{
  "ticker": {
    "uuid": "3741dccf-8126-4c2d-a513-06c8f290559a",
    "symbol": "TRXA",
    "name": "INVESCO MARKETS II PLC IVZ US T",
    "exchange": "LSE",
    "country": "GB",
    "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": "^FTSE",
    "stage": 3,
    "stage_name": "Distribution",
    "phase": "3c",
    "phase_label": "Stage 3C \u00b7 Breakdown watch",
    "transition": "stage_3_to_4_watch",
    "transition_label": "Stage 3 \u2192 4 watch",
    "confidence": 59.13,
    "architecture_regime": "downward_expansion",
    "architecture_regime_label": "Downward Expansion",
    "architecture_modifier": "Early contraction",
    "architecture_gate": "down",
    "architecture_direction": -54.519,
    "architecture_energy": 55.189,
    "architecture_maturity": 2.566,
    "architecture_confidence": 88.19,
    "architecture_tenure": "New",
    "architecture": {
      "interpretation": {
        "headline": "The weekly architecture is expanding downward.",
        "body": "Trend and Activity show sustained negative alignment with weak price acceptance. Repair requires persistent improvement across the structure, not merely one strong observation."
      },
      "scores": {
        "balance": 34.47,
        "rotation_up": 11.38,
        "upward_expansion": 11.81,
        "deceleration": 38.73,
        "rotation_down": 60.82,
        "downward_expansion": 82.81
      },
      "activity_lines": [
        43.728999,
        43.856227,
        43.918988,
        44.002301
      ],
      "activity_state": "Compressed",
      "activity_direction": "Expanding",
      "rotation_direction": "Weakening",
      "price_acceptance": -0.5
    },
    "latest_close": 43.794998,
    "trend_reference": 44.106833,
    "distance_from_trend": -0.00707,
    "trend_direction": "Weakening",
    "fair_value": 42.474748,
    "distance_from_fair_value": 0.031083,
    "fair_value_direction": "Weakening",
    "relative_strength": -8.440149,
    "relative_strength_direction": "Weakening",
    "price_momentum": -0.009275,
    "excess_performance": -0.06051,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.00707,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.002006,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.031083,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.013094,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.084401,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.035133,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.009275,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.954361,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 6459,
      "relative_activity": 0.357747,
      "balance": 0.954361,
      "dry_up": 1.184113,
      "accumulation_observations": 3,
      "distribution_observations": 4
    },
    "risk": {
      "range_context": 0.008068,
      "annualized_volatility": 0.052189,
      "from_high_reference": -0.028785,
      "from_low_reference": 0.01859
    },
    "levels": {
      "trend_reference": 44.106833,
      "fair_value_reference": 42.474748,
      "structural_low": 43.305,
      "invalidation": "A decisive breakout above range resistance with renewed RS leadership invalidates the distribution reading; a range-low break confirms deterioration."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 2,
        "median_return": 0.004896,
        "positive_rate": 1.0,
        "directional_follow_through": 0.0,
        "median_excess_return": -0.001623,
        "regime_survival": 0.5,
        "best_return": 0.008085,
        "worst_return": 0.001706,
        "sufficient": false
      },
      {
        "horizon": "Intermediate",
        "sample_count": 0,
        "median_return": null,
        "positive_rate": null,
        "directional_follow_through": null,
        "median_excess_return": null,
        "regime_survival": null,
        "best_return": null,
        "worst_return": null,
        "sufficient": false
      },
      {
        "horizon": "Extended",
        "sample_count": 0,
        "median_return": null,
        "positive_rate": null,
        "directional_follow_through": null,
        "median_excess_return": null,
        "regime_survival": null,
        "best_return": null,
        "worst_return": null,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 0,
        "median_return": null,
        "positive_rate": null,
        "directional_follow_through": null,
        "median_excess_return": null,
        "regime_survival": null,
        "best_return": null,
        "worst_return": null,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-08-29",
        "end": "2025-12-26",
        "tenure": "Established",
        "return": 0.017181,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2026-01-02",
        "end": "2026-02-13",
        "tenure": "Developing",
        "return": 0.014329,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2026-02-20",
        "end": "2026-03-27",
        "tenure": "Developing",
        "return": -0.020641,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2026-04-03",
        "end": "2026-04-24",
        "tenure": "New",
        "return": 0.001528,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2026-05-01",
        "end": "2026-05-15",
        "tenure": "New",
        "return": -0.012015,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2026-05-22",
        "end": "2026-06-26",
        "tenure": "Developing",
        "return": 0.018005,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2026-07-03",
        "end": "2026-07-31",
        "tenure": "Developing",
        "return": -0.013496,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2026-08-07",
        "end": "2026-08-07",
        "tenure": "New",
        "return": 0.0,
        "active": true
      }
    ],
    "chart_path": [
      {
        "date": "2024-02-23",
        "close": 40.040001,
        "volume": 0,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2024-03-01",
        "close": 40.235001,
        "volume": 0,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2024-03-08",
        "close": 40.645,
        "volume": 0,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2024-03-15",
        "close": 40.047501,
        "volume": 0,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2024-03-22",
        "close": 40.360001,
        "volume": 0,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2024-03-29",
        "close": 40.455002,
        "volume": 1100,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2024-04-05",
        "close": 39.967499,
        "volume": 14092,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2024-04-12",
        "close": 39.564999,
        "volume": 100,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2024-04-19",
        "close": 39.307499,
        "volume": 0,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2024-04-26",
        "close": 39.197498,
        "volume": 127,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2024-05-03",
        "close": 39.68,
        "volume": 3222,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2024-05-10",
        "close": 39.75,
        "volume": 367,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2024-05-17",
        "close": 40.064999,
        "volume": 352,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2024-05-24",
        "close": 39.875,
        "volume": 0,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2024-05-31",
        "close": 39.8475,
        "volume": 0,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2024-06-07",
        "close": 40.127499,
        "volume": 0,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2024-06-14",
        "close": 40.75,
        "volume": 0,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2024-06-21",
        "close": 40.619999,
        "volume": 100,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2024-06-28",
        "close": 40.5,
        "volume": 0,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2024-07-05",
        "close": 40.717499,
        "volume": 0,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2024-07-12",
        "close": 40.994999,
        "volume": 19,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2024-07-19",
        "close": 40.919998,
        "volume": 556,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2024-07-26",
        "close": 41.0425,
        "volume": 9018,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2024-08-02",
        "close": 42.310001,
        "volume": 114738,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2024-08-09",
        "close": 41.9725,
        "volume": 5964,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2024-08-16",
        "close": 42.014999,
        "volume": 0,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2024-08-23",
        "close": 42.422501,
        "volume": 0,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2024-08-30",
        "close": 42.27,
        "volume": 33058,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2024-09-06",
        "close": 42.952499,
        "volume": 96,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2024-09-13",
        "close": 43.032501,
        "volume": 0,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2024-09-20",
        "close": 42.747501,
        "volume": 0,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2024-09-27",
        "close": 42.759998,
        "volume": 16556,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2024-10-04",
        "close": 42.162498,
        "volume": 466,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2024-10-11",
        "close": 41.855,
        "volume": 12682,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2024-10-18",
        "close": 41.904999,
        "volume": 18913,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2024-10-25",
        "close": 41.544998,
        "volume": 31313,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2024-11-01",
        "close": 41.119999,
        "volume": 2600,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2024-11-08",
        "close": 41.2575,
        "volume": 5886,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2024-11-15",
        "close": 40.817501,
        "volume": 557,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2024-11-22",
        "close": 41.002499,
        "volume": 0,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2024-11-29",
        "close": 41.634998,
        "volume": 0,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2024-12-06",
        "close": 41.797501,
        "volume": 4740,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2024-12-13",
        "close": 41.23,
        "volume": 239,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2024-12-20",
        "close": 40.8825,
        "volume": 0,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2024-12-27",
        "close": 40.68,
        "volume": 0,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2025-01-03",
        "close": 40.779999,
        "volume": 4,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2025-01-10",
        "close": 40.307499,
        "volume": 0,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2025-01-17",
        "close": 40.740002,
        "volume": 9621,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2025-01-24",
        "close": 40.787498,
        "volume": 42,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2025-01-31",
        "close": 41.112499,
        "volume": 32854,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2025-02-07",
        "close": 41.2075,
        "volume": 150,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2025-02-14",
        "close": 41.349998,
        "volume": 2121,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2025-02-21",
        "close": 41.362499,
        "volume": 200,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2025-02-28",
        "close": 42.112499,
        "volume": 513,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2025-03-07",
        "close": 42.0975,
        "volume": 30,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2025-03-14",
        "close": 41.98,
        "volume": 28635,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2025-03-21",
        "close": 42.185001,
        "volume": 3131,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2025-03-28",
        "close": 42.162498,
        "volume": 894,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2025-04-04",
        "close": 43.259998,
        "volume": 23148,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2025-04-11",
        "close": 41.442501,
        "volume": 61821,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2025-04-18",
        "close": 42.2425,
        "volume": 6,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2025-04-25",
        "close": 42.327499,
        "volume": 0,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2025-05-02",
        "close": 42.302502,
        "volume": 138,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2025-05-09",
        "close": 42.209999,
        "volume": 0,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2025-05-16",
        "close": 42.017502,
        "volume": 834,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2025-05-23",
        "close": 41.860001,
        "volume": 64,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2025-05-30",
        "close": 42.200001,
        "volume": 0,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2025-06-06",
        "close": 42.017502,
        "volume": 30561,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2025-06-13",
        "close": 42.240002,
        "volume": 0,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2025-06-20",
        "close": 42.369999,
        "volume": 32975,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2025-06-27",
        "close": 42.785,
        "volume": 55728,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2025-07-04",
        "close": 42.642502,
        "volume": 12136,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2025-07-11",
        "close": 42.452499,
        "volume": 4693,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2025-07-18",
        "close": 42.477501,
        "volume": 117994,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2025-07-25",
        "close": 42.549999,
        "volume": 5158,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2025-08-01",
        "close": 43.1175,
        "volume": 24971,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2025-08-08",
        "close": 43.044998,
        "volume": 22374,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2025-08-15",
        "close": 43.055,
        "volume": 37184,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2025-08-22",
        "close": 43.310001,
        "volume": 8732,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2025-08-29",
        "close": 43.362499,
        "volume": 72636,
        "typical_volume": 21309.2,
        "trend": 42.324833,
        "fair_value": 41.481937,
        "relative_strength": -4.00089,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 78.120431,
        "energy": 86.891777,
        "activity_lines": [
          43.228333,
          43.0175,
          42.729667,
          42.568285
        ]
      },
      {
        "date": "2025-09-05",
        "close": 43.955002,
        "volume": 6754,
        "typical_volume": 21646.6,
        "trend": 42.416417,
        "fair_value": 41.512469,
        "relative_strength": -2.728744,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 93.451574,
        "energy": 95.415893,
        "activity_lines": [
          43.487334,
          43.213,
          42.865453,
          42.673457
        ]
      },
      {
        "date": "2025-09-12",
        "close": 43.8825,
        "volume": 8336,
        "typical_volume": 22063.4,
        "trend": 42.500833,
        "fair_value": 41.541372,
        "relative_strength": -3.495361,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 84.487287,
        "energy": 93.382216,
        "activity_lines": [
          43.666334,
          43.374046,
          42.986179,
          42.768043
        ]
      },
      {
        "date": "2025-09-19",
        "close": 43.740002,
        "volume": 4401,
        "typical_volume": 22276.55,
        "trend": 42.580084,
        "fair_value": 41.567861,
        "relative_strength": -2.942808,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 67.984043,
        "energy": 86.770056,
        "activity_lines": [
          43.742001,
          43.486637,
          43.085929,
          42.84799
        ]
      },
      {
        "date": "2025-09-26",
        "close": 43.612499,
        "volume": 5317,
        "typical_volume": 22542.4,
        "trend": 42.630084,
        "fair_value": 41.592202,
        "relative_strength": -3.768339,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 66.633575,
        "energy": 85.030552,
        "activity_lines": [
          43.7295,
          43.552637,
          43.166691,
          42.914597
        ]
      },
      {
        "date": "2025-10-03",
        "close": 43.872501,
        "volume": 8588,
        "typical_volume": 22930.1,
        "trend": 42.68925,
        "fair_value": 41.619029,
        "relative_strength": -5.125382,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 73.041579,
        "energy": 74.833812,
        "activity_lines": [
          43.783501,
          43.645273,
          43.265536,
          42.994753
        ]
      },
      {
        "date": "2025-10-10",
        "close": 44.012501,
        "volume": 7687,
        "typical_volume": 23311.25,
        "trend": 42.757,
        "fair_value": 41.64686,
        "relative_strength": -4.026037,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 77.881023,
        "energy": 68.623153,
        "activity_lines": [
          43.850167,
          43.739319,
          43.368881,
          43.080124
        ]
      },
      {
        "date": "2025-10-17",
        "close": 44.294998,
        "volume": 5891,
        "typical_volume": 23605.8,
        "trend": 42.827334,
        "fair_value": 41.677299,
        "relative_strength": -2.550012,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 85.168331,
        "energy": 71.864053,
        "activity_lines": [
          44.007166,
          43.868455,
          43.488881,
          43.17935
        ]
      },
      {
        "date": "2025-10-24",
        "close": 44.3125,
        "volume": 7977,
        "typical_volume": 22476.6,
        "trend": 42.899,
        "fair_value": 41.707244,
        "relative_strength": -5.286812,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 79.578562,
        "energy": 79.424796,
        "activity_lines": [
          44.1425,
          43.978046,
          43.600572,
          43.275167
        ]
      },
      {
        "date": "2025-10-31",
        "close": 44.055,
        "volume": 11196,
        "typical_volume": 23036.4,
        "trend": 42.9255,
        "fair_value": 41.733623,
        "relative_strength": -6.348207,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 66.383023,
        "energy": 77.657081,
        "activity_lines": [
          44.153833,
          44.017955,
          43.67681,
          43.349748
        ]
      },
      {
        "date": "2025-11-07",
        "close": 44.16,
        "volume": 12442,
        "typical_volume": 22009.75,
        "trend": 43.016084,
        "fair_value": 41.760583,
        "relative_strength": -5.582216,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 65.966899,
        "energy": 67.837456,
        "activity_lines": [
          44.170666,
          44.063409,
          43.754405,
          43.429393
        ]
      },
      {
        "date": "2025-11-14",
        "close": 44.044998,
        "volume": 1360,
        "typical_volume": 19291.35,
        "trend": 43.076167,
        "fair_value": 41.785687,
        "relative_strength": -5.786305,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 63.191444,
        "energy": 62.044148,
        "activity_lines": [
          44.129999,
          44.073454,
          43.812524,
          43.495774
        ]
      },
      {
        "date": "2025-11-21",
        "close": 44.2925,
        "volume": 8820,
        "typical_volume": 19125.55,
        "trend": 43.141667,
        "fair_value": 41.812935,
        "relative_strength": -3.557739,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 72.490164,
        "energy": 62.362971,
        "activity_lines": [
          44.169666,
          44.126863,
          43.888214,
          43.574247
        ]
      },
      {
        "date": "2025-11-28",
        "close": 44.435001,
        "volume": 30494,
        "typical_volume": 20415.6,
        "trend": 43.21275,
        "fair_value": 41.841129,
        "relative_strength": -4.875028,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 77.119781,
        "energy": 65.388006,
        "activity_lines": [
          44.257,
          44.198727,
          43.969619,
          43.657688
        ]
      },
      {
        "date": "2025-12-05",
        "close": 44.142502,
        "volume": 8825,
        "typical_volume": 14957.15,
        "trend": 43.277167,
        "fair_value": 41.865612,
        "relative_strength": -4.801325,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 60.786226,
        "energy": 58.187545,
        "activity_lines": [
          44.238667,
          44.204773,
          44.013726,
          43.717672
        ]
      },
      {
        "date": "2025-12-12",
        "close": 44.012501,
        "volume": 2548,
        "typical_volume": 14826.65,
        "trend": 43.343667,
        "fair_value": 41.88821,
        "relative_strength": -4.7496,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 49.889078,
        "energy": 48.23104,
        "activity_lines": [
          44.171168,
          44.177546,
          44.037524,
          43.765113
        ]
      },
      {
        "date": "2025-12-19",
        "close": 44.209999,
        "volume": 26843,
        "typical_volume": 14920.25,
        "trend": 43.422,
        "fair_value": 41.912396,
        "relative_strength": -6.501931,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 51.991603,
        "energy": 44.935309,
        "activity_lines": [
          44.179334,
          44.183682,
          44.073167,
          43.821006
        ]
      },
      {
        "date": "2025-12-26",
        "close": 44.107498,
        "volume": 650,
        "typical_volume": 13834.05,
        "trend": 43.485583,
        "fair_value": 41.935026,
        "relative_strength": -6.269053,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 44.058863,
        "energy": 32.226974,
        "activity_lines": [
          44.142333,
          44.167591,
          44.093845,
          43.865231
        ]
      },
      {
        "date": "2026-01-02",
        "close": 44.142502,
        "volume": 8122,
        "typical_volume": 12380.95,
        "trend": 43.556417,
        "fair_value": 41.957551,
        "relative_strength": -6.755955,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 40.488918,
        "energy": 27.867939,
        "activity_lines": [
          44.129334,
          44.161273,
          44.112798,
          43.907613
        ]
      },
      {
        "date": "2026-01-09",
        "close": 44.197498,
        "volume": 21228,
        "typical_volume": 13005.75,
        "trend": 43.621667,
        "fair_value": 41.980177,
        "relative_strength": -8.045882,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 44.584724,
        "energy": 31.651455,
        "activity_lines": [
          44.154166,
          44.168045,
          44.131809,
          43.948973
        ]
      },
      {
        "date": "2026-01-16",
        "close": 44.107498,
        "volume": 8939,
        "typical_volume": 9820.9,
        "trend": 43.679583,
        "fair_value": 42.00145,
        "relative_strength": -9.048546,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 38.809164,
        "energy": 25.566946,
        "activity_lines": [
          44.145332,
          44.155863,
          44.138024,
          43.980317
        ]
      },
      {
        "date": "2026-01-23",
        "close": 44.012501,
        "volume": 17903,
        "typical_volume": 10378.35,
        "trend": 43.7205,
        "fair_value": 42.021361,
        "relative_strength": -8.25158,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 25.348962,
        "energy": 16.323975,
        "activity_lines": [
          44.0985,
          44.127363,
          44.131643,
          44.001796
        ]
      },
      {
        "date": "2026-01-30",
        "close": 44.055,
        "volume": 28153,
        "typical_volume": 11369.2,
        "trend": 43.767583,
        "fair_value": 42.041299,
        "relative_strength": -8.722711,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 21.07899,
        "energy": 12.292854,
        "activity_lines": [
          44.079,
          44.107182,
          44.129036,
          44.023376
        ]
      },
      {
        "date": "2026-02-06",
        "close": 44.205002,
        "volume": 122526,
        "typical_volume": 17275.45,
        "trend": 43.826,
        "fair_value": 42.062306,
        "relative_strength": -9.529624,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 29.055036,
        "energy": 14.096562,
        "activity_lines": [
          44.113,
          44.118591,
          44.139893,
          44.051597
        ]
      },
      {
        "date": "2026-02-13",
        "close": 44.775002,
        "volume": 8534,
        "typical_volume": 17436.3,
        "trend": 43.902583,
        "fair_value": 42.088389,
        "relative_strength": -8.867997,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Re-acceleration watch",
        "gate": "up",
        "direction": 79.779752,
        "energy": 50.283341,
        "activity_lines": [
          44.332835,
          44.237819,
          44.202822,
          44.112823
        ]
      },
      {
        "date": "2026-02-20",
        "close": 44.692501,
        "volume": 4505,
        "typical_volume": 17232.15,
        "trend": 43.974,
        "fair_value": 42.11319,
        "relative_strength": -10.866279,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 77.121028,
        "energy": 75.776972,
        "activity_lines": [
          44.486668,
          44.330546,
          44.252357,
          44.163785
        ]
      },
      {
        "date": "2026-02-27",
        "close": 45.099998,
        "volume": 43328,
        "typical_volume": 19014.2,
        "trend": 44.040083,
        "fair_value": 42.141368,
        "relative_strength": -11.663608,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 89.480965,
        "energy": 91.211796,
        "activity_lines": [
          44.737334,
          44.485,
          44.336798,
          44.23643
        ]
      },
      {
        "date": "2026-03-06",
        "close": 44.584999,
        "volume": 7537,
        "typical_volume": 19096.5,
        "trend": 44.091417,
        "fair_value": 42.164205,
        "relative_strength": -7.162219,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 64.968288,
        "energy": 80.462211,
        "activity_lines": [
          44.743833,
          44.529636,
          44.367012,
          44.271586
        ]
      },
      {
        "date": "2026-03-13",
        "close": 44.169998,
        "volume": 14165,
        "typical_volume": 19405.9,
        "trend": 44.128583,
        "fair_value": 42.182778,
        "relative_strength": -7.60228,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 50.014343,
        "energy": 50.803792,
        "activity_lines": [
          44.576666,
          44.490136,
          44.356321,
          44.276656
        ]
      },
      {
        "date": "2026-03-20",
        "close": 43.895,
        "volume": 38514,
        "typical_volume": 20771.8,
        "trend": 44.148083,
        "fair_value": 42.198486,
        "relative_strength": -4.825026,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 11.132627,
        "energy": 9.300189,
        "activity_lines": [
          44.320166,
          44.400136,
          44.320119,
          44.261586
        ]
      },
      {
        "date": "2026-03-27",
        "close": 43.77,
        "volume": 46502,
        "typical_volume": 22474.8,
        "trend": 44.161667,
        "fair_value": 42.212773,
        "relative_strength": -5.376529,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "mixed",
        "direction": -22.874581,
        "energy": 30.356759,
        "activity_lines": [
          44.080666,
          44.292909,
          44.272774,
          44.237193
        ]
      },
      {
        "date": "2026-04-03",
        "close": 44.189999,
        "volume": 15498,
        "typical_volume": 23181.7,
        "trend": 44.1695,
        "fair_value": 42.230585,
        "relative_strength": -8.329105,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "mixed",
        "direction": -7.333269,
        "energy": 26.640716,
        "activity_lines": [
          44.042666,
          44.268181,
          44.267285,
          44.239021
        ]
      },
      {
        "date": "2026-04-10",
        "close": 44.255001,
        "volume": 15871,
        "typical_volume": 23534.25,
        "trend": 44.181917,
        "fair_value": 42.248661,
        "relative_strength": -9.227511,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "mixed",
        "direction": -15.487017,
        "energy": 25.031328,
        "activity_lines": [
          44.087,
          44.252045,
          44.267297,
          44.244538
        ]
      },
      {
        "date": "2026-04-17",
        "close": 44.482498,
        "volume": 29966,
        "typical_volume": 23507.85,
        "trend": 44.206666,
        "fair_value": 42.268429,
        "relative_strength": -8.979112,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 23.646438,
        "energy": 14.643744,
        "activity_lines": [
          44.229166,
          44.273636,
          44.289154,
          44.26393
        ]
      },
      {
        "date": "2026-04-24",
        "close": 44.2575,
        "volume": 9789,
        "typical_volume": 23556.05,
        "trend": 44.228167,
        "fair_value": 42.285877,
        "relative_strength": -6.622118,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 26.837164,
        "energy": 14.451866,
        "activity_lines": [
          44.2755,
          44.249272,
          44.289357,
          44.267209
        ]
      },
      {
        "date": "2026-05-01",
        "close": 44.110001,
        "volume": 14841,
        "typical_volume": 24170.7,
        "trend": 44.236083,
        "fair_value": 42.301739,
        "relative_strength": -6.535152,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": 1.228562,
        "energy": 5.50618,
        "activity_lines": [
          44.2485,
          44.2075,
          44.274964,
          44.259586
        ]
      },
      {
        "date": "2026-05-08",
        "close": 44.1875,
        "volume": 18669,
        "typical_volume": 23762.0,
        "trend": 44.241917,
        "fair_value": 42.317996,
        "relative_strength": -4.926844,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": 5.69809,
        "energy": 5.6541,
        "activity_lines": [
          44.224667,
          44.190409,
          44.267488,
          44.256451
        ]
      },
      {
        "date": "2026-05-15",
        "close": 43.580002,
        "volume": 1218,
        "typical_volume": 23790.4,
        "trend": 44.218083,
        "fair_value": 42.328782,
        "relative_strength": -5.662054,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "down",
        "direction": -73.44111,
        "energy": 56.534082,
        "activity_lines": [
          43.998501,
          44.079455,
          44.202262,
          44.213747
        ]
      },
      {
        "date": "2026-05-22",
        "close": 43.599998,
        "volume": 40243,
        "typical_volume": 25396.45,
        "trend": 44.194333,
        "fair_value": 42.339555,
        "relative_strength": -7.81287,
        "stage": 3,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -71.215133,
        "energy": 68.4269,
        "activity_lines": [
          43.824,
          43.990409,
          44.141452,
          44.173871
        ]
      },
      {
        "date": "2026-05-29",
        "close": 44.09,
        "volume": 33979,
        "typical_volume": 26034.0,
        "trend": 44.1955,
        "fair_value": 42.354265,
        "relative_strength": -6.036444,
        "stage": 3,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -56.951311,
        "energy": 58.473013,
        "activity_lines": [
          43.871667,
          44.000818,
          44.129893,
          44.16714
        ]
      },
      {
        "date": "2026-06-05",
        "close": 43.7575,
        "volume": 25323,
        "typical_volume": 26853.2,
        "trend": 44.182083,
        "fair_value": 42.365958,
        "relative_strength": -6.160774,
        "stage": 3,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -64.056394,
        "energy": 64.400028,
        "activity_lines": [
          43.819667,
          43.947227,
          44.087178,
          44.138882
        ]
      },
      {
        "date": "2026-06-12",
        "close": 43.982498,
        "volume": 0,
        "typical_volume": 25958.05,
        "trend": 44.18,
        "fair_value": 42.379318,
        "relative_strength": -6.382277,
        "stage": 3,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -55.040755,
        "energy": 42.752962,
        "activity_lines": [
          43.866166,
          43.934772,
          44.067559,
          44.126005
        ]
      },
      {
        "date": "2026-06-19",
        "close": 43.952499,
        "volume": 0,
        "typical_volume": 24550.4,
        "trend": 44.168667,
        "fair_value": 42.392213,
        "relative_strength": -5.228902,
        "stage": 3,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -49.946975,
        "energy": 26.56734,
        "activity_lines": [
          43.916332,
          43.920636,
          44.045226,
          44.111328
        ]
      },
      {
        "date": "2026-06-26",
        "close": 44.384998,
        "volume": 0,
        "typical_volume": 18424.1,
        "trend": 44.167,
        "fair_value": 42.408414,
        "relative_strength": -5.354494,
        "stage": 3,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -12.712335,
        "energy": 10.665576,
        "activity_lines": [
          44.085832,
          43.990636,
          44.064571,
          44.125285
        ]
      },
      {
        "date": "2026-07-03",
        "close": 44.087502,
        "volume": 0,
        "typical_volume": 17997.4,
        "trend": 44.165166,
        "fair_value": 42.421955,
        "relative_strength": -7.212473,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -25.41506,
        "energy": 19.415907,
        "activity_lines": [
          44.103833,
          44.008318,
          44.054726,
          44.120156
        ]
      },
      {
        "date": "2026-07-10",
        "close": 43.939999,
        "volume": 23679,
        "typical_volume": 18956.1,
        "trend": 44.16275,
        "fair_value": 42.4341,
        "relative_strength": -5.693054,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -32.525136,
        "energy": 19.692528,
        "activity_lines": [
          44.072833,
          44.002272,
          44.034107,
          44.105629
        ]
      },
      {
        "date": "2026-07-17",
        "close": 44.0275,
        "volume": 21846,
        "typical_volume": 17882.0,
        "trend": 44.156666,
        "fair_value": 42.446746,
        "relative_strength": -6.19245,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -26.035914,
        "energy": 16.48101,
        "activity_lines": [
          44.058833,
          44.015227,
          44.025404,
          44.096903
        ]
      },
      {
        "date": "2026-07-24",
        "close": 43.665001,
        "volume": 19126,
        "typical_volume": 18461.45,
        "trend": 44.141917,
        "fair_value": 42.456338,
        "relative_strength": -7.902247,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -62.167126,
        "energy": 33.294043,
        "activity_lines": [
          43.921,
          43.965182,
          43.987285,
          44.065183
        ]
      },
      {
        "date": "2026-07-31",
        "close": 43.4925,
        "volume": 38084,
        "typical_volume": 19657.4,
        "trend": 44.12025,
        "fair_value": 42.464433,
        "relative_strength": -9.08137,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -69.79679,
        "energy": 61.11309,
        "activity_lines": [
          43.744834,
          43.882227,
          43.937119,
          44.023285
        ]
      },
      {
        "date": "2026-08-07",
        "close": 43.794998,
        "volume": 6459,
        "typical_volume": 18054.65,
        "trend": 44.106833,
        "fair_value": 42.474748,
        "relative_strength": -8.440149,
        "stage": 3,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -54.519208,
        "energy": 55.188835,
        "activity_lines": [
          43.728999,
          43.856227,
          43.918988,
          44.002301
        ]
      }
    ],
    "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."
    }
  }
}