{ "ticker": { "uuid": "307445cf-8b2d-471b-b0f2-3386fa5baef8", "symbol": "BF-A", "name": "Brown-Forman Corporation", "exchange": "NYSE", "country": "US", "assetType": "equity" }, "methodBoundary": "Trend Architecture is a weekly structural classification, not a forecast, probability of return, recommendation or execution signal. Confidence measures geometric agreement and external confirmation only.", "analysis": { "eligible": true, "as_of": "2026-08-07", "benchmark": "SPY", "stage": 1, "stage_name": "Basing", "phase": "1b", "phase_label": "Stage 1B \u00b7 Basing", "transition": "stage_1_building", "transition_label": "Base still building", "confidence": 96.0, "architecture_regime": "balance", "architecture_regime_label": "Balance", "architecture_modifier": "Balance after decline", "architecture_gate": "up", "architecture_direction": 54.113, "architecture_energy": 41.979, "architecture_maturity": 39.047, "architecture_confidence": 72.169, "architecture_tenure": "Established", "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": 54.12, "rotation_up": 51.26, "upward_expansion": 76.71, "deceleration": 53.76, "rotation_down": 21.16, "downward_expansion": 15.04 }, "activity_lines": [ 28.078, 27.622406, 27.432773, 27.336245 ], "activity_state": "Compressed", "activity_direction": "Expanding", "rotation_direction": "Improving", "price_acceptance": -0.166667 }, "latest_close": 29.06, "trend_reference": 27.335317, "distance_from_trend": 0.063094, "trend_direction": "Improving", "fair_value": 37.923672, "distance_from_fair_value": -0.233724, "fair_value_direction": "Improving", "relative_strength": -5.532119, "relative_strength_direction": "Improving", "price_momentum": -0.008503, "excess_performance": -0.134128, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.063094, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.001397, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": false, "value": -0.233724, "read": "Below anchor" }, { "label": "Fair Value direction", "positive": true, "value": 0.078802, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.055321, "read": "Lagging" }, { "label": "Relative strength direction", "positive": true, "value": 0.047658, "read": "Improving" }, { "label": "Price momentum", "positive": false, "value": -0.008503, "read": "Negative" }, { "label": "Volume balance", "positive": false, "value": 0.52452, "read": "Supply-led" } ], "volume": { "latest": 716384, "relative_activity": 0.739373, "balance": 0.52452, "dry_up": 0.734568, "accumulation_observations": 1, "distribution_observations": 1 }, "risk": { "range_context": 0.069103, "annualized_volatility": 0.435035, "from_high_reference": -0.058766, "from_low_reference": 0.273795 }, "levels": { "trend_reference": 27.335317, "fair_value_reference": 37.923672, "structural_low": 22.813725, "invalidation": "A renewed decline below the structural range low, widening the discount to current Fair Value while Trend falls, weakens the base diagnosis." }, "outcomes": [ { "horizon": "Near term", "sample_count": 24, "median_return": -0.00956, "positive_rate": 0.5, "directional_follow_through": 0.5, "median_excess_return": -0.027815, "regime_survival": 0.5, "best_return": 0.245283, "worst_return": -0.183561, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 11, "median_return": -0.061254, "positive_rate": 0.272727, "directional_follow_through": 0.272727, "median_excess_return": -0.100827, "regime_survival": 0.090909, "best_return": 0.158731, "worst_return": -0.216365, "sufficient": true }, { "horizon": "Extended", "sample_count": 8, "median_return": -0.095005, "positive_rate": 0.125, "directional_follow_through": 0.125, "median_excess_return": -0.173662, "regime_survival": 0.375, "best_return": 0.08435, "worst_return": -0.215887, "sufficient": true }, { "horizon": "Full cycle", "sample_count": 4, "median_return": -0.1423, "positive_rate": 0.0, "directional_follow_through": 0.0, "median_excess_return": -0.381508, "regime_survival": 0.25, "best_return": -0.000682, "worst_return": -0.440518, "sufficient": false } ], "ledger": [ { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2024-11-08", "end": "2025-05-02", "tenure": "Established", "return": -0.129849, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-05-09", "end": "2025-05-30", "tenure": "New", "return": -0.034853, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-06-06", "end": "2025-08-22", "tenure": "Developing", "return": 0.124332, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-08-29", "end": "2025-09-19", "tenure": "New", "return": -0.107631, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-09-26", "end": "2025-11-28", "tenure": "Developing", "return": 0.066193, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-12-05", "end": "2025-12-12", "tenure": "New", "return": 0.000661, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2025-12-19", "end": "2025-12-26", "tenure": "New", "return": -0.075018, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-01-02", "end": "2026-01-09", "tenure": "New", "return": -0.003432, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2026-01-16", "end": "2026-01-30", "tenure": "New", "return": 0.045455, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-02-06", "end": "2026-02-13", "tenure": "New", "return": 0.013074, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2026-02-20", "end": "2026-03-06", "tenure": "New", "return": -0.151615, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-03-13", "end": "2026-03-20", "tenure": "New", "return": -0.021803, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2026-03-27", "end": "2026-04-10", "tenure": "New", "return": 0.092313, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-04-17", "end": "2026-08-07", "tenure": "Established", "return": -0.014127, "active": true } ], "chart_path": [ { "date": "2023-08-18", "close": 64.396934, "volume": 217643, "typical_volume": 273785.0, "trend": 61.453872, "fair_value": 61.351423, "relative_strength": -4.582207, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 63.882698, "energy": 60.521095, "activity_lines": [ 65.771777, 65.089032, 63.421998, 62.42566 ] }, { "date": "2023-08-25", "close": 64.489912, "volume": 176090, "typical_volume": 276295.2, "trend": 61.55799, "fair_value": 61.386482, "relative_strength": -4.940735, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 58.804783, "energy": 43.220731, "activity_lines": [ 65.295726, 65.117433, 63.644372, 62.621534 ] }, { "date": "2023-09-01", "close": 63.574539, "volume": 349190, "typical_volume": 286643.15, "trend": 61.611882, "fair_value": 61.379919, "relative_strength": -8.318754, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 42.504277, "energy": 27.292073, "activity_lines": [ 64.566, 64.937984, 63.753593, 62.751634 ] }, { "date": "2023-09-08", "close": 61.168461, "volume": 346201, "typical_volume": 296967.85, "trend": 61.652719, "fair_value": 61.362374, "relative_strength": -10.31509, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 14.047418, "energy": 19.444499, "activity_lines": [ 63.272551, 64.288685, 63.612665, 62.723026 ] }, { "date": "2023-09-15", "close": 60.748796, "volume": 1286030, "typical_volume": 356461.65, "trend": 61.656466, "fair_value": 61.364172, "relative_strength": -10.411272, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 3.555139, "energy": 21.064207, "activity_lines": [ 62.16788, 63.601666, 63.42673, 62.664708 ] }, { "date": "2023-09-22", "close": 57.745862, "volume": 672534, "typical_volume": 384882.1, "trend": 61.56874, "fair_value": 61.34934, "relative_strength": -11.80961, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -43.851128, "energy": 44.608576, "activity_lines": [ 60.457924, 62.401516, 62.956307, 62.412411 ] }, { "date": "2023-09-29", "close": 54.183375, "volume": 433958, "typical_volume": 400328.9, "trend": 61.312057, "fair_value": 61.303074, "relative_strength": -16.147795, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -54.051452, "energy": 74.886702, "activity_lines": [ 58.003878, 60.665441, 62.16108, 61.935936 ] }, { "date": "2023-10-06", "close": 53.707755, "volume": 372284, "typical_volume": 414228.35, "trend": 61.193185, "fair_value": 61.24539, "relative_strength": -16.79834, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -59.417498, "energy": 82.855107, "activity_lines": [ 56.078394, 59.044312, 61.348957, 61.445336 ] }, { "date": "2023-10-13", "close": 50.779428, "volume": 321499, "typical_volume": 422050.05, "trend": 60.966815, "fair_value": 61.17998, "relative_strength": -21.15934, "stage": 4, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -91.112844, "energy": 96.288767, "activity_lines": [ 53.834587, 57.135148, 60.28702, 60.77348 ] }, { "date": "2023-10-20", "close": 52.54202, "volume": 313681, "typical_volume": 429727.2, "trend": 60.748836, "fair_value": 61.135946, "relative_strength": -16.026351, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -72.474612, "energy": 89.735519, "activity_lines": [ 52.870913, 55.824983, 59.427804, 60.229945 ] }, { "date": "2023-10-27", "close": 52.420784, "volume": 215368, "typical_volume": 423420.05, "trend": 60.482015, "fair_value": 61.114706, "relative_strength": -13.645978, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -68.059112, "energy": 87.404422, "activity_lines": [ 52.413945, 54.749906, 58.594052, 59.692652 ] }, { "date": "2023-11-03", "close": 57.074399, "volume": 246125, "typical_volume": 380041.95, "trend": 60.41666, "fair_value": 61.082247, "relative_strength": -10.73854, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -64.799266, "energy": 60.217644, "activity_lines": [ 53.863187, 54.738689, 58.245433, 59.472805 ] }, { "date": "2023-11-10", "close": 54.76158, "volume": 201591, "typical_volume": 324919.5, "trend": 60.269886, "fair_value": 61.019646, "relative_strength": -15.052107, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -59.772115, "energy": 48.503165, "activity_lines": [ 54.348754, 54.441787, 57.70101, 59.107962 ] }, { "date": "2023-11-17", "close": 56.216418, "volume": 215899, "typical_volume": 322879.35, "trend": 60.140091, "fair_value": 60.966941, "relative_strength": -14.289969, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -44.646814, "energy": 33.717302, "activity_lines": [ 55.249013, 54.569636, 57.328628, 58.846447 ] }, { "date": "2023-11-24", "close": 57.242265, "volume": 95387, "typical_volume": 321184.15, "trend": 60.012667, "fair_value": 60.915175, "relative_strength": -13.094441, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -37.297073, "energy": 27.332278, "activity_lines": [ 56.128755, 54.974041, 57.087632, 58.659491 ] }, { "date": "2023-12-01", "close": 57.636453, "volume": 185228, "typical_volume": 323889.8, "trend": 59.907652, "fair_value": 60.862626, "relative_strength": -12.688958, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -33.639176, "energy": 24.869371, "activity_lines": [ 56.826543, 55.513871, 56.909481, 58.506187 ] }, { "date": "2023-12-08", "close": 53.143842, "volume": 397656, "typical_volume": 333643.9, "trend": 59.674202, "fair_value": 60.741439, "relative_strength": -19.190684, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -52.210598, "energy": 26.97103, "activity_lines": [ 55.679082, 55.238851, 56.333264, 58.069812 ] }, { "date": "2023-12-15", "close": 56.007881, "volume": 642383, "typical_volume": 355321.25, "trend": 59.547342, "fair_value": 60.67788, "relative_strength": -16.358491, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -36.027093, "energy": 20.804246, "activity_lines": [ 55.748339, 55.503467, 56.087517, 57.833275 ] }, { "date": "2023-12-22", "close": 55.989162, "volume": 315691, "typical_volume": 361103.6, "trend": 59.477019, "fair_value": 60.620136, "relative_strength": -16.652063, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -35.94017, "energy": 22.203342, "activity_lines": [ 55.728269, 55.722859, 55.89304, 57.603715 ] }, { "date": "2023-12-29", "close": 55.773891, "volume": 243270, "typical_volume": 362385.4, "trend": 59.325676, "fair_value": 60.55833, "relative_strength": -16.766083, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -37.021587, "energy": 26.137793, "activity_lines": [ 55.651592, 55.808388, 55.726201, 57.364804 ] }, { "date": "2024-01-05", "close": 53.761576, "volume": 288277, "typical_volume": 365917.1, "trend": 59.076849, "fair_value": 60.48294, "relative_strength": -18.049246, "stage": 4, "regime": "deceleration", "modifier": "Recompressing", "gate": "down", "direction": -47.940254, "energy": 28.778071, "activity_lines": [ 55.002036, 55.469281, 55.419666, 57.00583 ] }, { "date": "2024-01-12", "close": 54.323152, "volume": 364513, "typical_volume": 375338.25, "trend": 58.81389, "fair_value": 60.434093, "relative_strength": -18.217259, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -53.881358, "energy": 33.224785, "activity_lines": [ 54.797996, 55.2079, 55.21726, 56.699139 ] }, { "date": "2024-01-19", "close": 53.031527, "volume": 177974, "typical_volume": 366777.45, "trend": 58.521823, "fair_value": 60.386157, "relative_strength": -20.601889, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -61.747632, "energy": 49.365824, "activity_lines": [ 54.084794, 54.761701, 54.940255, 56.326084 ] }, { "date": "2024-01-26", "close": 54.725615, "volume": 236618, "typical_volume": 361298.3, "trend": 58.236327, "fair_value": 60.359581, "relative_strength": -18.434698, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -51.876298, "energy": 39.429231, "activity_lines": [ 54.134712, 54.654973, 54.874796, 56.081167 ] }, { "date": "2024-02-02", "close": 54.6133, "volume": 211447, "typical_volume": 307569.15, "trend": 57.971572, "fair_value": 60.314364, "relative_strength": -19.270219, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -50.360021, "energy": 32.108481, "activity_lines": [ 54.231428, 54.55493, 54.829321, 55.847423 ] }, { "date": "2024-02-09", "close": 54.538423, "volume": 244710, "typical_volume": 286177.95, "trend": 57.659691, "fair_value": 60.258222, "relative_strength": -20.029403, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -48.802385, "energy": 28.803648, "activity_lines": [ 54.380558, 54.489072, 54.805931, 55.62593 ] }, { "date": "2024-02-16", "close": 55.249753, "volume": 183865, "typical_volume": 273673.3, "trend": 57.325962, "fair_value": 60.210921, "relative_strength": -18.243615, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -33.76427, "energy": 16.072363, "activity_lines": [ 54.715008, 54.608875, 54.865561, 55.47045 ] }, { "date": "2024-02-23", "close": 55.025123, "volume": 114733, "typical_volume": 260795.75, "trend": 56.921829, "fair_value": 60.183583, "relative_strength": -19.38254, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -30.564625, "energy": 13.100004, "activity_lines": [ 54.912807, 54.649547, 54.898719, 55.322009 ] }, { "date": "2024-03-01", "close": 56.794088, "volume": 214875, "typical_volume": 255464.55, "trend": 56.611684, "fair_value": 60.169356, "relative_strength": -17.071567, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -12.299127, "energy": 10.407821, "activity_lines": [ 55.567356, 55.029717, 55.094077, 55.313767 ] }, { "date": "2024-03-08", "close": 52.243408, "volume": 291014, "typical_volume": 254331.2, "trend": 56.130324, "fair_value": 60.124013, "relative_strength": -23.009089, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -57.533255, "energy": 22.616622, "activity_lines": [ 54.567113, 54.567856, 54.827396, 55.031943 ] }, { "date": "2024-03-15", "close": 51.707819, "volume": 402540, "typical_volume": 263689.8, "trend": 55.707354, "fair_value": 60.08817, "relative_strength": -23.217721, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -63.204253, "energy": 41.177725, "activity_lines": [ 53.546333, 54.072806, 54.511128, 54.74662 ] }, { "date": "2024-03-22", "close": 48.851345, "volume": 409421, "typical_volume": 271854.6, "trend": 55.186068, "fair_value": 60.034418, "relative_strength": -28.441697, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -78.663244, "energy": 71.83279, "activity_lines": [ 51.762102, 53.095737, 53.92621, 54.304297 ] }, { "date": "2024-03-29", "close": 49.753389, "volume": 171333, "typical_volume": 270341.7, "trend": 54.725363, "fair_value": 59.983414, "relative_strength": -26.792322, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -69.927562, "energy": 76.228264, "activity_lines": [ 50.705112, 52.382164, 53.466358, 53.953802 ] }, { "date": "2024-04-05", "close": 49.283574, "volume": 258944, "typical_volume": 272493.95, "trend": 54.3292, "fair_value": 59.922302, "relative_strength": -26.274669, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -69.365384, "energy": 79.290845, "activity_lines": [ 49.842967, 51.642773, 52.985611, 53.602719 ] }, { "date": "2024-04-12", "close": 47.714393, "volume": 235198, "typical_volume": 279484.5, "trend": 53.89472, "fair_value": 59.831731, "relative_strength": -26.995354, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -78.837934, "energy": 84.434773, "activity_lines": [ 48.958462, 50.717022, 52.388431, 53.175957 ] }, { "date": "2024-04-19", "close": 47.385522, "volume": 193068, "typical_volume": 279876.5, "trend": 53.549375, "fair_value": 59.71656, "relative_strength": -24.609047, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -76.120661, "energy": 83.640238, "activity_lines": [ 48.266268, 49.856911, 51.805301, 52.756009 ] }, { "date": "2024-04-26", "close": 46.474082, "volume": 264500, "typical_volume": 273218.7, "trend": 53.292399, "fair_value": 59.606133, "relative_strength": -27.331707, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -79.021648, "energy": 86.844052, "activity_lines": [ 47.558414, 48.961137, 51.184181, 52.299538 ] }, { "date": "2024-05-03", "close": 45.900907, "volume": 240404, "typical_volume": 253119.75, "trend": 53.032171, "fair_value": 59.491175, "relative_strength": -27.996448, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -77.979732, "energy": 87.726889, "activity_lines": [ 46.817986, 48.120707, 50.540234, 51.822668 ] }, { "date": "2024-05-10", "close": 47.028463, "volume": 167327, "typical_volume": 245701.55, "trend": 52.907138, "fair_value": 59.375775, "relative_strength": -26.926993, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -66.453652, "energy": 77.504819, "activity_lines": [ 46.710242, 47.651181, 50.051802, 51.435332 ] }, { "date": "2024-05-17", "close": 46.333137, "volume": 158765, "typical_volume": 241476.3, "trend": 52.700176, "fair_value": 59.249966, "relative_strength": -28.539188, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -68.102361, "energy": 70.148828, "activity_lines": [ 46.521063, 47.23279, 49.539818, 51.011202 ] }, { "date": "2024-05-24", "close": 43.119604, "volume": 354468, "typical_volume": 244785.85, "trend": 52.390136, "fair_value": 59.097148, "relative_strength": -32.873418, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -85.508439, "energy": 72.589705, "activity_lines": [ 45.35279, 46.337579, 48.76674, 50.393101 ] }, { "date": "2024-05-31", "close": 43.035037, "volume": 461190, "typical_volume": 249619.7, "trend": 51.922158, "fair_value": 58.940068, "relative_strength": -32.081146, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -80.487727, "energy": 74.822805, "activity_lines": [ 44.440723, 45.583142, 48.036283, 49.789546 ] }, { "date": "2024-06-07", "close": 41.219485, "volume": 548725, "typical_volume": 268157.25, "trend": 51.470754, "fair_value": 58.801224, "relative_strength": -35.055739, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -86.90502, "energy": 92.428854, "activity_lines": [ 43.152741, 44.604355, 47.18667, 49.099051 ] }, { "date": "2024-06-14", "close": 41.427235, "volume": 590512, "typical_volume": 285851.95, "trend": 50.977782, "fair_value": 58.669622, "relative_strength": -35.081707, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -77.303359, "energy": 90.349119, "activity_lines": [ 42.246105, 43.818503, 46.41309, 48.451082 ] }, { "date": "2024-06-21", "close": 41.125053, "volume": 533362, "typical_volume": 301947.7, "trend": 50.440541, "fair_value": 58.518298, "relative_strength": -35.236997, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -75.282663, "energy": 89.739437, "activity_lines": [ 41.612156, 43.120552, 45.674056, 47.815422 ] }, { "date": "2024-06-28", "close": 41.672757, "volume": 1637331, "typical_volume": 371578.75, "trend": 49.908418, "fair_value": 58.380926, "relative_strength": -33.592542, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -67.882221, "energy": 84.535911, "activity_lines": [ 41.507981, 42.641989, 45.051415, 47.249759 ] }, { "date": "2024-07-05", "close": 40.785098, "volume": 369401, "typical_volume": 380855.55, "trend": 49.49646, "fair_value": 58.24079, "relative_strength": -35.462658, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -72.431871, "energy": 67.915398, "activity_lines": [ 41.204375, 42.105902, 44.4055, 46.661158 ] }, { "date": "2024-07-12", "close": 42.475428, "volume": 383292, "typical_volume": 394283.5, "trend": 49.045378, "fair_value": 58.122791, "relative_strength": -32.652951, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -64.35519, "energy": 62.079928, "activity_lines": [ 41.61421, 41.980584, 43.989447, 46.208188 ] }, { "date": "2024-07-19", "close": 41.880507, "volume": 303284, "typical_volume": 398703.95, "trend": 48.57509, "fair_value": 58.002011, "relative_strength": -31.445499, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -61.119069, "energy": 54.830163, "activity_lines": [ 41.742007, 41.80938, 43.576497, 45.745938 ] }, { "date": "2024-07-26", "close": 43.778587, "volume": 370406, "typical_volume": 402673.55, "trend": 48.175246, "fair_value": 57.898905, "relative_strength": -26.872473, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -46.574181, "energy": 40.215173, "activity_lines": [ 42.47228, 42.07688, 43.415332, 45.436486 ] }, { "date": "2024-08-02", "close": 43.211996, "volume": 332841, "typical_volume": 399188.6, "trend": 47.823594, "fair_value": 57.796471, "relative_strength": -25.356016, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -40.319216, "energy": 28.820155, "activity_lines": [ 42.836787, 42.287811, 43.240516, 45.116276 ] }, { "date": "2024-08-09", "close": 42.447098, "volume": 301788, "typical_volume": 393806.95, "trend": 47.427725, "fair_value": 57.692804, "relative_strength": -25.741904, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -38.966429, "energy": 26.544791, "activity_lines": [ 42.843712, 42.357989, 43.033308, 44.769406 ] }, { "date": "2024-08-16", "close": 43.023132, "volume": 216104, "typical_volume": 396045.5, "trend": 47.094112, "fair_value": 57.589273, "relative_strength": -26.68264, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -34.551632, "energy": 20.409445, "activity_lines": [ 42.931848, 42.54359, 42.911457, 44.485239 ] }, { "date": "2024-08-23", "close": 43.145894, "volume": 222783, "typical_volume": 394237.45, "trend": 46.708121, "fair_value": 57.483489, "relative_strength": -26.536974, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -34.145032, "energy": 21.493499, "activity_lines": [ 43.024391, 42.718718, 42.833346, 44.230515 ] }, { "date": "2024-08-30", "close": 43.202553, "volume": 285758, "typical_volume": 396765.45, "trend": 46.327763, "fair_value": 57.375943, "relative_strength": -25.73732, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -23.708242, "energy": 17.337518, "activity_lines": [ 43.051462, 42.8729, 42.789859, 44.004349 ] }, { "date": "2024-09-06", "close": 42.592378, "volume": 270904, "typical_volume": 400657.25, "trend": 45.929561, "fair_value": 57.266269, "relative_strength": -22.757117, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -26.220507, "energy": 18.042033, "activity_lines": [ 42.913543, 42.878368, 42.709744, 43.763357 ] }, { "date": "2024-09-13", "close": 43.436825, "volume": 463951, "typical_volume": 410629.8, "trend": 45.535797, "fair_value": 57.167933, "relative_strength": -23.37711, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -21.426818, "energy": 14.03127, "activity_lines": [ 43.098414, 43.020651, 42.732878, 43.602535 ] }, { "date": "2024-09-20", "close": 42.858047, "volume": 1489900, "typical_volume": 473104.6, "trend": 45.130228, "fair_value": 57.072502, "relative_strength": -24.589233, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -21.252046, "energy": 13.892762, "activity_lines": [ 43.024378, 43.009489, 42.715353, 43.429777 ] }, { "date": "2024-09-27", "close": 44.945443, "volume": 1040151, "typical_volume": 516745.8, "trend": 44.735273, "fair_value": 56.995457, "relative_strength": -20.60136, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": 2.190077, "energy": 7.030409, "activity_lines": [ 43.657146, 43.370896, 42.911118, 43.417855 ] }, { "date": "2024-10-04", "close": 43.569659, "volume": 469727, "typical_volume": 532293.9, "trend": 44.446148, "fair_value": 56.903207, "relative_strength": -22.471632, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -11.850978, "energy": 12.407487, "activity_lines": [ 43.711349, 43.426435, 42.985774, 43.342654 ] }, { "date": "2024-10-11", "close": 44.86005, "volume": 466395, "typical_volume": 537890.25, "trend": 44.217889, "fair_value": 56.813994, "relative_strength": -20.43119, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": 2.222638, "energy": 13.973639, "activity_lines": [ 44.171209, 43.720389, 43.196485, 43.369358 ] }, { "date": "2024-10-18", "close": 45.47678, "volume": 427496, "typical_volume": 536205.55, "trend": 44.105404, "fair_value": 56.729138, "relative_strength": -19.252029, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 37.902257, "energy": 43.163767, "activity_lines": [ 44.685467, 44.096511, 43.457643, 43.450576 ] }, { "date": "2024-10-25", "close": 45.01186, "volume": 319317, "typical_volume": 524735.15, "trend": 43.947353, "fair_value": 56.649354, "relative_strength": -18.471098, "stage": 4, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 31.065697, "energy": 45.080579, "activity_lines": [ 44.908755, 44.333017, 43.662897, 43.509057 ] }, { "date": "2024-11-01", "close": 40.694745, "volume": 406852, "typical_volume": 515552.15, "trend": 43.661058, "fair_value": 56.522051, "relative_strength": -24.314327, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": -16.26516, "energy": 9.984873, "activity_lines": [ 43.549418, 43.748435, 43.438937, 43.299212 ] }, { "date": "2024-11-08", "close": 37.848295, "volume": 624890, "typical_volume": 520128.55, "trend": 43.332189, "fair_value": 56.381334, "relative_strength": -31.931462, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -65.385494, "energy": 48.300336, "activity_lines": [ 41.524643, 42.690882, 42.947375, 42.924195 ] }, { "date": "2024-11-15", "close": 37.9242, "volume": 478942, "typical_volume": 462209.1, "trend": 43.016811, "fair_value": 56.2212, "relative_strength": -29.446503, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -76.341521, "energy": 76.124533, "activity_lines": [ 39.906594, 41.744481, 42.478646, 42.575292 ] }, { "date": "2024-11-22", "close": 38.929946, "volume": 507565, "typical_volume": 469117.3, "trend": 42.76534, "fair_value": 56.072115, "relative_strength": -27.823792, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -63.535737, "energy": 76.335252, "activity_lines": [ 39.086184, 41.065818, 42.123553, 42.311623 ] }, { "date": "2024-11-29", "close": 39.243055, "volume": 317092, "typical_volume": 465807.3, "trend": 42.543412, "fair_value": 55.934188, "relative_strength": -27.132324, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -62.875201, "energy": 77.101537, "activity_lines": [ 38.8066, 40.526028, 41.807113, 42.084379 ] }, { "date": "2024-12-06", "close": 41.934374, "volume": 648819, "typical_volume": 483084.05, "trend": 42.373609, "fair_value": 55.81827, "relative_strength": -22.00242, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -58.51382, "energy": 51.879909, "activity_lines": [ 39.808708, 40.541295, 41.762382, 42.045087 ] }, { "date": "2024-12-13", "close": 42.439837, "volume": 940049, "typical_volume": 511566.2, "trend": 42.243832, "fair_value": 55.696692, "relative_strength": -19.715291, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -34.965438, "energy": 20.777543, "activity_lines": [ 40.896663, 40.703212, 41.765533, 42.049359 ] }, { "date": "2024-12-20", "close": 38.567798, "volume": 762148, "typical_volume": 533031.55, "trend": 42.092105, "fair_value": 55.552752, "relative_strength": -24.777571, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -52.364714, "energy": 26.013722, "activity_lines": [ 40.387834, 40.181663, 41.406294, 41.812196 ] }, { "date": "2024-12-27", "close": 36.4315, "volume": 396992, "typical_volume": 537791.75, "trend": 41.871987, "fair_value": 55.38932, "relative_strength": -28.49161, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -72.646655, "energy": 40.02973, "activity_lines": [ 39.124, 39.386102, 40.865713, 41.446996 ] }, { "date": "2025-01-03", "close": 34.276129, "volume": 533149, "typical_volume": 553644.0, "trend": 41.640542, "fair_value": 55.238951, "relative_strength": -31.474644, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -80.938157, "energy": 73.512106, "activity_lines": [ 37.308272, 38.363114, 40.148505, 40.95694 ] }, { "date": "2025-01-10", "close": 32.11122, "volume": 705289, "typical_volume": 577769.3, "trend": 41.330008, "fair_value": 55.077514, "relative_strength": -33.627486, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -85.053916, "energy": 88.91087, "activity_lines": [ 35.102037, 37.141702, 39.266767, 40.342145 ] }, { "date": "2025-01-17", "close": 32.416406, "volume": 701872, "typical_volume": 598575.0, "trend": 41.03972, "fair_value": 54.930741, "relative_strength": -34.044074, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -76.367562, "energy": 89.489776, "activity_lines": [ 33.652406, 36.131842, 38.46664, 39.767074 ] }, { "date": "2025-01-24", "close": 31.910942, "volume": 657643, "typical_volume": 617911.95, "trend": 40.714326, "fair_value": 54.768138, "relative_strength": -35.255168, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -75.560996, "energy": 89.864945, "activity_lines": [ 32.702517, 35.128841, 37.669737, 39.178121 ] }, { "date": "2025-01-31", "close": 31.777424, "volume": 857573, "typical_volume": 637593.05, "trend": 40.41407, "fair_value": 54.606846, "relative_strength": -33.941275, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -72.44279, "energy": 88.486086, "activity_lines": [ 32.151912, 34.210896, 36.910982, 38.601546 ] }, { "date": "2025-02-07", "close": 29.679275, "volume": 846034, "typical_volume": 605399.75, "trend": 39.987532, "fair_value": 54.429937, "relative_strength": -37.277447, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -82.828842, "energy": 91.055498, "activity_lines": [ 31.212195, 33.041515, 36.007923, 37.908979 ] }, { "date": "2025-02-14", "close": 30.003534, "volume": 545813, "typical_volume": 580682.85, "trend": 39.591633, "fair_value": 54.259967, "relative_strength": -36.547714, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -75.308029, "energy": 83.931292, "activity_lines": [ 30.687022, 32.104978, 35.198503, 37.26485 ] }, { "date": "2025-02-21", "close": 30.785571, "volume": 534358, "typical_volume": 583914.4, "trend": 39.158532, "fair_value": 54.095596, "relative_strength": -32.862056, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -67.042278, "energy": 72.935085, "activity_lines": [ 30.56304, 31.527553, 34.534715, 36.696717 ] }, { "date": "2025-02-28", "close": 31.50085, "volume": 787597, "typical_volume": 599974.5, "trend": 38.768161, "fair_value": 53.91754, "relative_strength": -29.588362, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -65.042989, "energy": 63.646786, "activity_lines": [ 30.786207, 31.292075, 33.999924, 36.202673 ] }, { "date": "2025-03-07", "close": 35.112051, "volume": 1016591, "typical_volume": 629429.25, "trend": 38.523659, "fair_value": 53.801428, "relative_strength": -18.140896, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -49.958296, "energy": 45.750307, "activity_lines": [ 32.240447, 31.841669, 33.872673, 35.966795 ] }, { "date": "2025-03-14", "close": 33.077682, "volume": 929308, "typical_volume": 659928.8, "trend": 38.192144, "fair_value": 53.651365, "relative_strength": -20.188322, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -42.588497, "energy": 30.716877, "activity_lines": [ 32.794256, 32.045367, 33.601029, 35.615442 ] }, { "date": "2025-03-21", "close": 32.684243, "volume": 990582, "typical_volume": 689115.3, "trend": 37.843422, "fair_value": 53.493671, "relative_strength": -20.77465, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -37.8069, "energy": 26.038046, "activity_lines": [ 32.990358, 32.199322, 33.348743, 35.260093 ] }, { "date": "2025-03-28", "close": 32.329188, "volume": 620650, "typical_volume": 688903.3, "trend": 37.480977, "fair_value": 53.327416, "relative_strength": -19.656241, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -34.814977, "energy": 25.020631, "activity_lines": [ 32.889394, 32.278302, 33.100788, 34.904336 ] }, { "date": "2025-04-04", "close": 30.467549, "volume": 732151, "typical_volume": 701563.75, "trend": 37.076816, "fair_value": 53.146467, "relative_strength": -15.930111, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -56.972975, "energy": 37.657518, "activity_lines": [ 32.064976, 32.020388, 32.701815, 34.451857 ] }, { "date": "2025-04-11", "close": 32.588282, "volume": 1081921, "typical_volume": 730281.55, "trend": 36.715198, "fair_value": 52.977938, "relative_strength": -14.132483, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -50.835426, "energy": 36.293299, "activity_lines": [ 32.016356, 32.174305, 32.540325, 34.162274 ] }, { "date": "2025-04-18", "close": 32.242823, "volume": 396553, "typical_volume": 734254.6, "trend": 36.361357, "fair_value": 52.814125, "relative_strength": -12.98794, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -49.457612, "energy": 34.856295, "activity_lines": [ 32.020834, 32.250669, 32.376133, 33.873734 ] }, { "date": "2025-04-25", "close": 32.453937, "volume": 429163, "typical_volume": 723271.8, "trend": 35.944973, "fair_value": 52.655541, "relative_strength": -15.495039, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -37.864005, "energy": 27.718119, "activity_lines": [ 32.151341, 32.318807, 32.265381, 33.621642 ] }, { "date": "2025-05-02", "close": 32.933741, "volume": 462719, "typical_volume": 699405.3, "trend": 35.590443, "fair_value": 52.510312, "relative_strength": -15.924266, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -23.569514, "energy": 15.215047, "activity_lines": [ 32.457136, 32.429629, 32.245469, 33.427369 ] }, { "date": "2025-05-09", "close": 33.039298, "volume": 486719, "typical_volume": 685633.85, "trend": 35.196418, "fair_value": 52.350489, "relative_strength": -14.510643, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -20.572147, "energy": 11.491518, "activity_lines": [ 32.757813, 32.520586, 32.280878, 33.262779 ] }, { "date": "2025-05-16", "close": 34.421133, "volume": 472551, "typical_volume": 689411.8, "trend": 34.827896, "fair_value": 52.220492, "relative_strength": -14.675423, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -1.026213, "energy": 8.538775, "activity_lines": [ 33.347652, 32.834814, 32.474216, 33.212761 ] }, { "date": "2025-05-23", "close": 32.482725, "volume": 279824, "typical_volume": 676745.55, "trend": 34.410258, "fair_value": 52.05575, "relative_strength": -16.760163, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -14.506286, "energy": 11.684863, "activity_lines": [ 33.169165, 32.809166, 32.492517, 33.061459 ] }, { "date": "2025-05-30", "close": 31.887768, "volume": 287266, "typical_volume": 655844.4, "trend": 34.116693, "fair_value": 51.89248, "relative_strength": -19.050813, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -24.679629, "energy": 11.272496, "activity_lines": [ 32.776365, 32.686162, 32.462695, 32.898718 ] }, { "date": "2025-06-06", "close": 26.974576, "volume": 1476967, "typical_volume": 694599.15, "trend": 33.754235, "fair_value": 51.684884, "relative_strength": -31.98898, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -77.289757, "energy": 55.15845, "activity_lines": [ 30.783579, 31.684331, 31.966015, 32.437936 ] }, { "date": "2025-06-13", "close": 25.733164, "volume": 1039313, "typical_volume": 713682.65, "trend": 33.347867, "fair_value": 51.476224, "relative_strength": -34.233189, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -86.640503, "energy": 84.59208, "activity_lines": [ 28.774267, 30.554146, 31.377018, 31.920448 ] }, { "date": "2025-06-20", "close": 25.481637, "volume": 1006983, "typical_volume": 721153.15, "trend": 32.89959, "fair_value": 51.224418, "relative_strength": -34.123967, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -83.363935, "energy": 91.192805, "activity_lines": [ 27.168189, 29.464308, 30.793485, 31.412949 ] }, { "date": "2025-06-27", "close": 26.458723, "volume": 1839706, "typical_volume": 770836.75, "trend": 32.473446, "fair_value": 50.987536, "relative_strength": -33.212133, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -69.40743, "energy": 88.071536, "activity_lines": [ 26.483772, 28.681334, 30.332987, 30.997409 ] }, { "date": "2025-07-04", "close": 27.97756, "volume": 751841, "typical_volume": 781138.15, "trend": 32.008219, "fair_value": 50.765574, "relative_strength": -29.934816, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -67.192558, "energy": 84.252386, "activity_lines": [ 26.707234, 28.279678, 30.032476, 30.707352 ] }, { "date": "2025-07-11", "close": 28.316155, "volume": 954342, "typical_volume": 802137.35, "trend": 31.537429, "fair_value": 50.538418, "relative_strength": -28.212702, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -64.054032, "energy": 64.61401, "activity_lines": [ 27.304241, 28.020973, 29.77386, 30.469154 ] }, { "date": "2025-07-18", "close": 27.996909, "volume": 713480, "typical_volume": 798431.5, "trend": 31.185067, "fair_value": 50.306448, "relative_strength": -28.763343, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -58.680735, "energy": 45.104146, "activity_lines": [ 27.705395, 27.788179, 29.496598, 30.240734 ] }, { "date": "2025-07-25", "close": 29.738251, "volume": 546796, "typical_volume": 774941.75, "trend": 30.961958, "fair_value": 50.070558, "relative_strength": -24.659714, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -41.211542, "energy": 26.005843, "activity_lines": [ 28.53608, 27.963673, 29.401864, 30.147391 ] }, { "date": "2025-08-01", "close": 27.638966, "volume": 584858, "typical_volume": 757719.25, "trend": 30.740719, "fair_value": 49.814437, "relative_strength": -27.397715, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -42.836552, "energy": 25.585373, "activity_lines": [ 28.383229, 27.842622, 29.132788, 29.933004 ] }, { "date": "2025-08-08", "close": 29.419004, "volume": 539703, "typical_volume": 735175.3, "trend": 30.650979, "fair_value": 49.565543, "relative_strength": -23.771952, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -35.669423, "energy": 20.397091, "activity_lines": [ 28.745041, 28.133283, 29.059138, 29.847732 ] }, { "date": "2025-08-15", "close": 29.264219, "volume": 609622, "typical_volume": 734623.9, "trend": 30.545906, "fair_value": 49.308353, "relative_strength": -24.113242, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -32.301293, "energy": 20.257667, "activity_lines": [ 28.959161, 28.440687, 28.986295, 29.758264 ] }, { "date": "2025-08-22", "close": 30.328372, "volume": 609814, "typical_volume": 728507.05, "trend": 30.493154, "fair_value": 49.072476, "relative_strength": -20.801208, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -19.926763, "energy": 14.782834, "activity_lines": [ 29.464795, 28.899944, 29.029395, 29.744229 ] }, { "date": "2025-08-29", "close": 29.36096, "volume": 1065484, "typical_volume": 727685.2, "trend": 30.412605, "fair_value": 48.846901, "relative_strength": -22.490824, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -14.961607, "energy": 15.003836, "activity_lines": [ 29.492528, 29.099759, 28.981023, 29.671185 ] }, { "date": "2025-09-05", "close": 28.433775, "volume": 615178, "typical_volume": 738616.45, "trend": 30.371088, "fair_value": 48.596954, "relative_strength": -24.303272, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -23.714284, "energy": 15.489409, "activity_lines": [ 29.236352, 29.060461, 28.859716, 29.543518 ] }, { "date": "2025-09-12", "close": 27.263661, "volume": 1067964, "typical_volume": 770556.5, "trend": 30.279759, "fair_value": 48.350374, "relative_strength": -27.6596, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -49.324183, "energy": 24.941359, "activity_lines": [ 28.53715, 28.772505, 28.645109, 29.343039 ] }, { "date": "2025-09-19", "close": 26.200807, "volume": 2509102, "typical_volume": 872875.65, "trend": 30.126934, "fair_value": 48.108854, "relative_strength": -30.470769, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -69.01343, "energy": 58.53706, "activity_lines": [ 27.627353, 28.304283, 28.353992, 29.079881 ] }, { "date": "2025-09-26", "close": 26.074045, "volume": 1111214, "typical_volume": 904100.4, "trend": 29.94604, "fair_value": 47.876918, "relative_strength": -29.652675, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -68.361722, "energy": 70.302885, "activity_lines": [ 26.87953, 27.851475, 28.082865, 28.818404 ] }, { "date": "2025-10-03", "close": 27.078393, "volume": 751375, "typical_volume": 918041.6, "trend": 29.678252, "fair_value": 47.659572, "relative_strength": -26.832739, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -59.66205, "energy": 66.936383, "activity_lines": [ 26.750111, 27.616236, 27.940557, 28.633395 ] }, { "date": "2025-10-10", "close": 25.830271, "volume": 832287, "typical_volume": 945664.75, "trend": 29.436671, "fair_value": 47.440428, "relative_strength": -27.497042, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -69.1795, "energy": 71.445349, "activity_lines": [ 26.356822, 27.202427, 27.714347, 28.385138 ] }, { "date": "2025-10-17", "close": 27.809714, "volume": 1050165, "typical_volume": 983809.7, "trend": 29.274187, "fair_value": 47.236866, "relative_strength": -22.266355, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -56.4254, "energy": 42.138326, "activity_lines": [ 26.796915, 27.181402, 27.708333, 28.280173 ] }, { "date": "2025-10-24", "close": 26.912627, "volume": 967705, "typical_volume": 958346.6, "trend": 29.093635, "fair_value": 47.001623, "relative_strength": -25.161602, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -52.462745, "energy": 33.073834, "activity_lines": [ 26.901576, 27.026531, 27.636301, 28.127814 ] }, { "date": "2025-10-31", "close": 26.444581, "volume": 796815, "typical_volume": 946221.7, "trend": 28.959536, "fair_value": 46.770467, "relative_strength": -26.088857, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -57.605393, "energy": 34.291317, "activity_lines": [ 26.802766, 26.829316, 27.519989, 27.956907 ] }, { "date": "2025-11-07", "close": 25.947283, "volume": 1109348, "typical_volume": 951339.95, "trend": 28.738169, "fair_value": 46.521415, "relative_strength": -25.588151, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -60.640431, "energy": 34.519404, "activity_lines": [ 26.513488, 26.612297, 27.352927, 27.762569 ] }, { "date": "2025-11-14", "close": 27.068642, "volume": 732081, "typical_volume": 895958.7, "trend": 28.565697, "fair_value": 46.278016, "relative_strength": -21.752288, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -42.400587, "energy": 27.62215, "activity_lines": [ 26.673404, 26.66123, 27.290444, 27.654857 ] }, { "date": "2025-11-21", "close": 27.292914, "volume": 782245, "typical_volume": 897478.9, "trend": 28.393662, "fair_value": 46.024181, "relative_strength": -18.809046, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -38.543102, "energy": 23.371202, "activity_lines": [ 26.825518, 26.775759, 27.246416, 27.572742 ] }, { "date": "2025-11-28", "close": 27.799963, "volume": 473416, "typical_volume": 873432.6, "trend": 28.222537, "fair_value": 45.762513, "relative_strength": -19.482447, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -28.146564, "energy": 13.769215, "activity_lines": [ 27.181103, 26.981947, 27.253938, 27.534439 ] }, { "date": "2025-12-05", "close": 29.721876, "volume": 1163038, "typical_volume": 895910.5, "trend": 28.111956, "fair_value": 45.552496, "relative_strength": -13.331098, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 28.374921, "energy": 24.521242, "activity_lines": [ 28.118169, 27.508499, 27.446958, 27.63117 ] }, { "date": "2025-12-12", "close": 29.741527, "volume": 1061253, "typical_volume": 921633.35, "trend": 27.955969, "fair_value": 45.352557, "relative_strength": -11.842829, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 30.576276, "energy": 40.086748, "activity_lines": [ 28.8433, 27.972299, 27.633635, 27.736304 ] }, { "date": "2025-12-19", "close": 27.766619, "volume": 916518, "typical_volume": 938216.35, "trend": 27.798765, "fair_value": 45.137825, "relative_strength": -16.98509, "stage": 1, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 17.749992, "energy": 32.502883, "activity_lines": [ 28.657178, 28.028604, 27.63221, 27.724088 ] }, { "date": "2025-12-26", "close": 25.683631, "volume": 603260, "typical_volume": 941394.2, "trend": 27.591961, "fair_value": 44.91294, "relative_strength": -23.553845, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": -12.52786, "energy": 12.204026, "activity_lines": [ 27.730195, 27.670978, 27.431798, 27.587628 ] }, { "date": "2026-01-02", "close": 25.762234, "volume": 804191, "typical_volume": 951122.65, "trend": 27.551549, "fair_value": 44.697325, "relative_strength": -21.874169, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -47.346335, "energy": 26.998716, "activity_lines": [ 26.936699, 27.366299, 27.256659, 27.469581 ] }, { "date": "2026-01-09", "close": 25.673806, "volume": 1029231, "typical_volume": 972093.5, "trend": 27.549571, "fair_value": 44.463551, "relative_strength": -22.781281, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -59.747497, "energy": 43.876712, "activity_lines": [ 26.249575, 27.066459, 27.089774, 27.348436 ] }, { "date": "2026-01-16", "close": 26.155251, "volume": 935671, "typical_volume": 965602.85, "trend": 27.572025, "fair_value": 44.239793, "relative_strength": -20.514571, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -54.687501, "energy": 51.75651, "activity_lines": [ 25.992804, 26.868168, 26.990906, 27.25848 ] }, { "date": "2026-01-23", "close": 27.373602, "volume": 743290, "typical_volume": 972008.45, "trend": 27.602521, "fair_value": 44.021891, "relative_strength": -16.06456, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -47.969694, "energy": 46.824379, "activity_lines": [ 26.381235, 26.887615, 27.023337, 27.245678 ] }, { "date": "2026-01-30", "close": 27.344126, "volume": 742724, "typical_volume": 955746.45, "trend": 27.581406, "fair_value": 43.800008, "relative_strength": -16.012338, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -41.406987, "energy": 22.046271, "activity_lines": [ 26.786042, 26.896157, 27.058008, 27.229008 ] }, { "date": "2026-02-06", "close": 29.309209, "volume": 1013201, "typical_volume": 880951.4, "trend": 27.614508, "fair_value": 43.603636, "relative_strength": -9.521705, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 17.565482, "energy": 16.810282, "activity_lines": [ 27.735178, 27.261057, 27.279448, 27.340479 ] }, { "date": "2026-02-13", "close": 29.6924, "volume": 739083, "typical_volume": 862344.85, "trend": 27.671024, "fair_value": 43.405277, "relative_strength": -6.908308, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 41.537605, "energy": 36.10652, "activity_lines": [ 28.575578, 27.668186, 27.52258, 27.474537 ] }, { "date": "2026-02-20", "close": 29.810305, "volume": 590591, "typical_volume": 854305.65, "trend": 27.673426, "fair_value": 43.209332, "relative_strength": -7.249001, "stage": 1, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 41.943861, "energy": 55.254215, "activity_lines": [ 29.187374, 28.097289, 27.75971, 27.612555 ] }, { "date": "2026-02-27", "close": 28.847414, "volume": 1860844, "typical_volume": 905733.5, "trend": 27.713708, "fair_value": 42.99756, "relative_strength": -9.361696, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 32.594147, "energy": 53.104371, "activity_lines": [ 29.234536, 28.35007, 27.892128, 27.688296 ] }, { "date": "2026-03-06", "close": 25.290614, "volume": 1340530, "typical_volume": 920251.75, "trend": 27.576095, "fair_value": 42.792539, "relative_strength": -18.111785, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": -2.716838, "energy": 8.784791, "activity_lines": [ 27.997843, 27.936509, 27.671435, 27.531967 ] }, { "date": "2026-03-13", "close": 23.64656, "volume": 1206261, "typical_volume": 932179.55, "trend": 27.388839, "fair_value": 42.575078, "relative_strength": -21.487692, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -58.724151, "energy": 35.323721, "activity_lines": [ 26.350034, 27.231175, 27.306162, 27.278449 ] }, { "date": "2026-03-20", "close": 23.130996, "volume": 1464059, "typical_volume": 965541.75, "trend": 27.148927, "fair_value": 42.344626, "relative_strength": -21.027109, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -75.296766, "energy": 61.300643, "activity_lines": [ 24.90788, 26.470569, 26.90734, 27.003749 ] }, { "date": "2026-03-27", "close": 26.95807, "volume": 2217379, "typical_volume": 1020943.3, "trend": 27.068831, "fair_value": 42.130092, "relative_strength": -5.199674, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -56.168935, "energy": 46.500288, "activity_lines": [ 25.178844, 26.452028, 26.88878, 26.991436 ] }, { "date": "2026-04-03", "close": 26.858923, "volume": 817628, "typical_volume": 1025220.65, "trend": 27.016335, "fair_value": 41.923835, "relative_strength": -7.887898, "stage": 1, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -54.085936, "energy": 52.923051, "activity_lines": [ 25.606908, 26.400863, 26.855964, 26.977894 ] }, { "date": "2026-04-10", "close": 29.44666, "volume": 1368609, "typical_volume": 1054538.85, "trend": 27.089102, "fair_value": 41.733334, "relative_strength": -1.743603, "stage": 1, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "mixed", "direction": 14.947133, "energy": 6.613341, "activity_lines": [ 27.030117, 26.829554, 27.070598, 27.134689 ] }, { "date": "2026-04-17", "close": 29.476404, "volume": 1472298, "typical_volume": 1104482.95, "trend": 27.198289, "fair_value": 41.536963, "relative_strength": -5.047174, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 38.992963, "energy": 29.87242, "activity_lines": [ 28.186171, 27.225424, 27.277809, 27.288708 ] }, { "date": "2026-04-24", "close": 28.653484, "volume": 978343, "typical_volume": 1095248.2, "trend": 27.28427, "fair_value": 41.329197, "relative_strength": -7.395744, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 49.036318, "energy": 36.199929, "activity_lines": [ 28.679262, 27.468633, 27.398664, 27.382592 ] }, { "date": "2026-05-01", "close": 25.956685, "volume": 838139, "typical_volume": 1084092.5, "trend": 27.24688, "fair_value": 41.105926, "relative_strength": -16.044769, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -2.854774, "energy": 13.505921, "activity_lines": [ 27.905254, 27.240405, 27.267768, 27.296941 ] }, { "date": "2026-05-08", "close": 28.11809, "volume": 912954, "typical_volume": 1083914.3, "trend": 27.32314, "fair_value": 40.900611, "relative_strength": -10.29792, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 45.364096, "energy": 26.94103, "activity_lines": [ 27.918474, 27.475224, 27.360743, 27.353148 ] }, { "date": "2026-05-15", "close": 27.12662, "volume": 907250, "typical_volume": 1099113.8, "trend": 27.300371, "fair_value": 40.691078, "relative_strength": -12.778192, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 27.348749, "energy": 10.827351, "activity_lines": [ 27.517259, 27.543037, 27.357619, 27.340469 ] }, { "date": "2026-05-22", "close": 26.759776, "volume": 801032, "typical_volume": 1098955.85, "trend": 27.295275, "fair_value": 40.490187, "relative_strength": -13.883832, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 2.266457, "energy": 6.417159, "activity_lines": [ 27.148432, 27.51077, 27.312686, 27.305592 ] }, { "date": "2026-05-29", "close": 26.501994, "volume": 694655, "typical_volume": 1082227.05, "trend": 27.297189, "fair_value": 40.273442, "relative_strength": -15.164694, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -18.49794, "energy": 10.854106, "activity_lines": [ 26.874787, 27.375028, 27.238452, 27.254413 ] }, { "date": "2026-06-05", "close": 26.462335, "volume": 928117, "typical_volume": 1081849.35, "trend": 27.314358, "fair_value": 40.050596, "relative_strength": -12.724912, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -39.358545, "energy": 21.082935, "activity_lines": [ 26.731354, 27.170785, 27.156497, 27.200551 ] }, { "date": "2026-06-12", "close": 27.4, "volume": 921735, "typical_volume": 1090771.6, "trend": 27.325403, "fair_value": 39.827442, "relative_strength": -9.863326, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -40.136454, "energy": 22.681033, "activity_lines": [ 26.866766, 27.146041, 27.162382, 27.206077 ] }, { "date": "2026-06-19", "close": 26.64, "volume": 1099024, "typical_volume": 1108586.6, "trend": 27.303639, "fair_value": 39.602099, "relative_strength": -12.857296, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -46.551867, "energy": 22.307981, "activity_lines": [ 26.796718, 26.973276, 27.09576, 27.161857 ] }, { "date": "2026-06-26", "close": 28.62, "volume": 1238014, "typical_volume": 1119827.25, "trend": 27.330974, "fair_value": 39.379852, "relative_strength": -3.909369, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 1.988998, "energy": 2.745805, "activity_lines": [ 27.419111, 27.211542, 27.221062, 27.246784 ] }, { "date": "2026-07-03", "close": 26.76, "volume": 767870, "typical_volume": 1121266.6, "trend": 27.232245, "fair_value": 39.150391, "relative_strength": -11.672245, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -14.482127, "energy": 7.520923, "activity_lines": [ 27.297489, 27.127197, 27.172503, 27.209947 ] }, { "date": "2026-07-10", "close": 26.6, "volume": 568188, "typical_volume": 1120146.45, "trend": 27.127527, "fair_value": 38.911321, "relative_strength": -12.943825, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -8.231383, "energy": 3.614164, "activity_lines": [ 27.105333, 27.048187, 27.12267, 27.169157 ] }, { "date": "2026-07-17", "close": 26.13, "volume": 583833, "typical_volume": 1056295.9, "trend": 27.072973, "fair_value": 38.660478, "relative_strength": -12.727934, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -21.177339, "energy": 10.515181, "activity_lines": [ 26.747333, 26.872027, 27.043362, 27.1048 ] }, { "date": "2026-07-24", "close": 26.71, "volume": 636187, "typical_volume": 1021078.75, "trend": 27.107185, "fair_value": 38.401253, "relative_strength": -9.788657, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -45.139522, "energy": 27.232576, "activity_lines": [ 26.667333, 26.837469, 27.032233, 27.081382 ] }, { "date": "2026-07-31", "close": 29.22, "volume": 910511, "typical_volume": 1006291.25, "trend": 27.222444, "fair_value": 38.164852, "relative_strength": -2.107357, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 27.485149, "energy": 12.801257, "activity_lines": [ 27.419333, 27.266848, 27.253392, 27.217693 ] }, { "date": "2026-08-07", "close": 29.06, "volume": 716384, "typical_volume": 968907.5, "trend": 27.335317, "fair_value": 37.923672, "relative_strength": -5.532119, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 54.112939, "energy": 41.979424, "activity_lines": [ 28.078, 27.622406, 27.432773, 27.336245 ] } ], "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." } } }