{ "ticker": { "uuid": "27ee7d00-eeb6-4856-977f-d46812ce07f4", "symbol": "FRI", "name": "FIRST TRUST EXCHANGE TRADED FUND SHS FIRST TRUST S&P REIT INDEX FUND", "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": 2, "stage_name": "Advancing", "phase": "2b", "phase_label": "Stage 2B \u00b7 Advancing", "transition": "stage_2_healthy", "transition_label": "Stage 2 trend intact", "confidence": 87.997, "architecture_regime": "upward_expansion", "architecture_regime_label": "Upward Expansion", "architecture_modifier": "Established expansion", "architecture_gate": "up", "architecture_direction": 61.122, "architecture_energy": 52.808, "architecture_maturity": 39.473, "architecture_confidence": 70.01, "architecture_tenure": "Established", "architecture": { "interpretation": { "headline": "The weekly architecture is expanding upward.", "body": "Trend and Activity show sustained positive alignment with constructive price acceptance. Directional energy remains positive; cooling within this regime can indicate that it is maturing." }, "scores": { "balance": 14.5, "rotation_up": 58.1, "upward_expansion": 78.78, "deceleration": 61.81, "rotation_down": 19.33, "downward_expansion": 7.78 }, "activity_lines": [ 32.5244, 32.311498, 31.715911, 31.13629 ], "activity_state": "Wide", "activity_direction": "Contracting", "rotation_direction": "Stable", "price_acceptance": 0.5 }, "latest_close": 32.15, "trend_reference": 30.374607, "distance_from_trend": 0.05845, "trend_direction": "Improving", "fair_value": 26.444517, "distance_from_fair_value": 0.215753, "fair_value_direction": "Improving", "relative_strength": -1.4184, "relative_strength_direction": "Weakening", "price_momentum": 0.113427, "excess_performance": -0.012198, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.05845, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.053522, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.215753, "read": "Premium" }, { "label": "Fair Value direction", "positive": true, "value": 0.01239, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.014184, "read": "Lagging" }, { "label": "Relative strength direction", "positive": false, "value": -0.002056, "read": "Weakening" }, { "label": "Price momentum", "positive": true, "value": 0.113427, "read": "Positive" }, { "label": "Volume balance", "positive": false, "value": 0.8052, "read": "Supply-led" } ], "volume": { "latest": 409575, "relative_activity": 2.790612, "balance": 0.8052, "dry_up": 1.729859, "accumulation_observations": 2, "distribution_observations": 3 }, "risk": { "range_context": 0.030284, "annualized_volatility": 0.163649, "from_high_reference": -0.038577, "from_low_reference": 0.239542 }, "levels": { "trend_reference": 30.374607, "fair_value_reference": 26.444517, "structural_low": 27.9, "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis." }, "outcomes": [ { "horizon": "Near term", "sample_count": 29, "median_return": 0.008033, "positive_rate": 0.586207, "directional_follow_through": 0.586207, "median_excess_return": -0.002882, "regime_survival": 0.689655, "best_return": 0.099122, "worst_return": -0.118177, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 11, "median_return": -0.002001, "positive_rate": 0.363636, "directional_follow_through": 0.363636, "median_excess_return": -0.017315, "regime_survival": 0.636364, "best_return": 0.090546, "worst_return": -0.0554, "sufficient": true }, { "horizon": "Extended", "sample_count": 5, "median_return": 0.044199, "positive_rate": 0.8, "directional_follow_through": 0.8, "median_excess_return": -0.010356, "regime_survival": 0.4, "best_return": 0.100353, "worst_return": -0.170294, "sufficient": true }, { "horizon": "Full cycle", "sample_count": 2, "median_return": -0.022041, "positive_rate": 0.5, "directional_follow_through": 0.5, "median_excess_return": -0.091304, "regime_survival": 0.0, "best_return": 0.042948, "worst_return": -0.08703, "sufficient": false } ], "ledger": [ { "regime": "balance", "label": "Balance", "color": "blue", "start": "2024-05-24", "end": "2024-07-05", "tenure": "Developing", "return": 0.04478, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2024-07-12", "end": "2024-07-19", "tenure": "New", "return": 0.015661, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2024-07-26", "end": "2024-11-01", "tenure": "Established", "return": 0.054054, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2024-11-08", "end": "2024-11-29", "tenure": "New", "return": 0.019002, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2024-12-06", "end": "2025-01-03", "tenure": "Developing", "return": -0.047029, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2025-01-10", "end": "2025-02-07", "tenure": "Developing", "return": 0.061883, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-02-14", "end": "2025-03-28", "tenure": "Developing", "return": -0.025439, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-04-04", "end": "2025-05-23", "tenure": "Developing", "return": 0.049112, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-05-30", "end": "2025-08-29", "tenure": "Established", "return": 0.029953, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-09-05", "end": "2025-12-12", "tenure": "Established", "return": -0.009928, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-12-19", "end": "2026-01-16", "tenure": "Developing", "return": 0.050979, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-01-23", "end": "2026-03-27", "tenure": "Developing", "return": 0.004015, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2026-04-03", "end": "2026-04-17", "tenure": "New", "return": 0.068264, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-04-24", "end": "2026-08-07", "tenure": "Established", "return": 0.062776, "active": true } ], "chart_path": [ { "date": "2023-08-18", "close": 22.163794, "volume": 87192, "typical_volume": 137912.25, "trend": 22.539561, "fair_value": 23.300321, "relative_strength": -8.43304, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": -4.943842, "energy": 7.835172, "activity_lines": [ 22.736343, 22.884405, 22.65386, 22.513544 ] }, { "date": "2023-08-25", "close": 22.302665, "volume": 87139, "typical_volume": 137330.1, "trend": 22.490532, "fair_value": 23.321969, "relative_strength": -8.269992, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 17.264714, "energy": 18.233773, "activity_lines": [ 22.513193, 22.786904, 22.640039, 22.498261 ] }, { "date": "2023-09-01", "close": 22.71002, "volume": 54868, "typical_volume": 114620.3, "trend": 22.439414, "fair_value": 23.346721, "relative_strength": -8.606437, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 21.634205, "energy": 19.000873, "activity_lines": [ 22.521186, 22.771315, 22.663635, 22.512421 ] }, { "date": "2023-09-08", "close": 22.450794, "volume": 43691, "typical_volume": 107016.1, "trend": 22.395073, "fair_value": 23.372632, "relative_strength": -8.178274, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 17.504571, "energy": 18.031067, "activity_lines": [ 22.48042, 22.689652, 22.657223, 22.513155 ] }, { "date": "2023-09-15", "close": 22.636326, "volume": 78631, "typical_volume": 107143.9, "trend": 22.363795, "fair_value": 23.399939, "relative_strength": -7.005409, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 11.70504, "energy": 9.993217, "activity_lines": [ 22.525599, 22.647839, 22.666616, 22.52872 ] }, { "date": "2023-09-22", "close": 21.46944, "volume": 123640, "typical_volume": 104881.0, "trend": 22.317554, "fair_value": 23.423553, "relative_strength": -8.855888, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -33.773677, "energy": 28.962001, "activity_lines": [ 22.197839, 22.397436, 22.563647, 22.47102 ] }, { "date": "2023-09-29", "close": 21.154666, "volume": 65625, "typical_volume": 92964.15, "trend": 22.251652, "fair_value": 23.43772, "relative_strength": -9.283098, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -41.284638, "energy": 54.307453, "activity_lines": [ 21.811445, 22.126833, 22.435506, 22.395995 ] }, { "date": "2023-10-06", "close": 20.811099, "volume": 131604, "typical_volume": 92486.7, "trend": 22.230643, "fair_value": 23.447925, "relative_strength": -10.946934, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -52.778377, "energy": 69.018683, "activity_lines": [ 21.387062, 21.840643, 22.279409, 22.303056 ] }, { "date": "2023-10-13", "close": 21.099118, "volume": 109744, "typical_volume": 92095.7, "trend": 22.226467, "fair_value": 23.463935, "relative_strength": -9.888341, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -41.491249, "energy": 69.14397, "activity_lines": [ 21.185279, 21.651613, 22.155038, 22.230054 ] }, { "date": "2023-10-20", "close": 20.338846, "volume": 317751, "typical_volume": 102421.2, "trend": 22.205357, "fair_value": 23.474994, "relative_strength": -10.783907, "stage": 4, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -80.356552, "energy": 84.8753, "activity_lines": [ 20.820185, 21.355502, 21.960092, 22.108272 ] }, { "date": "2023-10-27", "close": 19.784473, "volume": 173928, "typical_volume": 107419.65, "trend": 22.123769, "fair_value": 23.488963, "relative_strength": -10.727965, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -86.19787, "energy": 90.464218, "activity_lines": [ 20.423464, 21.004738, 21.72132, 21.952086 ] }, { "date": "2023-11-03", "close": 21.432408, "volume": 271495, "typical_volume": 116262.1, "trend": 22.104417, "fair_value": 23.50867, "relative_strength": -8.366971, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -63.953095, "energy": 60.597899, "activity_lines": [ 20.688387, 20.996858, 21.65228, 21.907482 ] }, { "date": "2023-11-10", "close": 20.913956, "volume": 164881, "typical_volume": 122101.6, "trend": 22.081782, "fair_value": 23.515039, "relative_strength": -11.472687, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -61.056738, "energy": 48.46084, "activity_lines": [ 20.761976, 20.910538, 21.540063, 21.830678 ] }, { "date": "2023-11-17", "close": 21.713945, "volume": 240040, "typical_volume": 130598.6, "trend": 22.070277, "fair_value": 23.526898, "relative_strength": -9.877854, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -44.198359, "energy": 30.290453, "activity_lines": [ 21.095371, 21.002325, 21.507626, 21.806947 ] }, { "date": "2023-11-24", "close": 21.923085, "volume": 66168, "typical_volume": 131785.5, "trend": 22.055107, "fair_value": 23.540433, "relative_strength": -9.626524, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -28.212819, "energy": 23.603766, "activity_lines": [ 21.457491, 21.145536, 21.500219, 21.79745 ] }, { "date": "2023-12-01", "close": 22.913697, "volume": 94023, "typical_volume": 130860.1, "trend": 22.06961, "fair_value": 23.55761, "relative_strength": -6.092722, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": 1.30912, "energy": 19.285277, "activity_lines": [ 22.044199, 21.481825, 21.591487, 21.852843 ] }, { "date": "2023-12-08", "close": 22.96045, "volume": 145214, "typical_volume": 130375.85, "trend": 22.096444, "fair_value": 23.578245, "relative_strength": -5.859899, "stage": 1, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "mixed", "direction": 32.316369, "energy": 37.32877, "activity_lines": [ 22.437876, 21.800357, 21.690029, 21.910317 ] }, { "date": "2023-12-15", "close": 24.360269, "volume": 179184, "typical_volume": 130550.35, "trend": 22.184685, "fair_value": 23.607278, "relative_strength": -2.252095, "stage": 1, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 48.461097, "energy": 63.029234, "activity_lines": [ 23.19629, 22.340568, 21.925567, 22.05637 ] }, { "date": "2023-12-22", "close": 24.35814, "volume": 192888, "typical_volume": 133901.1, "trend": 22.280496, "fair_value": 23.635994, "relative_strength": -2.933514, "stage": 2, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 45.290338, "energy": 72.773325, "activity_lines": [ 23.72424, 22.815861, 22.155732, 22.196593 ] }, { "date": "2023-12-29", "close": 24.554652, "volume": 164193, "typical_volume": 139594.95, "trend": 22.358219, "fair_value": 23.663992, "relative_strength": -2.283309, "stage": 2, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 51.815162, "energy": 78.290872, "activity_lines": [ 24.141415, 23.26763, 22.397252, 22.343313 ] }, { "date": "2024-01-05", "close": 24.161628, "volume": 233031, "typical_volume": 146886.9, "trend": 22.414629, "fair_value": 23.69273, "relative_strength": -2.115287, "stage": 2, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "up", "direction": 67.226018, "energy": 83.389588, "activity_lines": [ 24.252144, 23.571288, 22.593351, 22.459662 ] }, { "date": "2024-01-12", "close": 24.433001, "volume": 175511, "typical_volume": 151305.5, "trend": 22.471254, "fair_value": 23.720589, "relative_strength": -2.5786, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 68.459085, "energy": 81.592808, "activity_lines": [ 24.370135, 23.844702, 22.805781, 22.589879 ] }, { "date": "2024-01-19", "close": 23.938352, "volume": 304808, "typical_volume": 163802.5, "trend": 22.546925, "fair_value": 23.743439, "relative_strength": -5.368609, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 63.982416, "energy": 61.627667, "activity_lines": [ 24.225073, 23.973624, 22.960957, 22.684531 ] }, { "date": "2024-01-26", "close": 23.806034, "volume": 69593, "typical_volume": 165097.6, "trend": 22.580885, "fair_value": 23.766515, "relative_strength": -6.487722, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 59.631443, "energy": 47.781504, "activity_lines": [ 24.064033, 24.023499, 23.097683, 22.765764 ] }, { "date": "2024-02-02", "close": 23.657153, "volume": 165903, "typical_volume": 169461.2, "trend": 22.608367, "fair_value": 23.784697, "relative_strength": -7.975992, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 47.226513, "energy": 39.863649, "activity_lines": [ 23.890172, 24.008266, 23.213776, 22.8352 ] }, { "date": "2024-02-09", "close": 23.67512, "volume": 96440, "typical_volume": 168101.2, "trend": 22.613997, "fair_value": 23.800291, "relative_strength": -8.76203, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 42.129329, "energy": 30.745244, "activity_lines": [ 23.782135, 23.964772, 23.326718, 22.904023 ] }, { "date": "2024-02-16", "close": 23.749888, "volume": 101603, "typical_volume": 169900.1, "trend": 22.614559, "fair_value": 23.816865, "relative_strength": -7.779695, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 40.63065, "energy": 27.918676, "activity_lines": [ 23.731453, 23.921028, 23.436279, 22.977306 ] }, { "date": "2024-02-23", "close": 23.870509, "volume": 58170, "typical_volume": 166228.4, "trend": 22.634417, "fair_value": 23.835382, "relative_strength": -8.439252, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 38.642701, "energy": 26.506403, "activity_lines": [ 23.76652, 23.884862, 23.544969, 23.058335 ] }, { "date": "2024-03-01", "close": 24.18942, "volume": 93943, "typical_volume": 165438.35, "trend": 22.68032, "fair_value": 23.855971, "relative_strength": -7.742519, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 51.19422, "energy": 34.820449, "activity_lines": [ 23.912413, 23.915584, 23.669462, 23.158658 ] }, { "date": "2024-03-08", "close": 24.517221, "volume": 171744, "typical_volume": 158138.0, "trend": 22.735006, "fair_value": 23.87211, "relative_strength": -5.985228, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 67.022348, "energy": 46.389516, "activity_lines": [ 24.142014, 24.008974, 23.810459, 23.277168 ] }, { "date": "2024-03-15", "close": 23.807625, "volume": 106135, "typical_volume": 154748.35, "trend": 22.7898, "fair_value": 23.885873, "relative_strength": -8.359939, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 54.408553, "energy": 41.779567, "activity_lines": [ 24.077745, 23.974027, 23.863979, 23.346369 ] }, { "date": "2024-03-22", "close": 23.849597, "volume": 83621, "typical_volume": 145354.65, "trend": 22.841364, "fair_value": 23.896499, "relative_strength": -9.930584, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 52.06877, "energy": 37.633774, "activity_lines": [ 24.018633, 23.953148, 23.902338, 23.414743 ] }, { "date": "2024-03-29", "close": 24.417228, "volume": 92798, "typical_volume": 141750.5, "trend": 22.898271, "fair_value": 23.91, "relative_strength": -7.821139, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 62.732985, "energy": 40.863725, "activity_lines": [ 24.142084, 24.046082, 23.983247, 23.516412 ] }, { "date": "2024-04-05", "close": 23.707384, "volume": 291916, "typical_volume": 144344.3, "trend": 22.940158, "fair_value": 23.918038, "relative_strength": -9.395355, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 38.105252, "energy": 22.166106, "activity_lines": [ 23.992473, 24.001247, 23.979869, 23.568613 ] }, { "date": "2024-04-12", "close": 23.209827, "volume": 98772, "typical_volume": 145974.5, "trend": 22.959274, "fair_value": 23.919665, "relative_strength": -9.716521, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 7.695072, "energy": 8.476991, "activity_lines": [ 23.709145, 23.86774, 23.919612, 23.586011 ] }, { "date": "2024-04-19", "close": 22.51041, "volume": 95947, "typical_volume": 146070.7, "trend": 22.993973, "fair_value": 23.914239, "relative_strength": -9.356585, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": -13.614393, "energy": 20.680215, "activity_lines": [ 23.279838, 23.615199, 23.786617, 23.557052 ] }, { "date": "2024-04-26", "close": 22.827993, "volume": 130821, "typical_volume": 145351.05, "trend": 23.049751, "fair_value": 23.908784, "relative_strength": -10.113614, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "mixed", "direction": -25.510643, "energy": 33.165643, "activity_lines": [ 23.042872, 23.441578, 23.685788, 23.546343 ] }, { "date": "2024-05-03", "close": 23.126039, "volume": 127486, "typical_volume": 142766.15, "trend": 23.126916, "fair_value": 23.906021, "relative_strength": -9.128575, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -19.535666, "energy": 40.162855, "activity_lines": [ 22.973362, 23.338908, 23.613975, 23.551265 ] }, { "date": "2024-05-10", "close": 23.596826, "volume": 61201, "typical_volume": 136181.8, "trend": 23.210173, "fair_value": 23.908229, "relative_strength": -8.65028, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -16.116908, "energy": 29.445976, "activity_lines": [ 23.146861, 23.335372, 23.592877, 23.581582 ] }, { "date": "2024-05-17", "close": 24.158351, "volume": 141901, "typical_volume": 135067.2, "trend": 23.337489, "fair_value": 23.912977, "relative_strength": -7.747153, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "up", "direction": 28.292745, "energy": 12.360169, "activity_lines": [ 23.514905, 23.444706, 23.628882, 23.642755 ] }, { "date": "2024-05-24", "close": 23.305919, "volume": 74486, "typical_volume": 127139.95, "trend": 23.454871, "fair_value": 23.909251, "relative_strength": -10.727305, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -5.619203, "energy": 9.011717, "activity_lines": [ 23.53557, 23.405577, 23.58559, 23.640718 ] }, { "date": "2024-05-31", "close": 23.708417, "volume": 114442, "typical_volume": 124086.5, "trend": 23.530738, "fair_value": 23.90376, "relative_strength": -8.553292, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 4.916082, "energy": 11.926426, "activity_lines": [ 23.637367, 23.448752, 23.584707, 23.657076 ] }, { "date": "2024-06-07", "close": 23.710672, "volume": 49906, "typical_volume": 111341.4, "trend": 23.623962, "fair_value": 23.893607, "relative_strength": -9.375956, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 7.526313, "energy": 12.130635, "activity_lines": [ 23.681221, 23.494903, 23.587488, 23.668684 ] }, { "date": "2024-06-14", "close": 24.037179, "volume": 130306, "typical_volume": 114377.05, "trend": 23.701403, "fair_value": 23.891269, "relative_strength": -9.327532, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 7.412293, "energy": 9.639417, "activity_lines": [ 23.794935, 23.613266, 23.62245, 23.695343 ] }, { "date": "2024-06-21", "close": 24.094947, "volume": 51462, "typical_volume": 108655.0, "trend": 23.773798, "fair_value": 23.886399, "relative_strength": -9.460208, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 18.914095, "energy": 18.868935, "activity_lines": [ 23.898548, 23.736136, 23.661813, 23.720733 ] }, { "date": "2024-06-28", "close": 24.381465, "volume": 66828, "typical_volume": 107174.4, "trend": 23.822724, "fair_value": 23.884375, "relative_strength": -8.069684, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 26.125515, "energy": 35.547078, "activity_lines": [ 24.101894, 23.895007, 23.726378, 23.759938 ] }, { "date": "2024-07-05", "close": 24.349556, "volume": 135627, "typical_volume": 108875.6, "trend": 23.869027, "fair_value": 23.878166, "relative_strength": -9.597518, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 27.080075, "energy": 43.371676, "activity_lines": [ 24.222901, 24.014057, 23.784541, 23.793927 ] }, { "date": "2024-07-12", "close": 25.311382, "volume": 360578, "typical_volume": 123996.0, "trend": 23.900731, "fair_value": 23.877006, "relative_strength": -6.633893, "stage": 3, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 56.749094, "energy": 66.255361, "activity_lines": [ 24.621773, 24.280319, 23.931451, 23.886982 ] }, { "date": "2024-07-19", "close": 25.707775, "volume": 241413, "typical_volume": 131369.5, "trend": 23.945719, "fair_value": 23.877599, "relative_strength": -3.025254, "stage": 2, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "up", "direction": 86.758333, "energy": 85.165225, "activity_lines": [ 25.046063, 24.57892, 24.109251, 24.003566 ] }, { "date": "2024-07-26", "close": 25.745477, "volume": 594242, "typical_volume": 152494.4, "trend": 23.985413, "fair_value": 23.877985, "relative_strength": -1.900807, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 80.224868, "energy": 86.22016, "activity_lines": [ 25.371547, 24.845995, 24.283412, 24.119679 ] }, { "date": "2024-08-02", "close": 26.15393, "volume": 237336, "typical_volume": 159054.45, "trend": 24.051823, "fair_value": 23.880597, "relative_strength": 1.923196, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 82.932513, "energy": 91.387433, "activity_lines": [ 25.723147, 25.158477, 24.490624, 24.259583 ] }, { "date": "2024-08-09", "close": 26.334368, "volume": 457851, "typical_volume": 177765.95, "trend": 24.115202, "fair_value": 23.884702, "relative_strength": 2.717608, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 79.118421, "energy": 90.560038, "activity_lines": [ 26.016728, 25.451984, 24.703847, 24.406844 ] }, { "date": "2024-08-16", "close": 26.352981, "volume": 65849, "typical_volume": 176418.5, "trend": 24.19569, "fair_value": 23.889369, "relative_strength": -1.00707, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 74.295427, "energy": 87.135019, "activity_lines": [ 26.184193, 25.70113, 24.907012, 24.551217 ] }, { "date": "2024-08-23", "close": 27.341019, "volume": 90868, "typical_volume": 166366.1, "trend": 24.313523, "fair_value": 23.899422, "relative_strength": 1.387955, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 89.346933, "energy": 93.208922, "activity_lines": [ 26.611564, 26.081878, 25.195057, 24.754142 ] }, { "date": "2024-08-30", "close": 27.59743, "volume": 457514, "typical_volume": 184303.2, "trend": 24.444865, "fair_value": 23.90546, "relative_strength": 2.142641, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 87.228569, "energy": 93.340069, "activity_lines": [ 27.015522, 26.449176, 25.490219, 24.966006 ] }, { "date": "2024-09-06", "close": 27.388502, "volume": 358174, "typical_volume": 197414.55, "trend": 24.568645, "fair_value": 23.917163, "relative_strength": 5.761729, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 74.818636, "energy": 87.923525, "activity_lines": [ 27.226374, 26.714806, 25.74459, 25.155919 ] }, { "date": "2024-09-13", "close": 28.414146, "volume": 632559, "typical_volume": 222501.45, "trend": 24.72412, "fair_value": 23.935833, "relative_strength": 5.53918, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 89.291329, "energy": 94.337412, "activity_lines": [ 27.696803, 27.112243, 26.073412, 25.404015 ] }, { "date": "2024-09-20", "close": 28.087935, "volume": 217150, "typical_volume": 226984.65, "trend": 24.864701, "fair_value": 23.953595, "relative_strength": 2.912368, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 74.670152, "energy": 84.876925, "activity_lines": [ 27.919843, 27.376467, 26.344566, 25.621036 ] }, { "date": "2024-09-27", "close": 28.077288, "volume": 200386, "typical_volume": 233943.9, "trend": 24.994296, "fair_value": 23.972524, "relative_strength": 2.335759, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 70.773102, "energy": 68.019293, "activity_lines": [ 28.02367, 27.588273, 26.591078, 25.828299 ] }, { "date": "2024-10-04", "close": 27.680237, "volume": 771784, "typical_volume": 265438.05, "trend": 25.09973, "fair_value": 23.989076, "relative_strength": 0.654867, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 66.937153, "energy": 65.373977, "activity_lines": [ 27.946062, 27.684806, 26.77844, 26.001586 ] }, { "date": "2024-10-11", "close": 27.565895, "volume": 757832, "typical_volume": 299605.35, "trend": 25.225006, "fair_value": 23.998438, "relative_strength": -0.822987, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 63.937807, "energy": 60.958405, "activity_lines": [ 27.82482, 27.725371, 26.938141, 26.160693 ] }, { "date": "2024-10-18", "close": 28.375816, "volume": 205116, "typical_volume": 304139.05, "trend": 25.37588, "fair_value": 24.009959, "relative_strength": 1.232434, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 75.991674, "energy": 63.144964, "activity_lines": [ 27.961725, 27.887523, 27.154692, 26.363971 ] }, { "date": "2024-10-25", "close": 27.870425, "volume": 340828, "typical_volume": 318685.15, "trend": 25.490986, "fair_value": 24.017623, "relative_strength": 0.410466, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 60.380845, "energy": 52.995606, "activity_lines": [ 27.932722, 27.920669, 27.300885, 26.52491 ] }, { "date": "2024-11-01", "close": 27.137113, "volume": 719763, "typical_volume": 348158.0, "trend": 25.605311, "fair_value": 24.017759, "relative_strength": -0.764199, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 46.431254, "energy": 39.903374, "activity_lines": [ 27.673783, 27.792895, 27.35743, 26.631112 ] }, { "date": "2024-11-08", "close": 28.080433, "volume": 453142, "typical_volume": 368242.0, "trend": 25.767664, "fair_value": 24.023749, "relative_strength": -1.929242, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 54.406493, "energy": 43.114169, "activity_lines": [ 27.791961, 27.840341, 27.489054, 26.790797 ] }, { "date": "2024-11-15", "close": 27.518253, "volume": 145126, "typical_volume": 372156.9, "trend": 25.934592, "fair_value": 24.02573, "relative_strength": -1.77885, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 41.933905, "energy": 29.980519, "activity_lines": [ 27.696067, 27.776791, 27.548158, 26.903738 ] }, { "date": "2024-11-22", "close": 28.155136, "volume": 378491, "typical_volume": 384300.1, "trend": 26.112164, "fair_value": 24.034488, "relative_strength": -1.092017, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 53.630498, "energy": 34.397892, "activity_lines": [ 27.815643, 27.826679, 27.652981, 27.046999 ] }, { "date": "2024-11-29", "close": 28.614028, "volume": 145961, "typical_volume": 373569.25, "trend": 26.295097, "fair_value": 24.0472, "relative_strength": -0.530392, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 71.128318, "energy": 48.808501, "activity_lines": [ 28.102895, 27.96471, 27.783386, 27.20841 ] }, { "date": "2024-12-06", "close": 27.898725, "volume": 246589, "typical_volume": 373828.05, "trend": 26.438493, "fair_value": 24.050833, "relative_strength": -3.67512, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 54.338655, "energy": 39.130577, "activity_lines": [ 28.102139, 27.963122, 27.82994, 27.311869 ] }, { "date": "2024-12-13", "close": 27.475279, "volume": 226804, "typical_volume": 355456.15, "trend": 26.549058, "fair_value": 24.050461, "relative_strength": -4.304586, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 51.31951, "energy": 34.154855, "activity_lines": [ 27.90946, 27.88779, 27.825732, 27.378759 ] }, { "date": "2024-12-20", "close": 26.26598, "volume": 172703, "typical_volume": 352224.5, "trend": 26.647726, "fair_value": 24.040137, "relative_strength": -6.516702, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": -6.376793, "energy": 8.701541, "activity_lines": [ 27.354026, 27.596311, 27.698116, 27.360496 ] }, { "date": "2024-12-27", "close": 26.339699, "volume": 172216, "typical_volume": 337942.75, "trend": 26.735436, "fair_value": 24.024515, "relative_strength": -6.557955, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": -10.242474, "energy": 25.126161, "activity_lines": [ 26.906649, 27.341871, 27.576988, 27.340623 ] }, { "date": "2025-01-03", "close": 26.586686, "volume": 643342, "typical_volume": 366817.4, "trend": 26.831303, "fair_value": 24.01636, "relative_strength": -4.909149, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "mixed", "direction": -22.618551, "energy": 34.848763, "activity_lines": [ 26.66263, 27.169358, 27.479356, 27.331026 ] }, { "date": "2025-01-10", "close": 25.482354, "volume": 367069, "typical_volume": 380627.45, "trend": 26.879475, "fair_value": 24.002485, "relative_strength": -6.755331, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -43.612981, "energy": 63.422257, "activity_lines": [ 26.185657, 26.819399, 27.275438, 27.243997 ] }, { "date": "2025-01-17", "close": 26.473979, "volume": 419902, "typical_volume": 378746.85, "trend": 26.958776, "fair_value": 24.001926, "relative_strength": -5.667796, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -34.134278, "energy": 58.275593, "activity_lines": [ 26.200316, 26.679821, 27.17481, 27.217836 ] }, { "date": "2025-01-24", "close": 26.8834, "volume": 175785, "typical_volume": 369627.4, "trend": 27.042174, "fair_value": 24.004783, "relative_strength": -5.643152, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -30.827073, "energy": 36.015481, "activity_lines": [ 26.418203, 26.643891, 27.118525, 27.212973 ] }, { "date": "2025-01-31", "close": 26.759374, "volume": 121356, "typical_volume": 344067.25, "trend": 27.122501, "fair_value": 24.007065, "relative_strength": -4.962512, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -27.097542, "energy": 25.872085, "activity_lines": [ 26.553587, 26.596954, 27.052833, 27.194728 ] }, { "date": "2025-02-07", "close": 27.05928, "volume": 202884, "typical_volume": 343353.95, "trend": 27.180765, "fair_value": 24.013766, "relative_strength": -3.618437, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -9.934019, "energy": 9.825417, "activity_lines": [ 26.760961, 26.629923, 27.023583, 27.190649 ] }, { "date": "2025-02-14", "close": 27.117326, "volume": 87014, "typical_volume": 337685.35, "trend": 27.22775, "fair_value": 24.022169, "relative_strength": -4.682053, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -31.263478, "energy": 20.93512, "activity_lines": [ 26.956177, 26.701714, 27.00476, 27.186556 ] }, { "date": "2025-02-21", "close": 27.107652, "volume": 155612, "typical_volume": 306876.75, "trend": 27.273156, "fair_value": 24.027087, "relative_strength": -3.069213, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -28.058262, "energy": 19.277642, "activity_lines": [ 27.03917, 26.785954, 26.989587, 27.178808 ] }, { "date": "2025-02-28", "close": 27.69779, "volume": 774351, "typical_volume": 307702.7, "trend": 27.324618, "fair_value": 24.033864, "relative_strength": 0.048808, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -9.133953, "energy": 15.902318, "activity_lines": [ 27.276631, 26.984175, 27.033344, 27.206204 ] }, { "date": "2025-03-07", "close": 27.136675, "volume": 208995, "typical_volume": 307896.65, "trend": 27.351361, "fair_value": 24.039533, "relative_strength": 1.188584, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -11.595349, "energy": 14.780351, "activity_lines": [ 27.272762, 27.054343, 27.023033, 27.194079 ] }, { "date": "2025-03-14", "close": 26.353049, "volume": 166698, "typical_volume": 299190.15, "trend": 27.351363, "fair_value": 24.035879, "relative_strength": 0.569027, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -33.09067, "energy": 14.862806, "activity_lines": [ 26.98253, 26.967542, 26.943992, 27.129671 ] }, { "date": "2025-03-21", "close": 26.207933, "volume": 189012, "typical_volume": 272652.6, "trend": 27.313594, "fair_value": 24.030213, "relative_strength": -0.496765, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -47.958193, "energy": 25.587424, "activity_lines": [ 26.691008, 26.858605, 26.858356, 27.055902 ] }, { "date": "2025-03-28", "close": 26.427501, "volume": 125086, "typical_volume": 256249.8, "trend": 27.274596, "fair_value": 24.0192, "relative_strength": 1.827176, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -52.611782, "energy": 43.919868, "activity_lines": [ 26.533302, 26.776397, 26.798056, 26.998734 ] }, { "date": "2025-04-04", "close": 24.630042, "volume": 315226, "typical_volume": 264754.8, "trend": 27.182648, "fair_value": 23.998872, "relative_strength": 4.259219, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -81.583547, "energy": 75.124876, "activity_lines": [ 25.821786, 26.368223, 26.57444, 26.828118 ] }, { "date": "2025-04-11", "close": 24.552314, "volume": 417123, "typical_volume": 266686.4, "trend": 27.05392, "fair_value": 23.978949, "relative_strength": -1.647308, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -78.86631, "energy": 78.805106, "activity_lines": [ 25.288877, 25.986887, 26.357176, 26.658419 ] }, { "date": "2025-04-18", "close": 25.582209, "volume": 294476, "typical_volume": 274112.15, "trend": 26.970396, "fair_value": 23.964107, "relative_strength": 3.834865, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -63.008652, "energy": 71.155781, "activity_lines": [ 25.271557, 25.832933, 26.255152, 26.56347 ] }, { "date": "2025-04-25", "close": 25.748936, "volume": 216279, "typical_volume": 272596.65, "trend": 26.892784, "fair_value": 23.959982, "relative_strength": -0.139697, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -60.371721, "energy": 63.803383, "activity_lines": [ 25.361203, 25.736149, 26.183445, 26.484666 ] }, { "date": "2025-05-02", "close": 26.456649, "volume": 99591, "typical_volume": 266236.0, "trend": 26.851998, "fair_value": 23.968112, "relative_strength": -0.349186, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -51.37822, "energy": 33.359597, "activity_lines": [ 25.717352, 25.792919, 26.189376, 26.456528 ] }, { "date": "2025-05-09", "close": 26.359489, "volume": 79346, "typical_volume": 261568.15, "trend": 26.811784, "fair_value": 23.980727, "relative_strength": -0.323279, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -33.476294, "energy": 18.004464, "activity_lines": [ 26.039172, 25.843861, 26.190905, 26.424754 ] }, { "date": "2025-05-16", "close": 26.786992, "volume": 217952, "typical_volume": 263854.95, "trend": 26.758823, "fair_value": 24.000736, "relative_strength": -3.752402, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -16.25183, "energy": 16.819777, "activity_lines": [ 26.388196, 25.996863, 26.232702, 26.423154 ] }, { "date": "2025-05-23", "close": 25.839683, "volume": 162990, "typical_volume": 239837.35, "trend": 26.691132, "fair_value": 24.00633, "relative_strength": -4.738499, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -27.801549, "energy": 19.496032, "activity_lines": [ 26.272472, 25.983985, 26.18215, 26.363855 ] }, { "date": "2025-05-30", "close": 26.612104, "volume": 69632, "typical_volume": 224965.5, "trend": 26.673632, "fair_value": 24.01977, "relative_strength": -3.58723, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -17.292358, "energy": 14.230052, "activity_lines": [ 26.397057, 26.120882, 26.208719, 26.358756 ] }, { "date": "2025-06-06", "close": 26.738412, "volume": 53580, "typical_volume": 206649.4, "trend": 26.628898, "fair_value": 24.042816, "relative_strength": -4.692852, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -4.535953, "energy": 9.766195, "activity_lines": [ 26.5062, 26.273394, 26.241937, 26.362936 ] }, { "date": "2025-06-13", "close": 26.591701, "volume": 98782, "typical_volume": 202799.25, "trend": 26.598013, "fair_value": 24.07196, "relative_strength": -4.864105, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -8.380242, "energy": 9.171742, "activity_lines": [ 26.547655, 26.393579, 26.259924, 26.360536 ] }, { "date": "2025-06-20", "close": 26.622501, "volume": 123316, "typical_volume": 202897.25, "trend": 26.546925, "fair_value": 24.092963, "relative_strength": -4.600586, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 13.118867, "energy": 13.835434, "activity_lines": [ 26.583896, 26.483698, 26.282233, 26.362116 ] }, { "date": "2025-06-27", "close": 26.319113, "volume": 82621, "typical_volume": 196884.1, "trend": 26.470428, "fair_value": 24.112306, "relative_strength": -8.756389, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 9.143828, "energy": 9.237711, "activity_lines": [ 26.529973, 26.481015, 26.2763, 26.347418 ] }, { "date": "2025-07-04", "close": 26.743804, "volume": 199029, "typical_volume": 202484.85, "trend": 26.43193, "fair_value": 24.13557, "relative_strength": -8.767624, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 16.562209, "energy": 13.761934, "activity_lines": [ 26.585653, 26.542151, 26.314338, 26.365055 ] }, { "date": "2025-07-11", "close": 26.598783, "volume": 329339, "typical_volume": 211171.2, "trend": 26.402714, "fair_value": 24.158703, "relative_strength": -8.895879, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 13.211249, "energy": 11.597862, "activity_lines": [ 26.584212, 26.558831, 26.340343, 26.37582 ] }, { "date": "2025-07-18", "close": 26.625399, "volume": 126817, "typical_volume": 178794.5, "trend": 26.414694, "fair_value": 24.176986, "relative_strength": -9.194264, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 13.608384, "energy": 10.785045, "activity_lines": [ 26.600951, 26.577765, 26.371306, 26.390187 ] }, { "date": "2025-07-25", "close": 26.968382, "volume": 149766, "typical_volume": 175833.05, "trend": 26.43565, "fair_value": 24.190051, "relative_strength": -9.191606, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 33.900676, "energy": 31.396893, "activity_lines": [ 26.729772, 26.654226, 26.440041, 26.425909 ] }, { "date": "2025-08-01", "close": 26.127317, "volume": 117439, "typical_volume": 173370.1, "trend": 26.420338, "fair_value": 24.200919, "relative_strength": -9.561364, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -0.917255, "energy": 4.251625, "activity_lines": [ 26.555179, 26.574467, 26.429476, 26.406016 ] }, { "date": "2025-08-08", "close": 26.166459, "volume": 129767, "typical_volume": 170407.85, "trend": 26.443142, "fair_value": 24.204222, "relative_strength": -11.294683, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -4.660397, "energy": 4.598354, "activity_lines": [ 26.406419, 26.496596, 26.423714, 26.389637 ] }, { "date": "2025-08-15", "close": 26.372542, "volume": 98893, "typical_volume": 169098.2, "trend": 26.43976, "fair_value": 24.212212, "relative_strength": -11.202278, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -0.157741, "energy": 4.667918, "activity_lines": [ 26.364844, 26.464297, 26.437776, 26.385082 ] }, { "date": "2025-08-22", "close": 27.116143, "volume": 91312, "typical_volume": 157902.5, "trend": 26.447518, "fair_value": 24.231073, "relative_strength": -8.688353, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 29.630434, "energy": 14.086437, "activity_lines": [ 26.586218, 26.57385, 26.522919, 26.42872 ] }, { "date": "2025-08-29", "close": 27.409219, "volume": 87893, "typical_volume": 141441.0, "trend": 26.46918, "fair_value": 24.258089, "relative_strength": -7.39039, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 65.886946, "energy": 50.093798, "activity_lines": [ 26.872569, 26.727155, 26.624136, 26.490765 ] }, { "date": "2025-09-05", "close": 27.478109, "volume": 49557, "typical_volume": 129195.05, "trend": 26.483141, "fair_value": 24.279304, "relative_strength": -7.126841, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 65.400211, "energy": 65.354665, "activity_lines": [ 27.152493, 26.878681, 26.718309, 26.555857 ] }, { "date": "2025-09-12", "close": 27.699066, "volume": 101539, "typical_volume": 123458.05, "trend": 26.502532, "fair_value": 24.310466, "relative_strength": -7.475946, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 70.415519, "energy": 74.663189, "activity_lines": [ 27.416017, 27.049308, 26.824497, 26.634304 ] }, { "date": "2025-09-19", "close": 27.265372, "volume": 120950, "typical_volume": 124526.0, "trend": 26.50779, "fair_value": 24.348372, "relative_strength": -9.695731, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 60.709759, "energy": 68.948141, "activity_lines": [ 27.432802, 27.123713, 26.880095, 26.683519 ] }, { "date": "2025-09-26", "close": 27.479155, "volume": 85907, "typical_volume": 124854.05, "trend": 26.500502, "fair_value": 24.392383, "relative_strength": -8.411421, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 62.69027, "energy": 66.746792, "activity_lines": [ 27.461327, 27.224869, 26.952202, 26.746188 ] }, { "date": "2025-10-03", "close": 27.698836, "volume": 150013, "typical_volume": 121457.1, "trend": 26.51924, "fair_value": 24.441714, "relative_strength": -8.407152, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 68.360708, "energy": 62.62046, "activity_lines": [ 27.538877, 27.350443, 27.0399, 26.8235 ] }, { "date": "2025-10-10", "close": 26.763397, "volume": 68600, "typical_volume": 116737.6, "trend": 26.532919, "fair_value": 24.486196, "relative_strength": -9.029335, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 39.82982, "energy": 26.686882, "activity_lines": [ 27.285307, 27.292657, 27.034166, 26.839252 ] }, { "date": "2025-10-17", "close": 27.738223, "volume": 314357, "typical_volume": 128973.85, "trend": 26.583928, "fair_value": 24.53314, "relative_strength": -7.036605, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 64.267674, "energy": 36.886796, "activity_lines": [ 27.404326, 27.400547, 27.116874, 26.917013 ] }, { "date": "2025-10-24", "close": 28.004084, "volume": 365421, "typical_volume": 144565.9, "trend": 26.636481, "fair_value": 24.573757, "relative_strength": -7.636444, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 68.740018, "energy": 42.828738, "activity_lines": [ 27.609355, 27.528197, 27.219539, 27.008636 ] }, { "date": "2025-10-31", "close": 27.262823, "volume": 152565, "typical_volume": 147255.05, "trend": 26.724241, "fair_value": 24.612032, "relative_strength": -10.402642, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 51.487675, "energy": 30.549998, "activity_lines": [ 27.51805, 27.491408, 27.245581, 27.049046 ] }, { "date": "2025-11-07", "close": 27.638672, "volume": 84211, "typical_volume": 145299.8, "trend": 26.827119, "fair_value": 24.645028, "relative_strength": -7.413952, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 55.75803, "energy": 36.397936, "activity_lines": [ 27.56645, 27.520289, 27.304223, 27.108041 ] }, { "date": "2025-11-14", "close": 27.304967, "volume": 88682, "typical_volume": 145602.85, "trend": 26.884544, "fair_value": 24.67772, "relative_strength": -8.388811, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 48.391798, "energy": 28.46403, "activity_lines": [ 27.507626, 27.484324, 27.326244, 27.13887 ] }, { "date": "2025-11-21", "close": 27.350853, "volume": 100031, "typical_volume": 140652.95, "trend": 26.937942, "fair_value": 24.708586, "relative_strength": -6.180352, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 36.288753, "energy": 17.219871, "activity_lines": [ 27.427992, 27.45985, 27.347941, 27.168954 ] }, { "date": "2025-11-28", "close": 27.876077, "volume": 120275, "typical_volume": 130199.75, "trend": 26.985256, "fair_value": 24.741555, "relative_strength": -7.494754, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 59.781524, "energy": 30.236634, "activity_lines": [ 27.549258, 27.537203, 27.416768, 27.229479 ] }, { "date": "2025-12-05", "close": 27.423128, "volume": 251455, "typical_volume": 136431.65, "trend": 27.020711, "fair_value": 24.774145, "relative_strength": -9.046739, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 44.904366, "energy": 22.363856, "activity_lines": [ 27.528074, 27.521097, 27.436375, 27.257729 ] }, { "date": "2025-12-12", "close": 27.205318, "volume": 91295, "typical_volume": 133508.1, "trend": 27.034655, "fair_value": 24.808723, "relative_strength": -9.005488, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 29.331201, "energy": 14.695485, "activity_lines": [ 27.4236, 27.466409, 27.431439, 27.269639 ] }, { "date": "2025-12-19", "close": 27.070762, "volume": 109781, "typical_volume": 133125.2, "trend": 27.075691, "fair_value": 24.842897, "relative_strength": -9.359596, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 8.955981, "energy": 5.423285, "activity_lines": [ 27.303165, 27.396228, 27.412561, 27.271969 ] }, { "date": "2025-12-26", "close": 27.31994, "volume": 130253, "typical_volume": 133149.5, "trend": 27.099285, "fair_value": 24.879074, "relative_strength": -9.606931, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 13.573227, "energy": 11.447457, "activity_lines": [ 27.281402, 27.365764, 27.412921, 27.287727 ] }, { "date": "2026-01-02", "close": 27.268809, "volume": 89439, "typical_volume": 132676.8, "trend": 27.116965, "fair_value": 24.912663, "relative_strength": -8.611394, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 12.075315, "energy": 12.26971, "activity_lines": [ 27.244657, 27.333609, 27.402918, 27.298664 ] }, { "date": "2026-01-09", "close": 27.658823, "volume": 243013, "typical_volume": 140261.85, "trend": 27.152536, "fair_value": 24.942844, "relative_strength": -8.576407, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 25.706271, "energy": 11.273796, "activity_lines": [ 27.378401, 27.385734, 27.425792, 27.333622 ] }, { "date": "2026-01-16", "close": 28.450812, "volume": 214152, "typical_volume": 146574.8, "trend": 27.21348, "fair_value": 24.978079, "relative_strength": -5.477148, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 69.178382, "energy": 53.060604, "activity_lines": [ 27.760428, 27.574657, 27.521509, 27.417382 ] }, { "date": "2026-01-23", "close": 27.838232, "volume": 295083, "typical_volume": 158851.1, "trend": 27.264117, "fair_value": 25.004135, "relative_strength": -7.007675, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 50.027117, "energy": 50.577924, "activity_lines": [ 27.855229, 27.637436, 27.553926, 27.457689 ] }, { "date": "2026-01-30", "close": 28.01764, "volume": 64859, "typical_volume": 157017.1, "trend": 27.306578, "fair_value": 25.028327, "relative_strength": -6.593067, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 58.579187, "energy": 60.620183, "activity_lines": [ 27.958668, 27.723139, 27.601713, 27.506303 ] }, { "date": "2026-02-06", "close": 28.874815, "volume": 193363, "typical_volume": 160637.75, "trend": 27.382446, "fair_value": 25.06098, "relative_strength": -3.386098, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 80.65968, "energy": 77.314183, "activity_lines": [ 28.301319, 27.952568, 27.72962, 27.60748 ] }, { "date": "2026-02-13", "close": 29.711955, "volume": 67016, "typical_volume": 159693.2, "trend": 27.485331, "fair_value": 25.100322, "relative_strength": 0.77177, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 89.421593, "energy": 86.120574, "activity_lines": [ 28.815949, 28.316046, 27.92959, 27.757771 ] }, { "date": "2026-02-20", "close": 29.805048, "volume": 88300, "typical_volume": 156607.55, "trend": 27.579887, "fair_value": 25.144863, "relative_strength": 0.071852, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 85.475445, "energy": 90.588823, "activity_lines": [ 29.224734, 28.654834, 28.127794, 27.90743 ] }, { "date": "2026-02-27", "close": 30.131173, "volume": 90874, "typical_volume": 157721.25, "trend": 27.713348, "fair_value": 25.189731, "relative_strength": 1.820883, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 84.003608, "energy": 93.481537, "activity_lines": [ 29.651946, 29.005651, 28.347028, 28.072029 ] }, { "date": "2026-03-06", "close": 29.462876, "volume": 111650, "typical_volume": 147585.9, "trend": 27.823229, "fair_value": 25.241151, "relative_strength": 1.752554, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 67.562303, "energy": 86.461475, "activity_lines": [ 29.703529, 29.179314, 28.486577, 28.184902 ] }, { "date": "2026-03-13", "close": 29.114026, "volume": 152891, "typical_volume": 136959.4, "trend": 27.914612, "fair_value": 25.291725, "relative_strength": 2.235421, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 64.442141, "energy": 64.113538, "activity_lines": [ 29.54248, 29.250589, 28.58469, 28.268179 ] }, { "date": "2026-03-20", "close": 28.076945, "volume": 99896, "typical_volume": 134325.95, "trend": 27.946638, "fair_value": 25.337269, "relative_strength": 0.567652, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 38.912885, "energy": 31.854069, "activity_lines": [ 29.01979, 29.099753, 28.578748, 28.278652 ] }, { "date": "2026-03-27", "close": 27.95, "volume": 72212, "typical_volume": 133726.0, "trend": 27.964665, "fair_value": 25.373922, "relative_strength": 2.583682, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 21.116062, "energy": 20.635914, "activity_lines": [ 28.563786, 28.918235, 28.556839, 28.278869 ] }, { "date": "2026-04-03", "close": 28.888, "volume": 83842, "typical_volume": 133484.0, "trend": 28.011661, "fair_value": 25.417993, "relative_strength": 2.753466, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 26.122887, "energy": 24.10951, "activity_lines": [ 28.544118, 28.916367, 28.622781, 28.338439 ] }, { "date": "2026-04-10", "close": 29.76, "volume": 71423, "typical_volume": 132053.6, "trend": 28.080359, "fair_value": 25.470345, "relative_strength": 2.29817, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 46.973849, "energy": 26.115653, "activity_lines": [ 28.897994, 29.053958, 28.764232, 28.451235 ] }, { "date": "2026-04-17", "close": 30.86, "volume": 202864, "typical_volume": 136183.05, "trend": 28.20018, "fair_value": 25.526761, "relative_strength": 1.756891, "stage": 2, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "up", "direction": 75.563867, "energy": 48.161332, "activity_lines": [ 29.59873, 29.35987, 28.998973, 28.630567 ] }, { "date": "2026-04-24", "close": 30.250978, "volume": 271807, "typical_volume": 137200.65, "trend": 28.292574, "fair_value": 25.577228, "relative_strength": -0.561609, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 64.100961, "energy": 68.529868, "activity_lines": [ 29.980059, 29.518957, 29.161503, 28.762876 ] }, { "date": "2026-05-01", "close": 30.655618, "volume": 102176, "typical_volume": 137744.7, "trend": 28.391133, "fair_value": 25.629644, "relative_strength": 0.0414, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 69.353503, "energy": 77.375433, "activity_lines": [ 30.351333, 29.741814, 29.349104, 28.915331 ] }, { "date": "2026-05-08", "close": 30.9093, "volume": 77366, "typical_volume": 136123.95, "trend": 28.52933, "fair_value": 25.685759, "relative_strength": -1.212788, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 72.727036, "energy": 81.439123, "activity_lines": [ 30.626794, 29.99533, 29.544435, 29.077793 ] }, { "date": "2026-05-15", "close": 30.2471, "volume": 209217, "typical_volume": 140072.15, "trend": 28.612959, "fair_value": 25.740465, "relative_strength": -3.326911, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 63.790887, "energy": 70.067065, "activity_lines": [ 30.546767, 30.114298, 29.658421, 29.188617 ] }, { "date": "2026-05-22", "close": 31.10441, "volume": 88490, "typical_volume": 140024.7, "trend": 28.716303, "fair_value": 25.802135, "relative_strength": -1.296269, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 73.292769, "energy": 65.398946, "activity_lines": [ 30.720038, 30.374883, 29.840116, 29.349356 ] }, { "date": "2026-05-29", "close": 30.718367, "volume": 101051, "typical_volume": 132926.6, "trend": 28.831488, "fair_value": 25.856593, "relative_strength": -3.696263, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 60.927205, "energy": 49.225505, "activity_lines": [ 30.748333, 30.529088, 29.966781, 29.478521 ] }, { "date": "2026-06-05", "close": 30.987861, "volume": 57140, "typical_volume": 125076.0, "trend": 28.943128, "fair_value": 25.911199, "relative_strength": -0.215732, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 63.694099, "energy": 47.612312, "activity_lines": [ 30.8353, 30.684267, 30.104543, 29.617642 ] }, { "date": "2026-06-12", "close": 31.673033, "volume": 159845, "typical_volume": 118314.1, "trend": 29.08873, "fair_value": 25.968499, "relative_strength": 1.522189, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 74.147435, "energy": 54.845821, "activity_lines": [ 31.128509, 30.908789, 30.295477, 29.793765 ] }, { "date": "2026-06-19", "close": 30.797922, "volume": 59880, "typical_volume": 118065.15, "trend": 29.203632, "fair_value": 26.027022, "relative_strength": -2.010825, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 58.547945, "energy": 46.03546, "activity_lines": [ 31.079098, 30.923563, 30.384807, 29.904035 ] }, { "date": "2026-06-26", "close": 32.2218, "volume": 126113, "typical_volume": 114702.65, "trend": 29.34849, "fair_value": 26.0875, "relative_strength": 4.971313, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 78.005149, "energy": 58.676048, "activity_lines": [ 31.467592, 31.178352, 30.596505, 30.098756 ] }, { "date": "2026-07-03", "close": 32.1483, "volume": 72933, "typical_volume": 114998.5, "trend": 29.505995, "fair_value": 26.147216, "relative_strength": 2.514955, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 72.32572, "energy": 68.33733, "activity_lines": [ 31.757093, 31.395018, 30.785265, 30.279389 ] }, { "date": "2026-07-10", "close": 31.85, "volume": 163461, "typical_volume": 118756.55, "trend": 29.660818, "fair_value": 26.200702, "relative_strength": 0.238384, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 62.099209, "energy": 59.705736, "activity_lines": [ 31.851832, 31.52295, 30.934014, 30.430615 ] }, { "date": "2026-07-17", "close": 32.86, "volume": 87426, "typical_volume": 118584.15, "trend": 29.853793, "fair_value": 26.259208, "relative_strength": 4.976316, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 79.28039, "energy": 78.8754, "activity_lines": [ 32.225761, 31.812803, 31.169215, 30.637014 ] }, { "date": "2026-07-24", "close": 33.342, "volume": 397023, "typical_volume": 132852.8, "trend": 30.054528, "fair_value": 26.323741, "relative_strength": 7.031032, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 80.769572, "energy": 84.697962, "activity_lines": [ 32.681227, 32.154825, 31.437327, 30.862059 ] }, { "date": "2026-07-31", "close": 32.38, "volume": 121534, "typical_volume": 131284.95, "trend": 30.224901, "fair_value": 26.385073, "relative_strength": 2.775731, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 63.606632, "energy": 64.157841, "activity_lines": [ 32.64642, 32.265667, 31.595348, 31.01209 ] }, { "date": "2026-08-07", "close": 32.15, "volume": 409575, "typical_volume": 146768.9, "trend": 30.374607, "fair_value": 26.444517, "relative_strength": -1.4184, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 61.121879, "energy": 52.80773, "activity_lines": [ 32.5244, 32.311498, 31.715911, 31.13629 ] } ], "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." } } }