{ "ticker": { "uuid": "679bf7df-5bcb-4d80-b59b-51a0146ee6c4", "symbol": "SPTB", "name": "STATE STREET SPDR PORTFOLIO TREASURY 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": 50.669, "architecture_regime": "downward_expansion", "architecture_regime_label": "Downward Expansion", "architecture_modifier": "Early contraction", "architecture_gate": "down", "architecture_direction": -58.401, "architecture_energy": 62.517, "architecture_maturity": 4.711, "architecture_confidence": 84.29, "architecture_tenure": "New", "architecture": { "interpretation": { "headline": "The weekly architecture is expanding downward.", "body": "Trend and Activity show sustained negative alignment with weak price acceptance. Repair requires persistent improvement across the structure, not merely one strong observation." }, "scores": { "balance": 19.44, "rotation_up": 11.01, "upward_expansion": 13.96, "deceleration": 37.69, "rotation_down": 66.38, "downward_expansion": 87.29 }, "activity_lines": [ 29.615729, 29.709416, 29.775417, 29.839786 ], "activity_state": "Moderate", "activity_direction": "Expanding", "rotation_direction": "Weakening", "price_acceptance": -0.666667 }, "latest_close": 29.655, "trend_reference": 29.920768, "distance_from_trend": -0.008882, "trend_direction": "Weakening", "fair_value": 29.176665, "distance_from_fair_value": 0.016394, "fair_value_direction": "Weakening", "relative_strength": -11.66929, "relative_strength_direction": "Weakening", "price_momentum": -0.012771, "excess_performance": -0.138396, "evidence": [ { "label": "Price vs Trend", "positive": false, "value": -0.008882, "read": "Below" }, { "label": "Trend direction", "positive": false, "value": -0.001886, "read": "Falling" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.016394, "read": "Premium" }, { "label": "Fair Value direction", "positive": false, "value": -0.012016, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.116693, "read": "Lagging" }, { "label": "Relative strength direction", "positive": false, "value": -0.011529, "read": "Weakening" }, { "label": "Price momentum", "positive": false, "value": -0.012771, "read": "Negative" }, { "label": "Volume balance", "positive": true, "value": 1.997501, "read": "Demand-led" } ], "volume": { "latest": 797459, "relative_activity": 2.467644, "balance": 1.997501, "dry_up": 0.915665, "accumulation_observations": 1, "distribution_observations": 1 }, "risk": { "range_context": 0.00796, "annualized_volatility": 0.040736, "from_high_reference": -0.029352, "from_low_reference": 0.013678 }, "levels": { "trend_reference": 29.920768, "fair_value_reference": 29.176665, "structural_low": 29.476116, "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": 1, "median_return": 0.006629, "positive_rate": 1.0, "directional_follow_through": 0.0, "median_excess_return": 0.040512, "regime_survival": 0.0, "best_return": 0.006629, "worst_return": 0.006629, "sufficient": false }, { "horizon": "Intermediate", "sample_count": 0, "median_return": null, "positive_rate": null, "directional_follow_through": null, "median_excess_return": null, "regime_survival": null, "best_return": null, "worst_return": null, "sufficient": false }, { "horizon": "Extended", "sample_count": 0, "median_return": null, "positive_rate": null, "directional_follow_through": null, "median_excess_return": null, "regime_survival": null, "best_return": null, "worst_return": null, "sufficient": false }, { "horizon": "Full cycle", "sample_count": 0, "median_return": null, "positive_rate": null, "directional_follow_through": null, "median_excess_return": null, "regime_survival": null, "best_return": null, "worst_return": null, "sufficient": false } ], "ledger": [ { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-11-28", "end": "2025-12-26", "tenure": "Developing", "return": -0.003625, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2026-01-02", "end": "2026-01-09", "tenure": "New", "return": 0.002235, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-01-16", "end": "2026-03-27", "tenure": "Developing", "return": -0.004976, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2026-04-03", "end": "2026-04-24", "tenure": "New", "return": 0.002649, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-05-01", "end": "2026-05-22", "tenure": "New", "return": -0.004859, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2026-05-29", "end": "2026-06-19", "tenure": "New", "return": 0.001654, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-06-26", "end": "2026-07-24", "tenure": "Developing", "return": -0.016737, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2026-07-31", "end": "2026-08-07", "tenure": "New", "return": 0.004371, "active": true } ], "chart_path": [ { "date": "2024-05-24", "close": 27.523371, "volume": 9158, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-05-31", "close": 27.500799, "volume": 12089, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-06-07", "close": 27.625147, "volume": 11167, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-06-14", "close": 27.99738, "volume": 32399, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-06-21", "close": 27.942707, "volume": 10812, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-06-28", "close": 27.797527, "volume": 23758, "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": 27.955721, "volume": 8554, "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": 28.154667, "volume": 6954, "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": 28.084847, "volume": 4590, "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": 28.170623, "volume": 2349, "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": 28.894457, "volume": 7310, "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": 28.653006, "volume": 765, "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": 28.747994, "volume": 905, "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": 28.912973, "volume": 10015, "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": 28.766695, "volume": 9377, "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": 29.166708, "volume": 14124, "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": 29.288802, "volume": 4486, "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": 29.198951, "volume": 18722, "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": 29.157602, "volume": 9417, "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": 28.802459, "volume": 9475, "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": 28.652059, "volume": 29805, "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": 28.678167, "volume": 48460, "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": 28.448139, "volume": 140320, "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": 28.286052, "volume": 21731, "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": 28.417824, "volume": 2081294, "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": 28.222225, "volume": 34679, "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": 28.258256, "volume": 203354, "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": 28.641686, "volume": 40596, "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": 28.751177, "volume": 18559, "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": 28.372442, "volume": 26974, "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": 28.223604, "volume": 36711, "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": 28.104922, "volume": 10471, "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": 28.171757, "volume": 74050, "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": 27.950229, "volume": 82037, "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": 28.200038, "volume": 39675, "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": 28.190611, "volume": 19902, "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": 28.292325, "volume": 11491, "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": 28.482836, "volume": 25005, "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": 28.490121, "volume": 183565, "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": 28.57433, "volume": 18536, "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": 28.933875, "volume": 84846, "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": 28.781094, "volume": 85791, "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": 28.82457, "volume": 87051, "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": 28.931268, "volume": 28415, "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": 28.938483, "volume": 51331, "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": 29.363918, "volume": 37466, "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": 28.650906, "volume": 72470, "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": 28.862504, "volume": 40930, "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": 29.005888, "volume": 33184, "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": 28.949456, "volume": 28439, "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": 28.868191, "volume": 23698, "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": 28.777365, "volume": 31562, "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": 28.662638, "volume": 19645, "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": 28.881863, "volume": 13507, "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": 28.748349, "volume": 26547, "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": 28.925292, "volume": 10335, "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": 28.983633, "volume": 12684, "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": 29.166813, "volume": 22041, "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": 29.106062, "volume": 20566, "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": 29.012563, "volume": 25625, "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": 29.007749, "volume": 21913, "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": 29.10404, "volume": 21869, "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": 29.406563, "volume": 7324, "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": 29.324422, "volume": 19649, "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": 29.276104, "volume": 58322, "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": 29.401731, "volume": 21783, "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": 29.463289, "volume": 20790, "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": 29.706058, "volume": 24363, "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": 29.764248, "volume": 32390, "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": 29.710907, "volume": 63561, "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": 29.641564, "volume": 26208, "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": 29.750127, "volume": 63538, "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": 29.915372, "volume": 38678, "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": 30.01269, "volume": 59100, "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": 30.032153, "volume": 46532, "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": 29.890848, "volume": 84564, "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": 29.909046, "volume": 77269, "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": 29.850449, "volume": 73502, "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": 29.982293, "volume": 1427541, "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": 30.080248, "volume": 74307, "typical_volume": 113160.15, "trend": 29.412089, "fair_value": 28.841948, "relative_strength": -8.138232, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 73.866182, "energy": 57.127348, "activity_lines": [ 29.972713, 29.950083, 29.820502, 29.651906 ] }, { "date": "2025-12-05", "close": 29.877895, "volume": 94810, "typical_volume": 116805.0, "trend": 29.445746, "fair_value": 28.854738, "relative_strength": -8.904964, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 58.012627, "energy": 48.72287, "activity_lines": [ 29.951153, 29.944886, 29.841111, 29.681958 ] }, { "date": "2025-12-12", "close": 29.838698, "volume": 79681, "typical_volume": 119695.6, "trend": 29.481124, "fair_value": 28.866737, "relative_strength": -8.361541, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 46.997119, "energy": 40.8561, "activity_lines": [ 29.91739, 29.928265, 29.853844, 29.70731 ] }, { "date": "2025-12-19", "close": 29.92608, "volume": 71942, "typical_volume": 122926.5, "trend": 29.523238, "fair_value": 28.8795, "relative_strength": -8.044123, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 46.382673, "energy": 37.074546, "activity_lines": [ 29.917444, 29.925922, 29.871401, 29.736017 ] }, { "date": "2025-12-26", "close": 29.971217, "volume": 50923, "typical_volume": 124490.2, "trend": 29.55955, "fair_value": 28.892497, "relative_strength": -9.042306, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 50.168749, "energy": 32.084309, "activity_lines": [ 29.927502, 29.93159, 29.890782, 29.764918 ] }, { "date": "2026-01-02", "close": 29.916737, "volume": 74339, "typical_volume": 125291.05, "trend": 29.598496, "fair_value": 28.904547, "relative_strength": -8.097403, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 41.804356, "energy": 28.253129, "activity_lines": [ 29.920139, 29.928108, 29.901895, 29.787963 ] }, { "date": "2026-01-09", "close": 29.983608, "volume": 119728, "typical_volume": 130188.3, "trend": 29.633774, "fair_value": 28.917094, "relative_strength": -9.1363, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 59.311994, "energy": 38.849641, "activity_lines": [ 29.945966, 29.938882, 29.916326, 29.812809 ] }, { "date": "2026-01-16", "close": 29.934438, "volume": 68842, "typical_volume": 132590.9, "trend": 29.665467, "fair_value": 28.928788, "relative_strength": -8.804564, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 52.074491, "energy": 34.976988, "activity_lines": [ 29.948356, 29.939029, 29.923304, 29.832206 ] }, { "date": "2026-01-23", "close": 29.954106, "volume": 66770, "typical_volume": 134711.25, "trend": 29.69171, "fair_value": 28.940439, "relative_strength": -8.294664, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 52.19874, "energy": 32.371987, "activity_lines": [ 29.95092, 29.942291, 29.929911, 29.850828 ] }, { "date": "2026-01-30", "close": 29.954106, "volume": 103435, "typical_volume": 138263.5, "trend": 29.719978, "fair_value": 28.951829, "relative_strength": -8.499113, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 51.570439, "energy": 31.924527, "activity_lines": [ 29.951615, 29.943668, 29.935336, 29.867757 ] }, { "date": "2026-02-06", "close": 30.038623, "volume": 83043, "typical_volume": 139237.6, "trend": 29.75418, "fair_value": 28.963904, "relative_strength": -7.894194, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 61.637804, "energy": 36.232641, "activity_lines": [ 29.981623, 29.960924, 29.947907, 29.888315 ] }, { "date": "2026-02-13", "close": 30.324799, "volume": 103282, "typical_volume": 143091.3, "trend": 29.798082, "fair_value": 28.978859, "relative_strength": -5.699625, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 86.295215, "energy": 70.183828, "activity_lines": [ 30.098897, 30.030969, 29.986172, 29.925129 ] }, { "date": "2026-02-20", "close": 30.285326, "volume": 124623, "typical_volume": 146145.55, "trend": 29.837458, "fair_value": 28.99306, "relative_strength": -6.709519, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 80.53344, "energy": 81.582988, "activity_lines": [ 30.180268, 30.085712, 30.017425, 29.956564 ] }, { "date": "2026-02-27", "close": 30.492557, "volume": 201697, "typical_volume": 154296.5, "trend": 29.873658, "fair_value": 29.009183, "relative_strength": -5.414139, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 90.677941, "energy": 92.392834, "activity_lines": [ 30.307323, 30.170013, 30.065865, 29.998828 ] }, { "date": "2026-03-06", "close": 30.201247, "volume": 620835, "typical_volume": 182383.25, "trend": 29.902885, "fair_value": 29.021865, "relative_strength": -4.2003, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 66.275293, "energy": 80.452375, "activity_lines": [ 30.301377, 30.191048, 30.083812, 30.019963 ] }, { "date": "2026-03-13", "close": 29.968625, "volume": 3665139, "typical_volume": 363313.6, "trend": 29.92597, "fair_value": 29.031831, "relative_strength": -3.229341, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 50.463163, "energy": 41.943369, "activity_lines": [ 30.201416, 30.165606, 30.078708, 30.024204 ] }, { "date": "2026-03-20", "close": 29.815194, "volume": 3435780, "typical_volume": 530874.4, "trend": 29.939752, "fair_value": 29.039991, "relative_strength": -1.72133, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 11.790765, "energy": 8.552664, "activity_lines": [ 30.054977, 30.111325, 30.059293, 30.017058 ] }, { "date": "2026-03-27", "close": 29.785497, "volume": 121255, "typical_volume": 533073.7, "trend": 29.950492, "fair_value": 29.047677, "relative_strength": 0.658846, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "mixed", "direction": -19.035105, "energy": 28.555224, "activity_lines": [ 29.932612, 30.054705, 30.03741, 30.007106 ] }, { "date": "2026-04-03", "close": 30.002405, "volume": 63919, "typical_volume": 532594.55, "trend": 29.96037, "fair_value": 29.057419, "relative_strength": -1.439775, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -6.036179, "energy": 25.072619, "activity_lines": [ 29.915873, 30.040232, 30.036774, 30.010455 ] }, { "date": "2026-04-10", "close": 30.012338, "volume": 101028, "typical_volume": 466268.9, "trend": 29.96864, "fair_value": 29.067064, "relative_strength": -4.43591, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -14.488954, "energy": 23.491364, "activity_lines": [ 29.935121, 30.026687, 30.03636, 30.013808 ] }, { "date": "2026-04-17", "close": 30.166298, "volume": 99898, "typical_volume": 467548.45, "trend": 29.983819, "fair_value": 29.078057, "relative_strength": -7.596524, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 24.856008, "energy": 13.658976, "activity_lines": [ 30.018283, 30.040075, 30.050466, 30.02656 ] }, { "date": "2026-04-24", "close": 30.081868, "volume": 88069, "typical_volume": 467211.4, "trend": 29.998496, "fair_value": 29.087995, "relative_strength": -7.916248, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 32.109771, "energy": 17.453598, "activity_lines": [ 30.060124, 30.035792, 30.056121, 30.032886 ] }, { "date": "2026-05-01", "close": 29.86402, "volume": 209931, "typical_volume": 473723.9, "trend": 30.002293, "fair_value": 29.095603, "relative_strength": -9.043441, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -4.796243, "energy": 5.509099, "activity_lines": [ 30.01157, 29.996316, 30.040057, 30.02421 ] }, { "date": "2026-05-08", "close": 29.930565, "volume": 2783712, "typical_volume": 609312.4, "trend": 30.002799, "fair_value": 29.10371, "relative_strength": -10.516366, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 0.872956, "energy": 2.448099, "activity_lines": [ 29.979963, 29.9766, 30.030211, 30.019582 ] }, { "date": "2026-05-15", "close": 29.585919, "volume": 453630, "typical_volume": 629447.75, "trend": 29.988573, "fair_value": 29.108346, "relative_strength": -11.395551, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -44.327514, "energy": 48.533999, "activity_lines": [ 29.838263, 29.904438, 29.987519, 29.992687 ] }, { "date": "2026-05-22", "close": 29.718911, "volume": 95852, "typical_volume": 630523.4, "trend": 29.978132, "fair_value": 29.114161, "relative_strength": -11.38457, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -59.845081, "energy": 61.684694, "activity_lines": [ 29.769322, 29.867645, 29.959329, 29.975289 ] }, { "date": "2026-05-29", "close": 29.866006, "volume": 201256, "typical_volume": 634599.8, "trend": 29.977304, "fair_value": 29.121254, "relative_strength": -11.841935, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -54.610746, "energy": 55.159198, "activity_lines": [ 29.779239, 29.862137, 29.946089, 29.968055 ] }, { "date": "2026-06-05", "close": 29.736393, "volume": 142902, "typical_volume": 638302.8, "trend": 29.971549, "fair_value": 29.127003, "relative_strength": -9.652949, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -60.588319, "energy": 58.896771, "activity_lines": [ 29.760342, 29.832139, 29.921065, 29.952512 ] }, { "date": "2026-06-12", "close": 29.859579, "volume": 270884, "typical_volume": 648508.5, "trend": 29.971853, "fair_value": 29.133786, "relative_strength": -9.450884, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -52.925218, "energy": 32.233756, "activity_lines": [ 29.791015, 29.825431, 29.908716, 29.945289 ] }, { "date": "2026-06-19", "close": 29.915391, "volume": 125777, "typical_volume": 649625.6, "trend": 29.969623, "fair_value": 29.140957, "relative_strength": -9.75685, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -38.057417, "energy": 19.337349, "activity_lines": [ 29.845025, 29.831468, 29.902133, 29.941646 ] }, { "date": "2026-06-26", "close": 30.063991, "volume": 305626, "typical_volume": 660754.75, "trend": 29.969081, "fair_value": 29.149348, "relative_strength": -6.829279, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -17.69988, "energy": 12.458291, "activity_lines": [ 29.926603, 29.866285, 29.909887, 29.947734 ] }, { "date": "2026-07-03", "close": 29.885573, "volume": 89306, "typical_volume": 660055.95, "trend": 29.969337, "fair_value": 29.155981, "relative_strength": -9.071939, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -26.146377, "energy": 17.397542, "activity_lines": [ 29.925704, 29.870523, 29.900528, 29.942347 ] }, { "date": "2026-07-10", "close": 29.700326, "volume": 126630, "typical_volume": 660156.3, "trend": 29.964725, "fair_value": 29.160841, "relative_strength": -10.552877, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -45.169459, "energy": 20.022823, "activity_lines": [ 29.86175, 29.844649, 29.875617, 29.924991 ] }, { "date": "2026-07-17", "close": 29.737196, "volume": 199321, "typical_volume": 660037.5, "trend": 29.958429, "fair_value": 29.165942, "relative_strength": -8.768679, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -51.502164, "energy": 25.373103, "activity_lines": [ 29.812492, 29.828454, 29.857004, 29.910312 ] }, { "date": "2026-07-24", "close": 29.560817, "volume": 57758, "typical_volume": 631883.65, "trend": 29.944749, "fair_value": 29.169405, "relative_strength": -8.526698, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -66.338098, "energy": 55.554827, "activity_lines": [ 29.712599, 29.783707, 29.82519, 29.884659 ] }, { "date": "2026-07-31", "close": 29.52594, "volume": 129110, "typical_volume": 455082.2, "trend": 29.931722, "fair_value": 29.172506, "relative_strength": -9.29436, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -67.327424, "energy": 67.237409, "activity_lines": [ 29.624719, 29.733074, 29.793103, 29.857639 ] }, { "date": "2026-08-07", "close": 29.655, "volume": 797459, "typical_volume": 323166.15, "trend": 29.920768, "fair_value": 29.176665, "relative_strength": -11.66929, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -58.400774, "energy": 62.517444, "activity_lines": [ 29.615729, 29.709416, 29.775417, 29.839786 ] } ], "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." } } }