{ "ticker": { "uuid": "80606ba6-3f6e-4d5b-a631-584b1365889e", "symbol": "ITKY", "name": "iShares MSCI Turkey UCITS ETF USD (Dist)", "exchange": "AMS", "country": "NL", "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": "^AEX", "stage": 3, "stage_name": "Distribution", "phase": "3c", "phase_label": "Stage 3C \u00b7 Breakdown watch", "transition": "stage_3_to_4_watch", "transition_label": "Stage 3 \u2192 4 watch", "confidence": 74.32, "architecture_regime": "balance", "architecture_regime_label": "Balance", "architecture_modifier": "Upper balance after advance", "architecture_gate": "mixed", "architecture_direction": -28.577, "architecture_energy": 35.081, "architecture_maturity": 22.511, "architecture_confidence": 60.985, "architecture_tenure": "Developing", "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": 49.23, "rotation_up": 19.99, "upward_expansion": 14.43, "deceleration": 46.65, "rotation_down": 54.8, "downward_expansion": 53.77 }, "activity_lines": [ 18.847333, 19.089745, 19.268317, 19.30724 ], "activity_state": "Compressed", "activity_direction": "Expanding", "rotation_direction": "Weakening", "price_acceptance": -0.666667 }, "latest_close": 18.688, "trend_reference": 19.293693, "distance_from_trend": -0.031393, "trend_direction": "Improving", "fair_value": 17.6529, "distance_from_fair_value": 0.058636, "fair_value_direction": "Weakening", "relative_strength": -6.762378, "relative_strength_direction": "Weakening", "price_momentum": -0.013165, "excess_performance": -0.129827, "evidence": [ { "label": "Price vs Trend", "positive": false, "value": -0.031393, "read": "Below" }, { "label": "Trend direction", "positive": true, "value": 0.058607, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.058636, "read": "Premium" }, { "label": "Fair Value direction", "positive": false, "value": -0.137285, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.067624, "read": "Lagging" }, { "label": "Relative strength direction", "positive": false, "value": -0.208787, "read": "Weakening" }, { "label": "Price momentum", "positive": false, "value": -0.013165, "read": "Negative" }, { "label": "Volume balance", "positive": false, "value": 0.10029, "read": "Supply-led" } ], "volume": { "latest": 3509, "relative_activity": 0.191353, "balance": 0.10029, "dry_up": 1.109239, "accumulation_observations": 0, "distribution_observations": 3 }, "risk": { "range_context": 0.051748, "annualized_volatility": 0.234502, "from_high_reference": -0.105963, "from_low_reference": 0.273333 }, "levels": { "trend_reference": 19.293693, "fair_value_reference": 17.6529, "structural_low": 17.642, "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": 17, "median_return": -0.002346, "positive_rate": 0.470588, "directional_follow_through": 0.470588, "median_excess_return": 0.013436, "regime_survival": 0.529412, "best_return": 0.263499, "worst_return": -0.138466, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 8, "median_return": 0.087231, "positive_rate": 0.625, "directional_follow_through": 0.625, "median_excess_return": 0.131915, "regime_survival": 0.125, "best_return": 0.408154, "worst_return": -0.157941, "sufficient": true }, { "horizon": "Extended", "sample_count": 6, "median_return": 0.193626, "positive_rate": 0.833333, "directional_follow_through": 0.833333, "median_excess_return": 0.228354, "regime_survival": 0.0, "best_return": 0.334784, "worst_return": -0.043072, "sufficient": true }, { "horizon": "Full cycle", "sample_count": 3, "median_return": 0.186025, "positive_rate": 1.0, "directional_follow_through": 1.0, "median_excess_return": 0.032459, "regime_survival": 0.0, "best_return": 0.477855, "worst_return": 0.117871, "sufficient": false } ], "ledger": [ { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2024-08-30", "end": "2024-10-04", "tenure": "Developing", "return": -0.06992, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2024-10-11", "end": "2024-12-06", "tenure": "Developing", "return": 0.149845, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2024-12-13", "end": "2025-02-14", "tenure": "Developing", "return": -0.060279, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-02-21", "end": "2025-03-14", "tenure": "New", "return": 0.091501, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2025-03-21", "end": "2025-04-04", "tenure": "New", "return": 0.026776, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-04-11", "end": "2025-08-01", "tenure": "Established", "return": 0.092224, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2025-08-08", "end": "2025-09-12", "tenure": "Developing", "return": -0.065943, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2025-09-19", "end": "2025-10-03", "tenure": "New", "return": -0.033689, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-10-10", "end": "2025-10-17", "tenure": "New", "return": -0.071926, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-10-24", "end": "2026-01-09", "tenure": "Developing", "return": 0.116602, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-01-16", "end": "2026-03-20", "tenure": "Developing", "return": 0.013382, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2026-03-27", "end": "2026-04-17", "tenure": "New", "return": 0.12675, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-04-24", "end": "2026-05-29", "tenure": "Developing", "return": -0.097538, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-06-05", "end": "2026-08-07", "tenure": "Developing", "return": 0.01049, "active": true } ], "chart_path": [ { "date": "2023-08-18", "close": 15.759706, "volume": 19816, "typical_volume": 45824.2, "trend": 14.657523, "fair_value": 10.949628, "relative_strength": 9.319485, "stage": 3, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 29.159851, "energy": 63.419539, "activity_lines": [ 15.704705, 14.991556, 14.48902, 14.524964 ] }, { "date": "2023-08-25", "close": 16.864408, "volume": 39760, "typical_volume": 45575.05, "trend": 14.70111, "fair_value": 11.002346, "relative_strength": 16.425925, "stage": 3, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 54.435898, "energy": 75.342256, "activity_lines": [ 16.197317, 15.426726, 14.731219, 14.667344 ] }, { "date": "2023-09-01", "close": 17.089493, "volume": 12499, "typical_volume": 45409.7, "trend": 14.766231, "fair_value": 11.057878, "relative_strength": 15.2908, "stage": 2, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "up", "direction": 81.187125, "energy": 88.068995, "activity_lines": [ 16.573211, 15.845474, 14.985195, 14.821433 ] }, { "date": "2023-09-08", "close": 17.873053, "volume": 22762, "typical_volume": 45951.4, "trend": 14.916648, "fair_value": 11.11806, "relative_strength": 21.039248, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 87.191829, "energy": 93.329827, "activity_lines": [ 17.082336, 16.337562, 15.304676, 15.021873 ] }, { "date": "2023-09-15", "close": 16.899258, "volume": 21516, "typical_volume": 43583.55, "trend": 14.958285, "fair_value": 11.173213, "relative_strength": 13.531347, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 67.229009, "energy": 84.053978, "activity_lines": [ 17.116367, 16.564496, 15.516663, 15.149783 ] }, { "date": "2023-09-22", "close": 16.997198, "volume": 2605, "typical_volume": 39957.85, "trend": 15.009348, "fair_value": 11.227517, "relative_strength": 15.423677, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 65.269847, "energy": 78.01095, "activity_lines": [ 17.149705, 16.753331, 15.722987, 15.281326 ] }, { "date": "2023-09-29", "close": 17.724251, "volume": 8797, "typical_volume": 37152.0, "trend": 15.070432, "fair_value": 11.286794, "relative_strength": 19.745571, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 74.302364, "energy": 68.390029, "activity_lines": [ 17.342895, 17.018535, 15.980366, 15.456481 ] }, { "date": "2023-10-06", "close": 17.873995, "volume": 21247, "typical_volume": 35043.4, "trend": 15.115338, "fair_value": 11.347591, "relative_strength": 20.478778, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 72.493331, "energy": 61.85048, "activity_lines": [ 17.528676, 17.243038, 16.238199, 15.637356 ] }, { "date": "2023-10-13", "close": 17.188379, "volume": 53140, "typical_volume": 34514.35, "trend": 15.162373, "fair_value": 11.403417, "relative_strength": 14.314843, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 61.111086, "energy": 53.258969, "activity_lines": [ 17.433619, 17.293722, 16.406889, 15.771101 ] }, { "date": "2023-10-20", "close": 15.551571, "volume": 22658, "typical_volume": 31498.9, "trend": 15.171045, "fair_value": 11.449914, "relative_strength": 5.889606, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 37.440036, "energy": 31.67365, "activity_lines": [ 16.838604, 17.01821, 16.402324, 15.79621 ] }, { "date": "2023-10-27", "close": 15.809618, "volume": 6990, "typical_volume": 25091.3, "trend": 15.209914, "fair_value": 11.503303, "relative_strength": 7.66783, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 32.908416, "energy": 22.344725, "activity_lines": [ 16.41945, 16.805025, 16.416782, 15.837409 ] }, { "date": "2023-11-03", "close": 15.814325, "volume": 8960, "typical_volume": 24102.75, "trend": 15.242535, "fair_value": 11.554751, "relative_strength": 4.413776, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 21.940755, "energy": 25.205262, "activity_lines": [ 16.081038, 16.59179, 16.424904, 15.876403 ] }, { "date": "2023-11-10", "close": 15.68342, "volume": 44995, "typical_volume": 25309.2, "trend": 15.259506, "fair_value": 11.593527, "relative_strength": 2.07016, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 2.032045, "energy": 21.422214, "activity_lines": [ 15.826318, 16.373845, 16.410539, 15.904847 ] }, { "date": "2023-11-17", "close": 15.75114, "volume": 34940, "typical_volume": 26785.6, "trend": 15.292034, "fair_value": 11.631438, "relative_strength": 0.745616, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 2.887523, "energy": 19.803654, "activity_lines": [ 15.740211, 16.193778, 16.391215, 15.936565 ] }, { "date": "2023-11-24", "close": 15.889557, "volume": 7363, "typical_volume": 24359.6, "trend": 15.36331, "fair_value": 11.672576, "relative_strength": 0.742408, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 2.982097, "energy": 17.192418, "activity_lines": [ 15.796058, 16.077459, 16.372105, 15.975115 ] }, { "date": "2023-12-01", "close": 16.429951, "volume": 9046, "typical_volume": 24156.0, "trend": 15.471724, "fair_value": 11.718372, "relative_strength": 3.331871, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 10.886376, "energy": 11.582094, "activity_lines": [ 16.009505, 16.077751, 16.394626, 16.043931 ] }, { "date": "2023-12-08", "close": 16.388237, "volume": 15587, "typical_volume": 23994.45, "trend": 15.523841, "fair_value": 11.761837, "relative_strength": 1.694517, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 23.982169, "energy": 13.848982, "activity_lines": [ 16.167691, 16.080772, 16.401256, 16.103061 ] }, { "date": "2023-12-15", "close": 16.48494, "volume": 25487, "typical_volume": 23114.15, "trend": 15.644459, "fair_value": 11.803286, "relative_strength": 0.963011, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 32.595237, "energy": 21.304457, "activity_lines": [ 16.31985, 16.125666, 16.405667, 16.165067 ] }, { "date": "2023-12-22", "close": 15.486628, "volume": 10966, "typical_volume": 21783.7, "trend": 15.709318, "fair_value": 11.837383, "relative_strength": -3.89627, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 11.596373, "energy": 10.381752, "activity_lines": [ 16.085805, 16.014305, 16.30874, 16.154884 ] }, { "date": "2023-12-29", "close": 14.884608, "volume": 26242, "typical_volume": 20768.8, "trend": 15.72595, "fair_value": 11.864908, "relative_strength": -7.354535, "stage": 3, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -30.334836, "energy": 29.083991, "activity_lines": [ 15.66872, 15.824427, 16.155092, 16.101677 ] }, { "date": "2024-01-05", "close": 15.220224, "volume": 12933, "typical_volume": 20424.65, "trend": 15.7538, "fair_value": 11.890759, "relative_strength": -4.049758, "stage": 3, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -32.199673, "energy": 45.998412, "activity_lines": [ 15.430504, 15.707696, 16.040619, 16.06905 ] }, { "date": "2024-01-12", "close": 15.99005, "volume": 24222, "typical_volume": 19647.75, "trend": 15.829789, "fair_value": 11.923136, "relative_strength": 0.331306, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -26.427826, "energy": 41.985025, "activity_lines": [ 15.529544, 15.74165, 16.002032, 16.084292 ] }, { "date": "2024-01-19", "close": 15.962557, "volume": 11285, "typical_volume": 19587.05, "trend": 15.918956, "fair_value": 11.956008, "relative_strength": 0.70456, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -24.365199, "energy": 35.734562, "activity_lines": [ 15.645967, 15.767411, 15.96499, 16.092857 ] }, { "date": "2024-01-26", "close": 16.540878, "volume": 6184, "typical_volume": 18758.15, "trend": 16.036065, "fair_value": 11.995729, "relative_strength": -0.557994, "stage": 2, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": 9.097467, "energy": 9.131581, "activity_lines": [ 15.989988, 15.893245, 15.988393, 16.132981 ] }, { "date": "2024-02-02", "close": 17.045246, "volume": 22431, "typical_volume": 18803.9, "trend": 16.143428, "fair_value": 12.033323, "relative_strength": 1.790071, "stage": 2, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 39.0111, "energy": 33.846505, "activity_lines": [ 16.431849, 16.096424, 16.066175, 16.19809 ] }, { "date": "2024-02-09", "close": 17.46998, "volume": 9228, "typical_volume": 19135.05, "trend": 16.261528, "fair_value": 12.073112, "relative_strength": 0.484204, "stage": 2, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 49.038902, "energy": 59.379976, "activity_lines": [ 16.871245, 16.355814, 16.183712, 16.283674 ] }, { "date": "2024-02-16", "close": 17.934532, "volume": 16133, "typical_volume": 19501.85, "trend": 16.393071, "fair_value": 12.115703, "relative_strength": 2.351318, "stage": 2, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 47.20153, "energy": 71.069633, "activity_lines": [ 17.315509, 16.680759, 16.343241, 16.39161 ] }, { "date": "2024-02-23", "close": 17.765776, "volume": 9164, "typical_volume": 18897.7, "trend": 16.479592, "fair_value": 12.164008, "relative_strength": 1.754867, "stage": 2, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "up", "direction": 73.299493, "energy": 83.032493, "activity_lines": [ 17.573888, 16.946907, 16.485697, 16.480171 ] }, { "date": "2024-03-01", "close": 16.996895, "volume": 9488, "typical_volume": 16715.1, "trend": 16.525635, "fair_value": 12.205596, "relative_strength": -2.458478, "stage": 2, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 38.117713, "energy": 65.657816, "activity_lines": [ 17.455759, 17.04997, 16.555441, 16.513546 ] }, { "date": "2024-03-08", "close": 16.753244, "volume": 16410, "typical_volume": 16402.7, "trend": 16.537437, "fair_value": 12.245083, "relative_strength": -4.480788, "stage": 2, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 33.286914, "energy": 36.683023, "activity_lines": [ 17.226011, 17.081274, 16.602892, 16.52823 ] }, { "date": "2024-03-15", "close": 16.195784, "volume": 6977, "typical_volume": 16402.05, "trend": 16.551973, "fair_value": 12.277667, "relative_strength": -6.305386, "stage": 3, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 1.268873, "energy": 8.375332, "activity_lines": [ 16.829911, 16.977245, 16.59153, 16.506188 ] }, { "date": "2024-03-22", "close": 17.350525, "volume": 9080, "typical_volume": 16408.05, "trend": 16.568177, "fair_value": 12.331235, "relative_strength": -2.33666, "stage": 3, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 18.494026, "energy": 15.475306, "activity_lines": [ 16.903671, 17.065433, 16.688304, 16.557707 ] }, { "date": "2024-03-29", "close": 17.36759, "volume": 14838, "typical_volume": 14900.2, "trend": 16.577447, "fair_value": 12.383575, "relative_strength": -2.874205, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 45.236499, "energy": 22.386065, "activity_lines": [ 17.022052, 17.131987, 16.779388, 16.609282 ] }, { "date": "2024-04-05", "close": 19.11108, "volume": 31004, "typical_volume": 14703.4, "trend": 16.618715, "fair_value": 12.449133, "relative_strength": 6.795128, "stage": 2, "regime": "deceleration", "modifier": "Re-acceleration watch", "gate": "up", "direction": 82.182173, "energy": 58.554706, "activity_lines": [ 17.748143, 17.489994, 17.028498, 16.772743 ] }, { "date": "2024-04-12", "close": 19.037128, "volume": 37806, "typical_volume": 16225.55, "trend": 16.689977, "fair_value": 12.512875, "relative_strength": 5.880058, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 82.159465, "energy": 85.30693, "activity_lines": [ 18.308638, 17.787823, 17.254566, 16.928769 ] }, { "date": "2024-04-19", "close": 19.196404, "volume": 37452, "typical_volume": 17645.85, "trend": 16.763284, "fair_value": 12.581578, "relative_strength": 9.372464, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 77.542166, "energy": 88.050769, "activity_lines": [ 18.769965, 18.078396, 17.480815, 17.090474 ] }, { "date": "2024-04-26", "close": 19.643892, "volume": 15702, "typical_volume": 17651.6, "trend": 16.827272, "fair_value": 12.651404, "relative_strength": 8.63134, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 81.479524, "energy": 92.226009, "activity_lines": [ 19.180414, 18.418941, 17.736508, 17.27632 ] }, { "date": "2024-05-03", "close": 20.451645, "volume": 15507, "typical_volume": 17152.6, "trend": 16.913193, "fair_value": 12.724582, "relative_strength": 11.908881, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 87.177578, "energy": 94.077498, "activity_lines": [ 19.707223, 18.87527, 18.053627, 17.51015 ] }, { "date": "2024-05-10", "close": 20.315121, "volume": 27456, "typical_volume": 17977.1, "trend": 17.017418, "fair_value": 12.798926, "relative_strength": 8.07114, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 77.995185, "energy": 89.755257, "activity_lines": [ 19.98292, 19.257944, 18.338854, 17.72963 ] }, { "date": "2024-05-17", "close": 21.297352, "volume": 57495, "typical_volume": 19539.75, "trend": 17.208944, "fair_value": 12.878639, "relative_strength": 12.2815, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 87.397643, "energy": 92.378767, "activity_lines": [ 20.505758, 19.758873, 18.694635, 18.005754 ] }, { "date": "2024-05-24", "close": 21.580664, "volume": 18889, "typical_volume": 19837.55, "trend": 17.401312, "fair_value": 12.961209, "relative_strength": 12.90992, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 83.160308, "energy": 88.233476, "activity_lines": [ 20.972352, 20.228693, 19.04686, 18.287801 ] }, { "date": "2024-05-31", "close": 21.076681, "volume": 21169, "typical_volume": 19684.9, "trend": 17.576724, "fair_value": 13.040745, "relative_strength": 11.225943, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 67.590608, "energy": 69.813758, "activity_lines": [ 21.112, 20.508973, 19.3208, 18.524921 ] }, { "date": "2024-06-07", "close": 20.438751, "volume": 33659, "typical_volume": 20803.6, "trend": 17.735235, "fair_value": 13.112468, "relative_strength": 5.205377, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 65.36081, "energy": 63.96748, "activity_lines": [ 20.943486, 20.605518, 19.509762, 18.709568 ] }, { "date": "2024-06-14", "close": 21.025608, "volume": 36212, "typical_volume": 22305.0, "trend": 17.911051, "fair_value": 13.191231, "relative_strength": 8.304687, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 64.990423, "energy": 58.736016, "activity_lines": [ 20.971451, 20.752924, 19.7333, 18.92185 ] }, { "date": "2024-06-21", "close": 21.672209, "volume": 22990, "typical_volume": 22332.95, "trend": 18.103806, "fair_value": 13.274494, "relative_strength": 10.261731, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 74.528823, "energy": 60.801561, "activity_lines": [ 21.167584, 20.983085, 19.997063, 19.164506 ] }, { "date": "2024-06-28", "close": 21.280008, "volume": 35838, "typical_volume": 23663.45, "trend": 18.265475, "fair_value": 13.354566, "relative_strength": 7.822774, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 64.007803, "energy": 54.897741, "activity_lines": [ 21.207992, 21.094026, 20.201441, 19.369422 ] }, { "date": "2024-07-05", "close": 21.651009, "volume": 33844, "typical_volume": 24549.0, "trend": 18.4409, "fair_value": 13.436444, "relative_strength": 8.067408, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 69.895676, "energy": 59.591809, "activity_lines": [ 21.392111, 21.234538, 20.423009, 19.587844 ] }, { "date": "2024-07-12", "close": 21.44961, "volume": 15402, "typical_volume": 24860.9, "trend": 18.606389, "fair_value": 13.517021, "relative_strength": 5.343678, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 62.481461, "energy": 54.315922, "activity_lines": [ 21.470809, 21.301939, 20.607698, 19.781954 ] }, { "date": "2024-07-19", "close": 21.707861, "volume": 36035, "typical_volume": 26188.25, "trend": 18.813764, "fair_value": 13.599778, "relative_strength": 10.453771, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 66.371472, "energy": 53.633678, "activity_lines": [ 21.5682, 21.39815, 20.799441, 19.982049 ] }, { "date": "2024-07-26", "close": 21.197134, "volume": 30183, "typical_volume": 26876.9, "trend": 19.024181, "fair_value": 13.676594, "relative_strength": 7.526181, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 59.722311, "energy": 47.039219, "activity_lines": [ 21.449865, 21.376179, 20.92011, 20.135815 ] }, { "date": "2024-08-02", "close": 20.060041, "volume": 14707, "typical_volume": 27263.4, "trend": 19.185509, "fair_value": 13.744951, "relative_strength": 4.726393, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 36.536703, "energy": 25.782001, "activity_lines": [ 20.98417, 21.149286, 20.911324, 20.202644 ] }, { "date": "2024-08-09", "close": 18.712879, "volume": 38570, "typical_volume": 28737.9, "trend": 19.276269, "fair_value": 13.803197, "relative_strength": -2.778558, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": -10.648068, "energy": 17.778354, "activity_lines": [ 20.150753, 20.705102, 20.755834, 20.172152 ] }, { "date": "2024-08-16", "close": 18.475824, "volume": 43887, "typical_volume": 30190.35, "trend": 19.360045, "fair_value": 13.858753, "relative_strength": -6.28763, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": -20.128346, "energy": 35.303256, "activity_lines": [ 19.434193, 20.260795, 20.571281, 20.12051 ] }, { "date": "2024-08-23", "close": 17.740568, "volume": 18413, "typical_volume": 29560.8, "trend": 19.400035, "fair_value": 13.908195, "relative_strength": -10.027409, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "mixed", "direction": -45.244297, "energy": 61.15617, "activity_lines": [ 18.670799, 19.718495, 20.311426, 20.016028 ] }, { "date": "2024-08-30", "close": 18.343805, "volume": 41062, "typical_volume": 29723.6, "trend": 19.44332, "fair_value": 13.961786, "relative_strength": -7.750649, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -30.976098, "energy": 67.025377, "activity_lines": [ 18.372971, 19.345602, 20.115549, 19.947884 ] }, { "date": "2024-09-06", "close": 18.060495, "volume": 23393, "typical_volume": 29020.65, "trend": 19.463004, "fair_value": 14.016019, "relative_strength": -4.80065, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -34.369853, "energy": 69.03774, "activity_lines": [ 18.170928, 18.981715, 19.895991, 19.85867 ] }, { "date": "2024-09-13", "close": 18.006531, "volume": 32899, "typical_volume": 29880.5, "trend": 19.465404, "fair_value": 14.071654, "relative_strength": -6.998003, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -42.338187, "energy": 68.381319, "activity_lines": [ 18.084201, 18.666553, 19.676702, 19.764704 ] }, { "date": "2024-09-20", "close": 18.341879, "volume": 24518, "typical_volume": 30331.05, "trend": 19.484607, "fair_value": 14.132783, "relative_strength": -4.807565, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -37.067153, "energy": 43.950285, "activity_lines": [ 18.156345, 18.478627, 19.497149, 19.692218 ] }, { "date": "2024-09-27", "close": 18.145294, "volume": 15013, "typical_volume": 29708.9, "trend": 19.522887, "fair_value": 14.191432, "relative_strength": -7.492092, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -36.349327, "energy": 40.265639, "activity_lines": [ 18.171892, 18.311462, 19.30892, 19.605811 ] }, { "date": "2024-10-04", "close": 17.061205, "volume": 22495, "typical_volume": 27958.9, "trend": 19.533153, "fair_value": 14.243505, "relative_strength": -12.017151, "stage": 3, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -78.772524, "energy": 57.427591, "activity_lines": [ 17.799093, 18.011963, 19.027776, 19.446993 ] }, { "date": "2024-10-11", "close": 16.654549, "volume": 8331, "typical_volume": 27431.0, "trend": 19.548445, "fair_value": 14.294485, "relative_strength": -14.096486, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -80.186698, "energy": 69.022985, "activity_lines": [ 17.376249, 17.713726, 18.728076, 19.261276 ] }, { "date": "2024-10-18", "close": 16.544695, "volume": 12877, "typical_volume": 27016.4, "trend": 19.521584, "fair_value": 14.344671, "relative_strength": -13.209581, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -76.218055, "energy": 79.622592, "activity_lines": [ 17.010517, 17.457434, 18.441371, 19.067486 ] }, { "date": "2024-10-25", "close": 16.807766, "volume": 16283, "typical_volume": 26147.6, "trend": 19.502923, "fair_value": 14.395006, "relative_strength": -11.101019, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -66.815469, "energy": 80.430666, "activity_lines": [ 16.829931, 17.288394, 18.201301, 18.892401 ] }, { "date": "2024-11-01", "close": 16.560112, "volume": 17143, "typical_volume": 25194.15, "trend": 19.417891, "fair_value": 14.441091, "relative_strength": -10.680729, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -70.36895, "energy": 81.554353, "activity_lines": [ 16.669067, 17.104655, 17.954936, 18.702542 ] }, { "date": "2024-11-08", "close": 17.296329, "volume": 24805, "typical_volume": 25284.9, "trend": 19.359864, "fair_value": 14.490828, "relative_strength": -5.596105, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -64.564469, "energy": 58.830456, "activity_lines": [ 16.859289, 17.076236, 17.799951, 18.565667 ] }, { "date": "2024-11-15", "close": 18.00416, "volume": 12594, "typical_volume": 24122.7, "trend": 19.320123, "fair_value": 14.546949, "relative_strength": -0.412118, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -48.935647, "energy": 39.451349, "activity_lines": [ 17.269779, 17.195559, 17.733216, 18.478202 ] }, { "date": "2024-11-22", "close": 18.506374, "volume": 7343, "typical_volume": 22797.65, "trend": 19.282205, "fair_value": 14.611127, "relative_strength": 0.326988, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -35.48132, "energy": 22.894951, "activity_lines": [ 17.757699, 17.407217, 17.729909, 18.425703 ] }, { "date": "2024-11-29", "close": 18.467596, "volume": 13769, "typical_volume": 22716.0, "trend": 19.21607, "fair_value": 14.677507, "relative_strength": -0.069842, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -23.204072, "energy": 26.602529, "activity_lines": [ 18.101915, 17.602737, 17.737885, 18.373147 ] }, { "date": "2024-12-06", "close": 19.150146, "volume": 16480, "typical_volume": 21738.25, "trend": 19.177238, "fair_value": 14.744976, "relative_strength": 2.419875, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": 10.019242, "energy": 27.354455, "activity_lines": [ 18.562992, 17.920071, 17.825065, 18.368894 ] }, { "date": "2024-12-13", "close": 19.123968, "volume": 14887, "typical_volume": 20973.45, "trend": 19.104792, "fair_value": 14.81852, "relative_strength": 2.006901, "stage": 4, "regime": "rotation_up", "modifier": "Structural repair", "gate": "down", "direction": 11.094398, "energy": 31.576798, "activity_lines": [ 18.842675, 18.214376, 17.921931, 18.365457 ] }, { "date": "2024-12-20", "close": 18.355129, "volume": 23580, "typical_volume": 21417.1, "trend": 18.997274, "fair_value": 14.876106, "relative_strength": -0.183069, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "down", "direction": 2.35093, "energy": 24.415937, "activity_lines": [ 18.744235, 18.331387, 17.955447, 18.317092 ] }, { "date": "2024-12-27", "close": 18.948483, "volume": 7734, "typical_volume": 19875.3, "trend": 18.926334, "fair_value": 14.944699, "relative_strength": 2.299054, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "down", "direction": 8.131336, "energy": 27.041675, "activity_lines": [ 18.820182, 18.52536, 18.053592, 18.313944 ] }, { "date": "2025-01-03", "close": 19.359564, "volume": 28103, "typical_volume": 19086.1, "trend": 18.890361, "fair_value": 15.012868, "relative_strength": 3.718984, "stage": 4, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 34.40165, "energy": 43.363766, "activity_lines": [ 19.003681, 18.750371, 18.189765, 18.341894 ] }, { "date": "2025-01-10", "close": 19.010532, "volume": 20590, "typical_volume": 19194.95, "trend": 18.823192, "fair_value": 15.076959, "relative_strength": 1.112741, "stage": 4, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 21.247085, "energy": 26.231194, "activity_lines": [ 19.011373, 18.865525, 18.288489, 18.349647 ] }, { "date": "2025-01-17", "close": 19.132692, "volume": 25373, "typical_volume": 18410.5, "trend": 18.738541, "fair_value": 15.143896, "relative_strength": -0.941337, "stage": 4, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 33.346518, "energy": 32.286434, "activity_lines": [ 19.069092, 18.958336, 18.3928, 18.369615 ] }, { "date": "2025-01-24", "close": 18.806932, "volume": 26755, "typical_volume": 18578.6, "trend": 18.656105, "fair_value": 15.209415, "relative_strength": -1.290606, "stage": 4, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 28.30141, "energy": 27.478721, "activity_lines": [ 19.017642, 18.95853, 18.462329, 18.374027 ] }, { "date": "2025-01-31", "close": 18.825352, "volume": 6114, "typical_volume": 17239.35, "trend": 18.561917, "fair_value": 15.27769, "relative_strength": -3.376045, "stage": 4, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 15.766921, "energy": 16.878568, "activity_lines": [ 18.942213, 18.947478, 18.530058, 18.384947 ] }, { "date": "2025-02-07", "close": 18.653746, "volume": 13070, "typical_volume": 16666.95, "trend": 18.468721, "fair_value": 15.340232, "relative_strength": -4.452425, "stage": 4, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 11.607244, "energy": 11.933112, "activity_lines": [ 18.81779, 18.899424, 18.577544, 18.390871 ] }, { "date": "2025-02-14", "close": 17.971195, "volume": 6333, "typical_volume": 16232.95, "trend": 18.344166, "fair_value": 15.399343, "relative_strength": -9.980572, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "up", "direction": 15.469137, "energy": 16.438817, "activity_lines": [ 18.512905, 18.723886, 18.558541, 18.358773 ] }, { "date": "2025-02-21", "close": 17.567873, "volume": 12800, "typical_volume": 15748.2, "trend": 18.22319, "fair_value": 15.457812, "relative_strength": -10.98758, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -27.413991, "energy": 27.436061, "activity_lines": [ 18.142868, 18.496452, 18.501955, 18.308689 ] }, { "date": "2025-02-28", "close": 17.927567, "volume": 8312, "typical_volume": 15747.25, "trend": 18.152108, "fair_value": 15.516808, "relative_strength": -7.583772, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -18.335143, "energy": 27.224264, "activity_lines": [ 17.99705, 18.36271, 18.477213, 18.289617 ] }, { "date": "2025-03-07", "close": 18.853468, "volume": 50247, "typical_volume": 17615.75, "trend": 18.156794, "fair_value": 15.582551, "relative_strength": -1.794799, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 16.9812, "energy": 21.039172, "activity_lines": [ 18.218491, 18.405087, 18.53459, 18.334866 ] }, { "date": "2025-03-14", "close": 19.175354, "volume": 12296, "typical_volume": 17416.4, "trend": 18.180112, "fair_value": 15.648534, "relative_strength": 0.313867, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 41.949858, "energy": 18.04754, "activity_lines": [ 18.545352, 18.507717, 18.611628, 18.400579 ] }, { "date": "2025-03-21", "close": 15.135323, "volume": 129018, "typical_volume": 23010.15, "trend": 18.09327, "fair_value": 15.686652, "relative_strength": -21.384294, "stage": 3, "regime": "rotation_down", "modifier": "Structural failure", "gate": "mixed", "direction": -45.058022, "energy": 44.023977, "activity_lines": [ 17.490763, 17.879144, 18.292628, 18.204141 ] }, { "date": "2025-03-28", "close": 16.133938, "volume": 89041, "typical_volume": 26221.95, "trend": 18.019608, "fair_value": 15.729091, "relative_strength": -15.36845, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -46.18686, "energy": 54.049271, "activity_lines": [ 16.958103, 17.502597, 18.075518, 18.077733 ] }, { "date": "2025-04-04", "close": 15.540586, "volume": 70354, "typical_volume": 29109.95, "trend": 17.935611, "fair_value": 15.762769, "relative_strength": -11.808483, "stage": 4, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -76.723972, "energy": 80.221311, "activity_lines": [ 16.323255, 17.07269, 17.807434, 17.917796 ] }, { "date": "2025-04-11", "close": 15.006375, "volume": 30455, "typical_volume": 30265.55, "trend": 17.835606, "fair_value": 15.790738, "relative_strength": -12.321453, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -75.928251, "energy": 85.676873, "activity_lines": [ 15.669469, 16.605041, 17.500204, 17.728813 ] }, { "date": "2025-04-18", "close": 14.923965, "volume": 20251, "typical_volume": 30589.65, "trend": 17.721676, "fair_value": 15.81882, "relative_strength": -15.769681, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -72.421838, "energy": 85.892026, "activity_lines": [ 15.244685, 16.191845, 17.201792, 17.540965 ] }, { "date": "2025-04-25", "close": 14.950143, "volume": 19509, "typical_volume": 30741.1, "trend": 17.615171, "fair_value": 15.847395, "relative_strength": -17.224604, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -71.565304, "energy": 84.284676, "activity_lines": [ 15.112054, 15.851223, 16.922747, 17.362156 ] }, { "date": "2025-05-02", "close": 14.527429, "volume": 9203, "typical_volume": 30456.9, "trend": 17.530711, "fair_value": 15.873442, "relative_strength": -21.2845, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -74.718856, "energy": 82.899166, "activity_lines": [ 14.850863, 15.488672, 16.623445, 17.162947 ] }, { "date": "2025-05-09", "close": 14.981168, "volume": 11593, "typical_volume": 29857.55, "trend": 17.474932, "fair_value": 15.904896, "relative_strength": -19.116303, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -65.548333, "energy": 65.08855, "activity_lines": [ 14.848019, 15.2639, 16.389243, 16.998461 ] }, { "date": "2025-05-16", "close": 15.525045, "volume": 42919, "typical_volume": 31616.8, "trend": 17.440944, "fair_value": 15.944483, "relative_strength": -17.932678, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -61.984009, "energy": 51.851428, "activity_lines": [ 15.063762, 15.191586, 16.222906, 16.872661 ] }, { "date": "2025-05-23", "close": 14.793186, "volume": 10329, "typical_volume": 30728.1, "trend": 17.373791, "fair_value": 15.979472, "relative_strength": -20.086022, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -65.693595, "energy": 51.237261, "activity_lines": [ 15.000974, 15.046723, 16.00317, 16.701838 ] }, { "date": "2025-05-30", "close": 14.287948, "volume": 64344, "typical_volume": 32915.8, "trend": 17.298052, "fair_value": 16.00959, "relative_strength": -22.700812, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -71.067171, "energy": 52.412545, "activity_lines": [ 14.778492, 14.889674, 15.757061, 16.502752 ] }, { "date": "2025-06-06", "close": 15.104177, "volume": 119457, "typical_volume": 37620.0, "trend": 17.22498, "fair_value": 16.048019, "relative_strength": -18.439185, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -57.58572, "energy": 43.662978, "activity_lines": [ 14.872233, 14.896437, 15.611177, 16.361211 ] }, { "date": "2025-06-13", "close": 14.550867, "volume": 8109, "typical_volume": 36687.7, "trend": 17.109871, "fair_value": 16.083556, "relative_strength": -20.256592, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -62.096798, "energy": 46.325209, "activity_lines": [ 14.743087, 14.821322, 15.431779, 16.188688 ] }, { "date": "2025-06-20", "close": 14.416464, "volume": 25074, "typical_volume": 37635.7, "trend": 16.97354, "fair_value": 16.118471, "relative_strength": -19.173193, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -67.293263, "energy": 63.444496, "activity_lines": [ 14.597827, 14.739764, 15.259849, 16.01492 ] }, { "date": "2025-06-27", "close": 14.380165, "volume": 14651, "typical_volume": 37714.75, "trend": 16.837293, "fair_value": 16.153347, "relative_strength": -19.813151, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -67.395649, "energy": 64.31754, "activity_lines": [ 14.514372, 14.662333, 15.105456, 15.847605 ] }, { "date": "2025-07-04", "close": 15.727141, "volume": 16683, "typical_volume": 38232.25, "trend": 16.723192, "fair_value": 16.197465, "relative_strength": -10.654748, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -47.556535, "energy": 37.55032, "activity_lines": [ 14.907445, 14.839693, 15.099697, 15.775983 ] }, { "date": "2025-07-11", "close": 15.796795, "volume": 31204, "typical_volume": 39152.45, "trend": 16.612287, "fair_value": 16.243564, "relative_strength": -11.03927, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -34.242805, "energy": 21.681341, "activity_lines": [ 15.227789, 15.015591, 15.111257, 15.716215 ] }, { "date": "2025-07-18", "close": 15.809548, "volume": 14278, "typical_volume": 39450.75, "trend": 16.527434, "fair_value": 16.288662, "relative_strength": -9.43078, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -11.917554, "energy": 19.176405, "activity_lines": [ 15.506209, 15.170727, 15.132466, 15.664425 ] }, { "date": "2025-07-25", "close": 16.057755, "volume": 12765, "typical_volume": 37576.65, "trend": 16.431076, "fair_value": 16.333724, "relative_strength": -6.822177, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": 3.784484, "energy": 24.634125, "activity_lines": [ 15.783453, 15.355931, 15.1874, 15.634123 ] }, { "date": "2025-08-01", "close": 16.390329, "volume": 10783, "typical_volume": 37501.0, "trend": 16.332102, "fair_value": 16.37733, "relative_strength": -2.264297, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": 12.621169, "energy": 30.635584, "activity_lines": [ 16.062136, 15.591918, 15.28732, 15.631495 ] }, { "date": "2025-08-08", "close": 16.439381, "volume": 3871, "typical_volume": 31243.65, "trend": 16.246397, "fair_value": 16.418547, "relative_strength": -2.414176, "stage": 4, "regime": "rotation_up", "modifier": "Structural repair", "gate": "down", "direction": 14.609824, "energy": 41.498161, "activity_lines": [ 16.223158, 15.807783, 15.405173, 15.638416 ] }, { "date": "2025-08-15", "close": 16.175478, "volume": 8419, "typical_volume": 27212.55, "trend": 16.147823, "fair_value": 16.453362, "relative_strength": -4.225159, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 25.436106, "energy": 49.047454, "activity_lines": [ 16.248731, 15.93655, 15.491683, 15.63384 ] }, { "date": "2025-08-22", "close": 16.811195, "volume": 13087, "typical_volume": 24349.2, "trend": 16.081299, "fair_value": 16.48977, "relative_strength": -2.220176, "stage": 4, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 38.768537, "energy": 55.51174, "activity_lines": [ 16.460963, 16.161423, 15.63854, 15.676639 ] }, { "date": "2025-08-29", "close": 16.674831, "volume": 6762, "typical_volume": 23164.55, "trend": 16.009615, "fair_value": 16.523519, "relative_strength": -1.111763, "stage": 4, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 39.8423, "energy": 48.801558, "activity_lines": [ 16.560964, 16.320406, 15.76636, 15.714931 ] }, { "date": "2025-09-05", "close": 15.598624, "volume": 77605, "typical_volume": 26032.25, "trend": 15.907777, "fair_value": 16.542439, "relative_strength": -7.404795, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 24.7526, "energy": 25.205797, "activity_lines": [ 16.261091, 16.242654, 15.783738, 15.688416 ] }, { "date": "2025-09-12", "close": 15.355325, "volume": 7813, "typical_volume": 25447.45, "trend": 15.820581, "fair_value": 16.564792, "relative_strength": -9.58344, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": -0.90653, "energy": 8.026499, "activity_lines": [ 15.932899, 16.098511, 15.774733, 15.652773 ] }, { "date": "2025-09-19", "close": 16.802366, "volume": 20573, "typical_volume": 26015.95, "trend": 15.795065, "fair_value": 16.597545, "relative_strength": -3.066207, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": 26.786834, "energy": 16.146333, "activity_lines": [ 16.159324, 16.224228, 15.901611, 15.716114 ] }, { "date": "2025-09-26", "close": 16.627741, "volume": 5173, "typical_volume": 25694.95, "trend": 15.751737, "fair_value": 16.634117, "relative_strength": -4.73107, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 48.43142, "energy": 23.29857, "activity_lines": [ 16.285748, 16.299911, 16.001026, 15.769835 ] }, { "date": "2025-10-03", "close": 16.236303, "volume": 4690, "typical_volume": 23783.5, "trend": 15.664498, "fair_value": 16.658922, "relative_strength": -9.042922, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 48.020165, "energy": 28.105881, "activity_lines": [ 16.293923, 16.289547, 16.055319, 15.801098 ] }, { "date": "2025-10-10", "close": 16.053829, "volume": 5154, "typical_volume": 23524.75, "trend": 15.560447, "fair_value": 16.682399, "relative_strength": -7.9461, "stage": 4, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 48.168732, "energy": 32.914379, "activity_lines": [ 16.270509, 16.24276, 16.088848, 15.826216 ] }, { "date": "2025-10-17", "close": 14.899138, "volume": 23055, "typical_volume": 21460.3, "trend": 15.552575, "fair_value": 16.690861, "relative_strength": -15.705264, "stage": 4, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": -5.84037, "energy": 8.614694, "activity_lines": [ 15.831851, 15.992148, 16.006402, 15.783551 ] }, { "date": "2025-10-24", "close": 15.694767, "volume": 6236, "typical_volume": 15799.25, "trend": 15.537935, "fair_value": 16.708566, "relative_strength": -13.058774, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 12.899532, "energy": 16.927422, "activity_lines": [ 15.688815, 15.914199, 15.996821, 15.792724 ] }, { "date": "2025-10-31", "close": 16.145065, "volume": 2755, "typical_volume": 15531.55, "trend": 15.558085, "fair_value": 16.722176, "relative_strength": -9.673079, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 17.11128, "energy": 17.2816, "activity_lines": [ 15.769718, 15.926864, 16.027313, 15.831894 ] }, { "date": "2025-11-07", "close": 15.775212, "volume": 9286, "typical_volume": 14742.15, "trend": 15.583713, "fair_value": 16.732947, "relative_strength": -9.519664, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 11.569237, "energy": 15.211358, "activity_lines": [ 15.759515, 15.884393, 16.014989, 15.845902 ] }, { "date": "2025-11-14", "close": 15.122581, "volume": 25730, "typical_volume": 15296.1, "trend": 15.590333, "fair_value": 16.740183, "relative_strength": -12.912129, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -20.028779, "energy": 21.328503, "activity_lines": [ 15.562508, 15.739619, 15.934039, 15.816152 ] }, { "date": "2025-11-21", "close": 15.657946, "volume": 15001, "typical_volume": 15212.0, "trend": 15.613927, "fair_value": 16.741922, "relative_strength": -6.968238, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -7.168292, "energy": 8.810713, "activity_lines": [ 15.606039, 15.70084, 15.900542, 15.820514 ] }, { "date": "2025-11-28", "close": 15.595716, "volume": 3087, "typical_volume": 13806.15, "trend": 15.649536, "fair_value": 16.745269, "relative_strength": -8.549063, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -7.628086, "energy": 11.962496, "activity_lines": [ 15.57824, 15.645244, 15.861447, 15.819339 ] }, { "date": "2025-12-05", "close": 15.615472, "volume": 10643, "typical_volume": 13624.4, "trend": 15.67068, "fair_value": 16.747745, "relative_strength": -8.345218, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -8.270085, "energy": 13.188074, "activity_lines": [ 15.563629, 15.615179, 15.825192, 15.817141 ] }, { "date": "2025-12-12", "close": 15.991808, "volume": 7197, "typical_volume": 13346.0, "trend": 15.686238, "fair_value": 16.75112, "relative_strength": -4.900415, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 1.519289, "energy": 2.50026, "activity_lines": [ 15.70977, 15.671943, 15.825702, 15.837859 ] }, { "date": "2025-12-19", "close": 16.081694, "volume": 10377, "typical_volume": 13325.7, "trend": 15.729189, "fair_value": 16.749205, "relative_strength": -4.467481, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 26.988453, "energy": 14.124043, "activity_lines": [ 15.871433, 15.749496, 15.835086, 15.863373 ] }, { "date": "2025-12-26", "close": 16.054037, "volume": 3442, "typical_volume": 13304.25, "trend": 15.788058, "fair_value": 16.746263, "relative_strength": -3.84009, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 29.364522, "energy": 18.823375, "activity_lines": [ 15.959936, 15.821514, 15.843307, 15.884331 ] }, { "date": "2026-01-02", "close": 16.248625, "volume": 18044, "typical_volume": 13785.5, "trend": 15.826207, "fair_value": 16.747964, "relative_strength": -4.786137, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 46.004675, "energy": 29.338675, "activity_lines": [ 16.086896, 15.907913, 15.871894, 15.914045 ] }, { "date": "2026-01-09", "close": 17.524809, "volume": 30732, "typical_volume": 14667.75, "trend": 15.925338, "fair_value": 16.765507, "relative_strength": 0.951647, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 72.791659, "energy": 65.19371, "activity_lines": [ 16.595723, 16.216276, 16.021675, 16.023632 ] }, { "date": "2026-01-16", "close": 18.4533, "volume": 18628, "typical_volume": 15261.05, "trend": 16.059899, "fair_value": 16.778595, "relative_strength": 4.284771, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 93.049526, "energy": 88.109012, "activity_lines": [ 17.286759, 16.668368, 16.256485, 16.186726 ] }, { "date": "2026-01-23", "close": 18.561954, "volume": 32701, "typical_volume": 13015.85, "trend": 16.199292, "fair_value": 16.797859, "relative_strength": 6.226047, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 89.511802, "energy": 94.526105, "activity_lines": [ 17.849912, 17.091524, 16.493174, 16.348149 ] }, { "date": "2026-01-30", "close": 19.397598, "volume": 24730, "typical_volume": 13861.7, "trend": 16.321641, "fair_value": 16.825178, "relative_strength": 10.96738, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 91.681959, "energy": 96.608172, "activity_lines": [ 18.526263, 17.60408, 16.795337, 16.554491 ] }, { "date": "2026-02-06", "close": 18.937304, "volume": 29538, "typical_volume": 14309.95, "trend": 16.426324, "fair_value": 16.860926, "relative_strength": 9.159429, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 72.975334, "energy": 89.940793, "activity_lines": [ 18.826279, 17.964954, 17.034414, 16.723244 ] }, { "date": "2026-02-13", "close": 19.845053, "volume": 27333, "typical_volume": 15417.95, "trend": 16.560841, "fair_value": 16.887817, "relative_strength": 14.44382, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 86.450664, "energy": 94.606957, "activity_lines": [ 19.249632, 18.430116, 17.349776, 16.943807 ] }, { "date": "2026-02-20", "close": 19.638611, "volume": 30888, "typical_volume": 16727.85, "trend": 16.680203, "fair_value": 16.914569, "relative_strength": 10.531931, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 75.333227, "energy": 89.170077, "activity_lines": [ 19.449489, 18.780842, 17.630157, 17.142373 ] }, { "date": "2026-02-27", "close": 19.347223, "volume": 37518, "typical_volume": 18346.05, "trend": 16.778766, "fair_value": 16.936719, "relative_strength": 7.971767, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 67.493715, "energy": 66.487683, "activity_lines": [ 19.473195, 19.012283, 17.866586, 17.314439 ] }, { "date": "2026-03-06", "close": 18.890879, "volume": 48457, "typical_volume": 19616.15, "trend": 16.860483, "fair_value": 16.951874, "relative_strength": 10.617841, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 65.147029, "energy": 63.567663, "activity_lines": [ 19.292435, 19.101379, 18.04387, 17.450704 ] }, { "date": "2026-03-13", "close": 19.002497, "volume": 56858, "typical_volume": 22147.25, "trend": 16.954717, "fair_value": 16.972548, "relative_strength": 9.168499, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 60.852338, "energy": 52.770965, "activity_lines": [ 19.182663, 19.15919, 18.212776, 17.588898 ] }, { "date": "2026-03-20", "close": 18.700239, "volume": 43796, "typical_volume": 24199.3, "trend": 17.017685, "fair_value": 16.994399, "relative_strength": 11.547049, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 46.578394, "energy": 39.149895, "activity_lines": [ 18.967792, 19.111975, 18.337144, 17.701513 ] }, { "date": "2026-03-27", "close": 18.344648, "volume": 76038, "typical_volume": 27536.9, "trend": 17.073345, "fair_value": 17.018124, "relative_strength": 9.425508, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 39.730431, "energy": 26.390623, "activity_lines": [ 18.710711, 18.978735, 18.41548, 17.787123 ] }, { "date": "2026-04-03", "close": 18.741728, "volume": 17168, "typical_volume": 27108.8, "trend": 17.178116, "fair_value": 17.043163, "relative_strength": 9.913626, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 36.535999, "energy": 22.895818, "activity_lines": [ 18.672255, 18.919667, 18.519397, 17.894761 ] }, { "date": "2026-04-10", "close": 20.347822, "volume": 32430, "typical_volume": 27980.25, "trend": 17.344532, "fair_value": 17.076327, "relative_strength": 15.038746, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 73.273301, "energy": 43.224193, "activity_lines": [ 19.209529, 19.149348, 18.759041, 18.099258 ] }, { "date": "2026-04-17", "close": 20.669832, "volume": 16193, "typical_volume": 28635.55, "trend": 17.473448, "fair_value": 17.114112, "relative_strength": 14.987742, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 76.645271, "energy": 55.05267, "activity_lines": [ 19.757011, 19.420299, 19.00702, 18.313793 ] }, { "date": "2026-04-24", "close": 20.249046, "volume": 10806, "typical_volume": 28643.7, "trend": 17.594158, "fair_value": 17.155764, "relative_strength": 12.652225, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 66.125651, "energy": 69.593485, "activity_lines": [ 20.053075, 19.583243, 19.190762, 18.492864 ] }, { "date": "2026-05-01", "close": 20.115698, "volume": 3635, "typical_volume": 28465.6, "trend": 17.723471, "fair_value": 17.20024, "relative_strength": 12.181433, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 62.477882, "energy": 75.456109, "activity_lines": [ 20.201436, 19.714597, 19.339739, 18.655544 ] }, { "date": "2026-05-08", "close": 20.614517, "volume": 24054, "typical_volume": 29149.45, "trend": 17.875494, "fair_value": 17.237354, "relative_strength": 14.116318, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 69.129665, "energy": 76.623538, "activity_lines": [ 20.398, 19.927971, 19.516586, 18.842063 ] }, { "date": "2026-05-15", "close": 19.942841, "volume": 12456, "typical_volume": 29600.15, "trend": 18.043617, "fair_value": 17.282716, "relative_strength": 10.80228, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 60.611995, "energy": 49.553899, "activity_lines": [ 20.245819, 19.99618, 19.607878, 18.975441 ] }, { "date": "2026-05-22", "close": 19.024, "volume": 52740, "typical_volume": 31334.95, "trend": 18.154592, "fair_value": 17.317864, "relative_strength": 1.967891, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 40.901709, "energy": 28.655978, "activity_lines": [ 19.814357, 19.878201, 19.593144, 19.038691 ] }, { "date": "2026-05-29", "close": 18.274, "volume": 21394, "typical_volume": 30868.05, "trend": 18.225556, "fair_value": 17.342789, "relative_strength": -1.32561, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 11.868154, "energy": 12.742729, "activity_lines": [ 19.242617, 19.623467, 19.493765, 19.046395 ] }, { "date": "2026-06-05", "close": 18.493999, "volume": 3299, "typical_volume": 30101.6, "trend": 18.316183, "fair_value": 17.369131, "relative_strength": -0.891565, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 7.492838, "energy": 20.406157, "activity_lines": [ 18.87588, 19.416482, 19.41177, 19.063714 ] }, { "date": "2026-06-12", "close": 19.086, "volume": 2233, "typical_volume": 28578.2, "trend": 18.448297, "fair_value": 17.40359, "relative_strength": -1.709125, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 4.717679, "energy": 21.888779, "activity_lines": [ 18.814589, 19.314419, 19.385963, 19.113379 ] }, { "date": "2026-06-19", "close": 20.309999, "volume": 2255, "typical_volume": 27454.45, "trend": 18.603365, "fair_value": 17.448606, "relative_strength": 4.554864, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 29.440204, "energy": 19.146189, "activity_lines": [ 19.263199, 19.428641, 19.474232, 19.233489 ] }, { "date": "2026-06-26", "close": 19.48, "volume": 4878, "typical_volume": 26221.45, "trend": 18.732841, "fair_value": 17.489967, "relative_strength": 1.633066, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 26.614917, "energy": 12.282814, "activity_lines": [ 19.410666, 19.392643, 19.479109, 19.290046 ] }, { "date": "2026-07-03", "close": 19.49, "volume": 307, "typical_volume": 24870.15, "trend": 18.861992, "fair_value": 17.526285, "relative_strength": -0.494421, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 31.473782, "energy": 20.337146, "activity_lines": [ 19.531066, 19.380095, 19.482353, 19.338895 ] }, { "date": "2026-07-10", "close": 19.299999, "volume": 5506, "typical_volume": 23601.05, "trend": 18.972265, "fair_value": 17.560728, "relative_strength": -1.62872, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 30.066877, "energy": 20.788882, "activity_lines": [ 19.507066, 19.346803, 19.469193, 19.367154 ] }, { "date": "2026-07-17", "close": 19.042, "volume": 55343, "typical_volume": 24492.3, "trend": 19.070942, "fair_value": 17.593124, "relative_strength": -3.641948, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 18.591537, "energy": 8.328406, "activity_lines": [ 19.343333, 19.281433, 19.433074, 19.371653 ] }, { "date": "2026-07-24", "close": 19.402, "volume": 5390, "typical_volume": 22338.95, "trend": 19.182541, "fair_value": 17.620251, "relative_strength": -1.653022, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 15.250357, "energy": 7.815602, "activity_lines": [ 19.302533, 19.310109, 19.432695, 19.393011 ] }, { "date": "2026-07-31", "close": 18.42, "volume": 17122, "typical_volume": 20352.15, "trend": 19.25492, "fair_value": 17.638228, "relative_strength": -7.233116, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -32.982043, "energy": 28.038356, "activity_lines": [ 18.994933, 19.170072, 19.336357, 19.343815 ] }, { "date": "2026-08-07", "close": 18.688, "volume": 3509, "typical_volume": 18337.8, "trend": 19.293693, "fair_value": 17.6529, "relative_strength": -6.762378, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -28.577255, "energy": 35.080646, "activity_lines": [ 18.847333, 19.089745, 19.268317, 19.30724 ] } ], "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." } } }