{ "ticker": { "uuid": "3c08e48e-d67c-4006-a330-f6938fd4b216", "symbol": "BE27", "name": "Invesco BulltShares 27 EUR Crp", "exchange": "MIL", "country": "IT", "assetType": "etf" }, "methodBoundary": "Trend Architecture is a weekly structural classification, not a forecast, probability of return, recommendation or execution signal. Confidence measures geometric agreement and external confirmation only.", "analysis": { "eligible": true, "as_of": "2026-08-07", "benchmark": "FTSEMIB.MI", "stage": 3, "stage_name": "Distribution", "phase": "3a", "phase_label": "Stage 3A \u00b7 Churning", "transition": "stage_3_churning", "transition_label": "Stage 3 range intact", "confidence": 87.347, "architecture_regime": "balance", "architecture_regime_label": "Balance", "architecture_modifier": "Balance after decline", "architecture_gate": "down", "architecture_direction": 11.491, "architecture_energy": 33.52, "architecture_maturity": 12.066, "architecture_confidence": 45.702, "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": 56.49, "rotation_up": 37.39, "upward_expansion": 38.85, "deceleration": 28.78, "rotation_down": 15.16, "downward_expansion": 49.51 }, "activity_lines": [ 5.357333, 5.354653, 5.350803, 5.355038 ], "activity_state": "Compressed", "activity_direction": "Expanding", "rotation_direction": "Improving", "price_acceptance": 0.166667 }, "latest_close": 5.364, "trend_reference": 5.359594, "distance_from_trend": 0.000822, "trend_direction": "Improving", "fair_value": 5.26134, "distance_from_fair_value": 0.019512, "fair_value_direction": "Improving", "relative_strength": -14.195672, "relative_strength_direction": "Weakening", "price_momentum": -0.001736, "excess_performance": -0.172628, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.000822, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.000521, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.019512, "read": "Premium" }, { "label": "Fair Value direction", "positive": true, "value": 0.004368, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.141957, "read": "Lagging" }, { "label": "Relative strength direction", "positive": false, "value": -0.018508, "read": "Weakening" }, { "label": "Price momentum", "positive": false, "value": -0.001736, "read": "Negative" }, { "label": "Volume balance", "positive": true, "value": 26.431934, "read": "Demand-led" } ], "volume": { "latest": 1, "relative_activity": 0.000175, "balance": 26.431934, "dry_up": 4.4e-05, "accumulation_observations": 1, "distribution_observations": 0 }, "risk": { "range_context": 0.001551, "annualized_volatility": 0.032156, "from_high_reference": -0.007034, "from_low_reference": 0.011789 }, "levels": { "trend_reference": 5.359594, "fair_value_reference": 5.26134, "structural_low": 5.323031, "invalidation": "A decisive breakout above range resistance with renewed RS leadership invalidates the distribution reading; a range-low break confirms deterioration." }, "outcomes": [ { "horizon": "Near term", "sample_count": 1, "median_return": 0.0, "positive_rate": 0.0, "directional_follow_through": 0.0, "median_excess_return": 0.01223, "regime_survival": 1.0, "best_return": 0.0, "worst_return": 0.0, "sufficient": false }, { "horizon": "Intermediate", "sample_count": 0, "median_return": null, "positive_rate": null, "directional_follow_through": null, "median_excess_return": null, "regime_survival": null, "best_return": null, "worst_return": null, "sufficient": false }, { "horizon": "Extended", "sample_count": 0, "median_return": null, "positive_rate": null, "directional_follow_through": null, "median_excess_return": null, "regime_survival": null, "best_return": null, "worst_return": null, "sufficient": false }, { "horizon": "Full cycle", "sample_count": 0, "median_return": null, "positive_rate": null, "directional_follow_through": null, "median_excess_return": null, "regime_survival": null, "best_return": null, "worst_return": null, "sufficient": false } ], "ledger": [ { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-01-02", "end": "2026-01-09", "tenure": "New", "return": 0.001673, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2026-01-16", "end": "2026-01-23", "tenure": "New", "return": 0.001485, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-01-30", "end": "2026-04-03", "tenure": "Developing", "return": 0.00701, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2026-04-10", "end": "2026-04-17", "tenure": "New", "return": 0.008072, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2026-04-24", "end": "2026-05-01", "tenure": "New", "return": 0.0, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2026-05-08", "end": "2026-06-12", "tenure": "Developing", "return": 0.00338, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2026-06-19", "end": "2026-06-26", "tenure": "New", "return": 0.000187, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-07-03", "end": "2026-08-07", "tenure": "Developing", "return": 0.001868, "active": true } ], "chart_path": [ { "date": "2024-06-28", "close": 5.015342, "volume": 167040, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-07-05", "close": 5.021978, "volume": 24858, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-07-12", "close": 5.021978, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-07-19", "close": 5.021978, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-07-26", "close": 5.021978, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-08-02", "close": 5.021978, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-08-09", "close": 5.021978, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-08-16", "close": 5.021978, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-08-23", "close": 5.087397, "volume": 1000, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-08-30", "close": 5.099721, "volume": 1964, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-09-06", "close": 5.112046, "volume": 7856, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-09-13", "close": 5.161191, "volume": 1944, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-09-20", "close": 5.131606, "volume": 979, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-09-27", "close": 5.137331, "volume": 979, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-10-04", "close": 5.159282, "volume": 1270, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-10-11", "close": 5.159282, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-10-18", "close": 5.159282, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-10-25", "close": 5.158327, "volume": 420, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-01", "close": 5.144012, "volume": 973, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-08", "close": 5.144012, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-15", "close": 5.16978, "volume": 1942, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-22", "close": 5.16978, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-29", "close": 5.16978, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-12-06", "close": 5.201273, "volume": 965, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-12-13", "close": 5.243995, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-12-20", "close": 5.243995, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-12-27", "close": 5.243995, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-03", "close": 5.243995, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-10", "close": 5.163171, "volume": 1861, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-17", "close": 5.156435, "volume": 979, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-24", "close": 5.176641, "volume": 1954, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-31", "close": 5.183377, "volume": 20519, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-02-07", "close": 5.207432, "volume": 1000, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-02-14", "close": 5.207432, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-02-21", "close": 5.207432, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-02-28", "close": 5.219941, "volume": 110250, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-03-07", "close": 5.198772, "volume": 2429, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-03-14", "close": 5.20157, "volume": 3872, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-03-21", "close": 5.20157, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-03-28", "close": 5.20157, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-04-04", "close": 5.223881, "volume": 977, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-04-11", "close": 5.223881, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-04-18", "close": 5.223881, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-04-25", "close": 5.223881, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-02", "close": 5.223881, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-09", "close": 5.263655, "volume": 3400, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-16", "close": 5.263655, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-23", "close": 5.263655, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-30", "close": 5.263655, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-06-06", "close": 5.263655, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-06-13", "close": 5.306391, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-06-20", "close": 5.306391, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-06-27", "close": 5.28292, "volume": 180, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-07-04", "close": 5.295634, "volume": 1181, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-07-11", "close": 5.297589, "volume": 1105, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-07-18", "close": 5.297589, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-07-25", "close": 5.306391, "volume": 2073, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-01", "close": 5.305413, "volume": 1270, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-08", "close": 5.308347, "volume": 188, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-15", "close": 5.308347, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-22", "close": 5.301501, "volume": 11701, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-29", "close": 5.305413, "volume": 1747, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-09-05", "close": 5.305413, "volume": 865, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-09-12", "close": 5.362951, "volume": 63746, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-09-19", "close": 5.316626, "volume": 20, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-09-26", "close": 5.314654, "volume": 4074, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-10-03", "close": 5.314654, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-10-10", "close": 5.314654, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-10-17", "close": 5.314654, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-10-24", "close": 5.314654, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-10-31", "close": 5.332396, "volume": 1, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-11-07", "close": 5.336339, "volume": 20387, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-11-14", "close": 5.336339, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-11-21", "close": 5.336339, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-11-28", "close": 5.336339, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-12-05", "close": 5.342252, "volume": 3185, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-12-12", "close": 5.381271, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-12-19", "close": 5.337585, "volume": 977, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-12-26", "close": 5.337585, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-01-02", "close": 5.341557, "volume": 4149, "typical_volume": 5542.6, "trend": 5.31994, "fair_value": 5.223381, "relative_strength": -10.395208, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 60.495876, "energy": 50.47066, "activity_lines": [ 5.345045, 5.343965, 5.335942, 5.32914 ] }, { "date": "2026-01-09", "close": 5.350492, "volume": 3712, "typical_volume": 5143.15, "trend": 5.32141, "fair_value": 5.22495, "relative_strength": -10.528275, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 61.769523, "energy": 36.139241, "activity_lines": [ 5.345859, 5.345545, 5.337973, 5.331111 ] }, { "date": "2026-01-16", "close": 5.350492, "volume": 0, "typical_volume": 5055.8, "trend": 5.32288, "fair_value": 5.226481, "relative_strength": -10.352353, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 51.80179, "energy": 34.600789, "activity_lines": [ 5.346124, 5.346796, 5.339772, 5.332987 ] }, { "date": "2026-01-23", "close": 5.358436, "volume": 5874, "typical_volume": 5306.25, "trend": 5.325397, "fair_value": 5.228071, "relative_strength": -7.96189, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 67.068089, "energy": 44.075148, "activity_lines": [ 5.351088, 5.349235, 5.342112, 5.335281 ] }, { "date": "2026-01-30", "close": 5.364393, "volume": 60330, "typical_volume": 5135.45, "trend": 5.327689, "fair_value": 5.229694, "relative_strength": -8.9386, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 74.050114, "energy": 58.005702, "activity_lines": [ 5.356648, 5.352354, 5.344767, 5.337797 ] }, { "date": "2026-02-06", "close": 5.373329, "volume": 40073, "typical_volume": 7138.1, "trend": 5.330214, "fair_value": 5.231384, "relative_strength": -9.166836, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 78.383309, "energy": 72.680764, "activity_lines": [ 5.3634, 5.356589, 5.348267, 5.340742 ] }, { "date": "2026-02-13", "close": 5.369357, "volume": 180, "typical_volume": 6943.4, "trend": 5.332606, "fair_value": 5.232988, "relative_strength": -8.083423, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 69.432997, "energy": 71.291343, "activity_lines": [ 5.36671, 5.359428, 5.351118, 5.343267 ] }, { "date": "2026-02-20", "close": 5.378293, "volume": 22348, "typical_volume": 8060.8, "trend": 5.335002, "fair_value": 5.234658, "relative_strength": -9.727382, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 74.569094, "energy": 74.378082, "activity_lines": [ 5.37174, 5.3634, 5.354559, 5.346215 ] }, { "date": "2026-02-27", "close": 5.378293, "volume": 0, "typical_volume": 8060.8, "trend": 5.337432, "fair_value": 5.236291, "relative_strength": -10.854259, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 70.369161, "energy": 64.337902, "activity_lines": [ 5.374917, 5.367426, 5.357698, 5.349008 ] }, { "date": "2026-03-06", "close": 5.372335, "volume": 1861, "typical_volume": 8153.85, "trend": 5.339565, "fair_value": 5.237819, "relative_strength": -4.598499, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 62.465391, "energy": 50.41989, "activity_lines": [ 5.374785, 5.369628, 5.359966, 5.351259 ] }, { "date": "2026-03-13", "close": 5.402, "volume": 0, "typical_volume": 8153.85, "trend": 5.342687, "fair_value": 5.239643, "relative_strength": -4.245951, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 85.137927, "energy": 70.661243, "activity_lines": [ 5.384011, 5.376592, 5.364785, 5.355288 ] }, { "date": "2026-03-20", "close": 5.402, "volume": 0, "typical_volume": 8153.8, "trend": 5.346036, "fair_value": 5.241427, "relative_strength": -0.839737, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 83.426431, "energy": 90.235989, "activity_lines": [ 5.391326, 5.382457, 5.369188, 5.359114 ] }, { "date": "2026-03-27", "close": 5.402, "volume": 0, "typical_volume": 7134.45, "trend": 5.349256, "fair_value": 5.243173, "relative_strength": -1.925063, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 76.546726, "energy": 88.681262, "activity_lines": [ 5.396464, 5.387386, 5.373259, 5.362725 ] }, { "date": "2026-04-03", "close": 5.402, "volume": 0, "typical_volume": 7134.45, "trend": 5.352476, "fair_value": 5.244881, "relative_strength": -6.293698, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 71.698044, "energy": 88.850408, "activity_lines": [ 5.400022, 5.391378, 5.377018, 5.366128 ] }, { "date": "2026-04-10", "close": 5.323031, "volume": 11000, "typical_volume": 7684.45, "trend": 5.351145, "fair_value": 5.245712, "relative_strength": -10.946124, "stage": 3, "regime": "rotation_down", "modifier": "Structural failure", "gate": "up", "direction": 13.182153, "energy": 17.781302, "activity_lines": [ 5.375677, 5.38022, 5.372943, 5.364228 ] }, { "date": "2026-04-17", "close": 5.366, "volume": 76521, "typical_volume": 11510.5, "trend": 5.352791, "fair_value": 5.246978, "relative_strength": -12.065285, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "up", "direction": 31.594322, "energy": 22.510468, "activity_lines": [ 5.368942, 5.377626, 5.373023, 5.365186 ] }, { "date": "2026-04-24", "close": 5.32899, "volume": 0, "typical_volume": 11351.25, "trend": 5.353269, "fair_value": 5.247833, "relative_strength": -10.060488, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -33.725998, "energy": 37.262902, "activity_lines": [ 5.35227, 5.368437, 5.369438, 5.363651 ] }, { "date": "2026-05-01", "close": 5.32899, "volume": 0, "typical_volume": 11351.25, "trend": 5.353746, "fair_value": 5.248669, "relative_strength": -10.803865, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -35.369259, "energy": 46.673572, "activity_lines": [ 5.340465, 5.359982, 5.365916, 5.362084 ] }, { "date": "2026-05-08", "close": 5.32899, "volume": 0, "typical_volume": 11302.4, "trend": 5.354224, "fair_value": 5.249489, "relative_strength": -12.344873, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -33.053686, "energy": 66.708219, "activity_lines": [ 5.333527, 5.352423, 5.362643, 5.360487 ] }, { "date": "2026-05-15", "close": 5.32899, "volume": 0, "typical_volume": 11302.4, "trend": 5.354702, "fair_value": 5.250292, "relative_strength": -11.745791, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -34.014567, "energy": 68.931989, "activity_lines": [ 5.331457, 5.34576, 5.359411, 5.358859 ] }, { "date": "2026-05-22", "close": 5.32899, "volume": 0, "typical_volume": 11094.95, "trend": 5.35518, "fair_value": 5.251079, "relative_strength": -12.096375, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -38.091248, "energy": 70.128386, "activity_lines": [ 5.32899, 5.339886, 5.356219, 5.3572 ] }, { "date": "2026-05-29", "close": 5.381, "volume": 976, "typical_volume": 10958.15, "trend": 5.3568, "fair_value": 5.252365, "relative_strength": -11.84248, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": 4.470969, "energy": 16.139748, "activity_lines": [ 5.346327, 5.344795, 5.358041, 5.358866 ] }, { "date": "2026-06-05", "close": 5.3419, "volume": 977, "typical_volume": 11007.0, "trend": 5.356986, "fair_value": 5.253243, "relative_strength": -11.91702, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -15.027098, "energy": 13.51397, "activity_lines": [ 5.347163, 5.342977, 5.355994, 5.357905 ] }, { "date": "2026-06-12", "close": 5.347, "volume": 0, "typical_volume": 10713.3, "trend": 5.357341, "fair_value": 5.254153, "relative_strength": -14.161977, "stage": 3, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -36.525144, "energy": 23.101033, "activity_lines": [ 5.348838, 5.34318, 5.354474, 5.357261 ] }, { "date": "2026-06-19", "close": 5.348, "volume": 24847, "typical_volume": 8939.15, "trend": 5.35773, "fair_value": 5.255056, "relative_strength": -15.88672, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -31.172505, "energy": 25.13325, "activity_lines": [ 5.349646, 5.344564, 5.353103, 5.356658 ] }, { "date": "2026-06-26", "close": 5.349, "volume": 0, "typical_volume": 6935.5, "trend": 5.358152, "fair_value": 5.25595, "relative_strength": -12.873375, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -33.77362, "energy": 18.702478, "activity_lines": [ 5.34952, 5.345675, 5.351905, 5.356095 ] }, { "date": "2026-07-03", "close": 5.354, "volume": 0, "typical_volume": 6926.5, "trend": 5.358543, "fair_value": 5.256875, "relative_strength": -14.916544, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -31.165434, "energy": 14.85718, "activity_lines": [ 5.349727, 5.348005, 5.3513, 5.355827 ] }, { "date": "2026-07-10", "close": 5.354, "volume": 0, "typical_volume": 5809.1, "trend": 5.357634, "fair_value": 5.257783, "relative_strength": -14.163518, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -30.356955, "energy": 16.810301, "activity_lines": [ 5.351733, 5.349881, 5.350767, 5.355534 ] }, { "date": "2026-07-17", "close": 5.354, "volume": 0, "typical_volume": 5809.1, "trend": 5.358181, "fair_value": 5.258674, "relative_strength": -12.55216, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -17.156288, "energy": 14.727516, "activity_lines": [ 5.352933, 5.351301, 5.350351, 5.355299 ] }, { "date": "2026-07-24", "close": 5.354, "volume": 0, "typical_volume": 5716.05, "trend": 5.358729, "fair_value": 5.259548, "relative_strength": -12.030913, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -13.194234, "energy": 23.549926, "activity_lines": [ 5.353667, 5.352267, 5.35005, 5.35503 ] }, { "date": "2026-07-31", "close": 5.354, "volume": 0, "typical_volume": 5716.05, "trend": 5.359143, "fair_value": 5.260407, "relative_strength": -12.222498, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -12.15126, "energy": 26.736074, "activity_lines": [ 5.354, 5.352778, 5.349836, 5.354724 ] }, { "date": "2026-08-07", "close": 5.364, "volume": 1, "typical_volume": 5716.1, "trend": 5.359594, "fair_value": 5.26134, "relative_strength": -14.195672, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": 11.490765, "energy": 33.519883, "activity_lines": [ 5.357333, 5.354653, 5.350803, 5.355038 ] } ], "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." } } }