{ "ticker": { "uuid": "8860f143-390b-4d3e-b5f0-1428cb536327", "symbol": "BRAP3", "name": "Bradespar S.A.", "exchange": "SAO", "country": "BR", "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": "^BVSP", "stage": 3, "stage_name": "Distribution", "phase": "3b", "phase_label": "Stage 3B \u00b7 Distribution", "transition": "stage_3_churning", "transition_label": "Stage 3 range intact", "confidence": 96.0, "architecture_regime": "downward_expansion", "architecture_regime_label": "Downward Expansion", "architecture_modifier": "Early contraction", "architecture_gate": "down", "architecture_direction": -59.022, "architecture_energy": 58.221, "architecture_maturity": 10.612, "architecture_confidence": 84.288, "architecture_tenure": "New", "architecture": { "interpretation": { "headline": "The weekly architecture is expanding downward.", "body": "Trend and Activity show sustained negative alignment with weak price acceptance. Repair requires persistent improvement across the structure, not merely one strong observation." }, "scores": { "balance": 19.38, "rotation_up": 15.72, "upward_expansion": 12.12, "deceleration": 40.93, "rotation_down": 58.84, "downward_expansion": 83.12 }, "activity_lines": [ 18.544667, 18.707273, 19.101619, 19.361054 ], "activity_state": "Wide", "activity_direction": "Expanding", "rotation_direction": "Weakening", "price_acceptance": -0.5 }, "latest_close": 18.57, "trend_reference": 19.706, "distance_from_trend": -0.057647, "trend_direction": "Improving", "fair_value": 15.542064, "distance_from_fair_value": 0.194822, "fair_value_direction": "Weakening", "relative_strength": 1.677995, "relative_strength_direction": "Weakening", "price_momentum": -0.111483, "excess_performance": -0.054435, "evidence": [ { "label": "Price vs Trend", "positive": false, "value": -0.057647, "read": "Below" }, { "label": "Trend direction", "positive": true, "value": 0.036141, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.194822, "read": "Premium" }, { "label": "Fair Value direction", "positive": false, "value": -0.111942, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": true, "value": 0.01678, "read": "Leading" }, { "label": "Relative strength direction", "positive": false, "value": -0.032861, "read": "Weakening" }, { "label": "Price momentum", "positive": false, "value": -0.111483, "read": "Negative" }, { "label": "Volume balance", "positive": false, "value": 0.497545, "read": "Supply-led" } ], "volume": { "latest": 127700, "relative_activity": 0.754929, "balance": 0.497545, "dry_up": 0.831043, "accumulation_observations": 0, "distribution_observations": 2 }, "risk": { "range_context": 0.036825, "annualized_volatility": 0.214402, "from_high_reference": -0.160109, "from_low_reference": 0.440992 }, "levels": { "trend_reference": 19.706, "fair_value_reference": 15.542064, "structural_low": 18.049999, "invalidation": "A decisive breakout above range resistance with renewed RS leadership invalidates the distribution reading; a range-low break confirms deterioration." }, "outcomes": [ { "horizon": "Near term", "sample_count": 20, "median_return": 0.026971, "positive_rate": 0.7, "directional_follow_through": 0.3, "median_excess_return": 0.001677, "regime_survival": 0.65, "best_return": 0.237972, "worst_return": -0.060032, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 8, "median_return": 0.034831, "positive_rate": 0.625, "directional_follow_through": 0.375, "median_excess_return": -0.044974, "regime_survival": 0.375, "best_return": 0.507982, "worst_return": -0.096446, "sufficient": true }, { "horizon": "Extended", "sample_count": 5, "median_return": 0.082376, "positive_rate": 0.6, "directional_follow_through": 0.4, "median_excess_return": -0.029846, "regime_survival": 0.0, "best_return": 0.50258, "worst_return": -0.075799, "sufficient": true }, { "horizon": "Full cycle", "sample_count": 3, "median_return": 0.047393, "positive_rate": 0.666667, "directional_follow_through": 0.333333, "median_excess_return": -0.129034, "regime_survival": 0.0, "best_return": 0.508143, "worst_return": -0.076286, "sufficient": false } ], "ledger": [ { "regime": "balance", "label": "Balance", "color": "blue", "start": "2024-09-27", "end": "2024-12-20", "tenure": "Established", "return": -0.098843, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2024-12-27", "end": "2025-03-28", "tenure": "Established", "return": 0.069182, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2025-04-04", "end": "2025-05-02", "tenure": "Developing", "return": 0.017887, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-05-09", "end": "2025-06-13", "tenure": "Developing", "return": -0.054142, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2025-06-20", "end": "2025-07-04", "tenure": "New", "return": 0.062802, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-07-11", "end": "2025-09-19", "tenure": "Developing", "return": 0.012987, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2025-09-26", "end": "2025-10-24", "tenure": "Developing", "return": 0.036059, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-10-31", "end": "2026-03-13", "tenure": "Established", "return": 0.290685, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2026-03-20", "end": "2026-04-17", "tenure": "Developing", "return": 0.132376, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-04-24", "end": "2026-05-15", "tenure": "New", "return": -0.044325, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-05-22", "end": "2026-06-05", "tenure": "New", "return": -0.046324, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2026-06-12", "end": "2026-06-19", "tenure": "New", "return": 0.002615, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2026-06-26", "end": "2026-07-17", "tenure": "New", "return": -0.041754, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2026-07-24", "end": "2026-08-07", "tenure": "New", "return": 0.002159, "active": true } ], "chart_path": [ { "date": "2023-08-18", "close": 14.220634, "volume": 433400, "typical_volume": 309435.0, "trend": 15.736187, "fair_value": 13.386068, "relative_strength": -13.324132, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -68.12972, "energy": 39.445112, "activity_lines": [ 14.724721, 14.816544, 14.904291, 15.191785 ] }, { "date": "2023-08-25", "close": 14.072648, "volume": 229000, "typical_volume": 310630.0, "trend": 15.575595, "fair_value": 13.434091, "relative_strength": -14.545987, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -72.22624, "energy": 61.748785, "activity_lines": [ 14.466335, 14.674709, 14.80569, 15.08446 ] }, { "date": "2023-09-01", "close": 15.404513, "volume": 370700, "typical_volume": 318460.0, "trend": 15.490693, "fair_value": 13.491673, "relative_strength": -8.202897, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -38.009931, "energy": 30.687859, "activity_lines": [ 14.710158, 14.791432, 14.842697, 15.073423 ] }, { "date": "2023-09-08", "close": 14.925322, "volume": 234100, "typical_volume": 324520.0, "trend": 15.4229, "fair_value": 13.545449, "relative_strength": -9.186962, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -46.793785, "energy": 28.657418, "activity_lines": [ 14.774989, 14.811163, 14.838914, 15.036947 ] }, { "date": "2023-09-15", "close": 15.193104, "volume": 519400, "typical_volume": 334125.0, "trend": 15.348386, "fair_value": 13.599994, "relative_strength": -10.318092, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -13.77101, "energy": 7.680668, "activity_lines": [ 14.949752, 14.876122, 14.866297, 15.022121 ] }, { "date": "2023-09-22", "close": 14.728008, "volume": 198200, "typical_volume": 330915.0, "trend": 15.28698, "fair_value": 13.652367, "relative_strength": -11.092034, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -30.05362, "energy": 18.366093, "activity_lines": [ 14.938006, 14.846525, 14.853444, 14.982097 ] }, { "date": "2023-09-29", "close": 14.763245, "volume": 213800, "typical_volume": 324370.0, "trend": 15.199702, "fair_value": 13.705168, "relative_strength": -11.299842, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -30.803437, "energy": 13.432968, "activity_lines": [ 14.904182, 14.829613, 14.845223, 14.948308 ] }, { "date": "2023-10-06", "close": 14.319289, "volume": 130200, "typical_volume": 310425.0, "trend": 15.128696, "fair_value": 13.753153, "relative_strength": -12.129393, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -53.560498, "energy": 25.020322, "activity_lines": [ 14.676332, 14.735312, 14.794485, 14.891507 ] }, { "date": "2023-10-13", "close": 14.199492, "volume": 163000, "typical_volume": 296840.0, "trend": 15.065097, "fair_value": 13.798402, "relative_strength": -13.992124, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -59.658654, "energy": 45.828564, "activity_lines": [ 14.480898, 14.633709, 14.735929, 14.831558 ] }, { "date": "2023-10-20", "close": 13.621647, "volume": 226800, "typical_volume": 290920.0, "trend": 14.994977, "fair_value": 13.840319, "relative_strength": -15.582197, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -71.287149, "energy": 63.346955, "activity_lines": [ 14.141238, 14.445877, 14.624185, 14.738432 ] }, { "date": "2023-10-27", "close": 14.150165, "volume": 257200, "typical_volume": 294780.0, "trend": 14.917887, "fair_value": 13.886752, "relative_strength": -12.474133, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -58.291874, "energy": 60.184825, "activity_lines": [ 14.082514, 14.374127, 14.567911, 14.683928 ] }, { "date": "2023-11-03", "close": 15.792091, "volume": 416300, "typical_volume": 294005.0, "trend": 14.913856, "fair_value": 13.940783, "relative_strength": -6.384242, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -12.370648, "energy": 9.88228, "activity_lines": [ 14.609622, 14.60219, 14.672373, 14.740329 ] }, { "date": "2023-11-10", "close": 15.925982, "volume": 583100, "typical_volume": 301860.0, "trend": 14.897301, "fair_value": 13.99364, "relative_strength": -7.389131, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 25.595406, "energy": 19.85259, "activity_lines": [ 15.11277, 14.823335, 14.785693, 14.805627 ] }, { "date": "2023-11-17", "close": 16.863218, "volume": 401500, "typical_volume": 305625.0, "trend": 14.922269, "fair_value": 14.049678, "relative_strength": -5.238441, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 79.262988, "energy": 67.260503, "activity_lines": [ 15.821218, 15.205405, 14.983208, 14.93246 ] }, { "date": "2023-11-24", "close": 16.803829, "volume": 852600, "typical_volume": 324950.0, "trend": 14.947537, "fair_value": 14.096335, "relative_strength": -5.760494, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 74.779395, "energy": 79.376816, "activity_lines": [ 16.332287, 15.541442, 15.164932, 15.053851 ] }, { "date": "2023-12-01", "close": 16.698334, "volume": 491100, "typical_volume": 328525.0, "trend": 15.004289, "fair_value": 14.140531, "relative_strength": -7.893593, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 69.524824, "energy": 82.826747, "activity_lines": [ 16.596046, 15.829012, 15.326321, 15.166806 ] }, { "date": "2023-12-08", "close": 16.668194, "volume": 420200, "typical_volume": 340095.0, "trend": 15.069431, "fair_value": 14.180422, "relative_strength": -6.916375, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 66.659014, "energy": 81.993133, "activity_lines": [ 16.679881, 16.075279, 15.477102, 15.274155 ] }, { "date": "2023-12-15", "close": 16.751081, "volume": 346200, "typical_volume": 344970.0, "trend": 15.125357, "fair_value": 14.220115, "relative_strength": -8.222302, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 66.803594, "energy": 79.851294, "activity_lines": [ 16.732937, 16.30198, 15.627578, 15.382648 ] }, { "date": "2023-12-22", "close": 17.48201, "volume": 256900, "typical_volume": 347905.0, "trend": 15.221855, "fair_value": 14.264794, "relative_strength": -5.712185, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 81.056055, "energy": 81.812031, "activity_lines": [ 16.97463, 16.617363, 15.839878, 15.53469 ] }, { "date": "2023-12-29", "close": 17.595041, "volume": 93500, "typical_volume": 341860.0, "trend": 15.318362, "fair_value": 14.311275, "relative_strength": -5.794752, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 78.736679, "energy": 81.31276, "activity_lines": [ 17.212747, 16.893615, 16.052245, 15.687799 ] }, { "date": "2024-01-05", "close": 17.278555, "volume": 154100, "typical_volume": 327895.0, "trend": 15.392106, "fair_value": 14.342706, "relative_strength": -5.499751, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 65.135835, "energy": 74.975214, "activity_lines": [ 17.292622, 17.04008, 16.220785, 15.814263 ] }, { "date": "2024-01-12", "close": 16.434597, "volume": 252500, "typical_volume": 329070.0, "trend": 15.44077, "fair_value": 14.374983, "relative_strength": -8.85457, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 61.666773, "energy": 53.904722, "activity_lines": [ 17.052495, 16.976219, 16.294385, 15.881521 ] }, { "date": "2024-01-19", "close": 15.869445, "volume": 380200, "typical_volume": 329545.0, "trend": 15.474355, "fair_value": 14.404449, "relative_strength": -9.112031, "stage": 1, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 43.237921, "energy": 33.848673, "activity_lines": [ 16.639558, 16.797921, 16.302915, 15.909177 ] }, { "date": "2024-01-26", "close": 16.389385, "volume": 298700, "typical_volume": 332775.0, "trend": 15.529499, "fair_value": 14.44597, "relative_strength": -6.566673, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 35.730041, "energy": 25.69219, "activity_lines": [ 16.45871, 16.715186, 16.358748, 15.968211 ] }, { "date": "2024-02-02", "close": 15.281689, "volume": 484600, "typical_volume": 331035.0, "trend": 15.550774, "fair_value": 14.479591, "relative_strength": -11.089155, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -0.295116, "energy": 23.048415, "activity_lines": [ 15.981471, 16.439666, 16.302115, 15.952224 ] }, { "date": "2024-02-09", "close": 15.439932, "volume": 417700, "typical_volume": 342010.0, "trend": 15.562995, "fair_value": 14.515639, "relative_strength": -10.298465, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -7.779909, "energy": 28.161258, "activity_lines": [ 15.711204, 16.220593, 16.260131, 15.945072 ] }, { "date": "2024-02-16", "close": 15.726274, "volume": 122400, "typical_volume": 337440.0, "trend": 15.588989, "fair_value": 14.550419, "relative_strength": -8.644551, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -0.065732, "energy": 24.6752, "activity_lines": [ 15.658959, 16.076462, 16.242028, 15.955607 ] }, { "date": "2024-02-23", "close": 15.485142, "volume": 292500, "typical_volume": 345555.0, "trend": 15.601307, "fair_value": 14.585622, "relative_strength": -10.050218, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -25.963754, "energy": 36.164648, "activity_lines": [ 15.573558, 15.905615, 16.196374, 15.948907 ] }, { "date": "2024-03-01", "close": 15.078235, "volume": 583000, "typical_volume": 366555.0, "trend": 15.596069, "fair_value": 14.615657, "relative_strength": -11.60487, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -34.430318, "energy": 52.071604, "activity_lines": [ 15.378141, 15.683802, 16.106414, 15.91516 ] }, { "date": "2024-03-08", "close": 15.033021, "volume": 393500, "typical_volume": 374890.0, "trend": 15.606471, "fair_value": 14.645599, "relative_strength": -9.87636, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -33.919064, "energy": 51.378493, "activity_lines": [ 15.255063, 15.497473, 16.007965, 15.878835 ] }, { "date": "2024-03-15", "close": 13.985607, "volume": 1157300, "typical_volume": 419895.0, "trend": 15.598636, "fair_value": 14.670866, "relative_strength": -15.347732, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -51.090282, "energy": 67.062641, "activity_lines": [ 14.799425, 15.167288, 15.803041, 15.774263 ] }, { "date": "2024-03-22", "close": 14.693931, "volume": 415500, "typical_volume": 419855.0, "trend": 15.619346, "fair_value": 14.699607, "relative_strength": -10.687557, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -36.861632, "energy": 62.162998, "activity_lines": [ 14.676851, 15.02576, 15.666359, 15.715895 ] }, { "date": "2024-03-29", "close": 15.040555, "volume": 319600, "typical_volume": 406680.0, "trend": 15.607214, "fair_value": 14.725705, "relative_strength": -8.752132, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -35.245067, "energy": 48.715373, "activity_lines": [ 14.73864, 14.978904, 15.567919, 15.678553 ] }, { "date": "2024-04-05", "close": 14.942597, "volume": 807000, "typical_volume": 426955.0, "trend": 15.60779, "fair_value": 14.744601, "relative_strength": -7.858467, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -32.602326, "energy": 37.91107, "activity_lines": [ 14.797416, 14.929307, 15.464366, 15.635675 ] }, { "date": "2024-04-12", "close": 15.033021, "volume": 553100, "typical_volume": 411980.0, "trend": 15.602454, "fair_value": 14.760032, "relative_strength": -6.179964, "stage": 4, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -53.426954, "energy": 35.290688, "activity_lines": [ 14.895375, 14.922457, 15.378571, 15.598593 ] }, { "date": "2024-04-19", "close": 15.274154, "volume": 325500, "typical_volume": 403700.0, "trend": 15.620659, "fair_value": 14.776645, "relative_strength": -3.577668, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -38.375985, "energy": 22.740912, "activity_lines": [ 15.073712, 14.96397, 15.324173, 15.577412 ] }, { "date": "2024-04-26", "close": 15.372113, "volume": 433400, "typical_volume": 404360.0, "trend": 15.640954, "fair_value": 14.795442, "relative_strength": -3.563536, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -33.862355, "energy": 20.006723, "activity_lines": [ 15.1988, 15.026308, 15.285886, 15.561377 ] }, { "date": "2024-05-03", "close": 15.506584, "volume": 525000, "typical_volume": 413300.0, "trend": 15.680531, "fair_value": 14.812378, "relative_strength": -3.899045, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -29.665479, "energy": 21.565528, "activity_lines": [ 15.323498, 15.119535, 15.266578, 15.552708 ] }, { "date": "2024-05-10", "close": 15.411255, "volume": 199400, "typical_volume": 410425.0, "trend": 15.720923, "fair_value": 14.831167, "relative_strength": -3.589734, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -26.630337, "energy": 21.017906, "activity_lines": [ 15.385352, 15.195039, 15.244117, 15.535335 ] }, { "date": "2024-05-17", "close": 15.395367, "volume": 360300, "typical_volume": 423765.0, "trend": 15.780047, "fair_value": 14.850372, "relative_strength": -3.867501, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -16.261183, "energy": 15.695662, "activity_lines": [ 15.410666, 15.2616, 15.230004, 15.514332 ] }, { "date": "2024-05-24", "close": 15.387425, "volume": 310300, "typical_volume": 431575.0, "trend": 15.821289, "fair_value": 14.870525, "relative_strength": -0.826962, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -15.533137, "energy": 14.011821, "activity_lines": [ 15.409176, 15.320128, 15.225609, 15.489001 ] }, { "date": "2024-05-31", "close": 14.791629, "volume": 321000, "typical_volume": 435000.0, "trend": 15.78794, "fair_value": 14.885588, "relative_strength": -2.801372, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -46.378532, "energy": 22.774158, "activity_lines": [ 15.201536, 15.244842, 15.173477, 15.422572 ] }, { "date": "2024-06-07", "close": 13.981346, "volume": 502600, "typical_volume": 441120.0, "trend": 15.723119, "fair_value": 14.895068, "relative_strength": -6.926941, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -75.424389, "energy": 59.043091, "activity_lines": [ 14.762501, 15.020456, 15.051999, 15.306017 ] }, { "date": "2024-06-14", "close": 13.941626, "volume": 256200, "typical_volume": 438995.0, "trend": 15.625732, "fair_value": 14.910154, "relative_strength": -6.195314, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -77.931203, "energy": 78.5372, "activity_lines": [ 14.411908, 14.808107, 14.935728, 15.191082 ] }, { "date": "2024-06-21", "close": 13.854243, "volume": 335400, "typical_volume": 431535.0, "trend": 15.527413, "fair_value": 14.9183, "relative_strength": -7.920013, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -76.580489, "energy": 85.202554, "activity_lines": [ 14.130163, 14.598069, 14.822792, 15.076793 ] }, { "date": "2024-06-28", "close": 14.259385, "volume": 530000, "typical_volume": 437150.0, "trend": 15.446115, "fair_value": 14.925802, "relative_strength": -7.050125, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -64.66447, "energy": 79.966465, "activity_lines": [ 14.086206, 14.483125, 14.755238, 14.994984 ] }, { "date": "2024-07-05", "close": 14.680413, "volume": 315200, "typical_volume": 446790.0, "trend": 15.379855, "fair_value": 14.93564, "relative_strength": -5.993556, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -61.666231, "energy": 65.095818, "activity_lines": [ 14.257795, 14.463182, 14.733403, 14.945584 ] }, { "date": "2024-07-12", "close": 14.688356, "volume": 455400, "typical_volume": 454935.0, "trend": 15.311098, "fair_value": 14.942362, "relative_strength": -7.659388, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -55.39286, "energy": 38.437204, "activity_lines": [ 14.439447, 14.45726, 14.717306, 14.900971 ] }, { "date": "2024-07-19", "close": 14.529479, "volume": 281500, "typical_volume": 439860.0, "trend": 15.21268, "fair_value": 14.948053, "relative_strength": -7.590452, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -39.227786, "energy": 22.601721, "activity_lines": [ 14.521005, 14.437329, 14.689871, 14.850544 ] }, { "date": "2024-07-26", "close": 14.164058, "volume": 314100, "typical_volume": 435890.0, "trend": 15.098314, "fair_value": 14.952258, "relative_strength": -9.620016, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -48.558369, "energy": 25.548756, "activity_lines": [ 14.441566, 14.366989, 14.630247, 14.782891 ] }, { "date": "2024-08-02", "close": 13.72714, "volume": 404500, "typical_volume": 398250.0, "trend": 14.979933, "fair_value": 14.955608, "relative_strength": -11.011612, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -72.241149, "energy": 43.480196, "activity_lines": [ 14.195833, 14.239597, 14.533151, 14.694428 ] }, { "date": "2024-08-09", "close": 13.806578, "volume": 252300, "typical_volume": 390090.0, "trend": 14.892333, "fair_value": 14.960053, "relative_strength": -13.5015, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -67.05207, "energy": 57.134847, "activity_lines": [ 14.012063, 14.156835, 14.44485, 14.618728 ] }, { "date": "2024-08-16", "close": 13.925739, "volume": 428800, "typical_volume": 395550.0, "trend": 14.827543, "fair_value": 14.973114, "relative_strength": -14.670412, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -60.703564, "energy": 62.15664, "activity_lines": [ 13.926268, 14.113649, 14.372124, 14.556367 ] }, { "date": "2024-08-23", "close": 13.981346, "volume": 790600, "typical_volume": 394730.0, "trend": 14.747275, "fair_value": 14.983836, "relative_strength": -15.128927, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -59.921285, "energy": 58.669875, "activity_lines": [ 13.909851, 14.081584, 14.310002, 14.501774 ] }, { "date": "2024-08-30", "close": 14.219664, "volume": 1490600, "typical_volume": 441605.0, "trend": 14.711874, "fair_value": 14.997516, "relative_strength": -13.57635, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -55.966846, "energy": 38.505304, "activity_lines": [ 14.009414, 14.092128, 14.275154, 14.467734 ] }, { "date": "2024-09-06", "close": 14.219664, "volume": 716600, "typical_volume": 461160.0, "trend": 14.671198, "fair_value": 15.014161, "relative_strength": -12.325462, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -41.160414, "energy": 25.558653, "activity_lines": [ 14.105271, 14.096028, 14.24418, 14.435979 ] }, { "date": "2024-09-13", "close": 14.21172, "volume": 479000, "typical_volume": 463440.0, "trend": 14.620713, "fair_value": 15.032253, "relative_strength": -12.259859, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -36.163373, "energy": 19.10988, "activity_lines": [ 14.165645, 14.099205, 14.21747, 14.406335 ] }, { "date": "2024-09-20", "close": 14.100506, "volume": 1804000, "typical_volume": 527390.0, "trend": 14.574559, "fair_value": 15.048124, "relative_strength": -10.132428, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -33.341047, "energy": 16.547218, "activity_lines": [ 14.161938, 14.090684, 14.185695, 14.372773 ] }, { "date": "2024-09-27", "close": 15.006116, "volume": 953700, "typical_volume": 565105.0, "trend": 14.572155, "fair_value": 15.070062, "relative_strength": -5.353679, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": 6.350057, "energy": 11.49602, "activity_lines": [ 14.44845, 14.257507, 14.246863, 14.400616 ] }, { "date": "2024-10-04", "close": 14.561255, "volume": 395600, "typical_volume": 566870.0, "trend": 14.556429, "fair_value": 15.088702, "relative_strength": -7.282929, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -7.28078, "energy": 13.775102, "activity_lines": [ 14.518357, 14.33478, 14.267593, 14.399913 ] }, { "date": "2024-10-11", "close": 14.330881, "volume": 369900, "typical_volume": 569850.0, "trend": 14.567938, "fair_value": 15.101484, "relative_strength": -7.300388, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -9.239192, "energy": 13.26475, "activity_lines": [ 14.4887, 14.362945, 14.270355, 14.385361 ] }, { "date": "2024-10-18", "close": 14.116394, "volume": 294400, "typical_volume": 568520.0, "trend": 14.548687, "fair_value": 15.117734, "relative_strength": -8.862646, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -17.544602, "energy": 13.998694, "activity_lines": [ 14.380133, 14.341135, 14.25772, 14.356229 ] }, { "date": "2024-10-25", "close": 14.283215, "volume": 233300, "typical_volume": 555055.0, "trend": 14.523442, "fair_value": 15.138957, "relative_strength": -7.130782, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -25.020627, "energy": 10.747276, "activity_lines": [ 14.333528, 14.344024, 14.264189, 14.339102 ] }, { "date": "2024-11-01", "close": 14.378544, "volume": 379700, "typical_volume": 561230.0, "trend": 14.504641, "fair_value": 15.165971, "relative_strength": -4.886986, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -24.145955, "energy": 12.685828, "activity_lines": [ 14.306519, 14.357745, 14.278299, 14.329754 ] }, { "date": "2024-11-08", "close": 14.362655, "volume": 454600, "typical_volume": 567190.0, "trend": 14.482295, "fair_value": 15.187949, "relative_strength": -4.469716, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -24.581112, "energy": 12.334568, "activity_lines": [ 14.316051, 14.361356, 14.288815, 14.320593 ] }, { "date": "2024-11-15", "close": 13.888223, "volume": 521800, "typical_volume": 566780.0, "trend": 14.436097, "fair_value": 15.20976, "relative_strength": -7.200895, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -40.696032, "energy": 19.712298, "activity_lines": [ 14.180679, 14.276106, 14.251726, 14.282266 ] }, { "date": "2024-11-22", "close": 13.896558, "volume": 303900, "typical_volume": 566215.0, "trend": 14.386912, "fair_value": 15.22749, "relative_strength": -7.706957, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -49.989236, "energy": 32.330765, "activity_lines": [ 14.077597, 14.198399, 14.217198, 14.247457 ] }, { "date": "2024-11-29", "close": 14.096627, "volume": 524500, "typical_volume": 569670.0, "trend": 14.339914, "fair_value": 15.242091, "relative_strength": -3.512778, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -42.554477, "energy": 30.657707, "activity_lines": [ 14.055859, 14.162797, 14.205458, 14.228729 ] }, { "date": "2024-12-06", "close": 13.796522, "volume": 319200, "typical_volume": 571555.0, "trend": 14.286089, "fair_value": 15.251986, "relative_strength": -5.437396, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -52.920142, "energy": 43.271439, "activity_lines": [ 13.946526, 14.072702, 14.167953, 14.193672 ] }, { "date": "2024-12-13", "close": 13.871549, "volume": 401300, "typical_volume": 575915.0, "trend": 14.235295, "fair_value": 15.25592, "relative_strength": -3.627893, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -50.439548, "energy": 39.8434, "activity_lines": [ 13.901004, 14.01824, 14.141085, 14.166927 ] }, { "date": "2024-12-20", "close": 13.522861, "volume": 453000, "typical_volume": 578340.0, "trend": 14.173143, "fair_value": 15.259373, "relative_strength": -3.78371, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -63.083029, "energy": 46.983476, "activity_lines": [ 13.771992, 13.912921, 14.0824, 14.120964 ] }, { "date": "2024-12-27", "close": 13.413193, "volume": 204800, "typical_volume": 575965.0, "trend": 14.127195, "fair_value": 15.262313, "relative_strength": -2.791187, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -68.104684, "energy": 61.700613, "activity_lines": [ 13.630782, 13.802353, 14.014244, 14.071935 ] }, { "date": "2025-01-03", "close": 12.95765, "volume": 210000, "typical_volume": 565025.0, "trend": 14.093072, "fair_value": 15.254784, "relative_strength": -4.371717, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -79.204374, "energy": 74.428868, "activity_lines": [ 13.369948, 13.621745, 13.904577, 13.99648 ] }, { "date": "2025-01-10", "close": 12.611776, "volume": 335100, "typical_volume": 542250.0, "trend": 14.048744, "fair_value": 15.244695, "relative_strength": -6.873981, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -85.627698, "energy": 85.449465, "activity_lines": [ 13.069755, 13.402352, 13.766579, 13.900913 ] }, { "date": "2025-01-17", "close": 13.244473, "volume": 446100, "typical_volume": 490025.0, "trend": 14.028418, "fair_value": 15.237137, "relative_strength": -4.736383, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -64.590214, "energy": 74.700749, "activity_lines": [ 13.059444, 13.330118, 13.695359, 13.849024 ] }, { "date": "2025-01-24", "close": 12.822675, "volume": 240300, "typical_volume": 466210.0, "trend": 13.980528, "fair_value": 15.224892, "relative_strength": -7.49323, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -70.470979, "energy": 76.179247, "activity_lines": [ 12.950339, 13.201524, 13.588612, 13.771234 ] }, { "date": "2025-01-31", "close": 12.98296, "volume": 340000, "typical_volume": 459260.0, "trend": 13.923946, "fair_value": 15.209861, "relative_strength": -8.808582, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -62.065362, "energy": 59.394737, "activity_lines": [ 12.941341, 13.121446, 13.503782, 13.706875 ] }, { "date": "2025-02-07", "close": 13.067318, "volume": 228500, "typical_volume": 380485.0, "trend": 13.869911, "fair_value": 15.187251, "relative_strength": -6.849664, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -58.237509, "energy": 44.704785, "activity_lines": [ 12.989145, 13.073317, 13.432838, 13.651609 ] }, { "date": "2025-02-14", "close": 13.193858, "volume": 165300, "typical_volume": 341065.0, "trend": 13.825391, "fair_value": 15.172619, "relative_strength": -8.286445, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -46.322178, "energy": 37.13648, "activity_lines": [ 13.071818, 13.066909, 13.378865, 13.607992 ] }, { "date": "2025-02-21", "close": 13.379449, "volume": 223100, "typical_volume": 332440.0, "trend": 13.799237, "fair_value": 15.157843, "relative_strength": -5.966002, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -39.556242, "energy": 25.921276, "activity_lines": [ 13.177548, 13.105203, 13.351198, 13.579222 ] }, { "date": "2025-02-28", "close": 13.117934, "volume": 245200, "typical_volume": 326205.0, "trend": 13.77893, "fair_value": 15.129609, "relative_strength": -4.391225, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -37.291351, "energy": 22.00076, "activity_lines": [ 13.187109, 13.104897, 13.304252, 13.535267 ] }, { "date": "2025-03-07", "close": 13.075755, "volume": 134200, "typical_volume": 318195.0, "trend": 13.754569, "fair_value": 15.101485, "relative_strength": -6.181249, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -38.00668, "energy": 21.662532, "activity_lines": [ 13.162926, 13.104283, 13.259064, 13.489901 ] }, { "date": "2025-03-14", "close": 13.480681, "volume": 343200, "typical_volume": 323690.0, "trend": 13.739734, "fair_value": 15.070734, "relative_strength": -6.12348, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -30.811653, "energy": 16.360722, "activity_lines": [ 13.267532, 13.183428, 13.257397, 13.472231 ] }, { "date": "2025-03-21", "close": 13.978403, "volume": 386400, "typical_volume": 324025.0, "trend": 13.739636, "fair_value": 15.046529, "relative_strength": -4.98441, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": 5.502076, "energy": 11.325842, "activity_lines": [ 13.510488, 13.343558, 13.306953, 13.487629 ] }, { "date": "2025-03-28", "close": 14.34115, "volume": 338400, "typical_volume": 318215.0, "trend": 13.743685, "fair_value": 15.023429, "relative_strength": -2.044194, "stage": 1, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "mixed", "direction": 35.308362, "energy": 33.193195, "activity_lines": [ 13.822057, 13.544794, 13.392962, 13.526436 ] }, { "date": "2025-04-04", "close": 13.480681, "volume": 409400, "typical_volume": 312595.0, "trend": 13.719053, "fair_value": 14.999617, "relative_strength": -4.362412, "stage": 1, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 15.711698, "energy": 25.258108, "activity_lines": [ 13.782689, 13.569642, 13.397124, 13.509468 ] }, { "date": "2025-04-11", "close": 13.936225, "volume": 492300, "typical_volume": 322015.0, "trend": 13.70987, "fair_value": 14.978916, "relative_strength": -1.285427, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 20.406594, "energy": 32.025755, "activity_lines": [ 13.870986, 13.665352, 13.446612, 13.523479 ] }, { "date": "2025-04-18", "close": 13.834992, "volume": 211500, "typical_volume": 306365.0, "trend": 13.701019, "fair_value": 14.967594, "relative_strength": -3.231481, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 17.931017, "energy": 31.39467, "activity_lines": [ 13.868174, 13.725324, 13.486269, 13.531551 ] }, { "date": "2025-04-25", "close": 14.062763, "volume": 658000, "typical_volume": 323305.0, "trend": 13.669574, "fair_value": 14.955139, "relative_strength": -5.069919, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 21.572511, "energy": 18.909786, "activity_lines": [ 13.917665, 13.812752, 13.548865, 13.55489 ] }, { "date": "2025-05-02", "close": 13.72181, "volume": 308700, "typical_volume": 318675.0, "trend": 13.641592, "fair_value": 14.945197, "relative_strength": -7.3323, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 22.875876, "energy": 18.258179, "activity_lines": [ 13.847881, 13.822389, 13.577722, 13.55826 ] }, { "date": "2025-05-09", "close": 13.615233, "volume": 183000, "typical_volume": 305175.0, "trend": 13.617738, "fair_value": 14.935015, "relative_strength": -8.642843, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 9.812076, "energy": 9.674887, "activity_lines": [ 13.78386, 13.806425, 13.597141, 13.556559 ] }, { "date": "2025-05-16", "close": 13.988254, "volume": 453000, "typical_volume": 317585.0, "trend": 13.613466, "fair_value": 14.924082, "relative_strength": -7.624275, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 16.733902, "energy": 13.035123, "activity_lines": [ 13.83521, 13.84924, 13.651646, 13.580464 ] }, { "date": "2025-05-23", "close": 13.446486, "volume": 354100, "typical_volume": 324790.0, "trend": 13.585575, "fair_value": 14.907945, "relative_strength": -9.906224, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -0.453551, "energy": 4.516006, "activity_lines": [ 13.702502, 13.776961, 13.651816, 13.569691 ] }, { "date": "2025-05-30", "close": 13.046822, "volume": 443300, "typical_volume": 330200.0, "trend": 13.541185, "fair_value": 14.884857, "relative_strength": -11.668819, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -18.258811, "energy": 15.239475, "activity_lines": [ 13.462473, 13.632638, 13.611595, 13.534932 ] }, { "date": "2025-06-06", "close": 13.091228, "volume": 314700, "typical_volume": 323630.0, "trend": 13.498804, "fair_value": 14.866483, "relative_strength": -10.452925, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -18.645997, "energy": 20.794157, "activity_lines": [ 13.304975, 13.513326, 13.573531, 13.505903 ] }, { "date": "2025-06-13", "close": 12.878076, "volume": 295700, "typical_volume": 326400.0, "trend": 13.465132, "fair_value": 14.854636, "relative_strength": -12.268365, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -27.187473, "energy": 39.955594, "activity_lines": [ 13.118466, 13.377986, 13.515897, 13.465856 ] }, { "date": "2025-06-20", "close": 12.869194, "volume": 322500, "typical_volume": 325525.0, "trend": 13.430887, "fair_value": 14.845792, "relative_strength": -11.945211, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -35.002984, "energy": 51.044988, "activity_lines": [ 12.978139, 13.251987, 13.457153, 13.427408 ] }, { "date": "2025-06-27", "close": 12.958008, "volume": 319400, "typical_volume": 330070.0, "trend": 13.392933, "fair_value": 14.83925, "relative_strength": -10.847359, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -22.539136, "energy": 45.136577, "activity_lines": [ 12.942021, 13.161536, 13.40741, 13.3969 ] }, { "date": "2025-07-04", "close": 13.677403, "volume": 197300, "typical_volume": 331670.0, "trend": 13.388962, "fair_value": 14.836192, "relative_strength": -8.641354, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -4.344465, "energy": 13.79242, "activity_lines": [ 13.178267, 13.21783, 13.426701, 13.415253 ] }, { "date": "2025-07-11", "close": 13.677403, "volume": 183300, "typical_volume": 329680.0, "trend": 13.38249, "fair_value": 14.843484, "relative_strength": -4.85816, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 14.404276, "energy": 8.417383, "activity_lines": [ 13.372474, 13.28113, 13.443689, 13.433862 ] }, { "date": "2025-07-18", "close": 13.313265, "volume": 112000, "typical_volume": 323020.0, "trend": 13.375504, "fair_value": 14.846549, "relative_strength": -5.201127, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 0.015676, "energy": 8.517841, "activity_lines": [ 13.406224, 13.279031, 13.424578, 13.429396 ] }, { "date": "2025-07-25", "close": 13.366553, "volume": 303600, "typical_volume": 331490.0, "trend": 13.373949, "fair_value": 14.849794, "relative_strength": -4.731643, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 3.665746, "energy": 12.748221, "activity_lines": [ 13.428723, 13.292111, 13.409613, 13.428818 ] }, { "date": "2025-08-01", "close": 12.869194, "volume": 236800, "typical_volume": 326170.0, "trend": 13.371001, "fair_value": 14.850213, "relative_strength": -7.321831, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -18.108748, "energy": 9.435302, "activity_lines": [ 13.252279, 13.226065, 13.345895, 13.396254 ] }, { "date": "2025-08-08", "close": 13.144518, "volume": 159400, "typical_volume": 314820.0, "trend": 13.388759, "fair_value": 14.848411, "relative_strength": -7.607669, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -45.069927, "energy": 29.045115, "activity_lines": [ 13.173531, 13.220575, 13.31131, 13.381642 ] }, { "date": "2025-08-15", "close": 12.97577, "volume": 153000, "typical_volume": 305550.0, "trend": 13.379802, "fair_value": 14.846211, "relative_strength": -8.93307, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -52.996674, "energy": 41.247726, "activity_lines": [ 13.074058, 13.182627, 13.264625, 13.354997 ] }, { "date": "2025-08-22", "close": 13.180043, "volume": 129000, "typical_volume": 291530.0, "trend": 13.391714, "fair_value": 14.843428, "relative_strength": -8.462722, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -49.777013, "energy": 40.073903, "activity_lines": [ 13.089453, 13.183919, 13.243896, 13.34211 ] }, { "date": "2025-08-29", "close": 13.428723, "volume": 145200, "typical_volume": 274175.0, "trend": 13.406573, "fair_value": 14.843125, "relative_strength": -8.852221, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -39.137698, "energy": 19.257031, "activity_lines": [ 13.196622, 13.224935, 13.248283, 13.344497 ] }, { "date": "2025-09-05", "close": 13.615233, "volume": 195100, "typical_volume": 273355.0, "trend": 13.424837, "fair_value": 14.844179, "relative_strength": -8.202315, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -7.131852, "energy": 6.56328, "activity_lines": [ 13.361816, 13.289688, 13.27285, 13.357959 ] }, { "date": "2025-09-12", "close": 13.730692, "volume": 117000, "typical_volume": 246305.0, "trend": 13.442731, "fair_value": 14.847141, "relative_strength": -7.032166, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 17.640126, "energy": 18.309971, "activity_lines": [ 13.515761, 13.363485, 13.309458, 13.377692 ] }, { "date": "2025-09-19", "close": 13.855032, "volume": 147300, "typical_volume": 238235.0, "trend": 13.458584, "fair_value": 14.850336, "relative_strength": -8.28699, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 23.552032, "energy": 29.30962, "activity_lines": [ 13.672074, 13.45892, 13.35949, 13.404292 ] }, { "date": "2025-09-26", "close": 13.792862, "volume": 169100, "typical_volume": 237540.0, "trend": 13.481082, "fair_value": 14.849145, "relative_strength": -8.125193, "stage": 1, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 22.112899, "energy": 39.63397, "activity_lines": [ 13.749047, 13.539822, 13.402967, 13.425858 ] }, { "date": "2025-10-03", "close": 13.908321, "volume": 147300, "typical_volume": 222255.0, "trend": 13.508834, "fair_value": 14.842654, "relative_strength": -6.310606, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 36.208905, "energy": 50.049236, "activity_lines": [ 13.823651, 13.632996, 13.456594, 13.453422 ] }, { "date": "2025-10-10", "close": 13.855032, "volume": 206100, "typical_volume": 214855.0, "trend": 13.521312, "fair_value": 14.839325, "relative_strength": -4.123069, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 32.492412, "energy": 44.636763, "activity_lines": [ 13.848519, 13.706631, 13.505527, 13.475757 ] }, { "date": "2025-10-17", "close": 13.97049, "volume": 131000, "typical_volume": 199240.0, "trend": 13.521049, "fair_value": 14.835326, "relative_strength": -4.965944, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 35.989916, "energy": 41.628016, "activity_lines": [ 13.895886, 13.783335, 13.56351, 13.504737 ] }, { "date": "2025-10-24", "close": 14.290223, "volume": 145500, "typical_volume": 190780.0, "trend": 13.519351, "fair_value": 14.838613, "relative_strength": -4.416376, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "up", "direction": 73.912033, "energy": 62.588598, "activity_lines": [ 14.033845, 13.903153, 13.647545, 13.554361 ] }, { "date": "2025-10-31", "close": 15.054027, "volume": 186600, "typical_volume": 185325.0, "trend": 13.571796, "fair_value": 14.836848, "relative_strength": -1.360979, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 89.85003, "energy": 83.213286, "activity_lines": [ 14.397392, 14.137946, 13.798614, 13.653372 ] }, { "date": "2025-11-07", "close": 15.062906, "volume": 236600, "typical_volume": 181030.0, "trend": 13.609352, "fair_value": 14.830385, "relative_strength": -3.936945, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 84.136956, "energy": 87.31033, "activity_lines": [ 14.679821, 14.340281, 13.940167, 13.749573 ] }, { "date": "2025-11-14", "close": 15.019756, "volume": 525400, "typical_volume": 191330.0, "trend": 13.648844, "fair_value": 14.823219, "relative_strength": -6.205264, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 75.390377, "energy": 87.128943, "activity_lines": [ 14.870895, 14.505058, 14.067164, 13.840567 ] }, { "date": "2025-11-21", "close": 15.307348, "volume": 182900, "typical_volume": 190610.0, "trend": 13.69033, "fair_value": 14.818366, "relative_strength": -2.41445, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 79.344051, "energy": 90.935089, "activity_lines": [ 15.080184, 14.696588, 14.211733, 13.947567 ] }, { "date": "2025-11-28", "close": 16.151571, "volume": 215100, "typical_volume": 192200.0, "trend": 13.771322, "fair_value": 14.809353, "relative_strength": 0.385463, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 91.736596, "energy": 94.901953, "activity_lines": [ 15.481757, 15.012947, 14.428943, 14.106357 ] }, { "date": "2025-12-05", "close": 16.559769, "volume": 457800, "typical_volume": 209490.0, "trend": 13.869473, "fair_value": 14.802402, "relative_strength": 4.121704, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 91.487138, "energy": 95.287727, "activity_lines": [ 15.895306, 15.361768, 14.673247, 14.286256 ] }, { "date": "2025-12-12", "close": 17.097845, "volume": 284300, "typical_volume": 208525.0, "trend": 13.973126, "fair_value": 14.802959, "relative_strength": 5.332863, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 92.381412, "energy": 96.567088, "activity_lines": [ 16.387831, 15.758113, 14.953337, 14.494538 ] }, { "date": "2025-12-19", "close": 17.809999, "volume": 736200, "typical_volume": 233495.0, "trend": 14.118577, "fair_value": 14.805517, "relative_strength": 11.273091, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 93.706184, "energy": 97.419581, "activity_lines": [ 16.982078, 16.22595, 15.283482, 14.742079 ] }, { "date": "2025-12-26", "close": 18.299999, "volume": 128100, "typical_volume": 231930.0, "trend": 14.293683, "fair_value": 14.812909, "relative_strength": 12.564613, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 92.155818, "energy": 97.014876, "activity_lines": [ 17.553642, 16.710969, 15.636767, 15.011848 ] }, { "date": "2026-01-02", "close": 18.08, "volume": 277800, "typical_volume": 238170.0, "trend": 14.459975, "fair_value": 14.812141, "relative_strength": 11.389343, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 77.913262, "energy": 91.580871, "activity_lines": [ 17.852363, 17.07727, 15.94455, 15.256126 ] }, { "date": "2026-01-09", "close": 18.26, "volume": 345300, "typical_volume": 248985.0, "trend": 14.639373, "fair_value": 14.809046, "relative_strength": 10.429943, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 75.919708, "energy": 86.33081, "activity_lines": [ 18.082523, 17.407394, 16.24517, 15.501289 ] }, { "date": "2026-01-16", "close": 19.41, "volume": 298700, "typical_volume": 256660.0, "trend": 14.8574, "fair_value": 14.811904, "relative_strength": 16.155873, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 90.55689, "energy": 76.101789, "activity_lines": [ 18.582666, 17.888317, 16.631123, 15.809072 ] }, { "date": "2026-01-23", "close": 21.09, "volume": 463500, "typical_volume": 270080.0, "trend": 15.128466, "fair_value": 14.826004, "relative_strength": 15.998731, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 96.434662, "energy": 78.134158, "activity_lines": [ 19.488667, 18.595658, 17.148594, 16.211175 ] }, { "date": "2026-01-30", "close": 20.77, "volume": 588700, "typical_volume": 293665.0, "trend": 15.364886, "fair_value": 14.844071, "relative_strength": 12.414283, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 85.577167, "energy": 74.436169, "activity_lines": [ 20.069333, 19.134448, 17.599994, 16.575145 ] }, { "date": "2026-02-06", "close": 20.9, "volume": 540400, "typical_volume": 313320.0, "trend": 15.605639, "fair_value": 14.869333, "relative_strength": 11.939043, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 78.496753, "energy": 72.047693, "activity_lines": [ 20.528667, 19.597554, 18.030255, 16.932249 ] }, { "date": "2026-02-13", "close": 20.49, "volume": 537800, "typical_volume": 331755.0, "trend": 15.844864, "fair_value": 14.888958, "relative_strength": 7.533388, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 68.208864, "energy": 68.072352, "activity_lines": [ 20.663333, 19.899779, 18.387921, 17.247369 ] }, { "date": "2026-02-20", "close": 20.27, "volume": 297700, "typical_volume": 339275.0, "trend": 16.074978, "fair_value": 14.912675, "relative_strength": 4.084093, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 66.035038, "energy": 65.725836, "activity_lines": [ 20.576, 20.090545, 18.692744, 17.532862 ] }, { "date": "2026-02-27", "close": 21.389999, "volume": 391900, "typical_volume": 348565.0, "trend": 16.359005, "fair_value": 14.938369, "relative_strength": 10.716611, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 77.183702, "energy": 68.415099, "activity_lines": [ 20.804666, 20.427273, 19.073939, 17.875766 ] }, { "date": "2026-03-06", "close": 19.459999, "volume": 430600, "typical_volume": 363545.0, "trend": 16.569521, "fair_value": 14.957668, "relative_strength": 5.939923, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 60.771168, "energy": 53.530202, "activity_lines": [ 20.369999, 20.348, 19.235444, 18.07583 ] }, { "date": "2026-03-13", "close": 19.43, "volume": 345400, "typical_volume": 373540.0, "trend": 16.784662, "fair_value": 14.978966, "relative_strength": 6.699093, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 46.615342, "energy": 40.072924, "activity_lines": [ 20.012666, 20.242182, 19.367952, 18.260377 ] }, { "date": "2026-03-20", "close": 18.809999, "volume": 235100, "typical_volume": 375965.0, "trend": 16.972327, "fair_value": 14.99874, "relative_strength": 4.11305, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 39.635812, "energy": 27.896808, "activity_lines": [ 19.546666, 19.99909, 19.416936, 18.391044 ] }, { "date": "2026-03-27", "close": 19.52, "volume": 193200, "typical_volume": 373795.0, "trend": 17.17537, "fair_value": 15.018337, "relative_strength": 4.890132, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 33.803438, "energy": 25.594321, "activity_lines": [ 19.429333, 19.875091, 19.515654, 18.55541 ] }, { "date": "2026-04-03", "close": 19.99, "volume": 252500, "typical_volume": 360150.0, "trend": 17.387862, "fair_value": 15.044472, "relative_strength": 3.69857, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 38.204782, "energy": 22.775625, "activity_lines": [ 19.518666, 19.834545, 19.63791, 18.736999 ] }, { "date": "2026-04-10", "close": 20.77, "volume": 301800, "typical_volume": 366095.0, "trend": 17.622506, "fair_value": 15.072339, "relative_strength": 2.757027, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 61.907168, "energy": 33.020004, "activity_lines": [ 19.961333, 19.955818, 19.810784, 18.955202 ] }, { "date": "2026-04-17", "close": 21.299999, "volume": 347200, "typical_volume": 372700.0, "trend": 17.870671, "fair_value": 15.105582, "relative_strength": 6.193072, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 69.735557, "energy": 47.076415, "activity_lines": [ 20.493333, 20.173454, 20.008121, 19.192459 ] }, { "date": "2026-04-24", "close": 20.530001, "volume": 212800, "typical_volume": 360450.0, "trend": 18.095243, "fair_value": 15.134327, "relative_strength": 4.967064, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 56.892936, "energy": 48.320284, "activity_lines": [ 20.644, 20.243818, 20.107609, 19.364029 ] }, { "date": "2026-05-01", "close": 19.76, "volume": 268000, "typical_volume": 359635.0, "trend": 18.290299, "fair_value": 15.164867, "relative_strength": 2.802415, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 54.100044, "energy": 40.58669, "activity_lines": [ 20.423333, 20.173454, 20.114857, 19.471433 ] }, { "date": "2026-05-08", "close": 19.860001, "volume": 251800, "typical_volume": 335415.0, "trend": 18.490464, "fair_value": 15.197854, "relative_strength": 4.964124, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 49.30839, "energy": 31.156863, "activity_lines": [ 20.22, 20.130546, 20.118952, 19.572704 ] }, { "date": "2026-05-15", "close": 19.620001, "volume": 266800, "typical_volume": 342350.0, "trend": 18.678781, "fair_value": 15.227, "relative_strength": 7.482571, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 20.6617, "energy": 11.50668, "activity_lines": [ 19.945334, 20.071819, 20.090429, 19.645577 ] }, { "date": "2026-05-22", "close": 19.860001, "volume": 167200, "typical_volume": 336820.0, "trend": 18.864441, "fair_value": 15.260801, "relative_strength": 9.15174, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 16.485419, "energy": 13.067394, "activity_lines": [ 19.827334, 20.053819, 20.078476, 19.721785 ] }, { "date": "2026-05-29", "close": 19.68, "volume": 157300, "typical_volume": 327420.0, "trend": 19.01864, "fair_value": 15.292725, "relative_strength": 9.302861, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 11.023105, "energy": 10.833677, "activity_lines": [ 19.745334, 19.995273, 20.040905, 19.774401 ] }, { "date": "2026-06-05", "close": 18.940001, "volume": 57600, "typical_volume": 315365.0, "trend": 19.147876, "fair_value": 15.317556, "relative_strength": 7.843287, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": -6.968619, "energy": 15.096572, "activity_lines": [ 19.473334, 19.786364, 19.926095, 19.769328 ] }, { "date": "2026-06-12", "close": 19.120001, "volume": 26700, "typical_volume": 293525.0, "trend": 19.284551, "fair_value": 15.344129, "relative_strength": 7.168888, "stage": 2, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "up", "direction": -3.581397, "energy": 23.595261, "activity_lines": [ 19.316001, 19.620728, 19.830667, 19.76753 ] }, { "date": "2026-06-19", "close": 19.17, "volume": 22000, "typical_volume": 265190.0, "trend": 19.413306, "fair_value": 15.371745, "relative_strength": 8.680783, "stage": 2, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -31.031224, "energy": 41.274966, "activity_lines": [ 19.224667, 19.480001, 19.749381, 19.760139 ] }, { "date": "2026-06-26", "close": 19.16, "volume": 21100, "typical_volume": 239225.0, "trend": 19.513587, "fair_value": 15.40011, "relative_strength": 5.358524, "stage": 2, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -31.171103, "energy": 46.766611, "activity_lines": [ 19.16, 19.366546, 19.674762, 19.743797 ] }, { "date": "2026-07-03", "close": 19.209999, "volume": 25700, "typical_volume": 213620.0, "trend": 19.601928, "fair_value": 15.429383, "relative_strength": 4.784521, "stage": 2, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -30.106486, "energy": 39.593016, "activity_lines": [ 19.158667, 19.301091, 19.613191, 19.724211 ] }, { "date": "2026-07-10", "close": 18.610001, "volume": 249100, "typical_volume": 211190.0, "trend": 19.652333, "fair_value": 15.452054, "relative_strength": -0.619143, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -43.670194, "energy": 48.492493, "activity_lines": [ 18.988667, 19.150546, 19.500572, 19.660215 ] }, { "date": "2026-07-17", "close": 18.360001, "volume": 159300, "typical_volume": 199560.0, "trend": 19.670667, "fair_value": 15.473936, "relative_strength": 0.28157, "stage": 3, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -73.603261, "energy": 66.354947, "activity_lines": [ 18.757334, 18.975455, 19.372048, 19.576839 ] }, { "date": "2026-07-24", "close": 18.530001, "volume": 139500, "typical_volume": 185005.0, "trend": 19.678333, "fair_value": 15.495823, "relative_strength": 0.90222, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -65.581838, "energy": 66.005241, "activity_lines": [ 18.633334, 18.858546, 19.274143, 19.503248 ] }, { "date": "2026-07-31", "close": 18.6, "volume": 135800, "typical_volume": 174525.0, "trend": 19.695667, "fair_value": 15.517391, "relative_strength": -1.10018, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -61.410347, "energy": 66.356833, "activity_lines": [ 18.575334, 18.774182, 19.187334, 19.433678 ] }, { "date": "2026-08-07", "close": 18.57, "volume": 127700, "typical_volume": 169155.0, "trend": 19.706, "fair_value": 15.542064, "relative_strength": 1.677995, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -59.02185, "energy": 58.220752, "activity_lines": [ 18.544667, 18.707273, 19.101619, 19.361054 ] } ], "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." } } }