{ "ticker": { "uuid": "83642976-db6b-45b7-91d0-adf7d1df9945", "symbol": "BC", "name": "Brunello Cucinelli 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": 1, "stage_name": "Basing", "phase": "1c", "phase_label": "Stage 1C \u00b7 Breakout watch", "transition": "stage_1_to_2_watch", "transition_label": "Stage 1 \u2192 2 watch", "confidence": 74.66, "architecture_regime": "balance", "architecture_regime_label": "Balance", "architecture_modifier": "Balance after decline", "architecture_gate": "up", "architecture_direction": 68.261, "architecture_energy": 60.995, "architecture_maturity": 36.338, "architecture_confidence": 74.234, "architecture_tenure": "Established", "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": 38.3, "rotation_up": 60.17, "upward_expansion": 81.52, "deceleration": 51.15, "rotation_down": 14.46, "downward_expansion": 15.19 }, "activity_lines": [ 86.244001, 84.624364, 83.668753, 82.410283 ], "activity_state": "Moderate", "activity_direction": "Expanding", "rotation_direction": "Improving", "price_acceptance": 0.166667 }, "latest_close": 90.0, "trend_reference": 81.50512, "distance_from_trend": 0.104225, "trend_direction": "Weakening", "fair_value": 90.759153, "distance_from_fair_value": -0.008364, "fair_value_direction": "Improving", "relative_strength": -10.964314, "relative_strength_direction": "Improving", "price_momentum": 0.100541, "excess_performance": -0.070351, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.104225, "read": "Above" }, { "label": "Trend direction", "positive": false, "value": -0.036016, "read": "Falling" }, { "label": "Price vs current Fair Value", "positive": false, "value": -0.008364, "read": "Below anchor" }, { "label": "Fair Value direction", "positive": true, "value": 0.060506, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.109643, "read": "Lagging" }, { "label": "Relative strength direction", "positive": true, "value": 0.083696, "read": "Improving" }, { "label": "Price momentum", "positive": true, "value": 0.100541, "read": "Positive" }, { "label": "Volume balance", "positive": true, "value": 2.353151, "read": "Demand-led" } ], "volume": { "latest": 2273788, "relative_activity": 1.937554, "balance": 2.353151, "dry_up": 1.412386, "accumulation_observations": 4, "distribution_observations": 1 }, "risk": { "range_context": 0.054891, "annualized_volatility": 0.315576, "from_high_reference": -0.146759, "from_low_reference": 0.320905 }, "levels": { "trend_reference": 81.50512, "fair_value_reference": 90.759153, "structural_low": 68.135125, "invalidation": "A renewed decline below the structural range low, widening the discount to current Fair Value while Trend falls, weakens the base diagnosis." }, "outcomes": [ { "horizon": "Near term", "sample_count": 16, "median_return": 0.001927, "positive_rate": 0.5, "directional_follow_through": 0.5, "median_excess_return": -0.026806, "regime_survival": 0.5, "best_return": 0.182283, "worst_return": -0.125237, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 7, "median_return": 0.071062, "positive_rate": 0.571429, "directional_follow_through": 0.571429, "median_excess_return": 0.052952, "regime_survival": 0.285714, "best_return": 0.283982, "worst_return": -0.276962, "sufficient": true }, { "horizon": "Extended", "sample_count": 5, "median_return": 0.016402, "positive_rate": 0.6, "directional_follow_through": 0.6, "median_excess_return": -0.015002, "regime_survival": 0.2, "best_return": 0.214422, "worst_return": -0.15012, "sufficient": true }, { "horizon": "Full cycle", "sample_count": 3, "median_return": 0.176418, "positive_rate": 1.0, "directional_follow_through": 1.0, "median_excess_return": -0.009977, "regime_survival": 0.0, "best_return": 0.536887, "worst_return": 0.035309, "sufficient": false } ], "ledger": [ { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2024-10-18", "end": "2024-11-08", "tenure": "New", "return": -0.045977, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2024-11-15", "end": "2024-12-13", "tenure": "Developing", "return": 0.182283, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2024-12-20", "end": "2025-03-14", "tenure": "Established", "return": 0.053333, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2025-03-21", "end": "2025-04-11", "tenure": "New", "return": -0.124837, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2025-04-18", "end": "2025-05-16", "tenure": "Developing", "return": 0.168495, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-05-23", "end": "2025-06-20", "tenure": "Developing", "return": -0.03741, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-06-27", "end": "2025-07-04", "tenure": "New", "return": 0.047156, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-07-11", "end": "2025-08-08", "tenure": "Developing", "return": -0.102783, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-08-15", "end": "2025-12-12", "tenure": "Established", "return": -0.003937, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-12-19", "end": "2025-12-26", "tenure": "New", "return": -0.015092, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2026-01-02", "end": "2026-01-16", "tenure": "New", "return": -0.099218, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-01-23", "end": "2026-01-30", "tenure": "New", "return": -0.017073, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2026-02-06", "end": "2026-05-01", "tenure": "Established", "return": -0.000966, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-05-08", "end": "2026-08-07", "tenure": "Established", "return": 0.071062, "active": true } ], "chart_path": [ { "date": "2023-08-18", "close": 70.205925, "volume": 198336, "typical_volume": 356986.1, "trend": 78.753384, "fair_value": 51.762673, "relative_strength": -6.464929, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -73.671019, "energy": 76.614428, "activity_lines": [ 71.712183, 73.867844, 76.672241, 78.072547 ] }, { "date": "2023-08-25", "close": 67.975624, "volume": 307161, "typical_volume": 358235.55, "trend": 78.529239, "fair_value": 52.040552, "relative_strength": -10.879299, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -79.199323, "energy": 82.341446, "activity_lines": [ 70.241478, 72.450326, 75.593633, 77.377207 ] }, { "date": "2023-09-01", "close": 73.16349, "volume": 702980, "typical_volume": 377357.2, "trend": 78.373806, "fair_value": 52.352421, "relative_strength": -5.719063, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -63.185936, "energy": 62.708876, "activity_lines": [ 70.949355, 72.245808, 75.098619, 77.03103 ] }, { "date": "2023-09-08", "close": 71.272583, "volume": 254096, "typical_volume": 366172.7, "trend": 78.282007, "fair_value": 52.65119, "relative_strength": -6.946789, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -60.254666, "energy": 47.196512, "activity_lines": [ 71.020464, 71.79534, 74.499551, 76.572887 ] }, { "date": "2023-09-15", "close": 72.484703, "volume": 348253, "typical_volume": 370427.65, "trend": 78.145635, "fair_value": 52.94991, "relative_strength": -7.741743, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -56.077436, "energy": 39.801823, "activity_lines": [ 71.544099, 71.690436, 74.094774, 76.198867 ] }, { "date": "2023-09-22", "close": 69.284706, "volume": 291921, "typical_volume": 372303.1, "trend": 77.907406, "fair_value": 53.239236, "relative_strength": -11.00546, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -63.74683, "energy": 39.505853, "activity_lines": [ 70.965513, 71.110381, 73.437242, 75.627194 ] }, { "date": "2023-09-29", "close": 69.866539, "volume": 454335, "typical_volume": 381458.9, "trend": 77.659711, "fair_value": 53.526916, "relative_strength": -9.290928, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -58.74661, "energy": 38.424353, "activity_lines": [ 70.642286, 70.793028, 72.902367, 75.108429 ] }, { "date": "2023-10-06", "close": 69.866539, "volume": 538391, "typical_volume": 391548.7, "trend": 77.439274, "fair_value": 53.805676, "relative_strength": -8.009792, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -56.503659, "energy": 38.217427, "activity_lines": [ 70.192997, 70.56383, 72.419599, 74.605643 ] }, { "date": "2023-10-13", "close": 67.490776, "volume": 436536, "typical_volume": 391286.3, "trend": 77.194157, "fair_value": 54.07055, "relative_strength": -12.516819, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -67.067881, "energy": 47.508674, "activity_lines": [ 69.171585, 69.960855, 71.75351, 73.963805 ] }, { "date": "2023-10-20", "close": 72.824097, "volume": 589402, "typical_volume": 406558.05, "trend": 76.94083, "fair_value": 54.370224, "relative_strength": -2.656747, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -53.456262, "energy": 33.700573, "activity_lines": [ 70.180066, 70.409559, 71.643611, 73.681865 ] }, { "date": "2023-10-27", "close": 72.436218, "volume": 526362, "typical_volume": 422526.9, "trend": 76.422849, "fair_value": 54.677186, "relative_strength": -3.020531, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -40.071819, "energy": 23.272302, "activity_lines": [ 71.036628, 70.771872, 71.532558, 73.391245 ] }, { "date": "2023-11-03", "close": 78.545296, "volume": 478083, "typical_volume": 428991.95, "trend": 76.148586, "fair_value": 55.014878, "relative_strength": -0.186422, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": 2.484164, "energy": 9.496298, "activity_lines": [ 73.719449, 72.204375, 72.0398, 73.528177 ] }, { "date": "2023-11-10", "close": 75.975609, "volume": 487909, "typical_volume": 442192.05, "trend": 75.710104, "fair_value": 55.329133, "relative_strength": -3.01468, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -3.217514, "energy": 18.465073, "activity_lines": [ 74.967124, 72.977487, 72.322628, 73.517017 ] }, { "date": "2023-11-17", "close": 74.957428, "volume": 590601, "typical_volume": 458525.1, "trend": 75.280972, "fair_value": 55.608637, "relative_strength": -7.638988, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 12.27052, "energy": 21.626197, "activity_lines": [ 75.468133, 73.514346, 72.520723, 73.468458 ] }, { "date": "2023-11-24", "close": 75.393791, "volume": 410090, "typical_volume": 454448.9, "trend": 75.013894, "fair_value": 55.889717, "relative_strength": -7.041463, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 14.400857, "energy": 22.497225, "activity_lines": [ 75.61682, 74.063546, 72.775614, 73.475736 ] }, { "date": "2023-12-01", "close": 73.115013, "volume": 608041, "typical_volume": 455276.3, "trend": 74.670856, "fair_value": 56.14226, "relative_strength": -11.310791, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 10.327597, "energy": 15.851046, "activity_lines": [ 74.834602, 74.14553, 72.827563, 73.353228 ] }, { "date": "2023-12-08", "close": 76.799843, "volume": 510520, "typical_volume": 444552.15, "trend": 74.537228, "fair_value": 56.416957, "relative_strength": -8.15967, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 19.750799, "energy": 15.206591, "activity_lines": [ 75.235407, 74.827841, 73.253304, 73.490582 ] }, { "date": "2023-12-15", "close": 82.908928, "volume": 2047879, "typical_volume": 526367.35, "trend": 74.671368, "fair_value": 56.72776, "relative_strength": -0.680457, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 45.98574, "energy": 37.695054, "activity_lines": [ 77.788937, 76.494835, 74.250936, 74.030692 ] }, { "date": "2023-12-22", "close": 85.042252, "volume": 677485, "typical_volume": 538906.3, "trend": 74.91864, "fair_value": 57.051139, "relative_strength": 1.948692, "stage": 3, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 49.072379, "energy": 58.961813, "activity_lines": [ 80.591355, 78.312572, 75.404873, 74.699781 ] }, { "date": "2023-12-29", "close": 85.914978, "volume": 215680, "typical_volume": 533703.05, "trend": 75.104498, "fair_value": 57.383778, "relative_strength": 2.979138, "stage": 3, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "up", "direction": 76.944127, "energy": 80.875522, "activity_lines": [ 83.012359, 79.969868, 76.579819, 75.409222 ] }, { "date": "2024-01-05", "close": 80.339233, "volume": 722259, "typical_volume": 559899.2, "trend": 75.112579, "fair_value": 57.689595, "relative_strength": -3.960655, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 62.890337, "energy": 73.240536, "activity_lines": [ 82.873369, 80.375377, 77.15725, 75.746947 ] }, { "date": "2024-01-12", "close": 83.296806, "volume": 974115, "typical_volume": 593246.9, "trend": 75.12874, "fair_value": 58.014736, "relative_strength": -0.642866, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 63.371856, "energy": 68.854577, "activity_lines": [ 83.238622, 81.174935, 77.968099, 76.274961 ] }, { "date": "2024-01-19", "close": 82.375595, "volume": 605322, "typical_volume": 588364.0, "trend": 75.256417, "fair_value": 58.332751, "relative_strength": -1.14482, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 59.69944, "energy": 49.949252, "activity_lines": [ 82.863674, 81.720609, 78.618257, 76.7425 ] }, { "date": "2024-01-26", "close": 88.339218, "volume": 828594, "typical_volume": 617088.9, "trend": 75.59581, "fair_value": 58.697181, "relative_strength": 5.619648, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 75.429877, "energy": 51.124923, "activity_lines": [ 84.512155, 83.234215, 79.792511, 77.586552 ] }, { "date": "2024-02-02", "close": 90.763466, "volume": 571247, "typical_volume": 628238.6, "trend": 76.009547, "fair_value": 59.067986, "relative_strength": 7.270298, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 79.741032, "energy": 70.826893, "activity_lines": [ 86.748922, 84.945287, 81.116377, 78.565111 ] }, { "date": "2024-02-09", "close": 97.551323, "volume": 549760, "typical_volume": 641130.55, "trend": 76.664091, "fair_value": 59.478394, "relative_strength": 13.34241, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 88.125766, "energy": 89.413867, "activity_lines": [ 90.925075, 87.611067, 82.999663, 79.954903 ] }, { "date": "2024-02-16", "close": 103.27253, "volume": 849236, "typical_volume": 660875.6, "trend": 77.616009, "fair_value": 59.927797, "relative_strength": 17.406998, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 92.442133, "energy": 96.306825, "activity_lines": [ 95.860825, 90.87277, 85.293223, 81.671576 ] }, { "date": "2024-02-23", "close": 105.890701, "volume": 554630, "typical_volume": 661687.55, "trend": 78.710148, "fair_value": 60.398138, "relative_strength": 16.488281, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 88.67033, "energy": 95.481495, "activity_lines": [ 100.337583, 94.129183, 87.677057, 83.49575 ] }, { "date": "2024-03-01", "close": 109.381607, "volume": 884408, "typical_volume": 684081.15, "trend": 79.956206, "fair_value": 60.8955, "relative_strength": 19.029919, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 88.258416, "energy": 95.543521, "activity_lines": [ 104.410303, 97.602455, 90.221814, 85.474554 ] }, { "date": "2024-03-08", "close": 109.381607, "volume": 754881, "typical_volume": 692355.1, "trend": 81.203881, "fair_value": 61.359139, "relative_strength": 16.975259, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 79.420602, "energy": 92.385715, "activity_lines": [ 107.080197, 100.633193, 92.567092, 87.372966 ] }, { "date": "2024-03-15", "close": 104.242226, "volume": 1754833, "typical_volume": 753778.65, "trend": 82.338424, "fair_value": 61.796431, "relative_strength": 9.616337, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 68.060637, "energy": 77.78769, "activity_lines": [ 106.795754, 102.302833, 94.248821, 88.859311 ] }, { "date": "2024-03-22", "close": 98.230118, "volume": 1248348, "typical_volume": 792291.9, "trend": 83.346907, "fair_value": 62.19946, "relative_strength": 2.2518, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 65.218622, "energy": 64.103911, "activity_lines": [ 104.061215, 102.444762, 95.206511, 89.884582 ] }, { "date": "2024-03-29", "close": 102.787674, "volume": 722328, "typical_volume": 804012.85, "trend": 84.33438, "fair_value": 62.627795, "relative_strength": 5.954739, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 60.842535, "energy": 53.028515, "activity_lines": [ 103.182023, 103.143823, 96.504516, 91.138825 ] }, { "date": "2024-04-05", "close": 95.902847, "volume": 748868, "typical_volume": 811926.2, "trend": 85.155389, "fair_value": 63.005153, "relative_strength": 1.26304, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 43.831199, "energy": 33.334669, "activity_lines": [ 100.214756, 102.219968, 97.019148, 91.885178 ] }, { "date": "2024-04-12", "close": 95.7089, "volume": 677579, "typical_volume": 825300.65, "trend": 85.929529, "fair_value": 63.366118, "relative_strength": 2.053519, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 36.787671, "energy": 27.938927, "activity_lines": [ 98.081425, 101.12333, 97.415568, 92.566049 ] }, { "date": "2024-04-19", "close": 94.205879, "volume": 834701, "typical_volume": 836633.65, "trend": 86.760235, "fair_value": 63.706085, "relative_strength": 0.252589, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 30.991707, "energy": 24.771084, "activity_lines": [ 96.3586, 99.663498, 97.572105, 93.100007 ] }, { "date": "2024-04-26", "close": 94.157394, "volume": 634265, "typical_volume": 842820.9, "trend": 87.56993, "fair_value": 64.050872, "relative_strength": -0.529884, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 25.359212, "energy": 25.129298, "activity_lines": [ 95.288704, 98.255677, 97.623591, 93.577243 ] }, { "date": "2024-05-03", "close": 95.078606, "volume": 530799, "typical_volume": 766966.9, "trend": 88.410332, "fair_value": 64.392402, "relative_strength": 2.456676, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 14.334336, "energy": 18.091132, "activity_lines": [ 94.797393, 97.181079, 97.680157, 94.061674 ] }, { "date": "2024-05-10", "close": 92.266487, "volume": 420944, "typical_volume": 754139.85, "trend": 89.236189, "fair_value": 64.716027, "relative_strength": -3.325685, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 3.469722, "energy": 14.970135, "activity_lines": [ 93.882647, 95.79177, 97.410951, 94.310458 ] }, { "date": "2024-05-17", "close": 93.236176, "volume": 510768, "typical_volume": 768894.25, "trend": 89.916592, "fair_value": 65.037926, "relative_strength": -4.201768, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 5.642362, "energy": 15.076534, "activity_lines": [ 93.533554, 94.889953, 97.199696, 94.568522 ] }, { "date": "2024-05-24", "close": 92.267014, "volume": 477463, "typical_volume": 756654.45, "trend": 90.577618, "fair_value": 65.329908, "relative_strength": -2.544527, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 1.252854, "energy": 13.357615, "activity_lines": [ 93.026256, 94.105477, 96.861276, 94.720162 ] }, { "date": "2024-05-31", "close": 90.504875, "volume": 625582, "typical_volume": 739227.8, "trend": 90.976271, "fair_value": 65.610962, "relative_strength": -4.177518, "stage": 3, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "up", "direction": -6.302927, "energy": 26.210783, "activity_lines": [ 92.060836, 93.218343, 96.298235, 94.715469 ] }, { "date": "2024-06-07", "close": 92.218063, "volume": 649921, "typical_volume": 741457.75, "trend": 91.517686, "fair_value": 65.912161, "relative_strength": -2.639864, "stage": 3, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "up", "direction": 0.71363, "energy": 19.854887, "activity_lines": [ 91.90998, 92.783157, 95.86403, 94.795585 ] }, { "date": "2024-06-14", "close": 89.525917, "volume": 613003, "typical_volume": 730678.2, "trend": 92.003302, "fair_value": 66.182174, "relative_strength": 0.454153, "stage": 3, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -29.442164, "energy": 38.394525, "activity_lines": [ 91.052444, 92.050665, 95.126562, 94.667084 ] }, { "date": "2024-06-21", "close": 90.113304, "volume": 528519, "typical_volume": 728541.8, "trend": 92.493953, "fair_value": 66.457418, "relative_strength": -0.714846, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -34.502857, "energy": 41.858398, "activity_lines": [ 90.573409, 91.540915, 94.439384, 94.545148 ] }, { "date": "2024-06-28", "close": 91.532791, "volume": 745665, "typical_volume": 738337.05, "trend": 93.107879, "fair_value": 66.732904, "relative_strength": 1.32608, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -28.927012, "energy": 31.109136, "activity_lines": [ 90.775728, 91.390991, 93.890491, 94.483138 ] }, { "date": "2024-07-05", "close": 91.092262, "volume": 458491, "typical_volume": 718799.8, "trend": 93.584293, "fair_value": 67.004954, "relative_strength": -1.538327, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -27.407577, "energy": 32.42038, "activity_lines": [ 90.880152, 91.209573, 93.328303, 94.353098 ] }, { "date": "2024-07-12", "close": 92.120171, "volume": 855272, "typical_volume": 733831.9, "trend": 93.891334, "fair_value": 67.292086, "relative_strength": -2.097108, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -13.83786, "energy": 16.610393, "activity_lines": [ 91.288053, 91.270777, 92.922013, 94.258639 ] }, { "date": "2024-07-19", "close": 83.847954, "volume": 1224397, "typical_volume": 750831.35, "trend": 93.851524, "fair_value": 67.514644, "relative_strength": -9.849582, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -78.107774, "energy": 55.618493, "activity_lines": [ 88.945075, 89.881731, 91.793466, 93.610679 ] }, { "date": "2024-07-26", "close": 85.218506, "volume": 688199, "typical_volume": 747497.25, "trend": 93.828308, "fair_value": 67.741406, "relative_strength": -7.309795, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -70.649047, "energy": 66.878952, "activity_lines": [ 87.437478, 88.894941, 90.917037, 93.05371 ] }, { "date": "2024-08-02", "close": 81.155807, "volume": 538308, "typical_volume": 686671.0, "trend": 93.855527, "fair_value": 67.926546, "relative_strength": -6.796166, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -80.578126, "energy": 82.569716, "activity_lines": [ 84.901968, 87.315254, 89.768746, 92.236129 ] }, { "date": "2024-08-09", "close": 81.89003, "volume": 722410, "typical_volume": 660374.1, "trend": 93.808635, "fair_value": 68.117004, "relative_strength": -5.27301, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -72.705822, "energy": 84.06256, "activity_lines": [ 83.302998, 86.071084, 88.800317, 91.464161 ] }, { "date": "2024-08-16", "close": 83.701103, "volume": 342845, "typical_volume": 641399.95, "trend": 93.852819, "fair_value": 68.351633, "relative_strength": -6.870254, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -64.078701, "energy": 77.135508, "activity_lines": [ 82.921201, 85.312833, 88.082181, 90.812062 ] }, { "date": "2024-08-23", "close": 87.714844, "volume": 608923, "typical_volume": 634402.7, "trend": 93.832006, "fair_value": 68.606005, "relative_strength": -4.303873, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -61.214658, "energy": 51.814509, "activity_lines": [ 84.438589, 85.439208, 87.837194, 90.416064 ] }, { "date": "2024-08-30", "close": 86.882729, "volume": 730513, "typical_volume": 637049.4, "trend": 93.702648, "fair_value": 68.86164, "relative_strength": -7.188403, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -55.005591, "energy": 37.726235, "activity_lines": [ 85.420813, 85.447217, 87.551949, 89.967724 ] }, { "date": "2024-09-06", "close": 81.449493, "volume": 1393891, "typical_volume": 665008.9, "trend": 93.16592, "fair_value": 69.08147, "relative_strength": -10.115132, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -68.171416, "energy": 39.896278, "activity_lines": [ 84.48101, 84.526103, 86.791282, 89.177197 ] }, { "date": "2024-09-13", "close": 83.162674, "volume": 554519, "typical_volume": 661021.6, "trend": 92.495592, "fair_value": 69.321567, "relative_strength": -8.961833, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -58.013639, "energy": 35.212567, "activity_lines": [ 84.092688, 84.099809, 86.25452, 88.531827 ] }, { "date": "2024-09-20", "close": 81.449493, "volume": 1107452, "typical_volume": 689854.25, "trend": 91.680885, "fair_value": 69.541152, "relative_strength": -11.342, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -63.539592, "energy": 42.606855, "activity_lines": [ 83.048463, 83.506202, 85.606953, 87.819175 ] }, { "date": "2024-09-27", "close": 93.050179, "volume": 1553653, "typical_volume": 746489.7, "trend": 91.136504, "fair_value": 69.845486, "relative_strength": -1.672109, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -16.953596, "energy": 14.54882, "activity_lines": [ 86.02124, 85.215823, 86.129115, 87.907517 ] }, { "date": "2024-10-04", "close": 92.511757, "volume": 944534, "typical_volume": 768178.0, "trend": 90.574176, "fair_value": 70.151134, "relative_strength": 0.883949, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": 0.71227, "energy": 9.670865, "activity_lines": [ 88.458855, 86.660236, 86.596266, 87.996243 ] }, { "date": "2024-10-11", "close": 92.854385, "volume": 596562, "typical_volume": 774132.95, "trend": 90.194581, "fair_value": 70.443827, "relative_strength": -1.070213, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 21.650737, "energy": 27.049399, "activity_lines": [ 90.63541, 88.034341, 87.099498, 88.143353 ] }, { "date": "2024-10-18", "close": 93.686501, "volume": 1173970, "typical_volume": 801552.35, "trend": 90.043127, "fair_value": 70.73098, "relative_strength": -2.723633, "stage": 4, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 25.599456, "energy": 35.09801, "activity_lines": [ 92.329011, 89.347037, 87.679182, 88.368638 ] }, { "date": "2024-10-25", "close": 91.190155, "volume": 619757, "typical_volume": 800044.15, "trend": 89.656543, "fair_value": 70.995411, "relative_strength": -4.128493, "stage": 4, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 20.112737, "energy": 41.931623, "activity_lines": [ 92.488908, 89.991372, 88.005968, 88.44264 ] }, { "date": "2024-11-01", "close": 89.574875, "volume": 541100, "typical_volume": 796449.0, "trend": 89.445611, "fair_value": 71.20153, "relative_strength": -5.451436, "stage": 4, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 18.019481, "energy": 32.421764, "activity_lines": [ 91.461002, 90.205854, 88.183813, 88.437371 ] }, { "date": "2024-11-08", "close": 89.379082, "volume": 557544, "typical_volume": 797900.25, "trend": 89.234617, "fair_value": 71.386845, "relative_strength": -3.246417, "stage": 4, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 12.827479, "energy": 13.257355, "activity_lines": [ 90.599517, 90.35092, 88.342778, 88.433079 ] }, { "date": "2024-11-15", "close": 86.197456, "volume": 690774, "typical_volume": 795155.7, "trend": 88.967669, "fair_value": 71.57223, "relative_strength": -7.70085, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -13.981256, "energy": 10.821468, "activity_lines": [ 88.886336, 89.872119, 88.202228, 88.237133 ] }, { "date": "2024-11-22", "close": 89.476974, "volume": 677043, "typical_volume": 806083.3, "trend": 88.811655, "fair_value": 71.807657, "relative_strength": -2.270951, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 0.744842, "energy": 7.619928, "activity_lines": [ 88.710123, 89.903268, 88.399418, 88.269991 ] }, { "date": "2024-11-29", "close": 91.777534, "volume": 753207, "typical_volume": 800980.05, "trend": 88.70162, "fair_value": 72.054165, "relative_strength": 0.267629, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 9.504798, "energy": 7.597051, "activity_lines": [ 89.581398, 90.237895, 88.823401, 88.461338 ] }, { "date": "2024-12-06", "close": 94.861259, "volume": 750059, "typical_volume": 777263.15, "trend": 88.788112, "fair_value": 72.319219, "relative_strength": -0.487223, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 59.281082, "energy": 31.517804, "activity_lines": [ 91.441423, 90.945416, 89.542705, 88.858734 ] }, { "date": "2024-12-13", "close": 101.909767, "volume": 1421346, "typical_volume": 813920.5, "trend": 89.077232, "fair_value": 72.632816, "relative_strength": 6.338324, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 76.499865, "energy": 67.354112, "activity_lines": [ 95.298525, 92.901556, 90.88085, 89.705293 ] }, { "date": "2024-12-20", "close": 102.790833, "volume": 911754, "typical_volume": 832592.8, "trend": 89.428026, "fair_value": 72.943813, "relative_strength": 10.637102, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 76.667006, "energy": 78.378702, "activity_lines": [ 98.613937, 94.847017, 92.223424, 90.590041 ] }, { "date": "2024-12-27", "close": 103.476105, "volume": 230952, "typical_volume": 808019.9, "trend": 89.8604, "fair_value": 73.236294, "relative_strength": 9.93439, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 77.917857, "energy": 87.066471, "activity_lines": [ 101.051547, 96.73641, 93.528238, 91.496369 ] }, { "date": "2025-01-03", "close": 101.224503, "volume": 350209, "typical_volume": 808388.1, "trend": 90.160615, "fair_value": 73.51373, "relative_strength": 7.401242, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 66.888299, "energy": 83.705427, "activity_lines": [ 101.805348, 98.038428, 94.515823, 92.229537 ] }, { "date": "2025-01-10", "close": 107.000366, "volume": 796044, "typical_volume": 817744.15, "trend": 90.743096, "fair_value": 73.869122, "relative_strength": 10.174926, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 80.428046, "energy": 88.208731, "activity_lines": [ 103.854639, 100.20816, 95.970046, 93.315972 ] }, { "date": "2025-01-17", "close": 113.950989, "volume": 1578473, "typical_volume": 860142.15, "trend": 91.537686, "fair_value": 74.270598, "relative_strength": 13.189037, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 90.993423, "energy": 94.753143, "activity_lines": [ 107.411531, 103.324815, 97.994396, 94.813256 ] }, { "date": "2025-01-24", "close": 118.258408, "volume": 938705, "typical_volume": 837382.85, "trend": 92.42854, "fair_value": 74.717096, "relative_strength": 17.393239, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 91.176159, "energy": 95.135965, "activity_lines": [ 111.60148, 106.777875, 100.300081, 96.537173 ] }, { "date": "2025-01-31", "close": 121.978455, "volume": 1022059, "typical_volume": 860759.85, "trend": 93.45808, "fair_value": 75.178276, "relative_strength": 19.863541, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 89.927333, "energy": 95.867208, "activity_lines": [ 116.000274, 110.32438, 102.784775, 98.44362 ] }, { "date": "2025-02-07", "close": 120.60791, "volume": 757927, "typical_volume": 843283.6, "trend": 94.407671, "fair_value": 75.63281, "relative_strength": 16.549587, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 76.627137, "energy": 91.297837, "activity_lines": [ 118.708729, 113.03076, 104.954105, 100.195222 ] }, { "date": "2025-02-14", "close": 128.048004, "volume": 870285, "typical_volume": 809115.2, "trend": 95.881006, "fair_value": 76.132287, "relative_strength": 20.637992, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 88.964002, "energy": 95.151752, "activity_lines": [ 122.604989, 116.565695, 107.645545, 102.365566 ] }, { "date": "2025-02-21", "close": 123.936378, "volume": 1000467, "typical_volume": 811911.85, "trend": 97.171602, "fair_value": 76.6106, "relative_strength": 15.427842, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 70.434746, "energy": 82.898077, "activity_lines": [ 123.72753, 118.749667, 109.778747, 104.17559 ] }, { "date": "2025-02-28", "close": 122.370041, "volume": 763570, "typical_volume": 820262.25, "trend": 98.545409, "fair_value": 77.128663, "relative_strength": 13.400496, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 67.809999, "energy": 67.140567, "activity_lines": [ 123.662267, 120.248366, 111.613132, 105.801295 ] }, { "date": "2025-03-07", "close": 109.056183, "volume": 1110670, "typical_volume": 817097.25, "trend": 99.450948, "fair_value": 77.540975, "relative_strength": 1.538741, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 54.246789, "energy": 53.399953, "activity_lines": [ 118.884942, 118.970379, 112.03898, 106.47941 ] }, { "date": "2025-03-14", "close": 108.27301, "volume": 1546732, "typical_volume": 863446.0, "trend": 100.270011, "fair_value": 77.904526, "relative_strength": 0.836246, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 44.328142, "energy": 32.510659, "activity_lines": [ 114.708044, 117.44854, 112.317051, 107.048575 ] }, { "date": "2025-03-21", "close": 105.238235, "volume": 1112649, "typical_volume": 892023.45, "trend": 100.854124, "fair_value": 78.259008, "relative_strength": -2.836194, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 22.287616, "energy": 30.468886, "activity_lines": [ 110.341882, 115.246769, 112.224749, 107.369106 ] }, { "date": "2025-03-28", "close": 104.552971, "volume": 806443, "typical_volume": 904468.4, "trend": 101.443133, "fair_value": 78.607571, "relative_strength": -2.553871, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 7.996428, "energy": 29.054347, "activity_lines": [ 107.267949, 112.952443, 111.992596, 107.607741 ] }, { "date": "2025-04-04", "close": 94.029144, "volume": 1306715, "typical_volume": 935265.45, "trend": 101.862454, "fair_value": 78.888978, "relative_strength": -1.94536, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -24.036129, "energy": 38.847928, "activity_lines": [ 101.978301, 108.915568, 110.685917, 107.129419 ] }, { "date": "2025-04-11", "close": 92.100586, "volume": 1554449, "typical_volume": 979135.75, "trend": 102.160385, "fair_value": 79.159551, "relative_strength": -2.116639, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -42.658471, "energy": 48.894896, "activity_lines": [ 97.935193, 104.968577, 109.158273, 106.499621 ] }, { "date": "2025-04-18", "close": 94.587151, "volume": 914174, "typical_volume": 987184.1, "trend": 102.598307, "fair_value": 79.45767, "relative_strength": -4.829599, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -33.25911, "energy": 59.926601, "activity_lines": [ 95.851314, 102.016924, 107.854951, 106.011025 ] }, { "date": "2025-04-25", "close": 97.944984, "volume": 597558, "typical_volume": 979559.05, "trend": 102.761467, "fair_value": 79.784584, "relative_strength": -4.97699, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -29.247575, "energy": 61.387225, "activity_lines": [ 95.799103, 100.14889, 106.858043, 105.710811 ] }, { "date": "2025-05-02", "close": 100.147644, "volume": 521039, "typical_volume": 934543.7, "trend": 103.015996, "fair_value": 80.150176, "relative_strength": -5.182671, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -25.70314, "energy": 38.603693, "activity_lines": [ 96.967328, 99.228667, 106.056228, 105.542177 ] }, { "date": "2025-05-09", "close": 99.902908, "volume": 458012, "typical_volume": 911856.6, "trend": 103.250947, "fair_value": 80.501859, "relative_strength": -7.83754, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -29.656129, "energy": 29.248867, "activity_lines": [ 98.347664, 98.69647, 105.239496, 105.341333 ] }, { "date": "2025-05-16", "close": 110.52462, "volume": 742185, "typical_volume": 937418.25, "trend": 103.812218, "fair_value": 80.935314, "relative_strength": -1.322309, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": 5.959454, "energy": 11.390699, "activity_lines": [ 102.876986, 100.503986, 105.448107, 105.810602 ] }, { "date": "2025-05-23", "close": 102.913467, "volume": 785328, "typical_volume": 959174.2, "trend": 104.202995, "fair_value": 81.311347, "relative_strength": -5.323758, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -3.556365, "energy": 13.344596, "activity_lines": [ 103.640987, 100.900957, 104.898283, 105.752618 ] }, { "date": "2025-05-30", "close": 107.059616, "volume": 545734, "typical_volume": 946658.7, "trend": 104.785819, "fair_value": 81.708777, "relative_strength": -3.044753, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 7.020156, "energy": 16.404434, "activity_lines": [ 105.231951, 102.14922, 104.735287, 105.936916 ] }, { "date": "2025-06-06", "close": 102.370514, "volume": 668080, "typical_volume": 901139.05, "trend": 105.218867, "fair_value": 82.09317, "relative_strength": -8.378097, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 2.017001, "energy": 14.311279, "activity_lines": [ 104.652239, 102.511802, 104.125428, 105.78109 ] }, { "date": "2025-06-13", "close": 96.822571, "volume": 609387, "typical_volume": 884673.15, "trend": 105.573038, "fair_value": 82.462595, "relative_strength": -10.609653, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -49.007831, "energy": 23.794891, "activity_lines": [ 102.075021, 101.905349, 103.042338, 105.239394 ] }, { "date": "2025-06-20", "close": 99.063461, "volume": 784793, "typical_volume": 872809.85, "trend": 105.892587, "fair_value": 82.829488, "relative_strength": -7.939678, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -50.78697, "energy": 29.278442, "activity_lines": [ 100.450122, 101.655541, 102.274742, 104.819421 ] }, { "date": "2025-06-27", "close": 101.53141, "volume": 516889, "typical_volume": 860757.95, "trend": 106.217716, "fair_value": 83.220835, "relative_strength": -6.724627, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -48.354711, "energy": 35.003457, "activity_lines": [ 100.41195, 101.727853, 101.851308, 104.538055 ] }, { "date": "2025-07-04", "close": 106.319229, "volume": 571747, "typical_volume": 845831.05, "trend": 106.599649, "fair_value": 83.617589, "relative_strength": -2.03252, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -27.713018, "energy": 19.672047, "activity_lines": [ 102.061855, 102.544418, 101.974697, 104.544604 ] }, { "date": "2025-07-11", "close": 106.417953, "volume": 702013, "typical_volume": 830908.35, "trend": 106.749922, "fair_value": 84.006959, "relative_strength": -3.051371, "stage": 2, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -10.759085, "energy": 8.939949, "activity_lines": [ 103.794027, 103.226675, 102.210959, 104.532882 ] }, { "date": "2025-07-18", "close": 103.752563, "volume": 566801, "typical_volume": 821069.9, "trend": 106.781979, "fair_value": 84.347979, "relative_strength": -6.109467, "stage": 2, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -13.423685, "energy": 13.98397, "activity_lines": [ 104.367906, 103.310309, 102.276795, 104.339504 ] }, { "date": "2025-07-25", "close": 100.198723, "volume": 576374, "typical_volume": 794355.1, "trend": 106.672733, "fair_value": 84.642167, "relative_strength": -10.209428, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -23.505546, "energy": 15.261893, "activity_lines": [ 103.295173, 102.677797, 102.092824, 103.914777 ] }, { "date": "2025-08-01", "close": 96.072311, "volume": 772301, "typical_volume": 755633.55, "trend": 106.500994, "fair_value": 84.913912, "relative_strength": -12.139757, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -58.348011, "energy": 29.353423, "activity_lines": [ 100.771285, 101.482771, 101.558041, 103.230879 ] }, { "date": "2025-08-08", "close": 95.480003, "volume": 694693, "typical_volume": 734735.75, "trend": 106.116981, "fair_value": 85.176619, "relative_strength": -16.041065, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -60.794896, "energy": 50.609005, "activity_lines": [ 98.4139, 100.304438, 101.024946, 102.519848 ] }, { "date": "2025-08-15", "close": 95.282562, "volume": 423970, "typical_volume": 715612.1, "trend": 105.4947, "fair_value": 85.435901, "relative_strength": -18.065242, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -62.982218, "energy": 63.932018, "activity_lines": [ 96.713318, 99.300745, 100.519514, 101.820853 ] }, { "date": "2025-08-22", "close": 98.767311, "volume": 639505, "typical_volume": 682251.6, "trend": 104.844997, "fair_value": 85.733247, "relative_strength": -16.162176, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -58.134687, "energy": 61.547292, "activity_lines": [ 96.916677, 99.059515, 100.390108, 101.386828 ] }, { "date": "2025-08-29", "close": 97.553078, "volume": 1139254, "typical_volume": 661491.85, "trend": 104.030818, "fair_value": 86.033601, "relative_strength": -14.876874, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -56.085542, "energy": 52.479737, "activity_lines": [ 97.047642, 98.562156, 100.122499, 100.916381 ] }, { "date": "2025-09-05", "close": 94.94693, "volume": 1147574, "typical_volume": 673161.85, "trend": 103.175452, "fair_value": 86.316324, "relative_strength": -15.88207, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -62.289474, "energy": 42.64591, "activity_lines": [ 96.486268, 97.618413, 99.58072, 100.330324 ] }, { "date": "2025-09-12", "close": 96.447433, "volume": 624902, "typical_volume": 674529.05, "trend": 102.1221, "fair_value": 86.624391, "relative_strength": -16.350321, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -54.372607, "energy": 33.637471, "activity_lines": [ 96.500087, 97.067207, 99.180134, 99.896258 ] }, { "date": "2025-09-19", "close": 102.419876, "volume": 1314477, "typical_volume": 714200.95, "trend": 101.404883, "fair_value": 86.991092, "relative_strength": -10.642279, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -25.089832, "energy": 15.842573, "activity_lines": [ 98.440225, 97.781387, 99.355482, 99.91547 ] }, { "date": "2025-09-26", "close": 82.528206, "volume": 7486419, "typical_volume": 1065621.3, "trend": 100.076822, "fair_value": 87.211475, "relative_strength": -28.181504, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -78.974629, "energy": 48.441915, "activity_lines": [ 93.273985, 94.951592, 97.625566, 98.697619 ] }, { "date": "2025-10-03", "close": 90.129494, "volume": 10675524, "typical_volume": 1562288.25, "trend": 99.445932, "fair_value": 87.479042, "relative_strength": -22.304612, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -61.001072, "energy": 48.118476, "activity_lines": [ 91.724115, 93.889746, 96.702319, 98.055856 ] }, { "date": "2025-10-10", "close": 87.404877, "volume": 4063506, "typical_volume": 1726197.15, "trend": 98.750328, "fair_value": 87.726985, "relative_strength": -22.134566, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -66.478315, "energy": 59.610692, "activity_lines": [ 89.760944, 92.515593, 95.616703, 97.279014 ] }, { "date": "2025-10-17", "close": 88.747437, "volume": 2478196, "typical_volume": 1822820.25, "trend": 98.200634, "fair_value": 87.945918, "relative_strength": -20.080911, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -60.828745, "energy": 67.159938, "activity_lines": [ 88.748098, 91.543131, 94.732802, 96.633666 ] }, { "date": "2025-10-24", "close": 88.846153, "volume": 2023737, "typical_volume": 1890603.1, "trend": 97.677074, "fair_value": 88.151916, "relative_strength": -21.061643, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -57.432481, "energy": 54.833449, "activity_lines": [ 88.281489, 90.711028, 93.945502, 96.030151 ] }, { "date": "2025-10-31", "close": 86.615128, "volume": 1538383, "typical_volume": 1937052.9, "trend": 97.42994, "fair_value": 88.352555, "relative_strength": -23.951607, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -64.776849, "energy": 53.312985, "activity_lines": [ 87.976121, 89.59031, 93.010126, 95.316478 ] }, { "date": "2025-11-07", "close": 85.529236, "volume": 1210119, "typical_volume": 1958319.2, "trend": 97.210895, "fair_value": 88.515708, "relative_strength": -24.095577, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -64.926738, "energy": 48.12191, "activity_lines": [ 87.036327, 88.493105, 92.019938, 94.54869 ] }, { "date": "2025-11-14", "close": 89.241028, "volume": 2254394, "typical_volume": 2045194.45, "trend": 97.032691, "fair_value": 88.710362, "relative_strength": -22.460523, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -55.879906, "energy": 37.448822, "activity_lines": [ 87.640481, 88.289387, 91.447703, 94.034505 ] }, { "date": "2025-11-21", "close": 87.464104, "volume": 1587000, "typical_volume": 2095957.1, "trend": 96.683328, "fair_value": 88.901334, "relative_strength": -21.270407, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -55.021241, "energy": 35.489191, "activity_lines": [ 87.529917, 87.866336, 90.764763, 93.417177 ] }, { "date": "2025-11-28", "close": 90.484879, "volume": 1324388, "typical_volume": 2127075.85, "trend": 96.361236, "fair_value": 89.087004, "relative_strength": -19.464587, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -41.207041, "energy": 25.948177, "activity_lines": [ 88.511833, 88.155849, 90.459302, 93.017277 ] }, { "date": "2025-12-05", "close": 93.604362, "volume": 1592461, "typical_volume": 2178358.85, "trend": 96.151285, "fair_value": 89.259986, "relative_strength": -16.477696, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -31.110983, "energy": 16.177112, "activity_lines": [ 90.424329, 89.229542, 90.526806, 92.839414 ] }, { "date": "2025-12-12", "close": 94.90744, "volume": 2141423, "typical_volume": 2256611.3, "trend": 95.630712, "fair_value": 89.437314, "relative_strength": -15.003915, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -18.996996, "energy": 14.206529, "activity_lines": [ 92.305235, 90.338773, 90.766738, 92.759166 ] }, { "date": "2025-12-19", "close": 98.767311, "volume": 2171632, "typical_volume": 2326577.85, "trend": 95.492507, "fair_value": 89.640925, "relative_strength": -13.462436, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": 5.152855, "energy": 17.017371, "activity_lines": [ 94.847551, 92.062926, 91.399473, 92.961527 ] }, { "date": "2025-12-26", "close": 97.276672, "volume": 388612, "typical_volume": 2311273.8, "trend": 95.166409, "fair_value": 89.838373, "relative_strength": -13.929331, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 23.537685, "energy": 38.451749, "activity_lines": [ 96.257902, 93.309465, 91.877409, 93.076635 ] }, { "date": "2026-01-02", "close": 95.914368, "volume": 645047, "typical_volume": 2322327.65, "trend": 94.951204, "fair_value": 90.02123, "relative_strength": -16.026119, "stage": 4, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 22.107969, "energy": 46.816102, "activity_lines": [ 96.55998, 94.153236, 92.217047, 93.12489 ] }, { "date": "2026-01-09", "close": 98.145386, "volume": 2088675, "typical_volume": 2394786.15, "trend": 94.995297, "fair_value": 90.227022, "relative_strength": -14.129141, "stage": 4, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 29.343281, "energy": 53.13443, "activity_lines": [ 97.243765, 95.274133, 92.766153, 93.330967 ] }, { "date": "2026-01-16", "close": 86.397949, "volume": 3150526, "typical_volume": 2495349.75, "trend": 94.573114, "fair_value": 90.333768, "relative_strength": -23.805192, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "down", "direction": -38.888362, "energy": 18.911227, "activity_lines": [ 93.709003, 94.049491, 92.199418, 92.776299 ] }, { "date": "2026-01-23", "close": 80.948723, "volume": 2586050, "typical_volume": 2567273.55, "trend": 93.887024, "fair_value": 90.373824, "relative_strength": -26.232268, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -60.839336, "energy": 39.573521, "activity_lines": [ 88.925132, 91.818286, 91.166828, 91.897306 ] }, { "date": "2026-01-30", "close": 79.566666, "volume": 2037082, "typical_volume": 2637882.55, "trend": 92.995272, "fair_value": 90.384979, "relative_strength": -27.691478, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -76.071329, "energy": 65.634593, "activity_lines": [ 84.868481, 89.486567, 90.069272, 90.973412 ] }, { "date": "2026-02-06", "close": 81.777946, "volume": 1877187, "typical_volume": 2666018.05, "trend": 92.173939, "fair_value": 90.434667, "relative_strength": -25.374762, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -66.264055, "energy": 72.38808, "activity_lines": [ 82.72959, 87.700489, 89.262699, 90.249713 ] }, { "date": "2026-02-13", "close": 84.127441, "volume": 2018641, "typical_volume": 2392629.15, "trend": 91.519768, "fair_value": 90.483075, "relative_strength": -21.516775, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -62.357036, "energy": 76.137181, "activity_lines": [ 82.316292, 86.4999, 88.778182, 89.730585 ] }, { "date": "2026-02-20", "close": 86.575638, "volume": 1677613, "typical_volume": 1942733.6, "trend": 91.065665, "fair_value": 90.548101, "relative_strength": -20.156881, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -61.11269, "energy": 66.374916, "activity_lines": [ 83.65359, 85.916745, 88.519212, 89.411608 ] }, { "date": "2026-02-27", "close": 81.284355, "volume": 1808924, "typical_volume": 1830004.5, "trend": 90.572733, "fair_value": 90.573658, "relative_strength": -25.318153, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -67.743355, "energy": 47.010712, "activity_lines": [ 83.215281, 84.523026, 87.773232, 88.780556 ] }, { "date": "2026-03-06", "close": 74.07795, "volume": 2245005, "typical_volume": 1818344.95, "trend": 89.859331, "fair_value": 90.558263, "relative_strength": -26.521632, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -82.515626, "energy": 55.93446, "activity_lines": [ 80.352461, 82.136923, 86.370074, 87.716377 ] }, { "date": "2026-03-13", "close": 69.438202, "volume": 1699201, "typical_volume": 1802118.15, "trend": 88.997853, "fair_value": 90.523608, "relative_strength": -30.659531, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -86.929813, "energy": 80.320847, "activity_lines": [ 76.308973, 79.329025, 84.59489, 86.398884 ] }, { "date": "2026-03-20", "close": 71.41256, "volume": 2110461, "typical_volume": 1830722.05, "trend": 88.086028, "fair_value": 90.465843, "relative_strength": -25.57931, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -75.370716, "energy": 86.368523, "activity_lines": [ 73.746254, 77.361486, 83.100159, 85.264349 ] }, { "date": "2026-03-27", "close": 70.859741, "volume": 1229787, "typical_volume": 1831705.45, "trend": 87.19625, "fair_value": 90.356126, "relative_strength": -26.398005, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -71.19028, "energy": 85.746055, "activity_lines": [ 71.84692, 75.779485, 81.625171, 84.152976 ] }, { "date": "2026-04-03", "close": 75.815392, "volume": 1067318, "typical_volume": 1772351.65, "trend": 86.558532, "fair_value": 90.285884, "relative_strength": -24.438381, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -65.856083, "energy": 74.813889, "activity_lines": [ 72.647197, 75.381025, 80.692005, 83.418727 ] }, { "date": "2026-04-10", "close": 82.765129, "volume": 2146869, "typical_volume": 1800345.1, "trend": 86.102455, "fair_value": 90.245083, "relative_strength": -20.274428, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -58.155994, "energy": 41.456549, "activity_lines": [ 76.128651, 76.339487, 80.48465, 83.173992 ] }, { "date": "2026-04-17", "close": 86.713844, "volume": 2349948, "typical_volume": 1851623.1, "trend": 85.578921, "fair_value": 90.237919, "relative_strength": -18.006493, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -22.695111, "energy": 18.588651, "activity_lines": [ 80.347197, 77.957743, 80.67574, 83.213436 ] }, { "date": "2026-04-24", "close": 82.824364, "volume": 1146311, "typical_volume": 1829315.6, "trend": 85.588792, "fair_value": 90.23419, "relative_strength": -19.054607, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -26.20154, "energy": 27.495128, "activity_lines": [ 82.117541, 78.779078, 80.51436, 83.035723 ] }, { "date": "2026-05-01", "close": 81.698982, "volume": 690010, "typical_volume": 1756744.95, "trend": 85.307775, "fair_value": 90.223246, "relative_strength": -20.475933, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -21.530906, "energy": 26.489348, "activity_lines": [ 82.75197, 79.419489, 80.297134, 82.784767 ] }, { "date": "2026-05-08", "close": 84.028725, "volume": 1225443, "typical_volume": 1709435.5, "trend": 85.195237, "fair_value": 90.243888, "relative_strength": -19.333959, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -5.991066, "energy": 18.359983, "activity_lines": [ 83.440364, 80.572157, 80.364685, 82.702248 ] }, { "date": "2026-05-15", "close": 80.080002, "volume": 933584, "typical_volume": 1736684.1, "trend": 84.906323, "fair_value": 90.25155, "relative_strength": -22.080823, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -13.802954, "energy": 12.144872, "activity_lines": [ 82.264962, 80.956978, 80.126352, 82.372233 ] }, { "date": "2026-05-22", "close": 82.300003, "volume": 1020529, "typical_volume": 1755458.2, "trend": 84.688118, "fair_value": 90.281523, "relative_strength": -19.863763, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -12.3473, "energy": 8.906334, "activity_lines": [ 82.008568, 81.636307, 80.181336, 82.204083 ] }, { "date": "2026-05-29", "close": 82.480003, "volume": 1821758, "typical_volume": 1742112.35, "trend": 84.55028, "fair_value": 90.295246, "relative_strength": -19.772368, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -19.538154, "energy": 10.969278, "activity_lines": [ 82.106431, 82.114512, 80.318294, 82.061624 ] }, { "date": "2026-06-05", "close": 82.919998, "volume": 241448, "typical_volume": 1596658.45, "trend": 84.463305, "fair_value": 90.313344, "relative_strength": -18.45571, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -17.415138, "energy": 9.361301, "activity_lines": [ 82.373916, 82.47149, 80.571753, 81.956445 ] }, { "date": "2026-06-12", "close": 85.419998, "volume": 510999, "typical_volume": 1492905.9, "trend": 84.335938, "fair_value": 90.330062, "relative_strength": -17.99756, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": 2.951127, "energy": 11.344945, "activity_lines": [ 83.393333, 83.063736, 81.079868, 82.018167 ] }, { "date": "2026-06-19", "close": 84.68, "volume": 528205, "typical_volume": 1417462.05, "trend": 84.243134, "fair_value": 90.369387, "relative_strength": -20.086477, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -1.119254, "energy": 16.949643, "activity_lines": [ 84.073333, 83.346808, 81.496216, 82.040364 ] }, { "date": "2026-06-26", "close": 81.919998, "volume": 221936, "typical_volume": 1334699.5, "trend": 83.957638, "fair_value": 90.393506, "relative_strength": -19.564272, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -4.168313, "energy": 11.793867, "activity_lines": [ 83.526666, 83.093245, 81.625358, 81.890484 ] }, { "date": "2026-07-03", "close": 82.339996, "volume": 272366, "typical_volume": 1247385.75, "trend": 83.582159, "fair_value": 90.419074, "relative_strength": -20.667034, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": 2.209654, "energy": 6.402145, "activity_lines": [ 83.145331, 83.003207, 81.793822, 81.78612 ] }, { "date": "2026-07-10", "close": 80.32, "volume": 1434256, "typical_volume": 1235217.9, "trend": 83.095911, "fair_value": 90.434491, "relative_strength": -21.444017, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -20.125672, "energy": 11.104054, "activity_lines": [ 82.099998, 82.554703, 81.778418, 81.575658 ] }, { "date": "2026-07-17", "close": 82.300003, "volume": 1301353, "typical_volume": 1209839.35, "trend": 82.547001, "fair_value": 90.483113, "relative_strength": -17.566324, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -17.350644, "energy": 12.901188, "activity_lines": [ 81.888, 82.491272, 81.981374, 81.52431 ] }, { "date": "2026-07-24", "close": 81.580002, "volume": 942385, "typical_volume": 1144708.35, "trend": 82.023779, "fair_value": 90.537686, "relative_strength": -17.43065, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -1.28304, "energy": 6.527969, "activity_lines": [ 81.644001, 82.328364, 82.110923, 81.461923 ] }, { "date": "2026-07-31", "close": 88.5, "volume": 2112413, "typical_volume": 1165368.95, "trend": 81.776633, "fair_value": 90.643456, "relative_strength": -10.42337, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 62.157629, "energy": 36.376619, "activity_lines": [ 83.913334, 83.396364, 82.863794, 81.879743 ] }, { "date": "2026-08-07", "close": 90.0, "volume": 2273788, "typical_volume": 1173535.3, "trend": 81.50512, "fair_value": 90.759153, "relative_strength": -10.964314, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 68.261267, "energy": 60.994985, "activity_lines": [ 86.244001, 84.624364, 83.668753, 82.410283 ] } ], "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." } } }