{ "ticker": { "uuid": "2d25b9d8-795b-423d-b971-32b5551b235a", "symbol": "603207", "name": "Shanghai Xiao Fang Pharmaceutical Co.,Ltd.", "exchange": "SHH", "country": "CN", "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": "000001.SS", "stage": 4, "stage_name": "Declining", "phase": "4b", "phase_label": "Stage 4B \u00b7 Declining", "transition": "stage_4_declining", "transition_label": "Stage 4 decline intact", "confidence": 96.0, "architecture_regime": "downward_expansion", "architecture_regime_label": "Downward Expansion", "architecture_modifier": "Established contraction", "architecture_gate": "down", "architecture_direction": -56.646, "architecture_energy": 44.804, "architecture_maturity": 96.922, "architecture_confidence": 83.692, "architecture_tenure": "Established", "architecture": { "interpretation": { "headline": "The weekly architecture is expanding downward.", "body": "Trend and Activity show sustained negative alignment with weak price acceptance. Repair requires persistent improvement across the structure, not merely one strong observation." }, "scores": { "balance": 27.88, "rotation_up": 28.14, "upward_expansion": 7.29, "deceleration": 60.74, "rotation_down": 41.06, "downward_expansion": 75.95 }, "activity_lines": [ 22.542667, 22.562756, 23.291004, 24.420728 ], "activity_state": "Moderate", "activity_direction": "Contracting", "rotation_direction": "Improving", "price_acceptance": -0.333333 }, "latest_close": 23.030001, "trend_reference": 26.049859, "distance_from_trend": -0.115926, "trend_direction": "Weakening", "fair_value": 27.372974, "distance_from_fair_value": -0.158659, "fair_value_direction": "Weakening", "relative_strength": -19.038467, "relative_strength_direction": "Improving", "price_momentum": -0.239432, "excess_performance": -0.196228, "evidence": [ { "label": "Price vs Trend", "positive": false, "value": -0.115926, "read": "Below" }, { "label": "Trend direction", "positive": false, "value": -0.08551, "read": "Falling" }, { "label": "Price vs current Fair Value", "positive": false, "value": -0.158659, "read": "Below anchor" }, { "label": "Fair Value direction", "positive": false, "value": -0.093877, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.190385, "read": "Lagging" }, { "label": "Relative strength direction", "positive": true, "value": 0.018344, "read": "Improving" }, { "label": "Price momentum", "positive": false, "value": -0.239432, "read": "Negative" }, { "label": "Volume balance", "positive": false, "value": 0.411202, "read": "Supply-led" } ], "volume": { "latest": 6408702, "relative_activity": 1.304677, "balance": 0.411202, "dry_up": 1.669193, "accumulation_observations": 2, "distribution_observations": 5 }, "risk": { "range_context": 0.061034, "annualized_volatility": 0.244472, "from_high_reference": -0.404059, "from_low_reference": 0.078689 }, "levels": { "trend_reference": 26.049859, "fair_value_reference": 27.372974, "structural_low": 21.35, "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": 5, "median_return": -0.048875, "positive_rate": 0.2, "directional_follow_through": 0.8, "median_excess_return": -0.004953, "regime_survival": 1.0, "best_return": 0.052506, "worst_return": -0.14527, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 1, "median_return": -0.21533, "positive_rate": 0.0, "directional_follow_through": 1.0, "median_excess_return": -0.199718, "regime_survival": 1.0, "best_return": -0.21533, "worst_return": -0.21533, "sufficient": false }, { "horizon": "Extended", "sample_count": 0, "median_return": null, "positive_rate": null, "directional_follow_through": null, "median_excess_return": null, "regime_survival": null, "best_return": null, "worst_return": null, "sufficient": false }, { "horizon": "Full cycle", "sample_count": 0, "median_return": null, "positive_rate": null, "directional_follow_through": null, "median_excess_return": null, "regime_survival": null, "best_return": null, "worst_return": null, "sufficient": false } ], "ledger": [ { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2026-03-13", "end": "2026-08-07", "tenure": "Established", "return": -0.183333, "active": true } ], "chart_path": [ { "date": "2024-08-30", "close": 26.317692, "volume": 124521586, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-09-06", "close": 24.453831, "volume": 83218105, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-09-13", "close": 19.859419, "volume": 59675448, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-09-20", "close": 20.278788, "volume": 22721241, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-09-27", "close": 22.291756, "volume": 43649527, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-10-04", "close": 24.519066, "volume": 15330401, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-10-11", "close": 24.342001, "volume": 52969454, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-10-18", "close": 24.929115, "volume": 25434271, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-10-25", "close": 24.835924, "volume": 23777234, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-01", "close": 24.230169, "volume": 24983134, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-08", "close": 26.429523, "volume": 38709560, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-15", "close": 25.068905, "volume": 29498624, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-22", "close": 23.577818, "volume": 14498857, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-29", "close": 24.379278, "volume": 10107276, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-12-06", "close": 24.407236, "volume": 10922479, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-12-13", "close": 25.087543, "volume": 22465219, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-12-20", "close": 25.106184, "volume": 22873892, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-12-27", "close": 26.960724, "volume": 67670339, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-03", "close": 27.818098, "volume": 43421387, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-10", "close": 25.488274, "volume": 51235915, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-17", "close": 25.506912, "volume": 19345487, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-24", "close": 25.087543, "volume": 14049306, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-31", "close": 24.574984, "volume": 3038053, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-02-07", "close": 25.795811, "volume": 9475258, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-02-14", "close": 26.420204, "volume": 24335831, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-02-21", "close": 26.066071, "volume": 16645331, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-02-28", "close": 24.929115, "volume": 13642484, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-03-07", "close": 25.152779, "volume": 11047689, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-03-14", "close": 25.506912, "volume": 10093865, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-03-21", "close": 25.301888, "volume": 12241027, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-03-28", "close": 26.438843, "volume": 22155051, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-04-04", "close": 26.979362, "volume": 31625503, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-04-11", "close": 23.233006, "volume": 21887143, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-04-18", "close": 26.094028, "volume": 23750311, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-04-25", "close": 24.49111, "volume": 28751973, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-02", "close": 25.050266, "volume": 8890119, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-09", "close": 25.488274, "volume": 11530147, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-16", "close": 26.243137, "volume": 12534735, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-23", "close": 26.960724, "volume": 23631295, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-30", "close": 28.70343, "volume": 22809399, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-06-06", "close": 28.628876, "volume": 19961614, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-06-13", "close": 28.295759, "volume": 24863598, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-06-20", "close": 27.101267, "volume": 18926348, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-06-27", "close": 28.237013, "volume": 13660601, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-07-04", "close": 30.048334, "volume": 21623802, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-07-11", "close": 33.024773, "volume": 42249358, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-07-18", "close": 32.35899, "volume": 22493880, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-07-25", "close": 32.192547, "volume": 22937981, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-01", "close": 35.521458, "volume": 38186486, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-08", "close": 35.22773, "volume": 34941284, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-15", "close": 36.197033, "volume": 19895810, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-22", "close": 34.464039, "volume": 19036966, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-29", "close": 33.2108, "volume": 15993491, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-09-05", "close": 33.964699, "volume": 14574360, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-09-12", "close": 34.033237, "volume": 16201460, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-09-19", "close": 34.728394, "volume": 17333474, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-09-26", "close": 32.711464, "volume": 13957905, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-10-03", "close": 33.024773, "volume": 2059117, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-10-10", "close": 32.887699, "volume": 2591100, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-10-17", "close": 32.779999, "volume": 9073603, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-10-24", "close": 32.130001, "volume": 5597521, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-10-31", "close": 32.349998, "volume": 7209458, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-11-07", "close": 32.16, "volume": 5757314, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-11-14", "close": 31.58, "volume": 6083516, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-11-21", "close": 28.77, "volume": 8211587, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-11-28", "close": 29.309999, "volume": 4812578, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-12-05", "close": 29.049999, "volume": 3385448, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-12-12", "close": 28.51, "volume": 3506267, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-12-19", "close": 28.790001, "volume": 3808185, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-12-26", "close": 28.860001, "volume": 3317251, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-01-02", "close": 28.620001, "volume": 1391682, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-01-09", "close": 29.6, "volume": 5855655, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-01-16", "close": 30.0, "volume": 7825639, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-01-23", "close": 31.049999, "volume": 6425200, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-01-30", "close": 30.280001, "volume": 10338853, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-02-06", "close": 30.469999, "volume": 5281194, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-02-13", "close": 29.59, "volume": 4753467, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-02-27", "close": 29.77, "volume": 2553044, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-03-06", "close": 28.389999, "volume": 5713285, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-03-13", "close": 28.200001, "volume": 5934448, "typical_volume": 5388079.6, "trend": 31.182738, "fair_value": 28.131558, "relative_strength": -14.629978, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -71.725595, "energy": 63.594094, "activity_lines": [ 28.901333, 29.437091, 29.510571, 30.125033 ] }, { "date": "2026-03-20", "close": 27.33, "volume": 5053295, "typical_volume": 5360868.3, "trend": 30.88717, "fair_value": 28.121662, "relative_strength": -14.257155, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -79.275394, "energy": 77.99762, "activity_lines": [ 28.25, 29.024909, 29.268286, 29.87647 ] }, { "date": "2026-03-27", "close": 27.299999, "volume": 5763632, "typical_volume": 5288577.0, "trend": 30.648369, "fair_value": 28.111642, "relative_strength": -13.290434, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -74.963167, "energy": 79.492755, "activity_lines": [ 27.798, 28.630727, 29.046, 29.645039 ] }, { "date": "2026-04-03", "close": 27.290001, "volume": 4692994, "typical_volume": 5235361.0, "trend": 30.451009, "fair_value": 28.101742, "relative_strength": -12.391763, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -69.361582, "energy": 75.583105, "activity_lines": [ 27.495333, 28.276545, 28.84681, 29.42837 ] }, { "date": "2026-04-10", "close": 27.57, "volume": 4130512, "typical_volume": 5137710.8, "trend": 30.237852, "fair_value": 28.095412, "relative_strength": -13.609958, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -63.157357, "energy": 61.496444, "activity_lines": [ 27.451333, 28.022545, 28.697476, 29.242499 ] }, { "date": "2026-04-17", "close": 27.879999, "volume": 4807663, "typical_volume": 4967514.6, "trend": 30.032744, "fair_value": 28.092878, "relative_strength": -13.983942, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -59.525066, "energy": 45.742337, "activity_lines": [ 27.565333, 27.888182, 28.596762, 29.090379 ] }, { "date": "2026-04-24", "close": 27.469999, "volume": 3596942, "typical_volume": 4906732.8, "trend": 29.790798, "fair_value": 28.085635, "relative_strength": -15.590735, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -59.451421, "energy": 41.795746, "activity_lines": [ 27.563999, 27.722909, 28.461238, 28.925041 ] }, { "date": "2026-05-01", "close": 25.838629, "volume": 7111736, "typical_volume": 5093047.2, "trend": 29.561703, "fair_value": 28.059808, "relative_strength": -21.007572, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -77.565437, "energy": 51.791892, "activity_lines": [ 27.009543, 27.315569, 28.179107, 28.670062 ] }, { "date": "2026-05-08", "close": 26.222515, "volume": 3664212, "typical_volume": 5100944.45, "trend": 29.334961, "fair_value": 28.038929, "relative_strength": -20.872839, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -70.280965, "energy": 59.530739, "activity_lines": [ 26.680472, 27.046233, 27.94883, 28.454631 ] }, { "date": "2026-05-15", "close": 25.051167, "volume": 5652638, "typical_volume": 5193167.1, "trend": 29.073744, "fair_value": 28.005359, "relative_strength": -23.300929, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -80.713429, "energy": 80.872191, "activity_lines": [ 26.032119, 26.628424, 27.617888, 28.178257 ] }, { "date": "2026-05-22", "close": 24.234173, "volume": 3814934, "typical_volume": 5218051.25, "trend": 28.788883, "fair_value": 27.963457, "relative_strength": -25.049682, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -84.770434, "energy": 90.44023, "activity_lines": [ 25.279356, 26.122777, 27.226941, 27.866027 ] }, { "date": "2026-05-29", "close": 23.033291, "volume": 6034706, "typical_volume": 5450202.45, "trend": 28.485659, "fair_value": 27.909279, "relative_strength": -27.563947, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -88.891444, "energy": 93.960714, "activity_lines": [ 24.369354, 25.470894, 26.743652, 27.494698 ] }, { "date": "2026-06-05", "close": 22.413164, "volume": 862900, "typical_volume": 5200564.7, "trend": 28.154431, "fair_value": 27.849539, "relative_strength": -28.268312, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -88.301766, "energy": 95.030826, "activity_lines": [ 23.548423, 24.784383, 26.227907, 27.102924 ] }, { "date": "2026-06-12", "close": 22.127708, "volume": 1101300, "typical_volume": 4864347.75, "trend": 27.820021, "fair_value": 27.788014, "relative_strength": -28.723826, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -82.790335, "energy": 93.235555, "activity_lines": [ 22.860705, 24.134822, 25.719198, 26.714103 ] }, { "date": "2026-06-19", "close": 22.137552, "volume": 4287224, "typical_volume": 4757448.95, "trend": 27.505273, "fair_value": 27.727902, "relative_strength": -29.195457, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -75.79347, "energy": 90.633766, "activity_lines": [ 22.449256, 23.58091, 25.248914, 26.347492 ] }, { "date": "2026-06-26", "close": 21.507582, "volume": 1159100, "typical_volume": 4298461.3, "trend": 27.263193, "fair_value": 27.662425, "relative_strength": -29.648115, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -80.240465, "energy": 92.199654, "activity_lines": [ 22.022057, 23.011231, 24.761074, 25.960545 ] }, { "date": "2026-07-03", "close": 23.59, "volume": 1556072, "typical_volume": 4112205.2, "trend": 27.072526, "fair_value": 27.620004, "relative_strength": -22.676455, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -67.433957, "energy": 66.346036, "activity_lines": [ 22.470771, 22.936035, 24.513332, 25.723564 ] }, { "date": "2026-07-10", "close": 23.23, "volume": 7208420, "typical_volume": 4234952.85, "trend": 26.878526, "fair_value": 27.574746, "relative_strength": -22.389827, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -64.061847, "energy": 60.704975, "activity_lines": [ 22.762371, 22.865929, 24.264066, 25.47566 ] }, { "date": "2026-07-17", "close": 23.15, "volume": 10451084, "typical_volume": 4629854.85, "trend": 26.699859, "fair_value": 27.529596, "relative_strength": -17.197331, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -50.58019, "energy": 47.487655, "activity_lines": [ 22.972848, 22.828709, 24.037467, 25.23511 ] }, { "date": "2026-07-24", "close": 21.5, "volume": 9402393, "typical_volume": 4814310.25, "trend": 26.456859, "fair_value": 27.468691, "relative_strength": -23.410282, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -65.25013, "energy": 48.234932, "activity_lines": [ 22.565172, 22.547351, 23.685249, 24.899635 ] }, { "date": "2026-07-31", "close": 22.24, "volume": 6534783, "typical_volume": 4844327.0, "trend": 26.236193, "fair_value": 27.416404, "relative_strength": -20.492203, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -62.96475, "energy": 49.968048, "activity_lines": [ 22.446667, 22.465107, 23.436317, 24.627579 ] }, { "date": "2026-08-07", "close": 23.030001, "volume": 6408702, "typical_volume": 4912097.35, "trend": 26.049859, "fair_value": 27.372974, "relative_strength": -19.038467, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -56.646463, "energy": 44.803739, "activity_lines": [ 22.542667, 22.562756, 23.291004, 24.420728 ] } ], "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." } } }