{ "ticker": { "uuid": "80d90a4f-3098-4261-9df7-f55c5269c3de", "symbol": "INW", "name": "Infrastrutture Wireless Italiane S.p.A.", "exchange": "MIL", "country": "IT", "assetType": "equity" }, "methodBoundary": "Trend Architecture is a weekly structural classification, not a forecast, probability of return, recommendation or execution signal. Confidence measures geometric agreement and external confirmation only.", "analysis": { "eligible": true, "as_of": "2026-08-07", "benchmark": "FTSEMIB.MI", "stage": 4, "stage_name": "Declining", "phase": "4b", "phase_label": "Stage 4B \u00b7 Declining", "transition": "stage_4_declining", "transition_label": "Stage 4 decline intact", "confidence": 96.0, "architecture_regime": "downward_expansion", "architecture_regime_label": "Downward Expansion", "architecture_modifier": "Early contraction", "architecture_gate": "down", "architecture_direction": -50.248, "architecture_energy": 31.668, "architecture_maturity": 34.508, "architecture_confidence": 81.033, "architecture_tenure": "Developing", "architecture": { "interpretation": { "headline": "The weekly architecture is expanding downward.", "body": "Trend and Activity show sustained negative alignment with weak price acceptance. Repair requires persistent improvement across the structure, not merely one strong observation." }, "scores": { "balance": 35.48, "rotation_up": 22.11, "upward_expansion": 3.68, "deceleration": 58.13, "rotation_down": 41.64, "downward_expansion": 72.35 }, "activity_lines": [ 6.396667, 6.408364, 6.495693, 6.620906 ], "activity_state": "Compressed", "activity_direction": "Contracting", "rotation_direction": "Improving", "price_acceptance": -0.333333 }, "latest_close": 6.44, "trend_reference": 6.810787, "distance_from_trend": -0.054441, "trend_direction": "Weakening", "fair_value": 8.3131, "distance_from_fair_value": -0.225319, "fair_value_direction": "Weakening", "relative_strength": -26.167653, "relative_strength_direction": "Improving", "price_momentum": -0.121649, "excess_performance": -0.292541, "evidence": [ { "label": "Price vs Trend", "positive": false, "value": -0.054441, "read": "Below" }, { "label": "Trend direction", "positive": false, "value": -0.038658, "read": "Falling" }, { "label": "Price vs current Fair Value", "positive": false, "value": -0.225319, "read": "Below anchor" }, { "label": "Fair Value direction", "positive": false, "value": -0.001059, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.261677, "read": "Lagging" }, { "label": "Relative strength direction", "positive": true, "value": 0.022519, "read": "Improving" }, { "label": "Price momentum", "positive": false, "value": -0.121649, "read": "Negative" }, { "label": "Volume balance", "positive": false, "value": 0.661742, "read": "Supply-led" } ], "volume": { "latest": 7640370, "relative_activity": 0.7296, "balance": 0.661742, "dry_up": 1.181987, "accumulation_observations": 1, "distribution_observations": 3 }, "risk": { "range_context": 0.05158, "annualized_volatility": 0.413999, "from_high_reference": -0.320688, "from_low_reference": 0.15279 }, "levels": { "trend_reference": 6.810787, "fair_value_reference": 8.3131, "structural_low": 5.586448, "invalidation": "Reclaiming a flat-to-rising Trend with improving relative strength is required before the declining diagnosis is repaired." }, "outcomes": [ { "horizon": "Near term", "sample_count": 25, "median_return": 0.016892, "positive_rate": 0.72, "directional_follow_through": 0.28, "median_excess_return": -0.0009, "regime_survival": 0.72, "best_return": 0.157524, "worst_return": -0.051757, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 9, "median_return": 0.083111, "positive_rate": 1.0, "directional_follow_through": 0.0, "median_excess_return": -0.006106, "regime_survival": 0.222222, "best_return": 0.172071, "worst_return": 0.00548, "sufficient": true }, { "horizon": "Extended", "sample_count": 6, "median_return": 0.12403, "positive_rate": 0.666667, "directional_follow_through": 0.333333, "median_excess_return": 0.034288, "regime_survival": 0.333333, "best_return": 0.457457, "worst_return": -0.083581, "sufficient": true }, { "horizon": "Full cycle", "sample_count": 3, "median_return": 0.059354, "positive_rate": 0.666667, "directional_follow_through": 0.333333, "median_excess_return": -0.155648, "regime_survival": 0.333333, "best_return": 0.234845, "worst_return": -0.142217, "sufficient": false } ], "ledger": [ { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2024-08-30", "end": "2024-10-25", "tenure": "Developing", "return": -0.026802, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2024-11-01", "end": "2024-11-15", "tenure": "New", "return": -0.079961, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2024-11-22", "end": "2024-12-20", "tenure": "Developing", "return": -0.004675, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2024-12-27", "end": "2025-04-11", "tenure": "Established", "return": -0.035897, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-04-18", "end": "2025-05-02", "tenure": "New", "return": 0.057654, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2025-05-09", "end": "2025-05-16", "tenure": "New", "return": 0.007512, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-05-23", "end": "2025-09-05", "tenure": "Established", "return": 0.008867, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2025-09-12", "end": "2025-10-10", "tenure": "Developing", "return": -0.029586, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2025-10-17", "end": "2025-11-07", "tenure": "New", "return": -0.034747, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-11-14", "end": "2026-02-06", "tenure": "Established", "return": 0.038391, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2026-02-13", "end": "2026-03-13", "tenure": "Developing", "return": -0.104848, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2026-03-20", "end": "2026-05-29", "tenure": "Developing", "return": 0.136713, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-06-05", "end": "2026-06-19", "tenure": "New", "return": -0.052827, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2026-06-26", "end": "2026-08-07", "tenure": "Developing", "return": 0.027933, "active": true } ], "chart_path": [ { "date": "2023-08-18", "close": 9.050814, "volume": 2783535, "typical_volume": 5478237.9, "trend": 9.265985, "fair_value": 7.721891, "relative_strength": -1.032477, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -29.276422, "energy": 40.881297, "activity_lines": [ 9.21197, 9.380896, 9.499086, 9.466673 ] }, { "date": "2023-08-25", "close": 9.058953, "volume": 3925816, "typical_volume": 5422348.7, "trend": 9.303787, "fair_value": 7.740768, "relative_strength": -2.385589, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -37.926415, "energy": 52.404269, "activity_lines": [ 9.134105, 9.303056, 9.447976, 9.453316 ] }, { "date": "2023-09-01", "close": 9.299061, "volume": 4669195, "typical_volume": 5415430.4, "trend": 9.348011, "fair_value": 7.761421, "relative_strength": -1.269777, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -30.670011, "energy": 43.473463, "activity_lines": [ 9.168562, 9.28034, 9.423536, 9.453011 ] }, { "date": "2023-09-08", "close": 9.445565, "volume": 3390841, "typical_volume": 5335320.85, "trend": 9.387764, "fair_value": 7.77945, "relative_strength": 1.784171, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -25.517489, "energy": 21.95887, "activity_lines": [ 9.262434, 9.288923, 9.415182, 9.459305 ] }, { "date": "2023-09-15", "close": 9.583931, "volume": 5218452, "typical_volume": 5308151.65, "trend": 9.431208, "fair_value": 7.796039, "relative_strength": 0.974303, "stage": 2, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": 0.78449, "energy": 4.704312, "activity_lines": [ 9.384521, 9.329693, 9.421705, 9.471961 ] }, { "date": "2023-09-22", "close": 9.372313, "volume": 5121860, "typical_volume": 5272048.75, "trend": 9.47234, "fair_value": 7.811461, "relative_strength": -0.092495, "stage": 2, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -28.853624, "energy": 19.235673, "activity_lines": [ 9.412737, 9.330359, 9.409848, 9.468161 ] }, { "date": "2023-09-29", "close": 9.168833, "volume": 5756675, "typical_volume": 5147056.85, "trend": 9.481262, "fair_value": 7.825222, "relative_strength": -1.000371, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -39.764562, "energy": 20.819327, "activity_lines": [ 9.351693, 9.302464, 9.381337, 9.44858 ] }, { "date": "2023-10-06", "close": 8.5706, "volume": 9152448, "typical_volume": 5351854.25, "trend": 9.467475, "fair_value": 7.836051, "relative_strength": -5.937237, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -74.382367, "energy": 52.715767, "activity_lines": [ 9.083913, 9.172606, 9.297645, 9.389828 ] }, { "date": "2023-10-13", "close": 8.639783, "volume": 5378214, "typical_volume": 5331536.6, "trend": 9.463373, "fair_value": 7.847822, "relative_strength": -6.523008, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -73.043939, "energy": 72.999185, "activity_lines": [ 8.887758, 9.071458, 9.225109, 9.336428 ] }, { "date": "2023-10-20", "close": 8.436302, "volume": 5533734, "typical_volume": 5260416.05, "trend": 9.435624, "fair_value": 7.858551, "relative_strength": -5.81435, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -77.734676, "energy": 83.36544, "activity_lines": [ 8.677495, 8.94308, 9.137535, 9.270165 ] }, { "date": "2023-10-27", "close": 8.293866, "volume": 6006314, "typical_volume": 5285938.55, "trend": 9.392719, "fair_value": 7.86763, "relative_strength": -7.116537, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -79.954146, "energy": 88.710231, "activity_lines": [ 8.496261, 8.803307, 9.042016, 9.196504 ] }, { "date": "2023-11-03", "close": 8.798498, "volume": 5742162, "typical_volume": 5222822.55, "trend": 9.357412, "fair_value": 7.875335, "relative_strength": -6.208998, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -65.155339, "energy": 76.642606, "activity_lines": [ 8.555135, 8.769049, 9.000254, 9.158167 ] }, { "date": "2023-11-10", "close": 8.66827, "volume": 5840707, "typical_volume": 5252009.5, "trend": 9.321453, "fair_value": 7.882633, "relative_strength": -6.962991, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -62.278785, "energy": 60.211473, "activity_lines": [ 8.595288, 8.715848, 8.950333, 9.113706 ] }, { "date": "2023-11-17", "close": 8.708967, "volume": 5306299, "typical_volume": 5275424.85, "trend": 9.285006, "fair_value": 7.888577, "relative_strength": -9.625156, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -57.757015, "energy": 43.639791, "activity_lines": [ 8.642496, 8.681515, 8.908513, 9.074191 ] }, { "date": "2023-11-24", "close": 8.733384, "volume": 4009323, "typical_volume": 5212741.15, "trend": 9.244235, "fair_value": 7.893538, "relative_strength": -9.108767, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -42.681638, "energy": 29.145383, "activity_lines": [ 8.693231, 8.665015, 8.874367, 9.038602 ] }, { "date": "2023-12-01", "close": 9.225806, "volume": 9798895, "typical_volume": 5447269.3, "trend": 9.220273, "fair_value": 7.902129, "relative_strength": -5.574096, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -21.377621, "energy": 15.370187, "activity_lines": [ 8.8883, 8.75351, 8.890742, 9.037413 ] }, { "date": "2023-12-08", "close": 9.39673, "volume": 3521259, "typical_volume": 5354262.5, "trend": 9.215315, "fair_value": 7.91519, "relative_strength": -5.332473, "stage": 3, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -3.381598, "energy": 15.288148, "activity_lines": [ 9.078215, 8.875746, 8.926303, 9.048798 ] }, { "date": "2023-12-15", "close": 9.164762, "volume": 5765241, "typical_volume": 5346734.8, "trend": 9.203153, "fair_value": 7.926193, "relative_strength": -7.529066, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -4.331197, "energy": 19.163572, "activity_lines": [ 9.150926, 8.951663, 8.940469, 9.045536 ] }, { "date": "2023-12-22", "close": 9.360105, "volume": 4661447, "typical_volume": 5306547.5, "trend": 9.196777, "fair_value": 7.938948, "relative_strength": -5.476272, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 25.381056, "energy": 31.681942, "activity_lines": [ 9.255651, 9.052293, 8.974634, 9.055662 ] }, { "date": "2023-12-29", "close": 9.319407, "volume": 1257181, "typical_volume": 5141979.9, "trend": 9.186874, "fair_value": 7.951513, "relative_strength": -5.84605, "stage": 3, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 23.102878, "energy": 34.464341, "activity_lines": [ 9.3034, 9.132428, 9.004052, 9.063574 ] }, { "date": "2024-01-05", "close": 9.299061, "volume": 2529643, "typical_volume": 5129285.3, "trend": 9.180499, "fair_value": 7.966014, "relative_strength": -6.332577, "stage": 3, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 21.931067, "energy": 39.569989, "activity_lines": [ 9.3053, 9.192806, 9.031124, 9.070812 ] }, { "date": "2024-01-12", "close": 9.270573, "volume": 3495258, "typical_volume": 5107757.4, "trend": 9.166526, "fair_value": 7.981425, "relative_strength": -6.722095, "stage": 3, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 19.572195, "energy": 31.520495, "activity_lines": [ 9.29282, 9.229729, 9.054302, 9.076623 ] }, { "date": "2024-01-19", "close": 8.98163, "volume": 4088062, "typical_volume": 5078700.75, "trend": 9.147399, "fair_value": 7.994628, "relative_strength": -9.005595, "stage": 4, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": -2.39111, "energy": 8.604293, "activity_lines": [ 9.192436, 9.205533, 9.048953, 9.064694 ] }, { "date": "2024-01-26", "close": 9.246154, "volume": 4561770, "typical_volume": 5137247.2, "trend": 9.127865, "fair_value": 8.011783, "relative_strength": -6.643838, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 2.412565, "energy": 5.931531, "activity_lines": [ 9.192436, 9.223735, 9.070309, 9.071065 ] }, { "date": "2024-02-02", "close": 9.050814, "volume": 4855780, "typical_volume": 5119113.6, "trend": 9.113079, "fair_value": 8.026783, "relative_strength": -9.618421, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 2.576091, "energy": 7.599249, "activity_lines": [ 9.134919, 9.196654, 9.07401, 9.066094 ] }, { "date": "2024-02-09", "close": 8.753734, "volume": 6108315, "typical_volume": 5168436.35, "trend": 9.076995, "fair_value": 8.038809, "relative_strength": -13.703521, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -23.153108, "energy": 21.03173, "activity_lines": [ 8.996281, 9.109786, 9.051957, 9.042911 ] }, { "date": "2024-02-16", "close": 8.66827, "volume": 3352105, "typical_volume": 5048207.85, "trend": 9.047829, "fair_value": 8.052996, "relative_strength": -15.972041, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -55.10731, "energy": 37.967148, "activity_lines": [ 8.865511, 9.015963, 9.02471, 9.016541 ] }, { "date": "2024-02-23", "close": 8.692688, "volume": 3327493, "typical_volume": 4756960.1, "trend": 9.022326, "fair_value": 8.067791, "relative_strength": -18.058979, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -54.083797, "energy": 51.218057, "activity_lines": [ 8.783034, 8.939825, 9.002172, 8.993629 ] }, { "date": "2024-03-01", "close": 8.525835, "volume": 5543603, "typical_volume": 4765229.55, "trend": 9.000622, "fair_value": 8.083488, "relative_strength": -19.910679, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -62.842308, "energy": 67.918335, "activity_lines": [ 8.664201, 8.841932, 8.963162, 8.961597 ] }, { "date": "2024-03-08", "close": 8.46886, "volume": 7867216, "typical_volume": 4881903.65, "trend": 8.975119, "fair_value": 8.096301, "relative_strength": -21.21, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -73.162558, "energy": 74.597116, "activity_lines": [ 8.574399, 8.748849, 8.919269, 8.92729 ] }, { "date": "2024-03-15", "close": 8.521765, "volume": 9784388, "typical_volume": 5070807.35, "trend": 8.957484, "fair_value": 8.10791, "relative_strength": -21.535515, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -66.147736, "energy": 70.413044, "activity_lines": [ 8.541028, 8.68085, 8.880259, 8.898042 ] }, { "date": "2024-03-22", "close": 8.578739, "volume": 5255358, "typical_volume": 5046467.15, "trend": 8.941477, "fair_value": 8.118672, "relative_strength": -21.429244, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -62.494763, "energy": 63.605517, "activity_lines": [ 8.542113, 8.637342, 8.845589, 8.873606 ] }, { "date": "2024-03-29", "close": 8.5706, "volume": 4418336, "typical_volume": 4975348.6, "trend": 8.917195, "fair_value": 8.128794, "relative_strength": -21.916803, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -58.99263, "energy": 43.071747, "activity_lines": [ 8.546454, 8.604933, 8.811191, 8.849679 ] }, { "date": "2024-04-05", "close": 8.122943, "volume": 5864495, "typical_volume": 5003258.4, "trend": 8.873107, "fair_value": 8.13595, "relative_strength": -23.814864, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -78.575189, "energy": 52.961768, "activity_lines": [ 8.409715, 8.498605, 8.734625, 8.798437 ] }, { "date": "2024-04-12", "close": 8.086316, "volume": 6410260, "typical_volume": 5123305.25, "trend": 8.823187, "fair_value": 8.14291, "relative_strength": -23.08355, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -76.809487, "energy": 68.142134, "activity_lines": [ 8.287626, 8.40604, 8.65736, 8.747676 ] }, { "date": "2024-04-19", "close": 8.094456, "volume": 4304311, "typical_volume": 4848576.05, "trend": 8.780592, "fair_value": 8.149, "relative_strength": -22.818123, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -71.843616, "energy": 77.142433, "activity_lines": [ 8.193754, 8.332491, 8.583952, 8.700661 ] }, { "date": "2024-04-26", "close": 8.127011, "volume": 4554470, "typical_volume": 4900236.6, "trend": 8.745864, "fair_value": 8.155014, "relative_strength": -22.622069, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -65.695786, "energy": 78.877302, "activity_lines": [ 8.139221, 8.276848, 8.519032, 8.658495 ] }, { "date": "2024-05-03", "close": 8.302006, "volume": 4792134, "typical_volume": 4851581.25, "trend": 8.736911, "fair_value": 8.162967, "relative_strength": -18.902526, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -62.578289, "energy": 66.100716, "activity_lines": [ 8.173134, 8.262863, 8.476824, 8.629859 ] }, { "date": "2024-05-10", "close": 8.440372, "volume": 4538253, "typical_volume": 4845421.55, "trend": 8.730264, "fair_value": 8.172415, "relative_strength": -19.459692, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -58.637644, "energy": 43.148419, "activity_lines": [ 8.271076, 8.281139, 8.451903, 8.610727 ] }, { "date": "2024-05-17", "close": 8.529903, "volume": 6610663, "typical_volume": 5113095.65, "trend": 8.733384, "fair_value": 8.182665, "relative_strength": -19.77414, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -41.127387, "energy": 25.168217, "activity_lines": [ 8.3777, 8.317248, 8.439888, 8.597801 ] }, { "date": "2024-05-24", "close": 8.521374, "volume": 7497908, "typical_volume": 5361508.9, "trend": 8.740968, "fair_value": 8.192183, "relative_strength": -17.1584, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -33.111401, "energy": 24.573459, "activity_lines": [ 8.451908, 8.350696, 8.43082, 8.584122 ] }, { "date": "2024-05-31", "close": 8.572553, "volume": 7698382, "typical_volume": 5571665.1, "trend": 8.733436, "fair_value": 8.201803, "relative_strength": -16.085735, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -26.795985, "energy": 24.759138, "activity_lines": [ 8.514715, 8.393456, 8.43033, 8.573257 ] }, { "date": "2024-06-07", "close": 8.401955, "volume": 6299143, "typical_volume": 5682219.15, "trend": 8.724559, "fair_value": 8.208651, "relative_strength": -17.581792, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -27.756269, "energy": 21.374483, "activity_lines": [ 8.490952, 8.405311, 8.416916, 8.551871 ] }, { "date": "2024-06-14", "close": 8.342245, "volume": 8800039, "typical_volume": 5894132.6, "trend": 8.712335, "fair_value": 8.213988, "relative_strength": -12.641928, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -27.744508, "energy": 15.051224, "activity_lines": [ 8.440624, 8.409375, 8.400575, 8.527206 ] }, { "date": "2024-06-21", "close": 8.265476, "volume": 10603949, "typical_volume": 6181541.05, "trend": 8.696738, "fair_value": 8.219185, "relative_strength": -14.540095, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -46.337945, "energy": 25.221314, "activity_lines": [ 8.371247, 8.395495, 8.381228, 8.498376 ] }, { "date": "2024-06-28", "close": 8.316656, "volume": 6879409, "typical_volume": 6220095.75, "trend": 8.666433, "fair_value": 8.22584, "relative_strength": -13.047851, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -42.46226, "energy": 28.549158, "activity_lines": [ 8.336559, 8.387662, 8.370495, 8.473855 ] }, { "date": "2024-07-05", "close": 8.393425, "volume": 5300311, "typical_volume": 6317506.05, "trend": 8.63299, "fair_value": 8.232025, "relative_strength": -13.853915, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -40.071335, "energy": 27.180891, "activity_lines": [ 8.341108, 8.389748, 8.369154, 8.456241 ] }, { "date": "2024-07-12", "close": 8.751681, "volume": 6863025, "typical_volume": 6494282.65, "trend": 8.61922, "fair_value": 8.239475, "relative_strength": -11.180451, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": 0.145649, "energy": 2.895551, "activity_lines": [ 8.477018, 8.452127, 8.403242, 8.463899 ] }, { "date": "2024-07-19", "close": 8.717562, "volume": 4824738, "typical_volume": 6458339.4, "trend": 8.597802, "fair_value": 8.246103, "relative_strength": -10.122212, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": 2.23681, "energy": 16.805572, "activity_lines": [ 8.57824, 8.500126, 8.4338, 8.470243 ] }, { "date": "2024-07-26", "close": 8.819921, "volume": 4291129, "typical_volume": 6279535.05, "trend": 8.581153, "fair_value": 8.255827, "relative_strength": -7.60587, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 28.60404, "energy": 43.850116, "activity_lines": [ 8.68856, 8.561697, 8.473193, 8.484574 ] }, { "date": "2024-08-02", "close": 8.84551, "volume": 7180511, "typical_volume": 6149341.2, "trend": 8.566034, "fair_value": 8.264959, "relative_strength": -1.849585, "stage": 4, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 38.922696, "energy": 57.863148, "activity_lines": [ 8.770447, 8.622647, 8.513351, 8.501629 ] }, { "date": "2024-08-09", "close": 8.751681, "volume": 7042451, "typical_volume": 6238695.85, "trend": 8.548738, "fair_value": 8.272213, "relative_strength": -1.823057, "stage": 4, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 32.367378, "energy": 54.832627, "activity_lines": [ 8.785801, 8.660644, 8.543031, 8.513606 ] }, { "date": "2024-08-16", "close": 8.947868, "volume": 3830186, "typical_volume": 6209288.35, "trend": 8.547612, "fair_value": 8.28017, "relative_strength": -3.080193, "stage": 4, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 43.552474, "energy": 58.445233, "activity_lines": [ 8.842667, 8.731054, 8.590573, 8.539356 ] }, { "date": "2024-08-23", "close": 9.186707, "volume": 5225701, "typical_volume": 6177348.65, "trend": 8.545631, "fair_value": 8.289536, "relative_strength": -1.969262, "stage": 2, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "up", "direction": 80.598611, "energy": 75.81954, "activity_lines": [ 8.966066, 8.834964, 8.659064, 8.580588 ] }, { "date": "2024-08-30", "close": 9.229355, "volume": 4465396, "typical_volume": 6080105.45, "trend": 8.551582, "fair_value": 8.299656, "relative_strength": -3.210974, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 78.36512, "energy": 79.972178, "activity_lines": [ 9.072405, 8.931274, 8.726552, 8.6247 ] }, { "date": "2024-09-06", "close": 9.365833, "volume": 5145323, "typical_volume": 6122156.05, "trend": 8.571986, "fair_value": 8.311809, "relative_strength": 1.788131, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 80.696952, "energy": 86.837293, "activity_lines": [ 9.196942, 9.034874, 8.801595, 8.677232 ] }, { "date": "2024-09-13", "close": 9.476723, "volume": 4766868, "typical_volume": 6132775.95, "trend": 8.598934, "fair_value": 8.32428, "relative_strength": 2.495455, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 81.043557, "energy": 91.376091, "activity_lines": [ 9.323753, 9.139559, 8.881144, 8.735602 ] }, { "date": "2024-09-20", "close": 9.220826, "volume": 7391638, "typical_volume": 6262751.15, "trend": 8.616539, "fair_value": 8.335445, "relative_strength": -0.463957, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 66.547937, "energy": 80.960708, "activity_lines": [ 9.316929, 9.178021, 8.929895, 8.775724 ] }, { "date": "2024-09-27", "close": 9.493783, "volume": 4988749, "typical_volume": 6285275.95, "trend": 8.648804, "fair_value": 8.349154, "relative_strength": -0.006046, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 75.926697, "energy": 78.848252, "activity_lines": [ 9.382894, 9.257582, 9.000267, 8.832321 ] }, { "date": "2024-10-04", "close": 9.297595, "volume": 5765712, "typical_volume": 6243028.4, "trend": 8.676428, "fair_value": 8.362293, "relative_strength": 1.454467, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 63.224325, "energy": 55.955651, "activity_lines": [ 9.362991, 9.287359, 9.046938, 8.874178 ] }, { "date": "2024-10-11", "close": 9.152586, "volume": 5051671, "typical_volume": 6120716.55, "trend": 8.697455, "fair_value": 8.372706, "relative_strength": -1.935373, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 58.858545, "energy": 46.860107, "activity_lines": [ 9.290202, 9.282086, 9.076142, 8.904898 ] }, { "date": "2024-10-18", "close": 9.348774, "volume": 4670001, "typical_volume": 5969297.5, "trend": 8.723123, "fair_value": 8.385663, "relative_strength": -2.086372, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 52.93559, "energy": 43.021634, "activity_lines": [ 9.297026, 9.3069, 9.121026, 8.946919 ] }, { "date": "2024-10-25", "close": 8.981988, "volume": 5237847, "typical_volume": 5916232.7, "trend": 8.736836, "fair_value": 8.396337, "relative_strength": -4.460732, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 39.726732, "energy": 24.479733, "activity_lines": [ 9.190118, 9.25417, 9.127281, 8.963619 ] }, { "date": "2024-11-01", "close": 8.854039, "volume": 4076323, "typical_volume": 5680046.9, "trend": 8.761206, "fair_value": 8.405278, "relative_strength": -5.20282, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 20.168263, "energy": 19.696135, "activity_lines": [ 9.056482, 9.177556, 9.118589, 8.971181 ] }, { "date": "2024-11-08", "close": 8.320921, "volume": 8886251, "typical_volume": 5594162.0, "trend": 8.769026, "fair_value": 8.409594, "relative_strength": -8.267547, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -20.859669, "energy": 30.010391, "activity_lines": [ 8.787791, 9.010059, 9.056686, 8.942775 ] }, { "date": "2024-11-15", "close": 8.146058, "volume": 5694242, "typical_volume": 5534903.65, "trend": 8.770746, "fair_value": 8.412264, "relative_strength": -10.8158, "stage": 3, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -46.133378, "energy": 50.833631, "activity_lines": [ 8.525923, 8.827287, 8.977866, 8.902584 ] }, { "date": "2024-11-22", "close": 8.210032, "volume": 5244679, "typical_volume": 5532122.05, "trend": 8.773514, "fair_value": 8.414338, "relative_strength": -7.90276, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -38.144199, "energy": 70.032389, "activity_lines": [ 8.352481, 8.678324, 8.90595, 8.866409 ] }, { "date": "2024-11-29", "close": 8.316656, "volume": 7581233, "typical_volume": 5568032.45, "trend": 8.774002, "fair_value": 8.41793, "relative_strength": -6.080382, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -29.464046, "energy": 68.074682, "activity_lines": [ 8.290498, 8.571777, 8.845063, 8.836934 ] }, { "date": "2024-12-06", "close": 8.465929, "volume": 5709343, "typical_volume": 5612262.7, "trend": 8.774854, "fair_value": 8.422258, "relative_strength": -7.628899, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -37.387933, "energy": 65.879038, "activity_lines": [ 8.322627, 8.508811, 8.800464, 8.817058 ] }, { "date": "2024-12-13", "close": 8.470195, "volume": 5669695, "typical_volume": 5681191.0, "trend": 8.772864, "fair_value": 8.425288, "relative_strength": -7.553153, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -32.895773, "energy": 38.290699, "activity_lines": [ 8.382052, 8.465309, 8.757469, 8.797403 ] }, { "date": "2024-12-20", "close": 8.171648, "volume": 6615681, "typical_volume": 5652949.5, "trend": 8.761206, "fair_value": 8.426086, "relative_strength": -7.395293, "stage": 4, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -69.552288, "energy": 48.408314, "activity_lines": [ 8.33201, 8.382569, 8.687707, 8.758615 ] }, { "date": "2024-12-27", "close": 8.316656, "volume": 2594660, "typical_volume": 5430559.95, "trend": 8.752676, "fair_value": 8.426978, "relative_strength": -6.403809, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -58.521834, "energy": 42.425757, "activity_lines": [ 8.328598, 8.344029, 8.634964, 8.729934 ] }, { "date": "2025-01-03", "close": 8.453135, "volume": 2984289, "typical_volume": 5388265.1, "trend": 8.754382, "fair_value": 8.431837, "relative_strength": -4.367287, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -46.002179, "energy": 35.752825, "activity_lines": [ 8.363571, 8.34907, 8.59729, 8.710609 ] }, { "date": "2025-01-10", "close": 8.218562, "volume": 5292024, "typical_volume": 5391581.25, "trend": 8.750259, "fair_value": 8.437569, "relative_strength": -9.097456, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -63.87247, "energy": 43.986571, "activity_lines": [ 8.311254, 8.321076, 8.539632, 8.67604 ] }, { "date": "2025-01-17", "close": 8.581083, "volume": 5412170, "typical_volume": 5438919.95, "trend": 8.76078, "fair_value": 8.44529, "relative_strength": -7.757596, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -42.394249, "energy": 26.939403, "activity_lines": [ 8.396269, 8.37055, 8.52111, 8.665125 ] }, { "date": "2025-01-24", "close": 8.453135, "volume": 3938066, "typical_volume": 5378557.1, "trend": 8.765329, "fair_value": 8.45387, "relative_strength": -8.478618, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -39.549203, "energy": 22.364683, "activity_lines": [ 8.431241, 8.39203, 8.493489, 8.645277 ] }, { "date": "2025-01-31", "close": 8.555492, "volume": 5076872, "typical_volume": 5394057.3, "trend": 8.770731, "fair_value": 8.46345, "relative_strength": -7.640535, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -35.118862, "energy": 17.949971, "activity_lines": [ 8.481567, 8.426537, 8.479963, 8.63174 ] }, { "date": "2025-02-07", "close": 8.299596, "volume": 6446387, "typical_volume": 5346794.75, "trend": 8.755662, "fair_value": 8.473853, "relative_strength": -11.432884, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -43.975246, "energy": 22.216317, "activity_lines": [ 8.430672, 8.408236, 8.446453, 8.601344 ] }, { "date": "2025-02-14", "close": 8.210032, "volume": 6948302, "typical_volume": 5444772.4, "trend": 8.738744, "fair_value": 8.483495, "relative_strength": -14.143502, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -61.573562, "energy": 33.952598, "activity_lines": [ 8.360158, 8.373961, 8.408799, 8.566142 ] }, { "date": "2025-02-21", "close": 8.060759, "volume": 6013396, "typical_volume": 5457156.6, "trend": 8.713439, "fair_value": 8.491484, "relative_strength": -16.318411, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -67.84474, "energy": 51.239145, "activity_lines": [ 8.240455, 8.317199, 8.363042, 8.522401 ] }, { "date": "2025-02-28", "close": 8.256948, "volume": 6422559, "typical_volume": 5525701.0, "trend": 8.69382, "fair_value": 8.500386, "relative_strength": -14.503725, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -55.093498, "energy": 51.896472, "activity_lines": [ 8.220837, 8.303551, 8.34186, 8.49295 ] }, { "date": "2025-03-07", "close": 7.902956, "volume": 12355783, "typical_volume": 5909990.1, "trend": 8.665529, "fair_value": 8.505351, "relative_strength": -17.728941, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -70.837702, "energy": 62.161829, "activity_lines": [ 8.096301, 8.22399, 8.291229, 8.441926 ] }, { "date": "2025-03-14", "close": 8.167382, "volume": 7137607, "typical_volume": 6004978.1, "trend": 8.639513, "fair_value": 8.508987, "relative_strength": -14.8508, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -56.756492, "energy": 49.850035, "activity_lines": [ 8.103409, 8.200029, 8.272666, 8.409788 ] }, { "date": "2025-03-21", "close": 8.124733, "volume": 7354514, "typical_volume": 6168887.65, "trend": 8.604114, "fair_value": 8.512851, "relative_strength": -15.850523, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -53.697743, "energy": 37.218463, "activity_lines": [ 8.105114, 8.173509, 8.253921, 8.376576 ] }, { "date": "2025-03-28", "close": 8.38063, "volume": 6652691, "typical_volume": 6057209.65, "trend": 8.575823, "fair_value": 8.516387, "relative_strength": -12.328136, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -35.997276, "energy": 23.72518, "activity_lines": [ 8.197806, 8.195221, 8.263019, 8.362158 ] }, { "date": "2025-04-04", "close": 8.248417, "volume": 8496897, "typical_volume": 6197342.4, "trend": 8.538576, "fair_value": 8.517872, "relative_strength": -3.519808, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -31.546634, "energy": 15.133063, "activity_lines": [ 8.225102, 8.196539, 8.259242, 8.341035 ] }, { "date": "2025-04-11", "close": 8.018109, "volume": 13605779, "typical_volume": 6615397.4, "trend": 8.489955, "fair_value": 8.517857, "relative_strength": -4.47335, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -42.342122, "energy": 20.223574, "activity_lines": [ 8.176197, 8.159706, 8.233043, 8.307457 ] }, { "date": "2025-04-18", "close": 8.581083, "volume": 4556757, "typical_volume": 6464173.6, "trend": 8.46863, "fair_value": 8.522825, "relative_strength": -3.31165, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -9.796682, "energy": 9.026105, "activity_lines": [ 8.307273, 8.235002, 8.261374, 8.313336 ] }, { "date": "2025-04-25", "close": 8.717562, "volume": 5806871, "typical_volume": 6469050.0, "trend": 8.442756, "fair_value": 8.528742, "relative_strength": -5.343166, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 24.283665, "energy": 19.32134, "activity_lines": [ 8.456262, 8.329994, 8.301444, 8.329396 ] }, { "date": "2025-05-02", "close": 9.075817, "volume": 5936798, "typical_volume": 6482405.15, "trend": 8.435364, "fair_value": 8.538319, "relative_strength": -3.897367, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 47.245641, "energy": 50.825086, "activity_lines": [ 8.685148, 8.480895, 8.374436, 8.370238 ] }, { "date": "2025-05-09", "close": 9.084347, "volume": 8227857, "typical_volume": 6563013.95, "trend": 8.433089, "fair_value": 8.546758, "relative_strength": -6.25934, "stage": 3, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 45.329245, "energy": 64.336619, "activity_lines": [ 8.870531, 8.614892, 8.445356, 8.412108 ] }, { "date": "2025-05-16", "close": 9.152586, "volume": 10302028, "typical_volume": 6948382.35, "trend": 8.42655, "fair_value": 8.555046, "relative_strength": -8.42926, "stage": 3, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "up", "direction": 70.699894, "energy": 77.469798, "activity_lines": [ 9.022932, 8.746253, 8.518429, 8.458527 ] }, { "date": "2025-05-23", "close": 9.094881, "volume": 10997320, "typical_volume": 7349033.9, "trend": 8.430313, "fair_value": 8.560468, "relative_strength": -6.161958, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 66.802831, "energy": 75.697669, "activity_lines": [ 9.080466, 8.844401, 8.582025, 8.501646 ] }, { "date": "2025-05-30", "close": 9.256169, "volume": 10861939, "typical_volume": 7627529.65, "trend": 8.443717, "fair_value": 8.567153, "relative_strength": -5.82577, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 71.325992, "energy": 75.040943, "activity_lines": [ 9.157509, 8.95501, 8.657926, 8.554927 ] }, { "date": "2025-06-06", "close": 9.211367, "volume": 6510925, "typical_volume": 7682467.4, "trend": 8.473399, "fair_value": 8.575941, "relative_strength": -7.357404, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 67.722946, "energy": 71.210701, "activity_lines": [ 9.183712, 9.036903, 8.72462, 8.604453 ] }, { "date": "2025-06-13", "close": 9.08592, "volume": 6766029, "typical_volume": 7823865.55, "trend": 8.504727, "fair_value": 8.586855, "relative_strength": -5.739264, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 62.829458, "energy": 51.43617, "activity_lines": [ 9.159062, 9.080882, 8.776365, 8.64397 ] }, { "date": "2025-06-20", "close": 9.148644, "volume": 9914897, "typical_volume": 8065766.8, "trend": 8.536014, "fair_value": 8.594958, "relative_strength": -4.472987, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 60.432708, "energy": 46.825744, "activity_lines": [ 9.155215, 9.121038, 8.83107, 8.685513 ] }, { "date": "2025-06-27", "close": 9.283051, "volume": 4430514, "typical_volume": 7964973.15, "trend": 8.568227, "fair_value": 8.604206, "relative_strength": -4.185555, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 65.731876, "energy": 47.651661, "activity_lines": [ 9.196433, 9.165077, 8.895751, 8.733709 ] }, { "date": "2025-07-04", "close": 9.318892, "volume": 6995703, "typical_volume": 7967343.2, "trend": 8.59666, "fair_value": 8.61337, "relative_strength": -3.434755, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 65.467131, "energy": 47.587158, "activity_lines": [ 9.237054, 9.202869, 8.959163, 8.782139 ] }, { "date": "2025-07-11", "close": 9.202408, "volume": 5760243, "typical_volume": 7954685.55, "trend": 8.621067, "fair_value": 8.621509, "relative_strength": -5.551778, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 58.806466, "energy": 46.5976, "activity_lines": [ 9.234665, 9.208549, 9.006201, 8.821219 ] }, { "date": "2025-07-18", "close": 9.318892, "volume": 4303042, "typical_volume": 7848709.7, "trend": 8.659308, "fair_value": 8.630835, "relative_strength": -4.733508, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 63.948777, "energy": 59.66477, "activity_lines": [ 9.271701, 9.233107, 9.058895, 8.86624 ] }, { "date": "2025-07-25", "close": 9.309933, "volume": 4085722, "typical_volume": 7435206.65, "trend": 8.692417, "fair_value": 8.638624, "relative_strength": -5.551179, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 61.710669, "energy": 51.693815, "activity_lines": [ 9.290219, 9.251771, 9.10568, 8.908216 ] }, { "date": "2025-08-01", "close": 9.390576, "volume": 6484845, "typical_volume": 7402568.55, "trend": 8.723665, "fair_value": 8.649666, "relative_strength": -2.546852, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 67.175897, "energy": 53.435887, "activity_lines": [ 9.324866, 9.282236, 9.153446, 8.953259 ] }, { "date": "2025-08-08", "close": 9.26513, "volume": 6077588, "typical_volume": 7338722.25, "trend": 8.758551, "fair_value": 8.65883, "relative_strength": -7.341996, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 58.697065, "energy": 44.801889, "activity_lines": [ 9.31053, 9.284517, 9.183439, 8.988192 ] }, { "date": "2025-08-15", "close": 9.274091, "volume": 3703183, "typical_volume": 7191246.85, "trend": 8.781651, "fair_value": 8.667402, "relative_strength": -9.103578, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 56.254911, "energy": 41.980098, "activity_lines": [ 9.302764, 9.288264, 9.208855, 9.021453 ] }, { "date": "2025-08-22", "close": 9.44434, "volume": 5376498, "typical_volume": 7035226.9, "trend": 8.814691, "fair_value": 8.679813, "relative_strength": -8.432519, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 68.323993, "energy": 47.760067, "activity_lines": [ 9.346969, 9.321826, 9.246231, 9.064207 ] }, { "date": "2025-08-29", "close": 9.283051, "volume": 5037310, "typical_volume": 6606803.45, "trend": 8.838943, "fair_value": 8.691899, "relative_strength": -7.256859, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 54.230595, "energy": 37.793565, "activity_lines": [ 9.329048, 9.319545, 9.262551, 9.094423 ] }, { "date": "2025-09-05", "close": 9.175526, "volume": 5252850, "typical_volume": 6641608.1, "trend": 8.868141, "fair_value": 8.702921, "relative_strength": -6.575076, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 39.438045, "energy": 26.576095, "activity_lines": [ 9.277078, 9.29527, 9.262607, 9.116138 ] }, { "date": "2025-09-12", "close": 9.08592, "volume": 5892338, "typical_volume": 6645881.45, "trend": 8.897337, "fair_value": 8.712588, "relative_strength": -9.059367, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 26.03447, "energy": 14.983617, "activity_lines": [ 9.209575, 9.256658, 9.251299, 9.130189 ] }, { "date": "2025-09-19", "close": 9.050079, "volume": 8723925, "typical_volume": 6785237.8, "trend": 8.930315, "fair_value": 8.724913, "relative_strength": -8.430014, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 2.646843, "energy": 12.753117, "activity_lines": [ 9.142073, 9.215766, 9.234823, 9.140043 ] }, { "date": "2025-09-26", "close": 8.857429, "volume": 7208117, "typical_volume": 6734250.8, "trend": 8.950331, "fair_value": 8.736237, "relative_strength": -10.597686, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -14.895185, "energy": 27.343055, "activity_lines": [ 9.025288, 9.142616, 9.200121, 9.135341 ] }, { "date": "2025-10-03", "close": 8.987354, "volume": 7594016, "typical_volume": 6598850.2, "trend": 8.986477, "fair_value": 8.750492, "relative_strength": -10.055931, "stage": 3, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "up", "direction": -3.711098, "energy": 29.384291, "activity_lines": [ 8.990939, 9.101479, 9.178875, 9.137729 ] }, { "date": "2025-10-10", "close": 8.817106, "volume": 5420201, "typical_volume": 6319994.25, "trend": 9.008135, "fair_value": 8.763868, "relative_strength": -8.786992, "stage": 3, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -36.126228, "energy": 54.139789, "activity_lines": [ 8.919554, 9.035253, 9.142201, 9.126802 ] }, { "date": "2025-10-17", "close": 8.767823, "volume": 6631432, "typical_volume": 6108468.9, "trend": 9.029571, "fair_value": 8.778083, "relative_strength": -8.240193, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -46.983984, "energy": 64.126853, "activity_lines": [ 8.855636, 8.970493, 9.102156, 9.111298 ] }, { "date": "2025-10-24", "close": 8.870869, "volume": 4593660, "typical_volume": 6012605.65, "trend": 9.045912, "fair_value": 8.789716, "relative_strength": -8.373594, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -35.354288, "energy": 53.848399, "activity_lines": [ 8.847273, 8.933511, 9.07425, 9.101059 ] }, { "date": "2025-10-31", "close": 8.534851, "volume": 8080937, "typical_volume": 6078351.05, "trend": 9.05546, "fair_value": 8.797939, "relative_strength": -12.824895, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -56.452439, "energy": 69.437647, "activity_lines": [ 8.738851, 8.842766, 9.015965, 9.068088 ] }, { "date": "2025-11-07", "close": 8.463167, "volume": 6027968, "typical_volume": 5884004.6, "trend": 9.070295, "fair_value": 8.802225, "relative_strength": -12.677587, "stage": 3, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -81.552444, "energy": 83.311952, "activity_lines": [ 8.62804, 8.755523, 8.953476, 9.029875 ] }, { "date": "2025-11-14", "close": 7.060853, "volume": 31000594, "typical_volume": 7212508.6, "trend": 9.019621, "fair_value": 8.799276, "relative_strength": -28.456317, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -97.070295, "energy": 97.084407, "activity_lines": [ 8.084736, 8.428221, 8.760698, 8.900234 ] }, { "date": "2025-11-21", "close": 7.074294, "volume": 16697766, "typical_volume": 7697611.75, "trend": 8.964846, "fair_value": 8.795835, "relative_strength": -25.574556, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -95.097093, "energy": 97.958075, "activity_lines": [ 7.662997, 8.141812, 8.579782, 8.774729 ] }, { "date": "2025-11-28", "close": 7.262843, "volume": 13525733, "typical_volume": 8085886.25, "trend": 8.904413, "fair_value": 8.793704, "relative_strength": -24.283909, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -79.163503, "energy": 92.554018, "activity_lines": [ 7.417009, 7.926259, 8.427511, 8.664922 ] }, { "date": "2025-12-05", "close": 7.161522, "volume": 13157406, "typical_volume": 8528604.45, "trend": 8.840319, "fair_value": 8.791572, "relative_strength": -24.957234, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -75.847704, "energy": 91.462762, "activity_lines": [ 7.244449, 7.72478, 8.274827, 8.552478 ] }, { "date": "2025-12-12", "close": 6.977303, "volume": 13156805, "typical_volume": 8982158.6, "trend": 8.767809, "fair_value": 8.789111, "relative_strength": -26.49338, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -78.3426, "energy": 92.073353, "activity_lines": [ 7.102038, 7.520641, 8.114871, 8.432283 ] }, { "date": "2025-12-19", "close": 7.1431, "volume": 17834839, "typical_volume": 9549658.3, "trend": 8.70275, "fair_value": 8.787246, "relative_strength": -26.302826, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -68.253401, "energy": 76.368218, "activity_lines": [ 7.113951, 7.383193, 7.981813, 8.327463 ] }, { "date": "2025-12-26", "close": 7.133889, "volume": 3417434, "typical_volume": 9416650.6, "trend": 8.632007, "fair_value": 8.785272, "relative_strength": -25.596819, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -66.59392, "energy": 66.857439, "activity_lines": [ 7.117309, 7.274507, 7.858581, 8.226246 ] }, { "date": "2026-01-02", "close": 7.230604, "volume": 5270713, "typical_volume": 9495027.1, "trend": 8.565982, "fair_value": 8.782499, "relative_strength": -25.272315, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -64.561088, "energy": 64.75308, "activity_lines": [ 7.148934, 7.213113, 7.754708, 8.135833 ] }, { "date": "2026-01-09", "close": 7.133889, "volume": 13524821, "typical_volume": 9902443.25, "trend": 8.500914, "fair_value": 8.778264, "relative_strength": -26.308698, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -64.625678, "energy": 62.433855, "activity_lines": [ 7.150469, 7.163958, 7.651354, 8.04344 ] }, { "date": "2026-01-16", "close": 6.811505, "volume": 14442137, "typical_volume": 10372684.6, "trend": 8.42301, "fair_value": 8.770899, "relative_strength": -29.198197, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -78.762614, "energy": 67.540098, "activity_lines": [ 7.046385, 7.08166, 7.5283, 7.934446 ] }, { "date": "2026-01-23", "close": 6.793084, "volume": 12995842, "typical_volume": 10759834.2, "trend": 8.340011, "fair_value": 8.763644, "relative_strength": -27.319566, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -73.895081, "energy": 66.002161, "activity_lines": [ 6.947214, 7.026042, 7.415261, 7.829289 ] }, { "date": "2026-01-30", "close": 6.852955, "volume": 11495038, "typical_volume": 11039969.2, "trend": 8.257813, "fair_value": 8.756468, "relative_strength": -27.234118, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -67.960735, "energy": 64.776795, "activity_lines": [ 6.891334, 6.986179, 7.319269, 7.73335 ] }, { "date": "2026-02-06", "close": 7.331925, "volume": 21581928, "typical_volume": 11682869.35, "trend": 8.195463, "fair_value": 8.750564, "relative_strength": -22.278712, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -62.683497, "energy": 55.764542, "activity_lines": [ 7.01384, 7.037425, 7.279526, 7.673615 ] }, { "date": "2026-02-13", "close": 8.170122, "volume": 33916402, "typical_volume": 13018283.6, "trend": 8.157171, "fair_value": 8.749856, "relative_strength": -12.245005, "stage": 4, "regime": "rotation_up", "modifier": "Structural repair", "gate": "down", "direction": -13.150239, "energy": 18.528706, "activity_lines": [ 7.40899, 7.239815, 7.327793, 7.671981 ] }, { "date": "2026-02-20", "close": 8.091829, "volume": 16266654, "typical_volume": 13451915.5, "trend": 8.116568, "fair_value": 8.749558, "relative_strength": -14.749246, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "down", "direction": 14.158737, "energy": 32.353471, "activity_lines": [ 7.70896, 7.409632, 7.371876, 7.667765 ] }, { "date": "2026-02-27", "close": 8.285259, "volume": 61422182, "typical_volume": 16252014.55, "trend": 8.079724, "fair_value": 8.745609, "relative_strength": -13.764629, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "down", "direction": 23.439432, "energy": 46.241791, "activity_lines": [ 7.988052, 7.594353, 7.438646, 7.678648 ] }, { "date": "2026-03-06", "close": 7.80629, "volume": 19076213, "typical_volume": 16874253.6, "trend": 8.031096, "fair_value": 8.738059, "relative_strength": -12.892188, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "down", "direction": 6.330411, "energy": 38.535602, "activity_lines": [ 8.008009, 7.671223, 7.462332, 7.661007 ] }, { "date": "2026-03-13", "close": 7.313503, "volume": 16837950, "typical_volume": 17486468.1, "trend": 7.965743, "fair_value": 8.728768, "relative_strength": -18.336939, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "down", "direction": -8.283859, "energy": 25.643397, "activity_lines": [ 7.800149, 7.64627, 7.443665, 7.614711 ] }, { "date": "2026-03-20", "close": 5.876593, "volume": 47485593, "typical_volume": 19456700.9, "trend": 7.846818, "fair_value": 8.707023, "relative_strength": -31.65932, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -65.311246, "energy": 41.240132, "activity_lines": [ 7.114546, 7.358553, 7.295566, 7.479927 ] }, { "date": "2026-03-27", "close": 6.263453, "volume": 34981837, "typical_volume": 20904394.35, "trend": 7.746165, "fair_value": 8.685757, "relative_strength": -27.564475, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -73.747924, "energy": 57.22652, "activity_lines": [ 6.710799, 7.164034, 7.196968, 7.377775 ] }, { "date": "2026-04-03", "close": 6.622681, "volume": 9216156, "typical_volume": 19815172.45, "trend": 7.66107, "fair_value": 8.66502, "relative_strength": -26.521839, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -59.493505, "energy": 54.133991, "activity_lines": [ 6.548686, 7.044794, 7.143058, 7.305292 ] }, { "date": "2026-04-10", "close": 6.908221, "volume": 12147630, "typical_volume": 19587665.65, "trend": 7.58848, "fair_value": 8.646822, "relative_strength": -25.894781, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -59.807614, "energy": 58.16858, "activity_lines": [ 6.592592, 6.980569, 7.118428, 7.256721 ] }, { "date": "2026-04-17", "close": 6.802295, "volume": 10872777, "typical_volume": 19455017.85, "trend": 7.513554, "fair_value": 8.627591, "relative_strength": -28.212312, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -56.153438, "energy": 49.458764, "activity_lines": [ 6.66106, 6.896079, 7.084501, 7.205999 ] }, { "date": "2026-04-24", "close": 6.682552, "volume": 9746394, "typical_volume": 19284467.25, "trend": 7.441058, "fair_value": 8.606604, "relative_strength": -27.006301, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -54.260175, "energy": 33.766869, "activity_lines": [ 6.723695, 6.799448, 7.041363, 7.152386 ] }, { "date": "2026-05-01", "close": 6.654919, "volume": 8306185, "typical_volume": 19041936.25, "trend": 7.36331, "fair_value": 8.585516, "relative_strength": -27.479419, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -53.758958, "energy": 30.090595, "activity_lines": [ 6.723387, 6.724839, 6.997874, 7.101668 ] }, { "date": "2026-05-08", "close": 6.645709, "volume": 12103790, "typical_volume": 18755383.8, "trend": 7.29093, "fair_value": 8.566928, "relative_strength": -28.419549, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -43.917096, "energy": 27.964548, "activity_lines": [ 6.693913, 6.674681, 6.955043, 7.055371 ] }, { "date": "2026-05-15", "close": 6.4707, "volume": 14751591, "typical_volume": 19322091.65, "trend": 7.214359, "fair_value": 8.547319, "relative_strength": -29.384428, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -60.608183, "energy": 36.73733, "activity_lines": [ 6.604566, 6.622514, 6.897913, 7.002453 ] }, { "date": "2026-05-22", "close": 6.835, "volume": 9656735, "typical_volume": 19541392.75, "trend": 7.146497, "fair_value": 8.529906, "relative_strength": -25.292736, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -43.05604, "energy": 26.729089, "activity_lines": [ 6.665821, 6.660866, 6.878637, 6.977978 ] }, { "date": "2026-05-29", "close": 6.68, "volume": 8023347, "typical_volume": 19266319.05, "trend": 7.084669, "fair_value": 8.511083, "relative_strength": -27.014621, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -50.369116, "energy": 27.170222, "activity_lines": [ 6.673229, 6.679736, 6.846482, 6.947881 ] }, { "date": "2026-06-05", "close": 6.72, "volume": 2021782, "typical_volume": 18645301.3, "trend": 7.026563, "fair_value": 8.493324, "relative_strength": -25.645061, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -38.327999, "energy": 20.675853, "activity_lines": [ 6.694141, 6.691272, 6.820298, 6.924354 ] }, { "date": "2026-06-12", "close": 6.58, "volume": 2717012, "typical_volume": 18131359.8, "trend": 7.010535, "fair_value": 8.47339, "relative_strength": -28.685012, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -50.746939, "energy": 23.622643, "activity_lines": [ 6.664047, 6.669053, 6.781217, 6.895544 ] }, { "date": "2026-06-19", "close": 6.365, "volume": 9203389, "typical_volume": 18016777.35, "trend": 6.986891, "fair_value": 8.452938, "relative_strength": -31.956467, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -64.917354, "energy": 47.037214, "activity_lines": [ 6.566667, 6.608518, 6.722674, 6.853896 ] }, { "date": "2026-06-26", "close": 6.265, "volume": 2557910, "typical_volume": 17065576.45, "trend": 6.95363, "fair_value": 8.430072, "relative_strength": -30.110388, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -68.820101, "energy": 64.512988, "activity_lines": [ 6.443, 6.539678, 6.656931, 6.807323 ] }, { "date": "2026-07-03", "close": 6.545, "volume": 2052529, "typical_volume": 15472382.8, "trend": 6.933079, "fair_value": 8.411165, "relative_strength": -28.256934, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -57.106821, "energy": 61.838649, "activity_lines": [ 6.450667, 6.531517, 6.622935, 6.78096 ] }, { "date": "2026-07-10", "close": 6.435, "volume": 11569766, "typical_volume": 15237538.4, "trend": 6.915003, "fair_value": 8.389362, "relative_strength": -28.331594, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -57.284727, "energy": 62.25605, "activity_lines": [ 6.430667, 6.505857, 6.586202, 6.748825 ] }, { "date": "2026-07-17", "close": 6.31, "volume": 18615333, "typical_volume": 13097195.95, "trend": 6.887233, "fair_value": 8.368637, "relative_strength": -27.841461, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -63.567544, "energy": 55.218007, "activity_lines": [ 6.388, 6.461467, 6.545453, 6.709793 ] }, { "date": "2026-07-24", "close": 6.365, "volume": 13579196, "typical_volume": 12822345.1, "trend": 6.861603, "fair_value": 8.348811, "relative_strength": -26.209957, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -55.935723, "energy": 36.897327, "activity_lines": [ 6.381667, 6.433182, 6.519349, 6.676101 ] }, { "date": "2026-07-31", "close": 6.4, "volume": 9676147, "typical_volume": 12464254.95, "trend": 6.833916, "fair_value": 8.33101, "relative_strength": -25.362669, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -52.934222, "energy": 35.030889, "activity_lines": [ 6.387, 6.413182, 6.503441, 6.64632 ] }, { "date": "2026-08-07", "close": 6.44, "volume": 7640370, "typical_volume": 10471993.8, "trend": 6.810787, "fair_value": 8.3131, "relative_strength": -26.167653, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -50.247557, "energy": 31.668413, "activity_lines": [ 6.396667, 6.408364, 6.495693, 6.620906 ] } ], "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." } } }