{ "ticker": { "uuid": "43fce935-d89d-4a60-883a-3eedb25e8674", "symbol": "SAN", "name": "Sanofi", "exchange": "PAR", "country": "FR", "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": "^FCHI", "stage": 4, "stage_name": "Declining", "phase": "4a", "phase_label": "Stage 4A \u00b7 Breakdown", "transition": "stage_4_declining", "transition_label": "Stage 4 decline intact", "confidence": 49.745, "architecture_regime": "balance", "architecture_regime_label": "Balance", "architecture_modifier": "Balance after decline", "architecture_gate": "mixed", "architecture_direction": -0.877, "architecture_energy": 2.885, "architecture_maturity": 34.257, "architecture_confidence": 79.03, "architecture_tenure": "Established", "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": 77.72, "rotation_up": 32.19, "upward_expansion": 24.53, "deceleration": 51.49, "rotation_down": 31.87, "downward_expansion": 31.2 }, "activity_lines": [ 75.481998, 75.645635, 75.716543, 75.646671 ], "activity_state": "Compressed", "activity_direction": "Stable", "rotation_direction": "Weakening", "price_acceptance": 0.166667 }, "latest_close": 75.309998, "trend_reference": 75.553018, "distance_from_trend": -0.003217, "trend_direction": "Weakening", "fair_value": 81.761805, "distance_from_fair_value": -0.07891, "fair_value_direction": "Improving", "relative_strength": -9.125605, "relative_strength_direction": "Weakening", "price_momentum": -0.010446, "excess_performance": -0.063757, "evidence": [ { "label": "Price vs Trend", "positive": false, "value": -0.003217, "read": "Below" }, { "label": "Trend direction", "positive": false, "value": -0.018505, "read": "Falling" }, { "label": "Price vs current Fair Value", "positive": false, "value": -0.07891, "read": "Below anchor" }, { "label": "Fair Value direction", "positive": true, "value": 0.034184, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.091256, "read": "Lagging" }, { "label": "Relative strength direction", "positive": false, "value": -0.006553, "read": "Weakening" }, { "label": "Price momentum", "positive": false, "value": -0.010446, "read": "Negative" }, { "label": "Volume balance", "positive": true, "value": 1.198167, "read": "Demand-led" } ], "volume": { "latest": 9699184, "relative_activity": 1.066735, "balance": 1.198167, "dry_up": 1.194539, "accumulation_observations": 4, "distribution_observations": 3 }, "risk": { "range_context": 0.045331, "annualized_volatility": 0.20369, "from_high_reference": -0.127586, "from_low_reference": 0.062399 }, "levels": { "trend_reference": 75.553018, "fair_value_reference": 81.761805, "structural_low": 70.886731, "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": 18, "median_return": 0.008205, "positive_rate": 0.555556, "directional_follow_through": 0.555556, "median_excess_return": -0.001567, "regime_survival": 0.611111, "best_return": 0.064123, "worst_return": -0.157597, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 9, "median_return": -0.00434, "positive_rate": 0.444444, "directional_follow_through": 0.444444, "median_excess_return": -0.050104, "regime_survival": 0.444444, "best_return": 0.107081, "worst_return": -0.122901, "sufficient": true }, { "horizon": "Extended", "sample_count": 5, "median_return": -0.051024, "positive_rate": 0.4, "directional_follow_through": 0.4, "median_excess_return": -0.081722, "regime_survival": 0.4, "best_return": 0.158911, "worst_return": -0.108891, "sufficient": true }, { "horizon": "Full cycle", "sample_count": 3, "median_return": 0.037441, "positive_rate": 1.0, "directional_follow_through": 1.0, "median_excess_return": 0.041611, "regime_survival": 0.0, "best_return": 0.087477, "worst_return": 0.033466, "sufficient": false } ], "ledger": [ { "regime": "balance", "label": "Balance", "color": "blue", "start": "2024-01-19", "end": "2024-02-09", "tenure": "New", "return": -0.080179, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2024-02-16", "end": "2024-03-22", "tenure": "Developing", "return": 0.02533, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2024-03-29", "end": "2024-05-10", "tenure": "Developing", "return": 0.037049, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2024-05-17", "end": "2024-10-18", "tenure": "Established", "return": 0.130649, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2024-10-25", "end": "2024-11-22", "tenure": "Developing", "return": -0.069045, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2024-11-29", "end": "2025-01-24", "tenure": "Developing", "return": 0.087632, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2025-01-31", "end": "2025-03-07", "tenure": "Developing", "return": 0.05, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-03-14", "end": "2025-04-04", "tenure": "New", "return": -0.096215, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2025-04-11", "end": "2025-05-16", "tenure": "Developing", "return": 0.069325, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2025-05-23", "end": "2025-06-06", "tenure": "New", "return": -0.040482, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-06-13", "end": "2025-10-10", "tenure": "Established", "return": -0.039862, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-10-17", "end": "2026-01-30", "tenure": "Established", "return": -0.083652, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2026-02-06", "end": "2026-04-10", "tenure": "Developing", "return": -0.002115, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-04-17", "end": "2026-08-07", "tenure": "Established", "return": -0.030473, "active": true } ], "chart_path": [ { "date": "2023-08-18", "close": 85.352165, "volume": 4855938, "typical_volume": 7077336.45, "trend": 81.542318, "fair_value": 72.893571, "relative_strength": 6.545113, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 38.396774, "energy": 17.409294, "activity_lines": [ 84.107882, 83.818201, 83.873722, 83.274476 ] }, { "date": "2023-08-25", "close": 85.970535, "volume": 4984482, "typical_volume": 6925153.4, "trend": 81.901778, "fair_value": 73.021045, "relative_strength": 6.174488, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 53.88911, "energy": 29.045066, "activity_lines": [ 84.745991, 84.205058, 84.043865, 83.560167 ] }, { "date": "2023-09-01", "close": 85.883438, "volume": 5709838, "typical_volume": 6873793.55, "trend": 82.381758, "fair_value": 73.155235, "relative_strength": 4.967371, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 52.863291, "energy": 41.824767, "activity_lines": [ 85.349262, 84.527781, 84.205898, 83.817048 ] }, { "date": "2023-09-08", "close": 87.390167, "volume": 5063261, "typical_volume": 6740143.3, "trend": 82.812329, "fair_value": 73.279304, "relative_strength": 7.433232, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 62.282255, "energy": 54.382731, "activity_lines": [ 86.242848, 85.124296, 84.510428, 84.140171 ] }, { "date": "2023-09-15", "close": 89.532684, "volume": 9959020, "typical_volume": 6731716.95, "trend": 83.303122, "fair_value": 73.412624, "relative_strength": 7.855689, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 73.78895, "energy": 65.959298, "activity_lines": [ 87.477842, 86.076472, 85.014191, 84.573743 ] }, { "date": "2023-09-22", "close": 88.923019, "volume": 6445825, "typical_volume": 6665202.3, "trend": 83.750923, "fair_value": 73.551153, "relative_strength": 9.83807, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 67.382742, "energy": 66.323967, "activity_lines": [ 88.176916, 86.777658, 85.433357, 84.936317 ] }, { "date": "2023-09-29", "close": 88.383049, "volume": 7052312, "typical_volume": 6706469.8, "trend": 84.201156, "fair_value": 73.688861, "relative_strength": 9.75192, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 60.6205, "energy": 61.885156, "activity_lines": [ 88.457943, 87.247651, 85.783703, 85.235164 ] }, { "date": "2023-10-06", "close": 89.010109, "volume": 6597637, "typical_volume": 6733891.1, "trend": 84.661936, "fair_value": 73.829443, "relative_strength": 11.487579, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 62.838723, "energy": 61.229138, "activity_lines": [ 88.787156, 87.786207, 86.169912, 85.545419 ] }, { "date": "2023-10-13", "close": 90.037819, "volume": 7090503, "typical_volume": 6739693.4, "trend": 85.149976, "fair_value": 73.978008, "relative_strength": 13.43372, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 66.300891, "energy": 54.786326, "activity_lines": [ 89.250493, 88.396973, 86.636429, 85.89225 ] }, { "date": "2023-10-20", "close": 86.07505, "volume": 6536188, "typical_volume": 6641435.65, "trend": 85.301619, "fair_value": 74.116564, "relative_strength": 11.179649, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 54.074517, "energy": 33.30959, "activity_lines": [ 88.216398, 88.137433, 86.694202, 85.951932 ] }, { "date": "2023-10-27", "close": 70.929398, "volume": 13102691, "typical_volume": 7029873.15, "trend": 84.860529, "fair_value": 74.185783, "relative_strength": -7.931022, "stage": 4, "regime": "rotation_down", "modifier": "Structural failure", "gate": "mixed", "direction": -39.091046, "energy": 33.884969, "activity_lines": [ 82.364261, 85.096269, 85.293564, 85.024692 ] }, { "date": "2023-11-03", "close": 74.33477, "volume": 12463682, "typical_volume": 7199410.55, "trend": 84.471381, "fair_value": 74.247188, "relative_strength": -6.812144, "stage": 4, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -77.82452, "energy": 70.170583, "activity_lines": [ 78.846823, 82.936495, 84.275145, 84.345611 ] }, { "date": "2023-11-10", "close": 74.151871, "volume": 8442214, "typical_volume": 7225396.25, "trend": 84.08733, "fair_value": 74.295066, "relative_strength": -7.013818, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -72.569539, "energy": 82.979015, "activity_lines": [ 76.20497, 80.955026, 83.282065, 83.679836 ] }, { "date": "2023-11-17", "close": 74.805077, "volume": 9181482, "typical_volume": 7336420.6, "trend": 83.701544, "fair_value": 74.346881, "relative_strength": -8.561329, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -63.428898, "energy": 83.327612, "activity_lines": [ 74.771402, 79.305623, 82.407019, 83.080981 ] }, { "date": "2023-11-24", "close": 75.231834, "volume": 4871827, "typical_volume": 7238818.55, "trend": 83.410585, "fair_value": 74.404621, "relative_strength": -8.683858, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -64.11605, "energy": 81.600854, "activity_lines": [ 74.495602, 77.962632, 81.62367, 82.534548 ] }, { "date": "2023-12-01", "close": 74.709274, "volume": 9552534, "typical_volume": 7416429.35, "trend": 83.058548, "fair_value": 74.467032, "relative_strength": -9.898323, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -64.313246, "energy": 69.982772, "activity_lines": [ 74.768497, 76.784645, 80.821949, 81.973173 ] }, { "date": "2023-12-08", "close": 75.014091, "volume": 8115804, "typical_volume": 7553143.45, "trend": 82.779923, "fair_value": 74.556705, "relative_strength": -11.519755, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -60.755083, "energy": 50.792441, "activity_lines": [ 74.891005, 75.920512, 80.082104, 81.454176 ] }, { "date": "2023-12-15", "close": 76.381477, "volume": 11395362, "typical_volume": 7774472.85, "trend": 82.481947, "fair_value": 74.652703, "relative_strength": -10.535628, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -57.01132, "energy": 43.515554, "activity_lines": [ 75.424021, 75.548066, 79.524246, 81.041373 ] }, { "date": "2023-12-22", "close": 77.809814, "volume": 6219255, "typical_volume": 7669560.3, "trend": 82.293713, "fair_value": 74.761195, "relative_strength": -8.294861, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -43.704665, "energy": 33.499395, "activity_lines": [ 76.284509, 75.664929, 79.132529, 80.739945 ] }, { "date": "2023-12-29", "close": 78.175613, "volume": 2567851, "typical_volume": 7510385.3, "trend": 82.142169, "fair_value": 74.870237, "relative_strength": -7.34585, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -40.219665, "energy": 26.633606, "activity_lines": [ 77.066614, 76.070629, 78.794646, 80.474261 ] }, { "date": "2024-01-05", "close": 81.415512, "volume": 4740495, "typical_volume": 7504613.15, "trend": 82.086428, "fair_value": 74.9996, "relative_strength": -1.882862, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -25.54764, "energy": 20.384762, "activity_lines": [ 78.732433, 77.209027, 78.795641, 80.42738 ] }, { "date": "2024-01-12", "close": 83.305458, "volume": 5750327, "typical_volume": 7542905.4, "trend": 82.086138, "fair_value": 75.127428, "relative_strength": -0.247498, "stage": 3, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -5.604643, "energy": 17.670841, "activity_lines": [ 80.581152, 78.500395, 78.995377, 80.506027 ] }, { "date": "2024-01-19", "close": 81.903236, "volume": 6111872, "typical_volume": 7563007.1, "trend": 81.953755, "fair_value": 75.246615, "relative_strength": -0.720485, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -1.776474, "energy": 19.549763, "activity_lines": [ 81.409706, 79.37371, 79.074259, 80.494227 ] }, { "date": "2024-01-26", "close": 80.196198, "volume": 7365347, "typical_volume": 7678111.4, "trend": 81.776083, "fair_value": 75.376333, "relative_strength": -6.117918, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -1.074511, "energy": 23.792556, "activity_lines": [ 81.30113, 79.795721, 79.009519, 80.380836 ] }, { "date": "2024-02-02", "close": 76.26825, "volume": 8520938, "typical_volume": 7606207.3, "trend": 81.590863, "fair_value": 75.466622, "relative_strength": -10.248945, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -27.562596, "energy": 20.321509, "activity_lines": [ 79.724145, 79.405539, 78.604946, 80.025492 ] }, { "date": "2024-02-09", "close": 75.336349, "volume": 6267559, "typical_volume": 7597294.0, "trend": 81.381837, "fair_value": 75.560155, "relative_strength": -11.896228, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -52.305996, "energy": 37.172477, "activity_lines": [ 77.963685, 78.827077, 78.174784, 79.621975 ] }, { "date": "2024-02-16", "close": 75.301506, "volume": 6065878, "typical_volume": 7547972.3, "trend": 81.029106, "fair_value": 75.659194, "relative_strength": -13.232051, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -54.348076, "energy": 58.783501, "activity_lines": [ 76.596887, 78.230878, 77.806003, 79.229696 ] }, { "date": "2024-02-23", "close": 78.132072, "volume": 7094267, "typical_volume": 7572803.8, "trend": 80.876692, "fair_value": 75.782405, "relative_strength": -12.108396, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -44.019554, "energy": 42.082811, "activity_lines": [ 76.707209, 78.144102, 77.769092, 79.04279 ] }, { "date": "2024-03-01", "close": 76.041817, "volume": 7332428, "typical_volume": 7584900.05, "trend": 80.684795, "fair_value": 75.884346, "relative_strength": -14.019487, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -49.704076, "energy": 53.806309, "activity_lines": [ 76.372189, 77.64545, 77.584909, 78.730863 ] }, { "date": "2024-03-08", "close": 76.372765, "volume": 5359459, "typical_volume": 7526063.6, "trend": 80.412481, "fair_value": 75.975754, "relative_strength": -14.522052, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -56.073375, "energy": 45.708103, "activity_lines": [ 76.424445, 77.239116, 77.498893, 78.452667 ] }, { "date": "2024-03-15", "close": 76.816948, "volume": 7451682, "typical_volume": 7243513.15, "trend": 80.127973, "fair_value": 76.051178, "relative_strength": -15.244178, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -51.676406, "energy": 30.782747, "activity_lines": [ 76.617793, 76.946322, 77.501382, 78.220697 ] }, { "date": "2024-03-22", "close": 77.20887, "volume": 6481959, "typical_volume": 6944427.0, "trend": 79.835918, "fair_value": 76.129761, "relative_strength": -14.362867, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -40.399923, "energy": 25.154191, "activity_lines": [ 76.843076, 76.808397, 77.51316, 78.032368 ] }, { "date": "2024-03-29", "close": 79.220741, "volume": 5833181, "typical_volume": 6813975.35, "trend": 79.613828, "fair_value": 76.218103, "relative_strength": -12.428319, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -20.889299, "energy": 10.327536, "activity_lines": [ 77.611825, 77.147113, 77.702859, 77.992679 ] }, { "date": "2024-04-05", "close": 76.067932, "volume": 5717369, "typical_volume": 6640769.7, "trend": 79.23642, "fair_value": 76.281949, "relative_strength": -14.060509, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -40.926341, "energy": 17.047282, "activity_lines": [ 77.25706, 76.961364, 77.568153, 77.763912 ] }, { "date": "2024-04-12", "close": 75.310219, "volume": 5654884, "typical_volume": 6679922.55, "trend": 78.762338, "fair_value": 76.341188, "relative_strength": -14.0806, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -56.148077, "energy": 25.361385, "activity_lines": [ 76.647982, 76.712908, 77.35527, 77.510609 ] }, { "date": "2024-04-19", "close": 75.676018, "volume": 7353178, "typical_volume": 6569954.75, "trend": 78.320771, "fair_value": 76.401127, "relative_strength": -13.488808, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -51.48439, "energy": 26.794875, "activity_lines": [ 76.231674, 76.54838, 77.176852, 77.311491 ] }, { "date": "2024-04-26", "close": 79.455902, "volume": 9154109, "typical_volume": 6621870.0, "trend": 78.0232, "fair_value": 76.475681, "relative_strength": -9.686591, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -16.064819, "energy": 10.553502, "activity_lines": [ 77.15139, 77.064928, 77.35382, 77.384725 ] }, { "date": "2024-05-03", "close": 79.516869, "volume": 5949933, "typical_volume": 6349598.55, "trend": 77.706758, "fair_value": 76.543367, "relative_strength": -7.892222, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 25.417984, "energy": 13.066607, "activity_lines": [ 77.941625, 77.517026, 77.515442, 77.481091 ] }, { "date": "2024-05-10", "close": 82.155815, "volume": 5919752, "typical_volume": 6334623.4, "trend": 77.444025, "fair_value": 76.621347, "relative_strength": -7.659644, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 69.125044, "energy": 56.953191, "activity_lines": [ 79.591767, 78.423755, 77.913462, 77.768127 ] }, { "date": "2024-05-17", "close": 80.885872, "volume": 8363317, "typical_volume": 6624396.7, "trend": 77.271052, "fair_value": 76.683375, "relative_strength": -8.270226, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 59.882177, "energy": 61.087125, "activity_lines": [ 80.412737, 78.988421, 78.16984, 77.990182 ] }, { "date": "2024-05-24", "close": 81.203362, "volume": 5569415, "typical_volume": 6665842.7, "trend": 77.613518, "fair_value": 76.748834, "relative_strength": -6.857573, "stage": 4, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 61.524655, "energy": 66.473062, "activity_lines": [ 80.967826, 79.528756, 78.443549, 78.243879 ] }, { "date": "2024-05-31", "close": 81.421066, "volume": 7451442, "typical_volume": 6750898.45, "trend": 77.849728, "fair_value": 76.825415, "relative_strength": -5.213345, "stage": 4, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 64.105156, "energy": 66.95028, "activity_lines": [ 81.226993, 80.028921, 78.739002, 78.489527 ] }, { "date": "2024-06-07", "close": 82.663788, "volume": 6803538, "typical_volume": 6785481.75, "trend": 78.133458, "fair_value": 76.895373, "relative_strength": -3.669186, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 68.992818, "energy": 60.282097, "activity_lines": [ 81.76939, 80.67845, 79.161783, 78.800112 ] }, { "date": "2024-06-14", "close": 78.400429, "volume": 8048371, "typical_volume": 6819632.95, "trend": 78.253303, "fair_value": 76.942761, "relative_strength": -2.422405, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 50.090119, "energy": 30.939421, "activity_lines": [ 80.680873, 80.490222, 79.174908, 78.817336 ] }, { "date": "2024-06-21", "close": 79.479881, "volume": 10781069, "typical_volume": 6932639.5, "trend": 78.394905, "fair_value": 76.995672, "relative_strength": -2.428726, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 39.290347, "energy": 21.931392, "activity_lines": [ 80.202532, 80.455848, 79.299389, 78.89647 ] }, { "date": "2024-06-28", "close": 81.584343, "volume": 8881351, "typical_volume": 7063329.1, "trend": 78.624074, "fair_value": 77.063884, "relative_strength": 2.271913, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 45.147638, "energy": 23.450917, "activity_lines": [ 80.519411, 80.728292, 79.609001, 79.10224 ] }, { "date": "2024-07-05", "close": 82.49144, "volume": 6436702, "typical_volume": 7081870.3, "trend": 78.873319, "fair_value": 77.141429, "relative_strength": 0.903407, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 58.425984, "energy": 27.821312, "activity_lines": [ 81.113257, 81.058239, 79.975252, 79.351748 ] }, { "date": "2024-07-12", "close": 85.629997, "volume": 7361212, "typical_volume": 7095217.55, "trend": 79.181603, "fair_value": 77.23573, "relative_strength": 4.07841, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 73.613315, "energy": 56.4031, "activity_lines": [ 82.681931, 81.903641, 80.606175, 79.787662 ] }, { "date": "2024-07-19", "close": 83.779518, "volume": 6013159, "typical_volume": 7029254.1, "trend": 79.380593, "fair_value": 77.317134, "relative_strength": 4.476514, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 59.757692, "energy": 60.966264, "activity_lines": [ 83.436031, 82.301445, 81.025157, 80.084302 ] }, { "date": "2024-07-26", "close": 87.825172, "volume": 7769617, "typical_volume": 7149762.0, "trend": 79.702245, "fair_value": 77.430628, "relative_strength": 9.64401, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 79.543584, "energy": 76.975884, "activity_lines": [ 85.180076, 83.4053, 81.792593, 80.629114 ] }, { "date": "2024-08-02", "close": 87.217415, "volume": 7905393, "typical_volume": 7172447.55, "trend": 79.895642, "fair_value": 77.543486, "relative_strength": 12.705596, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 72.354941, "energy": 76.61053, "activity_lines": [ 86.165183, 84.272484, 82.447613, 81.113963 ] }, { "date": "2024-08-09", "close": 87.308128, "volume": 7756924, "typical_volume": 7236195.8, "trend": 80.029064, "fair_value": 77.650717, "relative_strength": 12.445133, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 68.276879, "energy": 71.971266, "activity_lines": [ 86.80499, 85.046816, 83.061746, 81.592188 ] }, { "date": "2024-08-16", "close": 89.412598, "volume": 5559521, "typical_volume": 7222512.8, "trend": 80.279376, "fair_value": 77.754469, "relative_strength": 12.355396, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 76.489757, "energy": 77.837331, "activity_lines": [ 87.825174, 86.096741, 83.828213, 82.197577 ] }, { "date": "2024-08-23", "close": 91.01815, "volume": 5015336, "typical_volume": 7187411.15, "trend": 80.640108, "fair_value": 77.881705, "relative_strength": 12.426302, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 78.968687, "energy": 78.783302, "activity_lines": [ 89.128369, 87.315878, 84.699057, 82.890402 ] }, { "date": "2024-08-30", "close": 91.798256, "volume": 6332814, "typical_volume": 7221307.65, "trend": 81.157775, "fair_value": 78.01565, "relative_strength": 12.536237, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 77.946939, "energy": 80.803007, "activity_lines": [ 90.209023, 88.44744, 85.573005, 83.610282 ] }, { "date": "2024-09-06", "close": 94.827965, "volume": 9702608, "typical_volume": 7338779.15, "trend": 81.807495, "fair_value": 78.199954, "relative_strength": 20.476666, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 84.992275, "energy": 88.760139, "activity_lines": [ 92.034708, 89.905888, 86.656983, 84.49223 ] }, { "date": "2024-09-13", "close": 93.793877, "volume": 6820825, "typical_volume": 7222114.95, "trend": 82.423907, "fair_value": 78.379285, "relative_strength": 17.269283, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 73.748489, "energy": 85.557545, "activity_lines": [ 93.008327, 90.935527, 87.551276, 85.265545 ] }, { "date": "2024-09-20", "close": 93.920868, "volume": 9326342, "typical_volume": 7390935.4, "trend": 82.950201, "fair_value": 78.556998, "relative_strength": 16.849339, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 70.41895, "energy": 80.308102, "activity_lines": [ 93.591894, 91.782756, 88.389387, 86.007284 ] }, { "date": "2024-09-27", "close": 93.412895, "volume": 7739049, "typical_volume": 7481900.25, "trend": 83.529237, "fair_value": 78.728403, "relative_strength": 11.949136, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 66.511282, "energy": 72.611697, "activity_lines": [ 93.705584, 92.386884, 89.11053, 86.682297 ] }, { "date": "2024-10-04", "close": 92.269951, "volume": 7385097, "typical_volume": 7432989.25, "trend": 84.059143, "fair_value": 78.883737, "relative_strength": 14.327882, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 62.761362, "energy": 54.869027, "activity_lines": [ 93.278644, 92.608051, 89.669216, 87.246214 ] }, { "date": "2024-10-11", "close": 90.836731, "volume": 5606460, "typical_volume": 7434841.5, "trend": 84.526469, "fair_value": 79.032264, "relative_strength": 12.184646, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 49.008699, "energy": 41.646917, "activity_lines": [ 92.342517, 92.487818, 90.037194, 87.683478 ] }, { "date": "2024-10-18", "close": 91.45356, "volume": 7236612, "typical_volume": 7424100.0, "trend": 85.001292, "fair_value": 79.178175, "relative_strength": 12.549438, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 44.210916, "energy": 33.610712, "activity_lines": [ 91.878082, 92.41393, 90.418045, 88.130387 ] }, { "date": "2024-10-25", "close": 90.78231, "volume": 7281562, "typical_volume": 7448001.2, "trend": 85.386678, "fair_value": 79.312954, "relative_strength": 13.104194, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 39.27713, "energy": 26.052276, "activity_lines": [ 91.345919, 92.142626, 90.687194, 88.503356 ] }, { "date": "2024-11-01", "close": 89.530518, "volume": 7781919, "typical_volume": 7434678.6, "trend": 85.83543, "fair_value": 79.429205, "relative_strength": 12.565304, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 32.772572, "energy": 21.810907, "activity_lines": [ 90.605728, 91.618819, 90.798465, 88.7707 ] }, { "date": "2024-11-08", "close": 86.845505, "volume": 7246231, "typical_volume": 7257936.7, "trend": 86.21994, "fair_value": 79.524313, "relative_strength": 9.97972, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 9.023738, "energy": 15.864274, "activity_lines": [ 89.229359, 90.633876, 90.60102, 88.835866 ] }, { "date": "2024-11-15", "close": 82.827065, "volume": 8847266, "typical_volume": 7256232.45, "trend": 86.458308, "fair_value": 79.595318, "relative_strength": 5.688148, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -21.826362, "energy": 31.96168, "activity_lines": [ 86.875139, 89.008357, 89.985792, 88.616971 ] }, { "date": "2024-11-22", "close": 84.514267, "volume": 7767629, "typical_volume": 7322778.8, "trend": 86.62692, "fair_value": 79.697263, "relative_strength": 7.801975, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -30.858846, "energy": 40.298761, "activity_lines": [ 85.617297, 87.9078, 89.525332, 88.491549 ] }, { "date": "2024-11-29", "close": 83.534599, "volume": 6888044, "typical_volume": 7299120.4, "trend": 86.760845, "fair_value": 79.799344, "relative_strength": 6.584452, "stage": 2, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -33.645409, "energy": 59.099033, "activity_lines": [ 84.495519, 86.797842, 88.961938, 88.292044 ] }, { "date": "2024-12-06", "close": 83.616241, "volume": 6495867, "typical_volume": 7323255.8, "trend": 86.809526, "fair_value": 79.887669, "relative_strength": 3.695962, "stage": 2, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -31.375612, "energy": 64.266594, "activity_lines": [ 83.884136, 85.89157, 88.416297, 88.089167 ] }, { "date": "2024-12-13", "close": 80.885872, "volume": 7701842, "typical_volume": 7319867.05, "trend": 86.809526, "fair_value": 79.956629, "relative_strength": 0.390962, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -53.709233, "energy": 71.748407, "activity_lines": [ 82.756915, 84.666988, 87.611399, 87.706996 ] }, { "date": "2024-12-20", "close": 82.79985, "volume": 14039270, "typical_volume": 7626560.9, "trend": 86.862742, "fair_value": 80.032839, "relative_strength": 4.471303, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -37.398665, "energy": 55.740024, "activity_lines": [ 82.664995, 83.997385, 87.021829, 87.448307 ] }, { "date": "2024-12-27", "close": 84.614052, "volume": 2610437, "typical_volume": 7369236.55, "trend": 86.969175, "fair_value": 80.116954, "relative_strength": 5.374225, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -34.008321, "energy": 38.371231, "activity_lines": [ 83.179624, 83.803762, 86.626075, 87.30323 ] }, { "date": "2025-01-03", "close": 84.242142, "volume": 3746640, "typical_volume": 7278592.5, "trend": 87.021787, "fair_value": 80.198582, "relative_strength": 5.853621, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -31.11217, "energy": 33.831908, "activity_lines": [ 83.56363, 83.666873, 86.207731, 87.127293 ] }, { "date": "2025-01-10", "close": 86.727585, "volume": 6956645, "typical_volume": 7375657.95, "trend": 87.299358, "fair_value": 80.285691, "relative_strength": 6.698147, "stage": 3, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -40.531666, "energy": 24.481385, "activity_lines": [ 84.728948, 84.100796, 86.050717, 87.108312 ] }, { "date": "2025-01-17", "close": 89.067902, "volume": 9112594, "typical_volume": 7514646.95, "trend": 87.618959, "fair_value": 80.386147, "relative_strength": 5.534089, "stage": 3, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -15.607139, "energy": 19.160898, "activity_lines": [ 86.466949, 85.011193, 86.137021, 87.222411 ] }, { "date": "2025-01-24", "close": 90.854881, "volume": 6391218, "typical_volume": 7349077.45, "trend": 87.927977, "fair_value": 80.48088, "relative_strength": 4.51745, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": 18.957736, "energy": 26.561742, "activity_lines": [ 88.25514, 86.206088, 86.406516, 87.431181 ] }, { "date": "2025-01-31", "close": 94.700974, "volume": 9930443, "typical_volume": 7504558.35, "trend": 88.334961, "fair_value": 80.620808, "relative_strength": 8.278503, "stage": 2, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 45.047958, "energy": 46.479025, "activity_lines": [ 90.788361, 87.954313, 87.061225, 87.868148 ] }, { "date": "2025-02-07", "close": 93.757591, "volume": 8729926, "typical_volume": 7474737.55, "trend": 88.605881, "fair_value": 80.736374, "relative_strength": 6.537121, "stage": 2, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 37.310245, "energy": 62.735203, "activity_lines": [ 92.334659, 89.3458, 87.621768, 88.217995 ] }, { "date": "2025-02-14", "close": 94.066002, "volume": 8188450, "typical_volume": 7497207.6, "trend": 88.948764, "fair_value": 80.858056, "relative_strength": 3.874497, "stage": 2, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 35.879057, "energy": 69.586241, "activity_lines": [ 93.349397, 90.60749, 88.212461, 88.570261 ] }, { "date": "2025-02-21", "close": 94.446991, "volume": 8137233, "typical_volume": 7534814.4, "trend": 89.169491, "fair_value": 80.977834, "relative_strength": 4.28111, "stage": 2, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 35.583599, "energy": 69.924343, "activity_lines": [ 94.001904, 91.748454, 88.836329, 88.924985 ] }, { "date": "2025-02-28", "close": 94.664688, "volume": 10707156, "typical_volume": 7789849.2, "trend": 89.417734, "fair_value": 81.13036, "relative_strength": 4.695828, "stage": 2, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 42.698498, "energy": 67.698291, "activity_lines": [ 94.368371, 92.682435, 89.470563, 89.279514 ] }, { "date": "2025-03-07", "close": 99.43602, "volume": 11853011, "typical_volume": 8020669.15, "trend": 89.821997, "fair_value": 81.283412, "relative_strength": 9.333379, "stage": 2, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "up", "direction": 87.799161, "energy": 83.021314, "activity_lines": [ 96.071295, 94.268205, 90.540981, 89.925855 ] }, { "date": "2025-03-14", "close": 96.351891, "volume": 11377292, "typical_volume": 8225455.65, "trend": 90.053307, "fair_value": 81.418402, "relative_strength": 6.688194, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 65.505765, "energy": 62.498336, "activity_lines": [ 96.430506, 95.023735, 91.27966, 90.347139 ] }, { "date": "2025-03-21", "close": 96.007187, "volume": 12680667, "typical_volume": 8470393.05, "trend": 90.219608, "fair_value": 81.552061, "relative_strength": 5.667227, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 63.888252, "energy": 58.719413, "activity_lines": [ 96.501862, 95.496414, 91.95899, 90.73126 ] }, { "date": "2025-03-28", "close": 93.793877, "volume": 9836668, "typical_volume": 8599914.9, "trend": 90.286129, "fair_value": 81.666256, "relative_strength": 4.495355, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 60.007231, "energy": 48.588582, "activity_lines": [ 95.706036, 95.397953, 92.396686, 90.961858 ] }, { "date": "2025-04-04", "close": 87.081352, "volume": 14100917, "typical_volume": 8862597.45, "trend": 90.027908, "fair_value": 81.684029, "relative_strength": 5.115184, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 15.824561, "energy": 15.095051, "activity_lines": [ 92.716242, 93.993106, 92.162007, 90.755098 ] }, { "date": "2025-04-11", "close": 81.294075, "volume": 17425012, "typical_volume": 9345466.6, "trend": 89.611248, "fair_value": 81.671534, "relative_strength": 0.134324, "stage": 4, "regime": "rotation_down", "modifier": "Structural failure", "gate": "mixed", "direction": -29.696761, "energy": 33.934712, "activity_lines": [ 88.302912, 91.604637, 91.3559, 90.191625 ] }, { "date": "2025-04-18", "close": 82.282806, "volume": 8663437, "typical_volume": 9434236.25, "trend": 89.223313, "fair_value": 81.674379, "relative_strength": -1.474975, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -41.217232, "energy": 48.269934, "activity_lines": [ 85.428622, 89.639698, 90.659292, 89.718822 ] }, { "date": "2025-04-25", "close": 83.779518, "volume": 10149181, "typical_volume": 9616901.95, "trend": 88.9022, "fair_value": 81.687956, "relative_strength": -3.225925, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -28.981279, "energy": 50.56934, "activity_lines": [ 83.991175, 88.155522, 90.111189, 89.36761 ] }, { "date": "2025-05-02", "close": 88.822983, "volume": 10839969, "typical_volume": 9773808.3, "trend": 88.787301, "fair_value": 81.735003, "relative_strength": -0.731798, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -25.930618, "energy": 52.225778, "activity_lines": [ 85.05006, 87.775366, 90.042638, 89.362499 ] }, { "date": "2025-05-09", "close": 84.287491, "volume": 11304923, "typical_volume": 9637090.95, "trend": 88.568993, "fair_value": 81.738228, "relative_strength": -5.615603, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -28.37054, "energy": 44.49896, "activity_lines": [ 84.928509, 86.67283, 89.504341, 89.072189 ] }, { "date": "2025-05-16", "close": 86.929764, "volume": 12751562, "typical_volume": 10144147.2, "trend": 88.4182, "fair_value": 81.744883, "relative_strength": -4.599089, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -18.693269, "energy": 20.755165, "activity_lines": [ 85.873972, 86.239383, 89.210604, 88.966432 ] }, { "date": "2025-05-23", "close": 87.26123, "volume": 8436686, "typical_volume": 10378649.5, "trend": 88.300831, "fair_value": 81.753231, "relative_strength": -2.552611, "stage": 4, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -4.311691, "energy": 8.542661, "activity_lines": [ 86.554211, 86.093589, 88.937408, 88.891789 ] }, { "date": "2025-05-30", "close": 82.885857, "volume": 12832943, "typical_volume": 10672464.4, "trend": 88.079342, "fair_value": 81.746019, "relative_strength": -7.725068, "stage": 4, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -26.780687, "energy": 21.4382, "activity_lines": [ 85.444097, 85.317558, 88.233133, 88.542436 ] }, { "date": "2025-06-06", "close": 83.728737, "volume": 10120307, "typical_volume": 10722850.05, "trend": 87.97545, "fair_value": 81.761378, "relative_strength": -7.480422, "stage": 4, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -30.154324, "energy": 23.691643, "activity_lines": [ 84.674521, 84.933348, 87.627427, 88.261751 ] }, { "date": "2025-06-13", "close": 82.203987, "volume": 10550767, "typical_volume": 10930827.5, "trend": 87.95468, "fair_value": 81.781496, "relative_strength": -7.782559, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -63.734094, "energy": 46.458282, "activity_lines": [ 83.736312, 84.454912, 86.901931, 87.889399 ] }, { "date": "2025-06-20", "close": 78.813545, "volume": 12854043, "typical_volume": 11077007.5, "trend": 87.764656, "fair_value": 81.745488, "relative_strength": -10.473982, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -73.272466, "energy": 67.126857, "activity_lines": [ 81.806855, 83.448712, 85.89473, 87.299648 ] }, { "date": "2025-06-27", "close": 78.122192, "volume": 8404459, "typical_volume": 11060734.15, "trend": 87.584243, "fair_value": 81.72141, "relative_strength": -12.325687, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -72.900361, "energy": 73.368747, "activity_lines": [ 80.188029, 82.361912, 84.897341, 86.677554 ] }, { "date": "2025-07-04", "close": 78.879837, "volume": 7936678, "typical_volume": 11048145.55, "trend": 87.426363, "fair_value": 81.692447, "relative_strength": -11.456485, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -68.364951, "energy": 75.019096, "activity_lines": [ 79.43102, 81.488514, 84.046563, 86.115979 ] }, { "date": "2025-07-11", "close": 78.633606, "volume": 9150272, "typical_volume": 11098797.5, "trend": 87.351287, "fair_value": 81.657223, "relative_strength": -13.08204, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -67.875366, "energy": 78.096382, "activity_lines": [ 78.859002, 80.659431, 83.244649, 85.548705 ] }, { "date": "2025-07-18", "close": 78.718842, "volume": 6487980, "typical_volume": 10887838.7, "trend": 87.215254, "fair_value": 81.637831, "relative_strength": -12.760795, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -64.230631, "energy": 71.978814, "activity_lines": [ 78.655072, 80.031107, 82.526155, 84.991773 ] }, { "date": "2025-07-25", "close": 80.60347, "volume": 6609316, "typical_volume": 10625653.95, "trend": 87.081567, "fair_value": 81.631327, "relative_strength": -10.600157, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -60.425511, "energy": 49.910607, "activity_lines": [ 79.311693, 79.84669, 82.063081, 84.565206 ] }, { "date": "2025-08-01", "close": 76.086037, "volume": 13794195, "typical_volume": 10746499.1, "trend": 86.809697, "fair_value": 81.59425, "relative_strength": -12.09957, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -72.715542, "energy": 51.718327, "activity_lines": [ 78.343176, 78.955946, 81.259455, 83.855817 ] }, { "date": "2025-08-08", "close": 76.644798, "volume": 10493941, "typical_volume": 10637162.8, "trend": 86.473604, "fair_value": 81.62561, "relative_strength": -13.398499, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -66.836903, "energy": 50.450574, "activity_lines": [ 77.696656, 78.36998, 80.605548, 83.200017 ] }, { "date": "2025-08-15", "close": 80.451935, "volume": 7131145, "typical_volume": 10501886.65, "trend": 86.186405, "fair_value": 81.701826, "relative_strength": -10.889894, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -56.17376, "energy": 40.66078, "activity_lines": [ 78.468184, 78.589695, 80.406428, 82.811522 ] }, { "date": "2025-08-22", "close": 82.715385, "volume": 6148470, "typical_volume": 10104264.3, "trend": 85.915089, "fair_value": 81.791313, "relative_strength": -8.662586, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -38.841635, "energy": 27.918246, "activity_lines": [ 79.872974, 79.280524, 80.486407, 82.587585 ] }, { "date": "2025-08-29", "close": 80.016296, "volume": 7723140, "typical_volume": 9619170.7, "trend": 85.4256, "fair_value": 81.865921, "relative_strength": -8.339731, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -35.562328, "energy": 19.926617, "activity_lines": [ 80.111631, 79.471311, 80.33012, 82.207018 ] }, { "date": "2025-09-05", "close": 75.290512, "volume": 17701071, "typical_volume": 10071052.4, "trend": 84.81003, "fair_value": 81.911527, "relative_strength": -12.96993, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -56.348941, "energy": 27.739396, "activity_lines": [ 78.814171, 78.780997, 79.729844, 81.553142 ] }, { "date": "2025-09-12", "close": 76.426971, "volume": 8564891, "typical_volume": 9991837.9, "trend": 84.222063, "fair_value": 81.960865, "relative_strength": -12.939419, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -58.985848, "energy": 34.334265, "activity_lines": [ 77.948566, 78.348797, 79.271098, 81.012299 ] }, { "date": "2025-09-19", "close": 76.199684, "volume": 10919054, "typical_volume": 9995792.15, "trend": 83.613819, "fair_value": 82.025162, "relative_strength": -13.091563, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -59.063175, "energy": 43.985958, "activity_lines": [ 77.021721, 77.919869, 78.825718, 80.494726 ] }, { "date": "2025-09-26", "close": 74.172997, "volume": 8566118, "typical_volume": 9858851.9, "trend": 82.930763, "fair_value": 82.078675, "relative_strength": -15.21219, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -67.086088, "energy": 60.785246, "activity_lines": [ 75.702797, 77.166706, 78.247431, 79.885641 ] }, { "date": "2025-10-03", "close": 82.203987, "volume": 14573400, "typical_volume": 9949943.8, "trend": 82.356362, "fair_value": 82.174195, "relative_strength": -8.15578, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -37.105199, "energy": 25.247911, "activity_lines": [ 77.630362, 77.956375, 78.482165, 79.838752 ] }, { "date": "2025-10-10", "close": 78.927185, "volume": 7696219, "typical_volume": 9912920.45, "trend": 81.775538, "fair_value": 82.241121, "relative_strength": -9.678858, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -35.71759, "energy": 18.754908, "activity_lines": [ 78.319814, 78.121162, 78.427326, 79.617515 ] }, { "date": "2025-10-17", "close": 81.853577, "volume": 8206253, "typical_volume": 9681585.95, "trend": 81.303751, "fair_value": 82.326807, "relative_strength": -8.948696, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -6.741711, "energy": 8.32901, "activity_lines": [ 79.742284, 78.766362, 78.690877, 79.62255 ] }, { "date": "2025-10-24", "close": 84.088615, "volume": 9818577, "typical_volume": 9666499.45, "trend": 80.980242, "fair_value": 82.4019, "relative_strength": -6.739861, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 23.501245, "energy": 25.390661, "activity_lines": [ 81.547994, 79.723228, 79.172204, 79.802218 ] }, { "date": "2025-10-31", "close": 82.961624, "volume": 7572740, "typical_volume": 9517598.1, "trend": 80.842918, "fair_value": 82.460727, "relative_strength": -6.498666, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 19.694268, "energy": 33.563105, "activity_lines": [ 82.452111, 80.409065, 79.544485, 79.930049 ] }, { "date": "2025-11-07", "close": 80.916, "volume": 7658344, "typical_volume": 9257813.15, "trend": 80.830316, "fair_value": 82.535774, "relative_strength": -6.571573, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 17.658768, "energy": 32.984588, "activity_lines": [ 82.088445, 80.718493, 79.718337, 79.934764 ] }, { "date": "2025-11-14", "close": 84.846252, "volume": 7108040, "typical_volume": 9192992.2, "trend": 80.915764, "fair_value": 82.616585, "relative_strength": -4.500441, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 38.033111, "energy": 47.521205, "activity_lines": [ 83.120729, 81.726154, 80.256487, 80.193857 ] }, { "date": "2025-11-21", "close": 81.749397, "volume": 10535580, "typical_volume": 9322937.3, "trend": 80.848093, "fair_value": 82.669472, "relative_strength": -5.590456, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 25.78563, "energy": 25.678502, "activity_lines": [ 82.726124, 81.99701, 80.467679, 80.24764 ] }, { "date": "2025-11-28", "close": 81.219055, "volume": 9162969, "typical_volume": 9323572.15, "trend": 80.594629, "fair_value": 82.728485, "relative_strength": -7.566812, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 21.700428, "energy": 16.167882, "activity_lines": [ 82.161683, 82.074669, 80.614698, 80.271573 ] }, { "date": "2025-12-05", "close": 80.49929, "volume": 8896453, "typical_volume": 9443995.8, "trend": 80.468355, "fair_value": 82.766953, "relative_strength": -8.077255, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 10.008694, "energy": 11.019695, "activity_lines": [ 81.548624, 81.9302, 80.680856, 80.265422 ] }, { "date": "2025-12-12", "close": 78.908249, "volume": 9765259, "typical_volume": 9601792.95, "trend": 80.200972, "fair_value": 82.801197, "relative_strength": -9.195091, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -7.221506, "energy": 10.18747, "activity_lines": [ 80.569374, 81.381427, 80.587008, 80.16477 ] }, { "date": "2025-12-19", "close": 78.018021, "volume": 14816299, "typical_volume": 9652898.15, "trend": 79.892865, "fair_value": 82.81165, "relative_strength": -10.842739, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -5.302415, "energy": 13.32959, "activity_lines": [ 79.427232, 80.730718, 80.416448, 80.023934 ] }, { "date": "2025-12-26", "close": 77.288795, "volume": 4507453, "typical_volume": 9353573.75, "trend": 79.706296, "fair_value": 82.823564, "relative_strength": -10.841073, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -20.471015, "energy": 22.686354, "activity_lines": [ 78.497229, 79.963952, 80.167239, 79.85593 ] }, { "date": "2026-01-02", "close": 77.961197, "volume": 4809299, "typical_volume": 9237481.45, "trend": 79.514045, "fair_value": 82.832899, "relative_strength": -10.741175, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -19.044405, "energy": 32.578498, "activity_lines": [ 78.088734, 79.402437, 79.979002, 79.743343 ] }, { "date": "2026-01-09", "close": 79.968948, "volume": 8324128, "typical_volume": 9346264.35, "trend": 79.439543, "fair_value": 82.854782, "relative_strength": -9.927102, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -15.412597, "energy": 25.016863, "activity_lines": [ 78.56668, 79.317375, 79.993839, 79.772691 ] }, { "date": "2026-01-16", "close": 76.502739, "volume": 8787986, "typical_volume": 9399506.65, "trend": 79.362516, "fair_value": 82.856867, "relative_strength": -12.391742, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -27.863995, "energy": 32.463896, "activity_lines": [ 77.924579, 78.656506, 79.69164, 79.58322 ] }, { "date": "2026-01-23", "close": 75.110573, "volume": 11031415, "typical_volume": 9066023.85, "trend": 79.262129, "fair_value": 82.856379, "relative_strength": -12.405522, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -43.020004, "energy": 43.803104, "activity_lines": [ 76.97879, 77.822756, 79.273584, 79.308901 ] }, { "date": "2026-01-30", "close": 75.006401, "volume": 11236018, "typical_volume": 9199580.2, "trend": 79.133015, "fair_value": 82.878958, "relative_strength": -11.917763, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -67.129448, "energy": 54.61343, "activity_lines": [ 76.192107, 77.147079, 78.846465, 79.034338 ] }, { "date": "2026-02-06", "close": 76.10498, "volume": 11798759, "typical_volume": 9243565.45, "trend": 79.048727, "fair_value": 82.889419, "relative_strength": -11.804347, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -58.738323, "energy": 58.687892, "activity_lines": [ 75.923777, 76.793743, 78.530736, 78.838981 ] }, { "date": "2026-02-13", "close": 73.510063, "volume": 16222528, "typical_volume": 9626385.95, "trend": 78.875101, "fair_value": 82.881093, "relative_strength": -14.782391, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -70.162269, "energy": 67.115486, "activity_lines": [ 74.914222, 76.061587, 77.968324, 78.481648 ] }, { "date": "2026-02-20", "close": 75.36628, "volume": 11103013, "typical_volume": 9452866.6, "trend": 78.700528, "fair_value": 82.880307, "relative_strength": -14.287174, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -59.019786, "energy": 55.856554, "activity_lines": [ 74.953998, 75.794003, 77.585851, 78.255272 ] }, { "date": "2026-02-27", "close": 77.847549, "volume": 11060392, "typical_volume": 9621075.25, "trend": 78.759245, "fair_value": 82.899355, "relative_strength": -11.711436, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -52.769718, "energy": 32.891514, "activity_lines": [ 75.896628, 76.041957, 77.472249, 78.200242 ] }, { "date": "2026-03-06", "close": 72.345184, "volume": 12900896, "typical_volume": 9855807.4, "trend": 78.615925, "fair_value": 82.88114, "relative_strength": -11.394276, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -70.521909, "energy": 43.158808, "activity_lines": [ 74.822671, 75.292581, 76.839754, 77.786431 ] }, { "date": "2026-03-13", "close": 72.345184, "volume": 10598268, "typical_volume": 9894791.95, "trend": 78.3457, "fair_value": 82.861579, "relative_strength": -9.99216, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -66.452069, "energy": 43.106334, "activity_lines": [ 73.926128, 74.633089, 76.252538, 77.381867 ] }, { "date": "2026-03-20", "close": 73.671059, "volume": 20348199, "typical_volume": 10533564.9, "trend": 78.044222, "fair_value": 82.811229, "relative_strength": -4.983864, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -57.931353, "energy": 41.319779, "activity_lines": [ 73.722197, 74.316774, 75.847516, 77.080277 ] }, { "date": "2026-03-27", "close": 77.648666, "volume": 12802551, "typical_volume": 10790775.25, "trend": 77.965301, "fair_value": 82.769476, "relative_strength": 0.009762, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -46.785801, "energy": 31.687151, "activity_lines": [ 74.833402, 74.838167, 75.865554, 77.054758 ] }, { "date": "2026-04-03", "close": 78.207436, "volume": 9795774, "typical_volume": 10925161.95, "trend": 78.062532, "fair_value": 82.719464, "relative_strength": -2.164404, "stage": 1, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -25.221017, "energy": 13.221838, "activity_lines": [ 75.978705, 75.440321, 75.952368, 77.070379 ] }, { "date": "2026-04-10", "close": 75.943985, "volume": 11500718, "typical_volume": 10973418.85, "trend": 78.046432, "fair_value": 82.657096, "relative_strength": -8.018513, "stage": 1, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -28.008646, "energy": 18.002328, "activity_lines": [ 76.345531, 75.574631, 75.855228, 76.933699 ] }, { "date": "2026-04-17", "close": 77.677078, "volume": 9965207, "typical_volume": 11013530.75, "trend": 78.095679, "fair_value": 82.601317, "relative_strength": -7.398409, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -7.442443, "energy": 14.899706, "activity_lines": [ 77.050135, 76.007001, 75.950789, 76.90987 ] }, { "date": "2026-04-24", "close": 75.839806, "volume": 11866168, "typical_volume": 11162016.5, "trend": 78.151239, "fair_value": 82.549261, "relative_strength": -6.296696, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -13.656838, "energy": 12.772173, "activity_lines": [ 76.786856, 76.076739, 75.888239, 76.764329 ] }, { "date": "2026-05-01", "close": 75.593575, "volume": 8430200, "typical_volume": 11095263.55, "trend": 77.930892, "fair_value": 82.48723, "relative_strength": -5.719667, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -18.027805, "energy": 8.880778, "activity_lines": [ 76.296916, 76.059349, 75.824426, 76.599319 ] }, { "date": "2026-05-08", "close": 73.099998, "volume": 13928969, "typical_volume": 11050897.05, "trend": 77.736653, "fair_value": 82.421378, "relative_strength": -8.470324, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -45.599227, "energy": 23.192685, "activity_lines": [ 75.11279, 75.584448, 75.538914, 76.287648 ] }, { "date": "2026-05-15", "close": 73.959999, "volume": 10270786, "typical_volume": 11339063.7, "trend": 77.473533, "fair_value": 82.348553, "relative_strength": -5.211203, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -52.420519, "energy": 36.895199, "activity_lines": [ 74.555827, 75.35223, 75.358726, 76.043993 ] }, { "date": "2026-05-22", "close": 76.879997, "volume": 10280616, "typical_volume": 11612629.55, "trend": 77.233246, "fair_value": 82.306394, "relative_strength": -3.106629, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -29.006257, "energy": 19.185715, "activity_lines": [ 75.104462, 75.621561, 75.472484, 76.0057 ] }, { "date": "2026-05-29", "close": 75.290001, "volume": 13347573, "typical_volume": 11863801.8, "trend": 76.977525, "fair_value": 82.258753, "relative_strength": -5.617285, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -35.260265, "energy": 19.699173, "activity_lines": [ 75.176237, 75.51935, 75.439963, 75.88033 ] }, { "date": "2026-06-05", "close": 77.949997, "volume": 2189664, "typical_volume": 11533885.7, "trend": 76.878658, "fair_value": 82.225819, "relative_strength": -2.458577, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -5.18862, "energy": 5.578002, "activity_lines": [ 76.171332, 75.87134, 75.683055, 75.94307 ] }, { "date": "2026-06-12", "close": 76.589996, "volume": 2580601, "typical_volume": 11111345.0, "trend": 76.60345, "fair_value": 82.182715, "relative_strength": -5.3971, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -11.314717, "energy": 12.177371, "activity_lines": [ 76.555998, 75.970578, 75.789732, 75.924447 ] }, { "date": "2026-06-19", "close": 74.139999, "volume": 6466073, "typical_volume": 10872847.75, "trend": 76.349803, "fair_value": 82.107493, "relative_strength": -8.90189, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -34.460706, "energy": 14.260172, "activity_lines": [ 75.891331, 75.653769, 75.656031, 75.765514 ] }, { "date": "2026-06-26", "close": 75.07, "volume": 2441240, "typical_volume": 10404971.8, "trend": 76.144835, "fair_value": 82.040465, "relative_strength": -7.137719, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -38.364858, "energy": 14.681241, "activity_lines": [ 75.524665, 75.538852, 75.615027, 75.682946 ] }, { "date": "2026-07-03", "close": 75.809998, "volume": 1163787, "typical_volume": 9652034.75, "trend": 75.988525, "fair_value": 82.001908, "relative_strength": -7.332823, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -35.486944, "energy": 15.90224, "activity_lines": [ 75.525332, 75.605882, 75.649427, 75.661344 ] }, { "date": "2026-07-10", "close": 76.230003, "volume": 11373229, "typical_volume": 9665545.55, "trend": 75.89925, "fair_value": 81.967439, "relative_strength": -4.758042, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -13.224677, "energy": 8.747991, "activity_lines": [ 75.631333, 75.749817, 75.712876, 75.676923 ] }, { "date": "2026-07-17", "close": 77.339996, "volume": 9028698, "typical_volume": 9563960.85, "trend": 75.876649, "fair_value": 81.912674, "relative_strength": -3.216512, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 23.84474, "energy": 15.965585, "activity_lines": [ 76.221999, 76.083999, 75.877926, 75.769874 ] }, { "date": "2026-07-24", "close": 76.029999, "volume": 10172491, "typical_volume": 9427540.6, "trend": 75.83469, "fair_value": 81.869888, "relative_strength": -5.00612, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 14.671546, "energy": 16.841279, "activity_lines": [ 76.325999, 76.102908, 75.920631, 75.779768 ] }, { "date": "2026-07-31", "close": 74.169998, "volume": 14544571, "typical_volume": 9624855.75, "trend": 75.708316, "fair_value": 81.820986, "relative_strength": -8.574531, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -17.501815, "energy": 7.328809, "activity_lines": [ 75.683999, 75.745999, 75.768646, 75.672369 ] }, { "date": "2026-08-07", "close": 75.309998, "volume": 9699184, "typical_volume": 9092405.0, "trend": 75.553018, "fair_value": 81.761805, "relative_strength": -9.125605, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -0.876737, "energy": 2.884741, "activity_lines": [ 75.481998, 75.645635, 75.716543, 75.646671 ] } ], "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." } } }