{ "ticker": { "uuid": "2ae9c416-22ce-4176-8dcc-974cdc4f5061", "symbol": "CEM", "name": "Cementir Holding N.V.", "exchange": "MIL", "country": "IT", "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": "FTSEMIB.MI", "stage": 4, "stage_name": "Declining", "phase": "4b", "phase_label": "Stage 4B \u00b7 Declining", "transition": "stage_4_declining", "transition_label": "Stage 4 decline intact", "confidence": 96.0, "architecture_regime": "balance", "architecture_regime_label": "Balance", "architecture_modifier": "Balance after decline", "architecture_gate": "down", "architecture_direction": -25.388, "architecture_energy": 12.777, "architecture_maturity": 19.761, "architecture_confidence": 62.577, "architecture_tenure": "New", "architecture": { "interpretation": { "headline": "Directional pressure has compressed into balance.", "body": "Trend and Activity are compressed into balance, so neither side has durable control. Prior structure and the next directional change provide context; balance alone is not assumed to be a base." }, "scores": { "balance": 60.12, "rotation_up": 25.58, "upward_expansion": 16.0, "deceleration": 57.17, "rotation_down": 33.17, "downward_expansion": 59.0 }, "activity_lines": [ 14.836667, 14.870545, 14.805121, 14.947716 ], "activity_state": "Compressed", "activity_direction": "Contracting", "rotation_direction": "Improving", "price_acceptance": 0.0 }, "latest_close": 15.07, "trend_reference": 15.496338, "distance_from_trend": -0.027512, "trend_direction": "Weakening", "fair_value": 11.972708, "distance_from_fair_value": 0.258696, "fair_value_direction": "Improving", "relative_strength": -17.235184, "relative_strength_direction": "Improving", "price_momentum": -0.189736, "excess_performance": -0.360628, "evidence": [ { "label": "Price vs Trend", "positive": false, "value": -0.027512, "read": "Below" }, { "label": "Trend direction", "positive": false, "value": -0.050131, "read": "Falling" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.258696, "read": "Premium" }, { "label": "Fair Value direction", "positive": true, "value": 0.028214, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.172352, "read": "Lagging" }, { "label": "Relative strength direction", "positive": true, "value": 0.027747, "read": "Improving" }, { "label": "Price momentum", "positive": false, "value": -0.189736, "read": "Negative" }, { "label": "Volume balance", "positive": false, "value": 0.558054, "read": "Supply-led" } ], "volume": { "latest": 593205, "relative_activity": 0.833994, "balance": 0.558054, "dry_up": 0.95079, "accumulation_observations": 2, "distribution_observations": 4 }, "risk": { "range_context": 0.061816, "annualized_volatility": 0.365568, "from_high_reference": -0.256279, "from_low_reference": 0.178792 }, "levels": { "trend_reference": 15.496338, "fair_value_reference": 11.972708, "structural_low": 13.03, "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": 12, "median_return": 0.034798, "positive_rate": 0.75, "directional_follow_through": 0.75, "median_excess_return": -0.004324, "regime_survival": 0.583333, "best_return": 0.149484, "worst_return": -0.09901, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 6, "median_return": 0.17366, "positive_rate": 0.833333, "directional_follow_through": 0.833333, "median_excess_return": 0.144223, "regime_survival": 0.166667, "best_return": 0.283505, "worst_return": -0.158416, "sufficient": true }, { "horizon": "Extended", "sample_count": 5, "median_return": 0.148069, "positive_rate": 0.8, "directional_follow_through": 0.8, "median_excess_return": 0.016731, "regime_survival": 0.0, "best_return": 0.271907, "worst_return": -0.269527, "sufficient": true }, { "horizon": "Full cycle", "sample_count": 3, "median_return": 0.629983, "positive_rate": 0.666667, "directional_follow_through": 0.666667, "median_excess_return": 0.358813, "regime_survival": 0.0, "best_return": 0.63055, "worst_return": -0.347412, "sufficient": false } ], "ledger": [ { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2024-02-23", "end": "2024-03-29", "tenure": "Developing", "return": 0.126882, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2024-04-05", "end": "2024-06-21", "tenure": "Developing", "return": -0.04659, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2024-06-28", "end": "2024-11-22", "tenure": "Established", "return": 0.193133, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2024-11-29", "end": "2025-01-03", "tenure": "Developing", "return": -0.039855, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2025-01-10", "end": "2025-01-24", "tenure": "New", "return": 0.113852, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-01-31", "end": "2025-08-15", "tenure": "Extended", "return": 0.146753, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2025-08-22", "end": "2025-08-29", "tenure": "New", "return": 0.020349, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-09-05", "end": "2025-10-10", "tenure": "Developing", "return": 0.134094, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-10-17", "end": "2026-02-13", "tenure": "Established", "return": 0.060102, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2026-02-20", "end": "2026-03-06", "tenure": "New", "return": -0.104242, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2026-03-13", "end": "2026-04-10", "tenure": "Developing", "return": 0.145317, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2026-04-17", "end": "2026-04-24", "tenure": "New", "return": -0.035693, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2026-05-01", "end": "2026-07-10", "tenure": "Developing", "return": -0.024807, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-07-17", "end": "2026-08-07", "tenure": "New", "return": 0.014132, "active": true } ], "chart_path": [ { "date": "2023-08-18", "close": 7.62902, "volume": 195133, "typical_volume": 280471.55, "trend": 7.121254, "fair_value": 6.641819, "relative_strength": 10.795491, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 64.606289, "energy": 78.274552, "activity_lines": [ 7.742318, 7.51306, 7.261298, 7.198995 ] }, { "date": "2023-08-25", "close": 7.647695, "volume": 213443, "typical_volume": 281605.95, "trend": 7.165794, "fair_value": 6.657751, "relative_strength": 9.087798, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 61.810303, "energy": 68.826589, "activity_lines": [ 7.718663, 7.57452, 7.309408, 7.232959 ] }, { "date": "2023-09-01", "close": 7.572992, "volume": 168225, "typical_volume": 280214.9, "trend": 7.196659, "fair_value": 6.673316, "relative_strength": 6.148545, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 56.762965, "energy": 43.098657, "activity_lines": [ 7.654543, 7.608306, 7.347624, 7.25923 ] }, { "date": "2023-09-08", "close": 7.479614, "volume": 156360, "typical_volume": 280260.8, "trend": 7.205066, "fair_value": 6.687613, "relative_strength": 6.124139, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 42.188858, "energy": 29.811987, "activity_lines": [ 7.575482, 7.610683, 7.375129, 7.277485 ] }, { "date": "2023-09-15", "close": 7.059411, "volume": 407543, "typical_volume": 292939.8, "trend": 7.199467, "fair_value": 6.698994, "relative_strength": -2.27069, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 17.167277, "energy": 16.365316, "activity_lines": [ 7.390593, 7.526643, 7.360507, 7.268088 ] }, { "date": "2023-09-22", "close": 7.022059, "volume": 236392, "typical_volume": 297451.9, "trend": 7.187484, "fair_value": 6.710805, "relative_strength": -1.773739, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 6.833486, "energy": 18.564199, "activity_lines": [ 7.238697, 7.429529, 7.341572, 7.256642 ] }, { "date": "2023-09-29", "close": 7.003384, "volume": 268512, "typical_volume": 295535.5, "trend": 7.172158, "fair_value": 6.723665, "relative_strength": -0.898784, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -13.554716, "energy": 25.950512, "activity_lines": [ 7.121041, 7.332415, 7.321448, 7.244765 ] }, { "date": "2023-10-06", "close": 6.89133, "volume": 222867, "typical_volume": 298360.7, "trend": 7.159142, "fair_value": 6.735194, "relative_strength": -1.072405, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -29.605027, "energy": 36.555621, "activity_lines": [ 7.008987, 7.222399, 7.290856, 7.226647 ] }, { "date": "2023-10-13", "close": 7.255506, "volume": 268050, "typical_volume": 294995.9, "trend": 7.164915, "fair_value": 6.748445, "relative_strength": 2.393111, "stage": 2, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -19.691938, "energy": 28.717275, "activity_lines": [ 7.063769, 7.195404, 7.295036, 7.232864 ] }, { "date": "2023-10-20", "close": 7.330208, "volume": 451167, "typical_volume": 307261.75, "trend": 7.175597, "fair_value": 6.762732, "relative_strength": 6.506307, "stage": 2, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -11.386911, "energy": 16.583847, "activity_lines": [ 7.158392, 7.195404, 7.304151, 7.243528 ] }, { "date": "2023-10-27", "close": 7.246168, "volume": 296560, "typical_volume": 307518.95, "trend": 7.178641, "fair_value": 6.778709, "relative_strength": 5.287285, "stage": 2, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 18.668602, "energy": 12.016411, "activity_lines": [ 7.206949, 7.187594, 7.302951, 7.248081 ] }, { "date": "2023-11-03", "close": 7.647695, "volume": 264706, "typical_volume": 305573.75, "trend": 7.198092, "fair_value": 6.796424, "relative_strength": 5.480404, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 51.894526, "energy": 33.175282, "activity_lines": [ 7.374408, 7.25975, 7.337945, 7.278342 ] }, { "date": "2023-11-10", "close": 7.937168, "volume": 1079030, "typical_volume": 351610.6, "trend": 7.22296, "fair_value": 6.809699, "relative_strength": 9.764509, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 64.369551, "energy": 49.552471, "activity_lines": [ 7.595403, 7.384538, 7.396818, 7.326025 ] }, { "date": "2023-11-17", "close": 8.030547, "volume": 507618, "typical_volume": 369587.6, "trend": 7.25608, "fair_value": 6.822013, "relative_strength": 7.013154, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 77.515139, "energy": 76.421262, "activity_lines": [ 7.777802, 7.519682, 7.459071, 7.378127 ] }, { "date": "2023-11-24", "close": 8.329357, "volume": 629628, "typical_volume": 391272.25, "trend": 7.303694, "fair_value": 6.835797, "relative_strength": 10.836865, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 85.098248, "energy": 86.907942, "activity_lines": [ 8.008136, 7.699138, 7.544534, 7.447371 ] }, { "date": "2023-12-01", "close": 8.329357, "volume": 620584, "typical_volume": 397200.65, "trend": 7.343146, "fair_value": 6.85114, "relative_strength": 8.591279, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 77.597943, "energy": 87.399545, "activity_lines": [ 8.171859, 7.855504, 7.622305, 7.513543 ] }, { "date": "2023-12-08", "close": 8.133263, "volume": 301363, "typical_volume": 395130.45, "trend": 7.379388, "fair_value": 6.865728, "relative_strength": 4.076723, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 66.471275, "energy": 81.033045, "activity_lines": [ 8.198005, 7.952448, 7.676064, 7.564518 ] }, { "date": "2023-12-15", "close": 8.432074, "volume": 538537, "typical_volume": 382626.05, "trend": 7.430123, "fair_value": 6.882622, "relative_strength": 7.639611, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 75.914264, "energy": 83.018783, "activity_lines": [ 8.291384, 8.083178, 7.754858, 7.632433 ] }, { "date": "2023-12-22", "close": 9.001682, "volume": 903533, "typical_volume": 401496.85, "trend": 7.503581, "fair_value": 6.903222, "relative_strength": 14.43339, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 88.857775, "energy": 85.631463, "activity_lines": [ 8.541638, 8.289459, 7.884965, 7.733824 ] }, { "date": "2023-12-29", "close": 8.908304, "volume": 171585, "typical_volume": 395041.8, "trend": 7.57237, "fair_value": 6.92328, "relative_strength": 12.759436, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 79.437177, "energy": 81.90145, "activity_lines": [ 8.696024, 8.447014, 8.001377, 7.824451 ] }, { "date": "2024-01-05", "close": 8.721547, "volume": 486120, "typical_volume": 409591.15, "trend": 7.635867, "fair_value": 6.940079, "relative_strength": 9.584204, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 65.531014, "energy": 74.538244, "activity_lines": [ 8.749561, 8.541921, 8.094444, 7.898592 ] }, { "date": "2024-01-12", "close": 8.917642, "volume": 305124, "typical_volume": 414175.2, "trend": 7.704033, "fair_value": 6.958135, "relative_strength": 11.367044, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 70.234459, "energy": 77.168046, "activity_lines": [ 8.842317, 8.645656, 8.200984, 7.981287 ] }, { "date": "2024-01-19", "close": 8.833601, "volume": 355880, "typical_volume": 423557.95, "trend": 7.772511, "fair_value": 6.976823, "relative_strength": 10.455219, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 64.420873, "energy": 60.199635, "activity_lines": [ 8.854767, 8.711021, 8.293474, 8.054162 ] }, { "date": "2024-01-26", "close": 9.300494, "volume": 445606, "typical_volume": 438020.25, "trend": 7.851571, "fair_value": 6.99867, "relative_strength": 15.363334, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 79.807143, "energy": 64.951871, "activity_lines": [ 8.99608, 8.844976, 8.424426, 8.152742 ] }, { "date": "2024-02-02", "close": 9.104399, "volume": 422058, "typical_volume": 438746.0, "trend": 7.931254, "fair_value": 7.013021, "relative_strength": 11.283462, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 67.045015, "energy": 60.14917, "activity_lines": [ 9.052107, 8.920189, 8.528031, 8.233569 ] }, { "date": "2024-02-09", "close": 8.534791, "volume": 1265957, "typical_volume": 490224.25, "trend": 7.975453, "fair_value": 7.019821, "relative_strength": 2.788585, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 59.391893, "energy": 48.188785, "activity_lines": [ 8.905192, 8.877744, 8.567651, 8.272507 ] }, { "date": "2024-02-16", "close": 8.301344, "volume": 601564, "typical_volume": 506876.85, "trend": 8.005023, "fair_value": 7.027185, "relative_strength": -1.846007, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 44.414547, "energy": 32.607337, "activity_lines": [ 8.692911, 8.789119, 8.577833, 8.293532 ] }, { "date": "2024-02-23", "close": 8.684196, "volume": 401164, "typical_volume": 515791.7, "trend": 8.033971, "fair_value": 7.03862, "relative_strength": -0.304541, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 37.390832, "energy": 22.254404, "activity_lines": [ 8.649335, 8.767048, 8.618297, 8.33735 ] }, { "date": "2024-03-01", "close": 8.702871, "volume": 353573, "typical_volume": 520067.85, "trend": 8.057626, "fair_value": 7.049116, "relative_strength": -0.768574, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 33.224071, "energy": 24.264189, "activity_lines": [ 8.621943, 8.743788, 8.652002, 8.380505 ] }, { "date": "2024-03-08", "close": 8.525452, "volume": 598038, "typical_volume": 527411.4, "trend": 8.083772, "fair_value": 7.05619, "relative_strength": -4.078321, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 29.906292, "energy": 20.5114, "activity_lines": [ 8.575254, 8.693703, 8.661918, 8.410687 ] }, { "date": "2024-03-15", "close": 8.674857, "volume": 1920571, "typical_volume": 608611.95, "trend": 8.118634, "fair_value": 7.065002, "relative_strength": -3.784365, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 21.763766, "energy": 13.227062, "activity_lines": [ 8.616963, 8.677744, 8.680372, 8.448822 ] }, { "date": "2024-03-22", "close": 9.263143, "volume": 628137, "typical_volume": 626783.5, "trend": 8.172482, "fair_value": 7.076582, "relative_strength": 1.539388, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 66.865399, "energy": 38.089677, "activity_lines": [ 8.845429, 8.769595, 8.748049, 8.522661 ] }, { "date": "2024-03-29", "close": 9.786061, "volume": 697217, "typical_volume": 607692.85, "trend": 8.246251, "fair_value": 7.089509, "relative_strength": 5.882199, "stage": 2, "regime": "deceleration", "modifier": "Re-acceleration watch", "gate": "up", "direction": 79.239389, "energy": 66.924615, "activity_lines": [ 9.184082, 8.950239, 8.857835, 8.626763 ] }, { "date": "2024-04-05", "close": 9.543278, "volume": 336103, "typical_volume": 599117.1, "trend": 8.31504, "fair_value": 7.099375, "relative_strength": 5.338857, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 69.364358, "energy": 75.100233, "activity_lines": [ 9.368349, 9.069424, 8.935695, 8.710442 ] }, { "date": "2024-04-12", "close": 9.393872, "volume": 276294, "typical_volume": 581450.4, "trend": 8.392855, "fair_value": 7.109064, "relative_strength": 4.296029, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 61.596795, "energy": 74.483095, "activity_lines": [ 9.446787, 9.15703, 8.992122, 8.780044 ] }, { "date": "2024-04-19", "close": 9.05771, "volume": 237557, "typical_volume": 562299.05, "trend": 8.46071, "fair_value": 7.11643, "relative_strength": -0.001194, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 58.942177, "energy": 61.787998, "activity_lines": [ 9.355276, 9.178253, 9.011465, 8.822938 ] }, { "date": "2024-04-26", "close": 9.216453, "volume": 186274, "typical_volume": 556544.6, "trend": 8.534479, "fair_value": 7.123811, "relative_strength": 0.673746, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 55.31703, "energy": 39.390064, "activity_lines": [ 9.291156, 9.21883, 9.042458, 8.871696 ] }, { "date": "2024-05-03", "close": 9.272481, "volume": 182888, "typical_volume": 538762.15, "trend": 8.613851, "fair_value": 7.13027, "relative_strength": 3.049005, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 43.989277, "energy": 28.638336, "activity_lines": [ 9.248825, 9.252956, 9.073629, 8.919309 ] }, { "date": "2024-05-10", "close": 9.674007, "volume": 975429, "typical_volume": 542356.95, "trend": 8.694467, "fair_value": 7.139303, "relative_strength": 4.161491, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 69.745897, "energy": 40.799971, "activity_lines": [ 9.374574, 9.34939, 9.139038, 8.987706 ] }, { "date": "2024-05-17", "close": 9.655332, "volume": 3478165, "typical_volume": 707685.95, "trend": 8.771972, "fair_value": 7.148669, "relative_strength": 1.623288, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 65.885185, "energy": 44.566026, "activity_lines": [ 9.485383, 9.424772, 9.199467, 9.049697 ] }, { "date": "2024-05-24", "close": 9.885677, "volume": 415453, "typical_volume": 704152.6, "trend": 8.859955, "fair_value": 7.159059, "relative_strength": 6.541512, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 73.246343, "energy": 66.062106, "activity_lines": [ 9.655543, 9.521492, 9.278277, 9.121549 ] }, { "date": "2024-05-31", "close": 9.674527, "volume": 438080, "typical_volume": 710800.4, "trend": 8.927516, "fair_value": 7.166455, "relative_strength": 4.057413, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 60.977268, "energy": 64.431518, "activity_lines": [ 9.700122, 9.557805, 9.331433, 9.174102 ] }, { "date": "2024-06-07", "close": 9.616941, "volume": 235710, "typical_volume": 704791.9, "trend": 8.983509, "fair_value": 7.17467, "relative_strength": 2.742386, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 59.118154, "energy": 51.468706, "activity_lines": [ 9.694968, 9.576169, 9.375501, 9.218581 ] }, { "date": "2024-06-14", "close": 9.444181, "volume": 289464, "typical_volume": 696984.8, "trend": 9.03063, "fair_value": 7.184322, "relative_strength": 6.736246, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 53.871174, "energy": 36.226439, "activity_lines": [ 9.609262, 9.566197, 9.399386, 9.248302 ] }, { "date": "2024-06-21", "close": 9.098661, "volume": 280892, "typical_volume": 689926.5, "trend": 9.056273, "fair_value": 7.191476, "relative_strength": 0.671474, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 25.421173, "energy": 13.878087, "activity_lines": [ 9.423706, 9.495205, 9.389679, 9.252691 ] }, { "date": "2024-06-28", "close": 8.945098, "volume": 305936, "typical_volume": 641925.45, "trend": 9.076798, "fair_value": 7.199964, "relative_strength": -0.736395, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 8.155969, "energy": 14.726871, "activity_lines": [ 9.224072, 9.40166, 9.365375, 9.245518 ] }, { "date": "2024-07-05", "close": 9.242628, "volume": 297663, "typical_volume": 626730.4, "trend": 9.113777, "fair_value": 7.207928, "relative_strength": -0.165058, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 8.522956, "energy": 17.679923, "activity_lines": [ 9.186321, 9.364258, 9.367453, 9.256217 ] }, { "date": "2024-07-12", "close": 9.693723, "volume": 386558, "typical_volume": 626000.1, "trend": 9.155832, "fair_value": 7.220084, "relative_strength": 2.702992, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 37.374301, "energy": 21.595986, "activity_lines": [ 9.327728, 9.408398, 9.408011, 9.293633 ] }, { "date": "2024-07-19", "close": 9.597745, "volume": 429434, "typical_volume": 629793.15, "trend": 9.175701, "fair_value": 7.230325, "relative_strength": 2.600577, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 38.012042, "energy": 16.424008, "activity_lines": [ 9.432024, 9.427429, 9.43462, 9.322144 ] }, { "date": "2024-07-26", "close": 9.482572, "volume": 221897, "typical_volume": 610986.1, "trend": 9.194843, "fair_value": 7.237396, "relative_strength": 2.468794, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 33.077918, "energy": 21.879693, "activity_lines": [ 9.487691, 9.426905, 9.445999, 9.341942 ] }, { "date": "2024-08-02", "close": 9.213836, "volume": 721862, "typical_volume": 551050.65, "trend": 9.211252, "fair_value": 7.244157, "relative_strength": 5.080143, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 24.429216, "energy": 15.987607, "activity_lines": [ 9.428185, 9.380662, 9.427226, 9.343167 ] }, { "date": "2024-08-09", "close": 8.983489, "volume": 348947, "typical_volume": 537091.15, "trend": 9.213447, "fair_value": 7.247576, "relative_strength": 3.152788, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 1.323517, "energy": 4.641069, "activity_lines": [ 9.273981, 9.304752, 9.383949, 9.328473 ] }, { "date": "2024-08-16", "close": 9.271421, "volume": 169482, "typical_volume": 510704.4, "trend": 9.228041, "fair_value": 7.255329, "relative_strength": 2.360748, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 11.947749, "energy": 13.959618, "activity_lines": [ 9.233031, 9.293758, 9.369426, 9.332213 ] }, { "date": "2024-08-23", "close": 9.49217, "volume": 233261, "typical_volume": 505562.3, "trend": 9.234431, "fair_value": 7.261953, "relative_strength": 2.822169, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 19.084638, "energy": 13.631087, "activity_lines": [ 9.293816, 9.329183, 9.378378, 9.349254 ] }, { "date": "2024-08-30", "close": 9.463376, "volume": 277714, "typical_volume": 505633.3, "trend": 9.246396, "fair_value": 7.269296, "relative_strength": 0.276843, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 20.324488, "energy": 9.61279, "activity_lines": [ 9.352042, 9.358499, 9.38483, 9.364024 ] }, { "date": "2024-09-06", "close": 9.069869, "volume": 199470, "typical_volume": 503728.95, "trend": 9.264232, "fair_value": 7.27587, "relative_strength": -0.821498, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 4.419187, "energy": 2.955989, "activity_lines": [ 9.280379, 9.309638, 9.353475, 9.352635 ] }, { "date": "2024-09-13", "close": 8.9355, "volume": 148788, "typical_volume": 501854.65, "trend": 9.285371, "fair_value": 7.282487, "relative_strength": -3.245296, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -28.003507, "energy": 18.400874, "activity_lines": [ 9.173524, 9.234078, 9.309264, 9.331427 ] }, { "date": "2024-09-20", "close": 9.386595, "volume": 225318, "typical_volume": 503976.15, "trend": 9.308784, "fair_value": 7.293353, "relative_strength": 0.827615, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -10.395493, "energy": 12.870851, "activity_lines": [ 9.220234, 9.246118, 9.309353, 9.337957 ] }, { "date": "2024-09-27", "close": 9.31941, "volume": 161844, "typical_volume": 463296.9, "trend": 9.329336, "fair_value": 7.305711, "relative_strength": -2.814049, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -13.317772, "energy": 18.675583, "activity_lines": [ 9.23687, 9.251528, 9.3025, 9.338643 ] }, { "date": "2024-10-04", "close": 9.127456, "volume": 186443, "typical_volume": 298710.8, "trend": 9.349402, "fair_value": 7.315481, "relative_strength": -1.769157, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -46.426858, "energy": 27.542549, "activity_lines": [ 9.201038, 9.227097, 9.279054, 9.325618 ] }, { "date": "2024-10-11", "close": 9.127456, "volume": 123071, "typical_volume": 284091.7, "trend": 9.364489, "fair_value": 7.323555, "relative_strength": -3.874266, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -47.222217, "energy": 20.293996, "activity_lines": [ 9.187602, 9.209124, 9.258122, 9.311299 ] }, { "date": "2024-10-18", "close": 9.290618, "volume": 121874, "typical_volume": 268281.4, "trend": 9.365405, "fair_value": 7.331487, "relative_strength": -4.619457, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -32.878767, "energy": 14.973469, "activity_lines": [ 9.224713, 9.222386, 9.25634, 9.306533 ] }, { "date": "2024-10-25", "close": 9.23303, "volume": 206023, "typical_volume": 266797.05, "trend": 9.34697, "fair_value": 7.339276, "relative_strength": -4.043711, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -40.785035, "energy": 18.333958, "activity_lines": [ 9.218954, 9.219594, 9.250901, 9.297993 ] }, { "date": "2024-11-01", "close": 9.204238, "volume": 173843, "typical_volume": 261016.0, "trend": 9.335669, "fair_value": 7.346881, "relative_strength": -4.058629, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -34.617144, "energy": 15.245052, "activity_lines": [ 9.213835, 9.212265, 9.244548, 9.288785 ] }, { "date": "2024-11-08", "close": 10.020045, "volume": 399086, "typical_volume": 266925.7, "trend": 9.356541, "fair_value": 7.359772, "relative_strength": 6.965404, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 28.340084, "energy": 27.47869, "activity_lines": [ 9.488331, 9.358499, 9.317034, 9.332938 ] }, { "date": "2024-11-15", "close": 10.096828, "volume": 376521, "typical_volume": 270454.95, "trend": 9.391179, "fair_value": 7.374738, "relative_strength": 6.432573, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 42.277603, "energy": 54.06868, "activity_lines": [ 9.728914, 9.508573, 9.392445, 9.380698 ] }, { "date": "2024-11-22", "close": 10.672692, "volume": 494782, "typical_volume": 280310.9, "trend": 9.43972, "fair_value": 7.396845, "relative_strength": 14.56101, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 83.323495, "energy": 81.892771, "activity_lines": [ 10.096828, 9.744678, 9.517215, 9.463377 ] }, { "date": "2024-11-29", "close": 10.595911, "volume": 461022, "typical_volume": 284034.1, "trend": 9.483834, "fair_value": 7.418629, "relative_strength": 13.704208, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 75.922345, "energy": 84.734263, "activity_lines": [ 10.347009, 9.935237, 9.627864, 9.53797 ] }, { "date": "2024-12-06", "close": 10.80706, "volume": 229385, "typical_volume": 274031.65, "trend": 9.521603, "fair_value": 7.441767, "relative_strength": 11.181375, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 77.452501, "energy": 88.75683, "activity_lines": [ 10.576715, 10.142199, 9.754325, 9.623339 ] }, { "date": "2024-12-13", "close": 10.615107, "volume": 273745, "typical_volume": 276624.05, "trend": 9.553595, "fair_value": 7.463787, "relative_strength": 8.572613, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 66.975421, "energy": 83.395772, "activity_lines": [ 10.635581, 10.287212, 9.856747, 9.693888 ] }, { "date": "2024-12-20", "close": 10.327173, "volume": 280719, "typical_volume": 254566.9, "trend": 9.568312, "fair_value": 7.482662, "relative_strength": 9.071132, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 64.164251, "energy": 70.860541, "activity_lines": [ 10.558799, 10.352826, 9.926353, 9.743796 ] }, { "date": "2024-12-27", "close": 10.269587, "volume": 94155, "typical_volume": 241827.3, "trend": 9.588147, "fair_value": 7.50111, "relative_strength": 7.156439, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 60.243535, "energy": 49.478418, "activity_lines": [ 10.447465, 10.386156, 9.985174, 9.789039 ] }, { "date": "2025-01-03", "close": 10.17361, "volume": 98917, "typical_volume": 238299.05, "trend": 9.606703, "fair_value": 7.519452, "relative_strength": 6.173241, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 45.359924, "energy": 34.888247, "activity_lines": [ 10.331013, 10.384237, 10.028729, 9.826811 ] }, { "date": "2025-01-10", "close": 10.116023, "volume": 158835, "typical_volume": 234577.75, "trend": 9.629098, "fair_value": 7.537029, "relative_strength": 2.708725, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 38.856596, "energy": 23.745897, "activity_lines": [ 10.223518, 10.354745, 10.062504, 9.859671 ] }, { "date": "2025-01-17", "close": 10.922234, "volume": 306362, "typical_volume": 236010.15, "trend": 9.689883, "fair_value": 7.561131, "relative_strength": 7.222846, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 60.58295, "energy": 36.080503, "activity_lines": [ 10.430829, 10.45526, 10.170091, 9.943099 ] }, { "date": "2025-01-24", "close": 11.267752, "volume": 300874, "typical_volume": 241080.35, "trend": 9.767305, "fair_value": 7.590106, "relative_strength": 10.780764, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 77.402711, "energy": 52.507532, "activity_lines": [ 10.732838, 10.602193, 10.303636, 10.044897 ] }, { "date": "2025-01-31", "close": 11.267752, "volume": 231696, "typical_volume": 245225.75, "trend": 9.834809, "fair_value": 7.618741, "relative_strength": 9.863206, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 73.921679, "energy": 69.625061, "activity_lines": [ 10.972142, 10.727836, 10.426716, 10.1417 ] }, { "date": "2025-02-07", "close": 11.728445, "volume": 348984, "typical_volume": 251409.05, "trend": 9.902633, "fair_value": 7.648577, "relative_strength": 12.226138, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 82.093082, "energy": 86.839433, "activity_lines": [ 11.298465, 10.926422, 10.582565, 10.26387 ] }, { "date": "2025-02-14", "close": 12.55385, "volume": 899550, "typical_volume": 288294.35, "trend": 10.00117, "fair_value": 7.684665, "relative_strength": 16.659455, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 90.873496, "energy": 95.10175, "activity_lines": [ 11.796268, 11.25449, 10.805872, 10.434916 ] }, { "date": "2025-02-21", "close": 12.496264, "volume": 705792, "typical_volume": 314261.8, "trend": 10.101627, "fair_value": 7.72338, "relative_strength": 14.322324, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 83.943232, "energy": 93.110288, "activity_lines": [ 12.112354, 11.540328, 11.008293, 10.59589 ] }, { "date": "2025-02-28", "close": 12.496264, "volume": 475751, "typical_volume": 331895.8, "trend": 10.211041, "fair_value": 7.766732, "relative_strength": 13.178707, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 76.113195, "energy": 90.189266, "activity_lines": [ 12.323505, 11.791964, 11.194673, 10.750383 ] }, { "date": "2025-03-07", "close": 13.187302, "volume": 1015199, "typical_volume": 376562.05, "trend": 10.351168, "fair_value": 7.812705, "relative_strength": 18.936824, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 85.021578, "energy": 90.771895, "activity_lines": [ 12.6831, 12.129805, 11.430823, 10.942399 ] }, { "date": "2025-03-14", "close": 13.244888, "volume": 550373, "typical_volume": 393779.55, "trend": 10.483617, "fair_value": 7.857632, "relative_strength": 18.573685, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 79.072686, "energy": 79.184337, "activity_lines": [ 12.933921, 12.425066, 11.653902, 11.129091 ] }, { "date": "2025-03-21", "close": 13.302474, "volume": 656233, "typical_volume": 417899.05, "trend": 10.610627, "fair_value": 7.904513, "relative_strength": 17.371848, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 75.495476, "energy": 69.388114, "activity_lines": [ 13.102841, 12.674956, 11.863361, 11.310953 ] }, { "date": "2025-03-28", "close": 13.148911, "volume": 349880, "typical_volume": 415438.75, "trend": 10.733478, "fair_value": 7.949278, "relative_strength": 16.460443, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 67.02126, "energy": 65.741237, "activity_lines": [ 13.170666, 12.838991, 12.03868, 11.474713 ] }, { "date": "2025-04-04", "close": 11.843617, "volume": 482949, "typical_volume": 420760.15, "trend": 10.825936, "fair_value": 7.98805, "relative_strength": 16.809945, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 61.181348, "energy": 49.539156, "activity_lines": [ 12.759882, 12.725214, 12.074786, 11.546335 ] }, { "date": "2025-04-11", "close": 12.688219, "volume": 668430, "typical_volume": 429442.55, "trend": 10.951027, "fair_value": 8.032463, "relative_strength": 26.636024, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 45.669675, "energy": 33.697296, "activity_lines": [ 12.674142, 12.754531, 12.183012, 11.666482 ] }, { "date": "2025-04-18", "close": 13.072128, "volume": 307596, "typical_volume": 421771.25, "trend": 11.073878, "fair_value": 8.077245, "relative_strength": 22.618273, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 49.971193, "energy": 32.239238, "activity_lines": [ 12.749644, 12.827822, 12.318203, 11.803327 ] }, { "date": "2025-04-25", "close": 13.667189, "volume": 182201, "typical_volume": 419412.05, "trend": 11.218804, "fair_value": 8.127311, "relative_strength": 22.732784, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 67.865477, "energy": 39.987104, "activity_lines": [ 13.035017, 12.984876, 12.498275, 11.970638 ] }, { "date": "2025-05-02", "close": 14.300639, "volume": 447125, "typical_volume": 428081.05, "trend": 11.391244, "fair_value": 8.181494, "relative_strength": 24.356571, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 75.550651, "energy": 53.582574, "activity_lines": [ 13.507226, 13.236861, 12.725056, 12.169466 ] }, { "date": "2025-05-09", "close": 13.494431, "volume": 940750, "typical_volume": 461082.6, "trend": 11.536809, "fair_value": 8.229549, "relative_strength": 13.776136, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 59.017735, "energy": 54.751557, "activity_lines": [ 13.633917, 13.309455, 12.857505, 12.305155 ] }, { "date": "2025-05-16", "close": 13.763166, "volume": 417737, "typical_volume": 477261.7, "trend": 11.685894, "fair_value": 8.280513, "relative_strength": 11.90157, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 61.057213, "energy": 57.459244, "activity_lines": [ 13.740132, 13.412761, 13.000465, 12.448791 ] }, { "date": "2025-05-23", "close": 13.802322, "volume": 329476, "typical_volume": 488789.65, "trend": 11.838204, "fair_value": 8.329577, "relative_strength": 15.116044, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 60.841121, "energy": 50.238532, "activity_lines": [ 13.787736, 13.512717, 13.130519, 12.585335 ] }, { "date": "2025-05-30", "close": 13.6457, "volume": 349052, "typical_volume": 498300.5, "trend": 11.986253, "fair_value": 8.378277, "relative_strength": 11.648708, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 56.174212, "energy": 39.115196, "activity_lines": [ 13.734452, 13.574061, 13.228377, 12.701948 ] }, { "date": "2025-06-06", "close": 14.076411, "volume": 336334, "typical_volume": 499799.1, "trend": 12.121465, "fair_value": 8.430842, "relative_strength": 13.217542, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 63.081962, "energy": 42.695635, "activity_lines": [ 13.826172, 13.707475, 13.350447, 12.836796 ] }, { "date": "2025-06-13", "close": 13.704433, "volume": 212381, "typical_volume": 495374.45, "trend": 12.241718, "fair_value": 8.480442, "relative_strength": 13.061704, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 54.119976, "energy": 36.803991, "activity_lines": [ 13.808848, 13.756393, 13.42207, 12.938923 ] }, { "date": "2025-06-20", "close": 13.782744, "volume": 354010, "typical_volume": 501490.15, "trend": 12.345387, "fair_value": 8.532229, "relative_strength": 13.75429, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 52.787057, "energy": 34.133819, "activity_lines": [ 13.803627, 13.785717, 13.489549, 13.038344 ] }, { "date": "2025-06-27", "close": 14.585432, "volume": 348013, "typical_volume": 501441.6, "trend": 12.478371, "fair_value": 8.590034, "relative_strength": 18.116484, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 67.060521, "energy": 42.893681, "activity_lines": [ 14.064664, 13.941083, 13.621498, 13.182864 ] }, { "date": "2025-07-04", "close": 14.60501, "volume": 212712, "typical_volume": 467099.7, "trend": 12.604969, "fair_value": 8.647557, "relative_strength": 17.927659, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 65.379269, "energy": 48.819953, "activity_lines": [ 14.280019, 14.072495, 13.741706, 13.320066 ] }, { "date": "2025-07-11", "close": 15.30981, "volume": 274548, "typical_volume": 445537.5, "trend": 12.761459, "fair_value": 8.710005, "relative_strength": 21.452246, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 81.391029, "energy": 80.181517, "activity_lines": [ 14.666354, 14.315001, 13.919271, 13.494572 ] }, { "date": "2025-07-18", "close": 14.233033, "volume": 227408, "typical_volume": 433120.35, "trend": 12.891655, "fair_value": 8.765376, "relative_strength": 11.758933, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 60.611715, "energy": 68.441659, "activity_lines": [ 14.611536, 14.34338, 13.980888, 13.589512 ] }, { "date": "2025-07-25", "close": 12.803856, "volume": 724821, "typical_volume": 418601.45, "trend": 12.97613, "fair_value": 8.810598, "relative_strength": -0.690264, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 20.525562, "energy": 19.953418, "activity_lines": [ 14.045086, 14.09848, 13.898123, 13.583848 ] }, { "date": "2025-08-01", "close": 12.705967, "volume": 441861, "typical_volume": 413175.85, "trend": 13.060542, "fair_value": 8.855599, "relative_strength": 0.297507, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 5.42538, "energy": 11.719825, "activity_lines": [ 13.511266, 13.853224, 13.807861, 13.566418 ] }, { "date": "2025-08-08", "close": 13.097523, "volume": 444810, "typical_volume": 402604.7, "trend": 13.159926, "fair_value": 8.901599, "relative_strength": -0.979179, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": -0.383682, "energy": 23.419749, "activity_lines": [ 13.233262, 13.699094, 13.757456, 13.568804 ] }, { "date": "2025-08-15", "close": 12.921323, "volume": 195637, "typical_volume": 394892.55, "trend": 13.226562, "fair_value": 8.948213, "relative_strength": -4.798915, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "mixed", "direction": -24.044537, "energy": 36.956075, "activity_lines": [ 12.997024, 13.522894, 13.691246, 13.55341 ] }, { "date": "2025-08-22", "close": 13.469501, "volume": 359370, "typical_volume": 388713.6, "trend": 13.299953, "fair_value": 9.000201, "relative_strength": -2.433732, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -20.610011, "energy": 37.436935, "activity_lines": [ 13.102744, 13.467365, 13.678327, 13.569083 ] }, { "date": "2025-08-29", "close": 13.743588, "volume": 453893, "typical_volume": 377986.75, "trend": 13.382481, "fair_value": 9.054702, "relative_strength": 1.870126, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -10.650164, "energy": 16.167115, "activity_lines": [ 13.350728, 13.465941, 13.683769, 13.597705 ] }, { "date": "2025-09-05", "close": 13.724011, "volume": 294856, "typical_volume": 377349.75, "trend": 13.449, "fair_value": 9.109717, "relative_strength": 2.807656, "stage": 2, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 23.479819, "energy": 11.217418, "activity_lines": [ 13.529539, 13.461669, 13.682322, 13.619739 ] }, { "date": "2025-09-12", "close": 14.037255, "volume": 261275, "typical_volume": 381303.45, "trend": 13.498447, "fair_value": 9.16767, "relative_strength": 2.3973, "stage": 2, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 40.571991, "energy": 25.312159, "activity_lines": [ 13.744894, 13.530013, 13.707603, 13.657691 ] }, { "date": "2025-09-19", "close": 13.90021, "volume": 282240, "typical_volume": 373059.2, "trend": 13.545245, "fair_value": 9.224861, "relative_strength": 1.699653, "stage": 2, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 37.659253, "energy": 26.10145, "activity_lines": [ 13.851919, 13.583763, 13.71807, 13.683611 ] }, { "date": "2025-09-26", "close": 13.704433, "volume": 292662, "typical_volume": 340654.8, "trend": 13.585518, "fair_value": 9.280215, "relative_strength": -0.830869, "stage": 2, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 36.556442, "energy": 22.698172, "activity_lines": [ 13.828425, 13.627546, 13.711798, 13.693881 ] }, { "date": "2025-10-03", "close": 13.880633, "volume": 339616, "typical_volume": 336748.75, "trend": 13.608629, "fair_value": 9.337803, "relative_strength": -1.265065, "stage": 2, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 39.499678, "energy": 22.23366, "activity_lines": [ 13.848003, 13.712976, 13.721307, 13.712921 ] }, { "date": "2025-10-10", "close": 15.564321, "volume": 1637223, "typical_volume": 402136.1, "trend": 13.685943, "fair_value": 9.406359, "relative_strength": 13.199768, "stage": 2, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 78.755542, "energy": 58.330655, "activity_lines": [ 14.419674, 14.084954, 13.890608, 13.839095 ] }, { "date": "2025-10-17", "close": 15.30981, "volume": 3333676, "typical_volume": 551367.3, "trend": 13.752854, "fair_value": 9.472004, "relative_strength": 11.448702, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 70.918569, "energy": 62.852392, "activity_lines": [ 14.783821, 14.358686, 14.02728, 13.943861 ] }, { "date": "2025-10-24", "close": 15.446854, "volume": 953695, "typical_volume": 582235.35, "trend": 13.829452, "fair_value": 9.537482, "relative_strength": 9.886993, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 71.734692, "energy": 73.820885, "activity_lines": [ 15.108811, 14.617113, 14.169079, 14.053151 ] }, { "date": "2025-10-31", "close": 15.642632, "volume": 760116, "typical_volume": 609622.1, "trend": 13.956086, "fair_value": 9.602819, "relative_strength": 8.893335, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 71.446205, "energy": 78.168834, "activity_lines": [ 15.395952, 14.865217, 14.322997, 14.17013 ] }, { "date": "2025-11-07", "close": 14.820366, "volume": 996451, "typical_volume": 641744.15, "trend": 14.027158, "fair_value": 9.661025, "relative_strength": 3.493867, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 61.799564, "energy": 63.209486, "activity_lines": [ 15.279791, 14.924306, 14.389375, 14.22589 ] }, { "date": "2025-11-14", "close": 15.66221, "volume": 695818, "typical_volume": 659134.4, "trend": 14.113494, "fair_value": 9.724221, "relative_strength": 6.323218, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 67.014967, "energy": 54.446147, "activity_lines": [ 15.381595, 15.11688, 14.530988, 14.331377 ] }, { "date": "2025-11-21", "close": 15.48601, "volume": 501467, "typical_volume": 673572.15, "trend": 14.174121, "fair_value": 9.786345, "relative_strength": 8.136344, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 60.432021, "energy": 41.342871, "activity_lines": [ 15.41814, 15.242178, 14.650692, 14.419927 ] }, { "date": "2025-11-28", "close": 17.013075, "volume": 1248846, "typical_volume": 722287.05, "trend": 14.264536, "fair_value": 9.859363, "relative_strength": 16.393206, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 79.972701, "energy": 52.265271, "activity_lines": [ 15.951961, 15.618783, 14.911635, 14.603085 ] }, { "date": "2025-12-05", "close": 17.091385, "volume": 713651, "typical_volume": 746599.2, "trend": 14.384434, "fair_value": 9.933231, "relative_strength": 16.177504, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 77.477372, "energy": 70.765517, "activity_lines": [ 16.407469, 15.953028, 15.171926, 14.785463 ] }, { "date": "2025-12-12", "close": 17.854919, "volume": 714145, "typical_volume": 746065.4, "trend": 14.520826, "fair_value": 10.012459, "relative_strength": 20.416467, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 81.362782, "energy": 82.922934, "activity_lines": [ 17.020906, 16.364517, 15.491324, 15.009365 ] }, { "date": "2025-12-19", "close": 18.618452, "volume": 1280523, "typical_volume": 787998.5, "trend": 14.681364, "fair_value": 10.096407, "relative_strength": 21.321809, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 84.656147, "energy": 89.283141, "activity_lines": [ 17.68655, 16.842571, 15.859386, 15.273728 ] }, { "date": "2025-12-26", "close": 18.46183, "volume": 207158, "typical_volume": 776115.9, "trend": 14.841901, "fair_value": 10.179061, "relative_strength": 19.946548, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 75.642749, "energy": 88.02641, "activity_lines": [ 18.102904, 17.236618, 16.184376, 15.517629 ] }, { "date": "2026-01-02", "close": 18.481407, "volume": 321766, "typical_volume": 782422.35, "trend": 14.988734, "fair_value": 10.261026, "relative_strength": 17.329871, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 71.489346, "energy": 85.19649, "activity_lines": [ 18.327396, 17.576915, 16.485687, 15.752436 ] }, { "date": "2026-01-09", "close": 19.675652, "volume": 670253, "typical_volume": 797966.5, "trend": 15.187775, "fair_value": 10.350297, "relative_strength": 23.000937, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 85.526559, "energy": 92.330155, "activity_lines": [ 18.85208, 18.079173, 16.87426, 16.054817 ] }, { "date": "2026-01-16", "close": 19.010006, "volume": 807564, "typical_volume": 815650.05, "trend": 15.362017, "fair_value": 10.43507, "relative_strength": 17.891407, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 69.63036, "energy": 86.1407, "activity_lines": [ 18.982598, 18.387078, 17.169884, 16.301413 ] }, { "date": "2026-01-23", "close": 19.822483, "volume": 763941, "typical_volume": 839104.3, "trend": 15.536585, "fair_value": 10.521678, "relative_strength": 24.692779, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 79.929818, "energy": 84.413599, "activity_lines": [ 19.306936, 18.766531, 17.517808, 16.589185 ] }, { "date": "2026-01-30", "close": 18.598873, "volume": 754657, "typical_volume": 863773.4, "trend": 15.669714, "fair_value": 10.598293, "relative_strength": 14.590811, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 66.046508, "energy": 62.118163, "activity_lines": [ 19.143135, 18.847867, 17.720159, 16.786752 ] }, { "date": "2026-02-06", "close": 18.598873, "volume": 610797, "typical_volume": 880201.25, "trend": 15.77935, "fair_value": 10.671187, "relative_strength": 13.173858, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 62.454295, "energy": 54.495724, "activity_lines": [ 18.970198, 18.872606, 17.900787, 16.97573 ] }, { "date": "2026-02-13", "close": 16.229965, "volume": 1010349, "typical_volume": 916085.6, "trend": 15.845914, "fair_value": 10.728896, "relative_strength": -0.414068, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 26.406218, "energy": 22.387364, "activity_lines": [ 17.999794, 18.437802, 17.83343, 17.004802 ] }, { "date": "2026-02-20", "close": 16.151653, "volume": 849422, "typical_volume": 941575.9, "trend": 15.957507, "fair_value": 10.785114, "relative_strength": -3.232389, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 8.694862, "energy": 22.614214, "activity_lines": [ 17.232998, 18.004421, 17.746588, 17.024527 ] }, { "date": "2026-02-27", "close": 15.642632, "volume": 867887, "typical_volume": 903109.1, "trend": 16.055396, "fair_value": 10.837547, "relative_strength": -7.784891, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -14.389943, "energy": 32.778726, "activity_lines": [ 16.487086, 17.50946, 17.600454, 17.004212 ] }, { "date": "2026-03-06", "close": 14.467966, "volume": 895483, "typical_volume": 781199.45, "trend": 16.101078, "fair_value": 10.883612, "relative_strength": -8.733946, "stage": 4, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -45.974862, "energy": 51.198781, "activity_lines": [ 15.628275, 16.855029, 17.342075, 16.901798 ] }, { "date": "2026-03-13", "close": 14.213455, "volume": 1367699, "typical_volume": 801899.65, "trend": 16.144149, "fair_value": 10.929324, "relative_strength": -10.568257, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -43.818143, "energy": 69.913236, "activity_lines": [ 14.96002, 16.226939, 17.063464, 16.780015 ] }, { "date": "2026-03-20", "close": 14.272188, "volume": 619590, "typical_volume": 794873.35, "trend": 16.170905, "fair_value": 10.975879, "relative_strength": -7.066754, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -38.894153, "energy": 72.56802, "activity_lines": [ 14.603705, 15.687126, 16.796321, 16.659244 ] }, { "date": "2026-03-27", "close": 14.781211, "volume": 669165, "typical_volume": 778509.05, "trend": 16.205492, "fair_value": 11.024765, "relative_strength": -4.952693, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -30.28433, "energy": 64.95992, "activity_lines": [ 14.547582, 15.338109, 16.584182, 16.569586 ] }, { "date": "2026-04-03", "close": 15.329388, "volume": 396095, "typical_volume": 763522.9, "trend": 16.259005, "fair_value": 11.077748, "relative_strength": -6.250896, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -35.770545, "energy": 42.743031, "activity_lines": [ 14.765548, 15.165646, 16.424437, 16.513063 ] }, { "date": "2026-04-10", "close": 16.278908, "volume": 848588, "typical_volume": 780878.95, "trend": 16.333727, "fair_value": 11.136003, "relative_strength": -4.434053, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -19.872946, "energy": 24.762483, "activity_lines": [ 15.320904, 15.247517, 16.356707, 16.514347 ] }, { "date": "2026-04-17", "close": 16.181021, "volume": 881391, "typical_volume": 762506.2, "trend": 16.409754, "fair_value": 11.194618, "relative_strength": -7.297413, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -12.194528, "energy": 12.982179, "activity_lines": [ 15.722901, 15.353771, 16.275879, 16.504495 ] }, { "date": "2026-04-24", "close": 15.603476, "volume": 893913, "typical_volume": 771519.3, "trend": 16.473055, "fair_value": 11.250404, "relative_strength": -8.140332, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "down", "direction": -34.921457, "energy": 24.517494, "activity_lines": [ 15.801212, 15.398978, 16.144009, 16.452477 ] }, { "date": "2026-05-01", "close": 14.879099, "volume": 519285, "typical_volume": 761776.3, "trend": 16.506337, "fair_value": 11.299977, "relative_strength": -13.172886, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -45.26262, "energy": 25.349746, "activity_lines": [ 15.549311, 15.32387, 15.950236, 16.349642 ] }, { "date": "2026-05-08", "close": 13.958944, "volume": 1488840, "typical_volume": 772192.15, "trend": 16.452825, "fair_value": 11.34429, "relative_strength": -20.009851, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -70.54844, "energy": 41.903869, "activity_lines": [ 14.984166, 15.104599, 15.682999, 16.185294 ] }, { "date": "2026-05-15", "close": 13.91, "volume": 759272, "typical_volume": 799797.85, "trend": 16.406164, "fair_value": 11.389162, "relative_strength": -19.766848, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -71.988451, "energy": 69.850557, "activity_lines": [ 14.49407, 14.907042, 15.433289, 16.02124 ] }, { "date": "2026-05-22", "close": 13.69, "volume": 1315103, "typical_volume": 849464.7, "trend": 16.347603, "fair_value": 11.433342, "relative_strength": -21.352387, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -71.730299, "energy": 77.728438, "activity_lines": [ 14.088567, 14.679629, 15.184303, 15.846004 ] }, { "date": "2026-05-29", "close": 14.64, "volume": 931501, "typical_volume": 862527.1, "trend": 16.314182, "fair_value": 11.483312, "relative_strength": -16.560623, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -61.951912, "energy": 70.056563, "activity_lines": [ 14.165799, 14.634461, 15.048609, 15.735836 ] }, { "date": "2026-06-05", "close": 13.93, "volume": 70639, "typical_volume": 825680.85, "trend": 16.284503, "fair_value": 11.52891, "relative_strength": -20.082239, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -65.749092, "energy": 68.032811, "activity_lines": [ 14.070596, 14.453515, 14.869275, 15.582018 ] }, { "date": "2026-06-12", "close": 15.53, "volume": 441899, "typical_volume": 809578.75, "trend": 16.280096, "fair_value": 11.584406, "relative_strength": -13.459312, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -54.090045, "energy": 35.042125, "activity_lines": [ 14.572, 14.578954, 14.866512, 15.53334 ] }, { "date": "2026-06-19", "close": 15.31, "volume": 116006, "typical_volume": 777646.2, "trend": 16.274229, "fair_value": 11.63909, "relative_strength": -16.584104, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -36.764199, "energy": 20.102412, "activity_lines": [ 14.895333, 14.660746, 14.863237, 15.470753 ] }, { "date": "2026-06-26", "close": 14.89, "volume": 72301, "typical_volume": 750721.4, "trend": 16.20346, "fair_value": 11.690124, "relative_strength": -16.009723, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -33.251559, "energy": 19.853658, "activity_lines": [ 14.985333, 14.683791, 14.835624, 15.381448 ] }, { "date": "2026-07-03", "close": 15.23, "volume": 138881, "typical_volume": 707148.0, "trend": 16.141413, "fair_value": 11.744715, "relative_strength": -16.24556, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -26.928514, "energy": 22.230175, "activity_lines": [ 15.108667, 14.792127, 14.858053, 15.318645 ] }, { "date": "2026-07-10", "close": 14.51, "volume": 1977637, "typical_volume": 763558.75, "trend": 16.029916, "fair_value": 11.791517, "relative_strength": -19.416029, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -38.00568, "energy": 18.761243, "activity_lines": [ 14.952667, 14.776344, 14.816673, 15.213392 ] }, { "date": "2026-07-17", "close": 14.86, "volume": 403414, "typical_volume": 740335.1, "trend": 15.904634, "fair_value": 11.839246, "relative_strength": -15.993222, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -22.455651, "energy": 12.516212, "activity_lines": [ 14.874667, 14.830909, 14.816443, 15.137914 ] }, { "date": "2026-07-24", "close": 14.23, "volume": 782033, "typical_volume": 734662.6, "trend": 15.763573, "fair_value": 11.880363, "relative_strength": -19.249738, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -54.616341, "energy": 28.183279, "activity_lines": [ 14.631333, 14.754545, 14.75994, 15.029873 ] }, { "date": "2026-07-31", "close": 15.07, "volume": 926467, "typical_volume": 712601.0, "trend": 15.64986, "fair_value": 11.925727, "relative_strength": -14.950482, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -30.803598, "energy": 18.563867, "activity_lines": [ 14.74, 14.825091, 14.78457, 14.985126 ] }, { "date": "2026-08-07", "close": 15.07, "volume": 593205, "typical_volume": 711281.75, "trend": 15.496338, "fair_value": 11.972708, "relative_strength": -17.235184, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -25.387996, "energy": 12.77673, "activity_lines": [ 14.836667, 14.870545, 14.805121, 14.947716 ] } ], "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." } } }