{ "ticker": { "uuid": "44e2cf3d-8d60-42ea-8571-b274e0fa1d31", "symbol": "XAGZ", "name": "L&G Multi-Strategy Enhanced Commodities ex-Agriculture & Livestock UCITS ETF USD Accumulating", "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": 52.075, "architecture_regime": "rotation_down", "architecture_regime_label": "Rotation Down", "architecture_modifier": "Supply rotation", "architecture_gate": "mixed", "architecture_direction": -7.429, "architecture_energy": 18.76, "architecture_maturity": 67.052, "architecture_confidence": 62.781, "architecture_tenure": "Developing", "architecture": { "interpretation": { "headline": "The Activity Line structure is rotating downward.", "body": "Fast Activity is weakening relative to Slow Activity and price acceptance is deteriorating. Persistent negative Trend confirmation would establish Downward Expansion." }, "scores": { "balance": 57.89, "rotation_up": 44.86, "upward_expansion": 27.77, "deceleration": 50.16, "rotation_down": 24.61, "downward_expansion": 32.43 }, "activity_lines": [ 12.1976, 12.068691, 12.286857, 12.290323 ], "activity_state": "Compressed", "activity_direction": "Contracting", "rotation_direction": "Improving", "price_acceptance": -0.333333 }, "latest_close": 12.278, "trend_reference": 12.099, "distance_from_trend": 0.014795, "trend_direction": "Improving", "fair_value": 10.070939, "distance_from_fair_value": 0.219151, "fair_value_direction": "Weakening", "relative_strength": -4.746454, "relative_strength_direction": "Weakening", "price_momentum": 0.125596, "excess_performance": -0.045296, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.014795, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.060695, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.219151, "read": "Premium" }, { "label": "Fair Value direction", "positive": false, "value": -0.08967, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.047465, "read": "Lagging" }, { "label": "Relative strength direction", "positive": false, "value": -0.142692, "read": "Weakening" }, { "label": "Price momentum", "positive": true, "value": 0.125596, "read": "Positive" }, { "label": "Volume balance", "positive": false, "value": 0.960744, "read": "Supply-led" } ], "volume": { "latest": 200, "relative_activity": 0.125356, "balance": 0.960744, "dry_up": 0.135072, "accumulation_observations": 1, "distribution_observations": 1 }, "risk": { "range_context": 0.022216, "annualized_volatility": 0.209166, "from_high_reference": -0.072939, "from_low_reference": 0.386092 }, "levels": { "trend_reference": 12.099, "fair_value_reference": 10.070939, "structural_low": 10.908, "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": 0.078034, "positive_rate": 1.0, "directional_follow_through": 0.0, "median_excess_return": 0.067559, "regime_survival": 1.0, "best_return": 0.078034, "worst_return": 0.078034, "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": "2025-11-07", "end": "2025-11-21", "tenure": "New", "return": 0.03469, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2025-11-28", "end": "2025-12-19", "tenure": "New", "return": 0.012602, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-12-26", "end": "2026-06-12", "tenure": "Established", "return": 0.229988, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2026-06-19", "end": "2026-06-19", "tenure": "New", "return": 0.0, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2026-06-26", "end": "2026-08-07", "tenure": "Developing", "return": 0.055174, "active": true } ], "chart_path": [ { "date": "2024-05-03", "close": 9.412, "volume": 221, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-05-10", "close": 9.276, "volume": 1925, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-05-17", "close": 9.276, "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": "2024-05-24", "close": 9.404, "volume": 2999, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-05-31", "close": 9.386, "volume": 2531, "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": "2024-06-07", "close": 9.386, "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": "2024-06-14", "close": 9.386, "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": "2024-06-21", "close": 9.386, "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": "2024-06-28", "close": 9.386, "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": "2024-07-05", "close": 9.386, "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": "2024-07-12", "close": 9.386, "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": 9.386, "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": 9.386, "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": 9.386, "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": 8.671, "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": "2024-08-16", "close": 8.671, "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": 8.671, "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": "2024-08-30", "close": 8.671, "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": "2024-09-06", "close": 8.671, "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": "2024-09-13", "close": 8.671, "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": "2024-09-20", "close": 8.671, "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": "2024-09-27", "close": 8.671, "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": "2024-10-04", "close": 8.671, "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": "2024-10-11", "close": 8.671, "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": 8.671, "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": 9.28, "volume": 13563, "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": 9.17, "volume": 550, "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": 9.213, "volume": 269, "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": 9.213, "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": "2024-11-22", "close": 9.204, "volume": 6, "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": 9.204, "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": 9.204, "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": "2024-12-13", "close": 9.397, "volume": 167, "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": 9.397, "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": 9.397, "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": 9.397, "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": 9.662, "volume": 75, "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": 9.662, "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": "2025-01-24", "close": 9.867, "volume": 3, "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": 9.867, "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": "2025-02-07", "close": 9.867, "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": "2025-02-14", "close": 9.867, "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": 10.1, "volume": 11, "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": 9.893, "volume": 10, "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": 9.905, "volume": 51, "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": 9.905, "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": "2025-03-21", "close": 9.905, "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": 9.905, "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": 9.905, "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": "2025-04-11", "close": 8.827, "volume": 704, "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": 8.9, "volume": 92, "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": 8.921, "volume": 10800, "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": 8.896, "volume": 465, "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": 9.149, "volume": 174, "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": 9.256, "volume": 567, "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": 9.043, "volume": 195, "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": 9.074, "volume": 248, "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": 9.074, "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": 9.241, "volume": 30, "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": 9.241, "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": 9.176, "volume": 222, "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": 9.176, "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": "2025-07-11", "close": 9.176, "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": "2025-07-18", "close": 9.382, "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": "2025-07-25", "close": 9.382, "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": "2025-08-01", "close": 9.281, "volume": 401, "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": 9.281, "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": "2025-08-15", "close": 8.895, "volume": 271, "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": 8.942, "volume": 680, "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": 8.942, "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": "2025-09-05", "close": 9.252, "volume": 104, "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": 9.252, "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": "2025-09-19", "close": 9.205, "volume": 79, "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": 9.408, "volume": 56, "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": 9.483, "volume": 688, "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": 9.696, "volume": 222, "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": 9.646, "volume": 625, "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": 11.4778, "volume": 74, "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": 9.628, "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": "2025-11-07", "close": 9.628, "volume": 0, "typical_volume": 172.1, "trend": 9.30346, "fair_value": 9.311573, "relative_strength": -8.291215, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 63.55601, "energy": 55.487141, "activity_lines": [ 10.004893, 9.834007, 9.565873, 9.449837 ] }, { "date": "2025-11-14", "close": 9.962, "volume": 3352, "typical_volume": 328.6, "trend": 9.33886, "fair_value": 9.319602, "relative_strength": -7.118623, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 61.554443, "energy": 52.746273, "activity_lines": [ 9.987173, 9.887538, 9.617927, 9.492324 ] }, { "date": "2025-11-21", "close": 9.962, "volume": 0, "typical_volume": 328.6, "trend": 9.37356, "fair_value": 9.327437, "relative_strength": -3.903591, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 53.142507, "energy": 30.438177, "activity_lines": [ 9.95172, 9.92816, 9.666237, 9.532526 ] }, { "date": "2025-11-28", "close": 9.919, "volume": 1258, "typical_volume": 391.5, "trend": 9.40766, "fair_value": 9.334564, "relative_strength": -5.503106, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 41.456906, "energy": 26.525011, "activity_lines": [ 9.880867, 9.948055, 9.70671, 9.567716 ] }, { "date": "2025-12-05", "close": 9.919, "volume": 0, "typical_volume": 390.5, "trend": 9.433327, "fair_value": 9.341521, "relative_strength": -5.394251, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 41.942219, "energy": 30.329066, "activity_lines": [ 9.913933, 9.954967, 9.743644, 9.600706 ] }, { "date": "2025-12-12", "close": 10.044, "volume": 600, "typical_volume": 420.5, "trend": 9.459593, "fair_value": 9.349786, "relative_strength": -4.086035, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 47.536441, "energy": 31.993569, "activity_lines": [ 9.969267, 9.975316, 9.789926, 9.640104 ] }, { "date": "2025-12-19", "close": 10.044, "volume": 0, "typical_volume": 400.45, "trend": 9.49296, "fair_value": 9.357858, "relative_strength": -6.348558, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 56.302379, "energy": 35.274437, "activity_lines": [ 9.996867, 9.985465, 9.833055, 9.677808 ] }, { "date": "2025-12-26", "close": 10.044, "volume": 0, "typical_volume": 400.45, "trend": 9.525293, "fair_value": 9.365745, "relative_strength": -5.653602, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 56.67067, "energy": 37.096993, "activity_lines": [ 10.019, 9.989287, 9.872551, 9.713359 ] }, { "date": "2026-01-02", "close": 10.118, "volume": 510, "typical_volume": 412.4, "trend": 9.560093, "fair_value": 9.374293, "relative_strength": -6.169235, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 58.570695, "energy": 38.220733, "activity_lines": [ 10.060333, 9.999327, 9.915462, 9.751598 ] }, { "date": "2026-01-09", "close": 10.534, "volume": 90, "typical_volume": 382.9, "trend": 9.603193, "fair_value": 9.387324, "relative_strength": -2.694699, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 76.756862, "energy": 58.939783, "activity_lines": [ 10.227067, 10.109727, 9.992168, 9.814431 ] }, { "date": "2026-01-16", "close": 10.534, "volume": 0, "typical_volume": 382.9, "trend": 9.646293, "fair_value": 9.400064, "relative_strength": -2.578745, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 74.402709, "energy": 68.879682, "activity_lines": [ 10.3528, 10.203655, 10.061292, 9.874483 ] }, { "date": "2026-01-23", "close": 10.534, "volume": 0, "typical_volume": 377.7, "trend": 9.69156, "fair_value": 9.412525, "relative_strength": -0.169535, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 77.143812, "energy": 89.061409, "activity_lines": [ 10.445867, 10.281109, 10.122836, 9.931754 ] }, { "date": "2026-01-30", "close": 11.436, "volume": 111, "typical_volume": 383.25, "trend": 9.766893, "fair_value": 9.43452, "relative_strength": 6.893178, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 99.867561, "energy": 99.915595, "activity_lines": [ 10.806933, 10.512164, 10.26418, 10.044298 ] }, { "date": "2026-02-06", "close": 10.908, "volume": 5841, "typical_volume": 671.35, "trend": 9.824627, "fair_value": 9.450363, "relative_strength": 1.416663, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 70.892049, "energy": 89.589648, "activity_lines": [ 10.8992, 10.620418, 10.344838, 10.117918 ] }, { "date": "2026-02-13", "close": 10.908, "volume": 0, "typical_volume": 668.55, "trend": 9.875493, "fair_value": 9.46587, "relative_strength": 2.578105, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 68.600516, "energy": 88.898349, "activity_lines": [ 10.9388, 10.710691, 10.417387, 10.187813 ] }, { "date": "2026-02-20", "close": 11.174, "volume": 100, "typical_volume": 639.15, "trend": 9.935227, "fair_value": 9.483851, "relative_strength": 2.913204, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 83.517405, "energy": 94.062337, "activity_lines": [ 11.042133, 10.831345, 10.508126, 10.271588 ] }, { "date": "2026-02-27", "close": 11.442, "volume": 1686, "typical_volume": 712.35, "trend": 10.00726, "fair_value": 9.504248, "relative_strength": 3.852351, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 90.832378, "energy": 76.216243, "activity_lines": [ 11.192133, 10.980182, 10.616336, 10.368799 ] }, { "date": "2026-03-06", "close": 11.912, "volume": 142, "typical_volume": 688.2, "trend": 10.09496, "fair_value": 9.52907, "relative_strength": 15.481552, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 95.461446, "energy": 77.847259, "activity_lines": [ 11.438267, 11.189055, 10.760994, 10.491686 ] }, { "date": "2026-03-13", "close": 12.976, "volume": 108, "typical_volume": 689.9, "trend": 10.230993, "fair_value": 9.564243, "relative_strength": 24.95218, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 98.043551, "energy": 79.111713, "activity_lines": [ 12.007333, 11.557418, 10.996195, 10.677559 ] }, { "date": "2026-03-20", "close": 12.61, "volume": 3756, "typical_volume": 877.7, "trend": 10.35326, "fair_value": 9.595008, "relative_strength": 25.194158, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 85.985155, "energy": 82.922133, "activity_lines": [ 12.316533, 11.807273, 11.189405, 10.831043 ] }, { "date": "2026-03-27", "close": 12.468, "volume": 4, "typical_volume": 877.9, "trend": 10.470793, "fair_value": 9.623738, "relative_strength": 21.932642, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 70.08872, "energy": 69.361167, "activity_lines": [ 12.464933, 11.993564, 11.35489, 10.967478 ] }, { "date": "2026-04-03", "close": 12.484, "volume": 2105, "typical_volume": 815.55, "trend": 10.578527, "fair_value": 9.652057, "relative_strength": 16.195063, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 68.489886, "energy": 68.677394, "activity_lines": [ 12.5324, 12.1476, 11.508376, 11.097363 ] }, { "date": "2026-04-10", "close": 12.674, "volume": 10823, "typical_volume": 1356.7, "trend": 10.692593, "fair_value": 9.681684, "relative_strength": 12.984824, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 73.172006, "energy": 69.708715, "activity_lines": [ 12.593733, 12.300727, 11.667948, 11.232554 ] }, { "date": "2026-04-17", "close": 12.51, "volume": 3302, "typical_volume": 1458.9, "trend": 10.80276, "fair_value": 9.709144, "relative_strength": 8.570915, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 65.989318, "energy": 65.490198, "activity_lines": [ 12.5496, 12.401527, 11.798986, 11.349806 ] }, { "date": "2026-04-24", "close": 12.724, "volume": 2115, "typical_volume": 1564.65, "trend": 10.913293, "fair_value": 9.738133, "relative_strength": 12.979657, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 71.91916, "energy": 66.404256, "activity_lines": [ 12.607867, 12.512109, 11.938067, 11.473757 ] }, { "date": "2026-05-01", "close": 12.852, "volume": 3939, "typical_volume": 1731.6, "trend": 11.025593, "fair_value": 9.767789, "relative_strength": 12.407086, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 75.318986, "energy": 68.425467, "activity_lines": [ 12.7012, 12.612945, 12.075981, 11.598835 ] }, { "date": "2026-05-08", "close": 12.822, "volume": 1929, "typical_volume": 1828.05, "trend": 11.129793, "fair_value": 9.796602, "relative_strength": 9.522766, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 69.801632, "energy": 66.02673, "activity_lines": [ 12.758933, 12.677818, 12.197667, 11.714732 ] }, { "date": "2026-05-15", "close": 13.216, "volume": 3010, "typical_volume": 1978.55, "trend": 11.248793, "fair_value": 9.828559, "relative_strength": 12.909577, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 83.305432, "energy": 71.327749, "activity_lines": [ 12.925467, 12.789236, 12.343648, 11.849326 ] }, { "date": "2026-05-22", "close": 13.11, "volume": 43, "typical_volume": 1955.2, "trend": 11.3032, "fair_value": 9.858943, "relative_strength": 10.791164, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 72.789258, "energy": 71.553567, "activity_lines": [ 13.020533, 12.857673, 12.464429, 11.969404 ] }, { "date": "2026-05-29", "close": 12.732, "volume": 21, "typical_volume": 1951.75, "trend": 11.406667, "fair_value": 9.885301, "relative_strength": 6.225518, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 65.563564, "energy": 62.1559, "activity_lines": [ 12.9496, 12.854945, 12.534962, 12.061585 ] }, { "date": "2026-06-05", "close": 12.742, "volume": 21, "typical_volume": 1952.8, "trend": 11.510467, "fair_value": 9.911271, "relative_strength": 6.34343, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 63.575244, "energy": 59.250469, "activity_lines": [ 12.881467, 12.851818, 12.595981, 12.147735 ] }, { "date": "2026-06-12", "close": 12.354, "volume": 5, "typical_volume": 1953.05, "trend": 11.5902, "fair_value": 9.933277, "relative_strength": -0.150908, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 47.682174, "energy": 42.353073, "activity_lines": [ 12.691333, 12.773164, 12.609533, 12.202157 ] }, { "date": "2026-06-19", "close": 12.12, "volume": 3304, "typical_volume": 2112.7, "trend": 11.662133, "fair_value": 9.952802, "relative_strength": -4.50061, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 22.185104, "energy": 29.910322, "activity_lines": [ 12.4544, 12.654327, 12.592133, 12.236338 ] }, { "date": "2026-06-26", "close": 11.636, "volume": 0, "typical_volume": 1820.65, "trend": 11.719367, "fair_value": 9.967697, "relative_strength": -5.451733, "stage": 2, "regime": "rotation_down", "modifier": "Structural failure", "gate": "up", "direction": -24.10494, "energy": 40.060929, "activity_lines": [ 12.1292, 12.457564, 12.525381, 12.234652 ] }, { "date": "2026-07-03", "close": 11.682, "volume": 426, "typical_volume": 1841.95, "trend": 11.778133, "fair_value": 9.982735, "relative_strength": -7.793732, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "up", "direction": -27.125871, "energy": 50.818314, "activity_lines": [ 11.9176, 12.285055, 12.459543, 12.232241 ] }, { "date": "2026-07-10", "close": 11.682, "volume": 0, "typical_volume": 1836.95, "trend": 11.832733, "fair_value": 9.997511, "relative_strength": -7.383075, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -38.971944, "energy": 74.052253, "activity_lines": [ 11.776, 12.131491, 12.390019, 12.226039 ] }, { "date": "2026-07-17", "close": 11.682, "volume": 0, "typical_volume": 1752.65, "trend": 11.887333, "fair_value": 10.012033, "relative_strength": -6.019279, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -34.510709, "energy": 76.251743, "activity_lines": [ 11.705067, 11.9992, 12.318076, 12.216314 ] }, { "date": "2026-07-24", "close": 12.544, "volume": 112, "typical_volume": 1751.15, "trend": 11.970667, "fair_value": 10.033674, "relative_strength": 0.975778, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -8.908284, "energy": 31.078168, "activity_lines": [ 11.966267, 12.044364, 12.327086, 12.25868 ] }, { "date": "2026-07-31", "close": 12.224, "volume": 550, "typical_volume": 1773.25, "trend": 12.040867, "fair_value": 10.052236, "relative_strength": -2.315059, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "up", "direction": 10.262987, "energy": 16.023534, "activity_lines": [ 12.092533, 12.043564, 12.30261, 12.275024 ] }, { "date": "2026-08-07", "close": 12.278, "volume": 200, "typical_volume": 1595.45, "trend": 12.099, "fair_value": 10.070939, "relative_strength": -4.746454, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -7.429034, "energy": 18.760368, "activity_lines": [ 12.1976, 12.068691, 12.286857, 12.290323 ] } ], "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." } } }