{ "ticker": { "uuid": "17850894-74ad-4027-9efc-e12e63971fab", "symbol": "600036", "name": "China Merchants Bank Co., Ltd.", "exchange": "SHH", "country": "CN", "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": "000001.SS", "stage": 4, "stage_name": "Declining", "phase": "4b", "phase_label": "Stage 4B \u00b7 Declining", "transition": "stage_4_declining", "transition_label": "Stage 4 decline intact", "confidence": 66.085, "architecture_regime": "rotation_up", "architecture_regime_label": "Rotation Up", "architecture_modifier": "Structural repair", "architecture_gate": "mixed", "architecture_direction": 17.738, "architecture_energy": 32.268, "architecture_maturity": 29.63, "architecture_confidence": 76.568, "architecture_tenure": "New", "architecture": { "interpretation": { "headline": "The Activity Line structure is rotating upward.", "body": "Fast Activity is improving relative to Slow Activity and price acceptance is strengthening. This is earlier than full positive Trend confirmation and remains a developing repair." }, "scores": { "balance": 44.11, "rotation_up": 63.37, "upward_expansion": 41.25, "deceleration": 44.2, "rotation_down": 16.73, "downward_expansion": 18.58 }, "activity_lines": [ 38.866666, 37.961943, 37.826273, 38.091021 ], "activity_state": "Moderate", "activity_direction": "Contracting", "rotation_direction": "Improving", "price_acceptance": 0.333333 }, "latest_close": 38.799999, "trend_reference": 38.408833, "distance_from_trend": 0.010184, "trend_direction": "Weakening", "fair_value": 35.221028, "distance_from_fair_value": 0.101615, "fair_value_direction": "Weakening", "relative_strength": -1.477199, "relative_strength_direction": "Improving", "price_momentum": 0.003362, "excess_performance": 0.046566, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.010184, "read": "Above" }, { "label": "Trend direction", "positive": false, "value": -0.031416, "read": "Falling" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.101615, "read": "Premium" }, { "label": "Fair Value direction", "positive": false, "value": -0.000603, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.014772, "read": "Lagging" }, { "label": "Relative strength direction", "positive": true, "value": 0.139943, "read": "Improving" }, { "label": "Price momentum", "positive": true, "value": 0.003362, "read": "Positive" }, { "label": "Volume balance", "positive": true, "value": 1.49882, "read": "Demand-led" } ], "volume": { "latest": 491634871, "relative_activity": 1.433555, "balance": 1.49882, "dry_up": 1.557871, "accumulation_observations": 5, "distribution_observations": 4 }, "risk": { "range_context": 0.034438, "annualized_volatility": 0.154356, "from_high_reference": -0.129558, "from_low_reference": 0.11106 }, "levels": { "trend_reference": 38.408833, "fair_value_reference": 35.221028, "structural_low": 34.921609, "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": 6, "median_return": 0.012227, "positive_rate": 0.5, "directional_follow_through": 0.5, "median_excess_return": -0.003756, "regime_survival": 0.333333, "best_return": 0.128678, "worst_return": -0.100855, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 4, "median_return": -0.001708, "positive_rate": 0.5, "directional_follow_through": 0.5, "median_excess_return": -0.019695, "regime_survival": 0.0, "best_return": 0.104126, "worst_return": -0.117094, "sufficient": false }, { "horizon": "Extended", "sample_count": 4, "median_return": -0.007416, "positive_rate": 0.5, "directional_follow_through": 0.5, "median_excess_return": 0.077723, "regime_survival": 0.0, "best_return": 0.213023, "worst_return": -0.138746, "sufficient": false }, { "horizon": "Full cycle", "sample_count": 2, "median_return": 0.076505, "positive_rate": 0.5, "directional_follow_through": 0.5, "median_excess_return": 0.033389, "regime_survival": 0.0, "best_return": 0.332202, "worst_return": -0.179192, "sufficient": false } ], "ledger": [ { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2024-09-27", "end": "2024-10-04", "tenure": "New", "return": 0.055571, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2024-10-11", "end": "2024-11-29", "tenure": "Developing", "return": -0.054385, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2024-12-06", "end": "2024-12-27", "tenure": "New", "return": 0.043501, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-01-03", "end": "2025-04-18", "tenure": "Established", "return": 0.105794, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2025-04-25", "end": "2025-05-23", "tenure": "Developing", "return": 0.046815, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-05-30", "end": "2025-08-08", "tenure": "Developing", "return": 0.069676, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2025-08-15", "end": "2025-09-19", "tenure": "Developing", "return": -0.053118, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2025-09-26", "end": "2025-10-24", "tenure": "Developing", "return": 0.028186, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2025-10-31", "end": "2025-11-14", "tenure": "New", "return": 0.057716, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-11-21", "end": "2026-01-16", "tenure": "Developing", "return": -0.076204, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2026-01-23", "end": "2026-03-27", "tenure": "Developing", "return": 0.051733, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-04-03", "end": "2026-05-08", "tenure": "Developing", "return": -0.037056, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2026-05-15", "end": "2026-07-31", "tenure": "Developing", "return": 0.052324, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2026-08-07", "end": "2026-08-07", "tenure": "New", "return": 0.0, "active": true } ], "chart_path": [ { "date": "2023-07-28", "close": 30.930237, "volume": 380727094, "typical_volume": 240434023.75, "trend": 29.495876, "fair_value": 34.406784, "relative_strength": 4.918708, "stage": 1, "regime": "rotation_up", "modifier": "Structural repair", "gate": "down", "direction": 10.090781, "energy": 14.292926, "activity_lines": [ 28.831343, 28.337069, 28.259527, 28.669438 ] }, { "date": "2023-08-04", "close": 30.736378, "volume": 406014580, "typical_volume": 245115419.85, "trend": 29.483261, "fair_value": 34.423334, "relative_strength": 3.818274, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 33.224269, "energy": 36.503923, "activity_lines": [ 29.6483, 28.823821, 28.489199, 28.74947 ] }, { "date": "2023-08-11", "close": 29.211895, "volume": 212775170, "typical_volume": 242909515.05, "trend": 29.388655, "fair_value": 34.437515, "relative_strength": 1.692571, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 18.416588, "energy": 36.112127, "activity_lines": [ 29.731804, 28.971647, 28.563952, 28.731963 ] }, { "date": "2023-08-18", "close": 28.092764, "volume": 315085422, "typical_volume": 245954863.35, "trend": 29.221114, "fair_value": 34.443521, "relative_strength": -0.434065, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 7.492918, "energy": 23.612021, "activity_lines": [ 29.293552, 28.886976, 28.52993, 28.648357 ] }, { "date": "2023-08-25", "close": 27.81078, "volume": 303111681, "typical_volume": 251743284.7, "trend": 29.005482, "fair_value": 34.438666, "relative_strength": 0.681852, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -25.307576, "energy": 13.610728, "activity_lines": [ 28.764242, 28.752537, 28.471553, 28.557368 ] }, { "date": "2023-09-01", "close": 28.436436, "volume": 396681159, "typical_volume": 257534809.4, "trend": 28.859417, "fair_value": 34.430868, "relative_strength": 0.588128, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -31.29686, "energy": 21.011733, "activity_lines": [ 28.457584, 28.741367, 28.476089, 28.520655 ] }, { "date": "2023-09-08", "close": 29.229515, "volume": 275556536, "typical_volume": 253513446.25, "trend": 28.771521, "fair_value": 34.429305, "relative_strength": 3.790898, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 3.664185, "energy": 11.248524, "activity_lines": [ 28.581539, 28.860992, 28.557498, 28.544532 ] }, { "date": "2023-09-15", "close": 29.044464, "volume": 208632586, "typical_volume": 242754677.3, "trend": 28.717819, "fair_value": 34.423155, "relative_strength": 3.029515, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 2.757222, "energy": 6.152136, "activity_lines": [ 28.744267, 28.912925, 28.619285, 28.562142 ] }, { "date": "2023-09-22", "close": 29.37932, "volume": 215752390, "typical_volume": 245910683.0, "trend": 28.654402, "fair_value": 34.427404, "relative_strength": 3.607965, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 21.712594, "energy": 18.012129, "activity_lines": [ 29.029777, 28.988227, 28.708268, 28.604819 ] }, { "date": "2023-09-29", "close": 29.05328, "volume": 151957045, "typical_volume": 235541845.35, "trend": 28.558127, "fair_value": 34.427362, "relative_strength": 3.180278, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 45.286099, "energy": 32.416077, "activity_lines": [ 29.120836, 28.981659, 28.764244, 28.630553 ] }, { "date": "2023-10-13", "close": 28.736044, "volume": 210790239, "typical_volume": 235922752.2, "trend": 28.540908, "fair_value": 34.416533, "relative_strength": 2.789863, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 44.155222, "energy": 24.811981, "activity_lines": [ 29.023316, 28.898666, 28.78702, 28.642032 ] }, { "date": "2023-10-20", "close": 27.890087, "volume": 179920270, "typical_volume": 234376119.85, "trend": 28.514141, "fair_value": 34.409335, "relative_strength": 3.263959, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 7.740845, "energy": 4.64566, "activity_lines": [ 28.623837, 28.701757, 28.727393, 28.600043 ] }, { "date": "2023-10-27", "close": 27.784344, "volume": 181350440, "typical_volume": 232023434.15, "trend": 28.4819, "fair_value": 34.407362, "relative_strength": 1.525239, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -15.184053, "energy": 15.263154, "activity_lines": [ 28.278405, 28.537372, 28.655078, 28.55296 ] }, { "date": "2023-11-03", "close": 27.308495, "volume": 270065012, "typical_volume": 235511713.9, "trend": 28.438252, "fair_value": 34.401438, "relative_strength": -0.827502, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -27.036421, "energy": 38.440241, "activity_lines": [ 27.858365, 28.312425, 28.536641, 28.477256 ] }, { "date": "2023-11-10", "close": 26.577095, "volume": 232586170, "typical_volume": 238056043.15, "trend": 28.373842, "fair_value": 34.372818, "relative_strength": -3.938669, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -75.81699, "energy": 71.853244, "activity_lines": [ 27.33258, 27.968756, 28.352676, 28.357181 ] }, { "date": "2023-11-17", "close": 26.7269, "volume": 243269775, "typical_volume": 245147155.1, "trend": 28.307467, "fair_value": 34.337955, "relative_strength": -4.055001, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -70.28484, "energy": 74.560684, "activity_lines": [ 27.021809, 27.674754, 28.191343, 28.250927 ] }, { "date": "2023-11-24", "close": 26.436104, "volume": 172243379, "typical_volume": 245440334.75, "trend": 28.228336, "fair_value": 34.308281, "relative_strength": -4.729657, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -73.900199, "energy": 78.960555, "activity_lines": [ 26.748049, 27.358963, 28.006947, 28.130194 ] }, { "date": "2023-12-01", "close": 24.902811, "volume": 311111871, "typical_volume": 251138614.95, "trend": 28.123148, "fair_value": 34.255422, "relative_strength": -9.896864, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -89.454278, "energy": 89.212701, "activity_lines": [ 26.060124, 26.815181, 27.680908, 27.915644 ] }, { "date": "2023-12-08", "close": 24.233093, "volume": 291650386, "typical_volume": 254997816.85, "trend": 27.965295, "fair_value": 34.197771, "relative_strength": -10.349171, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -91.311123, "energy": 95.483933, "activity_lines": [ 25.341061, 26.224935, 27.300983, 27.664673 ] }, { "date": "2023-12-15", "close": 23.995167, "volume": 335948107, "typical_volume": 264761465.6, "trend": 27.817604, "fair_value": 34.126238, "relative_strength": -10.235645, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -86.776527, "energy": 94.578468, "activity_lines": [ 24.747717, 25.684997, 26.916988, 27.408535 ] }, { "date": "2023-12-22", "close": 24.330027, "volume": 276761459, "typical_volume": 259563183.85, "trend": 27.683581, "fair_value": 34.052851, "relative_strength": -7.877052, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -72.363974, "energy": 89.622195, "activity_lines": [ 24.438121, 25.297908, 26.584061, 27.18353 ] }, { "date": "2023-12-29", "close": 24.515079, "volume": 291176411, "typical_volume": 253821275.4, "trend": 27.589407, "fair_value": 33.980999, "relative_strength": -8.755896, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -67.980643, "energy": 87.049316, "activity_lines": [ 24.35, 25.024575, 26.300188, 26.979111 ] }, { "date": "2024-01-05", "close": 24.929245, "volume": 280388632, "typical_volume": 257201948.5, "trend": 27.499853, "fair_value": 33.92731, "relative_strength": -5.471005, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -65.320265, "energy": 64.301951, "activity_lines": [ 24.528003, 24.887908, 26.085384, 26.807487 ] }, { "date": "2024-01-12", "close": 25.149546, "volume": 314227451, "typical_volume": 257159049.95, "trend": 27.398993, "fair_value": 33.872931, "relative_strength": -2.794355, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -61.253488, "energy": 54.428629, "activity_lines": [ 24.777678, 24.843207, 25.911955, 26.655855 ] }, { "date": "2024-01-19", "close": 26.198177, "volume": 490823667, "typical_volume": 266544649.25, "trend": 27.327798, "fair_value": 33.827176, "relative_strength": 3.234566, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -44.417028, "energy": 34.400073, "activity_lines": [ 25.315799, 25.02842, 25.85241, 26.578383 ] }, { "date": "2024-01-26", "close": 27.423052, "volume": 565507558, "typical_volume": 274985969.2, "trend": 27.318588, "fair_value": 33.78312, "relative_strength": 5.380064, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -13.102095, "energy": 23.07149, "activity_lines": [ 26.115345, 25.443227, 25.9172, 26.584528 ] }, { "date": "2024-02-02", "close": 26.638779, "volume": 423876448, "typical_volume": 282401964.8, "trend": 27.294647, "fair_value": 33.72078, "relative_strength": 9.292527, "stage": 1, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -18.143852, "energy": 26.284736, "activity_lines": [ 26.447265, 25.702781, 25.912122, 26.54067 ] }, { "date": "2024-02-09", "close": 27.669786, "volume": 410965218, "typical_volume": 292518596.4, "trend": 27.3176, "fair_value": 33.64234, "relative_strength": 8.238856, "stage": 1, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": 12.199596, "energy": 29.726354, "activity_lines": [ 26.981273, 26.146106, 26.017573, 26.564872 ] }, { "date": "2024-02-23", "close": 29.035654, "volume": 440316001, "typical_volume": 303746776.95, "trend": 27.347561, "fair_value": 33.570154, "relative_strength": 8.354347, "stage": 1, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 45.354247, "energy": 47.519155, "activity_lines": [ 27.787869, 26.787463, 26.259652, 26.675714 ] }, { "date": "2024-03-01", "close": 28.145638, "volume": 281969145, "typical_volume": 310247381.95, "trend": 27.351673, "fair_value": 33.494964, "relative_strength": 4.312142, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 29.075062, "energy": 50.608271, "activity_lines": [ 28.038718, 27.179678, 26.418605, 26.727203 ] }, { "date": "2024-03-08", "close": 27.907711, "volume": 296204373, "typical_volume": 314518088.65, "trend": 27.250922, "fair_value": 33.400041, "relative_strength": 2.876793, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 27.86647, "energy": 57.421293, "activity_lines": [ 28.080428, 27.453172, 26.559219, 26.763077 ] }, { "date": "2024-03-15", "close": 27.475924, "volume": 300613444, "typical_volume": 320552747.35, "trend": 27.14224, "fair_value": 33.303301, "relative_strength": 1.130802, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 24.878306, "energy": 45.018359, "activity_lines": [ 27.945898, 27.583109, 26.662656, 26.777593 ] }, { "date": "2024-03-22", "close": 27.493547, "volume": 270683485, "typical_volume": 325019399.6, "trend": 27.084962, "fair_value": 33.203422, "relative_strength": 1.4228, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 19.072351, "energy": 23.102945, "activity_lines": [ 27.761433, 27.662418, 26.769743, 26.800258 ] }, { "date": "2024-03-29", "close": 28.37475, "volume": 350969849, "typical_volume": 329064641.45, "trend": 27.094362, "fair_value": 33.129701, "relative_strength": 4.795886, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 36.405082, "energy": 27.11261, "activity_lines": [ 27.882451, 27.855321, 26.962139, 26.88347 ] }, { "date": "2024-04-05", "close": 28.401186, "volume": 160485294, "typical_volume": 325459597.65, "trend": 27.114042, "fair_value": 33.054648, "relative_strength": 3.831495, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 34.385663, "energy": 27.851873, "activity_lines": [ 28.056342, 27.994391, 27.151976, 26.967781 ] }, { "date": "2024-04-12", "close": 28.304253, "volume": 228802889, "typical_volume": 324736253.35, "trend": 27.109636, "fair_value": 32.96937, "relative_strength": 5.041733, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 31.37487, "energy": 29.74121, "activity_lines": [ 28.180885, 28.075782, 27.323894, 27.044569 ] }, { "date": "2024-04-19", "close": 29.626059, "volume": 400137030, "typical_volume": 336130935.9, "trend": 27.122854, "fair_value": 32.900369, "relative_strength": 8.049269, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 76.330728, "energy": 66.58576, "activity_lines": [ 28.719594, 28.381479, 27.614188, 27.206919 ] }, { "date": "2024-04-26", "close": 30.383894, "volume": 343775167, "typical_volume": 337764100.7, "trend": 27.167502, "fair_value": 32.837026, "relative_strength": 9.683475, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 81.255564, "energy": 79.113169, "activity_lines": [ 29.367572, 28.770651, 27.961466, 27.417308 ] }, { "date": "2024-05-03", "close": 30.234091, "volume": 168610592, "typical_volume": 331612111.0, "trend": 27.195994, "fair_value": 32.775973, "relative_strength": 8.338807, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 75.795298, "energy": 82.114321, "activity_lines": [ 29.772927, 29.083238, 28.268376, 27.615153 ] }, { "date": "2024-05-10", "close": 31.388464, "volume": 334017210, "typical_volume": 331515566.15, "trend": 27.273833, "fair_value": 32.725823, "relative_strength": 10.346629, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 85.621388, "energy": 91.783704, "activity_lines": [ 30.439116, 29.583921, 28.656651, 27.885635 ] }, { "date": "2024-05-17", "close": 32.472347, "volume": 431887813, "typical_volume": 339271883.85, "trend": 27.398377, "fair_value": 32.685171, "relative_strength": 13.785704, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 88.76935, "energy": 94.32209, "activity_lines": [ 31.267447, 30.222714, 29.112947, 28.221023 ] }, { "date": "2024-05-24", "close": 30.613007, "volume": 381975178, "typical_volume": 343811822.2, "trend": 27.489141, "fair_value": 32.614793, "relative_strength": 9.2489, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 66.917176, "energy": 83.537036, "activity_lines": [ 31.198126, 30.440451, 29.35339, 28.428418 ] }, { "date": "2024-05-31", "close": 30.207651, "volume": 260634722, "typical_volume": 342824126.7, "trend": 27.569918, "fair_value": 32.544818, "relative_strength": 7.61142, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 64.567927, "energy": 64.922611, "activity_lines": [ 30.92789, 30.52745, 29.526189, 28.603806 ] }, { "date": "2024-06-07", "close": 29.952106, "volume": 318844724, "typical_volume": 343054990.35, "trend": 27.658038, "fair_value": 32.465801, "relative_strength": 7.646448, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 59.940733, "energy": 49.711714, "activity_lines": [ 30.584221, 30.518638, 29.649516, 28.757496 ] }, { "date": "2024-06-14", "close": 29.793488, "volume": 274368740, "typical_volume": 332232244.0, "trend": 27.765251, "fair_value": 32.381766, "relative_strength": 7.445907, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 42.049538, "energy": 28.691657, "activity_lines": [ 30.206479, 30.452307, 29.734867, 28.895267 ] }, { "date": "2024-06-21", "close": 29.696556, "volume": 241372456, "typical_volume": 316025488.9, "trend": 27.86424, "fair_value": 32.301461, "relative_strength": 8.059038, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 36.195497, "energy": 24.395074, "activity_lines": [ 29.902757, 30.343038, 29.793865, 29.019867 ] }, { "date": "2024-06-28", "close": 30.128345, "volume": 286430975, "typical_volume": 309153215.25, "trend": 27.987314, "fair_value": 32.201965, "relative_strength": 10.418905, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 33.917843, "energy": 22.322531, "activity_lines": [ 29.928018, 30.286962, 29.883161, 29.165938 ] }, { "date": "2024-07-05", "close": 30.586571, "volume": 272930098, "typical_volume": 302251459.25, "trend": 28.176773, "fair_value": 32.110258, "relative_strength": 12.36105, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 42.111254, "energy": 23.449396, "activity_lines": [ 30.138332, 30.305067, 29.99948, 29.333632 ] }, { "date": "2024-07-12", "close": 31.767294, "volume": 357037448, "typical_volume": 298087531.6, "trend": 28.427913, "fair_value": 32.032123, "relative_strength": 15.343212, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 68.674638, "energy": 41.084728, "activity_lines": [ 30.716959, 30.534163, 30.214359, 29.565279 ] }, { "date": "2024-07-19", "close": 32.000877, "volume": 291704978, "typical_volume": 298574323.25, "trend": 28.69477, "fair_value": 31.963688, "relative_strength": 15.214898, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 71.36899, "energy": 54.802651, "activity_lines": [ 31.252435, 30.777853, 30.438476, 29.795793 ] }, { "date": "2024-07-26", "close": 30.244329, "volume": 319295360, "typical_volume": 299728872.6, "trend": 28.891914, "fair_value": 31.87544, "relative_strength": 11.924453, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 55.405692, "energy": 41.990137, "activity_lines": [ 31.055235, 30.691036, 30.476945, 29.895764 ] }, { "date": "2024-08-02", "close": 30.16024, "volume": 219489564, "typical_volume": 295672678.6, "trend": 29.080086, "fair_value": 31.80341, "relative_strength": 10.708903, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 51.854615, "energy": 35.437666, "activity_lines": [ 30.793487, 30.629439, 30.496279, 29.977592 ] }, { "date": "2024-08-09", "close": 30.206961, "volume": 236688846, "typical_volume": 293972946.65, "trend": 29.256009, "fair_value": 31.747436, "relative_strength": 12.295652, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 36.893064, "energy": 20.589965, "activity_lines": [ 30.545187, 30.584569, 30.507279, 30.050293 ] }, { "date": "2024-08-16", "close": 30.973112, "volume": 204205985, "typical_volume": 286634753.45, "trend": 29.450128, "fair_value": 31.684367, "relative_strength": 14.125608, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 39.700074, "energy": 19.292906, "activity_lines": [ 30.577577, 30.679012, 30.578326, 30.161074 ] }, { "date": "2024-08-23", "close": 31.486992, "volume": 207312445, "typical_volume": 288976111.0, "trend": 29.626422, "fair_value": 31.629465, "relative_strength": 16.592511, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 50.748321, "energy": 25.635664, "activity_lines": [ 30.834207, 30.848323, 30.68594, 30.292485 ] }, { "date": "2024-08-30", "close": 30.038778, "volume": 278223290, "typical_volume": 291447131.05, "trend": 29.713613, "fair_value": 31.583491, "relative_strength": 11.343699, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 27.039235, "energy": 15.160607, "activity_lines": [ 30.642357, 30.723533, 30.640935, 30.319088 ] }, { "date": "2024-09-06", "close": 29.197878, "volume": 236954402, "typical_volume": 283287999.65, "trend": 29.798916, "fair_value": 31.526535, "relative_strength": 10.884048, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": -1.170427, "energy": 4.397605, "activity_lines": [ 30.183911, 30.439629, 30.507585, 30.285815 ] }, { "date": "2024-09-13", "close": 28.590563, "volume": 266913220, "typical_volume": 279444902.3, "trend": 29.829609, "fair_value": 31.44727, "relative_strength": 10.720898, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -29.566899, "energy": 33.001641, "activity_lines": [ 29.587184, 30.062221, 30.318434, 30.207857 ] }, { "date": "2024-09-20", "close": 28.908237, "volume": 135714908, "typical_volume": 277800118.1, "trend": 29.825362, "fair_value": 31.37081, "relative_strength": 10.34933, "stage": 1, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -25.296192, "energy": 44.614137, "activity_lines": [ 29.204108, 29.778864, 30.168077, 30.148413 ] }, { "date": "2024-09-27", "close": 33.290253, "volume": 605285732, "typical_volume": 291363544.2, "trend": 29.996849, "fair_value": 31.325929, "relative_strength": 12.310905, "stage": 2, "regime": "rotation_up", "modifier": "Structural repair", "gate": "up", "direction": 49.404418, "energy": 21.500877, "activity_lines": [ 30.419362, 30.34422, 30.441369, 30.371955 ] }, { "date": "2024-10-04", "close": 35.140232, "volume": 256101260, "typical_volume": 282574216.55, "trend": 30.237933, "fair_value": 31.284443, "relative_strength": 9.453048, "stage": 2, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "up", "direction": 75.915607, "energy": 66.138616, "activity_lines": [ 32.131059, 31.222492, 30.881793, 30.703786 ] }, { "date": "2024-10-11", "close": 35.906384, "volume": 716574499, "typical_volume": 299304182.6, "trend": 30.518948, "fair_value": 31.236993, "relative_strength": 15.547227, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 81.202806, "energy": 83.286174, "activity_lines": [ 33.758043, 32.151048, 31.382479, 31.069492 ] }, { "date": "2024-10-18", "close": 36.485668, "volume": 503857968, "typical_volume": 311465344.9, "trend": 30.818686, "fair_value": 31.207979, "relative_strength": 15.401455, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 79.383671, "energy": 89.350367, "activity_lines": [ 35.130888, 33.080453, 31.91313, 31.454442 ] }, { "date": "2024-10-25", "close": 36.532383, "volume": 272940863, "typical_volume": 309170151.85, "trend": 31.090607, "fair_value": 31.191985, "relative_strength": 13.824891, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 73.707527, "energy": 90.097079, "activity_lines": [ 35.992964, 33.904194, 32.418333, 31.823068 ] }, { "date": "2024-11-01", "close": 35.513962, "volume": 343622545, "typical_volume": 312632842.1, "trend": 31.327699, "fair_value": 31.160846, "relative_strength": 11.225866, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 67.24966, "energy": 84.880307, "activity_lines": [ 36.00729, 34.44169, 32.79521, 32.108445 ] }, { "date": "2024-11-08", "close": 36.252087, "volume": 341253378, "typical_volume": 317626888.2, "trend": 31.592627, "fair_value": 31.131976, "relative_strength": 7.29336, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 67.911531, "energy": 74.709477, "activity_lines": [ 36.11941, 35.040172, 33.215144, 32.426148 ] }, { "date": "2024-11-15", "close": 35.336441, "volume": 345745641, "typical_volume": 320592621.5, "trend": 31.782973, "fair_value": 31.085027, "relative_strength": 8.005112, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 62.990042, "energy": 54.406673, "activity_lines": [ 35.852192, 35.359204, 33.516657, 32.667684 ] }, { "date": "2024-11-22", "close": 34.056404, "volume": 277681492, "typical_volume": 320830191.2, "trend": 31.90539, "fair_value": 31.024846, "relative_strength": 5.770395, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 47.844482, "energy": 37.733386, "activity_lines": [ 35.19629, 35.333892, 33.671461, 32.814357 ] }, { "date": "2024-11-29", "close": 33.953629, "volume": 250191191, "typical_volume": 315487878.35, "trend": 32.029375, "fair_value": 30.965648, "relative_strength": 3.267426, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 42.658133, "energy": 29.588743, "activity_lines": [ 34.668081, 35.190514, 33.799954, 32.946502 ] }, { "date": "2024-12-06", "close": 35.224323, "volume": 321333463, "typical_volume": 316969302.6, "trend": 32.157237, "fair_value": 30.926958, "relative_strength": 4.256576, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 40.605131, "energy": 24.365453, "activity_lines": [ 34.735354, 35.186438, 34.039054, 33.152627 ] }, { "date": "2024-12-13", "close": 34.850586, "volume": 375452946, "typical_volume": 319777181.9, "trend": 32.236511, "fair_value": 30.881563, "relative_strength": 3.099009, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 38.09259, "energy": 21.20437, "activity_lines": [ 34.697357, 35.079244, 34.22721, 33.326392 ] }, { "date": "2024-12-20", "close": 35.420532, "volume": 320262153, "typical_volume": 324815811.35, "trend": 32.396762, "fair_value": 30.840181, "relative_strength": 5.047015, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 43.197488, "energy": 25.270942, "activity_lines": [ 34.942776, 35.080943, 34.447713, 33.531813 ] }, { "date": "2024-12-27", "close": 36.756626, "volume": 389160458, "typical_volume": 332439391.95, "trend": 32.615061, "fair_value": 30.818803, "relative_strength": 7.472701, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 69.189086, "energy": 44.529626, "activity_lines": [ 35.627953, 35.334402, 34.770413, 33.813094 ] }, { "date": "2025-01-03", "close": 36.121277, "volume": 264714608, "typical_volume": 335464823.1, "trend": 32.8207, "fair_value": 30.787452, "relative_strength": 11.182003, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 60.144875, "energy": 46.106664, "activity_lines": [ 35.921332, 35.467417, 35.001416, 34.039302 ] }, { "date": "2025-01-10", "close": 36.420269, "volume": 278989985, "typical_volume": 339048700.1, "trend": 33.041593, "fair_value": 30.746528, "relative_strength": 12.979513, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 64.980778, "energy": 63.191341, "activity_lines": [ 36.169865, 35.662268, 35.236378, 34.271532 ] }, { "date": "2025-01-17", "close": 38.036659, "volume": 317952986, "typical_volume": 341035184.9, "trend": 33.319596, "fair_value": 30.729918, "relative_strength": 14.674192, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 79.001694, "energy": 77.223685, "activity_lines": [ 36.877466, 36.13453, 35.601791, 34.593794 ] }, { "date": "2025-01-24", "close": 37.616211, "volume": 271344254, "typical_volume": 342754677.5, "trend": 33.569192, "fair_value": 30.715281, "relative_strength": 12.540206, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 70.056482, "energy": 70.688656, "activity_lines": [ 37.232512, 36.4979, 35.889076, 34.870995 ] }, { "date": "2025-01-31", "close": 37.980602, "volume": 52606047, "typical_volume": 332039318.85, "trend": 33.81566, "fair_value": 30.708879, "relative_strength": 13.222074, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 72.247024, "energy": 75.106195, "activity_lines": [ 37.562643, 36.886073, 36.170977, 35.155602 ] }, { "date": "2025-02-07", "close": 37.56015, "volume": 149194349, "typical_volume": 332713290.9, "trend": 34.008755, "fair_value": 30.698038, "relative_strength": 9.840211, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 64.64038, "energy": 69.929632, "activity_lines": [ 37.671025, 37.126451, 36.368121, 35.397182 ] }, { "date": "2025-02-14", "close": 39.269978, "volume": 260411251, "typical_volume": 315469566.85, "trend": 34.251058, "fair_value": 30.70344, "relative_strength": 12.926727, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 79.868369, "energy": 73.032651, "activity_lines": [ 38.253425, 37.612134, 36.686906, 35.736616 ] }, { "date": "2025-02-21", "close": 38.681351, "volume": 246042410, "typical_volume": 314966624.35, "trend": 34.532292, "fair_value": 30.685577, "relative_strength": 9.805234, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 68.835592, "energy": 69.208464, "activity_lines": [ 38.449635, 37.917236, 36.921157, 36.022441 ] }, { "date": "2025-02-28", "close": 39.288666, "volume": 288289512, "typical_volume": 293552375.0, "trend": 34.836573, "fair_value": 30.684995, "relative_strength": 12.956643, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 72.649805, "energy": 64.864498, "activity_lines": [ 38.805305, 38.263109, 37.196385, 36.329304 ] }, { "date": "2025-03-07", "close": 40.708851, "volume": 259689810, "typical_volume": 281343967.1, "trend": 35.186636, "fair_value": 30.675306, "relative_strength": 14.635116, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 83.173475, "energy": 78.84646, "activity_lines": [ 39.522872, 38.796867, 37.590762, 36.708161 ] }, { "date": "2025-03-14", "close": 42.194439, "volume": 298956379, "typical_volume": 282644742.9, "trend": 35.56068, "fair_value": 30.678732, "relative_strength": 16.473436, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 87.58521, "energy": 87.65349, "activity_lines": [ 40.553752, 39.528874, 38.106513, 37.160277 ] }, { "date": "2025-03-21", "close": 41.764648, "volume": 310720341, "typical_volume": 280999632.7, "trend": 35.903269, "fair_value": 30.690944, "relative_strength": 16.445254, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 78.030577, "energy": 86.823674, "activity_lines": [ 41.132415, 40.072316, 38.55437, 37.560533 ] }, { "date": "2025-03-28", "close": 40.381836, "volume": 359890896, "typical_volume": 281931508.6, "trend": 36.248038, "fair_value": 30.699985, "relative_strength": 12.492248, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 66.519331, "energy": 72.560396, "activity_lines": [ 41.08383, 40.267167, 38.840765, 37.849473 ] }, { "date": "2025-04-04", "close": 39.849266, "volume": 172429662, "typical_volume": 273265709.65, "trend": 36.603084, "fair_value": 30.727414, "relative_strength": 10.786385, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 63.326962, "energy": 55.578532, "activity_lines": [ 40.744356, 40.322548, 39.056774, 38.08181 ] }, { "date": "2025-04-11", "close": 38.784126, "volume": 572692529, "typical_volume": 288016261.5, "trend": 36.942869, "fair_value": 30.739193, "relative_strength": 10.765627, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 45.950467, "energy": 34.406434, "activity_lines": [ 40.012462, 40.143665, 39.149851, 38.222523 ] }, { "date": "2025-04-18", "close": 39.942699, "volume": 251381144, "typical_volume": 288075759.15, "trend": 37.310685, "fair_value": 30.763476, "relative_strength": 12.2301, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 40.087245, "energy": 24.783621, "activity_lines": [ 39.795074, 40.160823, 39.330756, 38.41606 ] }, { "date": "2025-04-25", "close": 39.3167, "volume": 215599935, "typical_volume": 282789082.75, "trend": 37.511566, "fair_value": 30.773897, "relative_strength": 9.450714, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 34.779743, "energy": 22.373016, "activity_lines": [ 39.519136, 40.020844, 39.423522, 38.54548 ] }, { "date": "2025-05-02", "close": 38.064693, "volume": 201735380, "typical_volume": 274103204.45, "trend": 37.609048, "fair_value": 30.775883, "relative_strength": 6.133104, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 18.919708, "energy": 18.667789, "activity_lines": [ 38.989059, 39.652377, 39.377562, 38.581166 ] }, { "date": "2025-05-09", "close": 40.62476, "volume": 288128823, "typical_volume": 272496537.95, "trend": 37.766327, "fair_value": 30.796074, "relative_strength": 10.707655, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 41.723903, "energy": 19.304816, "activity_lines": [ 39.466813, 39.76059, 39.560112, 38.775728 ] }, { "date": "2025-05-16", "close": 41.362885, "volume": 356514427, "typical_volume": 270864236.4, "trend": 37.928901, "fair_value": 30.843209, "relative_strength": 11.478753, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 59.70088, "energy": 30.826649, "activity_lines": [ 40.13891, 39.978714, 39.788179, 39.007764 ] }, { "date": "2025-05-23", "close": 41.15733, "volume": 260966790, "typical_volume": 270676845.5, "trend": 38.083066, "fair_value": 30.902209, "relative_strength": 11.095486, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 57.123557, "energy": 35.454905, "activity_lines": [ 40.57057, 40.147573, 39.974733, 39.21605 ] }, { "date": "2025-05-30", "close": 40.578049, "volume": 218458614, "typical_volume": 267650276.95, "trend": 38.251869, "fair_value": 30.967858, "relative_strength": 9.11777, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 52.178051, "energy": 44.358743, "activity_lines": [ 40.728162, 40.229965, 40.082138, 39.377016 ] }, { "date": "2025-06-06", "close": 41.549751, "volume": 167191755, "typical_volume": 260112215.4, "trend": 38.428458, "fair_value": 31.043635, "relative_strength": 10.012923, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 60.743178, "energy": 56.202469, "activity_lines": [ 41.125565, 40.510604, 40.262286, 39.589783 ] }, { "date": "2025-06-13", "close": 42.213127, "volume": 270635572, "typical_volume": 260076781.3, "trend": 38.657681, "fair_value": 31.109249, "relative_strength": 11.531671, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 68.8114, "energy": 61.800672, "activity_lines": [ 41.511755, 40.890622, 40.488884, 39.833955 ] }, { "date": "2025-06-20", "close": 42.969936, "volume": 227672277, "typical_volume": 268830092.8, "trend": 38.954799, "fair_value": 31.184023, "relative_strength": 13.547188, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 73.869727, "energy": 67.6304, "activity_lines": [ 42.044325, 41.365263, 40.765668, 40.112165 ] }, { "date": "2025-06-27", "close": 43.184834, "volume": 334676980, "typical_volume": 278104224.35, "trend": 39.262505, "fair_value": 31.261202, "relative_strength": 11.503096, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 72.521737, "energy": 73.040212, "activity_lines": [ 42.54139, 41.802871, 41.039161, 40.385071 ] }, { "date": "2025-07-04", "close": 43.979015, "volume": 282896398, "typical_volume": 279228481.7, "trend": 39.554328, "fair_value": 31.337315, "relative_strength": 11.54529, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 76.144114, "energy": 78.100987, "activity_lines": [ 43.168015, 42.325927, 41.361506, 40.689362 ] }, { "date": "2025-07-11", "close": 44.487335, "volume": 422364166, "typical_volume": 288044569.5, "trend": 39.875553, "fair_value": 31.418072, "relative_strength": 11.244113, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 78.635981, "energy": 83.533213, "activity_lines": [ 43.737349, 42.856635, 41.709838, 41.00762 ] }, { "date": "2025-07-18", "close": 43.912235, "volume": 274320265, "typical_volume": 287346107.15, "trend": 40.15861, "fair_value": 31.493347, "relative_strength": 8.740034, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 65.600098, "energy": 75.830448, "activity_lines": [ 43.919144, 43.166005, 41.975751, 41.268051 ] }, { "date": "2025-07-25", "close": 43.697796, "volume": 386486448, "typical_volume": 293685939.05, "trend": 40.389982, "fair_value": 31.561194, "relative_strength": 6.124012, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 63.253887, "energy": 64.668602, "activity_lines": [ 43.916186, 43.376613, 42.199224, 41.496386 ] }, { "date": "2025-08-01", "close": 43.298145, "volume": 347421698, "typical_volume": 296109205.0, "trend": 40.629211, "fair_value": 31.634533, "relative_strength": 5.832486, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 59.916614, "energy": 48.963769, "activity_lines": [ 43.731487, 43.472105, 42.370402, 41.684009 ] }, { "date": "2025-08-08", "close": 43.405369, "volume": 238062780, "typical_volume": 292476326.95, "trend": 40.862048, "fair_value": 31.726112, "relative_strength": 3.659941, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 56.034482, "energy": 41.817124, "activity_lines": [ 43.574975, 43.548168, 42.546537, 41.863116 ] }, { "date": "2025-08-15", "close": 42.206432, "volume": 358502202, "typical_volume": 292406892.25, "trend": 41.001041, "fair_value": 31.806152, "relative_strength": -0.993269, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 40.165208, "energy": 27.038432, "activity_lines": [ 43.05706, 43.354837, 42.600674, 41.949851 ] }, { "date": "2025-08-22", "close": 42.167442, "volume": 342079230, "typical_volume": 300889370.65, "trend": 41.152748, "fair_value": 31.888725, "relative_strength": -4.418263, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 32.804826, "energy": 21.838474, "activity_lines": [ 42.678209, 43.142477, 42.642409, 42.025102 ] }, { "date": "2025-08-29", "close": 41.806789, "volume": 460455755, "typical_volume": 295277531.95, "trend": 41.280288, "fair_value": 31.973109, "relative_strength": -6.06787, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 20.440464, "energy": 19.824205, "activity_lines": [ 42.295459, 42.865374, 42.638757, 42.067298 ] }, { "date": "2025-09-05", "close": 41.680069, "volume": 505457169, "typical_volume": 307981333.2, "trend": 41.417618, "fair_value": 32.056305, "relative_strength": -5.296408, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 3.701695, "energy": 16.47103, "activity_lines": [ 41.996537, 42.586379, 42.608643, 42.093091 ] }, { "date": "2025-09-12", "close": 41.46563, "volume": 338646584, "typical_volume": 314133665.65, "trend": 41.490807, "fair_value": 32.14091, "relative_strength": -7.219124, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -0.230358, "energy": 16.951092, "activity_lines": [ 41.734007, 42.295755, 42.549833, 42.096188 ] }, { "date": "2025-09-19", "close": 39.964523, "volume": 397098989, "typical_volume": 323901846.1, "trend": 41.533579, "fair_value": 32.216696, "relative_strength": -9.380325, "stage": 3, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -37.248286, "energy": 35.537547, "activity_lines": [ 41.100424, 41.7779, 42.337827, 41.997718 ] }, { "date": "2025-09-26", "close": 39.769573, "volume": 358857616, "typical_volume": 327438285.75, "trend": 41.549609, "fair_value": 32.287913, "relative_strength": -9.952226, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -38.389513, "energy": 56.970773, "activity_lines": [ 40.551318, 41.306833, 42.098208, 41.883912 ] }, { "date": "2025-10-03", "close": 39.389423, "volume": 153557575, "typical_volume": 317290443.15, "trend": 41.505628, "fair_value": 32.355729, "relative_strength": -12.011946, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -40.723611, "energy": 65.113966, "activity_lines": [ 40.035354, 40.841969, 41.826457, 41.744545 ] }, { "date": "2025-10-10", "close": 39.165234, "volume": 192736932, "typical_volume": 313878950.25, "trend": 41.404655, "fair_value": 32.4197, "relative_strength": -12.671152, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -48.407477, "energy": 71.697644, "activity_lines": [ 39.605817, 40.414677, 41.542752, 41.593551 ] }, { "date": "2025-10-17", "close": 40.539623, "volume": 575484468, "typical_volume": 331730242.95, "trend": 41.363821, "fair_value": 32.495639, "relative_strength": -8.161826, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -36.631062, "energy": 56.767993, "activity_lines": [ 39.802066, 40.312418, 41.399427, 41.537743 ] }, { "date": "2025-10-24", "close": 40.89053, "volume": 337274784, "typical_volume": 340234394.4, "trend": 41.380777, "fair_value": 32.577629, "relative_strength": -9.850792, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -31.699994, "energy": 32.635232, "activity_lines": [ 40.177018, 40.326064, 41.289704, 41.507208 ] }, { "date": "2025-10-31", "close": 39.8573, "volume": 444003240, "typical_volume": 348902777.8, "trend": 41.381045, "fair_value": 32.666752, "relative_strength": -12.114031, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -34.564394, "energy": 29.117909, "activity_lines": [ 40.145825, 40.175776, 41.084718, 41.408919 ] }, { "date": "2025-11-07", "close": 41.436386, "volume": 445889429, "typical_volume": 359813635.4, "trend": 41.469454, "fair_value": 32.774027, "relative_strength": -9.589042, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "down", "direction": -36.631855, "energy": 20.834659, "activity_lines": [ 40.635147, 40.354598, 41.04134, 41.41249 ] }, { "date": "2025-11-14", "close": 42.157696, "volume": 277115778, "typical_volume": 356935575.3, "trend": 41.543287, "fair_value": 32.898773, "relative_strength": -7.84546, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "down", "direction": -16.204168, "energy": 17.593687, "activity_lines": [ 41.22844, 40.671301, 41.07396, 41.456892 ] }, { "date": "2025-11-21", "close": 41.914009, "volume": 301692569, "typical_volume": 357875383.85, "trend": 41.629864, "fair_value": 33.011787, "relative_strength": -4.741428, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -14.714086, "energy": 17.390241, "activity_lines": [ 41.541008, 40.935013, 41.088263, 41.48081 ] }, { "date": "2025-11-28", "close": 41.865273, "volume": 291212260, "typical_volume": 351317788.55, "trend": 41.75655, "fair_value": 33.112925, "relative_strength": -6.254099, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -3.869237, "energy": 18.017063, "activity_lines": [ 41.745704, 41.181712, 41.107758, 41.495998 ] }, { "date": "2025-12-05", "close": 42.352646, "volume": 235372779, "typical_volume": 349370414.25, "trend": 41.814146, "fair_value": 33.212745, "relative_strength": -5.587815, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 22.229582, "energy": 26.941632, "activity_lines": [ 42.047875, 41.482465, 41.186155, 41.534455 ] }, { "date": "2025-12-12", "close": 40.685833, "volume": 369299091, "typical_volume": 348511046.4, "trend": 41.791578, "fair_value": 33.296794, "relative_strength": -9.017866, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -13.718048, "energy": 13.993771, "activity_lines": [ 41.628085, 41.433196, 41.113235, 41.461661 ] }, { "date": "2025-12-19", "close": 40.92952, "volume": 310205208, "typical_volume": 346650221.9, "trend": 41.783984, "fair_value": 33.375072, "relative_strength": -8.499462, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -24.747283, "energy": 11.728316, "activity_lines": [ 41.339562, 41.404662, 41.077866, 41.406044 ] }, { "date": "2025-12-26", "close": 40.646843, "volume": 267557833, "typical_volume": 348124974.55, "trend": 41.786277, "fair_value": 33.438905, "relative_strength": -10.727304, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -36.323104, "energy": 19.509863, "activity_lines": [ 41.038691, 41.292655, 41.026854, 41.33268 ] }, { "date": "2026-01-02", "close": 41.036739, "volume": 207147637, "typical_volume": 340557246.3, "trend": 41.769177, "fair_value": 33.503417, "relative_strength": -9.851145, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -33.586585, "energy": 23.361945, "activity_lines": [ 40.952263, 41.249589, 41.026111, 41.284323 ] }, { "date": "2026-01-09", "close": 40.256943, "volume": 474630164, "typical_volume": 347184793.0, "trend": 41.703971, "fair_value": 33.566785, "relative_strength": -14.570656, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -44.85619, "energy": 29.020485, "activity_lines": [ 40.661138, 41.062083, 40.956672, 41.18676 ] }, { "date": "2026-01-16", "close": 38.720001, "volume": 700626535, "typical_volume": 359193332.0, "trend": 41.562306, "fair_value": 33.615536, "relative_strength": -17.141799, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -75.811404, "energy": 63.130013, "activity_lines": [ 39.997413, 40.587867, 40.749955, 40.994245 ] }, { "date": "2026-01-23", "close": 37.5, "volume": 708723486, "typical_volume": 369356647.85, "trend": 41.372812, "fair_value": 33.650471, "relative_strength": -20.079968, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -84.123192, "energy": 78.438171, "activity_lines": [ 39.058077, 39.941222, 40.441747, 40.732161 ] }, { "date": "2026-01-30", "close": 38.669998, "volume": 944169221, "typical_volume": 399632779.7, "trend": 41.195844, "fair_value": 33.686054, "relative_strength": -16.898807, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -64.902684, "energy": 73.778722, "activity_lines": [ 38.737375, 39.591989, 40.264872, 40.557786 ] }, { "date": "2026-02-06", "close": 39.599998, "volume": 527096102, "typical_volume": 406132635.35, "trend": 41.032933, "fair_value": 33.720159, "relative_strength": -13.564547, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -61.972428, "energy": 70.389012, "activity_lines": [ 38.858462, 39.470828, 40.189881, 40.454828 ] }, { "date": "2026-02-13", "close": 38.709999, "volume": 316662655, "typical_volume": 404022887.3, "trend": 40.859525, "fair_value": 33.757925, "relative_strength": -15.52398, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -63.610243, "energy": 63.378703, "activity_lines": [ 38.778665, 39.229037, 40.031863, 40.304961 ] }, { "date": "2026-02-27", "close": 38.75, "volume": 270900593, "typical_volume": 409890038.2, "trend": 40.694599, "fair_value": 33.802051, "relative_strength": -16.773255, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -60.453031, "energy": 41.839178, "activity_lines": [ 38.815332, 39.060748, 39.882702, 40.168863 ] }, { "date": "2026-03-06", "close": 39.200001, "volume": 447139503, "typical_volume": 422610166.75, "trend": 40.557994, "fair_value": 33.856824, "relative_strength": -14.675752, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -54.529186, "energy": 33.000803, "activity_lines": [ 39.0, 39.009475, 39.779442, 40.072437 ] }, { "date": "2026-03-13", "close": 39.759998, "volume": 336289898, "typical_volume": 410650438.25, "trend": 40.436482, "fair_value": 33.911171, "relative_strength": -12.49253, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -41.179005, "energy": 24.892003, "activity_lines": [ 39.257999, 39.091465, 39.72935, 40.020954 ] }, { "date": "2026-03-20", "close": 39.75, "volume": 323905476, "typical_volume": 409981972.85, "trend": 40.354601, "fair_value": 33.961225, "relative_strength": -9.093348, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -36.445692, "energy": 18.452393, "activity_lines": [ 39.44, 39.187762, 39.682018, 39.976665 ] }, { "date": "2026-03-27", "close": 39.439999, "volume": 331268818, "typical_volume": 404345251.75, "trend": 40.263686, "fair_value": 34.026529, "relative_strength": -8.431669, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -33.774315, "energy": 18.452823, "activity_lines": [ 39.508666, 39.25109, 39.610593, 39.917658 ] }, { "date": "2026-04-03", "close": 39.400002, "volume": 318979187, "typical_volume": 397999739.65, "trend": 40.18346, "fair_value": 34.095163, "relative_strength": -7.425172, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -31.055963, "energy": 16.613289, "activity_lines": [ 39.515334, 39.322, 39.537346, 39.861937 ] }, { "date": "2026-04-10", "close": 39.209999, "volume": 227692063, "typical_volume": 395528553.9, "trend": 40.101124, "fair_value": 34.162204, "relative_strength": -9.995022, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -34.483711, "energy": 15.63991, "activity_lines": [ 39.415333, 39.346, 39.455701, 39.799133 ] }, { "date": "2026-04-17", "close": 39.52, "volume": 328643029, "typical_volume": 396876076.9, "trend": 40.03627, "fair_value": 34.232089, "relative_strength": -10.392919, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -31.806432, "energy": 15.495376, "activity_lines": [ 39.418, 39.395273, 39.417616, 39.761641 ] }, { "date": "2026-04-24", "close": 39.380001, "volume": 284122384, "typical_volume": 396521583.1, "trend": 40.016786, "fair_value": 34.301772, "relative_strength": -10.934262, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -31.854272, "energy": 16.238137, "activity_lines": [ 39.39, 39.403636, 39.377598, 39.719301 ] }, { "date": "2026-05-01", "close": 38.27, "volume": 529816490, "typical_volume": 411243768.65, "trend": 39.9668, "fair_value": 34.363002, "relative_strength": -13.721799, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -60.661023, "energy": 36.464388, "activity_lines": [ 39.016667, 39.214182, 39.2437, 39.606605 ] }, { "date": "2026-05-08", "close": 37.939999, "volume": 309140002, "typical_volume": 408235814.2, "trend": 39.918486, "fair_value": 34.421528, "relative_strength": -15.471487, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -66.871646, "energy": 57.084088, "activity_lines": [ 38.611333, 38.972727, 39.097815, 39.475844 ] }, { "date": "2026-05-15", "close": 37.650002, "volume": 430069865, "typical_volume": 414229047.05, "trend": 39.867978, "fair_value": 34.483012, "relative_strength": -14.747751, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -72.328692, "energy": 71.591829, "activity_lines": [ 38.206667, 38.693273, 38.937386, 39.32949 ] }, { "date": "2026-05-22", "close": 37.02, "volume": 364359520, "typical_volume": 419069131.4, "trend": 39.750657, "fair_value": 34.534623, "relative_strength": -15.2148, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -78.620273, "energy": 81.640905, "activity_lines": [ 37.696, 38.327455, 38.732574, 39.145749 ] }, { "date": "2026-05-29", "close": 38.009998, "volume": 478919211, "typical_volume": 432657710.1, "trend": 39.654639, "fair_value": 34.596059, "relative_strength": -11.526268, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -62.35623, "energy": 72.605296, "activity_lines": [ 37.682, 38.191454, 38.639319, 39.033449 ] }, { "date": "2026-06-05", "close": 37.549488, "volume": 77870900, "typical_volume": 412819746.9, "trend": 39.577712, "fair_value": 34.655026, "relative_strength": -11.259706, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -65.028732, "energy": 70.589681, "activity_lines": [ 37.605829, 38.003361, 38.516618, 38.897633 ] }, { "date": "2026-06-12", "close": 38.289188, "volume": 111983390, "typical_volume": 383387589.65, "trend": 39.472806, "fair_value": 34.725211, "relative_strength": -9.134636, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -59.262553, "energy": 44.885571, "activity_lines": [ 37.824259, 37.984132, 38.477257, 38.814502 ] }, { "date": "2026-06-19", "close": 36.264744, "volume": 343098560, "typical_volume": 365106343.35, "trend": 39.276374, "fair_value": 34.780653, "relative_strength": -14.60854, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -80.293285, "energy": 52.661703, "activity_lines": [ 37.344595, 37.617019, 38.247144, 38.60753 ] }, { "date": "2026-06-26", "close": 35.038403, "volume": 105541023, "typical_volume": 323174933.45, "trend": 39.047187, "fair_value": 34.824647, "relative_strength": -15.561612, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -88.586561, "energy": 79.132883, "activity_lines": [ 36.548502, 37.080484, 37.906118, 38.334113 ] }, { "date": "2026-07-03", "close": 35.846233, "volume": 85312390, "typical_volume": 301085747.85, "trend": 38.846553, "fair_value": 34.872802, "relative_strength": -13.35886, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -71.716396, "energy": 79.211915, "activity_lines": [ 36.153792, 36.772312, 37.659322, 38.1276 ] }, { "date": "2026-07-10", "close": 36.880001, "volume": 395068309, "typical_volume": 305006030.55, "trend": 38.664131, "fair_value": 34.931652, "relative_strength": -9.214667, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -64.264664, "energy": 74.089913, "activity_lines": [ 36.247921, 36.716347, 37.528856, 38.000725 ] }, { "date": "2026-07-17", "close": 38.02, "volume": 481734822, "typical_volume": 315547742.0, "trend": 38.57527, "fair_value": 35.000005, "relative_strength": -0.153744, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -55.731056, "energy": 44.4069, "activity_lines": [ 36.766684, 36.892928, 37.515674, 37.959168 ] }, { "date": "2026-07-24", "close": 39.200001, "volume": 585618157, "typical_volume": 322471674.7, "trend": 38.517619, "fair_value": 35.07833, "relative_strength": 2.010726, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -10.635518, "energy": 13.610298, "activity_lines": [ 37.696725, 37.2826, 37.61835, 37.999474 ] }, { "date": "2026-07-31", "close": 39.619999, "volume": 578087454, "typical_volume": 334561552.5, "trend": 38.483391, "fair_value": 35.15194, "relative_strength": 2.975665, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "mixed", "direction": 22.533617, "energy": 31.704883, "activity_lines": [ 38.571082, 37.720453, 37.761026, 38.070595 ] }, { "date": "2026-08-07", "close": 38.799999, "volume": 491634871, "typical_volume": 342948022.25, "trend": 38.408833, "fair_value": 35.221028, "relative_strength": -1.477199, "stage": 4, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 17.737909, "energy": 32.267722, "activity_lines": [ 38.866666, 37.961943, 37.826273, 38.091021 ] } ], "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." } } }