{ "ticker": { "uuid": "373d899b-4e5c-4bde-b752-95ca4255aace", "symbol": "FTXG", "name": "FIRST TRUST NASDAQ FOOD & BEVERAGE ETF", "exchange": "NASDAQ", "country": "US", "assetType": "etf" }, "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": "QQQ", "stage": 1, "stage_name": "Basing", "phase": "1b", "phase_label": "Stage 1B \u00b7 Basing", "transition": "stage_1_building", "transition_label": "Base still building", "confidence": 56.967, "architecture_regime": "upward_expansion", "architecture_regime_label": "Upward Expansion", "architecture_modifier": "Re-accelerating", "architecture_gate": "up", "architecture_direction": 54.581, "architecture_energy": 34.067, "architecture_maturity": 11.12, "architecture_confidence": 68.28, "architecture_tenure": "Developing", "architecture": { "interpretation": { "headline": "The weekly architecture is expanding upward.", "body": "Trend and Activity show sustained positive alignment with constructive price acceptance. Directional energy remains positive; cooling within this regime can indicate that it is maturing." }, "scores": { "balance": 26.88, "rotation_up": 57.57, "upward_expansion": 78.84, "deceleration": 53.41, "rotation_down": 16.54, "downward_expansion": 3.17 }, "activity_lines": [ 22.857007, 22.777993, 22.549223, 22.497527 ], "activity_state": "Moderate", "activity_direction": "Stable", "rotation_direction": "Improving", "price_acceptance": 0.833333 }, "latest_close": 22.7846, "trend_reference": 22.470014, "distance_from_trend": 0.014, "trend_direction": "Improving", "fair_value": 22.427204, "distance_from_fair_value": 0.015936, "fair_value_direction": "Improving", "relative_strength": -9.542525, "relative_strength_direction": "Improving", "price_momentum": -0.019734, "excess_performance": -0.207188, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.014, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.023756, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.015936, "read": "Premium" }, { "label": "Fair Value direction", "positive": true, "value": 0.029291, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.095425, "read": "Lagging" }, { "label": "Relative strength direction", "positive": true, "value": 0.060262, "read": "Improving" }, { "label": "Price momentum", "positive": false, "value": -0.019734, "read": "Negative" }, { "label": "Volume balance", "positive": false, "value": 0.576075, "read": "Supply-led" } ], "volume": { "latest": 266134, "relative_activity": 3.430915, "balance": 0.576075, "dry_up": 1.039988, "accumulation_observations": 2, "distribution_observations": 3 }, "risk": { "range_context": 0.029709, "annualized_volatility": 0.144051, "from_high_reference": -0.048664, "from_low_reference": 0.123368 }, "levels": { "trend_reference": 22.470014, "fair_value_reference": 22.427204, "structural_low": 21.382404, "invalidation": "A renewed decline below the structural range low, widening the discount to current Fair Value while Trend falls, weakens the base diagnosis." }, "outcomes": [ { "horizon": "Near term", "sample_count": 20, "median_return": -0.015301, "positive_rate": 0.35, "directional_follow_through": 0.35, "median_excess_return": -0.025535, "regime_survival": 0.7, "best_return": 0.037506, "worst_return": -0.07627, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 7, "median_return": -0.043364, "positive_rate": 0.142857, "directional_follow_through": 0.142857, "median_excess_return": -0.089591, "regime_survival": 0.142857, "best_return": 0.048032, "worst_return": -0.066613, "sufficient": true }, { "horizon": "Extended", "sample_count": 5, "median_return": -0.03763, "positive_rate": 0.2, "directional_follow_through": 0.2, "median_excess_return": -0.051846, "regime_survival": 0.4, "best_return": 0.047713, "worst_return": -0.080461, "sufficient": true }, { "horizon": "Full cycle", "sample_count": 3, "median_return": -0.038618, "positive_rate": 0.333333, "directional_follow_through": 0.333333, "median_excess_return": -0.141707, "regime_survival": 0.333333, "best_return": 0.037948, "worst_return": -0.077101, "sufficient": false } ], "ledger": [ { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2024-08-16", "end": "2024-10-18", "tenure": "Developing", "return": 0.021923, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2024-10-25", "end": "2024-11-15", "tenure": "New", "return": -0.043636, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2024-11-22", "end": "2024-12-13", "tenure": "New", "return": -0.003203, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2024-12-20", "end": "2024-12-27", "tenure": "New", "return": -0.000112, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2025-01-03", "end": "2025-01-10", "tenure": "New", "return": -0.046773, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-01-17", "end": "2025-03-14", "tenure": "Developing", "return": 0.0281, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-03-21", "end": "2025-09-19", "tenure": "Extended", "return": -0.037637, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-09-26", "end": "2026-01-16", "tenure": "Established", "return": 0.022312, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-01-23", "end": "2026-01-30", "tenure": "New", "return": 0.018441, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2026-02-06", "end": "2026-02-13", "tenure": "New", "return": 0.011839, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-02-20", "end": "2026-03-20", "tenure": "Developing", "return": -0.07627, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2026-03-27", "end": "2026-06-12", "tenure": "Developing", "return": 0.034314, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-06-19", "end": "2026-07-03", "tenure": "New", "return": 0.050349, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-07-10", "end": "2026-08-07", "tenure": "Developing", "return": 0.004749, "active": true } ], "chart_path": [ { "date": "2023-08-18", "close": 23.280715, "volume": 521389, "typical_volume": 584480.2, "trend": 24.164076, "fair_value": 22.850296, "relative_strength": -17.206841, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -41.329451, "energy": 34.155604, "activity_lines": [ 23.866502, 23.961171, 24.124391, 24.174944 ] }, { "date": "2023-08-25", "close": 23.157687, "volume": 166447, "typical_volume": 578019.2, "trend": 24.142212, "fair_value": 22.877736, "relative_strength": -18.642881, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -74.262803, "energy": 72.189588, "activity_lines": [ 23.567501, 23.807035, 24.014306, 24.110015 ] }, { "date": "2023-09-01", "close": 22.848067, "volume": 319810, "typical_volume": 557824.75, "trend": 24.106408, "fair_value": 22.904496, "relative_strength": -22.219954, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -80.302469, "energy": 83.916989, "activity_lines": [ 23.247859, 23.616168, 23.881407, 24.026522 ] }, { "date": "2023-09-08", "close": 22.638619, "volume": 51980392, "typical_volume": 3144577.2, "trend": 24.066035, "fair_value": 22.931286, "relative_strength": -21.54693, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -83.013401, "energy": 91.167445, "activity_lines": [ 22.968892, 23.407794, 23.736584, 23.931826 ] }, { "date": "2023-09-15", "close": 22.911813, "volume": 2519346, "typical_volume": 3255404.3, "trend": 24.02934, "fair_value": 22.960352, "relative_strength": -19.84679, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -67.198967, "energy": 85.583028, "activity_lines": [ 22.883589, 23.27161, 23.627794, 23.85736 ] }, { "date": "2023-09-22", "close": 22.599917, "volume": 1098780, "typical_volume": 3297087.4, "trend": 23.977725, "fair_value": 22.990375, "relative_strength": -17.793605, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -75.321891, "energy": 87.889932, "activity_lines": [ 22.761101, 23.094446, 23.499912, 23.765139 ] }, { "date": "2023-09-29", "close": 22.160084, "volume": 1806073, "typical_volume": 3363135.9, "trend": 23.915671, "fair_value": 23.014549, "relative_strength": -19.021022, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -84.635742, "energy": 91.216042, "activity_lines": [ 22.537389, 22.861197, 23.343104, 23.647872 ] }, { "date": "2023-10-06", "close": 21.009032, "volume": 829790, "typical_volume": 3374680.45, "trend": 23.838772, "fair_value": 23.027883, "relative_strength": -24.081891, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -94.495522, "energy": 93.001153, "activity_lines": [ 21.996499, 22.459322, 23.090562, 23.460347 ] }, { "date": "2023-10-13", "close": 20.494335, "volume": 657034, "typical_volume": 3381081.6, "trend": 23.745, "fair_value": 23.034863, "relative_strength": -25.452995, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -93.181026, "energy": 95.812715, "activity_lines": [ 21.406647, 22.027436, 22.806301, 23.244577 ] }, { "date": "2023-10-20", "close": 20.634707, "volume": 393836, "typical_volume": 3366996.3, "trend": 23.636826, "fair_value": 23.04244, "relative_strength": -22.144261, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -82.201937, "energy": 93.151404, "activity_lines": [ 21.006537, 21.688041, 22.552177, 23.043913 ] }, { "date": "2023-10-27", "close": 20.700214, "volume": 283606, "typical_volume": 3311106.35, "trend": 23.514208, "fair_value": 23.056704, "relative_strength": -19.204714, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -72.84091, "energy": 89.366723, "activity_lines": [ 20.78007, 21.420171, 22.321517, 22.854454 ] }, { "date": "2023-11-03", "close": 21.673461, "volume": 423053, "typical_volume": 3293890.25, "trend": 23.41801, "fair_value": 23.073065, "relative_strength": -19.864324, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -67.612258, "energy": 66.904448, "activity_lines": [ 21.004666, 21.376174, 22.198948, 22.735696 ] }, { "date": "2023-11-10", "close": 21.607954, "volume": 364582, "typical_volume": 3293763.4, "trend": 23.32051, "fair_value": 23.085716, "relative_strength": -21.804848, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -64.061337, "energy": 59.903518, "activity_lines": [ 21.239867, 21.347252, 22.082331, 22.618918 ] }, { "date": "2023-11-17", "close": 21.877843, "volume": 256501, "typical_volume": 3287510.45, "trend": 23.225054, "fair_value": 23.10034, "relative_strength": -21.781337, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -48.642183, "energy": 42.548884, "activity_lines": [ 21.525103, 21.389948, 22.002712, 22.525843 ] }, { "date": "2023-11-24", "close": 22.196862, "volume": 162160, "typical_volume": 3270140.05, "trend": 23.126929, "fair_value": 23.115186, "relative_strength": -20.690542, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -38.784046, "energy": 31.109165, "activity_lines": [ 21.824445, 21.50448, 21.962995, 22.459508 ] }, { "date": "2023-12-01", "close": 22.300456, "volume": 172583, "typical_volume": 3262280.3, "trend": 23.026212, "fair_value": 23.128962, "relative_strength": -19.774059, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -32.31605, "energy": 30.227738, "activity_lines": [ 22.054175, 21.650846, 21.940669, 22.406187 ] }, { "date": "2023-12-08", "close": 22.3873, "volume": 321197, "typical_volume": 3265807.6, "trend": 22.936552, "fair_value": 23.143334, "relative_strength": -19.239107, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -23.13254, "energy": 27.186068, "activity_lines": [ 22.20617, 21.818447, 21.934296, 22.364967 ] }, { "date": "2023-12-15", "close": 22.53441, "volume": 210016, "typical_volume": 3214944.55, "trend": 22.866307, "fair_value": 23.156905, "relative_strength": -20.617976, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -1.806666, "energy": 18.823675, "activity_lines": [ 22.359612, 22.008664, 21.951498, 22.339022 ] }, { "date": "2023-12-22", "close": 22.588126, "volume": 363131, "typical_volume": 3214092.8, "trend": 22.818712, "fair_value": 23.170642, "relative_strength": -20.358535, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": 0.942091, "energy": 19.387807, "activity_lines": [ 22.469196, 22.180914, 21.983203, 22.321075 ] }, { "date": "2023-12-29", "close": 22.890055, "volume": 131137, "typical_volume": 3149043.15, "trend": 22.773321, "fair_value": 23.187103, "relative_strength": -18.736583, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": 11.172164, "energy": 25.729133, "activity_lines": [ 22.632071, 22.369991, 22.051231, 22.325678 ] }, { "date": "2024-01-05", "close": 22.927797, "volume": 148411, "typical_volume": 3130394.25, "trend": 22.739769, "fair_value": 23.1997, "relative_strength": -15.163606, "stage": 4, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 31.706454, "energy": 47.161723, "activity_lines": [ 22.761314, 22.524923, 22.127728, 22.335644 ] }, { "date": "2024-01-12", "close": 22.941855, "volume": 474138, "typical_volume": 3145778.8, "trend": 22.696709, "fair_value": 23.212894, "relative_strength": -17.027383, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 32.128373, "energy": 57.459485, "activity_lines": [ 22.853419, 22.64191, 22.207244, 22.348682 ] }, { "date": "2024-01-19", "close": 22.588126, "volume": 84679, "typical_volume": 3134022.25, "trend": 22.650324, "fair_value": 23.222813, "relative_strength": -19.859502, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 25.17761, "energy": 46.151053, "activity_lines": [ 22.790645, 22.671521, 22.254099, 22.341677 ] }, { "date": "2024-01-26", "close": 22.361678, "volume": 156644, "typical_volume": 542834.85, "trend": 22.59981, "fair_value": 23.232232, "relative_strength": -20.511742, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 19.190621, "energy": 21.171226, "activity_lines": [ 22.648807, 22.642138, 22.280626, 22.323054 ] }, { "date": "2024-02-02", "close": 22.748526, "volume": 193933, "typical_volume": 426564.2, "trend": 22.56553, "fair_value": 23.239857, "relative_strength": -19.51883, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 21.727802, "energy": 18.672916, "activity_lines": [ 22.651015, 22.674295, 22.345314, 22.332649 ] }, { "date": "2024-02-09", "close": 22.086922, "volume": 151966, "typical_volume": 379223.5, "trend": 22.504643, "fair_value": 23.2388, "relative_strength": -22.628701, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": -4.204959, "energy": 12.53033, "activity_lines": [ 22.442124, 22.576129, 22.34777, 22.301771 ] }, { "date": "2024-02-16", "close": 22.154196, "volume": 178487, "typical_volume": 297844.2, "trend": 22.429911, "fair_value": 23.238061, "relative_strength": -20.550663, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": -7.451193, "energy": 15.62393, "activity_lines": [ 22.311715, 22.494077, 22.359075, 22.279162 ] }, { "date": "2024-02-23", "close": 22.503963, "volume": 96820, "typical_volume": 261195.7, "trend": 22.363195, "fair_value": 23.245412, "relative_strength": -19.685572, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 1.056594, "energy": 9.676976, "activity_lines": [ 22.350406, 22.479858, 22.40372, 22.283939 ] }, { "date": "2024-03-01", "close": 22.427725, "volume": 68609, "typical_volume": 231774.45, "trend": 22.304866, "fair_value": 23.247777, "relative_strength": -20.822649, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -1.543303, "energy": 10.769304, "activity_lines": [ 22.369296, 22.452331, 22.433985, 22.288102 ] }, { "date": "2024-03-08", "close": 22.512643, "volume": 91205, "typical_volume": 216642.9, "trend": 22.25817, "fair_value": 23.244501, "relative_strength": -18.588952, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 23.301423, "energy": 12.01293, "activity_lines": [ 22.412088, 22.44316, 22.463131, 22.301507 ] }, { "date": "2024-03-15", "close": 22.757961, "volume": 169080, "typical_volume": 210916.6, "trend": 22.240744, "fair_value": 23.244709, "relative_strength": -16.109422, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 46.937095, "energy": 31.102943, "activity_lines": [ 22.552378, 22.485454, 22.506699, 22.333752 ] }, { "date": "2024-03-22", "close": 23.271631, "volume": 199200, "typical_volume": 199723.95, "trend": 22.244543, "fair_value": 23.250794, "relative_strength": -16.070162, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 75.488269, "energy": 65.603096, "activity_lines": [ 22.819156, 22.624231, 22.589388, 22.400261 ] }, { "date": "2024-03-29", "close": 23.543428, "volume": 56825, "typical_volume": 184336.1, "trend": 22.267721, "fair_value": 23.256368, "relative_strength": -14.012571, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 83.362774, "energy": 80.859967, "activity_lines": [ 23.102037, 22.806429, 22.690352, 22.48406 ] }, { "date": "2024-04-05", "close": 23.173803, "volume": 68796, "typical_volume": 174950.85, "trend": 22.285561, "fair_value": 23.259347, "relative_strength": -14.008636, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 63.094029, "energy": 75.984361, "activity_lines": [ 23.192412, 22.904054, 22.746898, 22.542517 ] }, { "date": "2024-04-12", "close": 22.520353, "volume": 74166, "typical_volume": 170551.15, "trend": 22.272512, "fair_value": 23.256504, "relative_strength": -15.318197, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 55.644163, "energy": 60.295633, "activity_lines": [ 23.015232, 22.868103, 22.735039, 22.557665 ] }, { "date": "2024-04-19", "close": 23.031748, "volume": 33402, "typical_volume": 163592.1, "trend": 22.286906, "fair_value": 23.256967, "relative_strength": -7.786202, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 55.931427, "energy": 39.208297, "activity_lines": [ 23.008003, 22.929282, 22.770344, 22.606648 ] }, { "date": "2024-04-26", "close": 23.202214, "volume": 67827, "typical_volume": 150923.6, "trend": 22.321644, "fair_value": 23.259678, "relative_strength": -9.919468, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 60.016423, "energy": 34.541404, "activity_lines": [ 23.039344, 23.004277, 22.818401, 22.6657 ] }, { "date": "2024-05-03", "close": 23.222859, "volume": 68354, "typical_volume": 143840.5, "trend": 22.395438, "fair_value": 23.258803, "relative_strength": -10.025103, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 58.236485, "energy": 32.197534, "activity_lines": [ 23.082194, 23.06397, 22.864544, 22.723843 ] }, { "date": "2024-05-10", "close": 23.722511, "volume": 42057, "typical_volume": 127786.8, "trend": 22.503044, "fair_value": 23.261243, "relative_strength": -8.7466, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 75.395372, "energy": 52.804328, "activity_lines": [ 23.312965, 23.201438, 22.954994, 22.80946 ] }, { "date": "2024-05-17", "close": 23.601576, "volume": 72825, "typical_volume": 124871.2, "trend": 22.60194, "fair_value": 23.264768, "relative_strength": -10.532963, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 67.943846, "energy": 66.367908, "activity_lines": [ 23.466845, 23.293376, 23.028525, 22.880333 ] }, { "date": "2024-05-24", "close": 23.15221, "volume": 123761, "typical_volume": 123638.7, "trend": 22.683673, "fair_value": 23.262989, "relative_strength": -12.882273, "stage": 1, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 60.526304, "energy": 55.330458, "activity_lines": [ 23.398855, 23.283813, 23.055872, 22.915835 ] }, { "date": "2024-05-31", "close": 23.058644, "volume": 47457, "typical_volume": 102304.65, "trend": 22.729846, "fair_value": 23.258541, "relative_strength": -11.321104, "stage": 1, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 55.357463, "energy": 37.358782, "activity_lines": [ 23.291645, 23.25007, 23.073238, 22.940026 ] }, { "date": "2024-06-07", "close": 22.77605, "volume": 46315, "typical_volume": 100386.45, "trend": 22.768782, "fair_value": 23.255422, "relative_strength": -14.188733, "stage": 1, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 26.302633, "energy": 13.257835, "activity_lines": [ 23.099808, 23.168818, 23.063135, 22.943007 ] }, { "date": "2024-06-14", "close": 22.10366, "volume": 43709, "typical_volume": 94739.7, "trend": 22.77631, "fair_value": 23.255372, "relative_strength": -18.994391, "stage": 1, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "mixed", "direction": -31.989448, "energy": 29.696417, "activity_lines": [ 22.713629, 22.979266, 22.988099, 22.900096 ] }, { "date": "2024-06-21", "close": 22.463531, "volume": 49996, "typical_volume": 87542.85, "trend": 22.785199, "fair_value": 23.255246, "relative_strength": -17.294696, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -21.339208, "energy": 30.85627, "activity_lines": [ 22.55533, 22.874602, 22.948566, 22.879917 ] }, { "date": "2024-06-28", "close": 22.400091, "volume": 55782, "typical_volume": 82733.65, "trend": 22.78852, "fair_value": 23.254063, "relative_strength": -16.960107, "stage": 3, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -24.547864, "energy": 40.066258, "activity_lines": [ 22.451754, 22.759436, 22.904348, 22.855071 ] }, { "date": "2024-07-05", "close": 22.362009, "volume": 45195, "typical_volume": 76069.05, "trend": 22.787677, "fair_value": 23.253327, "relative_strength": -19.391103, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -25.613551, "energy": 49.508064, "activity_lines": [ 22.385625, 22.648832, 22.855011, 22.827554 ] }, { "date": "2024-07-12", "close": 22.581525, "volume": 38849, "typical_volume": 73170.5, "trend": 22.789247, "fair_value": 23.257066, "relative_strength": -17.874201, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -21.720966, "energy": 36.294005, "activity_lines": [ 22.43911, 22.593416, 22.825592, 22.814254 ] }, { "date": "2024-07-19", "close": 22.886939, "volume": 38701, "typical_volume": 71675.1, "trend": 22.799208, "fair_value": 23.263385, "relative_strength": -12.814006, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -1.628875, "energy": 9.823717, "activity_lines": [ 22.607369, 22.60519, 22.82489, 22.820557 ] }, { "date": "2024-07-26", "close": 23.125543, "volume": 23439, "typical_volume": 68286.8, "trend": 22.807057, "fair_value": 23.270996, "relative_strength": -9.114871, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 17.430305, "energy": 11.55169, "activity_lines": [ 22.802944, 22.675539, 22.844725, 22.841611 ] }, { "date": "2024-08-02", "close": 23.612965, "volume": 35336, "typical_volume": 61599.6, "trend": 22.829896, "fair_value": 23.283298, "relative_strength": -3.827334, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 55.422674, "energy": 36.493099, "activity_lines": [ 23.116858, 22.843165, 22.908064, 22.893605 ] }, { "date": "2024-08-09", "close": 23.496335, "volume": 257458, "typical_volume": 64512.5, "trend": 22.848379, "fair_value": 23.290956, "relative_strength": -4.197821, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 62.801319, "energy": 45.52036, "activity_lines": [ 23.311038, 22.981209, 22.956223, 22.936601 ] }, { "date": "2024-08-16", "close": 23.752214, "volume": 209603, "typical_volume": 72151.4, "trend": 22.887182, "fair_value": 23.303641, "relative_strength": -7.669956, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 70.694401, "energy": 68.200031, "activity_lines": [ 23.514889, 23.157818, 23.027681, 22.994913 ] }, { "date": "2024-08-23", "close": 24.17588, "volume": 49757, "typical_volume": 71199.45, "trend": 22.947655, "fair_value": 23.318986, "relative_strength": -6.541822, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 80.935083, "energy": 79.874547, "activity_lines": [ 23.781916, 23.393708, 23.138495, 23.078055 ] }, { "date": "2024-08-30", "close": 24.334218, "volume": 76585, "typical_volume": 71320.4, "trend": 23.000512, "fair_value": 23.335812, "relative_strength": -4.859116, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 80.427461, "energy": 83.463059, "activity_lines": [ 24.015792, 23.620711, 23.259616, 23.16751 ] }, { "date": "2024-09-06", "close": 24.614435, "volume": 123734, "typical_volume": 75837.0, "trend": 23.084762, "fair_value": 23.356361, "relative_strength": 2.383716, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 82.324644, "energy": 87.000374, "activity_lines": [ 24.262497, 23.86465, 23.398787, 23.271634 ] }, { "date": "2024-09-13", "close": 24.643068, "volume": 31526, "typical_volume": 74021.95, "trend": 23.167724, "fair_value": 23.374304, "relative_strength": -2.882495, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 76.679514, "energy": 86.759928, "activity_lines": [ 24.451981, 24.073534, 23.533149, 23.37217 ] }, { "date": "2024-09-20", "close": 24.561083, "volume": 31209, "typical_volume": 72164.7, "trend": 23.236295, "fair_value": 23.394696, "relative_strength": -4.196017, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 69.296757, "energy": 83.161352, "activity_lines": [ 24.537687, 24.226037, 23.652841, 23.462064 ] }, { "date": "2024-09-27", "close": 24.666756, "volume": 100013, "typical_volume": 75062.5, "trend": 23.310929, "fair_value": 23.415197, "relative_strength": -4.368332, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 70.558831, "energy": 76.992943, "activity_lines": [ 24.604694, 24.361763, 23.776225, 23.554352 ] }, { "date": "2024-10-04", "close": 24.186484, "volume": 44173, "typical_volume": 73629.9, "trend": 23.366724, "fair_value": 23.430234, "relative_strength": -6.054668, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 63.85433, "energy": 53.336809, "activity_lines": [ 24.478884, 24.377805, 23.849373, 23.61084 ] }, { "date": "2024-10-11", "close": 24.071219, "volume": 51889, "typical_volume": 70036.3, "trend": 23.410499, "fair_value": 23.443297, "relative_strength": -7.387466, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 49.593647, "energy": 39.321449, "activity_lines": [ 24.324502, 24.353601, 23.908757, 23.656291 ] }, { "date": "2024-10-18", "close": 24.272933, "volume": 35740, "typical_volume": 69450.45, "trend": 23.443876, "fair_value": 23.456306, "relative_strength": -6.496734, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 45.909356, "energy": 34.107825, "activity_lines": [ 24.273573, 24.357739, 23.982976, 23.711932 ] }, { "date": "2024-10-25", "close": 23.773451, "volume": 58964, "typical_volume": 70082.9, "trend": 23.451544, "fair_value": 23.46563, "relative_strength": -8.162142, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 37.211278, "energy": 25.712148, "activity_lines": [ 24.080825, 24.256943, 24.003843, 23.733195 ] }, { "date": "2024-11-01", "close": 23.229014, "volume": 24351, "typical_volume": 69115.0, "trend": 23.453384, "fair_value": 23.468342, "relative_strength": -8.418881, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 3.696796, "energy": 19.027368, "activity_lines": [ 23.759106, 24.056773, 23.96811, 23.718838 ] }, { "date": "2024-11-08", "close": 23.245152, "volume": 47230, "typical_volume": 68976.7, "trend": 23.477544, "fair_value": 23.471844, "relative_strength": -12.720047, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -9.499996, "energy": 25.941364, "activity_lines": [ 23.538617, 23.876752, 23.928554, 23.705404 ] }, { "date": "2024-11-15", "close": 22.736064, "volume": 111938, "typical_volume": 71784.5, "trend": 23.467688, "fair_value": 23.474803, "relative_strength": -11.239473, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -43.092248, "energy": 47.021037, "activity_lines": [ 23.211187, 23.623971, 23.836792, 23.657566 ] }, { "date": "2024-11-22", "close": 23.330736, "volume": 28134, "typical_volume": 70931.45, "trend": 23.471972, "fair_value": 23.482822, "relative_strength": -10.201626, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -24.13762, "energy": 46.036229, "activity_lines": [ 23.170991, 23.513464, 23.800066, 23.648731 ] }, { "date": "2024-11-29", "close": 23.727344, "volume": 29109, "typical_volume": 70444.45, "trend": 23.488788, "fair_value": 23.496052, "relative_strength": -9.006943, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -20.323131, "energy": 37.958391, "activity_lines": [ 23.325812, 23.498929, 23.796498, 23.665206 ] }, { "date": "2024-12-06", "close": 23.129886, "volume": 28664, "typical_volume": 69942.6, "trend": 23.469034, "fair_value": 23.502443, "relative_strength": -13.67904, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -27.784766, "energy": 31.097703, "activity_lines": [ 23.284553, 23.390924, 23.730574, 23.642051 ] }, { "date": "2024-12-13", "close": 23.256006, "volume": 47068, "typical_volume": 71124.05, "trend": 23.457515, "fair_value": 23.506776, "relative_strength": -13.474041, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -19.302023, "energy": 18.895712, "activity_lines": [ 23.291943, 23.333792, 23.675504, 23.628307 ] }, { "date": "2024-12-20", "close": 22.409815, "volume": 100929, "typical_volume": 74403.7, "trend": 23.432768, "fair_value": 23.506271, "relative_strength": -14.311751, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -50.92497, "energy": 36.686839, "activity_lines": [ 23.016545, 23.139726, 23.539224, 23.560714 ] }, { "date": "2024-12-27", "close": 22.407297, "volume": 86949, "typical_volume": 65878.25, "trend": 23.411057, "fair_value": 23.502094, "relative_strength": -14.662671, "stage": 4, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -48.917782, "energy": 60.08759, "activity_lines": [ 22.762059, 22.975409, 23.408432, 23.494554 ] }, { "date": "2025-01-03", "close": 22.228336, "volume": 43282, "typical_volume": 57562.2, "trend": 23.3928, "fair_value": 23.492372, "relative_strength": -14.193126, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -50.332781, "energy": 71.860251, "activity_lines": [ 22.509481, 22.812474, 23.265783, 23.41825 ] }, { "date": "2025-01-10", "close": 21.188659, "volume": 48757, "typical_volume": 57512.2, "trend": 23.3623, "fair_value": 23.473987, "relative_strength": -15.897921, "stage": 4, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -92.755555, "energy": 94.231843, "activity_lines": [ 22.010278, 22.4886, 23.031374, 23.276047 ] }, { "date": "2025-01-17", "close": 21.711597, "volume": 119485, "typical_volume": 59657.2, "trend": 23.337235, "fair_value": 23.462952, "relative_strength": -15.823586, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -72.63614, "energy": 87.899653, "activity_lines": [ 21.814803, 22.296904, 22.860993, 23.16955 ] }, { "date": "2025-01-24", "close": 21.634899, "volume": 32261, "typical_volume": 55083.55, "trend": 23.311729, "fair_value": 23.45109, "relative_strength": -16.975614, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -71.092121, "energy": 87.247531, "activity_lines": [ 21.696722, 22.119145, 22.695796, 23.059722 ] }, { "date": "2025-01-31", "close": 21.827805, "volume": 103872, "typical_volume": 58700.85, "trend": 23.293922, "fair_value": 23.441253, "relative_strength": -14.673029, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -66.892256, "energy": 80.185672, "activity_lines": [ 21.694604, 21.99648, 22.563159, 22.963985 ] }, { "date": "2025-02-07", "close": 21.295183, "volume": 101391, "typical_volume": 62209.95, "trend": 23.251044, "fair_value": 23.425835, "relative_strength": -16.523955, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -75.486273, "energy": 64.68737, "activity_lines": [ 21.553579, 21.804302, 22.393203, 22.835034 ] }, { "date": "2025-02-14", "close": 21.620567, "volume": 82000, "typical_volume": 61309.3, "trend": 23.208831, "fair_value": 23.412446, "relative_strength": -17.269261, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -63.16586, "energy": 56.381259, "activity_lines": [ 21.583225, 21.715505, 22.269787, 22.729842 ] }, { "date": "2025-02-21", "close": 22.612211, "volume": 42084, "typical_volume": 61204.85, "trend": 23.19172, "fair_value": 23.404534, "relative_strength": -11.178454, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -47.177114, "energy": 37.592817, "activity_lines": [ 21.914625, 21.83445, 22.255319, 22.691351 ] }, { "date": "2025-02-28", "close": 22.612211, "volume": 88229, "typical_volume": 63021.85, "trend": 23.158362, "fair_value": 23.396188, "relative_strength": -7.82342, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -39.107414, "energy": 24.412963, "activity_lines": [ 22.185985, 21.9651, 22.248348, 22.653963 ] }, { "date": "2025-03-07", "close": 23.135149, "volume": 58309, "typical_volume": 64150.3, "trend": 23.146322, "fair_value": 23.397876, "relative_strength": -2.374008, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -9.364178, "energy": 19.934035, "activity_lines": [ 22.566503, 22.187149, 22.298128, 22.652465 ] }, { "date": "2025-03-14", "close": 22.32169, "volume": 101370, "typical_volume": 66270.6, "trend": 23.098638, "fair_value": 23.39204, "relative_strength": -3.184222, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -21.62749, "energy": 23.463037, "activity_lines": [ 22.588711, 22.248064, 22.275854, 22.599263 ] }, { "date": "2025-03-21", "close": 22.185339, "volume": 44444, "typical_volume": 67275.25, "trend": 23.032287, "fair_value": 23.379802, "relative_strength": -3.771681, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -16.082122, "energy": 17.290609, "activity_lines": [ 22.497036, 22.282489, 22.247507, 22.540341 ] }, { "date": "2025-03-28", "close": 22.772939, "volume": 47324, "typical_volume": 67279.95, "trend": 22.980244, "fair_value": 23.368552, "relative_strength": 1.330252, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -5.535925, "energy": 11.560911, "activity_lines": [ 22.563575, 22.40563, 22.280092, 22.523609 ] }, { "date": "2025-04-04", "close": 22.296477, "volume": 159798, "typical_volume": 69672.95, "trend": 22.902979, "fair_value": 23.351956, "relative_strength": 10.078744, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -15.569047, "energy": 8.212196, "activity_lines": [ 22.460579, 22.422844, 22.269548, 22.479495 ] }, { "date": "2025-04-11", "close": 22.520123, "volume": 685858, "typical_volume": 102559.15, "trend": 22.832214, "fair_value": 23.33347, "relative_strength": 3.507933, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -21.293415, "energy": 9.739223, "activity_lines": [ 22.453181, 22.468692, 22.282397, 22.454794 ] }, { "date": "2025-04-18", "close": 22.627084, "volume": 137777, "typical_volume": 107992.55, "trend": 22.767748, "fair_value": 23.317389, "relative_strength": 6.622825, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -8.738942, "energy": 7.033881, "activity_lines": [ 22.522437, 22.521401, 22.309293, 22.44156 ] }, { "date": "2025-04-25", "close": 22.306201, "volume": 181135, "typical_volume": 115616.1, "trend": 22.689062, "fair_value": 23.302059, "relative_strength": -0.94218, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -23.914299, "energy": 10.839754, "activity_lines": [ 22.464374, 22.49155, 22.310868, 22.411783 ] }, { "date": "2025-05-02", "close": 22.238135, "volume": 106493, "typical_volume": 118587.35, "trend": 22.624117, "fair_value": 23.286579, "relative_strength": -4.216014, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -26.878448, "energy": 11.666418, "activity_lines": [ 22.375564, 22.436858, 22.309883, 22.382691 ] }, { "date": "2025-05-09", "close": 22.033937, "volume": 129645, "typical_volume": 120023.15, "trend": 22.556208, "fair_value": 23.270019, "relative_strength": -4.58694, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -36.318761, "energy": 17.205081, "activity_lines": [ 22.254341, 22.35184, 22.294297, 22.344614 ] }, { "date": "2025-05-16", "close": 22.335372, "volume": 111119, "typical_volume": 121231.65, "trend": 22.491623, "fair_value": 23.264903, "relative_strength": -9.142575, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -29.833358, "energy": 16.13457, "activity_lines": [ 22.2511, 22.332143, 22.30921, 22.330367 ] }, { "date": "2025-05-23", "close": 21.800568, "volume": 229437, "typical_volume": 130539.4, "trend": 22.42586, "fair_value": 23.249884, "relative_strength": -8.881951, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -52.413104, "energy": 29.372606, "activity_lines": [ 22.081907, 22.22975, 22.273531, 22.285783 ] }, { "date": "2025-05-30", "close": 22.150622, "volume": 229021, "typical_volume": 139552.6, "trend": 22.389913, "fair_value": 23.240604, "relative_strength": -8.850772, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -36.68544, "energy": 24.778963, "activity_lines": [ 22.0845, 22.200478, 22.273227, 22.268026 ] }, { "date": "2025-06-06", "close": 21.878358, "volume": 107858, "typical_volume": 138971.25, "trend": 22.344354, "fair_value": 23.232387, "relative_strength": -11.509235, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -41.849628, "energy": 31.281568, "activity_lines": [ 22.006711, 22.122335, 22.242413, 22.235022 ] }, { "date": "2025-06-13", "close": 21.820015, "volume": 115213, "typical_volume": 143118.85, "trend": 22.313819, "fair_value": 23.229984, "relative_strength": -11.066187, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -44.590294, "energy": 39.534655, "activity_lines": [ 21.933459, 22.049849, 22.205249, 22.201194 ] }, { "date": "2025-06-20", "close": 21.761673, "volume": 100415, "typical_volume": 142946.0, "trend": 22.261517, "fair_value": 23.220758, "relative_strength": -11.070559, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -53.442539, "energy": 39.797731, "activity_lines": [ 21.855021, 21.975418, 22.161646, 22.165571 ] }, { "date": "2025-06-27", "close": 21.588072, "volume": 191969, "typical_volume": 147474.9, "trend": 22.190208, "fair_value": 23.210046, "relative_strength": -15.028143, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -61.73347, "energy": 50.269509, "activity_lines": [ 21.756962, 21.883214, 22.101825, 22.122123 ] }, { "date": "2025-07-04", "close": 22.234539, "volume": 619310, "typical_volume": 174340.4, "trend": 22.160363, "fair_value": 23.203679, "relative_strength": -13.571062, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -44.604751, "energy": 28.876208, "activity_lines": [ 21.888559, 21.92744, 22.102178, 22.124983 ] }, { "date": "2025-07-11", "close": 21.823151, "volume": 162465, "typical_volume": 180359.45, "trend": 22.112601, "fair_value": 23.194618, "relative_strength": -14.629817, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -52.331788, "energy": 27.793036, "activity_lines": [ 21.877433, 21.898171, 22.060427, 22.103228 ] }, { "date": "2025-07-18", "close": 21.973699, "volume": 301907, "typical_volume": 191043.35, "trend": 22.098064, "fair_value": 23.185947, "relative_strength": -14.7926, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -37.052974, "energy": 18.674649, "activity_lines": [ 21.920169, 21.90382, 22.036771, 22.094266 ] }, { "date": "2025-07-25", "close": 22.336504, "volume": 135428, "typical_volume": 194899.3, "trend": 22.095704, "fair_value": 23.172763, "relative_strength": -13.777795, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 8.704305, "energy": 9.846847, "activity_lines": [ 22.073595, 21.976528, 22.050709, 22.10965 ] }, { "date": "2025-08-01", "close": 21.667509, "volume": 119209, "typical_volume": 195791.25, "trend": 22.07701, "fair_value": 23.155234, "relative_strength": -13.975253, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -15.284112, "energy": 8.561465, "activity_lines": [ 21.9657, 21.927581, 22.004736, 22.082024 ] }, { "date": "2025-08-08", "close": 22.126794, "volume": 74297, "typical_volume": 197283.9, "trend": 22.108281, "fair_value": 23.138924, "relative_strength": -14.809794, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -25.04865, "energy": 12.150194, "activity_lines": [ 22.005604, 21.964559, 22.00562, 22.085236 ] }, { "date": "2025-08-15", "close": 22.13845, "volume": 102767, "typical_volume": 200056.05, "trend": 22.122509, "fair_value": 23.121253, "relative_strength": -14.743965, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -22.758697, "energy": 11.910634, "activity_lines": [ 22.056577, 22.00409, 22.007892, 22.087183 ] }, { "date": "2025-08-22", "close": 22.577754, "volume": 85625, "typical_volume": 196347.4, "trend": 22.153938, "fair_value": 23.108696, "relative_strength": -11.814558, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 22.953021, "energy": 18.657221, "activity_lines": [ 22.232965, 22.118765, 22.055025, 22.116553 ] }, { "date": "2025-08-29", "close": 22.041676, "volume": 62399, "typical_volume": 165174.45, "trend": 22.161067, "fair_value": 23.097473, "relative_strength": -13.196482, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 7.682261, "energy": 11.051502, "activity_lines": [ 22.19039, 22.122194, 22.049763, 22.10931 ] }, { "date": "2025-09-05", "close": 21.923647, "volume": 296047, "typical_volume": 173087.95, "trend": 22.182016, "fair_value": 23.083998, "relative_strength": -13.873147, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -19.284823, "energy": 12.001538, "activity_lines": [ 22.128126, 22.099073, 22.035538, 22.093993 ] }, { "date": "2025-09-12", "close": 21.582881, "volume": 281530, "typical_volume": 178107.7, "trend": 22.180759, "fair_value": 23.073928, "relative_strength": -16.18417, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -43.10986, "energy": 21.520167, "activity_lines": [ 21.935199, 22.007892, 21.992209, 22.055339 ] }, { "date": "2025-09-19", "close": 21.350349, "volume": 240568, "typical_volume": 184811.45, "trend": 22.138697, "fair_value": 23.064597, "relative_strength": -18.285213, "stage": 4, "regime": "balance", "modifier": "Neutral compression", "gate": "down", "direction": -62.588096, "energy": 45.562702, "activity_lines": [ 21.701021, 21.886282, 21.930179, 22.001764 ] }, { "date": "2025-09-26", "close": 21.140186, "volume": 263051, "typical_volume": 191481.75, "trend": 22.08963, "fair_value": 23.056803, "relative_strength": -18.166369, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -68.828091, "energy": 64.091959, "activity_lines": [ 21.449329, 21.735057, 21.85236, 21.937344 ] }, { "date": "2025-10-03", "close": 21.294056, "volume": 147106, "typical_volume": 193281.1, "trend": 22.02826, "fair_value": 23.04988, "relative_strength": -18.025312, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -64.35657, "energy": 68.043951, "activity_lines": [ 21.344765, 21.626962, 21.793452, 21.886017 ] }, { "date": "2025-10-10", "close": 21.128244, "volume": 87983, "typical_volume": 186208.4, "trend": 21.988478, "fair_value": 23.038894, "relative_strength": -16.282312, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -68.362263, "energy": 71.691891, "activity_lines": [ 21.234772, 21.507674, 21.723711, 21.827951 ] }, { "date": "2025-10-17", "close": 21.574456, "volume": 43731, "typical_volume": 176943.9, "trend": 21.968116, "fair_value": 23.027768, "relative_strength": -16.042898, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -59.637568, "energy": 57.895388, "activity_lines": [ 21.326543, 21.47932, 21.699668, 21.80124 ] }, { "date": "2025-10-24", "close": 21.26573, "volume": 169124, "typical_volume": 180007.2, "trend": 21.917875, "fair_value": 23.005837, "relative_strength": -18.502478, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -60.649194, "energy": 43.489144, "activity_lines": [ 21.315967, 21.404876, 21.648966, 21.755925 ] }, { "date": "2025-10-31", "close": 20.594584, "volume": 87242, "typical_volume": 178608.65, "trend": 21.861146, "fair_value": 22.982141, "relative_strength": -22.038393, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -80.133025, "energy": 58.589821, "activity_lines": [ 21.087317, 21.224273, 21.537263, 21.670551 ] }, { "date": "2025-11-07", "close": 20.607316, "volume": 69285, "typical_volume": 177052.15, "trend": 21.797385, "fair_value": 22.959624, "relative_strength": -19.085216, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -75.283718, "energy": 63.1004, "activity_lines": [ 20.899284, 21.082043, 21.432607, 21.589659 ] }, { "date": "2025-11-14", "close": 21.036257, "volume": 88877, "typical_volume": 171897.55, "trend": 21.744358, "fair_value": 22.93749, "relative_strength": -16.842058, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -61.008564, "energy": 60.066163, "activity_lines": [ 20.900014, 21.043882, 21.3743, 21.540554 ] }, { "date": "2025-11-21", "close": 21.13456, "volume": 71402, "typical_volume": 144502.15, "trend": 21.705303, "fair_value": 22.911833, "relative_strength": -13.369754, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -58.794883, "energy": 54.835751, "activity_lines": [ 20.939645, 21.039728, 21.327983, 21.501212 ] }, { "date": "2025-11-28", "close": 21.57268, "volume": 117508, "typical_volume": 142254.3, "trend": 21.683121, "fair_value": 22.888581, "relative_strength": -15.269353, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -37.339696, "energy": 25.948957, "activity_lines": [ 21.154642, 21.123384, 21.32863, 21.492656 ] }, { "date": "2025-12-05", "close": 21.093699, "volume": 87830, "typical_volume": 131550.45, "trend": 21.65178, "fair_value": 22.865201, "relative_strength": -17.573222, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -37.522051, "energy": 19.685665, "activity_lines": [ 21.189515, 21.11591, 21.284852, 21.454629 ] }, { "date": "2025-12-12", "close": 21.435885, "volume": 64337, "typical_volume": 127995.9, "trend": 21.621797, "fair_value": 22.846379, "relative_strength": -14.248882, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -30.155025, "energy": 20.296502, "activity_lines": [ 21.305176, 21.171496, 21.277854, 21.4407 ] }, { "date": "2025-12-19", "close": 21.181527, "volume": 34517, "typical_volume": 123761.3, "trend": 21.601162, "fair_value": 22.824055, "relative_strength": -15.373468, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -28.362544, "energy": 18.786834, "activity_lines": [ 21.280813, 21.178258, 21.25092, 21.412296 ] }, { "date": "2025-12-26", "close": 20.997979, "volume": 24422, "typical_volume": 121267.55, "trend": 21.562741, "fair_value": 22.801772, "relative_strength": -16.760836, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -41.666923, "energy": 21.487361, "activity_lines": [ 21.185582, 21.150677, 21.208819, 21.37338 ] }, { "date": "2026-01-02", "close": 20.846101, "volume": 52445, "typical_volume": 118751.45, "trend": 21.528332, "fair_value": 22.777414, "relative_strength": -15.54664, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -57.478666, "energy": 31.558456, "activity_lines": [ 21.048831, 21.105965, 21.157629, 21.327146 ] }, { "date": "2026-01-09", "close": 21.024271, "volume": 54320, "typical_volume": 117186.2, "trend": 21.501808, "fair_value": 22.755531, "relative_strength": -16.326672, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -49.582437, "energy": 31.555001, "activity_lines": [ 21.019909, 21.101276, 21.129562, 21.294626 ] }, { "date": "2026-01-16", "close": 21.611864, "volume": 36477, "typical_volume": 115890.1, "trend": 21.496814, "fair_value": 22.742288, "relative_strength": -12.948179, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -18.185227, "energy": 12.534784, "activity_lines": [ 21.191479, 21.19561, 21.164853, 21.301726 ] }, { "date": "2026-01-23", "close": 21.862138, "volume": 128712, "typical_volume": 107523.35, "trend": 21.50595, "fair_value": 22.729778, "relative_strength": -11.894421, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": 5.372202, "energy": 10.872232, "activity_lines": [ 21.434743, 21.317184, 21.226027, 21.325295 ] }, { "date": "2026-01-30", "close": 22.265287, "volume": 107545, "typical_volume": 98824.1, "trend": 21.506974, "fair_value": 22.719157, "relative_strength": -9.87747, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 38.776663, "energy": 50.640147, "activity_lines": [ 21.767015, 21.497041, 21.325889, 21.374285 ] }, { "date": "2026-02-06", "close": 23.24328, "volume": 169879, "typical_volume": 95289.65, "trend": 21.554312, "fair_value": 22.715269, "relative_strength": -3.902738, "stage": 1, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 62.251682, "energy": 77.547612, "activity_lines": [ 22.340797, 21.834157, 21.515643, 21.486304 ] }, { "date": "2026-02-13", "close": 23.518453, "volume": 258449, "typical_volume": 95059.55, "trend": 21.605804, "fair_value": 22.712101, "relative_strength": -1.454018, "stage": 2, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "up", "direction": 90.267134, "energy": 95.205558, "activity_lines": [ 22.846492, 22.19093, 21.722591, 21.613023 ] }, { "date": "2026-02-20", "close": 23.222067, "volume": 118879, "typical_volume": 93648.2, "trend": 21.635323, "fair_value": 22.706163, "relative_strength": -3.560694, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 74.684019, "energy": 90.205603, "activity_lines": [ 23.087113, 22.449728, 21.889986, 21.717298 ] }, { "date": "2026-02-27", "close": 23.838044, "volume": 110029, "typical_volume": 94750.5, "trend": 21.707674, "fair_value": 22.704986, "relative_strength": -0.490282, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 84.668041, "energy": 93.928938, "activity_lines": [ 23.425713, 22.788045, 22.106864, 21.859409 ] }, { "date": "2026-03-06", "close": 22.915921, "volume": 61057, "typical_volume": 95616.8, "trend": 21.733978, "fair_value": 22.702421, "relative_strength": -2.706782, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 67.044011, "energy": 81.328091, "activity_lines": [ 23.325211, 22.910404, 22.223018, 21.937361 ] }, { "date": "2026-03-13", "close": 22.443955, "volume": 96472, "typical_volume": 91984.2, "trend": 21.744162, "fair_value": 22.696886, "relative_strength": -3.318248, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 62.513512, "energy": 52.869007, "activity_lines": [ 23.024012, 22.912079, 22.287834, 21.983166 ] }, { "date": "2026-03-20", "close": 21.450923, "volume": 83629, "typical_volume": 91803.55, "trend": 21.706601, "fair_value": 22.681315, "relative_strength": -5.301612, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 24.824184, "energy": 19.957406, "activity_lines": [ 22.44509, 22.704151, 22.252466, 21.964247 ] }, { "date": "2026-03-27", "close": 21.961, "volume": 246532, "typical_volume": 100665.9, "trend": 21.703911, "fair_value": 22.665817, "relative_strength": 0.667244, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 26.847579, "energy": 27.487034, "activity_lines": [ 22.17403, 22.581206, 22.261598, 21.98066 ] }, { "date": "2026-04-03", "close": 22.204, "volume": 13620, "typical_volume": 96903.05, "trend": 21.713256, "fair_value": 22.650718, "relative_strength": -1.380294, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 22.190529, "energy": 27.219487, "activity_lines": [ 22.06804, 22.496096, 22.287427, 22.012924 ] }, { "date": "2026-04-10", "close": 22.3096, "volume": 107157, "typical_volume": 98690.8, "trend": 21.73748, "fair_value": 22.636466, "relative_strength": -4.507861, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 20.376881, "energy": 23.996456, "activity_lines": [ 22.106187, 22.42397, 22.317753, 22.051398 ] }, { "date": "2026-04-17", "close": 21.97, "volume": 175856, "typical_volume": 101608.2, "trend": 21.758135, "fair_value": 22.6187, "relative_strength": -10.657936, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 7.428421, "energy": 12.103455, "activity_lines": [ 22.071555, 22.289293, 22.31014, 22.066399 ] }, { "date": "2026-04-24", "close": 21.913419, "volume": 21853, "typical_volume": 98309.35, "trend": 21.78391, "fair_value": 22.598013, "relative_strength": -12.168372, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 4.071289, "energy": 8.749661, "activity_lines": [ 22.04966, 22.167479, 22.295246, 22.076417 ] }, { "date": "2026-05-01", "close": 22.212883, "volume": 31634, "typical_volume": 96674.2, "trend": 21.814537, "fair_value": 22.578082, "relative_strength": -11.750377, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 10.597696, "energy": 8.616973, "activity_lines": [ 22.096753, 22.129295, 22.30497, 22.104093 ] }, { "date": "2026-05-08", "close": 22.258718, "volume": 24858, "typical_volume": 96191.25, "trend": 21.85222, "fair_value": 22.560016, "relative_strength": -15.568756, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 20.850147, "energy": 11.966295, "activity_lines": [ 22.142332, 22.117794, 22.315359, 22.13275 ] }, { "date": "2026-05-15", "close": 22.029745, "volume": 150661, "typical_volume": 102503.2, "trend": 21.867396, "fair_value": 22.543272, "relative_strength": -15.644869, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 16.821458, "energy": 9.749883, "activity_lines": [ 22.107939, 22.093377, 22.298811, 22.144203 ] }, { "date": "2026-05-22", "close": 22.215071, "volume": 95953, "typical_volume": 104678.6, "trend": 21.899041, "fair_value": 22.531728, "relative_strength": -15.425778, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 21.141011, "energy": 11.655233, "activity_lines": [ 22.153978, 22.118767, 22.295001, 22.166633 ] }, { "date": "2026-05-29", "close": 22.081147, "volume": 80315, "typical_volume": 105978.35, "trend": 21.948593, "fair_value": 22.517814, "relative_strength": -17.742196, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 18.981061, "energy": 9.785485, "activity_lines": [ 22.139038, 22.123969, 22.271916, 22.178382 ] }, { "date": "2026-06-05", "close": 22.089498, "volume": 26908, "typical_volume": 105499.9, "trend": 21.997999, "fair_value": 22.505988, "relative_strength": -13.367213, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 9.320469, "energy": 5.934311, "activity_lines": [ 22.1157, 22.119231, 22.244595, 22.187473 ] }, { "date": "2026-06-12", "close": 22.714576, "volume": 100644, "typical_volume": 104096.5, "trend": 22.053943, "fair_value": 22.49625, "relative_strength": -12.457451, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 43.330094, "energy": 21.878063, "activity_lines": [ 22.308947, 22.225807, 22.27453, 22.233704 ] }, { "date": "2026-06-19", "close": 21.879117, "volume": 44532, "typical_volume": 100945.85, "trend": 22.078762, "fair_value": 22.482785, "relative_strength": -17.3458, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 0.531951, "energy": 2.101056, "activity_lines": [ 22.193317, 22.171198, 22.220838, 22.222425 ] }, { "date": "2026-06-26", "close": 22.67, "volume": 60668, "typical_volume": 95485.3, "trend": 22.115339, "fair_value": 22.475047, "relative_strength": -9.963067, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 43.381952, "energy": 22.496908, "activity_lines": [ 22.351356, 22.268213, 22.244307, 22.260569 ] }, { "date": "2026-07-03", "close": 22.9807, "volume": 24663, "typical_volume": 83796.0, "trend": 22.178239, "fair_value": 22.469943, "relative_strength": -9.121744, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 53.053466, "energy": 43.980683, "activity_lines": [ 22.582633, 22.408991, 22.300097, 22.316399 ] }, { "date": "2026-07-10", "close": 22.6769, "volume": 22849, "typical_volume": 78994.5, "trend": 22.219606, "fair_value": 22.462016, "relative_strength": -11.522522, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 41.28236, "energy": 41.885583, "activity_lines": [ 22.652674, 22.475129, 22.329514, 22.34857 ] }, { "date": "2026-07-17", "close": 22.9819, "volume": 12704, "typical_volume": 74128.25, "trend": 22.279619, "fair_value": 22.45295, "relative_strength": -6.121551, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 54.037934, "energy": 54.896512, "activity_lines": [ 22.785221, 22.588284, 22.390575, 22.397751 ] }, { "date": "2026-07-24", "close": 22.891, "volume": 25505, "typical_volume": 72350.65, "trend": 22.342719, "fair_value": 22.442601, "relative_strength": -4.656789, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 56.92881, "energy": 55.280808, "activity_lines": [ 22.869647, 22.671763, 22.447056, 22.437195 ] }, { "date": "2026-07-31", "close": 22.9046, "volume": 18342, "typical_volume": 68444.15, "trend": 22.411336, "fair_value": 22.434441, "relative_strength": -4.809987, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 57.474408, "energy": 42.211183, "activity_lines": [ 22.891147, 22.742055, 22.50495, 22.473445 ] }, { "date": "2026-08-07", "close": 22.7846, "volume": 266134, "typical_volume": 77569.4, "trend": 22.470014, "fair_value": 22.427204, "relative_strength": -9.542525, "stage": 1, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 54.581367, "energy": 34.066649, "activity_lines": [ 22.857007, 22.777993, 22.549223, 22.497527 ] } ], "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." } } }