{
  "ticker": {
    "uuid": "3adc7aa6-67be-423d-a63c-aed0210ee7cd",
    "symbol": "5548",
    "name": "Ancang Construction Corp Ltd.",
    "exchange": "TWO",
    "country": "TW",
    "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": "2026-08-14",
    "benchmark": "^TWII",
    "stage": 1,
    "stage_name": "Basing",
    "phase": "1b",
    "phase_label": "Stage 1B \u00b7 Basing",
    "transition": "stage_1_building",
    "transition_label": "Base still building",
    "confidence": 64.796,
    "architecture_regime": "balance",
    "architecture_regime_label": "Balance",
    "architecture_modifier": "Upper balance after advance",
    "architecture_gate": "mixed",
    "architecture_direction": -9.027,
    "architecture_energy": 12.149,
    "architecture_maturity": 14.806,
    "architecture_confidence": 59.381,
    "architecture_tenure": "Developing",
    "architecture": {
      "interpretation": {
        "headline": "Directional pressure has compressed into balance.",
        "body": "Trend and Activity are compressed into balance, so neither side has durable control. Prior structure and the next directional change provide context; balance alone is not assumed to be a base."
      },
      "scores": {
        "balance": 66.33,
        "rotation_up": 28.58,
        "upward_expansion": 18.7,
        "deceleration": 54.19,
        "rotation_down": 38.53,
        "downward_expansion": 36.7
      },
      "activity_lines": [
        20.691014,
        20.750367,
        20.748481,
        20.81524
      ],
      "activity_state": "Compressed",
      "activity_direction": "Expanding",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.0
    },
    "latest_close": 20.6,
    "trend_reference": 20.809758,
    "distance_from_trend": -0.01008,
    "trend_direction": "Improving",
    "fair_value": 22.254871,
    "distance_from_fair_value": -0.07436,
    "fair_value_direction": "Weakening",
    "relative_strength": -29.358884,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.012227,
    "excess_performance": -0.429145,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.01008,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.006625,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.07436,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.02246,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.293589,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.047925,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.012227,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.095853,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 288102,
      "relative_activity": 1.070296,
      "balance": 1.095853,
      "dry_up": 0.832178,
      "accumulation_observations": 2,
      "distribution_observations": 4
    },
    "risk": {
      "range_context": 0.025504,
      "annualized_volatility": 0.145841,
      "from_high_reference": -0.107085,
      "from_low_reference": 0.105114
    },
    "levels": {
      "trend_reference": 20.809758,
      "fair_value_reference": 22.254871,
      "structural_low": 19.430098,
      "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": 9,
        "median_return": -0.015152,
        "positive_rate": 0.333333,
        "directional_follow_through": 0.333333,
        "median_excess_return": -0.06305,
        "regime_survival": 0.666667,
        "best_return": 0.096703,
        "worst_return": -0.107383,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 4,
        "median_return": -0.005845,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": -0.126635,
        "regime_survival": 0.25,
        "best_return": 0.017316,
        "worst_return": -0.118098,
        "sufficient": false
      },
      {
        "horizon": "Extended",
        "sample_count": 2,
        "median_return": -0.045385,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": -0.202254,
        "regime_survival": 0.0,
        "best_return": 0.026749,
        "worst_return": -0.117519,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 1,
        "median_return": -0.204278,
        "positive_rate": 0.0,
        "directional_follow_through": 0.0,
        "median_excess_return": -0.297925,
        "regime_survival": 0.0,
        "best_return": -0.204278,
        "worst_return": -0.204278,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-05-17",
        "end": "2024-05-31",
        "tenure": "New",
        "return": -0.030026,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-06-07",
        "end": "2024-07-26",
        "tenure": "Developing",
        "return": -0.060811,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2024-08-02",
        "end": "2024-08-16",
        "tenure": "New",
        "return": 0.07278,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2024-08-23",
        "end": "2024-12-13",
        "tenure": "Established",
        "return": -0.085289,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-12-20",
        "end": "2025-09-19",
        "tenure": "Extended",
        "return": -0.029193,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-09-26",
        "end": "2025-10-17",
        "tenure": "New",
        "return": -0.065844,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-10-24",
        "end": "2025-12-26",
        "tenure": "Developing",
        "return": 0.045752,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2026-01-02",
        "end": "2026-01-23",
        "tenure": "New",
        "return": -0.04321,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2026-01-30",
        "end": "2026-03-27",
        "tenure": "Developing",
        "return": 0.108225,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2026-04-03",
        "end": "2026-05-15",
        "tenure": "Developing",
        "return": -0.06012,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2026-05-22",
        "end": "2026-06-26",
        "tenure": "Developing",
        "return": 0.004237,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2026-07-03",
        "end": "2026-08-14",
        "tenure": "Developing",
        "return": -0.009128,
        "active": true
      }
    ],
    "chart_path": [
      {
        "date": "2023-08-11",
        "close": 15.112059,
        "volume": 71907,
        "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": "2023-08-18",
        "close": 15.43512,
        "volume": 105265,
        "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": 15.578701,
        "volume": 163505,
        "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": 16.727362,
        "volume": 187086,
        "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": 15.90176,
        "volume": 42098,
        "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": 15.614596,
        "volume": 74100,
        "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": 15.363328,
        "volume": 61974,
        "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": 16.296614,
        "volume": 171978,
        "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": 16.224823,
        "volume": 146644,
        "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": 16.153032,
        "volume": 56208,
        "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": 16.224823,
        "volume": 152725,
        "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": 16.188929,
        "volume": 83200,
        "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": 16.799154,
        "volume": 429385,
        "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": 22.039915,
        "volume": 462394,
        "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": 22.614244,
        "volume": 223213,
        "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": 22.39887,
        "volume": 107627,
        "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": 22.901409,
        "volume": 524723,
        "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": 22.255287,
        "volume": 183399,
        "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": 22.9732,
        "volume": 170792,
        "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": 22.219391,
        "volume": 133356,
        "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": 22.614244,
        "volume": 117775,
        "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": 22.32708,
        "volume": 158875,
        "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": "2024-01-12",
        "close": 21.89633,
        "volume": 61285,
        "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": "2024-01-19",
        "close": 21.537374,
        "volume": 143273,
        "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": "2024-01-26",
        "close": 21.465584,
        "volume": 68319,
        "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": "2024-02-02",
        "close": 21.465584,
        "volume": 118032,
        "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": "2024-02-09",
        "close": 21.322002,
        "volume": 12219,
        "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": "2024-02-16",
        "close": 21.968122,
        "volume": 118693,
        "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": "2024-02-23",
        "close": 28.572916,
        "volume": 2316596,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2024-03-01",
        "close": 28.501123,
        "volume": 349879,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2024-03-08",
        "close": 27.819109,
        "volume": 1114062,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2024-03-15",
        "close": 26.132015,
        "volume": 576134,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2024-03-22",
        "close": 23.044991,
        "volume": 1041421,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2024-03-29",
        "close": 23.260365,
        "volume": 425813,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2024-04-05",
        "close": 23.116781,
        "volume": 218989,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2024-04-12",
        "close": 26.383284,
        "volume": 1677710,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2024-04-19",
        "close": 29.685684,
        "volume": 1574297,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2024-04-26",
        "close": 28.716501,
        "volume": 1004921,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2024-05-03",
        "close": 28.716501,
        "volume": 508544,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2024-05-10",
        "close": 27.998587,
        "volume": 787147,
        "typical_volume": null,
        "trend": null,
        "fair_value": null,
        "relative_strength": null,
        "stage": null,
        "regime": null,
        "modifier": null,
        "gate": null,
        "direction": null,
        "energy": null,
        "activity_lines": [
          null,
          null,
          null,
          null
        ]
      },
      {
        "date": "2024-05-17",
        "close": 27.49605,
        "volume": 367414,
        "typical_volume": 632181.15,
        "trend": 23.814354,
        "fair_value": 16.952835,
        "relative_strength": 15.638891,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 56.604424,
        "energy": 41.491613,
        "activity_lines": [
          28.182852,
          27.312655,
          26.269615,
          25.273839
        ]
      },
      {
        "date": "2024-05-24",
        "close": 27.137093,
        "volume": 178839,
        "typical_volume": 633179.35,
        "trend": 24.179293,
        "fair_value": 17.078567,
        "relative_strength": 11.704887,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 54.121683,
        "energy": 36.629357,
        "activity_lines": [
          27.720995,
          27.436658,
          26.466357,
          25.48821
        ]
      },
      {
        "date": "2024-05-31",
        "close": 26.67045,
        "volume": 143558,
        "typical_volume": 637293.0,
        "trend": 24.508336,
        "fair_value": 17.195541,
        "relative_strength": 10.932438,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 39.734569,
        "energy": 24.754133,
        "activity_lines": [
          27.273496,
          27.457543,
          26.595752,
          25.648929
        ]
      },
      {
        "date": "2024-06-07",
        "close": 26.562763,
        "volume": 215338,
        "typical_volume": 640896.25,
        "trend": 24.659098,
        "fair_value": 17.308399,
        "relative_strength": 6.305205,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 35.159596,
        "energy": 18.930921,
        "activity_lines": [
          26.926505,
          27.392931,
          26.692158,
          25.781473
        ]
      },
      {
        "date": "2024-06-14",
        "close": 26.490971,
        "volume": 66912,
        "typical_volume": 640825.9,
        "trend": 24.788322,
        "fair_value": 17.417715,
        "relative_strength": 2.306494,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 31.532216,
        "energy": 18.195379,
        "activity_lines": [
          26.699166,
          27.255222,
          26.757796,
          25.899658
        ]
      },
      {
        "date": "2024-06-21",
        "close": 26.41918,
        "volume": 107059,
        "typical_volume": 640277.25,
        "trend": 24.922332,
        "fair_value": 17.523615,
        "relative_strength": -1.814266,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 29.316557,
        "energy": 17.955197,
        "activity_lines": [
          26.548404,
          27.043112,
          26.792666,
          26.004875
        ]
      },
      {
        "date": "2024-06-28",
        "close": 26.203808,
        "volume": 81511,
        "typical_volume": 643741.85,
        "trend": 25.032412,
        "fair_value": 17.624547,
        "relative_strength": -2.11508,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 26.764593,
        "energy": 16.352326,
        "activity_lines": [
          26.397643,
          26.79119,
          26.783436,
          26.087551
        ]
      },
      {
        "date": "2024-07-05",
        "close": 25.378206,
        "volume": 130174,
        "typical_volume": 644315.9,
        "trend": 25.13651,
        "fair_value": 17.71367,
        "relative_strength": -7.645481,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 4.416744,
        "energy": 10.344003,
        "activity_lines": [
          26.0339,
          26.452465,
          26.67233,
          26.10986
        ]
      },
      {
        "date": "2024-07-12",
        "close": 25.988432,
        "volume": 259137,
        "typical_volume": 541442.95,
        "trend": 25.237017,
        "fair_value": 17.807701,
        "relative_strength": -7.184009,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 10.794189,
        "energy": 13.703867,
        "activity_lines": [
          25.959716,
          26.285387,
          26.603103,
          26.164823
        ]
      },
      {
        "date": "2024-07-19",
        "close": 25.234623,
        "volume": 104626,
        "typical_volume": 529180.3,
        "trend": 25.337525,
        "fair_value": 17.89115,
        "relative_strength": -6.080874,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": -0.745893,
        "energy": 13.966529,
        "activity_lines": [
          25.67255,
          26.030854,
          26.474391,
          26.164668
        ]
      },
      {
        "date": "2024-07-26",
        "close": 24.947462,
        "volume": 57180,
        "typical_volume": 476336.2,
        "trend": 25.415299,
        "fair_value": 17.969553,
        "relative_strength": -4.372691,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Momentum cooling",
        "gate": "mixed",
        "direction": -25.665693,
        "energy": 40.759419,
        "activity_lines": [
          25.373421,
          25.774364,
          26.333886,
          26.139503
        ]
      },
      {
        "date": "2024-08-02",
        "close": 24.660294,
        "volume": 102193,
        "typical_volume": 452639.15,
        "trend": 25.493073,
        "fair_value": 18.043078,
        "relative_strength": -3.755513,
        "stage": 3,
        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
        "direction": -29.419075,
        "energy": 47.934396,
        "activity_lines": [
          25.076684,
          25.512,
          26.179705,
          26.090793
        ]
      },
      {
        "date": "2024-08-09",
        "close": 25.844849,
        "volume": 321184,
        "typical_volume": 416627.3,
        "trend": 25.62469,
        "fair_value": 18.12788,
        "relative_strength": 1.179699,
        "stage": 3,
        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
        "direction": -18.964552,
        "energy": 33.88314,
        "activity_lines": [
          25.277699,
          25.510042,
          26.145348,
          26.113488
        ]
      },
      {
        "date": "2024-08-16",
        "close": 26.455074,
        "volume": 257920,
        "typical_volume": 408232.65,
        "trend": 25.788613,
        "fair_value": 18.217419,
        "relative_strength": -0.897648,
        "stage": 3,
        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
        "direction": -6.208101,
        "energy": 10.620838,
        "activity_lines": [
          25.651013,
          25.634044,
          26.155774,
          26.167061
        ]
      },
      {
        "date": "2024-08-23",
        "close": 26.347389,
        "volume": 71777,
        "typical_volume": 400872.05,
        "trend": 25.95134,
        "fair_value": 18.303908,
        "relative_strength": -0.838337,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": -1.846943,
        "energy": 6.801529,
        "activity_lines": [
          25.957323,
          25.740426,
          26.140733,
          26.203112
        ]
      },
      {
        "date": "2024-08-30",
        "close": 28.357542,
        "volume": 1334625,
        "typical_volume": 383717.8,
        "trend": 26.181072,
        "fair_value": 18.409736,
        "relative_strength": 5.744369,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "up",
        "direction": 50.180032,
        "energy": 35.873057,
        "activity_lines": [
          26.859499,
          26.214901,
          26.30175,
          26.35835
        ]
      },
      {
        "date": "2024-09-06",
        "close": 26.16221,
        "volume": 347772,
        "typical_volume": 322391.55,
        "trend": 26.342413,
        "fair_value": 18.490491,
        "relative_strength": 0.927853,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": 17.69377,
        "energy": 21.923123,
        "activity_lines": [
          26.802559,
          26.254981,
          26.244287,
          26.357133
        ]
      },
      {
        "date": "2024-09-13",
        "close": 26.656555,
        "volume": 113943,
        "typical_volume": 277842.65,
        "trend": 26.498694,
        "fair_value": 18.574677,
        "relative_strength": 0.816969,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": 10.684158,
        "energy": 16.903609,
        "activity_lines": [
          26.810273,
          26.385699,
          26.250682,
          26.377401
        ]
      },
      {
        "date": "2024-09-20",
        "close": 26.580502,
        "volume": 58158,
        "typical_volume": 255323.35,
        "trend": 26.43228,
        "fair_value": 18.656369,
        "relative_strength": -1.688104,
        "stage": 2,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": 9.870293,
        "energy": 14.421887,
        "activity_lines": [
          26.738522,
          26.479346,
          26.259644,
          26.382679
        ]
      },
      {
        "date": "2024-09-27",
        "close": 26.466423,
        "volume": 92579,
        "typical_volume": 220594.95,
        "trend": 26.364456,
        "fair_value": 18.735259,
        "relative_strength": -5.199088,
        "stage": 2,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": 13.362813,
        "energy": 7.004516,
        "activity_lines": [
          26.620383,
          26.541486,
          26.267913,
          26.384881
        ]
      },
      {
        "date": "2024-10-04",
        "close": 25.857998,
        "volume": 33233,
        "typical_volume": 203885.9,
        "trend": 26.299086,
        "fair_value": 18.806486,
        "relative_strength": -5.482049,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": -6.274178,
        "energy": 4.915699,
        "activity_lines": [
          26.291501,
          26.470608,
          26.225533,
          26.352207
        ]
      },
      {
        "date": "2024-10-11",
        "close": 25.781948,
        "volume": 75963,
        "typical_volume": 198742.1,
        "trend": 26.287417,
        "fair_value": 18.87555,
        "relative_strength": -8.458948,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": -11.311293,
        "energy": 9.719043,
        "activity_lines": [
          26.103904,
          26.369347,
          26.183709,
          26.318843
        ]
      },
      {
        "date": "2024-10-18",
        "close": 25.591814,
        "volume": 96141,
        "typical_volume": 196371.25,
        "trend": 26.372311,
        "fair_value": 18.941396,
        "relative_strength": -11.541786,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -41.093746,
        "energy": 23.797598,
        "activity_lines": [
          25.87828,
          26.213122,
          26.130231,
          26.273965
        ]
      },
      {
        "date": "2024-10-25",
        "close": 25.401682,
        "volume": 99700,
        "typical_volume": 190589.35,
        "trend": 26.443689,
        "fair_value": 19.004117,
        "relative_strength": -11.793414,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -51.867711,
        "energy": 33.270956,
        "activity_lines": [
          25.660262,
          26.026929,
          26.063782,
          26.211344
        ]
      },
      {
        "date": "2024-11-01",
        "close": 26.542475,
        "volume": 1045694,
        "typical_volume": 239528.45,
        "trend": 26.557878,
        "fair_value": 19.076601,
        "relative_strength": -5.749189,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -39.563692,
        "energy": 20.498468,
        "activity_lines": [
          25.901096,
          26.067305,
          26.111508,
          26.217717
        ]
      },
      {
        "date": "2024-11-08",
        "close": 27.264978,
        "volume": 731153,
        "typical_volume": 270733.15,
        "trend": 26.587268,
        "fair_value": 19.154586,
        "relative_strength": -6.125448,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -8.31095,
        "energy": 4.1984,
        "activity_lines": [
          26.377694,
          26.235498,
          26.227799,
          26.263337
        ]
      },
      {
        "date": "2024-11-15",
        "close": 26.809494,
        "volume": 513432,
        "typical_volume": 292329.2,
        "trend": 26.491395,
        "fair_value": 19.226802,
        "relative_strength": -4.199471,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": 15.802253,
        "energy": 11.590771,
        "activity_lines": [
          26.608666,
          26.340741,
          26.296683,
          26.277674
        ]
      },
      {
        "date": "2024-11-22",
        "close": 26.364689,
        "volume": 182663,
        "typical_volume": 294953.65,
        "trend": 26.413001,
        "fair_value": 19.293511,
        "relative_strength": -6.24155,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": 15.471162,
        "energy": 13.807562,
        "activity_lines": [
          26.622866,
          26.353341,
          26.32032,
          26.269499
        ]
      },
      {
        "date": "2024-11-29",
        "close": 26.283817,
        "volume": 156265,
        "typical_volume": 289810.05,
        "trend": 26.331912,
        "fair_value": 19.358236,
        "relative_strength": -3.634189,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": 15.997592,
        "energy": 12.971146,
        "activity_lines": [
          26.558584,
          26.356545,
          26.331558,
          26.261165
        ]
      },
      {
        "date": "2024-12-06",
        "close": 24.828098,
        "volume": 275697,
        "typical_volume": 298363.6,
        "trend": 26.226229,
        "fair_value": 19.408419,
        "relative_strength": -12.335849,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -42.560649,
        "energy": 22.318411,
        "activity_lines": [
          25.950253,
          26.100466,
          26.202749,
          26.164145
        ]
      },
      {
        "date": "2024-12-13",
        "close": 24.100237,
        "volume": 225469,
        "typical_volume": 306778.05,
        "trend": 26.113035,
        "fair_value": 19.451071,
        "relative_strength": -13.924237,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -62.476855,
        "energy": 49.564489,
        "activity_lines": [
          25.213593,
          25.741836,
          26.006556,
          26.026984
        ]
      },
      {
        "date": "2024-12-20",
        "close": 21.957096,
        "volume": 1754657,
        "typical_volume": 389401.25,
        "trend": 25.940369,
        "fair_value": 19.473648,
        "relative_strength": -19.435126,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -79.447819,
        "energy": 73.982117,
        "activity_lines": [
          23.973536,
          25.025504,
          25.610289,
          25.758859
        ]
      },
      {
        "date": "2024-12-27",
        "close": 21.997532,
        "volume": 650739,
        "typical_volume": 405879.0,
        "trend": 25.784605,
        "fair_value": 19.496183,
        "relative_strength": -21.547139,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -77.418689,
        "energy": 80.865386,
        "activity_lines": [
          23.070451,
          24.386066,
          25.230745,
          25.504482
        ]
      },
      {
        "date": "2025-01-03",
        "close": 21.795349,
        "volume": 224353,
        "typical_volume": 404200.65,
        "trend": 25.625691,
        "fair_value": 19.51653,
        "relative_strength": -20.61226,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -74.912885,
        "energy": 84.211431,
        "activity_lines": [
          22.391116,
          23.775219,
          24.850266,
          25.247111
        ]
      },
      {
        "date": "2025-01-10",
        "close": 21.512293,
        "volume": 164079,
        "typical_volume": 408815.75,
        "trend": 25.459735,
        "fair_value": 19.534036,
        "relative_strength": -21.599015,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -74.104244,
        "energy": 85.381469,
        "activity_lines": [
          21.916659,
          23.178477,
          24.465018,
          24.98173
        ]
      },
      {
        "date": "2025-01-17",
        "close": 21.795349,
        "volume": 174124,
        "typical_volume": 350790.7,
        "trend": 25.305607,
        "fair_value": 19.5537,
        "relative_strength": -20.681136,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -66.171943,
        "energy": 79.567222,
        "activity_lines": [
          21.757608,
          22.724657,
          24.129753,
          24.745318
        ]
      },
      {
        "date": "2025-01-24",
        "close": 22.03797,
        "volume": 161847,
        "typical_volume": 341494.45,
        "trend": 25.166746,
        "fair_value": 19.575116,
        "relative_strength": -20.755791,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -65.151093,
        "energy": 79.987052,
        "activity_lines": [
          21.83309,
          22.414398,
          23.848842,
          24.534503
        ]
      },
      {
        "date": "2025-02-07",
        "close": 23.089323,
        "volume": 377624,
        "typical_volume": 354678.5,
        "trend": 25.09045,
        "fair_value": 19.605152,
        "relative_strength": -16.530075,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -61.47284,
        "energy": 53.697098,
        "activity_lines": [
          22.253632,
          22.382048,
          23.6877,
          24.400476
        ]
      },
      {
        "date": "2025-02-14",
        "close": 23.655436,
        "volume": 535581,
        "typical_volume": 378549.65,
        "trend": 25.012683,
        "fair_value": 19.639476,
        "relative_strength": -13.058512,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -45.847649,
        "energy": 37.0485,
        "activity_lines": [
          22.790092,
          22.512181,
          23.597461,
          24.307894
        ]
      },
      {
        "date": "2025-02-21",
        "close": 23.978928,
        "volume": 310216,
        "typical_volume": 389431.5,
        "trend": 24.970827,
        "fair_value": 19.675942,
        "relative_strength": -13.774769,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -37.036217,
        "energy": 26.855192,
        "activity_lines": [
          23.310376,
          22.748919,
          23.551959,
          24.2412
        ]
      },
      {
        "date": "2025-02-28",
        "close": 23.251068,
        "volume": 100906,
        "typical_volume": 392815.15,
        "trend": 24.91428,
        "fair_value": 19.705735,
        "relative_strength": -13.218666,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -31.730427,
        "energy": 27.789802,
        "activity_lines": [
          23.423598,
          22.868759,
          23.448982,
          24.130248
        ]
      },
      {
        "date": "2025-03-07",
        "close": 23.412815,
        "volume": 297469,
        "typical_volume": 403890.45,
        "trend": 24.872698,
        "fair_value": 19.736372,
        "relative_strength": -10.071728,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -29.704681,
        "energy": 25.747504,
        "activity_lines": [
          23.493688,
          23.033446,
          23.373823,
          24.033379
        ]
      },
      {
        "date": "2025-03-14",
        "close": 22.321028,
        "volume": 547266,
        "typical_volume": 426446.7,
        "trend": 24.755237,
        "fair_value": 19.757558,
        "relative_strength": -11.315611,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -49.355179,
        "energy": 24.862659,
        "activity_lines": [
          23.108193,
          22.973159,
          23.205967,
          23.868755
        ]
      },
      {
        "date": "2025-03-21",
        "close": 22.846701,
        "volume": 510100,
        "typical_volume": 446966.7,
        "trend": 24.634958,
        "fair_value": 19.782673,
        "relative_strength": -9.759412,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -51.50123,
        "energy": 31.961551,
        "activity_lines": [
          22.949142,
          23.002567,
          23.103749,
          23.745624
        ]
      },
      {
        "date": "2025-03-28",
        "close": 22.361462,
        "volume": 171894,
        "typical_volume": 403276.7,
        "trend": 24.502094,
        "fair_value": 19.803469,
        "relative_strength": -9.037745,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -62.935151,
        "energy": 43.883135,
        "activity_lines": [
          22.68226,
          22.924635,
          22.967485,
          23.598947
        ]
      },
      {
        "date": "2025-04-04",
        "close": 22.118841,
        "volume": 126228,
        "typical_volume": 373030.45,
        "trend": 24.294137,
        "fair_value": 19.821992,
        "relative_strength": -8.571317,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -67.083456,
        "energy": 60.733966,
        "activity_lines": [
          22.442335,
          22.78715,
          22.828024,
          23.445189
        ]
      },
      {
        "date": "2025-04-11",
        "close": 20.33963,
        "volume": 677427,
        "typical_volume": 381230.2,
        "trend": 24.100051,
        "fair_value": 19.826101,
        "relative_strength": -8.160054,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -84.670423,
        "energy": 76.160221,
        "activity_lines": [
          21.684822,
          22.32029,
          22.54362,
          23.190059
        ]
      },
      {
        "date": "2025-04-18",
        "close": 21.633604,
        "volume": 538455,
        "typical_volume": 399019.8,
        "trend": 23.932619,
        "fair_value": 19.840333,
        "relative_strength": -1.381402,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -61.101351,
        "energy": 63.09842,
        "activity_lines": [
          21.563513,
          22.119578,
          22.41326,
          23.030934
        ]
      },
      {
        "date": "2025-04-25",
        "close": 21.188801,
        "volume": 89683,
        "typical_volume": 395690.7,
        "trend": 23.752896,
        "fair_value": 19.850868,
        "relative_strength": -4.99758,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -64.454102,
        "energy": 57.045171,
        "activity_lines": [
          21.339764,
          21.864459,
          22.263067,
          22.853913
        ]
      },
      {
        "date": "2025-05-02",
        "close": 21.997532,
        "volume": 65865,
        "typical_volume": 385199.1,
        "trend": 23.603933,
        "fair_value": 19.867509,
        "relative_strength": -5.112407,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -58.22649,
        "energy": 44.363663,
        "activity_lines": [
          21.496118,
          21.801231,
          22.214158,
          22.740664
        ]
      },
      {
        "date": "2025-05-09",
        "close": 21.997532,
        "volume": 175579,
        "typical_volume": 382704.6,
        "trend": 23.475251,
        "fair_value": 19.883893,
        "relative_strength": -5.100057,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -52.609663,
        "energy": 33.72761,
        "activity_lines": [
          21.676735,
          21.774028,
          22.178727,
          22.637025
        ]
      },
      {
        "date": "2025-05-16",
        "close": 21.835785,
        "volume": 129895,
        "typical_volume": 301466.5,
        "trend": 23.343712,
        "fair_value": 19.898793,
        "relative_strength": -9.247819,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -39.923009,
        "energy": 25.432443,
        "activity_lines": [
          21.811524,
          21.740208,
          22.137905,
          22.531253
        ]
      },
      {
        "date": "2025-05-23",
        "close": 21.835785,
        "volume": 455450,
        "typical_volume": 291702.05,
        "trend": 23.218511,
        "fair_value": 19.913468,
        "relative_strength": -7.987658,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -35.482011,
        "energy": 18.782146,
        "activity_lines": [
          21.846568,
          21.735062,
          22.097661,
          22.433967
        ]
      },
      {
        "date": "2025-05-30",
        "close": 21.795349,
        "volume": 85945,
        "typical_volume": 284781.65,
        "trend": 23.0983,
        "fair_value": 19.927617,
        "relative_strength": -6.456505,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -35.018914,
        "energy": 18.567411,
        "activity_lines": [
          21.854656,
          21.731386,
          22.054336,
          22.34215
        ]
      },
      {
        "date": "2025-06-06",
        "close": 21.67404,
        "volume": 80163,
        "typical_volume": 280585.85,
        "trend": 22.936019,
        "fair_value": 19.94065,
        "relative_strength": -7.902687,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -36.66244,
        "energy": 20.32317,
        "activity_lines": [
          21.78187,
          21.724769,
          21.999458,
          22.250263
        ]
      },
      {
        "date": "2025-06-13",
        "close": 21.633604,
        "volume": 152299,
        "typical_volume": 279494.6,
        "trend": 22.748306,
        "fair_value": 19.95319,
        "relative_strength": -9.414543,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -47.752322,
        "energy": 24.743952,
        "activity_lines": [
          21.717172,
          21.723299,
          21.939958,
          22.166236
        ]
      },
      {
        "date": "2025-06-20",
        "close": 21.390984,
        "volume": 252369,
        "typical_volume": 284020.7,
        "trend": 22.567689,
        "fair_value": 19.963762,
        "relative_strength": -9.98901,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -52.567416,
        "energy": 28.348761,
        "activity_lines": [
          21.595863,
          21.686538,
          21.858123,
          22.078667
        ]
      },
      {
        "date": "2025-06-27",
        "close": 21.188801,
        "volume": 171948,
        "typical_volume": 273736.9,
        "trend": 22.39516,
        "fair_value": 19.972704,
        "relative_strength": -12.641485,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -56.037216,
        "energy": 31.925543,
        "activity_lines": [
          21.436812,
          21.593902,
          21.760112,
          21.989706
        ]
      },
      {
        "date": "2025-07-04",
        "close": 21.067492,
        "volume": 200076,
        "typical_volume": 256961.65,
        "trend": 22.221282,
        "fair_value": 19.980638,
        "relative_strength": -12.69831,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -57.63963,
        "energy": 38.125318,
        "activity_lines": [
          21.280458,
          21.487296,
          21.659598,
          21.90405
        ]
      },
      {
        "date": "2025-07-11",
        "close": 20.94618,
        "volume": 231719,
        "typical_volume": 253036.8,
        "trend": 22.091885,
        "fair_value": 19.987584,
        "relative_strength": -13.734686,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -63.893435,
        "energy": 57.033065,
        "activity_lines": [
          21.13219,
          21.36084,
          21.559854,
          21.821786
        ]
      },
      {
        "date": "2025-07-18",
        "close": 21.067492,
        "volume": 451077,
        "typical_volume": 270545.35,
        "trend": 21.990793,
        "fair_value": 19.995298,
        "relative_strength": -15.297195,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -61.227897,
        "energy": 62.32386,
        "activity_lines": [
          21.072883,
          21.275556,
          21.486106,
          21.755696
        ]
      },
      {
        "date": "2025-07-25",
        "close": 20.965208,
        "volume": 314303,
        "typical_volume": 271387.05,
        "trend": 21.95773,
        "fair_value": 20.002176,
        "relative_strength": -15.325253,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -63.413471,
        "energy": 63.510125,
        "activity_lines": [
          21.017222,
          21.188584,
          21.413014,
          21.689529
        ]
      },
      {
        "date": "2025-08-01",
        "close": 22.782552,
        "volume": 97663,
        "typical_volume": 248906.9,
        "trend": 21.983898,
        "fair_value": 20.021756,
        "relative_strength": -8.000268,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -10.502359,
        "energy": 7.505703,
        "activity_lines": [
          21.595728,
          21.447868,
          21.524658,
          21.742743
        ]
      },
      {
        "date": "2025-08-08",
        "close": 20.702047,
        "volume": 76225,
        "typical_volume": 227213.15,
        "trend": 21.947454,
        "fair_value": 20.026514,
        "relative_strength": -18.029661,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -53.681268,
        "energy": 23.50523,
        "activity_lines": [
          21.374482,
          21.311663,
          21.43596,
          21.660043
        ]
      },
      {
        "date": "2025-08-15",
        "close": 20.088003,
        "volume": 279959,
        "typical_volume": 232616.4,
        "trend": 21.899978,
        "fair_value": 20.026941,
        "relative_strength": -20.937664,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -72.685557,
        "energy": 37.589414,
        "activity_lines": [
          20.972918,
          21.083693,
          21.298995,
          21.540079
        ]
      },
      {
        "date": "2025-08-22",
        "close": 20.088003,
        "volume": 134206,
        "typical_volume": 233015.3,
        "trend": 21.843067,
        "fair_value": 20.027362,
        "relative_strength": -18.533509,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -71.656235,
        "energy": 44.815461,
        "activity_lines": [
          20.628565,
          20.88456,
          21.172856,
          21.423177
        ]
      },
      {
        "date": "2025-08-29",
        "close": 20.965208,
        "volume": 350070,
        "typical_volume": 216647.45,
        "trend": 21.807308,
        "fair_value": 20.033785,
        "relative_strength": -16.116657,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -57.024555,
        "energy": 59.19215,
        "activity_lines": [
          20.641914,
          20.87302,
          21.139931,
          21.366541
        ]
      },
      {
        "date": "2025-09-05",
        "close": 21.57925,
        "volume": 472811,
        "typical_volume": 213365.25,
        "trend": 21.756972,
        "fair_value": 20.044299,
        "relative_strength": -13.951802,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -42.896632,
        "energy": 35.299034,
        "activity_lines": [
          20.859943,
          20.980866,
          21.162507,
          21.351828
        ]
      },
      {
        "date": "2025-09-12",
        "close": 21.096788,
        "volume": 237390,
        "typical_volume": 220750.6,
        "trend": 21.671684,
        "fair_value": 20.05141,
        "relative_strength": -18.51149,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -35.84867,
        "energy": 19.343681,
        "activity_lines": [
          20.997372,
          20.993892,
          21.139394,
          21.309235
        ]
      },
      {
        "date": "2025-09-19",
        "close": 21.316092,
        "volume": 143742,
        "typical_volume": 224644.45,
        "trend": 21.582923,
        "fair_value": 20.059898,
        "relative_strength": -17.385994,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -26.031316,
        "energy": 15.682754,
        "activity_lines": [
          21.181585,
          21.046259,
          21.137604,
          21.286294
        ]
      },
      {
        "date": "2025-09-26",
        "close": 21.316092,
        "volume": 138310,
        "typical_volume": 222781.0,
        "trend": 21.518423,
        "fair_value": 20.068273,
        "relative_strength": -16.811515,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -20.779732,
        "energy": 15.428806,
        "activity_lines": [
          21.283927,
          21.091901,
          21.13906,
          21.269079
        ]
      },
      {
        "date": "2025-10-03",
        "close": 20.965208,
        "volume": 63287,
        "typical_volume": 219450.6,
        "trend": 21.436836,
        "fair_value": 20.074213,
        "relative_strength": -21.221867,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -27.039861,
        "energy": 13.168684,
        "activity_lines": [
          21.187434,
          21.069225,
          21.110343,
          21.233387
        ]
      },
      {
        "date": "2025-10-10",
        "close": 20.044142,
        "volume": 203504,
        "typical_volume": 206853.3,
        "trend": 21.36094,
        "fair_value": 20.074015,
        "relative_strength": -25.56277,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -58.485591,
        "energy": 30.59859,
        "activity_lines": [
          20.783919,
          20.879083,
          20.99805,
          21.143536
        ]
      },
      {
        "date": "2025-10-17",
        "close": 19.91256,
        "volume": 271506,
        "typical_volume": 216131.35,
        "trend": 21.263136,
        "fair_value": 20.07296,
        "relative_strength": -25.476594,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -61.154915,
        "energy": 50.711035,
        "activity_lines": [
          20.438885,
          20.714806,
          20.881758,
          21.050092
        ]
      },
      {
        "date": "2025-10-24",
        "close": 20.131863,
        "volume": 102359,
        "typical_volume": 217241.15,
        "trend": 21.188816,
        "fair_value": 20.073342,
        "relative_strength": -24.755051,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -55.919874,
        "energy": 56.759328,
        "activity_lines": [
          20.245899,
          20.604756,
          20.795318,
          20.977107
        ]
      },
      {
        "date": "2025-10-31",
        "close": 19.780981,
        "volume": 210011,
        "typical_volume": 220126.75,
        "trend": 21.110887,
        "fair_value": 20.071456,
        "relative_strength": -27.345549,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -65.685172,
        "energy": 68.266142,
        "activity_lines": [
          20.014902,
          20.430113,
          20.682804,
          20.886279
        ]
      },
      {
        "date": "2025-11-07",
        "close": 19.56168,
        "volume": 295221,
        "typical_volume": 222269.35,
        "trend": 21.084955,
        "fair_value": 20.068188,
        "relative_strength": -25.963118,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -71.27032,
        "energy": 72.894012,
        "activity_lines": [
          19.813145,
          20.221178,
          20.558226,
          20.78633
        ]
      },
      {
        "date": "2025-11-14",
        "close": 18.772194,
        "volume": 326987,
        "typical_volume": 230021.3,
        "trend": 20.989575,
        "fair_value": 20.117629,
        "relative_strength": -27.604435,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -83.287775,
        "energy": 80.962563,
        "activity_lines": [
          19.441795,
          19.89422,
          20.36717,
          20.63712
        ]
      },
      {
        "date": "2025-11-21",
        "close": 18.772194,
        "volume": 55116,
        "typical_volume": 222773.3,
        "trend": 20.909021,
        "fair_value": 20.17161,
        "relative_strength": -24.246919,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -78.025951,
        "energy": 82.505302,
        "activity_lines": [
          19.155241,
          19.618299,
          20.187622,
          20.494063
        ]
      },
      {
        "date": "2025-11-28",
        "close": 20.570465,
        "volume": 221445,
        "typical_volume": 222259.6,
        "trend": 20.861452,
        "fair_value": 20.239279,
        "relative_strength": -19.902522,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -56.903116,
        "energy": 47.48782,
        "activity_lines": [
          19.544135,
          19.711602,
          20.190267,
          20.472221
        ]
      },
      {
        "date": "2025-12-05",
        "close": 20.438885,
        "volume": 239936,
        "typical_volume": 211702.55,
        "trend": 20.809498,
        "fair_value": 20.307401,
        "relative_strength": -20.684261,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -44.508372,
        "energy": 31.979408,
        "activity_lines": [
          19.859929,
          19.794537,
          20.18217,
          20.444958
        ]
      },
      {
        "date": "2025-12-12",
        "close": 21.009069,
        "volume": 257730,
        "typical_volume": 208873.9,
        "trend": 20.78194,
        "fair_value": 20.379179,
        "relative_strength": -18.545848,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -14.557344,
        "energy": 16.081183,
        "activity_lines": [
          20.321924,
          19.997092,
          20.23137,
          20.457834
        ]
      },
      {
        "date": "2025-12-19",
        "close": 21.052927,
        "volume": 186220,
        "typical_volume": 213301.75,
        "trend": 20.755845,
        "fair_value": 20.444321,
        "relative_strength": -16.393252,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -5.921462,
        "energy": 24.287999,
        "activity_lines": [
          20.702046,
          20.206824,
          20.284538,
          20.475317
        ]
      },
      {
        "date": "2025-12-26",
        "close": 21.052927,
        "volume": 96314,
        "typical_volume": 214306.2,
        "trend": 20.731098,
        "fair_value": 20.510976,
        "relative_strength": -18.499618,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "mixed",
        "direction": 20.796902,
        "energy": 30.430518,
        "activity_lines": [
          20.930119,
          20.398214,
          20.345942,
          20.494483
        ]
      },
      {
        "date": "2026-01-02",
        "close": 21.316092,
        "volume": 202610,
        "typical_volume": 210438.75,
        "trend": 20.719166,
        "fair_value": 20.57975,
        "relative_strength": -19.337437,
        "stage": 4,
        "regime": "rotation_up",
        "modifier": "Structural repair",
        "gate": "mixed",
        "direction": 28.88308,
        "energy": 35.572378,
        "activity_lines": [
          21.093865,
          20.616718,
          20.430739,
          20.532225
        ]
      },
      {
        "date": "2026-01-09",
        "close": 21.009069,
        "volume": 190566,
        "typical_volume": 213256.75,
        "trend": 20.698348,
        "fair_value": 20.649366,
        "relative_strength": -22.537764,
        "stage": 4,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "mixed",
        "direction": 20.838386,
        "energy": 38.090397,
        "activity_lines": [
          21.105561,
          20.757869,
          20.480448,
          20.550928
        ]
      },
      {
        "date": "2026-01-16",
        "close": 20.702047,
        "volume": 168786,
        "typical_volume": 204192.55,
        "trend": 20.675384,
        "fair_value": 20.714637,
        "relative_strength": -25.952529,
        "stage": 4,
        "regime": "rotation_up",
        "modifier": "Emerging rotation",
        "gate": "mixed",
        "direction": 17.58166,
        "energy": 21.419584,
        "activity_lines": [
          20.976905,
          20.820868,
          20.49653,
          20.551167
        ]
      },
      {
        "date": "2026-01-23",
        "close": 20.395025,
        "volume": 217161,
        "typical_volume": 191410.05,
        "trend": 20.648924,
        "fair_value": 20.779668,
        "relative_strength": -27.839356,
        "stage": 4,
        "regime": "rotation_up",
        "modifier": "Emerging rotation",
        "gate": "mixed",
        "direction": -1.657487,
        "energy": 7.399839,
        "activity_lines": [
          20.766375,
          20.807311,
          20.484625,
          20.533079
        ]
      },
      {
        "date": "2026-01-30",
        "close": 20.263445,
        "volume": 362628,
        "typical_volume": 197671.95,
        "trend": 20.622123,
        "fair_value": 20.843424,
        "relative_strength": -28.056641,
        "stage": 4,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": -12.830332,
        "energy": 10.555699,
        "activity_lines": [
          20.555846,
          20.740325,
          20.465828,
          20.50821
        ]
      },
      {
        "date": "2026-02-06",
        "close": 20.351164,
        "volume": 187346,
        "typical_volume": 199852.15,
        "trend": 20.602289,
        "fair_value": 20.904716,
        "relative_strength": -26.555084,
        "stage": 4,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": -15.869902,
        "energy": 15.308634,
        "activity_lines": [
          20.427189,
          20.662174,
          20.459353,
          20.490728
        ]
      },
      {
        "date": "2026-02-13",
        "close": 20.702047,
        "volume": 113311,
        "typical_volume": 198602.2,
        "trend": 20.590108,
        "fair_value": 20.965664,
        "relative_strength": -28.703153,
        "stage": 4,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": -11.748818,
        "energy": 12.4029,
        "activity_lines": [
          20.479822,
          20.651807,
          20.490891,
          20.497164
        ]
      },
      {
        "date": "2026-02-27",
        "close": 20.438885,
        "volume": 173301,
        "typical_volume": 204102.9,
        "trend": 20.572563,
        "fair_value": 21.02687,
        "relative_strength": -32.554117,
        "stage": 4,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": -6.401224,
        "energy": 8.44895,
        "activity_lines": [
          20.465201,
          20.588808,
          20.500289,
          20.487408
        ]
      },
      {
        "date": "2026-03-06",
        "close": 19.956423,
        "volume": 233438,
        "typical_volume": 205599.6,
        "trend": 20.478359,
        "fair_value": 21.085415,
        "relative_strength": -29.936069,
        "stage": 4,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "down",
        "direction": -47.995323,
        "energy": 24.657745,
        "activity_lines": [
          20.307305,
          20.448455,
          20.466246,
          20.447657
        ]
      },
      {
        "date": "2026-03-13",
        "close": 20.745907,
        "volume": 411756,
        "typical_volume": 212612.1,
        "trend": 20.479821,
        "fair_value": 21.14686,
        "relative_strength": -26.031949,
        "stage": 4,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": -6.009054,
        "energy": 4.258989,
        "activity_lines": [
          20.441809,
          20.471581,
          20.507808,
          20.464918
        ]
      },
      {
        "date": "2026-03-20",
        "close": 20.965208,
        "volume": 244243,
        "typical_volume": 219706.3,
        "trend": 20.509061,
        "fair_value": 21.209711,
        "relative_strength": -24.897357,
        "stage": 4,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": 12.095866,
        "energy": 6.608453,
        "activity_lines": [
          20.61725,
          20.540163,
          20.566289,
          20.496233
        ]
      },
      {
        "date": "2026-03-27",
        "close": 22.456457,
        "volume": 971571,
        "typical_volume": 257784.3,
        "trend": 20.58801,
        "fair_value": 21.281473,
        "relative_strength": -17.842064,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "up",
        "direction": 74.769936,
        "energy": 60.211043,
        "activity_lines": [
          21.248838,
          20.88626,
          20.762824,
          20.621872
        ]
      },
      {
        "date": "2026-04-03",
        "close": 21.886272,
        "volume": 238753,
        "typical_volume": 254960.9,
        "trend": 20.618712,
        "fair_value": 21.349579,
        "relative_strength": -17.905638,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 64.086491,
        "energy": 66.584493,
        "activity_lines": [
          21.573403,
          21.102371,
          20.892317,
          20.705631
        ]
      },
      {
        "date": "2026-04-10",
        "close": 21.973993,
        "volume": 282340,
        "typical_volume": 252728.55,
        "trend": 20.63187,
        "fair_value": 21.418248,
        "relative_strength": -23.44629,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 64.877584,
        "energy": 71.870155,
        "activity_lines": [
          21.830716,
          21.3129,
          21.019093,
          20.793068
        ]
      },
      {
        "date": "2026-04-17",
        "close": 21.316092,
        "volume": 462965,
        "typical_volume": 273121.0,
        "trend": 20.63918,
        "fair_value": 21.482484,
        "relative_strength": -27.743204,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 61.19884,
        "energy": 67.384938,
        "activity_lines": [
          21.734225,
          21.375102,
          21.067967,
          20.837212
        ]
      },
      {
        "date": "2026-04-24",
        "close": 20.921349,
        "volume": 531441,
        "typical_volume": 288620.8,
        "trend": 20.626022,
        "fair_value": 21.53403,
        "relative_strength": -32.014889,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 54.742613,
        "energy": 38.036553,
        "activity_lines": [
          21.46814,
          21.346394,
          21.067131,
          20.855416
        ]
      },
      {
        "date": "2026-05-01",
        "close": 20.745907,
        "volume": 253726,
        "typical_volume": 289310.3,
        "trend": 20.607016,
        "fair_value": 21.589207,
        "relative_strength": -31.688714,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 31.868434,
        "energy": 16.248109,
        "activity_lines": [
          21.146498,
          21.27542,
          21.047916,
          20.863151
        ]
      },
      {
        "date": "2026-05-08",
        "close": 20.614326,
        "volume": 154776,
        "typical_volume": 284162.6,
        "trend": 20.59532,
        "fair_value": 21.642676,
        "relative_strength": -35.59679,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 17.095849,
        "energy": 19.003924,
        "activity_lines": [
          20.895032,
          21.179725,
          21.014708,
          20.863622
        ]
      },
      {
        "date": "2026-05-15",
        "close": 20.570465,
        "volume": 272261,
        "typical_volume": 288464.65,
        "trend": 20.612864,
        "fair_value": 21.696512,
        "relative_strength": -34.15137,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 12.971059,
        "energy": 21.481006,
        "activity_lines": [
          20.713743,
          21.072865,
          20.979202,
          20.862019
        ]
      },
      {
        "date": "2026-05-22",
        "close": 20.702047,
        "volume": 180775,
        "typical_volume": 292687.7,
        "trend": 20.63918,
        "fair_value": 21.752057,
        "relative_strength": -34.602802,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 15.104926,
        "energy": 20.920008,
        "activity_lines": [
          20.669882,
          20.978765,
          20.958525,
          20.867772
        ]
      },
      {
        "date": "2026-05-29",
        "close": 20.438885,
        "volume": 284399,
        "typical_volume": 296777.15,
        "trend": 20.649414,
        "fair_value": 21.804401,
        "relative_strength": -38.115509,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "mixed",
        "direction": -19.754007,
        "energy": 22.295038,
        "activity_lines": [
          20.579238,
          20.837615,
          20.914456,
          20.85485
        ]
      },
      {
        "date": "2026-06-05",
        "close": 20.482744,
        "volume": 396197,
        "typical_volume": 307058.7,
        "trend": 20.672806,
        "fair_value": 21.846652,
        "relative_strength": -37.525921,
        "stage": 1,
        "regime": "deceleration",
        "modifier": "Momentum cooling",
        "gate": "mixed",
        "direction": -19.597803,
        "energy": 26.227061,
        "activity_lines": [
          20.535377,
          20.714008,
          20.878741,
          20.844097
        ]
      },
      {
        "date": "2026-06-12",
        "close": 20.570465,
        "volume": 207533,
        "typical_volume": 308996.05,
        "trend": 20.706433,
        "fair_value": 21.893355,
        "relative_strength": -35.058901,
        "stage": 1,
        "regime": "deceleration",
        "modifier": "Momentum cooling",
        "gate": "mixed",
        "direction": -16.844373,
        "energy": 22.108675,
        "activity_lines": [
          20.538301,
          20.642237,
          20.853886,
          20.837495
        ]
      },
      {
        "date": "2026-06-19",
        "close": 20.921349,
        "volume": 91579,
        "typical_volume": 302716.95,
        "trend": 20.778071,
        "fair_value": 21.939282,
        "relative_strength": -36.310174,
        "stage": 1,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "mixed",
        "direction": 0.359101,
        "energy": 8.726393,
        "activity_lines": [
          20.66111,
          20.658186,
          20.863076,
          20.85136
        ]
      },
      {
        "date": "2026-06-26",
        "close": 20.789766,
        "volume": 353312,
        "typical_volume": 302251.15,
        "trend": 20.845323,
        "fair_value": 21.985014,
        "relative_strength": -33.105298,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "mixed",
        "direction": 1.479374,
        "energy": 5.199337,
        "activity_lines": [
          20.716666,
          20.66935,
          20.857228,
          20.852115
        ]
      },
      {
        "date": "2026-07-03",
        "close": 20.789766,
        "volume": 262312,
        "typical_volume": 305999.45,
        "trend": 20.852633,
        "fair_value": 22.03053,
        "relative_strength": -35.38356,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "down",
        "direction": -22.329541,
        "energy": 13.536003,
        "activity_lines": [
          20.766374,
          20.690084,
          20.848874,
          20.84853
        ]
      },
      {
        "date": "2026-07-10",
        "close": 20.877487,
        "volume": 239569,
        "typical_volume": 312312.35,
        "trend": 20.867254,
        "fair_value": 22.070019,
        "relative_strength": -32.171659,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "down",
        "direction": -24.253827,
        "energy": 16.264517,
        "activity_lines": [
          20.821931,
          20.72916,
          20.846785,
          20.850134
        ]
      },
      {
        "date": "2026-07-17",
        "close": 20.965208,
        "volume": 275637,
        "typical_volume": 317429.15,
        "trend": 20.865791,
        "fair_value": 22.112832,
        "relative_strength": -26.71177,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": 1.003701,
        "energy": 7.534581,
        "activity_lines": [
          20.880411,
          20.781792,
          20.852215,
          20.856453
        ]
      },
      {
        "date": "2026-07-24",
        "close": 20.85,
        "volume": 329661,
        "typical_volume": 322240.3,
        "trend": 20.859027,
        "fair_value": 22.150304,
        "relative_strength": -27.880813,
        "stage": 1,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": -3.170534,
        "energy": 6.912171,
        "activity_lines": [
          20.874173,
          20.807098,
          20.844167,
          20.855435
        ]
      },
      {
        "date": "2026-07-31",
        "close": 20.5,
        "volume": 140150,
        "typical_volume": 308660.0,
        "trend": 20.840596,
        "fair_value": 22.184842,
        "relative_strength": -27.321113,
        "stage": 1,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "down",
        "direction": -49.441266,
        "energy": 18.812715,
        "activity_lines": [
          20.756024,
          20.763685,
          20.798531,
          20.832272
        ]
      },
      {
        "date": "2026-08-07",
        "close": 20.799999,
        "volume": 138109,
        "typical_volume": 303353.3,
        "trend": 20.823393,
        "fair_value": 22.219462,
        "relative_strength": -27.025243,
        "stage": 1,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": -9.858005,
        "energy": 6.351423,
        "activity_lines": [
          20.757193,
          20.778491,
          20.782636,
          20.829652
        ]
      },
      {
        "date": "2026-08-14",
        "close": 20.6,
        "volume": 288102,
        "typical_volume": 269179.85,
        "trend": 20.809758,
        "fair_value": 22.254871,
        "relative_strength": -29.358884,
        "stage": 1,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": -9.027467,
        "energy": 12.148619,
        "activity_lines": [
          20.691014,
          20.750367,
          20.748481,
          20.81524
        ]
      }
    ],
    "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."
    }
  }
}