{ "ticker": { "uuid": "21134aa4-096d-435e-8841-d35c30b2426a", "symbol": "603391", "name": "Zhejiang Liju Thermal Equipment 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": 61.354, "architecture_regime": "downward_expansion", "architecture_regime_label": "Downward Expansion", "architecture_modifier": "Early contraction", "architecture_gate": "down", "architecture_direction": -49.402, "architecture_energy": 34.068, "architecture_maturity": 30.198, "architecture_confidence": 75.727, "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": 23.66, "rotation_up": 23.78, "upward_expansion": 6.27, "deceleration": 53.68, "rotation_down": 46.92, "downward_expansion": 74.93 }, "activity_lines": [ 54.446668, 54.609092, 57.106497, 59.591064 ], "activity_state": "Moderate", "activity_direction": "Contracting", "rotation_direction": "Improving", "price_acceptance": -0.333333 }, "latest_close": 60.380001, "trend_reference": 62.390199, "distance_from_trend": -0.03222, "trend_direction": "Weakening", "fair_value": 48.142494, "distance_from_fair_value": 0.254193, "fair_value_direction": "Weakening", "relative_strength": 4.410434, "relative_strength_direction": "Weakening", "price_momentum": -0.113188, "excess_performance": -0.069984, "evidence": [ { "label": "Price vs Trend", "positive": false, "value": -0.03222, "read": "Below" }, { "label": "Trend direction", "positive": false, "value": -0.036225, "read": "Falling" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.254193, "read": "Premium" }, { "label": "Fair Value direction", "positive": false, "value": -0.108731, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": true, "value": 0.044104, "read": "Leading" }, { "label": "Relative strength direction", "positive": false, "value": -0.059195, "read": "Weakening" }, { "label": "Price momentum", "positive": false, "value": -0.113188, "read": "Negative" }, { "label": "Volume balance", "positive": false, "value": 0.773947, "read": "Supply-led" } ], "volume": { "latest": 10352046, "relative_activity": 1.900354, "balance": 0.773947, "dry_up": 1.532424, "accumulation_observations": 3, "distribution_observations": 3 }, "risk": { "range_context": 0.118192, "annualized_volatility": 0.511576, "from_high_reference": -0.220728, "from_low_reference": 0.567833 }, "levels": { "trend_reference": 62.390199, "fair_value_reference": 48.142494, "structural_low": 42.860001, "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": 1, "median_return": -0.048552, "positive_rate": 0.0, "directional_follow_through": 1.0, "median_excess_return": 0.031224, "regime_survival": 1.0, "best_return": -0.048552, "worst_return": -0.048552, "sufficient": false }, { "horizon": "Intermediate", "sample_count": 0, "median_return": null, "positive_rate": null, "directional_follow_through": null, "median_excess_return": null, "regime_survival": null, "best_return": null, "worst_return": null, "sufficient": false }, { "horizon": "Extended", "sample_count": 0, "median_return": null, "positive_rate": null, "directional_follow_through": null, "median_excess_return": null, "regime_survival": null, "best_return": null, "worst_return": null, "sufficient": false }, { "horizon": "Full cycle", "sample_count": 0, "median_return": null, "positive_rate": null, "directional_follow_through": null, "median_excess_return": null, "regime_survival": null, "best_return": null, "worst_return": null, "sufficient": false } ], "ledger": [ { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-02-06", "end": "2026-04-10", "tenure": "Developing", "return": -0.036667, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-04-17", "end": "2026-05-01", "tenure": "New", "return": -0.069992, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2026-05-08", "end": "2026-05-22", "tenure": "New", "return": 0.116024, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-05-29", "end": "2026-06-12", "tenure": "New", "return": -0.078143, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2026-06-19", "end": "2026-08-07", "tenure": "Developing", "return": 0.085776, "active": true } ], "chart_path": [ { "date": "2024-08-02", "close": 45.00383, "volume": 38083105, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-08-09", "close": 39.818844, "volume": 24806360, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-08-16", "close": 37.717319, "volume": 14885794, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-08-23", "close": 35.689209, "volume": 10833492, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-08-30", "close": 36.597733, "volume": 12818674, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-09-06", "close": 34.89082, "volume": 8446217, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-09-13", "close": 32.890236, "volume": 5870765, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-09-20", "close": 32.413033, "volume": 3027966, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-09-27", "close": 36.606903, "volume": 12089670, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-10-04", "close": 40.259335, "volume": 6918625, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-10-11", "close": 36.606525, "volume": 17379950, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-10-18", "close": 37.523338, "volume": 7986139, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-10-25", "close": 39.385326, "volume": 11192645, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-01", "close": 39.829559, "volume": 12337788, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-08", "close": 41.559227, "volume": 11601203, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-15", "close": 39.205746, "volume": 10771529, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-22", "close": 38.251122, "volume": 5495436, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-29", "close": 39.659431, "volume": 5656637, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-12-06", "close": 40.198177, "volume": 5107077, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-12-13", "close": 41.228416, "volume": 9502516, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-12-20", "close": 40.321049, "volume": 4551473, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-12-27", "close": 39.347523, "volume": 5367244, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-03", "close": 37.381561, "volume": 5855979, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-10", "close": 36.190647, "volume": 3705372, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-17", "close": 37.116913, "volume": 3156654, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-24", "close": 37.825798, "volume": 4218899, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-31", "close": 37.712376, "volume": 819238, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-02-07", "close": 37.769085, "volume": 2324357, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-02-14", "close": 37.362659, "volume": 4523484, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-02-21", "close": 37.25869, "volume": 3659742, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-02-28", "close": 36.682137, "volume": 4852833, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-03-07", "close": 37.466629, "volume": 5049300, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-03-14", "close": 39.045071, "volume": 8241571, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-03-21", "close": 39.801205, "volume": 6717939, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-03-28", "close": 39.631077, "volume": 4506936, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-04-04", "close": 41.701, "volume": 5598550, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-04-11", "close": 38.638645, "volume": 14331114, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-04-18", "close": 38.421257, "volume": 5577947, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-04-25", "close": 38.525223, "volume": 4545661, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-02", "close": 36.001614, "volume": 5373143, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-09", "close": 35.935452, "volume": 4415190, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-16", "close": 36.58762, "volume": 5491542, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-23", "close": 36.529018, "volume": 3745562, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-30", "close": 36.753662, "volume": 4115337, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-06-06", "close": 37.310387, "volume": 3019396, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-06-13", "close": 37.80851, "volume": 6024461, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-06-20", "close": 37.329922, "volume": 3853370, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-06-27", "close": 38.228497, "volume": 4016031, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-07-04", "close": 38.248028, "volume": 4999182, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-07-11", "close": 39.058701, "volume": 6014530, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-07-18", "close": 38.804756, "volume": 4083056, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-07-25", "close": 39.146606, "volume": 12712325, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-01", "close": 38.873123, "volume": 4272391, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-08", "close": 38.951263, "volume": 2929739, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-15", "close": 38.736385, "volume": 5139186, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-22", "close": 40.113548, "volume": 7446953, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-29", "close": 39.078232, "volume": 5660542, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-09-05", "close": 40.992592, "volume": 7593034, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-09-12", "close": 44.010632, "volume": 11115284, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-09-19", "close": 50.046707, "volume": 18195317, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-09-26", "close": 50.388557, "volume": 13539151, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-10-03", "close": 51.355503, "volume": 6966538, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-10-10", "close": 51.76572, "volume": 3255247, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-10-17", "close": 48.796516, "volume": 11769383, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-10-24", "close": 49.919735, "volume": 6583886, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-10-31", "close": 51.08202, "volume": 7842122, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-11-07", "close": 55.565128, "volume": 16322592, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-11-14", "close": 57.899467, "volume": 13330899, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-11-21", "close": 56.532074, "volume": 11926058, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-11-28", "close": 63.51556, "volume": 13093894, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-12-05", "close": 66.846153, "volume": 12041970, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-12-12", "close": 73.311974, "volume": 11699690, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-12-19", "close": 63.466728, "volume": 15800173, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-12-26", "close": 66.787544, "volume": 7150826, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-01-02", "close": 63.945316, "volume": 4285101, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-01-09", "close": 63.398361, "volume": 5374766, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-01-16", "close": 63.896477, "volume": 6066146, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-01-23", "close": 64.804817, "volume": 5166554, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-01-30", "close": 68.086571, "volume": 8263205, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-02-06", "close": 70.323242, "volume": 17558515, "typical_volume": 9901835.8, "trend": 53.681377, "fair_value": 43.922067, "relative_strength": 36.008617, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 67.75827, "energy": 48.155051, "activity_lines": [ 67.304551, 66.415684, 63.606209, 59.561538 ] }, { "date": "2026-02-13", "close": 69.27816, "volume": 17979593, "typical_volume": 10123857.9, "trend": 54.697157, "fair_value": 44.235106, "relative_strength": 32.28447, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 61.202882, "energy": 46.596668, "activity_lines": [ 68.363306, 66.923219, 64.481808, 60.567782 ] }, { "date": "2026-02-27", "close": 70.401382, "volume": 5763332, "typical_volume": 10063697.6, "trend": 55.738983, "fair_value": 44.554207, "relative_strength": 30.666986, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 63.484545, "energy": 48.900309, "activity_lines": [ 69.404482, 67.590758, 65.37443, 61.580958 ] }, { "date": "2026-03-06", "close": 71.143677, "volume": 6675973, "typical_volume": 10234733.9, "trend": 56.814668, "fair_value": 44.874562, "relative_strength": 32.065848, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 64.650329, "energy": 50.824615, "activity_lines": [ 70.25943, 68.446179, 66.247052, 62.574809 ] }, { "date": "2026-03-13", "close": 73.448715, "volume": 7642912, "typical_volume": 10028410.35, "trend": 57.964583, "fair_value": 45.21473, "relative_strength": 35.93584, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 70.066146, "energy": 51.236448, "activity_lines": [ 71.460133, 69.581118, 67.246925, 63.647974 ] }, { "date": "2026-03-20", "close": 66.04525, "volume": 8434800, "typical_volume": 10120956.05, "trend": 58.874879, "fair_value": 45.459795, "relative_strength": 25.544024, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 57.186299, "energy": 39.3695, "activity_lines": [ 69.835538, 69.248859, 67.424315, 64.169307 ] }, { "date": "2026-03-27", "close": 67.441948, "volume": 4455655, "typical_volume": 9951632.7, "trend": 59.785825, "fair_value": 45.715401, "relative_strength": 28.612984, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 44.507682, "energy": 31.014439, "activity_lines": [ 68.961708, 69.132365, 67.657936, 64.722021 ] }, { "date": "2026-04-03", "close": 66.221054, "volume": 5031889, "typical_volume": 9387097.55, "trend": 60.690586, "fair_value": 45.951099, "relative_strength": 26.428081, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 37.901823, "energy": 21.494002, "activity_lines": [ 67.803328, 68.72037, 67.697376, 65.137197 ] }, { "date": "2026-04-10", "close": 67.74472, "volume": 5942523, "typical_volume": 9017678.75, "trend": 61.582324, "fair_value": 46.198753, "relative_strength": 25.088701, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 32.055706, "energy": 19.346614, "activity_lines": [ 67.431525, 68.543141, 67.831186, 65.592303 ] }, { "date": "2026-04-17", "close": 63.632767, "volume": 5284175, "typical_volume": 8685584.6, "trend": 62.236395, "fair_value": 46.394641, "relative_strength": 14.990903, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 16.316132, "energy": 13.666082, "activity_lines": [ 65.915668, 67.564831, 67.526498, 65.724589 ] }, { "date": "2026-04-24", "close": 60.937042, "volume": 5312042, "typical_volume": 8296492.0, "trend": 62.599406, "fair_value": 46.556223, "relative_strength": 8.858841, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": -5.158275, "energy": 15.382486, "activity_lines": [ 64.155633, 66.177368, 66.931262, 65.64076 ] }, { "date": "2026-05-01", "close": 59.178963, "volume": 4074225, "typical_volume": 7898104.75, "trend": 62.892419, "fair_value": 46.694935, "relative_strength": 4.493486, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -28.131171, "energy": 29.364292, "activity_lines": [ 62.150119, 64.640911, 66.180868, 65.420086 ] }, { "date": "2026-05-08", "close": 63.896477, "volume": 4925120, "typical_volume": 7559376.25, "trend": 63.310452, "fair_value": 46.881908, "relative_strength": 10.3299, "stage": 3, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -17.110624, "energy": 27.472014, "activity_lines": [ 62.267974, 64.145807, 65.916272, 65.484864 ] }, { "date": "2026-05-15", "close": 61.38633, "volume": 5003399, "typical_volume": 7019537.55, "trend": 63.631139, "fair_value": 47.03787, "relative_strength": 6.532881, "stage": 2, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -20.498293, "energy": 37.038972, "activity_lines": [ 61.704087, 63.312583, 65.45745, 65.360727 ] }, { "date": "2026-05-22", "close": 71.309998, "volume": 10297763, "typical_volume": 7176884.4, "trend": 64.381588, "fair_value": 47.296084, "relative_strength": 23.32982, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 36.710146, "energy": 17.207238, "activity_lines": [ 64.871981, 64.461069, 65.953646, 65.856138 ] }, { "date": "2026-05-29", "close": 60.529999, "volume": 10451487, "typical_volume": 7485203.7, "trend": 64.735264, "fair_value": 47.435388, "relative_strength": 5.255246, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -19.121492, "energy": 9.475196, "activity_lines": [ 63.934726, 63.68844, 65.40164, 65.607648 ] }, { "date": "2026-06-05", "close": 56.02, "volume": 1018889, "typical_volume": 7267409.85, "trend": 64.899863, "fair_value": 47.524811, "relative_strength": -1.990179, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -39.449903, "energy": 23.359757, "activity_lines": [ 61.521275, 62.19609, 64.436374, 65.045373 ] }, { "date": "2026-06-12", "close": 55.799999, "volume": 898575, "typical_volume": 7009031.3, "trend": 64.907692, "fair_value": 47.610122, "relative_strength": -2.837825, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -64.796009, "energy": 44.144071, "activity_lines": [ 59.245088, 60.87141, 63.48529, 64.458285 ] }, { "date": "2026-06-19", "close": 55.610001, "volume": 3973587, "typical_volume": 6949382.95, "trend": 64.831377, "fair_value": 47.691754, "relative_strength": -4.872663, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -67.170031, "energy": 68.71134, "activity_lines": [ 57.445333, 59.70166, 62.554666, 63.858434 ] }, { "date": "2026-06-26", "close": 53.5, "volume": 1471677, "typical_volume": 6609806.55, "trend": 64.730307, "fair_value": 47.750423, "relative_strength": -7.31664, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -69.273746, "energy": 74.343463, "activity_lines": [ 55.327333, 58.368904, 61.466874, 63.127377 ] }, { "date": "2026-07-03", "close": 56.790001, "volume": 1320014, "typical_volume": 5797881.5, "trend": 64.506122, "fair_value": 47.840819, "relative_strength": -2.392712, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -61.904004, "energy": 66.877315, "activity_lines": [ 55.493334, 57.818562, 60.761875, 62.6151 ] }, { "date": "2026-07-10", "close": 57.060001, "volume": 6096500, "typical_volume": 5203726.85, "trend": 64.179917, "fair_value": 47.932098, "relative_strength": -1.194382, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -58.243371, "energy": 52.169302, "activity_lines": [ 55.998667, 57.392712, 60.147035, 62.134705 ] }, { "date": "2026-07-17", "close": 52.91, "volume": 9869329, "typical_volume": 5409026.7, "trend": 63.499851, "fair_value": 47.980901, "relative_strength": -3.111159, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -66.03033, "energy": 44.894381, "activity_lines": [ 55.051334, 56.250843, 59.195138, 61.407613 ] }, { "date": "2026-07-24", "close": 50.200001, "volume": 8984533, "typical_volume": 5524454.7, "trend": 63.057627, "fair_value": 48.002445, "relative_strength": -9.541495, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -68.641179, "energy": 45.246924, "activity_lines": [ 53.393334, 54.816, 58.068439, 60.549558 ] }, { "date": "2026-07-31", "close": 50.330002, "volume": 4185188, "typical_volume": 5351568.5, "trend": 62.509042, "fair_value": 48.024826, "relative_strength": -10.001189, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -65.729373, "energy": 47.29656, "activity_lines": [ 52.139334, 53.608183, 57.053852, 59.728421 ] }, { "date": "2026-08-07", "close": 60.380001, "volume": 10352046, "typical_volume": 5447430.8, "trend": 62.390199, "fair_value": 48.142494, "relative_strength": 4.410434, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -49.40186, "energy": 34.068409, "activity_lines": [ 54.446668, 54.609092, 57.106497, 59.591064 ] } ], "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." } } }