{ "ticker": { "uuid": "50a5f9b3-dd5f-45ff-a1a7-8a682772be46", "symbol": "01001T", "name": "Fubon No.1 Real Estate Investment Trust", "exchange": "TAI", "country": "TW", "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": "^TWII", "stage": 1, "stage_name": "Basing", "phase": "1b", "phase_label": "Stage 1B \u00b7 Basing", "transition": "stage_1_building", "transition_label": "Base still building", "confidence": 57.672, "architecture_regime": "rotation_down", "architecture_regime_label": "Rotation Down", "architecture_modifier": "Supply rotation", "architecture_gate": "mixed", "architecture_direction": -45.159, "architecture_energy": 73.574, "architecture_maturity": 5.046, "architecture_confidence": 76.572, "architecture_tenure": "New", "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": 24.97, "rotation_up": 16.06, "upward_expansion": 24.96, "deceleration": 43.01, "rotation_down": 76.39, "downward_expansion": 66.63 }, "activity_lines": [ 11.37, 11.443455, 11.508508, 11.514777 ], "activity_state": "Moderate", "activity_direction": "Expanding", "rotation_direction": "Weakening", "price_acceptance": -0.833333 }, "latest_close": 11.35, "trend_reference": 11.50044, "distance_from_trend": -0.013081, "trend_direction": "Improving", "fair_value": 12.496826, "distance_from_fair_value": -0.091769, "fair_value_direction": "Weakening", "relative_strength": -29.254185, "relative_strength_direction": "Improving", "price_momentum": -0.00609, "excess_performance": -0.385402, "evidence": [ { "label": "Price vs Trend", "positive": false, "value": -0.013081, "read": "Below" }, { "label": "Trend direction", "positive": true, "value": 0.001442, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": false, "value": -0.091769, "read": "Below anchor" }, { "label": "Fair Value direction", "positive": false, "value": -0.016037, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.292542, "read": "Lagging" }, { "label": "Relative strength direction", "positive": true, "value": 0.060418, "read": "Improving" }, { "label": "Price momentum", "positive": false, "value": -0.00609, "read": "Negative" }, { "label": "Volume balance", "positive": false, "value": 0.131753, "read": "Supply-led" } ], "volume": { "latest": 166000, "relative_activity": 0.527224, "balance": 0.131753, "dry_up": 1.746031, "accumulation_observations": 0, "distribution_observations": 4 }, "risk": { "range_context": 0.007726, "annualized_volatility": 0.035774, "from_high_reference": -0.068308, "from_low_reference": 0.032305 }, "levels": { "trend_reference": 11.50044, "fair_value_reference": 12.496826, "structural_low": 11.197524, "invalidation": "A renewed decline below the structural range low, widening the discount to current Fair Value while Trend falls, weakens the base diagnosis." }, "outcomes": [ { "horizon": "Near term", "sample_count": 2, "median_return": -0.026236, "positive_rate": 0.0, "directional_follow_through": 1.0, "median_excess_return": 0.039628, "regime_survival": 0.0, "best_return": -0.007885, "worst_return": -0.044586, "sufficient": false }, { "horizon": "Intermediate", "sample_count": 2, "median_return": -0.010064, "positive_rate": 0.0, "directional_follow_through": 1.0, "median_excess_return": 0.018924, "regime_survival": 0.0, "best_return": -0.005791, "worst_return": -0.014337, "sufficient": false }, { "horizon": "Extended", "sample_count": 2, "median_return": -0.04559, "positive_rate": 0.0, "directional_follow_through": 1.0, "median_excess_return": -0.029593, "regime_survival": 0.0, "best_return": -0.044586, "worst_return": -0.046595, "sufficient": false }, { "horizon": "Full cycle", "sample_count": 2, "median_return": -0.093395, "positive_rate": 0.0, "directional_follow_through": 1.0, "median_excess_return": -0.133208, "regime_survival": 0.0, "best_return": -0.075535, "worst_return": -0.111254, "sufficient": false } ], "ledger": [ { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2024-02-02", "end": "2024-03-15", "tenure": "Developing", "return": -0.005405, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2024-03-22", "end": "2024-03-29", "tenure": "New", "return": -0.006102, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2024-04-05", "end": "2024-05-10", "tenure": "Developing", "return": 0.020786, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2024-05-17", "end": "2024-06-28", "tenure": "Developing", "return": -0.013049, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2024-07-05", "end": "2024-07-19", "tenure": "New", "return": -0.020979, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2024-07-26", "end": "2024-08-02", "tenure": "New", "return": 0.003584, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2024-08-09", "end": "2025-10-17", "tenure": "Extended", "return": -0.072952, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-10-24", "end": "2025-11-14", "tenure": "New", "return": -0.011245, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-11-21", "end": "2026-03-06", "tenure": "Established", "return": 0.010187, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-03-13", "end": "2026-05-01", "tenure": "Developing", "return": 0.004184, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2026-05-08", "end": "2026-05-29", "tenure": "New", "return": -0.009394, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-06-05", "end": "2026-07-10", "tenure": "Developing", "return": -0.012027, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-07-17", "end": "2026-07-24", "tenure": "New", "return": -0.004382, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2026-07-31", "end": "2026-08-07", "tenure": "New", "return": 0.0, "active": true } ], "chart_path": [ { "date": "2023-08-04", "close": 13.391165, "volume": 46000, "typical_volume": 400866.25, "trend": 13.764364, "fair_value": 14.966624, "relative_strength": -15.176874, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -74.438325, "energy": 87.394423, "activity_lines": [ 13.422095, 13.461627, 13.57057, 13.653378 ] }, { "date": "2023-08-11", "close": 13.354776, "volume": 25000, "typical_volume": 398716.25, "trend": 13.744617, "fair_value": 14.960877, "relative_strength": -13.843954, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -80.723514, "energy": 91.382406, "activity_lines": [ 13.394197, 13.435162, 13.540858, 13.626953 ] }, { "date": "2023-08-18", "close": 13.245609, "volume": 59000, "typical_volume": 399366.25, "trend": 13.716506, "fair_value": 14.954322, "relative_strength": -13.098175, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -91.114193, "energy": 95.535601, "activity_lines": [ 13.338401, 13.394142, 13.50298, 13.594759 ] }, { "date": "2023-08-25", "close": 13.236511, "volume": 227078, "typical_volume": 409670.15, "trend": 13.688091, "fair_value": 14.946788, "relative_strength": -13.386179, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -85.100174, "energy": 93.63743, "activity_lines": [ 13.294127, 13.357918, 13.467027, 13.563792 ] }, { "date": "2023-09-01", "close": 13.327484, "volume": 62020, "typical_volume": 408676.6, "trend": 13.662708, "fair_value": 14.939024, "relative_strength": -13.32525, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -67.493433, "energy": 76.357033, "activity_lines": [ 13.294734, 13.34419, 13.442531, 13.540527 ] }, { "date": "2023-09-08", "close": 13.463943, "volume": 123000, "typical_volume": 409676.6, "trend": 13.645419, "fair_value": 14.931865, "relative_strength": -11.660629, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -63.40643, "energy": 56.864303, "activity_lines": [ 13.345679, 13.357422, 13.434658, 13.527703 ] }, { "date": "2023-09-15", "close": 13.463943, "volume": 79000, "typical_volume": 409176.5, "trend": 13.629902, "fair_value": 14.924489, "relative_strength": -13.029734, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -46.235172, "energy": 36.548644, "activity_lines": [ 13.391771, 13.372309, 13.428074, 13.515995 ] }, { "date": "2023-09-22", "close": 13.463943, "volume": 756000, "typical_volume": 443376.5, "trend": 13.616157, "fair_value": 14.916518, "relative_strength": -9.561912, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -35.487759, "energy": 25.916934, "activity_lines": [ 13.430586, 13.387526, 13.423742, 13.505288 ] }, { "date": "2023-09-29", "close": 13.645888, "volume": 5000, "typical_volume": 440971.5, "trend": 13.608772, "fair_value": 14.906734, "relative_strength": -7.93971, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": 0.489561, "energy": 19.970131, "activity_lines": [ 13.515494, 13.435824, 13.439337, 13.507206 ] }, { "date": "2023-10-06", "close": 13.400262, "volume": 256000, "typical_volume": 452021.5, "trend": 13.591427, "fair_value": 14.892993, "relative_strength": -9.940743, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -18.664022, "energy": 19.652104, "activity_lines": [ 13.491235, 13.43599, 13.431886, 13.493754 ] }, { "date": "2023-10-13", "close": 13.345679, "volume": 197015, "typical_volume": 457722.0, "trend": 13.576103, "fair_value": 14.879119, "relative_strength": -11.122037, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -30.731643, "energy": 16.970524, "activity_lines": [ 13.443929, 13.426231, 13.420536, 13.477899 ] }, { "date": "2023-10-20", "close": 13.281999, "volume": 240146, "typical_volume": 468228.05, "trend": 13.558065, "fair_value": 14.864837, "relative_strength": -9.04972, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -50.239059, "energy": 26.277831, "activity_lines": [ 13.383281, 13.405721, 13.404768, 13.458925 ] }, { "date": "2023-10-27", "close": 13.372971, "volume": 151000, "typical_volume": 156327.2, "trend": 13.542764, "fair_value": 14.851138, "relative_strength": -5.984659, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -39.90216, "energy": 30.850102, "activity_lines": [ 13.365087, 13.403074, 13.399396, 13.446983 ] }, { "date": "2023-11-03", "close": 13.281999, "volume": 223000, "typical_volume": 164827.2, "trend": 13.524727, "fair_value": 14.836855, "relative_strength": -7.987812, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -58.226127, "energy": 48.704324, "activity_lines": [ 13.322633, 13.381572, 13.386443, 13.43016 ] }, { "date": "2023-11-10", "close": 13.272902, "volume": 60000, "typical_volume": 162364.05, "trend": 13.497525, "fair_value": 14.822406, "relative_strength": -8.338998, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -59.727298, "energy": 51.905404, "activity_lines": [ 13.301406, 13.357588, 13.373967, 13.413913 ] }, { "date": "2023-11-17", "close": 13.191025, "volume": 373025, "typical_volume": 179614.2, "trend": 13.479408, "fair_value": 14.807432, "relative_strength": -11.131963, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -67.330635, "energy": 56.602479, "activity_lines": [ 13.261378, 13.319711, 13.354516, 13.394139 ] }, { "date": "2023-11-24", "close": 13.045469, "volume": 530025, "typical_volume": 191465.45, "trend": 13.449691, "fair_value": 14.791471, "relative_strength": -12.008494, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -78.757951, "energy": 71.52145, "activity_lines": [ 13.183141, 13.26033, 13.322936, 13.366143 ] }, { "date": "2023-12-01", "close": 13.045469, "volume": 319020, "typical_volume": 203216.45, "trend": 13.417547, "fair_value": 14.775619, "relative_strength": -12.294471, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -75.07048, "energy": 76.762265, "activity_lines": [ 13.120673, 13.208559, 13.293435, 13.340064 ] }, { "date": "2023-12-08", "close": 12.836232, "volume": 1812356, "typical_volume": 284134.25, "trend": 13.388133, "fair_value": 14.758262, "relative_strength": -12.963861, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -88.503654, "energy": 88.586009, "activity_lines": [ 13.010293, 13.126352, 13.245999, 13.30256 ] }, { "date": "2023-12-15", "close": 12.818037, "volume": 1090227, "typical_volume": 331695.6, "trend": 13.359628, "fair_value": 14.740898, "relative_strength": -13.899568, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -82.837592, "energy": 90.358553, "activity_lines": [ 12.923566, 13.055559, 13.199776, 13.265779 ] }, { "date": "2023-12-22", "close": 13.00908, "volume": 487000, "typical_volume": 353745.6, "trend": 13.336885, "fair_value": 14.724378, "relative_strength": -11.799407, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -66.572206, "energy": 81.268349, "activity_lines": [ 12.930843, 13.030086, 13.17452, 13.243163 ] }, { "date": "2023-12-29", "close": 12.918108, "volume": 1175050, "typical_volume": 411248.1, "trend": 13.312625, "fair_value": 14.707222, "relative_strength": -13.506824, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -65.674014, "energy": 68.016982, "activity_lines": [ 12.919927, 12.994194, 13.14242, 13.216146 ] }, { "date": "2024-01-05", "close": 13.145539, "volume": 165000, "typical_volume": 416548.1, "trend": 13.297463, "fair_value": 14.69174, "relative_strength": -9.414037, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -59.979652, "energy": 45.762318, "activity_lines": [ 12.993312, 13.006268, 13.134059, 13.205366 ] }, { "date": "2024-01-12", "close": 13.236511, "volume": 580000, "typical_volume": 434194.2, "trend": 13.286546, "fair_value": 14.676895, "relative_strength": -8.297543, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -33.496194, "energy": 21.571552, "activity_lines": [ 13.090349, 13.039018, 13.134839, 13.201433 ] }, { "date": "2024-01-19", "close": 13.418457, "volume": 546000, "typical_volume": 458393.2, "trend": 13.285637, "fair_value": 14.663433, "relative_strength": -7.510651, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -0.991385, "energy": 18.789613, "activity_lines": [ 13.221349, 13.105676, 13.152947, 13.209944 ] }, { "date": "2024-01-26", "close": 13.40936, "volume": 515000, "typical_volume": 477993.2, "trend": 13.280785, "fair_value": 14.649209, "relative_strength": -8.759538, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "mixed", "direction": 20.915086, "energy": 34.213331, "activity_lines": [ 13.30929, 13.168034, 13.169755, 13.217926 ] }, { "date": "2024-02-02", "close": 13.463943, "volume": 210000, "typical_volume": 484543.2, "trend": 13.280178, "fair_value": 14.635877, "relative_strength": -8.377636, "stage": 4, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 33.161294, "energy": 42.687858, "activity_lines": [ 13.388739, 13.236346, 13.192022, 13.229743 ] }, { "date": "2024-02-09", "close": 13.40936, "volume": 304000, "typical_volume": 461943.2, "trend": 13.278359, "fair_value": 14.619703, "relative_strength": -8.594134, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 25.372735, "energy": 45.6111, "activity_lines": [ 13.413605, 13.287126, 13.20909, 13.238077 ] }, { "date": "2024-02-16", "close": 13.40936, "volume": 16001, "typical_volume": 462493.25, "trend": 13.276843, "fair_value": 14.604613, "relative_strength": -10.725741, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 25.17771, "energy": 52.534305, "activity_lines": [ 13.420883, 13.331289, 13.226418, 13.246528 ] }, { "date": "2024-02-23", "close": 13.463943, "volume": 549000, "typical_volume": 477143.25, "trend": 13.278966, "fair_value": 14.591009, "relative_strength": -11.315251, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 28.879494, "energy": 46.381939, "activity_lines": [ 13.434832, 13.374956, 13.250071, 13.258599 ] }, { "date": "2024-03-01", "close": 13.445747, "volume": 253000, "typical_volume": 479942.5, "trend": 13.280785, "fair_value": 14.576802, "relative_strength": -11.274999, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 32.590906, "energy": 32.830646, "activity_lines": [ 13.439683, 13.40357, 13.271688, 13.26936 ] }, { "date": "2024-03-08", "close": 13.372971, "volume": 730334, "typical_volume": 504451.9, "trend": 13.281391, "fair_value": 14.561532, "relative_strength": -15.093354, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 28.347834, "energy": 27.004759, "activity_lines": [ 13.41785, 13.411014, 13.285897, 13.275307 ] }, { "date": "2024-03-15", "close": 13.391165, "volume": 152000, "typical_volume": 504501.9, "trend": 13.286243, "fair_value": 14.545784, "relative_strength": -14.09159, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 16.284555, "energy": 20.020791, "activity_lines": [ 13.408146, 13.413495, 13.301405, 13.282389 ] }, { "date": "2024-03-22", "close": 13.418457, "volume": 401000, "typical_volume": 513401.9, "trend": 13.292308, "fair_value": 14.530102, "relative_strength": -15.820236, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 16.200065, "energy": 17.349047, "activity_lines": [ 13.408753, 13.416472, 13.319427, 13.290919 ] }, { "date": "2024-03-29", "close": 13.336581, "volume": 467000, "typical_volume": 533751.9, "trend": 13.292611, "fair_value": 14.51357, "relative_strength": -16.167144, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 40.557651, "energy": 22.358433, "activity_lines": [ 13.381461, 13.401255, 13.329, 13.293775 ] }, { "date": "2024-04-05", "close": 13.363873, "volume": 479000, "typical_volume": 539050.65, "trend": 13.289276, "fair_value": 14.496834, "relative_strength": -15.727748, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 38.251253, "energy": 21.098155, "activity_lines": [ 13.371757, 13.392488, 13.34087, 13.298373 ] }, { "date": "2024-04-12", "close": 13.400262, "volume": 113000, "typical_volume": 518199.4, "trend": 13.287153, "fair_value": 14.480169, "relative_strength": -16.634239, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 39.925553, "energy": 22.09791, "activity_lines": [ 13.379642, 13.391165, 13.355382, 13.305533 ] }, { "date": "2024-04-19", "close": 13.363873, "volume": 126000, "typical_volume": 508548.4, "trend": 13.283817, "fair_value": 14.463216, "relative_strength": -11.28009, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 36.077298, "energy": 18.911716, "activity_lines": [ 13.373577, 13.384383, 13.36474, 13.310483 ] }, { "date": "2024-04-26", "close": 13.354776, "volume": 221049, "typical_volume": 428983.05, "trend": 13.274114, "fair_value": 14.447018, "relative_strength": -13.457147, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 35.101577, "energy": 19.121272, "activity_lines": [ 13.366299, 13.376775, 13.371714, 13.315061 ] }, { "date": "2024-05-03", "close": 13.398384, "volume": 355400, "typical_volume": 392241.7, "trend": 13.274051, "fair_value": 14.430936, "relative_strength": -13.555746, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 29.734616, "energy": 18.043656, "activity_lines": [ 13.377803, 13.378087, 13.380373, 13.323078 ] }, { "date": "2024-05-10", "close": 13.641652, "volume": 257000, "typical_volume": 380741.7, "trend": 13.283917, "fair_value": 14.416144, "relative_strength": -13.099099, "stage": 1, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "up", "direction": 76.160446, "energy": 50.711351, "activity_lines": [ 13.466275, 13.424822, 13.409436, 13.346795 ] }, { "date": "2024-05-17", "close": 13.622939, "volume": 417000, "typical_volume": 342839.2, "trend": 13.295281, "fair_value": 14.400626, "relative_strength": -15.021127, "stage": 1, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 72.900493, "energy": 65.447353, "activity_lines": [ 13.529992, 13.464593, 13.433705, 13.368667 ] }, { "date": "2024-05-24", "close": 13.651009, "volume": 199001, "typical_volume": 344539.25, "trend": 13.304549, "fair_value": 14.387722, "relative_strength": -15.634945, "stage": 1, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 71.327129, "energy": 74.191258, "activity_lines": [ 13.58822, 13.504923, 13.457291, 13.391617 ] }, { "date": "2024-05-31", "close": 13.660365, "volume": 277000, "typical_volume": 329389.25, "trend": 13.317162, "fair_value": 14.375872, "relative_strength": -13.637788, "stage": 1, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 68.520291, "energy": 75.794229, "activity_lines": [ 13.630424, 13.542229, 13.47936, 13.414573 ] }, { "date": "2024-06-07", "close": 13.622939, "volume": 516000, "typical_volume": 327889.25, "trend": 13.32883, "fair_value": 14.363949, "relative_strength": -16.177002, "stage": 1, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 64.048723, "energy": 72.047843, "activity_lines": [ 13.639781, 13.568332, 13.495848, 13.434301 ] }, { "date": "2024-06-14", "close": 13.557444, "volume": 263000, "typical_volume": 315289.25, "trend": 13.341044, "fair_value": 14.351329, "relative_strength": -18.59236, "stage": 1, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 59.805543, "energy": 47.775205, "activity_lines": [ 13.612335, 13.577321, 13.505123, 13.44905 ] }, { "date": "2024-06-21", "close": 13.417098, "volume": 146000, "typical_volume": 312089.25, "trend": 13.353431, "fair_value": 14.339745, "relative_strength": -21.612133, "stage": 1, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 34.44931, "energy": 24.270557, "activity_lines": [ 13.543721, 13.557272, 13.500328, 13.453957 ] }, { "date": "2024-06-28", "close": 13.445167, "volume": 334000, "typical_volume": 313589.25, "trend": 13.366754, "fair_value": 14.328397, "relative_strength": -20.240557, "stage": 1, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 27.74338, "energy": 18.15143, "activity_lines": [ 13.498187, 13.542021, 13.498428, 13.459875 ] }, { "date": "2024-07-05", "close": 13.379673, "volume": 270000, "typical_volume": 326289.2, "trend": 13.384869, "fair_value": 14.315743, "relative_strength": -21.901088, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 9.855431, "energy": 17.951792, "activity_lines": [ 13.444544, 13.513384, 13.490121, 13.460709 ] }, { "date": "2024-07-12", "close": 13.286108, "volume": 478000, "typical_volume": 322739.2, "trend": 13.400471, "fair_value": 14.302545, "relative_strength": -23.161589, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -29.50765, "energy": 30.206455, "activity_lines": [ 13.378425, 13.467282, 13.473044, 13.454337 ] }, { "date": "2024-07-19", "close": 13.09898, "volume": 383126, "typical_volume": 329245.5, "trend": 13.403468, "fair_value": 14.288369, "relative_strength": -20.312812, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -42.764792, "energy": 47.164815, "activity_lines": [ 13.272386, 13.389199, 13.438992, 13.434886 ] }, { "date": "2024-07-26", "close": 13.052197, "volume": 49000, "typical_volume": 295178.8, "trend": 13.407938, "fair_value": 14.274004, "relative_strength": -17.496974, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -52.573051, "energy": 66.614909, "activity_lines": [ 13.181316, 13.312476, 13.402136, 13.412223 ] }, { "date": "2024-08-02", "close": 13.09898, "volume": 222000, "typical_volume": 298678.8, "trend": 13.406386, "fair_value": 14.261155, "relative_strength": -14.926404, "stage": 4, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -70.717401, "energy": 78.484412, "activity_lines": [ 13.130168, 13.254637, 13.371263, 13.39229 ] }, { "date": "2024-08-09", "close": 13.005415, "volume": 511000, "typical_volume": 304178.8, "trend": 13.398683, "fair_value": 14.247761, "relative_strength": -14.409281, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -75.7241, "energy": 82.142545, "activity_lines": [ 13.07091, 13.189822, 13.332871, 13.366421 ] }, { "date": "2024-08-16", "close": 13.042842, "volume": 25000, "typical_volume": 282078.8, "trend": 13.386162, "fair_value": 14.234607, "relative_strength": -17.036872, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -67.395856, "energy": 75.880466, "activity_lines": [ 13.049079, 13.14372, 13.300009, 13.343464 ] }, { "date": "2024-08-23", "close": 12.949278, "volume": 48000, "typical_volume": 260528.8, "trend": 13.370826, "fair_value": 14.221019, "relative_strength": -16.421253, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -75.018409, "energy": 77.036228, "activity_lines": [ 13.012277, 13.091155, 13.259636, 13.315278 ] }, { "date": "2024-08-30", "close": 12.96799, "volume": 87000, "typical_volume": 259228.8, "trend": 13.354294, "fair_value": 14.207883, "relative_strength": -16.210945, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -67.994923, "energy": 55.117312, "activity_lines": [ 12.991693, 13.053048, 13.223019, 13.289288 ] }, { "date": "2024-09-06", "close": 12.958633, "volume": 40000, "typical_volume": 254928.8, "trend": 13.33927, "fair_value": 14.194743, "relative_strength": -12.515213, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -65.690387, "energy": 50.911304, "activity_lines": [ 12.973604, 13.021407, 13.187569, 13.263762 ] }, { "date": "2024-09-13", "close": 12.939921, "volume": 59000, "typical_volume": 246826.35, "trend": 13.323622, "fair_value": 14.181538, "relative_strength": -13.460024, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -65.776842, "energy": 50.163865, "activity_lines": [ 12.958634, 12.995209, 13.152267, 13.237997 ] }, { "date": "2024-09-20", "close": 12.921208, "volume": 68000, "typical_volume": 232456.35, "trend": 13.305531, "fair_value": 14.169042, "relative_strength": -14.568774, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -65.669633, "energy": 49.43422, "activity_lines": [ 12.941792, 12.973604, 13.117158, 13.212035 ] }, { "date": "2024-09-27", "close": 12.893139, "volume": 105000, "typical_volume": 224856.35, "trend": 13.287111, "fair_value": 14.156587, "relative_strength": -16.598839, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -66.67528, "energy": 49.429206, "activity_lines": [ 12.923703, 12.95353, 13.081648, 13.185429 ] }, { "date": "2024-10-04", "close": 12.921208, "volume": 88000, "typical_volume": 208406.35, "trend": 13.272052, "fair_value": 14.144478, "relative_strength": -13.90166, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -60.691731, "energy": 45.74233, "activity_lines": [ 12.918713, 12.942303, 13.052376, 13.161823 ] }, { "date": "2024-10-11", "close": 12.874426, "volume": 16012, "typical_volume": 199256.9, "trend": 13.254827, "fair_value": 14.131959, "relative_strength": -15.896747, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -64.387255, "energy": 47.559334, "activity_lines": [ 12.901248, 12.924951, 13.02199, 13.136169 ] }, { "date": "2024-10-18", "close": 12.846356, "volume": 45000, "typical_volume": 187656.9, "trend": 13.235757, "fair_value": 14.118762, "relative_strength": -17.55365, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -67.227546, "energy": 56.874258, "activity_lines": [ 12.88004, 12.906578, 12.992629, 13.109816 ] }, { "date": "2024-10-25", "close": 12.86507, "volume": 29000, "typical_volume": 163306.9, "trend": 13.22004, "fair_value": 14.105464, "relative_strength": -16.268272, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -62.683028, "energy": 54.324547, "activity_lines": [ 12.871307, 12.8945, 12.968926, 13.085901 ] }, { "date": "2024-11-01", "close": 12.846356, "volume": 27000, "typical_volume": 151506.9, "trend": 13.20279, "fair_value": 14.091604, "relative_strength": -13.697, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -64.587789, "energy": 60.252356, "activity_lines": [ 12.860079, 12.882251, 12.947049, 13.061792 ] }, { "date": "2024-11-08", "close": 12.780861, "volume": 235000, "typical_volume": 155956.9, "trend": 13.182143, "fair_value": 14.077047, "relative_strength": -16.334904, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -72.862326, "energy": 70.97176, "activity_lines": [ 12.830138, 12.859966, 12.922322, 13.034571 ] }, { "date": "2024-11-15", "close": 12.76215, "volume": 81000, "typical_volume": 143306.9, "trend": 13.162085, "fair_value": 14.0632, "relative_strength": -12.947739, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -73.983013, "energy": 71.939678, "activity_lines": [ 12.803317, 12.837681, 12.898842, 13.007475 ] }, { "date": "2024-11-22", "close": 12.659228, "volume": 440000, "typical_volume": 151806.9, "trend": 13.138901, "fair_value": 14.047587, "relative_strength": -13.739208, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -83.044614, "energy": 80.796127, "activity_lines": [ 12.749674, 12.800255, 12.868812, 12.975032 ] }, { "date": "2024-11-29", "close": 12.649872, "volume": 59000, "typical_volume": 130856.9, "trend": 13.11395, "fair_value": 14.031583, "relative_strength": -10.836557, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -83.949088, "energy": 92.956576, "activity_lines": [ 12.705387, 12.766232, 12.841322, 12.943482 ] }, { "date": "2024-12-06", "close": 12.584377, "volume": 287000, "typical_volume": 126050.6, "trend": 13.078708, "fair_value": 14.014329, "relative_strength": -14.351819, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -86.276011, "energy": 93.927523, "activity_lines": [ 12.653615, 12.725234, 12.810624, 12.909316 ] }, { "date": "2024-12-13", "close": 12.584377, "volume": 195000, "typical_volume": 133350.6, "trend": 13.044089, "fair_value": 13.99702, "relative_strength": -13.238586, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -77.850548, "energy": 90.268271, "activity_lines": [ 12.619308, 12.689849, 12.782377, 12.877424 ] }, { "date": "2024-12-20", "close": 12.584377, "volume": 40000, "typical_volume": 124250.6, "trend": 13.008534, "fair_value": 13.979324, "relative_strength": -10.781183, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -71.822888, "energy": 83.961246, "activity_lines": [ 12.5981, 12.660589, 12.756357, 12.847765 ] }, { "date": "2024-12-27", "close": 12.584377, "volume": 39000, "typical_volume": 100650.6, "trend": 12.972668, "fair_value": 13.961572, "relative_strength": -13.236472, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -69.0669, "energy": 65.542357, "activity_lines": [ 12.588743, 12.636603, 12.732788, 12.8204 ] }, { "date": "2025-01-03", "close": 12.537595, "volume": 32000, "typical_volume": 101000.6, "trend": 12.93649, "fair_value": 13.942913, "relative_strength": -11.618924, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -74.044472, "energy": 64.484704, "activity_lines": [ 12.568783, 12.608874, 12.706768, 12.792331 ] }, { "date": "2025-01-10", "close": 12.556309, "volume": 169000, "typical_volume": 107050.6, "trend": 12.903119, "fair_value": 13.924318, "relative_strength": -11.306433, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -67.631537, "energy": 58.929492, "activity_lines": [ 12.562546, 12.590501, 12.684936, 12.767803 ] }, { "date": "2025-01-17", "close": 12.490813, "volume": 1757000, "typical_volume": 190550.6, "trend": 12.872243, "fair_value": 13.905248, "relative_strength": -11.682885, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -74.792744, "energy": 59.724651, "activity_lines": [ 12.536348, 12.565494, 12.658738, 12.741203 ] }, { "date": "2025-01-24", "close": 12.444031, "volume": 23000, "typical_volume": 189700.6, "trend": 12.838872, "fair_value": 13.885878, "relative_strength": -12.8317, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -76.765051, "energy": 61.094578, "activity_lines": [ 12.500793, 12.537255, 12.630357, 12.713576 ] }, { "date": "2025-02-07", "close": 12.490813, "volume": 9000, "typical_volume": 187200.6, "trend": 12.809243, "fair_value": 13.866863, "relative_strength": -11.731102, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -63.829141, "energy": 54.335038, "activity_lines": [ 12.490189, 12.523305, 12.608882, 12.691121 ] }, { "date": "2025-02-14", "close": 12.462744, "volume": 102000, "typical_volume": 188900.6, "trend": 12.781797, "fair_value": 13.847061, "relative_strength": -10.109244, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -67.449674, "energy": 57.448564, "activity_lines": [ 12.476467, 12.507314, 12.586872, 12.668766 ] }, { "date": "2025-02-21", "close": 12.425318, "volume": 216000, "typical_volume": 194450.6, "trend": 12.759342, "fair_value": 13.826907, "relative_strength": -12.003897, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -70.241442, "energy": 57.307726, "activity_lines": [ 12.455259, 12.487921, 12.563481, 12.645767 ] }, { "date": "2025-02-28", "close": 12.444031, "volume": 57000, "typical_volume": 192900.6, "trend": 12.73907, "fair_value": 13.80516, "relative_strength": -8.773009, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -64.873569, "energy": 54.994756, "activity_lines": [ 12.449021, 12.474822, 12.5441, 12.625425 ] }, { "date": "2025-03-07", "close": 12.444031, "volume": 59000, "typical_volume": 195050.0, "trend": 12.717238, "fair_value": 13.782749, "relative_strength": -6.361611, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -63.885566, "energy": 54.344572, "activity_lines": [ 12.445902, 12.464275, 12.526991, 12.60639 ] }, { "date": "2025-03-14", "close": 12.425318, "volume": 9000, "typical_volume": 193250.0, "trend": 12.697902, "fair_value": 13.760218, "relative_strength": -3.567177, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -67.395609, "energy": 61.046442, "activity_lines": [ 12.436546, 12.452877, 12.51015, 12.587556 ] }, { "date": "2025-03-21", "close": 12.425318, "volume": 39000, "typical_volume": 193750.0, "trend": 12.677317, "fair_value": 13.738793, "relative_strength": -4.23424, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -68.042736, "energy": 71.609141, "activity_lines": [ 12.431556, 12.444371, 12.495313, 12.56997 ] }, { "date": "2025-03-28", "close": 12.415962, "volume": 47000, "typical_volume": 194750.0, "trend": 12.65954, "fair_value": 13.71775, "relative_strength": -1.333248, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -69.787355, "energy": 71.649342, "activity_lines": [ 12.425942, 12.436206, 12.481679, 12.553109 ] }, { "date": "2025-04-04", "close": 12.387892, "volume": 65000, "typical_volume": 186250.0, "trend": 12.640204, "fair_value": 13.696859, "relative_strength": 0.101474, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -76.154004, "energy": 80.441886, "activity_lines": [ 12.411595, 12.425488, 12.467422, 12.535583 ] }, { "date": "2025-04-11", "close": 12.303684, "volume": 1025050, "typical_volume": 233452.5, "trend": 12.618372, "fair_value": 13.675429, "relative_strength": 8.526548, "stage": 1, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -88.170777, "energy": 84.229545, "activity_lines": [ 12.372922, 12.401331, 12.447016, 12.513872 ] }, { "date": "2025-04-18", "close": 12.266258, "volume": 384000, "typical_volume": 230652.5, "trend": 12.595917, "fair_value": 13.653979, "relative_strength": 8.992223, "stage": 1, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -86.951132, "energy": 83.450328, "activity_lines": [ 12.33113, 12.372922, 12.425229, 12.491155 ] }, { "date": "2025-04-25", "close": 12.322398, "volume": 538000, "typical_volume": 254602.5, "trend": 12.575956, "fair_value": 13.633332, "relative_strength": 7.087344, "stage": 1, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -67.000416, "energy": 77.027776, "activity_lines": [ 12.318655, 12.358802, 12.41066, 12.473509 ] }, { "date": "2025-05-02", "close": 12.275616, "volume": 1047000, "typical_volume": 292602.5, "trend": 12.555372, "fair_value": 13.612164, "relative_strength": 2.234123, "stage": 1, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -75.129442, "energy": 79.230004, "activity_lines": [ 12.297447, 12.338729, 12.393194, 12.454132 ] }, { "date": "2025-05-09", "close": 12.322398, "volume": 825015, "typical_volume": 324103.25, "trend": 12.535412, "fair_value": 13.59113, "relative_strength": 2.236451, "stage": 1, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -64.133636, "energy": 59.167861, "activity_lines": [ 12.30119, 12.329883, 12.381655, 12.439101 ] }, { "date": "2025-05-16", "close": 12.375194, "volume": 572160, "typical_volume": 350711.25, "trend": 12.518771, "fair_value": 13.56992, "relative_strength": -1.387142, "stage": 1, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -57.274115, "energy": 43.189628, "activity_lines": [ 12.326898, 12.332847, 12.376391, 12.428765 ] }, { "date": "2025-05-23", "close": 12.326929, "volume": 425000, "typical_volume": 370011.25, "trend": 12.501457, "fair_value": 13.54965, "relative_strength": -0.665434, "stage": 1, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -46.424161, "energy": 35.25016, "activity_lines": [ 12.33175, 12.328288, 12.367527, 12.416388 ] }, { "date": "2025-05-30", "close": 12.317276, "volume": 242000, "typical_volume": 380511.25, "trend": 12.483197, "fair_value": 13.530057, "relative_strength": 0.864199, "stage": 1, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -44.77808, "energy": 29.289181, "activity_lines": [ 12.329339, 12.323763, 12.358969, 12.404505 ] }, { "date": "2025-06-06", "close": 12.297969, "volume": 327000, "typical_volume": 388411.25, "trend": 12.464917, "fair_value": 13.510624, "relative_strength": -0.491924, "stage": 1, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -49.755068, "energy": 31.083321, "activity_lines": [ 12.320835, 12.317692, 12.349621, 12.392555 ] }, { "date": "2025-06-13", "close": 12.249703, "volume": 440000, "typical_volume": 322561.25, "trend": 12.447212, "fair_value": 13.491052, "relative_strength": -2.509494, "stage": 1, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -68.17908, "energy": 43.886057, "activity_lines": [ 12.294751, 12.30499, 12.336907, 12.37867 ] }, { "date": "2025-06-20", "close": 12.259357, "volume": 40000, "typical_volume": 323411.25, "trend": 12.430452, "fair_value": 13.472508, "relative_strength": -2.159077, "stage": 1, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -63.133393, "energy": 43.875749, "activity_lines": [ 12.276732, 12.296557, 12.326261, 12.36655 ] }, { "date": "2025-06-27", "close": 12.240051, "volume": 47000, "typical_volume": 325311.25, "trend": 12.41648, "fair_value": 13.454976, "relative_strength": -4.512008, "stage": 1, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -65.973288, "energy": 51.500232, "activity_lines": [ 12.26, 12.285419, 12.314655, 12.354266 ] }, { "date": "2025-07-04", "close": 12.182133, "volume": 118000, "typical_volume": 326111.25, "trend": 12.400888, "fair_value": 13.438493, "relative_strength": -4.686175, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -74.140526, "energy": 64.086626, "activity_lines": [ 12.229754, 12.264227, 12.298728, 12.339147 ] }, { "date": "2025-07-11", "close": 12.182133, "volume": 227000, "typical_volume": 326661.25, "trend": 12.38748, "fair_value": 13.422861, "relative_strength": -5.434497, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -72.340447, "energy": 72.088446, "activity_lines": [ 12.208518, 12.245585, 12.284137, 12.325034 ] }, { "date": "2025-07-18", "close": 12.133867, "volume": 187000, "typical_volume": 333161.25, "trend": 12.372463, "fair_value": 13.408, "relative_strength": -8.241325, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -79.775364, "energy": 81.670982, "activity_lines": [ 12.178915, 12.219867, 12.266107, 12.308672 ] }, { "date": "2025-07-25", "close": 12.114562, "volume": 17147, "typical_volume": 331068.6, "trend": 12.356803, "fair_value": 13.392106, "relative_strength": -8.144273, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -79.029301, "energy": 85.891004, "activity_lines": [ 12.1506, 12.194067, 12.247715, 12.292033 ] }, { "date": "2025-08-01", "close": 12.066297, "volume": 100000, "typical_volume": 335618.6, "trend": 12.339533, "fair_value": 13.375334, "relative_strength": -8.549266, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -83.30619, "energy": 90.274059, "activity_lines": [ 12.115849, 12.164231, 12.226295, 12.273291 ] }, { "date": "2025-08-08", "close": 11.940807, "volume": 452010, "typical_volume": 356269.1, "trend": 12.31964, "fair_value": 13.356622, "relative_strength": -11.383696, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -94.972218, "energy": 97.167094, "activity_lines": [ 12.050852, 12.116317, 12.194634, 12.247567 ] }, { "date": "2025-08-15", "close": 11.85393, "volume": 542000, "typical_volume": 381019.1, "trend": 12.296228, "fair_value": 13.337183, "relative_strength": -12.806084, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -97.020587, "energy": 98.7186, "activity_lines": [ 11.972984, 12.059452, 12.157006, 12.217521 ] }, { "date": "2025-08-22", "close": 11.882889, "volume": 247000, "typical_volume": 390119.1, "trend": 12.275964, "fair_value": 13.317532, "relative_strength": -10.238353, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -84.0104, "energy": 94.186417, "activity_lines": [ 11.926649, 12.015925, 12.124813, 12.190854 ] }, { "date": "2025-08-29", "close": 11.873236, "volume": 409000, "typical_volume": 359316.6, "trend": 12.256937, "fair_value": 13.297762, "relative_strength": -11.757998, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -75.741071, "energy": 90.797525, "activity_lines": [ 11.893829, 11.977313, 12.094104, 12.164871 ] }, { "date": "2025-09-05", "close": 11.873236, "volume": 354000, "typical_volume": 357816.6, "trend": 12.236351, "fair_value": 13.277935, "relative_strength": -12.403792, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -70.798751, "energy": 84.184779, "activity_lines": [ 11.877097, 11.945721, 12.065446, 12.140116 ] }, { "date": "2025-09-12", "close": 11.921501, "volume": 245000, "typical_volume": 343166.6, "trend": 12.21831, "fair_value": 13.256828, "relative_strength": -15.028113, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -67.545731, "energy": 66.562599, "activity_lines": [ 11.889324, 11.929575, 12.043255, 12.119803 ] }, { "date": "2025-09-19", "close": 12.182133, "volume": 79000, "typical_volume": 294766.6, "trend": 12.210204, "fair_value": 13.238356, "relative_strength": -13.163519, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -33.681214, "energy": 34.558227, "activity_lines": [ 11.989716, 11.965554, 12.047796, 12.117469 ] }, { "date": "2025-09-26", "close": 12.07595, "volume": 281001, "typical_volume": 267565.9, "trend": 12.197934, "fair_value": 13.219204, "relative_strength": -13.590604, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -37.902755, "energy": 26.229448, "activity_lines": [ 12.032833, 11.982228, 12.04267, 12.108808 ] }, { "date": "2025-10-03", "close": 12.027684, "volume": 85002, "typical_volume": 243208.0, "trend": 12.184056, "fair_value": 13.199743, "relative_strength": -17.397491, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -30.934655, "energy": 29.095549, "activity_lines": [ 12.04699, 11.991178, 12.03412, 12.097824 ] }, { "date": "2025-10-10", "close": 12.095255, "volume": 93000, "typical_volume": 226608.0, "trend": 12.173054, "fair_value": 13.181851, "relative_strength": -18.184768, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -21.327709, "energy": 27.766125, "activity_lines": [ 12.073375, 12.013995, 12.03366, 12.092095 ] }, { "date": "2025-10-17", "close": 12.056643, "volume": 274000, "typical_volume": 228208.0, "trend": 12.160765, "fair_value": 13.162177, "relative_strength": -18.096594, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -22.462722, "energy": 18.215487, "activity_lines": [ 12.072088, 12.029264, 12.030626, 12.084585 ] }, { "date": "2025-10-24", "close": 12.018031, "volume": 199000, "typical_volume": 221808.0, "trend": 12.1475, "fair_value": 13.142938, "relative_strength": -18.720409, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -18.728074, "energy": 11.304662, "activity_lines": [ 12.048921, 12.035407, 12.025156, 12.075376 ] }, { "date": "2025-10-31", "close": 11.960114, "volume": 79000, "typical_volume": 203758.0, "trend": 12.133241, "fair_value": 13.123043, "relative_strength": -20.759257, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -42.638518, "energy": 21.193306, "activity_lines": [ 12.017388, 12.028035, 12.015503, 12.063287 ] }, { "date": "2025-11-07", "close": 12.07595, "volume": 93110, "typical_volume": 206413.5, "trend": 12.12565, "fair_value": 13.104005, "relative_strength": -17.932434, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -26.028468, "energy": 15.861102, "activity_lines": [ 12.032189, 12.040321, 12.018261, 12.05959 ] }, { "date": "2025-11-14", "close": 11.882889, "volume": 237000, "typical_volume": 215913.5, "trend": 12.112871, "fair_value": 13.085717, "relative_strength": -18.174033, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -51.970832, "energy": 31.755303, "activity_lines": [ 11.979419, 12.013819, 12.003506, 12.043928 ] }, { "date": "2025-11-21", "close": 11.371278, "volume": 1307000, "typical_volume": 275363.5, "trend": 12.081167, "fair_value": 13.06432, "relative_strength": -18.458277, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -89.427371, "energy": 82.598398, "activity_lines": [ 11.77027, 11.894122, 11.941726, 11.996084 ] }, { "date": "2025-11-28", "close": 11.323012, "volume": 702000, "typical_volume": 299113.5, "trend": 12.049414, "fair_value": 13.042897, "relative_strength": -21.899709, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -92.989441, "energy": 96.370307, "activity_lines": [ 11.590724, 11.775652, 11.879211, 11.94717 ] }, { "date": "2025-12-05", "close": 11.2844, "volume": 340080, "typical_volume": 306767.5, "trend": 12.014814, "fair_value": 13.021455, "relative_strength": -22.684625, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -87.818017, "energy": 95.483951, "activity_lines": [ 11.444641, 11.665783, 11.81711, 11.897815 ] }, { "date": "2025-12-12", "close": 11.129951, "volume": 1882000, "typical_volume": 400010.15, "trend": 11.973306, "fair_value": 12.999079, "relative_strength": -23.915213, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -87.214381, "energy": 95.405864, "activity_lines": [ 11.292122, 11.542224, 11.744345, 11.840727 ] }, { "date": "2025-12-19", "close": 11.197523, "volume": 2223000, "typical_volume": 506160.15, "trend": 11.935659, "fair_value": 12.972876, "relative_strength": -21.653314, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -74.258042, "energy": 90.834939, "activity_lines": [ 11.225195, 11.447273, 11.682703, 11.790676 ] }, { "date": "2025-12-26", "close": 11.120299, "volume": 857000, "typical_volume": 526409.65, "trend": 11.895759, "fair_value": 12.955266, "relative_strength": -24.055887, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -78.672531, "energy": 92.078084, "activity_lines": [ 11.178217, 11.354604, 11.617844, 11.738072 ] }, { "date": "2026-01-02", "close": 11.18787, "volume": 1040000, "typical_volume": 551309.65, "trend": 11.858756, "fair_value": 12.936101, "relative_strength": -25.213588, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -68.192018, "energy": 74.441806, "activity_lines": [ 11.170494, 11.291245, 11.563327, 11.692402 ] }, { "date": "2026-01-09", "close": 11.255442, "volume": 176000, "typical_volume": 547759.65, "trend": 11.825614, "fair_value": 12.918505, "relative_strength": -26.608261, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -65.684469, "energy": 64.865064, "activity_lines": [ 11.194306, 11.255266, 11.518418, 11.653479 ] }, { "date": "2026-01-16", "close": 11.390584, "volume": 664000, "typical_volume": 560509.65, "trend": 11.796655, "fair_value": 12.902117, "relative_strength": -27.87365, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -52.837384, "energy": 53.463012, "activity_lines": [ 11.265095, 11.25667, 11.489367, 11.625412 ] }, { "date": "2026-01-23", "close": 11.409889, "volume": 633000, "typical_volume": 574459.65, "trend": 11.768983, "fair_value": 12.884944, "relative_strength": -28.501652, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -47.192402, "energy": 42.031062, "activity_lines": [ 11.324943, 11.274045, 11.464452, 11.60046 ] }, { "date": "2026-01-30", "close": 11.419543, "volume": 343700, "typical_volume": 579394.65, "trend": 11.743563, "fair_value": 12.867832, "relative_strength": -28.191381, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -40.551239, "energy": 28.496016, "activity_lines": [ 11.373852, 11.301776, 11.442664, 11.577915 ] }, { "date": "2026-02-06", "close": 11.390584, "volume": 373000, "typical_volume": 594094.65, "trend": 11.717178, "fair_value": 12.850535, "relative_strength": -27.250832, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -35.941537, "energy": 27.303256, "activity_lines": [ 11.393158, 11.323364, 11.420508, 11.555142 ] }, { "date": "2026-02-13", "close": 11.467809, "volume": 293000, "typical_volume": 594694.6, "trend": 11.694976, "fair_value": 12.834414, "relative_strength": -30.193377, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -32.898289, "energy": 25.32292, "activity_lines": [ 11.424691, 11.357764, 11.409476, 11.539054 ] }, { "date": "2026-02-27", "close": 11.467809, "volume": 744000, "typical_volume": 627644.5, "trend": 11.673418, "fair_value": 12.818634, "relative_strength": -33.233963, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -30.469424, "energy": 24.536342, "activity_lines": [ 11.442067, 11.388829, 11.40134, 11.524398 ] }, { "date": "2026-03-06", "close": 11.487114, "volume": 545000, "typical_volume": 650244.5, "trend": 11.654112, "fair_value": 12.803319, "relative_strength": -28.95144, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -17.696959, "energy": 18.666117, "activity_lines": [ 11.46073, 11.417262, 11.397709, 11.512378 ] }, { "date": "2026-03-13", "close": 11.535379, "volume": 260000, "typical_volume": 649544.5, "trend": 11.640598, "fair_value": 12.78837, "relative_strength": -27.632052, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -6.470304, "energy": 15.438648, "activity_lines": [ 11.490332, 11.449204, 11.40157, 11.504718 ] }, { "date": "2026-03-20", "close": 11.535379, "volume": 226000, "typical_volume": 650894.5, "trend": 11.629979, "fair_value": 12.77308, "relative_strength": -27.292166, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -2.843258, "energy": 15.385983, "activity_lines": [ 11.512212, 11.4736, 11.407913, 11.49793 ] }, { "date": "2026-03-27", "close": 11.458155, "volume": 108000, "typical_volume": 652344.5, "trend": 11.615821, "fair_value": 12.758033, "relative_strength": -26.197778, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -7.444709, "energy": 14.343009, "activity_lines": [ 11.498698, 11.477637, 11.4092, 11.486844 ] }, { "date": "2026-04-03", "close": 11.535379, "volume": 153000, "typical_volume": 655339.0, "trend": 11.60456, "fair_value": 12.743368, "relative_strength": -23.778621, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -0.50185, "energy": 12.419694, "activity_lines": [ 11.511568, 11.492028, 11.420232, 11.481655 ] }, { "date": "2026-04-10", "close": 11.535379, "volume": 115000, "typical_volume": 649239.0, "trend": 11.593298, "fair_value": 12.728646, "relative_strength": -29.151564, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": 0.121463, "energy": 12.063053, "activity_lines": [ 11.519934, 11.503787, 11.433839, 11.477191 ] }, { "date": "2026-04-17", "close": 11.525726, "volume": 238000, "typical_volume": 595789.0, "trend": 11.580105, "fair_value": 12.71392, "relative_strength": -30.962535, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -0.516583, "energy": 10.154564, "activity_lines": [ 11.521865, 11.51151, 11.44818, 11.472832 ] }, { "date": "2026-04-24", "close": 11.535379, "volume": 167000, "typical_volume": 569039.0, "trend": 11.558547, "fair_value": 12.69755, "relative_strength": -33.737174, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": 3.071712, "energy": 15.119576, "activity_lines": [ 11.527657, 11.519057, 11.462706, 11.469946 ] }, { "date": "2026-05-01", "close": 11.583645, "volume": 583000, "typical_volume": 581185.0, "trend": 11.542136, "fair_value": 12.683763, "relative_strength": -32.51406, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 33.895418, "energy": 24.844353, "activity_lines": [ 11.549537, 11.532747, 11.480817, 11.471565 ] }, { "date": "2026-05-08", "close": 11.71, "volume": 1559050, "typical_volume": 565037.5, "trend": 11.531547, "fair_value": 12.669487, "relative_strength": -35.296031, "stage": 4, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 45.551123, "energy": 37.30824, "activity_lines": [ 11.60517, 11.567304, 11.509536, 11.482395 ] }, { "date": "2026-05-15", "close": 11.55, "volume": 467000, "typical_volume": 477237.5, "trend": 11.513372, "fair_value": 12.653719, "relative_strength": -34.619056, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 27.5416, "energy": 24.402224, "activity_lines": [ 11.595828, 11.568367, 11.520256, 11.483586 ] }, { "date": "2026-05-22", "close": 11.59, "volume": 247050, "typical_volume": 446740.0, "trend": 11.497817, "fair_value": 12.640074, "relative_strength": -35.244768, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 25.909957, "energy": 23.754506, "activity_lines": [ 11.598845, 11.575559, 11.533107, 11.48853 ] }, { "date": "2026-05-29", "close": 11.6, "volume": 115038, "typical_volume": 400491.9, "trend": 11.483883, "fair_value": 12.626784, "relative_strength": -37.885782, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "up", "direction": 50.865217, "energy": 31.35814, "activity_lines": [ 11.60091, 11.583577, 11.544673, 11.495122 ] }, { "date": "2026-06-05", "close": 11.64, "volume": 3000, "typical_volume": 391841.9, "trend": 11.473212, "fair_value": 12.613635, "relative_strength": -37.217233, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 53.261585, "energy": 28.890796, "activity_lines": [ 11.612, 11.597692, 11.558086, 11.505194 ] }, { "date": "2026-06-12", "close": 11.63, "volume": 4000, "typical_volume": 358841.9, "trend": 11.458347, "fair_value": 12.600712, "relative_strength": -35.066087, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 52.894708, "energy": 31.531334, "activity_lines": [ 11.616, 11.606683, 11.568716, 11.51531 ] }, { "date": "2026-06-19", "close": 11.63, "volume": 72000, "typical_volume": 330791.9, "trend": 11.449918, "fair_value": 12.588081, "relative_strength": -37.369974, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 51.521818, "energy": 31.885739, "activity_lines": [ 11.625333, 11.613953, 11.578206, 11.526384 ] }, { "date": "2026-06-26", "close": 11.6, "volume": 22000, "typical_volume": 314706.9, "trend": 11.457542, "fair_value": 12.575492, "relative_strength": -33.937393, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 49.70332, "energy": 29.048576, "activity_lines": [ 11.619333, 11.614049, 11.58379, 11.536067 ] }, { "date": "2026-07-03", "close": 11.56, "volume": 5000, "typical_volume": 296306.9, "trend": 11.465441, "fair_value": 12.563403, "relative_strength": -36.357378, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 37.185849, "energy": 19.982077, "activity_lines": [ 11.599333, 11.605521, 11.584706, 11.542677 ] }, { "date": "2026-07-10", "close": 11.5, "volume": 240000, "typical_volume": 293656.9, "trend": 11.472628, "fair_value": 12.550231, "relative_strength": -33.756335, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 23.079712, "energy": 12.265972, "activity_lines": [ 11.562, 11.585636, 11.5791, 11.544906 ] }, { "date": "2026-07-17", "close": 11.41, "volume": 409000, "typical_volume": 276906.9, "trend": 11.481963, "fair_value": 12.536948, "relative_strength": -29.188013, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": -3.188417, "energy": 13.488871, "activity_lines": [ 11.504, 11.550909, 11.56477, 11.540866 ] }, { "date": "2026-07-24", "close": 11.36, "volume": 702000, "typical_volume": 284756.9, "trend": 11.487379, "fair_value": 12.523461, "relative_strength": -30.166742, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -28.823921, "energy": 34.425041, "activity_lines": [ 11.444, 11.512545, 11.545953, 11.532997 ] }, { "date": "2026-07-31", "close": 11.35, "volume": 922000, "typical_volume": 317856.9, "trend": 11.495036, "fair_value": 12.509969, "relative_strength": -28.419341, "stage": 1, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -33.526305, "energy": 56.511924, "activity_lines": [ 11.398667, 11.475818, 11.526789, 11.524134 ] }, { "date": "2026-08-07", "close": 11.35, "volume": 166000, "typical_volume": 314856.9, "trend": 11.50044, "fair_value": 12.496826, "relative_strength": -29.254185, "stage": 1, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -45.159023, "energy": 73.574026, "activity_lines": [ 11.37, 11.443455, 11.508508, 11.514777 ] } ], "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." } } }