{ "ticker": { "uuid": "229efffe-0307-4f07-89fe-e89124b4a682", "symbol": "ASMF", "name": "VIRTUS ALPHASIMPLEX MANAGED FUTURES ETF", "exchange": "NYSEARCA", "country": "US", "assetType": "etf" }, "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": "SPY", "stage": 3, "stage_name": "Distribution", "phase": "3b", "phase_label": "Stage 3B \u00b7 Distribution", "transition": "stage_3_churning", "transition_label": "Stage 3 range intact", "confidence": 77.233, "architecture_regime": "deceleration", "architecture_regime_label": "Deceleration", "architecture_modifier": "Recompressing", "architecture_gate": "up", "architecture_direction": 27.397, "architecture_energy": 15.339, "architecture_maturity": 20.535, "architecture_confidence": 41.103, "architecture_tenure": "Developing", "architecture": { "interpretation": { "headline": "The upward structure remains, but its energy is decelerating.", "body": "Trend remains positive, but Activity or price acceptance is losing strength. This can become a healthy recompression, a re-acceleration, or a Rotation Down." }, "scores": { "balance": 48.92, "rotation_up": 39.12, "upward_expansion": 58.92, "deceleration": 60.37, "rotation_down": 24.39, "downward_expansion": 18.25 }, "activity_lines": [ 25.79496, 25.747865, 25.780951, 25.734959 ], "activity_state": "Compressed", "activity_direction": "Contracting", "rotation_direction": "Stable", "price_acceptance": -0.166667 }, "latest_close": 25.7174, "trend_reference": 25.637883, "distance_from_trend": 0.003102, "trend_direction": "Improving", "fair_value": 24.049898, "distance_from_fair_value": 0.069335, "fair_value_direction": "Weakening", "relative_strength": -7.066877, "relative_strength_direction": "Weakening", "price_momentum": 0.006044, "excess_performance": -0.119581, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.003102, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.027043, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.069335, "read": "Premium" }, { "label": "Fair Value direction", "positive": false, "value": -0.020999, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.070669, "read": "Lagging" }, { "label": "Relative strength direction", "positive": false, "value": -0.040385, "read": "Weakening" }, { "label": "Price momentum", "positive": true, "value": 0.006044, "read": "Positive" }, { "label": "Volume balance", "positive": false, "value": 0.601085, "read": "Supply-led" } ], "volume": { "latest": 13305, "relative_activity": 0.849649, "balance": 0.601085, "dry_up": 1.211892, "accumulation_observations": 1, "distribution_observations": 2 }, "risk": { "range_context": 0.016974, "annualized_volatility": 0.086887, "from_high_reference": -0.033544, "from_low_reference": 0.146235 }, "levels": { "trend_reference": 25.637883, "fair_value_reference": 24.049898, "structural_low": 24.38, "invalidation": "A decisive breakout above range resistance with renewed RS leadership invalidates the distribution reading; a range-low break confirms deterioration." }, "outcomes": [ { "horizon": "Near term", "sample_count": 4, "median_return": 0.009058, "positive_rate": 0.75, "directional_follow_through": 0.75, "median_excess_return": -0.030229, "regime_survival": 0.5, "best_return": 0.032286, "worst_return": -0.016133, "sufficient": false }, { "horizon": "Intermediate", "sample_count": 2, "median_return": 0.065462, "positive_rate": 1.0, "directional_follow_through": 1.0, "median_excess_return": -0.028397, "regime_survival": 0.5, "best_return": 0.126724, "worst_return": 0.004199, "sufficient": false }, { "horizon": "Extended", "sample_count": 1, "median_return": 0.133866, "positive_rate": 1.0, "directional_follow_through": 1.0, "median_excess_return": -0.004012, "regime_survival": 0.0, "best_return": 0.133866, "worst_return": 0.133866, "sufficient": false }, { "horizon": "Full cycle", "sample_count": 0, "median_return": null, "positive_rate": null, "directional_follow_through": null, "median_excess_return": null, "regime_survival": null, "best_return": null, "worst_return": null, "sufficient": false } ], "ledger": [ { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2025-11-21", "end": "2025-12-05", "tenure": "New", "return": 0.020201, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-12-12", "end": "2026-03-27", "tenure": "Established", "return": 0.065544, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2026-04-03", "end": "2026-05-01", "tenure": "Developing", "return": 0.017341, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-05-08", "end": "2026-06-12", "tenure": "Developing", "return": -0.007056, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2026-06-19", "end": "2026-08-07", "tenure": "Developing", "return": -0.012389, "active": true } ], "chart_path": [ { "date": "2024-05-17", "close": 25.024522, "volume": 205070, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-05-24", "close": 24.766602, "volume": 18411, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-05-31", "close": 24.802424, "volume": 20941, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-06-07", "close": 24.679647, "volume": 19979, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-06-14", "close": 24.17264, "volume": 29298, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-06-21", "close": 24.626454, "volume": 19984, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-06-28", "close": 25.071042, "volume": 13036, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-07-05", "close": 25.61819, "volume": 17345, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-07-12", "close": 25.610436, "volume": 30983, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-07-19", "close": 25.055928, "volume": 21467, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-07-26", "close": 24.583565, "volume": 12890, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-08-02", "close": 23.859564, "volume": 13417, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-08-09", "close": 23.662296, "volume": 16250, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-08-16", "close": 24.113754, "volume": 13723, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-08-23", "close": 24.231134, "volume": 21299, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-08-30", "close": 24.05585, "volume": 9158, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-09-06", "close": 23.791649, "volume": 3760, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-09-13", "close": 24.2012, "volume": 2173, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-09-20", "close": 24.357542, "volume": 14568, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-09-27", "close": 24.634305, "volume": 18044, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-10-04", "close": 23.892932, "volume": 7857, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-10-11", "close": 23.776633, "volume": 16874, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-10-18", "close": 23.959768, "volume": 17906, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-10-25", "close": 23.669755, "volume": 8736, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-01", "close": 23.36875, "volume": 25908, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-08", "close": 23.490546, "volume": 17354, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-15", "close": 23.290923, "volume": 4446, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-22", "close": 23.63776, "volume": 6616, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-29", "close": 23.297204, "volume": 23170, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-12-06", "close": 23.427734, "volume": 29723, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-12-13", "close": 23.53736, "volume": 41315, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-12-20", "close": 23.555203, "volume": 35810, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-12-27", "close": 23.878404, "volume": 38864, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-03", "close": 23.920813, "volume": 12377, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-10", "close": 24.316158, "volume": 31471, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-17", "close": 24.222062, "volume": 164648, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-24", "close": 24.038059, "volume": 31340, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-31", "close": 24.117887, "volume": 40244, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-02-07", "close": 23.830607, "volume": 12926, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-02-14", "close": 23.913029, "volume": 9856, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-02-21", "close": 23.670553, "volume": 5931, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-02-28", "close": 23.384172, "volume": 13122, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-03-07", "close": 23.181211, "volume": 21923, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-03-14", "close": 23.07045, "volume": 23749, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-03-21", "close": 23.185002, "volume": 18741, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-03-28", "close": 23.125531, "volume": 3661, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-04-04", "close": 22.11222, "volume": 21807, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-04-11", "close": 22.331347, "volume": 112987, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-04-18", "close": 22.481423, "volume": 175395, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-04-25", "close": 22.362979, "volume": 486720, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-02", "close": 22.155327, "volume": 15138, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-09", "close": 22.311789, "volume": 126252, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-16", "close": 22.104038, "volume": 26030, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-23", "close": 22.386727, "volume": 190843, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-30", "close": 22.373256, "volume": 412101, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-06-06", "close": 22.379742, "volume": 76758, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-06-13", "close": 22.256908, "volume": 89572, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-06-20", "close": 22.102242, "volume": 22264, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-06-27", "close": 22.481123, "volume": 29726, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-07-04", "close": 22.581307, "volume": 69398, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-07-11", "close": 22.680991, "volume": 84151, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-07-18", "close": 22.591186, "volume": 45615, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-07-25", "close": 22.800733, "volume": 36519, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-01", "close": 22.160017, "volume": 27694, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-08", "close": 22.507167, "volume": 65384, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-15", "close": 22.706636, "volume": 15560, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-22", "close": 22.872777, "volume": 447052, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-29", "close": 22.622717, "volume": 20012, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-09-05", "close": 22.601164, "volume": 54852, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-09-12", "close": 22.940431, "volume": 99171, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-09-19", "close": 23.029239, "volume": 54972, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-09-26", "close": 23.018961, "volume": 24355, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-10-03", "close": 23.471483, "volume": 19087, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-10-10", "close": 23.040914, "volume": 14802, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-10-17", "close": 23.471284, "volume": 19062, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-10-24", "close": 23.577754, "volume": 10992, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-10-31", "close": 23.363018, "volume": 88391, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-11-07", "close": 23.159557, "volume": 55659, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-11-14", "close": 23.233797, "volume": 7516, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-11-21", "close": 23.102381, "volume": 52058, "typical_volume": 62145.2, "trend": 22.736156, "fair_value": 23.463124, "relative_strength": -7.910438, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 38.554678, "energy": 22.246926, "activity_lines": [ 23.215304, 23.262069, 23.103261, 22.947848 ] }, { "date": "2025-11-28", "close": 23.596014, "volume": 17980, "typical_volume": 58836.65, "trend": 22.784178, "fair_value": 23.464764, "relative_strength": -9.084001, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 53.015871, "energy": 28.956761, "activity_lines": [ 23.318208, 23.325555, 23.165014, 23.003322 ] }, { "date": "2025-12-05", "close": 23.569073, "volume": 62101, "typical_volume": 59660.95, "trend": 22.826088, "fair_value": 23.466036, "relative_strength": -9.279335, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 58.878591, "energy": 35.238007, "activity_lines": [ 23.410914, 23.373838, 23.219844, 23.053961 ] }, { "date": "2025-12-12", "close": 23.663967, "volume": 13089, "typical_volume": 58489.45, "trend": 22.878086, "fair_value": 23.468421, "relative_strength": -8.169145, "stage": 1, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 61.867049, "energy": 42.629262, "activity_lines": [ 23.521515, 23.429373, 23.279054, 23.108017 ] }, { "date": "2025-12-19", "close": 23.848269, "volume": 12384, "typical_volume": 57723.95, "trend": 22.926804, "fair_value": 23.472943, "relative_strength": -7.317681, "stage": 1, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 71.336061, "energy": 68.992387, "activity_lines": [ 23.659923, 23.514917, 23.351707, 23.17061 ] }, { "date": "2025-12-26", "close": 24.265, "volume": 36976, "typical_volume": 56303.55, "trend": 22.989862, "fair_value": 23.482261, "relative_strength": -6.767495, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 82.433512, "energy": 80.738398, "activity_lines": [ 23.896276, 23.661551, 23.456009, 23.256945 ] }, { "date": "2026-01-02", "close": 24.1301, "volume": 7309, "typical_volume": 55891.0, "trend": 23.048207, "fair_value": 23.489794, "relative_strength": -6.050272, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 73.321039, "energy": 80.02314, "activity_lines": [ 24.010154, 23.769227, 23.539092, 23.330509 ] }, { "date": "2026-01-09", "close": 24.5792, "volume": 32947, "typical_volume": 35185.75, "trend": 23.125617, "fair_value": 23.502316, "relative_strength": -5.467749, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 80.77411, "energy": 80.42884, "activity_lines": [ 24.238127, 23.948515, 23.658169, 23.429283 ] }, { "date": "2026-01-16", "close": 24.66, "volume": 117700, "typical_volume": 40070.15, "trend": 23.210875, "fair_value": 23.515472, "relative_strength": -4.564179, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 77.771204, "energy": 80.818758, "activity_lines": [ 24.425691, 24.120381, 23.776815, 23.528275 ] }, { "date": "2026-01-23", "close": 25.0149, "volume": 28966, "typical_volume": 38775.85, "trend": 23.295335, "fair_value": 23.532319, "relative_strength": -2.663625, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 81.791994, "energy": 79.826343, "activity_lines": [ 24.665153, 24.329493, 23.91956, 23.644664 ] }, { "date": "2026-01-30", "close": 25.0094, "volume": 21968, "typical_volume": 34915.7, "trend": 23.376271, "fair_value": 23.548731, "relative_strength": -2.849812, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 75.059328, "energy": 72.45096, "activity_lines": [ 24.825007, 24.505222, 24.050287, 23.755249 ] }, { "date": "2026-02-06", "close": 25.5629, "volume": 9380, "typical_volume": 32636.1, "trend": 23.472335, "fair_value": 23.570865, "relative_strength": -0.345049, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 83.933729, "energy": 84.574739, "activity_lines": [ 25.119733, 24.746915, 24.223876, 23.896321 ] }, { "date": "2026-02-13", "close": 25.6072, "volume": 11776, "typical_volume": 32007.15, "trend": 23.572868, "fair_value": 23.592999, "relative_strength": 1.237554, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 78.007436, "energy": 78.522027, "activity_lines": [ 25.333707, 24.9609, 24.389619, 24.034055 ] }, { "date": "2026-02-20", "close": 26.03, "volume": 16137, "typical_volume": 31859.65, "trend": 23.680511, "fair_value": 23.619203, "relative_strength": 1.876827, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 82.393041, "energy": 82.503146, "activity_lines": [ 25.62008, 25.214701, 24.583304, 24.192579 ] }, { "date": "2026-02-27", "close": 26.4165, "volume": 211233, "typical_volume": 41681.2, "trend": 23.822393, "fair_value": 23.648962, "relative_strength": 3.978534, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 84.568006, "energy": 89.379322, "activity_lines": [ 25.943953, 25.495756, 24.801614, 24.369095 ] }, { "date": "2026-03-06", "close": 25.5895, "volume": 22740, "typical_volume": 41865.1, "trend": 23.925138, "fair_value": 23.669389, "relative_strength": 2.904501, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 66.036392, "energy": 61.269611, "activity_lines": [ 25.89872, 25.579753, 24.925089, 24.483102 ] }, { "date": "2026-03-13", "close": 25.5218, "volume": 44375, "typical_volume": 43534.25, "trend": 24.018977, "fair_value": 23.688684, "relative_strength": 4.355164, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 62.917624, "energy": 54.482943, "activity_lines": [ 25.792247, 25.627358, 25.032029, 24.586112 ] }, { "date": "2026-03-20", "close": 25.205, "volume": 74300, "typical_volume": 42829.7, "trend": 24.096717, "fair_value": 23.704317, "relative_strength": 5.097571, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 48.203328, "energy": 39.167073, "activity_lines": [ 25.582913, 25.59206, 25.099541, 24.66263 ] }, { "date": "2026-03-27", "close": 25.215, "volume": 46648, "typical_volume": 42379.15, "trend": 24.183127, "fair_value": 23.719732, "relative_strength": 7.670679, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 40.787536, "energy": 25.998537, "activity_lines": [ 25.403727, 25.547202, 25.159234, 24.734777 ] }, { "date": "2026-04-03", "close": 25.3848, "volume": 22547, "typical_volume": 43130.7, "trend": 24.275915, "fair_value": 23.736551, "relative_strength": 5.10673, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 36.415589, "energy": 20.554171, "activity_lines": [ 25.335473, 25.523125, 25.22531, 24.812304 ] }, { "date": "2026-04-10", "close": 25.39, "volume": 29345, "typical_volume": 41995.05, "trend": 24.357567, "fair_value": 23.753085, "relative_strength": 1.73436, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 34.655058, "energy": 20.535932, "activity_lines": [ 25.337733, 25.493269, 25.281638, 24.884181 ] }, { "date": "2026-04-17", "close": 25.205, "volume": 16130, "typical_volume": 41902.55, "trend": 24.430092, "fair_value": 23.76746, "relative_strength": -2.978757, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 33.011245, "energy": 18.1718, "activity_lines": [ 25.291627, 25.422856, 25.309454, 24.938854 ] }, { "date": "2026-04-24", "close": 25.5865, "volume": 4826, "typical_volume": 39038.8, "trend": 24.515677, "fair_value": 23.785294, "relative_strength": -1.76387, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 42.050485, "energy": 24.554162, "activity_lines": [ 25.393807, 25.428315, 25.365942, 25.013461 ] }, { "date": "2026-05-01", "close": 25.825, "volume": 17015, "typical_volume": 39235.1, "trend": 24.594128, "fair_value": 23.805097, "relative_strength": -1.579225, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 59.715298, "energy": 35.424356, "activity_lines": [ 25.550053, 25.477513, 25.435537, 25.097933 ] }, { "date": "2026-05-08", "close": 25.9783, "volume": 7303, "typical_volume": 38981.05, "trend": 24.69204, "fair_value": 23.825993, "relative_strength": -3.02841, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 64.31726, "energy": 43.507199, "activity_lines": [ 25.716733, 25.558311, 25.509441, 25.187235 ] }, { "date": "2026-05-15", "close": 26.495, "volume": 5654, "typical_volume": 37414.95, "trend": 24.792831, "fair_value": 23.851412, "relative_strength": -1.213848, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 78.867426, "energy": 74.340998, "activity_lines": [ 26.01608, 25.741022, 25.622412, 25.303555 ] }, { "date": "2026-05-22", "close": 26.195, "volume": 15021, "typical_volume": 37800.55, "trend": 24.880073, "fair_value": 23.873522, "relative_strength": -2.975735, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 65.540288, "energy": 73.071897, "activity_lines": [ 26.14176, 25.852724, 25.696193, 25.394017 ] }, { "date": "2026-05-29", "close": 25.845, "volume": 4907, "typical_volume": 36398.55, "trend": 24.962805, "fair_value": 23.891947, "relative_strength": -5.431352, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 61.830282, "energy": 65.207134, "activity_lines": [ 26.084773, 25.888549, 25.726807, 25.456271 ] }, { "date": "2026-06-05", "close": 25.7105, "volume": 28106, "typical_volume": 31918.85, "trend": 25.047837, "fair_value": 23.908785, "relative_strength": -3.358594, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 58.048232, "energy": 45.162205, "activity_lines": [ 25.96572, 25.888284, 25.738584, 25.504509 ] }, { "date": "2026-06-12", "close": 25.795, "volume": 13022, "typical_volume": 31121.65, "trend": 25.13321, "fair_value": 23.92609, "relative_strength": -3.438988, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 42.160713, "energy": 27.684753, "activity_lines": [ 25.882467, 25.894373, 25.753407, 25.552713 ] }, { "date": "2026-06-19", "close": 26.04, "volume": 9778, "typical_volume": 30512.15, "trend": 25.231131, "fair_value": 23.945307, "relative_strength": -3.278739, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 45.898334, "energy": 25.284999, "activity_lines": [ 25.8931, 25.937549, 25.787848, 25.611216 ] }, { "date": "2026-06-26", "close": 25.4833, "volume": 2916, "typical_volume": 30188.95, "trend": 25.29404, "fair_value": 23.959163, "relative_strength": -2.937901, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 24.070812, "energy": 15.343359, "activity_lines": [ 25.7485, 25.867689, 25.764362, 25.627485 ] }, { "date": "2026-07-03", "close": 25.4914, "volume": 11365, "typical_volume": 30168.4, "trend": 25.358118, "fair_value": 23.972844, "relative_strength": -4.849523, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 16.378211, "energy": 13.772964, "activity_lines": [ 25.654047, 25.794242, 25.742027, 25.640217 ] }, { "date": "2026-07-10", "close": 25.6836, "volume": 2695, "typical_volume": 29496.3, "trend": 25.425439, "fair_value": 23.987983, "relative_strength": -5.284219, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 23.346838, "energy": 15.593778, "activity_lines": [ 25.647233, 25.757469, 25.738548, 25.661216 ] }, { "date": "2026-07-17", "close": 25.6199, "volume": 11957, "typical_volume": 19532.5, "trend": 25.484493, "fair_value": 24.002298, "relative_strength": -3.937903, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 9.533077, "energy": 14.364903, "activity_lines": [ 25.62098, 25.711685, 25.730651, 25.673762 ] }, { "date": "2026-07-24", "close": 26.0204, "volume": 21073, "typical_volume": 19449.15, "trend": 25.543007, "fair_value": 24.019847, "relative_strength": -1.809495, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 30.25635, "energy": 12.687405, "activity_lines": [ 25.7399, 25.745236, 25.764691, 25.708337 ] }, { "date": "2026-07-31", "close": 25.8382, "volume": 29575, "typical_volume": 18709.15, "trend": 25.599943, "fair_value": 24.035522, "relative_strength": -3.479258, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 30.876381, "energy": 16.417458, "activity_lines": [ 25.799393, 25.754289, 25.779327, 25.727382 ] }, { "date": "2026-08-07", "close": 25.7174, "volume": 13305, "typical_volume": 15659.4, "trend": 25.637883, "fair_value": 24.049898, "relative_strength": -7.066877, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 27.397011, "energy": 15.339404, "activity_lines": [ 25.79496, 25.747865, 25.780951, 25.734959 ] } ], "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." } } }