{ "ticker": { "uuid": "5157914c-aea8-4e06-a846-e1d3314c2cbd", "symbol": "DCMT", "name": "DOUBLELINE ETF TRUST COMMODITY STRATEGY ETF", "exchange": "NYSEARCA", "country": "US", "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": "SPY", "stage": 2, "stage_name": "Advancing", "phase": "2a", "phase_label": "Stage 2A \u00b7 Early advance", "transition": "stage_2_healthy", "transition_label": "Stage 2 trend intact", "confidence": 71.392, "architecture_regime": "deceleration", "architecture_regime_label": "Deceleration", "architecture_modifier": "Re-acceleration watch", "architecture_gate": "up", "architecture_direction": 35.577, "architecture_energy": 28.233, "architecture_maturity": 43.423, "architecture_confidence": 50.193, "architecture_tenure": "Developing", "architecture": { "interpretation": { "headline": "The prior uptrend is attempting to re-accelerate.", "body": "Positive Trend survived a recompression and Fast Activity is strengthening again. Promotion requires renewed confirmation across the completed evidence set." }, "scores": { "balance": 46.14, "rotation_up": 58.48, "upward_expansion": 66.97, "deceleration": 65.08, "rotation_down": 10.73, "downward_expansion": 10.3 }, "activity_lines": [ 33.29058, 32.722233, 33.125778, 32.902556 ], "activity_state": "Compressed", "activity_direction": "Contracting", "rotation_direction": "Improving", "price_acceptance": 0.333333 }, "latest_close": 33.1442, "trend_reference": 32.018283, "distance_from_trend": 0.035165, "trend_direction": "Improving", "fair_value": 26.516452, "distance_from_fair_value": 0.249949, "fair_value_direction": "Weakening", "relative_strength": 0.45763, "relative_strength_direction": "Weakening", "price_momentum": 0.197185, "excess_performance": 0.071561, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.035165, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.071036, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.249949, "read": "Premium" }, { "label": "Fair Value direction", "positive": false, "value": -0.089879, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": true, "value": 0.004576, "read": "Leading" }, { "label": "Relative strength direction", "positive": false, "value": -0.113259, "read": "Weakening" }, { "label": "Price momentum", "positive": true, "value": 0.197185, "read": "Positive" }, { "label": "Volume balance", "positive": false, "value": 0.747939, "read": "Supply-led" } ], "volume": { "latest": 21260, "relative_activity": 0.728257, "balance": 0.747939, "dry_up": 1.52242, "accumulation_observations": 2, "distribution_observations": 1 }, "risk": { "range_context": 0.047572, "annualized_volatility": 0.228393, "from_high_reference": -0.089695, "from_low_reference": 0.332406 }, "levels": { "trend_reference": 32.018283, "fair_value_reference": 26.516452, "structural_low": 27.27, "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis." }, "outcomes": [ { "horizon": "Near term", "sample_count": 1, "median_return": 0.046907, "positive_rate": 1.0, "directional_follow_through": 1.0, "median_excess_return": 0.051527, "regime_survival": 1.0, "best_return": 0.046907, "worst_return": 0.046907, "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": "balance", "label": "Balance", "color": "blue", "start": "2025-08-08", "end": "2025-09-12", "tenure": "Developing", "return": 0.036944, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-09-19", "end": "2026-06-12", "tenure": "Extended", "return": 0.278474, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2026-06-19", "end": "2026-08-07", "tenure": "Developing", "return": 0.040203, "active": true } ], "chart_path": [ { "date": "2024-02-02", "close": 23.194567, "volume": 1829, "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": "2024-02-09", "close": 23.621898, "volume": 736481, "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": "2024-02-16", "close": 23.549821, "volume": 38703, "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": "2024-02-23", "close": 23.226854, "volume": 170721, "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": "2024-03-01", "close": 23.607653, "volume": 157143, "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": "2024-03-08", "close": 23.719804, "volume": 29514, "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": "2024-03-15", "close": 24.231556, "volume": 28803, "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": "2024-03-22", "close": 24.201168, "volume": 162127, "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": "2024-03-29", "close": 24.533062, "volume": 151066, "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": "2024-04-05", "close": 25.38345, "volume": 46801, "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": "2024-04-12", "close": 25.288488, "volume": 156342, "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": "2024-04-19", "close": 25.098563, "volume": 34159, "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": "2024-04-26", "close": 25.212518, "volume": 24298, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-05-03", "close": 24.334211, "volume": 20793, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-05-10", "close": 24.481212, "volume": 29639, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-05-17", "close": 25.07957, "volume": 147891, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-05-24", "close": 24.811777, "volume": 17218, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-05-31", "close": 24.557277, "volume": 392037, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-06-07", "close": 24.077717, "volume": 217515, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-06-14", "close": 24.414834, "volume": 18808, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-06-21", "close": 24.429078, "volume": 14739, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-06-28", "close": 24.448165, "volume": 40934, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-07-05", "close": 24.984608, "volume": 144717, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-07-12", "close": 24.533537, "volume": 153639, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-07-19", "close": 23.807074, "volume": 15298, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-07-26", "close": 23.493698, "volume": 147816, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-08-02", "close": 23.132841, "volume": 7370, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-08-09", "close": 23.366829, "volume": 11879, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-08-16", "close": 23.427225, "volume": 19193, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-08-23", "close": 23.512691, "volume": 7587, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-08-30", "close": 23.518863, "volume": 145525, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-09-06", "close": 22.688227, "volume": 147015, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-09-13", "close": 23.136355, "volume": 21479, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-09-20", "close": 23.844489, "volume": 13163, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-09-27", "close": 24.027387, "volume": 190610, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-10-04", "close": 24.870653, "volume": 19905, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-10-11", "close": 24.72821, "volume": 15369, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-10-18", "close": 23.978007, "volume": 223429, "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": 24.391093, "volume": 25298, "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": 24.066227, "volume": 59318, "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": 24.276378, "volume": 99708, "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": 23.79283, "volume": 18743, "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": 24.52404, "volume": 19006, "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": 24.372101, "volume": 5695, "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": 24.353108, "volume": 111231, "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": 24.655468, "volume": 15833, "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": 24.288154, "volume": 109572, "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": 24.446067, "volume": 10870, "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": 24.754839, "volume": 5564, "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": 25.395735, "volume": 14305, "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": 25.623261, "volume": 8909, "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": 25.613708, "volume": 14041, "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": 25.577138, "volume": 61127, "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": 25.792121, "volume": 15094, "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": 26.002568, "volume": 19236, "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": 25.975454, "volume": 14963, "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": 25.283515, "volume": 13323, "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": 25.35791, "volume": 133724, "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": 25.435103, "volume": 92944, "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": 25.66205, "volume": 13353, "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": 25.677296, "volume": 183268, "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": 24.282129, "volume": 37921, "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": 24.140286, "volume": 16740, "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": 24.557032, "volume": 11386, "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": 24.618015, "volume": 25055, "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": 24.368778, "volume": 12849, "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": 24.79826, "volume": 13409, "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": 24.634225, "volume": 14255, "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": 24.799322, "volume": 12219, "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": 24.296699, "volume": 18778, "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": 25.08098, "volume": 19297, "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": 25.989928, "volume": 19422, "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": 26.348779, "volume": 185467, "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": 24.951296, "volume": 18022, "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": 25.233533, "volume": 7873, "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": 25.575015, "volume": 9529, "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": 25.671507, "volume": 15014, "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": 25.464533, "volume": 10426, "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": 25.208348, "volume": 25342, "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": 25.073261, "volume": 15419, "typical_volume": 33584.55, "trend": 25.236402, "fair_value": 24.587025, "relative_strength": -7.73697, "stage": 3, "regime": "balance", "modifier": "Neutral compression", "gate": "mixed", "direction": 1.474079, "energy": 3.533647, "activity_lines": [ 25.300755, 25.391903, 25.207344, 25.18115 ] }, { "date": "2025-08-15", "close": 25.111857, "volume": 11959, "typical_volume": 25019.1, "trend": 25.219355, "fair_value": 24.593505, "relative_strength": -8.338497, "stage": 3, "regime": "balance", "modifier": "Neutral compression", "gate": "mixed", "direction": -2.373275, "energy": 7.455558, "activity_lines": [ 25.205196, 25.328656, 25.214334, 25.173115 ] }, { "date": "2025-08-22", "close": 25.676331, "volume": 17033, "typical_volume": 23974.7, "trend": 25.221442, "fair_value": 24.60671, "relative_strength": -6.441576, "stage": 3, "regime": "balance", "modifier": "Neutral compression", "gate": "mixed", "direction": 13.027383, "energy": 8.661593, "activity_lines": [ 25.328673, 25.367478, 25.277776, 25.202598 ] }, { "date": "2025-08-29", "close": 25.85484, "volume": 26316, "typical_volume": 24453.5, "trend": 25.230699, "fair_value": 24.621748, "relative_strength": -5.661006, "stage": 3, "regime": "balance", "modifier": "Neutral compression", "gate": "up", "direction": 53.798709, "energy": 25.65512, "activity_lines": [ 25.511331, 25.444459, 25.35158, 25.243462 ] }, { "date": "2025-09-05", "close": 25.628086, "volume": 10414, "typical_volume": 24404.9, "trend": 25.225231, "fair_value": 24.633728, "relative_strength": -6.681753, "stage": 3, "regime": "balance", "modifier": "Neutral compression", "gate": "up", "direction": 47.582538, "energy": 34.721953, "activity_lines": [ 25.592384, 25.489193, 25.395624, 25.2691 ] }, { "date": "2025-09-12", "close": 25.999577, "volume": 16186, "typical_volume": 23961.45, "trend": 25.225131, "fair_value": 24.649797, "relative_strength": -6.703532, "stage": 3, "regime": "balance", "modifier": "Neutral compression", "gate": "up", "direction": 61.716996, "energy": 57.396742, "activity_lines": [ 25.769285, 25.589165, 25.469947, 25.319058 ] }, { "date": "2025-09-19", "close": 25.80177, "volume": 18718, "typical_volume": 24254.9, "trend": 25.219342, "fair_value": 24.663192, "relative_strength": -8.394188, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 54.009333, "energy": 54.714367, "activity_lines": [ 25.818495, 25.639244, 25.518853, 25.35626 ] }, { "date": "2025-09-26", "close": 26.391525, "volume": 18808, "typical_volume": 24524.85, "trend": 25.256276, "fair_value": 24.683058, "relative_strength": -5.920055, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 74.955855, "energy": 68.84894, "activity_lines": [ 26.018297, 25.792428, 25.617103, 25.431885 ] }, { "date": "2025-10-03", "close": 26.029972, "volume": 18909, "typical_volume": 24757.55, "trend": 25.278678, "fair_value": 24.698363, "relative_strength": -8.023491, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 58.54005, "energy": 60.881265, "activity_lines": [ 26.049901, 25.866784, 25.673331, 25.481801 ] }, { "date": "2025-10-10", "close": 25.666682, "volume": 19040, "typical_volume": 25098.6, "trend": 25.286397, "fair_value": 24.709243, "relative_strength": -6.894489, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 53.202912, "energy": 35.729471, "activity_lines": [ 25.948733, 25.864807, 25.688315, 25.506833 ] }, { "date": "2025-10-17", "close": 25.841331, "volume": 20215, "typical_volume": 25170.45, "trend": 25.292373, "fair_value": 24.721822, "relative_strength": -7.755112, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 50.023913, "energy": 31.414363, "activity_lines": [ 25.903208, 25.886251, 25.715801, 25.542635 ] }, { "date": "2025-10-24", "close": 26.318577, "volume": 16268, "typical_volume": 25019.0, "trend": 25.313749, "fair_value": 24.739369, "relative_strength": -7.676603, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 60.132066, "energy": 33.147644, "activity_lines": [ 26.027315, 25.980502, 25.781384, 25.608842 ] }, { "date": "2025-10-31", "close": 26.179147, "volume": 17487, "typical_volume": 24922.25, "trend": 25.376983, "fair_value": 24.755019, "relative_strength": -8.635004, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 55.304335, "energy": 31.582707, "activity_lines": [ 26.070491, 26.027461, 25.827794, 25.664674 ] }, { "date": "2025-11-07", "close": 26.037498, "volume": 26739, "typical_volume": 16985.85, "trend": 25.440223, "fair_value": 24.768809, "relative_strength": -7.531388, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 49.729743, "energy": 30.632697, "activity_lines": [ 26.08061, 26.039524, 25.859813, 25.707288 ] }, { "date": "2025-11-14", "close": 26.268209, "volume": 13703, "typical_volume": 16769.9, "trend": 25.497263, "fair_value": 24.78476, "relative_strength": -6.759127, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 55.718064, "energy": 35.860245, "activity_lines": [ 26.167131, 26.090214, 25.915287, 25.760707 ] }, { "date": "2025-11-21", "close": 25.773208, "volume": 32927, "typical_volume": 18022.6, "trend": 25.535769, "fair_value": 24.795165, "relative_strength": -6.61526, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 45.931302, "energy": 24.34444, "activity_lines": [ 26.048549, 26.039265, 25.917347, 25.778509 ] }, { "date": "2025-11-28", "close": 26.361226, "volume": 18720, "typical_volume": 18482.15, "trend": 25.602184, "fair_value": 24.811478, "relative_strength": -7.789309, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 57.063671, "energy": 29.50897, "activity_lines": [ 26.130515, 26.099344, 25.972838, 25.831765 ] }, { "date": "2025-12-05", "close": 26.501428, "volume": 12859, "typical_volume": 18374.4, "trend": 25.658956, "fair_value": 24.8289, "relative_strength": -7.528944, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 60.182818, "energy": 34.688097, "activity_lines": [ 26.256372, 26.174742, 26.037939, 25.88978 ] }, { "date": "2025-12-12", "close": 26.065191, "volume": 106615, "typical_volume": 23183.85, "trend": 25.706655, "fair_value": 24.841515, "relative_strength": -8.397518, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 46.931229, "energy": 25.99136, "activity_lines": [ 26.215331, 26.168826, 26.057541, 25.915989 ] }, { "date": "2025-12-19", "close": 25.854744, "volume": 16510, "typical_volume": 22742.25, "trend": 25.741836, "fair_value": 24.85175, "relative_strength": -9.097258, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 31.734073, "energy": 19.530488, "activity_lines": [ 26.102295, 26.124007, 26.05424, 25.925543 ] }, { "date": "2025-12-26", "close": 26.3951, "volume": 17576, "typical_volume": 22850.1, "trend": 25.811783, "fair_value": 24.867183, "relative_strength": -8.363734, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 52.652115, "energy": 27.212429, "activity_lines": [ 26.196942, 26.174015, 26.099323, 25.967689 ] }, { "date": "2026-01-02", "close": 26.16, "volume": 10419, "typical_volume": 22773.1, "trend": 25.84775, "fair_value": 24.879983, "relative_strength": -8.06055, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 42.961644, "energy": 19.084653, "activity_lines": [ 26.171763, 26.171209, 26.115722, 25.990155 ] }, { "date": "2026-01-09", "close": 26.7448, "volume": 19975, "typical_volume": 22920.2, "trend": 25.872912, "fair_value": 24.898266, "relative_strength": -7.236074, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 63.412909, "energy": 36.357949, "activity_lines": [ 26.354932, 26.277613, 26.182824, 26.048029 ] }, { "date": "2026-01-16", "close": 26.9628, "volume": 15566, "typical_volume": 22382.7, "trend": 25.89338, "fair_value": 24.91831, "relative_strength": -5.962631, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 68.936703, "energy": 62.08968, "activity_lines": [ 26.594543, 26.41337, 26.265601, 26.118344 ] }, { "date": "2026-01-23", "close": 27.6626, "volume": 16483, "typical_volume": 22686.15, "trend": 25.983757, "fair_value": 24.944697, "relative_strength": -3.06995, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 83.113057, "energy": 80.102034, "activity_lines": [ 27.00758, 26.659539, 26.409749, 26.232488 ] }, { "date": "2026-01-30", "close": 28.34, "volume": 41380, "typical_volume": 23945.85, "trend": 26.087305, "fair_value": 24.977034, "relative_strength": -0.995665, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 89.992911, "energy": 90.270939, "activity_lines": [ 27.525893, 27.003519, 26.608724, 26.384503 ] }, { "date": "2026-02-06", "close": 27.6851, "volume": 31397, "typical_volume": 24579.8, "trend": 26.157642, "fair_value": 25.002581, "relative_strength": -2.943446, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 64.998927, "energy": 80.879494, "activity_lines": [ 27.696247, 27.181757, 26.734182, 26.487587 ] }, { "date": "2026-02-13", "close": 27.5674, "volume": 23199, "typical_volume": 24799.35, "trend": 26.220838, "fair_value": 25.026552, "relative_strength": -1.974928, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 64.754135, "energy": 78.845531, "activity_lines": [ 27.725693, 27.314525, 26.839462, 26.578539 ] }, { "date": "2026-02-20", "close": 28.4177, "volume": 15346, "typical_volume": 24621.2, "trend": 26.319277, "fair_value": 25.057951, "relative_strength": 0.043495, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 78.359112, "energy": 78.120403, "activity_lines": [ 27.983733, 27.582512, 27.020124, 26.720272 ] }, { "date": "2026-02-27", "close": 28.9, "volume": 43003, "typical_volume": 25819.35, "trend": 26.442332, "fair_value": 25.093199, "relative_strength": 2.295601, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 82.637912, "energy": 75.331464, "activity_lines": [ 28.305547, 27.895416, 27.235349, 26.88677 ] }, { "date": "2026-03-06", "close": 31.3358, "volume": 17832, "typical_volume": 25700.2, "trend": 26.651083, "fair_value": 25.14995, "relative_strength": 13.053925, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 94.411922, "energy": 93.290404, "activity_lines": [ 29.3568, 28.595825, 27.667158, 27.202478 ] }, { "date": "2026-03-13", "close": 32.8737, "volume": 27178, "typical_volume": 26245.7, "trend": 26.909811, "fair_value": 25.219534, "relative_strength": 20.189834, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 94.851584, "energy": 97.424441, "activity_lines": [ 30.720967, 29.486022, 28.21927, 27.603937 ] }, { "date": "2026-03-20", "close": 33.4138, "volume": 25271, "typical_volume": 26634.9, "trend": 27.167727, "fair_value": 25.292697, "relative_strength": 24.087442, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 92.304452, "energy": 97.034048, "activity_lines": [ 31.91926, 30.352351, 28.791605, 28.023549 ] }, { "date": "2026-03-27", "close": 33.4935, "volume": 25978, "typical_volume": 26596.85, "trend": 27.422349, "fair_value": 25.36527, "relative_strength": 26.866498, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 83.631105, "energy": 94.05366, "activity_lines": [ 32.75436, 31.111916, 29.33708, 28.431664 ] }, { "date": "2026-04-03", "close": 33.813, "volume": 61823, "typical_volume": 29002.85, "trend": 27.695179, "fair_value": 25.439373, "relative_strength": 23.662634, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 78.407635, "energy": 91.976299, "activity_lines": [ 33.357573, 31.810833, 29.877478, 28.843964 ] }, { "date": "2026-04-10", "close": 32.7238, "volume": 29328, "typical_volume": 28822.9, "trend": 27.91932, "fair_value": 25.502716, "relative_strength": 15.387601, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 68.140374, "energy": 70.007962, "activity_lines": [ 33.270187, 32.199887, 30.278216, 29.168391 ] }, { "date": "2026-04-17", "close": 32.1702, "volume": 24450, "typical_volume": 29109.4, "trend": 28.131601, "fair_value": 25.560194, "relative_strength": 8.629111, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 65.463134, "energy": 64.532279, "activity_lines": [ 32.905733, 32.408582, 30.593132, 29.442641 ] }, { "date": "2026-04-24", "close": 34.151, "volume": 25196, "typical_volume": 29726.25, "trend": 28.39025, "fair_value": 25.63362, "relative_strength": 14.565806, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 77.509332, "energy": 66.097066, "activity_lines": [ 33.248447, 32.895875, 31.069033, 29.83099 ] }, { "date": "2026-05-01", "close": 35.4752, "volume": 24050, "typical_volume": 25598.0, "trend": 28.705091, "fair_value": 25.717023, "relative_strength": 17.589285, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 83.564288, "energy": 68.781948, "activity_lines": [ 33.983413, 33.504229, 31.634623, 30.288083 ] }, { "date": "2026-05-08", "close": 34.5559, "volume": 36230, "typical_volume": 26584.0, "trend": 29.001399, "fair_value": 25.791299, "relative_strength": 11.783558, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 68.489984, "energy": 63.146048, "activity_lines": [ 34.279833, 33.81712, 32.06785, 30.665555 ] }, { "date": "2026-05-15", "close": 35.831, "volume": 22202, "typical_volume": 26815.3, "trend": 29.334388, "fair_value": 25.874964, "relative_strength": 15.319138, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 76.963421, "energy": 68.206352, "activity_lines": [ 34.95176, 34.259013, 32.581081, 31.106174 ] }, { "date": "2026-05-22", "close": 35.1866, "volume": 22864, "typical_volume": 27437.55, "trend": 29.629988, "fair_value": 25.951919, "relative_strength": 12.063863, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 64.898865, "energy": 62.596546, "activity_lines": [ 35.20174, 34.502011, 32.988009, 31.483736 ] }, { "date": "2026-05-29", "close": 34.12, "volume": 18887, "typical_volume": 27383.15, "trend": 29.894683, "fair_value": 26.018871, "relative_strength": 6.943353, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 62.47088, "energy": 54.458268, "activity_lines": [ 34.895093, 34.509029, 33.250371, 31.773414 ] }, { "date": "2026-06-05", "close": 33.8904, "volume": 23927, "typical_volume": 27801.2, "trend": 30.156447, "fair_value": 26.082867, "relative_strength": 8.771103, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 59.173642, "energy": 48.266725, "activity_lines": [ 34.51398, 34.461462, 33.455747, 32.031202 ] }, { "date": "2026-06-12", "close": 32.9869, "volume": 27189, "typical_volume": 28336.5, "trend": 30.380403, "fair_value": 26.138545, "relative_strength": 5.250858, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 42.637133, "energy": 31.151829, "activity_lines": [ 33.937353, 34.242405, 33.542086, 32.213812 ] }, { "date": "2026-06-19", "close": 31.8632, "volume": 21097, "typical_volume": 27322.35, "trend": 30.583403, "fair_value": 26.184342, "relative_strength": 0.828109, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 23.03839, "energy": 23.27616, "activity_lines": [ 33.09076, 33.83406, 33.496053, 32.309477 ] }, { "date": "2026-06-26", "close": 30.7342, "volume": 21561, "typical_volume": 26830.55, "trend": 30.729169, "fair_value": 26.220452, "relative_strength": -0.42778, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -11.99155, "energy": 25.608001, "activity_lines": [ 32.132353, 33.236089, 33.325719, 32.319205 ] }, { "date": "2026-07-03", "close": 30.7054, "volume": 9094, "typical_volume": 26125.3, "trend": 30.869301, "fair_value": 26.255766, "relative_strength": -2.64913, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -14.099709, "energy": 33.858139, "activity_lines": [ 31.461173, 32.658991, 33.138122, 32.317672 ] }, { "date": "2026-07-10", "close": 31.9849, "volume": 12208, "typical_volume": 25968.4, "trend": 31.066625, "fair_value": 26.300525, "relative_strength": 0.000423, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -3.528837, "energy": 29.528272, "activity_lines": [ 31.444133, 32.377176, 33.05744, 32.389646 ] }, { "date": "2026-07-17", "close": 33.3578, "volume": 55932, "typical_volume": 26614.85, "trend": 31.316727, "fair_value": 26.355233, "relative_strength": 5.759799, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 6.686097, "energy": 21.868409, "activity_lines": [ 32.01176, 32.40844, 33.090523, 32.537464 ] }, { "date": "2026-07-24", "close": 33.8724, "volume": 62334, "typical_volume": 28839.95, "trend": 31.56597, "fair_value": 26.413057, "relative_strength": 7.759869, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 33.263964, "energy": 15.524662, "activity_lines": [ 32.726193, 32.555051, 33.151388, 32.702346 ] }, { "date": "2026-07-31", "close": 33.33, "volume": 38250, "typical_volume": 29393.55, "trend": 31.80497, "fair_value": 26.465858, "relative_strength": 4.713106, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 34.796647, "energy": 25.074545, "activity_lines": [ 33.12588, 32.638655, 33.148517, 32.816154 ] }, { "date": "2026-08-07", "close": 33.1442, "volume": 21260, "typical_volume": 29193.0, "trend": 32.018283, "fair_value": 26.516452, "relative_strength": 0.45763, "stage": 2, "regime": "deceleration", "modifier": "Re-acceleration watch", "gate": "up", "direction": 35.576917, "energy": 28.233241, "activity_lines": [ 33.29058, 32.722233, 33.125778, 32.902556 ] } ], "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." } } }