{ "ticker": { "uuid": "3a3fd4b4-ab11-4261-acb2-e1fac0ed7c87", "symbol": "MMK", "name": "Mayr-Melnhof Karton AG", "exchange": "VIE", "country": "AT", "assetType": "equity" }, "methodBoundary": "Trend Architecture is a weekly structural classification, not a forecast, probability of return, recommendation or execution signal. Confidence measures geometric agreement and external confirmation only.", "analysis": { "eligible": true, "as_of": "2026-08-07", "benchmark": "^ATX", "stage": 1, "stage_name": "Basing", "phase": "1b", "phase_label": "Stage 1B \u00b7 Basing", "transition": "stage_1_building", "transition_label": "Base still building", "confidence": 60.214, "architecture_regime": "downward_expansion", "architecture_regime_label": "Downward Expansion", "architecture_modifier": "Established contraction", "architecture_gate": "down", "architecture_direction": 9.723, "architecture_energy": 21.439, "architecture_maturity": 60.118, "architecture_confidence": 49.987, "architecture_tenure": "Developing", "architecture": { "interpretation": { "headline": "The weekly architecture is expanding downward.", "body": "Trend and Activity show sustained negative alignment with weak price acceptance. Repair requires persistent improvement across the structure, not merely one strong observation." }, "scores": { "balance": 53.05, "rotation_up": 43.57, "upward_expansion": 33.29, "deceleration": 45.56, "rotation_down": 17.03, "downward_expansion": 43.96 }, "activity_lines": [ 83.453334, 81.536364, 80.924316, 82.396004 ], "activity_state": "Moderate", "activity_direction": "Contracting", "rotation_direction": "Improving", "price_acceptance": 0.166667 }, "latest_close": 86.800003, "trend_reference": 85.078185, "distance_from_trend": 0.020238, "trend_direction": "Weakening", "fair_value": 89.952289, "distance_from_fair_value": -0.035044, "fair_value_direction": "Improving", "relative_strength": -14.585706, "relative_strength_direction": "Improving", "price_momentum": -0.080964, "excess_performance": -0.255211, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.020238, "read": "Above" }, { "label": "Trend direction", "positive": false, "value": -0.002342, "read": "Falling" }, { "label": "Price vs current Fair Value", "positive": false, "value": -0.035044, "read": "Below anchor" }, { "label": "Fair Value direction", "positive": true, "value": 0.124608, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.145857, "read": "Lagging" }, { "label": "Relative strength direction", "positive": true, "value": 0.028075, "read": "Improving" }, { "label": "Price momentum", "positive": false, "value": -0.080964, "read": "Negative" }, { "label": "Volume balance", "positive": false, "value": 0.638667, "read": "Supply-led" } ], "volume": { "latest": 62204, "relative_activity": 0.802577, "balance": 0.638667, "dry_up": 1.122562, "accumulation_observations": 2, "distribution_observations": 2 }, "risk": { "range_context": 0.050869, "annualized_volatility": 0.321261, "from_high_reference": -0.130327, "from_low_reference": 0.277684 }, "levels": { "trend_reference": 85.078185, "fair_value_reference": 89.952289, "structural_low": 74.660758, "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": 30, "median_return": -0.017402, "positive_rate": 0.466667, "directional_follow_through": 0.533333, "median_excess_return": -0.024035, "regime_survival": 0.8, "best_return": 0.132018, "worst_return": -0.123305, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 11, "median_return": -0.045752, "positive_rate": 0.454545, "directional_follow_through": 0.545455, "median_excess_return": -0.032813, "regime_survival": 0.454545, "best_return": 0.132597, "worst_return": -0.230839, "sufficient": true }, { "horizon": "Extended", "sample_count": 7, "median_return": -0.010576, "positive_rate": 0.428571, "directional_follow_through": 0.571429, "median_excess_return": -0.114843, "regime_survival": 0.714286, "best_return": 0.085619, "worst_return": -0.381356, "sufficient": true }, { "horizon": "Full cycle", "sample_count": 4, "median_return": -0.173724, "positive_rate": 0.25, "directional_follow_through": 0.75, "median_excess_return": -0.269296, "regime_survival": 0.75, "best_return": 0.00686, "worst_return": -0.226809, "sufficient": false } ], "ledger": [ { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-02-14", "end": "2025-02-21", "tenure": "New", "return": -0.009615, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2025-02-28", "end": "2025-03-28", "tenure": "Developing", "return": -0.038005, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2025-04-04", "end": "2025-04-18", "tenure": "New", "return": 0.105114, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-04-25", "end": "2025-08-22", "tenure": "Established", "return": 0.059696, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2025-08-29", "end": "2025-09-12", "tenure": "New", "return": 0.013682, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-09-19", "end": "2025-10-03", "tenure": "New", "return": 0.05799, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2025-10-10", "end": "2025-10-17", "tenure": "New", "return": 0.030341, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-10-24", "end": "2025-11-14", "tenure": "New", "return": -0.110036, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2025-11-21", "end": "2025-11-28", "tenure": "New", "return": 0.104636, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-12-05", "end": "2025-12-12", "tenure": "New", "return": 0.009768, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-12-19", "end": "2026-03-13", "tenure": "Established", "return": 0.060116, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2026-03-20", "end": "2026-05-08", "tenure": "Developing", "return": -0.016411, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2026-05-15", "end": "2026-06-05", "tenure": "New", "return": -0.034221, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2026-06-12", "end": "2026-08-07", "tenure": "Developing", "return": 0.085, "active": true } ], "chart_path": [ { "date": "2023-08-18", "close": 119.326195, "volume": 27895, "typical_volume": 22505.1, "trend": 133.342323, "fair_value": 143.73128, "relative_strength": -10.412662, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -67.948276, "energy": 40.069759, "activity_lines": [ 123.37263, 124.471649, 126.922139, 129.58868 ] }, { "date": "2023-08-25", "close": 122.14492, "volume": 18950, "typical_volume": 22425.7, "trend": 132.766101, "fair_value": 143.699329, "relative_strength": -7.446277, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -58.844956, "energy": 43.151545, "activity_lines": [ 122.658554, 123.870321, 126.235198, 128.866267 ] }, { "date": "2023-09-01", "close": 122.896576, "volume": 17677, "typical_volume": 22389.2, "trend": 132.062849, "fair_value": 143.653089, "relative_strength": -8.66835, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -56.768194, "energy": 53.914033, "activity_lines": [ 122.207557, 123.576489, 125.684779, 128.229523 ] }, { "date": "2023-09-08", "close": 122.520752, "volume": 14004, "typical_volume": 21625.95, "trend": 131.395738, "fair_value": 143.572966, "relative_strength": -7.926428, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -55.488402, "energy": 48.271691, "activity_lines": [ 122.019643, 123.245076, 125.165138, 127.613904 ] }, { "date": "2023-09-15", "close": 122.14492, "volume": 23895, "typical_volume": 21262.9, "trend": 130.691764, "fair_value": 143.493806, "relative_strength": -9.112152, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -54.29278, "energy": 34.88123, "activity_lines": [ 122.207558, 122.910246, 124.673719, 127.017077 ] }, { "date": "2023-09-22", "close": 120.265762, "volume": 21477, "typical_volume": 21586.85, "trend": 130.004236, "fair_value": 143.427329, "relative_strength": -9.614686, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -60.824604, "energy": 38.047199, "activity_lines": [ 121.693921, 122.288417, 124.05002, 126.344432 ] }, { "date": "2023-09-29", "close": 120.07785, "volume": 22733, "typical_volume": 21734.1, "trend": 129.115775, "fair_value": 143.370888, "relative_strength": -9.736533, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -59.621457, "energy": 38.680117, "activity_lines": [ 121.055009, 121.731504, 123.477326, 125.70402 ] }, { "date": "2023-10-06", "close": 116.319542, "volume": 19730, "typical_volume": 21754.0, "trend": 128.168955, "fair_value": 143.274618, "relative_strength": -10.952884, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -70.685285, "energy": 52.853538, "activity_lines": [ 119.301133, 120.532263, 122.619179, 124.878456 ] }, { "date": "2023-10-13", "close": 111.99749, "volume": 38628, "typical_volume": 22605.35, "trend": 127.37007, "fair_value": 143.146148, "relative_strength": -14.668704, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -80.603477, "energy": 74.716616, "activity_lines": [ 116.545041, 118.772692, 121.430839, 123.835136 ] }, { "date": "2023-10-20", "close": 105.232544, "volume": 41984, "typical_volume": 23746.3, "trend": 126.345687, "fair_value": 143.003537, "relative_strength": -16.434155, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -89.705803, "energy": 87.66608, "activity_lines": [ 112.235518, 116.111129, 119.673384, 122.406909 ] }, { "date": "2023-10-27", "close": 103.541298, "volume": 33305, "typical_volume": 24741.55, "trend": 125.143261, "fair_value": 142.87931, "relative_strength": -16.995186, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -87.029861, "energy": 93.261029, "activity_lines": [ 108.489738, 113.429064, 117.885504, 120.935658 ] }, { "date": "2023-11-03", "close": 109.366684, "volume": 49509, "typical_volume": 25757.6, "trend": 124.262765, "fair_value": 142.771068, "relative_strength": -16.505421, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -67.062949, "energy": 84.370689, "activity_lines": [ 107.800718, 112.093158, 116.769645, 119.917814 ] }, { "date": "2023-11-10", "close": 110.87001, "volume": 31911, "typical_volume": 25081.7, "trend": 123.395881, "fair_value": 142.643238, "relative_strength": -15.43032, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -65.283549, "energy": 79.436701, "activity_lines": [ 108.326884, 111.262916, 115.902551, 119.053765 ] }, { "date": "2023-11-17", "close": 108.990845, "volume": 31561, "typical_volume": 25218.75, "trend": 122.496774, "fair_value": 142.517974, "relative_strength": -18.223258, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -61.789111, "energy": 54.712574, "activity_lines": [ 108.589964, 110.309672, 114.921812, 118.124408 ] }, { "date": "2023-11-24", "close": 105.044632, "volume": 35034, "typical_volume": 26147.7, "trend": 121.599962, "fair_value": 142.368538, "relative_strength": -20.205725, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -70.101805, "energy": 52.766846, "activity_lines": [ 107.738082, 108.884934, 113.646674, 116.998464 ] }, { "date": "2023-12-01", "close": 105.984215, "volume": 25478, "typical_volume": 26404.65, "trend": 120.641595, "fair_value": 142.209389, "relative_strength": -20.477032, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -64.301944, "energy": 49.707109, "activity_lines": [ 107.211923, 107.941943, 112.556766, 115.990996 ] }, { "date": "2023-12-08", "close": 107.487526, "volume": 33873, "typical_volume": 27295.5, "trend": 119.714546, "fair_value": 142.009294, "relative_strength": -18.893876, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -57.673571, "energy": 46.373668, "activity_lines": [ 107.024006, 107.531945, 111.703989, 115.142346 ] }, { "date": "2023-12-15", "close": 115.192055, "volume": 55348, "typical_volume": 29007.05, "trend": 119.106954, "fair_value": 141.819246, "relative_strength": -13.838987, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -40.409267, "energy": 30.554251, "activity_lines": [ 109.529542, 108.751686, 111.655668, 114.850573 ] }, { "date": "2023-12-22", "close": 118.1987, "volume": 28014, "typical_volume": 29688.85, "trend": 118.787498, "fair_value": 141.651844, "relative_strength": -12.113844, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -18.054563, "energy": 15.350701, "activity_lines": [ 112.749157, 110.53859, 111.958122, 114.791976 ] }, { "date": "2023-12-29", "close": 118.950356, "volume": 15547, "typical_volume": 29327.65, "trend": 118.330238, "fair_value": 141.487011, "relative_strength": -11.850013, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -6.776441, "energy": 19.139305, "activity_lines": [ 115.605467, 112.349409, 112.388537, 114.802483 ] }, { "date": "2024-01-05", "close": 117.447029, "volume": 25226, "typical_volume": 29194.2, "trend": 117.973198, "fair_value": 141.290061, "relative_strength": -12.411882, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -0.162947, "energy": 22.425981, "activity_lines": [ 117.03362, 113.637481, 112.685621, 114.745502 ] }, { "date": "2024-01-12", "close": 114.25248, "volume": 18011, "typical_volume": 29147.25, "trend": 117.396925, "fair_value": 141.083874, "relative_strength": -13.607074, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -1.23387, "energy": 19.694675, "activity_lines": [ 116.632736, 114.091895, 112.687411, 114.505455 ] }, { "date": "2024-01-19", "close": 108.615013, "volume": 17936, "typical_volume": 29160.2, "trend": 116.864498, "fair_value": 140.826937, "relative_strength": -16.129347, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -23.329386, "energy": 14.818167, "activity_lines": [ 113.901699, 113.432482, 112.189883, 113.93888 ] }, { "date": "2024-01-26", "close": 119.889923, "volume": 45303, "typical_volume": 30725.15, "trend": 116.657791, "fair_value": 140.674871, "relative_strength": -10.105169, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": 6.328788, "energy": 7.875523, "activity_lines": [ 115.367435, 114.864052, 112.834163, 114.134069 ] }, { "date": "2024-02-02", "close": 112.749153, "volume": 19022, "typical_volume": 30481.5, "trend": 116.244378, "fair_value": 140.480404, "relative_strength": -14.677658, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -23.840862, "energy": 13.617008, "activity_lines": [ 114.340166, 114.799136, 112.810897, 113.881899 ] }, { "date": "2024-02-09", "close": 114.628311, "volume": 13296, "typical_volume": 30072.45, "trend": 115.874811, "fair_value": 140.237284, "relative_strength": -10.818105, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -24.558255, "energy": 13.467579, "activity_lines": [ 114.352696, 114.935803, 113.01134, 113.777636 ] }, { "date": "2024-02-16", "close": 116.507454, "volume": 16342, "typical_volume": 29752.9, "trend": 115.680632, "fair_value": 139.955628, "relative_strength": -10.321563, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -14.807623, "energy": 14.190384, "activity_lines": [ 115.179522, 115.256966, 113.417595, 113.818452 ] }, { "date": "2024-02-23", "close": 108.427109, "volume": 27386, "typical_volume": 30135.7, "trend": 115.004137, "fair_value": 139.63454, "relative_strength": -15.62998, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -45.729955, "energy": 21.701791, "activity_lines": [ 113.162568, 113.944977, 113.071294, 113.350483 ] }, { "date": "2024-03-01", "close": 110.87001, "volume": 18064, "typical_volume": 29107.5, "trend": 114.365226, "fair_value": 139.354964, "relative_strength": -13.189477, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -36.637391, "energy": 20.127396, "activity_lines": [ 111.972442, 113.200151, 112.995234, 113.083765 ] }, { "date": "2024-03-08", "close": 108.427109, "volume": 17618, "typical_volume": 27889.2, "trend": 113.945549, "fair_value": 139.055233, "relative_strength": -14.671114, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -56.869403, "energy": 34.677156, "activity_lines": [ 110.569342, 112.144411, 112.691886, 112.700661 ] }, { "date": "2024-03-15", "close": 105.420456, "volume": 81594, "typical_volume": 30303.65, "trend": 113.482024, "fair_value": 138.748592, "relative_strength": -17.272572, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -65.96186, "energy": 55.590119, "activity_lines": [ 108.452161, 110.733337, 112.086977, 112.150655 ] }, { "date": "2024-03-22", "close": 106.360031, "volume": 21823, "typical_volume": 28919.35, "trend": 112.955861, "fair_value": 138.449099, "relative_strength": -18.050669, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -60.787466, "energy": 60.523597, "activity_lines": [ 107.262029, 109.711761, 111.562604, 111.691171 ] }, { "date": "2024-03-29", "close": 108.427109, "volume": 25501, "typical_volume": 28598.85, "trend": 112.473546, "fair_value": 138.144871, "relative_strength": -16.763852, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -57.356835, "energy": 55.171741, "activity_lines": [ 107.437418, 109.209516, 111.249412, 111.398994 ] }, { "date": "2024-04-05", "close": 107.299599, "volume": 23301, "typical_volume": 28185.85, "trend": 111.966174, "fair_value": 137.808686, "relative_strength": -17.809017, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -55.485501, "energy": 48.732907, "activity_lines": [ 107.23697, 108.505685, 110.840471, 111.065191 ] }, { "date": "2024-04-12", "close": 110.11834, "volume": 30203, "typical_volume": 27944.3, "trend": 111.565288, "fair_value": 137.502935, "relative_strength": -14.876608, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -49.844982, "energy": 27.774454, "activity_lines": [ 108.214129, 108.543268, 110.708036, 110.945976 ] }, { "date": "2024-04-19", "close": 109.930428, "volume": 33859, "typical_volume": 28363.35, "trend": 111.220777, "fair_value": 137.203848, "relative_strength": -14.107902, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -35.992973, "energy": 17.629994, "activity_lines": [ 109.015903, 108.594518, 110.533543, 110.840501 ] }, { "date": "2024-04-26", "close": 107.111694, "volume": 31707, "typical_volume": 28255.05, "trend": 110.788572, "fair_value": 136.920413, "relative_strength": -16.117154, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -41.671564, "energy": 20.910681, "activity_lines": [ 108.577434, 108.218687, 110.071809, 110.575399 ] }, { "date": "2024-05-03", "close": 106.615959, "volume": 15846, "typical_volume": 26279.95, "trend": 110.465119, "fair_value": 136.623747, "relative_strength": -16.956392, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -43.555376, "energy": 22.115691, "activity_lines": [ 107.923609, 107.923555, 109.564651, 110.306198 ] }, { "date": "2024-05-10", "close": 111.185226, "volume": 15594, "typical_volume": 25658.95, "trend": 110.438043, "fair_value": 136.343776, "relative_strength": -15.075204, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -29.422331, "energy": 14.984346, "activity_lines": [ 108.913616, 108.492128, 109.533499, 110.352656 ] }, { "date": "2024-05-17", "close": 112.327538, "volume": 24827, "typical_volume": 26122.95, "trend": 110.674543, "fair_value": 136.135247, "relative_strength": -15.102004, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -19.933934, "energy": 9.57068, "activity_lines": [ 110.025352, 109.262663, 109.644537, 110.474559 ] }, { "date": "2024-05-24", "close": 110.233299, "volume": 21217, "typical_volume": 25922.5, "trend": 110.89761, "fair_value": 135.899553, "relative_strength": -16.063736, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -25.493107, "energy": 14.218946, "activity_lines": [ 110.291729, 109.58151, 109.587661, 110.446092 ] }, { "date": "2024-05-31", "close": 108.900597, "volume": 10783, "typical_volume": 25561.1, "trend": 110.882074, "fair_value": 135.616387, "relative_strength": -15.164228, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -19.45249, "energy": 13.938371, "activity_lines": [ 110.09368, 109.570542, 109.438212, 110.317252 ] }, { "date": "2024-06-07", "close": 109.090981, "volume": 19014, "typical_volume": 25615.0, "trend": 110.822773, "fair_value": 135.305817, "relative_strength": -13.815514, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -19.582604, "energy": 10.792595, "activity_lines": [ 109.839833, 109.547997, 109.33238, 110.201698 ] }, { "date": "2024-06-14", "close": 106.806351, "volume": 14108, "typical_volume": 24055.25, "trend": 110.749956, "fair_value": 134.961137, "relative_strength": -12.112957, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -42.374398, "energy": 24.187537, "activity_lines": [ 108.65944, 109.097994, 109.006698, 109.942574 ] }, { "date": "2024-06-21", "close": 107.187126, "volume": 40944, "typical_volume": 25151.35, "trend": 110.821373, "fair_value": 134.604013, "relative_strength": -12.669693, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -51.015956, "energy": 37.848182, "activity_lines": [ 107.897898, 108.726191, 108.779582, 109.712714 ] }, { "date": "2024-06-28", "close": 106.996735, "volume": 19850, "typical_volume": 25479.05, "trend": 110.855123, "fair_value": 134.257119, "relative_strength": -12.749537, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -53.117482, "energy": 41.114655, "activity_lines": [ 107.415586, 108.373067, 108.56082, 109.465963 ] }, { "date": "2024-07-05", "close": 104.712112, "volume": 19061, "typical_volume": 25615.0, "trend": 110.762609, "fair_value": 133.885275, "relative_strength": -16.32932, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -63.619502, "energy": 52.580569, "activity_lines": [ 106.387504, 107.657896, 108.160816, 109.06964 ] }, { "date": "2024-07-12", "close": 104.331337, "volume": 28463, "typical_volume": 25668.85, "trend": 110.400586, "fair_value": 133.5316, "relative_strength": -16.026957, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -63.70974, "energy": 55.509199, "activity_lines": [ 105.511729, 106.917123, 107.780716, 108.654719 ] }, { "date": "2024-07-19", "close": 104.521729, "volume": 18333, "typical_volume": 25682.3, "trend": 109.944686, "fair_value": 133.17571, "relative_strength": -14.61181, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -61.465258, "energy": 54.953982, "activity_lines": [ 105.016728, 106.252504, 107.438251, 108.275438 ] }, { "date": "2024-07-26", "close": 100.333237, "volume": 20529, "typical_volume": 25827.85, "trend": 109.324116, "fair_value": 132.791826, "relative_strength": -17.426198, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -78.305581, "energy": 71.326037, "activity_lines": [ 103.277871, 104.947496, 106.727113, 107.655345 ] }, { "date": "2024-08-02", "close": 100.142853, "volume": 28032, "typical_volume": 23149.75, "trend": 108.74731, "fair_value": 132.427331, "relative_strength": -13.588997, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -74.256104, "energy": 72.987513, "activity_lines": [ 101.932479, 103.825951, 106.036386, 107.063005 ] }, { "date": "2024-08-09", "close": 97.477455, "volume": 21721, "typical_volume": 23144.65, "trend": 108.188142, "fair_value": 132.007966, "relative_strength": -16.156943, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -80.48862, "energy": 80.154142, "activity_lines": [ 100.155546, 102.403251, 105.116942, 106.335918 ] }, { "date": "2024-08-16", "close": 98.429382, "volume": 8881, "typical_volume": 22313.65, "trend": 107.848621, "fair_value": 131.630197, "relative_strength": -16.324395, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -71.402637, "energy": 79.532235, "activity_lines": [ 99.178233, 101.361322, 104.330456, 105.70632 ] }, { "date": "2024-08-23", "close": 98.429382, "volume": 29876, "typical_volume": 22642.4, "trend": 107.13327, "fair_value": 131.239834, "relative_strength": -17.112913, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -67.050801, "energy": 72.516873, "activity_lines": [ 98.594383, 100.51324, 103.591578, 105.098627 ] }, { "date": "2024-08-30", "close": 92.62262, "volume": 77283, "typical_volume": 24996.4, "trend": 106.462386, "fair_value": 130.806522, "relative_strength": -22.197829, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -85.11794, "energy": 81.414593, "activity_lines": [ 96.481102, 98.761692, 102.341914, 104.162456 ] }, { "date": "2024-09-06", "close": 87.862984, "volume": 72486, "typical_volume": 26927.75, "trend": 105.570208, "fair_value": 130.35873, "relative_strength": -22.45913, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -90.857349, "energy": 91.017809, "activity_lines": [ 93.295318, 96.409565, 100.722265, 102.962495 ] }, { "date": "2024-09-13", "close": 85.959122, "volume": 61608, "typical_volume": 28422.8, "trend": 104.55193, "fair_value": 129.923924, "relative_strength": -23.918018, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -88.517788, "energy": 93.59549, "activity_lines": [ 90.29357, 94.059167, 99.026379, 101.697264 ] }, { "date": "2024-09-20", "close": 82.151413, "volume": 417575, "typical_volume": 48509.25, "trend": 103.676074, "fair_value": 129.485318, "relative_strength": -26.854898, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -89.489049, "energy": 95.454935, "activity_lines": [ 86.790475, 91.357422, 97.06858, 100.252069 ] }, { "date": "2024-09-27", "close": 86.815857, "volume": 55082, "typical_volume": 50483.65, "trend": 102.874269, "fair_value": 129.102948, "relative_strength": -22.713001, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -68.099362, "energy": 87.599646, "activity_lines": [ 85.927393, 89.907029, 95.671511, 99.164313 ] }, { "date": "2024-10-04", "close": 83.674492, "volume": 35272, "typical_volume": 51005.9, "trend": 102.049181, "fair_value": 128.670671, "relative_strength": -24.043924, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -73.682272, "energy": 87.234298, "activity_lines": [ 84.791424, 88.207404, 94.09131, 97.925618 ] }, { "date": "2024-10-11", "close": 80.247559, "volume": 43910, "typical_volume": 52140.55, "trend": 101.210085, "fair_value": 128.196962, "relative_strength": -26.647827, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -80.788591, "energy": 79.352579, "activity_lines": [ 83.109685, 86.187587, 92.321177, 96.519061 ] }, { "date": "2024-10-18", "close": 79.581207, "volume": 38210, "typical_volume": 53511.9, "trend": 100.317457, "fair_value": 127.726996, "relative_strength": -26.919379, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -77.066538, "energy": 69.224241, "activity_lines": [ 81.713525, 84.408347, 90.630372, 95.12365 ] }, { "date": "2024-10-25", "close": 80.057167, "volume": 40580, "typical_volume": 54590.2, "trend": 99.371793, "fair_value": 127.265806, "relative_strength": -25.000183, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -71.514248, "energy": 67.596046, "activity_lines": [ 80.901212, 83.041031, 89.124512, 93.816534 ] }, { "date": "2024-11-01", "close": 77.201378, "volume": 37582, "typical_volume": 55763.9, "trend": 98.368519, "fair_value": 126.73593, "relative_strength": -25.962498, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -77.502937, "energy": 69.915686, "activity_lines": [ 79.276586, 81.488522, 87.484928, 92.386185 ] }, { "date": "2024-11-08", "close": 73.298477, "volume": 47609, "typical_volume": 56097.15, "trend": 97.14119, "fair_value": 126.151267, "relative_strength": -29.491761, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -85.277847, "energy": 77.644377, "activity_lines": [ 76.991958, 79.612358, 85.614616, 90.768763 ] }, { "date": "2024-11-15", "close": 69.490761, "volume": 63337, "typical_volume": 58271.5, "trend": 95.793201, "fair_value": 125.574254, "relative_strength": -32.653952, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -87.876259, "energy": 84.12951, "activity_lines": [ 74.129826, 77.395229, 83.543038, 88.984864 ] }, { "date": "2024-11-22", "close": 68.25325, "volume": 45120, "typical_volume": 59574.45, "trend": 94.49792, "fair_value": 125.019079, "relative_strength": -32.841662, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -84.359135, "energy": 89.707316, "activity_lines": [ 71.57231, 75.28714, 81.532202, 87.208093 ] }, { "date": "2024-11-29", "close": 67.682098, "volume": 47694, "typical_volume": 60536.0, "trend": 93.200124, "fair_value": 124.461387, "relative_strength": -32.953122, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -79.278403, "energy": 90.447252, "activity_lines": [ 69.579607, 73.397129, 79.640585, 85.47804 ] }, { "date": "2024-12-06", "close": 65.873436, "volume": 48352, "typical_volume": 62036.95, "trend": 91.689731, "fair_value": 123.874926, "relative_strength": -34.940344, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -79.876443, "energy": 90.939112, "activity_lines": [ 67.809021, 71.441349, 77.751234, 83.715028 ] }, { "date": "2024-12-13", "close": 64.350349, "volume": 65717, "typical_volume": 64296.35, "trend": 90.090492, "fair_value": 123.262673, "relative_strength": -36.851584, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -79.788135, "energy": 89.582521, "activity_lines": [ 66.285936, 69.589416, 75.900866, 81.951197 ] }, { "date": "2024-12-20", "close": 68.538834, "volume": 118043, "typical_volume": 68796.9, "trend": 88.700676, "fair_value": 122.725357, "relative_strength": -30.907703, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -67.857958, "energy": 67.235715, "activity_lines": [ 66.755555, 68.850374, 74.620749, 80.560768 ] }, { "date": "2024-12-27", "close": 73.869629, "volume": 46317, "typical_volume": 70026.7, "trend": 87.532977, "fair_value": 122.187864, "relative_strength": -25.634512, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -64.767645, "energy": 62.93329, "activity_lines": [ 69.065567, 69.293452, 73.998823, 79.603926 ] }, { "date": "2025-01-03", "close": 71.394623, "volume": 42140, "typical_volume": 71689.65, "trend": 86.276432, "fair_value": 121.580692, "relative_strength": -27.781775, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -50.825924, "energy": 49.491464, "activity_lines": [ 70.176151, 69.390377, 73.253599, 78.562742 ] }, { "date": "2025-01-10", "close": 72.82251, "volume": 38812, "typical_volume": 72136.45, "trend": 85.143637, "fair_value": 120.996412, "relative_strength": -25.628485, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -43.460776, "energy": 34.329551, "activity_lines": [ 71.515196, 69.904418, 72.773102, 77.694747 ] }, { "date": "2025-01-17", "close": 72.441742, "volume": 41660, "typical_volume": 70355.3, "trend": 83.985458, "fair_value": 120.423432, "relative_strength": -27.852707, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -37.96577, "energy": 28.631876, "activity_lines": [ 72.264047, 70.428844, 72.378278, 76.87527 ] }, { "date": "2025-01-24", "close": 71.394623, "volume": 48284, "typical_volume": 69145.2, "trend": 82.798721, "fair_value": 119.902133, "relative_strength": -29.266182, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -37.135065, "energy": 25.97319, "activity_lines": [ 72.124433, 70.778463, 71.979829, 76.062958 ] }, { "date": "2025-01-31", "close": 73.869629, "volume": 49265, "typical_volume": 68528.05, "trend": 81.770638, "fair_value": 119.407004, "relative_strength": -26.44137, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -33.320691, "energy": 20.297755, "activity_lines": [ 72.619434, 71.543466, 71.895515, 75.486887 ] }, { "date": "2025-02-07", "close": 76.630226, "volume": 41023, "typical_volume": 49700.45, "trend": 80.847267, "fair_value": 118.915832, "relative_strength": -23.171627, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -7.682233, "energy": 12.894486, "activity_lines": [ 74.034634, 72.70828, 72.131684, 75.155248 ] }, { "date": "2025-02-14", "close": 79.200432, "volume": 41992, "typical_volume": 49045.95, "trend": 80.003224, "fair_value": 118.459455, "relative_strength": -23.725102, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": 10.92193, "energy": 20.649236, "activity_lines": [ 75.957529, 74.177712, 72.638925, 75.049 ] }, { "date": "2025-02-21", "close": 78.438896, "volume": 26782, "typical_volume": 48621.45, "trend": 79.273413, "fair_value": 117.997051, "relative_strength": -23.06847, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": 8.730951, "energy": 26.898059, "activity_lines": [ 77.201384, 75.266373, 73.109904, 74.948076 ] }, { "date": "2025-02-28", "close": 80.152359, "volume": 29558, "typical_volume": 47903.85, "trend": 78.607063, "fair_value": 117.63952, "relative_strength": -22.468492, "stage": 4, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 33.200848, "energy": 48.920268, "activity_lines": [ 78.616584, 76.410417, 73.769001, 75.004782 ] }, { "date": "2025-03-07", "close": 79.961975, "volume": 30563, "typical_volume": 47521.5, "trend": 78.023214, "fair_value": 117.264738, "relative_strength": -24.441678, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 29.302235, "energy": 52.329414, "activity_lines": [ 79.384473, 77.308692, 74.410419, 75.092196 ] }, { "date": "2025-03-14", "close": 78.058121, "volume": 25561, "typical_volume": 46770.55, "trend": 77.344172, "fair_value": 116.817068, "relative_strength": -25.623169, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 24.014935, "energy": 38.097009, "activity_lines": [ 79.111587, 77.750041, 74.868705, 75.094448 ] }, { "date": "2025-03-21", "close": 79.866783, "volume": 62189, "typical_volume": 48000.9, "trend": 76.725418, "fair_value": 116.424501, "relative_strength": -22.505274, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 35.158883, "energy": 32.764909, "activity_lines": [ 79.346396, 78.399083, 75.508764, 75.257197 ] }, { "date": "2025-03-28", "close": 77.106186, "volume": 27103, "typical_volume": 46975.6, "trend": 76.208204, "fair_value": 116.005079, "relative_strength": -22.93678, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 27.841842, "energy": 24.066633, "activity_lines": [ 78.616582, 78.41812, 75.873216, 75.281763 ] }, { "date": "2025-04-04", "close": 67.015755, "volume": 58508, "typical_volume": 46734.15, "trend": 75.513296, "fair_value": 115.511814, "relative_strength": -24.928427, "stage": 4, "regime": "rotation_down", "modifier": "Structural failure", "gate": "mixed", "direction": -24.966176, "energy": 20.442756, "activity_lines": [ 74.612139, 76.517726, 75.258543, 74.688701 ] }, { "date": "2025-04-11", "close": 69.490761, "volume": 78673, "typical_volume": 48411.8, "trend": 74.964351, "fair_value": 115.02182, "relative_strength": -20.387216, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -22.417034, "energy": 26.532437, "activity_lines": [ 72.308471, 75.146949, 74.89137, 74.300151 ] }, { "date": "2025-04-18", "close": 74.06002, "volume": 33224, "typical_volume": 47688.3, "trend": 74.694638, "fair_value": 114.507302, "relative_strength": -18.673049, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -21.705398, "energy": 27.824292, "activity_lines": [ 72.225971, 74.686562, 74.953472, 74.241807 ] }, { "date": "2025-04-25", "close": 76.249458, "volume": 37591, "typical_volume": 47150.25, "trend": 74.342425, "fair_value": 114.032009, "relative_strength": -18.499038, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -13.783668, "energy": 22.257162, "activity_lines": [ 73.139823, 74.670985, 75.193721, 74.342118 ] }, { "date": "2025-05-02", "close": 73.584061, "volume": 63190, "typical_volume": 47023.9, "trend": 74.006077, "fair_value": 113.616929, "relative_strength": -21.690577, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -6.953261, "energy": 10.792363, "activity_lines": [ 73.406365, 74.224445, 75.130713, 74.293191 ] }, { "date": "2025-05-09", "close": 74.563286, "volume": 54802, "typical_volume": 43861.85, "trend": 73.816601, "fair_value": 113.170689, "relative_strength": -23.325517, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 24.399266, "energy": 11.930439, "activity_lines": [ 74.234123, 74.044216, 75.116995, 74.32914 ] }, { "date": "2025-05-16", "close": 75.440506, "volume": 57508, "typical_volume": 44421.4, "trend": 73.678578, "fair_value": 112.716034, "relative_strength": -23.808366, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 30.361903, "energy": 16.139073, "activity_lines": [ 74.85112, 74.1251, 75.158133, 74.433908 ] }, { "date": "2025-05-23", "close": 73.393669, "volume": 38025, "typical_volume": 44215.65, "trend": 73.456461, "fair_value": 112.24241, "relative_strength": -24.125721, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 24.157457, "energy": 10.880693, "activity_lines": [ 74.389187, 73.916041, 74.996854, 74.415527 ] }, { "date": "2025-05-30", "close": 72.906334, "volume": 23300, "typical_volume": 43440.05, "trend": 73.313293, "fair_value": 111.76917, "relative_strength": -24.506934, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 19.977634, "energy": 9.456964, "activity_lines": [ 73.809233, 73.703184, 74.779643, 74.380035 ] }, { "date": "2025-06-06", "close": 73.296196, "volume": 26763, "typical_volume": 42695.2, "trend": 73.313217, "fair_value": 111.324168, "relative_strength": -23.583029, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 9.604475, "energy": 7.795228, "activity_lines": [ 73.582108, 73.687765, 74.599163, 74.378932 ] }, { "date": "2025-06-13", "close": 71.639236, "volume": 45304, "typical_volume": 42546.2, "trend": 73.384833, "fair_value": 110.838126, "relative_strength": -22.751209, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -26.222254, "energy": 22.384811, "activity_lines": [ 72.821854, 73.440352, 74.256807, 74.270933 ] }, { "date": "2025-06-20", "close": 72.808853, "volume": 44173, "typical_volume": 42291.6, "trend": 73.536686, "fair_value": 110.342034, "relative_strength": -20.17967, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -20.270415, "energy": 22.017659, "activity_lines": [ 72.646409, 73.321534, 74.02468, 74.233773 ] }, { "date": "2025-06-27", "close": 74.953163, "volume": 32629, "typical_volume": 41871.9, "trend": 73.779055, "fair_value": 109.898294, "relative_strength": -18.450081, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -13.660606, "energy": 9.503716, "activity_lines": [ 73.361177, 73.532261, 74.001823, 74.325159 ] }, { "date": "2025-07-04", "close": 74.270882, "volume": 59749, "typical_volume": 42759.75, "trend": 74.05897, "fair_value": 109.438482, "relative_strength": -17.696314, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -5.469661, "energy": 4.911343, "activity_lines": [ 73.744553, 73.602699, 73.921974, 74.35689 ] }, { "date": "2025-07-11", "close": 74.270882, "volume": 60228, "typical_volume": 44432.05, "trend": 74.389654, "fair_value": 109.038333, "relative_strength": -18.630265, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -28.364507, "energy": 14.388732, "activity_lines": [ 74.036958, 73.70911, 73.865598, 74.370561 ] }, { "date": "2025-07-18", "close": 73.783539, "volume": 34882, "typical_volume": 44698.25, "trend": 74.564478, "fair_value": 108.628041, "relative_strength": -18.277908, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -25.907295, "energy": 14.842218, "activity_lines": [ 74.101937, 73.714426, 73.782657, 74.331457 ] }, { "date": "2025-07-25", "close": 73.881012, "volume": 36258, "typical_volume": 44983.0, "trend": 74.564857, "fair_value": 108.190297, "relative_strength": -18.913566, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -16.582246, "energy": 8.951129, "activity_lines": [ 74.056453, 73.751642, 73.739326, 74.287362 ] }, { "date": "2025-08-01", "close": 71.346832, "volume": 52417, "typical_volume": 46325.8, "trend": 74.563264, "fair_value": 107.746837, "relative_strength": -18.642274, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -55.009773, "energy": 32.359817, "activity_lines": [ 73.094765, 73.356452, 73.483602, 74.079748 ] }, { "date": "2025-08-08", "close": 74.758224, "volume": 73595, "typical_volume": 46896.1, "trend": 74.627788, "fair_value": 107.295998, "relative_strength": -18.596943, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -24.762026, "energy": 13.282791, "activity_lines": [ 73.51063, 73.618731, 73.584731, 74.092326 ] }, { "date": "2025-08-15", "close": 78.65696, "volume": 85226, "typical_volume": 49802.25, "trend": 74.834962, "fair_value": 106.888869, "relative_strength": -15.657656, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 28.696779, "energy": 24.798963, "activity_lines": [ 75.193584, 74.556199, 74.081494, 74.352273 ] }, { "date": "2025-08-22", "close": 80.801262, "volume": 70596, "typical_volume": 50406.65, "trend": 75.148517, "fair_value": 106.522392, "relative_strength": -11.407976, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 47.323452, "energy": 54.037869, "activity_lines": [ 77.2989, 75.786073, 74.775093, 74.737195 ] }, { "date": "2025-08-29", "close": 78.364555, "volume": 36526, "typical_volume": 48299.3, "trend": 75.298347, "fair_value": 106.162524, "relative_strength": -10.165909, "stage": 1, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 32.776926, "energy": 54.408999, "activity_lines": [ 78.124132, 76.406326, 75.170978, 74.944682 ] }, { "date": "2025-09-05", "close": 78.851898, "volume": 37626, "typical_volume": 48519.4, "trend": 75.372403, "fair_value": 105.820988, "relative_strength": -8.591457, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 33.98897, "energy": 59.007647, "activity_lines": [ 78.812909, 77.014175, 75.571021, 75.173943 ] }, { "date": "2025-09-12", "close": 79.436707, "volume": 38453, "typical_volume": 48562.5, "trend": 75.380279, "fair_value": 105.514788, "relative_strength": -8.275333, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "up", "direction": 64.678868, "energy": 67.81822, "activity_lines": [ 79.196285, 77.657466, 76.003942, 75.436156 ] }, { "date": "2025-09-19", "close": 75.635437, "volume": 139998, "typical_volume": 52402.9, "trend": 75.28683, "fair_value": 105.236865, "relative_strength": -11.71956, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 55.536837, "energy": 34.539744, "activity_lines": [ 78.000672, 77.515693, 76.059659, 75.452618 ] }, { "date": "2025-09-26", "close": 74.173416, "volume": 72574, "typical_volume": 53291.5, "trend": 75.087532, "fair_value": 104.940212, "relative_strength": -13.191772, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 28.727834, "energy": 14.902938, "activity_lines": [ 76.519153, 77.083288, 75.966368, 75.380785 ] }, { "date": "2025-10-03", "close": 80.021515, "volume": 51626, "typical_volume": 52997.4, "trend": 75.089517, "fair_value": 104.682216, "relative_strength": -7.751671, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 52.061366, "energy": 24.306333, "activity_lines": [ 77.428857, 77.707086, 76.431896, 75.699106 ] }, { "date": "2025-10-10", "close": 77.097466, "volume": 48691, "typical_volume": 53530.7, "trend": 75.057495, "fair_value": 104.396117, "relative_strength": -8.861105, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 34.381424, "energy": 18.117209, "activity_lines": [ 77.253415, 77.687592, 76.597128, 75.828651 ] }, { "date": "2025-10-17", "close": 79.436707, "volume": 67687, "typical_volume": 55750.05, "trend": 75.043159, "fair_value": 104.101616, "relative_strength": -3.815761, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 46.623584, "energy": 24.509311, "activity_lines": [ 77.974681, 77.988858, 76.967508, 76.111181 ] }, { "date": "2025-10-24", "close": 80.606323, "volume": 67050, "typical_volume": 57764.4, "trend": 75.15983, "fair_value": 103.774836, "relative_strength": -3.717439, "stage": 1, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 59.895152, "energy": 44.266522, "activity_lines": [ 79.085819, 78.417718, 77.418182, 76.470095 ] }, { "date": "2025-10-31", "close": 77.0, "volume": 38596, "typical_volume": 57429.0, "trend": 75.492639, "fair_value": 103.395692, "relative_strength": -10.175083, "stage": 1, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 47.465933, "energy": 27.569051, "activity_lines": [ 78.663457, 78.15544, 77.490588, 76.588815 ] }, { "date": "2025-11-07", "close": 68.227844, "volume": 124016, "typical_volume": 61421.15, "trend": 75.450541, "fair_value": 102.922879, "relative_strength": -18.954259, "stage": 1, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "mixed", "direction": -27.678613, "energy": 17.792151, "activity_lines": [ 75.128605, 76.367339, 76.702022, 76.120119 ] }, { "date": "2025-11-14", "close": 71.73671, "volume": 65722, "typical_volume": 63075.8, "trend": 75.373098, "fair_value": 102.46203, "relative_strength": -16.094159, "stage": 4, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "mixed", "direction": -21.502986, "energy": 30.482728, "activity_lines": [ 73.549619, 75.401517, 76.269449, 75.880517 ] }, { "date": "2025-11-21", "close": 73.588608, "volume": 57234, "typical_volume": 62950.05, "trend": 75.284403, "fair_value": 101.990825, "relative_strength": -12.395695, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -15.538156, "energy": 31.88622, "activity_lines": [ 72.945316, 74.90177, 76.028563, 75.765389 ] }, { "date": "2025-11-28", "close": 81.288605, "volume": 79212, "typical_volume": 63899.25, "trend": 75.541221, "fair_value": 101.55845, "relative_strength": -7.195576, "stage": 1, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": 12.439054, "energy": 17.402686, "activity_lines": [ 75.297552, 75.908353, 76.524259, 76.152756 ] }, { "date": "2025-12-05", "close": 79.826584, "volume": 49627, "typical_volume": 64636.5, "trend": 75.716664, "fair_value": 101.110853, "relative_strength": -9.891887, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 42.636826, "energy": 20.336654, "activity_lines": [ 77.116962, 76.546328, 76.847298, 76.429231 ] }, { "date": "2025-12-12", "close": 80.606323, "volume": 52160, "typical_volume": 65431.6, "trend": 75.888858, "fair_value": 100.71154, "relative_strength": -9.207383, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 55.250701, "energy": 36.148578, "activity_lines": [ 79.007846, 77.223289, 77.215821, 76.744693 ] }, { "date": "2025-12-19", "close": 84.310127, "volume": 66332, "typical_volume": 66127.35, "trend": 76.25274, "fair_value": 100.357027, "relative_strength": -7.112423, "stage": 1, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 70.366465, "energy": 55.031677, "activity_lines": [ 81.3081, 78.563037, 77.905061, 77.288001 ] }, { "date": "2025-12-26", "close": 85.479744, "volume": 17524, "typical_volume": 63323.8, "trend": 76.671854, "fair_value": 100.020541, "relative_strength": -5.626453, "stage": 1, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 72.630345, "energy": 72.718071, "activity_lines": [ 83.159998, 79.984302, 78.643964, 77.883292 ] }, { "date": "2026-01-02", "close": 92.594933, "volume": 36150, "typical_volume": 60870.0, "trend": 77.315145, "fair_value": 99.68638, "relative_strength": 0.484425, "stage": 1, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 88.869349, "energy": 85.932376, "activity_lines": [ 86.590883, 82.589365, 80.009449, 78.910587 ] }, { "date": "2026-01-09", "close": 91.132912, "volume": 46746, "typical_volume": 59677.5, "trend": 77.964934, "fair_value": 99.363904, "relative_strength": -1.706842, "stage": 1, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 78.235999, "energy": 85.021911, "activity_lines": [ 88.780673, 84.710631, 81.169323, 79.802056 ] }, { "date": "2026-01-16", "close": 89.378479, "volume": 47815, "typical_volume": 60241.95, "trend": 78.517255, "fair_value": 99.041881, "relative_strength": -4.479182, "stage": 1, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 66.251612, "energy": 80.046575, "activity_lines": [ 89.631897, 86.255948, 82.11291, 80.538414 ] }, { "date": "2026-01-23", "close": 94.544304, "volume": 48497, "typical_volume": 60785.5, "trend": 79.170293, "fair_value": 98.754142, "relative_strength": 0.30958, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 78.606892, "energy": 84.146331, "activity_lines": [ 91.620252, 88.355948, 83.496032, 81.572417 ] }, { "date": "2026-01-30", "close": 93.179741, "volume": 51777, "typical_volume": 61451.7, "trend": 79.800588, "fair_value": 98.428409, "relative_strength": -2.376512, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 69.021223, "energy": 72.629546, "activity_lines": [ 92.471474, 89.793162, 84.674471, 82.476252 ] }, { "date": "2026-02-06", "close": 94.446838, "volume": 47612, "typical_volume": 56832.4, "trend": 80.47312, "fair_value": 98.120157, "relative_strength": -1.765973, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 71.494574, "energy": 68.986343, "activity_lines": [ 93.231729, 91.104556, 85.908142, 83.421171 ] }, { "date": "2026-02-13", "close": 96.006325, "volume": 36111, "typical_volume": 55009.25, "trend": 81.21388, "fair_value": 97.817222, "relative_strength": 0.883855, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 73.394064, "energy": 70.285922, "activity_lines": [ 94.388352, 92.460251, 87.200758, 84.423314 ] }, { "date": "2026-02-20", "close": 96.10379, "volume": 37819, "typical_volume": 54318.9, "trend": 81.954639, "fair_value": 97.530121, "relative_strength": -1.913485, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 69.175467, "energy": 63.024606, "activity_lines": [ 95.25257, 93.539491, 88.39869, 85.383953 ] }, { "date": "2026-02-27", "close": 97.370888, "volume": 61752, "typical_volume": 54971.95, "trend": 82.822107, "fair_value": 97.213706, "relative_strength": 1.482524, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 71.942413, "energy": 59.944256, "activity_lines": [ 96.090799, 94.56734, 89.640715, 86.37855 ] }, { "date": "2026-03-06", "close": 88.891136, "volume": 69591, "typical_volume": 55067.15, "trend": 83.293205, "fair_value": 96.855802, "relative_strength": -2.000524, "stage": 1, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 60.462112, "energy": 44.566585, "activity_lines": [ 93.914006, 93.815947, 89.978606, 86.7701 ] }, { "date": "2026-03-13", "close": 89.378479, "volume": 62623, "typical_volume": 54845.8, "trend": 83.650589, "fair_value": 96.557177, "relative_strength": 1.305646, "stage": 1, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 44.316999, "energy": 29.272408, "activity_lines": [ 92.185567, 93.091137, 90.317888, 87.162698 ] }, { "date": "2026-03-20", "close": 80.216454, "volume": 380067, "typical_volume": 71919.35, "trend": 83.631095, "fair_value": 96.19982, "relative_strength": -7.533577, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 8.239278, "energy": 15.865461, "activity_lines": [ 87.741011, 90.758985, 89.742825, 86.941141 ] }, { "date": "2026-03-27", "close": 85.089874, "volume": 84687, "typical_volume": 69952.9, "trend": 83.855272, "fair_value": 95.850306, "relative_strength": -3.07043, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 7.406387, "energy": 20.084969, "activity_lines": [ 85.973586, 89.511391, 89.61658, 87.035256 ] }, { "date": "2026-04-03", "close": 84.79747, "volume": 27727, "typical_volume": 68053.15, "trend": 84.053458, "fair_value": 95.523485, "relative_strength": -6.460995, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 4.346588, "energy": 21.113033, "activity_lines": [ 84.842953, 88.288607, 89.382193, 87.096043 ] }, { "date": "2026-04-10", "close": 91.132912, "volume": 62105, "typical_volume": 68296.7, "trend": 84.443331, "fair_value": 95.230257, "relative_strength": -5.301932, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 12.545687, "energy": 18.054254, "activity_lines": [ 86.662363, 88.394936, 89.688986, 87.552782 ] }, { "date": "2026-04-17", "close": 88.696198, "volume": 65571, "typical_volume": 67614.65, "trend": 84.87869, "fair_value": 94.927258, "relative_strength": -9.639538, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 12.071606, "energy": 8.843746, "activity_lines": [ 87.520083, 88.095442, 89.680167, 87.82716 ] }, { "date": "2026-04-24", "close": 83.237976, "volume": 54857, "typical_volume": 67876.15, "trend": 85.180842, "fair_value": 94.615007, "relative_strength": -11.751928, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -1.599683, "energy": 5.450431, "activity_lines": [ 86.603881, 86.908101, 89.116243, 87.721308 ] }, { "date": "2026-05-01", "close": 77.974686, "volume": 126438, "typical_volume": 71590.05, "trend": 85.112615, "fair_value": 94.251158, "relative_strength": -17.488813, "stage": 4, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -29.779363, "energy": 20.744376, "activity_lines": [ 83.731815, 84.995949, 88.034809, 87.256395 ] }, { "date": "2026-05-08", "close": 78.900002, "volume": 121672, "typical_volume": 74357.05, "trend": 85.172699, "fair_value": 93.889626, "relative_strength": -17.393207, "stage": 4, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -26.710576, "energy": 38.449615, "activity_lines": [ 81.642533, 83.581657, 87.054032, 86.855581 ] }, { "date": "2026-05-15", "close": 78.900002, "volume": 85443, "typical_volume": 77753.0, "trend": 85.154809, "fair_value": 93.54014, "relative_strength": -16.710235, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -33.492737, "energy": 51.552364, "activity_lines": [ 79.946415, 82.5032, 86.099017, 86.450891 ] }, { "date": "2026-05-22", "close": 81.800003, "volume": 73495, "typical_volume": 79620.25, "trend": 85.194598, "fair_value": 93.245381, "relative_strength": -15.111387, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -30.572819, "energy": 47.524193, "activity_lines": [ 80.032492, 82.133672, 85.451525, 86.234452 ] }, { "date": "2026-05-29", "close": 79.5, "volume": 322290, "typical_volume": 93397.45, "trend": 85.277932, "fair_value": 92.904559, "relative_strength": -19.386392, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -31.782729, "energy": 40.848538, "activity_lines": [ 79.811647, 81.483753, 84.63639, 85.867058 ] }, { "date": "2026-06-05", "close": 76.199997, "volume": 16574, "typical_volume": 91835.4, "trend": 85.54367, "fair_value": 92.571494, "relative_strength": -21.53929, "stage": 4, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -67.506483, "energy": 54.514392, "activity_lines": [ 78.74, 80.246859, 83.562363, 85.281385 ] }, { "date": "2026-06-12", "close": 80.0, "volume": 25304, "typical_volume": 90675.75, "trend": 85.819113, "fair_value": 92.241105, "relative_strength": -19.568368, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -55.671857, "energy": 38.625666, "activity_lines": [ 79.053333, 79.862509, 82.912996, 84.923729 ] }, { "date": "2026-06-19", "close": 79.5, "volume": 30343, "typical_volume": 89604.05, "trend": 86.016159, "fair_value": 91.952081, "relative_strength": -22.932787, "stage": 1, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -55.357403, "energy": 44.225158, "activity_lines": [ 79.126666, 79.474477, 82.285268, 84.516044 ] }, { "date": "2026-06-26", "close": 77.5, "volume": 19185, "typical_volume": 88182.7, "trend": 85.889873, "fair_value": 91.640599, "relative_strength": -22.991793, "stage": 1, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -61.748322, "energy": 54.354382, "activity_lines": [ 78.493333, 78.934316, 81.532206, 83.966615 ] }, { "date": "2026-07-03", "close": 78.699997, "volume": 10505, "typical_volume": 86902.4, "trend": 85.85232, "fair_value": 91.342833, "relative_strength": -23.236532, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -54.704979, "energy": 39.648449, "activity_lines": [ 78.546665, 78.815903, 80.974129, 83.502752 ] }, { "date": "2026-07-10", "close": 77.699997, "volume": 75892, "typical_volume": 88806.05, "trend": 85.755442, "fair_value": 91.035042, "relative_strength": -22.829176, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -58.618896, "energy": 46.11405, "activity_lines": [ 78.319998, 78.598181, 80.403224, 82.976795 ] }, { "date": "2026-07-17", "close": 82.300003, "volume": 81138, "typical_volume": 89775.35, "trend": 85.688438, "fair_value": 90.778421, "relative_strength": -16.355094, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -40.115468, "energy": 26.608638, "activity_lines": [ 79.526666, 79.221818, 80.358053, 82.753864 ] }, { "date": "2026-07-24", "close": 80.900002, "volume": 98128, "typical_volume": 91202.2, "trend": 85.53578, "fair_value": 90.47187, "relative_strength": -18.570261, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -35.784121, "energy": 19.06586, "activity_lines": [ 80.113334, 79.529091, 80.251314, 82.444932 ] }, { "date": "2026-07-31", "close": 83.199997, "volume": 106548, "typical_volume": 93398.45, "trend": 85.222615, "fair_value": 90.171631, "relative_strength": -15.953547, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -23.487287, "energy": 16.822243, "activity_lines": [ 81.373333, 80.218181, 80.401676, 82.294237 ] }, { "date": "2026-08-07", "close": 86.800003, "volume": 62204, "typical_volume": 77505.3, "trend": 85.078185, "fair_value": 89.952289, "relative_strength": -14.585706, "stage": 1, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": 9.7226, "energy": 21.439468, "activity_lines": [ 83.453334, 81.536364, 80.924316, 82.396004 ] } ], "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." } } }