{ "ticker": { "uuid": "60abe233-3c0f-4781-af26-d69cf58f92a1", "symbol": "ICOS", "name": "Intercos S.p.A.", "exchange": "MIL", "country": "IT", "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": "FTSEMIB.MI", "stage": 2, "stage_name": "Advancing", "phase": "2a", "phase_label": "Stage 2A \u00b7 Early advance", "transition": "stage_2_healthy", "transition_label": "Stage 2 trend intact", "confidence": 96.0, "architecture_regime": "upward_expansion", "architecture_regime_label": "Upward Expansion", "architecture_modifier": "Early expansion", "architecture_gate": "up", "architecture_direction": 77.222, "architecture_energy": 56.775, "architecture_maturity": 24.684, "architecture_confidence": 72.744, "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": 6.95, "rotation_up": 70.12, "upward_expansion": 83.92, "deceleration": 50.16, "rotation_down": 13.9, "downward_expansion": 8.26 }, "activity_lines": [ 13.358667, 13.119636, 12.734261, 12.510649 ], "activity_state": "Wide", "activity_direction": "Expanding", "rotation_direction": "Improving", "price_acceptance": 0.833333 }, "latest_close": 13.94, "trend_reference": 12.297623, "distance_from_trend": 0.133552, "trend_direction": "Improving", "fair_value": 13.047024, "distance_from_fair_value": 0.068443, "fair_value_direction": "Improving", "relative_strength": 0.124991, "relative_strength_direction": "Improving", "price_momentum": 0.153952, "excess_performance": -0.01694, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.133552, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.051515, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.068443, "read": "Premium" }, { "label": "Fair Value direction", "positive": true, "value": 0.146643, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": true, "value": 0.00125, "read": "Leading" }, { "label": "Relative strength direction", "positive": true, "value": 0.10818, "read": "Improving" }, { "label": "Price momentum", "positive": true, "value": 0.153952, "read": "Positive" }, { "label": "Volume balance", "positive": true, "value": 5.801931, "read": "Demand-led" } ], "volume": { "latest": 1153935, "relative_activity": 3.052656, "balance": 5.801931, "dry_up": 1.493345, "accumulation_observations": 5, "distribution_observations": 0 }, "risk": { "range_context": 0.056727, "annualized_volatility": 0.224524, "from_high_reference": -0.034626, "from_low_reference": 0.339369 }, "levels": { "trend_reference": 12.297623, "fair_value_reference": 13.047024, "structural_low": 11.017797, "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis." }, "outcomes": [ { "horizon": "Near term", "sample_count": 8, "median_return": -0.017584, "positive_rate": 0.25, "directional_follow_through": 0.25, "median_excess_return": -0.011446, "regime_survival": 0.375, "best_return": 0.040609, "worst_return": -0.133244, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 4, "median_return": -0.015584, "positive_rate": 0.25, "directional_follow_through": 0.25, "median_excess_return": -0.02882, "regime_survival": 0.0, "best_return": 0.06593, "worst_return": -0.060367, "sufficient": false }, { "horizon": "Extended", "sample_count": 3, "median_return": -0.087927, "positive_rate": 0.333333, "directional_follow_through": 0.333333, "median_excess_return": -0.159802, "regime_survival": 0.333333, "best_return": 0.085038, "worst_return": -0.103145, "sufficient": false }, { "horizon": "Full cycle", "sample_count": 2, "median_return": -0.062882, "positive_rate": 0.5, "directional_follow_through": 0.5, "median_excess_return": -0.291751, "regime_survival": 0.0, "best_return": 0.014067, "worst_return": -0.13983, "sufficient": false } ], "ledger": [ { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2024-06-07", "end": "2024-08-23", "tenure": "Developing", "return": 0.001259, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2024-08-30", "end": "2024-11-01", "tenure": "Developing", "return": -0.088418, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2024-11-08", "end": "2024-11-22", "tenure": "New", "return": -0.066849, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2024-11-29", "end": "2025-05-16", "tenure": "Established", "return": 0.001469, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-05-23", "end": "2025-05-30", "tenure": "New", "return": 0.02439, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2025-06-06", "end": "2025-06-20", "tenure": "New", "return": -0.046062, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-06-27", "end": "2025-07-18", "tenure": "New", "return": -0.048819, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-07-25", "end": "2025-10-17", "tenure": "Established", "return": 0.030405, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-10-24", "end": "2025-11-07", "tenure": "New", "return": -0.063934, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-11-14", "end": "2026-01-23", "tenure": "Developing", "return": 0.112701, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2026-01-30", "end": "2026-02-13", "tenure": "New", "return": -0.059843, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-02-20", "end": "2026-03-06", "tenure": "New", "return": -0.016393, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-03-13", "end": "2026-06-19", "tenure": "Established", "return": 0.144047, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-06-26", "end": "2026-08-07", "tenure": "Developing", "return": 0.11878, "active": true } ], "chart_path": [ { "date": "2023-08-18", "close": 13.688742, "volume": 109923, "typical_volume": 240904.55, "trend": 14.136533, "fair_value": 12.655485, "relative_strength": -1.390458, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -25.547739, "energy": 28.296672, "activity_lines": [ 14.073658, 14.437833, 14.600026, 14.44537 ] }, { "date": "2023-08-25", "close": 13.000481, "volume": 135397, "typical_volume": 232769.75, "trend": 14.141029, "fair_value": 12.659155, "relative_strength": -7.599978, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -42.224716, "energy": 56.981706, "activity_lines": [ 13.640309, 14.150363, 14.442121, 14.372076 ] }, { "date": "2023-09-01", "close": 12.866652, "volume": 140120, "typical_volume": 226562.9, "trend": 14.134442, "fair_value": 12.661339, "relative_strength": -9.638239, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -49.412235, "energy": 70.328996, "activity_lines": [ 13.280883, 13.86324, 14.273261, 14.289858 ] }, { "date": "2023-09-08", "close": 12.426929, "volume": 241150, "typical_volume": 212146.2, "trend": 14.107207, "fair_value": 12.658897, "relative_strength": -11.190244, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -55.703386, "energy": 76.842233, "activity_lines": [ 12.926556, 13.528495, 14.069274, 14.179696 ] }, { "date": "2023-09-15", "close": 12.388693, "volume": 102775, "typical_volume": 204524.95, "trend": 14.074598, "fair_value": 12.656112, "relative_strength": -13.251596, "stage": 4, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -77.119206, "energy": 86.67795, "activity_lines": [ 12.662723, 13.22851, 13.876528, 14.068824 ] }, { "date": "2023-09-22", "close": 12.216629, "volume": 369544, "typical_volume": 204268.25, "trend": 14.030262, "fair_value": 12.651627, "relative_strength": -13.322866, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -75.373274, "energy": 85.689559, "activity_lines": [ 12.443499, 12.950078, 13.68246, 13.948955 ] }, { "date": "2023-09-29", "close": 12.273984, "volume": 257911, "typical_volume": 206432.7, "trend": 14.012434, "fair_value": 12.647813, "relative_strength": -11.729282, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -69.905848, "energy": 80.087718, "activity_lines": [ 12.341535, 12.738038, 13.507845, 13.835647 ] }, { "date": "2023-10-06", "close": 12.618114, "volume": 190383, "typical_volume": 195921.2, "trend": 14.015221, "fair_value": 12.647516, "relative_strength": -7.749375, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -65.166392, "energy": 60.556177, "activity_lines": [ 12.402714, 12.634104, 13.377294, 13.745691 ] }, { "date": "2023-10-13", "close": 11.929852, "volume": 184180, "typical_volume": 196970.1, "trend": 13.973624, "fair_value": 12.64041, "relative_strength": -13.934013, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -74.029019, "energy": 59.168442, "activity_lines": [ 12.251041, 12.450915, 13.190481, 13.611151 ] }, { "date": "2023-10-20", "close": 11.62396, "volume": 114452, "typical_volume": 195151.6, "trend": 13.903541, "fair_value": 12.630445, "relative_strength": -13.295412, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -76.850494, "energy": 61.513691, "activity_lines": [ 12.030543, 12.249303, 12.989192, 13.45956 ] }, { "date": "2023-10-27", "close": 12.732824, "volume": 330748, "typical_volume": 204457.85, "trend": 13.90826, "fair_value": 12.631439, "relative_strength": -4.889175, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -60.261243, "energy": 47.183019, "activity_lines": [ 12.230649, 12.291016, 12.908895, 13.38403 ] }, { "date": "2023-11-03", "close": 13.344611, "volume": 423503, "typical_volume": 211656.15, "trend": 13.907199, "fair_value": 12.638296, "relative_strength": -5.390402, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -45.719257, "energy": 34.664827, "activity_lines": [ 12.60027, 12.461343, 12.894602, 13.347665 ] }, { "date": "2023-11-10", "close": 12.981362, "volume": 575755, "typical_volume": 235892.7, "trend": 13.863758, "fair_value": 12.641563, "relative_strength": -7.367884, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -37.755663, "energy": 21.481097, "activity_lines": [ 12.777433, 12.559368, 12.850538, 13.287934 ] }, { "date": "2023-11-17", "close": 13.287256, "volume": 200238, "typical_volume": 236374.55, "trend": 13.788259, "fair_value": 12.647655, "relative_strength": -8.363492, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -26.334379, "energy": 25.062914, "activity_lines": [ 13.032345, 12.710925, 12.843528, 13.25074 ] }, { "date": "2023-11-24", "close": 13.325493, "volume": 157143, "typical_volume": 232794.35, "trend": 13.714035, "fair_value": 12.65399, "relative_strength": -7.873086, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -7.740651, "energy": 18.868362, "activity_lines": [ 13.209508, 12.853791, 12.846988, 13.220884 ] }, { "date": "2023-12-01", "close": 13.325493, "volume": 129186, "typical_volume": 224527.8, "trend": 13.653054, "fair_value": 12.660207, "relative_strength": -9.278359, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -5.69351, "energy": 15.882957, "activity_lines": [ 13.273236, 12.979624, 12.859824, 13.195817 ] }, { "date": "2023-12-08", "close": 13.421084, "volume": 189183, "typical_volume": 226867.75, "trend": 13.612268, "fair_value": 12.667188, "relative_strength": -9.914779, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -1.111508, "energy": 14.955896, "activity_lines": [ 13.329316, 13.102677, 12.891142, 13.180851 ] }, { "date": "2023-12-15", "close": 14.262292, "volume": 471003, "typical_volume": 243222.75, "trend": 13.602072, "fair_value": 12.681689, "relative_strength": -3.991445, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 36.850458, "energy": 38.561121, "activity_lines": [ 13.660701, 13.35782, 13.009038, 13.222788 ] }, { "date": "2023-12-22", "close": 13.59315, "volume": 528451, "typical_volume": 250585.8, "trend": 13.554913, "fair_value": 12.6899, "relative_strength": -8.263044, "stage": 4, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 20.732126, "energy": 37.150502, "activity_lines": [ 13.683643, 13.461407, 13.067395, 13.222213 ] }, { "date": "2023-12-29", "close": 13.669623, "volume": 73229, "typical_volume": 246213.7, "trend": 13.515402, "fair_value": 12.698648, "relative_strength": -7.538446, "stage": 4, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 20.205681, "energy": 35.431474, "activity_lines": [ 13.711683, 13.548656, 13.134855, 13.229613 ] }, { "date": "2024-01-05", "close": 13.707861, "volume": 64162, "typical_volume": 243925.65, "trend": 13.493734, "fair_value": 12.707579, "relative_strength": -7.410261, "stage": 4, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 18.967585, "energy": 31.126087, "activity_lines": [ 13.729528, 13.605664, 13.207141, 13.24203 ] }, { "date": "2024-01-12", "close": 13.574032, "volume": 109945, "typical_volume": 242653.05, "trend": 13.467606, "fair_value": 12.715179, "relative_strength": -8.356785, "stage": 4, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 23.141579, "energy": 19.402811, "activity_lines": [ 13.677271, 13.620611, 13.26659, 13.24721 ] }, { "date": "2024-01-19", "close": 13.382848, "volume": 105157, "typical_volume": 240904.9, "trend": 13.425546, "fair_value": 12.720985, "relative_strength": -9.002543, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 9.763613, "energy": 10.714968, "activity_lines": [ 13.55109, 13.596626, 13.3051, 13.241742 ] }, { "date": "2024-01-26", "close": 13.784333, "volume": 181743, "typical_volume": 237934.55, "trend": 13.394319, "fair_value": 12.730152, "relative_strength": -6.443747, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 15.381385, "energy": 13.338926, "activity_lines": [ 13.617367, 13.638339, 13.379388, 13.26489 ] }, { "date": "2024-02-02", "close": 13.038717, "volume": 413601, "typical_volume": 253475.85, "trend": 13.31912, "fair_value": 12.732789, "relative_strength": -12.271304, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -3.807661, "energy": 7.387261, "activity_lines": [ 13.422359, 13.535447, 13.376202, 13.241948 ] }, { "date": "2024-02-09", "close": 13.784333, "volume": 330293, "typical_volume": 251513.3, "trend": 13.268775, "fair_value": 12.741701, "relative_strength": -8.400876, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 40.757286, "energy": 18.348383, "activity_lines": [ 13.517951, 13.573336, 13.440931, 13.271961 ] }, { "date": "2024-02-16", "close": 14.472594, "volume": 596634, "typical_volume": 268449.45, "trend": 13.258579, "fair_value": 12.756246, "relative_strength": -5.476705, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 68.686486, "energy": 45.746432, "activity_lines": [ 13.837864, 13.728021, 13.563744, 13.349627 ] }, { "date": "2024-02-23", "close": 14.204937, "volume": 302130, "typical_volume": 274036.8, "trend": 13.227352, "fair_value": 12.768318, "relative_strength": -9.730738, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 59.332578, "energy": 48.085771, "activity_lines": [ 14.008655, 13.814923, 13.650596, 13.410683 ] }, { "date": "2024-03-01", "close": 13.382848, "volume": 1475028, "typical_volume": 338579.2, "trend": 13.207596, "fair_value": 12.773397, "relative_strength": -15.374045, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 48.142218, "energy": 37.078588, "activity_lines": [ 13.85061, 13.753396, 13.651597, 13.420715 ] }, { "date": "2024-03-08", "close": 13.13431, "volume": 390354, "typical_volume": 352374.3, "trend": 13.181468, "fair_value": 12.776355, "relative_strength": -17.896424, "stage": 4, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 23.772854, "energy": 15.852538, "activity_lines": [ 13.636485, 13.650505, 13.622009, 13.415986 ] }, { "date": "2024-03-15", "close": 12.924007, "volume": 252822, "typical_volume": 348478.0, "trend": 13.155977, "fair_value": 12.777556, "relative_strength": -20.050008, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 1.46395, "energy": 9.216067, "activity_lines": [ 13.345886, 13.51911, 13.565201, 13.399376 ] }, { "date": "2024-03-22", "close": 12.312221, "volume": 317922, "typical_volume": 343198.95, "trend": 13.133035, "fair_value": 12.773803, "relative_strength": -24.205281, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -32.972089, "energy": 33.233565, "activity_lines": [ 12.908713, 13.290732, 13.449216, 13.34494 ] }, { "date": "2024-03-29", "close": 12.828416, "volume": 202233, "typical_volume": 324522.85, "trend": 13.13176, "fair_value": 12.77424, "relative_strength": -21.646887, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -18.992361, "energy": 36.388048, "activity_lines": [ 12.78763, 13.179151, 13.387309, 13.325287 ] }, { "date": "2024-04-05", "close": 13.000481, "volume": 299552, "typical_volume": 329488.55, "trend": 13.150879, "fair_value": 12.776036, "relative_strength": -18.507134, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -19.201523, "energy": 38.477423, "activity_lines": [ 12.81567, 13.108934, 13.342517, 13.316818 ] }, { "date": "2024-04-12", "close": 13.115191, "volume": 372278, "typical_volume": 340245.3, "trend": 13.175095, "fair_value": 12.778706, "relative_strength": -16.763254, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -24.37728, "energy": 31.316649, "activity_lines": [ 12.907438, 13.073826, 13.310016, 13.314515 ] }, { "date": "2024-04-19", "close": 12.771061, "volume": 432395, "typical_volume": 355405.75, "trend": 13.193576, "fair_value": 12.778646, "relative_strength": -18.708311, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -25.331689, "energy": 18.25442, "activity_lines": [ 12.885771, 12.974758, 13.245742, 13.288449 ] }, { "date": "2024-04-26", "close": 12.656351, "volume": 247905, "typical_volume": 358341.85, "trend": 13.206322, "fair_value": 12.777698, "relative_strength": -19.525482, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -27.668644, "energy": 19.029779, "activity_lines": [ 12.836063, 12.873257, 13.173183, 13.253789 ] }, { "date": "2024-05-03", "close": 12.88577, "volume": 198821, "typical_volume": 344732.75, "trend": 13.215244, "fair_value": 12.77853, "relative_strength": -15.951988, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -21.227053, "energy": 17.02649, "activity_lines": [ 12.839887, 12.846491, 13.126116, 13.233108 ] }, { "date": "2024-05-10", "close": 13.43539, "volume": 268347, "typical_volume": 331727.55, "trend": 13.265428, "fair_value": 12.783544, "relative_strength": -14.432813, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -28.416345, "energy": 15.567159, "activity_lines": [ 13.023093, 12.943641, 13.137948, 13.247311 ] }, { "date": "2024-05-17", "close": 14.773113, "volume": 439894, "typical_volume": 350060.8, "trend": 13.3704, "fair_value": 12.798616, "relative_strength": -7.445144, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 31.481114, "energy": 24.164889, "activity_lines": [ 13.623213, 13.283058, 13.277933, 13.344581 ] }, { "date": "2024-05-24", "close": 15.141473, "volume": 264278, "typical_volume": 360066.6, "trend": 13.450688, "fair_value": 12.816232, "relative_strength": -2.12732, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 49.07821, "energy": 58.356513, "activity_lines": [ 14.235592, 13.659653, 13.447746, 13.458844 ] }, { "date": "2024-05-31", "close": 15.50983, "volume": 632153, "typical_volume": 386177.0, "trend": 13.522862, "fair_value": 12.836333, "relative_strength": 0.678716, "stage": 2, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 81.213828, "energy": 84.103774, "activity_lines": [ 14.812729, 14.062905, 13.645813, 13.591692 ] }, { "date": "2024-06-07", "close": 15.393507, "volume": 256868, "typical_volume": 393762.55, "trend": 13.603267, "fair_value": 12.855275, "relative_strength": -0.19771, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 73.852222, "energy": 85.299138, "activity_lines": [ 15.160859, 14.386868, 13.823584, 13.712378 ] }, { "date": "2024-06-14", "close": 15.199635, "volume": 383923, "typical_volume": 403871.55, "trend": 13.667013, "fair_value": 12.872513, "relative_strength": 4.790386, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 66.687235, "energy": 81.884031, "activity_lines": [ 15.277183, 14.628944, 13.973317, 13.81537 ] }, { "date": "2024-06-21", "close": 15.529219, "volume": 649850, "typical_volume": 415684.0, "trend": 13.740471, "fair_value": 12.891905, "relative_strength": 5.321038, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 70.09522, "energy": 79.797445, "activity_lines": [ 15.385753, 14.89096, 14.147699, 13.935512 ] }, { "date": "2024-06-28", "close": 14.676178, "volume": 689977, "typical_volume": 433668.2, "trend": 13.785493, "fair_value": 12.904835, "relative_strength": 0.344407, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 61.500398, "energy": 49.475609, "activity_lines": [ 15.159568, 14.953986, 14.228979, 13.99588 ] }, { "date": "2024-07-05", "close": 15.277183, "volume": 390600, "typical_volume": 423366.5, "trend": 13.847363, "fair_value": 12.921902, "relative_strength": 2.341641, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 62.566147, "energy": 45.186093, "activity_lines": [ 15.164737, 15.091647, 14.363251, 14.092118 ] }, { "date": "2024-07-12", "close": 15.703704, "volume": 258050, "typical_volume": 421162.5, "trend": 13.895411, "fair_value": 12.941772, "relative_strength": 3.756059, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 69.125122, "energy": 47.512301, "activity_lines": [ 15.327591, 15.259206, 14.534313, 14.211882 ] }, { "date": "2024-07-19", "close": 15.839415, "volume": 315274, "typical_volume": 363174.8, "trend": 13.970286, "fair_value": 12.962323, "relative_strength": 5.998431, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 67.514795, "energy": 46.945323, "activity_lines": [ 15.515001, 15.400205, 14.711162, 14.337302 ] }, { "date": "2024-07-26", "close": 16.30471, "volume": 262148, "typical_volume": 356764.5, "trend": 14.058122, "fair_value": 12.985861, "relative_strength": 10.567169, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 74.939021, "energy": 59.01763, "activity_lines": [ 15.814858, 15.582093, 14.920628, 14.48791 ] }, { "date": "2024-08-02", "close": 15.897577, "volume": 328783, "typical_volume": 360562.55, "trend": 14.131113, "fair_value": 13.006222, "relative_strength": 13.805021, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 61.131908, "energy": 55.408111, "activity_lines": [ 15.927304, 15.662109, 15.076222, 14.606585 ] }, { "date": "2024-08-09", "close": 15.277183, "volume": 300956, "typical_volume": 359714.25, "trend": 14.187884, "fair_value": 13.021993, "relative_strength": 10.235528, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 58.794399, "energy": 44.181187, "activity_lines": [ 15.751526, 15.61558, 15.15857, 14.680525 ] }, { "date": "2024-08-16", "close": 15.257796, "volume": 221514, "typical_volume": 360678.3, "trend": 14.250383, "fair_value": 13.037412, "relative_strength": 6.046878, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 45.551509, "energy": 34.094942, "activity_lines": [ 15.569285, 15.569755, 15.224954, 14.749551 ] }, { "date": "2024-08-23", "close": 15.412893, "volume": 228672, "typical_volume": 357134.3, "trend": 14.304668, "fair_value": 13.053683, "relative_strength": 5.199314, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 39.551149, "energy": 24.541678, "activity_lines": [ 15.468471, 15.554598, 15.29454, 14.824552 ] }, { "date": "2024-08-30", "close": 15.567992, "volume": 471611, "typical_volume": 362100.95, "trend": 14.388977, "fair_value": 13.070787, "relative_strength": 4.005376, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 37.174533, "energy": 20.187713, "activity_lines": [ 15.447791, 15.563762, 15.36741, 14.906057 ] }, { "date": "2024-09-06", "close": 14.966986, "volume": 242902, "typical_volume": 352626.3, "trend": 14.428399, "fair_value": 13.083599, "relative_strength": 3.197084, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 32.273307, "energy": 18.493846, "activity_lines": [ 15.27589, 15.462948, 15.371361, 14.943347 ] }, { "date": "2024-09-13", "close": 14.482304, "volume": 432432, "typical_volume": 361852.65, "trend": 14.428723, "fair_value": 13.092986, "relative_strength": -0.980513, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 2.579745, "energy": 10.230464, "activity_lines": [ 15.004468, 15.268723, 15.318695, 14.946825 ] }, { "date": "2024-09-20", "close": 13.823136, "volume": 1812399, "typical_volume": 442531.55, "trend": 14.415996, "fair_value": 13.097854, "relative_strength": -5.955437, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -15.467256, "energy": 25.872175, "activity_lines": [ 14.566315, 14.969101, 15.194556, 14.907755 ] }, { "date": "2024-09-27", "close": 15.277183, "volume": 461988, "typical_volume": 452213.6, "trend": 14.47914, "fair_value": 13.112287, "relative_strength": 1.025012, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 9.224682, "energy": 20.55264, "activity_lines": [ 14.708489, 14.968044, 15.204435, 14.963315 ] }, { "date": "2024-10-04", "close": 15.432281, "volume": 719869, "typical_volume": 466212.35, "trend": 14.55574, "fair_value": 13.12755, "relative_strength": 5.466039, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 18.153735, "energy": 17.570367, "activity_lines": [ 14.911409, 15.005408, 15.220314, 15.024808 ] }, { "date": "2024-10-11", "close": 16.033289, "volume": 379328, "typical_volume": 471964.85, "trend": 14.659382, "fair_value": 13.146541, "relative_strength": 7.081005, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 49.031563, "energy": 22.715821, "activity_lines": [ 15.323713, 15.167909, 15.290293, 15.120134 ] }, { "date": "2024-10-18", "close": 15.257796, "volume": 456789, "typical_volume": 463196.65, "trend": 14.757568, "fair_value": 13.160251, "relative_strength": -0.729056, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 35.233451, "energy": 25.938021, "activity_lines": [ 15.406432, 15.186944, 15.282168, 15.158742 ] }, { "date": "2024-10-25", "close": 14.773113, "volume": 270873, "typical_volume": 463896.9, "trend": 14.822391, "fair_value": 13.170656, "relative_strength": -2.520015, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 23.021568, "energy": 17.297192, "activity_lines": [ 15.275891, 15.118207, 15.229084, 15.159744 ] }, { "date": "2024-11-01", "close": 14.191496, "volume": 360816, "typical_volume": 462741.55, "trend": 14.862092, "fair_value": 13.1772, "relative_strength": -5.854622, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -2.021671, "energy": 3.755461, "activity_lines": [ 14.888145, 14.952534, 15.123562, 15.119042 ] }, { "date": "2024-11-08", "close": 14.210883, "volume": 482658, "typical_volume": 454381.95, "trend": 14.898615, "fair_value": 13.173453, "relative_strength": -3.180579, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -30.913194, "energy": 36.814086, "activity_lines": [ 14.579241, 14.812594, 15.024687, 15.077028 ] }, { "date": "2024-11-15", "close": 13.687425, "volume": 285748, "typical_volume": 434170.5, "trend": 14.92916, "fair_value": 13.1672, "relative_strength": -7.564342, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -41.349764, "energy": 55.052951, "activity_lines": [ 14.177278, 14.602153, 14.882236, 14.998887 ] }, { "date": "2024-11-22", "close": 13.260905, "volume": 334591, "typical_volume": 431370.05, "trend": 14.949312, "fair_value": 13.160031, "relative_strength": -8.349849, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -74.456506, "energy": 73.927853, "activity_lines": [ 13.789532, 14.337429, 14.703873, 14.891257 ] }, { "date": "2024-11-29", "close": 13.260905, "volume": 278990, "typical_volume": 432417.05, "trend": 14.961817, "fair_value": 13.155288, "relative_strength": -7.932063, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -71.319228, "energy": 74.952319, "activity_lines": [ 13.534912, 14.094911, 14.535112, 14.782328 ] }, { "date": "2024-12-06", "close": 13.202744, "volume": 244100, "typical_volume": 428858.35, "trend": 14.954062, "fair_value": 13.148353, "relative_strength": -11.61488, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -69.140548, "energy": 74.608176, "activity_lines": [ 13.361719, 13.852041, 14.372443, 14.668839 ] }, { "date": "2024-12-13", "close": 14.094559, "volume": 548289, "typical_volume": 443165.4, "trend": 14.931443, "fair_value": 13.152229, "relative_strength": -5.744083, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -61.207172, "energy": 56.470049, "activity_lines": [ 13.551715, 13.809037, 14.307265, 14.613388 ] }, { "date": "2024-12-20", "close": 13.416003, "volume": 595787, "typical_volume": 456515.6, "trend": 14.873928, "fair_value": 13.150906, "relative_strength": -7.087403, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -62.042322, "energy": 43.344159, "activity_lines": [ 13.52328, 13.666981, 14.187987, 14.515617 ] }, { "date": "2024-12-27", "close": 13.416003, "volume": 55685, "typical_volume": 444252.05, "trend": 14.804133, "fair_value": 13.151645, "relative_strength": -7.923064, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -61.519133, "energy": 41.630044, "activity_lines": [ 13.51294, 13.572512, 14.080526, 14.421558 ] }, { "date": "2025-01-03", "close": 13.416003, "volume": 121436, "typical_volume": 439248.15, "trend": 14.738217, "fair_value": 13.157114, "relative_strength": -7.595717, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -59.481148, "energy": 37.772495, "activity_lines": [ 13.49226, 13.51153, 13.981928, 14.332001 ] }, { "date": "2025-01-10", "close": 13.590489, "volume": 296313, "typical_volume": 442630.2, "trend": 14.684578, "fair_value": 13.161033, "relative_strength": -8.720134, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -46.775799, "energy": 33.731342, "activity_lines": [ 13.519402, 13.506947, 13.908718, 14.257954 ] }, { "date": "2025-01-17", "close": 14.521079, "volume": 947987, "typical_volume": 466449.0, "trend": 14.650974, "fair_value": 13.175405, "relative_strength": -5.459745, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -29.385911, "energy": 18.333037, "activity_lines": [ 13.830891, 13.68249, 13.932813, 14.247405 ] }, { "date": "2025-01-24", "close": 13.668039, "volume": 316957, "typical_volume": 470151.75, "trend": 14.617369, "fair_value": 13.189038, "relative_strength": -10.539325, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -37.471344, "energy": 18.403076, "activity_lines": [ 13.829599, 13.697295, 13.880652, 14.18399 ] }, { "date": "2025-01-31", "close": 13.803749, "volume": 315167, "typical_volume": 464288.5, "trend": 14.568255, "fair_value": 13.198448, "relative_strength": -10.134073, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -32.774901, "energy": 18.327926, "activity_lines": [ 13.856741, 13.737127, 13.847601, 14.131499 ] }, { "date": "2025-02-07", "close": 12.950707, "volume": 401980, "typical_volume": 393767.55, "trend": 14.476488, "fair_value": 13.204209, "relative_strength": -16.662686, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -64.163001, "energy": 30.356091, "activity_lines": [ 13.573686, 13.611991, 13.73654, 14.027141 ] }, { "date": "2025-02-14", "close": 13.668039, "volume": 361365, "typical_volume": 388736.4, "trend": 14.404109, "fair_value": 13.214204, "relative_strength": -13.801709, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -46.651661, "energy": 29.098942, "activity_lines": [ 13.560762, 13.622919, 13.69795, 13.974983 ] }, { "date": "2025-02-21", "close": 13.823136, "volume": 317896, "typical_volume": 368637.75, "trend": 14.32139, "fair_value": 13.2258, "relative_strength": -13.531597, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -45.133393, "energy": 27.019627, "activity_lines": [ 13.594366, 13.653586, 13.681794, 13.937501 ] }, { "date": "2025-02-28", "close": 13.881298, "volume": 434872, "typical_volume": 371414.95, "trend": 14.25418, "fair_value": 13.247471, "relative_strength": -13.504542, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -34.742902, "energy": 20.627378, "activity_lines": [ 13.693888, 13.699763, 13.67884, 13.909108 ] }, { "date": "2025-03-07", "close": 12.989483, "volume": 461121, "typical_volume": 371631.55, "trend": 14.177924, "fair_value": 13.259423, "relative_strength": -18.718313, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -57.724195, "energy": 27.942798, "activity_lines": [ 13.48192, 13.575332, 13.601198, 13.827514 ] }, { "date": "2025-03-14", "close": 12.6599, "volume": 474719, "typical_volume": 381823.85, "trend": 14.091327, "fair_value": 13.265503, "relative_strength": -20.71155, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -65.562229, "energy": 41.115064, "activity_lines": [ 13.214376, 13.398731, 13.502969, 13.729577 ] }, { "date": "2025-03-21", "close": 12.524188, "volume": 909346, "typical_volume": 409250.35, "trend": 13.995037, "fair_value": 13.273138, "relative_strength": -22.190661, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -67.705799, "energy": 61.453681, "activity_lines": [ 12.920981, 13.211203, 13.401878, 13.628471 ] }, { "date": "2025-03-28", "close": 12.892547, "volume": 384778, "typical_volume": 404356.35, "trend": 13.905856, "fair_value": 13.28174, "relative_strength": -19.150969, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -57.312449, "energy": 62.515032, "activity_lines": [ 12.82663, 13.110037, 13.343809, 13.557343 ] }, { "date": "2025-04-04", "close": 12.427251, "volume": 884430, "typical_volume": 434290.45, "trend": 13.821198, "fair_value": 13.285904, "relative_strength": -12.773671, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -65.634893, "energy": 66.027435, "activity_lines": [ 12.639219, 12.953881, 13.247703, 13.461949 ] }, { "date": "2025-04-11", "close": 11.632373, "volume": 679139, "typical_volume": 451517.85, "trend": 13.7262, "fair_value": 13.284608, "relative_strength": -16.681301, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -78.04547, "energy": 71.600195, "activity_lines": [ 12.283786, 12.675761, 13.081896, 13.320735 ] }, { "date": "2025-04-18", "close": 11.768085, "volume": 443676, "typical_volume": 459752.15, "trend": 13.657698, "fair_value": 13.277573, "relative_strength": -20.097167, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -70.924789, "energy": 67.809511, "activity_lines": [ 12.064063, 12.461797, 12.936768, 13.194405 ] }, { "date": "2025-04-25", "close": 12.252767, "volume": 471595, "typical_volume": 471126.9, "trend": 13.556884, "fair_value": 13.274858, "relative_strength": -19.697129, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -61.065744, "energy": 59.822516, "activity_lines": [ 12.065356, 12.357458, 12.844909, 13.103764 ] }, { "date": "2025-05-02", "close": 13.086419, "volume": 195059, "typical_volume": 453465.4, "trend": 13.478689, "fair_value": 13.286036, "relative_strength": -16.261904, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -53.575905, "energy": 38.074721, "activity_lines": [ 12.362628, 12.430424, 12.83697, 13.073411 ] }, { "date": "2025-05-09", "close": 12.906563, "volume": 397333, "typical_volume": 443542.7, "trend": 13.374465, "fair_value": 13.294546, "relative_strength": -19.371039, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -38.60874, "energy": 22.649576, "activity_lines": [ 12.587022, 12.484085, 12.816702, 13.0365 ] }, { "date": "2025-05-16", "close": 13.280381, "volume": 375144, "typical_volume": 459515.65, "trend": 13.308551, "fair_value": 13.30812, "relative_strength": -19.313956, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -20.605361, "energy": 17.573677, "activity_lines": [ 12.904069, 12.623434, 12.834461, 13.03043 ] }, { "date": "2025-05-23", "close": 13.713223, "volume": 271778, "typical_volume": 467032.75, "trend": 13.273221, "fair_value": 13.319497, "relative_strength": -13.816544, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -4.778176, "energy": 18.823078, "activity_lines": [ 13.255529, 12.836194, 12.89409, 13.056538 ] }, { "date": "2025-05-30", "close": 14.047691, "volume": 280163, "typical_volume": 466225.25, "trend": 13.268428, "fair_value": 13.329803, "relative_strength": -12.648794, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 30.364417, "energy": 32.013201, "activity_lines": [ 13.588802, 13.090614, 12.984157, 13.106504 ] }, { "date": "2025-06-06", "close": 13.241032, "volume": 242396, "typical_volume": 430945.7, "trend": 13.2361, "fair_value": 13.336091, "relative_strength": -18.246622, "stage": 3, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 18.811413, "energy": 29.287861, "activity_lines": [ 13.533528, 13.170669, 12.995222, 13.104736 ] }, { "date": "2025-06-13", "close": 13.673873, "volume": 398609, "typical_volume": 435028.3, "trend": 13.235648, "fair_value": 13.341757, "relative_strength": -12.584714, "stage": 4, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 21.403743, "energy": 36.43118, "activity_lines": [ 13.612226, 13.323086, 13.053606, 13.13298 ] }, { "date": "2025-06-20", "close": 12.631118, "volume": 376532, "typical_volume": 438096.55, "trend": 13.214655, "fair_value": 13.345106, "relative_strength": -18.251025, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 0.822025, "energy": 8.50476, "activity_lines": [ 13.292186, 13.263245, 13.012652, 13.093978 ] }, { "date": "2025-06-27", "close": 12.493395, "volume": 264198, "typical_volume": 431207.45, "trend": 13.189071, "fair_value": 13.348966, "relative_strength": -19.678837, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -39.529661, "energy": 21.306006, "activity_lines": [ 12.969521, 13.160205, 12.964165, 13.047445 ] }, { "date": "2025-07-04", "close": 12.749166, "volume": 195205, "typical_volume": 422899.45, "trend": 13.173952, "fair_value": 13.351555, "relative_strength": -17.267031, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -34.502088, "energy": 22.76798, "activity_lines": [ 12.813436, 13.090482, 12.942216, 13.019064 ] }, { "date": "2025-07-11", "close": 12.473722, "volume": 389759, "typical_volume": 426492.6, "trend": 13.119924, "fair_value": 13.354682, "relative_strength": -19.406076, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -46.122947, "energy": 33.76558, "activity_lines": [ 12.652105, 12.961652, 12.898409, 12.973888 ] }, { "date": "2025-07-18", "close": 11.883482, "volume": 787961, "typical_volume": 444147.05, "trend": 13.06884, "fair_value": 13.351661, "relative_strength": -23.020831, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -69.533485, "energy": 60.767127, "activity_lines": [ 12.34518, 12.736646, 12.804814, 12.894117 ] }, { "date": "2025-07-25", "close": 11.647387, "volume": 297108, "typical_volume": 435946.4, "trend": 13.009886, "fair_value": 13.345975, "relative_strength": -24.573955, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -75.297391, "energy": 71.178466, "activity_lines": [ 12.078917, 12.487315, 12.698248, 12.802411 ] }, { "date": "2025-08-01", "close": 11.391616, "volume": 326377, "typical_volume": 428529.3, "trend": 12.942407, "fair_value": 13.340771, "relative_strength": -23.969345, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -77.850379, "energy": 77.856566, "activity_lines": [ 11.792979, 12.22117, 12.573714, 12.698006 ] }, { "date": "2025-08-08", "close": 11.726085, "volume": 779980, "typical_volume": 422061.0, "trend": 12.88026, "fair_value": 13.340683, "relative_strength": -24.123692, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -63.386616, "energy": 70.969449, "activity_lines": [ 11.691982, 12.05805, 12.487073, 12.619534 ] }, { "date": "2025-08-15", "close": 11.509664, "volume": 344753, "typical_volume": 420059.75, "trend": 12.779879, "fair_value": 13.339571, "relative_strength": -26.592709, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -65.69143, "energy": 68.324783, "activity_lines": [ 11.587051, 11.897791, 12.383621, 12.531108 ] }, { "date": "2025-08-22", "close": 11.844132, "volume": 180222, "typical_volume": 384849.35, "trend": 12.719082, "fair_value": 13.341756, "relative_strength": -24.878356, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -60.034011, "energy": 49.559869, "activity_lines": [ 11.657879, 11.829824, 12.318608, 12.470737 ] }, { "date": "2025-08-29", "close": 11.745759, "volume": 241369, "typical_volume": 362960.85, "trend": 12.650483, "fair_value": 13.340884, "relative_strength": -22.823876, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -56.025678, "energy": 38.907522, "activity_lines": [ 11.69854, 11.777239, 12.247003, 12.407942 ] }, { "date": "2025-09-05", "close": 11.293242, "volume": 307285, "typical_volume": 356141.3, "trend": 12.595234, "fair_value": 13.34075, "relative_strength": -24.026861, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -65.439593, "energy": 42.765321, "activity_lines": [ 11.581804, 11.658475, 12.131762, 12.320378 ] }, { "date": "2025-09-12", "close": 11.234219, "volume": 255550, "typical_volume": 345339.05, "trend": 12.514107, "fair_value": 13.341875, "relative_strength": -25.452687, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -64.210171, "energy": 43.659457, "activity_lines": [ 11.451951, 11.550802, 12.01316, 12.232571 ] }, { "date": "2025-09-19", "close": 12.316324, "volume": 773269, "typical_volume": 374249.55, "trend": 12.463879, "fair_value": 13.35594, "relative_strength": -17.249561, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -38.753192, "energy": 27.421852, "activity_lines": [ 11.715591, 11.667418, 12.002467, 12.219811 ] }, { "date": "2025-09-26", "close": 11.844132, "volume": 492813, "typical_volume": 379023.55, "trend": 12.395974, "fair_value": 13.368191, "relative_strength": -20.339, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -38.491214, "energy": 24.915962, "activity_lines": [ 11.768057, 11.701044, 11.950469, 12.179827 ] }, { "date": "2025-10-03", "close": 12.139252, "volume": 447915, "typical_volume": 382662.1, "trend": 12.367633, "fair_value": 13.381666, "relative_strength": -18.707663, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -32.609346, "energy": 17.395096, "activity_lines": [ 11.918896, 11.789043, 11.931638, 12.163264 ] }, { "date": "2025-10-10", "close": 11.608037, "volume": 341811, "typical_volume": 386163.75, "trend": 12.332571, "fair_value": 13.392889, "relative_strength": -19.166779, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -37.604696, "energy": 21.410993, "activity_lines": [ 11.86643, 11.771515, 11.867648, 12.114258 ] }, { "date": "2025-10-17", "close": 12.00153, "volume": 429891, "typical_volume": 393650.15, "trend": 12.315149, "fair_value": 13.405057, "relative_strength": -15.148685, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -30.456267, "energy": 15.045539, "activity_lines": [ 11.924143, 11.821596, 11.851159, 12.092901 ] }, { "date": "2025-10-24", "close": 12.00153, "volume": 720019, "typical_volume": 417531.3, "trend": 12.285448, "fair_value": 13.418802, "relative_strength": -15.925177, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -18.956151, "energy": 10.805546, "activity_lines": [ 11.930701, 11.866669, 11.844414, 12.072667 ] }, { "date": "2025-10-31", "close": 11.608037, "volume": 535330, "typical_volume": 424367.35, "trend": 12.258141, "fair_value": 13.433663, "relative_strength": -19.329266, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -40.164001, "energy": 20.129671, "activity_lines": [ 11.827081, 11.831255, 11.806095, 12.028963 ] }, { "date": "2025-11-07", "close": 11.234219, "volume": 611177, "typical_volume": 436099.6, "trend": 12.244869, "fair_value": 13.432302, "relative_strength": -20.734832, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -61.536882, "energy": 35.620529, "activity_lines": [ 11.614595, 11.732166, 11.742012, 11.962904 ] }, { "date": "2025-11-14", "close": 10.998123, "volume": 555388, "typical_volume": 450659.1, "trend": 12.219204, "fair_value": 13.430822, "relative_strength": -23.631761, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -68.083338, "energy": 56.869225, "activity_lines": [ 11.383746, 11.599452, 11.662095, 11.882469 ] }, { "date": "2025-11-21", "close": 11.214543, "volume": 425570, "typical_volume": 462177.35, "trend": 12.184597, "fair_value": 13.430062, "relative_strength": -19.06329, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -58.341751, "energy": 58.855046, "activity_lines": [ 11.265698, 11.511452, 11.609911, 11.817652 ] }, { "date": "2025-11-28", "close": 11.352266, "volume": 750607, "typical_volume": 480219.75, "trend": 12.126791, "fair_value": 13.427153, "relative_strength": -18.732937, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -55.815412, "energy": 55.317054, "activity_lines": [ 11.246023, 11.448851, 11.57815, 11.763953 ] }, { "date": "2025-12-05", "close": 11.194869, "volume": 668470, "typical_volume": 474245.2, "trend": 12.069735, "fair_value": 13.423902, "relative_strength": -19.412195, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -57.196044, "energy": 46.047226, "activity_lines": [ 11.217167, 11.37516, 11.53674, 11.703829 ] }, { "date": "2025-12-12", "close": 10.781702, "volume": 805270, "typical_volume": 499653.3, "trend": 11.986446, "fair_value": 13.414364, "relative_strength": -21.796404, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -66.42214, "energy": 41.362888, "activity_lines": [ 11.078133, 11.238153, 11.459259, 11.62073 ] }, { "date": "2025-12-19", "close": 10.919425, "volume": 855641, "typical_volume": 526116.5, "trend": 11.893319, "fair_value": 13.40862, "relative_strength": -22.275317, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -60.492011, "energy": 39.574844, "activity_lines": [ 11.015174, 11.15087, 11.399017, 11.55189 ] }, { "date": "2025-12-26", "close": 10.821052, "volume": 160226, "typical_volume": 495128.8, "trend": 11.785764, "fair_value": 13.400972, "relative_strength": -21.997272, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -62.471049, "energy": 47.408269, "activity_lines": [ 10.924671, 11.05822, 11.331655, 11.482712 ] }, { "date": "2026-01-02", "close": 10.762027, "volume": 317121, "typical_volume": 493747.2, "trend": 11.703131, "fair_value": 13.391065, "relative_strength": -22.991623, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -61.960293, "energy": 50.088009, "activity_lines": [ 10.840726, 10.976302, 11.262981, 11.416664 ] }, { "date": "2026-01-09", "close": 11.647387, "volume": 645663, "typical_volume": 517019.25, "trend": 11.635581, "fair_value": 13.389927, "relative_strength": -16.595056, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -33.446067, "energy": 21.727429, "activity_lines": [ 11.09125, 11.077895, 11.282187, 11.413068 ] }, { "date": "2026-01-16", "close": 12.217951, "volume": 755630, "typical_volume": 542732.3, "trend": 11.621809, "fair_value": 13.391233, "relative_strength": -11.923152, "stage": 1, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -7.680838, "energy": 10.265735, "activity_lines": [ 11.501794, 11.282511, 11.35667, 11.45064 ] }, { "date": "2026-01-23", "close": 12.237625, "volume": 613253, "typical_volume": 558030.7, "trend": 11.613283, "fair_value": 13.387207, "relative_strength": -9.274027, "stage": 1, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "mixed", "direction": 24.019808, "energy": 26.613255, "activity_lines": [ 11.823146, 11.472819, 11.430778, 11.49037 ] }, { "date": "2026-01-30", "close": 12.493395, "volume": 507475, "typical_volume": 570626.95, "trend": 11.604758, "fair_value": 13.383548, "relative_strength": -8.181068, "stage": 1, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 31.691786, "energy": 38.055381, "activity_lines": [ 12.141875, 11.687093, 11.524748, 11.547151 ] }, { "date": "2026-02-06", "close": 12.080228, "volume": 706236, "typical_volume": 567275.3, "trend": 11.591641, "fair_value": 13.376088, "relative_strength": -11.403677, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 21.835218, "energy": 47.300399, "activity_lines": [ 12.211392, 11.802995, 11.573372, 11.577827 ] }, { "date": "2026-02-13", "close": 11.745759, "volume": 378313, "typical_volume": 561550.3, "trend": 11.587051, "fair_value": 13.365695, "relative_strength": -12.436758, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "up", "direction": 55.826123, "energy": 51.86509, "activity_lines": [ 12.08154, 11.844848, 11.591267, 11.58777 ] }, { "date": "2026-02-20", "close": 12.00153, "volume": 344860, "typical_volume": 556397.55, "trend": 11.598855, "fair_value": 13.35579, "relative_strength": -11.953829, "stage": 4, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 52.437889, "energy": 34.208507, "activity_lines": [ 12.030386, 11.923189, 11.633989, 11.61451 ] }, { "date": "2026-02-27", "close": 12.198276, "volume": 332956, "typical_volume": 555954.8, "trend": 11.625744, "fair_value": 13.351877, "relative_strength": -11.321855, "stage": 4, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 55.518115, "energy": 30.020486, "activity_lines": [ 12.059242, 12.015123, 11.696104, 11.653183 ] }, { "date": "2026-03-06", "close": 11.804783, "volume": 800130, "typical_volume": 574466.75, "trend": 11.628367, "fair_value": 13.347199, "relative_strength": -7.817578, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 37.136813, "energy": 18.987638, "activity_lines": [ 11.959557, 12.012261, 11.717934, 11.664734 ] }, { "date": "2026-03-13", "close": 11.293242, "volume": 464619, "typical_volume": 561696.75, "trend": 11.621153, "fair_value": 13.335119, "relative_strength": -11.715043, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 19.07643, "energy": 11.048451, "activity_lines": [ 11.735266, 11.898506, 11.691982, 11.643113 ] }, { "date": "2026-03-20", "close": 11.352266, "volume": 457522, "typical_volume": 557806.35, "trend": 11.604758, "fair_value": 13.3199, "relative_strength": -7.853163, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -1.265701, "energy": 8.034835, "activity_lines": [ 11.583115, 11.785824, 11.675024, 11.625765 ] }, { "date": "2026-03-27", "close": 12.080228, "volume": 372494, "typical_volume": 545872.2, "trend": 11.615907, "fair_value": 13.316624, "relative_strength": -2.807295, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 33.884599, "energy": 18.367149, "activity_lines": [ 11.699851, 11.810864, 11.728614, 11.656441 ] }, { "date": "2026-04-03", "close": 12.099903, "volume": 448047, "typical_volume": 540505.15, "trend": 11.642795, "fair_value": 13.308441, "relative_strength": -6.857082, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 36.925248, "energy": 16.685808, "activity_lines": [ 11.817899, 11.841986, 11.780049, 11.687666 ] }, { "date": "2026-04-10", "close": 11.903156, "volume": 284255, "typical_volume": 533439.4, "trend": 11.665093, "fair_value": 13.293175, "relative_strength": -11.642006, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 41.681219, "energy": 19.023715, "activity_lines": [ 11.876923, 11.83984, 11.8075, 11.704464 ] }, { "date": "2026-04-17", "close": 12.139252, "volume": 352422, "typical_volume": 513530.15, "trend": 11.659191, "fair_value": 13.271297, "relative_strength": -11.740907, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 50.280845, "energy": 32.708707, "activity_lines": [ 12.008088, 11.891351, 11.854157, 11.735055 ] }, { "date": "2026-04-24", "close": 12.198276, "volume": 260333, "typical_volume": 493123.3, "trend": 11.670996, "fair_value": 13.249798, "relative_strength": -8.604079, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 52.698623, "energy": 40.287352, "activity_lines": [ 12.102526, 11.952522, 11.902688, 11.769834 ] }, { "date": "2026-05-01", "close": 11.922831, "volume": 917692, "typical_volume": 498744.4, "trend": 11.663782, "fair_value": 13.229079, "relative_strength": -11.185165, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 48.95917, "energy": 32.695641, "activity_lines": [ 12.048749, 11.955383, 11.920208, 11.786082 ] }, { "date": "2026-05-08", "close": 12.18, "volume": 603150, "typical_volume": 486119.85, "trend": 11.682847, "fair_value": 13.21328, "relative_strength": -10.692998, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 52.580025, "energy": 34.461199, "activity_lines": [ 12.091187, 12.006434, 11.956786, 11.819386 ] }, { "date": "2026-05-15", "close": 11.78, "volume": 336578, "typical_volume": 494937.45, "trend": 11.675463, "fair_value": 13.195407, "relative_strength": -12.793748, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 42.354179, "energy": 19.689211, "activity_lines": [ 11.994953, 11.98509, 11.949266, 11.825654 ] }, { "date": "2026-05-22", "close": 11.96, "volume": 438319, "typical_volume": 500997.35, "trend": 11.674078, "fair_value": 13.175869, "relative_strength": -11.512801, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 31.87436, "energy": 13.35952, "activity_lines": [ 11.966929, 11.996923, 11.954323, 11.844011 ] }, { "date": "2026-05-29", "close": 12.24, "volume": 503008, "typical_volume": 493864.6, "trend": 11.695144, "fair_value": 13.159107, "relative_strength": -9.720239, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 39.632925, "energy": 18.234123, "activity_lines": [ 12.044189, 12.047543, 11.980341, 11.880522 ] }, { "date": "2026-06-05", "close": 12.12, "volume": 62408, "typical_volume": 459203.5, "trend": 11.72467, "fair_value": 13.144761, "relative_strength": -9.814796, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 44.128757, "energy": 19.48198, "activity_lines": [ 12.078667, 12.060204, 11.992109, 11.907932 ] }, { "date": "2026-06-12", "close": 12.34, "volume": 23359, "typical_volume": 429708.8, "trend": 11.769399, "fair_value": 13.131826, "relative_strength": -10.352418, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 53.221064, "energy": 32.384224, "activity_lines": [ 12.173333, 12.112142, 12.025296, 11.947631 ] }, { "date": "2026-06-19", "close": 12.92, "volume": 169441, "typical_volume": 412807.1, "trend": 11.826248, "fair_value": 13.120771, "relative_strength": -8.027221, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 68.725812, "energy": 56.624319, "activity_lines": [ 12.450667, 12.265169, 12.113234, 12.021863 ] }, { "date": "2026-06-26", "close": 12.46, "volume": 31007, "typical_volume": 379045.65, "trend": 11.863172, "fair_value": 13.106276, "relative_strength": -8.086965, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 54.907196, "energy": 53.146251, "activity_lines": [ 12.498667, 12.316072, 12.15533, 12.062751 ] }, { "date": "2026-07-03", "close": 12.96, "volume": 79340, "typical_volume": 364097.0, "trend": 11.92201, "fair_value": 13.09131, "relative_strength": -6.692902, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 69.277696, "energy": 64.33098, "activity_lines": [ 12.68, 12.452051, 12.243237, 12.133514 ] }, { "date": "2026-07-10", "close": 13.0, "volume": 420352, "typical_volume": 367871.6, "trend": 11.995953, "fair_value": 13.076601, "relative_strength": -5.597346, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 67.314224, "energy": 66.684329, "activity_lines": [ 12.826667, 12.581455, 12.329172, 12.203062 ] }, { "date": "2026-07-17", "close": 13.36, "volume": 550652, "typical_volume": 378756.4, "trend": 12.077306, "fair_value": 13.067508, "relative_strength": -1.344079, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 72.855979, "energy": 67.268614, "activity_lines": [ 13.034667, 12.756727, 12.444638, 12.291065 ] }, { "date": "2026-07-24", "close": 12.64, "volume": 205387, "typical_volume": 349019.25, "trend": 12.137937, "fair_value": 13.051471, "relative_strength": -6.226627, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 58.054224, "energy": 50.479676, "activity_lines": [ 12.934667, 12.779636, 12.486, 12.327367 ] }, { "date": "2026-07-31", "close": 13.26, "volume": 348025, "typical_volume": 343189.55, "trend": 12.221203, "fair_value": 13.046884, "relative_strength": -2.101913, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 64.508926, "energy": 47.171509, "activity_lines": [ 13.06, 12.899636, 12.582432, 12.399759 ] }, { "date": "2026-08-07", "close": 13.94, "volume": 1153935, "typical_volume": 378010.2, "trend": 12.297623, "fair_value": 13.047024, "relative_strength": 0.124991, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 77.222328, "energy": 56.775012, "activity_lines": [ 13.358667, 13.119636, 12.734261, 12.510649 ] } ], "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." } } }