{ "ticker": { "uuid": "25577814-de94-4b9c-93bb-c220c982e7f1", "symbol": "AMT", "name": "American Tower Corp", "exchange": "NYSE", "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": "SPY", "stage": 4, "stage_name": "Declining", "phase": "4a", "phase_label": "Stage 4A \u00b7 Breakdown", "transition": "stage_4_declining", "transition_label": "Stage 4 decline intact", "confidence": 52.867, "architecture_regime": "downward_expansion", "architecture_regime_label": "Downward Expansion", "architecture_modifier": "Early contraction", "architecture_gate": "down", "architecture_direction": -49.183, "architecture_energy": 27.383, "architecture_maturity": 9.925, "architecture_confidence": 88.58, "architecture_tenure": "New", "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": 49.34, "rotation_up": 17.45, "upward_expansion": 2.38, "deceleration": 52.74, "rotation_down": 47.32, "downward_expansion": 73.38 }, "activity_lines": [ 170.990667, 171.786568, 174.845694, 175.780929 ], "activity_state": "Compressed", "activity_direction": "Contracting", "rotation_direction": "Weakening", "price_acceptance": -0.5 }, "latest_close": 172.54, "trend_reference": 176.908895, "distance_from_trend": -0.024696, "trend_direction": "Improving", "fair_value": 185.137777, "distance_from_fair_value": -0.068045, "fair_value_direction": "Weakening", "relative_strength": -14.192818, "relative_strength_direction": "Improving", "price_momentum": 0.027369, "excess_performance": -0.098256, "evidence": [ { "label": "Price vs Trend", "positive": false, "value": -0.024696, "read": "Below" }, { "label": "Trend direction", "positive": true, "value": 0.004197, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": false, "value": -0.068045, "read": "Below anchor" }, { "label": "Fair Value direction", "positive": false, "value": -0.01502, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.141928, "read": "Lagging" }, { "label": "Relative strength direction", "positive": true, "value": 0.030927, "read": "Improving" }, { "label": "Price momentum", "positive": true, "value": 0.027369, "read": "Positive" }, { "label": "Volume balance", "positive": false, "value": 0.836204, "read": "Supply-led" } ], "volume": { "latest": 15247725, "relative_activity": 0.975973, "balance": 0.836204, "dry_up": 1.010695, "accumulation_observations": 4, "distribution_observations": 3 }, "risk": { "range_context": 0.063697, "annualized_volatility": 0.286517, "from_high_reference": -0.165561, "from_low_reference": 0.077971 }, "levels": { "trend_reference": 176.908895, "fair_value_reference": 185.137777, "structural_low": 160.06, "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": 26, "median_return": 0.021098, "positive_rate": 0.615385, "directional_follow_through": 0.384615, "median_excess_return": -0.004878, "regime_survival": 0.730769, "best_return": 0.201744, "worst_return": -0.063696, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 10, "median_return": -0.023875, "positive_rate": 0.4, "directional_follow_through": 0.6, "median_excess_return": 0.048025, "regime_survival": 0.5, "best_return": 0.264212, "worst_return": -0.130454, "sufficient": true }, { "horizon": "Extended", "sample_count": 7, "median_return": 0.09154, "positive_rate": 0.714286, "directional_follow_through": 0.285714, "median_excess_return": -0.074744, "regime_survival": 0.285714, "best_return": 0.234044, "worst_return": -0.178168, "sufficient": true }, { "horizon": "Full cycle", "sample_count": 3, "median_return": 0.120673, "positive_rate": 0.666667, "directional_follow_through": 0.333333, "median_excess_return": -0.014201, "regime_survival": 0.0, "best_return": 0.133035, "worst_return": -0.081335, "sufficient": false } ], "ledger": [ { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-03-07", "end": "2025-03-14", "tenure": "New", "return": -0.006406, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2025-03-21", "end": "2025-04-25", "tenure": "Developing", "return": -0.017246, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-05-02", "end": "2025-05-30", "tenure": "Developing", "return": -0.040027, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2025-06-06", "end": "2025-06-27", "tenure": "New", "return": 0.032764, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-07-04", "end": "2025-08-08", "tenure": "Developing", "return": -0.068726, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-08-15", "end": "2025-08-29", "tenure": "New", "return": -0.011013, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2025-09-05", "end": "2025-09-19", "tenure": "New", "return": -0.025262, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-09-26", "end": "2026-02-13", "tenure": "Established", "return": 0.007216, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-02-20", "end": "2026-02-27", "tenure": "New", "return": 0.024291, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2026-03-06", "end": "2026-03-20", "tenure": "New", "return": -0.06257, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-03-27", "end": "2026-06-05", "tenure": "Developing", "return": 0.156735, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-06-12", "end": "2026-06-26", "tenure": "New", "return": -0.061919, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-07-03", "end": "2026-07-24", "tenure": "New", "return": 0.003855, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2026-07-31", "end": "2026-08-07", "tenure": "New", "return": -0.00473, "active": true } ], "chart_path": [ { "date": "2023-08-18", "close": 158.825079, "volume": 8911729, "typical_volume": 10216435.45, "trend": 176.146885, "fair_value": 205.638962, "relative_strength": -20.414173, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -69.206487, "energy": 54.288292, "activity_lines": [ 164.890646, 167.872859, 169.900685, 172.251209 ] }, { "date": "2023-08-25", "close": 159.797202, "volume": 7543102, "typical_volume": 10111522.25, "trend": 174.9503, "fair_value": 205.322765, "relative_strength": -19.854673, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -67.09456, "energy": 63.363417, "activity_lines": [ 162.817984, 166.084579, 168.669771, 171.196391 ] }, { "date": "2023-09-01", "close": 162.731573, "volume": 8034510, "typical_volume": 10062696.0, "trend": 173.814005, "fair_value": 205.023284, "relative_strength": -19.707296, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -58.096719, "energy": 58.648797, "activity_lines": [ 162.165101, 165.081197, 167.829751, 170.408086 ] }, { "date": "2023-09-08", "close": 162.821584, "volume": 8078877, "typical_volume": 10026185.55, "trend": 172.838479, "fair_value": 204.7254, "relative_strength": -17.917974, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -56.681576, "energy": 56.354847, "activity_lines": [ 162.033085, 164.179938, 167.103066, 169.698897 ] }, { "date": "2023-09-15", "close": 162.146499, "volume": 9332814, "typical_volume": 10078893.1, "trend": 172.031309, "fair_value": 204.446231, "relative_strength": -17.443389, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -53.621931, "energy": 41.918157, "activity_lines": [ 161.908869, 163.369508, 166.404728, 169.009092 ] }, { "date": "2023-09-22", "close": 149.607914, "volume": 11230073, "typical_volume": 10192580.0, "trend": 171.235469, "fair_value": 204.111123, "relative_strength": -20.834252, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -76.720112, "energy": 56.614317, "activity_lines": [ 158.023378, 160.531531, 164.609157, 167.562421 ] }, { "date": "2023-09-29", "close": 148.023713, "volume": 13786037, "typical_volume": 10467030.2, "trend": 170.186805, "fair_value": 203.747027, "relative_strength": -20.482632, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -75.920359, "energy": 70.294084, "activity_lines": [ 154.224297, 157.85983, 162.786851, 166.064889 ] }, { "date": "2023-10-06", "close": 143.631158, "volume": 9426569, "typical_volume": 10520870.4, "trend": 169.323509, "fair_value": 203.347326, "relative_strength": -22.716983, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -77.780892, "energy": 80.84081, "activity_lines": [ 149.745931, 154.723997, 160.692944, 164.351621 ] }, { "date": "2023-10-13", "close": 151.818433, "volume": 11263062, "typical_volume": 10543466.65, "trend": 168.435313, "fair_value": 203.010684, "relative_strength": -18.274168, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -62.230566, "energy": 73.448218, "activity_lines": [ 149.270018, 153.557911, 159.505783, 163.222262 ] }, { "date": "2023-10-20", "close": 145.571472, "volume": 10756450, "typical_volume": 10364105.75, "trend": 167.389996, "fair_value": 202.660981, "relative_strength": -19.350315, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -68.419325, "energy": 73.530504, "activity_lines": [ 147.445327, 151.519571, 157.775339, 161.747175 ] }, { "date": "2023-10-27", "close": 156.392264, "volume": 14883710, "typical_volume": 10727958.4, "trend": 166.565922, "fair_value": 202.424191, "relative_strength": -10.779512, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -59.649495, "energy": 45.679684, "activity_lines": [ 150.332569, 151.86408, 157.194999, 161.037644 ] }, { "date": "2023-11-03", "close": 173.287248, "volume": 13605765, "typical_volume": 10822964.2, "trend": 166.235584, "fair_value": 202.228247, "relative_strength": -6.23965, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -11.419309, "energy": 12.182973, "activity_lines": [ 158.399182, 155.324638, 158.275359, 161.471278 ] }, { "date": "2023-11-10", "close": 167.122124, "volume": 8623770, "typical_volume": 10710557.4, "trend": 165.648601, "fair_value": 201.987709, "relative_strength": -10.297569, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -12.370417, "energy": 19.036207, "activity_lines": [ 162.726519, 157.41899, 158.770164, 161.528474 ] }, { "date": "2023-11-17", "close": 179.807002, "volume": 13992916, "typical_volume": 10780063.4, "trend": 165.566296, "fair_value": 201.884771, "relative_strength": -5.287353, "stage": 1, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "mixed", "direction": 37.474089, "energy": 39.694377, "activity_lines": [ 169.716083, 161.739856, 160.474604, 162.441919 ] }, { "date": "2023-11-24", "close": 181.243712, "volume": 5942244, "typical_volume": 10747883.2, "trend": 165.52444, "fair_value": 201.783325, "relative_strength": -5.082444, "stage": 1, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 37.238472, "energy": 47.931025, "activity_lines": [ 175.318647, 166.013116, 162.290927, 163.453365 ] }, { "date": "2023-12-01", "close": 191.382521, "volume": 12600698, "typical_volume": 10967347.9, "trend": 166.047936, "fair_value": 201.77612, "relative_strength": -0.305157, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 47.564704, "energy": 71.454919, "activity_lines": [ 181.922664, 171.782573, 165.047963, 165.121629 ] }, { "date": "2023-12-08", "close": 187.727094, "volume": 10620631, "typical_volume": 10524888.4, "trend": 166.344222, "fair_value": 201.793242, "relative_strength": -2.091509, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "up", "direction": 73.560295, "energy": 82.55866, "activity_lines": [ 184.975521, 176.127869, 167.376923, 166.520284 ] }, { "date": "2023-12-15", "close": 192.910162, "volume": 13123550, "typical_volume": 10500209.25, "trend": 167.097814, "fair_value": 201.834415, "relative_strength": -1.35247, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 76.01184, "energy": 83.327742, "activity_lines": [ 188.793412, 180.693662, 170.098055, 168.234216 ] }, { "date": "2023-12-22", "close": 195.674465, "volume": 9363909, "typical_volume": 10444727.4, "trend": 168.198026, "fair_value": 201.902266, "relative_strength": -0.472512, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 76.287535, "energy": 84.454696, "activity_lines": [ 191.813534, 184.866073, 172.973808, 170.077871 ] }, { "date": "2023-12-29", "close": 197.841725, "volume": 5604083, "typical_volume": 10336224.95, "trend": 169.103503, "fair_value": 201.952482, "relative_strength": 0.662202, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 75.096211, "energy": 81.851884, "activity_lines": [ 194.498245, 188.635149, 175.916156, 171.990367 ] }, { "date": "2024-01-05", "close": 196.375416, "volume": 7004610, "typical_volume": 10240869.0, "trend": 170.074691, "fair_value": 202.005563, "relative_strength": 1.906458, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 69.456869, "energy": 76.49745, "activity_lines": [ 195.587653, 191.187256, 178.578753, 173.749846 ] }, { "date": "2024-01-12", "close": 191.930667, "volume": 9406127, "typical_volume": 10334020.25, "trend": 170.684948, "fair_value": 202.042686, "relative_strength": -1.665184, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 65.128973, "energy": 61.447008, "activity_lines": [ 194.862618, 192.204259, 180.63923, 175.159909 ] }, { "date": "2024-01-19", "close": 186.835244, "volume": 9896890, "typical_volume": 10427139.25, "trend": 171.331184, "fair_value": 202.025279, "relative_strength": -4.898483, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 61.148211, "energy": 49.264557, "activity_lines": [ 192.15887, 191.955851, 182.061411, 176.201863 ] }, { "date": "2024-01-26", "close": 180.805049, "volume": 11815364, "typical_volume": 10613963.6, "trend": 171.539084, "fair_value": 201.950549, "relative_strength": -8.394229, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 45.173158, "energy": 32.932275, "activity_lines": [ 187.850052, 190.252624, 182.794509, 176.81308 ] }, { "date": "2024-02-02", "close": 177.340894, "volume": 12963186, "typical_volume": 10795482.2, "trend": 171.583205, "fair_value": 201.823063, "relative_strength": -10.877939, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 35.887433, "energy": 29.211199, "activity_lines": [ 183.37781, 187.901403, 183.112052, 177.187391 ] }, { "date": "2024-02-09", "close": 178.193186, "volume": 10426730, "typical_volume": 10755315.05, "trend": 171.703142, "fair_value": 201.732514, "relative_strength": -11.153847, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 27.652046, "energy": 30.245983, "activity_lines": [ 180.556387, 185.776105, 183.438411, 177.613841 ] }, { "date": "2024-02-16", "close": 171.493987, "volume": 11459900, "typical_volume": 10639008.2, "trend": 171.872207, "fair_value": 201.60347, "relative_strength": -13.701764, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -7.099709, "energy": 26.299513, "activity_lines": [ 176.714047, 182.672578, 182.990631, 177.600347 ] }, { "date": "2024-02-23", "close": 174.060028, "volume": 7712469, "typical_volume": 10553303.2, "trend": 172.004391, "fair_value": 201.546441, "relative_strength": -13.423585, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -0.980969, "energy": 25.231205, "activity_lines": [ 175.089499, 180.33075, 182.675473, 177.741497 ] }, { "date": "2024-03-01", "close": 184.901549, "volume": 20192471, "typical_volume": 10999773.65, "trend": 172.623975, "fair_value": 201.646437, "relative_strength": -8.52639, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 13.060354, "energy": 19.297523, "activity_lines": [ 177.930472, 180.302838, 183.247941, 178.573572 ] }, { "date": "2024-03-08", "close": 189.987808, "volume": 11428965, "typical_volume": 11033399.4, "trend": 173.342892, "fair_value": 201.696555, "relative_strength": -5.45777, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 41.307137, "energy": 18.89867, "activity_lines": [ 182.193765, 181.395571, 184.147276, 179.693819 ] }, { "date": "2024-03-15", "close": 180.850871, "volume": 10754853, "typical_volume": 10826956.55, "trend": 174.077085, "fair_value": 201.651965, "relative_strength": -9.468434, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 29.486547, "energy": 20.58432, "activity_lines": [ 182.568285, 180.969842, 183.96492, 180.178205 ] }, { "date": "2024-03-22", "close": 176.681055, "volume": 10692092, "typical_volume": 10681272.9, "trend": 174.639881, "fair_value": 201.488613, "relative_strength": -12.997482, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 18.021024, "energy": 17.307918, "activity_lines": [ 181.375687, 180.068228, 183.268969, 180.346203 ] }, { "date": "2024-03-29", "close": 181.079981, "volume": 8632910, "typical_volume": 10681729.9, "trend": 175.251494, "fair_value": 201.346732, "relative_strength": -10.695911, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 26.903665, "energy": 16.682113, "activity_lines": [ 181.303594, 180.243686, 182.975803, 180.761693 ] }, { "date": "2024-04-05", "close": 174.279974, "volume": 11307638, "typical_volume": 10547466.0, "trend": 175.63344, "fair_value": 201.159469, "relative_strength": -12.769343, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -0.577011, "energy": 9.500628, "activity_lines": [ 178.496834, 179.287419, 181.968551, 180.699014 ] }, { "date": "2024-04-12", "close": 165.715886, "volume": 15919367, "typical_volume": 11046322.15, "trend": 175.75242, "fair_value": 200.865723, "relative_strength": -15.275458, "stage": 3, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -35.137413, "energy": 42.657797, "activity_lines": [ 173.543483, 176.892683, 180.17199, 180.059172 ] }, { "date": "2024-04-19", "close": 158.41033, "volume": 14288460, "typical_volume": 11130710.25, "trend": 176.045834, "fair_value": 200.495585, "relative_strength": -15.900482, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -54.234357, "energy": 66.384095, "activity_lines": [ 167.773076, 173.381028, 177.753605, 178.940327 ] }, { "date": "2024-04-26", "close": 158.770984, "volume": 11855817, "typical_volume": 11192469.55, "trend": 176.404076, "fair_value": 200.123776, "relative_strength": -17.326581, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -50.910121, "energy": 73.332344, "activity_lines": [ 163.618922, 170.294635, 175.526578, 177.825821 ] }, { "date": "2024-05-03", "close": 168.06476, "volume": 16112015, "typical_volume": 11341892.8, "trend": 177.21853, "fair_value": 199.85125, "relative_strength": -12.546304, "stage": 1, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -36.525501, "energy": 66.436878, "activity_lines": [ 163.756698, 169.129346, 174.322558, 177.287801 ] }, { "date": "2024-05-10", "close": 170.607833, "volume": 12653314, "typical_volume": 11506363.05, "trend": 177.844843, "fair_value": 199.599008, "relative_strength": -12.342773, "stage": 1, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -60.956547, "energy": 64.837376, "activity_lines": [ 165.609847, 168.53544, 173.479048, 176.861304 ] }, { "date": "2024-05-17", "close": 179.873867, "volume": 11440637, "typical_volume": 11798190.75, "trend": 178.988256, "fair_value": 199.388764, "relative_strength": -8.741991, "stage": 1, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -33.184406, "energy": 23.406339, "activity_lines": [ 170.796483, 169.886152, 173.637382, 176.992209 ] }, { "date": "2024-05-24", "close": 171.939479, "volume": 7968632, "typical_volume": 11846391.85, "trend": 179.506497, "fair_value": 199.097605, "relative_strength": -12.457533, "stage": 1, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -32.863029, "energy": 21.138821, "activity_lines": [ 172.394458, 169.978138, 173.125621, 176.537449 ] }, { "date": "2024-05-31", "close": 181.011314, "volume": 13988609, "typical_volume": 12075515.95, "trend": 179.763966, "fair_value": 198.81104, "relative_strength": -7.181312, "stage": 1, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -11.858043, "energy": 19.191614, "activity_lines": [ 176.114434, 171.881575, 173.594206, 176.634534 ] }, { "date": "2024-06-07", "close": 179.642678, "volume": 11315937, "typical_volume": 12146468.3, "trend": 180.181317, "fair_value": 198.498956, "relative_strength": -8.751945, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -11.493596, "energy": 21.227541, "activity_lines": [ 177.89551, 173.457436, 173.984442, 176.626709 ] }, { "date": "2024-06-14", "close": 183.702348, "volume": 12452598, "typical_volume": 12178330.0, "trend": 180.311162, "fair_value": 198.219206, "relative_strength": -7.904965, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": 7.071017, "energy": 20.763467, "activity_lines": [ 180.257948, 175.797552, 174.795563, 176.853872 ] }, { "date": "2024-06-21", "close": 181.669809, "volume": 9261192, "typical_volume": 11993230.3, "trend": 180.325365, "fair_value": 197.923138, "relative_strength": -9.229484, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 21.369118, "energy": 27.629812, "activity_lines": [ 181.069905, 177.596799, 175.399312, 176.941527 ] }, { "date": "2024-06-28", "close": 181.231601, "volume": 8978520, "typical_volume": 11920819.8, "trend": 179.987001, "fair_value": 197.589574, "relative_strength": -9.084638, "stage": 1, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 18.158829, "energy": 29.082187, "activity_lines": [ 181.616064, 179.026301, 175.940714, 176.999994 ] }, { "date": "2024-07-05", "close": 182.406371, "volume": 5806459, "typical_volume": 11638147.75, "trend": 179.809644, "fair_value": 197.232962, "relative_strength": -9.844576, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 21.238459, "energy": 29.928277, "activity_lines": [ 181.934337, 180.254466, 176.579529, 177.156082 ] }, { "date": "2024-07-12", "close": 196.363759, "volume": 9157744, "typical_volume": 11710411.5, "trend": 179.924764, "fair_value": 196.943846, "relative_strength": -3.65274, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 53.84916, "energy": 53.681291, "activity_lines": [ 186.81207, 183.590603, 178.495656, 178.224089 ] }, { "date": "2024-07-19", "close": 195.925551, "volume": 7815079, "typical_volume": 11091541.9, "trend": 179.933133, "fair_value": 196.636577, "relative_strength": -1.856851, "stage": 2, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 49.740331, "energy": 63.137043, "activity_lines": [ 190.428994, 186.332538, 180.263841, 179.256398 ] }, { "date": "2024-07-26", "close": 199.26339, "volume": 7997697, "typical_volume": 10919978.5, "trend": 179.980522, "fair_value": 196.364185, "relative_strength": 0.710577, "stage": 2, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "up", "direction": 77.205153, "energy": 79.548889, "activity_lines": [ 194.343652, 189.221031, 182.297419, 180.503512 ] }, { "date": "2024-08-02", "close": 218.768303, "volume": 14777588, "typical_volume": 11121115.25, "trend": 180.726952, "fair_value": 196.220552, "relative_strength": 12.765716, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 92.621642, "energy": 93.873081, "activity_lines": [ 203.587041, 195.303335, 186.14444, 183.005949 ] }, { "date": "2024-08-09", "close": 207.533399, "volume": 15482305, "typical_volume": 11360625.9, "trend": 181.247043, "fair_value": 196.000515, "relative_strength": 6.92186, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 70.71663, "energy": 86.310091, "activity_lines": [ 206.583016, 198.491497, 188.74091, 184.735397 ] }, { "date": "2024-08-16", "close": 204.97874, "volume": 13063961, "typical_volume": 11582178.45, "trend": 181.851826, "fair_value": 195.720811, "relative_strength": 1.539501, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 67.017556, "energy": 83.633409, "activity_lines": [ 207.052302, 200.732955, 190.947163, 186.266475 ] }, { "date": "2024-08-23", "close": 211.645094, "volume": 8886145, "typical_volume": 11461103.8, "trend": 182.879828, "fair_value": 195.512994, "relative_strength": 3.338563, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 72.930815, "energy": 83.635042, "activity_lines": [ 209.169375, 203.725821, 193.674503, 188.188621 ] }, { "date": "2024-08-30", "close": 208.903964, "volume": 6969566, "typical_volume": 11013613.75, "trend": 183.93193, "fair_value": 195.197132, "relative_strength": 1.693588, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 64.20447, "energy": 60.122042, "activity_lines": [ 209.324768, 205.712251, 195.962855, 189.867597 ] }, { "date": "2024-09-06", "close": 220.185486, "volume": 9656385, "typical_volume": 10782010.0, "trend": 185.331673, "fair_value": 194.998138, "relative_strength": 11.593978, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 81.085531, "energy": 66.630734, "activity_lines": [ 212.597963, 209.2547, 199.119979, 192.206536 ] }, { "date": "2024-09-13", "close": 222.367202, "volume": 10204499, "typical_volume": 10699444.1, "trend": 187.027447, "fair_value": 194.813843, "relative_strength": 8.209348, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 78.356354, "energy": 72.03344, "activity_lines": [ 216.503918, 212.485572, 202.190719, 194.595925 ] }, { "date": "2024-09-20", "close": 219.159894, "volume": 12727054, "typical_volume": 10530196.05, "trend": 188.530776, "fair_value": 194.672391, "relative_strength": 4.970768, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 66.326535, "energy": 61.573305, "activity_lines": [ 218.351851, 214.406736, 204.653161, 196.668987 ] }, { "date": "2024-09-27", "close": 214.74052, "volume": 10188896, "typical_volume": 10406975.15, "trend": 189.525408, "fair_value": 194.580949, "relative_strength": 2.141884, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 63.870129, "energy": 58.16057, "activity_lines": [ 217.781248, 215.109903, 206.451401, 198.359938 ] }, { "date": "2024-10-04", "close": 208.531021, "volume": 10299840, "typical_volume": 10349935.3, "trend": 190.143515, "fair_value": 194.474645, "relative_strength": -1.202308, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 58.725367, "energy": 46.648287, "activity_lines": [ 214.93445, 214.34198, 207.448104, 199.586106 ] }, { "date": "2024-10-11", "close": 205.938061, "volume": 8401283, "typical_volume": 10371567.85, "trend": 190.979755, "fair_value": 194.3118, "relative_strength": -3.535394, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 43.962724, "energy": 31.059419, "activity_lines": [ 211.248196, 212.934107, 208.061396, 200.605109 ] }, { "date": "2024-10-18", "close": 212.540627, "volume": 8793858, "typical_volume": 10111830.3, "trend": 192.175074, "fair_value": 194.108027, "relative_strength": -1.364181, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 38.828176, "energy": 23.081618, "activity_lines": [ 210.712625, 212.959978, 209.141606, 201.996133 ] }, { "date": "2024-10-25", "close": 209.253432, "volume": 9652657, "typical_volume": 10028666.3, "trend": 193.114189, "fair_value": 193.896838, "relative_strength": -1.832941, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 34.342606, "energy": 21.407651, "activity_lines": [ 209.736428, 212.297136, 209.758609, 203.097963 ] }, { "date": "2024-11-01", "close": 198.415081, "volume": 11915303, "typical_volume": 10001801.55, "trend": 193.918693, "fair_value": 193.638967, "relative_strength": -5.333647, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 13.926664, "energy": 16.122995, "activity_lines": [ 205.807877, 209.585963, 209.202386, 203.439956 ] }, { "date": "2024-11-08", "close": 189.530263, "volume": 20676203, "typical_volume": 10572552.1, "trend": 194.712505, "fair_value": 193.355693, "relative_strength": -13.370088, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -14.125332, "energy": 22.232081, "activity_lines": [ 200.006083, 205.499915, 207.729929, 203.156831 ] }, { "date": "2024-11-15", "close": 184.505551, "volume": 12877678, "typical_volume": 10767510.0, "trend": 195.582346, "fair_value": 193.101436, "relative_strength": -13.469471, "stage": 3, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -40.103671, "energy": 45.623051, "activity_lines": [ 193.796103, 200.852532, 205.741496, 202.498318 ] }, { "date": "2024-11-22", "close": 191.887651, "volume": 11110861, "typical_volume": 11032730.1, "trend": 196.686235, "fair_value": 192.884094, "relative_strength": -11.100706, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -24.302972, "energy": 51.883222, "activity_lines": [ 191.475656, 198.196075, 204.440531, 202.259951 ] }, { "date": "2024-11-29", "close": 196.292492, "volume": 8677056, "typical_volume": 11008695.7, "trend": 197.627159, "fair_value": 192.672469, "relative_strength": -9.658781, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -23.643889, "energy": 51.766739, "activity_lines": [ 192.000355, 196.894671, 203.513926, 202.234548 ] }, { "date": "2024-12-06", "close": 194.508015, "volume": 12424574, "typical_volume": 11239170.45, "trend": 198.423832, "fair_value": 192.418515, "relative_strength": -10.810316, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -22.018926, "energy": 40.150162, "activity_lines": [ 192.794291, 195.684589, 202.417709, 202.033313 ] }, { "date": "2024-12-13", "close": 185.172382, "volume": 11782641, "typical_volume": 11428417.65, "trend": 198.600449, "fair_value": 192.070084, "relative_strength": -14.08578, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -41.931622, "energy": 35.108796, "activity_lines": [ 190.73682, 193.144982, 200.439135, 201.178381 ] }, { "date": "2024-12-20", "close": 172.558945, "volume": 19503067, "typical_volume": 11664691.6, "trend": 198.621098, "fair_value": 191.633804, "relative_strength": -17.882221, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -54.453882, "energy": 53.110042, "activity_lines": [ 184.765396, 188.736725, 197.326382, 199.498283 ] }, { "date": "2024-12-27", "close": 172.333538, "volume": 6488250, "typical_volume": 11214988.85, "trend": 198.331839, "fair_value": 191.119938, "relative_strength": -17.935745, "stage": 4, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -77.588755, "energy": 79.92437, "activity_lines": [ 179.515276, 184.894379, 194.412205, 197.802312 ] }, { "date": "2025-01-03", "close": 172.987357, "volume": 8962835, "typical_volume": 11009932.55, "trend": 198.109995, "fair_value": 190.753693, "relative_strength": -16.59494, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -72.111464, "energy": 85.032953, "activity_lines": [ 175.786703, 181.901947, 191.727916, 196.167184 ] }, { "date": "2025-01-10", "close": 164.364521, "volume": 9946338, "typical_volume": 11062942.2, "trend": 197.465401, "fair_value": 190.42049, "relative_strength": -18.6312, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -81.190333, "energy": 91.193733, "activity_lines": [ 170.737528, 178.001109, 188.374743, 193.990057 ] }, { "date": "2025-01-17", "close": 180.406786, "volume": 13192431, "typical_volume": 11374085.45, "trend": 197.4233, "fair_value": 190.222548, "relative_strength": -12.808282, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -65.654108, "energy": 75.892248, "activity_lines": [ 173.04534, 177.636148, 186.774552, 192.889501 ] }, { "date": "2025-01-24", "close": 175.375219, "volume": 8116776, "typical_volume": 11297105.0, "trend": 197.228087, "fair_value": 189.98123, "relative_strength": -16.282923, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -62.423, "energy": 53.509706, "activity_lines": [ 173.99367, 176.522238, 184.830864, 191.467044 ] }, { "date": "2025-01-31", "close": 175.252036, "volume": 9622365, "typical_volume": 11267998.3, "trend": 196.989609, "fair_value": 189.741003, "relative_strength": -15.145222, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -59.430795, "energy": 48.392678, "activity_lines": [ 174.713188, 175.551937, 183.088826, 190.049234 ] }, { "date": "2025-02-07", "close": 178.938062, "volume": 8147260, "typical_volume": 11039008.6, "trend": 196.408753, "fair_value": 189.57714, "relative_strength": -12.905297, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -44.839184, "energy": 34.735274, "activity_lines": [ 176.466814, 175.554289, 181.922197, 188.884618 ] }, { "date": "2025-02-14", "close": 179.449746, "volume": 9181173, "typical_volume": 10988622.45, "trend": 195.859559, "fair_value": 189.463371, "relative_strength": -13.67631, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -42.25548, "energy": 32.410139, "activity_lines": [ 177.994287, 175.965209, 180.995832, 187.790489 ] }, { "date": "2025-02-21", "close": 181.505961, "volume": 10924609, "typical_volume": 11019860.9, "trend": 195.267645, "fair_value": 189.333898, "relative_strength": -11.04301, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -37.786157, "energy": 25.956705, "activity_lines": [ 179.201484, 177.023773, 180.433349, 186.86445 ] }, { "date": "2025-02-28", "close": 194.838192, "volume": 16105435, "typical_volume": 11405068.5, "trend": 194.469975, "fair_value": 189.264322, "relative_strength": -3.379625, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -6.891245, "energy": 15.876766, "activity_lines": [ 184.77948, 180.573041, 181.269292, 186.836744 ] }, { "date": "2025-03-07", "close": 201.158447, "volume": 14246676, "typical_volume": 11677709.4, "trend": 194.257476, "fair_value": 189.254297, "relative_strength": 3.073624, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": 17.090198, "energy": 28.501134, "activity_lines": [ 191.166696, 184.866369, 182.760021, 187.268258 ] }, { "date": "2025-03-14", "close": 199.869759, "volume": 15845770, "typical_volume": 11987365.05, "trend": 194.087177, "fair_value": 189.193457, "relative_strength": 4.816895, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 32.757244, "energy": 40.493799, "activity_lines": [ 195.397255, 188.401301, 184.182219, 187.630341 ] }, { "date": "2025-03-21", "close": 204.891851, "volume": 17503880, "typical_volume": 12266793.9, "trend": 193.862069, "fair_value": 189.174993, "relative_strength": 6.785375, "stage": 1, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 40.334107, "energy": 63.169938, "activity_lines": [ 199.906398, 192.36057, 186.127395, 188.327416 ] }, { "date": "2025-03-28", "close": 204.256982, "volume": 11500012, "typical_volume": 11807984.35, "trend": 193.707169, "fair_value": 189.062482, "relative_strength": 7.944654, "stage": 2, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 34.017723, "energy": 66.239451, "activity_lines": [ 202.507778, 195.467547, 187.981266, 188.998056 ] }, { "date": "2025-04-04", "close": 208.625254, "volume": 23931097, "typical_volume": 12360655.3, "trend": 193.321828, "fair_value": 188.925626, "relative_strength": 20.752128, "stage": 2, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 47.359519, "energy": 66.704533, "activity_lines": [ 205.048514, 198.935116, 190.181035, 189.960513 ] }, { "date": "2025-04-11", "close": 203.650541, "volume": 22305041, "typical_volume": 12920364.3, "trend": 192.69794, "fair_value": 188.809333, "relative_strength": 11.214888, "stage": 1, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 36.277386, "energy": 47.057257, "activity_lines": [ 205.011875, 200.893646, 191.792167, 190.626882 ] }, { "date": "2025-04-18", "close": 212.666868, "volume": 11911326, "typical_volume": 13082077.8, "trend": 192.481505, "fair_value": 188.715452, "relative_strength": 17.273868, "stage": 1, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 46.933688, "energy": 46.514055, "activity_lines": [ 207.814539, 203.975171, 194.205982, 191.9152 ] }, { "date": "2025-04-25", "close": 201.358255, "volume": 17924711, "typical_volume": 13357084.65, "trend": 192.03543, "fair_value": 188.66525, "relative_strength": 5.860227, "stage": 2, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "up", "direction": 59.95163, "energy": 45.299687, "activity_lines": [ 205.994524, 204.387333, 195.464814, 192.487893 ] }, { "date": "2025-05-02", "close": 213.56468, "volume": 15042182, "typical_volume": 13520061.7, "trend": 192.203218, "fair_value": 188.676324, "relative_strength": 8.81791, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 69.560142, "energy": 48.254588, "activity_lines": [ 208.478891, 206.62051, 197.853542, 193.876877 ] }, { "date": "2025-05-09", "close": 210.097597, "volume": 12549156, "typical_volume": 13172366.15, "trend": 192.34187, "fair_value": 188.728656, "relative_strength": 7.268708, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 61.135467, "energy": 45.030374, "activity_lines": [ 209.18705, 207.640421, 199.77687, 195.031353 ] }, { "date": "2025-05-16", "close": 203.80336, "volume": 18965020, "typical_volume": 13796204.65, "trend": 192.050627, "fair_value": 188.67599, "relative_strength": -1.168123, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 53.873285, "energy": 34.811873, "activity_lines": [ 207.698974, 207.238482, 200.921992, 195.770804 ] }, { "date": "2025-05-23", "close": 202.351579, "volume": 9264147, "typical_volume": 13811270.25, "trend": 191.820566, "fair_value": 188.521215, "relative_strength": 0.570333, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 42.743866, "energy": 28.685606, "activity_lines": [ 205.716783, 206.524494, 201.778992, 196.435382 ] }, { "date": "2025-05-30", "close": 205.016362, "volume": 11307114, "typical_volume": 13879309.05, "trend": 192.040608, "fair_value": 188.351419, "relative_strength": 0.116119, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 38.741461, "energy": 23.028884, "activity_lines": [ 205.310539, 206.249888, 202.749952, 197.286723 ] }, { "date": "2025-06-06", "close": 203.00106, "volume": 10800370, "typical_volume": 13759706.0, "trend": 192.489635, "fair_value": 188.256167, "relative_strength": -2.471225, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 35.425457, "energy": 18.590334, "activity_lines": [ 203.988653, 205.606599, 203.335398, 197.993849 ] }, { "date": "2025-06-13", "close": 206.783333, "volume": 9174300, "typical_volume": 13812582.2, "trend": 193.232228, "fair_value": 188.259701, "relative_strength": -0.317991, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 37.972872, "energy": 19.655217, "activity_lines": [ 204.631767, 205.673831, 204.173469, 198.916023 ] }, { "date": "2025-06-20", "close": 209.363311, "volume": 9768639, "typical_volume": 13819895.9, "trend": 193.81475, "fair_value": 188.137144, "relative_strength": 1.007186, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 53.021501, "energy": 28.338806, "activity_lines": [ 206.355825, 206.24364, 205.107689, 199.956738 ] }, { "date": "2025-06-27", "close": 209.652114, "volume": 10690808, "typical_volume": 13947073.3, "trend": 194.26007, "fair_value": 188.034632, "relative_strength": -2.267378, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 52.843647, "energy": 30.298345, "activity_lines": [ 207.805486, 206.76209, 205.90698, 200.978504 ] }, { "date": "2025-07-04", "close": 213.473948, "volume": 7946573, "typical_volume": 13885343.3, "trend": 194.892268, "fair_value": 187.975595, "relative_strength": -2.190923, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 60.993495, "energy": 41.989842, "activity_lines": [ 210.04239, 208.030232, 206.923998, 202.218109 ] }, { "date": "2025-07-11", "close": 211.057625, "volume": 8448214, "typical_volume": 13761523.55, "trend": 195.75511, "fair_value": 187.888809, "relative_strength": -2.942688, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 56.508605, "energy": 48.190227, "activity_lines": [ 210.910014, 208.638758, 207.548869, 203.261035 ] }, { "date": "2025-07-18", "close": 216.381237, "volume": 8432994, "typical_volume": 13377901.5, "trend": 197.215853, "fair_value": 187.822715, "relative_strength": -1.032211, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 68.093905, "energy": 59.009537, "activity_lines": [ 213.015071, 210.260795, 208.54003, 204.591753 ] }, { "date": "2025-07-25", "close": 221.290897, "volume": 8639091, "typical_volume": 13097522.25, "trend": 198.847765, "fair_value": 187.725231, "relative_strength": -0.171185, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 75.882301, "energy": 70.053959, "activity_lines": [ 216.116821, 212.661251, 209.89619, 206.144982 ] }, { "date": "2025-08-01", "close": 204.184101, "volume": 15579997, "typical_volume": 13084233.6, "trend": 199.887656, "fair_value": 187.510475, "relative_strength": -5.152605, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 47.610284, "energy": 32.820885, "activity_lines": [ 212.721133, 211.633424, 209.527264, 206.489261 ] }, { "date": "2025-08-08", "close": 198.802728, "volume": 10046716, "typical_volume": 12711375.4, "trend": 201.035596, "fair_value": 187.230269, "relative_strength": -9.479704, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 15.323618, "energy": 10.220073, "activity_lines": [ 207.896189, 209.593848, 208.625281, 206.419266 ] }, { "date": "2025-08-15", "close": 198.427284, "volume": 12091604, "typical_volume": 12740955.0, "trend": 201.63628, "fair_value": 186.966184, "relative_strength": -10.198979, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": -3.784978, "energy": 14.772155, "activity_lines": [ 203.924178, 207.598984, 207.716537, 206.250988 ] }, { "date": "2025-08-22", "close": 203.972311, "volume": 10941242, "typical_volume": 12091462.25, "trend": 202.589516, "fair_value": 186.811645, "relative_strength": -7.620228, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 4.519648, "energy": 22.395039, "activity_lines": [ 202.642532, 206.695466, 207.363652, 206.401699 ] }, { "date": "2025-08-29", "close": 196.242003, "volume": 13457920, "typical_volume": 11649106.2, "trend": 203.289182, "fair_value": 186.665432, "relative_strength": -10.729331, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -28.128004, "energy": 35.585537, "activity_lines": [ 199.611378, 204.437548, 206.296704, 205.992182 ] }, { "date": "2025-09-05", "close": 190.918392, "volume": 13853359, "typical_volume": 11746207.85, "trend": 203.688526, "fair_value": 186.424975, "relative_strength": -12.866836, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -46.209092, "energy": 57.545944, "activity_lines": [ 196.475613, 201.450269, 204.758024, 205.194067 ] }, { "date": "2025-09-12", "close": 187.799313, "volume": 16673949, "typical_volume": 11683669.75, "trend": 203.966845, "fair_value": 186.252408, "relative_strength": -15.061796, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -47.831823, "energy": 62.312562, "activity_lines": [ 193.184537, 198.236498, 203.025853, 204.168956 ] }, { "date": "2025-09-19", "close": 186.095373, "volume": 17877983, "typical_volume": 11825459.8, "trend": 204.119825, "fair_value": 186.164525, "relative_strength": -16.33494, "stage": 3, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -73.230871, "energy": 75.186456, "activity_lines": [ 190.059041, 195.179732, 201.195968, 203.015958 ] }, { "date": "2025-09-26", "close": 187.019544, "volume": 14841039, "typical_volume": 11940053.95, "trend": 203.859204, "fair_value": 186.16155, "relative_strength": -15.205056, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -67.167778, "energy": 74.18823, "activity_lines": [ 188.063729, 192.744855, 199.584906, 201.912714 ] }, { "date": "2025-10-03", "close": 184.729668, "volume": 15387437, "typical_volume": 11761174.8, "trend": 203.311578, "fair_value": 186.248013, "relative_strength": -16.724627, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -70.542893, "energy": 75.218225, "activity_lines": [ 186.43531, 190.427487, 197.865656, 200.678551 ] }, { "date": "2025-10-10", "close": 181.301374, "volume": 14405365, "typical_volume": 12018235.7, "trend": 202.692632, "fair_value": 186.362413, "relative_strength": -15.843497, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -73.972152, "energy": 73.891203, "activity_lines": [ 184.431616, 188.151542, 195.910729, 199.258538 ] }, { "date": "2025-10-17", "close": 185.778551, "volume": 16148170, "typical_volume": 12260288.5, "trend": 202.055521, "fair_value": 186.495474, "relative_strength": -14.802268, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -63.045712, "energy": 55.661679, "activity_lines": [ 184.561448, 187.105678, 194.482438, 198.167307 ] }, { "date": "2025-10-24", "close": 186.001924, "volume": 9069647, "typical_volume": 12173752.35, "trend": 201.44702, "fair_value": 186.533241, "relative_strength": -15.870419, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -60.459097, "energy": 47.263231, "activity_lines": [ 184.900455, 186.337232, 193.16703, 197.131591 ] }, { "date": "2025-10-31", "close": 173.823226, "volume": 19088196, "typical_volume": 12669447.15, "trend": 200.286952, "fair_value": 186.497396, "relative_strength": -21.485547, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -80.300143, "energy": 63.583569, "activity_lines": [ 181.186126, 183.580392, 190.772695, 195.34941 ] }, { "date": "2025-11-07", "close": 172.822903, "volume": 14684858, "typical_volume": 12915258.1, "trend": 199.259364, "fair_value": 186.346061, "relative_strength": -20.349352, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -76.780937, "energy": 69.562984, "activity_lines": [ 178.018111, 181.18984, 188.440043, 193.577536 ] }, { "date": "2025-11-14", "close": 178.300403, "volume": 15167760, "typical_volume": 13139105.7, "trend": 198.113815, "fair_value": 186.27118, "relative_strength": -17.680633, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -61.74337, "energy": 65.222013, "activity_lines": [ 177.469714, 180.220999, 186.80306, 192.225345 ] }, { "date": "2025-11-21", "close": 174.386515, "volume": 15068238, "typical_volume": 13495188.95, "trend": 197.214757, "fair_value": 186.147804, "relative_strength": -17.609304, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -66.803231, "energy": 74.712658, "activity_lines": [ 175.816751, 178.769961, 184.942619, 190.694552 ] }, { "date": "2025-11-28", "close": 176.047247, "volume": 11068102, "typical_volume": 13626183.35, "trend": 195.964176, "fair_value": 186.039078, "relative_strength": -19.441715, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -61.586283, "energy": 58.978005, "activity_lines": [ 175.476836, 177.864742, 183.426474, 189.328906 ] }, { "date": "2025-12-05", "close": 173.706684, "volume": 14292301, "typical_volume": 13919148.7, "trend": 194.751146, "fair_value": 185.946537, "relative_strength": -20.441786, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -65.974832, "energy": 54.137388, "activity_lines": [ 175.020377, 176.71666, 181.854135, 187.892939 ] }, { "date": "2025-12-12", "close": 175.49367, "volume": 19393994, "typical_volume": 14456893.85, "trend": 193.807489, "fair_value": 185.867651, "relative_strength": -18.901558, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -59.718456, "energy": 49.742771, "activity_lines": [ 175.167351, 176.135537, 180.655196, 186.650521 ] }, { "date": "2025-12-19", "close": 167.442521, "volume": 22287717, "typical_volume": 14792279.85, "trend": 192.643854, "fair_value": 185.742795, "relative_strength": -22.484622, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -75.205074, "energy": 57.380557, "activity_lines": [ 172.452556, 174.258495, 178.907564, 184.949555 ] }, { "date": "2025-12-26", "close": 171.327273, "volume": 10015971, "typical_volume": 14790742.6, "trend": 191.520884, "fair_value": 185.637331, "relative_strength": -21.590013, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -62.927325, "energy": 52.20193, "activity_lines": [ 171.756538, 173.339751, 177.704868, 183.574292 ] }, { "date": "2026-01-02", "close": 171.405009, "volume": 7363099, "typical_volume": 14554317.35, "trend": 190.467683, "fair_value": 185.494638, "relative_strength": -20.518445, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -59.718986, "energy": 49.886344, "activity_lines": [ 171.290382, 172.697892, 176.640411, 182.276493 ] }, { "date": "2026-01-09", "close": 165.237174, "volume": 13627302, "typical_volume": 14688620.35, "trend": 189.082811, "fair_value": 185.231104, "relative_strength": -24.358804, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -73.201895, "energy": 56.39151, "activity_lines": [ 169.077762, 171.200006, 175.117218, 180.648719 ] }, { "date": "2026-01-16", "close": 180.004676, "volume": 17207166, "typical_volume": 14876082.65, "trend": 188.10419, "fair_value": 185.127004, "relative_strength": -17.082618, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -53.97712, "energy": 36.604651, "activity_lines": [ 172.352278, 172.543231, 175.184908, 180.063033 ] }, { "date": "2026-01-23", "close": 175.278291, "volume": 14385893, "typical_volume": 14902709.35, "trend": 186.958395, "fair_value": 184.996129, "relative_strength": -18.788385, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -40.835254, "energy": 26.184376, "activity_lines": [ 173.750598, 172.896535, 174.879786, 179.235555 ] }, { "date": "2026-01-30", "close": 175.797997, "volume": 17418847, "typical_volume": 14939954.25, "trend": 185.70253, "fair_value": 184.86137, "relative_strength": -18.667536, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -35.938694, "energy": 19.900626, "activity_lines": [ 174.799769, 173.399279, 174.698636, 178.51553 ] }, { "date": "2026-02-06", "close": 167.943569, "volume": 18838803, "typical_volume": 14987995.25, "trend": 184.265395, "fair_value": 184.706602, "relative_strength": -21.869742, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -48.335885, "energy": 22.845052, "activity_lines": [ 172.932749, 172.448282, 173.826595, 177.36979 ] }, { "date": "2026-02-13", "close": 188.369006, "volume": 15228353, "typical_volume": 15007360.95, "trend": 183.331654, "fair_value": 184.71947, "relative_strength": -11.109409, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": 5.687267, "energy": 9.983316, "activity_lines": [ 178.10497, 175.35834, 174.986271, 177.634539 ] }, { "date": "2026-02-20", "close": 183.672038, "volume": 10544192, "typical_volume": 14765198.7, "trend": 182.077692, "fair_value": 184.784783, "relative_strength": -14.080529, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -0.228994, "energy": 12.174113, "activity_lines": [ 180.169414, 177.147816, 175.69219, 177.656499 ] }, { "date": "2026-02-27", "close": 188.133667, "volume": 17791020, "typical_volume": 14934481.45, "trend": 181.542678, "fair_value": 184.840232, "relative_strength": -11.235568, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 26.035133, "energy": 27.076179, "activity_lines": [ 183.476576, 179.5998, 176.828063, 178.047207 ] }, { "date": "2026-03-06", "close": 184.927177, "volume": 14386704, "typical_volume": 14846408.15, "trend": 181.080159, "fair_value": 184.938932, "relative_strength": -10.546163, "stage": 4, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 20.007461, "energy": 34.472147, "activity_lines": [ 184.857883, 181.092583, 177.626021, 178.265562 ] }, { "date": "2026-03-13", "close": 180.828362, "volume": 13942918, "typical_volume": 15090071.7, "trend": 180.493529, "fair_value": 184.954086, "relative_strength": -10.71456, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 17.035141, "energy": 33.127893, "activity_lines": [ 184.264307, 181.592856, 178.03767, 178.249317 ] }, { "date": "2026-03-20", "close": 173.356359, "volume": 18634431, "typical_volume": 15067383.45, "trend": 179.472997, "fair_value": 184.931172, "relative_strength": -12.283661, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": -8.453552, "energy": 9.589129, "activity_lines": [ 180.321076, 180.563249, 177.762336, 177.788855 ] }, { "date": "2026-03-27", "close": 166.227558, "volume": 18388328, "typical_volume": 15252556.95, "trend": 178.472515, "fair_value": 184.835743, "relative_strength": -13.370525, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -46.983047, "energy": 26.440351, "activity_lines": [ 175.002422, 178.089876, 176.810291, 176.93431 ] }, { "date": "2026-04-03", "close": 170.35579, "volume": 14085066, "typical_volume": 15198422.25, "trend": 177.787095, "fair_value": 184.753425, "relative_strength": -13.29218, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -41.493317, "energy": 30.575491, "activity_lines": [ 172.222811, 176.617582, 176.282818, 176.410651 ] }, { "date": "2026-04-10", "close": 175.807803, "volume": 16435273, "typical_volume": 15266774.0, "trend": 177.387378, "fair_value": 184.696221, "relative_strength": -12.919056, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -38.990529, "energy": 29.59286, "activity_lines": [ 172.445729, 176.226064, 176.312415, 176.282954 ] }, { "date": "2026-04-17", "close": 180.632613, "volume": 14239401, "typical_volume": 15425338.95, "trend": 177.205286, "fair_value": 184.685685, "relative_strength": -13.531287, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -26.424986, "energy": 18.717324, "activity_lines": [ 174.884875, 176.711606, 176.79475, 176.492324 ] }, { "date": "2026-04-24", "close": 176.521923, "volume": 14111340, "typical_volume": 15416290.9, "trend": 176.855366, "fair_value": 184.647368, "relative_strength": -15.269598, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -13.068126, "energy": 6.255057, "activity_lines": [ 175.966841, 176.21904, 176.863756, 176.448236 ] }, { "date": "2026-05-01", "close": 179.889717, "volume": 15256314, "typical_volume": 15209406.9, "trend": 176.694034, "fair_value": 184.674369, "relative_strength": -13.709131, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 7.033618, "energy": 8.301205, "activity_lines": [ 177.960367, 176.554201, 177.240098, 176.644001 ] }, { "date": "2026-05-08", "close": 174.857837, "volume": 12085551, "typical_volume": 14699298.6, "trend": 176.479249, "fair_value": 184.648852, "relative_strength": -17.285489, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 8.062849, "energy": 8.023229, "activity_lines": [ 177.36579, 176.043245, 177.11628, 176.525537 ] }, { "date": "2026-05-15", "close": 169.013724, "volume": 16667347, "typical_volume": 15031867.4, "trend": 175.920422, "fair_value": 184.640591, "relative_strength": -19.579421, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -16.737073, "energy": 10.476297, "activity_lines": [ 174.523039, 174.711101, 176.400569, 176.04389 ] }, { "date": "2026-05-22", "close": 182.108499, "volume": 15714552, "typical_volume": 15449440.05, "trend": 175.790641, "fair_value": 184.765209, "relative_strength": -13.461366, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 39.374566, "energy": 15.050079, "activity_lines": [ 176.498151, 176.049161, 176.942996, 176.443121 ] }, { "date": "2026-05-29", "close": 185.18904, "volume": 12275223, "typical_volume": 15381836.1, "trend": 176.169501, "fair_value": 184.858232, "relative_strength": -12.621247, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 54.705285, "energy": 29.162728, "activity_lines": [ 179.401717, 177.924045, 177.727839, 177.049469 ] }, { "date": "2026-06-05", "close": 192.281217, "volume": 17808312, "typical_volume": 15411893.4, "trend": 176.818112, "fair_value": 185.018754, "relative_strength": -6.419596, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 67.39738, "energy": 54.69246, "activity_lines": [ 184.091535, 180.873275, 179.093119, 178.088934 ] }, { "date": "2026-06-12", "close": 187.18, "volume": 13968719, "typical_volume": 15391034.7, "trend": 177.114099, "fair_value": 185.105658, "relative_strength": -8.801184, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 56.902219, "energy": 59.936057, "activity_lines": [ 186.254847, 182.421308, 179.914108, 178.757443 ] }, { "date": "2026-06-19", "close": 176.05, "volume": 13049595, "typical_volume": 15172572.1, "trend": 177.169548, "fair_value": 185.160798, "relative_strength": -14.298319, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 44.430216, "energy": 47.313208, "activity_lines": [ 183.886682, 181.639811, 179.618423, 178.688792 ] }, { "date": "2026-06-26", "close": 175.59, "volume": 21819522, "typical_volume": 15321608.05, "trend": 177.154306, "fair_value": 185.167349, "relative_strength": -11.800669, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 37.553873, "energy": 20.825846, "activity_lines": [ 180.896098, 180.770273, 179.277728, 178.586885 ] }, { "date": "2026-07-03", "close": 166.03, "volume": 17453463, "typical_volume": 15432863.55, "trend": 176.898417, "fair_value": 185.103328, "relative_strength": -17.662135, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -15.80841, "energy": 17.175961, "activity_lines": [ 175.153414, 178.254237, 177.990146, 177.869188 ] }, { "date": "2026-07-10", "close": 168.59, "volume": 15943276, "typical_volume": 15702817.75, "trend": 176.668295, "fair_value": 185.064834, "relative_strength": -16.816534, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -31.496444, "energy": 31.754071, "activity_lines": [ 171.541333, 176.394419, 177.052749, 177.333161 ] }, { "date": "2026-07-17", "close": 170.06, "volume": 11633619, "typical_volume": 15394947.7, "trend": 176.755544, "fair_value": 185.088154, "relative_strength": -14.03721, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -27.686661, "energy": 39.214971, "activity_lines": [ 169.998667, 175.007322, 176.327171, 176.90682 ] }, { "date": "2026-07-24", "close": 166.67, "volume": 14994969, "typical_volume": 15425360.95, "trend": 176.600302, "fair_value": 185.066202, "relative_strength": -14.47742, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -63.302817, "energy": 62.728343, "activity_lines": [ 168.467333, 173.091095, 175.364802, 176.256139 ] }, { "date": "2026-07-31", "close": 173.36, "volume": 21284415, "typical_volume": 15792435.8, "trend": 176.665468, "fair_value": 185.111369, "relative_strength": -11.362956, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -53.826316, "energy": 47.118754, "activity_lines": [ 169.791333, 172.433845, 175.126514, 176.047088 ] }, { "date": "2026-08-07", "close": 172.54, "volume": 15247725, "typical_volume": 15623100.5, "trend": 176.908895, "fair_value": 185.137777, "relative_strength": -14.192818, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -49.183277, "energy": 27.383275, "activity_lines": [ 170.990667, 171.786568, 174.845694, 175.780929 ] } ], "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." } } }