{ "ticker": { "uuid": "22353a76-2f23-4c94-a175-b46f72ad0986", "symbol": "TW", "name": "Tradeweb Markets Inc", "exchange": "NASDAQ", "country": "US", "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": "QQQ", "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": "Early contraction", "architecture_gate": "down", "architecture_direction": -38.413, "architecture_energy": 24.368, "architecture_maturity": 46.475, "architecture_confidence": 77.091, "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": 46.77, "rotation_up": 25.72, "upward_expansion": 14.81, "deceleration": 45.08, "rotation_down": 29.15, "downward_expansion": 60.15 }, "activity_lines": [ 100.816667, 100.131091, 102.598787, 106.259941 ], "activity_state": "Moderate", "activity_direction": "Contracting", "rotation_direction": "Improving", "price_acceptance": -0.166667 }, "latest_close": 102.62, "trend_reference": 109.381001, "distance_from_trend": -0.061811, "trend_direction": "Weakening", "fair_value": 113.098741, "distance_from_fair_value": -0.092651, "fair_value_direction": "Weakening", "relative_strength": -19.033467, "relative_strength_direction": "Improving", "price_momentum": -0.08249, "excess_performance": -0.269944, "evidence": [ { "label": "Price vs Trend", "positive": false, "value": -0.061811, "read": "Below" }, { "label": "Trend direction", "positive": false, "value": -0.020256, "read": "Falling" }, { "label": "Price vs current Fair Value", "positive": false, "value": -0.092651, "read": "Below anchor" }, { "label": "Fair Value direction", "positive": false, "value": -0.074722, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.190335, "read": "Lagging" }, { "label": "Relative strength direction", "positive": true, "value": 0.061474, "read": "Improving" }, { "label": "Price momentum", "positive": false, "value": -0.08249, "read": "Negative" }, { "label": "Volume balance", "positive": true, "value": 1.062499, "read": "Demand-led" } ], "volume": { "latest": 7995665, "relative_activity": 1.002155, "balance": 1.062499, "dry_up": 1.11095, "accumulation_observations": 4, "distribution_observations": 4 }, "risk": { "range_context": 0.075505, "annualized_volatility": 0.276371, "from_high_reference": -0.247153, "from_low_reference": 0.122511 }, "levels": { "trend_reference": 109.381001, "fair_value_reference": 113.098741, "structural_low": 91.42, "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": 16, "median_return": -0.005798, "positive_rate": 0.4375, "directional_follow_through": 0.5625, "median_excess_return": -0.003359, "regime_survival": 0.8125, "best_return": 0.195838, "worst_return": -0.153234, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 5, "median_return": -0.043438, "positive_rate": 0.2, "directional_follow_through": 0.8, "median_excess_return": -0.032139, "regime_survival": 0.6, "best_return": 0.162281, "worst_return": -0.24967, "sufficient": true }, { "horizon": "Extended", "sample_count": 3, "median_return": 0.05751, "positive_rate": 0.666667, "directional_follow_through": 0.333333, "median_excess_return": 0.04301, "regime_survival": 0.333333, "best_return": 0.182961, "worst_return": -0.282263, "sufficient": false }, { "horizon": "Full cycle", "sample_count": 1, "median_return": -0.150945, "positive_rate": 0.0, "directional_follow_through": 1.0, "median_excess_return": -0.026085, "regime_survival": 0.0, "best_return": -0.150945, "worst_return": -0.150945, "sufficient": false } ], "ledger": [ { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2024-06-21", "end": "2024-08-09", "tenure": "Developing", "return": 0.091563, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2024-08-16", "end": "2025-01-24", "tenure": "Established", "return": 0.131014, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-01-31", "end": "2025-03-21", "tenure": "Developing", "return": 0.123205, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-03-28", "end": "2025-04-18", "tenure": "New", "return": -0.084418, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-04-25", "end": "2025-05-09", "tenure": "New", "return": 0.089955, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-05-16", "end": "2025-07-04", "tenure": "Developing", "return": -0.041845, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-07-11", "end": "2025-08-15", "tenure": "Developing", "return": -0.04314, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2025-08-22", "end": "2025-09-05", "tenure": "New", "return": -0.068643, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-09-12", "end": "2026-02-20", "tenure": "Established", "return": 0.014283, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2026-02-27", "end": "2026-03-20", "tenure": "New", "return": 0.01653, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-03-27", "end": "2026-04-17", "tenure": "New", "return": 0.015184, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2026-04-24", "end": "2026-05-22", "tenure": "Developing", "return": -0.062583, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2026-05-29", "end": "2026-06-26", "tenure": "Developing", "return": -0.065829, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2026-07-03", "end": "2026-08-07", "tenure": "Developing", "return": -0.001654, "active": true } ], "chart_path": [ { "date": "2023-08-18", "close": 82.316026, "volume": 4118798, "typical_volume": 4079933.85, "trend": 72.35226, "fair_value": 72.706366, "relative_strength": 5.188151, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 74.268861, "energy": 86.794786, "activity_lines": [ 81.078007, 76.880341, 73.659754, 72.956299 ] }, { "date": "2023-08-25", "close": 84.302521, "volume": 3897625, "typical_volume": 4037686.3, "trend": 72.665823, "fair_value": 72.889955, "relative_strength": 5.941393, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 78.30039, "energy": 88.453537, "activity_lines": [ 82.505121, 78.760818, 74.817, 73.727284 ] }, { "date": "2023-09-01", "close": 85.08284, "volume": 4638427, "typical_volume": 4063853.1, "trend": 73.137156, "fair_value": 73.102515, "relative_strength": 3.070183, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 77.472085, "energy": 88.002565, "activity_lines": [ 83.498551, 80.522439, 75.997122, 74.528381 ] }, { "date": "2023-09-08", "close": 85.300494, "volume": 3577722, "typical_volume": 3981272.75, "trend": 73.55923, "fair_value": 73.31647, "relative_strength": 4.636855, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 74.057714, "energy": 84.901179, "activity_lines": [ 84.339228, 82.023375, 77.124631, 75.313113 ] }, { "date": "2023-09-15", "close": 82.381955, "volume": 4440225, "typical_volume": 3884093.85, "trend": 73.920819, "fair_value": 73.508775, "relative_strength": 1.524741, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 66.082703, "energy": 62.807484, "activity_lines": [ 83.952089, 82.673281, 77.90784, 75.882321 ] }, { "date": "2023-09-22", "close": 80.917739, "volume": 3990169, "typical_volume": 3873523.95, "trend": 74.283544, "fair_value": 73.68212, "relative_strength": 3.059595, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 62.349532, "energy": 52.506237, "activity_lines": [ 82.965747, 82.737892, 78.490226, 76.333735 ] }, { "date": "2023-09-29", "close": 79.344695, "volume": 4088361, "typical_volume": 3955937.7, "trend": 74.47704, "fair_value": 73.824356, "relative_strength": 0.846471, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 47.258612, "energy": 37.331133, "activity_lines": [ 81.548275, 82.28981, 78.875116, 76.660261 ] }, { "date": "2023-10-06", "close": 82.797476, "volume": 5116470, "typical_volume": 4023825.65, "trend": 74.986642, "fair_value": 73.987349, "relative_strength": 3.169617, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 46.471552, "energy": 30.702233, "activity_lines": [ 81.612252, 82.370433, 79.553163, 77.197063 ] }, { "date": "2023-10-13", "close": 82.283021, "volume": 3502928, "typical_volume": 4055426.3, "trend": 75.231036, "fair_value": 74.148233, "relative_strength": 2.165598, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 41.654982, "energy": 27.569882, "activity_lines": [ 81.657102, 82.337625, 80.116417, 77.667798 ] }, { "date": "2023-10-20", "close": 80.522004, "volume": 4051515, "typical_volume": 3944073.6, "trend": 75.465091, "fair_value": 74.285938, "relative_strength": 2.701117, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 39.073827, "energy": 25.458415, "activity_lines": [ 81.316111, 81.969958, 80.444566, 78.00915 ] }, { "date": "2023-10-27", "close": 86.774604, "volume": 6364165, "typical_volume": 4082388.25, "trend": 75.757874, "fair_value": 74.50127, "relative_strength": 13.111565, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 75.283868, "energy": 49.478775, "activity_lines": [ 83.183316, 82.742635, 81.315891, 78.738796 ] }, { "date": "2023-11-03", "close": 90.969386, "volume": 4683744, "typical_volume": 4101167.8, "trend": 76.340174, "fair_value": 74.698437, "relative_strength": 10.989164, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 84.5564, "energy": 77.349328, "activity_lines": [ 86.058325, 84.196936, 82.506755, 79.720184 ] }, { "date": "2023-11-10", "close": 92.255522, "volume": 2520284, "typical_volume": 4063185.35, "trend": 77.092667, "fair_value": 74.912734, "relative_strength": 8.999967, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 85.536087, "energy": 90.862014, "activity_lines": [ 88.587066, 85.763863, 83.720074, 80.746981 ] }, { "date": "2023-11-17", "close": 92.423709, "volume": 3940890, "typical_volume": 4094368.8, "trend": 77.794508, "fair_value": 75.134242, "relative_strength": 6.666186, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 78.149694, "energy": 91.112835, "activity_lines": [ 90.541334, 87.230957, 84.836616, 81.73608 ] }, { "date": "2023-11-24", "close": 94.343019, "volume": 1573860, "typical_volume": 4039887.35, "trend": 78.622834, "fair_value": 75.364737, "relative_strength": 7.530486, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 80.077648, "energy": 92.163491, "activity_lines": [ 92.459325, 88.917504, 86.018119, 82.803726 ] }, { "date": "2023-12-01", "close": 93.866199, "volume": 5408268, "typical_volume": 4154801.35, "trend": 79.388221, "fair_value": 75.583464, "relative_strength": 6.636213, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 72.860417, "energy": 88.532963, "activity_lines": [ 93.296975, 90.299883, 87.013685, 83.787169 ] }, { "date": "2023-12-08", "close": 89.469471, "volume": 5726423, "typical_volume": 4231172.1, "trend": 79.975466, "fair_value": 75.750573, "relative_strength": 1.054763, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 66.051744, "energy": 61.672786, "activity_lines": [ 92.196277, 90.64743, 87.469487, 84.437572 ] }, { "date": "2023-12-15", "close": 87.380034, "volume": 11717927, "typical_volume": 4569105.3, "trend": 80.588801, "fair_value": 75.882294, "relative_strength": -4.414141, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 60.527374, "energy": 47.905473, "activity_lines": [ 90.499093, 90.430992, 87.652134, 84.915286 ] }, { "date": "2023-12-22", "close": 90.321089, "volume": 4109062, "typical_volume": 4536200.75, "trend": 81.328464, "fair_value": 76.064072, "relative_strength": -1.982433, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 45.972401, "energy": 34.680545, "activity_lines": [ 90.107294, 90.665972, 88.087849, 85.543176 ] }, { "date": "2023-12-29", "close": 89.994305, "volume": 1939713, "typical_volume": 4470328.8, "trend": 82.010367, "fair_value": 76.249646, "relative_strength": -2.475036, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 40.414952, "energy": 25.122949, "activity_lines": [ 89.746742, 90.695391, 88.450322, 86.102262 ] }, { "date": "2024-01-05", "close": 92.093644, "volume": 6191028, "typical_volume": 4573940.3, "trend": 82.747423, "fair_value": 76.430568, "relative_strength": 3.137528, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 47.727766, "energy": 29.358051, "activity_lines": [ 90.375883, 90.934283, 88.968544, 86.752796 ] }, { "date": "2024-01-12", "close": 94.975284, "volume": 6494671, "typical_volume": 4703792.6, "trend": 83.581193, "fair_value": 76.634474, "relative_strength": 3.223731, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 69.007192, "energy": 44.861654, "activity_lines": [ 92.083742, 91.600401, 89.714649, 87.541691 ] }, { "date": "2024-01-19", "close": 96.995403, "volume": 3967026, "typical_volume": 4670222.55, "trend": 84.52875, "fair_value": 76.85321, "relative_strength": 2.716485, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 72.940106, "energy": 52.408515, "activity_lines": [ 94.097919, 92.560978, 90.602323, 88.407124 ] }, { "date": "2024-01-26", "close": 96.876572, "volume": 3399606, "typical_volume": 4661316.75, "trend": 85.501995, "fair_value": 77.093302, "relative_strength": 2.181559, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 71.259658, "energy": 72.253733, "activity_lines": [ 95.431461, 93.41377, 91.421953, 89.203757 ] }, { "date": "2024-02-02", "close": 95.886318, "volume": 5773958, "typical_volume": 4728003.4, "trend": 86.537109, "fair_value": 77.300667, "relative_strength": -0.004593, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 62.287911, "energy": 68.046571, "activity_lines": [ 95.997887, 94.005555, 92.09215, 89.873714 ] }, { "date": "2024-02-09", "close": 101.392132, "volume": 5818481, "typical_volume": 4819419.0, "trend": 87.635178, "fair_value": 77.52271, "relative_strength": 3.899737, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 79.449048, "energy": 75.781426, "activity_lines": [ 98.006783, 95.570337, 93.222403, 90.832102 ] }, { "date": "2024-02-16", "close": 100.520708, "volume": 4062931, "typical_volume": 4818147.5, "trend": 88.522679, "fair_value": 77.732839, "relative_strength": 4.608423, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 70.660949, "energy": 66.757461, "activity_lines": [ 99.105305, 96.839843, 94.172166, 91.663427 ] }, { "date": "2024-02-23", "close": 104.065818, "volume": 4173670, "typical_volume": 4771007.5, "trend": 89.268097, "fair_value": 77.943323, "relative_strength": 6.788976, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 78.658313, "energy": 68.447518, "activity_lines": [ 101.015835, 98.552983, 95.358721, 92.66621 ] }, { "date": "2024-03-01", "close": 103.886627, "volume": 4359176, "typical_volume": 4813819.9, "trend": 90.015119, "fair_value": 78.158053, "relative_strength": 4.61849, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 72.416314, "energy": 73.058103, "activity_lines": [ 102.395274, 99.930164, 96.426932, 93.609341 ] }, { "date": "2024-03-08", "close": 101.973631, "volume": 3879998, "typical_volume": 4805244.05, "trend": 90.723742, "fair_value": 78.346532, "relative_strength": 4.263183, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 63.452519, "energy": 63.321123, "activity_lines": [ 102.669711, 100.712883, 97.210078, 94.380858 ] }, { "date": "2024-03-15", "close": 103.272089, "volume": 3164718, "typical_volume": 4645271.7, "trend": 91.422277, "fair_value": 78.546157, "relative_strength": 6.91626, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 66.231278, "energy": 63.056136, "activity_lines": [ 102.971146, 101.513878, 98.014737, 95.190428 ] }, { "date": "2024-03-22", "close": 104.302927, "volume": 3566690, "typical_volume": 4589419.0, "trend": 92.088957, "fair_value": 78.751448, "relative_strength": 4.871057, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 67.662208, "energy": 54.694657, "activity_lines": [ 103.490864, 102.299054, 98.839011, 96.021438 ] }, { "date": "2024-03-29", "close": 103.252266, "volume": 2878566, "typical_volume": 4607333.1, "trend": 92.694605, "fair_value": 78.936581, "relative_strength": 4.477835, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 60.110635, "energy": 47.003483, "activity_lines": [ 103.408213, 102.723608, 99.499729, 96.741652 ] }, { "date": "2024-04-05", "close": 101.497859, "volume": 4605816, "typical_volume": 4640579.4, "trend": 93.234517, "fair_value": 79.091963, "relative_strength": 3.547751, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 57.047289, "energy": 42.04669, "activity_lines": [ 102.794997, 102.715417, 99.940995, 97.309604 ] }, { "date": "2024-04-12", "close": 101.230238, "volume": 3899413, "typical_volume": 4756857.05, "trend": 93.862793, "fair_value": 79.240862, "relative_strength": 3.696454, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 43.870616, "energy": 32.641777, "activity_lines": [ 102.251824, 102.574544, 100.313564, 97.825457 ] }, { "date": "2024-04-19", "close": 100.159753, "volume": 3130468, "typical_volume": 4642967.05, "trend": 94.504193, "fair_value": 79.379636, "relative_strength": 8.307504, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 39.170324, "energy": 23.957356, "activity_lines": [ 101.401384, 102.141876, 100.551385, 98.231712 ] }, { "date": "2024-04-26", "close": 100.942793, "volume": 4355945, "typical_volume": 4574443.15, "trend": 95.22413, "fair_value": 79.516844, "relative_strength": 4.856808, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 34.339869, "energy": 17.934748, "activity_lines": [ 101.019445, 101.873985, 100.833812, 98.647106 ] }, { "date": "2024-05-03", "close": 103.619006, "volume": 5325822, "typical_volume": 4254837.9, "trend": 95.918181, "fair_value": 79.663366, "relative_strength": 6.374835, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 43.758597, "energy": 23.559869, "activity_lines": [ 101.753586, 102.085004, 101.316482, 99.18871 ] }, { "date": "2024-05-10", "close": 109.437291, "volume": 5743326, "typical_volume": 4336551.1, "trend": 96.823323, "fair_value": 79.838716, "relative_strength": 10.437968, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 73.850699, "energy": 44.88038, "activity_lines": [ 104.402707, 103.362017, 102.275945, 100.060911 ] }, { "date": "2024-05-17", "close": 111.816148, "volume": 4157533, "typical_volume": 4447442.1, "trend": 97.866461, "fair_value": 80.04782, "relative_strength": 10.027245, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 79.524836, "energy": 73.806139, "activity_lines": [ 107.315484, 104.970629, 103.370937, 101.02819 ] }, { "date": "2024-05-24", "close": 111.261081, "volume": 3731453, "typical_volume": 4324463.35, "trend": 98.682677, "fair_value": 80.234986, "relative_strength": 7.577302, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 73.660286, "energy": 80.994924, "activity_lines": [ 109.337512, 106.299364, 104.309152, 101.892359 ] }, { "date": "2024-05-31", "close": 108.049625, "volume": 4105855, "typical_volume": 4205022.55, "trend": 99.252019, "fair_value": 80.411111, "relative_strength": 5.768928, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 63.56454, "energy": 76.242215, "activity_lines": [ 109.548965, 106.898944, 104.85024, 102.496678 ] }, { "date": "2024-06-07", "close": 104.479694, "volume": 4138237, "typical_volume": 4213583.1, "trend": 99.659491, "fair_value": 80.556062, "relative_strength": -0.65901, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 60.034903, "energy": 56.285167, "activity_lines": [ 108.096653, 106.781323, 104.989077, 102.833948 ] }, { "date": "2024-06-14", "close": 103.487578, "volume": 3937751, "typical_volume": 4240490.35, "trend": 100.028287, "fair_value": 80.696161, "relative_strength": -5.132142, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 41.643876, "energy": 26.905668, "activity_lines": [ 106.256257, 106.461002, 104.997786, 103.080921 ] }, { "date": "2024-06-21", "close": 104.886461, "volume": 3098337, "typical_volume": 4106709.3, "trend": 100.379735, "fair_value": 80.833172, "relative_strength": -4.276838, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 33.936679, "energy": 19.922936, "activity_lines": [ 105.278802, 106.358845, 105.108241, 103.394352 ] }, { "date": "2024-06-28", "close": 105.164254, "volume": 4031753, "typical_volume": 4017372.9, "trend": 100.756337, "fair_value": 80.973973, "relative_strength": -4.245506, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 29.509659, "energy": 20.673756, "activity_lines": [ 104.855924, 106.24072, 105.202296, 103.70303 ] }, { "date": "2024-07-05", "close": 105.65039, "volume": 2196437, "typical_volume": 3924048.2, "trend": 101.295701, "fair_value": 81.104579, "relative_strength": -7.378143, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 28.610247, "energy": 17.393273, "activity_lines": [ 105.001547, 106.119992, 105.324686, 104.018776 ] }, { "date": "2024-07-12", "close": 104.112611, "volume": 3569961, "typical_volume": 3893862.75, "trend": 101.853453, "fair_value": 81.235059, "relative_strength": -8.69743, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 26.341655, "energy": 13.305613, "activity_lines": [ 104.794525, 105.634075, 105.276194, 104.200512 ] }, { "date": "2024-07-19", "close": 108.537447, "volume": 3986360, "typical_volume": 3875221.95, "trend": 102.460665, "fair_value": 81.379399, "relative_strength": -1.145443, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 52.676913, "energy": 24.547756, "activity_lines": [ 106.086921, 105.9437, 105.648892, 104.631737 ] }, { "date": "2024-07-26", "close": 105.997631, "volume": 5814929, "typical_volume": 3971968.5, "trend": 102.994109, "fair_value": 81.514303, "relative_strength": -1.0189, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 40.444039, "energy": 20.551129, "activity_lines": [ 106.196054, 105.8079, 105.757556, 104.859929 ] }, { "date": "2024-08-02", "close": 109.003741, "volume": 3676005, "typical_volume": 3997532.85, "trend": 103.557779, "fair_value": 81.654977, "relative_strength": 4.818513, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 52.611117, "energy": 28.467391, "activity_lines": [ 107.233145, 106.324457, 106.133355, 105.247647 ] }, { "date": "2024-08-09", "close": 114.49014, "volume": 3585888, "typical_volume": 3998492.75, "trend": 104.208274, "fair_value": 81.835969, "relative_strength": 9.395443, "stage": 2, "regime": "deceleration", "modifier": "Re-acceleration watch", "gate": "up", "direction": 71.79341, "energy": 61.1188, "activity_lines": [ 109.843071, 107.879584, 107.004374, 105.95296 ] }, { "date": "2024-08-16", "close": 115.095331, "volume": 3168077, "typical_volume": 4012968.3, "trend": 104.811605, "fair_value": 82.029505, "relative_strength": 4.180356, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 71.829342, "energy": 70.370701, "activity_lines": [ 112.06541, 109.427645, 107.88452, 106.655351 ] }, { "date": "2024-08-23", "close": 116.523977, "volume": 2497507, "typical_volume": 3907552.85, "trend": 105.466519, "fair_value": 82.217632, "relative_strength": 4.298868, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 75.000971, "energy": 77.472796, "activity_lines": [ 114.031783, 111.042448, 108.844331, 107.410988 ] }, { "date": "2024-08-30", "close": 117.307748, "volume": 2456702, "typical_volume": 3835417.3, "trend": 106.180566, "fair_value": 82.413978, "relative_strength": 5.653223, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 73.215488, "energy": 80.944312, "activity_lines": [ 115.726977, 112.56273, 109.807235, 108.174938 ] }, { "date": "2024-09-06", "close": 111.022812, "volume": 3815195, "typical_volume": 3869653.65, "trend": 106.501589, "fair_value": 82.586312, "relative_strength": 5.991158, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 62.495411, "energy": 64.909061, "activity_lines": [ 114.573186, 112.714455, 110.095014, 108.487341 ] }, { "date": "2024-09-13", "close": 116.712471, "volume": 3023111, "typical_volume": 3803011.95, "trend": 107.041315, "fair_value": 82.805238, "relative_strength": 4.987181, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 69.09292, "energy": 55.639336, "activity_lines": [ 115.181342, 113.794143, 110.872936, 109.146108 ] }, { "date": "2024-09-20", "close": 118.638812, "volume": 3601953, "typical_volume": 3716818.5, "trend": 107.527081, "fair_value": 83.041162, "relative_strength": 4.988833, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 72.179203, "energy": 51.113773, "activity_lines": [ 116.283457, 115.022947, 111.759225, 109.894333 ] }, { "date": "2024-09-27", "close": 120.892831, "volume": 3235761, "typical_volume": 3591440.25, "trend": 108.093955, "fair_value": 83.300962, "relative_strength": 5.667919, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 75.387424, "energy": 53.688107, "activity_lines": [ 117.900679, 116.39746, 112.788661, 110.75664 ] }, { "date": "2024-10-04", "close": 130.48482, "volume": 4433233, "typical_volume": 3605225.25, "trend": 109.044327, "fair_value": 83.611565, "relative_strength": 13.554538, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 90.405865, "energy": 85.989242, "activity_lines": [ 122.423974, 119.291327, 114.677068, 112.201212 ] }, { "date": "2024-10-11", "close": 132.500528, "volume": 4189073, "typical_volume": 3628106.25, "trend": 110.018609, "fair_value": 83.936283, "relative_strength": 13.510395, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 87.738224, "energy": 93.533439, "activity_lines": [ 126.740701, 122.106466, 116.66855, 113.714515 ] }, { "date": "2024-10-18", "close": 132.103344, "volume": 4605754, "typical_volume": 3653101.2, "trend": 110.945289, "fair_value": 84.244315, "relative_strength": 12.56359, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 79.886249, "energy": 91.629425, "activity_lines": [ 129.493184, 124.422174, 118.521064, 115.139337 ] }, { "date": "2024-10-25", "close": 131.567146, "volume": 3562098, "typical_volume": 3624294.25, "trend": 111.889119, "fair_value": 84.527731, "relative_strength": 11.800135, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 71.847904, "energy": 89.243059, "activity_lines": [ 131.040877, 126.320152, 120.20797, 116.469779 ] }, { "date": "2024-11-01", "close": 126.006572, "volume": 5392547, "typical_volume": 3697034.05, "trend": 112.706076, "fair_value": 84.741564, "relative_strength": 8.725279, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 67.236582, "energy": 82.569301, "activity_lines": [ 129.873157, 126.907629, 121.23631, 117.380582 ] }, { "date": "2024-11-08", "close": 131.001159, "volume": 4367246, "typical_volume": 3760479.5, "trend": 113.69844, "fair_value": 84.978742, "relative_strength": 7.081932, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 70.811529, "energy": 65.232332, "activity_lines": [ 130.029382, 128.230802, 122.633091, 118.56091 ] }, { "date": "2024-11-15", "close": 127.942844, "volume": 3832195, "typical_volume": 3750501.6, "trend": 114.624543, "fair_value": 85.183619, "relative_strength": 8.137355, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 62.354084, "energy": 54.077794, "activity_lines": [ 129.131747, 128.748946, 123.614249, 119.479904 ] }, { "date": "2024-11-22", "close": 135.032575, "volume": 4620436, "typical_volume": 3871701.55, "trend": 115.760869, "fair_value": 85.445948, "relative_strength": 11.840569, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 77.659464, "energy": 58.058747, "activity_lines": [ 130.901201, 130.248496, 125.16215, 120.796551 ] }, { "date": "2024-11-29", "close": 134.546025, "volume": 2796724, "typical_volume": 3833039.7, "trend": 116.79177, "fair_value": 85.706353, "relative_strength": 10.382125, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 71.962626, "energy": 58.566177, "activity_lines": [ 132.31319, 131.326489, 126.523797, 122.008497 ] }, { "date": "2024-12-06", "close": 130.015442, "volume": 4351325, "typical_volume": 3851287.95, "trend": 117.477708, "fair_value": 85.940546, "relative_strength": 3.130604, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 59.714504, "energy": 49.482846, "activity_lines": [ 132.016392, 131.291517, 127.30904, 122.861637 ] }, { "date": "2024-12-13", "close": 130.671282, "volume": 5432364, "typical_volume": 3832159.7, "trend": 118.106212, "fair_value": 86.181019, "relative_strength": 2.61847, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 58.440331, "energy": 46.249966, "activity_lines": [ 131.67095, 131.209924, 128.054467, 123.712835 ] }, { "date": "2024-12-20", "close": 131.893531, "volume": 4888281, "typical_volume": 3892773.5, "trend": 118.793961, "fair_value": 86.404482, "relative_strength": 5.677399, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 56.326077, "energy": 40.443688, "activity_lines": [ 131.754916, 131.347168, 128.798805, 124.60234 ] }, { "date": "2024-12-27", "close": 134.079666, "volume": 1396304, "typical_volume": 3783294.3, "trend": 119.661629, "fair_value": 86.634096, "relative_strength": 6.156399, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 62.160721, "energy": 39.459144, "activity_lines": [ 132.304214, 131.892926, 129.642347, 125.588514 ] }, { "date": "2025-01-03", "close": 133.582817, "volume": 2905833, "typical_volume": 3770182.1, "trend": 120.631733, "fair_value": 86.91487, "relative_strength": 6.370791, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 59.519817, "energy": 40.183504, "activity_lines": [ 132.751423, 132.312416, 130.345287, 126.486656 ] }, { "date": "2025-01-10", "close": 130.253929, "volume": 3689091, "typical_volume": 3829761.3, "trend": 121.523945, "fair_value": 87.172984, "relative_strength": 5.851366, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 52.493337, "energy": 34.318535, "activity_lines": [ 132.153217, 132.090005, 130.643155, 127.107442 ] }, { "date": "2025-01-17", "close": 128.206911, "volume": 4822119, "typical_volume": 3948032.15, "trend": 122.301293, "fair_value": 87.432192, "relative_strength": 1.169488, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 38.693885, "energy": 23.581032, "activity_lines": [ 130.856772, 131.418184, 130.680688, 127.538602 ] }, { "date": "2025-01-24", "close": 130.174433, "volume": 4016625, "typical_volume": 3958103.65, "trend": 123.134966, "fair_value": 87.746405, "relative_strength": 1.065032, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 35.116967, "energy": 17.634651, "activity_lines": [ 130.38046, 131.154898, 130.853703, 128.046546 ] }, { "date": "2025-01-31", "close": 126.100272, "volume": 4621753, "typical_volume": 4038035.75, "trend": 123.816628, "fair_value": 88.026514, "relative_strength": -0.852404, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 8.936448, "energy": 11.406707, "activity_lines": [ 128.6607, 130.110282, 130.547504, 128.237856 ] }, { "date": "2025-02-07", "close": 123.566342, "volume": 6926115, "typical_volume": 4204243.85, "trend": 124.465086, "fair_value": 88.293777, "relative_strength": -2.984255, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": -3.176625, "energy": 15.470002, "activity_lines": [ 126.628257, 128.767357, 129.955275, 128.221709 ] }, { "date": "2025-02-14", "close": 126.229452, "volume": 5919544, "typical_volume": 4338433.0, "trend": 125.054819, "fair_value": 88.595533, "relative_strength": -3.696006, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 5.725484, "energy": 16.336199, "activity_lines": [ 126.151281, 128.108264, 129.593211, 128.335539 ] }, { "date": "2025-02-21", "close": 133.304582, "volume": 5336907, "typical_volume": 4383616.7, "trend": 125.965051, "fair_value": 88.929057, "relative_strength": 3.922581, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 24.123303, "energy": 16.080588, "activity_lines": [ 128.300981, 128.804395, 129.879557, 128.867782 ] }, { "date": "2025-02-28", "close": 134.516893, "volume": 5163866, "typical_volume": 4432356.35, "trend": 126.81549, "fair_value": 89.240709, "relative_strength": 8.305741, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 42.882642, "energy": 19.213921, "activity_lines": [ 130.51494, 129.673067, 130.267933, 129.419513 ] }, { "date": "2025-03-07", "close": 132.5063, "volume": 5089349, "typical_volume": 4456536.1, "trend": 127.416028, "fair_value": 89.567867, "relative_strength": 9.930809, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 38.081357, "energy": 25.711585, "activity_lines": [ 131.769204, 130.12848, 130.455222, 129.786662 ] }, { "date": "2025-03-14", "close": 135.06234, "volume": 5350868, "typical_volume": 4545974.6, "trend": 128.081595, "fair_value": 89.86778, "relative_strength": 14.506133, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 57.94779, "energy": 39.316714, "activity_lines": [ 133.448413, 131.077234, 130.884025, 130.279973 ] }, { "date": "2025-03-21", "close": 141.636434, "volume": 6055882, "typical_volume": 4579141.35, "trend": 128.918677, "fair_value": 90.220851, "relative_strength": 19.227234, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 75.621504, "energy": 67.382571, "activity_lines": [ 136.552587, 133.194378, 131.922289, 131.154478 ] }, { "date": "2025-03-28", "close": 145.972751, "volume": 4112658, "typical_volume": 4566411.95, "trend": 129.874177, "fair_value": 90.597817, "relative_strength": 25.060517, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 82.9108, "energy": 78.405254, "activity_lines": [ 140.075067, 135.892988, 133.299107, 132.254741 ] }, { "date": "2025-04-04", "close": 129.890586, "volume": 9173630, "typical_volume": 4833483.7, "trend": 130.503103, "fair_value": 90.862877, "relative_strength": 22.748641, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 48.451377, "energy": 49.733735, "activity_lines": [ 137.392281, 135.344552, 133.072997, 132.2558 ] }, { "date": "2025-04-11", "close": 127.384274, "volume": 11173469, "typical_volume": 5161135.35, "trend": 130.85883, "fair_value": 91.139951, "relative_strength": 11.563241, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 24.214044, "energy": 17.547925, "activity_lines": [ 134.182478, 134.345585, 132.598915, 132.054585 ] }, { "date": "2025-04-18", "close": 133.650053, "volume": 4522139, "typical_volume": 5247406.1, "trend": 131.359204, "fair_value": 91.498805, "relative_strength": 19.236979, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 31.417594, "energy": 13.384096, "activity_lines": [ 133.402737, 134.462504, 132.757995, 132.234664 ] }, { "date": "2025-04-25", "close": 134.55511, "volume": 4266601, "typical_volume": 5243169.9, "trend": 131.814614, "fair_value": 91.913136, "relative_strength": 12.394196, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 25.726353, "energy": 18.520488, "activity_lines": [ 133.018834, 134.56064, 133.007538, 132.440852 ] }, { "date": "2025-05-02", "close": 141.089422, "volume": 6102761, "typical_volume": 5276689.75, "trend": 132.168101, "fair_value": 92.415438, "relative_strength": 13.505527, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 44.438092, "energy": 18.318946, "activity_lines": [ 135.285123, 135.695456, 133.857778, 133.039226 ] }, { "date": "2025-05-09", "close": 146.659003, "volume": 5475402, "typical_volume": 5306045.8, "trend": 132.64005, "fair_value": 92.932038, "relative_strength": 17.735755, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 64.928848, "energy": 51.836271, "activity_lines": [ 139.733494, 137.701381, 135.188845, 133.974123 ] }, { "date": "2025-05-16", "close": 144.381442, "volume": 5799893, "typical_volume": 5526225.25, "trend": 133.04932, "fair_value": 93.443481, "relative_strength": 8.226032, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 59.30671, "energy": 58.298119, "activity_lines": [ 142.304784, 139.072438, 136.232689, 134.731632 ] }, { "date": "2025-05-23", "close": 144.828998, "volume": 3870485, "typical_volume": 5574457.85, "trend": 133.491381, "fair_value": 93.938088, "relative_strength": 10.844199, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 61.054367, "energy": 63.777536, "activity_lines": [ 143.892115, 140.308957, 137.270101, 135.491612 ] }, { "date": "2025-05-30", "close": 143.665353, "volume": 3327617, "typical_volume": 5556384.15, "trend": 134.080007, "fair_value": 94.432664, "relative_strength": 7.576274, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 58.198293, "energy": 61.441445, "activity_lines": [ 144.346301, 141.156329, 138.143137, 136.147997 ] }, { "date": "2025-06-06", "close": 139.404903, "volume": 5974647, "typical_volume": 5614010.55, "trend": 134.360132, "fair_value": 94.898668, "relative_strength": 1.982072, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 54.238051, "energy": 38.765607, "activity_lines": [ 142.772987, 141.192184, 138.546552, 136.491539 ] }, { "date": "2025-06-13", "close": 136.627754, "volume": 5142198, "typical_volume": 5670289.2, "trend": 134.649629, "fair_value": 95.349896, "relative_strength": 0.198145, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 37.080612, "energy": 20.711365, "activity_lines": [ 140.386259, 140.842519, 138.632153, 136.637837 ] }, { "date": "2025-06-20", "close": 138.698173, "volume": 4800667, "typical_volume": 5679234.9, "trend": 134.771816, "fair_value": 95.772038, "relative_strength": 1.413686, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 32.27436, "energy": 16.186417, "activity_lines": [ 139.35842, 140.746799, 138.884206, 136.899033 ] }, { "date": "2025-06-27", "close": 144.262424, "volume": 6417614, "typical_volume": 5653809.85, "trend": 135.095696, "fair_value": 96.264075, "relative_strength": 0.960593, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 40.54394, "energy": 18.739858, "activity_lines": [ 140.564216, 141.457054, 139.606198, 137.51133 ] }, { "date": "2025-07-04", "close": 138.339831, "volume": 6681315, "typical_volume": 5691898.4, "trend": 135.373175, "fair_value": 96.705792, "relative_strength": -4.842179, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 30.271863, "energy": 14.906454, "activity_lines": [ 139.833585, 140.897522, 139.665581, 137.720629 ] }, { "date": "2025-07-11", "close": 135.443235, "volume": 7383276, "typical_volume": 5794216.85, "trend": 135.53224, "fair_value": 97.14262, "relative_strength": -6.720258, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 19.217702, "energy": 10.259837, "activity_lines": [ 138.492458, 139.742523, 139.391429, 137.725149 ] }, { "date": "2025-07-18", "close": 137.369322, "volume": 4839972, "typical_volume": 5778022.15, "trend": 135.714767, "fair_value": 97.575846, "relative_strength": -6.687172, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 12.895656, "energy": 7.969861, "activity_lines": [ 138.057471, 139.040379, 139.290529, 137.843671 ] }, { "date": "2025-07-25", "close": 138.369693, "volume": 4348117, "typical_volume": 5740960.55, "trend": 135.857768, "fair_value": 98.018322, "relative_strength": -6.951731, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 13.159991, "energy": 11.774962, "activity_lines": [ 137.906503, 138.689025, 139.271321, 138.014956 ] }, { "date": "2025-08-01", "close": 136.408767, "volume": 9223917, "typical_volume": 5934613.0, "trend": 135.951966, "fair_value": 98.456044, "relative_strength": -6.215735, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 7.658031, "energy": 11.087922, "activity_lines": [ 137.123792, 138.090443, 139.037436, 138.050505 ] }, { "date": "2025-08-08", "close": 134.816137, "volume": 6475100, "typical_volume": 5955573.9, "trend": 136.10404, "fair_value": 98.858155, "relative_strength": -10.507911, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 1.379372, "energy": 10.985094, "activity_lines": [ 136.333781, 137.355387, 138.645461, 137.977225 ] }, { "date": "2025-08-15", "close": 129.600274, "volume": 5501604, "typical_volume": 6025021.2, "trend": 136.150485, "fair_value": 99.228847, "relative_strength": -14.265477, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -31.951388, "energy": 37.8036, "activity_lines": [ 134.040062, 135.832887, 137.789214, 137.557628 ] }, { "date": "2025-08-22", "close": 127.400453, "volume": 5840356, "typical_volume": 5858357.5, "trend": 136.058019, "fair_value": 99.601196, "relative_strength": -14.795707, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -45.059024, "energy": 54.884439, "activity_lines": [ 131.4026, 134.088685, 136.801425, 136.993109 ] }, { "date": "2025-08-29", "close": 122.79178, "volume": 6177688, "typical_volume": 5608568.45, "trend": 135.947736, "fair_value": 99.966904, "relative_strength": -17.455129, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -51.828457, "energy": 66.254467, "activity_lines": [ 127.893505, 131.674312, 135.386573, 136.137223 ] }, { "date": "2025-09-05", "close": 118.655266, "volume": 8624670, "typical_volume": 5813695.0, "trend": 135.784033, "fair_value": 100.298397, "relative_strength": -20.769255, "stage": 4, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -83.119166, "energy": 83.710144, "activity_lines": [ 124.0441, 128.797053, 133.599636, 135.02158 ] }, { "date": "2025-09-12", "close": 117.489537, "volume": 8995426, "typical_volume": 6050136.25, "trend": 135.492703, "fair_value": 100.645388, "relative_strength": -22.69849, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -79.746987, "energy": 86.851532, "activity_lines": [ 120.989685, 126.173428, 131.77308, 133.84129 ] }, { "date": "2025-09-19", "close": 111.670856, "volume": 8497154, "typical_volume": 6169855.9, "trend": 134.771579, "fair_value": 100.984992, "relative_strength": -27.755559, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -85.247248, "energy": 91.697558, "activity_lines": [ 117.150816, 122.870957, 129.47363, 132.304396 ] }, { "date": "2025-09-26", "close": 110.574872, "volume": 7857378, "typical_volume": 6288954.7, "trend": 133.973511, "fair_value": 101.337763, "relative_strength": -27.796694, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -81.109373, "energy": 91.774958, "activity_lines": [ 114.141914, 119.801441, 127.209888, 130.743319 ] }, { "date": "2025-10-03", "close": 109.578522, "volume": 9296183, "typical_volume": 6463769.2, "trend": 133.209252, "fair_value": 101.691027, "relative_strength": -28.836481, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -78.170134, "energy": 90.991513, "activity_lines": [ 111.9226, 117.037943, 125.023085, 129.169448 ] }, { "date": "2025-10-10", "close": 106.699072, "volume": 9172549, "typical_volume": 6728872.4, "trend": 132.26381, "fair_value": 102.038264, "relative_strength": -28.619882, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -79.971942, "energy": 91.028658, "activity_lines": [ 109.624354, 114.274384, 122.727777, 127.459114 ] }, { "date": "2025-10-17", "close": 106.529692, "volume": 7585791, "typical_volume": 6941781.1, "trend": 131.093585, "fair_value": 102.379556, "relative_strength": -29.946208, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -74.91617, "energy": 87.410448, "activity_lines": [ 108.066728, 112.020205, 120.597908, 125.798848 ] }, { "date": "2025-10-24", "close": 110.544981, "volume": 7416123, "typical_volume": 7013854.9, "trend": 129.912659, "fair_value": 102.736869, "relative_strength": -28.376355, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -67.089076, "energy": 69.317714, "activity_lines": [ 108.578187, 111.010377, 119.027285, 124.473132 ] }, { "date": "2025-10-31", "close": 105.005278, "volume": 8466876, "typical_volume": 7180088.8, "trend": 129.083149, "fair_value": 103.057409, "relative_strength": -32.779657, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -75.771108, "energy": 68.180587, "activity_lines": [ 107.318137, 109.339791, 117.066499, 122.866204 ] }, { "date": "2025-11-07", "close": 108.711698, "volume": 7029887, "typical_volume": 7291549.8, "trend": 128.46073, "fair_value": 103.381641, "relative_strength": -27.765134, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -64.269037, "energy": 61.799056, "activity_lines": [ 107.664867, 108.750284, 115.609288, 121.551917 ] }, { "date": "2025-11-14", "close": 109.120201, "volume": 5248527, "typical_volume": 7233095.45, "trend": 127.643068, "fair_value": 103.71985, "relative_strength": -26.934587, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -61.425352, "energy": 56.442207, "activity_lines": [ 108.205552, 108.491052, 114.333776, 120.304141 ] }, { "date": "2025-11-21", "close": 106.071372, "volume": 6602404, "typical_volume": 7229149.9, "trend": 126.69361, "fair_value": 104.032836, "relative_strength": -26.201543, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -67.510761, "energy": 57.630643, "activity_lines": [ 107.568553, 107.850852, 112.935242, 118.912419 ] }, { "date": "2025-11-28", "close": 108.462611, "volume": 4049736, "typical_volume": 7062472.9, "trend": 125.60605, "fair_value": 104.327373, "relative_strength": -27.577979, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -57.915004, "energy": 48.855335, "activity_lines": [ 107.759188, 107.853026, 111.918105, 117.736225 ] }, { "date": "2025-12-05", "close": 107.497249, "volume": 4871933, "typical_volume": 7064070.95, "trend": 124.300658, "fair_value": 104.608581, "relative_strength": -28.503121, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -51.140941, "energy": 46.043436, "activity_lines": [ 107.76686, 107.738011, 110.937508, 116.567915 ] }, { "date": "2025-12-12", "close": 106.898767, "volume": 4875685, "typical_volume": 7090449.35, "trend": 123.051236, "fair_value": 104.896442, "relative_strength": -27.098862, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -60.764398, "energy": 48.071122, "activity_lines": [ 107.408907, 107.570138, 110.04216, 115.445213 ] }, { "date": "2025-12-19", "close": 104.255474, "volume": 9089349, "typical_volume": 7083720.95, "trend": 121.698785, "fair_value": 105.158639, "relative_strength": -28.799971, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -69.47691, "energy": 52.230411, "activity_lines": [ 106.290719, 106.97039, 109.044932, 114.232583 ] }, { "date": "2025-12-26", "close": 107.527173, "volume": 3155747, "typical_volume": 6917753.3, "trend": 120.494179, "fair_value": 105.437639, "relative_strength": -26.958153, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -58.496849, "energy": 45.137423, "activity_lines": [ 106.587411, 107.009924, 108.512405, 113.318285 ] }, { "date": "2026-01-02", "close": 105.931222, "volume": 3381861, "typical_volume": 6811766.15, "trend": 119.37839, "fair_value": 105.695097, "relative_strength": -26.260754, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -59.723052, "energy": 45.123682, "activity_lines": [ 106.255067, 106.74115, 107.957831, 112.37874 ] }, { "date": "2026-01-09", "close": 103.597144, "volume": 8126103, "typical_volume": 6926053.5, "trend": 118.277369, "fair_value": 105.906694, "relative_strength": -28.901099, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -67.954956, "energy": 48.651038, "activity_lines": [ 105.313456, 106.131884, 107.293673, 111.360595 ] }, { "date": "2026-01-16", "close": 105.99107, "volume": 7427291, "typical_volume": 6988533.65, "trend": 117.187132, "fair_value": 106.129593, "relative_strength": -26.160745, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -56.040317, "energy": 39.964162, "activity_lines": [ 105.429827, 105.983481, 106.970857, 110.56793 ] }, { "date": "2026-01-23", "close": 102.539827, "volume": 4732553, "typical_volume": 6793927.8, "trend": 115.796379, "fair_value": 106.306799, "relative_strength": -28.240697, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -66.562084, "energy": 46.0745, "activity_lines": [ 104.456298, 105.257044, 106.399354, 109.622943 ] }, { "date": "2026-01-30", "close": 102.809144, "volume": 7363443, "typical_volume": 6712328.65, "trend": 114.612023, "fair_value": 106.51107, "relative_strength": -27.483954, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -63.059321, "energy": 46.699547, "activity_lines": [ 103.686917, 104.699217, 105.930241, 108.785057 ] }, { "date": "2026-02-06", "close": 111.846214, "volume": 11073038, "typical_volume": 6841122.85, "trend": 113.825456, "fair_value": 106.762403, "relative_strength": -19.159984, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -24.113864, "energy": 17.27333, "activity_lines": [ 106.244427, 105.843808, 106.391708, 108.606617 ] }, { "date": "2026-02-13", "close": 113.122975, "volume": 9063597, "typical_volume": 6901433.8, "trend": 113.017244, "fair_value": 107.028997, "relative_strength": -16.850344, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -0.057202, "energy": 6.559916, "activity_lines": [ 108.833192, 107.159016, 106.973936, 108.561296 ] }, { "date": "2026-02-20", "close": 119.167638, "volume": 6895537, "typical_volume": 6781401.5, "trend": 112.377176, "fair_value": 107.343944, "relative_strength": -12.962227, "stage": 1, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "mixed", "direction": 37.246267, "energy": 35.418915, "activity_lines": [ 112.80179, 109.470968, 108.119713, 108.958096 ] }, { "date": "2026-02-27", "close": 122.943058, "volume": 7538804, "typical_volume": 6699714.25, "trend": 111.928319, "fair_value": 107.660631, "relative_strength": -9.487798, "stage": 1, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 43.863088, "energy": 54.333339, "activity_lines": [ 117.150423, 112.24629, 109.579391, 109.639766 ] }, { "date": "2026-03-06", "close": 124.416148, "volume": 7124063, "typical_volume": 6676627.85, "trend": 111.581652, "fair_value": 108.025418, "relative_strength": -6.743868, "stage": 1, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 51.771211, "energy": 75.218045, "activity_lines": [ 120.62987, 114.949672, 111.10201, 110.445432 ] }, { "date": "2026-03-13", "close": 124.246385, "volume": 7413026, "typical_volume": 6676473.0, "trend": 111.403189, "fair_value": 108.341413, "relative_strength": -5.321842, "stage": 1, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 47.456225, "energy": 75.782416, "activity_lines": [ 122.612263, 117.315116, 112.523289, 111.262512 ] }, { "date": "2026-03-20", "close": 124.975366, "volume": 6440692, "typical_volume": 6575163.8, "trend": 111.322353, "fair_value": 108.671381, "relative_strength": -2.166352, "stage": 1, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "up", "direction": 71.90583, "energy": 84.42366, "activity_lines": [ 124.010971, 119.480099, 113.948749, 112.138136 ] }, { "date": "2026-03-27", "close": 116.407339, "volume": 6478669, "typical_volume": 6547602.9, "trend": 111.109538, "fair_value": 108.917639, "relative_strength": -4.955063, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 63.630697, "energy": 57.372226, "activity_lines": [ 121.763511, 119.698564, 114.463111, 112.466199 ] }, { "date": "2026-04-03", "close": 123.028087, "volume": 5490166, "typical_volume": 6559684.85, "trend": 111.255299, "fair_value": 109.235124, "relative_strength": -2.548069, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 65.209927, "energy": 47.588613, "activity_lines": [ 121.906987, 120.931414, 115.571375, 113.235138 ] }, { "date": "2026-04-10", "close": 121.270543, "volume": 5991518, "typical_volume": 6529140.55, "trend": 111.381333, "fair_value": 109.565828, "relative_strength": -7.354496, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 48.529375, "energy": 36.303509, "activity_lines": [ 121.458946, 121.472197, 116.446025, 113.881283 ] }, { "date": "2026-04-17", "close": 118.174869, "volume": 6853629, "typical_volume": 6669335.2, "trend": 111.598133, "fair_value": 109.865869, "relative_strength": -14.048165, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 42.445669, "energy": 26.175483, "activity_lines": [ 120.188721, 121.114469, 116.953473, 114.319576 ] }, { "date": "2026-04-24", "close": 113.131916, "volume": 6823730, "typical_volume": 6766925.05, "trend": 111.683368, "fair_value": 110.145604, "relative_strength": -18.637366, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 31.030961, "energy": 17.430587, "activity_lines": [ 117.64228, 119.724773, 116.93439, 114.418529 ] }, { "date": "2026-05-01", "close": 111.524162, "volume": 9669449, "typical_volume": 7006613.25, "trend": 111.748223, "fair_value": 110.405986, "relative_strength": -20.103916, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 16.488006, "energy": 16.3959, "activity_lines": [ 115.349484, 118.042596, 116.735356, 114.408258 ] }, { "date": "2026-05-08", "close": 108.658167, "volume": 5870729, "typical_volume": 6845682.25, "trend": 111.813526, "fair_value": 110.641922, "relative_strength": -25.18086, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -5.70857, "energy": 20.220542, "activity_lines": [ 112.426901, 115.978302, 116.241345, 114.2089 ] }, { "date": "2026-05-15", "close": 110.785195, "volume": 5787802, "typical_volume": 6977285.0, "trend": 111.955376, "fair_value": 110.909904, "relative_strength": -22.582113, "stage": 4, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -19.220811, "energy": 27.898725, "activity_lines": [ 111.171322, 114.560465, 115.928942, 114.142556 ] }, { "date": "2026-05-22", "close": 106.051809, "volume": 10105673, "typical_volume": 7313475.6, "trend": 111.805603, "fair_value": 111.152985, "relative_strength": -25.806118, "stage": 4, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -32.229816, "energy": 40.902175, "activity_lines": [ 109.036971, 112.529848, 115.150226, 113.76168 ] }, { "date": "2026-05-29", "close": 100.110112, "volume": 9727856, "typical_volume": 7393563.25, "trend": 111.642431, "fair_value": 111.348965, "relative_strength": -30.985927, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -44.180069, "energy": 61.351313, "activity_lines": [ 105.730258, 109.749733, 113.805061, 113.007132 ] }, { "date": "2026-06-05", "close": 102.53, "volume": 12495484, "typical_volume": 7646972.9, "trend": 111.436375, "fair_value": 111.557606, "relative_strength": -25.114932, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -32.656713, "energy": 56.127255, "activity_lines": [ 104.098295, 107.861693, 112.706965, 112.419234 ] }, { "date": "2026-06-12", "close": 101.19, "volume": 8102738, "typical_volume": 7815482.15, "trend": 111.172035, "fair_value": 111.757784, "relative_strength": -26.893201, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -42.27681, "energy": 60.301071, "activity_lines": [ 102.619277, 105.982332, 111.497732, 111.758177 ] }, { "date": "2026-06-19", "close": 99.49, "volume": 5575966, "typical_volume": 7726108.3, "trend": 110.952655, "fair_value": 111.955998, "relative_strength": -29.069075, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -43.15725, "energy": 60.29714, "activity_lines": [ 101.071469, 104.190936, 110.133022, 111.004498 ] }, { "date": "2026-06-26", "close": 93.52, "volume": 8840199, "typical_volume": 7614466.35, "trend": 110.454568, "fair_value": 112.121644, "relative_strength": -29.238214, "stage": 4, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -79.997379, "energy": 74.956917, "activity_lines": [ 98.286674, 101.710095, 108.215546, 109.87981 ] }, { "date": "2026-07-03", "close": 102.79, "volume": 8894878, "typical_volume": 7606030.4, "trend": 110.29766, "fair_value": 112.364959, "relative_strength": -22.043083, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -62.346718, "energy": 54.093386, "activity_lines": [ 99.427333, 101.36298, 107.268195, 109.385322 ] }, { "date": "2026-07-10", "close": 97.86, "volume": 7406273, "typical_volume": 7631567.2, "trend": 109.996368, "fair_value": 112.553484, "relative_strength": -26.256491, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -64.697355, "energy": 51.362794, "activity_lines": [ 98.746, 100.307535, 105.900524, 108.582892 ] }, { "date": "2026-07-17", "close": 99.9, "volume": 7836010, "typical_volume": 7646427.5, "trend": 109.851185, "fair_value": 112.720179, "relative_strength": -20.600424, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -59.2671, "energy": 44.295691, "activity_lines": [ 99.056, 99.871439, 104.828604, 107.931514 ] }, { "date": "2026-07-24", "close": 99.83, "volume": 4734227, "typical_volume": 7526935.7, "trend": 109.594613, "fair_value": 112.836375, "relative_strength": -18.508813, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -54.856617, "energy": 36.571369, "activity_lines": [ 99.428667, 99.581855, 103.859747, 107.284986 ] }, { "date": "2026-07-31", "close": 100.5, "volume": 14888827, "typical_volume": 7900725.75, "trend": 109.413572, "fair_value": 112.958324, "relative_strength": -17.51444, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -43.204334, "energy": 31.162245, "activity_lines": [ 100.002, 99.613275, 103.071776, 106.698236 ] }, { "date": "2026-08-07", "close": 102.62, "volume": 7995665, "typical_volume": 7978474.4, "trend": 109.381001, "fair_value": 113.098741, "relative_strength": -19.033467, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -38.412582, "energy": 24.368478, "activity_lines": [ 100.816667, 100.131091, 102.598787, 106.259941 ] } ], "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." } } }