{ "ticker": { "uuid": "5928e519-1174-4a4f-807d-95781aa065a5", "symbol": "CNR", "name": "Canadian National Railway Company", "exchange": "TOR", "country": "CA", "assetType": "equity" }, "methodBoundary": "Trend Architecture is a weekly structural classification, not a forecast, probability of return, recommendation or execution signal. Confidence measures geometric agreement and external confirmation only.", "analysis": { "eligible": true, "as_of": "2026-08-07", "benchmark": "^GSPTSE", "stage": 2, "stage_name": "Advancing", "phase": "2b", "phase_label": "Stage 2B \u00b7 Advancing", "transition": "stage_2_healthy", "transition_label": "Stage 2 trend intact", "confidence": 96.0, "architecture_regime": "upward_expansion", "architecture_regime_label": "Upward Expansion", "architecture_modifier": "Established expansion", "architecture_gate": "up", "architecture_direction": 66.025, "architecture_energy": 69.662, "architecture_maturity": 42.829, "architecture_confidence": 89.168, "architecture_tenure": "Established", "architecture": { "interpretation": { "headline": "The weekly architecture is expanding upward.", "body": "Trend and Activity show sustained positive alignment with constructive price acceptance. Directional energy remains positive; cooling within this regime can indicate that it is maturing." }, "scores": { "balance": 7.19, "rotation_up": 66.88, "upward_expansion": 87.22, "deceleration": 53.78, "rotation_down": 17.87, "downward_expansion": 13.88 }, "activity_lines": [ 178.826669, 176.031985, 169.019561, 163.115199 ], "activity_state": "Wide", "activity_direction": "Expanding", "rotation_direction": "Improving", "price_acceptance": 0.666667 }, "latest_close": 176.520004, "trend_reference": 155.474036, "distance_from_trend": 0.135366, "trend_direction": "Improving", "fair_value": 147.753391, "distance_from_fair_value": 0.194693, "fair_value_direction": "Improving", "relative_strength": 8.377727, "relative_strength_direction": "Improving", "price_momentum": 0.282053, "excess_performance": 0.161632, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.135366, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.092462, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.194693, "read": "Premium" }, { "label": "Fair Value direction", "positive": true, "value": 0.15365, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": true, "value": 0.083777, "read": "Leading" }, { "label": "Relative strength direction", "positive": true, "value": 0.103597, "read": "Improving" }, { "label": "Price momentum", "positive": true, "value": 0.282053, "read": "Positive" }, { "label": "Volume balance", "positive": true, "value": 2.568933, "read": "Demand-led" } ], "volume": { "latest": 6218400, "relative_activity": 1.139713, "balance": 2.568933, "dry_up": 1.188415, "accumulation_observations": 5, "distribution_observations": 2 }, "risk": { "range_context": 0.036322, "annualized_volatility": 0.22834, "from_high_reference": -0.047125, "from_low_reference": 0.418242 }, "levels": { "trend_reference": 155.474036, "fair_value_reference": 147.753391, "structural_low": 134.399994, "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis." }, "outcomes": [ { "horizon": "Near term", "sample_count": 18, "median_return": 0.006646, "positive_rate": 0.611111, "directional_follow_through": 0.611111, "median_excess_return": 0.00112, "regime_survival": 0.722222, "best_return": 0.142955, "worst_return": -0.055752, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 8, "median_return": 0.074538, "positive_rate": 0.625, "directional_follow_through": 0.625, "median_excess_return": 0.03954, "regime_survival": 0.375, "best_return": 0.173553, "worst_return": -0.090156, "sufficient": true }, { "horizon": "Extended", "sample_count": 5, "median_return": 0.018186, "positive_rate": 0.6, "directional_follow_through": 0.6, "median_excess_return": 0.089291, "regime_survival": 0.2, "best_return": 0.307267, "worst_return": -0.058058, "sufficient": true }, { "horizon": "Full cycle", "sample_count": 3, "median_return": -0.029553, "positive_rate": 0.333333, "directional_follow_through": 0.333333, "median_excess_return": -0.006829, "regime_survival": 0.0, "best_return": 0.049052, "worst_return": -0.09885, "sufficient": false } ], "ledger": [ { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2023-02-24", "end": "2023-03-03", "tenure": "New", "return": 0.034511, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2023-03-10", "end": "2023-06-09", "tenure": "Established", "return": -0.040853, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2023-06-16", "end": "2023-11-24", "tenure": "Established", "return": 0.006921, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2023-12-01", "end": "2023-12-22", "tenure": "New", "return": 0.039105, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2023-12-29", "end": "2024-04-26", "tenure": "Established", "return": 0.033175, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2024-05-03", "end": "2024-06-21", "tenure": "Developing", "return": -0.047787, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2024-06-28", "end": "2024-07-12", "tenure": "New", "return": 0.0133, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2024-07-19", "end": "2025-05-23", "tenure": "Extended", "return": -0.11449, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-05-30", "end": "2025-07-25", "tenure": "Developing", "return": -0.083483, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-08-01", "end": "2025-10-17", "tenure": "Developing", "return": 0.053935, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-10-24", "end": "2026-01-09", "tenure": "Developing", "return": 0.038699, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-01-16", "end": "2026-03-20", "tenure": "Developing", "return": -0.021392, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2026-03-27", "end": "2026-04-17", "tenure": "New", "return": 0.067605, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-04-24", "end": "2026-08-07", "tenure": "Established", "return": 0.132555, "active": true } ], "chart_path": [ { "date": "2023-08-18", "close": 144.591995, "volume": 4742300, "typical_volume": 5612455.0, "trend": 148.385081, "fair_value": 138.272718, "relative_strength": -2.128422, "stage": 3, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -49.757782, "energy": 20.398054, "activity_lines": [ 146.802285, 147.051381, 147.546195, 148.058552 ] }, { "date": "2023-08-25", "close": 143.680984, "volume": 4131100, "typical_volume": 5597690.0, "trend": 148.292121, "fair_value": 138.398831, "relative_strength": -2.774868, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -55.548339, "energy": 38.791797, "activity_lines": [ 145.590703, 146.416134, 147.076998, 147.755062 ] }, { "date": "2023-09-01", "close": 144.554459, "volume": 8484600, "typical_volume": 5806810.0, "trend": 148.130636, "fair_value": 138.552914, "relative_strength": -5.484955, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -51.771168, "energy": 44.411902, "activity_lines": [ 144.903831, 146.008176, 146.718052, 147.513922 ] }, { "date": "2023-09-08", "close": 138.940582, "volume": 6738400, "typical_volume": 5911590.0, "trend": 147.805579, "fair_value": 138.646453, "relative_strength": -6.900681, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -74.531916, "energy": 66.408946, "activity_lines": [ 142.721353, 144.603592, 145.863953, 146.921016 ] }, { "date": "2023-09-15", "close": 148.694275, "volume": 9717400, "typical_volume": 6025475.0, "trend": 147.888717, "fair_value": 138.804866, "relative_strength": -2.967014, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -42.465324, "energy": 39.242799, "activity_lines": [ 144.323403, 145.185645, 146.018181, 146.978351 ] }, { "date": "2023-09-22", "close": 140.234161, "volume": 5415600, "typical_volume": 6064865.0, "trend": 147.704109, "fair_value": 138.889276, "relative_strength": -4.47368, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -63.838336, "energy": 44.645706, "activity_lines": [ 143.037304, 144.147566, 145.377261, 146.484509 ] }, { "date": "2023-09-29", "close": 138.883926, "volume": 8755200, "typical_volume": 6264335.0, "trend": 147.3068, "fair_value": 138.966177, "relative_strength": -4.142968, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -66.199943, "energy": 50.922979, "activity_lines": [ 141.591648, 142.986769, 144.665596, 145.915465 ] }, { "date": "2023-10-06", "close": 138.185226, "volume": 5137200, "typical_volume": 6224680.0, "trend": 146.938219, "fair_value": 139.024271, "relative_strength": -3.077758, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -65.128064, "energy": 46.203247, "activity_lines": [ 140.232897, 141.84985, 143.95318, 145.326976 ] }, { "date": "2023-10-13", "close": 138.940582, "volume": 3462500, "typical_volume": 6065465.0, "trend": 146.638737, "fair_value": 139.070073, "relative_strength": -3.541049, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -62.098431, "energy": 62.491963, "activity_lines": [ 139.550546, 141.068533, 143.372833, 144.810999 ] }, { "date": "2023-10-20", "close": 137.788635, "volume": 6041200, "typical_volume": 6031885.0, "trend": 146.369071, "fair_value": 139.162589, "relative_strength": -2.514127, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -62.388379, "energy": 61.733612, "activity_lines": [ 138.484213, 140.223216, 142.711587, 144.240025 ] }, { "date": "2023-10-27", "close": 136.957764, "volume": 4304700, "typical_volume": 5780565.0, "trend": 145.967051, "fair_value": 139.282044, "relative_strength": -1.044171, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -66.379208, "energy": 61.018671, "activity_lines": [ 137.867966, 139.40654, 142.018055, 143.632844 ] }, { "date": "2023-11-03", "close": 143.302856, "volume": 4961200, "typical_volume": 5589430.0, "trend": 145.765009, "fair_value": 139.414836, "relative_strength": -2.032157, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -55.557686, "energy": 34.67877, "activity_lines": [ 139.585175, 139.882321, 141.958284, 143.46096 ] }, { "date": "2023-11-10", "close": 145.540604, "volume": 4455000, "typical_volume": 5604580.0, "trend": 145.521373, "fair_value": 139.53137, "relative_strength": 0.373919, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -27.190759, "energy": 14.97551, "activity_lines": [ 141.753706, 140.771841, 142.131367, 143.446483 ] }, { "date": "2023-11-17", "close": 149.317459, "volume": 4234700, "typical_volume": 5515355.0, "trend": 145.311433, "fair_value": 139.672402, "relative_strength": 0.400214, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -3.845877, "energy": 15.742464, "activity_lines": [ 144.690829, 142.330131, 142.66576, 143.691391 ] }, { "date": "2023-11-24", "close": 148.467682, "volume": 3033200, "typical_volume": 5480730.0, "trend": 145.229844, "fair_value": 139.812742, "relative_strength": 0.268116, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "mixed", "direction": 22.776959, "energy": 30.769755, "activity_lines": [ 146.652902, 143.545246, 143.125657, 143.89502 ] }, { "date": "2023-12-01", "close": 151.290863, "volume": 8742100, "typical_volume": 5664725.0, "trend": 145.193458, "fair_value": 139.985966, "relative_strength": 0.526756, "stage": 4, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 31.280428, "energy": 43.827911, "activity_lines": [ 148.844099, 145.277787, 143.834049, 144.286054 ] }, { "date": "2023-12-08", "close": 151.883591, "volume": 9779900, "typical_volume": 5894625.0, "trend": 145.166239, "fair_value": 140.149213, "relative_strength": 1.644519, "stage": 2, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 33.357944, "energy": 56.906531, "activity_lines": [ 150.277332, 146.917065, 144.578398, 144.717675 ] }, { "date": "2023-12-15", "close": 152.785095, "volume": 8647600, "typical_volume": 6005350.0, "trend": 145.23199, "fair_value": 140.314096, "relative_strength": 1.400845, "stage": 2, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 44.740761, "energy": 65.322008, "activity_lines": [ 151.439017, 148.483896, 145.386226, 145.209214 ] }, { "date": "2023-12-22", "close": 157.207031, "volume": 3904400, "typical_volume": 5910780.0, "trend": 145.639196, "fair_value": 140.512158, "relative_strength": 2.650667, "stage": 2, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "up", "direction": 84.229097, "energy": 85.115716, "activity_lines": [ 153.591714, 150.589263, 146.602831, 145.981798 ] }, { "date": "2023-12-29", "close": 158.042099, "volume": 1466000, "typical_volume": 5807715.0, "trend": 145.986398, "fair_value": 140.719947, "relative_strength": 2.862973, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 81.341464, "energy": 87.990723, "activity_lines": [ 155.496797, 152.514343, 147.850077, 146.781985 ] }, { "date": "2024-01-05", "close": 159.645752, "volume": 2711000, "typical_volume": 5706150.0, "trend": 146.536403, "fair_value": 140.895431, "relative_strength": 4.035181, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 80.924964, "energy": 90.395634, "activity_lines": [ 157.298135, 154.362752, 149.200673, 147.663234 ] }, { "date": "2024-01-12", "close": 160.575668, "volume": 4384500, "typical_volume": 5718820.0, "trend": 146.974018, "fair_value": 141.106916, "relative_strength": 4.355746, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 77.759725, "energy": 89.721302, "activity_lines": [ 158.852453, 155.967727, 150.568148, 148.568993 ] }, { "date": "2024-01-19", "close": 160.78447, "volume": 3425300, "typical_volume": 5465855.0, "trend": 147.470876, "fair_value": 141.354958, "relative_strength": 4.853036, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 73.567596, "energy": 86.881472, "activity_lines": [ 159.8969, 157.296616, 151.875058, 149.459989 ] }, { "date": "2024-01-26", "close": 158.136948, "volume": 4205600, "typical_volume": 5339215.0, "trend": 147.719818, "fair_value": 141.623318, "relative_strength": 1.947516, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 66.505629, "energy": 71.570952, "activity_lines": [ 159.525548, 157.866975, 152.852537, 150.148123 ] }, { "date": "2024-02-02", "close": 161.837753, "volume": 3716200, "typical_volume": 5039155.0, "trend": 148.308137, "fair_value": 141.881449, "relative_strength": 4.401465, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 74.467364, "energy": 65.663076, "activity_lines": [ 160.325804, 158.949854, 154.091063, 151.058958 ] }, { "date": "2024-02-09", "close": 164.172089, "volume": 4235300, "typical_volume": 4980140.0, "trend": 148.880973, "fair_value": 142.125367, "relative_strength": 6.121292, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 79.224332, "energy": 67.49162, "activity_lines": [ 161.651127, 160.214065, 155.489318, 152.082438 ] }, { "date": "2024-02-16", "close": 166.117355, "volume": 5177800, "typical_volume": 4801270.0, "trend": 149.512077, "fair_value": 142.396948, "relative_strength": 5.945392, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 80.474978, "energy": 68.641386, "activity_lines": [ 163.323117, 161.597757, 156.958847, 153.194463 ] }, { "date": "2024-02-23", "close": 168.613022, "volume": 4218400, "typical_volume": 4755330.0, "trend": 150.126186, "fair_value": 142.678426, "relative_strength": 6.560958, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 82.222815, "energy": 80.201919, "activity_lines": [ 165.45755, 163.176411, 158.536375, 154.426782 ] }, { "date": "2024-03-01", "close": 167.664093, "volume": 4859600, "typical_volume": 4825185.0, "trend": 150.816988, "fair_value": 142.9365, "relative_strength": 5.153103, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 72.76223, "energy": 84.411788, "activity_lines": [ 166.75377, 164.294752, 159.878635, 155.55826 ] }, { "date": "2024-03-08", "close": 165.611618, "volume": 6245700, "typical_volume": 4835410.0, "trend": 151.414955, "fair_value": 143.164206, "relative_strength": 2.96225, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 66.888392, "energy": 71.942725, "activity_lines": [ 166.730688, 164.849787, 160.888642, 156.512752 ] }, { "date": "2024-03-15", "close": 166.174194, "volume": 8952300, "typical_volume": 5067790.0, "trend": 152.134361, "fair_value": 143.382457, "relative_strength": 2.790349, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 64.575366, "energy": 62.025605, "activity_lines": [ 166.643541, 165.369481, 161.819738, 157.464961 ] }, { "date": "2024-03-22", "close": 170.941605, "volume": 4912100, "typical_volume": 5065335.0, "trend": 153.043049, "fair_value": 143.629129, "relative_strength": 5.009881, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 78.036758, "energy": 64.279427, "activity_lines": [ 168.012058, 166.637278, 163.065746, 158.678332 ] }, { "date": "2024-03-29", "close": 170.073929, "volume": 3336800, "typical_volume": 5009425.0, "trend": 153.893698, "fair_value": 143.865212, "relative_strength": 3.545308, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 69.718637, "energy": 59.265617, "activity_lines": [ 168.769732, 167.558844, 164.097506, 159.777098 ] }, { "date": "2024-04-05", "close": 168.100235, "volume": 4337200, "typical_volume": 5014550.0, "trend": 154.865686, "fair_value": 144.091937, "relative_strength": 1.855051, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 61.08539, "energy": 53.839497, "activity_lines": [ 168.772114, 167.952658, 164.82447, 160.693649 ] }, { "date": "2024-04-12", "close": 168.719986, "volume": 4359700, "typical_volume": 5080875.0, "trend": 155.53321, "fair_value": 144.314254, "relative_strength": 3.856986, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 59.277036, "energy": 51.727574, "activity_lines": [ 168.952004, 168.278002, 165.521016, 161.587475 ] }, { "date": "2024-04-19", "close": 167.308838, "volume": 4134200, "typical_volume": 4850480.0, "trend": 156.435699, "fair_value": 144.601617, "relative_strength": 3.384923, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 55.896282, "energy": 43.085873, "activity_lines": [ 168.454287, 168.221643, 165.986727, 162.347193 ] }, { "date": "2024-04-26", "close": 163.28511, "volume": 6224000, "typical_volume": 4672685.0, "trend": 157.249072, "fair_value": 144.883531, "relative_strength": 0.124462, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 39.212621, "energy": 24.996842, "activity_lines": [ 166.539684, 167.376666, 165.99295, 162.78909 ] }, { "date": "2024-05-03", "close": 161.111145, "volume": 4790200, "typical_volume": 4479815.0, "trend": 158.013269, "fair_value": 145.127871, "relative_strength": -1.090656, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 19.540482, "energy": 16.143633, "activity_lines": [ 164.410859, 166.187917, 165.737836, 163.038256 ] }, { "date": "2024-05-10", "close": 166.107452, "volume": 3777500, "typical_volume": 4473470.0, "trend": 158.918831, "fair_value": 145.440938, "relative_strength": 0.33262, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 26.317305, "energy": 19.059533, "activity_lines": [ 164.544989, 166.043985, 165.918913, 163.560462 ] }, { "date": "2024-05-17", "close": 165.134872, "volume": 5709000, "typical_volume": 4685620.0, "trend": 159.830373, "fair_value": 145.772449, "relative_strength": -0.934313, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 15.302419, "energy": 15.40383, "activity_lines": [ 164.487777, 165.751524, 165.96498, 163.961497 ] }, { "date": "2024-05-24", "close": 165.28743, "volume": 3320100, "typical_volume": 4716075.0, "trend": 160.774695, "fair_value": 146.045987, "relative_strength": -0.233583, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 16.310108, "energy": 11.780022, "activity_lines": [ 164.720426, 165.495468, 165.991801, 164.313565 ] }, { "date": "2024-05-31", "close": 165.43045, "volume": 6158700, "typical_volume": 4804785.0, "trend": 161.512281, "fair_value": 146.32131, "relative_strength": 0.070373, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 18.776223, "energy": 11.164653, "activity_lines": [ 165.135509, 165.281539, 166.005378, 164.613936 ] }, { "date": "2024-06-07", "close": 163.76033, "volume": 8671500, "typical_volume": 5067095.0, "trend": 162.119605, "fair_value": 146.59183, "relative_strength": 0.176264, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 10.851353, "energy": 5.91888, "activity_lines": [ 164.850862, 164.864154, 165.836778, 164.758972 ] }, { "date": "2024-06-14", "close": 160.291748, "volume": 6245000, "typical_volume": 5169065.0, "trend": 162.485415, "fair_value": 146.865082, "relative_strength": -0.285195, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -1.749488, "energy": 8.003289, "activity_lines": [ 163.233409, 163.930911, 165.323666, 164.641045 ] }, { "date": "2024-06-21", "close": 153.412109, "volume": 12048500, "typical_volume": 5585680.0, "trend": 162.650229, "fair_value": 147.087673, "relative_strength": -4.09399, "stage": 4, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -41.283812, "energy": 50.274176, "activity_lines": [ 159.710457, 161.888797, 164.14509, 164.055671 ] }, { "date": "2024-06-28", "close": 154.897278, "volume": 5047800, "typical_volume": 5626305.0, "trend": 162.770443, "fair_value": 147.316765, "relative_strength": -4.488343, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -44.043584, "energy": 61.413662, "activity_lines": [ 157.464079, 160.395039, 163.14808, 163.55548 ] }, { "date": "2024-07-05", "close": 154.04451, "volume": 3901600, "typical_volume": 5562495.0, "trend": 162.842474, "fair_value": 147.527734, "relative_strength": -5.732709, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -43.724075, "energy": 66.619844, "activity_lines": [ 155.626121, 158.971897, 162.11402, 162.992517 ] }, { "date": "2024-07-12", "close": 156.957336, "volume": 7307700, "typical_volume": 5716960.0, "trend": 162.981549, "fair_value": 147.769509, "relative_strength": -6.472809, "stage": 3, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -63.170335, "energy": 70.760558, "activity_lines": [ 155.518168, 158.24637, 161.414862, 162.612831 ] }, { "date": "2024-07-19", "close": 158.729935, "volume": 5173400, "typical_volume": 5732650.0, "trend": 163.032312, "fair_value": 148.014867, "relative_strength": -5.445819, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -58.650173, "energy": 51.777732, "activity_lines": [ 156.454614, 157.918658, 160.940026, 162.338533 ] }, { "date": "2024-07-26", "close": 152.923447, "volume": 6459500, "typical_volume": 5743340.0, "trend": 162.86169, "fair_value": 148.208082, "relative_strength": -9.255971, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -68.437269, "energy": 45.488322, "activity_lines": [ 155.559685, 156.669358, 159.954734, 161.686348 ] }, { "date": "2024-08-02", "close": 149.215347, "volume": 4227400, "typical_volume": 5507095.0, "trend": 162.51401, "fair_value": 148.37805, "relative_strength": -8.987314, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -74.811194, "energy": 50.263876, "activity_lines": [ 153.461301, 154.967883, 158.676711, 160.805939 ] }, { "date": "2024-08-09", "close": 145.842621, "volume": 4386700, "typical_volume": 5480825.0, "trend": 162.022908, "fair_value": 148.53203, "relative_strength": -11.216292, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -79.643896, "energy": 71.534036, "activity_lines": [ 150.617469, 152.945405, 157.158231, 159.730365 ] }, { "date": "2024-08-16", "close": 148.046371, "volume": 4523800, "typical_volume": 5540175.0, "trend": 161.598305, "fair_value": 148.692414, "relative_strength": -12.580807, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -67.899523, "energy": 76.098916, "activity_lines": [ 149.055014, 151.679752, 155.969152, 158.828653 ] }, { "date": "2024-08-23", "close": 152.070679, "volume": 5425100, "typical_volume": 5594570.0, "trend": 161.396096, "fair_value": 148.858971, "relative_strength": -10.930966, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -62.569474, "energy": 67.75007, "activity_lines": [ 149.428059, 151.431499, 155.268233, 158.213968 ] }, { "date": "2024-08-30", "close": 152.147339, "volume": 4614600, "typical_volume": 5607315.0, "trend": 161.073082, "fair_value": 148.91106, "relative_strength": -10.994345, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -60.380557, "energy": 49.414547, "activity_lines": [ 150.270608, 151.346658, 154.650946, 157.617274 ] }, { "date": "2024-09-06", "close": 150.718124, "volume": 7797100, "typical_volume": 5790460.0, "trend": 160.624617, "fair_value": 148.998605, "relative_strength": -9.572003, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -55.288399, "energy": 38.229113, "activity_lines": [ 150.688492, 151.024956, 153.976461, 156.949212 ] }, { "date": "2024-09-13", "close": 155.515381, "volume": 9346200, "typical_volume": 5946570.0, "trend": 160.271218, "fair_value": 149.11935, "relative_strength": -9.66527, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -38.200362, "energy": 21.535674, "activity_lines": [ 152.605276, 151.651466, 153.837861, 156.619584 ] }, { "date": "2024-09-20", "close": 153.039658, "volume": 9877200, "typical_volume": 6200920.0, "trend": 159.752106, "fair_value": 149.246198, "relative_strength": -12.059007, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -34.813808, "energy": 18.694499, "activity_lines": [ 153.05197, 151.801103, 153.500476, 156.153031 ] }, { "date": "2024-09-27", "close": 151.565826, "volume": 4350200, "typical_volume": 6229555.0, "trend": 159.215497, "fair_value": 149.348795, "relative_strength": -13.051922, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -35.69955, "energy": 19.291857, "activity_lines": [ 152.674499, 151.754, 153.061163, 155.624884 ] }, { "date": "2024-10-04", "close": 148.377289, "volume": 4546100, "typical_volume": 6171410.0, "trend": 158.641019, "fair_value": 149.449953, "relative_strength": -15.374337, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -49.205305, "energy": 26.187362, "activity_lines": [ 151.267841, 151.25742, 152.387424, 154.925645 ] }, { "date": "2024-10-11", "close": 153.579117, "volume": 3741300, "typical_volume": 6192470.0, "trend": 158.221183, "fair_value": 149.550417, "relative_strength": -13.313182, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -37.022236, "energy": 22.487868, "activity_lines": [ 151.846461, 151.789284, 152.288896, 154.599071 ] }, { "date": "2024-10-18", "close": 151.084167, "volume": 3639300, "typical_volume": 6066500.0, "trend": 157.559269, "fair_value": 149.542622, "relative_strength": -15.677127, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -48.924929, "energy": 27.845897, "activity_lines": [ 151.402699, 151.78818, 152.008508, 154.138618 ] }, { "date": "2024-10-25", "close": 148.589218, "volume": 5052900, "typical_volume": 5885570.0, "trend": 156.843112, "fair_value": 149.536436, "relative_strength": -15.575406, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -59.046912, "energy": 34.400373, "activity_lines": [ 150.422701, 151.238148, 151.558821, 153.559905 ] }, { "date": "2024-11-01", "close": 145.43924, "volume": 4746200, "typical_volume": 5810630.0, "trend": 156.087745, "fair_value": 149.504462, "relative_strength": -16.379382, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -69.144068, "energy": 48.727786, "activity_lines": [ 148.689406, 150.105523, 150.88138, 152.824172 ] }, { "date": "2024-11-08", "close": 148.492889, "volume": 4565200, "typical_volume": 5436465.0, "trend": 155.413509, "fair_value": 149.507508, "relative_strength": -16.045379, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -54.430671, "energy": 47.202177, "activity_lines": [ 148.382434, 149.648678, 150.565488, 152.334181 ] }, { "date": "2024-11-15", "close": 147.722244, "volume": 4544000, "typical_volume": 5411275.0, "trend": 154.760622, "fair_value": 149.500428, "relative_strength": -16.592487, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -55.574132, "energy": 49.492853, "activity_lines": [ 147.810873, 149.11816, 150.199627, 151.83797 ] }, { "date": "2024-11-22", "close": 149.735565, "volume": 5714500, "typical_volume": 5501920.0, "trend": 154.308971, "fair_value": 149.516919, "relative_strength": -16.958423, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -52.376326, "energy": 33.210812, "activity_lines": [ 148.300878, 149.008171, 150.059677, 151.513773 ] }, { "date": "2024-11-29", "close": 150.602524, "volume": 6282800, "typical_volume": 5450675.0, "trend": 153.958683, "fair_value": 149.524455, "relative_strength": -16.796606, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -37.214349, "energy": 19.914034, "activity_lines": [ 149.169775, 149.160899, 150.022814, 151.274647 ] }, { "date": "2024-12-06", "close": 145.814896, "volume": 9600700, "typical_volume": 5672040.0, "trend": 153.282265, "fair_value": 149.495589, "relative_strength": -19.183712, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -57.416153, "energy": 28.635937, "activity_lines": [ 148.308577, 148.487461, 149.560247, 150.749242 ] }, { "date": "2024-12-13", "close": 143.26236, "volume": 8962600, "typical_volume": 5797195.0, "trend": 152.553181, "fair_value": 149.453812, "relative_strength": -18.8928, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -64.703398, "energy": 36.184635, "activity_lines": [ 146.571489, 147.454487, 148.916081, 150.102796 ] }, { "date": "2024-12-20", "close": 140.79213, "volume": 7806500, "typical_volume": 5976150.0, "trend": 151.736671, "fair_value": 149.439843, "relative_strength": -17.695928, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -72.650097, "energy": 61.157646, "activity_lines": [ 144.359693, 146.065379, 148.082661, 149.344019 ] }, { "date": "2024-12-27", "close": 142.419586, "volume": 1751600, "typical_volume": 5844395.0, "trend": 150.969642, "fair_value": 149.443794, "relative_strength": -16.993109, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -63.340674, "energy": 66.807018, "activity_lines": [ 143.15239, 145.204663, 147.444347, 148.742917 ] }, { "date": "2025-01-03", "close": 143.543289, "volume": 3720100, "typical_volume": 5804210.0, "trend": 150.295741, "fair_value": 149.450737, "relative_strength": -16.823559, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -59.823021, "energy": 64.54246, "activity_lines": [ 142.807386, 144.705795, 146.929353, 148.263797 ] }, { "date": "2025-01-10", "close": 139.639389, "volume": 4956500, "typical_volume": 5780780.0, "trend": 149.607329, "fair_value": 149.439265, "relative_strength": -17.623552, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -70.470667, "energy": 67.022244, "activity_lines": [ 141.631699, 143.588871, 146.064002, 147.576291 ] }, { "date": "2025-01-17", "close": 142.332382, "volume": 4475100, "typical_volume": 5773805.0, "trend": 149.238005, "fair_value": 149.447571, "relative_strength": -16.568573, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -58.139376, "energy": 45.680043, "activity_lines": [ 141.765376, 143.067034, 145.514323, 147.106939 ] }, { "date": "2025-01-24", "close": 146.662521, "volume": 4290400, "typical_volume": 5598470.0, "trend": 148.963513, "fair_value": 149.492352, "relative_strength": -14.967607, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -51.678327, "energy": 31.24709, "activity_lines": [ 143.404431, 143.444503, 145.423776, 146.940779 ] }, { "date": "2025-01-31", "close": 147.069397, "volume": 4675800, "typical_volume": 5364950.0, "trend": 148.731009, "fair_value": 149.522249, "relative_strength": -14.482276, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -34.109225, "energy": 19.3919, "activity_lines": [ 144.787752, 143.915219, 145.391291, 146.818578 ] }, { "date": "2025-02-07", "close": 140.482178, "volume": 6485900, "typical_volume": 5195385.0, "trend": 148.181837, "fair_value": 149.514775, "relative_strength": -17.48285, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -47.764491, "energy": 23.21356, "activity_lines": [ 143.665346, 143.236733, 144.771672, 146.286395 ] }, { "date": "2025-02-14", "close": 139.532837, "volume": 6448200, "typical_volume": 5300285.0, "trend": 147.541934, "fair_value": 149.478283, "relative_strength": -17.616105, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -60.780955, "energy": 30.67537, "activity_lines": [ 142.430567, 142.569647, 144.121436, 145.728395 ] }, { "date": "2025-02-21", "close": 143.310806, "volume": 4534700, "typical_volume": 5299715.0, "trend": 147.221512, "fair_value": 149.471216, "relative_strength": -13.711129, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -47.712049, "energy": 29.109165, "activity_lines": [ 142.462215, 142.703683, 143.888307, 145.455419 ] }, { "date": "2025-02-28", "close": 142.09021, "volume": 6284500, "typical_volume": 5426875.0, "trend": 146.984008, "fair_value": 149.43737, "relative_strength": -14.73436, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -49.378486, "energy": 37.027893, "activity_lines": [ 142.021769, 142.614912, 143.563057, 145.124367 ] }, { "date": "2025-03-07", "close": 140.695282, "volume": 9454400, "typical_volume": 5717630.0, "trend": 146.81243, "fair_value": 149.393125, "relative_strength": -12.912992, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -53.171734, "energy": 35.521316, "activity_lines": [ 141.421168, 142.248916, 143.159666, 144.718643 ] }, { "date": "2025-03-14", "close": 136.745926, "volume": 10559300, "typical_volume": 5992950.0, "trend": 146.435748, "fair_value": 149.302758, "relative_strength": -14.134205, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -66.892552, "energy": 44.593061, "activity_lines": [ 139.929056, 141.196206, 142.429616, 144.069191 ] }, { "date": "2025-03-21", "close": 134.894058, "volume": 7429500, "typical_volume": 6127115.0, "trend": 145.863194, "fair_value": 149.169899, "relative_strength": -16.114988, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -71.22661, "energy": 61.425021, "activity_lines": [ 138.068738, 139.930382, 141.579595, 143.324566 ] }, { "date": "2025-03-28", "close": 135.985687, "volume": 5653900, "typical_volume": 6181550.0, "trend": 145.324473, "fair_value": 149.101577, "relative_strength": -14.162531, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -63.262685, "energy": 62.518438, "activity_lines": [ 136.881548, 138.949314, 140.883753, 142.687308 ] }, { "date": "2025-04-04", "close": 133.890152, "volume": 8825900, "typical_volume": 6395645.0, "trend": 144.76354, "fair_value": 149.040745, "relative_strength": -9.295486, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -68.262016, "energy": 66.842299, "activity_lines": [ 135.484188, 137.702634, 140.047895, 141.94961 ] }, { "date": "2025-04-11", "close": 135.020782, "volume": 9161200, "typical_volume": 6567980.0, "trend": 144.080387, "fair_value": 148.963358, "relative_strength": -9.517257, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -60.858737, "energy": 58.566856, "activity_lines": [ 135.010375, 136.893748, 139.385583, 141.321045 ] }, { "date": "2025-04-18", "close": 133.831665, "volume": 4273200, "typical_volume": 6467500.0, "trend": 143.44012, "fair_value": 148.89933, "relative_strength": -11.98432, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -62.710242, "energy": 47.405455, "activity_lines": [ 134.518489, 136.087725, 138.680092, 140.659837 ] }, { "date": "2025-04-25", "close": 131.209824, "volume": 5020800, "typical_volume": 6238505.0, "trend": 142.761587, "fair_value": 148.852467, "relative_strength": -14.964187, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -69.707996, "energy": 52.497259, "activity_lines": [ 133.346941, 134.925922, 137.804763, 139.870785 ] }, { "date": "2025-05-02", "close": 136.434036, "volume": 7339700, "typical_volume": 6157360.0, "trend": 142.363479, "fair_value": 148.846086, "relative_strength": -12.201201, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -56.074623, "energy": 37.982841, "activity_lines": [ 134.162412, 134.865304, 137.496526, 139.462556 ] }, { "date": "2025-05-09", "close": 136.424286, "volume": 5500500, "typical_volume": 6042060.0, "trend": 141.791651, "fair_value": 148.880608, "relative_strength": -12.778669, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -43.150427, "energy": 29.038419, "activity_lines": [ 134.944744, 134.927944, 137.219876, 139.079382 ] }, { "date": "2025-05-16", "close": 147.165146, "volume": 9152700, "typical_volume": 6412115.0, "trend": 141.661017, "fair_value": 148.982101, "relative_strength": -7.651747, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -5.855307, "energy": 9.38084, "activity_lines": [ 139.13842, 137.046485, 137.986965, 139.42606 ] }, { "date": "2025-05-23", "close": 140.556885, "volume": 4435100, "typical_volume": 6447865.0, "trend": 141.393272, "fair_value": 149.030243, "relative_strength": -10.934296, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -20.295553, "energy": 20.55142, "activity_lines": [ 140.319718, 137.845891, 138.102098, 139.354825 ] }, { "date": "2025-05-30", "close": 140.605621, "volume": 6706900, "typical_volume": 6535385.0, "trend": 141.232152, "fair_value": 149.06371, "relative_strength": -11.332706, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -8.065572, "energy": 18.555692, "activity_lines": [ 141.068913, 138.584867, 138.236093, 139.304009 ] }, { "date": "2025-06-06", "close": 140.108521, "volume": 8997400, "typical_volume": 6761500.0, "trend": 140.952673, "fair_value": 149.132143, "relative_strength": -11.896839, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 12.484196, "energy": 20.947079, "activity_lines": [ 141.026021, 139.129615, 138.318144, 139.231517 ] }, { "date": "2025-06-13", "close": 138.370682, "volume": 9067700, "typical_volume": 7000365.0, "trend": 140.640954, "fair_value": 149.186896, "relative_strength": -12.626164, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -10.174728, "energy": 10.461463, "activity_lines": [ 140.158885, 139.283431, 138.245276, 139.064937 ] }, { "date": "2025-06-20", "close": 137.350739, "volume": 6556000, "typical_volume": 7094375.0, "trend": 140.228127, "fair_value": 149.200496, "relative_strength": -12.704638, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -27.609528, "energy": 12.056944, "activity_lines": [ 138.822008, 139.170339, 138.114756, 138.852665 ] }, { "date": "2025-06-27", "close": 138.919891, "volume": 7737800, "typical_volume": 7156970.0, "trend": 139.838705, "fair_value": 149.235732, "relative_strength": -11.815513, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -26.852269, "energy": 13.948851, "activity_lines": [ 138.662475, 139.300185, 138.179959, 138.768262 ] }, { "date": "2025-07-04", "close": 141.342285, "volume": 4636200, "typical_volume": 7066370.0, "trend": 139.689618, "fair_value": 149.278995, "relative_strength": -10.95707, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -0.223852, "energy": 3.650967, "activity_lines": [ 139.419539, 139.777952, 138.483305, 138.865268 ] }, { "date": "2025-07-11", "close": 141.155945, "volume": 5646700, "typical_volume": 7121970.0, "trend": 139.619405, "fair_value": 149.325079, "relative_strength": -10.485217, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 10.739834, "energy": 7.367827, "activity_lines": [ 140.06538, 140.037613, 138.760288, 138.959869 ] }, { "date": "2025-07-18", "close": 133.97702, "volume": 5475200, "typical_volume": 7081505.0, "trend": 139.392234, "fair_value": 149.302167, "relative_strength": -15.358914, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -43.548567, "energy": 17.396894, "activity_lines": [ 138.248417, 138.906162, 138.363825, 138.595844 ] }, { "date": "2025-07-25", "close": 128.867432, "volume": 7966000, "typical_volume": 7007085.0, "trend": 138.940496, "fair_value": 149.169947, "relative_strength": -18.576459, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -67.460343, "energy": 48.545841, "activity_lines": [ 135.021169, 136.890191, 137.519369, 137.916825 ] }, { "date": "2025-08-01", "close": 125.572189, "volume": 6213700, "typical_volume": 6789805.0, "trend": 138.341459, "fair_value": 149.004198, "relative_strength": -18.70566, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -75.912199, "energy": 72.41919, "activity_lines": [ 131.261061, 134.607771, 136.417403, 137.054354 ] }, { "date": "2025-08-08", "close": 124.875885, "volume": 6548400, "typical_volume": 6745750.0, "trend": 137.849342, "fair_value": 148.83753, "relative_strength": -20.763383, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -74.957576, "energy": 81.335872, "activity_lines": [ 128.158697, 132.471198, 135.302331, 136.185607 ] }, { "date": "2025-08-15", "close": 126.435234, "volume": 9342400, "typical_volume": 6930175.0, "trend": 137.319437, "fair_value": 148.674951, "relative_strength": -19.681599, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -66.791555, "energy": 82.950888, "activity_lines": [ 126.673877, 130.904139, 134.383474, 135.449213 ] }, { "date": "2025-08-22", "close": 130.024689, "volume": 8754800, "typical_volume": 6926620.0, "trend": 136.764843, "fair_value": 148.557473, "relative_strength": -18.105955, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -66.000777, "energy": 79.14928, "activity_lines": [ 127.366923, 130.238314, 133.851948, 134.978584 ] }, { "date": "2025-08-29", "close": 130.387558, "volume": 10661100, "typical_volume": 7001615.0, "trend": 136.208782, "fair_value": 148.485029, "relative_strength": -17.993239, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -61.648266, "energy": 60.178978, "activity_lines": [ 128.444414, 129.790209, 133.373388, 134.567146 ] }, { "date": "2025-09-05", "close": 131.181961, "volume": 9099700, "typical_volume": 7242940.0, "trend": 135.898774, "fair_value": 148.382916, "relative_strength": -18.281218, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -46.351166, "energy": 33.614579, "activity_lines": [ 129.685364, 129.613145, 132.992548, 134.242835 ] }, { "date": "2025-09-12", "close": 127.744247, "volume": 15168200, "typical_volume": 7750310.0, "trend": 135.505821, "fair_value": 148.284111, "relative_strength": -20.43727, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -49.931316, "energy": 30.77378, "activity_lines": [ 129.406424, 128.951732, 132.296925, 133.716737 ] }, { "date": "2025-09-19", "close": 127.023537, "volume": 10637100, "typical_volume": 7915180.0, "trend": 134.962912, "fair_value": 148.20229, "relative_strength": -21.584076, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -51.817282, "energy": 33.716662, "activity_lines": [ 128.696024, 128.406518, 131.549165, 133.169492 ] }, { "date": "2025-09-26", "close": 127.734383, "volume": 11524300, "typical_volume": 8216370.0, "trend": 134.484385, "fair_value": 148.135652, "relative_strength": -20.555179, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -57.229536, "energy": 37.647986, "activity_lines": [ 128.183352, 128.247501, 130.913917, 132.703136 ] }, { "date": "2025-10-03", "close": 132.779388, "volume": 6140900, "typical_volume": 8065780.0, "trend": 134.220522, "fair_value": 148.09144, "relative_strength": -18.827434, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -39.87706, "energy": 27.10434, "activity_lines": [ 129.505036, 129.11926, 130.800526, 132.593136 ] }, { "date": "2025-10-10", "close": 130.558014, "volume": 7478600, "typical_volume": 8217955.0, "trend": 134.014258, "fair_value": 148.046344, "relative_strength": -17.966538, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -37.384604, "energy": 21.612924, "activity_lines": [ 129.926806, 129.516007, 130.54408, 132.356845 ] }, { "date": "2025-10-17", "close": 132.344971, "volume": 7059400, "typical_volume": 8235580.0, "trend": 133.929289, "fair_value": 147.980888, "relative_strength": -17.04926, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -29.372171, "energy": 17.935204, "activity_lines": [ 130.985825, 130.147004, 130.505433, 132.249149 ] }, { "date": "2025-10-24", "close": 131.732864, "volume": 5121500, "typical_volume": 8041785.0, "trend": 133.787528, "fair_value": 147.86355, "relative_strength": -17.579664, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -15.17874, "energy": 16.99433, "activity_lines": [ 131.534094, 130.530907, 130.447827, 132.107444 ] }, { "date": "2025-10-31", "close": 132.779388, "volume": 7476800, "typical_volume": 7962240.0, "trend": 133.750502, "fair_value": 147.761053, "relative_strength": -16.178872, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -7.716817, "energy": 11.930898, "activity_lines": [ 132.117248, 131.008766, 130.529774, 132.042403 ] }, { "date": "2025-11-07", "close": 131.614395, "volume": 6141800, "typical_volume": 7941530.0, "trend": 133.636956, "fair_value": 147.643371, "relative_strength": -15.450131, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -9.909518, "energy": 11.625919, "activity_lines": [ 131.975738, 131.224723, 130.527394, 131.90459 ] }, { "date": "2025-11-14", "close": 133.095322, "volume": 5999700, "typical_volume": 7854625.0, "trend": 133.612411, "fair_value": 147.508355, "relative_strength": -15.182244, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -5.492536, "energy": 9.498443, "activity_lines": [ 132.405537, 131.687634, 130.693371, 131.869646 ] }, { "date": "2025-11-21", "close": 129.442383, "volume": 6260700, "typical_volume": 7935850.0, "trend": 133.553497, "fair_value": 147.334015, "relative_strength": -16.562672, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -28.09632, "energy": 12.468442, "activity_lines": [ 131.448535, 131.451585, 130.539185, 131.600611 ] }, { "date": "2025-11-28", "close": 132.127777, "volume": 7915300, "typical_volume": 8049280.0, "trend": 133.409955, "fair_value": 147.159854, "relative_strength": -17.636603, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -20.374943, "energy": 9.238551, "activity_lines": [ 131.580171, 131.672914, 130.697417, 131.50863 ] }, { "date": "2025-12-05", "close": 134.052979, "volume": 9470200, "typical_volume": 8249030.0, "trend": 133.330911, "fair_value": 147.005569, "relative_strength": -15.804321, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -1.930612, "energy": 4.943042, "activity_lines": [ 132.327213, 132.151476, 131.081993, 131.550115 ] }, { "date": "2025-12-12", "close": 133.869385, "volume": 11412700, "typical_volume": 8421365.0, "trend": 132.887719, "fair_value": 146.871446, "relative_strength": -16.044121, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 14.165749, "energy": 10.357611, "activity_lines": [ 132.928151, 132.481774, 131.448722, 131.584855 ] }, { "date": "2025-12-19", "close": 134.644516, "volume": 9439600, "typical_volume": 8582660.0, "trend": 132.69064, "fair_value": 146.758804, "relative_strength": -15.689801, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 28.012757, "energy": 27.642199, "activity_lines": [ 133.637133, 132.933186, 131.865454, 131.698197 ] }, { "date": "2025-12-26", "close": 134.10788, "volume": 2936400, "typical_volume": 8402060.0, "trend": 132.474049, "fair_value": 146.659711, "relative_strength": -16.168401, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 24.424227, "energy": 31.646064, "activity_lines": [ 134.063957, 133.212728, 132.187877, 131.789632 ] }, { "date": "2026-01-02", "close": 136.920227, "volume": 3691200, "typical_volume": 8119500.0, "trend": 132.367772, "fair_value": 146.557186, "relative_strength": -13.622597, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 38.046254, "energy": 42.932906, "activity_lines": [ 135.117197, 133.971554, 132.73418, 132.076482 ] }, { "date": "2026-01-09", "close": 136.830795, "volume": 6420900, "typical_volume": 8002805.0, "trend": 132.316443, "fair_value": 146.446935, "relative_strength": -15.136416, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 61.924774, "energy": 52.491724, "activity_lines": [ 135.821129, 134.619803, 133.222037, 132.364419 ] }, { "date": "2026-01-16", "close": 138.410858, "volume": 5898800, "typical_volume": 7764690.0, "trend": 132.35178, "fair_value": 146.350508, "relative_strength": -14.774132, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 66.219531, "energy": 57.571987, "activity_lines": [ 136.866562, 135.481674, 133.827967, 132.757607 ] }, { "date": "2026-01-23", "close": 135.926468, "volume": 4763100, "typical_volume": 7547860.0, "trend": 132.251999, "fair_value": 146.282923, "relative_strength": -16.022888, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 56.609478, "energy": 48.916843, "activity_lines": [ 136.781099, 135.768266, 134.159082, 132.988232 ] }, { "date": "2026-01-30", "close": 130.172607, "volume": 8933300, "typical_volume": 7236115.0, "trend": 131.879677, "fair_value": 146.159677, "relative_strength": -15.943608, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 25.399938, "energy": 16.652145, "activity_lines": [ 134.69222, 134.957226, 133.919617, 132.854078 ] }, { "date": "2026-02-06", "close": 137.685425, "volume": 9729400, "typical_volume": 7190730.0, "trend": 131.763993, "fair_value": 146.08912, "relative_strength": -12.145228, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 47.825221, "energy": 24.103587, "activity_lines": [ 135.369965, 135.498876, 134.384095, 133.228642 ] }, { "date": "2026-02-13", "close": 145.506317, "volume": 10677500, "typical_volume": 7148390.0, "trend": 132.148302, "fair_value": 146.084672, "relative_strength": -8.454265, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 75.808466, "energy": 42.365517, "activity_lines": [ 138.60366, 137.361458, 135.542649, 134.115244 ] }, { "date": "2026-02-20", "close": 150.246552, "volume": 7253800, "typical_volume": 7204035.0, "trend": 132.86094, "fair_value": 146.113353, "relative_strength": -7.084014, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 83.654688, "energy": 75.677808, "activity_lines": [ 142.839066, 139.877659, 137.068025, 135.282873 ] }, { "date": "2026-02-27", "close": 152.114822, "volume": 14418400, "typical_volume": 7551025.0, "trend": 133.745694, "fair_value": 146.121761, "relative_strength": -6.923546, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 83.593769, "energy": 89.011787, "activity_lines": [ 146.908182, 142.435779, 138.688155, 136.525059 ] }, { "date": "2026-03-06", "close": 144.224365, "volume": 13160800, "typical_volume": 7856095.0, "trend": 134.390644, "fair_value": 146.089592, "relative_strength": -7.908073, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 63.724226, "energy": 80.373597, "activity_lines": [ 147.267922, 143.241628, 139.454162, 137.201102 ] }, { "date": "2026-03-13", "close": 144.009995, "volume": 12674200, "typical_volume": 8233730.0, "trend": 134.976469, "fair_value": 146.064496, "relative_strength": -6.077483, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 63.457015, "energy": 73.734099, "activity_lines": [ 146.619421, 143.824564, 140.143183, 137.821705 ] }, { "date": "2026-03-20", "close": 135.449997, "volume": 10406300, "typical_volume": 8380205.0, "trend": 135.157313, "fair_value": 145.997646, "relative_strength": -7.80074, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 34.282137, "energy": 27.779592, "activity_lines": [ 142.69595, 142.722233, 139.958505, 137.852255 ] }, { "date": "2026-03-27", "close": 140.820007, "volume": 8712400, "typical_volume": 8508735.0, "trend": 135.505061, "fair_value": 145.945092, "relative_strength": -5.654633, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 33.736999, "energy": 19.982261, "activity_lines": [ 141.232904, 142.621372, 140.272539, 138.217591 ] }, { "date": "2026-04-03", "close": 144.929993, "volume": 6447800, "typical_volume": 8531140.0, "trend": 135.963329, "fair_value": 145.916668, "relative_strength": -5.72476, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 39.284507, "energy": 21.959187, "activity_lines": [ 141.768289, 143.223979, 140.934163, 138.825651 ] }, { "date": "2026-04-10", "close": 151.434158, "volume": 8191300, "typical_volume": 8627670.0, "trend": 136.752992, "fair_value": 145.907594, "relative_strength": -2.716075, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 66.16185, "energy": 32.962552, "activity_lines": [ 144.950718, 144.845461, 142.158877, 139.823769 ] }, { "date": "2026-04-17", "close": 150.340134, "volume": 4700600, "typical_volume": 8466935.0, "trend": 137.530212, "fair_value": 145.873777, "relative_strength": -4.790434, "stage": 2, "regime": "deceleration", "modifier": "Re-acceleration watch", "gate": "up", "direction": 64.25178, "energy": 49.90831, "activity_lines": [ 147.287819, 145.881456, 143.174674, 140.700359 ] }, { "date": "2026-04-24", "close": 155.860031, "volume": 5092000, "typical_volume": 8248025.0, "trend": 138.467734, "fair_value": 145.905473, "relative_strength": 0.291693, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 74.078931, "energy": 71.889504, "activity_lines": [ 151.042877, 147.690982, 144.629451, 141.882928 ] }, { "date": "2026-05-01", "close": 151.364548, "volume": 6554200, "typical_volume": 8005100.0, "trend": 139.087239, "fair_value": 145.898948, "relative_strength": -2.159908, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 60.749623, "energy": 66.305917, "activity_lines": [ 151.938772, 148.494899, 145.552244, 142.71498 ] }, { "date": "2026-05-08", "close": 151.881729, "volume": 5866200, "typical_volume": 7826430.0, "trend": 139.79803, "fair_value": 145.893702, "relative_strength": -1.982014, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 59.996718, "energy": 62.889438, "activity_lines": [ 152.30409, 149.372522, 146.440981, 143.540431 ] }, { "date": "2026-05-15", "close": 153.075226, "volume": 9526100, "typical_volume": 8155915.0, "trend": 140.489038, "fair_value": 145.908206, "relative_strength": -0.015278, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 61.175223, "energy": 56.02369, "activity_lines": [ 152.603792, 150.471382, 147.361303, 144.397024 ] }, { "date": "2026-05-22", "close": 156.934158, "volume": 6858100, "typical_volume": 8314260.0, "trend": 141.329081, "fair_value": 145.984766, "relative_strength": 0.985127, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 68.362859, "energy": 48.28761, "activity_lines": [ 154.080401, 152.110941, 148.558822, 145.458 ] }, { "date": "2026-05-29", "close": 162.364563, "volume": 8773200, "typical_volume": 8431875.0, "trend": 142.315254, "fair_value": 146.079244, "relative_strength": 3.896034, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 76.986351, "energy": 62.649068, "activity_lines": [ 156.927542, 154.502862, 150.178218, 146.815128 ] }, { "date": "2026-06-05", "close": 167.029129, "volume": 1253200, "typical_volume": 8199595.0, "trend": 143.495745, "fair_value": 146.232343, "relative_strength": 8.192527, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 82.178721, "energy": 81.893032, "activity_lines": [ 160.895903, 157.25353, 152.120268, 148.409571 ] }, { "date": "2026-06-12", "close": 166.470001, "volume": 2288400, "typical_volume": 8075860.0, "trend": 144.608234, "fair_value": 146.354284, "relative_strength": 6.419874, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 76.379626, "energy": 85.920408, "activity_lines": [ 163.633583, 159.426009, 153.872791, 149.891781 ] }, { "date": "2026-06-19", "close": 159.729996, "volume": 1916500, "typical_volume": 7725020.0, "trend": 145.617821, "fair_value": 146.443074, "relative_strength": 2.291176, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 66.338053, "energy": 80.206504, "activity_lines": [ 163.152044, 159.981396, 154.837963, 150.867379 ] }, { "date": "2026-06-26", "close": 171.0, "volume": 1563100, "typical_volume": 7316705.0, "trend": 146.913562, "fair_value": 146.573403, "relative_strength": 9.622914, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 82.279406, "energy": 85.233424, "activity_lines": [ 165.983521, 162.435041, 156.73572, 152.504939 ] }, { "date": "2026-07-03", "close": 172.429993, "volume": 493400, "typical_volume": 6807500.0, "trend": 148.192796, "fair_value": 146.754441, "relative_strength": 9.859135, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 80.144684, "energy": 81.859562, "activity_lines": [ 168.353939, 164.773051, 158.611025, 154.15116 ] }, { "date": "2026-07-10", "close": 176.190002, "volume": 4949200, "typical_volume": 6692270.0, "trend": 149.603483, "fair_value": 146.941639, "relative_strength": 12.183204, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 83.620682, "energy": 85.687443, "activity_lines": [ 171.306665, 167.493427, 160.716219, 155.957431 ] }, { "date": "2026-07-17", "close": 180.940002, "volume": 6034100, "typical_volume": 6273055.0, "trend": 151.146666, "fair_value": 147.158022, "relative_strength": 15.230314, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 86.084509, "energy": 92.145437, "activity_lines": [ 175.232, 170.626067, 163.150253, 157.979142 ] }, { "date": "2026-07-24", "close": 182.910004, "volume": 6298700, "typical_volume": 5929950.0, "trend": 152.773403, "fair_value": 147.367767, "relative_strength": 15.895953, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 81.794282, "energy": 91.587487, "activity_lines": [ 178.849335, 173.588558, 165.634644, 160.02839 ] }, { "date": "2026-07-31", "close": 178.25, "volume": 7385300, "typical_volume": 5665505.0, "trend": 154.151062, "fair_value": 147.568472, "relative_strength": 13.200342, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 67.911027, "energy": 85.421345, "activity_lines": [ 179.368001, 175.161324, 167.491007, 161.672041 ] }, { "date": "2026-08-07", "close": 176.520004, "volume": 6218400, "typical_volume": 5456110.0, "trend": 155.474036, "fair_value": 147.753391, "relative_strength": 8.377727, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 66.025239, "energy": 69.662062, "activity_lines": [ 178.826669, 176.031985, 169.019561, 163.115199 ] } ], "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." } } }