{ "ticker": { "uuid": "3acd899f-3cd2-434d-bff6-4399b448d2dd", "symbol": "CATHEM", "name": "Franklin Emerging Markets Sovereign Debt Values UCITS ETF", "exchange": "MIL", "country": "IT", "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": "FTSEMIB.MI", "stage": 3, "stage_name": "Distribution", "phase": "3b", "phase_label": "Stage 3B \u00b7 Distribution", "transition": "stage_3_churning", "transition_label": "Stage 3 range intact", "confidence": 80.516, "architecture_regime": "deceleration", "architecture_regime_label": "Deceleration", "architecture_modifier": "Recompressing", "architecture_gate": "up", "architecture_direction": 33.742, "architecture_energy": 19.85, "architecture_maturity": 53.229, "architecture_confidence": 70.373, "architecture_tenure": "New", "architecture": { "interpretation": { "headline": "The upward structure remains, but its energy is decelerating.", "body": "Trend remains positive, but Activity or price acceptance is losing strength. This can become a healthy recompression, a re-acceleration, or a Rotation Down." }, "scores": { "balance": 44.32, "rotation_up": 23.78, "upward_expansion": 59.87, "deceleration": 91.16, "rotation_down": 30.69, "downward_expansion": 16.87 }, "activity_lines": [ 27.653, 27.748545, 27.603619, 27.480667 ], "activity_state": "Compressed", "activity_direction": "Contracting", "rotation_direction": "Weakening", "price_acceptance": 0.0 }, "latest_close": 27.605, "trend_reference": 27.327667, "distance_from_trend": 0.010148, "trend_direction": "Improving", "fair_value": 26.163301, "distance_from_fair_value": 0.055104, "fair_value_direction": "Improving", "relative_strength": -12.835073, "relative_strength_direction": "Weakening", "price_momentum": 0.026972, "excess_performance": -0.14392, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.010148, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.009444, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.055104, "read": "Premium" }, { "label": "Fair Value direction", "positive": true, "value": 0.009514, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.128351, "read": "Lagging" }, { "label": "Relative strength direction", "positive": false, "value": -0.019406, "read": "Weakening" }, { "label": "Price momentum", "positive": true, "value": 0.026972, "read": "Positive" }, { "label": "Volume balance", "positive": false, "value": 0.378341, "read": "Supply-led" } ], "volume": { "latest": 2388, "relative_activity": 0.502901, "balance": 0.378341, "dry_up": 0.682065, "accumulation_observations": 1, "distribution_observations": 3 }, "risk": { "range_context": 0.013097, "annualized_volatility": 0.049106, "from_high_reference": -0.021966, "from_low_reference": 0.065419 }, "levels": { "trend_reference": 27.327667, "fair_value_reference": 26.163301, "structural_low": 25.91, "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": 6, "median_return": 0.005741, "positive_rate": 0.833333, "directional_follow_through": 0.833333, "median_excess_return": -0.012275, "regime_survival": 0.333333, "best_return": 0.022176, "worst_return": -0.006224, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 4, "median_return": 0.020417, "positive_rate": 0.75, "directional_follow_through": 0.75, "median_excess_return": -0.025858, "regime_survival": 0.25, "best_return": 0.03203, "worst_return": -0.005958, "sufficient": false }, { "horizon": "Extended", "sample_count": 3, "median_return": 0.040402, "positive_rate": 0.666667, "directional_follow_through": 0.666667, "median_excess_return": -0.108857, "regime_survival": 0.0, "best_return": 0.054195, "worst_return": -0.022928, "sufficient": false }, { "horizon": "Full cycle", "sample_count": 1, "median_return": 0.080289, "positive_rate": 1.0, "directional_follow_through": 1.0, "median_excess_return": -0.107028, "regime_survival": 0.0, "best_return": 0.080289, "worst_return": 0.080289, "sufficient": false } ], "ledger": [ { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2024-05-03", "end": "2024-05-17", "tenure": "New", "return": 0.005109, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2024-05-24", "end": "2024-11-08", "tenure": "Established", "return": 0.02832, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2024-11-15", "end": "2024-11-22", "tenure": "New", "return": 0.01729, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2024-11-29", "end": "2025-02-28", "tenure": "Established", "return": 0.003509, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2025-03-07", "end": "2025-04-11", "tenure": "Developing", "return": -0.060744, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-04-18", "end": "2025-08-01", "tenure": "Established", "return": 0.031342, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-08-08", "end": "2025-08-15", "tenure": "New", "return": 0.005156, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2025-08-22", "end": "2025-09-19", "tenure": "Developing", "return": 0.011626, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-09-26", "end": "2025-12-19", "tenure": "Established", "return": 0.008071, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2025-12-26", "end": "2026-02-20", "tenure": "Developing", "return": 0.017129, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-02-27", "end": "2026-04-03", "tenure": "Developing", "return": -0.015917, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-04-10", "end": "2026-06-05", "tenure": "Developing", "return": 0.016293, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-06-12", "end": "2026-07-31", "tenure": "Developing", "return": -0.004714, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2026-08-07", "end": "2026-08-07", "tenure": "New", "return": 0.0, "active": true } ], "chart_path": [ { "date": "2023-08-18", "close": 24.18, "volume": 454, "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": "2023-08-25", "close": 24.215, "volume": 229, "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": "2023-09-01", "close": 24.209999, "volume": 454, "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": "2023-09-08", "close": 24.209999, "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": "2023-09-15", "close": 24.440001, "volume": 227, "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": "2023-09-22", "close": 24.440001, "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": "2023-09-29", "close": 24.440001, "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": "2023-10-06", "close": 24.440001, "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": "2023-10-13", "close": 23.9, "volume": 14327, "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": "2023-10-20", "close": 23.9, "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": "2023-10-27", "close": 23.795, "volume": 908, "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": "2023-11-03", "close": 24.055, "volume": 98296, "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": "2023-11-10", "close": 24.094999, "volume": 46276, "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": "2023-11-17", "close": 24.215, "volume": 38087, "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": "2023-11-24", "close": 24.285, "volume": 18840, "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": "2023-12-01", "close": 24.48, "volume": 3136, "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": "2023-12-08", "close": 25.105, "volume": 5408, "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": "2023-12-15", "close": 25.41, "volume": 5165, "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": "2023-12-22", "close": 25.41, "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": "2023-12-29", "close": 25.25, "volume": 1476, "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": "2024-01-05", "close": 25.0, "volume": 19121, "typical_volume": 12597.5, "trend": 24.382167, "fair_value": 24.353875, "relative_strength": -5.517355, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 66.063374, "energy": 84.431067, "activity_lines": [ 25.210333, 24.972, 24.636691, 24.512247 ] }, { "date": "2024-01-12", "close": 25.219999, "volume": 15406, "typical_volume": 13356.35, "trend": 24.412833, "fair_value": 24.364568, "relative_strength": -4.575854, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 66.5437, "energy": 67.1706, "activity_lines": [ 25.205333, 25.061, 24.708619, 24.566301 ] }, { "date": "2024-01-19", "close": 25.174999, "volume": 14168, "typical_volume": 14042.05, "trend": 24.443167, "fair_value": 24.374451, "relative_strength": -3.926343, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 61.654499, "energy": 54.790633, "activity_lines": [ 25.177666, 25.120636, 24.771476, 24.615473 ] }, { "date": "2024-01-26", "close": 24.91, "volume": 454, "typical_volume": 14064.75, "trend": 24.4625, "fair_value": 24.380904, "relative_strength": -5.028667, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 47.420168, "energy": 40.393292, "activity_lines": [ 25.077333, 25.112454, 24.8045, 24.645591 ] }, { "date": "2024-02-02", "close": 24.91, "volume": 0, "typical_volume": 14053.4, "trend": 24.4885, "fair_value": 24.387202, "relative_strength": -5.889724, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 44.738513, "energy": 37.732307, "activity_lines": [ 25.010333, 25.091636, 24.83419, 24.674462 ] }, { "date": "2024-02-09", "close": 25.245001, "volume": 50812, "typical_volume": 16594.0, "trend": 24.528667, "fair_value": 24.397294, "relative_strength": -5.801819, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 55.927313, "energy": 39.550124, "activity_lines": [ 25.077667, 25.120364, 24.893548, 24.723269 ] }, { "date": "2024-02-16", "close": 25.254999, "volume": 104676, "typical_volume": 21827.8, "trend": 24.569167, "fair_value": 24.407267, "relative_strength": -7.316902, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 57.775885, "energy": 41.022005, "activity_lines": [ 25.132, 25.137, 24.950024, 24.770129 ] }, { "date": "2024-02-23", "close": 25.17, "volume": 51863, "typical_volume": 24420.95, "trend": 24.597, "fair_value": 24.416034, "relative_strength": -10.109838, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 58.78922, "energy": 44.283431, "activity_lines": [ 25.155667, 25.135454, 24.994524, 24.808892 ] }, { "date": "2024-03-01", "close": 25.145, "volume": 1359, "typical_volume": 23772.55, "trend": 24.624, "fair_value": 24.424318, "relative_strength": -10.626996, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 58.734944, "energy": 47.722764, "activity_lines": [ 25.171333, 25.133727, 25.033167, 24.844247 ] }, { "date": "2024-03-08", "close": 25.299999, "volume": 227, "typical_volume": 23783.9, "trend": 24.660167, "fair_value": 24.434157, "relative_strength": -11.087726, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 70.17643, "energy": 63.04692, "activity_lines": [ 25.223, 25.165, 25.080643, 24.88786 ] }, { "date": "2024-03-15", "close": 25.299999, "volume": 0, "typical_volume": 23738.5, "trend": 24.6975, "fair_value": 24.443778, "relative_strength": -12.077682, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 69.949289, "energy": 69.696964, "activity_lines": [ 25.248666, 25.195363, 25.121452, 24.92914 ] }, { "date": "2024-03-22", "close": 25.42, "volume": 1244, "typical_volume": 18885.9, "trend": 24.737667, "fair_value": 24.454505, "relative_strength": -12.321858, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 76.810355, "energy": 75.23768, "activity_lines": [ 25.310666, 25.242091, 25.166524, 24.975752 ] }, { "date": "2024-03-29", "close": 25.58, "volume": 500, "typical_volume": 16597.1, "trend": 24.783333, "fair_value": 24.466739, "relative_strength": -12.486053, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 83.617881, "energy": 85.549376, "activity_lines": [ 25.415, 25.314272, 25.220333, 25.030097 ] }, { "date": "2024-04-05", "close": 25.415001, "volume": 102430, "typical_volume": 19814.25, "trend": 24.8235, "fair_value": 24.476935, "relative_strength": -10.870448, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 64.772522, "energy": 77.715539, "activity_lines": [ 25.437, 25.349091, 25.251357, 25.070849 ] }, { "date": "2024-04-12", "close": 25.43, "volume": 450, "typical_volume": 18894.75, "trend": 24.8565, "fair_value": 24.487074, "relative_strength": -9.926177, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 64.914545, "energy": 74.409605, "activity_lines": [ 25.446, 25.377454, 25.278095, 25.109978 ] }, { "date": "2024-04-19", "close": 25.344999, "volume": 38468, "typical_volume": 20661.35, "trend": 24.886667, "fair_value": 24.496105, "relative_strength": -10.404442, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 61.301342, "energy": 54.40752, "activity_lines": [ 25.418, 25.380909, 25.291286, 25.141494 ] }, { "date": "2024-04-26", "close": 25.355, "volume": 532, "typical_volume": 20417.55, "trend": 24.917167, "fair_value": 24.505052, "relative_strength": -10.929317, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 56.079946, "energy": 43.478031, "activity_lines": [ 25.390333, 25.384363, 25.301309, 25.171709 ] }, { "date": "2024-05-03", "close": 25.445, "volume": 7404, "typical_volume": 20529.5, "trend": 24.950667, "fair_value": 24.514742, "relative_strength": -8.698597, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 50.738014, "energy": 36.824489, "activity_lines": [ 25.397, 25.402364, 25.318714, 25.205763 ] }, { "date": "2024-05-10", "close": 25.485001, "volume": 2510, "typical_volume": 20655.0, "trend": 25.0035, "fair_value": 24.524643, "relative_strength": -10.953913, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 64.336204, "energy": 43.756346, "activity_lines": [ 25.426, 25.422636, 25.339762, 25.240236 ] }, { "date": "2024-05-17", "close": 25.575001, "volume": 2532, "typical_volume": 20707.8, "trend": 25.059333, "fair_value": 24.535252, "relative_strength": -12.193608, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 73.04586, "energy": 52.50218, "activity_lines": [ 25.480334, 25.453091, 25.369024, 25.277107 ] }, { "date": "2024-05-24", "close": 25.6, "volume": 456, "typical_volume": 19774.55, "trend": 25.1195, "fair_value": 24.5459, "relative_strength": -9.443117, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 74.783575, "energy": 70.802664, "activity_lines": [ 25.533334, 25.483091, 25.399119, 25.311989 ] }, { "date": "2024-05-31", "close": 25.465, "volume": 10308, "typical_volume": 19519.65, "trend": 25.1665, "fair_value": 24.555, "relative_strength": -9.578719, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 60.798788, "energy": 53.644131, "activity_lines": [ 25.524334, 25.483091, 25.4135, 25.33428 ] }, { "date": "2024-06-07", "close": 25.565001, "volume": 2672, "typical_volume": 18944.85, "trend": 25.2155, "fair_value": 24.564902, "relative_strength": -9.32156, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 65.431758, "energy": 50.271931, "activity_lines": [ 25.541334, 25.500455, 25.436238, 25.359989 ] }, { "date": "2024-06-14", "close": 25.76, "volume": 3506, "typical_volume": 19097.45, "trend": 25.267, "fair_value": 24.576505, "relative_strength": -2.857647, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 79.244609, "energy": 55.299983, "activity_lines": [ 25.615334, 25.553546, 25.475691, 25.395118 ] }, { "date": "2024-06-21", "close": 25.889999, "volume": 16281, "typical_volume": 19911.5, "trend": 25.3205, "fair_value": 24.589135, "relative_strength": -3.994651, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 84.061469, "energy": 62.174023, "activity_lines": [ 25.714333, 25.624, 25.523476, 25.435312 ] }, { "date": "2024-06-28", "close": 25.889999, "volume": 14133, "typical_volume": 18077.55, "trend": 25.3675, "fair_value": 24.601524, "relative_strength": -3.360065, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 78.787843, "energy": 82.710214, "activity_lines": [ 25.792333, 25.686091, 25.566595, 25.472054 ] }, { "date": "2024-07-05", "close": 25.719999, "volume": 2968, "typical_volume": 12992.15, "trend": 25.388, "fair_value": 24.612075, "relative_strength": -6.10027, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 64.070947, "energy": 72.775107, "activity_lines": [ 25.794333, 25.707363, 25.590452, 25.494796 ] }, { "date": "2024-07-12", "close": 25.809999, "volume": 233, "typical_volume": 10410.65, "trend": 25.401333, "fair_value": 24.623271, "relative_strength": -7.182997, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 64.594658, "energy": 66.950302, "activity_lines": [ 25.809332, 25.738363, 25.620666, 25.522021 ] }, { "date": "2024-07-19", "close": 25.76, "volume": 27798, "typical_volume": 11732.6, "trend": 25.413, "fair_value": 24.633796, "relative_strength": -6.194523, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 60.848841, "energy": 49.023136, "activity_lines": [ 25.791333, 25.753636, 25.643071, 25.545161 ] }, { "date": "2024-07-26", "close": 25.780001, "volume": 1217, "typical_volume": 11782.1, "trend": 25.430667, "fair_value": 24.644312, "relative_strength": -4.857591, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 57.820697, "energy": 41.274839, "activity_lines": [ 25.78, 25.767545, 25.664452, 25.568839 ] }, { "date": "2024-08-02", "close": 26.26, "volume": 26018, "typical_volume": 13083.0, "trend": 25.472667, "fair_value": 24.659, "relative_strength": 2.417418, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 88.003613, "energy": 61.821553, "activity_lines": [ 25.936, 25.865, 25.729262, 25.622344 ] }, { "date": "2024-08-09", "close": 25.969999, "volume": 27217, "typical_volume": 14381.65, "trend": 25.497667, "fair_value": 24.670811, "relative_strength": 2.138024, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 59.704991, "energy": 49.141707, "activity_lines": [ 25.970666, 25.897727, 25.761881, 25.65443 ] }, { "date": "2024-08-16", "close": 25.969999, "volume": 0, "typical_volume": 14356.65, "trend": 25.524167, "fair_value": 24.682411, "relative_strength": -1.552756, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 60.592375, "energy": 52.040926, "activity_lines": [ 25.988666, 25.921272, 25.791881, 25.684903 ] }, { "date": "2024-08-23", "close": 26.055, "volume": 798, "typical_volume": 9275.05, "trend": 25.562333, "fair_value": 24.694557, "relative_strength": -2.821096, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 63.999671, "energy": 58.882021, "activity_lines": [ 26.024333, 25.952909, 25.828119, 25.71915 ] }, { "date": "2024-08-30", "close": 26.055, "volume": 0, "typical_volume": 9252.55, "trend": 25.6005, "fair_value": 24.706491, "relative_strength": -4.664924, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 62.251982, "energy": 49.203295, "activity_lines": [ 26.040333, 25.979182, 25.861309, 25.750935 ] }, { "date": "2024-09-06", "close": 26.215, "volume": 3593, "typical_volume": 7508.8, "trend": 25.632833, "fair_value": 24.719609, "relative_strength": -0.793846, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 74.697418, "energy": 58.784931, "activity_lines": [ 26.091333, 26.031545, 25.906762, 25.79058 ] }, { "date": "2024-09-13", "close": 26.434999, "volume": 12, "typical_volume": 7482.8, "trend": 25.672166, "fair_value": 24.734396, "relative_strength": -0.646437, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 85.132971, "energy": 82.032556, "activity_lines": [ 26.218666, 26.118, 25.969023, 25.842333 ] }, { "date": "2024-09-20", "close": 26.415001, "volume": 38, "typical_volume": 7114.5, "trend": 25.713667, "fair_value": 24.748761, "relative_strength": -1.117229, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 79.202308, "energy": 87.663556, "activity_lines": [ 26.308333, 26.187818, 26.024238, 25.890258 ] }, { "date": "2024-09-27", "close": 26.455, "volume": 8027, "typical_volume": 7390.35, "trend": 25.757333, "fair_value": 24.76322, "relative_strength": -3.476504, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 77.271738, "energy": 88.791492, "activity_lines": [ 26.381667, 26.253909, 26.078643, 25.938086 ] }, { "date": "2024-10-04", "close": 26.620001, "volume": 48871, "typical_volume": 9707.3, "trend": 25.801333, "fair_value": 24.778823, "relative_strength": 0.612977, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 84.867291, "energy": 93.133113, "activity_lines": [ 26.483334, 26.337364, 26.144143, 25.993742 ] }, { "date": "2024-10-11", "close": 26.620001, "volume": 0, "typical_volume": 9684.5, "trend": 25.845333, "fair_value": 24.794167, "relative_strength": -1.311052, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 79.027567, "energy": 90.944915, "activity_lines": [ 26.547334, 26.405546, 26.204667, 26.046559 ] }, { "date": "2024-10-18", "close": 26.674999, "volume": 5430, "typical_volume": 9440.6, "trend": 25.887167, "fair_value": 24.809711, "relative_strength": -3.350134, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 77.39675, "energy": 83.726939, "activity_lines": [ 26.602667, 26.477182, 26.265571, 26.100086 ] }, { "date": "2024-10-25", "close": 26.379999, "volume": 4260, "typical_volume": 9520.0, "trend": 25.913833, "fair_value": 24.822582, "relative_strength": -2.972609, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 65.601897, "energy": 59.915462, "activity_lines": [ 26.543666, 26.482364, 26.292619, 26.131882 ] }, { "date": "2024-11-01", "close": 26.235001, "volume": 72013, "typical_volume": 12945.35, "trend": 25.941167, "fair_value": 24.834065, "relative_strength": -3.031324, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 51.29687, "energy": 44.910432, "activity_lines": [ 26.438667, 26.453727, 26.301976, 26.152602 ] }, { "date": "2024-11-08", "close": 26.325001, "volume": 12753, "typical_volume": 12768.95, "trend": 25.971, "fair_value": 24.846089, "relative_strength": -0.062373, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 45.017098, "energy": 33.962886, "activity_lines": [ 26.378334, 26.438182, 26.317643, 26.177366 ] }, { "date": "2024-11-15", "close": 26.605, "volume": 293, "typical_volume": 12076.95, "trend": 26.013, "fair_value": 24.86016, "relative_strength": -0.001477, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 56.182301, "energy": 31.005772, "activity_lines": [ 26.431, 26.468637, 26.357905, 26.218269 ] }, { "date": "2024-11-22", "close": 27.065001, "volume": 55229, "typical_volume": 14690.0, "trend": 26.07, "fair_value": 24.877659, "relative_strength": 3.888238, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 86.061586, "energy": 57.489866, "activity_lines": [ 26.638001, 26.575637, 26.438572, 26.28614 ] }, { "date": "2024-11-29", "close": 27.075001, "volume": 2807, "typical_volume": 14818.7, "trend": 26.124333, "fair_value": 24.894961, "relative_strength": 4.195269, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 83.717015, "energy": 81.281912, "activity_lines": [ 26.822334, 26.673001, 26.513786, 26.350979 ] }, { "date": "2024-12-06", "close": 27.165001, "volume": 36, "typical_volume": 13430.6, "trend": 26.180333, "fair_value": 24.912695, "relative_strength": 0.63489, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 82.201925, "energy": 91.629485, "activity_lines": [ 26.990334, 26.774728, 26.591548, 26.418118 ] }, { "date": "2024-12-13", "close": 27.195, "volume": 72, "typical_volume": 13373.35, "trend": 26.234333, "fair_value": 24.930388, "relative_strength": 0.48669, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 77.321677, "energy": 91.421082, "activity_lines": [ 27.106334, 26.869001, 26.665477, 26.483581 ] }, { "date": "2024-12-20", "close": 26.575001, "volume": 1046, "typical_volume": 12124.75, "trend": 26.266833, "fair_value": 24.943038, "relative_strength": 1.587808, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 65.105743, "energy": 64.236949, "activity_lines": [ 26.957667, 26.840092, 26.673619, 26.505559 ] }, { "date": "2024-12-27", "close": 26.695, "volume": 151, "typical_volume": 10771.45, "trend": 26.307833, "fair_value": 24.956412, "relative_strength": 0.993069, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 59.117926, "energy": 44.759844, "activity_lines": [ 26.851, 26.833819, 26.691691, 26.533183 ] }, { "date": "2025-01-03", "close": 27.055, "volume": 8770, "typical_volume": 11209.95, "trend": 26.3575, "fair_value": 24.972311, "relative_strength": 2.526648, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 60.460646, "energy": 39.425282, "activity_lines": [ 26.889, 26.892637, 26.740596, 26.581387 ] }, { "date": "2025-01-10", "close": 26.91, "volume": 620, "typical_volume": 11201.05, "trend": 26.395833, "fair_value": 24.98688, "relative_strength": -0.668391, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 41.557874, "energy": 24.704331, "activity_lines": [ 26.88, 26.912819, 26.770524, 26.617033 ] }, { "date": "2025-01-17", "close": 26.975, "volume": 76, "typical_volume": 11204.85, "trend": 26.432, "fair_value": 25.001716, "relative_strength": -3.452088, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 49.185586, "energy": 35.032845, "activity_lines": [ 26.909667, 26.932546, 26.802572, 26.654398 ] }, { "date": "2025-01-24", "close": 26.91, "volume": 3013, "typical_volume": 11175.85, "trend": 26.466, "fair_value": 25.015852, "relative_strength": -3.321549, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 54.927042, "energy": 40.756898, "activity_lines": [ 26.932333, 26.928637, 26.824048, 26.685237 ] }, { "date": "2025-01-31", "close": 26.91, "volume": 0, "typical_volume": 11175.25, "trend": 26.505667, "fair_value": 25.029779, "relative_strength": -3.86414, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 52.733385, "energy": 36.298067, "activity_lines": [ 26.932667, 26.919182, 26.842215, 26.713882 ] }, { "date": "2025-02-07", "close": 27.295, "volume": 3966, "typical_volume": 11371.65, "trend": 26.555167, "fair_value": 25.046314, "relative_strength": -3.847962, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 77.688542, "energy": 58.623562, "activity_lines": [ 27.047, 26.982546, 26.894786, 26.764807 ] }, { "date": "2025-02-14", "close": 27.120001, "volume": 3771, "typical_volume": 11158.85, "trend": 26.6005, "fair_value": 25.061341, "relative_strength": -6.591991, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 62.707117, "energy": 61.440074, "activity_lines": [ 27.087, 27.010091, 26.9265, 26.801248 ] }, { "date": "2025-02-21", "close": 27.120001, "volume": 0, "typical_volume": 8715.3, "trend": 26.645167, "fair_value": 25.076151, "relative_strength": -7.520494, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 63.198842, "energy": 70.625163, "activity_lines": [ 27.113001, 27.038455, 26.955048, 26.834764 ] }, { "date": "2025-02-28", "close": 27.17, "volume": 397, "typical_volume": 8735.15, "trend": 26.6755, "fair_value": 25.091107, "relative_strength": -7.77001, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 66.909118, "energy": 75.936927, "activity_lines": [ 27.146, 27.077273, 26.985977, 26.868624 ] }, { "date": "2025-03-07", "close": 26.34, "volume": 30223, "typical_volume": 9974.8, "trend": 26.687834, "fair_value": 25.099965, "relative_strength": -10.274292, "stage": 3, "regime": "rotation_down", "modifier": "Structural failure", "gate": "up", "direction": 4.31337, "energy": 7.281387, "activity_lines": [ 26.885, 26.954364, 26.935238, 26.846979 ] }, { "date": "2025-03-14", "close": 26.290001, "volume": 934, "typical_volume": 9808.5, "trend": 26.6985, "fair_value": 25.108345, "relative_strength": -10.440366, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -36.122799, "energy": 36.495837, "activity_lines": [ 26.645334, 26.828819, 26.881334, 26.821312 ] }, { "date": "2025-03-21", "close": 26.525, "volume": 6722, "typical_volume": 6543.95, "trend": 26.714167, "fair_value": 25.118252, "relative_strength": -10.384097, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -23.205628, "energy": 40.436431, "activity_lines": [ 26.551, 26.759909, 26.850238, 26.810119 ] }, { "date": "2025-03-28", "close": 26.360001, "volume": 11, "typical_volume": 5906.85, "trend": 26.724334, "fair_value": 25.126875, "relative_strength": -10.131897, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -34.457804, "energy": 49.383066, "activity_lines": [ 26.441334, 26.668, 26.802048, 26.787269 ] }, { "date": "2025-04-04", "close": 26.025, "volume": 4518, "typical_volume": 6118.1, "trend": 26.718, "fair_value": 25.133069, "relative_strength": -0.810392, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -58.816464, "energy": 80.815583, "activity_lines": [ 26.270667, 26.526364, 26.721786, 26.742151 ] }, { "date": "2025-04-11", "close": 24.74, "volume": 38545, "typical_volume": 5283.9, "trend": 26.6615, "fair_value": 25.130377, "relative_strength": -3.923405, "stage": 3, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -98.958625, "energy": 98.697984, "activity_lines": [ 25.748, 26.167182, 26.521905, 26.614538 ] }, { "date": "2025-04-18", "close": 25.365, "volume": 14881, "typical_volume": 5887.6, "trend": 26.6265, "fair_value": 25.131973, "relative_strength": -6.740343, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -80.139966, "energy": 92.106115, "activity_lines": [ 25.540333, 25.961091, 26.392619, 26.530893 ] }, { "date": "2025-04-25", "close": 25.5, "volume": 495, "typical_volume": 5910.55, "trend": 26.594667, "fair_value": 25.134459, "relative_strength": -9.545754, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -68.008084, "energy": 87.308641, "activity_lines": [ 25.439333, 25.814637, 26.284334, 26.458215 ] }, { "date": "2025-05-02", "close": 25.545, "volume": 632, "typical_volume": 5938.55, "trend": 26.558834, "fair_value": 25.137215, "relative_strength": -11.499739, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -66.435561, "energy": 80.688768, "activity_lines": [ 25.421667, 25.705818, 26.188262, 26.390495 ] }, { "date": "2025-05-09", "close": 25.65, "volume": 1012, "typical_volume": 5936.85, "trend": 26.5265, "fair_value": 25.140633, "relative_strength": -13.30231, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -63.054922, "energy": 59.804556, "activity_lines": [ 25.493333, 25.644727, 26.110048, 26.33186 ] }, { "date": "2025-05-16", "close": 25.995001, "volume": 3683, "typical_volume": 6113.45, "trend": 26.503834, "fair_value": 25.146291, "relative_strength": -14.734138, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -47.678607, "energy": 40.697512, "activity_lines": [ 25.705, 25.674, 26.069096, 26.29757 ] }, { "date": "2025-05-23", "close": 25.66, "volume": 1549, "typical_volume": 5752.4, "trend": 26.479834, "fair_value": 25.149671, "relative_strength": -13.109457, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -43.12718, "energy": 32.767596, "activity_lines": [ 25.721334, 25.648637, 25.999572, 26.243129 ] }, { "date": "2025-05-30", "close": 25.83, "volume": 1282, "typical_volume": 5785.5, "trend": 26.466334, "fair_value": 25.154118, "relative_strength": -13.660636, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -38.279407, "energy": 25.005193, "activity_lines": [ 25.774667, 25.665637, 25.952881, 26.201205 ] }, { "date": "2025-06-06", "close": 25.83, "volume": 2471, "typical_volume": 5905.25, "trend": 26.449834, "fair_value": 25.158506, "relative_strength": -14.532415, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -37.18975, "energy": 23.316607, "activity_lines": [ 25.806, 25.695273, 25.911334, 26.160151 ] }, { "date": "2025-06-13", "close": 25.665001, "volume": 3337, "typical_volume": 5921.45, "trend": 26.4185, "fair_value": 25.161774, "relative_strength": -12.261655, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -42.642417, "energy": 29.321553, "activity_lines": [ 25.763334, 25.704546, 25.859524, 26.109516 ] }, { "date": "2025-06-20", "close": 25.709999, "volume": 1607, "typical_volume": 6001.8, "trend": 26.373334, "fair_value": 25.165288, "relative_strength": -11.361631, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -41.462148, "energy": 26.931178, "activity_lines": [ 25.734667, 25.728546, 25.817929, 26.063807 ] }, { "date": "2025-06-27", "close": 25.59, "volume": 1666, "typical_volume": 5886.8, "trend": 26.323834, "fair_value": 25.177532, "relative_strength": -12.598285, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -56.92385, "energy": 34.585125, "activity_lines": [ 25.685, 25.713091, 25.770619, 26.013269 ] }, { "date": "2025-07-04", "close": 25.700001, "volume": 1170, "typical_volume": 5756.75, "trend": 26.275, "fair_value": 25.185353, "relative_strength": -11.707577, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -51.40548, "energy": 33.926883, "activity_lines": [ 25.676667, 25.713546, 25.741905, 25.973022 ] }, { "date": "2025-07-11", "close": 25.655001, "volume": 721, "typical_volume": 5792.8, "trend": 26.223667, "fair_value": 25.194071, "relative_strength": -12.621993, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -54.759993, "energy": 37.800023, "activity_lines": [ 25.662001, 25.702182, 25.715667, 25.933022 ] }, { "date": "2025-07-18", "close": 25.780001, "volume": 5492, "typical_volume": 6047.55, "trend": 26.197167, "fair_value": 25.202051, "relative_strength": -12.445413, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -43.486841, "energy": 31.720447, "activity_lines": [ 25.700667, 25.711546, 25.70831, 25.904398 ] }, { "date": "2025-07-25", "close": 25.790001, "volume": 1134, "typical_volume": 4593.1, "trend": 26.167, "fair_value": 25.206122, "relative_strength": -13.005921, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -29.339386, "energy": 21.670136, "activity_lines": [ 25.735001, 25.720364, 25.708524, 25.878129 ] }, { "date": "2025-08-01", "close": 26.16, "volume": 1135, "typical_volume": 4603.15, "trend": 26.137167, "fair_value": 25.210256, "relative_strength": -9.633647, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": 7.183801, "energy": 13.665235, "activity_lines": [ 25.887334, 25.800182, 25.746596, 25.877678 ] }, { "date": "2025-08-08", "close": 26.184999, "volume": 1476, "typical_volume": 4340.85, "trend": 26.113, "fair_value": 25.215256, "relative_strength": -12.764985, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": 13.867831, "energy": 27.99368, "activity_lines": [ 26.01, 25.875455, 25.787667, 25.880764 ] }, { "date": "2025-08-15", "close": 26.32, "volume": 1023, "typical_volume": 4391.45, "trend": 26.091167, "fair_value": 25.221122, "relative_strength": -14.045396, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 40.260507, "energy": 62.494502, "activity_lines": [ 26.145333, 25.968818, 25.843215, 25.894119 ] }, { "date": "2025-08-22", "close": 26.235001, "volume": 398, "typical_volume": 4185.45, "trend": 26.068667, "fair_value": 25.225449, "relative_strength": -15.238001, "stage": 4, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 31.761416, "energy": 65.893588, "activity_lines": [ 26.208, 26.037819, 25.890857, 25.903398 ] }, { "date": "2025-08-29", "close": 26.315001, "volume": 577, "typical_volume": 2287.05, "trend": 26.048834, "fair_value": 25.234519, "relative_strength": -12.418258, "stage": 4, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 45.346122, "energy": 73.653087, "activity_lines": [ 26.267, 26.111, 25.945119, 25.919291 ] }, { "date": "2025-09-05", "close": 26.504999, "volume": 204, "typical_volume": 1553.2, "trend": 26.0225, "fair_value": 25.244647, "relative_strength": -10.174332, "stage": 3, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 56.99054, "energy": 79.1187, "activity_lines": [ 26.354333, 26.207727, 26.009976, 25.948721 ] }, { "date": "2025-09-12", "close": 26.82, "volume": 393, "typical_volume": 1548.1, "trend": 26.0125, "fair_value": 25.256314, "relative_strength": -10.771542, "stage": 3, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 65.859826, "energy": 85.596586, "activity_lines": [ 26.523667, 26.345091, 26.099405, 26.000172 ] }, { "date": "2025-09-19", "close": 26.540001, "volume": 19470, "typical_volume": 2490.0, "trend": 25.993167, "fair_value": 25.267949, "relative_strength": -10.796137, "stage": 3, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "up", "direction": 67.266679, "energy": 85.038005, "activity_lines": [ 26.557334, 26.411182, 26.155881, 26.034205 ] }, { "date": "2025-09-26", "close": 26.639999, "volume": 748, "typical_volume": 2476.8, "trend": 25.9755, "fair_value": 25.285096, "relative_strength": -10.82689, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 70.981576, "energy": 86.318666, "activity_lines": [ 26.609667, 26.479364, 26.217143, 26.075936 ] }, { "date": "2025-10-03", "close": 26.68, "volume": 31, "typical_volume": 2294.2, "trend": 25.986834, "fair_value": 25.302596, "relative_strength": -11.529908, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 71.153921, "energy": 84.767209, "activity_lines": [ 26.648333, 26.539182, 26.2775, 26.121387 ] }, { "date": "2025-10-10", "close": 26.68, "volume": 0, "typical_volume": 2216.75, "trend": 25.999834, "fair_value": 25.320096, "relative_strength": -8.627637, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 68.580669, "energy": 68.784388, "activity_lines": [ 26.662667, 26.582818, 26.334595, 26.166108 ] }, { "date": "2025-10-17", "close": 26.92, "volume": 10, "typical_volume": 2153.15, "trend": 26.013, "fair_value": 25.341891, "relative_strength": -6.873853, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 84.407201, "energy": 77.142124, "activity_lines": [ 26.745333, 26.660636, 26.409691, 26.225473 ] }, { "date": "2025-10-24", "close": 27.139999, "volume": 242, "typical_volume": 2041.7, "trend": 26.039, "fair_value": 25.365096, "relative_strength": -7.415643, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 88.551267, "energy": 80.212258, "activity_lines": [ 26.894666, 26.765091, 26.500548, 26.298183 ] }, { "date": "2025-10-31", "close": 27.17, "volume": 117041, "typical_volume": 7726.9, "trend": 26.077167, "fair_value": 25.386474, "relative_strength": -8.465553, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 85.603354, "energy": 90.348353, "activity_lines": [ 27.014, 26.860091, 26.588024, 26.371151 ] }, { "date": "2025-11-07", "close": 26.995001, "volume": 19969, "typical_volume": 8645.0, "trend": 26.152334, "fair_value": 25.406474, "relative_strength": -8.126417, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 67.836918, "energy": 77.873331, "activity_lines": [ 27.039667, 26.906273, 26.651667, 26.430366 ] }, { "date": "2025-11-14", "close": 27.055, "volume": 44191, "typical_volume": 10771.25, "trend": 26.208667, "fair_value": 25.426859, "relative_strength": -9.762749, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 66.163102, "energy": 70.511147, "activity_lines": [ 27.064333, 26.951, 26.714905, 26.488602 ] }, { "date": "2025-11-21", "close": 27.25, "volume": 12271, "typical_volume": 11326.3, "trend": 26.267, "fair_value": 25.445513, "relative_strength": -5.822623, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 77.545488, "energy": 69.059174, "activity_lines": [ 27.129, 27.021182, 26.789738, 26.555785 ] }, { "date": "2025-11-28", "close": 27.24, "volume": 6638, "typical_volume": 11622.15, "trend": 26.3235, "fair_value": 25.461827, "relative_strength": -6.885772, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 72.973876, "energy": 66.665294, "activity_lines": [ 27.168333, 27.081727, 26.856238, 26.618559 ] }, { "date": "2025-12-05", "close": 27.030001, "volume": 15127, "typical_volume": 12103.9, "trend": 26.3695, "fair_value": 25.476923, "relative_strength": -7.344371, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 63.005508, "energy": 61.189119, "activity_lines": [ 27.131, 27.091364, 26.895191, 26.66414 ] }, { "date": "2025-12-12", "close": 26.915001, "volume": 2483, "typical_volume": 12171.35, "trend": 26.400167, "fair_value": 25.49125, "relative_strength": -7.484024, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 50.969854, "energy": 51.708918, "activity_lines": [ 27.064667, 27.073, 26.917238, 26.699334 ] }, { "date": "2025-12-19", "close": 26.855, "volume": 343, "typical_volume": 12131.75, "trend": 26.44, "fair_value": 25.505192, "relative_strength": -9.770508, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 45.387358, "energy": 38.605867, "activity_lines": [ 26.983667, 27.039455, 26.928214, 26.728678 ] }, { "date": "2025-12-26", "close": 26.855, "volume": 0, "typical_volume": 12057.95, "trend": 26.474167, "fair_value": 25.524583, "relative_strength": -8.992882, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 36.965869, "energy": 30.530868, "activity_lines": [ 26.916, 27.002728, 26.935881, 26.755452 ] }, { "date": "2026-01-02", "close": 26.73, "volume": 33308, "typical_volume": 13672.2, "trend": 26.504167, "fair_value": 25.543173, "relative_strength": -10.417369, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 19.653267, "energy": 26.789921, "activity_lines": [ 26.833, 26.944455, 26.928453, 26.771957 ] }, { "date": "2026-01-09", "close": 26.945, "volume": 4, "typical_volume": 13652.5, "trend": 26.546833, "fair_value": 25.563141, "relative_strength": -9.910565, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 16.912432, "energy": 19.800373, "activity_lines": [ 26.855667, 26.932727, 26.939548, 26.800398 ] }, { "date": "2026-01-16", "close": 27.115, "volume": 202, "typical_volume": 13633.75, "trend": 26.593667, "fair_value": 25.581635, "relative_strength": -9.097039, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 40.210421, "energy": 20.286062, "activity_lines": [ 26.940667, 26.956, 26.963453, 26.837054 ] }, { "date": "2026-01-23", "close": 26.91, "volume": 189, "typical_volume": 13633.0, "trend": 26.637667, "fair_value": 25.598622, "relative_strength": -7.445282, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 32.982492, "energy": 20.09715, "activity_lines": [ 26.944, 26.939818, 26.964024, 26.857462 ] }, { "date": "2026-01-30", "close": 26.790001, "volume": 40923, "typical_volume": 15659.5, "trend": 26.674, "fair_value": 25.61484, "relative_strength": -8.860898, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 10.977182, "energy": 13.278438, "activity_lines": [ 26.903667, 26.904455, 26.951238, 26.867291 ] }, { "date": "2026-02-06", "close": 26.879999, "volume": 272, "typical_volume": 14699.6, "trend": 26.714833, "fair_value": 25.631955, "relative_strength": -8.843278, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 25.597157, "energy": 16.024948, "activity_lines": [ 26.897667, 26.893818, 26.947167, 26.880581 ] }, { "date": "2026-02-13", "close": 26.995001, "volume": 760, "typical_volume": 14700.2, "trend": 26.755333, "fair_value": 25.64984, "relative_strength": -7.221731, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 32.790667, "energy": 14.863002, "activity_lines": [ 26.92, 26.910637, 26.952429, 26.898656 ] }, { "date": "2026-02-20", "close": 27.315001, "volume": 4110, "typical_volume": 14904.15, "trend": 26.806167, "fair_value": 25.669776, "relative_strength": -7.900219, "stage": 3, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "up", "direction": 63.108926, "energy": 39.506417, "activity_lines": [ 27.045667, 26.986273, 26.986476, 26.934764 ] }, { "date": "2026-02-27", "close": 27.33, "volume": 859, "typical_volume": 14947.1, "trend": 26.845167, "fair_value": 25.690353, "relative_strength": -8.948039, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 74.71156, "energy": 71.870096, "activity_lines": [ 27.163, 27.057364, 27.018929, 26.968559 ] }, { "date": "2026-03-06", "close": 27.4, "volume": 1380, "typical_volume": 15015.6, "trend": 26.885667, "fair_value": 25.711378, "relative_strength": -2.209189, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 75.918675, "energy": 81.271718, "activity_lines": [ 27.275667, 27.132546, 27.054953, 27.004355 ] }, { "date": "2026-03-13", "close": 27.4, "volume": 0, "typical_volume": 15003.5, "trend": 26.921667, "fair_value": 25.73109, "relative_strength": -2.390345, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 72.597805, "energy": 84.58154, "activity_lines": [ 27.347667, 27.197818, 27.088691, 27.037538 ] }, { "date": "2026-03-20", "close": 27.145, "volume": 502, "typical_volume": 9176.55, "trend": 26.952, "fair_value": 25.750705, "relative_strength": 0.172421, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 64.162766, "energy": 72.593231, "activity_lines": [ 27.3, 27.204546, 27.096905, 27.051946 ] }, { "date": "2026-03-27", "close": 26.695, "volume": 32592, "typical_volume": 9807.7, "trend": 26.964667, "fair_value": 25.766442, "relative_strength": -2.51715, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 13.572271, "energy": 10.506244, "activity_lines": [ 27.092333, 27.125818, 27.062381, 27.035366 ] }, { "date": "2026-04-03", "close": 26.895, "volume": 2126, "typical_volume": 7704.45, "trend": 26.977667, "fair_value": 25.78359, "relative_strength": -6.159553, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 16.560293, "energy": 16.721122, "activity_lines": [ 26.992667, 27.091091, 27.048333, 27.030871 ] }, { "date": "2026-04-10", "close": 27.004999, "volume": 370, "typical_volume": 7109.4, "trend": 26.983833, "fair_value": 25.801442, "relative_strength": -9.258356, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 0.845829, "energy": 18.160611, "activity_lines": [ 26.958666, 27.076636, 27.045524, 27.032634 ] }, { "date": "2026-04-17", "close": 27.245001, "volume": 20693, "typical_volume": 7812.15, "trend": 27.007333, "fair_value": 25.822404, "relative_strength": -10.405854, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 34.593943, "energy": 25.078021, "activity_lines": [ 27.031, 27.101909, 27.066738, 27.049484 ] }, { "date": "2026-04-24", "close": 27.219999, "volume": 744, "typical_volume": 7093.0, "trend": 27.026667, "fair_value": 25.843205, "relative_strength": -7.892053, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 39.596966, "energy": 17.216741, "activity_lines": [ 27.105333, 27.116, 27.085548, 27.063204 ] }, { "date": "2026-05-01", "close": 27.07, "volume": 367, "typical_volume": 6987.2, "trend": 27.039667, "fair_value": 25.86218, "relative_strength": -9.223087, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 41.594277, "energy": 23.142826, "activity_lines": [ 27.124666, 27.098727, 27.089167, 27.066 ] }, { "date": "2026-05-08", "close": 27.059999, "volume": 422, "typical_volume": 6991.15, "trend": 27.052333, "fair_value": 25.880128, "relative_strength": -10.894428, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 31.080252, "energy": 19.450078, "activity_lines": [ 27.115666, 27.084091, 27.091095, 27.067312 ] }, { "date": "2026-05-15", "close": 27.049999, "volume": 5375, "typical_volume": 7259.9, "trend": 27.056667, "fair_value": 25.898558, "relative_strength": -10.363775, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 26.667517, "energy": 12.308764, "activity_lines": [ 27.092333, 27.072545, 27.091095, 27.067161 ] }, { "date": "2026-05-22", "close": 27.33, "volume": 4795, "typical_volume": 5834.25, "trend": 27.063, "fair_value": 25.918269, "relative_strength": -9.881935, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 55.518412, "energy": 28.149103, "activity_lines": [ 27.159333, 27.118272, 27.116833, 27.084796 ] }, { "date": "2026-05-29", "close": 27.440001, "volume": 906, "typical_volume": 5879.35, "trend": 27.072, "fair_value": 25.937885, "relative_strength": -10.199844, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 57.951992, "energy": 39.599868, "activity_lines": [ 27.257333, 27.185273, 27.15019, 27.109118 ] }, { "date": "2026-06-05", "close": 27.445, "volume": 0, "typical_volume": 5869.25, "trend": 27.087, "fair_value": 25.9575, "relative_strength": -9.679372, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 57.851316, "energy": 53.403064, "activity_lines": [ 27.342333, 27.247818, 27.181667, 27.133183 ] }, { "date": "2026-06-12", "close": 27.575001, "volume": 0, "typical_volume": 5859.8, "trend": 27.104333, "fair_value": 25.978494, "relative_strength": -11.756901, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 64.539521, "energy": 64.875904, "activity_lines": [ 27.445667, 27.320364, 27.223952, 27.164667 ] }, { "date": "2026-06-19", "close": 27.940001, "volume": 0, "typical_volume": 3813.65, "trend": 27.127333, "fair_value": 26.002051, "relative_strength": -12.525039, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 80.485933, "energy": 77.77284, "activity_lines": [ 27.636334, 27.446909, 27.297833, 27.218581 ] }, { "date": "2026-06-26", "close": 27.940001, "volume": 7388, "typical_volume": 4169.45, "trend": 27.150667, "fair_value": 26.025192, "relative_strength": -9.537558, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 82.994308, "energy": 88.831906, "activity_lines": [ 27.767668, 27.556455, 27.366238, 27.271011 ] }, { "date": "2026-07-03", "close": 28.01, "volume": 219, "typical_volume": 4142.4, "trend": 27.183333, "fair_value": 26.050064, "relative_strength": -11.645389, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 81.105076, "energy": 91.945634, "activity_lines": [ 27.881667, 27.666091, 27.436262, 27.326452 ] }, { "date": "2026-07-10", "close": 27.93, "volume": 6017, "typical_volume": 4237.75, "trend": 27.217167, "fair_value": 26.075, "relative_strength": -11.243696, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 67.342438, "energy": 85.780453, "activity_lines": [ 27.931, 27.746819, 27.493833, 27.374624 ] }, { "date": "2026-07-17", "close": 27.889999, "volume": 244, "typical_volume": 4207.0, "trend": 27.251667, "fair_value": 26.09968, "relative_strength": -9.824762, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 65.444194, "energy": 82.725789, "activity_lines": [ 27.934667, 27.804637, 27.544667, 27.418032 ] }, { "date": "2026-07-24", "close": 27.76, "volume": 1543, "typical_volume": 4215.15, "trend": 27.281833, "fair_value": 26.121635, "relative_strength": -9.823218, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 61.897144, "energy": 54.829681, "activity_lines": [ 27.874, 27.823727, 27.580452, 27.450828 ] }, { "date": "2026-07-31", "close": 27.445, "volume": 8780, "typical_volume": 4654.15, "trend": 27.305667, "fair_value": 26.141571, "relative_strength": -11.109671, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 40.727581, "energy": 30.231639, "activity_lines": [ 27.720333, 27.772636, 27.584524, 27.461355 ] }, { "date": "2026-08-07", "close": 27.605, "volume": 2388, "typical_volume": 4748.45, "trend": 27.327667, "fair_value": 26.163301, "relative_strength": -12.835073, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 33.741853, "energy": 19.850455, "activity_lines": [ 27.653, 27.748545, 27.603619, 27.480667 ] } ], "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." } } }