ 97.624667, 101.568727, 107.002857, 108.841226 ] }, { "date": "2026-05-22", "close": 94.46, "volume": 2790790, "typical_volume": 3790998.8, "trend": 111.034333, "fair_value": 167.013205, "relative_strength": -39.109964, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -59.528798, "energy": 49.499211, "activity_lines": [ 95.712, 99.556182, 105.550476, 107.690538 ] }, { "date": "2026-05-29", "close": 92.66, "volume": 3427181, "typical_volume": 3824381.4, "trend": 109.567667, "fair_value": 166.282885, "relative_strength": -40.924209, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -61.668239, "energy": 61.950713, "activity_lines": [ 93.918667, 97.633273, 104.009881, 106.505097 ] }, { "date": "2026-06-05", "close": 93.14, "volume": 3944191, "typical_volume": 3760677.1, "trend": 108.539333, "fair_value": 165.495833, "relative_strength": -36.656219, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -57.847383, "energy": 58.761946, "activity_lines": [ 92.798, 96.264909, 102.631238, 105.445247 ] }, { "date": "2026-06-12", "close": 88.71, "volume": 4258339, "typical_volume": 3829304.0, "trend": 107.050333, "fair_value": 164.631154, "relative_strength": -39.964461, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -65.255123, "energy": 55.363318, "activity_lines": [ 91.518, 94.367636, 100.921381, 104.165935 ] }, { "date": "2026-06-19", "close": 84.68, "volume": 3276835, "typical_volume": 3824337.05, "trend": 106.369333, "fair_value": 163.834231, "relative_strength": -43.140303, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -68.76375, "energy": 55.860168, "activity_lines": [ 89.162667, 92.182909, 98.950238, 102.722688 ] }, { "date": "2026-06-26", "close": 91.99, "volume": 3154649, "typical_volume": 3717880.0, "trend": 105.9, "fair_value": 163.100192, "relative_strength": -34.24073, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -57.91083, "energy": 45.111575, "activity_lines": [ 89.582667, 91.551273, 97.778762, 101.794989 ] }, { "date": "2026-07-03", "close": 96.74, "volume": 1882563, "typical_volume": 3487948.7, "trend": 105.584667, "fair_value": 162.446795, "relative_strength": -30.274828, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -53.368429, "energy": 34.437575, "activity_lines": [ 91.750667, 92.024364, 97.154286, 101.204022 ] }, { "date": "2026-07-10", "close": 99.74, "volume": 1815999, "typical_volume": 3233478.3, "trend": 105.268, "fair_value": 161.765897, "relative_strength": -28.380582, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -38.674008, "energy": 23.306483, "activity_lines": [ 94.646667, 93.108545, 96.847952, 100.826946 ] }, { "date": "2026-07-17", "close": 100.15, "volume": 1972102, "typical_volume": 3116686.55, "trend": 104.972, "fair_value": 161.025, "relative_strength": -23.97232, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -32.073845, "energy": 20.151201, "activity_lines": [ 97.239333, 94.506545, 96.666143, 100.496753 ] }, { "date": "2026-07-24", "close": 90.26, "volume": 3971477, "typical_volume": 3075062.6, "trend": 104.224333, "fair_value": 160.218974, "relative_strength": -29.248847, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -40.525762, "energy": 21.494153, "activity_lines": [ 95.772667, 93.971455, 95.619095, 99.547591 ] }, { "date": "2026-07-31", "close": 98.79, "volume": 3342705, "typical_volume": 3129269.45, "trend": 103.786167, "fair_value": 159.499808, "relative_strength": -21.914956, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -29.31883, "energy": 16.521053, "activity_lines": [ 96.777333, 94.978182, 95.561857, 99.196989 ] }, { "date": "2026-08-07", "close": 101.85, "volume": 4225388, "typical_volume": 3248868.05, "trend": 103.278833, "fair_value": 158.753974, "relative_strength": -22.433818, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -9.368663, "energy": 9.798349, "activity_lines": [ 98.348667, 96.462545, 95.884619, 99.072075 ] } ], "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." } } }