{ "ticker": { "uuid": "34fdd524-25ab-4cc1-9923-8e4a5cc19de3", "symbol": "EMAE4", "name": "Empresa Metropolitana de \u00c1guas e Energia S.A.", "exchange": "SAO", "country": "BR", "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": "^BVSP", "stage": 4, "stage_name": "Declining", "phase": "4a", "phase_label": "Stage 4A \u00b7 Breakdown", "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": -69.861, "architecture_energy": 73.941, "architecture_maturity": 30.299, "architecture_confidence": 93.873, "architecture_tenure": "Developing", "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": 4.15, "rotation_up": 22.1, "upward_expansion": 17.14, "deceleration": 38.33, "rotation_down": 65.27, "downward_expansion": 95.14 }, "activity_lines": [ 36.340666, 36.788909, 37.873333, 39.296022 ], "activity_state": "Wide", "activity_direction": "Expanding", "rotation_direction": "Improving", "price_acceptance": -1.0 }, "latest_close": 36.029999, "trend_reference": 41.403334, "distance_from_trend": -0.12978, "trend_direction": "Weakening", "fair_value": 44.298988, "distance_from_fair_value": -0.186663, "fair_value_direction": "Weakening", "relative_strength": -10.405594, "relative_strength_direction": "Weakening", "price_momentum": -0.244971, "excess_performance": -0.187922, "evidence": [ { "label": "Price vs Trend", "positive": false, "value": -0.12978, "read": "Below" }, { "label": "Trend direction", "positive": false, "value": -0.020503, "read": "Falling" }, { "label": "Price vs current Fair Value", "positive": false, "value": -0.186663, "read": "Below anchor" }, { "label": "Fair Value direction", "positive": false, "value": -0.076434, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.104056, "read": "Lagging" }, { "label": "Relative strength direction", "positive": false, "value": -0.053769, "read": "Weakening" }, { "label": "Price momentum", "positive": false, "value": -0.244971, "read": "Negative" }, { "label": "Volume balance", "positive": false, "value": 0.649183, "read": "Supply-led" } ], "volume": { "latest": 17600, "relative_activity": 0.564555, "balance": 0.649183, "dry_up": 0.604651, "accumulation_observations": 0, "distribution_observations": 1 }, "risk": { "range_context": 0.04904, "annualized_volatility": 0.361077, "from_high_reference": -0.280264, "from_low_reference": 0.318331 }, "levels": { "trend_reference": 41.403334, "fair_value_reference": 44.298988, "structural_low": 35.099998, "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": -0.006529, "positive_rate": 0.5, "directional_follow_through": 0.5, "median_excess_return": -0.028728, "regime_survival": 0.857143, "best_return": 0.248494, "worst_return": -0.202193, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 9, "median_return": -0.057437, "positive_rate": 0.333333, "directional_follow_through": 0.666667, "median_excess_return": 0.011976, "regime_survival": 0.555556, "best_return": 0.191275, "worst_return": -0.362542, "sufficient": true }, { "horizon": "Extended", "sample_count": 6, "median_return": -0.149993, "positive_rate": 0.333333, "directional_follow_through": 0.666667, "median_excess_return": -0.154145, "regime_survival": 0.5, "best_return": 0.331136, "worst_return": -0.524541, "sufficient": true }, { "horizon": "Full cycle", "sample_count": 3, "median_return": -0.285143, "positive_rate": 0.0, "directional_follow_through": 1.0, "median_excess_return": -0.33833, "regime_survival": 0.333333, "best_return": -0.072518, "worst_return": -0.3671, "sufficient": false } ], "ledger": [ { "regime": "balance", "label": "Balance", "color": "blue", "start": "2024-05-03", "end": "2024-05-10", "tenure": "New", "return": -0.085699, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2024-05-17", "end": "2024-06-07", "tenure": "New", "return": -0.027312, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2024-06-14", "end": "2025-01-17", "tenure": "Extended", "return": -0.174327, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-01-24", "end": "2025-04-11", "tenure": "Developing", "return": -0.2551, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-04-18", "end": "2025-09-26", "tenure": "Established", "return": 0.003681, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2025-10-03", "end": "2025-10-24", "tenure": "New", "return": 0.104486, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-10-31", "end": "2025-12-05", "tenure": "Developing", "return": -0.073617, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2025-12-12", "end": "2025-12-26", "tenure": "New", "return": 0.202051, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-01-02", "end": "2026-03-13", "tenure": "Developing", "return": 0.022989, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2026-03-20", "end": "2026-04-17", "tenure": "Developing", "return": -0.106664, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2026-04-24", "end": "2026-05-01", "tenure": "New", "return": 0.201642, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-05-08", "end": "2026-05-29", "tenure": "New", "return": -0.08139, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2026-06-05", "end": "2026-06-12", "tenure": "New", "return": -0.010345, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2026-06-19", "end": "2026-08-07", "tenure": "Developing", "return": -0.051593, "active": true } ], "chart_path": [ { "date": "2023-08-18", "close": 54.28783, "volume": 10600, "typical_volume": 16155.0, "trend": 53.076175, "fair_value": 49.738318, "relative_strength": 6.578576, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 13.428231, "energy": 22.186794, "activity_lines": [ 57.871543, 60.040821, 59.774471, 56.643202 ] }, { "date": "2023-08-25", "close": 56.245346, "volume": 4000, "typical_volume": 16080.0, "trend": 53.033719, "fair_value": 49.949489, "relative_strength": 9.187684, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 4.599483, "energy": 23.577902, "activity_lines": [ 56.76355, 59.129789, 59.665934, 56.847664 ] }, { "date": "2023-09-01", "close": 58.269379, "volume": 40900, "typical_volume": 17300.0, "trend": 53.360934, "fair_value": 50.171835, "relative_strength": 10.240542, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 5.257639, "energy": 23.147103, "activity_lines": [ 56.840836, 58.729302, 59.65571, 57.185449 ] }, { "date": "2023-09-08", "close": 61.367203, "volume": 5200, "typical_volume": 15990.0, "trend": 53.934142, "fair_value": 50.401891, "relative_strength": 17.532588, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 21.955513, "energy": 19.738469, "activity_lines": [ 58.259246, 58.97274, 59.8656, 57.701982 ] }, { "date": "2023-09-15", "close": 63.885365, "volume": 9200, "typical_volume": 14670.0, "trend": 54.575463, "fair_value": 50.64144, "relative_strength": 17.617142, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 53.855158, "energy": 32.535372, "activity_lines": [ 60.432153, 59.664004, 60.298473, 58.343997 ] }, { "date": "2023-09-22", "close": 63.258194, "volume": 5400, "typical_volume": 14530.0, "trend": 55.168489, "fair_value": 50.875968, "relative_strength": 17.956304, "stage": 2, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "up", "direction": 50.762941, "energy": 43.91922, "activity_lines": [ 61.914543, 60.216704, 60.618809, 58.904173 ] }, { "date": "2023-09-29", "close": 64.14193, "volume": 21000, "typical_volume": 14560.0, "trend": 55.812885, "fair_value": 51.086617, "relative_strength": 18.00202, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 54.230578, "energy": 54.817764, "activity_lines": [ 63.093487, 60.953926, 60.959799, 59.483105 ] }, { "date": "2023-10-06", "close": 60.626003, "volume": 26000, "typical_volume": 15565.0, "trend": 56.418601, "fair_value": 51.280276, "relative_strength": 13.088805, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 55.096842, "energy": 46.762818, "activity_lines": [ 62.574017, 61.047569, 60.943291, 59.793628 ] }, { "date": "2023-10-13", "close": 57.300125, "volume": 21700, "typical_volume": 15865.0, "trend": 56.995016, "fair_value": 51.452666, "relative_strength": 4.836223, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 21.129017, "energy": 15.674959, "activity_lines": [ 60.788812, 60.577799, 60.596273, 59.850501 ] }, { "date": "2023-10-20", "close": 58.402416, "volume": 22000, "typical_volume": 16625.0, "trend": 57.60574, "fair_value": 51.634522, "relative_strength": 8.606242, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 9.66704, "energy": 7.701412, "activity_lines": [ 59.642176, 60.359241, 60.361969, 59.941301 ] }, { "date": "2023-10-27", "close": 57.309628, "volume": 11100, "typical_volume": 15845.0, "trend": 58.28351, "fair_value": 51.809222, "relative_strength": 5.865901, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 0.147381, "energy": 15.001172, "activity_lines": [ 58.496808, 59.910378, 60.02558, 59.922197 ] }, { "date": "2023-11-03", "close": 57.442665, "volume": 5300, "typical_volume": 15195.0, "trend": 58.984584, "fair_value": 51.983076, "relative_strength": 1.231024, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -27.257775, "energy": 28.104722, "activity_lines": [ 57.792356, 59.430761, 59.718378, 59.867949 ] }, { "date": "2023-11-10", "close": 56.207336, "volume": 15100, "typical_volume": 15405.0, "trend": 59.440272, "fair_value": 52.140962, "relative_strength": -3.562789, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -35.281526, "energy": 46.975862, "activity_lines": [ 57.122745, 58.704769, 59.325155, 59.688772 ] }, { "date": "2023-11-17", "close": 57.965302, "volume": 94300, "typical_volume": 19855.0, "trend": 59.444763, "fair_value": 52.316566, "relative_strength": -4.564906, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -28.507187, "energy": 42.645341, "activity_lines": [ 57.333701, 58.335899, 59.130308, 59.593612 ] }, { "date": "2023-11-24", "close": 56.501911, "volume": 16700, "typical_volume": 20000.0, "trend": 59.568291, "fair_value": 52.472591, "relative_strength": -7.716904, "stage": 3, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -58.753843, "energy": 46.887729, "activity_lines": [ 57.012515, 57.762811, 58.809666, 59.403751 ] }, { "date": "2023-12-01", "close": 55.941261, "volume": 23000, "typical_volume": 19975.0, "trend": 59.76898, "fair_value": 52.630321, "relative_strength": -10.689969, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -60.572195, "energy": 44.072525, "activity_lines": [ 56.631146, 57.222031, 58.464363, 59.169749 ] }, { "date": "2023-12-08", "close": 55.456642, "volume": 26300, "typical_volume": 20880.0, "trend": 59.637997, "fair_value": 52.735852, "relative_strength": -10.724067, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -61.783726, "energy": 42.413496, "activity_lines": [ 56.179462, 56.726173, 58.113992, 58.891533 ] }, { "date": "2023-12-15", "close": 55.302067, "volume": 17700, "typical_volume": 20420.0, "trend": 59.556856, "fair_value": 52.816488, "relative_strength": -12.898349, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -62.33341, "energy": 51.581851, "activity_lines": [ 55.808654, 56.360126, 57.789127, 58.611796 ] }, { "date": "2023-12-22", "close": 56.857128, "volume": 26200, "typical_volume": 20695.0, "trend": 59.487954, "fair_value": 52.905511, "relative_strength": -11.839379, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -54.844305, "energy": 39.238549, "activity_lines": [ 56.016551, 56.373615, 57.64853, 58.43762 ] }, { "date": "2023-12-29", "close": 57.34309, "volume": 14100, "typical_volume": 20790.0, "trend": 59.438707, "fair_value": 52.888439, "relative_strength": -11.555743, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -52.012586, "energy": 29.817203, "activity_lines": [ 56.460314, 56.483516, 57.569628, 58.299242 ] }, { "date": "2024-01-05", "close": 56.759937, "volume": 11400, "typical_volume": 20830.0, "trend": 59.30477, "fair_value": 52.877317, "relative_strength": -10.641157, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -39.322725, "energy": 21.775739, "activity_lines": [ 56.653614, 56.506649, 57.431952, 58.126418 ] }, { "date": "2024-01-12", "close": 56.079597, "volume": 7700, "typical_volume": 21015.0, "trend": 59.037926, "fair_value": 52.862834, "relative_strength": -10.618245, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -41.290838, "energy": 20.643234, "activity_lines": [ 56.565555, 56.416079, 57.217709, 57.918342 ] }, { "date": "2024-01-19", "close": 55.331219, "volume": 8300, "typical_volume": 19385.0, "trend": 58.792065, "fair_value": 52.867503, "relative_strength": -9.148709, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -57.06044, "energy": 29.398275, "activity_lines": [ 56.186507, 56.214223, 56.932981, 57.6792 ] }, { "date": "2024-01-26", "close": 56.264259, "volume": 8100, "typical_volume": 19530.0, "trend": 58.640339, "fair_value": 52.889322, "relative_strength": -8.29293, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -48.074753, "energy": 27.990541, "activity_lines": [ 56.116528, 56.19794, 56.751106, 57.516115 ] }, { "date": "2024-02-02", "close": 54.913296, "volume": 9800, "typical_volume": 19560.0, "trend": 58.386249, "fair_value": 52.907926, "relative_strength": -9.184217, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -58.147973, "energy": 38.936406, "activity_lines": [ 55.635754, 55.966955, 56.464867, 57.275661 ] }, { "date": "2024-02-09", "close": 57.275055, "volume": 9900, "typical_volume": 19785.0, "trend": 58.143099, "fair_value": 52.944616, "relative_strength": -6.050782, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -45.52425, "energy": 25.871683, "activity_lines": [ 56.104218, 56.194266, 56.446282, 57.203971 ] }, { "date": "2024-02-16", "close": 58.800964, "volume": 8400, "typical_volume": 19155.0, "trend": 57.972986, "fair_value": 53.002033, "relative_strength": -4.259188, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -5.524631, "energy": 5.742473, "activity_lines": [ 57.046978, 56.674763, 56.601512, 57.246414 ] }, { "date": "2024-02-23", "close": 61.745869, "volume": 20400, "typical_volume": 18875.0, "trend": 57.934611, "fair_value": 53.103333, "relative_strength": -0.194259, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 34.800931, "energy": 34.969281, "activity_lines": [ 58.789948, 57.629892, 57.062643, 57.489826 ] }, { "date": "2024-03-01", "close": 66.440224, "volume": 14700, "typical_volume": 18525.0, "trend": 58.146157, "fair_value": 53.241338, "relative_strength": 7.234735, "stage": 3, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 53.172804, "energy": 71.372487, "activity_lines": [ 61.67006, 59.321379, 57.965523, 58.038575 ] }, { "date": "2024-03-08", "close": 77.743614, "volume": 66300, "typical_volume": 20740.0, "trend": 58.848828, "fair_value": 53.450745, "relative_strength": 26.535698, "stage": 3, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "up", "direction": 96.07465, "energy": 97.87704, "activity_lines": [ 67.63957, 62.893791, 59.901391, 59.302927 ] }, { "date": "2024-03-15", "close": 74.157249, "volume": 83700, "typical_volume": 24370.0, "trend": 59.511142, "fair_value": 53.593264, "relative_strength": 20.090929, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 86.139244, "energy": 94.542486, "activity_lines": [ 70.891605, 65.443217, 61.403601, 60.290567 ] }, { "date": "2024-03-22", "close": 67.83979, "volume": 67400, "typical_volume": 27475.0, "trend": 59.897624, "fair_value": 53.691508, "relative_strength": 9.060733, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 67.085546, "energy": 83.521407, "activity_lines": [ 70.91234, 66.5277, 62.22392, 60.827899 ] }, { "date": "2024-03-29", "close": 68.01474, "volume": 10200, "typical_volume": 27230.0, "trend": 60.222469, "fair_value": 53.807265, "relative_strength": 7.710439, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 64.95362, "energy": 70.493809, "activity_lines": [ 70.388804, 67.43017, 63.011392, 61.351584 ] }, { "date": "2024-04-05", "close": 77.364571, "volume": 29000, "typical_volume": 23965.0, "trend": 60.755715, "fair_value": 53.965399, "relative_strength": 22.592899, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 80.386885, "energy": 61.81355, "activity_lines": [ 72.563953, 69.802, 64.633097, 62.457526 ] }, { "date": "2024-04-12", "close": 76.462181, "volume": 71500, "typical_volume": 26705.0, "trend": 61.174942, "fair_value": 54.094909, "relative_strength": 21.012458, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 72.40868, "energy": 56.305821, "activity_lines": [ 73.710016, 71.626117, 66.076484, 63.470847 ] }, { "date": "2024-04-19", "close": 53.402782, "volume": 140500, "typical_volume": 32580.0, "trend": 60.846428, "fair_value": 53.992697, "relative_strength": -14.509944, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 17.101929, "energy": 15.683619, "activity_lines": [ 67.255041, 68.865818, 65.228688, 62.969417 ] }, { "date": "2024-04-26", "close": 57.722122, "volume": 58400, "typical_volume": 34185.0, "trend": 60.632435, "fair_value": 53.919051, "relative_strength": -8.445189, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 15.578781, "energy": 12.969806, "activity_lines": [ 63.623478, 66.961259, 64.804346, 62.767849 ] }, { "date": "2024-05-03", "close": 56.357605, "volume": 17500, "typical_volume": 34175.0, "trend": 60.490155, "fair_value": 53.825427, "relative_strength": -11.865678, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -10.228787, "energy": 21.26867, "activity_lines": [ 60.211586, 64.828221, 64.239262, 62.492053 ] }, { "date": "2024-05-10", "close": 51.527794, "volume": 33000, "typical_volume": 34515.0, "trend": 60.297744, "fair_value": 53.658805, "relative_strength": -18.391471, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -29.037399, "energy": 36.047188, "activity_lines": [ 55.9669, 61.915004, 63.209169, 61.913836 ] }, { "date": "2024-05-17", "close": 47.444054, "volume": 23700, "typical_volume": 34995.0, "trend": 59.932465, "fair_value": 53.465949, "relative_strength": -24.740264, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -34.769312, "energy": 50.900509, "activity_lines": [ 52.083419, 58.530424, 61.815527, 61.084566 ] }, { "date": "2024-05-24", "close": 48.592606, "volume": 22700, "typical_volume": 35560.0, "trend": 59.641898, "fair_value": 53.278536, "relative_strength": -20.095535, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -32.318164, "energy": 56.206721, "activity_lines": [ 50.517331, 55.905572, 60.578409, 60.352962 ] }, { "date": "2024-05-31", "close": 46.521282, "volume": 12600, "typical_volume": 35805.0, "trend": 59.277852, "fair_value": 53.058363, "relative_strength": -21.682371, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -42.777477, "energy": 61.867479, "activity_lines": [ 48.581479, 53.368928, 59.182914, 59.506471 ] }, { "date": "2024-06-07", "close": 46.148247, "volume": 6300, "typical_volume": 35705.0, "trend": 58.942549, "fair_value": 52.804458, "relative_strength": -21.025641, "stage": 4, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -68.436374, "energy": 71.165486, "activity_lines": [ 47.268006, 51.152069, 57.797408, 58.6594 ] }, { "date": "2024-06-14", "close": 45.647598, "volume": 8700, "typical_volume": 35735.0, "trend": 58.531958, "fair_value": 52.553273, "relative_strength": -20.662348, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -67.737411, "energy": 68.439908, "activity_lines": [ 46.468273, 49.241755, 56.407949, 57.801661 ] }, { "date": "2024-06-21", "close": 46.521282, "volume": 11300, "typical_volume": 35810.0, "trend": 58.199271, "fair_value": 52.33005, "relative_strength": -19.801855, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -64.33999, "energy": 69.940285, "activity_lines": [ 46.351781, 48.066965, 55.152254, 57.026779 ] }, { "date": "2024-06-28", "close": 46.717617, "volume": 5400, "typical_volume": 35585.0, "trend": 57.891816, "fair_value": 52.158965, "relative_strength": -20.69105, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -61.790911, "energy": 62.477951, "activity_lines": [ 46.362252, 47.472252, 53.955219, 56.286027 ] }, { "date": "2024-07-05", "close": 47.355701, "volume": 8200, "typical_volume": 35575.0, "trend": 57.621785, "fair_value": 51.99948, "relative_strength": -20.625826, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -59.591758, "energy": 54.721795, "activity_lines": [ 46.710417, 47.115103, 52.869228, 55.606277 ] }, { "date": "2024-07-12", "close": 48.769306, "volume": 8200, "typical_volume": 34965.0, "trend": 57.404026, "fair_value": 51.803938, "relative_strength": -19.365819, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -46.890626, "energy": 38.555718, "activity_lines": [ 47.474156, 47.203454, 51.972367, 55.03515 ] }, { "date": "2024-07-19", "close": 46.550732, "volume": 12800, "typical_volume": 34870.0, "trend": 57.060479, "fair_value": 51.602024, "relative_strength": -21.726288, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -51.698969, "energy": 58.301317, "activity_lines": [ 47.323634, 47.026396, 50.926006, 54.334937 ] }, { "date": "2024-07-26", "close": 45.549431, "volume": 10300, "typical_volume": 32070.0, "trend": 56.667357, "fair_value": 51.400637, "relative_strength": -22.806496, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -57.144189, "energy": 64.047621, "activity_lines": [ 46.779135, 46.757776, 49.878995, 53.592289 ] }, { "date": "2024-08-02", "close": 40.935589, "volume": 18500, "typical_volume": 28810.0, "trend": 56.139879, "fair_value": 51.159905, "relative_strength": -29.200347, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -81.584889, "energy": 80.501572, "activity_lines": [ 44.761479, 45.684723, 48.545877, 52.577336 ] }, { "date": "2024-08-09", "close": 40.886505, "volume": 9100, "typical_volume": 25895.0, "trend": 55.633443, "fair_value": 50.944099, "relative_strength": -31.383448, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -80.344582, "energy": 89.807111, "activity_lines": [ 43.11293, 44.741964, 47.366282, 51.593248 ] }, { "date": "2024-08-16", "close": 40.601822, "volume": 10900, "typical_volume": 25930.0, "trend": 55.142463, "fair_value": 50.758261, "relative_strength": -33.087308, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -76.644028, "energy": 89.535033, "activity_lines": [ 41.800766, 43.849895, 46.287923, 50.623466 ] }, { "date": "2024-08-23", "close": 40.395672, "volume": 16200, "typical_volume": 25290.0, "trend": 54.61351, "fair_value": 50.544731, "relative_strength": -33.711386, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -73.774495, "energy": 89.140955, "activity_lines": [ 40.964385, 43.021189, 45.320469, 49.67206 ] }, { "date": "2024-08-30", "close": 40.533104, "volume": 15600, "typical_volume": 22495.0, "trend": 54.13417, "fair_value": 50.352806, "relative_strength": -33.117893, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -69.364545, "energy": 86.594165, "activity_lines": [ 40.584152, 42.312959, 44.542146, 48.763646 ] }, { "date": "2024-09-06", "close": 39.040966, "volume": 21500, "typical_volume": 16545.0, "trend": 53.526367, "fair_value": 50.141264, "relative_strength": -34.207183, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -76.826371, "energy": 76.387954, "activity_lines": [ 40.040961, 41.442308, 43.792805, 47.789891 ] }, { "date": "2024-09-13", "close": 41.387154, "volume": 7500, "typical_volume": 14000.0, "trend": 52.945907, "fair_value": 49.947133, "relative_strength": -29.70512, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -66.109647, "energy": 63.748147, "activity_lines": [ 40.406141, 41.137812, 43.335301, 47.006716 ] }, { "date": "2024-09-20", "close": 44.459778, "volume": 26000, "typical_volume": 14425.0, "trend": 52.369704, "fair_value": 49.795964, "relative_strength": -21.57519, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -51.580718, "energy": 47.227153, "activity_lines": [ 41.762152, 41.500494, 43.248213, 46.459224 ] }, { "date": "2024-09-27", "close": 39.279999, "volume": 80400, "typical_volume": 16795.0, "trend": 51.464363, "fair_value": 49.607413, "relative_strength": -30.798736, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -60.857063, "energy": 44.677244, "activity_lines": [ 41.134374, 40.999752, 42.724468, 45.614727 ] }, { "date": "2024-10-04", "close": 39.900002, "volume": 14700, "typical_volume": 16345.0, "trend": 50.202909, "fair_value": 49.442487, "relative_strength": -28.471934, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -53.638803, "energy": 38.521825, "activity_lines": [ 40.787641, 40.743934, 42.318095, 44.868639 ] }, { "date": "2024-10-11", "close": 39.869999, "volume": 8100, "typical_volume": 15615.0, "trend": 49.060001, "fair_value": 49.262687, "relative_strength": -26.910691, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -61.189304, "energy": 41.443951, "activity_lines": [ 40.473114, 40.585378, 41.944788, 44.202 ] }, { "date": "2024-10-18", "close": 39.759998, "volume": 4400, "typical_volume": 15205.0, "trend": 48.124008, "fair_value": 49.087377, "relative_strength": -26.685086, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -61.881888, "energy": 47.40208, "activity_lines": [ 40.066651, 40.426196, 41.602542, 43.602 ] }, { "date": "2024-10-25", "close": 39.150002, "volume": 4500, "typical_volume": 15115.0, "trend": 47.16185, "fair_value": 48.906124, "relative_strength": -26.780473, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -65.129417, "energy": 49.901914, "activity_lines": [ 39.565333, 40.176587, 41.234396, 43.023031 ] }, { "date": "2024-11-01", "close": 39.330002, "volume": 3800, "typical_volume": 14870.0, "trend": 45.894031, "fair_value": 48.724613, "relative_strength": -24.797034, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -64.913962, "energy": 57.562355, "activity_lines": [ 39.478001, 39.986102, 40.916719, 42.517751 ] }, { "date": "2024-11-08", "close": 40.700001, "volume": 7200, "typical_volume": 14665.0, "trend": 44.701958, "fair_value": 48.570462, "relative_strength": -21.454362, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -58.559583, "energy": 42.37775, "activity_lines": [ 39.844001, 40.064084, 40.759602, 42.182652 ] }, { "date": "2024-11-15", "close": 40.990002, "volume": 1000, "typical_volume": 14445.0, "trend": 44.288199, "fair_value": 48.446183, "relative_strength": -20.331691, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -44.109104, "energy": 30.796984, "activity_lines": [ 40.253335, 40.191759, 40.657824, 41.943171 ] }, { "date": "2024-11-22", "close": 39.650002, "volume": 13800, "typical_volume": 14725.0, "trend": 43.685795, "fair_value": 48.319007, "relative_strength": -23.207749, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -45.473709, "energy": 27.150733, "activity_lines": [ 40.141335, 40.040361, 40.455702, 41.643933 ] }, { "date": "2024-11-29", "close": 39.990002, "volume": 4700, "typical_volume": 14550.0, "trend": 43.140208, "fair_value": 48.280936, "relative_strength": -19.962019, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -38.097183, "energy": 21.640874, "activity_lines": [ 40.150002, 39.982365, 40.322654, 41.405494 ] }, { "date": "2024-12-06", "close": 39.779999, "volume": 4700, "typical_volume": 14145.0, "trend": 42.748615, "fair_value": 48.200646, "relative_strength": -20.092355, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -40.199378, "energy": 23.178643, "activity_lines": [ 40.032668, 39.967456, 40.211412, 41.188707 ] }, { "date": "2024-12-13", "close": 39.009998, "volume": 6400, "typical_volume": 13950.0, "trend": 42.46748, "fair_value": 48.065496, "relative_strength": -20.367433, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -56.644052, "energy": 33.515161, "activity_lines": [ 39.628667, 39.803455, 40.059078, 40.947506 ] }, { "date": "2024-12-20", "close": 39.400002, "volume": 19000, "typical_volume": 13975.0, "trend": 42.16106, "fair_value": 47.976508, "relative_strength": -17.491699, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -52.620094, "energy": 32.570972, "activity_lines": [ 39.467334, 39.726546, 39.975028, 40.749604 ] }, { "date": "2024-12-27", "close": 40.900002, "volume": 14100, "typical_volume": 14225.0, "trend": 41.973684, "fair_value": 47.806112, "relative_strength": -12.670384, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -43.609691, "energy": 24.116083, "activity_lines": [ 39.912001, 39.93091, 40.041147, 40.668245 ] }, { "date": "2025-01-03", "close": 38.75, "volume": 3800, "typical_volume": 13870.0, "trend": 41.727076, "fair_value": 47.666222, "relative_strength": -15.620042, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -57.294402, "energy": 30.551444, "activity_lines": [ 39.556667, 39.723637, 39.90244, 40.460266 ] }, { "date": "2025-01-10", "close": 39.98, "volume": 2200, "typical_volume": 13170.0, "trend": 41.538156, "fair_value": 47.602584, "relative_strength": -12.781017, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -44.775306, "energy": 21.267662, "activity_lines": [ 39.694001, 39.747273, 39.889694, 40.347551 ] }, { "date": "2025-01-17", "close": 37.689999, "volume": 9700, "typical_volume": 12875.0, "trend": 41.24378, "fair_value": 47.551021, "relative_strength": -19.622059, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -62.246889, "energy": 32.009427, "activity_lines": [ 39.054667, 39.342728, 39.660832, 40.099283 ] }, { "date": "2025-01-24", "close": 43.630001, "volume": 13700, "typical_volume": 12485.0, "trend": 41.140859, "fair_value": 47.555182, "relative_strength": -6.653595, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": 4.762393, "energy": 4.073233, "activity_lines": [ 40.483334, 40.072909, 40.011223, 40.253233 ] }, { "date": "2025-01-31", "close": 44.380001, "volume": 4100, "typical_volume": 12315.0, "trend": 41.041669, "fair_value": 47.555043, "relative_strength": -7.452548, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 31.596876, "energy": 30.647547, "activity_lines": [ 41.88, 40.891455, 40.41119, 40.46221 ] }, { "date": "2025-02-07", "close": 41.509998, "volume": 5700, "typical_volume": 11300.0, "trend": 40.799692, "fair_value": 47.513736, "relative_strength": -11.875043, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 21.235287, "energy": 34.661064, "activity_lines": [ 42.088, 41.102182, 40.523572, 40.492424 ] }, { "date": "2025-02-14", "close": 41.0, "volume": 8000, "typical_volume": 7680.0, "trend": 40.614668, "fair_value": 47.480488, "relative_strength": -14.807716, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 23.374462, "energy": 28.596313, "activity_lines": [ 41.942, 41.192545, 40.601429, 40.505347 ] }, { "date": "2025-02-21", "close": 42.240002, "volume": 4800, "typical_volume": 7185.0, "trend": 40.504353, "fair_value": 47.495833, "relative_strength": -10.816135, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 51.41439, "energy": 46.943721, "activity_lines": [ 42.141334, 41.486182, 40.789191, 40.610208 ] }, { "date": "2025-02-28", "close": 42.389999, "volume": 7000, "typical_volume": 7130.0, "trend": 40.552834, "fair_value": 47.519369, "relative_strength": -6.528304, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 52.451024, "energy": 27.441635, "activity_lines": [ 42.087333, 41.748364, 40.980096, 40.731862 ] }, { "date": "2025-03-07", "close": 43.0, "volume": 3000, "typical_volume": 7060.0, "trend": 40.623284, "fair_value": 47.570668, "relative_strength": -5.561352, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 55.558957, "energy": 29.097536, "activity_lines": [ 42.319333, 42.067091, 41.217095, 40.889744 ] }, { "date": "2025-03-14", "close": 41.400002, "volume": 12900, "typical_volume": 7480.0, "trend": 40.64989, "fair_value": 47.596966, "relative_strength": -10.593875, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 47.526366, "energy": 24.757283, "activity_lines": [ 42.110001, 42.056728, 41.286286, 40.939855 ] }, { "date": "2025-03-21", "close": 41.689999, "volume": 25900, "typical_volume": 8585.0, "trend": 40.693034, "fair_value": 47.622277, "relative_strength": -11.231035, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 36.828342, "energy": 18.731716, "activity_lines": [ 42.004667, 42.050909, 41.372381, 41.006959 ] }, { "date": "2025-03-28", "close": 39.040001, "volume": 31200, "typical_volume": 9785.0, "trend": 40.643264, "fair_value": 47.639709, "relative_strength": -15.518755, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 16.602988, "energy": 9.793603, "activity_lines": [ 40.97, 41.532182, 41.194857, 40.900311 ] }, { "date": "2025-04-04", "close": 34.299999, "volume": 42300, "typical_volume": 11850.0, "trend": 40.485231, "fair_value": 47.617079, "relative_strength": -21.600282, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -35.637944, "energy": 36.767389, "activity_lines": [ 38.568667, 40.127091, 40.57381, 40.491068 ] }, { "date": "2025-04-11", "close": 32.5, "volume": 22100, "typical_volume": 12265.0, "trend": 40.188993, "fair_value": 47.59828, "relative_strength": -24.472912, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -78.884621, "energy": 75.332274, "activity_lines": [ 36.106667, 38.564364, 39.813191, 39.975892 ] }, { "date": "2025-04-18", "close": 32.599998, "volume": 10800, "typical_volume": 12570.0, "trend": 39.793667, "fair_value": 47.588092, "relative_strength": -24.63642, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -76.164158, "energy": 82.007383, "activity_lines": [ 34.377999, 37.235818, 39.096143, 39.48628 ] }, { "date": "2025-04-25", "close": 32.299999, "volume": 17000, "typical_volume": 13185.0, "trend": 39.561, "fair_value": 47.589643, "relative_strength": -27.242323, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -73.885582, "energy": 86.744034, "activity_lines": [ 33.135999, 36.014727, 38.385714, 39.002817 ] }, { "date": "2025-05-02", "close": 32.5, "volume": 9400, "typical_volume": 13335.0, "trend": 39.314334, "fair_value": 47.619468, "relative_strength": -26.152159, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -69.340953, "energy": 85.651583, "activity_lines": [ 32.586666, 34.988181, 37.729952, 38.547269 ] }, { "date": "2025-05-09", "close": 32.5, "volume": 17000, "typical_volume": 13235.0, "trend": 39.068667, "fair_value": 47.646594, "relative_strength": -26.175054, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -66.815104, "energy": 82.999044, "activity_lines": [ 32.473333, 34.138727, 37.10519, 38.107634 ] }, { "date": "2025-05-16", "close": 32.639999, "volume": 31100, "typical_volume": 14085.0, "trend": 38.831334, "fair_value": 47.665089, "relative_strength": -26.688659, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -64.582651, "energy": 74.976216, "activity_lines": [ 32.526666, 33.494545, 36.526619, 37.692882 ] }, { "date": "2025-05-23", "close": 30.65, "volume": 40400, "typical_volume": 15915.0, "trend": 38.548, "fair_value": 47.634835, "relative_strength": -29.765915, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -74.874157, "energy": 62.857996, "activity_lines": [ 31.907333, 32.676909, 35.797857, 37.165054 ] }, { "date": "2025-05-30", "close": 30.34, "volume": 18500, "typical_volume": 16730.0, "trend": 38.248333, "fair_value": 47.617869, "relative_strength": -29.387432, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -73.462357, "energy": 65.989437, "activity_lines": [ 31.314666, 31.998363, 35.078143, 36.635505 ] }, { "date": "2025-06-06", "close": 31.9, "volume": 15600, "typical_volume": 17025.0, "trend": 37.955, "fair_value": 47.617516, "relative_strength": -24.568657, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -62.558177, "energy": 58.341327, "activity_lines": [ 31.372667, 31.809818, 34.552905, 36.225935 ] }, { "date": "2025-06-13", "close": 32.98, "volume": 14600, "typical_volume": 17070.0, "trend": 37.688, "fair_value": 47.65335, "relative_strength": -21.964775, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -59.963325, "energy": 53.272656, "activity_lines": [ 31.830667, 31.947454, 34.158095, 35.904968 ] }, { "date": "2025-06-20", "close": 31.35, "volume": 23100, "typical_volume": 18020.0, "trend": 37.411333, "fair_value": 47.64953, "relative_strength": -25.044874, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -63.856721, "energy": 51.806061, "activity_lines": [ 31.713333, 31.812727, 33.658762, 35.496064 ] }, { "date": "2025-06-27", "close": 30.25, "volume": 30000, "typical_volume": 19235.0, "trend": 37.086667, "fair_value": 47.641527, "relative_strength": -26.822989, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -72.21033, "energy": 53.934428, "activity_lines": [ 31.315333, 31.498909, 33.116714, 35.034043 ] }, { "date": "2025-07-04", "close": 32.0, "volume": 25900, "typical_volume": 20130.0, "trend": 36.827333, "fair_value": 47.627769, "relative_strength": -24.39651, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -58.313081, "energy": 46.659992, "activity_lines": [ 31.527333, 31.546, 32.794952, 34.705871 ] }, { "date": "2025-07-11", "close": 30.58, "volume": 16100, "typical_volume": 20695.0, "trend": 36.546333, "fair_value": 47.613102, "relative_strength": -24.194984, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -67.088884, "energy": 53.626875, "activity_lines": [ 31.155333, 31.340364, 32.380809, 34.302817 ] }, { "date": "2025-07-18", "close": 29.799999, "volume": 6100, "typical_volume": 20650.0, "trend": 36.226333, "fair_value": 47.603677, "relative_strength": -23.876447, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -71.830308, "energy": 57.420251, "activity_lines": [ 30.611333, 31.027818, 31.947905, 33.86757 ] }, { "date": "2025-07-25", "close": 29.35, "volume": 11500, "typical_volume": 21075.0, "trend": 35.841333, "fair_value": 47.592831, "relative_strength": -24.424991, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -72.205172, "energy": 56.647168, "activity_lines": [ 30.129333, 30.682545, 31.532095, 33.423935 ] }, { "date": "2025-08-01", "close": 29.34, "volume": 11200, "typical_volume": 20990.0, "trend": 35.527667, "fair_value": 47.555584, "relative_strength": -23.304675, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -68.650093, "energy": 56.406786, "activity_lines": [ 29.777333, 30.395273, 31.180333, 33.004494 ] }, { "date": "2025-08-08", "close": 28.99, "volume": 7400, "typical_volume": 20065.0, "trend": 35.161333, "fair_value": 47.533651, "relative_strength": -25.664108, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -67.986984, "energy": 56.196174, "activity_lines": [ 29.369333, 30.068182, 30.852666, 32.58271 ] }, { "date": "2025-08-15", "close": 28.709999, "volume": 36000, "typical_volume": 20305.0, "trend": 34.862, "fair_value": 47.508753, "relative_strength": -26.155243, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -68.248452, "energy": 54.377388, "activity_lines": [ 29.068666, 29.714727, 30.558809, 32.166494 ] }, { "date": "2025-08-22", "close": 28.5, "volume": 17400, "typical_volume": 19060.0, "trend": 34.357667, "fair_value": 47.466883, "relative_strength": -27.110963, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -68.318757, "energy": 54.577963, "activity_lines": [ 28.822666, 29.381091, 30.294143, 31.756043 ] }, { "date": "2025-08-29", "close": 28.26, "volume": 9800, "typical_volume": 18445.0, "trend": 33.820333, "fair_value": 47.431491, "relative_strength": -29.016966, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -67.743631, "energy": 52.871228, "activity_lines": [ 28.583333, 29.085273, 30.034238, 31.362645 ] }, { "date": "2025-09-05", "close": 28.209999, "volume": 8500, "typical_volume": 18330.0, "trend": 33.377, "fair_value": 47.39578, "relative_strength": -29.301641, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -66.055262, "energy": 51.660212, "activity_lines": [ 28.4, 28.836545, 29.789762, 31.000688 ] }, { "date": "2025-09-12", "close": 27.9, "volume": 24500, "typical_volume": 18705.0, "trend": 32.940333, "fair_value": 47.364519, "relative_strength": -29.359928, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -66.889754, "energy": 50.750726, "activity_lines": [ 28.188666, 28.568545, 29.536666, 30.647333 ] }, { "date": "2025-09-19", "close": 28.190001, "volume": 43100, "typical_volume": 20390.0, "trend": 32.472, "fair_value": 47.337516, "relative_strength": -29.672717, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -61.190905, "energy": 47.265035, "activity_lines": [ 28.146667, 28.427818, 29.332143, 30.34086 ] }, { "date": "2025-09-26", "close": 32.720001, "volume": 266100, "typical_volume": 32845.0, "trend": 32.149667, "fair_value": 47.307363, "relative_strength": -17.728216, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -15.096976, "energy": 11.1722, "activity_lines": [ 29.649334, 29.154182, 29.579571, 30.35686 ] }, { "date": "2025-10-03", "close": 35.220001, "volume": 52600, "typical_volume": 33920.0, "trend": 31.890333, "fair_value": 47.26251, "relative_strength": -10.3079, "stage": 1, "regime": "rotation_up", "modifier": "Structural repair", "gate": "down", "direction": 18.550087, "energy": 27.074678, "activity_lines": [ 31.704001, 30.282, 30.064048, 30.554946 ] }, { "date": "2025-10-10", "close": 35.200001, "volume": 76500, "typical_volume": 35725.0, "trend": 31.683667, "fair_value": 47.230579, "relative_strength": -7.747175, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 38.754193, "energy": 44.5694, "activity_lines": [ 33.288001, 31.299455, 30.534334, 30.768473 ] }, { "date": "2025-10-17", "close": 35.5, "volume": 46700, "typical_volume": 37135.0, "trend": 31.477333, "fair_value": 47.18319, "relative_strength": -8.353915, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 36.913475, "energy": 58.271567, "activity_lines": [ 34.506001, 32.26491, 31.011524, 31.014688 ] }, { "date": "2025-10-24", "close": 38.900002, "volume": 24400, "typical_volume": 37575.0, "trend": 31.472667, "fair_value": 47.159, "relative_strength": -1.233607, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "up", "direction": 86.376356, "energy": 89.497717, "activity_lines": [ 36.350668, 33.730183, 31.787953, 31.49357 ] }, { "date": "2025-10-31", "close": 40.48, "volume": 11700, "typical_volume": 37430.0, "trend": 31.678667, "fair_value": 47.146401, "relative_strength": 0.72397, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 86.710474, "energy": 91.765158, "activity_lines": [ 38.008001, 35.297455, 32.681524, 32.074688 ] }, { "date": "2025-11-07", "close": 39.700001, "volume": 18000, "typical_volume": 37175.0, "trend": 31.918667, "fair_value": 47.174394, "relative_strength": -3.699242, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 75.164154, "energy": 87.50904, "activity_lines": [ 38.888001, 36.505092, 33.465096, 32.592194 ] }, { "date": "2025-11-14", "close": 38.900002, "volume": 16800, "typical_volume": 36515.0, "trend": 32.128667, "fair_value": 47.191874, "relative_strength": -7.344476, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 67.113203, "energy": 81.65644, "activity_lines": [ 39.202668, 37.359274, 34.132715, 33.042603 ] }, { "date": "2025-11-21", "close": 37.990002, "volume": 46800, "typical_volume": 37560.0, "trend": 32.318334, "fair_value": 47.194977, "relative_strength": -7.363809, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 63.969191, "energy": 57.150995, "activity_lines": [ 38.967335, 37.853638, 34.672477, 33.420753 ] }, { "date": "2025-11-28", "close": 37.09, "volume": 29700, "typical_volume": 38240.0, "trend": 32.471334, "fair_value": 47.166441, "relative_strength": -11.457774, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 59.440194, "energy": 47.280883, "activity_lines": [ 38.266001, 38.00091, 35.098001, 33.728603 ] }, { "date": "2025-12-05", "close": 37.5, "volume": 20200, "typical_volume": 38945.0, "trend": 32.638, "fair_value": 47.098396, "relative_strength": -8.994816, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 45.634779, "energy": 35.335841, "activity_lines": [ 37.822001, 38.06091, 35.531572, 34.053033 ] }, { "date": "2025-12-12", "close": 36.080002, "volume": 25100, "typical_volume": 39625.0, "trend": 32.752667, "fair_value": 47.011942, "relative_strength": -13.729473, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 39.859579, "energy": 25.889109, "activity_lines": [ 37.103334, 37.775819, 35.793239, 34.275097 ] }, { "date": "2025-12-19", "close": 40.400002, "volume": 80100, "typical_volume": 43070.0, "trend": 33.077667, "fair_value": 46.902205, "relative_strength": -1.508962, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 54.050113, "energy": 32.585993, "activity_lines": [ 38.066001, 38.260547, 36.434287, 34.768474 ] }, { "date": "2025-12-26", "close": 43.369999, "volume": 14100, "typical_volume": 43405.0, "trend": 33.512, "fair_value": 46.782301, "relative_strength": 4.687175, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 77.011736, "energy": 51.959429, "activity_lines": [ 39.918667, 39.190728, 37.305525, 35.432495 ] }, { "date": "2026-01-02", "close": 43.5, "volume": 12800, "typical_volume": 42245.0, "trend": 33.898667, "fair_value": 46.686583, "relative_strength": 5.676731, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 75.28317, "energy": 73.962899, "activity_lines": [ 41.456, 40.001455, 38.120667, 36.076882 ] }, { "date": "2026-01-09", "close": 42.57, "volume": 16500, "typical_volume": 42200.0, "trend": 34.218334, "fair_value": 46.576183, "relative_strength": 2.206385, "stage": 1, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 66.089252, "energy": 76.313463, "activity_lines": [ 42.256, 40.559455, 38.77681, 36.636323 ] }, { "date": "2026-01-16", "close": 42.799999, "volume": 11000, "typical_volume": 42260.0, "trend": 34.6, "fair_value": 46.470125, "relative_strength": 2.239744, "stage": 1, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 65.00547, "energy": 76.255189, "activity_lines": [ 42.794666, 41.121273, 39.387858, 37.189979 ] }, { "date": "2026-01-23", "close": 47.0, "volume": 23400, "typical_volume": 43005.0, "trend": 35.158334, "fair_value": 46.402696, "relative_strength": 4.185359, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 83.923539, "energy": 82.951007, "activity_lines": [ 44.285333, 42.390364, 40.329667, 37.989979 ] }, { "date": "2026-01-30", "close": 48.900002, "volume": 16200, "typical_volume": 42590.0, "trend": 35.721667, "fair_value": 46.405562, "relative_strength": 7.574322, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 86.20462, "energy": 86.681988, "activity_lines": [ 45.969334, 43.857637, 41.362953, 38.876538 ] }, { "date": "2026-02-06", "close": 47.720001, "volume": 29200, "typical_volume": 41895.0, "trend": 36.293, "fair_value": 46.428312, "relative_strength": 4.648588, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 73.954624, "energy": 82.68866, "activity_lines": [ 46.891334, 44.912, 42.183858, 39.650624 ] }, { "date": "2026-02-13", "close": 48.0, "volume": 17400, "typical_volume": 29460.0, "trend": 36.899667, "fair_value": 46.449814, "relative_strength": 3.778073, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 70.997227, "energy": 82.375959, "activity_lines": [ 47.625334, 45.824, 42.938429, 40.405915 ] }, { "date": "2026-02-20", "close": 47.139999, "volume": 8200, "typical_volume": 27240.0, "trend": 37.492667, "fair_value": 46.460535, "relative_strength": 0.402121, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 66.601607, "energy": 74.867338, "activity_lines": [ 47.710667, 46.388727, 43.538334, 41.066581 ] }, { "date": "2026-02-27", "close": 47.990002, "volume": 28600, "typical_volume": 24845.0, "trend": 38.114334, "fair_value": 46.48092, "relative_strength": 3.896187, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 66.351554, "energy": 58.383444, "activity_lines": [ 47.790001, 46.90691, 44.162429, 41.743829 ] }, { "date": "2026-03-06", "close": 47.450001, "volume": 41700, "typical_volume": 24595.0, "trend": 38.729667, "fair_value": 46.512942, "relative_strength": 8.802, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 61.067598, "energy": 49.66736, "activity_lines": [ 47.623334, 47.18891, 44.674191, 42.34613 ] }, { "date": "2026-03-13", "close": 44.5, "volume": 25700, "typical_volume": 24660.0, "trend": 39.256001, "fair_value": 46.541739, "relative_strength": 3.599085, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 46.02526, "energy": 34.719891, "activity_lines": [ 46.570001, 46.860364, 44.848096, 42.718409 ] }, { "date": "2026-03-20", "close": 43.220001, "volume": 14600, "typical_volume": 24805.0, "trend": 39.746667, "fair_value": 46.561863, "relative_strength": 2.003815, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 38.926296, "energy": 23.711474, "activity_lines": [ 45.304667, 46.28091, 44.873429, 42.974151 ] }, { "date": "2026-03-27", "close": 42.5, "volume": 46100, "typical_volume": 26210.0, "trend": 40.221334, "fair_value": 46.597269, "relative_strength": -2.160231, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 23.646541, "energy": 21.118268, "activity_lines": [ 44.118001, 45.558728, 44.817143, 43.151786 ] }, { "date": "2026-04-03", "close": 40.389999, "volume": 53000, "typical_volume": 28020.0, "trend": 40.627334, "fair_value": 46.622779, "relative_strength": -9.832311, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -5.722846, "energy": 20.962268, "activity_lines": [ 42.537333, 44.458364, 44.546572, 43.162667 ] }, { "date": "2026-04-10", "close": 40.150002, "volume": 45400, "typical_volume": 27950.0, "trend": 41.035667, "fair_value": 46.60748, "relative_strength": -14.226152, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -9.861469, "energy": 28.360246, "activity_lines": [ 41.383334, 43.434546, 44.246048, 43.131872 ] }, { "date": "2026-04-17", "close": 38.610001, "volume": 31600, "typical_volume": 28045.0, "trend": 41.383001, "fair_value": 46.484271, "relative_strength": -16.47917, "stage": 3, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -34.985616, "energy": 45.798825, "activity_lines": [ 40.202667, 42.289819, 43.788572, 42.975377 ] }, { "date": "2026-04-24", "close": 38.98, "volume": 10200, "typical_volume": 27545.0, "trend": 41.591667, "fair_value": 46.395707, "relative_strength": -13.223452, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -32.293289, "energy": 59.724469, "activity_lines": [ 39.538001, 41.378001, 43.359096, 42.820345 ] }, { "date": "2026-05-01", "close": 46.84, "volume": 212000, "typical_volume": 36890.0, "trend": 41.979001, "fair_value": 46.375959, "relative_strength": 6.099265, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": 2.456708, "energy": 14.512848, "activity_lines": [ 41.776, 42.059273, 43.671143, 43.158947 ] }, { "date": "2026-05-08", "close": 41.16, "volume": 33400, "typical_volume": 34555.0, "trend": 42.177667, "fair_value": 46.259125, "relative_strength": -5.028741, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -9.136614, "energy": 11.899267, "activity_lines": [ 41.831334, 41.713273, 43.391, 43.106108 ] }, { "date": "2026-05-15", "close": 39.880001, "volume": 45700, "typical_volume": 36135.0, "trend": 42.323667, "fair_value": 46.144662, "relative_strength": -4.365578, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -12.832845, "energy": 9.873531, "activity_lines": [ 41.408667, 41.258728, 42.985334, 42.957871 ] }, { "date": "2026-05-22", "close": 39.959999, "volume": 22500, "typical_volume": 36620.0, "trend": 42.359001, "fair_value": 46.023096, "relative_strength": -3.624266, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -18.927712, "energy": 11.631147, "activity_lines": [ 41.030667, 40.956364, 42.603905, 42.805377 ] }, { "date": "2026-05-29", "close": 37.810001, "volume": 15600, "typical_volume": 36575.0, "trend": 42.270001, "fair_value": 45.888414, "relative_strength": -7.509647, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -41.652274, "energy": 39.573756, "activity_lines": [ 39.846, 40.345637, 42.034572, 42.511893 ] }, { "date": "2026-06-05", "close": 37.700001, "volume": 6000, "typical_volume": 36325.0, "trend": 42.203334, "fair_value": 45.740478, "relative_strength": -5.088712, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -39.705907, "energy": 55.827202, "activity_lines": [ 38.702667, 39.813273, 41.477429, 42.217054 ] }, { "date": "2026-06-12", "close": 37.310001, "volume": 6800, "typical_volume": 35495.0, "trend": 42.150334, "fair_value": 45.568844, "relative_strength": -7.060971, "stage": 4, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -69.219517, "energy": 70.926492, "activity_lines": [ 38.038667, 39.297273, 40.907429, 41.901355 ] }, { "date": "2026-06-19", "close": 37.990002, "volume": 500, "typical_volume": 34710.0, "trend": 42.150334, "fair_value": 45.410401, "relative_strength": -3.905837, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -62.632685, "energy": 69.630661, "activity_lines": [ 37.858001, 38.96091, 40.448334, 41.632947 ] }, { "date": "2026-06-26", "close": 38.509998, "volume": 4700, "typical_volume": 33485.0, "trend": 42.197667, "fair_value": 45.267413, "relative_strength": -5.252436, "stage": 1, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -59.966177, "energy": 63.169101, "activity_lines": [ 37.976667, 38.758364, 40.090715, 41.398086 ] }, { "date": "2026-07-03", "close": 37.040001, "volume": 3300, "typical_volume": 32780.0, "trend": 42.182334, "fair_value": 45.103978, "relative_strength": -9.275472, "stage": 1, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -65.448748, "energy": 56.290074, "activity_lines": [ 37.702, 38.290364, 39.636953, 41.065334 ] }, { "date": "2026-07-10", "close": 37.41, "volume": 11300, "typical_volume": 32935.0, "trend": 42.226667, "fair_value": 44.929878, "relative_strength": -10.118918, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -60.291771, "energy": 44.027188, "activity_lines": [ 37.602, 37.924909, 39.270619, 40.757441 ] }, { "date": "2026-07-17", "close": 36.25, "volume": 21300, "typical_volume": 32570.0, "trend": 42.088334, "fair_value": 44.752606, "relative_strength": -10.716093, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -68.149849, "energy": 50.693924, "activity_lines": [ 37.134667, 37.52, 38.840143, 40.37185 ] }, { "date": "2026-07-24", "close": 36.389999, "volume": 22000, "typical_volume": 31585.0, "trend": 41.855667, "fair_value": 44.582689, "relative_strength": -10.461189, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -63.961662, "energy": 51.620683, "activity_lines": [ 36.784666, 37.229818, 38.478905, 40.004215 ] }, { "date": "2026-07-31", "close": 36.470001, "volume": 14500, "typical_volume": 31025.0, "trend": 41.621334, "fair_value": 44.431254, "relative_strength": -12.138729, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -64.520195, "energy": 65.986836, "activity_lines": [ 36.568, 37.017637, 38.177953, 39.656753 ] }, { "date": "2026-08-07", "close": 36.029999, "volume": 17600, "typical_volume": 31175.0, "trend": 41.403334, "fair_value": 44.298988, "relative_strength": -10.405594, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -69.861271, "energy": 73.940831, "activity_lines": [ 36.340666, 36.788909, 37.873333, 39.296022 ] } ], "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." } } }