{
  "ticker": {
    "uuid": "145621b3-558a-4384-a7ea-144d4b1e8d51",
    "symbol": "RECI",
    "name": "Real Estate Credit Investments Limited",
    "exchange": "LSE",
    "country": "GB",
    "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": "^FTSE",
    "stage": 4,
    "stage_name": "Declining",
    "phase": "4b",
    "phase_label": "Stage 4B \u00b7 Declining",
    "transition": "stage_4_declining",
    "transition_label": "Stage 4 decline intact",
    "confidence": 73.496,
    "architecture_regime": "downward_expansion",
    "architecture_regime_label": "Downward Expansion",
    "architecture_modifier": "Established contraction",
    "architecture_gate": "down",
    "architecture_direction": -26.677,
    "architecture_energy": 16.509,
    "architecture_maturity": 55.948,
    "architecture_confidence": 59.873,
    "architecture_tenure": "Developing",
    "architecture": {
      "interpretation": {
        "headline": "The weekly architecture is expanding downward.",
        "body": "Trend and Activity show sustained negative alignment with weak price acceptance. Repair requires persistent improvement across the structure, not merely one strong observation."
      },
      "scores": {
        "balance": 49.45,
        "rotation_up": 32.01,
        "upward_expansion": 19.41,
        "deceleration": 41.77,
        "rotation_down": 22.7,
        "downward_expansion": 53.41
      },
      "activity_lines": [
        116.7,
        115.796709,
        115.918019,
        117.129845
      ],
      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Improving",
      "price_acceptance": 0.0
    },
    "latest_close": 117.0,
    "trend_reference": 119.147649,
    "distance_from_trend": -0.018025,
    "trend_direction": "Weakening",
    "fair_value": 123.405997,
    "distance_from_fair_value": -0.05191,
    "fair_value_direction": "Improving",
    "relative_strength": -11.362686,
    "relative_strength_direction": "Weakening",
    "price_momentum": -0.060019,
    "excess_performance": -0.111254,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.018025,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.021095,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.05191,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.00159,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.113627,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.001851,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.060019,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.936398,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 1268987,
      "relative_activity": 0.994419,
      "balance": 1.936398,
      "dry_up": 0.927177,
      "accumulation_observations": 3,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.029979,
      "annualized_volatility": 0.134943,
      "from_high_reference": -0.102199,
      "from_low_reference": 0.052858
    },
    "levels": {
      "trend_reference": 119.147649,
      "fair_value_reference": 123.405997,
      "structural_low": 111.1261,
      "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": 27,
        "median_return": 0.007948,
        "positive_rate": 0.62963,
        "directional_follow_through": 0.333333,
        "median_excess_return": -0.002914,
        "regime_survival": 0.777778,
        "best_return": 0.072289,
        "worst_return": -0.053862,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 11,
        "median_return": 0.0131,
        "positive_rate": 0.545455,
        "directional_follow_through": 0.454545,
        "median_excess_return": -0.014663,
        "regime_survival": 0.454545,
        "best_return": 0.087886,
        "worst_return": -0.089932,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 6,
        "median_return": -0.009771,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": -0.075019,
        "regime_survival": 0.333333,
        "best_return": 0.054688,
        "worst_return": -0.066289,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
        "median_return": -0.043453,
        "positive_rate": 0.333333,
        "directional_follow_through": 0.666667,
        "median_excess_return": -0.133971,
        "regime_survival": 0.333333,
        "best_return": 0.030518,
        "worst_return": -0.092565,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-02-21",
        "end": "2025-03-21",
        "tenure": "Developing",
        "return": 0.012434,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-03-28",
        "end": "2025-06-27",
        "tenure": "Established",
        "return": 0.036,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-07-04",
        "end": "2025-08-08",
        "tenure": "Developing",
        "return": -0.003906,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-08-15",
        "end": "2025-09-12",
        "tenure": "Developing",
        "return": 0.019608,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-09-19",
        "end": "2025-10-03",
        "tenure": "New",
        "return": -0.011534,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-10-10",
        "end": "2025-10-17",
        "tenure": "New",
        "return": -0.004016,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2025-10-24",
        "end": "2025-11-21",
        "tenure": "Developing",
        "return": -0.018072,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-11-28",
        "end": "2026-01-09",
        "tenure": "Developing",
        "return": 0.016637,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2026-01-16",
        "end": "2026-02-20",
        "tenure": "Developing",
        "return": 0.032258,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2026-02-27",
        "end": "2026-03-13",
        "tenure": "New",
        "return": -0.042911,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2026-03-20",
        "end": "2026-03-27",
        "tenure": "New",
        "return": -0.045082,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2026-04-03",
        "end": "2026-05-08",
        "tenure": "Developing",
        "return": 0.025942,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2026-05-15",
        "end": "2026-05-15",
        "tenure": "New",
        "return": 0.0,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2026-05-22",
        "end": "2026-08-07",
        "tenure": "Developing",
        "return": 0.008875,
        "active": true
      }
    ],
    "chart_path": [
      {
        "date": "2023-08-18",
        "close": 124.177071,
        "volume": 528945,
        "typical_volume": 1418492.25,
        "trend": 129.442593,
        "fair_value": 140.266259,
        "relative_strength": -2.128296,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -38.572379,
        "energy": 22.398553,
        "activity_lines": [
          123.611878,
          123.330553,
          124.204455,
          126.19994
        ]
      },
      {
        "date": "2023-08-25",
        "close": 126.171875,
        "volume": 2970432,
        "typical_volume": 1516954.75,
        "trend": 129.062342,
        "fair_value": 140.26811,
        "relative_strength": -1.34258,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -29.954381,
        "energy": 15.733952,
        "activity_lines": [
          124.60928,
          123.794615,
          124.260947,
          125.988926
        ]
      },
      {
        "date": "2023-09-01",
        "close": 128.66539,
        "volume": 2864197,
        "typical_volume": 1600310.4,
        "trend": 128.657206,
        "fair_value": 140.298703,
        "relative_strength": -0.85635,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -1.358455,
        "energy": 10.187905,
        "activity_lines": [
          126.205126,
          124.702432,
          124.58089,
          125.963316
        ]
      },
      {
        "date": "2023-09-08",
        "close": 129.662796,
        "volume": 2009915,
        "typical_volume": 1662582.05,
        "trend": 128.376704,
        "fair_value": 140.343663,
        "relative_strength": -0.089187,
        "stage": 1,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": 5.858199,
        "energy": 17.954326,
        "activity_lines": [
          127.634739,
          125.727582,
          125.012297,
          126.028193
        ]
      },
      {
        "date": "2023-09-15",
        "close": 133.153732,
        "volume": 931207,
        "typical_volume": 1618078.45,
        "trend": 128.07964,
        "fair_value": 140.396648,
        "relative_strength": -0.340277,
        "stage": 1,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": 37.896649,
        "energy": 50.1283,
        "activity_lines": [
          129.795789,
          127.314366,
          125.780777,
          126.336388
        ]
      },
      {
        "date": "2023-09-22",
        "close": 129.193481,
        "volume": 1017331,
        "typical_volume": 1614879.75,
        "trend": 127.80011,
        "fair_value": 140.440195,
        "relative_strength": -2.703625,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Structural repair",
        "gate": "mixed",
        "direction": 22.551127,
        "energy": 47.082519,
        "activity_lines": [
          130.071558,
          127.99069,
          126.148196,
          126.408249
        ]
      },
      {
        "date": "2023-09-29",
        "close": 131.188751,
        "volume": 580563,
        "typical_volume": 1572386.45,
        "trend": 127.602712,
        "fair_value": 140.493342,
        "relative_strength": 0.028609,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Emerging rotation",
        "gate": "mixed",
        "direction": 36.744083,
        "energy": 55.060896,
        "activity_lines": [
          130.67799,
          128.884178,
          126.698232,
          126.626871
        ]
      },
      {
        "date": "2023-10-06",
        "close": 128.694656,
        "volume": 895937,
        "typical_volume": 1563645.7,
        "trend": 127.372035,
        "fair_value": 140.517744,
        "relative_strength": -0.187682,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Emerging rotation",
        "gate": "mixed",
        "direction": 30.75858,
        "energy": 41.654572,
        "activity_lines": [
          130.118599,
          129.169508,
          126.989077,
          126.697319
        ]
      },
      {
        "date": "2023-10-13",
        "close": 130.191101,
        "volume": 625293,
        "typical_volume": 1528522.1,
        "trend": 127.174621,
        "fair_value": 140.554928,
        "relative_strength": -0.327226,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Emerging rotation",
        "gate": "mixed",
        "direction": 31.082259,
        "energy": 32.465857,
        "activity_lines": [
          130.056072,
          129.590378,
          127.405535,
          126.879194
        ]
      },
      {
        "date": "2023-10-20",
        "close": 127.697037,
        "volume": 447719,
        "typical_volume": 1512046.65,
        "trend": 126.977168,
        "fair_value": 140.585692,
        "relative_strength": 0.446051,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Emerging rotation",
        "gate": "mixed",
        "direction": 16.056149,
        "energy": 17.970311,
        "activity_lines": [
          129.126969,
          129.4303,
          127.553311,
          126.912898
        ]
      },
      {
        "date": "2023-10-27",
        "close": 127.697037,
        "volume": 434989,
        "typical_volume": 1441353.05,
        "trend": 126.796335,
        "fair_value": 140.613267,
        "relative_strength": 2.039738,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Emerging rotation",
        "gate": "up",
        "direction": 36.962071,
        "energy": 20.237621,
        "activity_lines": [
          128.561647,
          129.215291,
          127.681809,
          126.959341
        ]
      },
      {
        "date": "2023-11-03",
        "close": 129.193481,
        "volume": 457251,
        "typical_volume": 1405969.85,
        "trend": 126.715241,
        "fair_value": 140.640867,
        "relative_strength": 1.496909,
        "stage": 1,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 36.508448,
        "energy": 18.723601,
        "activity_lines": [
          128.594901,
          129.208363,
          127.945421,
          127.113996
        ]
      },
      {
        "date": "2023-11-10",
        "close": 128.195831,
        "volume": 805577,
        "typical_volume": 1408642.8,
        "trend": 126.584275,
        "fair_value": 140.630176,
        "relative_strength": 1.604963,
        "stage": 1,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 32.384244,
        "energy": 18.787831,
        "activity_lines": [
          128.428624,
          128.965105,
          128.097112,
          127.209518
        ]
      },
      {
        "date": "2023-11-17",
        "close": 129.692307,
        "volume": 900633,
        "typical_volume": 1405540.1,
        "trend": 126.553048,
        "fair_value": 140.629077,
        "relative_strength": 0.921123,
        "stage": 1,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 40.254628,
        "energy": 19.470481,
        "activity_lines": [
          128.794428,
          129.002472,
          128.376796,
          127.410036
        ]
      },
      {
        "date": "2023-11-24",
        "close": 129.692307,
        "volume": 803710,
        "typical_volume": 1402078.3,
        "trend": 126.604918,
        "fair_value": 140.602463,
        "relative_strength": 1.265399,
        "stage": 1,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 49.330836,
        "energy": 25.828988,
        "activity_lines": [
          129.193484,
          129.039302,
          128.637198,
          127.612569
        ]
      },
      {
        "date": "2023-12-01",
        "close": 128.195831,
        "volume": 1010605,
        "typical_volume": 1396292.3,
        "trend": 126.623526,
        "fair_value": 140.524793,
        "relative_strength": -0.429298,
        "stage": 1,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 43.623828,
        "energy": 21.410241,
        "activity_lines": [
          128.960696,
          128.866981,
          128.721692,
          127.715208
        ]
      },
      {
        "date": "2023-12-08",
        "close": 126.72863,
        "volume": 2475304,
        "typical_volume": 1474406.55,
        "trend": 126.626466,
        "fair_value": 140.456664,
        "relative_strength": -1.797334,
        "stage": 1,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 13.991958,
        "energy": 7.672759,
        "activity_lines": [
          128.205589,
          128.446034,
          128.633066,
          127.721989
        ]
      },
      {
        "date": "2023-12-15",
        "close": 125.730782,
        "volume": 3206261,
        "typical_volume": 1437063.4,
        "trend": 126.646002,
        "fair_value": 140.385329,
        "relative_strength": -2.800844,
        "stage": 1,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 4.930266,
        "energy": 8.489978,
        "activity_lines": [
          127.28219,
          127.924754,
          128.430133,
          127.664203
        ]
      },
      {
        "date": "2023-12-22",
        "close": 127.726517,
        "volume": 857031,
        "typical_volume": 1390391.4,
        "trend": 126.781922,
        "fair_value": 140.329978,
        "relative_strength": -2.692718,
        "stage": 1,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 12.524957,
        "energy": 13.228833,
        "activity_lines": [
          127.188371,
          127.820224,
          128.395622,
          127.733914
        ]
      },
      {
        "date": "2023-12-29",
        "close": 129.223282,
        "volume": 249013,
        "typical_volume": 1203595.65,
        "trend": 126.967734,
        "fair_value": 140.316123,
        "relative_strength": -1.879587,
        "stage": 1,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 19.15272,
        "energy": 12.411909,
        "activity_lines": [
          127.724528,
          128.032643,
          128.482009,
          127.891421
        ]
      },
      {
        "date": "2024-01-05",
        "close": 127.726517,
        "volume": 608730,
        "typical_volume": 1207584.9,
        "trend": 127.020556,
        "fair_value": 140.260771,
        "relative_strength": -2.313107,
        "stage": 1,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 12.633739,
        "energy": 7.623132,
        "activity_lines": [
          127.793031,
          127.945174,
          128.404192,
          127.940375
        ]
      },
      {
        "date": "2024-01-12",
        "close": 122.737183,
        "volume": 1509768,
        "typical_volume": 1134551.7,
        "trend": 126.923688,
        "fair_value": 140.159081,
        "relative_strength": -5.109494,
        "stage": 1,
        "regime": "deceleration",
        "modifier": "Momentum cooling",
        "gate": "mixed",
        "direction": -29.531293,
        "energy": 23.590081,
        "activity_lines": [
          126.22971,
          126.950016,
          127.834299,
          127.664028
        ]
      },
      {
        "date": "2024-01-19",
        "close": 122.737183,
        "volume": 2785828,
        "typical_volume": 1130633.25,
        "trend": 126.843437,
        "fair_value": 140.04144,
        "relative_strength": -2.905423,
        "stage": 1,
        "regime": "deceleration",
        "modifier": "Momentum cooling",
        "gate": "mixed",
        "direction": -37.373115,
        "energy": 39.679025,
        "activity_lines": [
          124.932485,
          126.072246,
          127.280761,
          127.393931
        ]
      },
      {
        "date": "2024-01-26",
        "close": 122.737183,
        "volume": 2468029,
        "typical_volume": 1153538.95,
        "trend": 126.746569,
        "fair_value": 139.915823,
        "relative_strength": -4.930777,
        "stage": 4,
        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
        "direction": -35.219396,
        "energy": 51.267982,
        "activity_lines": [
          123.834834,
          125.293724,
          126.755452,
          127.129011
        ]
      },
      {
        "date": "2024-02-02",
        "close": 121.739342,
        "volume": 947119,
        "typical_volume": 1154334.55,
        "trend": 126.715181,
        "fair_value": 139.758289,
        "relative_strength": -5.263229,
        "stage": 4,
        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
        "direction": -38.941219,
        "energy": 59.26006,
        "activity_lines": [
          122.737192,
          124.460233,
          126.16809,
          126.805964
        ]
      },
      {
        "date": "2024-02-09",
        "close": 120.741463,
        "volume": 2176665,
        "typical_volume": 1212301.25,
        "trend": 126.700401,
        "fair_value": 139.603928,
        "relative_strength": -5.337825,
        "stage": 4,
        "regime": "rotation_down",
        "modifier": "Structural failure",
        "gate": "down",
        "direction": -69.956985,
        "energy": 70.963563,
        "activity_lines": [
          121.805852,
          123.589909,
          125.540046,
          126.420563
        ]
      },
      {
        "date": "2024-02-16",
        "close": 119.743607,
        "volume": 844542,
        "typical_volume": 1225500.2,
        "trend": 126.60249,
        "fair_value": 139.455931,
        "relative_strength": -7.579163,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -71.507318,
        "energy": 71.25834,
        "activity_lines": [
          121.007564,
          122.673691,
          124.857217,
          125.971738
        ]
      },
      {
        "date": "2024-02-23",
        "close": 120.242523,
        "volume": 7049631,
        "typical_volume": 1533184.9,
        "trend": 126.571078,
        "fair_value": 139.323894,
        "relative_strength": -6.931009,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -66.136211,
        "energy": 67.69388,
        "activity_lines": [
          120.575153,
          121.975185,
          124.276403,
          125.561417
        ]
      },
      {
        "date": "2024-03-01",
        "close": 120.242523,
        "volume": 2227550,
        "typical_volume": 1613297.75,
        "trend": 126.473173,
        "fair_value": 139.21081,
        "relative_strength": -6.470879,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -64.169504,
        "energy": 61.654903,
        "activity_lines": [
          120.309053,
          121.376465,
          123.735838,
          125.153123
        ]
      },
      {
        "date": "2024-03-08",
        "close": 122.238251,
        "volume": 1502309,
        "typical_volume": 1666027.25,
        "trend": 126.391922,
        "fair_value": 139.107328,
        "relative_strength": -4.466033,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -60.59991,
        "energy": 44.912863,
        "activity_lines": [
          120.874506,
          121.276678,
          123.432716,
          124.879903
        ]
      },
      {
        "date": "2024-03-15",
        "close": 119.773178,
        "volume": 4711551,
        "typical_volume": 1879855.35,
        "trend": 126.245126,
        "fair_value": 139.00719,
        "relative_strength": -6.885097,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -66.098324,
        "energy": 45.829693,
        "activity_lines": [
          120.585008,
          120.855696,
          122.92082,
          124.452887
        ]
      },
      {
        "date": "2024-03-22",
        "close": 118.276009,
        "volume": 2759527,
        "typical_volume": 1994969.15,
        "trend": 125.98193,
        "fair_value": 138.903836,
        "relative_strength": -10.083264,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -70.98049,
        "energy": 47.807021,
        "activity_lines": [
          119.861005,
          120.307108,
          122.304069,
          123.93875
        ]
      },
      {
        "date": "2024-03-29",
        "close": 114.283569,
        "volume": 1612218,
        "typical_volume": 2035301.2,
        "trend": 125.502536,
        "fair_value": 138.75734,
        "relative_strength": -13.045706,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -82.854805,
        "energy": 65.156871,
        "activity_lines": [
          117.904029,
          119.113734,
          121.359073,
          123.184017
        ]
      },
      {
        "date": "2024-04-05",
        "close": 115.281685,
        "volume": 2871213,
        "typical_volume": 2133830.2,
        "trend": 125.023166,
        "fair_value": 138.599693,
        "relative_strength": -11.577185,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -73.280455,
        "energy": 73.365034,
        "activity_lines": [
          116.677022,
          118.255538,
          120.575385,
          122.524608
        ]
      },
      {
        "date": "2024-04-12",
        "close": 116.279793,
        "volume": 1784155,
        "typical_volume": 2182852.45,
        "trend": 124.460701,
        "fair_value": 138.438871,
        "relative_strength": -11.521657,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -63.805753,
        "energy": 73.302797,
        "activity_lines": [
          116.113441,
          117.71437,
          119.955377,
          121.960519
        ]
      },
      {
        "date": "2024-04-19",
        "close": 115.281685,
        "volume": 1193764,
        "typical_volume": 2192010.4,
        "trend": 123.996975,
        "fair_value": 138.278032,
        "relative_strength": -10.975024,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -67.504984,
        "energy": 74.1275,
        "activity_lines": [
          115.614387,
          117.090993,
          119.30418,
          121.368324
        ]
      },
      {
        "date": "2024-04-26",
        "close": 115.780731,
        "volume": 7085563,
        "typical_volume": 2422523.35,
        "trend": 123.483374,
        "fair_value": 138.117202,
        "relative_strength": -13.059085,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -62.035134,
        "energy": 55.062467,
        "activity_lines": [
          115.581114,
          116.65762,
          118.762007,
          120.838244
        ]
      },
      {
        "date": "2024-05-03",
        "close": 117.776939,
        "volume": 9393161,
        "typical_volume": 2731868.35,
        "trend": 123.11945,
        "fair_value": 137.956405,
        "relative_strength": -12.139932,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -57.132172,
        "energy": 42.742129,
        "activity_lines": [
          116.379596,
          116.659246,
          118.462083,
          120.470087
        ]
      },
      {
        "date": "2024-05-10",
        "close": 117.776939,
        "volume": 1496105,
        "typical_volume": 2763822.05,
        "trend": 122.705645,
        "fair_value": 137.786035,
        "relative_strength": -14.195706,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -43.846931,
        "energy": 32.891785,
        "activity_lines": [
          116.945187,
          116.705701,
          118.200033,
          120.125409
        ]
      },
      {
        "date": "2024-05-17",
        "close": 117.776939,
        "volume": 1811014,
        "typical_volume": 2841922.1,
        "trend": 122.374975,
        "fair_value": 137.612474,
        "relative_strength": -13.839654,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -38.764452,
        "energy": 25.276085,
        "activity_lines": [
          117.344428,
          116.796985,
          117.985363,
          119.807428
        ]
      },
      {
        "date": "2024-05-24",
        "close": 118.276009,
        "volume": 1393435,
        "typical_volume": 2881157.35,
        "trend": 122.060941,
        "fair_value": 137.442112,
        "relative_strength": -12.199053,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -34.342337,
        "energy": 19.749824,
        "activity_lines": [
          117.810215,
          117.060124,
          117.872729,
          119.542978
        ]
      },
      {
        "date": "2024-05-31",
        "close": 117.277908,
        "volume": 1301828,
        "typical_volume": 2870760.35,
        "trend": 121.663755,
        "fair_value": 137.262162,
        "relative_strength": -12.279161,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -32.466974,
        "energy": 17.196532,
        "activity_lines": [
          117.743681,
          117.169011,
          117.710041,
          119.234396
        ]
      },
      {
        "date": "2024-06-07",
        "close": 118.276009,
        "volume": 2907362,
        "typical_volume": 2876837.05,
        "trend": 121.333094,
        "fair_value": 137.101372,
        "relative_strength": -10.963186,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -30.298978,
        "energy": 14.829446,
        "activity_lines": [
          117.910035,
          117.477518,
          117.668406,
          119.015831
        ]
      },
      {
        "date": "2024-06-14",
        "close": 121.769409,
        "volume": 2931484,
        "typical_volume": 2900009.8,
        "trend": 121.068998,
        "fair_value": 136.966168,
        "relative_strength": -7.05947,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": 3.951205,
        "energy": 10.420737,
        "activity_lines": [
          119.207584,
          118.348599,
          117.98072,
          119.043981
        ]
      },
      {
        "date": "2024-06-21",
        "close": 123.266556,
        "volume": 2582516,
        "typical_volume": 2981779.65,
        "trend": 120.854806,
        "fair_value": 136.821415,
        "relative_strength": -6.752269,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": 13.281724,
        "energy": 22.505646,
        "activity_lines": [
          120.738018,
          119.37393,
          118.440227,
          119.185759
        ]
      },
      {
        "date": "2024-06-28",
        "close": 121.769409,
        "volume": 1245011,
        "typical_volume": 2935196.95,
        "trend": 120.640592,
        "fair_value": 136.654302,
        "relative_strength": -6.857143,
        "stage": 1,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": 22.848271,
        "energy": 39.899311,
        "activity_lines": [
          121.403428,
          120.00002,
          118.749877,
          119.244765
        ]
      },
      {
        "date": "2024-07-05",
        "close": 119.802879,
        "volume": 1295916,
        "typical_volume": 2957765.65,
        "trend": 120.409733,
        "fair_value": 136.490348,
        "relative_strength": -8.553102,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Structural repair",
        "gate": "mixed",
        "direction": 19.527754,
        "energy": 39.387192,
        "activity_lines": [
          121.180435,
          120.150601,
          118.867343,
          119.190719
        ]
      },
      {
        "date": "2024-07-12",
        "close": 121.799606,
        "volume": 3352690,
        "typical_volume": 2772918.6,
        "trend": 120.278694,
        "fair_value": 136.329619,
        "relative_strength": -7.409069,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Emerging rotation",
        "gate": "mixed",
        "direction": 22.659413,
        "energy": 39.483606,
        "activity_lines": [
          121.454686,
          120.591093,
          119.174692,
          119.280389
        ]
      },
      {
        "date": "2024-07-19",
        "close": 122.797958,
        "volume": 819517,
        "typical_volume": 2702516.95,
        "trend": 120.114409,
        "fair_value": 136.15614,
        "relative_strength": -5.429032,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Emerging rotation",
        "gate": "mixed",
        "direction": 36.463691,
        "energy": 29.909727,
        "activity_lines": [
          121.826815,
          121.139964,
          119.569707,
          119.442922
        ]
      },
      {
        "date": "2024-07-26",
        "close": 121.300415,
        "volume": 1427642,
        "typical_volume": 2698783.6,
        "trend": 119.850313,
        "fair_value": 135.963488,
        "relative_strength": -7.92456,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Emerging rotation",
        "gate": "mixed",
        "direction": 25.597063,
        "energy": 20.570435,
        "activity_lines": [
          121.631193,
          121.325264,
          119.80993,
          119.519438
        ]
      },
      {
        "date": "2024-08-02",
        "close": 122.298775,
        "volume": 1608809,
        "typical_volume": 2543646.5,
        "trend": 119.669389,
        "fair_value": 135.748511,
        "relative_strength": -5.755338,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 55.774853,
        "energy": 32.759089,
        "activity_lines": [
          121.899433,
          121.62802,
          120.149701,
          119.677404
        ]
      },
      {
        "date": "2024-08-09",
        "close": 124.794662,
        "volume": 928534,
        "typical_volume": 2452096.85,
        "trend": 119.737971,
        "fair_value": 135.549534,
        "relative_strength": -3.603435,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 65.252922,
        "energy": 40.039318,
        "activity_lines": [
          122.964345,
          122.311432,
          120.715148,
          120.008066
        ]
      },
      {
        "date": "2024-08-16",
        "close": 126.292198,
        "volume": 1272039,
        "typical_volume": 2435087.9,
        "trend": 119.856472,
        "fair_value": 135.356776,
        "relative_strength": -3.906688,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 69.508358,
        "energy": 50.874999,
        "activity_lines": [
          124.19565,
          123.130456,
          121.392177,
          120.43092
        ]
      },
      {
        "date": "2024-08-23",
        "close": 126.791374,
        "volume": 773179,
        "typical_volume": 2330186.2,
        "trend": 119.991611,
        "fair_value": 135.154449,
        "relative_strength": -3.485877,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 68.029897,
        "energy": 61.336206,
        "activity_lines": [
          125.293841,
          123.89449,
          122.059563,
          120.878333
        ]
      },
      {
        "date": "2024-08-30",
        "close": 127.290558,
        "volume": 647398,
        "typical_volume": 2273348.35,
        "trend": 120.176652,
        "fair_value": 134.971283,
        "relative_strength": -3.430097,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 66.547187,
        "energy": 65.327549,
        "activity_lines": [
          126.292199,
          124.657976,
          122.719682,
          121.349233
        ]
      },
      {
        "date": "2024-09-06",
        "close": 129.287247,
        "volume": 5170602,
        "typical_volume": 2472190.25,
        "trend": 120.461511,
        "fair_value": 134.797724,
        "relative_strength": 0.612589,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 72.95766,
        "energy": 70.588644,
        "activity_lines": [
          127.556776,
          125.711333,
          123.517529,
          121.937013
        ]
      },
      {
        "date": "2024-09-13",
        "close": 129.786453,
        "volume": 1027450,
        "typical_volume": 2169284.6,
        "trend": 120.796273,
        "fair_value": 134.636941,
        "relative_strength": 0.07632,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 71.057306,
        "energy": 69.465242,
        "activity_lines": [
          128.521858,
          126.718767,
          124.296227,
          122.538622
        ]
      },
      {
        "date": "2024-09-20",
        "close": 130.285645,
        "volume": 2988516,
        "typical_volume": 1849052.35,
        "trend": 121.131044,
        "fair_value": 134.476166,
        "relative_strength": 1.109268,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 70.005315,
        "energy": 69.097949,
        "activity_lines": [
          129.320551,
          127.635444,
          125.055773,
          123.15084
        ]
      },
      {
        "date": "2024-09-27",
        "close": 127.319939,
        "volume": 1355653,
        "typical_volume": 1842029.75,
        "trend": 121.366958,
        "fair_value": 134.309149,
        "relative_strength": -2.036864,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 61.496368,
        "energy": 51.777505,
        "activity_lines": [
          128.864446,
          127.858609,
          125.473306,
          123.550123
        ]
      },
      {
        "date": "2024-10-04",
        "close": 126.820648,
        "volume": 1151886,
        "typical_volume": 1809073.35,
        "trend": 121.519704,
        "fair_value": 134.151699,
        "relative_strength": -1.722705,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 57.112755,
        "energy": 39.996536,
        "activity_lines": [
          128.206672,
          127.908777,
          125.797844,
          123.901974
        ]
      },
      {
        "date": "2024-10-11",
        "close": 126.820648,
        "volume": 1321364,
        "typical_volume": 1805469.8,
        "trend": 121.75462,
        "fair_value": 133.981482,
        "relative_strength": -1.187072,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 42.997905,
        "energy": 28.664788,
        "activity_lines": [
          127.580226,
          127.858576,
          126.079317,
          124.24397
        ]
      },
      {
        "date": "2024-10-18",
        "close": 129.317123,
        "volume": 769289,
        "typical_volume": 1778842.85,
        "trend": 122.122657,
        "fair_value": 133.843227,
        "relative_strength": -0.283382,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 47.877224,
        "energy": 27.74398,
        "activity_lines": [
          127.950378,
          128.180065,
          126.55786,
          124.731874
        ]
      },
      {
        "date": "2024-10-25",
        "close": 129.317123,
        "volume": 587075,
        "typical_volume": 1662828.5,
        "trend": 122.623775,
        "fair_value": 133.708165,
        "relative_strength": 1.270842,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 47.665936,
        "energy": 29.372546,
        "activity_lines": [
          128.351819,
          128.419327,
          126.979074,
          125.196033
        ]
      },
      {
        "date": "2024-11-01",
        "close": 127.819244,
        "volume": 907479,
        "typical_volume": 1561628.25,
        "trend": 123.041694,
        "fair_value": 133.547541,
        "relative_strength": 1.198777,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 41.013067,
        "energy": 27.598306,
        "activity_lines": [
          128.318535,
          128.331248,
          127.205057,
          125.531225
        ]
      },
      {
        "date": "2024-11-08",
        "close": 128.318527,
        "volume": 790239,
        "typical_volume": 1472014.4,
        "trend": 123.442985,
        "fair_value": 133.377348,
        "relative_strength": 3.108221,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 50.574421,
        "energy": 32.750869,
        "activity_lines": [
          128.418392,
          128.31526,
          127.449781,
          125.871665
        ]
      },
      {
        "date": "2024-11-15",
        "close": 127.319939,
        "volume": 1159549,
        "typical_volume": 1467741.3,
        "trend": 123.84426,
        "fair_value": 133.197563,
        "relative_strength": 2.608554,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 37.835421,
        "energy": 22.995338,
        "activity_lines": [
          128.085527,
          128.09902,
          127.575344,
          126.121791
        ]
      },
      {
        "date": "2024-11-22",
        "close": 126.321358,
        "volume": 2422366,
        "typical_volume": 1524063.8,
        "trend": 124.195615,
        "fair_value": 133.033721,
        "relative_strength": -0.389338,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 32.987621,
        "energy": 15.383251,
        "activity_lines": [
          127.386516,
          127.736988,
          127.579374,
          126.281604
        ]
      },
      {
        "date": "2024-11-29",
        "close": 126.820648,
        "volume": 1807372,
        "typical_volume": 1446797.9,
        "trend": 124.497072,
        "fair_value": 132.856928,
        "relative_strength": -0.084023,
        "stage": 2,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "up",
        "direction": 19.942381,
        "energy": 11.656314,
        "activity_lines": [
          127.053652,
          127.528739,
          127.599914,
          126.450961
        ]
      },
      {
        "date": "2024-12-06",
        "close": 123.354965,
        "volume": 1381164,
        "typical_volume": 1474880.25,
        "trend": 124.683006,
        "fair_value": 132.638763,
        "relative_strength": -2.828307,
        "stage": 2,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "up",
        "direction": -4.649692,
        "energy": 13.34348,
        "activity_lines": [
          125.731993,
          126.753366,
          127.26648,
          126.377277
        ]
      },
      {
        "date": "2024-12-13",
        "close": 122.855553,
        "volume": 1262956,
        "typical_volume": 1466645.95,
        "trend": 124.852293,
        "fair_value": 132.430168,
        "relative_strength": -2.905734,
        "stage": 2,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": -24.837088,
        "energy": 29.868927,
        "activity_lines": [
          124.541482,
          125.95928,
          126.882831,
          126.259377
        ]
      },
      {
        "date": "2024-12-20",
        "close": 123.854378,
        "volume": 867701,
        "typical_volume": 1429590.55,
        "trend": 125.038238,
        "fair_value": 132.240747,
        "relative_strength": 0.656919,
        "stage": 2,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": -18.665618,
        "energy": 35.514831,
        "activity_lines": [
          124.04811,
          125.418892,
          126.586902,
          126.194995
        ]
      },
      {
        "date": "2024-12-27",
        "close": 124.35379,
        "volume": 242060,
        "typical_volume": 1395266.85,
        "trend": 125.274101,
        "fair_value": 132.057719,
        "relative_strength": 0.438505,
        "stage": 2,
        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
        "direction": -18.265328,
        "energy": 37.631941,
        "activity_lines": [
          123.952247,
          125.023238,
          126.331128,
          126.150837
        ]
      },
      {
        "date": "2025-01-03",
        "close": 123.854378,
        "volume": 318046,
        "typical_volume": 1347567.2,
        "trend": 125.460047,
        "fair_value": 131.874683,
        "relative_strength": -0.672508,
        "stage": 2,
        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
        "direction": -26.547238,
        "energy": 34.570505,
        "activity_lines": [
          123.821084,
          124.627025,
          126.029891,
          126.059242
        ]
      },
      {
        "date": "2025-01-10",
        "close": 123.854378,
        "volume": 1494018,
        "typical_volume": 1383609.15,
        "trend": 125.529546,
        "fair_value": 131.682069,
        "relative_strength": -0.831502,
        "stage": 2,
        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
        "direction": -26.290543,
        "energy": 22.276157,
        "activity_lines": [
          123.887672,
          124.330134,
          125.740263,
          125.955651
        ]
      },
      {
        "date": "2025-01-17",
        "close": 124.85321,
        "volume": 736968,
        "typical_volume": 1388087.65,
        "trend": 125.582434,
        "fair_value": 131.495857,
        "relative_strength": -2.830644,
        "stage": 2,
        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
        "direction": -22.337318,
        "energy": 16.91577,
        "activity_lines": [
          124.25391,
          124.286937,
          125.559747,
          125.912016
        ]
      },
      {
        "date": "2025-01-24",
        "close": 123.354965,
        "volume": 623550,
        "typical_volume": 1160735.05,
        "trend": 125.635286,
        "fair_value": 131.277692,
        "relative_strength": -3.773106,
        "stage": 3,
        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
        "direction": -27.065685,
        "energy": 19.269966,
        "activity_lines": [
          123.987556,
          124.034338,
          125.248147,
          125.768308
        ]
      },
      {
        "date": "2025-01-31",
        "close": 124.35379,
        "volume": 1106664,
        "typical_volume": 1164695.75,
        "trend": 125.786983,
        "fair_value": 131.062738,
        "relative_strength": -4.712574,
        "stage": 3,
        "regime": "rotation_down",
        "modifier": "Structural failure",
        "gate": "down",
        "direction": -37.721018,
        "energy": 20.9845,
        "activity_lines": [
          124.087438,
          124.035434,
          125.059923,
          125.685631
        ]
      },
      {
        "date": "2025-02-07",
        "close": 122.35614,
        "volume": 979187,
        "typical_volume": 1064229.3,
        "trend": 125.805534,
        "fair_value": 130.850941,
        "relative_strength": -6.30354,
        "stage": 3,
        "regime": "rotation_down",
        "modifier": "Structural failure",
        "gate": "down",
        "direction": -57.636316,
        "energy": 30.578257,
        "activity_lines": [
          123.521437,
          123.709095,
          124.707316,
          125.464286
        ]
      },
      {
        "date": "2025-02-14",
        "close": 122.855553,
        "volume": 1111982,
        "typical_volume": 1052045.75,
        "trend": 125.807454,
        "fair_value": 130.648731,
        "relative_strength": -6.090334,
        "stage": 3,
        "regime": "rotation_down",
        "modifier": "Structural failure",
        "gate": "down",
        "direction": -55.329446,
        "energy": 39.439183,
        "activity_lines": [
          123.221789,
          123.554731,
          124.440032,
          125.273965
        ]
      },
      {
        "date": "2025-02-21",
        "close": 122.855553,
        "volume": 2492664,
        "typical_volume": 1119084.65,
        "trend": 125.859292,
        "fair_value": 130.462485,
        "relative_strength": -5.125178,
        "stage": 3,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -53.096785,
        "energy": 36.787482,
        "activity_lines": [
          122.988729,
          123.409447,
          124.194006,
          125.08352
        ]
      },
      {
        "date": "2025-02-28",
        "close": 124.35379,
        "volume": 1663649,
        "typical_volume": 1136198.9,
        "trend": 125.927793,
        "fair_value": 130.323974,
        "relative_strength": -5.419726,
        "stage": 3,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -50.194208,
        "energy": 29.362063,
        "activity_lines": [
          123.388259,
          123.53657,
          124.109552,
          124.986391
        ]
      },
      {
        "date": "2025-03-07",
        "close": 125.852036,
        "volume": 938996,
        "typical_volume": 1144684.25,
        "trend": 125.963038,
        "fair_value": 130.172714,
        "relative_strength": -2.665765,
        "stage": 3,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -25.822364,
        "energy": 12.42634,
        "activity_lines": [
          124.220616,
          123.927021,
          124.179534,
          124.981503
        ]
      },
      {
        "date": "2025-03-14",
        "close": 122.884583,
        "volume": 1155725,
        "typical_volume": 1173116.75,
        "trend": 125.849451,
        "fair_value": 129.999238,
        "relative_strength": -4.280491,
        "stage": 1,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -41.171421,
        "energy": 17.519802,
        "activity_lines": [
          123.963939,
          123.750695,
          123.983403,
          124.782893
        ]
      },
      {
        "date": "2025-03-21",
        "close": 124.383171,
        "volume": 2136647,
        "typical_volume": 1234575.15,
        "trend": 125.769178,
        "fair_value": 129.838562,
        "relative_strength": -3.209517,
        "stage": 1,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -30.296254,
        "energy": 15.649099,
        "activity_lines": [
          124.171562,
          123.864471,
          123.960625,
          124.688294
        ]
      },
      {
        "date": "2025-03-28",
        "close": 124.882706,
        "volume": 546632,
        "typical_volume": 1222394.8,
        "trend": 125.688916,
        "fair_value": 129.674701,
        "relative_strength": -2.963116,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -14.924934,
        "energy": 10.017427,
        "activity_lines": [
          124.443855,
          124.059458,
          124.001784,
          124.631103
        ]
      },
      {
        "date": "2025-04-04",
        "close": 121.885521,
        "volume": 918728,
        "typical_volume": 1210353.75,
        "trend": 125.442192,
        "fair_value": 129.498015,
        "relative_strength": 1.734783,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -53.916225,
        "energy": 25.98859,
        "activity_lines": [
          123.581943,
          123.708966,
          123.773858,
          124.385722
        ]
      },
      {
        "date": "2025-04-11",
        "close": 121.885521,
        "volume": 2636844,
        "typical_volume": 1221077.65,
        "trend": 125.178827,
        "fair_value": 129.314941,
        "relative_strength": 2.793492,
        "stage": 1,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -51.481528,
        "energy": 29.247032,
        "activity_lines": [
          122.884582,
          123.385191,
          123.57181,
          124.15626
        ]
      },
      {
        "date": "2025-04-18",
        "close": 122.884583,
        "volume": 596067,
        "typical_volume": 1160512.4,
        "trend": 124.932125,
        "fair_value": 129.125499,
        "relative_strength": -0.296855,
        "stage": 1,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -45.953654,
        "energy": 30.736138,
        "activity_lines": [
          122.784676,
          123.287941,
          123.486034,
          124.008244
        ]
      },
      {
        "date": "2025-04-25",
        "close": 122.385048,
        "volume": 1268253,
        "typical_volume": 1154866.85,
        "trend": 124.767629,
        "fair_value": 128.936047,
        "relative_strength": -2.38961,
        "stage": 1,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -48.61761,
        "energy": 38.124248,
        "activity_lines": [
          122.518259,
          123.090258,
          123.371426,
          123.843916
        ]
      },
      {
        "date": "2025-05-02",
        "close": 122.385048,
        "volume": 2252895,
        "typical_volume": 1204363.8,
        "trend": 124.619776,
        "fair_value": 128.746596,
        "relative_strength": -4.433308,
        "stage": 1,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -47.442746,
        "energy": 30.977478,
        "activity_lines": [
          122.38505,
          122.90113,
          123.261437,
          123.690201
        ]
      },
      {
        "date": "2025-05-09",
        "close": 121.885521,
        "volume": 1496443,
        "typical_volume": 1235800.9,
        "trend": 124.455271,
        "fair_value": 128.56512,
        "relative_strength": -4.39544,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -51.833082,
        "energy": 26.396609,
        "activity_lines": [
          122.251842,
          122.629734,
          123.106115,
          123.513798
        ]
      },
      {
        "date": "2025-05-16",
        "close": 122.385048,
        "volume": 3347925,
        "typical_volume": 1391094.15,
        "trend": 124.224202,
        "fair_value": 128.382055,
        "relative_strength": -5.451183,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -47.714228,
        "energy": 24.430756,
        "activity_lines": [
          122.285143,
          122.494039,
          123.007742,
          123.380235
        ]
      },
      {
        "date": "2025-05-23",
        "close": 121.885521,
        "volume": 1828756,
        "typical_volume": 1466629.65,
        "trend": 123.976482,
        "fair_value": 128.208562,
        "relative_strength": -6.168907,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -49.33182,
        "energy": 24.836604,
        "activity_lines": [
          122.118634,
          122.330556,
          122.87117,
          123.229352
        ]
      },
      {
        "date": "2025-05-30",
        "close": 125.382233,
        "volume": 921037,
        "typical_volume": 1437980.6,
        "trend": 123.895248,
        "fair_value": 128.060677,
        "relative_strength": -4.090574,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -18.888462,
        "energy": 8.17251,
        "activity_lines": [
          123.184299,
          122.821004,
          123.076994,
          123.320046
        ]
      },
      {
        "date": "2025-06-06",
        "close": 124.383171,
        "volume": 1852302,
        "typical_volume": 1493747.3,
        "trend": 123.76407,
        "fair_value": 127.906388,
        "relative_strength": -5.526944,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -21.476931,
        "energy": 12.725168,
        "activity_lines": [
          123.717131,
          123.11164,
          123.180393,
          123.351525
        ]
      },
      {
        "date": "2025-06-13",
        "close": 125.881767,
        "volume": 1896727,
        "typical_volume": 1557406.15,
        "trend": 123.716131,
        "fair_value": 127.758511,
        "relative_strength": -4.436615,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": 17.617453,
        "energy": 19.335858,
        "activity_lines": [
          124.616287,
          123.68383,
          123.428754,
          123.488151
        ]
      },
      {
        "date": "2025-06-20",
        "close": 127.380356,
        "volume": 2564110,
        "typical_volume": 1630278.45,
        "trend": 123.751431,
        "fair_value": 127.629821,
        "relative_strength": -2.406154,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": 37.343597,
        "energy": 43.152118,
        "activity_lines": [
          125.748557,
          124.455832,
          123.807806,
          123.724552
        ]
      },
      {
        "date": "2025-06-27",
        "close": 129.378479,
        "volume": 1674448,
        "typical_volume": 1665041.5,
        "trend": 123.836692,
        "fair_value": 127.52352,
        "relative_strength": -1.120889,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "up",
        "direction": 72.386662,
        "energy": 68.065795,
        "activity_lines": [
          127.213846,
          125.491222,
          124.362742,
          124.087588
        ]
      },
      {
        "date": "2025-07-04",
        "close": 127.90918,
        "volume": 3651234,
        "typical_volume": 1792004.1,
        "trend": 123.988499,
        "fair_value": 127.420387,
        "relative_strength": -2.4964,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 63.263935,
        "energy": 65.763713,
        "activity_lines": [
          127.689839,
          126.141397,
          124.744306,
          124.350329
        ]
      },
      {
        "date": "2025-07-11",
        "close": 126.909882,
        "volume": 2191720,
        "typical_volume": 1776956.9,
        "trend": 124.123643,
        "fair_value": 127.30446,
        "relative_strength": -4.467318,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 60.627214,
        "energy": 63.25752,
        "activity_lines": [
          127.66427,
          126.509442,
          125.006634,
          124.538805
        ]
      },
      {
        "date": "2025-07-18",
        "close": 127.409531,
        "volume": 1421966,
        "typical_volume": 1764872.75,
        "trend": 124.242148,
        "fair_value": 127.214094,
        "relative_strength": -4.525472,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 58.00251,
        "energy": 53.259153,
        "activity_lines": [
          127.636802,
          126.886063,
          125.297241,
          124.750798
        ]
      },
      {
        "date": "2025-07-25",
        "close": 127.90918,
        "volume": 2056332,
        "typical_volume": 1820739.55,
        "trend": 124.360661,
        "fair_value": 127.104573,
        "relative_strength": -5.422988,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 57.56053,
        "energy": 37.228696,
        "activity_lines": [
          127.674034,
          127.253093,
          125.620882,
          124.98738
        ]
      },
      {
        "date": "2025-08-01",
        "close": 126.909882,
        "volume": 1798142,
        "typical_volume": 1852860.4,
        "trend": 124.462512,
        "fair_value": 126.979064,
        "relative_strength": -5.508503,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 52.730888,
        "energy": 31.972232,
        "activity_lines": [
          127.342911,
          127.337993,
          125.839556,
          125.151846
        ]
      },
      {
        "date": "2025-08-08",
        "close": 127.409531,
        "volume": 1418991,
        "typical_volume": 1816977.6,
        "trend": 124.581017,
        "fair_value": 126.85037,
        "relative_strength": -5.262827,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 42.060692,
        "energy": 28.081975,
        "activity_lines": [
          127.342911,
          127.422387,
          126.086648,
          125.341977
        ]
      },
      {
        "date": "2025-08-15",
        "close": 127.409531,
        "volume": 1246700,
        "typical_volume": 1851981.0,
        "trend": 124.666227,
        "fair_value": 126.727873,
        "relative_strength": -5.556669,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 39.623896,
        "energy": 25.872912,
        "activity_lines": [
          127.376221,
          127.469921,
          126.319329,
          125.524461
        ]
      },
      {
        "date": "2025-08-22",
        "close": 123.912018,
        "volume": 2069512,
        "typical_volume": 1909520.2,
        "trend": 124.684796,
        "fair_value": 126.595735,
        "relative_strength": -9.720337,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 17.855472,
        "energy": 12.421854,
        "activity_lines": [
          126.210383,
          126.826518,
          126.20688,
          125.475803
        ]
      },
      {
        "date": "2025-08-29",
        "close": 125.41095,
        "volume": 2137856,
        "typical_volume": 1884570.8,
        "trend": 124.720034,
        "fair_value": 126.495568,
        "relative_strength": -7.107055,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 24.304806,
        "energy": 15.659794,
        "activity_lines": [
          125.777357,
          126.491462,
          126.227537,
          125.522651
        ]
      },
      {
        "date": "2025-09-05",
        "close": 128.908463,
        "volume": 1745326,
        "typical_volume": 1942033.75,
        "trend": 124.938445,
        "fair_value": 126.427405,
        "relative_strength": -4.507815,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 43.891385,
        "energy": 19.237943,
        "activity_lines": [
          126.676717,
          126.828125,
          126.564503,
          125.792873
        ]
      },
      {
        "date": "2025-09-12",
        "close": 129.907761,
        "volume": 1457589,
        "typical_volume": 1951500.55,
        "trend": 125.173519,
        "fair_value": 126.391205,
        "relative_strength": -4.333465,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 59.670867,
        "energy": 29.796412,
        "activity_lines": [
          127.775938,
          127.355025,
          126.967955,
          126.113474
        ]
      },
      {
        "date": "2025-09-19",
        "close": 127.409531,
        "volume": 2181569,
        "typical_volume": 1947934.25,
        "trend": 125.325318,
        "fair_value": 126.345379,
        "relative_strength": -5.245224,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 45.863621,
        "energy": 33.120824,
        "activity_lines": [
          127.875867,
          127.391362,
          127.097657,
          126.257732
        ]
      },
      {
        "date": "2025-09-26",
        "close": 125.940002,
        "volume": 1319004,
        "typical_volume": 1939062.3,
        "trend": 125.378192,
        "fair_value": 126.293329,
        "relative_strength": -6.811676,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 39.901878,
        "energy": 28.476768,
        "activity_lines": [
          127.485953,
          127.151429,
          127.063479,
          126.297389
        ]
      },
      {
        "date": "2025-10-03",
        "close": 125.940002,
        "volume": 1203794,
        "typical_volume": 1831855.75,
        "trend": 125.381124,
        "fair_value": 126.250862,
        "relative_strength": -8.592013,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 25.828559,
        "energy": 14.516822,
        "activity_lines": [
          126.96084,
          126.938214,
          127.009993,
          126.333635
        ]
      },
      {
        "date": "2025-10-10",
        "close": 124.440712,
        "volume": 927502,
        "typical_volume": 1786793.05,
        "trend": 125.432995,
        "fair_value": 126.257885,
        "relative_strength": -8.807355,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "up",
        "direction": 0.385413,
        "energy": 9.406726,
        "activity_lines": [
          125.900693,
          126.488204,
          126.79679,
          126.272964
        ]
      },
      {
        "date": "2025-10-17",
        "close": 123.940956,
        "volume": 1564279,
        "typical_volume": 1818955.15,
        "trend": 125.418255,
        "fair_value": 126.252121,
        "relative_strength": -8.194694,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": -22.625277,
        "energy": 23.999709,
        "activity_lines": [
          124.971811,
          125.992223,
          126.523823,
          126.176703
        ]
      },
      {
        "date": "2025-10-24",
        "close": 124.440712,
        "volume": 1030786,
        "typical_volume": 1777879.35,
        "trend": 125.403521,
        "fair_value": 126.23199,
        "relative_strength": -10.273495,
        "stage": 3,
        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
        "direction": -20.097263,
        "energy": 32.309615,
        "activity_lines": [
          124.607302,
          125.650172,
          126.305315,
          126.113636
        ]
      },
      {
        "date": "2025-10-31",
        "close": 123.441193,
        "volume": 1395545,
        "typical_volume": 1752820.25,
        "trend": 125.455377,
        "fair_value": 126.195868,
        "relative_strength": -11.303589,
        "stage": 3,
        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
        "direction": -27.149357,
        "energy": 42.562928,
        "activity_lines": [
          124.10754,
          125.180369,
          125.991341,
          125.987034
        ]
      },
      {
        "date": "2025-11-07",
        "close": 122.441666,
        "volume": 2062833,
        "typical_volume": 1727756.4,
        "trend": 125.473915,
        "fair_value": 126.118197,
        "relative_strength": -11.319447,
        "stage": 4,
        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
        "direction": -39.348335,
        "energy": 48.613931,
        "activity_lines": [
          123.441191,
          124.537394,
          125.593796,
          125.792601
        ]
      },
      {
        "date": "2025-11-14",
        "close": 121.442139,
        "volume": 2993892,
        "typical_volume": 1793728.6,
        "trend": 125.425834,
        "fair_value": 126.037314,
        "relative_strength": -11.79799,
        "stage": 4,
        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
        "direction": -42.958614,
        "energy": 51.318713,
        "activity_lines": [
          122.674888,
          123.766674,
          125.124575,
          125.532486
        ]
      },
      {
        "date": "2025-11-21",
        "close": 122.191788,
        "volume": 1793297,
        "typical_volume": 1700831.75,
        "trend": 125.419392,
        "fair_value": 125.935679,
        "relative_strength": -9.47299,
        "stage": 4,
        "regime": "rotation_down",
        "modifier": "Structural failure",
        "gate": "down",
        "direction": -63.233353,
        "energy": 60.904819,
        "activity_lines": [
          122.358373,
          123.268005,
          124.764541,
          125.323838
        ]
      },
      {
        "date": "2025-11-28",
        "close": 121.94191,
        "volume": 1922036,
        "typical_volume": 1687347.55,
        "trend": 125.404621,
        "fair_value": 125.883369,
        "relative_strength": -11.004835,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -63.350768,
        "energy": 61.334388,
        "activity_lines": [
          122.075176,
          122.864194,
          124.407935,
          125.099485
        ]
      },
      {
        "date": "2025-12-05",
        "close": 121.471298,
        "volume": 2534658,
        "typical_volume": 1742982.15,
        "trend": 125.390813,
        "fair_value": 125.815261,
        "relative_strength": -10.579392,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -65.015008,
        "energy": 59.879013,
        "activity_lines": [
          121.801696,
          122.474228,
          124.030166,
          124.845722
        ]
      },
      {
        "date": "2025-12-12",
        "close": 122.970947,
        "volume": 3874218,
        "typical_volume": 1833876.45,
        "trend": 125.410343,
        "fair_value": 125.801502,
        "relative_strength": -9.050542,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -57.329844,
        "energy": 37.759855,
        "activity_lines": [
          122.159425,
          122.438175,
          123.823498,
          124.689601
        ]
      },
      {
        "date": "2025-12-19",
        "close": 122.970947,
        "volume": 1787614,
        "typical_volume": 1833350.05,
        "trend": 125.446524,
        "fair_value": 125.743007,
        "relative_strength": -10.979439,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -44.34979,
        "energy": 28.72454,
        "activity_lines": [
          122.481868,
          122.456105,
          123.640345,
          124.532221
        ]
      },
      {
        "date": "2025-12-26",
        "close": 123.470825,
        "volume": 1153276,
        "typical_volume": 1820064.3,
        "trend": 125.38281,
        "fair_value": 125.681326,
        "relative_strength": -10.034941,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -39.946242,
        "energy": 22.977515,
        "activity_lines": [
          122.869017,
          122.591645,
          123.523557,
          124.404757
        ]
      },
      {
        "date": "2026-01-02",
        "close": 123.970711,
        "volume": 995311,
        "typical_volume": 1807494.85,
        "trend": 125.369062,
        "fair_value": 125.5877,
        "relative_strength": -10.076885,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -33.773691,
        "energy": 18.910849,
        "activity_lines": [
          123.337526,
          122.826621,
          123.473133,
          124.313653
        ]
      },
      {
        "date": "2026-01-09",
        "close": 123.970711,
        "volume": 1943199,
        "typical_volume": 1801179.2,
        "trend": 125.30536,
        "fair_value": 125.468511,
        "relative_strength": -11.276598,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -29.679262,
        "energy": 17.961452,
        "activity_lines": [
          123.670781,
          123.070143,
          123.439084,
          124.223437
        ]
      },
      {
        "date": "2026-01-16",
        "close": 123.970711,
        "volume": 1527583,
        "typical_volume": 1770665.55,
        "trend": 125.191705,
        "fair_value": 125.384471,
        "relative_strength": -11.921062,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -26.23823,
        "energy": 16.309699,
        "activity_lines": [
          123.837409,
          123.304037,
          123.404755,
          124.137331
        ]
      },
      {
        "date": "2026-01-23",
        "close": 123.970711,
        "volume": 2894043,
        "typical_volume": 1828101.4,
        "trend": 125.011446,
        "fair_value": 125.297236,
        "relative_strength": -10.837969,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -16.036576,
        "energy": 11.771358,
        "activity_lines": [
          123.937385,
          123.51013,
          123.377285,
          124.058557
        ]
      },
      {
        "date": "2026-01-30",
        "close": 123.970711,
        "volume": 2631346,
        "typical_volume": 1886789.25,
        "trend": 124.880164,
        "fair_value": 125.189231,
        "relative_strength": -11.261364,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -15.81289,
        "energy": 10.176557,
        "activity_lines": [
          123.970711,
          123.670249,
          123.373327,
          123.991413
        ]
      },
      {
        "date": "2026-02-06",
        "close": 124.470589,
        "volume": 1688621,
        "typical_volume": 1862141.85,
        "trend": 124.798854,
        "fair_value": 125.102005,
        "relative_strength": -11.905162,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -10.585955,
        "energy": 8.579241,
        "activity_lines": [
          124.137337,
          123.888911,
          123.445249,
          123.964989
        ]
      },
      {
        "date": "2026-02-13",
        "close": 126.470116,
        "volume": 1012558,
        "typical_volume": 1846819.55,
        "trend": 124.76754,
        "fair_value": 125.002034,
        "relative_strength": -10.899577,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": 22.56522,
        "energy": 22.630897,
        "activity_lines": [
          124.937147,
          124.425147,
          123.721597,
          124.072812
        ]
      },
      {
        "date": "2026-02-20",
        "close": 127.969765,
        "volume": 2447942,
        "typical_volume": 1909026.95,
        "trend": 124.76956,
        "fair_value": 124.940434,
        "relative_strength": -11.595052,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": 31.312425,
        "energy": 42.106697,
        "activity_lines": [
          126.070213,
          125.14316,
          124.138245,
          124.279407
        ]
      },
      {
        "date": "2026-02-27",
        "close": 127.469879,
        "volume": 1073866,
        "typical_volume": 1916345.15,
        "trend": 124.788226,
        "fair_value": 124.878634,
        "relative_strength": -13.446957,
        "stage": 3,
        "regime": "rotation_up",
        "modifier": "Structural repair",
        "gate": "mixed",
        "direction": 35.821072,
        "energy": 50.498266,
        "activity_lines": [
          126.770046,
          125.679396,
          124.497618,
          124.453621
        ]
      },
      {
        "date": "2026-03-06",
        "close": 125.470352,
        "volume": 2309557,
        "typical_volume": 1953609.05,
        "trend": 124.723587,
        "fair_value": 124.813604,
        "relative_strength": -9.323683,
        "stage": 3,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "mixed",
        "direction": 29.389389,
        "energy": 45.372916,
        "activity_lines": [
          126.570093,
          125.770283,
          124.652136,
          124.497629
        ]
      },
      {
        "date": "2026-03-13",
        "close": 122.0,
        "volume": 2570121,
        "typical_volume": 2030575.8,
        "trend": 124.543269,
        "fair_value": 124.723133,
        "relative_strength": -11.331567,
        "stage": 3,
        "regime": "rotation_up",
        "modifier": "Emerging rotation",
        "gate": "mixed",
        "direction": -5.490316,
        "energy": 8.882439,
        "activity_lines": [
          125.113379,
          125.193842,
          124.468862,
          124.321914
        ]
      },
      {
        "date": "2026-03-20",
        "close": 122.0,
        "volume": 1726459,
        "typical_volume": 2047121.5,
        "trend": 124.479535,
        "fair_value": 124.648642,
        "relative_strength": -7.991027,
        "stage": 4,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": -14.222773,
        "energy": 13.356143,
        "activity_lines": [
          123.821372,
          124.653232,
          124.297209,
          124.157832
        ]
      },
      {
        "date": "2026-03-27",
        "close": 116.5,
        "volume": 2641027,
        "typical_volume": 2076031.2,
        "trend": 124.182504,
        "fair_value": 124.54209,
        "relative_strength": -12.226544,
        "stage": 4,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "down",
        "direction": -76.124123,
        "energy": 50.675382,
        "activity_lines": [
          120.994039,
          123.148453,
          123.60861,
          123.643024
        ]
      },
      {
        "date": "2026-04-03",
        "close": 114.5,
        "volume": 2840516,
        "typical_volume": 2068362.4,
        "trend": 123.702221,
        "fair_value": 124.432306,
        "relative_strength": -17.111303,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -80.932107,
        "energy": 77.110622,
        "activity_lines": [
          118.26469,
          121.415869,
          122.757829,
          123.018346
        ]
      },
      {
        "date": "2026-04-10",
        "close": 118.0,
        "volume": 2341877,
        "typical_volume": 2095791.4,
        "trend": 123.305296,
        "fair_value": 124.341763,
        "relative_strength": -15.387817,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -62.140562,
        "energy": 72.189094,
        "activity_lines": [
          117.566667,
          120.491843,
          122.273439,
          122.650461
        ]
      },
      {
        "date": "2026-04-17",
        "close": 120.5,
        "volume": 1251345,
        "typical_volume": 2062256.85,
        "trend": 123.074978,
        "fair_value": 124.276832,
        "relative_strength": -13.690423,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -60.361738,
        "energy": 66.546359,
        "activity_lines": [
          118.2,
          120.130922,
          122.047104,
          122.469474
        ]
      },
      {
        "date": "2026-04-24",
        "close": 119.0,
        "volume": 1111510,
        "typical_volume": 1991099.45,
        "trend": 122.843645,
        "fair_value": 124.218267,
        "relative_strength": -11.997609,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -55.887292,
        "energy": 42.322551,
        "activity_lines": [
          118.433333,
          119.569465,
          121.684779,
          122.206572
        ]
      },
      {
        "date": "2026-05-01",
        "close": 119.969742,
        "volume": 833500,
        "typical_volume": 1839063.55,
        "trend": 122.644636,
        "fair_value": 124.169114,
        "relative_strength": -10.799992,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -49.505009,
        "energy": 28.064919,
        "activity_lines": [
          119.189914,
          119.320146,
          121.426579,
          122.021159
        ]
      },
      {
        "date": "2026-05-08",
        "close": 117.470375,
        "volume": 1591840,
        "typical_volume": 1829274.85,
        "trend": 122.412292,
        "fair_value": 124.110332,
        "relative_strength": -11.177553,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -45.957535,
        "energy": 25.446255,
        "activity_lines": [
          118.882056,
          118.761851,
          120.944634,
          121.687336
        ]
      },
      {
        "date": "2026-05-15",
        "close": 117.970245,
        "volume": 909090,
        "typical_volume": 1817065.55,
        "trend": 122.213268,
        "fair_value": 124.064342,
        "relative_strength": -10.132608,
        "stage": 4,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "down",
        "direction": -42.762891,
        "energy": 25.912362,
        "activity_lines": [
          118.542797,
          118.47625,
          120.53649,
          121.400752
        ]
      },
      {
        "date": "2026-05-22",
        "close": 115.970757,
        "volume": 1437458,
        "typical_volume": 1839172.9,
        "trend": 121.930936,
        "fair_value": 124.015123,
        "relative_strength": -13.567956,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -59.645602,
        "energy": 34.816917,
        "activity_lines": [
          117.539025,
          117.963472,
          119.964112,
          120.998009
        ]
      },
      {
        "date": "2026-05-29",
        "close": 116.970505,
        "volume": 1458731,
        "typical_volume": 1814949.5,
        "trend": 121.715247,
        "fair_value": 123.972312,
        "relative_strength": -11.94184,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -55.079455,
        "energy": 38.795294,
        "activity_lines": [
          117.170452,
          117.742089,
          119.525042,
          120.677981
        ]
      },
      {
        "date": "2026-06-05",
        "close": 113.0756,
        "volume": 228496,
        "typical_volume": 1749995.15,
        "trend": 121.403044,
        "fair_value": 123.888554,
        "relative_strength": -14.125806,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -68.56167,
        "energy": 53.144226,
        "activity_lines": [
          115.638877,
          116.903987,
          118.748364,
          120.120585
        ]
      },
      {
        "date": "2026-06-12",
        "close": 113.563,
        "volume": 1075271,
        "typical_volume": 1659056.55,
        "trend": 121.140406,
        "fair_value": 123.811117,
        "relative_strength": -14.169851,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -66.123696,
        "energy": 59.515056,
        "activity_lines": [
          114.729378,
          116.216765,
          118.069986,
          119.614775
        ]
      },
      {
        "date": "2026-06-19",
        "close": 112.5882,
        "volume": 553169,
        "typical_volume": 1555147.7,
        "trend": 120.820287,
        "fair_value": 123.730626,
        "relative_strength": -13.535833,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -67.176105,
        "energy": 61.588036,
        "activity_lines": [
          113.755438,
          115.369342,
          117.348331,
          119.06302
        ]
      },
      {
        "date": "2026-06-26",
        "close": 112.5882,
        "volume": 161445,
        "typical_volume": 1478788.9,
        "trend": 120.508497,
        "fair_value": 123.64694,
        "relative_strength": -14.202619,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -65.675449,
        "energy": 65.165974,
        "activity_lines": [
          113.1403,
          114.620316,
          116.680878,
          118.531918
        ]
      },
      {
        "date": "2026-07-03",
        "close": 116.0,
        "volume": 1376405,
        "typical_volume": 1496981.25,
        "trend": 120.32612,
        "fair_value": 123.604114,
        "relative_strength": -12.528527,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -58.919955,
        "energy": 48.473454,
        "activity_lines": [
          113.887933,
          114.635469,
          116.394941,
          118.241047
        ]
      },
      {
        "date": "2026-07-10",
        "close": 116.5,
        "volume": 977785,
        "typical_volume": 1423473.4,
        "trend": 120.110422,
        "fair_value": 123.574082,
        "relative_strength": -10.200381,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -45.099883,
        "energy": 31.28141,
        "activity_lines": [
          114.866933,
          114.796076,
          116.206481,
          117.994201
        ]
      },
      {
        "date": "2026-07-17",
        "close": 114.5,
        "volume": 853645,
        "typical_volume": 1412462.35,
        "trend": 119.828057,
        "fair_value": 123.52164,
        "relative_strength": -12.140017,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -43.673222,
        "energy": 26.84767,
        "activity_lines": [
          114.950973,
          114.656132,
          115.882162,
          117.632238
        ]
      },
      {
        "date": "2026-07-24",
        "close": 116.0,
        "volume": 1787804,
        "typical_volume": 1386374.7,
        "trend": 119.579029,
        "fair_value": 123.488404,
        "relative_strength": -11.669972,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -37.106575,
        "energy": 20.296191,
        "activity_lines": [
          115.472547,
          114.842923,
          115.762463,
          117.385267
        ]
      },
      {
        "date": "2026-07-31",
        "close": 118.0,
        "volume": 822280,
        "typical_volume": 1298982.65,
        "trend": 119.380006,
        "fair_value": 123.455201,
        "relative_strength": -10.7976,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -24.751405,
        "energy": 17.429484,
        "activity_lines": [
          116.433333,
          115.429173,
          115.878336,
          117.283394
        ]
      },
      {
        "date": "2026-08-07",
        "close": 117.0,
        "volume": 1268987,
        "typical_volume": 1276109.05,
        "trend": 119.147649,
        "fair_value": 123.405997,
        "relative_strength": -11.362686,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -26.677487,
        "energy": 16.508506,
        "activity_lines": [
          116.7,
          115.796709,
          115.918019,
          117.129845
        ]
      }
    ],
    "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."
    }
  }
}