{ "ticker": { "uuid": "3346fa31-666c-4d95-a19f-9b5653f3dd18", "symbol": "BUR", "name": "Burford Capital Ltd", "exchange": "NYSE", "country": "US", "assetType": "equity" }, "methodBoundary": "Trend Architecture is a weekly structural classification, not a forecast, probability of return, recommendation or execution signal. Confidence measures geometric agreement and external confirmation only.", "analysis": { "eligible": true, "as_of": "2026-08-07", "benchmark": "SPY", "stage": 4, "stage_name": "Declining", "phase": "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": -58.379, "architecture_energy": 47.677, "architecture_maturity": 100.0, "architecture_confidence": 87.23, "architecture_tenure": "Extended", "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": 16.23, "rotation_up": 28.82, "upward_expansion": 7.57, "deceleration": 60.73, "rotation_down": 44.9, "downward_expansion": 78.57 }, "activity_lines": [ 4.202, 4.211273, 4.35924, 4.867973 ], "activity_state": "Moderate", "activity_direction": "Contracting", "rotation_direction": "Improving", "price_acceptance": -0.5 }, "latest_close": 4.42, "trend_reference": 5.878651, "distance_from_trend": -0.248127, "trend_direction": "Weakening", "fair_value": 11.576993, "distance_from_fair_value": -0.618208, "fair_value_direction": "Weakening", "relative_strength": -50.848283, "relative_strength_direction": "Improving", "price_momentum": -0.497648, "excess_performance": -0.623273, "evidence": [ { "label": "Price vs Trend", "positive": false, "value": -0.248127, "read": "Below" }, { "label": "Trend direction", "positive": false, "value": -0.210197, "read": "Falling" }, { "label": "Price vs current Fair Value", "positive": false, "value": -0.618208, "read": "Below anchor" }, { "label": "Fair Value direction", "positive": false, "value": -0.03184, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.508483, "read": "Lagging" }, { "label": "Relative strength direction", "positive": true, "value": 0.046654, "read": "Improving" }, { "label": "Price momentum", "positive": false, "value": -0.497648, "read": "Negative" }, { "label": "Volume balance", "positive": false, "value": 0.499114, "read": "Supply-led" } ], "volume": { "latest": 10886169, "relative_activity": 0.669577, "balance": 0.499114, "dry_up": 0.590839, "accumulation_observations": 0, "distribution_observations": 1 }, "risk": { "range_context": 0.108558, "annualized_volatility": 0.955641, "from_high_reference": -0.681023, "from_low_reference": 0.248185 }, "levels": { "trend_reference": 5.878651, "fair_value_reference": 11.576993, "structural_low": 3.541143, "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": 28, "median_return": 0.00185, "positive_rate": 0.5, "directional_follow_through": 0.464286, "median_excess_return": -0.009362, "regime_survival": 0.785714, "best_return": 0.833333, "worst_return": -0.355844, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 12, "median_return": 0.029578, "positive_rate": 0.666667, "directional_follow_through": 0.333333, "median_excess_return": -0.013827, "regime_survival": 0.5, "best_return": 0.75245, "worst_return": -0.526857, "sufficient": true }, { "horizon": "Extended", "sample_count": 6, "median_return": -0.014046, "positive_rate": 0.5, "directional_follow_through": 0.5, "median_excess_return": -0.014444, "regime_survival": 0.333333, "best_return": 1.041924, "worst_return": -0.651088, "sufficient": true }, { "horizon": "Full cycle", "sample_count": 4, "median_return": -0.020164, "positive_rate": 0.5, "directional_follow_through": 0.5, "median_excess_return": -0.014961, "regime_survival": 0.5, "best_return": 1.174336, "worst_return": -0.69178, "sufficient": false } ], "ledger": [ { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2024-01-05", "end": "2024-05-17", "tenure": "Established", "return": -0.029133, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2024-05-24", "end": "2024-06-14", "tenure": "New", "return": -0.043509, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2024-06-21", "end": "2024-06-28", "tenure": "New", "return": -0.008359, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2024-07-05", "end": "2024-10-04", "tenure": "Established", "return": 0.023883, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2024-10-11", "end": "2025-01-10", "tenure": "Established", "return": -0.065582, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-01-17", "end": "2025-01-24", "tenure": "New", "return": 0.067991, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-01-31", "end": "2025-02-07", "tenure": "New", "return": 0.034188, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-02-14", "end": "2025-03-21", "tenure": "Developing", "return": -0.099609, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2025-03-28", "end": "2025-04-04", "tenure": "New", "return": -0.115071, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2025-04-11", "end": "2025-04-25", "tenure": "New", "return": 0.078864, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-05-02", "end": "2025-06-13", "tenure": "Developing", "return": -0.095183, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-06-20", "end": "2025-07-11", "tenure": "New", "return": 0.285585, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-07-18", "end": "2025-09-26", "tenure": "Developing", "return": -0.139701, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-10-03", "end": "2026-08-07", "tenure": "Extended", "return": -0.622351, "active": true } ], "chart_path": [ { "date": "2023-08-18", "close": 12.497646, "volume": 2846798, "typical_volume": 3198303.2, "trend": 10.979516, "fair_value": 9.415567, "relative_strength": 19.877865, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 58.67857, "energy": 55.998561, "activity_lines": [ 12.943418, 12.571465, 12.516381, 11.964396 ] }, { "date": "2023-08-25", "close": 13.161494, "volume": 1016336, "typical_volume": 2691922.8, "trend": 11.12998, "fair_value": 9.455612, "relative_strength": 24.527311, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 62.958989, "energy": 55.740778, "activity_lines": [ 13.042835, 12.721203, 12.580812, 12.105168 ] }, { "date": "2023-09-01", "close": 13.305808, "volume": 949698, "typical_volume": 2522972.9, "trend": 11.299618, "fair_value": 9.497773, "relative_strength": 22.062654, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 65.626265, "energy": 47.81454, "activity_lines": [ 13.117237, 12.879511, 12.652268, 12.245544 ] }, { "date": "2023-09-08", "close": 15.306971, "volume": 9274291, "typical_volume": 2825285.45, "trend": 11.546497, "fair_value": 9.552881, "relative_strength": 40.632409, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 85.792002, "energy": 57.359658, "activity_lines": [ 13.842659, 13.375779, 12.908773, 12.504083 ] }, { "date": "2023-09-15", "close": 14.287148, "volume": 6500428, "typical_volume": 3045903.0, "trend": 11.759381, "fair_value": 9.598953, "relative_strength": 30.209999, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 66.900186, "energy": 55.056367, "activity_lines": [ 14.093445, 13.621376, 13.054454, 12.680899 ] }, { "date": "2023-09-22", "close": 13.844583, "volume": 2704294, "typical_volume": 3032164.15, "trend": 11.964217, "fair_value": 9.643616, "relative_strength": 28.702634, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 61.111804, "energy": 50.218063, "activity_lines": [ 14.137702, 13.740851, 13.150695, 12.815429 ] }, { "date": "2023-09-29", "close": 13.469365, "volume": 3237377, "typical_volume": 3050060.7, "trend": 12.149203, "fair_value": 9.679983, "relative_strength": 24.994537, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 59.268015, "energy": 45.278159, "activity_lines": [ 13.96709, 13.749423, 13.206472, 12.912535 ] }, { "date": "2023-10-06", "close": 12.507267, "volume": 2736869, "typical_volume": 3040217.05, "trend": 12.313931, "fair_value": 9.702747, "relative_strength": 14.805048, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 29.049305, "energy": 17.890771, "activity_lines": [ 13.455254, 13.557528, 13.167816, 12.935636 ] }, { "date": "2023-10-13", "close": 12.488025, "volume": 2016629, "typical_volume": 2976356.7, "trend": 12.514727, "fair_value": 9.727009, "relative_strength": 13.288694, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 17.136612, "energy": 15.392363, "activity_lines": [ 12.99024, 13.37228, 13.129424, 12.946868 ] }, { "date": "2023-10-20", "close": 11.910767, "volume": 1846082, "typical_volume": 2968332.95, "trend": 12.685747, "fair_value": 9.745294, "relative_strength": 9.982526, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -14.061552, "energy": 22.168693, "activity_lines": [ 12.520737, 13.096596, 13.038528, 12.907903 ] }, { "date": "2023-10-27", "close": 11.824178, "volume": 2333806, "typical_volume": 2986599.5, "trend": 12.726832, "fair_value": 9.768439, "relative_strength": 11.247588, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -26.350191, "energy": 31.547375, "activity_lines": [ 12.180795, 12.832281, 12.944105, 12.852317 ] }, { "date": "2023-11-03", "close": 12.72855, "volume": 2595973, "typical_volume": 2947045.85, "trend": 12.759438, "fair_value": 9.79506, "relative_strength": 12.481064, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -17.43613, "energy": 26.466417, "activity_lines": [ 12.277005, 12.744643, 12.939753, 12.852428 ] }, { "date": "2023-11-10", "close": 13.156954, "volume": 3632494, "typical_volume": 2998434.4, "trend": 12.793236, "fair_value": 9.820382, "relative_strength": 14.02372, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -8.267797, "energy": 14.578807, "activity_lines": [ 12.565404, 12.742768, 12.973636, 12.878074 ] }, { "date": "2023-11-17", "close": 12.828272, "volume": 1965839, "typical_volume": 2968926.05, "trend": 12.806502, "fair_value": 9.839908, "relative_strength": 8.166228, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 1.562221, "energy": 5.047898, "activity_lines": [ 12.70093, 12.683839, 12.970143, 12.880335 ] }, { "date": "2023-11-24", "close": 13.823986, "volume": 3607441, "typical_volume": 3076735.6, "trend": 12.842104, "fair_value": 9.867305, "relative_strength": 14.694505, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 43.915742, "energy": 25.223967, "activity_lines": [ 13.145677, 12.851016, 13.056196, 12.945979 ] }, { "date": "2023-12-01", "close": 13.417967, "volume": 3189528, "typical_volume": 3128631.75, "trend": 12.860981, "fair_value": 9.89436, "relative_strength": 9.778219, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 37.631807, "energy": 25.443399, "activity_lines": [ 13.327537, 12.952793, 13.093827, 12.983131 ] }, { "date": "2023-12-08", "close": 12.953945, "volume": 2301043, "typical_volume": 3139225.85, "trend": 12.863432, "fair_value": 9.921117, "relative_strength": 5.230461, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 34.957348, "energy": 23.930042, "activity_lines": [ 13.24847, 12.977959, 13.07812, 12.989129 ] }, { "date": "2023-12-15", "close": 12.741268, "volume": 5592352, "typical_volume": 3269475.65, "trend": 12.85656, "fair_value": 9.946927, "relative_strength": 0.58892, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 25.664851, "energy": 17.530212, "activity_lines": [ 13.083484, 12.973828, 13.037922, 12.981248 ] }, { "date": "2023-12-22", "close": 13.079617, "volume": 4740177, "typical_volume": 3354989.9, "trend": 12.858962, "fair_value": 9.973598, "relative_strength": 1.766825, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 30.065672, "energy": 12.22694, "activity_lines": [ 13.058994, 13.02696, 13.031492, 12.995638 ] }, { "date": "2023-12-29", "close": 15.080712, "volume": 8211658, "typical_volume": 3564955.65, "trend": 12.931595, "fair_value": 10.012739, "relative_strength": 16.021622, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 73.655866, "energy": 48.370751, "activity_lines": [ 13.684779, 13.433171, 13.216627, 13.138977 ] }, { "date": "2024-01-05", "close": 14.268674, "volume": 3484603, "typical_volume": 3596845.9, "trend": 12.985498, "fair_value": 10.048281, "relative_strength": 10.830218, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 60.895241, "energy": 55.83375, "activity_lines": [ 13.956103, 13.634103, 13.316431, 13.22524 ] }, { "date": "2024-01-12", "close": 14.665026, "volume": 4974793, "typical_volume": 3794768.75, "trend": 13.068006, "fair_value": 10.090052, "relative_strength": 11.156041, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 65.633536, "energy": 68.006625, "activity_lines": [ 14.302831, 13.862655, 13.44555, 13.333597 ] }, { "date": "2024-01-19", "close": 14.181669, "volume": 2508014, "typical_volume": 3872684.55, "trend": 13.144665, "fair_value": 10.128071, "relative_strength": 5.654251, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 58.950576, "energy": 66.722207, "activity_lines": [ 14.374367, 13.968114, 13.521476, 13.405446 ] }, { "date": "2024-01-26", "close": 14.645691, "volume": 3292889, "typical_volume": 3573614.45, "trend": 13.242243, "fair_value": 10.171444, "relative_strength": 7.372628, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 63.282237, "energy": 59.530475, "activity_lines": [ 14.504551, 14.13931, 13.637423, 13.502287 ] }, { "date": "2024-02-02", "close": 14.394346, "volume": 2284398, "typical_volume": 3362812.95, "trend": 13.329519, "fair_value": 10.213265, "relative_strength": 3.416915, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 57.036885, "energy": 43.822311, "activity_lines": [ 14.446548, 14.231763, 13.732581, 13.576616 ] }, { "date": "2024-02-09", "close": 13.881989, "volume": 2343730, "typical_volume": 3344784.75, "trend": 13.409016, "fair_value": 10.248291, "relative_strength": -2.164423, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 51.420711, "energy": 30.089945, "activity_lines": [ 14.263518, 14.220689, 13.778433, 13.612259 ] }, { "date": "2024-02-16", "close": 14.790698, "volume": 3094400, "typical_volume": 3337635.9, "trend": 13.499883, "fair_value": 10.290868, "relative_strength": 3.892869, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 60.975576, "energy": 35.129399, "activity_lines": [ 14.409169, 14.366399, 13.910651, 13.7014 ] }, { "date": "2024-02-23", "close": 15.100046, "volume": 3778149, "typical_volume": 3389699.9, "trend": 13.567708, "fair_value": 10.336737, "relative_strength": 3.623975, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 63.82863, "energy": 38.408223, "activity_lines": [ 14.649558, 14.534959, 14.066038, 13.804636 ] }, { "date": "2024-03-01", "close": 14.578021, "volume": 2594232, "typical_volume": 3418580.05, "trend": 13.610757, "fair_value": 10.381342, "relative_strength": -1.496992, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 53.101692, "energy": 34.134214, "activity_lines": [ 14.654714, 14.565718, 14.159362, 13.869818 ] }, { "date": "2024-03-08", "close": 13.553306, "volume": 5269582, "typical_volume": 3589755.05, "trend": 13.6158, "fair_value": 10.416641, "relative_strength": -8.619504, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 29.736665, "energy": 20.52307, "activity_lines": [ 14.322809, 14.382921, 14.145142, 13.866111 ] }, { "date": "2024-03-15", "close": 13.949658, "volume": 4843503, "typical_volume": 3715239.9, "trend": 13.6642, "fair_value": 10.455254, "relative_strength": -6.544728, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 32.335116, "energy": 15.664483, "activity_lines": [ 14.179091, 14.29996, 14.160847, 13.88765 ] }, { "date": "2024-03-22", "close": 14.742363, "volume": 5012493, "typical_volume": 3836065.9, "trend": 13.716896, "fair_value": 10.501626, "relative_strength": -4.077412, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 40.652797, "energy": 18.77689, "activity_lines": [ 14.295097, 14.366927, 14.241928, 13.957209 ] }, { "date": "2024-03-29", "close": 15.438395, "volume": 3166121, "typical_volume": 3812747.25, "trend": 13.787982, "fair_value": 10.541216, "relative_strength": -0.118584, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 63.334259, "energy": 30.267348, "activity_lines": [ 14.646336, 14.559039, 14.379707, 14.068274 ] }, { "date": "2024-04-05", "close": 15.129047, "volume": 3944282, "typical_volume": 3911669.4, "trend": 13.782051, "fair_value": 10.580132, "relative_strength": -1.24701, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 57.440637, "energy": 46.669619, "activity_lines": [ 14.871902, 14.672056, 14.477161, 14.154794 ] }, { "date": "2024-04-12", "close": 14.607023, "volume": 7724056, "typical_volume": 4117500.15, "trend": 13.792714, "fair_value": 10.61338, "relative_strength": -3.15932, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 51.261602, "energy": 46.603225, "activity_lines": [ 14.886725, 14.681372, 14.513942, 14.208018 ] }, { "date": "2024-04-19", "close": 14.181669, "volume": 10005155, "typical_volume": 4458281.5, "trend": 13.80395, "fair_value": 10.636109, "relative_strength": -2.876445, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 46.291391, "energy": 32.198545, "activity_lines": [ 14.689515, 14.609483, 14.506485, 14.233112 ] }, { "date": "2024-04-26", "close": 14.877702, "volume": 4174544, "typical_volume": 4551956.55, "trend": 13.850894, "fair_value": 10.654911, "relative_strength": -0.616318, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 50.485041, "energy": 25.537728, "activity_lines": [ 14.70885, 14.658698, 14.561679, 14.302386 ] }, { "date": "2024-05-03", "close": 15.312723, "volume": 3761550, "typical_volume": 4460416.45, "trend": 13.94441, "fair_value": 10.672456, "relative_strength": 1.793135, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 57.530598, "energy": 28.176332, "activity_lines": [ 14.864168, 14.785425, 14.649144, 14.396698 ] }, { "date": "2024-05-10", "close": 14.926038, "volume": 3612077, "typical_volume": 4404011.45, "trend": 14.025677, "fair_value": 10.693769, "relative_strength": -2.399438, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 47.862632, "energy": 25.05189, "activity_lines": [ 14.89897, 14.837979, 14.687536, 14.460029 ] }, { "date": "2024-05-17", "close": 13.852987, "volume": 7042761, "typical_volume": 4345566.6, "trend": 14.090417, "fair_value": 10.710702, "relative_strength": -10.583771, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 18.154049, "energy": 10.66033, "activity_lines": [ 14.589622, 14.689105, 14.614941, 14.448887 ] }, { "date": "2024-05-24", "close": 13.837636, "volume": 4931702, "typical_volume": 4417921.55, "trend": 14.157533, "fair_value": 10.72726, "relative_strength": -10.369937, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 4.09691, "energy": 6.410347, "activity_lines": [ 14.325426, 14.531992, 14.546729, 14.432579 ] }, { "date": "2024-05-31", "close": 14.022138, "volume": 4201367, "typical_volume": 4379250.25, "trend": 14.200652, "fair_value": 10.746143, "relative_strength": -8.577184, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -10.655963, "energy": 15.868672, "activity_lines": [ 14.145666, 14.410461, 14.498142, 14.423844 ] }, { "date": "2024-06-07", "close": 13.886189, "volume": 4966233, "typical_volume": 4502161.2, "trend": 14.22496, "fair_value": 10.768123, "relative_strength": -10.36086, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -16.224668, "energy": 24.131952, "activity_lines": [ 13.977628, 14.277307, 14.439669, 14.403556 ] }, { "date": "2024-06-14", "close": 13.235577, "volume": 4110519, "typical_volume": 4543042.7, "trend": 14.238537, "fair_value": 10.788457, "relative_strength": -15.737183, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -39.617378, "energy": 48.557787, "activity_lines": [ 13.687821, 14.054082, 14.32064, 14.339725 ] }, { "date": "2024-06-21", "close": 12.779178, "volume": 4496906, "typical_volume": 4653668.1, "trend": 14.20371, "fair_value": 10.806467, "relative_strength": -18.92914, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -48.51468, "energy": 59.627361, "activity_lines": [ 13.358578, 13.782302, 14.164859, 14.245572 ] }, { "date": "2024-06-28", "close": 12.672361, "volume": 37411315, "typical_volume": 6407047.35, "trend": 14.178856, "fair_value": 10.824153, "relative_strength": -19.375312, "stage": 4, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -74.017458, "energy": 73.376567, "activity_lines": [ 13.065318, 13.524334, 14.006596, 14.146776 ] }, { "date": "2024-07-05", "close": 12.604387, "volume": 4890527, "typical_volume": 6496853.7, "trend": 14.167204, "fair_value": 10.841222, "relative_strength": -21.077626, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -71.128153, "energy": 75.171018, "activity_lines": [ 12.827084, 13.281449, 13.84762, 14.045197 ] }, { "date": "2024-07-12", "close": 13.225867, "volume": 4332976, "typical_volume": 6524595.05, "trend": 14.183358, "fair_value": 10.861494, "relative_strength": -17.849474, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -63.408733, "energy": 69.330498, "activity_lines": [ 12.890527, 13.192894, 13.758243, 13.984466 ] }, { "date": "2024-07-19", "close": 13.187024, "volume": 5950863, "typical_volume": 6692426.6, "trend": 14.186938, "fair_value": 10.881637, "relative_strength": -16.279528, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -59.692871, "energy": 51.837945, "activity_lines": [ 12.985043, 13.135219, 13.674092, 13.920186 ] }, { "date": "2024-07-26", "close": 13.633713, "volume": 4009962, "typical_volume": 6629445.6, "trend": 14.138705, "fair_value": 10.904103, "relative_strength": -12.488297, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -44.100289, "energy": 29.840875, "activity_lines": [ 13.231693, 13.190379, 13.639106, 13.884494 ] }, { "date": "2024-08-02", "close": 12.682072, "volume": 4338242, "typical_volume": 6604182.55, "trend": 14.085818, "fair_value": 10.91644, "relative_strength": -16.47707, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -53.097965, "energy": 30.193729, "activity_lines": [ 13.10416, 13.0765, 13.513105, 13.790518 ] }, { "date": "2024-08-09", "close": 12.487859, "volume": 4575034, "typical_volume": 6582309.6, "trend": 14.013246, "fair_value": 10.92639, "relative_strength": -17.375982, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -64.660975, "energy": 37.963823, "activity_lines": [ 12.911242, 12.948319, 13.374644, 13.687424 ] }, { "date": "2024-08-16", "close": 12.856863, "volume": 2653278, "typical_volume": 6556667.45, "trend": 13.969086, "fair_value": 10.938946, "relative_strength": -17.881113, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -52.844634, "energy": 35.590235, "activity_lines": [ 12.849094, 12.915127, 13.282061, 13.612818 ] }, { "date": "2024-08-23", "close": 13.002522, "volume": 1894243, "typical_volume": 6454165.5, "trend": 13.914313, "fair_value": 10.948648, "relative_strength": -17.702406, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -53.198162, "energy": 37.531653, "activity_lines": [ 12.8601, 12.927133, 13.215644, 13.550459 ] }, { "date": "2024-08-30", "close": 13.11905, "volume": 2452032, "typical_volume": 6190564.3, "trend": 13.871803, "fair_value": 10.961321, "relative_strength": -16.815761, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -50.239177, "energy": 31.928956, "activity_lines": [ 12.922248, 12.964563, 13.170451, 13.499152 ] }, { "date": "2024-09-06", "close": 12.351911, "volume": 2267243, "typical_volume": 5803668.7, "trend": 13.820801, "fair_value": 10.974427, "relative_strength": -17.621521, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -63.326786, "energy": 36.598996, "activity_lines": [ 12.762994, 12.856333, 13.059283, 13.401094 ] }, { "date": "2024-09-13", "close": 12.944259, "volume": 2124130, "typical_volume": 5701148.0, "trend": 13.759253, "fair_value": 10.991872, "relative_strength": -16.444796, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -48.185205, "energy": 28.108406, "activity_lines": [ 12.8232, 12.86163, 13.013242, 13.344543 ] }, { "date": "2024-09-20", "close": 12.934548, "volume": 3365430, "typical_volume": 5681342.0, "trend": 13.68707, "fair_value": 11.009315, "relative_strength": -17.109944, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -45.920578, "energy": 26.434517, "activity_lines": [ 12.849742, 12.858982, 12.975483, 13.291337 ] }, { "date": "2024-09-27", "close": 13.167603, "volume": 2601738, "typical_volume": 5630825.05, "trend": 13.640056, "fair_value": 11.02759, "relative_strength": -15.565975, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -34.807088, "energy": 20.816968, "activity_lines": [ 12.94879, 12.904004, 12.971244, 13.257823 ] }, { "date": "2024-10-04", "close": 12.905416, "volume": 2603134, "typical_volume": 5408843.7, "trend": 13.618459, "fair_value": 11.045567, "relative_strength": -17.056744, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -32.204999, "energy": 15.462956, "activity_lines": [ 12.949438, 12.901708, 12.950409, 13.210427 ] }, { "date": "2024-10-11", "close": 13.060786, "volume": 1716433, "typical_volume": 5248080.25, "trend": 13.58883, "fair_value": 11.063939, "relative_strength": -16.612597, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -30.141973, "energy": 13.672938, "activity_lines": [ 13.016117, 12.940904, 12.948883, 13.174448 ] }, { "date": "2024-10-18", "close": 13.526896, "volume": 2119671, "typical_volume": 5143995.45, "trend": 13.548315, "fair_value": 11.082173, "relative_strength": -14.038974, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -3.014668, "energy": 7.814156, "activity_lines": [ 13.190908, 13.057961, 12.995448, 13.170452 ] }, { "date": "2024-10-25", "close": 13.167603, "volume": 2202809, "typical_volume": 5005824.25, "trend": 13.472622, "fair_value": 11.103454, "relative_strength": -15.129601, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -13.012499, "energy": 10.877884, "activity_lines": [ 13.207093, 13.090801, 13.010152, 13.14589 ] }, { "date": "2024-11-01", "close": 13.17003, "volume": 2999996, "typical_volume": 4950298.1, "trend": 13.407321, "fair_value": 11.118438, "relative_strength": -13.514089, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -11.662756, "energy": 11.982775, "activity_lines": [ 13.208549, 13.118432, 13.02851, 13.126368 ] }, { "date": "2024-11-08", "close": 13.482209, "volume": 6300525, "typical_volume": 5040479.05, "trend": 13.369827, "fair_value": 11.136001, "relative_strength": -15.008808, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -2.024411, "energy": 12.525262, "activity_lines": [ 13.313903, 13.199777, 13.076911, 13.131199 ] }, { "date": "2024-11-15", "close": 12.867608, "volume": 3930925, "typical_volume": 3366459.55, "trend": 13.326025, "fair_value": 11.154401, "relative_strength": -16.745382, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -20.826053, "energy": 9.762984, "activity_lines": [ 13.175938, 13.162774, 13.063431, 13.098798 ] }, { "date": "2024-11-22", "close": 13.462698, "volume": 3369951, "typical_volume": 3290430.75, "trend": 13.278858, "fair_value": 11.178187, "relative_strength": -13.809652, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -3.212543, "energy": 5.584422, "activity_lines": [ 13.249214, 13.224592, 13.105696, 13.107616 ] }, { "date": "2024-11-29", "close": 13.296853, "volume": 3215021, "typical_volume": 3234533.0, "trend": 13.211663, "fair_value": 11.203025, "relative_strength": -15.39738, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 17.647399, "energy": 11.283672, "activity_lines": [ 13.271489, 13.246831, 13.12808, 13.108777 ] }, { "date": "2024-12-06", "close": 12.974919, "volume": 3473822, "typical_volume": 3110680.95, "trend": 13.146625, "fair_value": 11.224108, "relative_strength": -17.724419, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -1.37391, "energy": 3.3876, "activity_lines": [ 13.177835, 13.203949, 13.119465, 13.093503 ] }, { "date": "2024-12-13", "close": 13.17003, "volume": 3912627, "typical_volume": 3105814.2, "trend": 13.12386, "fair_value": 11.24892, "relative_strength": -15.638986, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 3.702859, "energy": 3.722032, "activity_lines": [ 13.162226, 13.200045, 13.130442, 13.095013 ] }, { "date": "2024-12-20", "close": 12.613963, "volume": 5178782, "typical_volume": 3147841.2, "trend": 13.083071, "fair_value": 11.267749, "relative_strength": -17.282659, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -26.300396, "energy": 15.740133, "activity_lines": [ 12.982073, 13.090227, 13.090668, 13.062116 ] }, { "date": "2024-12-27", "close": 12.409095, "volume": 2240227, "typical_volume": 3031100.85, "trend": 13.029303, "fair_value": 11.283451, "relative_strength": -18.46842, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -32.039032, "energy": 33.544693, "activity_lines": [ 12.750541, 12.951284, 13.031707, 13.018634 ] }, { "date": "2025-01-03", "close": 12.916385, "volume": 2606787, "typical_volume": 3028776.3, "trend": 12.996976, "fair_value": 11.302223, "relative_strength": -14.111356, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -11.901379, "energy": 26.595317, "activity_lines": [ 12.758345, 12.924899, 13.021435, 13.011349 ] }, { "date": "2025-01-10", "close": 12.204228, "volume": 3404664, "typical_volume": 3104297.35, "trend": 12.962598, "fair_value": 11.3203, "relative_strength": -16.604979, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -66.368469, "energy": 56.409256, "activity_lines": [ 12.554128, 12.773599, 12.943055, 12.960204 ] }, { "date": "2025-01-17", "close": 12.770052, "volume": 4898975, "typical_volume": 3226644.5, "trend": 12.962294, "fair_value": 11.34672, "relative_strength": -14.68722, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -51.238377, "energy": 45.103672, "activity_lines": [ 12.589899, 12.742736, 12.922364, 12.947781 ] }, { "date": "2025-01-24", "close": 13.638298, "volume": 3107713, "typical_volume": 3268668.0, "trend": 12.994492, "fair_value": 11.379068, "relative_strength": -9.890344, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -13.293686, "energy": 6.41638, "activity_lines": [ 12.94175, 12.882684, 12.986026, 12.991395 ] }, { "date": "2025-01-31", "close": 13.696832, "volume": 4853644, "typical_volume": 3405143.7, "trend": 13.030906, "fair_value": 11.410582, "relative_strength": -8.100919, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 26.709031, "energy": 17.754813, "activity_lines": [ 13.244823, 13.019262, 13.049136, 13.036707 ] }, { "date": "2025-02-07", "close": 14.165099, "volume": 3568314, "typical_volume": 3415287.9, "trend": 13.062214, "fair_value": 11.444614, "relative_strength": -4.461029, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 68.620875, "energy": 49.33595, "activity_lines": [ 13.618137, 13.236723, 13.153259, 13.109881 ] }, { "date": "2025-02-14", "close": 14.984568, "volume": 3093516, "typical_volume": 3439876.8, "trend": 13.122132, "fair_value": 11.484262, "relative_strength": 0.00758, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 81.549798, "energy": 78.902578, "activity_lines": [ 14.181359, 13.587392, 13.329568, 13.233904 ] }, { "date": "2025-02-21", "close": 14.974812, "volume": 3286592, "typical_volume": 3474049.7, "trend": 13.166836, "fair_value": 11.521731, "relative_strength": 1.97965, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 78.112095, "energy": 83.322103, "activity_lines": [ 14.555973, 13.899748, 13.496295, 13.353431 ] }, { "date": "2025-02-28", "close": 15.218702, "volume": 5396864, "typical_volume": 3658071.25, "trend": 13.25139, "fair_value": 11.567232, "relative_strength": 4.907111, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 78.584377, "energy": 86.094144, "activity_lines": [ 14.864899, 14.223633, 13.676395, 13.48581 ] }, { "date": "2025-03-07", "close": 13.140764, "volume": 8435193, "typical_volume": 3973847.35, "trend": 13.273153, "fair_value": 11.596814, "relative_strength": -6.248742, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 51.331332, "energy": 56.08561, "activity_lines": [ 14.37582, 14.122352, 13.648321, 13.478673 ] }, { "date": "2025-03-14", "close": 13.248075, "volume": 5169793, "typical_volume": 4122196.55, "trend": 13.286194, "fair_value": 11.624001, "relative_strength": -2.96817, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 34.330848, "energy": 23.368698, "activity_lines": [ 13.959582, 14.02728, 13.632305, 13.477055 ] }, { "date": "2025-03-21", "close": 13.491965, "volume": 4621496, "typical_volume": 4203271.55, "trend": 13.302509, "fair_value": 11.650574, "relative_strength": -1.314217, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 31.283165, "energy": 19.877727, "activity_lines": [ 13.685776, 13.97052, 13.639134, 13.49033 ] }, { "date": "2025-03-28", "close": 13.140764, "volume": 4283737, "typical_volume": 4102432.15, "trend": 13.303232, "fair_value": 11.679007, "relative_strength": -1.958489, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 13.613246, "energy": 22.983973, "activity_lines": [ 13.394409, 13.826492, 13.610983, 13.479895 ] }, { "date": "2025-04-04", "close": 11.628649, "volume": 7058904, "typical_volume": 4258831.1, "trend": 13.279124, "fair_value": 11.697566, "relative_strength": -4.089639, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -38.695092, "energy": 36.347617, "activity_lines": [ 12.721274, 13.400794, 13.440446, 13.371857 ] }, { "date": "2025-04-11", "close": 12.370073, "volume": 6791484, "typical_volume": 4429907.75, "trend": 13.259984, "fair_value": 11.721663, "relative_strength": -3.000889, "stage": 1, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -25.413723, "energy": 38.017706, "activity_lines": [ 12.534617, 13.14644, 13.346421, 13.313209 ] }, { "date": "2025-04-18", "close": 13.521231, "volume": 5209907, "typical_volume": 4529652.05, "trend": 13.27954, "fair_value": 11.753926, "relative_strength": 7.830588, "stage": 1, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -13.094415, "energy": 22.665551, "activity_lines": [ 12.783059, 13.12551, 13.367232, 13.330064 ] }, { "date": "2025-04-25", "close": 13.345631, "volume": 3374135, "typical_volume": 4524667.7, "trend": 13.285474, "fair_value": 11.788327, "relative_strength": 2.192986, "stage": 2, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -12.71772, "energy": 17.894165, "activity_lines": [ 12.954757, 13.084359, 13.370252, 13.334328 ] }, { "date": "2025-05-02", "close": 13.628543, "volume": 4558844, "typical_volume": 4556978.55, "trend": 13.309579, "fair_value": 11.827928, "relative_strength": 1.910323, "stage": 2, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 10.080801, "energy": 6.992543, "activity_lines": [ 13.230515, 13.124445, 13.39845, 13.356461 ] }, { "date": "2025-05-09", "close": 13.452942, "volume": 3420464, "typical_volume": 4469062.65, "trend": 13.322651, "fair_value": 11.867794, "relative_strength": 1.457189, "stage": 2, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 12.80251, "energy": 13.468508, "activity_lines": [ 13.415221, 13.157082, 13.407741, 13.36571 ] }, { "date": "2025-05-16", "close": 13.306609, "volume": 6256203, "typical_volume": 4669861.45, "trend": 13.315308, "fair_value": 11.905694, "relative_strength": -4.368279, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 13.092909, "energy": 11.872081, "activity_lines": [ 13.429529, 13.195218, 13.399101, 13.364675 ] }, { "date": "2025-05-23", "close": 12.782246, "volume": 4688584, "typical_volume": 4773951.3, "trend": 13.302462, "fair_value": 11.934826, "relative_strength": -5.401557, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 2.26285, "energy": 4.234474, "activity_lines": [ 13.206614, 13.134999, 13.336247, 13.330284 ] }, { "date": "2025-05-30", "close": 12.605804, "volume": 9695383, "typical_volume": 5088487.25, "trend": 13.283655, "fair_value": 11.960634, "relative_strength": -7.914199, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -23.11246, "energy": 15.939756, "activity_lines": [ 12.974151, 13.05117, 13.257228, 13.285339 ] }, { "date": "2025-06-06", "close": 13.066514, "volume": 5525977, "typical_volume": 5119837.35, "trend": 13.269798, "fair_value": 11.987812, "relative_strength": -5.748891, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -16.384078, "energy": 19.170753, "activity_lines": [ 12.944579, 13.067218, 13.220174, 13.271329 ] }, { "date": "2025-06-13", "close": 12.331339, "volume": 5357108, "typical_volume": 5232307.1, "trend": 13.251923, "fair_value": 12.012653, "relative_strength": -10.432351, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -58.590578, "energy": 46.944824, "activity_lines": [ 12.707418, 12.950948, 13.111691, 13.210784 ] }, { "date": "2025-06-20", "close": 10.811977, "volume": 12344459, "typical_volume": 5606847.85, "trend": 13.163565, "fair_value": 12.0255, "relative_strength": -20.975982, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -79.981627, "energy": 70.303736, "activity_lines": [ 12.038576, 12.545654, 12.864731, 13.053368 ] }, { "date": "2025-06-27", "close": 11.458931, "volume": 11578070, "typical_volume": 6007335.65, "trend": 13.102301, "fair_value": 12.039145, "relative_strength": -18.721954, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -67.224211, "energy": 68.32366, "activity_lines": [ 11.751694, 12.286317, 12.693123, 12.943391 ] }, { "date": "2025-07-04", "close": 13.821294, "volume": 25505952, "typical_volume": 7127957.45, "trend": 13.130514, "fair_value": 12.066959, "relative_strength": -3.527569, "stage": 2, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -36.4736, "energy": 38.244568, "activity_lines": [ 12.340488, 12.493997, 12.759388, 12.989778 ] }, { "date": "2025-07-11", "close": 13.899713, "volume": 11833469, "typical_volume": 7555301.3, "trend": 13.154837, "fair_value": 12.093814, "relative_strength": -2.57992, "stage": 2, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -15.933696, "energy": 11.627556, "activity_lines": [ 12.874388, 12.707287, 12.838662, 13.039404 ] }, { "date": "2025-07-18", "close": 13.752678, "volume": 9388746, "typical_volume": 7754895.4, "trend": 13.192794, "fair_value": 12.117534, "relative_strength": -4.024645, "stage": 2, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 7.285583, "energy": 16.559209, "activity_lines": [ 13.303731, 12.888913, 12.909051, 13.077974 ] }, { "date": "2025-07-25", "close": 13.507619, "volume": 5049158, "typical_volume": 7585593.65, "trend": 13.229411, "fair_value": 12.139195, "relative_strength": -6.817619, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 13.76137, "energy": 26.801347, "activity_lines": [ 13.556631, 13.020532, 12.963083, 13.098285 ] }, { "date": "2025-08-01", "close": 12.184304, "volume": 6519693, "typical_volume": 7653088.65, "trend": 13.205009, "fair_value": 12.151643, "relative_strength": -13.538648, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -24.797334, "energy": 20.133901, "activity_lines": [ 13.188717, 12.907895, 12.889338, 13.030859 ] }, { "date": "2025-08-08", "close": 13.154735, "volume": 5403710, "typical_volume": 7692199.35, "trend": 13.236692, "fair_value": 12.171834, "relative_strength": -8.678957, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -9.9202, "energy": 8.535204, "activity_lines": [ 13.095921, 12.982571, 12.91308, 13.027616 ] }, { "date": "2025-08-15", "close": 13.13513, "volume": 8251314, "typical_volume": 7890578.2, "trend": 13.248861, "fair_value": 12.196772, "relative_strength": -9.46587, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -20.633143, "energy": 8.861976, "activity_lines": [ 13.041028, 13.043701, 12.936561, 13.021063 ] }, { "date": "2025-08-22", "close": 13.703666, "volume": 8018515, "typical_volume": 7938558.75, "trend": 13.25104, "fair_value": 12.226573, "relative_strength": -5.645311, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -2.470681, "energy": 3.285921, "activity_lines": [ 13.226619, 13.206955, 13.014215, 13.050406 ] }, { "date": "2025-08-29", "close": 13.723271, "volume": 5749076, "typical_volume": 7886438.35, "trend": 13.251922, "fair_value": 12.259301, "relative_strength": -5.287045, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 25.965978, "energy": 17.868152, "activity_lines": [ 13.422012, 13.348821, 13.083855, 13.080872 ] }, { "date": "2025-09-05", "close": 13.066514, "volume": 6052888, "typical_volume": 7928587.4, "trend": 13.215302, "fair_value": 12.291047, "relative_strength": -9.896954, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 18.037406, "energy": 17.921385, "activity_lines": [ 13.38411, 13.318345, 13.084503, 13.06891 ] }, { "date": "2025-09-12", "close": 12.654816, "volume": 8760810, "typical_volume": 8197921.15, "trend": 13.137644, "fair_value": 12.322833, "relative_strength": -13.784785, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -1.725313, "energy": 5.534808, "activity_lines": [ 13.150161, 13.183786, 13.048107, 13.03275 ] }, { "date": "2025-09-19", "close": 12.194106, "volume": 7058063, "typical_volume": 8322882.1, "trend": 13.044954, "fair_value": 12.355808, "relative_strength": -17.607136, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -43.041525, "energy": 21.721296, "activity_lines": [ 12.79597, 12.98667, 12.971124, 12.971877 ] }, { "date": "2025-09-26", "close": 11.83142, "volume": 5374457, "typical_volume": 8420581.75, "trend": 12.932044, "fair_value": 12.385971, "relative_strength": -19.452507, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -61.440273, "energy": 46.193042, "activity_lines": [ 12.383618, 12.754622, 12.866429, 12.893584 ] }, { "date": "2025-10-03", "close": 11.703989, "volume": 5628745, "typical_volume": 8389208.85, "trend": 12.884152, "fair_value": 12.412759, "relative_strength": -20.835935, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -67.240552, "energy": 65.50351, "activity_lines": [ 12.053606, 12.534336, 12.75732, 12.814355 ] }, { "date": "2025-10-10", "close": 10.959012, "volume": 8415251, "typical_volume": 8575542.2, "trend": 12.807849, "fair_value": 12.439218, "relative_strength": -23.636561, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -81.001142, "energy": 79.323492, "activity_lines": [ 11.609887, 12.211394, 12.584893, 12.690152 ] }, { "date": "2025-10-17", "close": 10.508104, "volume": 9243696, "typical_volume": 8552957.85, "trend": 12.708387, "fair_value": 12.460167, "relative_strength": -27.549576, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -83.521749, "energy": 85.387724, "activity_lines": [ 11.156365, 11.828746, 12.378203, 12.541781 ] }, { "date": "2025-10-24", "close": 10.478697, "volume": 9065366, "typical_volume": 8729927.3, "trend": 12.619652, "fair_value": 12.478187, "relative_strength": -28.650083, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -77.865054, "energy": 85.984306, "activity_lines": [ 10.836156, 11.488873, 12.178702, 12.39793 ] }, { "date": "2025-10-31", "close": 9.814589, "volume": 21018255, "typical_volume": 9512984.65, "trend": 12.559183, "fair_value": 12.490333, "relative_strength": -33.11225, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -83.424749, "energy": 90.098728, "activity_lines": [ 10.408937, 11.076551, 11.928276, 12.216959 ] }, { "date": "2025-11-07", "close": 8.838062, "volume": 17976785, "typical_volume": 9794600.95, "trend": 12.44145, "fair_value": 12.49223, "relative_strength": -38.23971, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -89.906764, "energy": 94.782192, "activity_lines": [ 9.790665, 10.557389, 11.596832, 11.976886 ] }, { "date": "2025-11-14", "close": 8.473097, "volume": 12328466, "typical_volume": 9832120.75, "trend": 12.273178, "fair_value": 12.491111, "relative_strength": -40.357129, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -88.855314, "energy": 95.274937, "activity_lines": [ 9.2418, 10.060692, 11.240028, 11.720864 ] }, { "date": "2025-11-21", "close": 8.5816, "volume": 14287061, "typical_volume": 9271176.2, "trend": 12.114377, "fair_value": 12.490627, "relative_strength": -37.853648, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -78.997894, "energy": 92.042753, "activity_lines": [ 8.89483, 9.667239, 10.907777, 11.482697 ] }, { "date": "2025-11-28", "close": 9.43976, "volume": 10282391, "typical_volume": 9193622.3, "trend": 11.974751, "fair_value": 12.496257, "relative_strength": -33.556124, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -68.013261, "energy": 86.251417, "activity_lines": [ 8.962347, 9.503874, 10.682206, 11.310141 ] }, { "date": "2025-12-05", "close": 9.163571, "volume": 8399276, "typical_volume": 9144148.8, "trend": 11.831772, "fair_value": 12.501407, "relative_strength": -35.222653, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -66.10207, "energy": 75.107559, "activity_lines": [ 9.007063, 9.340372, 10.451569, 11.128775 ] }, { "date": "2025-12-12", "close": 8.877518, "volume": 12024443, "typical_volume": 9492913.05, "trend": 11.684136, "fair_value": 12.509081, "relative_strength": -36.346658, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -68.991579, "energy": 64.820299, "activity_lines": [ 8.99983, 9.173367, 10.215542, 10.938178 ] }, { "date": "2025-12-19", "close": 9.143843, "volume": 10842170, "typical_volume": 9709036.9, "trend": 11.562856, "fair_value": 12.519321, "relative_strength": -34.011888, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -61.650529, "energy": 58.140211, "activity_lines": [ 9.078741, 9.106174, 10.026927, 10.774288 ] }, { "date": "2025-12-26", "close": 8.966293, "volume": 5012269, "typical_volume": 9689464.85, "trend": 11.441539, "fair_value": 12.526767, "relative_strength": -35.71182, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -55.01541, "energy": 54.934803, "activity_lines": [ 9.053753, 9.039703, 9.835881, 10.606768 ] }, { "date": "2026-01-02", "close": 8.63092, "volume": 6210018, "typical_volume": 9587400.05, "trend": 11.293686, "fair_value": 12.528685, "relative_strength": -36.902615, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -70.284828, "energy": 60.607763, "activity_lines": [ 8.891327, 8.940288, 9.63284, 10.425437 ] }, { "date": "2026-01-09", "close": 9.31153, "volume": 8116876, "typical_volume": 9592318.1, "trend": 11.193025, "fair_value": 12.532328, "relative_strength": -32.486678, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -50.768863, "energy": 47.993174, "activity_lines": [ 9.009694, 8.998216, 9.516067, 10.297556 ] }, { "date": "2026-01-16", "close": 9.587719, "volume": 6736587, "typical_volume": 9641693.65, "trend": 11.152217, "fair_value": 12.539275, "relative_strength": -29.714256, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -47.683163, "energy": 40.579475, "activity_lines": [ 9.21026, 9.115507, 9.446513, 10.193988 ] }, { "date": "2026-01-23", "close": 9.617311, "volume": 6457785, "typical_volume": 9661938.5, "trend": 11.090829, "fair_value": 12.545491, "relative_strength": -28.64051, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -41.033239, "energy": 29.305421, "activity_lines": [ 9.373344, 9.224548, 9.399471, 10.094962 ] }, { "date": "2026-01-30", "close": 9.558127, "volume": 9404257, "typical_volume": 9694110.85, "trend": 10.948724, "fair_value": 12.55409, "relative_strength": -28.71461, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -35.59157, "energy": 25.264402, "activity_lines": [ 9.485134, 9.302024, 9.363216, 9.996078 ] }, { "date": "2026-02-06", "close": 8.798606, "volume": 10125427, "typical_volume": 9847479.05, "trend": 10.778687, "fair_value": 12.559847, "relative_strength": -33.517592, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -53.613989, "energy": 29.870823, "activity_lines": [ 9.304296, 9.223651, 9.269373, 9.857361 ] }, { "date": "2026-02-13", "close": 9.26221, "volume": 6200573, "typical_volume": 9888784.85, "trend": 10.629005, "fair_value": 12.568575, "relative_strength": -28.292412, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -28.424991, "energy": 22.740918, "activity_lines": [ 9.266813, 9.241227, 9.235851, 9.759524 ] }, { "date": "2026-02-20", "close": 9.518672, "volume": 5863624, "typical_volume": 9900528.8, "trend": 10.49604, "fair_value": 12.580236, "relative_strength": -26.271226, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -26.629465, "energy": 21.962079, "activity_lines": [ 9.318106, 9.303638, 9.238989, 9.687889 ] }, { "date": "2026-02-27", "close": 8.325139, "volume": 10884888, "typical_volume": 10024010.65, "trend": 10.367401, "fair_value": 12.582835, "relative_strength": -34.262547, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -72.100386, "energy": 46.493746, "activity_lines": [ 8.976157, 9.137387, 9.138862, 9.547831 ] }, { "date": "2026-03-06", "close": 7.664257, "volume": 12281611, "typical_volume": 10175906.4, "trend": 10.184385, "fair_value": 12.583468, "relative_strength": -37.495204, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -80.199196, "energy": 63.480891, "activity_lines": [ 8.500059, 8.86586, 8.988338, 9.373435 ] }, { "date": "2026-03-13", "close": 7.812216, "volume": 11872323, "typical_volume": 10316254.25, "trend": 10.006955, "fair_value": 12.59211, "relative_strength": -34.487576, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -73.390377, "energy": 73.104646, "activity_lines": [ 8.199539, 8.644909, 8.865446, 9.220392 ] }, { "date": "2026-03-20", "close": 7.59521, "volume": 12753839, "typical_volume": 9903033.45, "trend": 9.803339, "fair_value": 12.597334, "relative_strength": -34.265475, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -72.683643, "energy": 79.312515, "activity_lines": [ 7.892442, 8.399387, 8.734585, 9.064795 ] }, { "date": "2026-03-27", "close": 4.083658, "volume": 43821459, "typical_volume": 11195267.15, "trend": 9.482019, "fair_value": 12.555617, "relative_strength": -63.154702, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -95.404489, "energy": 93.929924, "activity_lines": [ 6.525962, 7.546608, 8.279859, 8.695783 ] }, { "date": "2026-04-03", "close": 4.083658, "volume": 52894221, "typical_volume": 13223554.9, "trend": 9.18259, "fair_value": 12.506471, "relative_strength": -63.694981, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -92.774293, "energy": 96.423626, "activity_lines": [ 5.521816, 6.793902, 7.847773, 8.347502 ] }, { "date": "2026-04-10", "close": 4.300664, "volume": 18105251, "typical_volume": 13414464.4, "trend": 8.904119, "fair_value": 12.456199, "relative_strength": -62.373842, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -81.418908, "energy": 92.92596, "activity_lines": [ 4.872771, 6.181263, 7.457256, 8.032539 ] }, { "date": "2026-04-17", "close": 4.892499, "volume": 15153451, "typical_volume": 13658017.4, "trend": 8.660732, "fair_value": 12.40788, "relative_strength": -58.131425, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -68.30452, "energy": 88.317612, "activity_lines": [ 4.645243, 5.771821, 7.14349, 7.773725 ] }, { "date": "2026-04-24", "close": 4.813587, "volume": 11972458, "typical_volume": 13836676.5, "trend": 8.426804, "fair_value": 12.356968, "relative_strength": -58.156893, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -66.559382, "energy": 84.716721, "activity_lines": [ 4.58606, 5.419052, 6.843862, 7.525522 ] }, { "date": "2026-05-01", "close": 5.129232, "volume": 14341997, "typical_volume": 13952554.2, "trend": 8.207645, "fair_value": 12.307465, "relative_strength": -54.902221, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -63.867257, "energy": 63.307356, "activity_lines": [ 4.817533, 5.204557, 6.595009, 7.312775 ] }, { "date": "2026-05-08", "close": 5.070049, "volume": 21376577, "typical_volume": 14479274.55, "trend": 8.011347, "fair_value": 12.257399, "relative_strength": -55.513719, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -60.570891, "energy": 56.159573, "activity_lines": [ 4.959573, 5.059109, 6.358369, 7.11035 ] }, { "date": "2026-05-15", "close": 4.586717, "volume": 19791806, "typical_volume": 15218251.4, "trend": 7.813967, "fair_value": 12.203804, "relative_strength": -58.999789, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -66.040234, "energy": 55.350156, "activity_lines": [ 4.874743, 4.884966, 6.095097, 6.889406 ] }, { "date": "2026-05-22", "close": 4.53, "volume": 14279827, "typical_volume": 15621741.85, "trend": 7.615677, "fair_value": 12.149461, "relative_strength": -59.01181, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -63.930469, "energy": 52.81388, "activity_lines": [ 4.751938, 4.756466, 5.847278, 6.677537 ] }, { "date": "2026-05-29", "close": 4.64, "volume": 9971730, "typical_volume": 15714484.55, "trend": 7.443191, "fair_value": 12.096501, "relative_strength": -57.76886, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -62.010796, "energy": 53.482984, "activity_lines": [ 4.689965, 4.707643, 5.629463, 6.485558 ] }, { "date": "2026-06-05", "close": 4.45, "volume": 14288177, "typical_volume": 16092064.05, "trend": 7.296922, "fair_value": 12.043927, "relative_strength": -57.558066, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -65.802767, "energy": 56.135815, "activity_lines": [ 4.576232, 4.678006, 5.415799, 6.292449 ] }, { "date": "2026-06-12", "close": 4.27, "volume": 8560912, "typical_volume": 16197220.4, "trend": 7.156819, "fair_value": 11.993159, "relative_strength": -58.658949, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -68.348207, "energy": 56.735987, "activity_lines": [ 4.447781, 4.60898, 5.209457, 6.097164 ] }, { "date": "2026-06-19", "close": 4.53, "volume": 8916474, "typical_volume": 16172831.25, "trend": 7.021766, "fair_value": 11.946032, "relative_strength": -55.794832, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -62.482553, "energy": 52.001719, "activity_lines": [ 4.459333, 4.583839, 5.05334, 5.927692 ] }, { "date": "2026-06-26", "close": 4.19, "volume": 13440692, "typical_volume": 16338594.5, "trend": 6.846774, "fair_value": 11.897773, "relative_strength": -57.334262, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -72.677896, "energy": 82.11637, "activity_lines": [ 4.361333, 4.49271, 4.888786, 5.744997 ] }, { "date": "2026-07-03", "close": 4.26, "volume": 9354513, "typical_volume": 16496291.5, "trend": 6.683321, "fair_value": 11.849593, "relative_strength": -56.508881, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -67.575908, "energy": 78.573682, "activity_lines": [ 4.309333, 4.427081, 4.752844, 5.578108 ] }, { "date": "2026-07-10", "close": 4.19, "volume": 10472025, "typical_volume": 16726711.55, "trend": 6.527071, "fair_value": 11.802753, "relative_strength": -56.724987, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -68.262414, "energy": 76.725417, "activity_lines": [ 4.259333, 4.358791, 4.634056, 5.417249 ] }, { "date": "2026-07-17", "close": 3.92, "volume": 9490310, "typical_volume": 16656982.65, "trend": 6.352942, "fair_value": 11.750543, "relative_strength": -57.810481, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -75.854106, "energy": 83.242814, "activity_lines": [ 4.136667, 4.258486, 4.514928, 5.249051 ] }, { "date": "2026-07-24", "close": 4.14, "volume": 9979765, "typical_volume": 16541890.35, "trend": 6.192066, "fair_value": 11.69333, "relative_strength": -54.060794, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -63.401599, "energy": 59.2274, "activity_lines": [ 4.110667, 4.219091, 4.437729, 5.10628 ] }, { "date": "2026-07-31", "close": 4.12, "volume": 8067845, "typical_volume": 16351666.45, "trend": 6.041702, "fair_value": 11.63457, "relative_strength": -53.735289, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -62.546577, "energy": 56.145225, "activity_lines": [ 4.104, 4.184182, 4.375408, 4.972599 ] }, { "date": "2026-08-07", "close": 4.42, "volume": 10886169, "typical_volume": 16258282.95, "trend": 5.878651, "fair_value": 11.576993, "relative_strength": -50.848283, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -58.379279, "energy": 47.677082, "activity_lines": [ 4.202, 4.211273, 4.35924, 4.867973 ] } ], "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." } } }