{ "ticker": { "uuid": "21986cf4-9326-4560-a12c-f04bcc586d27", "symbol": "PZA", "name": "Pizza Pizza Royalty Corp.", "exchange": "TOR", "country": "CA", "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": "^GSPTSE", "stage": 4, "stage_name": "Declining", "phase": "4b", "phase_label": "Stage 4B \u00b7 Declining", "transition": "stage_4_declining", "transition_label": "Stage 4 decline intact", "confidence": 96.0, "architecture_regime": "downward_expansion", "architecture_regime_label": "Downward Expansion", "architecture_modifier": "Established contraction", "architecture_gate": "down", "architecture_direction": -62.514, "architecture_energy": 59.521, "architecture_maturity": 44.713, "architecture_confidence": 96, "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": 20.42, "rotation_up": 27.83, "upward_expansion": 11.03, "deceleration": 50.47, "rotation_down": 50.58, "downward_expansion": 82.03 }, "activity_lines": [ 12.75742, 12.859997, 13.195085, 13.735096 ], "activity_state": "Wide", "activity_direction": "Contracting", "rotation_direction": "Improving", "price_acceptance": -0.5 }, "latest_close": 12.94, "trend_reference": 14.430434, "distance_from_trend": -0.103284, "trend_direction": "Weakening", "fair_value": 13.082108, "distance_from_fair_value": -0.010863, "fair_value_direction": "Weakening", "relative_strength": -21.897808, "relative_strength_direction": "Weakening", "price_momentum": -0.204013, "excess_performance": -0.324434, "evidence": [ { "label": "Price vs Trend", "positive": false, "value": -0.103284, "read": "Below" }, { "label": "Trend direction", "positive": false, "value": -0.041916, "read": "Falling" }, { "label": "Price vs current Fair Value", "positive": false, "value": -0.010863, "read": "Below anchor" }, { "label": "Fair Value direction", "positive": false, "value": -0.079716, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.218978, "read": "Lagging" }, { "label": "Relative strength direction", "positive": false, "value": -0.040547, "read": "Weakening" }, { "label": "Price momentum", "positive": false, "value": -0.204013, "read": "Negative" }, { "label": "Volume balance", "positive": false, "value": 0.460425, "read": "Supply-led" } ], "volume": { "latest": 345300, "relative_activity": 1.100488, "balance": 0.460425, "dry_up": 1.005275, "accumulation_observations": 2, "distribution_observations": 4 }, "risk": { "range_context": 0.037368, "annualized_volatility": 0.231167, "from_high_reference": -0.214383, "from_low_reference": 0.070122 }, "levels": { "trend_reference": 14.430434, "fair_value_reference": 13.082108, "structural_low": 12.092075, "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": 7, "median_return": 0.003654, "positive_rate": 0.571429, "directional_follow_through": 0.428571, "median_excess_return": 0.00938, "regime_survival": 0.571429, "best_return": 0.059988, "worst_return": -0.046079, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 3, "median_return": 0.043908, "positive_rate": 0.666667, "directional_follow_through": 0.333333, "median_excess_return": -0.02846, "regime_survival": 0.0, "best_return": 0.062458, "worst_return": -0.014912, "sufficient": false }, { "horizon": "Extended", "sample_count": 2, "median_return": 0.009612, "positive_rate": 0.5, "directional_follow_through": 0.5, "median_excess_return": -0.097898, "regime_survival": 0.0, "best_return": 0.027529, "worst_return": -0.008306, "sufficient": false }, { "horizon": "Full cycle", "sample_count": 1, "median_return": 0.018931, "positive_rate": 1.0, "directional_follow_through": 0.0, "median_excess_return": -0.20454, "regime_survival": 0.0, "best_return": 0.018931, "worst_return": 0.018931, "sufficient": false } ], "ledger": [ { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2024-05-17", "end": "2024-07-26", "tenure": "Developing", "return": 0.022477, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2024-08-02", "end": "2024-09-06", "tenure": "Developing", "return": -0.059918, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2024-09-13", "end": "2024-09-27", "tenure": "New", "return": 0.036467, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2024-10-04", "end": "2024-10-18", "tenure": "New", "return": 0.012743, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2024-10-25", "end": "2025-01-03", "tenure": "Developing", "return": -0.017569, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-01-10", "end": "2025-02-28", "tenure": "Developing", "return": 0.044994, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-03-07", "end": "2025-09-19", "tenure": "Extended", "return": 0.165719, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2025-09-26", "end": "2025-10-31", "tenure": "Developing", "return": 0.01604, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2025-11-07", "end": "2025-12-05", "tenure": "Developing", "return": 0.07609, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-12-12", "end": "2026-01-09", "tenure": "Developing", "return": 0.035837, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-01-16", "end": "2026-04-10", "tenure": "Established", "return": -0.012, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-04-17", "end": "2026-05-01", "tenure": "New", "return": -0.023228, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2026-05-08", "end": "2026-05-29", "tenure": "New", "return": -0.085393, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2026-06-05", "end": "2026-08-07", "tenure": "Developing", "return": 0.025809, "active": true } ], "chart_path": [ { "date": "2023-08-18", "close": 12.558858, "volume": 230700, "typical_volume": 146940.0, "trend": 11.746538, "fair_value": 9.237427, "relative_strength": 12.776645, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 62.392444, "energy": 47.669516, "activity_lines": [ 12.516998, 12.435249, 12.238713, 12.016925 ] }, { "date": "2023-08-25", "close": 12.243018, "volume": 134400, "typical_volume": 147590.0, "trend": 11.781463, "fair_value": 9.276392, "relative_strength": 9.540334, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 55.312419, "energy": 36.525123, "activity_lines": [ 12.426981, 12.412626, 12.261771, 12.048956 ] }, { "date": "2023-09-01", "close": 12.204706, "volume": 131300, "typical_volume": 147295.0, "trend": 11.808126, "fair_value": 9.31529, "relative_strength": 5.184857, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 42.484887, "energy": 29.320549, "activity_lines": [ 12.345501, 12.382753, 12.276131, 12.076262 ] }, { "date": "2023-09-08", "close": 11.845503, "volume": 177200, "typical_volume": 150575.0, "trend": 11.828994, "fair_value": 9.352106, "relative_strength": 4.209568, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 15.534829, "energy": 14.583472, "activity_lines": [ 12.168451, 12.287084, 12.251722, 12.078673 ] }, { "date": "2023-09-15", "close": 11.837149, "volume": 133000, "typical_volume": 150655.0, "trend": 11.85039, "fair_value": 9.389002, "relative_strength": 1.199444, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": -0.34614, "energy": 16.921414, "activity_lines": [ 12.015118, 12.197221, 12.22402, 12.079199 ] }, { "date": "2023-09-22", "close": 11.711846, "volume": 115300, "typical_volume": 151140.0, "trend": 11.869758, "fair_value": 9.42576, "relative_strength": 4.200455, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": -7.5084, "energy": 24.6777, "activity_lines": [ 11.873118, 12.092052, 12.18225, 12.070261 ] }, { "date": "2023-09-29", "close": 11.608555, "volume": 175900, "typical_volume": 144555.0, "trend": 11.877312, "fair_value": 9.462169, "relative_strength": 4.355824, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -30.203624, "energy": 38.85769, "activity_lines": [ 11.753155, 11.977106, 12.12926, 12.053409 ] }, { "date": "2023-10-06", "close": 11.306159, "volume": 122000, "typical_volume": 137000.0, "trend": 11.878837, "fair_value": 9.49606, "relative_strength": 3.013353, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -39.15117, "energy": 56.978073, "activity_lines": [ 11.57469, 11.824526, 12.048217, 12.016561 ] }, { "date": "2023-10-13", "close": 11.154963, "volume": 100000, "typical_volume": 137180.0, "trend": 11.878023, "fair_value": 9.528981, "relative_strength": 0.376102, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -50.700276, "energy": 66.401201, "activity_lines": [ 11.40573, 11.667383, 11.955508, 11.969859 ] }, { "date": "2023-10-20", "close": 10.995366, "volume": 142700, "typical_volume": 137290.0, "trend": 11.871348, "fair_value": 9.561102, "relative_strength": 0.575665, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -51.750084, "energy": 71.04739, "activity_lines": [ 11.229608, 11.501006, 11.85152, 11.912913 ] }, { "date": "2023-10-27", "close": 11.146564, "volume": 111100, "typical_volume": 138445.0, "trend": 11.869066, "fair_value": 9.595218, "relative_strength": 3.747445, "stage": 3, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -67.258946, "energy": 75.276397, "activity_lines": [ 11.160003, 11.391906, 11.766818, 11.866153 ] }, { "date": "2023-11-03", "close": 11.699882, "volume": 124600, "typical_volume": 136915.0, "trend": 11.886314, "fair_value": 9.632657, "relative_strength": 2.673584, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -61.822879, "energy": 51.23005, "activity_lines": [ 11.312523, 11.409088, 11.73953, 11.855238 ] }, { "date": "2023-11-10", "close": 11.750565, "volume": 146800, "typical_volume": 137695.0, "trend": 11.903079, "fair_value": 9.668087, "relative_strength": 3.716809, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -46.322934, "energy": 32.05231, "activity_lines": [ 11.475849, 11.44536, 11.71958, 11.84648 ] }, { "date": "2023-11-17", "close": 12.164496, "volume": 133400, "typical_volume": 138250.0, "trend": 11.931198, "fair_value": 9.705228, "relative_strength": 4.333801, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -17.37069, "energy": 18.504368, "activity_lines": [ 11.747525, 11.565149, 11.741087, 11.863346 ] }, { "date": "2023-11-24", "close": 12.23207, "volume": 116500, "typical_volume": 141135.0, "trend": 11.959307, "fair_value": 9.741658, "relative_strength": 5.000828, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "mixed", "direction": 12.200163, "energy": 26.126251, "activity_lines": [ 11.974424, 11.691425, 11.769429, 11.882757 ] }, { "date": "2023-12-01", "close": 12.180246, "volume": 98400, "typical_volume": 137665.0, "trend": 11.984596, "fair_value": 9.778434, "relative_strength": 2.535747, "stage": 3, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 19.63319, "energy": 30.643921, "activity_lines": [ 12.101601, 11.801097, 11.792914, 11.897011 ] }, { "date": "2023-12-08", "close": 12.17175, "volume": 115400, "typical_volume": 133555.0, "trend": 11.998139, "fair_value": 9.814929, "relative_strength": 2.895177, "stage": 3, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 21.425631, "energy": 32.739979, "activity_lines": [ 12.157033, 11.900709, 11.815716, 11.909085 ] }, { "date": "2023-12-15", "close": 12.214222, "volume": 100200, "typical_volume": 133975.0, "trend": 12.009277, "fair_value": 9.851786, "relative_strength": 2.151915, "stage": 3, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 23.539354, "energy": 39.613908, "activity_lines": [ 12.195166, 11.997803, 11.844425, 11.923026 ] }, { "date": "2023-12-22", "close": 12.324641, "volume": 139200, "typical_volume": 135590.0, "trend": 12.020821, "fair_value": 9.889578, "relative_strength": 1.22702, "stage": 3, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 28.692397, "energy": 39.669969, "activity_lines": [ 12.239194, 12.098462, 11.885331, 11.943372 ] }, { "date": "2023-12-29", "close": 12.569802, "volume": 66700, "typical_volume": 130740.0, "trend": 12.039093, "fair_value": 9.928379, "relative_strength": 2.740162, "stage": 3, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 38.667194, "energy": 49.754356, "activity_lines": [ 12.354266, 12.22243, 11.949197, 11.97879 ] }, { "date": "2024-01-05", "close": 12.578343, "volume": 99400, "typical_volume": 124175.0, "trend": 12.05381, "fair_value": 9.96728, "relative_strength": 2.774627, "stage": 2, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 45.33517, "energy": 56.421992, "activity_lines": [ 12.449669, 12.319324, 12.01418, 12.013581 ] }, { "date": "2024-01-12", "close": 12.791821, "volume": 86000, "typical_volume": 121755.0, "trend": 12.072625, "fair_value": 10.006914, "relative_strength": 4.04235, "stage": 2, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 52.359013, "energy": 69.148025, "activity_lines": [ 12.589692, 12.429001, 12.099402, 12.061194 ] }, { "date": "2024-01-19", "close": 12.680814, "volume": 122500, "typical_volume": 121315.0, "trend": 12.089386, "fair_value": 10.045064, "relative_strength": 3.328496, "stage": 2, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "up", "direction": 68.383488, "energy": 75.513157, "activity_lines": [ 12.651375, 12.49864, 12.171438, 12.100432 ] }, { "date": "2024-01-26", "close": 12.578343, "volume": 134900, "typical_volume": 119200.0, "trend": 12.100385, "fair_value": 10.082544, "relative_strength": 1.249663, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 63.84052, "energy": 67.529853, "activity_lines": [ 12.647795, 12.532735, 12.231448, 12.131978 ] }, { "date": "2024-02-02", "close": 12.430638, "volume": 85500, "typical_volume": 116825.0, "trend": 12.106461, "fair_value": 10.118848, "relative_strength": 0.120078, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 60.527016, "energy": 51.374941, "activity_lines": [ 12.578066, 12.53245, 12.273902, 12.153285 ] }, { "date": "2024-02-09", "close": 12.387716, "volume": 81400, "typical_volume": 115130.0, "trend": 12.112484, "fair_value": 10.153554, "relative_strength": -0.015027, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 45.651904, "energy": 32.835822, "activity_lines": [ 12.503307, 12.520751, 12.309441, 12.17143 ] }, { "date": "2024-02-16", "close": 12.301868, "volume": 78400, "typical_volume": 110255.0, "trend": 12.103792, "fair_value": 10.188348, "relative_strength": -1.962751, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 38.974468, "energy": 22.421778, "activity_lines": [ 12.412641, 12.489671, 12.333586, 12.183648 ] }, { "date": "2024-02-23", "close": 12.233191, "volume": 113100, "typical_volume": 109810.0, "trend": 12.092659, "fair_value": 10.221673, "relative_strength": -3.293059, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 32.079847, "energy": 23.927077, "activity_lines": [ 12.331746, 12.443738, 12.347888, 12.191997 ] }, { "date": "2024-03-01", "close": 12.403161, "volume": 93400, "typical_volume": 109480.0, "trend": 12.097997, "fair_value": 10.255491, "relative_strength": -2.653898, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 29.885098, "energy": 21.231133, "activity_lines": [ 12.33735, 12.428364, 12.373964, 12.212029 ] }, { "date": "2024-03-08", "close": 12.152851, "volume": 111000, "typical_volume": 107895.0, "trend": 12.08197, "fair_value": 10.28449, "relative_strength": -5.398779, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 10.021721, "energy": 14.717143, "activity_lines": [ 12.271195, 12.366052, 12.370257, 12.215568 ] }, { "date": "2024-03-15", "close": 11.850758, "volume": 137300, "typical_volume": 109205.0, "trend": 12.058367, "fair_value": 10.311966, "relative_strength": -8.119605, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -12.435753, "energy": 21.508284, "activity_lines": [ 12.122862, 12.256394, 12.332267, 12.200651 ] }, { "date": "2024-03-22", "close": 11.954331, "volume": 177000, "typical_volume": 111825.0, "trend": 12.048744, "fair_value": 10.340427, "relative_strength": -7.794254, "stage": 3, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -24.203695, "energy": 28.682203, "activity_lines": [ 12.04485, 12.178797, 12.300788, 12.193939 ] }, { "date": "2024-03-29", "close": 11.99575, "volume": 86200, "typical_volume": 108795.0, "trend": 12.041779, "fair_value": 10.36959, "relative_strength": -8.187879, "stage": 3, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -22.131092, "energy": 38.37515, "activity_lines": [ 12.003814, 12.123957, 12.272043, 12.19052 ] }, { "date": "2024-04-05", "close": 11.648555, "volume": 180600, "typical_volume": 111155.0, "trend": 12.035214, "fair_value": 10.396482, "relative_strength": -11.146863, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -41.4523, "energy": 60.004087, "activity_lines": [ 11.862876, 12.018447, 12.209063, 12.165151 ] }, { "date": "2024-04-12", "close": 11.483631, "volume": 160900, "typical_volume": 113375.0, "trend": 12.02343, "fair_value": 10.421715, "relative_strength": -10.882837, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -44.771422, "energy": 63.13049, "activity_lines": [ 11.71727, 11.899856, 12.132833, 12.129565 ] }, { "date": "2024-04-19", "close": 11.553074, "volume": 123600, "typical_volume": 114635.0, "trend": 12.018138, "fair_value": 10.446841, "relative_strength": -9.912277, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -45.915665, "energy": 67.097152, "activity_lines": [ 11.639426, 11.811109, 12.066781, 12.099219 ] }, { "date": "2024-04-26", "close": 11.726672, "volume": 120300, "typical_volume": 114880.0, "trend": 12.022075, "fair_value": 10.471949, "relative_strength": -9.178299, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -37.991272, "energy": 63.809675, "activity_lines": [ 11.639294, 11.769101, 12.020249, 12.080415 ] }, { "date": "2024-05-03", "close": 11.602702, "volume": 127200, "typical_volume": 116230.0, "trend": 12.03196, "fair_value": 10.495428, "relative_strength": -9.968604, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -38.330877, "energy": 60.317644, "activity_lines": [ 11.613016, 11.715011, 11.964029, 12.053359 ] }, { "date": "2024-05-10", "close": 11.855883, "volume": 160700, "typical_volume": 117305.0, "trend": 12.055324, "fair_value": 10.522525, "relative_strength": -9.361957, "stage": 3, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -59.312307, "energy": 43.984782, "activity_lines": [ 11.697335, 11.718418, 11.934834, 12.041999 ] }, { "date": "2024-05-17", "close": 11.690003, "volume": 162900, "typical_volume": 122115.0, "trend": 12.078478, "fair_value": 10.548234, "relative_strength": -11.067755, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -48.562876, "energy": 34.836974, "activity_lines": [ 11.712538, 11.701614, 11.892072, 12.01843 ] }, { "date": "2024-05-24", "close": 11.593969, "volume": 158700, "typical_volume": 125080.0, "trend": 12.093392, "fair_value": 10.573163, "relative_strength": -10.98777, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -54.275604, "energy": 36.92442, "activity_lines": [ 11.681972, 11.675766, 11.844355, 11.987171 ] }, { "date": "2024-05-31", "close": 11.697701, "volume": 189000, "typical_volume": 130230.0, "trend": 12.093319, "fair_value": 10.598478, "relative_strength": -9.759256, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -44.067072, "energy": 30.046719, "activity_lines": [ 11.683257, 11.673446, 11.811204, 11.961643 ] }, { "date": "2024-06-07", "close": 11.653794, "volume": 134500, "typical_volume": 130830.0, "trend": 12.090093, "fair_value": 10.622951, "relative_strength": -8.784414, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -47.580961, "energy": 33.903562, "activity_lines": [ 11.671838, 11.66781, 11.779081, 11.933286 ] }, { "date": "2024-06-14", "close": 11.574757, "volume": 168800, "typical_volume": 132525.0, "trend": 12.070435, "fair_value": 10.64729, "relative_strength": -7.626461, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -61.098926, "energy": 40.641098, "activity_lines": [ 11.630667, 11.654021, 11.744322, 11.900039 ] }, { "date": "2024-06-21", "close": 11.328857, "volume": 265800, "typical_volume": 141540.0, "trend": 12.040328, "fair_value": 10.668748, "relative_strength": -8.928548, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -75.119068, "energy": 53.22164, "activity_lines": [ 11.526271, 11.596864, 11.690923, 11.852195 ] }, { "date": "2024-06-28", "close": 11.564049, "volume": 141600, "typical_volume": 144550.0, "trend": 12.019788, "fair_value": 10.692017, "relative_strength": -8.159542, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -56.797725, "energy": 41.195699, "activity_lines": [ 11.524349, 11.585284, 11.665169, 11.821467 ] }, { "date": "2024-07-05", "close": 11.458036, "volume": 102600, "typical_volume": 145760.0, "trend": 11.995998, "fair_value": 10.713949, "relative_strength": -9.460138, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -59.857559, "energy": 45.609452, "activity_lines": [ 11.489084, 11.554229, 11.633241, 11.785225 ] }, { "date": "2024-07-12", "close": 11.617053, "volume": 152200, "typical_volume": 147715.0, "trend": 11.976092, "fair_value": 10.737464, "relative_strength": -10.420958, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -54.863798, "energy": 37.586018, "activity_lines": [ 11.522802, 11.55697, 11.620476, 11.760777 ] }, { "date": "2024-07-19", "close": 11.528711, "volume": 150100, "typical_volume": 150550.0, "trend": 11.949561, "fair_value": 10.758397, "relative_strength": -10.858751, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -51.787303, "energy": 30.711739, "activity_lines": [ 11.529522, 11.543388, 11.602232, 11.731914 ] }, { "date": "2024-07-26", "close": 11.952757, "volume": 219900, "typical_volume": 155995.0, "trend": 11.928993, "fair_value": 10.781042, "relative_strength": -7.80848, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -15.302144, "energy": 10.186161, "activity_lines": [ 11.680661, 11.612855, 11.628536, 11.73212 ] }, { "date": "2024-08-02", "close": 11.782254, "volume": 156300, "typical_volume": 156945.0, "trend": 11.902457, "fair_value": 10.804761, "relative_strength": -6.485678, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -10.7607, "energy": 12.763617, "activity_lines": [ 11.733372, 11.646543, 11.639556, 11.722653 ] }, { "date": "2024-08-09", "close": 11.471262, "volume": 438400, "typical_volume": 170015.0, "trend": 11.858438, "fair_value": 10.825875, "relative_strength": -8.97152, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -37.614274, "energy": 18.189979, "activity_lines": [ 11.667871, 11.620264, 11.621283, 11.694834 ] }, { "date": "2024-08-16", "close": 11.515687, "volume": 294100, "typical_volume": 180410.0, "trend": 11.8196, "fair_value": 10.847131, "relative_strength": -11.159256, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -35.268942, "energy": 16.26287, "activity_lines": [ 11.616298, 11.606179, 11.609541, 11.672721 ] }, { "date": "2024-08-23", "close": 11.5068, "volume": 343200, "typical_volume": 188540.0, "trend": 11.783882, "fair_value": 10.867295, "relative_strength": -11.738819, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -48.289976, "energy": 24.636626, "activity_lines": [ 11.56852, 11.59299, 11.599239, 11.652541 ] }, { "date": "2024-08-30", "close": 11.371299, "volume": 337300, "typical_volume": 197360.0, "trend": 11.748571, "fair_value": 10.886779, "relative_strength": -12.681883, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -56.354261, "energy": 41.975273, "activity_lines": [ 11.477036, 11.556399, 11.576707, 11.625922 ] }, { "date": "2024-09-06", "close": 11.076287, "volume": 395800, "typical_volume": 210970.0, "trend": 11.704857, "fair_value": 10.904373, "relative_strength": -12.525339, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -71.957853, "energy": 62.657783, "activity_lines": [ 11.325978, 11.465398, 11.526614, 11.582549 ] }, { "date": "2024-09-13", "close": 11.469634, "volume": 496500, "typical_volume": 229780.0, "trend": 11.677116, "fair_value": 10.924298, "relative_strength": -12.179286, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -55.077292, "energy": 51.119965, "activity_lines": [ 11.3531, 11.454784, 11.516253, 11.567373 ] }, { "date": "2024-09-20", "close": 11.67525, "volume": 350700, "typical_volume": 240955.0, "trend": 11.658518, "fair_value": 10.944831, "relative_strength": -11.407233, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -40.677544, "energy": 28.861965, "activity_lines": [ 11.44887, 11.481343, 11.526698, 11.567253 ] }, { "date": "2024-09-27", "close": 11.887897, "volume": 286700, "typical_volume": 247255.0, "trend": 11.641342, "fair_value": 10.967396, "relative_strength": -9.823019, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -10.248179, "energy": 6.241719, "activity_lines": [ 11.604884, 11.545507, 11.55705, 11.582052 ] }, { "date": "2024-10-04", "close": 11.995808, "volume": 238600, "typical_volume": 251040.0, "trend": 11.636107, "fair_value": 10.99032, "relative_strength": -9.492415, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 27.26481, "energy": 27.690778, "activity_lines": [ 11.771462, 11.622761, 11.597527, 11.604921 ] }, { "date": "2024-10-11", "close": 12.15767, "volume": 230200, "typical_volume": 254615.0, "trend": 11.646338, "fair_value": 11.013473, "relative_strength": -9.184179, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 44.34961, "energy": 53.593276, "activity_lines": [ 11.95036, 11.728661, 11.651963, 11.63857 ] }, { "date": "2024-10-18", "close": 12.148674, "volume": 241600, "typical_volume": 257245.0, "trend": 11.652816, "fair_value": 11.035901, "relative_strength": -10.265104, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 68.951234, "energy": 72.187615, "activity_lines": [ 12.054168, 11.8261, 11.702858, 11.670979 ] }, { "date": "2024-10-25", "close": 12.148674, "volume": 152300, "typical_volume": 258135.0, "trend": 11.657913, "fair_value": 11.057608, "relative_strength": -8.632367, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 67.309575, "energy": 73.731543, "activity_lines": [ 12.112706, 11.911223, 11.751605, 11.702969 ] }, { "date": "2024-11-01", "close": 11.921374, "volume": 263200, "typical_volume": 262855.0, "trend": 11.667007, "fair_value": 11.077091, "relative_strength": -9.254348, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 61.455136, "energy": 63.925021, "activity_lines": [ 12.063916, 11.943509, 11.776348, 11.719967 ] }, { "date": "2024-11-08", "close": 11.758562, "volume": 323500, "typical_volume": 265740.0, "trend": 11.676172, "fair_value": 11.095579, "relative_strength": -11.931949, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 55.289102, "energy": 35.697249, "activity_lines": [ 11.958623, 11.938655, 11.783935, 11.725874 ] }, { "date": "2024-11-15", "close": 12.011822, "volume": 183400, "typical_volume": 267830.0, "trend": 11.691463, "fair_value": 11.115356, "relative_strength": -10.123963, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 46.500652, "energy": 27.744086, "activity_lines": [ 11.953567, 11.972808, 11.813595, 11.747528 ] }, { "date": "2024-11-22", "close": 12.075138, "volume": 177400, "typical_volume": 271570.0, "trend": 11.703079, "fair_value": 11.136113, "relative_strength": -11.190101, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 47.690944, "energy": 25.691914, "activity_lines": [ 11.979339, 12.001463, 11.847154, 11.772282 ] }, { "date": "2024-11-29", "close": 12.073318, "volume": 205600, "typical_volume": 274240.0, "trend": 11.718766, "fair_value": 11.157723, "relative_strength": -11.511305, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 46.888024, "energy": 26.859107, "activity_lines": [ 12.009407, 12.018778, 11.8776, 11.796168 ] }, { "date": "2024-12-06", "close": 12.100613, "volume": 154500, "typical_volume": 274460.0, "trend": 11.726924, "fair_value": 11.177537, "relative_strength": -11.05192, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 58.263613, "energy": 36.733587, "activity_lines": [ 12.053597, 12.033817, 11.908473, 11.820803 ] }, { "date": "2024-12-13", "close": 11.973237, "volume": 214500, "typical_volume": 274190.0, "trend": 11.736365, "fair_value": 11.197496, "relative_strength": -10.138715, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 53.432479, "energy": 33.238541, "activity_lines": [ 12.043379, 12.02183, 11.924492, 11.836695 ] }, { "date": "2024-12-20", "close": 11.882257, "volume": 267700, "typical_volume": 279760.0, "trend": 11.745974, "fair_value": 11.215622, "relative_strength": -8.01554, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 39.918067, "energy": 22.154947, "activity_lines": [ 11.988523, 11.993712, 11.931749, 11.846107 ] }, { "date": "2024-12-27", "close": 11.964138, "volume": 125900, "typical_volume": 264135.0, "trend": 11.754856, "fair_value": 11.234223, "relative_strength": -7.720871, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 36.196666, "energy": 18.006986, "activity_lines": [ 11.969598, 11.985489, 11.946327, 11.860182 ] }, { "date": "2025-01-03", "close": 11.935233, "volume": 225900, "typical_volume": 260725.0, "trend": 11.764237, "fair_value": 11.251769, "relative_strength": -8.541558, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 31.81853, "energy": 16.015841, "activity_lines": [ 11.948438, 11.975365, 11.955806, 11.871819 ] }, { "date": "2025-01-10", "close": 11.761332, "volume": 261500, "typical_volume": 256640.0, "trend": 11.770456, "fair_value": 11.268828, "relative_strength": -8.305511, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 6.457547, "energy": 9.593475, "activity_lines": [ 11.878517, 11.937504, 11.946725, 11.871632 ] }, { "date": "2025-01-17", "close": 11.651497, "volume": 215500, "typical_volume": 250550.0, "trend": 11.781211, "fair_value": 11.287068, "relative_strength": -9.774724, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": -3.463402, "energy": 12.902134, "activity_lines": [ 11.794603, 11.882582, 11.925971, 11.863957 ] }, { "date": "2025-01-24", "close": 11.999304, "volume": 273800, "typical_volume": 244450.0, "trend": 11.795719, "fair_value": 11.307195, "relative_strength": -8.1167, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 16.975367, "energy": 13.578969, "activity_lines": [ 11.848074, 11.892845, 11.937008, 11.878028 ] }, { "date": "2025-01-31", "close": 11.969351, "volume": 324500, "typical_volume": 235850.0, "trend": 11.812763, "fair_value": 11.326692, "relative_strength": -8.161985, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 17.141295, "energy": 11.337064, "activity_lines": [ 11.883757, 11.897889, 11.940796, 11.88923 ] }, { "date": "2025-02-07", "close": 12.006181, "volume": 231700, "typical_volume": 229900.0, "trend": 11.825734, "fair_value": 11.345357, "relative_strength": -7.140926, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 33.694809, "energy": 14.485759, "activity_lines": [ 11.93137, 11.911554, 11.945713, 11.901708 ] }, { "date": "2025-02-14", "close": 12.107459, "volume": 178700, "typical_volume": 224500.0, "trend": 11.845026, "fair_value": 11.361999, "relative_strength": -6.137556, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 44.199316, "energy": 27.049941, "activity_lines": [ 12.008012, 11.944853, 11.958699, 11.919884 ] }, { "date": "2025-02-21", "close": 12.116663, "volume": 170700, "typical_volume": 221105.0, "trend": 11.850489, "fair_value": 11.378284, "relative_strength": -4.485744, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 54.338271, "energy": 38.486913, "activity_lines": [ 12.064647, 11.979701, 11.971516, 11.937409 ] }, { "date": "2025-02-28", "close": 12.290517, "volume": 245500, "typical_volume": 221870.0, "trend": 11.867431, "fair_value": 11.393778, "relative_strength": -3.71997, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 67.863166, "energy": 56.646249, "activity_lines": [ 12.148222, 12.043551, 12.000315, 11.965798 ] }, { "date": "2025-03-07", "close": 12.836967, "volume": 396100, "typical_volume": 229595.0, "trend": 11.912955, "fair_value": 11.409503, "relative_strength": 3.299059, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 86.750087, "energy": 77.57752, "activity_lines": [ 12.394533, 12.199332, 12.080525, 12.028349 ] }, { "date": "2025-03-14", "close": 12.392395, "volume": 330700, "typical_volume": 238515.0, "trend": 11.942178, "fair_value": 11.421597, "relative_strength": 0.701173, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 61.328698, "energy": 66.651158, "activity_lines": [ 12.434812, 12.258413, 12.115116, 12.05928 ] }, { "date": "2025-03-21", "close": 12.531322, "volume": 155600, "typical_volume": 233135.0, "trend": 11.976329, "fair_value": 11.434045, "relative_strength": 0.298378, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 65.061674, "energy": 69.621655, "activity_lines": [ 12.495653, 12.334442, 12.161779, 12.097289 ] }, { "date": "2025-03-28", "close": 12.76287, "volume": 169400, "typical_volume": 225430.0, "trend": 12.022715, "fair_value": 11.446046, "relative_strength": 3.116922, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 74.045898, "energy": 74.597041, "activity_lines": [ 12.605418, 12.43857, 12.227589, 12.148034 ] }, { "date": "2025-04-04", "close": 12.1183, "volume": 463300, "typical_volume": 239425.0, "trend": 12.057449, "fair_value": 11.454946, "relative_strength": 4.521438, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 51.524591, "energy": 34.270006, "activity_lines": [ 12.457247, 12.405296, 12.227229, 12.154201 ] }, { "date": "2025-04-11", "close": 12.500198, "volume": 356200, "typical_volume": 248365.0, "trend": 12.091801, "fair_value": 11.465755, "relative_strength": 5.990331, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 54.374825, "energy": 31.874848, "activity_lines": [ 12.447856, 12.439296, 12.262733, 12.182765 ] }, { "date": "2025-04-18", "close": 12.835526, "volume": 166600, "typical_volume": 246415.0, "trend": 12.130477, "fair_value": 11.480381, "relative_strength": 6.1088, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 66.322026, "energy": 38.792414, "activity_lines": [ 12.572692, 12.524612, 12.328149, 12.230748 ] }, { "date": "2025-04-25", "close": 13.245366, "volume": 257900, "typical_volume": 251585.0, "trend": 12.175726, "fair_value": 11.498582, "relative_strength": 7.193594, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 77.850725, "energy": 49.108277, "activity_lines": [ 12.8046, 12.669365, 12.428968, 12.302676 ] }, { "date": "2025-05-02", "close": 13.477177, "volume": 371500, "typical_volume": 259435.0, "trend": 12.225104, "fair_value": 11.520339, "relative_strength": 7.630575, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 81.339691, "energy": 79.075844, "activity_lines": [ 13.066175, 12.835577, 12.546413, 12.386641 ] }, { "date": "2025-05-09", "close": 13.598929, "volume": 315800, "typical_volume": 261840.0, "trend": 12.273146, "fair_value": 11.54692, "relative_strength": 7.185892, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 78.118495, "energy": 84.889425, "activity_lines": [ 13.320713, 12.999189, 12.668291, 12.475274 ] }, { "date": "2025-05-16", "close": 13.898631, "volume": 212000, "typical_volume": 266145.0, "trend": 12.331478, "fair_value": 11.57414, "relative_strength": 6.896708, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 82.969497, "energy": 89.835934, "activity_lines": [ 13.576444, 13.193503, 12.810538, 12.580144 ] }, { "date": "2025-05-23", "close": 13.692585, "volume": 151200, "typical_volume": 262410.0, "trend": 12.382942, "fair_value": 11.597969, "relative_strength": 5.646744, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 68.962787, "energy": 82.69282, "activity_lines": [ 13.670264, 13.331051, 12.92395, 12.667958 ] }, { "date": "2025-05-30", "close": 13.82123, "volume": 118100, "typical_volume": 255240.0, "trend": 12.446271, "fair_value": 11.622449, "relative_strength": 5.425964, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 70.717223, "energy": 77.285077, "activity_lines": [ 13.749828, 13.468349, 13.041246, 12.76075 ] }, { "date": "2025-06-06", "close": 13.943625, "volume": 85400, "typical_volume": 248735.0, "trend": 12.519106, "fair_value": 11.647565, "relative_strength": 5.345332, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 72.839673, "energy": 71.24944, "activity_lines": [ 13.831799, 13.604448, 13.160389, 12.857354 ] }, { "date": "2025-06-13", "close": 14.028359, "volume": 119700, "typical_volume": 241030.0, "trend": 12.586324, "fair_value": 11.680309, "relative_strength": 5.707188, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 73.215662, "energy": 64.559759, "activity_lines": [ 13.910919, 13.734484, 13.276687, 12.954725 ] }, { "date": "2025-06-20", "close": 14.066019, "volume": 94300, "typical_volume": 229520.0, "trend": 12.652687, "fair_value": 11.709034, "relative_strength": 5.996757, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 72.098121, "energy": 67.726198, "activity_lines": [ 13.973963, 13.83664, 13.386909, 13.050189 ] }, { "date": "2025-06-27", "close": 14.103679, "volume": 142800, "typical_volume": 225075.0, "trend": 12.720365, "fair_value": 11.738908, "relative_strength": 5.506293, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 70.352053, "energy": 66.353114, "activity_lines": [ 14.038402, 13.917174, 13.490734, 13.143802 ] }, { "date": "2025-07-04", "close": 14.319466, "volume": 85400, "typical_volume": 220410.0, "trend": 12.794327, "fair_value": 11.769069, "relative_strength": 5.660231, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 77.428116, "energy": 77.509516, "activity_lines": [ 14.147363, 14.013884, 13.605122, 13.24697 ] }, { "date": "2025-07-11", "close": 14.575001, "volume": 135700, "typical_volume": 218660.0, "trend": 12.881053, "fair_value": 11.80052, "relative_strength": 7.544204, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 83.580534, "energy": 85.660811, "activity_lines": [ 14.308287, 14.137526, 13.733314, 13.361852 ] }, { "date": "2025-07-18", "close": 14.660181, "volume": 115100, "typical_volume": 212140.0, "trend": 12.97365, "fair_value": 11.830523, "relative_strength": 6.904048, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 81.200745, "energy": 88.041006, "activity_lines": [ 14.455512, 14.256695, 13.857911, 13.476634 ] }, { "date": "2025-07-25", "close": 15.142858, "volume": 166300, "typical_volume": 200650.0, "trend": 13.079607, "fair_value": 11.860034, "relative_strength": 9.586529, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 90.884886, "energy": 94.844553, "activity_lines": [ 14.721509, 14.444327, 14.017194, 13.616583 ] }, { "date": "2025-08-01", "close": 15.006721, "volume": 204100, "typical_volume": 194320.0, "trend": 13.18199, "fair_value": 11.889674, "relative_strength": 10.399518, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 77.598143, "energy": 89.017905, "activity_lines": [ 14.870337, 14.584586, 14.15253, 13.740913 ] }, { "date": "2025-08-08", "close": 15.425159, "volume": 152300, "typical_volume": 194155.0, "trend": 13.304118, "fair_value": 11.91839, "relative_strength": 10.284524, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 87.661184, "energy": 93.157482, "activity_lines": [ 15.098441, 14.77703, 14.315269, 13.885634 ] }, { "date": "2025-08-15", "close": 15.444179, "volume": 148000, "typical_volume": 193085.0, "trend": 13.430541, "fair_value": 11.948981, "relative_strength": 9.613927, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 80.891604, "energy": 90.062072, "activity_lines": [ 15.259173, 14.943771, 14.466039, 14.023702 ] }, { "date": "2025-08-22", "close": 15.539277, "volume": 151900, "typical_volume": 177515.0, "trend": 13.54854, "fair_value": 11.980281, "relative_strength": 8.400219, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 79.044193, "energy": 87.182661, "activity_lines": [ 15.393659, 15.100519, 14.613098, 14.15975 ] }, { "date": "2025-08-29", "close": 15.289192, "volume": 165600, "typical_volume": 167985.0, "trend": 13.659201, "fair_value": 12.013207, "relative_strength": 5.598263, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 68.017712, "energy": 75.060975, "activity_lines": [ 15.386176, 15.184326, 14.720049, 14.27205 ] }, { "date": "2025-09-05", "close": 15.212746, "volume": 114300, "typical_volume": 165370.0, "trend": 13.766087, "fair_value": 12.045693, "relative_strength": 3.165504, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 65.976171, "energy": 65.578222, "activity_lines": [ 15.343456, 15.231994, 14.806438, 14.372278 ] }, { "date": "2025-09-12", "close": 15.145857, "volume": 148300, "typical_volume": 159890.0, "trend": 13.867366, "fair_value": 12.07765, "relative_strength": 1.776105, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 62.786763, "energy": 61.028014, "activity_lines": [ 15.264705, 15.247335, 14.875137, 14.461296 ] }, { "date": "2025-09-19", "close": 14.964297, "volume": 192900, "typical_volume": 150960.0, "trend": 13.962288, "fair_value": 12.109852, "relative_strength": -1.131462, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 47.618833, "energy": 43.590893, "activity_lines": [ 15.144054, 15.214641, 14.917494, 14.532066 ] }, { "date": "2025-09-26", "close": 14.734959, "volume": 205000, "typical_volume": 145420.0, "trend": 14.043769, "fair_value": 12.14034, "relative_strength": -2.61935, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 39.785298, "energy": 28.132845, "activity_lines": [ 14.978949, 15.13317, 14.930929, 14.581915 ] }, { "date": "2025-10-03", "close": 14.925125, "volume": 179100, "typical_volume": 143775.0, "trend": 14.113374, "fair_value": 12.172299, "relative_strength": -3.637894, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 34.2298, "energy": 25.160515, "activity_lines": [ 14.930854, 15.084916, 14.957064, 14.638777 ] }, { "date": "2025-10-10", "close": 14.752246, "volume": 125900, "typical_volume": 142510.0, "trend": 14.192036, "fair_value": 12.20396, "relative_strength": -2.763637, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 28.763383, "energy": 25.169426, "activity_lines": [ 14.849404, 15.009188, 14.961847, 14.679995 ] }, { "date": "2025-10-17", "close": 15.174838, "volume": 137500, "typical_volume": 143480.0, "trend": 14.280153, "fair_value": 12.237469, "relative_strength": -0.888657, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 41.806862, "energy": 23.023954, "activity_lines": [ 14.939518, 15.014921, 15.001831, 14.743401 ] }, { "date": "2025-10-24", "close": 15.290089, "volume": 92500, "typical_volume": 143835.0, "trend": 14.364394, "fair_value": 12.270864, "relative_strength": -0.967413, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 52.804368, "energy": 31.669314, "activity_lines": [ 15.066116, 15.046161, 15.046345, 14.808558 ] }, { "date": "2025-10-31", "close": 14.971313, "volume": 156200, "typical_volume": 145660.0, "trend": 14.459494, "fair_value": 12.302316, "relative_strength": -2.747945, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 37.944255, "energy": 26.439154, "activity_lines": [ 15.064737, 15.022243, 15.054088, 14.847714 ] }, { "date": "2025-11-07", "close": 13.822641, "volume": 347200, "typical_volume": 158305.0, "trend": 14.503576, "fair_value": 12.324828, "relative_strength": -9.119475, "stage": 3, "regime": "rotation_down", "modifier": "Structural failure", "gate": "up", "direction": -15.811244, "energy": 15.871168, "activity_lines": [ 14.66471, 14.799802, 14.947943, 14.806627 ] }, { "date": "2025-11-14", "close": 14.063961, "volume": 179600, "typical_volume": 160145.0, "trend": 14.544524, "fair_value": 12.347412, "relative_strength": -8.731078, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -32.890398, "energy": 44.744611, "activity_lines": [ 14.418622, 14.647902, 14.865941, 14.778265 ] }, { "date": "2025-11-21", "close": 14.31493, "volume": 156100, "typical_volume": 163680.0, "trend": 14.580176, "fair_value": 12.370586, "relative_strength": -6.591898, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -19.541839, "energy": 48.32114, "activity_lines": [ 14.302075, 14.562519, 14.808029, 14.763452 ] }, { "date": "2025-11-28", "close": 14.602721, "volume": 98300, "typical_volume": 161810.0, "trend": 14.617694, "fair_value": 12.394944, "relative_strength": -8.405807, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -20.501802, "energy": 46.229814, "activity_lines": [ 14.338787, 14.54457, 14.777547, 14.764907 ] }, { "date": "2025-12-05", "close": 14.874399, "volume": 90700, "typical_volume": 160590.0, "trend": 14.660209, "fair_value": 12.420532, "relative_strength": -6.503338, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -17.30295, "energy": 19.093314, "activity_lines": [ 14.511882, 14.582592, 14.772807, 14.781468 ] }, { "date": "2025-12-12", "close": 15.184888, "volume": 108700, "typical_volume": 157710.0, "trend": 14.703085, "fair_value": 12.447701, "relative_strength": -5.233986, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 15.933535, "energy": 13.448709, "activity_lines": [ 14.794935, 14.67453, 14.796618, 14.815319 ] }, { "date": "2025-12-19", "close": 14.98113, "volume": 102400, "typical_volume": 152625.0, "trend": 14.746036, "fair_value": 12.474076, "relative_strength": -7.138459, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 11.335433, "energy": 18.911677, "activity_lines": [ 14.919251, 14.724699, 14.800823, 14.833257 ] }, { "date": "2025-12-26", "close": 15.107266, "volume": 76900, "typical_volume": 148855.0, "trend": 14.788904, "fair_value": 12.500797, "relative_strength": -7.034068, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 36.885393, "energy": 31.39649, "activity_lines": [ 15.024469, 14.79364, 14.817163, 14.856562 ] }, { "date": "2026-01-02", "close": 15.192739, "volume": 73900, "typical_volume": 145150.0, "trend": 14.830541, "fair_value": 12.527039, "relative_strength": -6.168544, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 49.65722, "energy": 36.881852, "activity_lines": [ 15.105355, 14.87935, 14.843157, 14.882616 ] }, { "date": "2026-01-09", "close": 15.729069, "volume": 168600, "typical_volume": 145985.0, "trend": 14.887232, "fair_value": 12.556513, "relative_strength": -5.055803, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 67.780735, "energy": 62.39052, "activity_lines": [ 15.325683, 15.064344, 14.921427, 14.940586 ] }, { "date": "2026-01-16", "close": 15.816831, "volume": 154600, "typical_volume": 145435.0, "trend": 14.945592, "fair_value": 12.586858, "relative_strength": -5.811539, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 77.275685, "energy": 72.709106, "activity_lines": [ 15.518287, 15.251518, 15.007152, 15.00056 ] }, { "date": "2026-01-23", "close": 15.699815, "volume": 148200, "typical_volume": 147130.0, "trend": 14.998796, "fair_value": 12.615734, "relative_strength": -6.811752, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 68.501636, "energy": 72.563352, "activity_lines": [ 15.629757, 15.381159, 15.07922, 15.049219 ] }, { "date": "2026-01-30", "close": 15.37463, "volume": 209700, "typical_volume": 150200.0, "trend": 15.033969, "fair_value": 12.641181, "relative_strength": -5.296062, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 62.456129, "energy": 65.066427, "activity_lines": [ 15.584919, 15.421932, 15.117998, 15.073467 ] }, { "date": "2026-02-06", "close": 16.25654, "volume": 337000, "typical_volume": 157405.0, "trend": 15.09002, "fair_value": 12.67347, "relative_strength": -1.659087, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 85.201373, "energy": 81.482378, "activity_lines": [ 15.816226, 15.603784, 15.239679, 15.152342 ] }, { "date": "2026-02-13", "close": 15.903776, "volume": 153900, "typical_volume": 154850.0, "trend": 15.131473, "fair_value": 12.703653, "relative_strength": -5.566726, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 66.715483, "energy": 70.331511, "activity_lines": [ 15.859026, 15.691429, 15.321609, 15.204843 ] }, { "date": "2026-02-20", "close": 16.011566, "volume": 90600, "typical_volume": 150425.0, "trend": 15.16043, "fair_value": 12.73494, "relative_strength": -6.988408, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 68.989592, "energy": 69.133233, "activity_lines": [ 15.926109, 15.779956, 15.40824, 15.261623 ] }, { "date": "2026-02-27", "close": 16.471121, "volume": 180000, "typical_volume": 153130.0, "trend": 15.209243, "fair_value": 12.767563, "relative_strength": -5.759175, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 83.13402, "energy": 85.487602, "activity_lines": [ 16.133394, 15.937008, 15.533464, 15.346184 ] }, { "date": "2026-03-06", "close": 15.831179, "volume": 246000, "typical_volume": 158555.0, "trend": 15.222777, "fair_value": 12.796863, "relative_strength": -5.83887, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 62.20367, "energy": 54.070696, "activity_lines": [ 16.075945, 15.950616, 15.589556, 15.386308 ] }, { "date": "2026-03-13", "close": 15.525977, "volume": 197200, "typical_volume": 163790.0, "trend": 15.225504, "fair_value": 12.824725, "relative_strength": -6.018495, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 48.90597, "energy": 37.944018, "activity_lines": [ 15.886325, 15.89557, 15.613455, 15.40587 ] }, { "date": "2026-03-20", "close": 15.457059, "volume": 227400, "typical_volume": 167350.0, "trend": 15.222763, "fair_value": 12.852042, "relative_strength": -2.746667, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 41.147807, "energy": 25.698769, "activity_lines": [ 15.722437, 15.821935, 15.629668, 15.420809 ] }, { "date": "2026-03-27", "close": 14.89588, "volume": 475500, "typical_volume": 173765.0, "trend": 15.209653, "fair_value": 12.875637, "relative_strength": -7.991672, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 4.405598, "energy": 17.562218, "activity_lines": [ 15.40127, 15.651214, 15.590122, 15.399719 ] }, { "date": "2026-04-03", "close": 15.142094, "volume": 235100, "typical_volume": 176540.0, "trend": 15.207298, "fair_value": 12.90102, "relative_strength": -9.488685, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 2.535171, "energy": 20.933791, "activity_lines": [ 15.236553, 15.542003, 15.568915, 15.395361 ] }, { "date": "2026-04-10", "close": 15.627036, "volume": 175800, "typical_volume": 177525.0, "trend": 15.223337, "fair_value": 12.929093, "relative_strength": -7.987149, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 10.278229, "energy": 19.250012, "activity_lines": [ 15.322086, 15.531103, 15.588758, 15.422441 ] }, { "date": "2026-04-17", "close": 15.864559, "volume": 181300, "typical_volume": 181675.0, "trend": 15.253346, "fair_value": 12.958219, "relative_strength": -8.117087, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 24.435603, "energy": 16.722611, "activity_lines": [ 15.500403, 15.558801, 15.624975, 15.46381 ] }, { "date": "2026-04-24", "close": 15.70621, "volume": 148500, "typical_volume": 184565.0, "trend": 15.285721, "fair_value": 12.985894, "relative_strength": -7.590524, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 33.191193, "energy": 17.148218, "activity_lines": [ 15.603364, 15.564835, 15.640101, 15.493027 ] }, { "date": "2026-05-01", "close": 15.496062, "volume": 274900, "typical_volume": 192875.0, "trend": 15.304752, "fair_value": 13.012013, "relative_strength": -8.507326, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 30.214724, "energy": 19.505536, "activity_lines": [ 15.619666, 15.536252, 15.631253, 15.506597 ] }, { "date": "2026-05-08", "close": 13.922707, "volume": 1070000, "typical_volume": 241255.0, "trend": 15.277101, "fair_value": 13.025842, "relative_strength": -17.843126, "stage": 3, "regime": "rotation_down", "modifier": "Structural failure", "gate": "mixed", "direction": -37.707876, "energy": 32.275234, "activity_lines": [ 15.071504, 15.230977, 15.47108, 15.417433 ] }, { "date": "2026-05-15", "close": 13.675324, "volume": 438900, "typical_volume": 259355.0, "trend": 15.227117, "fair_value": 13.03735, "relative_strength": -18.306302, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -53.062755, "energy": 67.528407, "activity_lines": [ 14.522174, 14.927058, 15.292386, 15.314093 ] }, { "date": "2026-05-22", "close": 12.567049, "volume": 1124900, "typical_volume": 311905.0, "trend": 15.136349, "fair_value": 13.041123, "relative_strength": -25.842185, "stage": 4, "regime": "rotation_down", "modifier": "Structural failure", "gate": "mixed", "direction": -61.505907, "energy": 81.35969, "activity_lines": [ 13.733533, 14.460833, 15.014962, 15.142475 ] }, { "date": "2026-05-29", "close": 12.733809, "volume": 395600, "typical_volume": 323255.0, "trend": 15.061766, "fair_value": 13.045689, "relative_strength": -25.027024, "stage": 4, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -81.407935, "energy": 92.850174, "activity_lines": [ 13.220313, 14.078726, 14.765922, 14.987473 ] }, { "date": "2026-06-05", "close": 12.61443, "volume": 88200, "typical_volume": 319935.0, "trend": 15.021492, "fair_value": 13.04875, "relative_strength": -24.483719, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -78.106138, "energy": 91.826136, "activity_lines": [ 12.865459, 13.724427, 14.519776, 14.82958 ] }, { "date": "2026-06-12", "close": 12.972569, "volume": 115400, "typical_volume": 318295.0, "trend": 14.985112, "fair_value": 13.053527, "relative_strength": -23.023565, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -68.134695, "energy": 88.025645, "activity_lines": [ 12.822094, 13.476725, 14.322989, 14.697392 ] }, { "date": "2026-06-19", "close": 13.151638, "volume": 24300, "typical_volume": 309025.0, "trend": 14.946336, "fair_value": 13.059768, "relative_strength": -21.546175, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -66.050219, "energy": 82.924739, "activity_lines": [ 12.901762, 13.301027, 14.156242, 14.579103 ] }, { "date": "2026-06-26", "close": 13.05181, "volume": 34200, "typical_volume": 293885.0, "trend": 14.894639, "fair_value": 13.064919, "relative_strength": -21.678585, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -63.957714, "energy": 64.74737, "activity_lines": [ 12.983065, 13.152186, 13.990573, 14.456875 ] }, { "date": "2026-07-03", "close": 13.21912, "volume": 41100, "typical_volume": 288245.0, "trend": 14.839463, "fair_value": 13.071141, "relative_strength": -20.782703, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -51.503934, "energy": 54.339289, "activity_lines": [ 13.087821, 13.084906, 13.8561, 14.348777 ] }, { "date": "2026-07-10", "close": 13.109707, "volume": 190000, "typical_volume": 293215.0, "trend": 14.77029, "fair_value": 13.076928, "relative_strength": -21.028441, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -48.702535, "energy": 50.00447, "activity_lines": [ 13.123753, 13.042953, 13.72399, 14.23718 ] }, { "date": "2026-07-17", "close": 12.682, "volume": 350700, "typical_volume": 301750.0, "trend": 14.693652, "fair_value": 13.077693, "relative_strength": -22.957183, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -60.601662, "energy": 54.031804, "activity_lines": [ 12.984096, 12.966622, 13.564964, 14.102452 ] }, { "date": "2026-07-24", "close": 12.582533, "volume": 316400, "typical_volume": 305270.0, "trend": 14.609495, "fair_value": 13.077792, "relative_strength": -23.171562, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -69.657615, "energy": 57.706433, "activity_lines": [ 12.830656, 12.894766, 13.414509, 13.966251 ] }, { "date": "2026-07-31", "close": 12.61, "volume": 249300, "typical_volume": 307875.0, "trend": 14.523403, "fair_value": 13.080144, "relative_strength": -22.052211, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -66.810845, "energy": 58.970158, "activity_lines": [ 12.724311, 12.847772, 13.28214, 13.837251 ] }, { "date": "2026-08-07", "close": 12.94, "volume": 345300, "typical_volume": 313770.0, "trend": 14.430434, "fair_value": 13.082108, "relative_strength": -21.897808, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -62.514251, "energy": 59.520764, "activity_lines": [ 12.75742, 12.859997, 13.195085, 13.735096 ] } ], "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." } } }