{ "ticker": { "uuid": "7d90bbdc-fceb-40a6-9d4e-b922b628c6cc", "symbol": "KUANTUM", "name": "Kuantum Papers Limited", "exchange": "NSI", "country": "IN", "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": "^NSEI", "stage": 1, "stage_name": "Basing", "phase": "1b", "phase_label": "Stage 1B \u00b7 Basing", "transition": "stage_1_building", "transition_label": "Base still building", "confidence": 96.0, "architecture_regime": "balance", "architecture_regime_label": "Balance", "architecture_modifier": "Balance after decline", "architecture_gate": "down", "architecture_direction": 11.062, "architecture_energy": 16.157, "architecture_maturity": 17.453, "architecture_confidence": 68.923, "architecture_tenure": "New", "architecture": { "interpretation": { "headline": "Directional pressure has compressed into balance.", "body": "Trend and Activity are compressed into balance, so neither side has durable control. Prior structure and the next directional change provide context; balance alone is not assumed to be a base." }, "scores": { "balance": 62.31, "rotation_up": 36.59, "upward_expansion": 30.01, "deceleration": 46.35, "rotation_down": 18.32, "downward_expansion": 43.01 }, "activity_lines": [ 80.178668, 78.425274, 78.05643, 78.727398 ], "activity_state": "Compressed", "activity_direction": "Contracting", "rotation_direction": "Improving", "price_acceptance": 0.0 }, "latest_close": 86.040001, "trend_reference": 80.735, "distance_from_trend": 0.065709, "trend_direction": "Weakening", "fair_value": 124.139063, "distance_from_fair_value": -0.306906, "fair_value_direction": "Improving", "relative_strength": -3.907219, "relative_strength_direction": "Improving", "price_momentum": -0.019264, "excess_performance": 0.024445, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.065709, "read": "Above" }, { "label": "Trend direction", "positive": false, "value": -0.071521, "read": "Falling" }, { "label": "Price vs current Fair Value", "positive": false, "value": -0.306906, "read": "Below anchor" }, { "label": "Fair Value direction", "positive": true, "value": 0.086805, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.039072, "read": "Lagging" }, { "label": "Relative strength direction", "positive": true, "value": 0.135026, "read": "Improving" }, { "label": "Price momentum", "positive": false, "value": -0.019264, "read": "Negative" }, { "label": "Volume balance", "positive": true, "value": 3.060311, "read": "Demand-led" } ], "volume": { "latest": 977019, "relative_activity": 2.391152, "balance": 3.060311, "dry_up": 1.61083, "accumulation_observations": 3, "distribution_observations": 2 }, "risk": { "range_context": 0.06176, "annualized_volatility": 0.403978, "from_high_reference": -0.295274, "from_low_reference": 0.323489 }, "levels": { "trend_reference": 80.735, "fair_value_reference": 124.139063, "structural_low": 65.010002, "invalidation": "A renewed decline below the structural range low, widening the discount to current Fair Value while Trend falls, weakens the base diagnosis." }, "outcomes": [ { "horizon": "Near term", "sample_count": 11, "median_return": -0.03654, "positive_rate": 0.363636, "directional_follow_through": 0.363636, "median_excess_return": -0.039081, "regime_survival": 0.636364, "best_return": 0.152859, "worst_return": -0.152822, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 5, "median_return": -0.058943, "positive_rate": 0.2, "directional_follow_through": 0.2, "median_excess_return": -0.040577, "regime_survival": 0.2, "best_return": 0.273578, "worst_return": -0.191527, "sufficient": true }, { "horizon": "Extended", "sample_count": 4, "median_return": -0.093876, "positive_rate": 0.25, "directional_follow_through": 0.25, "median_excess_return": -0.173606, "regime_survival": 0.0, "best_return": 0.198509, "worst_return": -0.2068, "sufficient": false }, { "horizon": "Full cycle", "sample_count": 3, "median_return": -0.213742, "positive_rate": 0.333333, "directional_follow_through": 0.333333, "median_excess_return": -0.272368, "regime_survival": 0.0, "best_return": 0.627371, "worst_return": -0.320971, "sufficient": false } ], "ledger": [ { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2023-05-05", "end": "2023-06-02", "tenure": "Developing", "return": 0.005933, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2023-06-09", "end": "2023-09-15", "tenure": "Established", "return": 0.205038, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2023-09-22", "end": "2023-11-17", "tenure": "Developing", "return": -0.013455, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2023-11-24", "end": "2023-12-15", "tenure": "New", "return": 0.1205, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2023-12-22", "end": "2024-02-16", "tenure": "Developing", "return": -0.072422, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2024-02-23", "end": "2024-06-28", "tenure": "Established", "return": -0.037446, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2024-07-05", "end": "2024-08-23", "tenure": "Developing", "return": -0.118949, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2024-08-30", "end": "2025-05-23", "tenure": "Extended", "return": -0.230906, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-05-30", "end": "2025-07-04", "tenure": "Developing", "return": 0.100613, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2025-07-11", "end": "2025-07-25", "tenure": "New", "return": 0.046575, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-08-01", "end": "2025-08-15", "tenure": "New", "return": -0.107935, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2025-08-22", "end": "2025-10-24", "tenure": "Developing", "return": -0.048701, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-10-31", "end": "2026-07-31", "tenure": "Extended", "return": -0.27483, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-08-07", "end": "2026-08-07", "tenure": "New", "return": 0.0, "active": true } ], "chart_path": [ { "date": "2023-08-18", "close": 189.384216, "volume": 1419453, "typical_volume": 1307581.85, "trend": 145.765463, "fair_value": 90.189183, "relative_strength": 28.615353, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 68.294987, "energy": 51.959624, "activity_lines": [ 184.225696, 181.630703, 170.264432, 159.320303 ] }, { "date": "2023-08-25", "close": 204.143265, "volume": 4196831, "typical_volume": 1505193.95, "trend": 148.407333, "fair_value": 91.193521, "relative_strength": 36.931976, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 78.69391, "energy": 59.849398, "activity_lines": [ 191.447606, 186.395012, 174.514335, 163.086613 ] }, { "date": "2023-09-01", "close": 179.974701, "volume": 3208185, "typical_volume": 1653178.7, "trend": 150.390695, "fair_value": 92.05166, "relative_strength": 18.598391, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 59.12877, "energy": 47.813582, "activity_lines": [ 189.119909, 185.960829, 176.092437, 165.123217 ] }, { "date": "2023-09-08", "close": 178.541763, "volume": 3147805, "typical_volume": 1800275.4, "trend": 152.269951, "fair_value": 92.925895, "relative_strength": 14.529656, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 55.778294, "energy": 40.219621, "activity_lines": [ 186.133063, 184.901334, 177.298352, 166.939415 ] }, { "date": "2023-09-15", "close": 178.159668, "volume": 1923468, "typical_volume": 1862121.15, "trend": 154.246022, "fair_value": 93.80701, "relative_strength": 11.477907, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 42.530446, "energy": 28.8656, "activity_lines": [ 182.837349, 183.861816, 178.232724, 168.60972 ] }, { "date": "2023-09-22", "close": 166.8396, "volume": 993522, "typical_volume": 1881871.75, "trend": 156.048207, "fair_value": 94.639638, "relative_strength": 6.594588, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 27.610677, "energy": 18.998912, "activity_lines": [ 176.436975, 180.877001, 177.910213, 169.422208 ] }, { "date": "2023-09-29", "close": 168.415817, "volume": 525513, "typical_volume": 1891365.3, "trend": 157.712003, "fair_value": 95.466719, "relative_strength": 7.219559, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 21.044542, "energy": 18.694923, "activity_lines": [ 172.064981, 178.406301, 177.621659, 170.220119 ] }, { "date": "2023-10-06", "close": 174.816193, "volume": 585688, "typical_volume": 1842180.4, "trend": 159.495245, "fair_value": 96.33212, "relative_strength": 10.951883, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 12.049409, "energy": 14.930847, "activity_lines": [ 172.208275, 177.341599, 177.834428, 171.323615 ] }, { "date": "2023-10-13", "close": 182.64949, "volume": 2778821, "typical_volume": 1965563.55, "trend": 161.797821, "fair_value": 97.250744, "relative_strength": 15.127626, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 21.124668, "energy": 14.439114, "activity_lines": [ 175.306569, 177.745424, 178.723371, 172.817437 ] }, { "date": "2023-10-20", "close": 179.688126, "volume": 1402086, "typical_volume": 2028661.8, "trend": 163.918741, "fair_value": 98.158812, "relative_strength": 14.31593, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 20.271709, "energy": 11.23496, "activity_lines": [ 177.143894, 177.486632, 179.150461, 173.97165 ] }, { "date": "2023-10-27", "close": 167.747116, "volume": 687984, "typical_volume": 2053111.5, "trend": 165.712051, "fair_value": 98.994247, "relative_strength": 9.451003, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 7.531387, "energy": 6.567397, "activity_lines": [ 174.898984, 175.211329, 178.266996, 174.218642 ] }, { "date": "2023-11-03", "close": 167.460541, "volume": 349875, "typical_volume": 2041186.0, "trend": 167.07952, "fair_value": 99.811895, "relative_strength": 8.072157, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 6.242033, "energy": 5.264265, "activity_lines": [ 172.498048, 173.277323, 177.261469, 174.331448 ] }, { "date": "2023-11-10", "close": 165.120102, "volume": 419756, "typical_volume": 1996661.15, "trend": 168.234383, "fair_value": 100.624471, "relative_strength": 5.317698, "stage": 2, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "up", "direction": 1.543749, "energy": 14.738448, "activity_lines": [ 169.380651, 171.584741, 175.997098, 174.205034 ] }, { "date": "2023-11-17", "close": 164.594696, "volume": 298643, "typical_volume": 1921786.8, "trend": 169.415552, "fair_value": 101.425553, "relative_strength": 3.215437, "stage": 2, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -18.285364, "energy": 31.652231, "activity_lines": [ 166.734525, 170.066715, 174.657887, 173.970216 ] }, { "date": "2023-11-24", "close": 156.570343, "volume": 2551231, "typical_volume": 1799513.45, "trend": 169.947382, "fair_value": 102.17279, "relative_strength": -2.189236, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -39.688088, "energy": 50.112022, "activity_lines": [ 162.617267, 167.343298, 172.644293, 173.141492 ] }, { "date": "2023-12-01", "close": 161.728851, "volume": 935938, "typical_volume": 1745529.85, "trend": 170.590128, "fair_value": 102.939249, "relative_strength": -1.495277, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -32.978339, "energy": 49.33314, "activity_lines": [ 161.760697, 165.950325, 171.25436, 172.611265 ] }, { "date": "2023-12-08", "close": 170.039795, "volume": 1855938, "typical_volume": 1746333.15, "trend": 171.40192, "fair_value": 103.706617, "relative_strength": -0.178654, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -28.096447, "energy": 33.136709, "activity_lines": [ 164.07566, 166.161356, 170.739874, 172.575759 ] }, { "date": "2023-12-15", "close": 175.437119, "volume": 1997572, "typical_volume": 1743913.55, "trend": 171.911602, "fair_value": 104.504369, "relative_strength": 0.466154, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -6.45229, "energy": 9.743991, "activity_lines": [ 168.017781, 167.324191, 170.795144, 172.836095 ] }, { "date": "2023-12-22", "close": 164.881287, "volume": 961948, "typical_volume": 1729464.55, "trend": 172.578049, "fair_value": 105.254921, "relative_strength": -5.280949, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -39.135621, "energy": 18.112792, "activity_lines": [ 167.753489, 166.556494, 169.853739, 172.382526 ] }, { "date": "2023-12-29", "close": 164.499161, "volume": 307159, "typical_volume": 1527370.8, "trend": 173.284968, "fair_value": 105.982859, "relative_strength": -7.157106, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -38.087616, "energy": 18.797233, "activity_lines": [ 167.342717, 166.042379, 168.928027, 171.861307 ] }, { "date": "2024-01-05", "close": 171.281647, "volume": 640028, "typical_volume": 1488399.55, "trend": 174.066166, "fair_value": 106.752168, "relative_strength": -3.345248, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -32.244757, "energy": 16.089479, "activity_lines": [ 168.664185, 167.037605, 168.76108, 171.732061 ] }, { "date": "2024-01-12", "close": 166.600784, "volume": 597166, "typical_volume": 1308416.3, "trend": 174.289129, "fair_value": 107.495685, "relative_strength": -6.792469, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -35.563129, "energy": 18.452177, "activity_lines": [ 167.788512, 167.117501, 168.234539, 171.250423 ] }, { "date": "2024-01-19", "close": 173.52655, "volume": 1679660, "typical_volume": 1231990.05, "trend": 174.742951, "fair_value": 108.293529, "relative_strength": -1.758202, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -24.703677, "energy": 11.361536, "activity_lines": [ 169.450696, 168.47226, 168.546369, 171.201225 ] }, { "date": "2024-01-26", "close": 166.505249, "volume": 493816, "typical_volume": 1099290.6, "trend": 174.177743, "fair_value": 109.057501, "relative_strength": -4.700087, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -26.222003, "energy": 12.387961, "activity_lines": [ 168.899817, 168.397574, 168.220208, 170.66976 ] }, { "date": "2024-02-02", "close": 164.976807, "volume": 1817699, "typical_volume": 1094002.15, "trend": 173.531337, "fair_value": 109.759007, "relative_strength": -7.913912, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -38.938111, "energy": 16.994235, "activity_lines": [ 167.731193, 168.010251, 167.805799, 170.076151 ] }, { "date": "2024-02-09", "close": 154.182144, "volume": 918572, "typical_volume": 1090254.65, "trend": 172.692283, "fair_value": 110.412684, "relative_strength": -13.705471, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -63.407552, "energy": 38.214812, "activity_lines": [ 162.932505, 165.507419, 166.426102, 168.827816 ] }, { "date": "2024-02-16", "close": 152.940292, "volume": 541711, "typical_volume": 1091064.55, "trend": 171.732227, "fair_value": 111.076459, "relative_strength": -15.465556, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -65.015987, "energy": 56.30226, "activity_lines": [ 158.859834, 162.916007, 164.988406, 167.553494 ] }, { "date": "2024-02-23", "close": 155.615051, "volume": 609737, "typical_volume": 1092267.0, "trend": 171.01099, "fair_value": 111.759486, "relative_strength": -14.762764, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -58.538366, "energy": 59.578169, "activity_lines": [ 156.589448, 161.121816, 163.879143, 166.513676 ] }, { "date": "2024-03-01", "close": 180.977737, "volume": 3149185, "typical_volume": 1110785.2, "trend": 171.18294, "fair_value": 112.544601, "relative_strength": -1.743965, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -27.012875, "energy": 20.529753, "activity_lines": [ 163.967391, 164.299423, 165.276808, 167.156692 ] }, { "date": "2024-03-08", "close": 168.177002, "volume": 819578, "typical_volume": 1081659.8, "trend": 170.515837, "fair_value": 113.169109, "relative_strength": -9.429706, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -28.518936, "energy": 11.558503, "activity_lines": [ 166.113589, 164.856961, 165.463316, 166.962761 ] }, { "date": "2024-03-15", "close": 147.351898, "volume": 1301804, "typical_volume": 1112350.8, "trend": 169.11476, "fair_value": 113.681792, "relative_strength": -18.959914, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -62.402479, "energy": 25.737677, "activity_lines": [ 161.10474, 161.561247, 163.721295, 165.468313 ] }, { "date": "2024-03-22", "close": 149.453506, "volume": 1000835, "typical_volume": 1144898.8, "trend": 167.291768, "fair_value": 114.222995, "relative_strength": -18.060771, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -58.245349, "energy": 27.384562, "activity_lines": [ 157.251777, 159.08273, 162.276548, 164.199845 ] }, { "date": "2024-03-29", "close": 147.590714, "volume": 878923, "typical_volume": 1167857.15, "trend": 166.212302, "fair_value": 114.757976, "relative_strength": -19.924864, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -60.931935, "energy": 54.346446, "activity_lines": [ 153.010335, 156.577291, 160.74014, 162.92881 ] }, { "date": "2024-04-05", "close": 155.424011, "volume": 480959, "typical_volume": 1176972.95, "trend": 165.44171, "fair_value": 115.3528, "relative_strength": -16.319856, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -51.979744, "energy": 54.944085, "activity_lines": [ 151.914948, 155.96765, 160.033233, 162.232791 ] }, { "date": "2024-04-12", "close": 149.310226, "volume": 295329, "typical_volume": 1064177.85, "trend": 164.480062, "fair_value": 115.9292, "relative_strength": -19.502728, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -55.631181, "energy": 51.946996, "activity_lines": [ 150.485215, 154.447888, 158.787731, 161.19205 ] }, { "date": "2024-04-19", "close": 143.960663, "volume": 324564, "typical_volume": 1033609.15, "trend": 163.717431, "fair_value": 116.482745, "relative_strength": -20.928837, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -64.353847, "energy": 52.416806, "activity_lines": [ 148.530079, 152.240325, 157.067319, 159.868218 ] }, { "date": "2024-04-26", "close": 153.370163, "volume": 757687, "typical_volume": 978696.6, "trend": 163.215909, "fair_value": 117.079753, "relative_strength": -16.602196, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -52.503482, "energy": 31.628523, "activity_lines": [ 149.937525, 151.929426, 156.32766, 159.200652 ] }, { "date": "2024-05-03", "close": 160.82135, "volume": 1996471, "typical_volume": 978641.55, "trend": 162.749414, "fair_value": 117.699846, "relative_strength": -12.6188, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -33.752126, "energy": 19.207228, "activity_lines": [ 153.56759, 152.965472, 156.377017, 159.046164 ] }, { "date": "2024-05-10", "close": 146.444382, "volume": 741055, "typical_volume": 967596.9, "trend": 161.542577, "fair_value": 118.240118, "relative_strength": -18.661703, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -44.384994, "energy": 23.42565, "activity_lines": [ 151.52329, 151.292864, 155.126738, 157.994227 ] }, { "date": "2024-05-17", "close": 149.883377, "volume": 421354, "typical_volume": 973306.65, "trend": 160.549085, "fair_value": 118.808154, "relative_strength": -17.862821, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -38.517689, "energy": 18.916598, "activity_lines": [ 151.223963, 150.873406, 154.291777, 157.24202 ] }, { "date": "2024-05-24", "close": 152.558167, "volume": 324331, "typical_volume": 957521.8, "trend": 160.042787, "fair_value": 119.381297, "relative_strength": -17.954577, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -34.735857, "energy": 17.081756, "activity_lines": [ 151.778023, 151.272886, 153.781157, 156.726477 ] }, { "date": "2024-05-31", "close": 145.39357, "volume": 269075, "typical_volume": 941117.25, "trend": 159.307221, "fair_value": 119.893465, "relative_strength": -20.085358, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -53.999883, "energy": 32.419449, "activity_lines": [ 149.370718, 150.275052, 152.677353, 155.781366 ] }, { "date": "2024-06-07", "close": 144.724869, "volume": 502648, "typical_volume": 882266.65, "trend": 158.62738, "fair_value": 120.395328, "relative_strength": -22.724673, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -52.666412, "energy": 32.540075, "activity_lines": [ 147.272284, 149.229453, 151.610851, 154.84057 ] }, { "date": "2024-06-14", "close": 152.758789, "volume": 497484, "typical_volume": 882450.05, "trend": 158.23285, "fair_value": 120.954107, "relative_strength": -18.658843, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -48.309798, "energy": 25.542124, "activity_lines": [ 148.924923, 149.696674, 151.446635, 154.461951 ] }, { "date": "2024-06-21", "close": 153.857361, "volume": 551845, "typical_volume": 819157.35, "trend": 158.142417, "fair_value": 121.507288, "relative_strength": -17.798554, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -35.984856, "energy": 18.972299, "activity_lines": [ 150.522792, 150.412093, 151.452504, 154.179661 ] }, { "date": "2024-06-28", "close": 149.787857, "volume": 564989, "typical_volume": 801478.2, "trend": 157.744384, "fair_value": 122.037091, "relative_strength": -21.037484, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -35.287596, "energy": 15.996504, "activity_lines": [ 150.499227, 150.304927, 151.123751, 153.640657 ] }, { "date": "2024-07-05", "close": 164.642471, "volume": 2314748, "typical_volume": 890130.05, "trend": 157.564473, "fair_value": 122.602225, "relative_strength": -13.743206, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -2.221135, "energy": 9.014692, "activity_lines": [ 155.611888, 152.792651, 152.230648, 154.085695 ] }, { "date": "2024-07-12", "close": 161.728851, "volume": 1083318, "typical_volume": 913809.1, "trend": 157.107531, "fair_value": 123.161622, "relative_strength": -15.353807, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 12.732546, "energy": 15.812751, "activity_lines": [ 158.470081, 154.545675, 153.004333, 154.354365 ] }, { "date": "2024-07-19", "close": 153.207764, "volume": 492511, "typical_volume": 780975.4, "trend": 156.718414, "fair_value": 123.643525, "relative_strength": -19.31883, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 7.284531, "energy": 11.865946, "activity_lines": [ 157.354314, 154.73291, 152.937373, 154.102767 ] }, { "date": "2024-07-26", "close": 153.02626, "volume": 532947, "typical_volume": 766643.85, "trend": 156.335984, "fair_value": 124.068586, "relative_strength": -19.830975, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -11.183712, "energy": 12.045667, "activity_lines": [ 156.148114, 154.764175, 152.985364, 153.864563 ] }, { "date": "2024-08-02", "close": 152.080521, "volume": 682183, "typical_volume": 735662.8, "trend": 155.695946, "fair_value": 124.511661, "relative_strength": -19.372705, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -17.603885, "energy": 7.911246, "activity_lines": [ 154.682074, 154.566343, 153.015432, 153.590017 ] }, { "date": "2024-08-09", "close": 143.502121, "volume": 555752, "typical_volume": 713408.65, "trend": 154.925991, "fair_value": 124.932251, "relative_strength": -22.081626, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -43.631232, "energy": 24.083478, "activity_lines": [ 150.203723, 152.817486, 152.205992, 152.803319 ] }, { "date": "2024-08-16", "close": 142.995834, "volume": 305494, "typical_volume": 684737.2, "trend": 153.9083, "fair_value": 125.355012, "relative_strength": -22.117077, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -54.880965, "energy": 37.631819, "activity_lines": [ 146.965967, 151.010968, 151.376674, 152.033631 ] }, { "date": "2024-08-23", "close": 145.058334, "volume": 1225801, "typical_volume": 721979.3, "trend": 153.193403, "fair_value": 125.790995, "relative_strength": -20.925293, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -52.99607, "energy": 44.30034, "activity_lines": [ 145.664578, 149.610886, 150.765664, 151.462666 ] }, { "date": "2024-08-30", "close": 142.290314, "volume": 1043767, "typical_volume": 759401.2, "trend": 152.437187, "fair_value": 126.224884, "relative_strength": -22.97692, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -58.718109, "energy": 53.663167, "activity_lines": [ 143.983811, 147.847536, 149.940395, 150.759241 ] }, { "date": "2024-09-06", "close": 139.161652, "volume": 366925, "typical_volume": 761519.25, "trend": 151.936504, "fair_value": 126.647746, "relative_strength": -22.816171, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -65.770196, "energy": 60.820558, "activity_lines": [ 141.975887, 145.725649, 148.850585, 149.902755 ] }, { "date": "2024-09-13", "close": 139.882904, "volume": 560484, "typical_volume": 751659.1, "trend": 151.501257, "fair_value": 127.093891, "relative_strength": -23.286949, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -62.23949, "energy": 55.896596, "activity_lines": [ 141.069638, 143.928102, 147.852319, 149.125103 ] }, { "date": "2024-09-20", "close": 137.748398, "volume": 541194, "typical_volume": 678895.25, "trend": 150.905702, "fair_value": 127.538693, "relative_strength": -25.1013, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -65.076317, "energy": 57.957657, "activity_lines": [ 139.693168, 142.192637, 146.714991, 148.237822 ] }, { "date": "2024-09-27", "close": 135.077835, "volume": 213694, "typical_volume": 652527.2, "trend": 149.375705, "fair_value": 127.927853, "relative_strength": -26.969134, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -68.303632, "energy": 61.638368, "activity_lines": [ 137.77634, 140.407623, 145.433196, 147.216669 ] }, { "date": "2024-10-04", "close": 133.109039, "volume": 193329, "typical_volume": 641125.95, "trend": 148.206773, "fair_value": 128.273393, "relative_strength": -23.943965, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -70.865365, "energy": 65.717424, "activity_lines": [ 135.868613, 138.594282, 144.018022, 146.167207 ] }, { "date": "2024-10-11", "close": 134.210388, "volume": 256523, "typical_volume": 637735.55, "trend": 147.768723, "fair_value": 128.65609, "relative_strength": -22.333541, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -65.483586, "energy": 63.907725, "activity_lines": [ 134.940087, 137.343317, 142.787617, 145.264214 ] }, { "date": "2024-10-18", "close": 131.266922, "volume": 514180, "typical_volume": 649990.8, "trend": 147.162504, "fair_value": 129.040383, "relative_strength": -22.86148, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -69.540438, "energy": 66.057098, "activity_lines": [ 133.36049, 135.882088, 141.364251, 144.199582 ] }, { "date": "2024-10-25", "close": 121.35466, "volume": 338268, "typical_volume": 641771.8, "trend": 146.287968, "fair_value": 129.302449, "relative_strength": -25.912542, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -83.256472, "energy": 76.900684, "activity_lines": [ 129.051204, 132.841087, 139.064131, 142.53456 ] }, { "date": "2024-11-01", "close": 133.4599, "volume": 176106, "typical_volume": 625702.9, "trend": 145.555831, "fair_value": 129.641511, "relative_strength": -18.189307, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -61.568805, "energy": 49.319451, "activity_lines": [ 129.869915, 132.394516, 138.028177, 141.706942 ] }, { "date": "2024-11-08", "close": 130.194809, "volume": 151822, "typical_volume": 605701.75, "trend": 144.918651, "fair_value": 129.957836, "relative_strength": -18.952853, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -60.146001, "energy": 47.03911, "activity_lines": [ 129.708124, 131.565172, 136.773162, 140.715909 ] }, { "date": "2024-11-15", "close": 124.590523, "volume": 118540, "typical_volume": 583379.3, "trend": 144.272979, "fair_value": 130.256295, "relative_strength": -19.705689, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -68.780794, "energy": 50.772385, "activity_lines": [ 127.87252, 129.936785, 135.097084, 139.404416 ] }, { "date": "2024-11-22", "close": 122.183113, "volume": 210545, "typical_volume": 478169.15, "trend": 143.233411, "fair_value": 130.550156, "relative_strength": -21.852887, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -68.729035, "energy": 48.857656, "activity_lines": [ 125.87577, 128.135617, 133.311716, 137.979264 ] }, { "date": "2024-11-29", "close": 113.11879, "volume": 1770090, "typical_volume": 512507.75, "trend": 141.643326, "fair_value": 130.793135, "relative_strength": -27.620858, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -79.743733, "energy": 68.117644, "activity_lines": [ 121.463166, 125.008204, 130.865267, 136.036385 ] }, { "date": "2024-12-06", "close": 134.346848, "volume": 3765552, "typical_volume": 676159.8, "trend": 141.240075, "fair_value": 131.121631, "relative_strength": -15.271988, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -56.0432, "energy": 40.985578, "activity_lines": [ 124.67564, 126.18825, 130.672014, 135.565644 ] }, { "date": "2024-12-13", "close": 131.481339, "volume": 1174038, "typical_volume": 708214.35, "trend": 140.626673, "fair_value": 131.458242, "relative_strength": -16.666855, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -42.771225, "energy": 29.251404, "activity_lines": [ 126.873814, 126.860584, 130.295669, 134.936049 ] }, { "date": "2024-12-20", "close": 129.639236, "volume": 738100, "typical_volume": 711010.2, "trend": 139.862709, "fair_value": 131.820665, "relative_strength": -13.137181, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -38.605913, "energy": 22.096966, "activity_lines": [ 128.372185, 127.227585, 129.846481, 134.227182 ] }, { "date": "2024-12-27", "close": 123.947243, "volume": 167894, "typical_volume": 691617.3, "trend": 139.147831, "fair_value": 132.13998, "relative_strength": -17.143339, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -40.855949, "energy": 20.895877, "activity_lines": [ 127.636644, 126.642791, 128.962062, 133.200377 ] }, { "date": "2025-01-03", "close": 130.594421, "volume": 801347, "typical_volume": 716409.95, "trend": 138.676817, "fair_value": 132.463983, "relative_strength": -12.74155, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -32.953256, "energy": 15.59482, "activity_lines": [ 128.999221, 127.399659, 128.803825, 132.648544 ] }, { "date": "2025-01-10", "close": 122.426781, "volume": 301586, "typical_volume": 670199.2, "trend": 137.66575, "fair_value": 132.718174, "relative_strength": -15.576729, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -52.308864, "energy": 25.549503, "activity_lines": [ 126.474209, 126.503506, 127.926772, 131.600155 ] }, { "date": "2025-01-17", "close": 118.908264, "volume": 204072, "typical_volume": 628214.45, "trend": 136.50078, "fair_value": 132.96215, "relative_strength": -16.443133, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -58.61036, "energy": 33.497778, "activity_lines": [ 123.571029, 125.168225, 126.822392, 130.389995 ] }, { "date": "2025-01-24", "close": 115.594421, "volume": 256583, "typical_volume": 622697.35, "trend": 135.360999, "fair_value": 133.193913, "relative_strength": -17.660454, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -63.228248, "energy": 46.974983, "activity_lines": [ 120.401439, 123.435637, 125.513751, 129.041197 ] }, { "date": "2025-01-31", "close": 115.068108, "volume": 235096, "typical_volume": 606427.95, "trend": 133.70852, "fair_value": 133.36542, "relative_strength": -18.804741, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -64.806782, "energy": 60.868758, "activity_lines": [ 117.992733, 121.770921, 124.26721, 127.731979 ] }, { "date": "2025-02-07", "close": 114.600273, "volume": 170489, "typical_volume": 587892.7, "trend": 132.137567, "fair_value": 133.545966, "relative_strength": -18.737841, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -62.246423, "energy": 61.936511, "activity_lines": [ 116.020025, 120.150508, 123.094278, 126.499188 ] }, { "date": "2025-02-14", "close": 104.639275, "volume": 287155, "typical_volume": 591565.75, "trend": 130.518618, "fair_value": 133.747832, "relative_strength": -23.173864, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -76.392278, "energy": 70.233375, "activity_lines": [ 111.79326, 116.692068, 121.08291, 124.725105 ] }, { "date": "2025-02-21", "close": 112.407295, "volume": 482504, "typical_volume": 606024.5, "trend": 129.164652, "fair_value": 134.024171, "relative_strength": -16.426487, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -59.350488, "energy": 52.673673, "activity_lines": [ 111.341669, 115.186133, 119.956298, 123.556633 ] }, { "date": "2025-02-28", "close": 101.227966, "volume": 178252, "typical_volume": 602110.95, "trend": 127.469567, "fair_value": 134.255634, "relative_strength": -21.553372, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -71.926276, "energy": 58.457768, "activity_lines": [ 107.597033, 111.994394, 117.863568, 121.754266 ] }, { "date": "2025-03-07", "close": 105.341026, "volume": 497308, "typical_volume": 601267.35, "trend": 126.19753, "fair_value": 134.450863, "relative_strength": -19.166677, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -63.556486, "energy": 58.443049, "activity_lines": [ 106.18118, 110.067052, 116.319617, 120.326618 ] }, { "date": "2025-03-14", "close": 97.875145, "volume": 227252, "typical_volume": 595716.55, "trend": 124.693507, "fair_value": 134.557002, "relative_strength": -23.786211, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -72.585612, "energy": 62.367355, "activity_lines": [ 102.925173, 107.120573, 114.188087, 118.499367 ] }, { "date": "2025-03-21", "close": 108.654861, "volume": 785249, "typical_volume": 626173.7, "trend": 123.480058, "fair_value": 134.74759, "relative_strength": -18.267547, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -59.653014, "energy": 51.773322, "activity_lines": [ 104.377413, 106.728937, 113.195003, 117.464616 ] }, { "date": "2025-03-28", "close": 98.674362, "volume": 1038240, "typical_volume": 670494.6, "trend": 122.026193, "fair_value": 134.881425, "relative_strength": -25.702199, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -65.067714, "energy": 45.366008, "activity_lines": [ 102.235114, 104.773064, 111.369515, 115.864249 ] }, { "date": "2025-04-04", "close": 103.070076, "volume": 334628, "typical_volume": 681299.0, "trend": 120.823141, "fair_value": 135.016049, "relative_strength": -19.651234, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -57.618069, "energy": 41.087241, "activity_lines": [ 102.473582, 103.984301, 110.112764, 114.641273 ] }, { "date": "2025-04-11", "close": 99.346878, "volume": 350989, "typical_volume": 688321.2, "trend": 119.47194, "fair_value": 135.101224, "relative_strength": -21.683479, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -60.288764, "energy": 39.522904, "activity_lines": [ 101.348176, 102.746308, 108.603901, 113.255708 ] }, { "date": "2025-04-18", "close": 110.311783, "volume": 363415, "typical_volume": 617987.45, "trend": 118.557386, "fair_value": 135.281367, "relative_strength": -16.226094, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -42.641091, "energy": 28.553062, "activity_lines": [ 104.277349, 103.787775, 108.248058, 112.66473 ] }, { "date": "2025-04-25", "close": 103.187035, "volume": 294080, "typical_volume": 444413.85, "trend": 117.494359, "fair_value": 135.452555, "relative_strength": -21.552313, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -41.31975, "energy": 24.684252, "activity_lines": [ 104.002497, 103.611806, 107.227035, 111.673094 ] }, { "date": "2025-05-02", "close": 101.354675, "volume": 111896, "typical_volume": 391306.75, "trend": 116.435881, "fair_value": 135.629454, "relative_strength": -23.109447, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -44.675406, "energy": 25.511808, "activity_lines": [ 103.48138, 103.129084, 106.179881, 110.631825 ] }, { "date": "2025-05-09", "close": 98.908287, "volume": 192634, "typical_volume": 364033.45, "trend": 115.259144, "fair_value": 135.829193, "relative_strength": -23.219495, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -56.086055, "energy": 29.251745, "activity_lines": [ 101.966112, 102.402522, 105.043198, 109.501012 ] }, { "date": "2025-05-16", "close": 108.469681, "volume": 278233, "typical_volume": 369550.4, "trend": 114.499236, "fair_value": 136.049895, "relative_strength": -18.520115, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -39.328143, "energy": 22.494313, "activity_lines": [ 103.915429, 103.456571, 104.963462, 109.062982 ] }, { "date": "2025-05-23", "close": 109.434586, "volume": 281848, "typical_volume": 343575.45, "trend": 114.1019, "fair_value": 136.333362, "relative_strength": -16.567983, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -31.877637, "energy": 16.218226, "activity_lines": [ 105.578193, 104.629172, 105.049325, 108.736231 ] }, { "date": "2025-05-30", "close": 111.305931, "volume": 261400, "typical_volume": 341566.15, "trend": 113.363434, "fair_value": 136.610768, "relative_strength": -14.178335, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -11.354221, "energy": 10.007013, "activity_lines": [ 107.923219, 105.931846, 105.414172, 108.555845 ] }, { "date": "2025-06-06", "close": 111.179222, "volume": 361892, "typical_volume": 349457.15, "trend": 112.729581, "fair_value": 136.89639, "relative_strength": -14.587227, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -6.352061, "energy": 14.607968, "activity_lines": [ 109.684749, 107.163281, 105.819907, 108.414929 ] }, { "date": "2025-06-13", "close": 111.637314, "volume": 316451, "typical_volume": 352450.55, "trend": 112.297808, "fair_value": 137.209929, "relative_strength": -12.604767, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -3.728669, "energy": 15.454552, "activity_lines": [ 110.944007, 108.250645, 106.306076, 108.34446 ] }, { "date": "2025-06-20", "close": 110.769875, "volume": 152933, "typical_volume": 348342.4, "trend": 111.917367, "fair_value": 137.513995, "relative_strength": -13.959816, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -3.5228, "energy": 18.655331, "activity_lines": [ 111.065516, 109.024524, 106.728475, 108.245883 ] }, { "date": "2025-06-27", "close": 110.945313, "volume": 275654, "typical_volume": 353600.65, "trend": 111.844917, "fair_value": 137.787283, "relative_strength": -14.980117, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -3.480275, "energy": 19.845838, "activity_lines": [ 111.092159, 109.62261, 107.188049, 108.18317 ] }, { "date": "2025-07-04", "close": 122.504753, "volume": 682141, "typical_volume": 373349.95, "trend": 111.450181, "fair_value": 138.119321, "relative_strength": -4.765699, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 38.431569, "energy": 43.77765, "activity_lines": [ 114.871233, 112.310894, 108.765928, 108.870902 ] }, { "date": "2025-07-11", "close": 122.212349, "volume": 564611, "typical_volume": 377455.3, "trend": 111.141214, "fair_value": 138.422399, "relative_strength": -3.175869, "stage": 1, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 44.555617, "energy": 55.869236, "activity_lines": [ 117.806251, 114.594782, 110.230885, 109.565235 ] }, { "date": "2025-07-18", "close": 127.426781, "volume": 347320, "typical_volume": 385908.7, "trend": 111.067466, "fair_value": 138.762513, "relative_strength": 2.13591, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 51.733746, "energy": 69.392089, "activity_lines": [ 121.743871, 117.447519, 112.145763, 110.615917 ] }, { "date": "2025-07-25", "close": 127.90435, "volume": 331500, "typical_volume": 377618.3, "trend": 111.19937, "fair_value": 139.050312, "relative_strength": 3.464045, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "up", "direction": 74.275165, "energy": 82.754493, "activity_lines": [ 124.788049, 119.868568, 113.981368, 111.702167 ] }, { "date": "2025-08-01", "close": 124.43457, "volume": 211210, "typical_volume": 376816.2, "trend": 110.994041, "fair_value": 139.351383, "relative_strength": 2.199692, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 64.064984, "energy": 77.068485, "activity_lines": [ 125.533336, 121.30539, 115.379074, 112.556051 ] }, { "date": "2025-08-08", "close": 112.212364, "volume": 349193, "typical_volume": 355013.4, "trend": 110.653561, "fair_value": 139.576212, "relative_strength": -6.609249, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 56.205802, "energy": 42.550198, "activity_lines": [ 121.305271, 120.247266, 115.486286, 112.634653 ] }, { "date": "2025-08-15", "close": 111.003784, "volume": 164764, "typical_volume": 311339.6, "trend": 110.390078, "fair_value": 139.782159, "relative_strength": -8.147462, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 32.553662, "energy": 20.458713, "activity_lines": [ 117.360504, 118.952919, 115.461455, 112.657248 ] }, { "date": "2025-08-22", "close": 113.139999, "volume": 357205, "typical_volume": 312468.45, "trend": 110.308264, "fair_value": 139.975014, "relative_strength": -6.805899, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 27.919564, "energy": 23.271687, "activity_lines": [ 114.875048, 118.050166, 115.581362, 112.834662 ] }, { "date": "2025-08-29", "close": 111.050003, "volume": 545359, "typical_volume": 322186.95, "trend": 110.174327, "fair_value": 140.053649, "relative_strength": -6.465127, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 14.593679, "energy": 22.614562, "activity_lines": [ 112.645377, 116.740091, 115.454269, 112.882516 ] }, { "date": "2025-09-05", "close": 109.639999, "volume": 283662, "typical_volume": 318199.3, "trend": 110.008985, "fair_value": 140.067568, "relative_strength": -8.402, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 9.660174, "energy": 20.284509, "activity_lines": [ 111.069329, 115.168559, 115.137161, 112.848043 ] }, { "date": "2025-09-12", "close": 111.339996, "volume": 279814, "typical_volume": 317486.0, "trend": 110.232342, "fair_value": 140.077938, "relative_strength": -7.966995, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 4.594824, "energy": 15.99497, "activity_lines": [ 111.046251, 113.92985, 114.985156, 112.933915 ] }, { "date": "2025-09-19", "close": 110.290001, "volume": 216986, "typical_volume": 322740.5, "trend": 110.161766, "fair_value": 140.078567, "relative_strength": -9.24444, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 2.340228, "energy": 14.409458, "activity_lines": [ 110.731333, 112.703228, 114.694329, 112.937635 ] }, { "date": "2025-09-26", "close": 110.870003, "volume": 493079, "typical_volume": 337762.75, "trend": 110.483167, "fair_value": 140.094351, "relative_strength": -6.029526, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 5.480944, "energy": 12.934075, "activity_lines": [ 110.657334, 111.798831, 114.41619, 112.983328 ] }, { "date": "2025-10-03", "close": 110.43, "volume": 422696, "typical_volume": 344985.9, "trend": 110.652799, "fair_value": 139.921621, "relative_strength": -6.972167, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -14.232238, "energy": 14.238756, "activity_lines": [ 110.588, 111.115467, 114.039186, 112.979898 ] }, { "date": "2025-10-10", "close": 108.839996, "volume": 161046, "typical_volume": 338945.8, "trend": 111.018294, "fair_value": 139.689642, "relative_strength": -9.337968, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -18.541571, "energy": 16.530153, "activity_lines": [ 110.029999, 110.460726, 113.501418, 112.862943 ] }, { "date": "2025-10-17", "close": 107.139999, "volume": 148909, "typical_volume": 333321.25, "trend": 110.967799, "fair_value": 139.403427, "relative_strength": -11.82967, "stage": 1, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -22.539085, "energy": 21.992547, "activity_lines": [ 108.958666, 109.780432, 112.804577, 112.61273 ] }, { "date": "2025-10-24", "close": 107.629997, "volume": 106530, "typical_volume": 320553.15, "trend": 111.26632, "fair_value": 139.108315, "relative_strength": -11.414344, "stage": 4, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -30.389218, "energy": 30.636945, "activity_lines": [ 108.330665, 109.281453, 112.17424, 112.397388 ] }, { "date": "2025-10-31", "close": 107.629997, "volume": 127646, "typical_volume": 311112.9, "trend": 111.418317, "fair_value": 138.854434, "relative_strength": -10.686209, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "mixed", "direction": -29.442504, "energy": 33.86241, "activity_lines": [ 107.879997, 108.843817, 111.560804, 112.162786 ] }, { "date": "2025-11-07", "close": 102.519997, "volume": 185765, "typical_volume": 312754.5, "trend": 111.524088, "fair_value": 138.593981, "relative_strength": -13.674298, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "mixed", "direction": -46.835603, "energy": 53.929993, "activity_lines": [ 105.941997, 107.577271, 110.479785, 111.588701 ] }, { "date": "2025-11-14", "close": 103.199997, "volume": 241076, "typical_volume": 311025.6, "trend": 111.287028, "fair_value": 138.341799, "relative_strength": -14.037448, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -67.930526, "energy": 63.782797, "activity_lines": [ 104.757997, 106.589452, 109.502812, 111.051663 ] }, { "date": "2025-11-21", "close": 100.519997, "volume": 173715, "typical_volume": 285604.3, "trend": 111.198127, "fair_value": 138.078456, "relative_strength": -16.341977, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -74.004163, "energy": 71.945271, "activity_lines": [ 103.056664, 105.231452, 108.307483, 110.357016 ] }, { "date": "2025-11-28", "close": 97.849998, "volume": 216310, "typical_volume": 268189.25, "trend": 111.081305, "fair_value": 137.836221, "relative_strength": -18.659491, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -79.540685, "energy": 82.005865, "activity_lines": [ 100.906664, 103.584725, 106.962558, 109.495846 ] }, { "date": "2025-12-05", "close": 92.589996, "volume": 246017, "typical_volume": 263124.1, "trend": 110.870695, "fair_value": 137.608722, "relative_strength": -22.36294, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -86.807638, "energy": 88.914165, "activity_lines": [ 97.65533, 101.207815, 105.232692, 108.302859 ] }, { "date": "2025-12-12", "close": 91.120003, "volume": 259274, "typical_volume": 259512.8, "trend": 110.292372, "fair_value": 137.326356, "relative_strength": -22.594685, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -83.601655, "energy": 91.14267, "activity_lines": [ 94.916666, 98.895998, 103.528716, 107.02862 ] }, { "date": "2025-12-19", "close": 93.389999, "volume": 126628, "typical_volume": 255283.7, "trend": 109.757553, "fair_value": 137.13348, "relative_strength": -19.771795, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -69.816856, "energy": 86.360961, "activity_lines": [ 93.694666, 97.347998, 102.216093, 105.938145 ] }, { "date": "2025-12-26", "close": 92.330002, "volume": 330910, "typical_volume": 254369.55, "trend": 109.125022, "fair_value": 136.844423, "relative_strength": -20.346512, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -70.70753, "energy": 85.795684, "activity_lines": [ 92.773334, 95.888181, 100.95035, 104.813787 ] }, { "date": "2026-01-02", "close": 93.339996, "volume": 156203, "typical_volume": 253941.5, "trend": 108.530381, "fair_value": 136.593743, "relative_strength": -19.693109, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -66.37678, "energy": 71.082293, "activity_lines": [ 92.734666, 94.881271, 99.875475, 103.795398 ] }, { "date": "2026-01-09", "close": 93.68, "volume": 221174, "typical_volume": 247139.95, "trend": 107.931804, "fair_value": 136.327185, "relative_strength": -16.803984, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -63.311907, "energy": 57.095585, "activity_lines": [ 93.109999, 94.195999, 98.917094, 102.837309 ] }, { "date": "2026-01-16", "close": 92.239998, "volume": 79920, "typical_volume": 223868.0, "trend": 107.314141, "fair_value": 136.022202, "relative_strength": -17.563094, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -65.323004, "energy": 54.119801, "activity_lines": [ 92.932665, 93.502544, 97.914237, 101.824934 ] }, { "date": "2026-01-23", "close": 88.57, "volume": 191206, "typical_volume": 219245.2, "trend": 106.568297, "fair_value": 135.7894, "relative_strength": -18.272062, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -73.477864, "energy": 55.723885, "activity_lines": [ 91.457332, 92.328726, 96.651427, 100.615635 ] }, { "date": "2026-01-30", "close": 85.279999, "volume": 102684, "typical_volume": 210388.7, "trend": 105.327472, "fair_value": 135.563798, "relative_strength": -21.621331, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -78.262201, "energy": 61.050312, "activity_lines": [ 89.206666, 90.822726, 95.175618, 99.242196 ] }, { "date": "2026-02-06", "close": 87.730003, "volume": 98680, "typical_volume": 204473.4, "trend": 104.178061, "fair_value": 135.343067, "relative_strength": -20.02137, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -65.551929, "energy": 57.389023, "activity_lines": [ 88.242667, 90.039273, 94.057237, 98.106876 ] }, { "date": "2026-02-13", "close": 92.360001, "volume": 421876, "typical_volume": 200913.25, "trend": 103.009168, "fair_value": 135.173083, "relative_strength": -14.704407, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -60.824525, "energy": 49.31882, "activity_lines": [ 89.196001, 90.281637, 93.487237, 97.34442 ] }, { "date": "2026-02-20", "close": 90.870003, "volume": 92342, "typical_volume": 184395.55, "trend": 101.77469, "fair_value": 135.032672, "relative_strength": -15.884992, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -57.92686, "energy": 42.575512, "activity_lines": [ 89.740668, 90.257273, 92.863476, 96.561248 ] }, { "date": "2026-02-27", "close": 89.589996, "volume": 130231, "typical_volume": 182854.8, "trend": 100.613204, "fair_value": 134.847339, "relative_strength": -15.384975, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -55.928055, "energy": 35.429422, "activity_lines": [ 89.95, 90.004727, 92.210952, 95.775139 ] }, { "date": "2026-03-06", "close": 84.269997, "volume": 174051, "typical_volume": 184111.9, "trend": 99.681792, "fair_value": 134.609846, "relative_strength": -17.577631, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -70.249286, "energy": 42.50312, "activity_lines": [ 88.317999, 88.853999, 91.143428, 94.720738 ] }, { "date": "2026-03-13", "close": 79.459999, "volume": 263223, "typical_volume": 191946.55, "trend": 98.630332, "fair_value": 134.391178, "relative_strength": -17.564767, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -79.582396, "energy": 56.90287, "activity_lines": [ 85.149999, 86.975272, 89.726714, 93.416107 ] }, { "date": "2026-03-20", "close": 77.629997, "volume": 553899, "typical_volume": 213259.2, "trend": 97.446666, "fair_value": 134.144828, "relative_strength": -18.85048, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -77.01504, "energy": 74.408812, "activity_lines": [ 81.923331, 85.016181, 88.269856, 92.061246 ] }, { "date": "2026-03-27", "close": 68.489998, "volume": 1073188, "typical_volume": 257630.35, "trend": 96.027999, "fair_value": 133.853432, "relative_strength": -27.075006, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -88.943426, "energy": 90.733592, "activity_lines": [ 76.631998, 81.68709, 86.08538, 90.193074 ] }, { "date": "2026-04-03", "close": 69.949997, "volume": 453473, "typical_volume": 268250.2, "trend": 94.704999, "fair_value": 133.491339, "relative_strength": -24.671331, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -79.675822, "energy": 90.030985, "activity_lines": [ 73.319331, 79.055271, 84.201999, 88.510622 ] }, { "date": "2026-04-10", "close": 83.730003, "volume": 677177, "typical_volume": 293423.3, "trend": 93.784666, "fair_value": 133.191697, "relative_strength": -14.496077, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -64.62077, "energy": 63.555442, "activity_lines": [ 75.909333, 79.267454, 83.789333, 87.802558 ] }, { "date": "2026-04-17", "close": 84.849998, "volume": 321284, "typical_volume": 298672.0, "trend": 92.936666, "fair_value": 132.907661, "relative_strength": -13.966659, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -59.164142, "energy": 44.959839, "activity_lines": [ 78.908666, 79.711453, 83.563285, 87.226128 ] }, { "date": "2026-04-24", "close": 80.230003, "volume": 572555, "typical_volume": 314998.9, "trend": 91.915332, "fair_value": 132.520575, "relative_strength": -16.730403, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -43.144721, "energy": 28.571477, "activity_lines": [ 80.008667, 79.367818, 82.959142, 86.406343 ] }, { "date": "2026-05-01", "close": 78.160004, "volume": 402614, "typical_volume": 322165.9, "trend": 90.839666, "fair_value": 132.108482, "relative_strength": -18.864902, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -40.817491, "energy": 23.33129, "activity_lines": [ 80.245335, 78.868364, 82.216714, 85.518903 ] }, { "date": "2026-05-08", "close": 79.839996, "volume": 419467, "typical_volume": 336807.85, "trend": 89.872999, "fair_value": 131.686392, "relative_strength": -17.409827, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -37.631316, "energy": 20.81016, "activity_lines": [ 80.397334, 78.905454, 81.696, 84.809247 ] }, { "date": "2026-05-15", "close": 78.260002, "volume": 411982, "typical_volume": 340861.45, "trend": 88.910332, "fair_value": 131.161478, "relative_strength": -16.810204, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -42.274411, "energy": 27.358651, "activity_lines": [ 79.363334, 78.832546, 81.089333, 84.060021 ] }, { "date": "2026-05-22", "close": 80.989998, "volume": 326714, "typical_volume": 349387.0, "trend": 88.022332, "fair_value": 130.751876, "relative_strength": -13.771299, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -38.646116, "energy": 24.249099, "activity_lines": [ 79.604, 79.365273, 80.809666, 83.549032 ] }, { "date": "2026-05-29", "close": 75.580002, "volume": 453995, "typical_volume": 361028.05, "trend": 86.953999, "fair_value": 130.317827, "relative_strength": -18.435024, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -58.355361, "energy": 32.57976, "activity_lines": [ 78.298667, 78.886546, 80.073571, 82.746301 ] }, { "date": "2026-06-05", "close": 76.82, "volume": 33764, "typical_volume": 358720.25, "trend": 86.097333, "fair_value": 129.862534, "relative_strength": -15.978563, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -54.510039, "energy": 32.587405, "activity_lines": [ 77.716667, 78.670546, 79.541762, 82.092494 ] }, { "date": "2026-06-12", "close": 74.779999, "volume": 25592, "typical_volume": 350439.55, "trend": 85.149999, "fair_value": 129.316817, "relative_strength": -18.556168, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -58.580522, "energy": 35.588867, "activity_lines": [ 76.544, 77.932182, 78.889095, 81.362344 ] }, { "date": "2026-06-19", "close": 75.550003, "volume": 146079, "typical_volume": 352609.3, "trend": 84.317666, "fair_value": 128.776036, "relative_strength": -18.544872, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -57.377358, "energy": 45.147365, "activity_lines": [ 75.965334, 77.246001, 78.375429, 80.742989 ] }, { "date": "2026-06-26", "close": 76.419998, "volume": 0, "typical_volume": 347675.3, "trend": 83.603333, "fair_value": 128.089872, "relative_strength": -17.279914, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -54.284929, "energy": 43.059945, "activity_lines": [ 75.857333, 76.866727, 77.990952, 80.233462 ] }, { "date": "2026-07-03", "close": 77.040001, "volume": 65654, "typical_volume": 329864.2, "trend": 83.085, "fair_value": 127.401866, "relative_strength": -16.663735, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -52.988629, "energy": 35.84265, "activity_lines": [ 76.260667, 76.753455, 77.719381, 79.810021 ] }, { "date": "2026-07-10", "close": 75.620003, "volume": 155689, "typical_volume": 333031.55, "trend": 82.568333, "fair_value": 126.736906, "relative_strength": -17.258688, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -55.524997, "energy": 35.286914, "activity_lines": [ 76.093335, 76.440001, 77.385524, 79.328409 ] }, { "date": "2026-07-17", "close": 76.290001, "volume": 230484, "typical_volume": 338044.2, "trend": 81.998333, "fair_value": 126.060932, "relative_strength": -16.121623, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -49.808079, "energy": 29.130609, "activity_lines": [ 76.229335, 76.294546, 77.188096, 78.923355 ] }, { "date": "2026-07-24", "close": 77.360001, "volume": 927183, "typical_volume": 375700.8, "trend": 81.499333, "fair_value": 125.420597, "relative_strength": -12.059271, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -36.239491, "energy": 20.110111, "activity_lines": [ 76.621335, 76.408183, 77.155905, 78.624108 ] }, { "date": "2026-07-31", "close": 78.050003, "volume": 498038, "typical_volume": 387441.55, "trend": 80.989667, "fair_value": 124.793872, "relative_strength": -12.670874, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -32.56206, "energy": 16.344975, "activity_lines": [ 77.122669, 76.663638, 77.222334, 78.40157 ] }, { "date": "2026-08-07", "close": 86.040001, "volume": 977019, "typical_volume": 408597.55, "trend": 80.735, "fair_value": 124.139063, "relative_strength": -3.907219, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": 11.062245, "energy": 16.15739, "activity_lines": [ 80.178668, 78.425274, 78.05643, 78.727398 ] } ], "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." } } }