{ "ticker": { "uuid": "334c6ce0-014e-4ee3-bbdd-9b1181764812", "symbol": "ESTER", "name": "Ester Industries Limited", "exchange": "NSI", "country": "IN", "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": "^NSEI", "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": "Early contraction", "architecture_gate": "down", "architecture_direction": -58.336, "architecture_energy": 49.212, "architecture_maturity": 6.406, "architecture_confidence": 93.264, "architecture_tenure": "New", "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": 23.0, "rotation_up": 12.87, "upward_expansion": 9.5, "deceleration": 39.94, "rotation_down": 63.11, "downward_expansion": 85.17 }, "activity_lines": [ 88.13, 89.237273, 90.692001, 91.240065 ], "activity_state": "Moderate", "activity_direction": "Expanding", "rotation_direction": "Weakening", "price_acceptance": -0.833333 }, "latest_close": 87.349998, "trend_reference": 92.441667, "distance_from_trend": -0.05508, "trend_direction": "Weakening", "fair_value": 112.945311, "distance_from_fair_value": -0.226617, "fair_value_direction": "Weakening", "relative_strength": -11.461256, "relative_strength_direction": "Weakening", "price_momentum": -0.09809, "excess_performance": -0.054381, "evidence": [ { "label": "Price vs Trend", "positive": false, "value": -0.05508, "read": "Below" }, { "label": "Trend direction", "positive": false, "value": -0.053253, "read": "Falling" }, { "label": "Price vs current Fair Value", "positive": false, "value": -0.226617, "read": "Below anchor" }, { "label": "Fair Value direction", "positive": false, "value": -0.12203, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.114613, "read": "Lagging" }, { "label": "Relative strength direction", "positive": false, "value": -0.100846, "read": "Weakening" }, { "label": "Price momentum", "positive": false, "value": -0.09809, "read": "Negative" }, { "label": "Volume balance", "positive": false, "value": 0.064733, "read": "Supply-led" } ], "volume": { "latest": 320664, "relative_activity": 0.611382, "balance": 0.064733, "dry_up": 0.545615, "accumulation_observations": 0, "distribution_observations": 1 }, "risk": { "range_context": 0.06359, "annualized_volatility": 0.419253, "from_high_reference": -0.340506, "from_low_reference": 0.274252 }, "levels": { "trend_reference": 92.441667, "fair_value_reference": 112.945311, "structural_low": 68.550003, "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": 25, "median_return": 0.00641, "positive_rate": 0.52, "directional_follow_through": 0.48, "median_excess_return": -0.013103, "regime_survival": 0.8, "best_return": 0.234991, "worst_return": -0.223496, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 10, "median_return": -0.057953, "positive_rate": 0.2, "directional_follow_through": 0.8, "median_excess_return": -0.09569, "regime_survival": 0.6, "best_return": 0.040204, "worst_return": -0.134827, "sufficient": true }, { "horizon": "Extended", "sample_count": 5, "median_return": -0.108883, "positive_rate": 0.2, "directional_follow_through": 0.8, "median_excess_return": -0.148979, "regime_survival": 0.4, "best_return": 0.120161, "worst_return": -0.160722, "sufficient": true }, { "horizon": "Full cycle", "sample_count": 3, "median_return": -0.206193, "positive_rate": 0.333333, "directional_follow_through": 0.666667, "median_excess_return": -0.340548, "regime_survival": 0.333333, "best_return": 0.131573, "worst_return": -0.256391, "sufficient": false } ], "ledger": [ { "regime": "balance", "label": "Balance", "color": "blue", "start": "2024-01-12", "end": "2024-01-19", "tenure": "New", "return": -0.028823, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2024-01-26", "end": "2024-02-09", "tenure": "New", "return": -0.055988, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2024-02-16", "end": "2024-04-19", "tenure": "Developing", "return": -0.035827, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2024-04-26", "end": "2024-06-14", "tenure": "Developing", "return": -0.033007, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2024-06-21", "end": "2024-08-02", "tenure": "Developing", "return": 0.25163, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2024-08-09", "end": "2024-10-18", "tenure": "Developing", "return": -0.004774, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2024-10-25", "end": "2024-12-20", "tenure": "Developing", "return": 0.149479, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2024-12-27", "end": "2025-02-07", "tenure": "Developing", "return": -0.031299, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-02-14", "end": "2025-02-28", "tenure": "New", "return": -0.099751, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-03-07", "end": "2025-06-06", "tenure": "Established", "return": 0.024085, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-06-13", "end": "2025-08-01", "tenure": "Developing", "return": -0.130954, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-08-08", "end": "2026-05-08", "tenure": "Extended", "return": -0.022608, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-05-15", "end": "2026-07-31", "tenure": "Developing", "return": -0.101043, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2026-08-07", "end": "2026-08-07", "tenure": "New", "return": 0.0, "active": true } ], "chart_path": [ { "date": "2023-08-18", "close": 91.137505, "volume": 1033558, "typical_volume": 651594.5, "trend": 106.833411, "fair_value": 124.492565, "relative_strength": -32.043502, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -41.170625, "energy": 58.459473, "activity_lines": [ 97.948903, 102.269937, 107.695025, 107.031054 ] }, { "date": "2023-08-25", "close": 92.12706, "volume": 772812, "typical_volume": 672727.4, "trend": 105.875197, "fair_value": 124.682542, "relative_strength": -30.305537, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -44.646657, "energy": 66.186021, "activity_lines": [ 94.851615, 99.868031, 106.024572, 106.082258 ] }, { "date": "2023-09-01", "close": 94.749359, "volume": 865469, "typical_volume": 693261.7, "trend": 105.039028, "fair_value": 124.851207, "relative_strength": -28.054592, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -38.369697, "energy": 66.889764, "activity_lines": [ 93.766409, 98.349522, 104.628835, 105.364462 ] }, { "date": "2023-09-08", "close": 93.116608, "volume": 928948, "typical_volume": 724885.65, "trend": 104.118747, "fair_value": 125.000026, "relative_strength": -29.752319, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -36.948052, "energy": 65.93564, "activity_lines": [ 93.001158, 96.799528, 103.121657, 104.595273 ] }, { "date": "2023-09-15", "close": 93.116608, "volume": 721899, "typical_volume": 747215.8, "trend": 103.978561, "fair_value": 125.122523, "relative_strength": -30.058559, "stage": 4, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -62.698033, "energy": 67.611043, "activity_lines": [ 93.179278, 95.541901, 101.679978, 103.885458 ] }, { "date": "2023-09-22", "close": 93.115021, "volume": 391209, "typical_volume": 741156.3, "trend": 103.953769, "fair_value": 125.27103, "relative_strength": -27.211921, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -61.59424, "energy": 55.336936, "activity_lines": [ 93.267809, 94.534072, 100.323909, 103.184584 ] }, { "date": "2023-09-29", "close": 93.612434, "volume": 607194, "typical_volume": 696100.65, "trend": 103.8532, "fair_value": 125.401546, "relative_strength": -25.654913, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -58.691992, "energy": 45.708419, "activity_lines": [ 93.39031, 93.857801, 99.129254, 102.517401 ] }, { "date": "2023-10-06", "close": 96.795853, "volume": 857248, "typical_volume": 692703.25, "trend": 103.784529, "fair_value": 125.430843, "relative_strength": -21.91565, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -45.337991, "energy": 35.217765, "activity_lines": [ 94.474926, 94.043684, 98.391156, 102.062089 ] }, { "date": "2023-10-13", "close": 92.916061, "volume": 544160, "typical_volume": 680891.9, "trend": 103.847112, "fair_value": 125.457658, "relative_strength": -24.229805, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -48.849666, "energy": 35.431957, "activity_lines": [ 94.129845, 93.722635, 97.423656, 101.360897 ] }, { "date": "2023-10-20", "close": 93.711914, "volume": 364847, "typical_volume": 646459.25, "trend": 104.086306, "fair_value": 125.344651, "relative_strength": -21.498568, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -46.683757, "energy": 33.206809, "activity_lines": [ 94.063417, 93.807215, 96.661547, 100.707013 ] }, { "date": "2023-10-27", "close": 90.180313, "volume": 327676, "typical_volume": 620350.7, "trend": 104.225921, "fair_value": 125.18692, "relative_strength": -21.23612, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -64.843001, "energy": 40.415404, "activity_lines": [ 92.780103, 93.214574, 95.647907, 99.809853 ] }, { "date": "2023-11-03", "close": 91.025902, "volume": 263293, "typical_volume": 609000.7, "trend": 104.014396, "fair_value": 125.051763, "relative_strength": -20.15208, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -60.520149, "energy": 42.224133, "activity_lines": [ 91.974299, 92.793079, 94.856009, 98.958238 ] }, { "date": "2023-11-10", "close": 86.151291, "volume": 513489, "typical_volume": 611261.1, "trend": 103.419384, "fair_value": 124.913848, "relative_strength": -24.155311, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -75.859954, "energy": 65.999809, "activity_lines": [ 89.716059, 91.505312, 93.7116, 97.80578 ] }, { "date": "2023-11-17", "close": 86.201035, "volume": 254584, "typical_volume": 610424.85, "trend": 102.730374, "fair_value": 124.654331, "relative_strength": -24.52369, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -74.566172, "energy": 76.560937, "activity_lines": [ 88.184039, 90.382919, 92.682376, 96.694919 ] }, { "date": "2023-11-24", "close": 81.82383, "volume": 530915, "typical_volume": 614544.35, "trend": 101.753621, "fair_value": 124.399533, "relative_strength": -27.751004, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -83.471269, "energy": 86.434767, "activity_lines": [ 85.640619, 88.590407, 91.345779, 95.346109 ] }, { "date": "2023-12-01", "close": 89.533676, "volume": 2054904, "typical_volume": 693154.65, "trend": 100.835953, "fair_value": 124.217745, "relative_strength": -22.02213, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -63.776433, "energy": 68.431454, "activity_lines": [ 86.459686, 88.405009, 90.862726, 94.557726 ] }, { "date": "2023-12-08", "close": 90.727455, "volume": 1231555, "typical_volume": 715385.45, "trend": 99.666161, "fair_value": 124.024004, "relative_strength": -22.820226, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -58.770205, "energy": 44.969597, "activity_lines": [ 87.719789, 88.501777, 90.573572, 93.905565 ] }, { "date": "2023-12-15", "close": 88.24041, "volume": 454035, "typical_volume": 724356.0, "trend": 98.400274, "fair_value": 123.843422, "relative_strength": -25.804003, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -54.784096, "energy": 38.259072, "activity_lines": [ 88.170773, 88.198809, 90.135505, 93.168419 ] }, { "date": "2023-12-22", "close": 87.842491, "volume": 487127, "typical_volume": 726908.3, "trend": 97.32398, "fair_value": 123.682958, "relative_strength": -25.111871, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -41.720062, "energy": 25.248739, "activity_lines": [ 88.349843, 87.979046, 89.752265, 92.487272 ] }, { "date": "2023-12-29", "close": 88.339897, "volume": 339434, "typical_volume": 677217.8, "trend": 96.551236, "fair_value": 123.519862, "relative_strength": -25.209397, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -38.546556, "energy": 23.154553, "activity_lines": [ 88.585284, 87.941967, 89.508895, 91.907654 ] }, { "date": "2024-01-05", "close": 96.049744, "volume": 2309788, "typical_volume": 741029.3, "trend": 95.758412, "fair_value": 123.376473, "relative_strength": -17.804798, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -12.525591, "energy": 10.240915, "activity_lines": [ 90.95627, 89.404351, 90.016182, 91.8753 ] }, { "date": "2024-01-12", "close": 101.819687, "volume": 2139631, "typical_volume": 809370.25, "trend": 95.33604, "fair_value": 123.286001, "relative_strength": -12.833596, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": 14.903458, "energy": 21.945355, "activity_lines": [ 94.816166, 91.809099, 91.049595, 92.26635 ] }, { "date": "2024-01-19", "close": 98.884972, "volume": 1461153, "typical_volume": 839154.45, "trend": 94.987365, "fair_value": 123.21317, "relative_strength": -13.53916, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 24.249873, "energy": 30.668437, "activity_lines": [ 96.958342, 93.484012, 91.757356, 92.495313 ] }, { "date": "2024-01-26", "close": 95.950256, "volume": 483196, "typical_volume": 816866.85, "trend": 94.545814, "fair_value": 123.105904, "relative_strength": -14.305923, "stage": 4, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 19.30759, "energy": 33.57553, "activity_lines": [ 97.412641, 94.393819, 92.165927, 92.557435 ] }, { "date": "2024-02-02", "close": 95.90052, "volume": 757814, "typical_volume": 818662.6, "trend": 94.180119, "fair_value": 123.068469, "relative_strength": -15.595401, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 19.588988, "energy": 38.64174, "activity_lines": [ 97.309844, 95.117324, 92.556268, 92.644835 ] }, { "date": "2024-02-09", "close": 90.578239, "volume": 989045, "typical_volume": 848554.4, "trend": 93.653509, "fair_value": 122.999368, "relative_strength": -19.241313, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 13.457283, "energy": 12.889058, "activity_lines": [ 94.928912, 94.617202, 92.426468, 92.412456 ] }, { "date": "2024-02-16", "close": 94.408287, "volume": 3837837, "typical_volume": 1010086.55, "trend": 93.160559, "fair_value": 122.990353, "relative_strength": -16.456767, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 5.344965, "energy": 5.033408, "activity_lines": [ 94.189429, 94.79446, 92.673515, 92.461151 ] }, { "date": "2024-02-23", "close": 97.989632, "volume": 3448945, "typical_volume": 1139671.4, "trend": 92.836464, "fair_value": 122.978869, "relative_strength": -13.647301, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 13.264267, "energy": 7.774742, "activity_lines": [ 95.137821, 95.555948, 93.257852, 92.772705 ] }, { "date": "2024-03-01", "close": 103.660095, "volume": 4842213, "typical_volume": 1354574.05, "trend": 92.716229, "fair_value": 122.93236, "relative_strength": -8.873538, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 61.509425, "energy": 31.088953, "activity_lines": [ 98.036057, 97.17117, 94.376548, 93.471003 ] }, { "date": "2024-03-08", "close": 97.541969, "volume": 957945, "typical_volume": 1384228.95, "trend": 92.908271, "fair_value": 122.840198, "relative_strength": -14.408665, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 48.002749, "energy": 35.864262, "activity_lines": [ 98.380929, 97.386413, 94.861404, 93.782341 ] }, { "date": "2024-03-15", "close": 89.03627, "volume": 858513, "typical_volume": 1410770.8, "trend": 92.83823, "fair_value": 122.715875, "relative_strength": -19.814321, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 21.525597, "energy": 14.181197, "activity_lines": [ 95.781137, 95.887855, 94.517955, 93.532535 ] }, { "date": "2024-03-22", "close": 91.374092, "volume": 930073, "typical_volume": 1444109.8, "trend": 92.813131, "fair_value": 122.582645, "relative_strength": -17.677132, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 22.98242, "energy": 9.5204, "activity_lines": [ 94.063418, 94.941873, 94.402604, 93.438074 ] }, { "date": "2024-03-29", "close": 84.509842, "volume": 1100654, "typical_volume": 1473468.05, "trend": 92.471813, "fair_value": 122.393465, "relative_strength": -24.307699, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -21.997254, "energy": 20.298213, "activity_lines": [ 90.259895, 92.937765, 93.631856, 92.902378 ] }, { "date": "2024-04-05", "close": 96.795853, "volume": 1174575, "typical_volume": 1519467.6, "trend": 92.594455, "fair_value": 122.219938, "relative_strength": -13.613181, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -1.149847, "energy": 11.371052, "activity_lines": [ 91.450361, 93.428844, 94.039021, 93.181349 ] }, { "date": "2024-04-12", "close": 94.656998, "volume": 494830, "typical_volume": 1517663.35, "trend": 92.645801, "fair_value": 122.076505, "relative_strength": -15.008031, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -4.012333, "energy": 7.943134, "activity_lines": [ 92.385492, 93.515665, 94.192034, 93.314416 ] }, { "date": "2024-04-19", "close": 91.025902, "volume": 402430, "typical_volume": 1435039.65, "trend": 92.576164, "fair_value": 121.929402, "relative_strength": -16.257822, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -9.463615, "energy": 9.168701, "activity_lines": [ 92.302589, 92.964897, 93.938118, 93.209906 ] }, { "date": "2024-04-26", "close": 122.06424, "volume": 9903195, "typical_volume": 1868621.65, "trend": 93.524558, "fair_value": 121.814924, "relative_strength": 11.237902, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 74.933765, "energy": 56.032267, "activity_lines": [ 102.433157, 98.049324, 96.633129, 95.112363 ] }, { "date": "2024-05-03", "close": 124.451805, "volume": 1981834, "typical_volume": 1945011.6, "trend": 94.446423, "fair_value": 121.727697, "relative_strength": 13.55172, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 78.894576, "energy": 75.647799, "activity_lines": [ 111.313569, 103.065017, 99.406303, 97.107669 ] }, { "date": "2024-05-10", "close": 117.438339, "volume": 1006207, "typical_volume": 1970965.6, "trend": 95.263832, "fair_value": 121.58234, "relative_strength": 9.865697, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 66.689566, "energy": 75.120839, "activity_lines": [ 115.193362, 106.324405, 101.339094, 98.591019 ] }, { "date": "2024-05-17", "close": 123.158546, "volume": 1859009, "typical_volume": 2046944.35, "trend": 96.245386, "fair_value": 121.48468, "relative_strength": 13.765081, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 71.305962, "energy": 81.21018, "activity_lines": [ 119.603726, 110.373317, 103.675733, 100.390678 ] }, { "date": "2024-05-24", "close": 121.417618, "volume": 2336744, "typical_volume": 2048292.15, "trend": 97.28663, "fair_value": 121.416295, "relative_strength": 10.288499, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 62.492765, "energy": 75.7609, "activity_lines": [ 121.533676, 113.63994, 105.680767, 102.014693 ] }, { "date": "2024-05-31", "close": 110.275642, "volume": 1334753, "typical_volume": 2008048.25, "trend": 97.928288, "fair_value": 121.278632, "relative_strength": 2.525081, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 60.464246, "energy": 48.940366, "activity_lines": [ 117.72352, 114.291998, 106.503861, 102.852693 ] }, { "date": "2024-06-07", "close": 110.922279, "volume": 1311409, "typical_volume": 2000561.05, "trend": 98.753987, "fair_value": 121.120607, "relative_strength": 0.448466, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 55.1114, "energy": 37.208006, "activity_lines": [ 114.914817, 114.717962, 107.348272, 103.691015 ] }, { "date": "2024-06-14", "close": 118.035233, "volume": 759336, "typical_volume": 2014368.05, "trend": 99.815127, "fair_value": 121.060561, "relative_strength": 6.544929, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 47.782507, "energy": 30.550569, "activity_lines": [ 115.379066, 115.956964, 108.812788, 104.934967 ] }, { "date": "2024-06-21", "close": 114.414093, "volume": 1152816, "typical_volume": 2034118.15, "trend": 100.901469, "fair_value": 120.976996, "relative_strength": 3.537683, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 39.492761, "energy": 22.810786, "activity_lines": [ 114.596476, 116.151406, 109.827266, 105.876835 ] }, { "date": "2024-06-28", "close": 114.235023, "volume": 1214613, "typical_volume": 2045396.55, "trend": 101.724848, "fair_value": 120.892283, "relative_strength": 1.569547, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 38.037487, "energy": 23.318619, "activity_lines": [ 114.337159, 115.95407, 110.73653, 106.737065 ] }, { "date": "2024-07-05", "close": 120.691399, "volume": 2727479, "typical_volume": 1989878.65, "trend": 102.723646, "fair_value": 120.760734, "relative_strength": 6.175018, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 57.374903, "energy": 33.156229, "activity_lines": [ 116.708807, 116.508637, 112.148036, 107.960713 ] }, { "date": "2024-07-12", "close": 111.698235, "volume": 1012256, "typical_volume": 1868044.2, "trend": 103.505573, "fair_value": 120.583789, "relative_strength": -2.097606, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 37.593128, "energy": 21.504185, "activity_lines": [ 115.388351, 115.453044, 112.577893, 108.539719 ] }, { "date": "2024-07-19", "close": 109.390259, "volume": 1040935, "typical_volume": 1677980.3, "trend": 104.223832, "fair_value": 120.388373, "relative_strength": -3.807387, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 34.073203, "energy": 16.742873, "activity_lines": [ 113.246838, 114.209702, 112.722663, 108.919376 ] }, { "date": "2024-07-26", "close": 115.180099, "volume": 1942737, "typical_volume": 1727219.9, "trend": 105.118506, "fair_value": 120.272653, "relative_strength": 0.396172, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 36.143475, "energy": 17.894634, "activity_lines": [ 113.611604, 114.165387, 113.391559, 109.626232 ] }, { "date": "2024-08-02", "close": 143.204132, "volume": 14114350, "typical_volume": 2390011.75, "trend": 106.690319, "fair_value": 120.228438, "relative_strength": 25.259658, "stage": 2, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "up", "direction": 76.117025, "energy": 46.563417, "activity_lines": [ 123.266647, 119.361413, 116.645421, 112.083369 ] }, { "date": "2024-08-09", "close": 145.870255, "volume": 1891345, "typical_volume": 2438075.35, "trend": 108.158671, "fair_value": 120.259823, "relative_strength": 28.749726, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 78.787454, "energy": 71.891436, "activity_lines": [ 131.879124, 124.64607, 119.895256, 114.611107 ] }, { "date": "2024-08-16", "close": 148.098648, "volume": 3405927, "typical_volume": 2553339.0, "trend": 109.799127, "fair_value": 120.365534, "relative_strength": 29.089512, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 75.303296, "energy": 79.113103, "activity_lines": [ 139.555808, 129.688715, 123.097814, 117.18788 ] }, { "date": "2024-08-23", "close": 154.823624, "volume": 6416515, "typical_volume": 2815436.0, "trend": 111.761572, "fair_value": 120.541617, "relative_strength": 32.624306, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 76.762722, "energy": 83.544376, "activity_lines": [ 147.047456, 135.278149, 126.638042, 120.092686 ] }, { "date": "2024-08-30", "close": 139.284546, "volume": 1771824, "typical_volume": 2879285.7, "trend": 113.207706, "fair_value": 120.559581, "relative_strength": 17.053501, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 64.338069, "energy": 73.391254, "activity_lines": [ 146.330521, 137.373416, 128.422035, 121.868362 ] }, { "date": "2024-09-06", "close": 136.628387, "volume": 1378857, "typical_volume": 2928107.05, "trend": 114.742711, "fair_value": 120.594522, "relative_strength": 16.215322, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 60.799231, "energy": 51.461631, "activity_lines": [ 143.121236, 138.533555, 129.740549, 123.379373 ] }, { "date": "2024-09-13", "close": 165.289108, "volume": 12943609, "typical_volume": 3080127.75, "trend": 117.105405, "fair_value": 120.745917, "relative_strength": 36.737395, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 78.301651, "energy": 54.3766, "activity_lines": [ 149.903908, 144.497583, 133.5715, 126.640431 ] }, { "date": "2024-09-20", "close": 167.039993, "volume": 6144416, "typical_volume": 3288256.85, "trend": 119.407084, "fair_value": 120.873477, "relative_strength": 34.909061, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 74.144042, "energy": 53.499911, "activity_lines": [ 155.975618, 149.969085, 137.36337, 129.862018 ] }, { "date": "2024-09-27", "close": 156.13678, "volume": 2053858, "typical_volume": 3340639.4, "trend": 121.156307, "fair_value": 120.959068, "relative_strength": 23.641115, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 59.331645, "energy": 47.625059, "activity_lines": [ 157.150168, 152.451971, 139.914037, 132.231675 ] }, { "date": "2024-10-04", "close": 147.312744, "volume": 1406855, "typical_volume": 3318031.7, "trend": 122.815333, "fair_value": 120.986543, "relative_strength": 21.616054, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 57.249523, "energy": 45.36298, "activity_lines": [ 155.295828, 152.480551, 141.440042, 133.919187 ] }, { "date": "2024-10-11", "close": 146.218445, "volume": 1197193, "typical_volume": 3261054.15, "trend": 124.721405, "fair_value": 121.003591, "relative_strength": 20.404887, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 53.104094, "energy": 36.136351, "activity_lines": [ 152.541509, 151.725937, 142.746807, 135.429066 ] }, { "date": "2024-10-18", "close": 145.173874, "volume": 1258637, "typical_volume": 3257248.35, "trend": 126.514731, "fair_value": 121.072893, "relative_strength": 19.580382, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 38.438081, "energy": 22.082787, "activity_lines": [ 148.799662, 150.726595, 143.835991, 136.74858 ] }, { "date": "2024-10-25", "close": 139.493469, "volume": 839578, "typical_volume": 3233656.8, "trend": 128.347519, "fair_value": 121.133396, "relative_strength": 17.621611, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 31.967683, "energy": 18.437881, "activity_lines": [ 144.505363, 148.707114, 144.218002, 137.585918 ] }, { "date": "2024-11-01", "close": 147.123734, "volume": 1287346, "typical_volume": 3260057.3, "trend": 130.025115, "fair_value": 121.20713, "relative_strength": 22.789336, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 29.975702, "energy": 17.633013, "activity_lines": [ 144.59092, 148.231412, 145.190651, 138.797286 ] }, { "date": "2024-11-08", "close": 156.902802, "volume": 4202371, "typical_volume": 3412535.05, "trend": 132.099975, "fair_value": 121.354721, "relative_strength": 30.745795, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 42.527056, "energy": 20.314481, "activity_lines": [ 148.537036, 149.67372, 146.956123, 140.531331 ] }, { "date": "2024-11-15", "close": 143.532425, "volume": 1053640, "typical_volume": 3404486.4, "trend": 133.850193, "fair_value": 121.463764, "relative_strength": 21.916153, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 32.4841, "energy": 16.288515, "activity_lines": [ 147.387023, 148.364718, 147.245899, 141.268908 ] }, { "date": "2024-11-22", "close": 142.567459, "volume": 695471, "typical_volume": 3302886.0, "trend": 134.533633, "fair_value": 121.618997, "relative_strength": 18.36679, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 22.603406, "energy": 13.532635, "activity_lines": [ 146.094423, 146.75474, 147.304262, 141.831312 ] }, { "date": "2024-11-29", "close": 151.23233, "volume": 988023, "typical_volume": 3301674.35, "trend": 135.426317, "fair_value": 121.810643, "relative_strength": 23.523959, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 38.001762, "energy": 19.892637, "activity_lines": [ 147.863873, 147.133314, 148.083679, 142.908648 ] }, { "date": "2024-12-06", "close": 152.008286, "volume": 2277853, "typical_volume": 3363520.25, "trend": 136.578649, "fair_value": 121.943911, "relative_strength": 20.5695, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 37.984066, "energy": 17.59776, "activity_lines": [ 149.109385, 147.940383, 148.748739, 143.978452 ] }, { "date": "2024-12-13", "close": 164.095337, "volume": 3453697, "typical_volume": 3439068.25, "trend": 137.943209, "fair_value": 122.210798, "relative_strength": 28.466016, "stage": 2, "regime": "deceleration", "modifier": "Re-acceleration watch", "gate": "up", "direction": 63.84946, "energy": 40.685997, "activity_lines": [ 154.058277, 151.020162, 150.362004, 145.753722 ] }, { "date": "2024-12-20", "close": 160.344864, "volume": 4398832, "typical_volume": 2953292.35, "trend": 139.240783, "fair_value": 122.457408, "relative_strength": 30.508076, "stage": 2, "regime": "deceleration", "modifier": "Re-acceleration watch", "gate": "up", "direction": 57.250659, "energy": 48.184712, "activity_lines": [ 157.27751, 153.112898, 151.385151, 147.19899 ] }, { "date": "2024-12-27", "close": 158.922272, "volume": 1389897, "typical_volume": 2928219.95, "trend": 140.862338, "fair_value": 122.672945, "relative_strength": 26.900987, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 55.287221, "energy": 50.201906, "activity_lines": [ 158.901715, 154.690137, 152.191191, 148.468764 ] }, { "date": "2025-01-03", "close": 169.467361, "volume": 2881785, "typical_volume": 2902012.85, "trend": 142.813841, "fair_value": 122.924402, "relative_strength": 32.961158, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 68.044403, "energy": 60.143444, "activity_lines": [ 162.95063, 157.934694, 153.939372, 150.314249 ] }, { "date": "2025-01-10", "close": 156.246216, "volume": 2570951, "typical_volume": 2709734.65, "trend": 144.08754, "fair_value": 123.051592, "relative_strength": 24.676047, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 54.294887, "energy": 37.652682, "activity_lines": [ 161.376827, 158.230426, 154.326641, 151.180854 ] }, { "date": "2025-01-17", "close": 148.128494, "volume": 1120268, "typical_volume": 2677156.85, "trend": 145.211353, "fair_value": 123.156853, "relative_strength": 18.58944, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 32.734233, "energy": 18.702369, "activity_lines": [ 156.814588, 156.884346, 153.934019, 151.441561 ] }, { "date": "2025-01-24", "close": 147.73056, "volume": 797869, "typical_volume": 2648107.45, "trend": 146.327871, "fair_value": 123.286535, "relative_strength": 18.036593, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 24.785113, "energy": 10.918492, "activity_lines": [ 153.184161, 155.625447, 153.461385, 151.60409 ] }, { "date": "2025-01-31", "close": 146.307983, "volume": 791358, "typical_volume": 2040494.9, "trend": 147.181757, "fair_value": 123.394553, "relative_strength": 14.087349, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 17.019531, "energy": 15.161755, "activity_lines": [ 149.920495, 154.031568, 152.8004, 151.602807 ] }, { "date": "2025-02-07", "close": 153.948181, "volume": 2727422, "typical_volume": 1869645.2, "trend": 148.590089, "fair_value": 123.557505, "relative_strength": 18.787364, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 21.9149, "energy": 16.649723, "activity_lines": [ 150.044515, 153.758806, 152.957439, 152.039351 ] }, { "date": "2025-02-14", "close": 143.910461, "volume": 1231610, "typical_volume": 1828532.8, "trend": 149.740762, "fair_value": 123.598092, "relative_strength": 13.307128, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -15.256615, "energy": 14.451225, "activity_lines": [ 147.857239, 151.611625, 152.220847, 151.737439 ] }, { "date": "2025-02-21", "close": 140.199783, "volume": 741153, "typical_volume": 1795247.7, "trend": 150.574752, "fair_value": 123.707412, "relative_strength": 10.36503, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -20.147745, "energy": 22.339806, "activity_lines": [ 145.255455, 148.937009, 151.189077, 151.121892 ] }, { "date": "2025-02-28", "close": 129.555222, "volume": 567238, "typical_volume": 1763749.95, "trend": 150.119788, "fair_value": 123.769198, "relative_strength": 4.640747, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -66.483726, "energy": 51.597429, "activity_lines": [ 139.634065, 144.761483, 149.177411, 149.765793 ] }, { "date": "2025-03-07", "close": 131.345901, "volume": 876130, "typical_volume": 1744624.6, "trend": 149.635643, "fair_value": 123.812981, "relative_strength": 3.545358, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -62.919403, "energy": 58.987289, "activity_lines": [ 135.821256, 141.471346, 147.415634, 148.554575 ] }, { "date": "2025-03-14", "close": 115.886421, "volume": 1181572, "typical_volume": 1761724.3, "trend": 148.561902, "fair_value": 123.758606, "relative_strength": -8.362974, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -75.880205, "energy": 72.539443, "activity_lines": [ 127.85276, 135.871783, 144.247373, 146.377206 ] }, { "date": "2025-03-21", "close": 129.953156, "volume": 995187, "typical_volume": 1747116.35, "trend": 147.732886, "fair_value": 123.760844, "relative_strength": -1.912346, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -61.845391, "energy": 66.813714, "activity_lines": [ 127.110626, 133.804007, 142.531216, 145.176641 ] }, { "date": "2025-03-28", "close": 119.557304, "volume": 1064132, "typical_volume": 1590204.4, "trend": 147.075312, "fair_value": 123.61145, "relative_strength": -10.799796, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -67.820341, "energy": 67.010771, "activity_lines": [ 123.833695, 130.324132, 139.906743, 143.358862 ] }, { "date": "2025-04-04", "close": 119.388184, "volume": 356133, "typical_volume": 1555329.05, "trend": 146.500638, "fair_value": 123.417377, "relative_strength": -8.815604, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -66.345335, "energy": 66.696947, "activity_lines": [ 121.876556, 127.332984, 137.443998, 141.572596 ] }, { "date": "2025-04-11", "close": 110.852638, "volume": 699124, "typical_volume": 1555511.7, "trend": 144.686089, "fair_value": 123.054116, "relative_strength": -15.239325, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -72.881649, "energy": 64.883974, "activity_lines": [ 117.752038, 123.305235, 134.283317, 139.272725 ] }, { "date": "2025-04-18", "close": 134.718338, "volume": 1269689, "typical_volume": 1569595.0, "trend": 143.608701, "fair_value": 122.782997, "relative_strength": -1.91593, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -57.769849, "energy": 40.892555, "activity_lines": [ 122.948971, 124.261347, 133.546583, 138.629644 ] }, { "date": "2025-04-25", "close": 125.267563, "volume": 782048, "typical_volume": 1494804.75, "trend": 142.579727, "fair_value": 122.575806, "relative_strength": -9.438228, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -54.100967, "energy": 35.341785, "activity_lines": [ 123.740184, 123.848769, 131.988413, 137.446345 ] }, { "date": "2025-05-02", "close": 120.870461, "volume": 321519, "typical_volume": 1338195.85, "trend": 141.698317, "fair_value": 122.432007, "relative_strength": -13.554782, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -48.883192, "energy": 32.199739, "activity_lines": [ 123.378069, 122.97568, 130.138808, 136.045747 ] }, { "date": "2025-05-09", "close": 113.916687, "volume": 418401, "typical_volume": 1139174.3, "trend": 140.621592, "fair_value": 122.326742, "relative_strength": -17.217937, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -65.286976, "energy": 37.06664, "activity_lines": [ 120.610485, 121.18971, 127.832772, 134.253384 ] }, { "date": "2025-05-16", "close": 119.278755, "volume": 1101193, "typical_volume": 1124739.1, "trend": 139.758422, "fair_value": 122.185285, "relative_strength": -16.626772, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -57.428697, "energy": 38.737336, "activity_lines": [ 119.995025, 120.662999, 126.258495, 132.876426 ] }, { "date": "2025-05-23", "close": 120.074608, "volume": 1900111, "typical_volume": 1075655.4, "trend": 139.111126, "fair_value": 122.123572, "relative_strength": -15.377496, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -54.584919, "energy": 41.742749, "activity_lines": [ 119.083107, 120.500392, 124.948793, 131.606503 ] }, { "date": "2025-05-30", "close": 140.120209, "volume": 7592768, "typical_volume": 1326746.25, "trend": 138.877675, "fair_value": 122.150526, "relative_strength": -1.097064, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -22.705004, "energy": 15.153551, "activity_lines": [ 125.829305, 123.90629, 125.783399, 131.671605 ] }, { "date": "2025-06-06", "close": 134.50943, "volume": 1088040, "typical_volume": 1325134.85, "trend": 138.13123, "fair_value": 122.163467, "relative_strength": -6.210082, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -22.095677, "energy": 15.585802, "activity_lines": [ 129.715067, 126.107191, 126.160436, 131.389783 ] }, { "date": "2025-06-13", "close": 129.06778, "volume": 920289, "typical_volume": 1331255.85, "trend": 137.649075, "fair_value": 122.237809, "relative_strength": -9.027133, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -13.739654, "energy": 15.240586, "activity_lines": [ 130.877681, 127.046844, 126.084073, 130.805044 ] }, { "date": "2025-06-20", "close": 126.839378, "volume": 665663, "typical_volume": 1324971.1, "trend": 137.124805, "fair_value": 122.28344, "relative_strength": -12.053525, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -11.216128, "energy": 15.767835, "activity_lines": [ 130.287422, 127.40534, 125.884351, 130.107644 ] }, { "date": "2025-06-27", "close": 128.998123, "volume": 616619, "typical_volume": 1219430.95, "trend": 136.383665, "fair_value": 122.351063, "relative_strength": -12.469966, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -12.211086, "energy": 10.266972, "activity_lines": [ 129.912702, 127.865668, 125.982932, 129.583342 ] }, { "date": "2025-07-04", "close": 124.59108, "volume": 379508, "typical_volume": 1176825.85, "trend": 135.469758, "fair_value": 122.344333, "relative_strength": -14.85377, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -28.501567, "energy": 14.090355, "activity_lines": [ 127.474068, 127.628719, 125.780604, 128.82253 ] }, { "date": "2025-07-11", "close": 125.546104, "volume": 1103770, "typical_volume": 1194956.7, "trend": 134.184784, "fair_value": 122.351565, "relative_strength": -13.265341, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -30.679524, "energy": 16.482787, "activity_lines": [ 126.38905, 127.57771, 125.761229, 128.182294 ] }, { "date": "2025-07-18", "close": 122.631287, "volume": 780771, "typical_volume": 1205633.35, "trend": 132.927665, "fair_value": 122.297773, "relative_strength": -14.792126, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -39.624103, "energy": 21.690413, "activity_lines": [ 124.929981, 126.911724, 125.53403, 127.436908 ] }, { "date": "2025-07-25", "close": 119.23896, "volume": 799576, "typical_volume": 1201805.65, "trend": 131.604888, "fair_value": 122.229449, "relative_strength": -16.756168, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -47.257844, "energy": 31.383835, "activity_lines": [ 122.769236, 125.470503, 125.016725, 126.553765 ] }, { "date": "2025-08-01", "close": 112.165802, "volume": 952612, "typical_volume": 1190357.65, "trend": 129.694836, "fair_value": 122.109511, "relative_strength": -20.502789, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -67.529232, "energy": 53.588309, "activity_lines": [ 118.757467, 122.743976, 123.883437, 125.299631 ] }, { "date": "2025-08-08", "close": 104.973259, "volume": 418206, "typical_volume": 1161508.6, "trend": 127.985737, "fair_value": 121.899246, "relative_strength": -24.559734, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -78.168932, "energy": 71.088973, "activity_lines": [ 113.470337, 118.853512, 122.082862, 123.70469 ] }, { "date": "2025-08-15", "close": 104.923523, "volume": 450433, "typical_volume": 1130823.65, "trend": 126.545571, "fair_value": 121.676118, "relative_strength": -24.967487, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -74.478987, "energy": 75.719873, "activity_lines": [ 109.474484, 115.593039, 120.396503, 122.216806 ] }, { "date": "2025-08-22", "close": 109.430046, "volume": 440657, "typical_volume": 1135049.85, "trend": 125.268888, "fair_value": 121.348273, "relative_strength": -22.010901, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -63.672605, "energy": 72.266858, "activity_lines": [ 108.355644, 113.689861, 119.209021, 121.112578 ] }, { "date": "2025-08-29", "close": 108.276054, "volume": 1232215, "typical_volume": 1161704.4, "trend": 124.001157, "fair_value": 120.996721, "relative_strength": -21.140982, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -63.451919, "energy": 74.098024, "activity_lines": [ 107.732223, 111.933915, 117.959054, 120.016266 ] }, { "date": "2025-09-05", "close": 116.373886, "volume": 1292560, "typical_volume": 1162847.95, "trend": 122.74868, "fair_value": 120.681398, "relative_strength": -16.091495, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -57.525888, "energy": 45.224216, "activity_lines": [ 110.538939, 111.987817, 117.492579, 119.524184 ] }, { "date": "2025-09-12", "close": 115.985901, "volume": 798656, "typical_volume": 1163678.35, "trend": 121.817861, "fair_value": 120.353865, "relative_strength": -17.072728, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -41.851179, "energy": 27.252517, "activity_lines": [ 112.935788, 112.200708, 117.076508, 119.087876 ] }, { "date": "2025-09-19", "close": 116.040001, "volume": 370837, "typical_volume": 1166144.25, "trend": 121.012535, "fair_value": 120.045681, "relative_strength": -17.190077, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -36.204992, "energy": 19.494459, "activity_lines": [ 114.616495, 112.579893, 116.709788, 118.715111 ] }, { "date": "2025-09-26", "close": 109.940002, "volume": 254878, "typical_volume": 1157968.1, "trend": 120.358695, "fair_value": 119.712666, "relative_strength": -18.979832, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -41.532797, "energy": 22.434431, "activity_lines": [ 113.52277, 112.022826, 115.785117, 118.000754 ] }, { "date": "2025-10-03", "close": 111.540001, "volume": 194898, "typical_volume": 1112653.35, "trend": 119.698498, "fair_value": 119.278901, "relative_strength": -18.189065, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -39.33534, "energy": 21.539434, "activity_lines": [ 112.92838, 111.987418, 115.031764, 117.431806 ] }, { "date": "2025-10-10", "close": 115.629997, "volume": 5169080, "typical_volume": 1276101.8, "trend": 119.689951, "fair_value": 118.936371, "relative_strength": -16.122792, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -36.009109, "energy": 19.208247, "activity_lines": [ 113.479727, 112.835627, 114.704785, 117.169322 ] }, { "date": "2025-10-17", "close": 113.889999, "volume": 579423, "typical_volume": 925434.55, "trend": 119.154512, "fair_value": 118.53892, "relative_strength": -18.342571, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -35.416248, "energy": 19.442226, "activity_lines": [ 113.500666, 113.304488, 114.233257, 116.795131 ] }, { "date": "2025-10-24", "close": 113.349998, "volume": 226424, "typical_volume": 882353.75, "trend": 118.947602, "fair_value": 118.148156, "relative_strength": -18.601872, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -44.263556, "energy": 19.958298, "activity_lines": [ 113.481332, 113.513043, 113.835207, 116.420647 ] }, { "date": "2025-10-31", "close": 111.349998, "volume": 425006, "typical_volume": 857589.6, "trend": 118.679662, "fair_value": 117.810542, "relative_strength": -19.315369, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -49.670976, "energy": 21.980657, "activity_lines": [ 112.974665, 113.204754, 113.347439, 115.930479 ] }, { "date": "2025-11-07", "close": 106.459999, "volume": 214706, "typical_volume": 835041.75, "trend": 118.533241, "fair_value": 117.47869, "relative_strength": -21.510234, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -60.822573, "energy": 34.303017, "activity_lines": [ 110.743998, 111.972466, 112.478327, 115.142113 ] }, { "date": "2025-11-14", "close": 105.75, "volume": 881595, "typical_volume": 848290.55, "trend": 117.56763, "fair_value": 117.281521, "relative_strength": -22.727183, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -60.375168, "energy": 47.917333, "activity_lines": [ 108.615332, 110.644106, 111.638642, 114.317388 ] }, { "date": "2025-11-21", "close": 111.120003, "volume": 3206038, "typical_volume": 989617.05, "trend": 117.096044, "fair_value": 117.091499, "relative_strength": -18.792864, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -51.137085, "energy": 40.079061, "activity_lines": [ 108.935334, 110.485272, 111.42109, 113.901412 ] }, { "date": "2025-11-28", "close": 109.18, "volume": 460372, "typical_volume": 957447.15, "trend": 116.706362, "fair_value": 116.911243, "relative_strength": -20.005536, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -51.270146, "energy": 39.122135, "activity_lines": [ 108.793334, 110.062182, 111.082924, 113.3907 ] }, { "date": "2025-12-05", "close": 105.459999, "volume": 283232, "typical_volume": 932570.2, "trend": 116.424473, "fair_value": 116.709678, "relative_strength": -22.068882, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -58.27907, "energy": 38.105352, "activity_lines": [ 107.689334, 109.087454, 110.468406, 112.665128 ] }, { "date": "2025-12-12", "close": 107.209999, "volume": 436674, "typical_volume": 914425.1, "trend": 116.022181, "fair_value": 116.530431, "relative_strength": -19.600666, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -51.361761, "energy": 28.785939, "activity_lines": [ 107.561333, 108.512363, 110.102323, 112.070646 ] }, { "date": "2025-12-19", "close": 106.279999, "volume": 263397, "typical_volume": 879964.35, "trend": 115.562361, "fair_value": 116.45401, "relative_strength": -19.230184, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -53.283481, "energy": 30.5897, "activity_lines": [ 107.073333, 107.846909, 109.70495, 111.442118 ] }, { "date": "2025-12-26", "close": 107.080002, "volume": 185845, "typical_volume": 868346.3, "trend": 114.46102, "fair_value": 116.312941, "relative_strength": -18.062771, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -49.880066, "energy": 29.599385, "activity_lines": [ 106.816667, 107.496909, 109.411794, 110.894869 ] }, { "date": "2026-01-02", "close": 102.370003, "volume": 601953, "typical_volume": 875922.3, "trend": 113.389706, "fair_value": 116.147706, "relative_strength": -21.565196, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -60.450348, "energy": 34.523447, "activity_lines": [ 105.259334, 106.414364, 108.660035, 110.114803 ] }, { "date": "2026-01-09", "close": 93.970001, "volume": 333312, "typical_volume": 870555.05, "trend": 112.21978, "fair_value": 115.932114, "relative_strength": -25.320485, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -80.011731, "energy": 67.328291, "activity_lines": [ 101.356001, 104.004183, 107.120436, 108.861919 ] }, { "date": "2026-01-16", "close": 95.129997, "volume": 413082, "typical_volume": 829598.4, "trend": 111.162801, "fair_value": 115.738547, "relative_strength": -23.627246, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -73.73986, "energy": 73.383993, "activity_lines": [ 98.605333, 102.120909, 105.764932, 107.759352 ] }, { "date": "2026-01-23", "close": 95.260002, "volume": 361846, "typical_volume": 783062.7, "trend": 110.038197, "fair_value": 115.574358, "relative_strength": -20.73568, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -68.985101, "energy": 75.572431, "activity_lines": [ 96.703334, 100.467273, 104.484409, 106.733365 ] }, { "date": "2026-01-30", "close": 95.260002, "volume": 181545, "typical_volume": 752207.15, "trend": 109.060494, "fair_value": 115.41683, "relative_strength": -20.805813, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -65.477102, "energy": 74.88242, "activity_lines": [ 95.536001, 99.004364, 103.304429, 105.779933 ] }, { "date": "2026-02-06", "close": 96.849998, "volume": 364087, "typical_volume": 751869.65, "trend": 108.103957, "fair_value": 115.263784, "relative_strength": -19.754831, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -62.698512, "energy": 61.45103, "activity_lines": [ 95.686667, 98.118909, 102.374572, 104.992159 ] }, { "date": "2026-02-13", "close": 95.230003, "volume": 309288, "typical_volume": 754590.15, "trend": 107.190581, "fair_value": 115.250373, "relative_strength": -19.571993, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -63.259779, "energy": 48.429093, "activity_lines": [ 95.665334, 97.163092, 101.38181, 104.161582 ] }, { "date": "2026-02-20", "close": 100.830002, "volume": 955384, "typical_volume": 792614.45, "trend": 106.576949, "fair_value": 115.29506, "relative_strength": -14.394308, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -47.393346, "energy": 34.601006, "activity_lines": [ 97.426668, 97.411456, 100.992429, 103.751222 ] }, { "date": "2026-02-27", "close": 105.620003, "volume": 1773672, "typical_volume": 622844.05, "trend": 106.358756, "fair_value": 115.352692, "relative_strength": -8.293417, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -29.794579, "energy": 16.870175, "activity_lines": [ 100.404669, 98.646729, 101.110239, 103.689483 ] }, { "date": "2026-03-06", "close": 97.669998, "volume": 530094, "typical_volume": 620377.6, "trend": 106.115314, "fair_value": 115.345089, "relative_strength": -11.9936, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -37.598168, "energy": 19.67689, "activity_lines": [ 100.042001, 98.448546, 100.518572, 103.128918 ] }, { "date": "2026-03-13", "close": 93.349998, "volume": 396646, "typical_volume": 628888.7, "trend": 105.72953, "fair_value": 115.359906, "relative_strength": -10.733419, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -49.885353, "energy": 23.742616, "activity_lines": [ 98.078667, 97.636, 99.592715, 102.30535 ] }, { "date": "2026-03-20", "close": 91.519997, "volume": 508248, "typical_volume": 633050.8, "trend": 105.132528, "fair_value": 115.391854, "relative_strength": -11.741366, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -64.70737, "energy": 36.700707, "activity_lines": [ 95.738665, 96.654727, 98.58781, 101.388606 ] }, { "date": "2026-03-27", "close": 77.599998, "volume": 1358575, "typical_volume": 690244.25, "trend": 104.109993, "fair_value": 115.33806, "relative_strength": -23.64745, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -83.94454, "energy": 75.797011, "activity_lines": [ 89.005998, 93.18709, 96.351619, 99.612313 ] }, { "date": "2026-04-03", "close": 79.269997, "volume": 2154804, "typical_volume": 753904.7, "trend": 102.873197, "fair_value": 115.222024, "relative_strength": -21.05144, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -76.241836, "energy": 80.065334, "activity_lines": [ 84.378664, 90.341817, 94.411904, 98.009733 ] }, { "date": "2026-04-10", "close": 90.080002, "volume": 926484, "typical_volume": 639927.0, "trend": 102.009667, "fair_value": 115.132783, "relative_strength": -14.863213, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -63.069689, "energy": 70.302394, "activity_lines": [ 85.111332, 89.752726, 93.627809, 97.184365 ] }, { "date": "2026-04-17", "close": 92.93, "volume": 302798, "typical_volume": 632048.3, "trend": 101.239333, "fair_value": 115.043415, "relative_strength": -12.561854, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -59.009936, "energy": 53.613712, "activity_lines": [ 87.299999, 89.775999, 93.215333, 96.598581 ] }, { "date": "2026-04-24", "close": 89.550003, "volume": 268444, "typical_volume": 631308.9, "trend": 100.559667, "fair_value": 114.905105, "relative_strength": -13.578337, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -52.816791, "energy": 34.103616, "activity_lines": [ 88.390001, 89.256, 92.558333, 95.84443 ] }, { "date": "2026-05-01", "close": 90.18, "volume": 244843, "typical_volume": 621717.35, "trend": 99.847667, "fair_value": 114.732773, "relative_strength": -12.865233, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -37.150908, "energy": 19.470715, "activity_lines": [ 89.821334, 88.953818, 92.037095, 95.174774 ] }, { "date": "2026-05-08", "close": 102.599998, "volume": 1642721, "typical_volume": 690683.55, "trend": 99.413333, "fair_value": 114.583919, "relative_strength": -1.376628, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -11.215664, "energy": 13.207997, "activity_lines": [ 94.554, 91.103454, 92.779809, 95.352344 ] }, { "date": "2026-05-15", "close": 97.779999, "volume": 1146694, "typical_volume": 738726.0, "trend": 98.876333, "fair_value": 114.401631, "relative_strength": -3.620238, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -17.380463, "energy": 15.636846, "activity_lines": [ 96.124666, 92.431636, 93.081, 95.246968 ] }, { "date": "2026-05-22", "close": 95.5, "volume": 336109, "typical_volume": 725433.8, "trend": 98.281333, "fair_value": 114.243738, "relative_strength": -5.828615, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -9.970812, "energy": 14.624995, "activity_lines": [ 96.422, 93.343272, 93.209333, 95.02914 ] }, { "date": "2026-05-29", "close": 92.150002, "volume": 310635, "typical_volume": 724299.95, "trend": 97.641333, "fair_value": 114.119557, "relative_strength": -7.74469, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -13.809042, "energy": 14.956656, "activity_lines": [ 95.431334, 93.606727, 93.051333, 94.63357 ] }, { "date": "2026-06-05", "close": 91.879997, "volume": 48517, "typical_volume": 706071.7, "trend": 97.155333, "fair_value": 113.940362, "relative_strength": -6.689892, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -19.248665, "energy": 9.147464, "activity_lines": [ 94.177333, 93.809636, 92.876285, 94.261871 ] }, { "date": "2026-06-12", "close": 88.510002, "volume": 35366, "typical_volume": 689747.7, "trend": 96.580667, "fair_value": 113.773818, "relative_strength": -10.484791, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -40.204682, "energy": 20.929703, "activity_lines": [ 91.686667, 93.140182, 92.395762, 93.704107 ] }, { "date": "2026-06-19", "close": 92.730003, "volume": 102029, "typical_volume": 685771.9, "trend": 95.967667, "fair_value": 113.66731, "relative_strength": -7.233928, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -33.791463, "energy": 19.812374, "activity_lines": [ 91.542001, 93.070001, 92.349286, 93.455678 ] }, { "date": "2026-06-26", "close": 89.839996, "volume": 0, "typical_volume": 667567.55, "trend": 95.323, "fair_value": 113.543228, "relative_strength": -9.744574, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -40.904685, "energy": 26.233204, "activity_lines": [ 90.770666, 92.426182, 92.039619, 93.060344 ] }, { "date": "2026-07-03", "close": 92.870003, "volume": 116303, "typical_volume": 657918.3, "trend": 94.903333, "fair_value": 113.453476, "relative_strength": -7.0656, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -37.000028, "energy": 24.128216, "activity_lines": [ 91.386667, 92.389455, 92.051905, 92.902086 ] }, { "date": "2026-07-10", "close": 90.550003, "volume": 350801, "typical_volume": 627689.15, "trend": 94.348, "fair_value": 113.352023, "relative_strength": -8.613747, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -38.548972, "energy": 19.383882, "activity_lines": [ 91.181335, 91.870546, 91.854477, 92.621226 ] }, { "date": "2026-07-17", "close": 88.730003, "volume": 195907, "typical_volume": 548800.9, "trend": 93.763, "fair_value": 113.220826, "relative_strength": -10.386727, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -54.315034, "energy": 31.310503, "activity_lines": [ 90.458002, 91.014001, 91.532667, 92.258775 ] }, { "date": "2026-07-24", "close": 88.529999, "volume": 373249, "typical_volume": 540958.65, "trend": 93.144667, "fair_value": 113.097861, "relative_strength": -7.988342, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -52.957435, "energy": 31.099067, "activity_lines": [ 89.653335, 90.373274, 91.272239, 91.921162 ] }, { "date": "2026-07-31", "close": 87.900002, "volume": 254859, "typical_volume": 533869.3, "trend": 92.662334, "fair_value": 112.973713, "relative_strength": -10.543176, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -56.034141, "energy": 40.555304, "activity_lines": [ 88.918668, 89.786183, 90.995334, 91.582796 ] }, { "date": "2026-08-07", "close": 87.349998, "volume": 320664, "typical_volume": 524490.1, "trend": 92.441667, "fair_value": 112.945311, "relative_strength": -11.461256, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -58.335726, "energy": 49.211646, "activity_lines": [ 88.13, 89.237273, 90.692001, 91.240065 ] } ], "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." } } }