{ "ticker": { "uuid": "10eed218-15ab-488b-81c8-fab98cc55e46", "symbol": "MFDD", "name": "Amundi MSCI EMU ESG Broad Transition UCITS ETF DIST", "exchange": "MIL", "country": "IT", "assetType": "etf" }, "methodBoundary": "Trend Architecture is a weekly structural classification, not a forecast, probability of return, recommendation or execution signal. Confidence measures geometric agreement and external confirmation only.", "analysis": { "eligible": true, "as_of": "2026-08-07", "benchmark": "FTSEMIB.MI", "stage": 2, "stage_name": "Advancing", "phase": "2b", "phase_label": "Stage 2B \u00b7 Advancing", "transition": "stage_2_healthy", "transition_label": "Stage 2 trend intact", "confidence": 94.934, "architecture_regime": "upward_expansion", "architecture_regime_label": "Upward Expansion", "architecture_modifier": "Established expansion", "architecture_gate": "up", "architecture_direction": 81.424, "architecture_energy": 63.379, "architecture_maturity": 69.863, "architecture_confidence": 61.898, "architecture_tenure": "Established", "architecture": { "interpretation": { "headline": "The weekly architecture is expanding upward.", "body": "Trend and Activity show sustained positive alignment with constructive price acceptance. Directional energy remains positive; cooling within this regime can indicate that it is maturing." }, "scores": { "balance": 13.96, "rotation_up": 52.84, "upward_expansion": 81.74, "deceleration": 70.38, "rotation_down": 28.28, "downward_expansion": 10.74 }, "activity_lines": [ 254.086663, 253.31727, 248.650236, 243.867095 ], "activity_state": "Wide", "activity_direction": "Contracting", "rotation_direction": "Weakening", "price_acceptance": 0.5 }, "latest_close": 259.049988, "trend_reference": 238.928333, "distance_from_trend": 0.084216, "trend_direction": "Improving", "fair_value": 205.816369, "distance_from_fair_value": 0.258646, "fair_value_direction": "Improving", "relative_strength": -3.327047, "relative_strength_direction": "Improving", "price_momentum": 0.104926, "excess_performance": -0.065965, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.084216, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.043475, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.258646, "read": "Premium" }, { "label": "Fair Value direction", "positive": true, "value": 0.07988, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.03327, "read": "Lagging" }, { "label": "Relative strength direction", "positive": true, "value": 0.018183, "read": "Improving" }, { "label": "Price momentum", "positive": true, "value": 0.104926, "read": "Positive" }, { "label": "Volume balance", "positive": true, "value": 1.149746, "read": "Demand-led" } ], "volume": { "latest": 814, "relative_activity": 0.685156, "balance": 1.149746, "dry_up": 1.245949, "accumulation_observations": 4, "distribution_observations": 2 }, "risk": { "range_context": 0.020029, "annualized_volatility": 0.174472, "from_high_reference": -0.004228, "from_low_reference": 0.255269 }, "levels": { "trend_reference": 238.928333, "fair_value_reference": 205.816369, "structural_low": 210.5, "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis." }, "outcomes": [ { "horizon": "Near term", "sample_count": 11, "median_return": 0.036529, "positive_rate": 0.636364, "directional_follow_through": 0.636364, "median_excess_return": -0.004323, "regime_survival": 0.909091, "best_return": 0.046348, "worst_return": -0.037679, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 3, "median_return": 0.032383, "positive_rate": 1.0, "directional_follow_through": 1.0, "median_excess_return": 0.00183, "regime_survival": 1.0, "best_return": 0.090696, "worst_return": 0.021201, "sufficient": false }, { "horizon": "Extended", "sample_count": 1, "median_return": 0.126017, "positive_rate": 1.0, "directional_follow_through": 1.0, "median_excess_return": 0.00719, "regime_survival": 1.0, "best_return": 0.126017, "worst_return": 0.126017, "sufficient": false }, { "horizon": "Full cycle", "sample_count": 0, "median_return": null, "positive_rate": null, "directional_follow_through": null, "median_excess_return": null, "regime_survival": null, "best_return": null, "worst_return": null, "sufficient": false } ], "ledger": [ { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-08-29", "end": "2026-03-13", "tenure": "Extended", "return": 0.052057, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2026-03-20", "end": "2026-04-10", "tenure": "New", "return": 0.085575, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-04-17", "end": "2026-05-01", "tenure": "New", "return": -0.021596, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-05-08", "end": "2026-08-07", "tenure": "Established", "return": 0.093961, "active": true } ], "chart_path": [ { "date": "2024-02-23", "close": 173.991928, "volume": 80, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-03-01", "close": 174.544525, "volume": 125, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-03-08", "close": 176.793015, "volume": 393, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-03-15", "close": 177.593323, "volume": 885, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-03-22", "close": 179.613174, "volume": 399, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-03-29", "close": 181.48056, "volume": 337, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-04-05", "close": 178.71759, "volume": 425, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-04-12", "close": 177.040756, "volume": 602, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-04-19", "close": 175.402008, "volume": 937, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-04-26", "close": 179.34642, "volume": 98, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-05-03", "close": 178.98436, "volume": 38, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-05-10", "close": 185.539307, "volume": 17, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-05-17", "close": 186.530182, "volume": 114, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-05-24", "close": 185.806091, "volume": 70, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-05-31", "close": 184.376953, "volume": 171, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-06-07", "close": 186.130005, "volume": 419, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-06-14", "close": 185.653625, "volume": 1626, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-06-21", "close": 181.3853, "volume": 338, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-06-28", "close": 180.546875, "volume": 80, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-07-05", "close": 183.862457, "volume": 2274, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-07-12", "close": 183.57663, "volume": 368, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-07-19", "close": 180.203888, "volume": 5408, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-07-26", "close": 181.461533, "volume": 759, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-08-02", "close": 173.782318, "volume": 5494, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-08-09", "close": 174.716019, "volume": 1213, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-08-16", "close": 180.241974, "volume": 47, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-08-23", "close": 181.89978, "volume": 327, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-08-30", "close": 185.61554, "volume": 116, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-09-06", "close": 181.404358, "volume": 94, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-09-13", "close": 182.719147, "volume": 480, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-09-20", "close": 183.119308, "volume": 632, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-09-27", "close": 188.53096, "volume": 2275, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-10-04", "close": 186.434891, "volume": 1164, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-10-11", "close": 186.301498, "volume": 1455, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-10-18", "close": 187.616302, "volume": 3077, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-10-25", "close": 185.043884, "volume": 154, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-01", "close": 183.214584, "volume": 2026, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-08", "close": 180.337265, "volume": 2002, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-15", "close": 180.451599, "volume": 60, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-22", "close": 178.889069, "volume": 1053, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-29", "close": 181.309082, "volume": 1576, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-12-06", "close": 186.873169, "volume": 1713, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-12-13", "close": 186.70752, "volume": 5, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-12-20", "close": 183.277771, "volume": 125, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-12-27", "close": 184.076736, "volume": 453, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-03", "close": 184.934189, "volume": 2, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-10", "close": 186.765976, "volume": 1221, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-17", "close": 191.910629, "volume": 195, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-24", "close": 193.956787, "volume": 1086, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-31", "close": 195.993195, "volume": 54, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-02-07", "close": 196.870132, "volume": 70, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-02-14", "close": 202.813751, "volume": 1143, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-02-21", "close": 201.498367, "volume": 126, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-02-28", "close": 201.936829, "volume": 16, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-03-07", "close": 203.154785, "volume": 1093, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-03-14", "close": 199.744507, "volume": 741, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-03-21", "close": 202.326569, "volume": 2051, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-03-28", "close": 200.524002, "volume": 1095, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-04-04", "close": 183.375198, "volume": 574, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-04-11", "close": 180.666473, "volume": 442, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-04-18", "close": 187.272644, "volume": 599, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-04-25", "close": 195.262436, "volume": 1867, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-02", "close": 200.767593, "volume": 407, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-09", "close": 200.280411, "volume": 258, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-16", "close": 207.636856, "volume": 2584, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-23", "close": 205.590683, "volume": 1818, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-30", "close": 207.831726, "volume": 428, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-06-06", "close": 209.244553, "volume": 1018, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-06-13", "close": 207.685562, "volume": 525, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-06-20", "close": 201.741959, "volume": 1251, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-06-27", "close": 206.711197, "volume": 4071, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-07-04", "close": 207.295822, "volume": 510, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-07-11", "close": 210.365067, "volume": 26, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-07-18", "close": 207.441971, "volume": 257, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-07-25", "close": 209.049683, "volume": 29, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-01", "close": 203.008636, "volume": 393, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-08", "close": 206.370178, "volume": 60, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-15", "close": 213.629181, "volume": 38, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-22", "close": 215.675354, "volume": 1636, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-29", "close": 213.629181, "volume": 205, "typical_volume": 899.0, "trend": 202.980044, "fair_value": 190.301317, "relative_strength": -3.824164, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 72.63656, "energy": 84.021463, "activity_lines": [ 212.498924, 210.481106, 208.459724, 205.694515 ] }, { "date": "2025-09-05", "close": 207.539413, "volume": 1256, "typical_volume": 931.85, "trend": 203.335686, "fair_value": 190.514133, "relative_strength": -5.085498, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 61.762614, "energy": 72.860656, "activity_lines": [ 211.524559, 210.157795, 208.623046, 205.988668 ] }, { "date": "2025-09-12", "close": 210.608658, "volume": 37, "typical_volume": 840.35, "trend": 203.595516, "fair_value": 190.759188, "relative_strength": -5.678587, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 59.023895, "energy": 53.354197, "activity_lines": [ 211.271225, 210.377469, 208.982168, 206.457892 ] }, { "date": "2025-09-19", "close": 212.118912, "volume": 719, "typical_volume": 855.95, "trend": 203.949535, "fair_value": 191.016534, "relative_strength": -4.287865, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 63.0293, "energy": 43.018816, "activity_lines": [ 211.238743, 210.811502, 209.412047, 207.007788 ] }, { "date": "2025-09-26", "close": 211.144562, "volume": 473, "typical_volume": 866.7, "trend": 204.256459, "fair_value": 191.256154, "relative_strength": -5.307545, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 45.42962, "energy": 29.628222, "activity_lines": [ 210.982163, 211.036492, 209.695077, 207.471984 ] }, { "date": "2025-10-03", "close": 219.18306, "volume": 3950, "typical_volume": 935.0, "trend": 204.790735, "fair_value": 191.584705, "relative_strength": -2.920808, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 84.910369, "energy": 57.150244, "activity_lines": [ 213.707134, 212.655707, 210.691943, 208.43499 ] }, { "date": "2025-10-10", "close": 215.33432, "volume": 2372, "typical_volume": 962.7, "trend": 205.310395, "fair_value": 191.860864, "relative_strength": -1.769032, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 65.545754, "energy": 62.358727, "activity_lines": [ 214.778934, 213.390908, 211.267282, 209.115221 ] }, { "date": "2025-10-17", "close": 217.867676, "volume": 974, "typical_volume": 990.0, "trend": 205.828432, "fair_value": 192.159793, "relative_strength": 0.118218, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 74.884848, "energy": 74.950256, "activity_lines": [ 216.175525, 214.362616, 212.037494, 209.925369 ] }, { "date": "2025-10-24", "close": 220.389603, "volume": 725, "typical_volume": 975.35, "trend": 206.490619, "fair_value": 192.480586, "relative_strength": -0.411425, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 81.65948, "energy": 85.336799, "activity_lines": [ 217.928824, 215.583811, 213.000099, 210.864799 ] }, { "date": "2025-10-31", "close": 220.059998, "volume": 1324, "typical_volume": 1015.3, "trend": 207.713446, "fair_value": 192.790467, "relative_strength": -2.077457, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 74.534712, "energy": 83.374303, "activity_lines": [ 219.020875, 216.622161, 213.878242, 211.740243 ] }, { "date": "2025-11-07", "close": 216.357407, "volume": 320, "typical_volume": 968.75, "trend": 208.903143, "fair_value": 193.052322, "relative_strength": -3.044089, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 65.087909, "energy": 65.110589, "activity_lines": [ 218.284367, 216.907592, 214.344831, 212.297918 ] }, { "date": "2025-11-14", "close": 220.595871, "volume": 440, "typical_volume": 787.2, "trend": 210.013918, "fair_value": 193.354998, "relative_strength": -3.470625, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 73.894096, "energy": 60.948432, "activity_lines": [ 219.149057, 217.914048, 215.145486, 213.052287 ] }, { "date": "2025-11-21", "close": 214.603546, "volume": 4468, "typical_volume": 985.1, "trend": 210.658621, "fair_value": 193.585961, "relative_strength": -3.047154, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 57.525929, "energy": 40.476288, "activity_lines": [ 217.665536, 217.593601, 215.309326, 213.348392 ] }, { "date": "2025-11-28", "close": 220.547165, "volume": 532, "typical_volume": 1010.4, "trend": 211.31794, "fair_value": 193.875866, "relative_strength": -1.835717, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 67.346816, "energy": 41.139968, "activity_lines": [ 218.380829, 218.281177, 216.004426, 213.986363 ] }, { "date": "2025-12-05", "close": 222.10614, "volume": 3336, "typical_volume": 1164.35, "trend": 212.045465, "fair_value": 194.176188, "relative_strength": -1.218073, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 72.494642, "energy": 49.191245, "activity_lines": [ 219.605276, 219.098962, 216.799513, 214.682376 ] }, { "date": "2025-12-12", "close": 221.699997, "volume": 3191, "typical_volume": 1322.45, "trend": 212.514236, "fair_value": 194.465913, "relative_strength": -1.488361, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 65.333071, "energy": 46.59066, "activity_lines": [ 220.557934, 219.643602, 217.486092, 215.305249 ] }, { "date": "2025-12-19", "close": 224.550003, "volume": 75, "typical_volume": 1306.55, "trend": 213.146213, "fair_value": 194.779288, "relative_strength": -2.846756, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 77.132919, "energy": 72.98598, "activity_lines": [ 222.10442, 220.660662, 218.383859, 216.08175 ] }, { "date": "2025-12-26", "close": 223.949997, "volume": 379, "typical_volume": 1322.5, "trend": 213.683489, "fair_value": 195.080017, "relative_strength": -2.64494, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 68.815137, "energy": 74.370831, "activity_lines": [ 223.187296, 221.401072, 219.121905, 216.778768 ] }, { "date": "2026-01-02", "close": 227.300003, "volume": 240, "typical_volume": 1332.6, "trend": 214.285337, "fair_value": 195.408793, "relative_strength": -2.710416, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 82.210133, "energy": 85.088261, "activity_lines": [ 224.763743, 222.639987, 220.095286, 217.657253 ] }, { "date": "2026-01-09", "close": 232.399994, "volume": 1232, "typical_volume": 1312.4, "trend": 215.109152, "fair_value": 195.782441, "relative_strength": -1.189837, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 91.515789, "energy": 94.421743, "activity_lines": [ 227.589998, 224.680529, 221.489282, 218.82594 ] }, { "date": "2026-01-16", "close": 233.399994, "volume": 583, "typical_volume": 1331.3, "trend": 216.16442, "fair_value": 196.158617, "relative_strength": -0.867762, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 87.844671, "energy": 94.326156, "activity_lines": [ 230.06333, 226.678526, 222.898874, 220.005995 ] }, { "date": "2026-01-23", "close": 230.5, "volume": 866, "typical_volume": 1311.8, "trend": 216.95738, "fair_value": 196.49863, "relative_strength": 0.095376, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 67.624793, "energy": 86.312863, "activity_lines": [ 230.789997, 227.839385, 223.93813, 220.930871 ] }, { "date": "2026-01-30", "close": 232.100006, "volume": 167, "typical_volume": 1318.3, "trend": 217.784186, "fair_value": 196.847664, "relative_strength": -0.645883, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 70.160312, "energy": 83.312012, "activity_lines": [ 231.653334, 229.11108, 225.020431, 221.907815 ] }, { "date": "2026-02-06", "close": 234.449997, "volume": 210, "typical_volume": 1292.85, "trend": 218.587017, "fair_value": 197.212735, "relative_strength": -0.329994, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 76.776755, "energy": 73.338231, "activity_lines": [ 232.756666, 230.491929, 226.224201, 222.983028 ] }, { "date": "2026-02-13", "close": 233.550003, "volume": 306, "typical_volume": 1284.5, "trend": 219.457285, "fair_value": 197.562132, "relative_strength": 0.337201, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 69.654984, "energy": 65.83668, "activity_lines": [ 233.083334, 231.456363, 227.235918, 223.948382 ] }, { "date": "2026-02-20", "close": 239.550003, "volume": 1865, "typical_volume": 1180.25, "trend": 220.473962, "fair_value": 197.962016, "relative_strength": 0.641339, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 89.386238, "energy": 85.060966, "activity_lines": [ 235.333335, 233.303637, 228.712372, 225.244687 ] }, { "date": "2026-02-27", "close": 240.550003, "volume": 64, "typical_volume": 1064.85, "trend": 221.725341, "fair_value": 198.36379, "relative_strength": -0.468094, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 86.428392, "energy": 92.837354, "activity_lines": [ 237.506669, 235.008183, 230.187078, 226.539915 ] }, { "date": "2026-03-06", "close": 224.25, "volume": 404, "typical_volume": 1036.35, "trend": 222.321335, "fair_value": 198.605717, "relative_strength": -0.716993, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 49.209177, "energy": 47.04333, "activity_lines": [ 233.576668, 233.458183, 229.989329, 226.702796 ] }, { "date": "2026-03-13", "close": 224.75, "volume": 328, "typical_volume": 1016.5, "trend": 222.692029, "fair_value": 198.847793, "relative_strength": -0.830329, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 30.90541, "energy": 24.845289, "activity_lines": [ 230.336668, 231.993637, 229.808806, 226.859484 ] }, { "date": "2026-03-20", "close": 215.600006, "volume": 1044, "typical_volume": 1002.5, "trend": 222.689517, "fair_value": 199.001483, "relative_strength": -1.53439, "stage": 2, "regime": "rotation_down", "modifier": "Structural failure", "gate": "up", "direction": -9.115051, "energy": 25.803589, "activity_lines": [ 224.693336, 228.91182, 228.736092, 226.401934 ] }, { "date": "2026-03-27", "close": 215.75, "volume": 2634, "typical_volume": 1118.2, "trend": 222.760211, "fair_value": 199.153743, "relative_strength": -2.613671, "stage": 2, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -37.731592, "energy": 45.620988, "activity_lines": [ 220.296668, 226.162729, 227.698901, 225.954224 ] }, { "date": "2026-04-03", "close": 223.899994, "volume": 22, "typical_volume": 1097.3, "trend": 223.305564, "fair_value": 199.376682, "relative_strength": -3.770563, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -22.934345, "energy": 37.97783, "activity_lines": [ 220.203333, 225.216364, 227.440792, 226.027758 ] }, { "date": "2026-04-10", "close": 234.050003, "volume": 1795, "typical_volume": 963.65, "trend": 224.086942, "fair_value": 199.686265, "relative_strength": -3.456985, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "up", "direction": 20.459346, "energy": 24.042392, "activity_lines": [ 224.603334, 226.235455, 228.133617, 226.720948 ] }, { "date": "2026-04-17", "close": 236.149994, "volume": 406, "typical_volume": 957.35, "trend": 224.887978, "fair_value": 200.008953, "relative_strength": -4.968561, "stage": 2, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 47.332422, "energy": 22.729149, "activity_lines": [ 229.049998, 227.600909, 228.933839, 227.499209 ] }, { "date": "2026-04-24", "close": 234.149994, "volume": 2301, "typical_volume": 905.6, "trend": 225.654826, "fair_value": 200.308436, "relative_strength": -3.259836, "stage": 2, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 46.388927, "energy": 36.843157, "activity_lines": [ 232.069996, 228.571816, 229.469285, 228.096758 ] }, { "date": "2026-05-01", "close": 231.050003, "volume": 468, "typical_volume": 769.45, "trend": 226.050391, "fair_value": 200.575754, "relative_strength": -5.547353, "stage": 2, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 42.361891, "energy": 37.402896, "activity_lines": [ 232.819998, 228.968181, 229.652143, 228.444834 ] }, { "date": "2026-05-08", "close": 236.800003, "volume": 889, "typical_volume": 810.15, "trend": 226.765913, "fair_value": 200.888032, "relative_strength": -5.145351, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 61.926263, "energy": 51.245476, "activity_lines": [ 234.466667, 230.564545, 230.338095, 229.138358 ] }, { "date": "2026-05-15", "close": 234.949997, "volume": 838, "typical_volume": 833.1, "trend": 227.335324, "fair_value": 201.17916, "relative_strength": -5.43681, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 56.0763, "energy": 52.191845, "activity_lines": [ 234.636666, 231.892726, 230.789524, 229.666363 ] }, { "date": "2026-05-22", "close": 243.949997, "volume": 1836, "typical_volume": 912.9, "trend": 228.120671, "fair_value": 201.541624, "relative_strength": -2.49366, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 74.958557, "energy": 59.965835, "activity_lines": [ 237.746665, 234.662726, 232.045714, 230.738278 ] }, { "date": "2026-05-29", "close": 245.649994, "volume": 45, "typical_volume": 853.55, "trend": 228.97367, "fair_value": 201.912283, "relative_strength": -2.744486, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 75.404525, "energy": 70.3559, "activity_lines": [ 240.903331, 237.392725, 233.384523, 231.869202 ] }, { "date": "2026-06-05", "close": 245.449997, "volume": 3966, "typical_volume": 1022.7, "trend": 229.943423, "fair_value": 202.275097, "relative_strength": -2.456234, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 72.015753, "energy": 76.526127, "activity_lines": [ 243.226663, 239.539997, 234.641189, 232.93219 ] }, { "date": "2026-06-12", "close": 250.350006, "volume": 285, "typical_volume": 993.65, "trend": 230.935228, "fair_value": 202.672411, "relative_strength": -3.458904, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 81.58721, "energy": 86.293693, "activity_lines": [ 246.223333, 242.038181, 236.307142, 234.248744 ] }, { "date": "2026-06-19", "close": 254.399994, "volume": 20, "typical_volume": 986.3, "trend": 232.261776, "fair_value": 203.096407, "relative_strength": -4.286682, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 84.807769, "energy": 91.907998, "activity_lines": [ 249.666665, 244.791816, 238.264284, 235.7626 ] }, { "date": "2026-06-26", "close": 250.949997, "volume": 295, "typical_volume": 990.55, "trend": 233.275204, "fair_value": 203.485461, "relative_strength": -2.553325, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 69.976285, "energy": 87.344391, "activity_lines": [ 250.663331, 246.54818, 239.786665, 236.968292 ] }, { "date": "2026-07-03", "close": 256.75, "volume": 1434, "typical_volume": 1046.95, "trend": 234.429999, "fair_value": 203.915013, "relative_strength": -3.096792, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 83.426781, "energy": 92.405293, "activity_lines": [ 253.126665, 249.089998, 241.782856, 238.482795 ] }, { "date": "2026-07-10", "close": 251.600006, "volume": 606, "typical_volume": 984.0, "trend": 235.426666, "fair_value": 204.296493, "relative_strength": -4.499587, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 67.510862, "energy": 85.315588, "activity_lines": [ 253.133334, 250.284545, 243.178094, 239.590537 ] }, { "date": "2026-07-17", "close": 250.649994, "volume": 1387, "typical_volume": 1050.15, "trend": 236.296666, "fair_value": 204.664378, "relative_strength": -3.401092, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 64.966343, "energy": 68.216949, "activity_lines": [ 252.413332, 250.932726, 244.425475, 240.572687 ] }, { "date": "2026-07-24", "close": 251.050003, "volume": 2096, "typical_volume": 1134.75, "trend": 237.2, "fair_value": 205.029619, "relative_strength": -2.990552, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 62.565627, "energy": 58.548561, "activity_lines": [ 251.806667, 251.401818, 245.662856, 241.524515 ] }, { "date": "2026-07-31", "close": 252.5, "volume": 1624, "typical_volume": 1199.55, "trend": 238.039999, "fair_value": 205.400482, "relative_strength": -3.03344, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 62.678359, "energy": 51.832384, "activity_lines": [ 251.906667, 251.841818, 246.910713, 242.511612 ] }, { "date": "2026-08-07", "close": 259.049988, "volume": 814, "typical_volume": 1188.05, "trend": 238.928333, "fair_value": 205.816369, "relative_strength": -3.327047, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 81.42397, "energy": 63.379294, "activity_lines": [ 254.086663, 253.31727, 248.650236, 243.867095 ] } ], "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." } } }