{ "ticker": { "uuid": "5a433fcb-611f-43f4-80dc-4d870bf9bd9f", "symbol": "FMG", "name": "Fortescue Ltd", "exchange": "ASX", "country": "AU", "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": "^AXJO", "stage": 4, "stage_name": "Declining", "phase": "4a", "phase_label": "Stage 4A \u00b7 Breakdown", "transition": "stage_4_declining", "transition_label": "Stage 4 decline intact", "confidence": 96.0, "architecture_regime": "downward_expansion", "architecture_regime_label": "Downward Expansion", "architecture_modifier": "Early contraction", "architecture_gate": "down", "architecture_direction": -71.11, "architecture_energy": 55.971, "architecture_maturity": 18.282, "architecture_confidence": 83.808, "architecture_tenure": "Developing", "architecture": { "interpretation": { "headline": "The weekly architecture is expanding downward.", "body": "Trend and Activity show sustained negative alignment with weak price acceptance. Repair requires persistent improvement across the structure, not merely one strong observation." }, "scores": { "balance": 13.73, "rotation_up": 14.89, "upward_expansion": 8.75, "deceleration": 46.11, "rotation_down": 68.2, "downward_expansion": 84.42 }, "activity_lines": [ 18.404, 18.664364, 19.532286, 19.780826 ], "activity_state": "Moderate", "activity_direction": "Expanding", "rotation_direction": "Weakening", "price_acceptance": -0.833333 }, "latest_close": 18.02, "trend_reference": 20.101052, "distance_from_trend": -0.103529, "trend_direction": "Weakening", "fair_value": 18.911057, "distance_from_fair_value": -0.047118, "fair_value_direction": "Weakening", "relative_strength": -14.315203, "relative_strength_direction": "Weakening", "price_momentum": -0.125555, "excess_performance": -0.189261, "evidence": [ { "label": "Price vs Trend", "positive": false, "value": -0.103529, "read": "Below" }, { "label": "Trend direction", "positive": false, "value": -0.030854, "read": "Falling" }, { "label": "Price vs current Fair Value", "positive": false, "value": -0.047118, "read": "Below anchor" }, { "label": "Fair Value direction", "positive": false, "value": -0.18592, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.143152, "read": "Lagging" }, { "label": "Relative strength direction", "positive": false, "value": -0.267859, "read": "Weakening" }, { "label": "Price momentum", "positive": false, "value": -0.125555, "read": "Negative" }, { "label": "Volume balance", "positive": false, "value": 0.599319, "read": "Supply-led" } ], "volume": { "latest": 38308164, "relative_activity": 1.725194, "balance": 0.599319, "dry_up": 1.244982, "accumulation_observations": 3, "distribution_observations": 4 }, "risk": { "range_context": 0.060702, "annualized_volatility": 0.327533, "from_high_reference": -0.220925, "from_low_reference": 0.025661 }, "levels": { "trend_reference": 20.101052, "fair_value_reference": 18.911057, "structural_low": 17.65, "invalidation": "Reclaiming a flat-to-rising Trend with improving relative strength is required before the declining diagnosis is repaired." }, "outcomes": [ { "horizon": "Near term", "sample_count": 17, "median_return": 0.062661, "positive_rate": 0.588235, "directional_follow_through": 0.411765, "median_excess_return": 0.04198, "regime_survival": 0.705882, "best_return": 0.240076, "worst_return": -0.197965, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 7, "median_return": 0.032331, "positive_rate": 0.571429, "directional_follow_through": 0.428571, "median_excess_return": 0.049689, "regime_survival": 0.285714, "best_return": 0.383113, "worst_return": -0.144937, "sufficient": true }, { "horizon": "Extended", "sample_count": 4, "median_return": 0.293522, "positive_rate": 0.75, "directional_follow_through": 0.25, "median_excess_return": 0.191779, "regime_survival": 0.0, "best_return": 0.515508, "worst_return": -0.117292, "sufficient": false }, { "horizon": "Full cycle", "sample_count": 4, "median_return": 0.36575, "positive_rate": 0.75, "directional_follow_through": 0.25, "median_excess_return": 0.396246, "regime_survival": 0.25, "best_return": 0.592848, "worst_return": -0.267149, "sufficient": false } ], "ledger": [ { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2023-07-21", "end": "2023-07-28", "tenure": "New", "return": -0.038154, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2023-08-04", "end": "2023-10-13", "tenure": "Developing", "return": 0.055747, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2023-10-20", "end": "2024-03-01", "tenure": "Established", "return": 0.275391, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2024-03-08", "end": "2024-05-24", "tenure": "Developing", "return": 0.031202, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2024-05-31", "end": "2024-06-14", "tenure": "New", "return": -0.062247, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2024-06-21", "end": "2024-10-18", "tenure": "Established", "return": -0.052301, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2024-10-25", "end": "2025-03-14", "tenure": "Established", "return": -0.118726, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-03-21", "end": "2025-07-11", "tenure": "Established", "return": 0.075364, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-07-18", "end": "2025-07-25", "tenure": "New", "return": 0.079412, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2025-08-01", "end": "2025-08-22", "tenure": "New", "return": 0.084538, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-08-29", "end": "2026-01-30", "tenure": "Established", "return": 0.122995, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2026-02-06", "end": "2026-04-10", "tenure": "Developing", "return": -0.016856, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-04-17", "end": "2026-07-03", "tenure": "Developing", "return": -0.135186, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2026-07-10", "end": "2026-08-07", "tenure": "Developing", "return": -0.024364, "active": true } ], "chart_path": [ { "date": "2023-08-18", "close": 16.125549, "volume": 33801894, "typical_volume": 28376449.15, "trend": 16.943208, "fair_value": 13.763002, "relative_strength": 1.916685, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -18.483379, "energy": 18.75023, "activity_lines": [ 16.695059, 17.059639, 16.921912, 16.917783 ] }, { "date": "2023-08-25", "close": 16.601465, "volume": 30427219, "typical_volume": 29002744.8, "trend": 16.921836, "fair_value": 13.803699, "relative_strength": 5.099539, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -10.446149, "energy": 17.986638, "activity_lines": [ 16.573966, 16.941382, 16.898117, 16.895735 ] }, { "date": "2023-09-01", "close": 16.101753, "volume": 64374426, "typical_volume": 31132921.6, "trend": 16.897607, "fair_value": 13.84248, "relative_strength": -0.707004, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -57.884206, "energy": 40.827138, "activity_lines": [ 16.371438, 16.755054, 16.829147, 16.842827 ] }, { "date": "2023-09-08", "close": 16.185184, "volume": 40889426, "typical_volume": 31650245.95, "trend": 16.874881, "fair_value": 13.882457, "relative_strength": 1.257763, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -56.130368, "energy": 44.874369, "activity_lines": [ 16.269694, 16.599903, 16.776168, 16.796864 ] }, { "date": "2023-09-15", "close": 17.703585, "volume": 39168543, "typical_volume": 32234199.65, "trend": 16.896125, "fair_value": 13.935662, "relative_strength": 8.496819, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -17.718144, "energy": 10.230579, "activity_lines": [ 16.72616, 16.746422, 16.871896, 16.850329 ] }, { "date": "2023-09-22", "close": 17.361528, "volume": 29318856, "typical_volume": 32267556.35, "trend": 16.901366, "fair_value": 13.988439, "relative_strength": 9.094949, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 7.749421, "energy": 6.39641, "activity_lines": [ 16.998834, 16.821381, 16.929837, 16.880355 ] }, { "date": "2023-09-29", "close": 17.4533, "volume": 21711210, "typical_volume": 31986712.6, "trend": 16.881376, "fair_value": 14.04118, "relative_strength": 9.532788, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 39.620971, "energy": 24.840923, "activity_lines": [ 17.219699, 16.926032, 16.990331, 16.915963 ] }, { "date": "2023-10-06", "close": 17.570101, "volume": 16865957, "typical_volume": 31719330.05, "trend": 16.898329, "fair_value": 14.091469, "relative_strength": 11.2288, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 52.491391, "energy": 35.712285, "activity_lines": [ 17.42271, 17.059649, 17.054757, 16.960397 ] }, { "date": "2023-10-13", "close": 17.912159, "volume": 18258473, "typical_volume": 31190413.75, "trend": 16.929063, "fair_value": 14.145128, "relative_strength": 11.272716, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 60.18082, "energy": 55.079593, "activity_lines": [ 17.641849, 17.248664, 17.145598, 17.025806 ] }, { "date": "2023-10-20", "close": 17.845415, "volume": 24606743, "typical_volume": 30576332.15, "trend": 16.986657, "fair_value": 14.198029, "relative_strength": 12.601612, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 59.942994, "energy": 54.825115, "activity_lines": [ 17.723609, 17.408346, 17.218894, 17.084925 ] }, { "date": "2023-10-27", "close": 18.562904, "volume": 22658854, "typical_volume": 30049824.35, "trend": 17.010792, "fair_value": 14.253138, "relative_strength": 17.361765, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 73.149321, "energy": 65.864958, "activity_lines": [ 18.035077, 17.676874, 17.349915, 17.186618 ] }, { "date": "2023-11-03", "close": 19.380507, "volume": 26392003, "typical_volume": 29277392.3, "trend": 17.086506, "fair_value": 14.316503, "relative_strength": 18.875693, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 82.025698, "energy": 76.290471, "activity_lines": [ 18.538988, 18.049741, 17.548934, 17.339503 ] }, { "date": "2023-11-10", "close": 19.814335, "volume": 19691925, "typical_volume": 28989843.15, "trend": 17.153942, "fair_value": 14.382503, "relative_strength": 20.634983, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 82.208046, "energy": 81.486826, "activity_lines": [ 19.059027, 18.450957, 17.782004, 17.515492 ] }, { "date": "2023-11-17", "close": 21.040737, "volume": 32501613, "typical_volume": 29343698.25, "trend": 17.287111, "fair_value": 14.45504, "relative_strength": 25.907849, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 90.024325, "energy": 91.473764, "activity_lines": [ 19.838251, 19.007655, 18.118388, 17.766253 ] }, { "date": "2023-11-24", "close": 20.882223, "volume": 20667295, "typical_volume": 29248288.2, "trend": 17.429539, "fair_value": 14.520603, "relative_strength": 24.139502, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 79.769882, "energy": 90.012346, "activity_lines": [ 20.356066, 19.447248, 18.423257, 17.998196 ] }, { "date": "2023-12-01", "close": 21.024054, "volume": 23513269, "typical_volume": 29005386.5, "trend": 17.594938, "fair_value": 14.579572, "relative_strength": 23.509544, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 75.969537, "energy": 89.886257, "activity_lines": [ 20.718703, 19.854836, 18.724044, 18.2301 ] }, { "date": "2023-12-08", "close": 21.48291, "volume": 21778854, "typical_volume": 28864790.4, "trend": 17.779597, "fair_value": 14.632877, "relative_strength": 23.368204, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 78.277995, "energy": 90.290034, "activity_lines": [ 21.070216, 20.279261, 19.054498, 18.480937 ] }, { "date": "2023-12-15", "close": 23.234915, "volume": 38186994, "typical_volume": 28854440.4, "trend": 18.011553, "fair_value": 14.697559, "relative_strength": 28.007432, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 92.332235, "energy": 94.899301, "activity_lines": [ 21.865571, 20.948967, 19.534645, 18.832893 ] }, { "date": "2023-12-22", "close": 23.652058, "volume": 28663091, "typical_volume": 28786736.25, "trend": 18.281208, "fair_value": 14.762305, "relative_strength": 28.337147, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 90.030967, "energy": 95.328449, "activity_lines": [ 22.571934, 21.59152, 20.025765, 19.196797 ] }, { "date": "2023-12-29", "close": 24.211031, "volume": 8999080, "typical_volume": 28123786.25, "trend": 18.567646, "fair_value": 14.831332, "relative_strength": 28.862612, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 88.228012, "energy": 95.217345, "activity_lines": [ 23.290534, 22.231342, 20.538284, 19.579366 ] }, { "date": "2024-01-05", "close": 23.518572, "volume": 14464167, "typical_volume": 27156899.9, "trend": 18.801918, "fair_value": 14.888895, "relative_strength": 26.103331, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 68.380441, "energy": 87.728559, "activity_lines": [ 23.556393, 22.629525, 20.948883, 19.89878 ] }, { "date": "2024-01-12", "close": 22.834455, "volume": 22226518, "typical_volume": 26746864.85, "trend": 18.967909, "fair_value": 14.942662, "relative_strength": 21.664977, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 66.54759, "energy": 72.805016, "activity_lines": [ 23.427912, 22.81322, 21.259122, 20.158944 ] }, { "date": "2024-01-19", "close": 23.009655, "volume": 22584742, "typical_volume": 24657380.65, "trend": 19.168825, "fair_value": 15.000715, "relative_strength": 23.138514, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 64.073704, "energy": 63.87075, "activity_lines": [ 23.267729, 22.96597, 21.556367, 20.419702 ] }, { "date": "2024-01-26", "close": 24.169319, "volume": 17232783, "typical_volume": 23474548.5, "trend": 19.388037, "fair_value": 15.075506, "relative_strength": 26.181696, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 75.92668, "energy": 65.690403, "activity_lines": [ 23.509117, 23.271471, 21.931161, 20.742314 ] }, { "date": "2024-02-02", "close": 24.803377, "volume": 25757699, "typical_volume": 22804006.3, "trend": 19.641869, "fair_value": 15.149066, "relative_strength": 26.118293, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 79.930836, "energy": 67.651911, "activity_lines": [ 23.927374, 23.635373, 22.328322, 21.091691 ] }, { "date": "2024-02-09", "close": 23.576973, "volume": 23264592, "typical_volume": 22501293.1, "trend": 19.825208, "fair_value": 15.212558, "relative_strength": 20.002199, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 61.335072, "energy": 59.726118, "activity_lines": [ 23.89734, 23.704998, 22.574874, 21.345569 ] }, { "date": "2024-02-16", "close": 23.693771, "volume": 22969056, "typical_volume": 22564185.4, "trend": 20.01905, "fair_value": 15.276283, "relative_strength": 19.693628, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 61.20999, "energy": 58.455665, "activity_lines": [ 23.902345, 23.749442, 22.802952, 21.595154 ] }, { "date": "2024-02-23", "close": 23.535257, "volume": 29338067, "typical_volume": 23187790.9, "trend": 20.230347, "fair_value": 15.338477, "relative_strength": 18.482791, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 58.903928, "energy": 51.247733, "activity_lines": [ 23.797224, 23.724869, 22.986217, 21.822006 ] }, { "date": "2024-03-01", "close": 22.759874, "volume": 43460718, "typical_volume": 24447903.15, "trend": 20.423465, "fair_value": 15.397816, "relative_strength": 12.686982, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 43.121287, "energy": 32.190669, "activity_lines": [ 23.398602, 23.553855, 23.067231, 21.985201 ] }, { "date": "2024-03-08", "close": 22.542784, "volume": 34906052, "typical_volume": 24962868.6, "trend": 20.619658, "fair_value": 15.459054, "relative_strength": 9.777388, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 35.992176, "energy": 21.723031, "activity_lines": [ 23.02158, 23.359593, 23.104485, 22.121931 ] }, { "date": "2024-03-15", "close": 20.806049, "volume": 48025508, "typical_volume": 26231201.3, "trend": 20.775675, "fair_value": 15.514054, "relative_strength": 3.438491, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -9.212559, "energy": 19.593834, "activity_lines": [ 22.216353, 22.879892, 22.953967, 22.133956 ] }, { "date": "2024-03-22", "close": 21.396542, "volume": 32151964, "typical_volume": 26519199.35, "trend": 20.935511, "fair_value": 15.572291, "relative_strength": 4.66633, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -3.362116, "energy": 23.016231, "activity_lines": [ 21.792684, 22.556872, 22.849005, 22.174012 ] }, { "date": "2024-03-29", "close": 22.317009, "volume": 21514194, "typical_volume": 26610312.8, "trend": 21.142686, "fair_value": 15.636037, "relative_strength": 7.156086, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 3.659546, "energy": 21.09314, "activity_lines": [ 21.828987, 22.427354, 22.822106, 22.263141 ] }, { "date": "2024-04-05", "close": 21.51811, "volume": 19974602, "typical_volume": 25983962.25, "trend": 21.32045, "fair_value": 15.692155, "relative_strength": 4.659104, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -2.290573, "energy": 20.997412, "activity_lines": [ 21.680206, 22.165175, 22.707205, 22.287362 ] }, { "date": "2024-04-12", "close": 22.360426, "volume": 24250791, "typical_volume": 26163137.05, "trend": 21.475678, "fair_value": 15.753946, "relative_strength": 8.191862, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 4.775136, "energy": 12.833131, "activity_lines": [ 21.894982, 22.104347, 22.67025, 22.354457 ] }, { "date": "2024-04-19", "close": 21.361805, "volume": 32322166, "typical_volume": 26603581.9, "trend": 21.609021, "fair_value": 15.806047, "relative_strength": 5.993662, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -3.236298, "energy": 9.863662, "activity_lines": [ 21.789041, 21.90637, 22.53115, 22.347111 ] }, { "date": "2024-04-26", "close": 22.221487, "volume": 23499328, "typical_volume": 26689605.6, "trend": 21.76796, "fair_value": 15.860015, "relative_strength": 9.611102, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 15.267457, "energy": 12.298688, "activity_lines": [ 21.932611, 21.904975, 22.472316, 22.386625 ] }, { "date": "2024-05-03", "close": 22.282274, "volume": 19820295, "typical_volume": 25771270.65, "trend": 21.925033, "fair_value": 15.912885, "relative_strength": 8.602677, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 10.070841, "energy": 6.629183, "activity_lines": [ 22.041446, 21.9414, 22.415754, 22.419806 ] }, { "date": "2024-05-10", "close": 22.759874, "volume": 16925332, "typical_volume": 25184382.7, "trend": 22.086623, "fair_value": 15.969522, "relative_strength": 8.637676, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 19.215566, "energy": 10.618586, "activity_lines": [ 22.311798, 22.087443, 22.409214, 22.473667 ] }, { "date": "2024-05-17", "close": 23.393784, "volume": 22667609, "typical_volume": 25867809.15, "trend": 22.271569, "fair_value": 16.032141, "relative_strength": 10.135299, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 34.824867, "energy": 22.523207, "activity_lines": [ 22.710668, 22.348743, 22.467296, 22.558 ] }, { "date": "2024-05-24", "close": 23.246161, "volume": 18133958, "typical_volume": 26051298.7, "trend": 22.427678, "fair_value": 16.094519, "relative_strength": 10.021115, "stage": 2, "regime": "deceleration", "modifier": "Re-acceleration watch", "gate": "up", "direction": 42.339516, "energy": 28.751746, "activity_lines": [ 22.99144, 22.567729, 22.515209, 22.620877 ] }, { "date": "2024-05-31", "close": 21.483376, "volume": 27924180, "typical_volume": 26336181.8, "trend": 22.497773, "fair_value": 16.142267, "relative_strength": 1.588719, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -0.171296, "energy": 7.287985, "activity_lines": [ 22.558993, 22.421844, 22.396535, 22.559954 ] }, { "date": "2024-06-07", "close": 21.162083, "volume": 26516449, "typical_volume": 26532767.15, "trend": 22.542698, "fair_value": 16.186977, "relative_strength": -2.204275, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -53.315281, "energy": 23.815635, "activity_lines": [ 22.068656, 22.215962, 22.253696, 22.47378 ] }, { "date": "2024-06-14", "close": 20.146093, "volume": 20881890, "typical_volume": 26715222.5, "trend": 22.512877, "fair_value": 16.228308, "relative_strength": -5.360261, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -68.962209, "energy": 60.999183, "activity_lines": [ 21.314335, 21.846354, 22.022894, 22.319161 ] }, { "date": "2024-06-21", "close": 18.852226, "volume": 111692230, "typical_volume": 31011949.05, "trend": 22.44521, "fair_value": 16.259386, "relative_strength": -12.268886, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -81.885068, "energy": 81.775297, "activity_lines": [ 20.302978, 21.266443, 21.688024, 22.08299 ] }, { "date": "2024-06-28", "close": 18.591719, "volume": 32494503, "typical_volume": 31473444.6, "trend": 22.364132, "fair_value": 16.28621, "relative_strength": -13.134151, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -81.162336, "energy": 87.874586, "activity_lines": [ 19.507555, 20.702953, 21.356684, 21.834377 ] }, { "date": "2024-07-05", "close": 19.460083, "volume": 23880014, "typical_volume": 31518992.5, "trend": 22.296705, "fair_value": 16.317464, "relative_strength": -9.743499, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -66.714304, "energy": 83.043345, "activity_lines": [ 19.311883, 20.347712, 21.131783, 21.647019 ] }, { "date": "2024-07-12", "close": 19.190891, "volume": 25097924, "typical_volume": 31306985.35, "trend": 22.161904, "fair_value": 16.339511, "relative_strength": -12.484942, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -65.38422, "energy": 82.159268, "activity_lines": [ 19.161366, 19.993734, 20.901406, 21.446644 ] }, { "date": "2024-07-19", "close": 18.774076, "volume": 28489615, "typical_volume": 30558430.2, "trend": 21.999305, "fair_value": 16.360963, "relative_strength": -14.464485, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -69.733922, "energy": 79.571157, "activity_lines": [ 19.003324, 19.620179, 20.65202, 21.228075 ] }, { "date": "2024-07-26", "close": 17.671251, "volume": 37110427, "typical_volume": 30668648.95, "trend": 21.781312, "fair_value": 16.376677, "relative_strength": -18.925749, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -81.412665, "energy": 75.010876, "activity_lines": [ 18.569141, 19.11858, 20.316583, 20.948845 ] }, { "date": "2024-08-02", "close": 16.281862, "volume": 73521167, "typical_volume": 31943431.9, "trend": 21.540088, "fair_value": 16.390769, "relative_strength": -25.367184, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -87.809686, "energy": 86.534972, "activity_lines": [ 17.75056, 18.46841, 19.87202, 20.594042 ] }, { "date": "2024-08-09", "close": 16.056087, "volume": 45066140, "typical_volume": 32589140.7, "trend": 21.314143, "fair_value": 16.406352, "relative_strength": -24.728005, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -83.120851, "energy": 90.810667, "activity_lines": [ 17.010712, 17.903814, 19.427499, 20.240236 ] }, { "date": "2024-08-16", "close": 15.057468, "volume": 53684761, "typical_volume": 34197669.05, "trend": 21.04907, "fair_value": 16.423131, "relative_strength": -30.944641, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -86.5608, "energy": 93.881435, "activity_lines": [ 16.164923, 17.256328, 18.913303, 19.836579 ] }, { "date": "2024-08-23", "close": 15.604538, "volume": 46925337, "typical_volume": 35545205.8, "trend": 20.763577, "fair_value": 16.444827, "relative_strength": -28.711936, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -72.726596, "energy": 88.583084, "activity_lines": [ 15.777053, 16.819303, 18.485777, 19.485319 ] }, { "date": "2024-08-30", "close": 15.865049, "volume": 55288642, "typical_volume": 37097098.35, "trend": 20.465633, "fair_value": 16.464864, "relative_strength": -28.003141, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -68.01799, "energy": 85.903459, "activity_lines": [ 15.687322, 16.512218, 18.111222, 19.169285 ] }, { "date": "2024-09-06", "close": 14.739185, "volume": 58967146, "typical_volume": 38429347.35, "trend": 20.17104, "fair_value": 16.479733, "relative_strength": -32.25517, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -79.401904, "energy": 81.375578, "activity_lines": [ 15.342717, 16.054742, 17.660372, 18.799837 ] }, { "date": "2024-09-13", "close": 16.000977, "volume": 61782804, "typical_volume": 40343521.15, "trend": 19.914613, "fair_value": 16.515762, "relative_strength": -27.004942, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -65.057139, "energy": 63.560832, "activity_lines": [ 15.521554, 15.896729, 17.361229, 18.530801 ] }, { "date": "2024-09-20", "close": 16.119839, "volume": 55667779, "typical_volume": 42135895.35, "trend": 19.667433, "fair_value": 16.552248, "relative_strength": -27.189633, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -62.493889, "energy": 59.800092, "activity_lines": [ 15.743686, 15.82322, 17.103028, 18.285976 ] }, { "date": "2024-09-27", "close": 18.378263, "volume": 81014629, "typical_volume": 45340360.2, "trend": 19.521379, "fair_value": 16.606567, "relative_strength": -16.874834, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -40.248982, "energy": 34.585001, "activity_lines": [ 16.647801, 16.216171, 17.089259, 18.202804 ] }, { "date": "2024-10-04", "close": 18.067387, "volume": 58102203, "typical_volume": 47112089.9, "trend": 19.372199, "fair_value": 16.660287, "relative_strength": -17.474702, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -31.855306, "energy": 26.959864, "activity_lines": [ 17.263376, 16.559795, 17.066748, 18.108998 ] }, { "date": "2024-10-11", "close": 17.802227, "volume": 53109090, "typical_volume": 48860846.5, "trend": 19.272072, "fair_value": 16.710783, "relative_strength": -19.108214, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -25.218504, "energy": 26.514903, "activity_lines": [ 17.643742, 16.848006, 17.044348, 18.00771 ] }, { "date": "2024-10-18", "close": 17.866234, "volume": 54210331, "typical_volume": 50175154.05, "trend": 19.154395, "fair_value": 16.762953, "relative_strength": -19.241947, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -10.257666, "energy": 22.144965, "activity_lines": [ 17.84124, 17.120212, 17.053967, 17.91701 ] }, { "date": "2024-10-25", "close": 17.363344, "volume": 34450811, "typical_volume": 50571872.15, "trend": 18.989273, "fair_value": 16.813554, "relative_strength": -20.481734, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -11.53514, "energy": 17.025423, "activity_lines": [ 17.746758, 17.268072, 17.032916, 17.801459 ] }, { "date": "2024-11-01", "close": 17.820515, "volume": 30981717, "typical_volume": 51076863.5, "trend": 18.866019, "fair_value": 16.865605, "relative_strength": -17.109143, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -8.636431, "energy": 12.537312, "activity_lines": [ 17.721766, 17.457128, 17.073495, 17.726055 ] }, { "date": "2024-11-08", "close": 17.875376, "volume": 31821235, "typical_volume": 47083313.75, "trend": 18.716518, "fair_value": 16.911558, "relative_strength": -18.214114, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -8.071637, "energy": 9.963199, "activity_lines": [ 17.752244, 17.615869, 17.130373, 17.662143 ] }, { "date": "2024-11-15", "close": 16.211273, "volume": 44552716, "typical_volume": 47686224.4, "trend": 18.544833, "fair_value": 16.948064, "relative_strength": -25.177879, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -39.599103, "energy": 20.533181, "activity_lines": [ 17.240822, 17.435494, 17.033416, 17.500514 ] }, { "date": "2024-11-22", "close": 16.741592, "volume": 33963551, "typical_volume": 48190401.25, "trend": 18.36217, "fair_value": 16.980474, "relative_strength": -23.18121, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -34.584745, "energy": 20.529409, "activity_lines": [ 17.012237, 17.324776, 16.998301, 17.384176 ] }, { "date": "2024-11-29", "close": 17.363344, "volume": 28539132, "typical_volume": 48362461.65, "trend": 18.198206, "fair_value": 17.017263, "relative_strength": -20.188333, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -27.930576, "energy": 18.223486, "activity_lines": [ 17.065878, 17.313637, 17.035346, 17.319735 ] }, { "date": "2024-12-06", "close": 17.820515, "volume": 24962555, "typical_volume": 48186108.65, "trend": 18.033561, "fair_value": 17.052624, "relative_strength": -17.402447, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -17.820849, "energy": 13.849809, "activity_lines": [ 17.27191, 17.363012, 17.124634, 17.295368 ] }, { "date": "2024-12-13", "close": 17.811371, "volume": 33048742, "typical_volume": 47983024.4, "trend": 17.84748, "fair_value": 17.084091, "relative_strength": -15.584236, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -6.305547, "energy": 4.901327, "activity_lines": [ 17.474894, 17.420864, 17.217591, 17.281033 ] }, { "date": "2024-12-20", "close": 16.641014, "volume": 41895399, "typical_volume": 46401736.0, "trend": 17.627309, "fair_value": 17.106924, "relative_strength": -18.218113, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -25.477762, "energy": 10.78092, "activity_lines": [ 17.292025, 17.27058, 17.198419, 17.203197 ] }, { "date": "2024-12-27", "close": 16.933603, "volume": 7308068, "typical_volume": 44513832.4, "trend": 17.475649, "fair_value": 17.131762, "relative_strength": -18.030008, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -31.270663, "energy": 11.288173, "activity_lines": [ 17.178037, 17.194606, 17.205402, 17.158442 ] }, { "date": "2025-01-03", "close": 16.833027, "volume": 12522823, "typical_volume": 42455735.5, "trend": 17.331348, "fair_value": 17.150902, "relative_strength": -17.709002, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -34.336156, "energy": 17.465655, "activity_lines": [ 17.017723, 17.117303, 17.198628, 17.116982 ] }, { "date": "2025-01-10", "close": 16.394142, "volume": 33297083, "typical_volume": 41774322.8, "trend": 17.206283, "fair_value": 17.16287, "relative_strength": -19.609486, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -46.080207, "energy": 36.504248, "activity_lines": [ 16.746468, 16.969845, 17.1416, 17.056517 ] }, { "date": "2025-01-17", "close": 17.573641, "volume": 29488751, "typical_volume": 40484328.25, "trend": 17.163663, "fair_value": 17.184273, "relative_strength": -13.326382, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -7.612663, "energy": 15.317945, "activity_lines": [ 16.963472, 17.062775, 17.193146, 17.080218 ] }, { "date": "2025-01-24", "close": 17.198763, "volume": 28033015, "typical_volume": 38937621.7, "trend": 17.117231, "fair_value": 17.209765, "relative_strength": -15.399622, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -14.956571, "energy": 11.785076, "activity_lines": [ 17.071364, 17.093031, 17.200852, 17.082482 ] }, { "date": "2025-01-31", "close": 17.49135, "volume": 17863951, "typical_volume": 36741679.05, "trend": 17.051607, "fair_value": 17.228898, "relative_strength": -14.407173, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 32.698056, "energy": 14.45986, "activity_lines": [ 17.239602, 17.158531, 17.224712, 17.106619 ] }, { "date": "2025-02-07", "close": 18.030813, "volume": 37167876, "typical_volume": 35816683.9, "trend": 17.012938, "fair_value": 17.244995, "relative_strength": -10.859563, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 55.175088, "energy": 31.622707, "activity_lines": [ 17.550479, 17.308483, 17.292852, 17.169794 ] }, { "date": "2025-02-14", "close": 17.847944, "volume": 27087103, "typical_volume": 33120307.6, "trend": 16.982066, "fair_value": 17.272906, "relative_strength": -11.499787, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 52.48722, "energy": 42.774425, "activity_lines": [ 17.720546, 17.41305, 17.334477, 17.223665 ] }, { "date": "2025-02-21", "close": 17.052467, "volume": 48417726, "typical_volume": 32636083.75, "trend": 16.96144, "fair_value": 17.301165, "relative_strength": -12.063964, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 42.317539, "energy": 30.188525, "activity_lines": [ 17.528534, 17.372487, 17.302866, 17.228207 ] }, { "date": "2025-02-28", "close": 15.527577, "volume": 52029692, "typical_volume": 32582113.85, "trend": 16.936298, "fair_value": 17.312978, "relative_strength": -18.014082, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -33.550112, "energy": 21.792552, "activity_lines": [ 16.862971, 17.068469, 17.130862, 17.1357 ] }, { "date": "2025-03-07", "close": 14.972686, "volume": 58218686, "typical_volume": 32782531.6, "trend": 16.900184, "fair_value": 17.325667, "relative_strength": -18.041305, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -43.513583, "energy": 50.627286, "activity_lines": [ 16.123856, 16.683806, 16.916842, 17.009015 ] }, { "date": "2025-03-14", "close": 15.30186, "volume": 44702149, "typical_volume": 33295098.5, "trend": 16.908331, "fair_value": 17.338911, "relative_strength": -13.99677, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -66.01834, "energy": 70.263706, "activity_lines": [ 15.662377, 16.394645, 16.74795, 16.905897 ] }, { "date": "2025-03-21", "close": 14.850422, "volume": 71347224, "typical_volume": 35313373.85, "trend": 16.883193, "fair_value": 17.346064, "relative_strength": -17.410462, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -71.946795, "energy": 79.384409, "activity_lines": [ 15.232349, 16.051245, 16.545882, 16.773129 ] }, { "date": "2025-03-28", "close": 15.05733, "volume": 35404198, "typical_volume": 35492522.0, "trend": 16.856269, "fair_value": 17.346365, "relative_strength": -16.124179, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -66.281304, "energy": 76.433953, "activity_lines": [ 15.071124, 15.773532, 16.377662, 16.655331 ] }, { "date": "2025-04-04", "close": 13.966356, "volume": 41016734, "typical_volume": 35315722.9, "trend": 16.830508, "fair_value": 17.336154, "relative_strength": -18.352473, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -79.637253, "energy": 79.768725, "activity_lines": [ 14.679251, 15.343211, 16.118959, 16.468885 ] }, { "date": "2025-04-11", "close": 14.173265, "volume": 55261265, "typical_volume": 36380608.6, "trend": 16.769585, "fair_value": 17.328275, "relative_strength": -16.176813, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -71.011311, "energy": 69.764836, "activity_lines": [ 14.46043, 15.009281, 15.890652, 16.29745 ] }, { "date": "2025-04-18", "close": 14.192075, "volume": 22466770, "typical_volume": 36076990.5, "trend": 16.705326, "fair_value": 17.322299, "relative_strength": -17.192541, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -67.734192, "energy": 59.888091, "activity_lines": [ 14.301172, 14.7391, 15.676366, 16.131159 ] }, { "date": "2025-04-25", "close": 14.596488, "volume": 18339225, "typical_volume": 35745824.0, "trend": 16.579267, "fair_value": 17.317041, "relative_strength": -15.6111, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -63.583193, "energy": 52.353032, "activity_lines": [ 14.350705, 14.612243, 15.515697, 15.995105 ] }, { "date": "2025-05-02", "close": 15.377099, "volume": 35497215, "typical_volume": 35868247.65, "trend": 16.48959, "fair_value": 17.320443, "relative_strength": -13.199022, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -57.802699, "energy": 40.537614, "activity_lines": [ 14.677371, 14.686433, 15.444725, 15.917546 ] }, { "date": "2025-05-09", "close": 15.010306, "volume": 28364424, "typical_volume": 35191698.9, "trend": 16.396526, "fair_value": 17.328072, "relative_strength": -14.346557, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -43.95973, "energy": 29.924388, "activity_lines": [ 14.860454, 14.724395, 15.350411, 15.822108 ] }, { "date": "2025-05-16", "close": 15.988421, "volume": 38841459, "typical_volume": 36768368.45, "trend": 16.333933, "fair_value": 17.338499, "relative_strength": -9.110717, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -29.109708, "energy": 20.339075, "activity_lines": [ 15.299978, 14.949601, 15.357017, 15.795779 ] }, { "date": "2025-05-23", "close": 14.587083, "volume": 34413054, "typical_volume": 37862880.0, "trend": 16.241391, "fair_value": 17.342502, "relative_strength": -16.282634, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -39.931562, "energy": 23.513367, "activity_lines": [ 15.15138, 14.90155, 15.234663, 15.683079 ] }, { "date": "2025-05-30", "close": 14.474224, "volume": 35429203, "typical_volume": 37969486.0, "trend": 16.129848, "fair_value": 17.337237, "relative_strength": -16.833397, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -45.007101, "energy": 23.908848, "activity_lines": [ 14.938828, 14.845976, 15.112255, 15.569068 ] }, { "date": "2025-06-06", "close": 14.718753, "volume": 35095259, "typical_volume": 38249811.4, "trend": 16.024627, "fair_value": 17.333586, "relative_strength": -15.473408, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -49.963284, "energy": 27.652686, "activity_lines": [ 14.815937, 14.841701, 15.022279, 15.47803 ] }, { "date": "2025-06-13", "close": 14.793991, "volume": 29024643, "typical_volume": 38299392.8, "trend": 15.977384, "fair_value": 17.343438, "relative_strength": -14.652228, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -49.681136, "energy": 33.119387, "activity_lines": [ 14.762015, 14.857262, 14.953062, 15.398634 ] }, { "date": "2025-06-20", "close": 13.815876, "volume": 48039043, "typical_volume": 39808147.4, "trend": 15.87986, "fair_value": 17.353051, "relative_strength": -19.294867, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -66.745595, "energy": 49.565182, "activity_lines": [ 14.396476, 14.679935, 14.802143, 15.259182 ] }, { "date": "2025-06-27", "close": 14.540059, "volume": 35902540, "typical_volume": 39744880.6, "trend": 15.785751, "fair_value": 17.368586, "relative_strength": -14.591721, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -53.035151, "energy": 35.970245, "activity_lines": [ 14.417167, 14.640777, 14.737696, 15.172743 ] }, { "date": "2025-07-04", "close": 15.35829, "volume": 31245632, "typical_volume": 39952807.05, "trend": 15.703677, "fair_value": 17.387995, "relative_strength": -10.109241, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -40.327473, "energy": 23.534552, "activity_lines": [ 14.713737, 14.74406, 14.767799, 15.145165 ] }, { "date": "2025-07-11", "close": 15.969611, "volume": 30275488, "typical_volume": 39045695.15, "trend": 15.642285, "fair_value": 17.415754, "relative_strength": -5.78007, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": 1.093751, "energy": 4.367698, "activity_lines": [ 15.155142, 14.944642, 14.867978, 15.162322 ] }, { "date": "2025-07-18", "close": 15.988421, "volume": 39544248, "typical_volume": 38421422.95, "trend": 15.620531, "fair_value": 17.436781, "relative_strength": -7.098018, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": 6.426313, "energy": 19.499807, "activity_lines": [ 15.519428, 15.137871, 14.975105, 15.184654 ] }, { "date": "2025-07-25", "close": 17.258091, "volume": 61039765, "typical_volume": 38562476.9, "trend": 15.631348, "fair_value": 17.463617, "relative_strength": 1.562416, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 41.797176, "energy": 51.47161, "activity_lines": [ 16.227307, 15.544166, 15.200958, 15.290303 ] }, { "date": "2025-08-01", "close": 16.910107, "volume": 37525986, "typical_volume": 38203668.75, "trend": 15.633917, "fair_value": 17.489136, "relative_strength": -0.333761, "stage": 1, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 43.999746, "energy": 64.924254, "activity_lines": [ 16.589712, 15.864105, 15.382787, 15.372803 ] }, { "date": "2025-08-08", "close": 17.728338, "volume": 27617745, "typical_volume": 36017194.8, "trend": 15.67839, "fair_value": 17.516244, "relative_strength": 2.819216, "stage": 1, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 53.880093, "energy": 73.329804, "activity_lines": [ 17.066856, 16.290577, 15.634885, 15.507927 ] }, { "date": "2025-08-15", "close": 18.659428, "volume": 35838886, "typical_volume": 36038929.2, "trend": 15.714583, "fair_value": 17.548316, "relative_strength": 6.419698, "stage": 1, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 60.073206, "energy": 80.516751, "activity_lines": [ 17.696361, 16.827172, 15.961953, 15.700252 ] }, { "date": "2025-08-22", "close": 18.339661, "volume": 29737905, "typical_volume": 35474987.75, "trend": 15.752613, "fair_value": 17.575095, "relative_strength": 4.157537, "stage": 2, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "up", "direction": 75.734178, "energy": 88.496376, "activity_lines": [ 18.039956, 17.23398, 16.241415, 15.869612 ] }, { "date": "2025-08-29", "close": 18.15156, "volume": 46714362, "typical_volume": 35047642.6, "trend": 15.77462, "fair_value": 17.612866, "relative_strength": 2.960966, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 66.807808, "energy": 82.322172, "activity_lines": [ 18.164101, 17.54212, 16.482137, 16.024383 ] }, { "date": "2025-09-05", "close": 18.316576, "volume": 35024549, "typical_volume": 35675531.55, "trend": 15.784145, "fair_value": 17.642751, "relative_strength": 4.859052, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 67.145163, "energy": 77.73228, "activity_lines": [ 18.283686, 17.801432, 16.71963, 16.18838 ] }, { "date": "2025-09-12", "close": 18.248627, "volume": 32681028, "typical_volume": 36392621.7, "trend": 15.797502, "fair_value": 17.673134, "relative_strength": 4.459546, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 63.636256, "energy": 57.304697, "activity_lines": [ 18.286858, 17.979727, 16.931012, 16.347379 ] }, { "date": "2025-09-19", "close": 18.170975, "volume": 34764681, "typical_volume": 36355995.0, "trend": 15.834785, "fair_value": 17.707246, "relative_strength": 4.988452, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 60.928037, "energy": 52.676381, "activity_lines": [ 18.229459, 18.091351, 17.117607, 16.500506 ] }, { "date": "2025-09-26", "close": 18.568949, "volume": 28210116, "typical_volume": 36348279.6, "trend": 15.936164, "fair_value": 17.743614, "relative_strength": 7.24504, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 66.333919, "energy": 53.940815, "activity_lines": [ 18.337283, 18.235309, 17.3288, 16.676904 ] }, { "date": "2025-10-03", "close": 18.724258, "volume": 31674399, "typical_volume": 35989926.6, "trend": 16.061217, "fair_value": 17.778569, "relative_strength": 5.877034, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 66.60632, "energy": 53.920671, "activity_lines": [ 18.481589, 18.360587, 17.537839, 16.856781 ] }, { "date": "2025-10-10", "close": 18.59807, "volume": 27846660, "typical_volume": 35661606.9, "trend": 16.17109, "fair_value": 17.813698, "relative_strength": 5.599134, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 63.298306, "energy": 53.061257, "activity_lines": [ 18.545654, 18.436264, 17.721832, 17.020449 ] }, { "date": "2025-10-17", "close": 19.588156, "volume": 40037382, "typical_volume": 35892015.85, "trend": 16.329015, "fair_value": 17.85886, "relative_strength": 10.740929, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 78.468667, "energy": 63.827122, "activity_lines": [ 18.92098, 18.661266, 17.981019, 17.240904 ] }, { "date": "2025-10-24", "close": 19.918184, "volume": 33731194, "typical_volume": 35823812.6, "trend": 16.491043, "fair_value": 17.914001, "relative_strength": 12.207777, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 81.073171, "energy": 81.765044, "activity_lines": [ 19.317015, 18.912458, 18.247285, 17.472464 ] }, { "date": "2025-10-31", "close": 20.665602, "volume": 26340910, "typical_volume": 35689625.95, "trend": 16.714351, "fair_value": 17.968478, "relative_strength": 18.06335, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 87.009998, "energy": 90.069684, "activity_lines": [ 19.845707, 19.276658, 18.559974, 17.74179 ] }, { "date": "2025-11-07", "close": 19.491089, "volume": 34502471, "typical_volume": 35012797.35, "trend": 16.891612, "fair_value": 18.006138, "relative_strength": 12.703612, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 66.153756, "energy": 72.833367, "activity_lines": [ 19.843119, 19.385021, 18.732846, 17.920935 ] }, { "date": "2025-11-14", "close": 19.636688, "volume": 27108487, "typical_volume": 34573094.7, "trend": 17.073099, "fair_value": 18.033918, "relative_strength": 14.967397, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 64.252493, "energy": 65.352006, "activity_lines": [ 19.837942, 19.4955, 18.892559, 18.098036 ] }, { "date": "2025-11-21", "close": 19.471674, "volume": 34321515, "typical_volume": 34726888.85, "trend": 17.235606, "fair_value": 18.065654, "relative_strength": 16.59252, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 60.242333, "energy": 51.162115, "activity_lines": [ 19.708518, 19.551976, 19.012286, 18.252783 ] }, { "date": "2025-11-28", "close": 20.782082, "volume": 37680749, "typical_volume": 35097151.9, "trend": 17.415772, "fair_value": 18.102153, "relative_strength": 21.168323, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 76.24095, "energy": 55.308132, "activity_lines": [ 20.023663, 19.82447, 19.237227, 18.481588 ] }, { "date": "2025-12-05", "close": 21.461552, "volume": 34503902, "typical_volume": 34845134.6, "trend": 17.630813, "fair_value": 18.134603, "relative_strength": 24.389156, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 81.643611, "energy": 63.1008, "activity_lines": [ 20.507705, 20.173029, 19.503963, 18.742606 ] }, { "date": "2025-12-12", "close": 22.306036, "volume": 33205442, "typical_volume": 33453418.45, "trend": 17.8414, "fair_value": 18.17866, "relative_strength": 27.837743, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 84.629456, "energy": 79.055681, "activity_lines": [ 21.220178, 20.622538, 19.825063, 19.044233 ] }, { "date": "2025-12-19", "close": 21.238297, "volume": 48182910, "typical_volume": 33986264.65, "trend": 18.063108, "fair_value": 18.213709, "relative_strength": 22.320309, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 63.854684, "energy": 77.618637, "activity_lines": [ 21.389075, 20.81279, 20.020436, 19.263388 ] }, { "date": "2025-12-26", "close": 21.636272, "volume": 7746865, "typical_volume": 32992720.65, "trend": 18.301842, "fair_value": 18.251604, "relative_strength": 22.113855, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 66.316005, "energy": 76.644939, "activity_lines": [ 21.583856, 21.027397, 20.233101, 19.493915 ] }, { "date": "2026-01-02", "close": 21.490671, "volume": 11703829, "typical_volume": 31785967.8, "trend": 18.527573, "fair_value": 18.282227, "relative_strength": 21.290211, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 64.251389, "energy": 60.119076, "activity_lines": [ 21.585797, 21.178292, 20.41329, 19.699645 ] }, { "date": "2026-01-09", "close": 22.043953, "volume": 34123090, "typical_volume": 32005227.05, "trend": 18.769238, "fair_value": 18.311481, "relative_strength": 23.907642, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 69.170038, "energy": 55.719396, "activity_lines": [ 21.724926, 21.401193, 20.63269, 19.926509 ] }, { "date": "2026-01-16", "close": 22.150728, "volume": 32676970, "typical_volume": 31303357.45, "trend": 19.047067, "fair_value": 18.342402, "relative_strength": 21.478372, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 68.943692, "energy": 55.810497, "activity_lines": [ 21.86082, 21.618447, 20.84462, 20.144669 ] }, { "date": "2026-01-23", "close": 20.879148, "volume": 39616198, "typical_volume": 31532939.9, "trend": 19.25837, "fair_value": 18.365713, "relative_strength": 14.735548, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 57.469259, "energy": 43.217889, "activity_lines": [ 21.583208, 21.556147, 20.916404, 20.262868 ] }, { "date": "2026-01-30", "close": 20.384106, "volume": 30886568, "typical_volume": 31443216.9, "trend": 19.425897, "fair_value": 18.388505, "relative_strength": 11.641948, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 42.773955, "energy": 29.385979, "activity_lines": [ 21.164526, 21.38125, 20.928837, 20.335496 ] }, { "date": "2026-02-06", "close": 20.607361, "volume": 31914127, "typical_volume": 31300689.2, "trend": 19.580489, "fair_value": 18.412482, "relative_strength": 14.676663, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 35.07841, "energy": 20.287762, "activity_lines": [ 20.903739, 21.230355, 20.952365, 20.41172 ] }, { "date": "2026-02-13", "close": 20.587946, "volume": 29949400, "typical_volume": 31387653.4, "trend": 19.733806, "fair_value": 18.435057, "relative_strength": 11.65441, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 28.418622, "energy": 22.859405, "activity_lines": [ 20.695368, 21.079106, 20.962441, 20.476717 ] }, { "date": "2026-02-20", "close": 19.452263, "volume": 32893998, "typical_volume": 31448633.35, "trend": 19.806945, "fair_value": 18.449467, "relative_strength": 3.509153, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -6.005347, "energy": 19.959433, "activity_lines": [ 20.205503, 20.737254, 20.854743, 20.458553 ] }, { "date": "2026-02-27", "close": 20.519999, "volume": 42845431, "typical_volume": 32198571.9, "trend": 19.927275, "fair_value": 18.465281, "relative_strength": 7.469231, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 8.258681, "energy": 17.563648, "activity_lines": [ 20.251448, 20.641422, 20.845267, 20.504556 ] }, { "date": "2026-03-06", "close": 19.25, "volume": 50502294, "typical_volume": 32721817.5, "trend": 19.977997, "fair_value": 18.47931, "relative_strength": 4.495403, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -26.975622, "energy": 27.245309, "activity_lines": [ 19.898003, 20.327741, 20.705687, 20.460861 ] }, { "date": "2026-03-13", "close": 20.48, "volume": 40691415, "typical_volume": 33069828.55, "trend": 20.038683, "fair_value": 18.501681, "relative_strength": 13.756529, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -12.943471, "energy": 18.524771, "activity_lines": [ 20.030165, 20.281083, 20.68486, 20.493248 ] }, { "date": "2026-03-20", "close": 18.959999, "volume": 36790852, "typical_volume": 33592325.65, "trend": 20.059361, "fair_value": 18.519901, "relative_strength": 7.298999, "stage": 3, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -28.167673, "energy": 26.833924, "activity_lines": [ 19.66415, 19.976438, 20.516596, 20.423656 ] }, { "date": "2026-03-27", "close": 20.190001, "volume": 29204401, "typical_volume": 33327422.15, "trend": 20.127309, "fair_value": 18.534973, "relative_strength": 12.580391, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -14.491734, "energy": 17.162105, "activity_lines": [ 19.816667, 19.951501, 20.473597, 20.432084 ] }, { "date": "2026-04-03", "close": 20.25, "volume": 24230922, "typical_volume": 33183543.9, "trend": 20.191756, "fair_value": 18.555107, "relative_strength": 11.534325, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -18.670062, "energy": 12.574599, "activity_lines": [ 19.94, 19.973122, 20.432984, 20.44 ] }, { "date": "2026-04-10", "close": 20.26, "volume": 23525995, "typical_volume": 32643767.9, "trend": 20.258802, "fair_value": 18.570932, "relative_strength": 6.449296, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -8.387928, "energy": 8.359822, "activity_lines": [ 20.084667, 20.008001, 20.390402, 20.444403 ] }, { "date": "2026-04-17", "close": 21.23, "volume": 22028202, "typical_volume": 31861140.55, "trend": 20.360769, "fair_value": 18.597755, "relative_strength": 11.155225, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 12.249031, "energy": 11.279554, "activity_lines": [ 20.485333, 20.221499, 20.436448, 20.507061 ] }, { "date": "2026-04-24", "close": 19.780001, "volume": 23370167, "typical_volume": 31304453.8, "trend": 20.401138, "fair_value": 18.618079, "relative_strength": 5.057097, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -7.640537, "energy": 7.780025, "activity_lines": [ 20.352667, 20.160041, 20.342266, 20.469592 ] }, { "date": "2026-05-01", "close": 20.01, "volume": 23934926, "typical_volume": 30840928.0, "trend": 20.443996, "fair_value": 18.643386, "relative_strength": 6.562002, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -4.95081, "energy": 5.245363, "activity_lines": [ 20.242, 20.155091, 20.277995, 20.444357 ] }, { "date": "2026-05-08", "close": 21.27, "volume": 21681159, "typical_volume": 29515840.45, "trend": 20.53306, "fair_value": 18.677533, "relative_strength": 12.470727, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 13.607765, "energy": 10.342861, "activity_lines": [ 20.563334, 20.369091, 20.344658, 20.497648 ] }, { "date": "2026-05-15", "close": 22.6, "volume": 35841247, "typical_volume": 30920559.55, "trend": 20.633455, "fair_value": 18.71807, "relative_strength": 20.324971, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 27.867326, "energy": 31.784131, "activity_lines": [ 21.26, 20.811273, 20.537837, 20.630999 ] }, { "date": "2026-05-22", "close": 21.5, "volume": 31150862, "typical_volume": 31892911.2, "trend": 20.686182, "fair_value": 18.756131, "relative_strength": 13.381722, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 23.930703, "energy": 35.498088, "activity_lines": [ 21.434, 20.992546, 20.621665, 20.686905 ] }, { "date": "2026-05-29", "close": 22.309999, "volume": 15367825, "typical_volume": 30955147.95, "trend": 20.740996, "fair_value": 18.799029, "relative_strength": 15.793816, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 52.341458, "energy": 55.956194, "activity_lines": [ 21.86, 21.302545, 20.782591, 20.791667 ] }, { "date": "2026-06-05", "close": 20.530001, "volume": 29246907, "typical_volume": 30783644.8, "trend": 20.775626, "fair_value": 18.824924, "relative_strength": 7.262833, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 19.943488, "energy": 35.455364, "activity_lines": [ 21.524, 21.228, 20.772726, 20.778055 ] }, { "date": "2026-06-12", "close": 20.209999, "volume": 4071847, "typical_volume": 29006427.25, "trend": 20.794736, "fair_value": 18.840022, "relative_strength": 2.941485, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -10.153991, "energy": 7.788313, "activity_lines": [ 21.046666, 21.089091, 20.740103, 20.741563 ] }, { "date": "2026-06-19", "close": 19.75, "volume": 9640179, "typical_volume": 27944107.8, "trend": 20.804014, "fair_value": 18.857765, "relative_strength": -0.21026, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -24.534612, "energy": 17.065275, "activity_lines": [ 20.486666, 20.867273, 20.666857, 20.67416 ] }, { "date": "2026-06-26", "close": 19.07, "volume": 4810614, "typical_volume": 26588932.15, "trend": 20.746944, "fair_value": 18.867233, "relative_strength": -3.325196, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -65.804592, "energy": 44.140584, "activity_lines": [ 19.89, 20.531091, 20.531869, 20.562288 ] }, { "date": "2026-07-03", "close": 18.360001, "volume": 9071158, "typical_volume": 25545020.05, "trend": 20.643559, "fair_value": 18.874743, "relative_strength": -7.997005, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -75.009248, "energy": 69.900875, "activity_lines": [ 19.218667, 20.105091, 20.336582, 20.408292 ] }, { "date": "2026-07-10", "close": 18.469999, "volume": 26346204, "typical_volume": 25217630.35, "trend": 20.515691, "fair_value": 18.877263, "relative_strength": -7.228954, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -72.376483, "energy": 76.130813, "activity_lines": [ 18.847333, 19.724909, 20.162381, 20.268062 ] }, { "date": "2026-07-17", "close": 18.870001, "volume": 25918774, "typical_volume": 24371297.5, "trend": 20.436748, "fair_value": 18.883619, "relative_strength": -5.376677, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -63.703456, "energy": 72.669862, "activity_lines": [ 18.746667, 19.445455, 20.030952, 20.161889 ] }, { "date": "2026-07-24", "close": 18.57, "volume": 19756978, "typical_volume": 22834031.7, "trend": 20.334539, "fair_value": 18.892425, "relative_strength": -6.721419, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -65.488235, "energy": 72.466454, "activity_lines": [ 18.635334, 19.155091, 19.87881, 20.041453 ] }, { "date": "2026-07-31", "close": 18.51, "volume": 26596023, "typical_volume": 22129262.1, "trend": 20.235184, "fair_value": 18.90232, "relative_strength": -9.225344, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -63.947452, "energy": 58.425756, "activity_lines": [ 18.582667, 18.927091, 19.724191, 19.923741 ] }, { "date": "2026-08-07", "close": 18.02, "volume": 38308164, "typical_volume": 22205127.7, "trend": 20.101052, "fair_value": 18.911057, "relative_strength": -14.315203, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -71.110153, "energy": 55.970793, "activity_lines": [ 18.404, 18.664364, 19.532286, 19.780826 ] } ], "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." } } }