{ "ticker": { "uuid": "3bef2693-8ba2-4491-bb2e-82500eec388b", "symbol": "688016", "name": "Shanghai MicroPort Endovascular MedTech Co., Ltd.", "exchange": "SHH", "country": "CN", "assetType": "equity" }, "methodBoundary": "Trend Architecture is a weekly structural classification, not a forecast, probability of return, recommendation or execution signal. Confidence measures geometric agreement and external confirmation only.", "analysis": { "eligible": true, "as_of": "2026-08-07", "benchmark": "000001.SS", "stage": 4, "stage_name": "Declining", "phase": "4b", "phase_label": "Stage 4B \u00b7 Declining", "transition": "stage_4_declining", "transition_label": "Stage 4 decline intact", "confidence": 70.339, "architecture_regime": "downward_expansion", "architecture_regime_label": "Downward Expansion", "architecture_modifier": "Early contraction", "architecture_gate": "down", "architecture_direction": -41.53, "architecture_energy": 25.798, "architecture_maturity": 40.53, "architecture_confidence": 81.775, "architecture_tenure": "New", "architecture": { "interpretation": { "headline": "The weekly architecture is expanding downward.", "body": "Trend and Activity show sustained negative alignment with weak price acceptance. Repair requires persistent improvement across the structure, not merely one strong observation." }, "scores": { "balance": 42.71, "rotation_up": 24.01, "upward_expansion": 14.46, "deceleration": 46.06, "rotation_down": 37.69, "downward_expansion": 64.46 }, "activity_lines": [ 92.081998, 91.419817, 93.869383, 95.803565 ], "activity_state": "Moderate", "activity_direction": "Contracting", "rotation_direction": "Improving", "price_acceptance": -0.5 }, "latest_close": 94.199997, "trend_reference": 97.54159, "distance_from_trend": -0.034258, "trend_direction": "Weakening", "fair_value": 102.569884, "distance_from_fair_value": -0.081602, "fair_value_direction": "Weakening", "relative_strength": -4.946726, "relative_strength_direction": "Improving", "price_momentum": -0.008734, "excess_performance": 0.03447, "evidence": [ { "label": "Price vs Trend", "positive": false, "value": -0.034258, "read": "Below" }, { "label": "Trend direction", "positive": false, "value": -0.010854, "read": "Falling" }, { "label": "Price vs current Fair Value", "positive": false, "value": -0.081602, "read": "Below anchor" }, { "label": "Fair Value direction", "positive": false, "value": -0.05156, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.049467, "read": "Lagging" }, { "label": "Relative strength direction", "positive": true, "value": 0.022573, "read": "Improving" }, { "label": "Price momentum", "positive": false, "value": -0.008734, "read": "Negative" }, { "label": "Volume balance", "positive": false, "value": 0.794117, "read": "Supply-led" } ], "volume": { "latest": 8059332, "relative_activity": 1.045622, "balance": 0.794117, "dry_up": 1.096879, "accumulation_observations": 3, "distribution_observations": 4 }, "risk": { "range_context": 0.064134, "annualized_volatility": 0.264303, "from_high_reference": -0.232681, "from_low_reference": 0.097902 }, "levels": { "trend_reference": 97.54159, "fair_value_reference": 102.569884, "structural_low": 85.800003, "invalidation": "Reclaiming a flat-to-rising Trend with improving relative strength is required before the declining diagnosis is repaired." }, "outcomes": [ { "horizon": "Near term", "sample_count": 27, "median_return": 0.036766, "positive_rate": 0.592593, "directional_follow_through": 0.407407, "median_excess_return": 0.041893, "regime_survival": 0.740741, "best_return": 0.402855, "worst_return": -0.220965, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 11, "median_return": 0.011976, "positive_rate": 0.727273, "directional_follow_through": 0.272727, "median_excess_return": 0.018296, "regime_survival": 0.363636, "best_return": 0.465497, "worst_return": -0.258453, "sufficient": true }, { "horizon": "Extended", "sample_count": 7, "median_return": 0.010259, "positive_rate": 0.571429, "directional_follow_through": 0.428571, "median_excess_return": -0.024231, "regime_survival": 0.285714, "best_return": 0.217996, "worst_return": -0.302153, "sufficient": true }, { "horizon": "Full cycle", "sample_count": 4, "median_return": -0.075125, "positive_rate": 0.5, "directional_follow_through": 0.5, "median_excess_return": -0.189364, "regime_survival": 0.5, "best_return": 0.06773, "worst_return": -0.32725, "sufficient": false } ], "ledger": [ { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2024-12-20", "end": "2025-01-17", "tenure": "Developing", "return": -0.032716, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2025-01-24", "end": "2025-03-07", "tenure": "Developing", "return": -0.130639, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2025-03-14", "end": "2025-04-11", "tenure": "Developing", "return": -0.045255, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-04-18", "end": "2025-07-18", "tenure": "Established", "return": 0.194171, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2025-07-25", "end": "2025-08-15", "tenure": "New", "return": 0.056113, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-08-22", "end": "2025-09-19", "tenure": "Developing", "return": -0.12403, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2025-09-26", "end": "2025-11-21", "tenure": "Developing", "return": -0.1523, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2025-11-28", "end": "2025-12-26", "tenure": "Developing", "return": -0.000535, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2026-01-02", "end": "2026-02-06", "tenure": "Developing", "return": 0.06895, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-02-13", "end": "2026-03-06", "tenure": "New", "return": 0.107581, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2026-03-13", "end": "2026-04-10", "tenure": "Developing", "return": -0.054191, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-04-17", "end": "2026-06-19", "tenure": "Developing", "return": -0.087169, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2026-06-26", "end": "2026-07-10", "tenure": "New", "return": 0.046352, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2026-07-17", "end": "2026-08-07", "tenure": "New", "return": 0.050401, "active": true } ], "chart_path": [ { "date": "2023-07-28", "close": 116.635452, "volume": 4212345, "typical_volume": 5035570.3, "trend": 116.663933, "fair_value": 146.702708, "relative_strength": -0.669957, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": 2.798692, "energy": 15.653879, "activity_lines": [ 114.004483, 111.436012, 110.153459, 112.418057 ] }, { "date": "2023-08-04", "close": 108.72081, "volume": 5765700, "typical_volume": 5063603.0, "trend": 116.314632, "fair_value": 146.261263, "relative_strength": -7.692386, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -15.732212, "energy": 11.137624, "activity_lines": [ 112.25022, 111.35081, 109.978603, 111.905598 ] }, { "date": "2023-08-11", "close": 101.483841, "volume": 4921831, "typical_volume": 4821504.9, "trend": 115.451701, "fair_value": 145.799384, "relative_strength": -11.320038, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -49.327359, "energy": 24.548652, "activity_lines": [ 108.502168, 109.902602, 109.165223, 110.948773 ] }, { "date": "2023-08-18", "close": 101.35598, "volume": 3920814, "typical_volume": 4723318.2, "trend": 114.333546, "fair_value": 145.231022, "relative_strength": -9.930238, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -51.919316, "energy": 41.417069, "activity_lines": [ 105.609085, 108.467878, 108.372742, 110.039371 ] }, { "date": "2023-08-25", "close": 100.051788, "volume": 3387201, "typical_volume": 4522661.75, "trend": 113.055055, "fair_value": 144.721207, "relative_strength": -9.278022, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -64.365504, "energy": 57.287152, "activity_lines": [ 102.94743, 106.770805, 107.490909, 109.117967 ] }, { "date": "2023-09-01", "close": 110.133682, "volume": 8292027, "typical_volume": 4549035.0, "trend": 112.142894, "fair_value": 144.320319, "relative_strength": -2.702984, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -47.445912, "energy": 46.459204, "activity_lines": [ 104.442133, 107.007814, 107.648308, 108.929492 ] }, { "date": "2023-09-08", "close": 112.850739, "volume": 4947304, "typical_volume": 4518004.55, "trend": 111.370906, "fair_value": 143.99259, "relative_strength": -0.230949, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -32.739695, "energy": 19.382619, "activity_lines": [ 107.275973, 107.677692, 108.104222, 108.975159 ] }, { "date": "2023-09-15", "close": 115.011604, "volume": 6395456, "typical_volume": 4427595.6, "trend": 110.892481, "fair_value": 143.6134, "relative_strength": 1.200061, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -10.013086, "energy": 10.268612, "activity_lines": [ 110.554772, 108.77951, 108.781454, 109.210043 ] }, { "date": "2023-09-22", "close": 111.693596, "volume": 4823675, "typical_volume": 4577816.8, "trend": 110.448063, "fair_value": 143.238819, "relative_strength": -2.500469, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 10.266492, "energy": 18.716222, "activity_lines": [ 111.825718, 109.276892, 109.115068, 109.261728 ] }, { "date": "2023-09-29", "close": 118.515015, "volume": 6672975, "typical_volume": 4697426.45, "trend": 110.371428, "fair_value": 143.009681, "relative_strength": 3.745178, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 38.500289, "energy": 38.424893, "activity_lines": [ 114.681295, 111.008256, 110.081929, 109.782176 ] }, { "date": "2023-10-13", "close": 121.916153, "volume": 5525841, "typical_volume": 4794359.2, "trend": 110.428973, "fair_value": 142.712711, "relative_strength": 6.864902, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 73.458866, "energy": 69.241061, "activity_lines": [ 117.439704, 113.239329, 111.307028, 110.526997 ] }, { "date": "2023-10-20", "close": 118.515015, "volume": 3600513, "typical_volume": 4827280.95, "trend": 110.40047, "fair_value": 142.473605, "relative_strength": 7.173048, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 61.6718, "energy": 66.341965, "activity_lines": [ 118.278902, 114.756001, 112.148327, 111.048677 ] }, { "date": "2023-10-27", "close": 122.715279, "volume": 5173485, "typical_volume": 4890233.45, "trend": 110.876647, "fair_value": 142.190848, "relative_strength": 9.509745, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 70.793385, "energy": 71.920966, "activity_lines": [ 120.140569, 116.85828, 113.330653, 111.843181 ] }, { "date": "2023-11-03", "close": 122.862312, "volume": 4583306, "typical_volume": 4924256.25, "trend": 111.349528, "fair_value": 141.882159, "relative_strength": 9.785142, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 67.822383, "energy": 70.972518, "activity_lines": [ 121.537669, 118.601267, 114.435499, 112.61645 ] }, { "date": "2023-11-10", "close": 131.844589, "volume": 6065607, "typical_volume": 5055824.25, "trend": 111.855934, "fair_value": 141.590937, "relative_strength": 17.884526, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 85.844974, "energy": 82.285863, "activity_lines": [ 125.184281, 121.586371, 116.286783, 113.938712 ] }, { "date": "2023-11-17", "close": 122.568245, "volume": 7211897, "typical_volume": 5276059.7, "trend": 111.992175, "fair_value": 141.357637, "relative_strength": 9.332544, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 63.660081, "energy": 65.463687, "activity_lines": [ 124.850139, 122.306815, 117.129667, 114.629829 ] }, { "date": "2023-11-24", "close": 125.304474, "volume": 4168069, "typical_volume": 5229539.9, "trend": 112.298654, "fair_value": 141.093113, "relative_strength": 12.278036, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 61.635384, "energy": 58.757328, "activity_lines": [ 125.384601, 123.298674, 118.157919, 115.488687 ] }, { "date": "2023-12-01", "close": 132.324081, "volume": 6225078, "typical_volume": 5256031.95, "trend": 113.069061, "fair_value": 140.995557, "relative_strength": 18.79432, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 74.90139, "energy": 60.680591, "activity_lines": [ 127.806302, 125.340392, 119.80563, 116.78065 ] }, { "date": "2023-12-08", "close": 124.984818, "volume": 5893177, "typical_volume": 5270997.6, "trend": 113.626984, "fair_value": 140.8557, "relative_strength": 14.327793, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 57.562616, "energy": 43.132196, "activity_lines": [ 127.140994, 125.732927, 120.671619, 117.549408 ] }, { "date": "2023-12-15", "close": 120.049355, "volume": 6297998, "typical_volume": 5404214.95, "trend": 114.137885, "fair_value": 140.651509, "relative_strength": 10.655407, "stage": 1, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 43.540442, "energy": 31.568067, "activity_lines": [ 124.689032, 124.986447, 121.002628, 117.963755 ] }, { "date": "2023-12-22", "close": 115.606171, "volume": 4455258, "typical_volume": 5416360.6, "trend": 114.346726, "fair_value": 140.53088, "relative_strength": 7.596334, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 26.770215, "energy": 16.421592, "activity_lines": [ 121.542358, 123.404217, 120.872088, 118.058483 ] }, { "date": "2023-12-29", "close": 124.428612, "volume": 3826169, "typical_volume": 5319384.05, "trend": 114.956839, "fair_value": 140.391444, "relative_strength": 13.208985, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 34.129983, "energy": 20.403853, "activity_lines": [ 121.800635, 123.540795, 121.586682, 118.708927 ] }, { "date": "2024-01-05", "close": 116.70578, "volume": 3247392, "typical_volume": 5235662.1, "trend": 115.396897, "fair_value": 140.250391, "relative_strength": 7.763708, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 18.849014, "energy": 17.778645, "activity_lines": [ 119.543026, 122.165702, 121.490968, 118.821762 ] }, { "date": "2024-01-12", "close": 113.132042, "volume": 3224830, "typical_volume": 5200862.9, "trend": 115.835676, "fair_value": 139.924824, "relative_strength": 6.137791, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -2.843332, "energy": 14.915425, "activity_lines": [ 117.135391, 120.250101, 120.982414, 118.675642 ] }, { "date": "2024-01-19", "close": 112.486343, "volume": 2986896, "typical_volume": 5180847.65, "trend": 116.064975, "fair_value": 139.615413, "relative_strength": 7.418513, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -21.672341, "energy": 22.455015, "activity_lines": [ 115.302708, 118.394015, 120.356288, 118.459556 ] }, { "date": "2024-01-26", "close": 112.518311, "volume": 3693180, "typical_volume": 4950905.3, "trend": 116.256554, "fair_value": 139.335076, "relative_strength": 4.764984, "stage": 1, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -23.252084, "energy": 33.61807, "activity_lines": [ 113.984882, 116.89571, 119.673994, 118.230739 ] }, { "date": "2024-02-02", "close": 101.44548, "volume": 4622684, "typical_volume": 4934674.3, "trend": 115.804776, "fair_value": 138.94867, "relative_strength": 0.960531, "stage": 1, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -41.067429, "energy": 56.261784, "activity_lines": [ 109.181969, 113.566888, 117.92579, 117.275186 ] }, { "date": "2024-02-09", "close": 113.796928, "volume": 7030159, "typical_volume": 4966409.45, "trend": 115.766418, "fair_value": 138.473973, "relative_strength": 8.025362, "stage": 1, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -21.881225, "energy": 38.041902, "activity_lines": [ 110.028415, 112.917584, 117.408224, 117.145648 ] }, { "date": "2024-02-23", "close": 110.651527, "volume": 5393093, "typical_volume": 4994880.35, "trend": 115.74319, "fair_value": 137.884416, "relative_strength": 0.438211, "stage": 1, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -29.280081, "energy": 33.663532, "activity_lines": [ 110.020317, 112.033247, 116.596881, 116.815655 ] }, { "date": "2024-03-01", "close": 121.148972, "volume": 6702326, "typical_volume": 4996347.9, "trend": 116.048566, "fair_value": 137.508564, "relative_strength": 9.168332, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -2.037668, "energy": 9.85382, "activity_lines": [ 113.676735, 113.318141, 116.790257, 117.164415 ] }, { "date": "2024-03-08", "close": 115.644524, "volume": 4502779, "typical_volume": 4945194.8, "trend": 116.015536, "fair_value": 137.116286, "relative_strength": 3.574641, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -4.300187, "energy": 7.812613, "activity_lines": [ 114.920828, 113.582233, 116.446857, 117.138348 ] }, { "date": "2024-03-15", "close": 116.0345, "volume": 4878704, "typical_volume": 5009104.35, "trend": 116.259325, "fair_value": 136.690663, "relative_strength": 3.539042, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -0.889474, "energy": 7.806521, "activity_lines": [ 116.0865, 113.916532, 116.170462, 117.139571 ] }, { "date": "2024-03-22", "close": 113.298264, "volume": 4255576, "typical_volume": 4963208.9, "trend": 116.653139, "fair_value": 136.289326, "relative_strength": 1.318493, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -2.238781, "energy": 8.626422, "activity_lines": [ 115.367491, 113.905955, 115.645286, 116.948535 ] }, { "date": "2024-03-29", "close": 117.492119, "volume": 4474339, "typical_volume": 4957760.55, "trend": 117.191011, "fair_value": 135.96591, "relative_strength": 5.200777, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -25.174606, "energy": 12.82299, "activity_lines": [ 116.079678, 114.719851, 115.564367, 117.002663 ] }, { "date": "2024-04-05", "close": 116.80806, "volume": 2628002, "typical_volume": 4785880.3, "trend": 117.749553, "fair_value": 135.578659, "relative_strength": 3.367039, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -25.935602, "energy": 12.135562, "activity_lines": [ 116.107806, 115.330099, 115.443872, 116.977956 ] }, { "date": "2024-04-12", "close": 107.685135, "volume": 4651000, "typical_volume": 4657835.45, "trend": 117.667935, "fair_value": 135.275832, "relative_strength": -3.257978, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -56.252924, "energy": 26.476275, "activity_lines": [ 113.384353, 114.203057, 114.52613, 116.328639 ] }, { "date": "2024-04-19", "close": 108.931778, "volume": 4943480, "typical_volume": 4696606.0, "trend": 117.537303, "fair_value": 134.925454, "relative_strength": -3.624053, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -52.711282, "energy": 33.776608, "activity_lines": [ 111.607074, 113.390552, 113.797987, 115.765016 ] }, { "date": "2024-04-26", "close": 111.802277, "volume": 6144182, "typical_volume": 4692561.2, "trend": 117.430325, "fair_value": 134.552207, "relative_strength": -1.869093, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -46.685381, "energy": 36.006348, "activity_lines": [ 111.260143, 112.963843, 113.421191, 115.395014 ] }, { "date": "2024-05-03", "close": 119.179901, "volume": 5458158, "typical_volume": 4670810.25, "trend": 117.679869, "fair_value": 134.156436, "relative_strength": 3.886884, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -22.532447, "energy": 16.539446, "activity_lines": [ 113.472152, 113.914786, 113.844748, 115.50789 ] }, { "date": "2024-05-10", "close": 120.701454, "volume": 9669792, "typical_volume": 4839399.95, "trend": 117.75275, "fair_value": 133.773448, "relative_strength": 3.264595, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -4.315288, "energy": 5.394388, "activity_lines": [ 116.078826, 114.987313, 114.440857, 115.702831 ] }, { "date": "2024-05-17", "close": 119.079987, "volume": 7054623, "typical_volume": 4969368.2, "trend": 117.658211, "fair_value": 133.362084, "relative_strength": 1.615104, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 12.970289, "energy": 17.201393, "activity_lines": [ 117.885452, 115.773165, 114.879436, 115.788459 ] }, { "date": "2024-05-24", "close": 109.368065, "volume": 7138827, "typical_volume": 5135001.1, "trend": 117.353313, "fair_value": 132.708158, "relative_strength": -4.871477, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -26.606768, "energy": 17.211776, "activity_lines": [ 115.695114, 114.73075, 114.376528, 115.253611 ] }, { "date": "2024-05-31", "close": 109.309975, "volume": 4746787, "typical_volume": 5209970.85, "trend": 116.906469, "fair_value": 132.078501, "relative_strength": -4.962328, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -49.464718, "energy": 19.654991, "activity_lines": [ 113.456327, 113.798981, 113.939805, 114.734686 ] }, { "date": "2024-06-07", "close": 105.756355, "volume": 6537962, "typical_volume": 5375627.45, "trend": 116.336271, "fair_value": 131.490061, "relative_strength": -7.059101, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -60.704656, "energy": 49.747907, "activity_lines": [ 110.199153, 112.293614, 113.199859, 114.015324 ] }, { "date": "2024-06-14", "close": 105.388405, "volume": 4429104, "typical_volume": 5447737.85, "trend": 115.454398, "fair_value": 130.861701, "relative_strength": -6.942937, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -62.663851, "energy": 59.920553, "activity_lines": [ 107.714232, 110.934724, 112.459993, 113.30901 ] }, { "date": "2024-06-21", "close": 101.863846, "volume": 4475002, "typical_volume": 5486828.95, "trend": 114.764251, "fair_value": 130.071273, "relative_strength": -9.162395, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -70.424453, "energy": 71.127845, "activity_lines": [ 105.075329, 109.142635, 111.418255, 112.4322 ] }, { "date": "2024-06-28", "close": 94.94059, "volume": 10961218, "typical_volume": 5803755.65, "trend": 113.752122, "fair_value": 129.220397, "relative_strength": -14.44753, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -84.344489, "energy": 82.356112, "activity_lines": [ 101.276416, 106.197615, 109.767894, 111.153254 ] }, { "date": "2024-07-05", "close": 96.770653, "volume": 13872930, "typical_volume": 6145894.2, "trend": 112.567008, "fair_value": 128.325548, "relative_strength": -12.255683, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -72.400981, "energy": 76.658006, "activity_lines": [ 99.049355, 103.839718, 108.322801, 110.057676 ] }, { "date": "2024-07-12", "close": 92.452087, "volume": 15380570, "typical_volume": 6645268.05, "trend": 111.482583, "fair_value": 127.511249, "relative_strength": -16.56816, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -77.787126, "energy": 81.101447, "activity_lines": [ 96.218728, 100.969929, 106.547493, 108.759939 ] }, { "date": "2024-07-19", "close": 93.827065, "volume": 8379304, "typical_volume": 6729116.95, "trend": 110.608507, "fair_value": 126.641896, "relative_strength": -15.443923, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -69.650994, "energy": 76.886108, "activity_lines": [ 94.733377, 98.836097, 104.989799, 107.620873 ] }, { "date": "2024-07-26", "close": 93.226715, "volume": 7362007, "typical_volume": 6872078.35, "trend": 109.862525, "fair_value": 125.521294, "relative_strength": -13.232243, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -68.496257, "energy": 69.633575, "activity_lines": [ 93.818666, 97.081736, 103.505034, 106.499467 ] }, { "date": "2024-08-02", "close": 94.892166, "volume": 7561238, "typical_volume": 7006205.05, "trend": 108.877977, "fair_value": 124.43495, "relative_strength": -11.998623, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -64.259217, "energy": 60.435814, "activity_lines": [ 94.034914, 96.100243, 102.285634, 105.533638 ] }, { "date": "2024-08-09", "close": 94.78566, "volume": 6464500, "typical_volume": 7116651.25, "trend": 108.147306, "fair_value": 123.453437, "relative_strength": -10.657234, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -61.425976, "energy": 50.012591, "activity_lines": [ 94.218888, 95.362584, 101.156769, 104.624456 ] }, { "date": "2024-08-16", "close": 92.577965, "volume": 4891898, "typical_volume": 7137529.2, "trend": 107.46217, "fair_value": 122.600097, "relative_strength": -13.219359, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -64.474687, "energy": 48.562684, "activity_lines": [ 93.799297, 94.487604, 99.905802, 103.619982 ] }, { "date": "2024-08-23", "close": 78.43129, "volume": 18081479, "typical_volume": 7910203.05, "trend": 106.327002, "fair_value": 121.773938, "relative_strength": -25.667068, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -86.997071, "energy": 66.965765, "activity_lines": [ 88.655756, 91.280109, 97.426172, 101.747022 ] }, { "date": "2024-08-30", "close": 83.514786, "volume": 11028267, "typical_volume": 8229066.4, "trend": 105.360218, "fair_value": 121.088358, "relative_strength": -20.387393, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -71.95008, "energy": 71.020998, "activity_lines": [ 86.233098, 89.487015, 95.613431, 100.275266 ] }, { "date": "2024-09-06", "close": 77.99556, "volume": 7983252, "typical_volume": 8381055.0, "trend": 104.578554, "fair_value": 120.440259, "relative_strength": -23.417034, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -78.662696, "energy": 84.7445, "activity_lines": [ 82.61816, 87.024044, 93.390146, 98.509805 ] }, { "date": "2024-09-13", "close": 78.150475, "volume": 6335042, "typical_volume": 8390598.0, "trend": 103.390339, "fair_value": 119.714697, "relative_strength": -21.256573, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -73.367404, "energy": 86.244817, "activity_lines": [ 80.181301, 84.897331, 91.32893, 96.804767 ] }, { "date": "2024-09-20", "close": 77.511406, "volume": 3289319, "typical_volume": 8282156.05, "trend": 102.285668, "fair_value": 119.122527, "relative_strength": -22.514134, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -71.74819, "energy": 82.582024, "activity_lines": [ 78.640431, 82.992973, 89.367098, 95.135159 ] }, { "date": "2024-09-27", "close": 91.967941, "volume": 10243431, "typical_volume": 8310838.0, "trend": 101.312967, "fair_value": 118.613395, "relative_strength": -18.199961, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -62.854504, "energy": 51.380497, "activity_lines": [ 82.922844, 83.988724, 88.980499, 94.469499 ] }, { "date": "2024-10-04", "close": 109.416481, "volume": 8177094, "typical_volume": 8366961.55, "trend": 101.105365, "fair_value": 118.283617, "relative_strength": -9.806069, "stage": 1, "regime": "rotation_up", "modifier": "Structural repair", "gate": "down", "direction": -7.780814, "energy": 13.87122, "activity_lines": [ 92.118993, 88.19074, 90.392493, 94.992306 ] }, { "date": "2024-10-11", "close": 99.530273, "volume": 29875358, "typical_volume": 9503788.1, "trend": 100.555224, "fair_value": 117.882913, "relative_strength": -14.603521, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "down", "direction": -13.569624, "energy": 23.22819, "activity_lines": [ 96.29296, 90.300903, 90.908959, 94.890687 ] }, { "date": "2024-10-18", "close": 99.065491, "volume": 18750056, "typical_volume": 10203951.55, "trend": 100.080799, "fair_value": 117.530748, "relative_strength": -15.737034, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "down", "direction": -3.196178, "energy": 25.895091, "activity_lines": [ 98.876352, 92.242232, 91.428007, 94.794576 ] }, { "date": "2024-10-25", "close": 103.519615, "volume": 19103877, "typical_volume": 10832247.3, "trend": 99.615049, "fair_value": 117.117167, "relative_strength": -12.576353, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 24.901451, "energy": 35.488272, "activity_lines": [ 101.550117, 94.915586, 92.420041, 95.016435 ] }, { "date": "2024-11-01", "close": 94.950264, "volume": 18231179, "typical_volume": 11522351.05, "trend": 98.886455, "fair_value": 116.63071, "relative_strength": -18.626972, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 17.342762, "energy": 23.455943, "activity_lines": [ 99.633552, 95.831937, 92.606597, 94.715481 ] }, { "date": "2024-11-08", "close": 101.858429, "volume": 18783915, "typical_volume": 12237796.7, "trend": 98.692232, "fair_value": 116.206281, "relative_strength": -16.769989, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 22.331015, "energy": 21.862577, "activity_lines": [ 99.820887, 97.703974, 93.50078, 94.907221 ] }, { "date": "2024-11-15", "close": 101.897789, "volume": 21504035, "typical_volume": 12764937.55, "trend": 98.457766, "fair_value": 115.875389, "relative_strength": -13.09573, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 20.317316, "energy": 19.255666, "activity_lines": [ 100.525212, 99.249646, 94.398736, 95.114031 ] }, { "date": "2024-11-22", "close": 100.776306, "volume": 13511516, "typical_volume": 12746866.85, "trend": 98.090233, "fair_value": 115.553894, "relative_strength": -11.934213, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 16.973917, "energy": 15.478741, "activity_lines": [ 100.697874, 100.156826, 95.156755, 95.263614 ] }, { "date": "2024-11-29", "close": 103.648872, "volume": 7609732, "typical_volume": 12358324.95, "trend": 97.572532, "fair_value": 115.290901, "relative_strength": -10.544208, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 32.069502, "energy": 24.323604, "activity_lines": [ 101.714005, 101.174912, 96.169277, 95.622236 ] }, { "date": "2024-12-06", "close": 109.226791, "volume": 20626569, "typical_volume": 12970688.2, "trend": 97.190043, "fair_value": 115.003832, "relative_strength": -7.287888, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 38.866007, "energy": 35.799912, "activity_lines": [ 104.580825, 102.731938, 97.659712, 96.374124 ] }, { "date": "2024-12-13", "close": 114.529251, "volume": 17679679, "typical_volume": 13486571.8, "trend": 97.038352, "fair_value": 114.648876, "relative_strength": -1.984249, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "up", "direction": 71.432096, "energy": 58.065623, "activity_lines": [ 108.263362, 104.939251, 99.581811, 97.492782 ] }, { "date": "2024-12-20", "close": 116.368881, "volume": 9776632, "typical_volume": 13597341.5, "trend": 97.271713, "fair_value": 114.295721, "relative_strength": 0.645112, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 70.273469, "energy": 64.68854, "activity_lines": [ 111.714389, 107.388082, 101.577672, 98.739913 ] }, { "date": "2024-12-27", "close": 113.752075, "volume": 7962078, "typical_volume": 13672220.4, "trend": 97.419783, "fair_value": 113.915799, "relative_strength": -2.206092, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 63.855111, "energy": 66.106666, "activity_lines": [ 113.328407, 109.054974, 103.222043, 99.803163 ] }, { "date": "2025-01-03", "close": 105.577042, "volume": 8241872, "typical_volume": 13839719.1, "trend": 97.413806, "fair_value": 113.576598, "relative_strength": -3.41467, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 59.490795, "energy": 53.386271, "activity_lines": [ 111.352363, 108.968468, 103.997524, 100.329437 ] }, { "date": "2025-01-10", "close": 103.570168, "volume": 7582722, "typical_volume": 13314781.25, "trend": 97.353198, "fair_value": 113.245315, "relative_strength": -3.577793, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 55.376318, "energy": 36.316698, "activity_lines": [ 108.578816, 108.479667, 104.519973, 100.726622 ] }, { "date": "2025-01-17", "close": 112.561737, "volume": 7308239, "typical_volume": 13128779.85, "trend": 97.709794, "fair_value": 112.967274, "relative_strength": 2.687931, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 51.583254, "energy": 30.55503, "activity_lines": [ 109.179568, 109.468972, 105.779053, 101.707818 ] }, { "date": "2025-01-24", "close": 104.671989, "volume": 10849955, "typical_volume": 13272115.0, "trend": 98.034174, "fair_value": 112.704924, "relative_strength": -4.417326, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 37.276836, "energy": 19.831999, "activity_lines": [ 107.28157, 108.829172, 106.14841, 102.156992 ] }, { "date": "2025-01-31", "close": 103.599686, "volume": 1079170, "typical_volume": 13009321.4, "trend": 98.261809, "fair_value": 112.37487, "relative_strength": -4.968898, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 33.51625, "energy": 18.647817, "activity_lines": [ 105.805932, 107.943967, 106.288612, 102.516057 ] }, { "date": "2025-02-07", "close": 106.255836, "volume": 4369367, "typical_volume": 13063323.8, "trend": 98.721934, "fair_value": 112.135742, "relative_strength": -3.822589, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 32.386457, "energy": 16.346838, "activity_lines": [ 105.892502, 107.490365, 106.560594, 103.031801 ] }, { "date": "2025-02-14", "close": 105.931198, "volume": 6470938, "typical_volume": 12874699.15, "trend": 99.125405, "fair_value": 111.878427, "relative_strength": -4.909553, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 29.746376, "energy": 17.106931, "activity_lines": [ 105.825607, 106.930338, 106.66478, 103.496915 ] }, { "date": "2025-02-21", "close": 106.423073, "volume": 9181266, "typical_volume": 12924907.75, "trend": 99.565283, "fair_value": 111.757277, "relative_strength": -5.091463, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 20.442465, "energy": 11.50603, "activity_lines": [ 105.765268, 106.519663, 106.749319, 103.967732 ] }, { "date": "2025-02-28", "close": 90.555038, "volume": 24203138, "typical_volume": 12641296.75, "trend": 99.420712, "fair_value": 111.588604, "relative_strength": -17.215054, "stage": 4, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -13.367652, "energy": 16.973762, "activity_lines": [ 100.824829, 103.371275, 105.336872, 103.386426 ] }, { "date": "2025-03-07", "close": 90.997734, "volume": 9363408, "typical_volume": 12171964.35, "trend": 99.294448, "fair_value": 111.403146, "relative_strength": -17.555655, "stage": 4, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -34.457636, "energy": 47.613658, "activity_lines": [ 96.973085, 100.772721, 104.009325, 102.843008 ] }, { "date": "2025-03-14", "close": 91.73555, "volume": 7885070, "typical_volume": 11611024.0, "trend": 99.266368, "fair_value": 111.212944, "relative_strength": -17.488858, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -32.724897, "energy": 60.156507, "activity_lines": [ 94.20741, 98.72203, 102.790464, 102.355337 ] }, { "date": "2025-03-21", "close": 90.623909, "volume": 7951119, "typical_volume": 11097021.0, "trend": 99.672788, "fair_value": 110.933364, "relative_strength": -16.658193, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -42.421628, "energy": 69.46216, "activity_lines": [ 92.039206, 96.720886, 101.521847, 101.797759 ] }, { "date": "2025-03-28", "close": 90.80098, "volume": 8625853, "typical_volume": 10589117.9, "trend": 99.915661, "fair_value": 110.653679, "relative_strength": -15.578637, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -38.740187, "energy": 67.166607, "activity_lines": [ 90.950513, 94.987323, 100.290696, 101.225384 ] }, { "date": "2025-04-04", "close": 95.936195, "volume": 13814297, "typical_volume": 10204631.0, "trend": 100.513683, "fair_value": 110.454514, "relative_strength": -10.05206, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -35.553635, "energy": 53.793476, "activity_lines": [ 92.61503, 94.583086, 99.601267, 100.968645 ] }, { "date": "2025-04-11", "close": 87.584084, "volume": 18448093, "typical_volume": 10451459.85, "trend": 100.828136, "fair_value": 110.248972, "relative_strength": -14.808763, "stage": 4, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -72.638389, "energy": 51.83902, "activity_lines": [ 91.136767, 92.819116, 98.144788, 100.134477 ] }, { "date": "2025-04-18", "close": 85.154198, "volume": 7808186, "typical_volume": 10461382.55, "trend": 101.082896, "fair_value": 109.95791, "relative_strength": -17.66927, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -75.347549, "energy": 54.422024, "activity_lines": [ 89.076119, 90.904541, 96.519711, 99.123255 ] }, { "date": "2025-04-25", "close": 84.239304, "volume": 6662226, "typical_volume": 9763165.4, "trend": 100.825275, "fair_value": 109.669256, "relative_strength": -18.478821, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -74.866972, "energy": 66.535429, "activity_lines": [ 87.149262, 89.207288, 94.895572, 98.036572 ] }, { "date": "2025-05-02", "close": 83.098145, "volume": 3906539, "typical_volume": 9074508.4, "trend": 99.947997, "fair_value": 109.437716, "relative_strength": -18.538501, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -73.879851, "energy": 79.548151, "activity_lines": [ 85.26766, 87.696949, 93.281738, 96.892886 ] }, { "date": "2025-05-09", "close": 84.445892, "volume": 4093986, "typical_volume": 8790376.1, "trend": 99.445184, "fair_value": 109.281001, "relative_strength": -18.119311, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -64.258005, "energy": 76.934526, "activity_lines": [ 84.348829, 86.855746, 91.945934, 95.89275 ] }, { "date": "2025-05-16", "close": 83.678558, "volume": 5291775, "typical_volume": 8656860.95, "trend": 98.932286, "fair_value": 109.16541, "relative_strength": -18.823991, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -65.895941, "energy": 70.954095, "activity_lines": [ 83.94024, 85.986102, 90.689064, 94.875549 ] }, { "date": "2025-05-23", "close": 85.026306, "volume": 6237458, "typical_volume": 8556640.25, "trend": 98.315843, "fair_value": 109.072926, "relative_strength": -16.521136, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -62.132752, "energy": 53.074338, "activity_lines": [ 84.241269, 85.494579, 89.703758, 93.978389 ] }, { "date": "2025-05-30", "close": 86.511787, "volume": 4886502, "typical_volume": 8421829.25, "trend": 98.03456, "fair_value": 108.96003, "relative_strength": -14.523189, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -59.675493, "energy": 49.951285, "activity_lines": [ 85.045984, 85.39513, 88.957787, 93.216837 ] }, { "date": "2025-06-06", "close": 86.350418, "volume": 6020811, "typical_volume": 8357457.85, "trend": 97.517626, "fair_value": 108.800575, "relative_strength": -15.143049, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -46.714213, "energy": 39.627242, "activity_lines": [ 85.645411, 85.341107, 88.277679, 92.463021 ] }, { "date": "2025-06-13", "close": 87.367699, "volume": 9137391, "typical_volume": 8271829.65, "trend": 97.03329, "fair_value": 108.641247, "relative_strength": -13.439003, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -41.53315, "energy": 30.938992, "activity_lines": [ 86.367113, 85.552963, 87.81927, 91.808187 ] }, { "date": "2025-06-20", "close": 84.473877, "volume": 6210270, "typical_volume": 8528384.65, "trend": 96.489876, "fair_value": 108.514248, "relative_strength": -15.399256, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -46.093312, "energy": 31.011803, "activity_lines": [ 85.929421, 85.394461, 87.16766, 90.997902 ] }, { "date": "2025-06-27", "close": 86.399803, "volume": 5762121, "typical_volume": 8598022.35, "trend": 95.914907, "fair_value": 108.279891, "relative_strength": -14.722915, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -39.197834, "energy": 27.173032, "activity_lines": [ 86.080683, 85.642676, 86.790547, 90.34693 ] }, { "date": "2025-07-04", "close": 93.471382, "volume": 15525362, "typical_volume": 9050743.55, "trend": 95.389727, "fair_value": 108.077316, "relative_strength": -8.671648, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -14.814893, "energy": 12.305612, "activity_lines": [ 88.497571, 87.153986, 87.18147, 90.189283 ] }, { "date": "2025-07-11", "close": 94.73558, "volume": 8782229, "typical_volume": 9030791.7, "trend": 94.729937, "fair_value": 107.854947, "relative_strength": -8.187577, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": 10.093437, "energy": 19.752391, "activity_lines": [ 90.871886, 88.727294, 87.752126, 90.14708 ] }, { "date": "2025-07-18", "close": 101.688652, "volume": 16848147, "typical_volume": 8663042.15, "trend": 94.240597, "fair_value": 107.715119, "relative_strength": -1.954172, "stage": 1, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "mixed", "direction": 48.212209, "energy": 60.246474, "activity_lines": [ 95.004881, 91.353207, 89.040633, 90.596029 ] }, { "date": "2025-07-25", "close": 110.360229, "volume": 17977767, "typical_volume": 9093760.1, "trend": 94.127535, "fair_value": 107.633995, "relative_strength": 4.760332, "stage": 1, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 55.480689, "energy": 79.867701, "activity_lines": [ 101.073671, 95.242266, 91.101988, 91.636006 ] }, { "date": "2025-08-01", "close": 108.345421, "volume": 15377785, "typical_volume": 9468395.85, "trend": 94.219814, "fair_value": 107.555143, "relative_strength": 3.973336, "stage": 1, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 55.441045, "energy": 83.149622, "activity_lines": [ 104.745101, 98.279874, 92.879254, 92.553289 ] }, { "date": "2025-08-08", "close": 109.619492, "volume": 11714562, "typical_volume": 9656568.0, "trend": 94.421458, "fair_value": 107.538799, "relative_strength": 3.221282, "stage": 1, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 51.635656, "energy": 82.304801, "activity_lines": [ 107.378181, 101.125148, 94.698766, 93.546816 ] }, { "date": "2025-08-15", "close": 116.552818, "volume": 17555188, "typical_volume": 10103034.75, "trend": 94.554494, "fair_value": 107.567384, "relative_strength": 7.964156, "stage": 1, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "up", "direction": 86.951345, "energy": 94.309769, "activity_lines": [ 111.245829, 104.810887, 97.088139, 94.974646 ] }, { "date": "2025-08-22", "close": 119.604652, "volume": 11454936, "typical_volume": 9985066.7, "trend": 95.05225, "fair_value": 107.737682, "relative_strength": 6.789505, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 85.315444, "energy": 92.155158, "activity_lines": [ 114.676272, 108.50237, 99.645535, 96.590785 ] }, { "date": "2025-08-29", "close": 107.239258, "volume": 20940495, "typical_volume": 10109686.8, "trend": 95.173569, "fair_value": 107.806605, "relative_strength": -4.950294, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 66.516788, "energy": 62.819119, "activity_lines": [ 112.790517, 109.359473, 100.912568, 97.377044 ] }, { "date": "2025-09-05", "close": 105.481239, "volume": 12844454, "typical_volume": 10361500.2, "trend": 95.147749, "fair_value": 107.865431, "relative_strength": -5.361694, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 62.844773, "energy": 53.675486, "activity_lines": [ 110.526821, 109.48302, 101.918574, 98.042055 ] }, { "date": "2025-09-12", "close": 107.3479, "volume": 12033764, "typical_volume": 10630077.1, "trend": 95.194972, "fair_value": 107.964799, "relative_strength": -5.059375, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 48.414117, "energy": 39.493769, "activity_lines": [ 109.07629, 109.599025, 103.005562, 98.829161 ] }, { "date": "2025-09-19", "close": 104.770126, "volume": 9180226, "typical_volume": 10893761.45, "trend": 95.139874, "fair_value": 108.063812, "relative_strength": -6.058668, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 40.308187, "energy": 24.854129, "activity_lines": [ 106.917941, 108.994044, 103.737007, 99.446913 ] }, { "date": "2025-09-26", "close": 107.644188, "volume": 11897368, "typical_volume": 11283930.55, "trend": 95.709513, "fair_value": 108.170253, "relative_strength": -3.577885, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 37.389148, "energy": 22.158896, "activity_lines": [ 106.503125, 108.729173, 104.638972, 100.253643 ] }, { "date": "2025-10-03", "close": 110.221962, "volume": 3603284, "typical_volume": 11199506.0, "trend": 96.35032, "fair_value": 108.261287, "relative_strength": -2.375355, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 42.883055, "energy": 26.305199, "activity_lines": [ 107.744932, 108.824706, 105.675971, 101.18993 ] }, { "date": "2025-10-10", "close": 109.214561, "volume": 3645206, "typical_volume": 11069893.4, "trend": 96.932954, "fair_value": 108.359121, "relative_strength": -3.435732, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 41.691837, "energy": 26.586608, "activity_lines": [ 108.452091, 108.739588, 106.490631, 102.019881 ] }, { "date": "2025-10-17", "close": 101.739998, "volume": 8046516, "typical_volume": 11227894.1, "trend": 97.30349, "fair_value": 108.452897, "relative_strength": -8.467602, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 33.289391, "energy": 20.200119, "activity_lines": [ 106.418841, 107.279657, 106.478244, 102.330013 ] }, { "date": "2025-10-24", "close": 104.639999, "volume": 5040386, "typical_volume": 11178872.85, "trend": 97.764791, "fair_value": 108.481512, "relative_strength": -8.195459, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 23.360983, "energy": 14.329943, "activity_lines": [ 105.726119, 106.490262, 106.669534, 102.803336 ] }, { "date": "2025-10-31", "close": 101.889999, "volume": 10207137, "typical_volume": 11232360.15, "trend": 97.963251, "fair_value": 108.397916, "relative_strength": -10.515211, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 12.071098, "energy": 12.612174, "activity_lines": [ 104.125405, 105.417464, 106.511825, 103.069479 ] }, { "date": "2025-11-07", "close": 97.730003, "volume": 7066258, "typical_volume": 11275159.55, "trend": 98.301448, "fair_value": 108.023993, "relative_strength": -14.799152, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -4.108031, "energy": 17.204062, "activity_lines": [ 101.521638, 103.910388, 105.888772, 103.05443 ] }, { "date": "2025-11-14", "close": 102.25, "volume": 8769658, "typical_volume": 11425536.4, "trend": 98.871308, "fair_value": 107.749779, "relative_strength": -10.402395, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 5.977859, "energy": 16.278943, "activity_lines": [ 101.257334, 103.398025, 105.633071, 103.309176 ] }, { "date": "2025-11-21", "close": 91.25, "volume": 8234053, "typical_volume": 11060970.95, "trend": 99.104998, "fair_value": 107.44325, "relative_strength": -16.400592, "stage": 3, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -39.036073, "energy": 48.108656, "activity_lines": [ 97.790667, 100.944412, 104.254273, 102.817478 ] }, { "date": "2025-11-28", "close": 93.480003, "volume": 4139676, "typical_volume": 10828843.3, "trend": 99.45106, "fair_value": 107.222882, "relative_strength": -15.132119, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -32.620281, "energy": 56.09243, "activity_lines": [ 95.766668, 99.188942, 103.098435, 102.454575 ] }, { "date": "2025-12-05", "close": 93.18, "volume": 4597981, "typical_volume": 10216335.0, "trend": 99.742197, "fair_value": 106.997843, "relative_strength": -15.239986, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -40.861222, "energy": 60.961681, "activity_lines": [ 94.386668, 97.584202, 101.920004, 102.049991 ] }, { "date": "2025-12-12", "close": 91.349998, "volume": 5071237, "typical_volume": 9571008.5, "trend": 99.997912, "fair_value": 106.820774, "relative_strength": -16.027747, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -44.396461, "energy": 67.328334, "activity_lines": [ 92.977333, 95.909719, 100.607805, 101.508559 ] }, { "date": "2025-12-19", "close": 92.800003, "volume": 4382990, "typical_volume": 9021268.75, "trend": 100.257035, "fair_value": 106.648149, "relative_strength": -14.087134, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -35.62244, "energy": 60.620637, "activity_lines": [ 92.476668, 94.842001, 99.524226, 101.044177 ] }, { "date": "2025-12-26", "close": 93.43, "volume": 4405438, "typical_volume": 8655812.55, "trend": 100.487642, "fair_value": 106.424106, "relative_strength": -14.516756, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -34.836259, "energy": 53.633068, "activity_lines": [ 92.816001, 94.187273, 98.574673, 100.603724 ] }, { "date": "2026-01-02", "close": 91.660004, "volume": 2977880, "typical_volume": 7926947.15, "trend": 100.664628, "fair_value": 106.250559, "relative_strength": -15.670044, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -65.129378, "energy": 61.41596, "activity_lines": [ 92.420002, 93.361819, 97.533641, 100.034199 ] }, { "date": "2026-01-09", "close": 97.940002, "volume": 9145590, "typical_volume": 7811479.85, "trend": 101.017038, "fair_value": 106.127415, "relative_strength": -12.660286, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -45.921778, "energy": 33.842135, "activity_lines": [ 94.238669, 93.914183, 97.209242, 99.858416 ] }, { "date": "2026-01-16", "close": 97.980003, "volume": 11301673, "typical_volume": 7329538.75, "trend": 101.467243, "fair_value": 105.99139, "relative_strength": -11.553075, "stage": 1, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -39.603567, "energy": 23.991032, "activity_lines": [ 95.753336, 94.545638, 96.991817, 99.662478 ] }, { "date": "2026-01-23", "close": 98.099998, "volume": 7348749, "typical_volume": 7054753.5, "trend": 101.857249, "fair_value": 105.803751, "relative_strength": -11.645607, "stage": 1, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -33.635859, "energy": 22.275038, "activity_lines": [ 96.866001, 95.194365, 96.829912, 99.445237 ] }, { "date": "2026-01-30", "close": 95.029999, "volume": 10022906, "typical_volume": 6954210.6, "trend": 101.909203, "fair_value": 105.54817, "relative_strength": -13.48699, "stage": 1, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -34.229964, "energy": 24.299097, "activity_lines": [ 96.602, 95.360364, 96.410775, 99.004769 ] }, { "date": "2026-02-06", "close": 97.980003, "volume": 9366306, "typical_volume": 6963514.6, "trend": 102.01735, "fair_value": 105.289026, "relative_strength": -9.124225, "stage": 1, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -30.768294, "energy": 20.072088, "activity_lines": [ 97.214668, 95.994001, 96.331248, 98.751272 ] }, { "date": "2026-02-13", "close": 96.949997, "volume": 4722508, "typical_volume": 6604771.6, "trend": 101.859395, "fair_value": 105.029099, "relative_strength": -9.926655, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -20.774892, "energy": 13.225488, "activity_lines": [ 97.062666, 96.358546, 96.185958, 98.424346 ] }, { "date": "2026-02-27", "close": 101.5, "volume": 5339150, "typical_volume": 6691564.9, "trend": 101.564054, "fair_value": 104.807879, "relative_strength": -7.047742, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": 1.877122, "energy": 9.259535, "activity_lines": [ 98.493333, 97.481818, 96.524927, 98.40116 ] }, { "date": "2026-03-06", "close": 107.379997, "volume": 23093621, "typical_volume": 7663985.65, "trend": 101.531873, "fair_value": 104.666953, "relative_strength": -0.650764, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 37.111848, "energy": 37.781466, "activity_lines": [ 101.649332, 99.489636, 97.465429, 98.776382 ] }, { "date": "2026-03-13", "close": 107.25, "volume": 13958484, "typical_volume": 7959584.05, "trend": 101.45289, "fair_value": 104.553004, "relative_strength": -0.016277, "stage": 2, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 32.793943, "energy": 51.828315, "activity_lines": [ 104.143332, 101.208727, 98.402286, 99.145293 ] }, { "date": "2026-03-20", "close": 105.07, "volume": 10542319, "typical_volume": 8234680.7, "trend": 101.07013, "fair_value": 104.45208, "relative_strength": 1.397605, "stage": 2, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 23.457643, "energy": 52.464357, "activity_lines": [ 105.095999, 102.280181, 99.105286, 99.378655 ] }, { "date": "2026-03-27", "close": 104.580002, "volume": 10964009, "typical_volume": 8272524.3, "trend": 100.569308, "fair_value": 104.352017, "relative_strength": 2.05791, "stage": 1, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 31.523243, "energy": 51.830153, "activity_lines": [ 105.412667, 103.018727, 99.759572, 99.605098 ] }, { "date": "2026-04-03", "close": 98.676071, "volume": 11714760, "typical_volume": 8504949.4, "trend": 100.283868, "fair_value": 104.219363, "relative_strength": -2.750302, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 20.793704, "energy": 21.060608, "activity_lines": [ 103.252691, 102.563104, 99.838769, 99.482954 ] }, { "date": "2026-04-10", "close": 101.437973, "volume": 8153526, "typical_volume": 8474142.8, "trend": 100.149093, "fair_value": 104.174543, "relative_strength": -2.456165, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 8.56336, "energy": 8.840406, "activity_lines": [ 102.20161, 102.596988, 100.176499, 99.557412 ] }, { "date": "2026-04-17", "close": 97.696045, "volume": 9504828, "typical_volume": 8537681.55, "trend": 99.827364, "fair_value": 104.104159, "relative_strength": -7.366041, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -6.279736, "energy": 10.299498, "activity_lines": [ 100.299356, 101.889832, 100.161722, 99.399151 ] }, { "date": "2026-04-24", "close": 97.715843, "volume": 7060802, "typical_volume": 8683737.85, "trend": 99.592222, "fair_value": 103.982771, "relative_strength": -7.855257, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -12.397526, "energy": 16.648662, "activity_lines": [ 99.040631, 101.137802, 100.118136, 99.262924 ] }, { "date": "2026-05-01", "close": 101.289482, "volume": 9110073, "typical_volume": 8909342.45, "trend": 99.380398, "fair_value": 103.872569, "relative_strength": -5.169156, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -3.383364, "energy": 8.934286, "activity_lines": [ 99.463396, 101.040327, 100.394725, 99.372425 ] }, { "date": "2026-05-08", "close": 100.65593, "volume": 6277452, "typical_volume": 8969653.2, "trend": 99.06153, "fair_value": 103.773504, "relative_strength": -7.204055, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 23.016893, "energy": 14.439609, "activity_lines": [ 99.894345, 100.748762, 100.572359, 99.454717 ] }, { "date": "2026-05-15", "close": 102.625885, "volume": 12474566, "typical_volume": 9374232.0, "trend": 98.841908, "fair_value": 103.731286, "relative_strength": -4.336352, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 35.469194, "energy": 14.727771, "activity_lines": [ 100.849955, 100.830716, 100.893294, 99.684675 ] }, { "date": "2026-05-22", "close": 98.369194, "volume": 12340148, "typical_volume": 9770967.5, "trend": 98.729548, "fair_value": 103.667966, "relative_strength": -7.739116, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 21.91905, "energy": 10.736026, "activity_lines": [ 100.307474, 100.225166, 100.76204, 99.654178 ] }, { "date": "2026-05-29", "close": 101.111298, "volume": 10425500, "typical_volume": 10143348.5, "trend": 98.611924, "fair_value": 103.644818, "relative_strength": -4.095491, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 30.265724, "energy": 13.505255, "activity_lines": [ 100.634151, 100.279648, 100.868418, 99.807839 ] }, { "date": "2026-06-05", "close": 98.599998, "volume": 1098200, "typical_volume": 9740979.0, "trend": 98.502258, "fair_value": 103.575966, "relative_strength": -5.433649, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 13.096246, "energy": 6.35793, "activity_lines": [ 99.897364, 99.949508, 100.69062, 99.80707 ] }, { "date": "2026-06-12", "close": 92.949997, "volume": 2365513, "typical_volume": 9294171.0, "trend": 98.342924, "fair_value": 103.491509, "relative_strength": -10.773555, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -27.747239, "energy": 32.456631, "activity_lines": [ 97.456543, 98.700821, 99.971583, 99.448859 ] }, { "date": "2026-06-19", "close": 89.18, "volume": 7207097, "typical_volume": 9287088.4, "trend": 97.907258, "fair_value": 103.399689, "relative_strength": -15.370317, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -37.318291, "energy": 52.481172, "activity_lines": [ 94.272785, 96.870791, 98.917451, 98.857703 ] }, { "date": "2026-06-26", "close": 86.080002, "volume": 1342127, "typical_volume": 8853049.45, "trend": 97.734924, "fair_value": 103.310659, "relative_strength": -16.79588, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -55.149949, "energy": 71.712556, "activity_lines": [ 90.952086, 94.699998, 97.610557, 98.094654 ] }, { "date": "2026-07-03", "close": 93.699997, "volume": 2473524, "typical_volume": 8508410.35, "trend": 97.742257, "fair_value": 103.234329, "relative_strength": -9.658003, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -34.582767, "energy": 63.913649, "activity_lines": [ 90.990666, 94.125859, 97.071996, 97.834336 ] }, { "date": "2026-07-10", "close": 90.07, "volume": 7824079, "typical_volume": 8663488.9, "trend": 97.638591, "fair_value": 103.127272, "relative_strength": -11.836568, "stage": 4, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -65.153113, "energy": 73.358414, "activity_lines": [ 90.313333, 92.964735, 96.208102, 97.339352 ] }, { "date": "2026-07-17", "close": 89.68, "volume": 10816586, "typical_volume": 8937360.7, "trend": 97.582924, "fair_value": 102.964972, "relative_strength": -6.585472, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -63.94537, "energy": 63.273093, "activity_lines": [ 90.074666, 91.936693, 95.339827, 96.825894 ] }, { "date": "2026-07-24", "close": 89.0, "volume": 7932912, "typical_volume": 8179325.25, "trend": 97.456257, "fair_value": 102.798641, "relative_strength": -8.133524, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -63.157925, "energy": 43.913213, "activity_lines": [ 89.827333, 90.984578, 94.463076, 96.272157 ] }, { "date": "2026-07-31", "close": 93.449997, "volume": 7008782, "typical_volume": 7831840.15, "trend": 97.456924, "fair_value": 102.683908, "relative_strength": -3.532943, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -56.01384, "energy": 36.935023, "activity_lines": [ 91.075332, 91.089295, 94.097658, 96.013689 ] }, { "date": "2026-08-07", "close": 94.199997, "volume": 8059332, "typical_volume": 7707690.8, "trend": 97.54159, "fair_value": 102.569884, "relative_strength": -4.946726, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -41.529689, "energy": 25.797537, "activity_lines": [ 92.081998, 91.419817, 93.869383, 95.803565 ] } ], "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." } } }