{ "ticker": { "uuid": "5c475a9f-bb2e-4e29-9264-891727a7e246", "symbol": "PMIO", "name": "PGIM MUNICIPAL INCOME OPPORTUNITIES ETF", "exchange": "NYSEARCA", "country": "US", "assetType": "etf" }, "methodBoundary": "Trend Architecture is a weekly structural classification, not a forecast, probability of return, recommendation or execution signal. Confidence measures geometric agreement and external confirmation only.", "analysis": { "eligible": true, "as_of": "2026-08-07", "benchmark": "SPY", "stage": 3, "stage_name": "Distribution", "phase": "3a", "phase_label": "Stage 3A \u00b7 Churning", "transition": "stage_3_churning", "transition_label": "Stage 3 range intact", "confidence": 83.512, "architecture_regime": "upward_expansion", "architecture_regime_label": "Upward Expansion", "architecture_modifier": "Re-accelerating", "architecture_gate": "down", "architecture_direction": -45.143, "architecture_energy": 44.203, "architecture_maturity": 41.286, "architecture_confidence": 58.794, "architecture_tenure": "Developing", "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": 38.78, "rotation_up": 8.85, "upward_expansion": 13.82, "deceleration": 50.37, "rotation_down": 65.08, "downward_expansion": 68.15 }, "activity_lines": [ 50.378094, 50.565304, 50.608749, 50.607532 ], "activity_state": "Moderate", "activity_direction": "Expanding", "rotation_direction": "Weakening", "price_acceptance": -0.166667 }, "latest_close": 50.435, "trend_reference": 50.61624, "distance_from_trend": -0.003581, "trend_direction": "Improving", "fair_value": 48.898921, "distance_from_fair_value": 0.031413, "fair_value_direction": "Weakening", "relative_strength": -10.574315, "relative_strength_direction": "Weakening", "price_momentum": -0.004927, "excess_performance": -0.130552, "evidence": [ { "label": "Price vs Trend", "positive": false, "value": -0.003581, "read": "Below" }, { "label": "Trend direction", "positive": true, "value": 0.003952, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.031413, "read": "Premium" }, { "label": "Fair Value direction", "positive": false, "value": -0.008273, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.105743, "read": "Lagging" }, { "label": "Relative strength direction", "positive": false, "value": -0.012609, "read": "Weakening" }, { "label": "Price momentum", "positive": false, "value": -0.004927, "read": "Negative" }, { "label": "Volume balance", "positive": true, "value": 1.702079, "read": "Demand-led" } ], "volume": { "latest": 20652, "relative_activity": 1.199557, "balance": 1.702079, "dry_up": 0.705071, "accumulation_observations": 5, "distribution_observations": 1 }, "risk": { "range_context": 0.005783, "annualized_volatility": 0.032871, "from_high_reference": -0.019819, "from_low_reference": 0.045266 }, "levels": { "trend_reference": 50.61624, "fair_value_reference": 48.898921, "structural_low": 49.933679, "invalidation": "A decisive breakout above range resistance with renewed RS leadership invalidates the distribution reading; a range-low break confirms deterioration." }, "outcomes": [ { "horizon": "Near term", "sample_count": 4, "median_return": 0.000486, "positive_rate": 0.5, "directional_follow_through": 0.5, "median_excess_return": 0.009738, "regime_survival": 0.75, "best_return": 0.012284, "worst_return": -0.022377, "sufficient": false }, { "horizon": "Intermediate", "sample_count": 1, "median_return": 0.002344, "positive_rate": 1.0, "directional_follow_through": 1.0, "median_excess_return": 0.039703, "regime_survival": 0.0, "best_return": 0.002344, "worst_return": 0.002344, "sufficient": false }, { "horizon": "Extended", "sample_count": 1, "median_return": 0.014636, "positive_rate": 1.0, "directional_follow_through": 1.0, "median_excess_return": -0.081354, "regime_survival": 1.0, "best_return": 0.014636, "worst_return": 0.014636, "sufficient": false }, { "horizon": "Full cycle", "sample_count": 0, "median_return": null, "positive_rate": null, "directional_follow_through": null, "median_excess_return": null, "regime_survival": null, "best_return": null, "worst_return": null, "sufficient": false } ], "ledger": [ { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-01-02", "end": "2026-03-20", "tenure": "Developing", "return": 0.000393, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2026-03-27", "end": "2026-06-12", "tenure": "Developing", "return": 0.016618, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-06-19", "end": "2026-08-07", "tenure": "Developing", "return": -0.011157, "active": true } ], "chart_path": [ { "date": "2024-06-28", "close": 46.525606, "volume": 26, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-07-05", "close": 46.73567, "volume": 459, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-07-12", "close": 46.84098, "volume": 4, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-07-19", "close": 46.926764, "volume": 1986, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-07-26", "close": 47.021339, "volume": 2, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-08-02", "close": 47.396752, "volume": 26, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-08-09", "close": 47.234116, "volume": 54, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-08-16", "close": 47.24341, "volume": 716, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-08-23", "close": 47.568682, "volume": 255, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-08-30", "close": 47.529928, "volume": 652, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-09-06", "close": 47.78814, "volume": 241, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-09-13", "close": 47.884795, "volume": 1080, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-09-20", "close": 47.81023, "volume": 865, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-09-27", "close": 47.978001, "volume": 3351, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-10-04", "close": 47.838114, "volume": 549, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-10-11", "close": 47.852141, "volume": 596, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-10-18", "close": 47.861493, "volume": 5321, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-10-25", "close": 47.522497, "volume": 2676, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-01", "close": 47.542697, "volume": 49, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-08", "close": 47.739775, "volume": 74, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-15", "close": 47.885237, "volume": 222, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-22", "close": 47.927468, "volume": 1294, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-29", "close": 48.2137, "volume": 394, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-12-06", "close": 48.348952, "volume": 215, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-12-13", "close": 47.948563, "volume": 682, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-12-20", "close": 47.633299, "volume": 2865, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-12-27", "close": 47.584334, "volume": 322, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-03", "close": 47.681184, "volume": 4767, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-10", "close": 47.456774, "volume": 2939, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-17", "close": 47.607956, "volume": 401, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-24", "close": 47.765562, "volume": 202, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-31", "close": 47.937248, "volume": 711, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-02-07", "close": 48.135004, "volume": 1085, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-02-14", "close": 48.172927, "volume": 437, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-02-21", "close": 48.376769, "volume": 204, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-02-28", "close": 48.486464, "volume": 1467, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-03-07", "close": 48.160251, "volume": 563, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-03-14", "close": 48.009963, "volume": 173, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-03-21", "close": 47.930159, "volume": 436, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-03-28", "close": 47.798801, "volume": 19741, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-04-04", "close": 48.308936, "volume": 2656, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-04-11", "close": 46.876058, "volume": 3866, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-04-18", "close": 47.290115, "volume": 1037, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-04-25", "close": 47.552599, "volume": 901, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-02", "close": 47.580091, "volume": 1222, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-09", "close": 47.781235, "volume": 3953, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-16", "close": 47.826827, "volume": 12669, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-23", "close": 47.599247, "volume": 13736, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-30", "close": 47.802594, "volume": 937, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-06-06", "close": 47.75246, "volume": 972, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-06-13", "close": 47.829371, "volume": 10675, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-06-20", "close": 47.973581, "volume": 7197, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-06-27", "close": 48.18028, "volume": 999, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-07-04", "close": 48.165266, "volume": 3175, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-07-11", "close": 48.123593, "volume": 610, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-07-18", "close": 47.78905, "volume": 4503, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-07-25", "close": 47.890339, "volume": 1521, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-01", "close": 48.27022, "volume": 627, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-08", "close": 48.347669, "volume": 1119, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-15", "close": 48.357351, "volume": 1129, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-22", "close": 48.420278, "volume": 9505, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-29", "close": 48.48156, "volume": 8978, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-09-05", "close": 48.924164, "volume": 13456, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-09-12", "close": 49.341849, "volume": 19188, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-09-19", "close": 49.507115, "volume": 12695, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-09-26", "close": 49.439104, "volume": 7947, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-10-03", "close": 49.624663, "volume": 10280, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-10-10", "close": 49.700604, "volume": 3131, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-10-17", "close": 49.892746, "volume": 8879, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-10-24", "close": 49.970734, "volume": 16165, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-10-31", "close": 49.936615, "volume": 16402, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-11-07", "close": 49.943002, "volume": 21334, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-11-14", "close": 49.95738, "volume": 42803, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-11-21", "close": 50.035629, "volume": 15119, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-11-28", "close": 50.112314, "volume": 12522, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-12-05", "close": 49.95743, "volume": 18497, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-12-12", "close": 50.025524, "volume": 17896, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-12-19", "close": 50.079882, "volume": 41200, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-12-26", "close": 50.123642, "volume": 9440, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-01-02", "close": 50.208539, "volume": 15812, "typical_volume": 16062.45, "trend": 49.15365, "fair_value": 48.236018, "relative_strength": -7.241544, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 79.640104, "energy": 70.039007, "activity_lines": [ 50.119026, 50.075624, 49.930342, 49.614252 ] }, { "date": "2026-01-09", "close": 50.411616, "volume": 9326, "typical_volume": 16053.5, "trend": 49.239725, "fair_value": 48.262877, "relative_strength": -8.104187, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 88.750716, "energy": 74.265948, "activity_lines": [ 50.229897, 50.143555, 49.999626, 49.695411 ] }, { "date": "2026-01-16", "close": 50.464353, "volume": 22013, "typical_volume": 16705.25, "trend": 49.32275, "fair_value": 48.289724, "relative_strength": -7.515609, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 87.383067, "energy": 86.07242, "activity_lines": [ 50.328067, 50.212438, 50.064449, 49.774419 ] }, { "date": "2026-01-23", "close": 50.444675, "volume": 20669, "typical_volume": 17065.9, "trend": 49.39823, "fair_value": 48.315687, "relative_strength": -7.083133, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 77.174133, "energy": 76.28532, "activity_lines": [ 50.390424, 50.268264, 50.117957, 49.846801 ] }, { "date": "2026-01-30", "close": 50.562153, "volume": 30397, "typical_volume": 17626.35, "trend": 49.478126, "fair_value": 48.342431, "relative_strength": -7.064979, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 79.886992, "energy": 71.50067, "activity_lines": [ 50.46762, 50.33659, 50.175413, 49.921893 ] }, { "date": "2026-02-06", "close": 50.684717, "volume": 36164, "typical_volume": 18799.8, "trend": 49.563497, "fair_value": 48.369987, "relative_strength": -6.482153, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 80.792756, "energy": 70.804517, "activity_lines": [ 50.556436, 50.417627, 50.23873, 49.999738 ] }, { "date": "2026-02-13", "close": 50.906846, "volume": 46942, "typical_volume": 20749.55, "trend": 49.667424, "fair_value": 48.399486, "relative_strength": -4.727323, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 87.815241, "energy": 73.758504, "activity_lines": [ 50.687551, 50.528644, 50.317595, 50.086405 ] }, { "date": "2026-02-20", "close": 51.005569, "volume": 17767, "typical_volume": 21123.9, "trend": 49.771265, "fair_value": 48.429441, "relative_strength": -5.429619, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 86.274769, "energy": 73.930038, "activity_lines": [ 50.818557, 50.640349, 50.398872, 50.172737 ] }, { "date": "2026-02-27", "close": 51.183272, "volume": 11248, "typical_volume": 21529.75, "trend": 49.868367, "fair_value": 48.460734, "relative_strength": -4.437595, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 86.515518, "energy": 75.019779, "activity_lines": [ 50.972717, 50.766544, 50.490498, 50.263834 ] }, { "date": "2026-03-06", "close": 50.824723, "volume": 30728, "typical_volume": 22622.2, "trend": 49.950935, "fair_value": 48.487296, "relative_strength": -2.97085, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 67.105947, "energy": 65.845761, "activity_lines": [ 50.958121, 50.807486, 50.540916, 50.325535 ] }, { "date": "2026-03-13", "close": 50.671347, "volume": 11791, "typical_volume": 22403.5, "trend": 50.028068, "fair_value": 48.511563, "relative_strength": -1.551875, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 63.931162, "energy": 57.904784, "activity_lines": [ 50.874895, 50.807796, 50.572289, 50.372013 ] }, { "date": "2026-03-20", "close": 50.228252, "volume": 15026, "typical_volume": 22334.7, "trend": 50.088334, "fair_value": 48.530428, "relative_strength": -0.414441, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 31.08414, "energy": 27.111833, "activity_lines": [ 50.644862, 50.719127, 50.558127, 50.384928 ] }, { "date": "2026-03-27", "close": 50.037943, "volume": 9275, "typical_volume": 21731.75, "trend": 50.140213, "fair_value": 48.546814, "relative_strength": 1.677296, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 2.781577, "energy": 19.278721, "activity_lines": [ 50.396632, 50.599191, 50.52445, 50.381677 ] }, { "date": "2026-04-03", "close": 50.326208, "volume": 6658, "typical_volume": 19924.5, "trend": 50.186948, "fair_value": 48.565947, "relative_strength": -0.635212, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 16.326939, "energy": 27.615994, "activity_lines": [ 50.308999, 50.53942, 50.517776, 50.393677 ] }, { "date": "2026-04-10", "close": 50.475234, "volume": 11420, "typical_volume": 19739.55, "trend": 50.224728, "fair_value": 48.586259, "relative_strength": -3.457988, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 5.250225, "energy": 22.503269, "activity_lines": [ 50.328179, 50.508899, 50.523538, 50.412276 ] }, { "date": "2026-04-17", "close": 50.649098, "volume": 17176, "typical_volume": 19972.25, "trend": 50.262794, "fair_value": 48.607973, "relative_strength": -6.855762, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 18.717906, "energy": 16.773858, "activity_lines": [ 50.428613, 50.511569, 50.543765, 50.439655 ] }, { "date": "2026-04-24", "close": 50.743481, "volume": 8106, "typical_volume": 19452.7, "trend": 50.306273, "fair_value": 48.630218, "relative_strength": -6.79795, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 41.225108, "energy": 21.439993, "activity_lines": [ 50.561991, 50.532047, 50.570425, 50.470667 ] }, { "date": "2026-05-01", "close": 50.416184, "volume": 14766, "typical_volume": 19296.2, "trend": 50.332657, "fair_value": 48.64863, "relative_strength": -7.91404, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 26.282723, "energy": 18.301732, "activity_lines": [ 50.551921, 50.495988, 50.562171, 50.477758 ] }, { "date": "2026-05-08", "close": 50.600021, "volume": 16732, "typical_volume": 18072.8, "trend": 50.362638, "fair_value": 48.668542, "relative_strength": -9.313398, "stage": 3, "regime": "deceleration", "modifier": "Re-acceleration watch", "gate": "up", "direction": 35.696561, "energy": 22.908655, "activity_lines": [ 50.577914, 50.504069, 50.569565, 50.495007 ] }, { "date": "2026-05-15", "close": 50.336686, "volume": 39913, "typical_volume": 19596.45, "trend": 50.377436, "fair_value": 48.685392, "relative_strength": -9.668782, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 18.393172, "energy": 10.231906, "activity_lines": [ 50.497875, 50.474876, 50.549402, 50.493333 ] }, { "date": "2026-05-22", "close": 50.33927, "volume": 55264, "typical_volume": 21569.05, "trend": 50.38972, "fair_value": 48.70193, "relative_strength": -10.089632, "stage": 3, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "up", "direction": 6.526016, "energy": 9.961418, "activity_lines": [ 50.427934, 50.455026, 50.528471, 50.49087 ] }, { "date": "2026-05-29", "close": 50.754942, "volume": 28062, "typical_volume": 22505.85, "trend": 50.416998, "fair_value": 48.722257, "relative_strength": -10.302963, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 39.40959, "energy": 14.721141, "activity_lines": [ 50.517205, 50.51679, 50.546505, 50.514433 ] }, { "date": "2026-06-05", "close": 50.804685, "volume": 17671, "typical_volume": 22288.75, "trend": 50.445721, "fair_value": 48.742673, "relative_strength": -7.632004, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 52.466299, "energy": 24.091585, "activity_lines": [ 50.622293, 50.578022, 50.567642, 50.539445 ] }, { "date": "2026-06-12", "close": 50.86948, "volume": 24651, "typical_volume": 22487.85, "trend": 50.476124, "fair_value": 48.763322, "relative_strength": -7.741568, "stage": 3, "regime": "deceleration", "modifier": "Re-acceleration watch", "gate": "up", "direction": 58.92911, "energy": 45.204651, "activity_lines": [ 50.723079, 50.637095, 50.593329, 50.566784 ] }, { "date": "2026-06-19", "close": 51.004055, "volume": 8812, "typical_volume": 21408.6, "trend": 50.508405, "fair_value": 48.784867, "relative_strength": -8.033263, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 66.257081, "energy": 63.312856, "activity_lines": [ 50.85076, 50.710758, 50.62981, 50.600845 ] }, { "date": "2026-06-26", "close": 50.905468, "volume": 12925, "typical_volume": 20246.65, "trend": 50.534843, "fair_value": 48.805064, "relative_strength": -5.74693, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 58.858272, "energy": 63.84467, "activity_lines": [ 50.901087, 50.756881, 50.654798, 50.626462 ] }, { "date": "2026-07-03", "close": 50.943402, "volume": 8788, "typical_volume": 18338.95, "trend": 50.567709, "fair_value": 48.825237, "relative_strength": -7.448854, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 63.02746, "energy": 64.507192, "activity_lines": [ 50.926313, 50.80524, 50.682346, 50.65282 ] }, { "date": "2026-07-10", "close": 50.799073, "volume": 15553, "typical_volume": 18228.25, "trend": 50.593494, "fair_value": 48.843684, "relative_strength": -8.699309, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 57.994825, "energy": 51.371882, "activity_lines": [ 50.890864, 50.823723, 50.695976, 50.667747 ] }, { "date": "2026-07-17", "close": 50.694415, "volume": 8540, "typical_volume": 18092.85, "trend": 50.613978, "fair_value": 48.86082, "relative_strength": -7.245452, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 52.24905, "energy": 29.387355, "activity_lines": [ 50.820904, 50.816215, 50.700621, 50.674258 ] }, { "date": "2026-07-24", "close": 50.198037, "volume": 8932, "typical_volume": 17003.05, "trend": 50.616458, "fair_value": 48.873088, "relative_strength": -7.416407, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "mixed", "direction": -16.056523, "energy": 17.207423, "activity_lines": [ 50.597156, 50.71674, 50.66032, 50.647423 ] }, { "date": "2026-07-31", "close": 50.1786, "volume": 10431, "typical_volume": 16935.05, "trend": 50.61546, "fair_value": 48.884956, "relative_strength": -8.183167, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "mixed", "direction": -31.777333, "energy": 34.203983, "activity_lines": [ 50.420663, 50.616253, 50.621152, 50.619174 ] }, { "date": "2026-08-07", "close": 50.435, "volume": 20652, "typical_volume": 17216.35, "trend": 50.61624, "fair_value": 48.898921, "relative_strength": -10.574315, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "down", "direction": -45.143339, "energy": 44.202776, "activity_lines": [ 50.378094, 50.565304, 50.608749, 50.607532 ] } ], "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." } } }