{ "ticker": { "uuid": "4a2982af-6edc-4062-9b88-f93fb7c38015", "symbol": "COPM", "name": "iShares Copper Miners UCITS ETF", "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": 96.0, "architecture_regime": "balance", "architecture_regime_label": "Balance", "architecture_modifier": "Upper balance after advance", "architecture_gate": "up", "architecture_direction": 50.688, "architecture_energy": 22.446, "architecture_maturity": 21.152, "architecture_confidence": 63.196, "architecture_tenure": "Developing", "architecture": { "interpretation": { "headline": "Directional pressure has compressed into balance.", "body": "Trend and Activity are compressed into balance, so neither side has durable control. Prior structure and the next directional change provide context; balance alone is not assumed to be a base." }, "scores": { "balance": 49.5, "rotation_up": 40.91, "upward_expansion": 56.95, "deceleration": 62.57, "rotation_down": 21.53, "downward_expansion": 16.29 }, "activity_lines": [ 9.299667, 9.2094, 9.249052, 9.179168 ], "activity_state": "Compressed", "activity_direction": "Contracting", "rotation_direction": "Improving", "price_acceptance": -0.166667 }, "latest_close": 9.979, "trend_reference": 9.1154, "distance_from_trend": 0.094741, "trend_direction": "Improving", "fair_value": 6.674158, "distance_from_fair_value": 0.49517, "fair_value_direction": "Weakening", "relative_strength": 7.038386, "relative_strength_direction": "Weakening", "price_momentum": 0.114598, "excess_performance": -0.056293, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.094741, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.076004, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.49517, "read": "Premium" }, { "label": "Fair Value direction", "positive": false, "value": -0.002653, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": true, "value": 0.070384, "read": "Leading" }, { "label": "Relative strength direction", "positive": false, "value": -0.121052, "read": "Weakening" }, { "label": "Price momentum", "positive": true, "value": 0.114598, "read": "Positive" }, { "label": "Volume balance", "positive": false, "value": 0.939081, "read": "Supply-led" } ], "volume": { "latest": 132125, "relative_activity": 1.937374, "balance": 0.939081, "dry_up": 1.439734, "accumulation_observations": 4, "distribution_observations": 2 }, "risk": { "range_context": 0.05887, "annualized_volatility": 0.389209, "from_high_reference": -0.021858, "from_low_reference": 0.911686 }, "levels": { "trend_reference": 9.1154, "fair_value_reference": 6.674158, "structural_low": 7.376, "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": 0.126552, "positive_rate": 1.0, "directional_follow_through": 1.0, "median_excess_return": 0.105588, "regime_survival": 1.0, "best_return": 0.126552, "worst_return": 0.126552, "sufficient": false }, { "horizon": "Intermediate", "sample_count": 0, "median_return": null, "positive_rate": null, "directional_follow_through": null, "median_excess_return": null, "regime_survival": null, "best_return": null, "worst_return": null, "sufficient": false }, { "horizon": "Extended", "sample_count": 0, "median_return": null, "positive_rate": null, "directional_follow_through": null, "median_excess_return": null, "regime_survival": null, "best_return": null, "worst_return": null, "sufficient": false }, { "horizon": "Full cycle", "sample_count": 0, "median_return": null, "positive_rate": null, "directional_follow_through": null, "median_excess_return": null, "regime_survival": null, "best_return": null, "worst_return": null, "sufficient": false } ], "ledger": [ { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-04-24", "end": "2026-07-03", "tenure": "Developing", "return": -0.001202, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-07-10", "end": "2026-08-07", "tenure": "Developing", "return": 0.126552, "active": true } ], "chart_path": [ { "date": "2024-10-18", "close": 5.556, "volume": 15745, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-10-25", "close": 5.531, "volume": 16481, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-01", "close": 5.344, "volume": 7430, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-08", "close": 5.339, "volume": 33204, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-15", "close": 5.144, "volume": 32955, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-22", "close": 5.314, "volume": 10972, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-29", "close": 5.27, "volume": 1955, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-12-06", "close": 5.312, "volume": 967, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-12-13", "close": 5.137, "volume": 2911, "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": 4.878, "volume": 5554, "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": 4.878, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-03", "close": 5.008, "volume": 3000, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-10", "close": 5.062, "volume": 82436, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-17", "close": 5.174, "volume": 12973, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-24", "close": 5.023, "volume": 12293, "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": 4.965, "volume": 8269, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-02-07", "close": 5.165, "volume": 13399, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-02-14", "close": 5.208, "volume": 5363, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-02-21", "close": 5.132, "volume": 7089, "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": 4.938, "volume": 6500, "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": 4.9135, "volume": 7531, "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": 4.953, "volume": 32326, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-03-21", "close": 5.018, "volume": 5356, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-03-28", "close": 5.01, "volume": 7969, "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": 4.03, "volume": 77461, "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": 4.172, "volume": 4536, "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": 4.3785, "volume": 4728, "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": 4.6605, "volume": 8082, "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": 4.619, "volume": 18134, "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": 4.7255, "volume": 39036, "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": 4.82, "volume": 1179, "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": 4.862, "volume": 8061, "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": 4.902, "volume": 2125, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-06-06", "close": 5.104, "volume": 4368, "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": 4.968, "volume": 433, "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": 4.852, "volume": 2075, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-06-27", "close": 5.038, "volume": 1519, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-07-04", "close": 5.036, "volume": 85, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-07-11", "close": 5.156, "volume": 7798, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-07-18", "close": 5.076, "volume": 3652, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-07-25", "close": 5.215, "volume": 69659, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-01", "close": 5.031, "volume": 4234, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-08", "close": 5.129, "volume": 4552, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-15", "close": 5.36, "volume": 4332, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-22", "close": 5.366, "volume": 8627, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-29", "close": 5.478, "volume": 5606, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-09-05", "close": 5.573, "volume": 21867, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-09-12", "close": 5.802, "volume": 27026, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-09-19", "close": 5.795, "volume": 20637, "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": 6.138, "volume": 48402, "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": 6.562, "volume": 41777, "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": 6.607, "volume": 38252, "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": 6.528, "volume": 359262, "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": 6.555, "volume": 35854, "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": 6.724, "volume": 14253, "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": 6.553, "volume": 11091, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-11-14", "close": 6.706, "volume": 13872, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-11-21", "close": 6.375, "volume": 111103, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-11-28", "close": 6.995, "volume": 60749, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-12-05", "close": 7.37, "volume": 29930, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-12-12", "close": 7.32, "volume": 177765, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-12-19", "close": 7.623, "volume": 142470, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-12-26", "close": 7.857, "volume": 50163, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-01-02", "close": 7.835, "volume": 68128, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-01-09", "close": 8.414, "volume": 165326, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-01-16", "close": 8.729, "volume": 358994, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-01-23", "close": 9.056, "volume": 217233, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-01-30", "close": 9.07, "volume": 475150, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-02-06", "close": 8.953, "volume": 212287, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-02-13", "close": 9.305, "volume": 117276, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-02-20", "close": 9.327, "volume": 451118, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-02-27", "close": 9.99, "volume": 141551, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-03-06", "close": 9.06, "volume": 333368, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-03-13", "close": 8.468, "volume": 213601, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-03-20", "close": 7.725, "volume": 101785, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-03-27", "close": 8.135, "volume": 86569, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-04-03", "close": 8.698, "volume": 29859, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-04-10", "close": 9.289, "volume": 76041, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-04-17", "close": 9.553, "volume": 135975, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-04-24", "close": 9.154, "volume": 48718, "typical_volume": 180168.85, "trend": 8.017867, "fair_value": 6.188687, "relative_strength": 22.261152, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 50.660148, "energy": 41.26473, "activity_lines": [ 9.158667, 8.918345, 8.88571, 8.547794 ] }, { "date": "2026-05-01", "close": 8.775, "volume": 28173, "typical_volume": 172689.25, "trend": 8.091633, "fair_value": 6.220617, "relative_strength": 14.90288, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 41.803034, "energy": 39.047252, "activity_lines": [ 9.095067, 8.888364, 8.894943, 8.596641 ] }, { "date": "2026-05-08", "close": 9.375, "volume": 119796, "typical_volume": 171555.55, "trend": 8.1839, "fair_value": 6.259085, "relative_strength": 19.143609, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 59.554243, "energy": 47.470997, "activity_lines": [ 9.1888, 8.977509, 8.95439, 8.679439 ] }, { "date": "2026-05-15", "close": 9.277, "volume": 164057, "typical_volume": 177250.25, "trend": 8.275533, "fair_value": 6.295446, "relative_strength": 17.321946, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 53.551003, "energy": 32.319552, "activity_lines": [ 9.204733, 9.060018, 8.996162, 8.749961 ] }, { "date": "2026-05-22", "close": 9.317, "volume": 88640, "typical_volume": 178275.85, "trend": 8.3676, "fair_value": 6.331417, "relative_strength": 15.98702, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 53.61891, "energy": 31.043486, "activity_lines": [ 9.2348, 9.145855, 9.034981, 8.817153 ] }, { "date": "2026-05-29", "close": 9.842, "volume": 75078, "typical_volume": 173763.45, "trend": 8.471533, "fair_value": 6.372718, "relative_strength": 20.174807, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 67.766391, "energy": 47.233059, "activity_lines": [ 9.4556, 9.311709, 9.116743, 8.912275 ] }, { "date": "2026-06-05", "close": 9.389, "volume": 39031, "typical_volume": 157765.3, "trend": 8.566067, "fair_value": 6.407791, "relative_strength": 14.136563, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 55.442133, "energy": 40.559238, "activity_lines": [ 9.479533, 9.356709, 9.148562, 8.971467 ] }, { "date": "2026-06-12", "close": 9.713, "volume": 24038, "typical_volume": 148105.55, "trend": 8.6663, "fair_value": 6.445782, "relative_strength": 13.567665, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 63.352581, "energy": 50.965413, "activity_lines": [ 9.570533, 9.437818, 9.208095, 9.045462 ] }, { "date": "2026-06-19", "close": 9.565, "volume": 18210, "typical_volume": 125258.55, "trend": 8.772633, "fair_value": 6.481227, "relative_strength": 8.257744, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 57.198751, "energy": 51.747515, "activity_lines": [ 9.589667, 9.473564, 9.250405, 9.103443 ] }, { "date": "2026-06-26", "close": 8.973, "volume": 1965, "typical_volume": 114742.45, "trend": 8.838567, "fair_value": 6.509225, "relative_strength": 4.117335, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 32.309448, "energy": 20.419467, "activity_lines": [ 9.392267, 9.396655, 9.233976, 9.11637 ] }, { "date": "2026-07-03", "close": 9.143, "volume": 2325, "typical_volume": 108994.9, "trend": 8.897667, "fair_value": 6.538489, "relative_strength": 2.429627, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 33.17121, "energy": 16.168866, "activity_lines": [ 9.274467, 9.3612, 9.233643, 9.136011 ] }, { "date": "2026-07-10", "close": 8.858, "volume": 32737, "typical_volume": 88075.85, "trend": 8.948933, "fair_value": 6.563978, "relative_strength": -0.824734, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 11.720455, "energy": 14.452081, "activity_lines": [ 9.108267, 9.274127, 9.206938, 9.133452 ] }, { "date": "2026-07-17", "close": 8.55, "volume": 50907, "typical_volume": 83543.65, "trend": 8.979833, "fair_value": 6.585565, "relative_strength": -3.348225, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -27.142338, "energy": 28.232768, "activity_lines": [ 8.8748, 9.129545, 9.153133, 9.107714 ] }, { "date": "2026-07-24", "close": 9.134, "volume": 84032, "typical_volume": 71076.85, "trend": 9.0224, "fair_value": 6.612968, "relative_strength": 2.852942, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -13.05262, "energy": 18.907834, "activity_lines": [ 8.913533, 9.106145, 9.161805, 9.11766 ] }, { "date": "2026-07-31", "close": 9.06, "volume": 125684, "typical_volume": 66681.0, "trend": 9.063233, "fair_value": 6.639, "relative_strength": 0.755109, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -12.35986, "energy": 16.623163, "activity_lines": [ 8.956333, 9.071891, 9.163076, 9.120086 ] }, { "date": "2026-08-07", "close": 9.979, "volume": 132125, "typical_volume": 68198.0, "trend": 9.1154, "fair_value": 6.674158, "relative_strength": 7.038386, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 50.687979, "energy": 22.445807, "activity_lines": [ 9.299667, 9.2094, 9.249052, 9.179168 ] } ], "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." } } }