{ "ticker": { "uuid": "8902787b-d38b-4118-9f24-c84d609b3c5f", "symbol": "JBGS", "name": "JBG SMITH Properties", "exchange": "NYSE", "country": "US", "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": "SPY", "stage": 4, "stage_name": "Declining", "phase": "4b", "phase_label": "Stage 4B \u00b7 Declining", "transition": "stage_4_declining", "transition_label": "Stage 4 decline intact", "confidence": 96.0, "architecture_regime": "balance", "architecture_regime_label": "Balance", "architecture_modifier": "Balance after decline", "architecture_gate": "down", "architecture_direction": -80.527, "architecture_energy": 69.418, "architecture_maturity": 27.051, "architecture_confidence": 82.47, "architecture_tenure": "Developing", "architecture": { "interpretation": { "headline": "Directional pressure has compressed into balance.", "body": "Trend and Activity are compressed into balance, so neither side has durable control. Prior structure and the next directional change provide context; balance alone is not assumed to be a base." }, "scores": { "balance": 39.22, "rotation_up": 12.76, "upward_expansion": 16.2, "deceleration": 34.6, "rotation_down": 71.96, "downward_expansion": 87.2 }, "activity_lines": [ 13.657333, 14.176909, 14.453235, 14.606186 ], "activity_state": "Moderate", "activity_direction": "Expanding", "rotation_direction": "Weakening", "price_acceptance": -0.5 }, "latest_close": 12.16, "trend_reference": 14.977805, "distance_from_trend": -0.188132, "trend_direction": "Weakening", "fair_value": 15.474775, "distance_from_fair_value": -0.214205, "fair_value_direction": "Weakening", "relative_strength": -35.702788, "relative_strength_direction": "Weakening", "price_momentum": -0.260081, "excess_performance": -0.385705, "evidence": [ { "label": "Price vs Trend", "positive": false, "value": -0.188132, "read": "Below" }, { "label": "Trend direction", "positive": false, "value": -0.058708, "read": "Falling" }, { "label": "Price vs current Fair Value", "positive": false, "value": -0.214205, "read": "Below anchor" }, { "label": "Fair Value direction", "positive": false, "value": -0.213747, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.357028, "read": "Lagging" }, { "label": "Relative strength direction", "positive": false, "value": -0.136532, "read": "Weakening" }, { "label": "Price momentum", "positive": false, "value": -0.260081, "read": "Negative" }, { "label": "Volume balance", "positive": false, "value": 0.670251, "read": "Supply-led" } ], "volume": { "latest": 6987752, "relative_activity": 2.389211, "balance": 0.670251, "dry_up": 1.213246, "accumulation_observations": 1, "distribution_observations": 2 }, "risk": { "range_context": 0.090023, "annualized_volatility": 0.339714, "from_high_reference": -0.483493, "from_low_reference": 0.074205 }, "levels": { "trend_reference": 14.977805, "fair_value_reference": 15.474775, "structural_low": 11.32, "invalidation": "Reclaiming a flat-to-rising Trend with improving relative strength is required before the declining diagnosis is repaired." }, "outcomes": [ { "horizon": "Near term", "sample_count": 16, "median_return": -0.038174, "positive_rate": 0.25, "directional_follow_through": 0.25, "median_excess_return": -0.023555, "regime_survival": 0.4375, "best_return": 0.13839, "worst_return": -0.20831, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 8, "median_return": -0.052549, "positive_rate": 0.375, "directional_follow_through": 0.375, "median_excess_return": -0.033017, "regime_survival": 0.25, "best_return": 0.226896, "worst_return": -0.282915, "sufficient": true }, { "horizon": "Extended", "sample_count": 6, "median_return": 0.008252, "positive_rate": 0.5, "directional_follow_through": 0.5, "median_excess_return": -0.028224, "regime_survival": 0.166667, "best_return": 0.401995, "worst_return": -0.174878, "sufficient": true }, { "horizon": "Full cycle", "sample_count": 4, "median_return": -0.073575, "positive_rate": 0.25, "directional_follow_through": 0.25, "median_excess_return": -0.238594, "regime_survival": 0.25, "best_return": 0.040238, "worst_return": -0.234389, "sufficient": false } ], "ledger": [ { "regime": "balance", "label": "Balance", "color": "blue", "start": "2024-04-05", "end": "2024-04-19", "tenure": "New", "return": -0.033854, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2024-04-26", "end": "2024-05-31", "tenure": "Developing", "return": -0.036872, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2024-06-07", "end": "2024-07-12", "tenure": "Developing", "return": 0.150345, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2024-07-19", "end": "2024-08-23", "tenure": "Developing", "return": 0.095409, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2024-08-30", "end": "2024-11-01", "tenure": "Developing", "return": -0.035632, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2024-11-08", "end": "2024-12-27", "tenure": "Developing", "return": -0.124713, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2025-01-03", "end": "2025-01-17", "tenure": "New", "return": -0.008997, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-01-24", "end": "2025-03-21", "tenure": "Developing", "return": 0.015132, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-03-28", "end": "2025-05-30", "tenure": "Developing", "return": 0.086162, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-06-06", "end": "2025-10-10", "tenure": "Established", "return": 0.134182, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2025-10-17", "end": "2025-11-21", "tenure": "Developing", "return": -0.12143, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2025-11-28", "end": "2026-01-02", "tenure": "Developing", "return": -0.074536, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2026-01-09", "end": "2026-06-26", "tenure": "Established", "return": -0.115535, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-07-03", "end": "2026-08-07", "tenure": "Developing", "return": -0.213963, "active": true } ], "chart_path": [ { "date": "2023-08-18", "close": 12.560903, "volume": 9044141, "typical_volume": 8860449.6, "trend": 13.556916, "fair_value": 20.639087, "relative_strength": -22.696685, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": -1.247089, "energy": 10.174438, "activity_lines": [ 13.66568, 13.70841, 13.329902, 13.232704 ] }, { "date": "2023-08-25", "close": 12.923577, "volume": 7820765, "typical_volume": 8986790.75, "trend": 13.418984, "fair_value": 20.581655, "relative_strength": -20.351013, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -3.767871, "energy": 9.778147, "activity_lines": [ 13.335486, 13.596429, 13.322604, 13.191844 ] }, { "date": "2023-09-01", "close": 14.135438, "volume": 7640235, "typical_volume": 8887971.0, "trend": 13.31716, "fair_value": 20.532293, "relative_strength": -14.346412, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 12.578293, "energy": 15.625867, "activity_lines": [ 13.482595, 13.709095, 13.430218, 13.238067 ] }, { "date": "2023-09-08", "close": 13.84353, "volume": 6371860, "typical_volume": 8798074.9, "trend": 13.216752, "fair_value": 20.487656, "relative_strength": -14.344466, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 33.415067, "energy": 21.952616, "activity_lines": [ 13.560963, 13.726748, 13.498815, 13.272026 ] }, { "date": "2023-09-15", "close": 13.427782, "volume": 6690983, "typical_volume": 8562119.65, "trend": 13.129064, "fair_value": 20.440001, "relative_strength": -16.032449, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 31.152171, "energy": 15.031098, "activity_lines": [ 13.55516, 13.6553, 13.518073, 13.285641 ] }, { "date": "2023-09-22", "close": 12.322069, "volume": 6239443, "typical_volume": 8329374.15, "trend": 13.030812, "fair_value": 20.38687, "relative_strength": -19.90771, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": -4.158275, "energy": 5.180366, "activity_lines": [ 13.203101, 13.387158, 13.426343, 13.233577 ] }, { "date": "2023-09-29", "close": 12.790891, "volume": 6888916, "typical_volume": 8212490.3, "trend": 12.998199, "fair_value": 20.329796, "relative_strength": -15.63892, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 3.311542, "energy": 12.73432, "activity_lines": [ 13.023238, 13.235989, 13.380235, 13.218098 ] }, { "date": "2023-10-06", "close": 12.366297, "volume": 7221052, "typical_volume": 8085043.55, "trend": 12.969724, "fair_value": 20.27, "relative_strength": -18.261385, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -23.211462, "energy": 33.02437, "activity_lines": [ 12.71069, 13.030038, 13.293203, 13.17733 ] }, { "date": "2023-10-13", "close": 12.437063, "volume": 5690399, "typical_volume": 7852421.4, "trend": 12.975045, "fair_value": 20.218965, "relative_strength": -17.505304, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -22.07919, "energy": 41.650404, "activity_lines": [ 12.539673, 12.87691, 13.216, 13.142965 ] }, { "date": "2023-10-20", "close": 12.065543, "volume": 5966002, "typical_volume": 7718632.15, "trend": 12.974268, "fair_value": 20.166154, "relative_strength": -17.341631, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -29.021742, "energy": 47.454837, "activity_lines": [ 12.338581, 12.696644, 13.101755, 13.084287 ] }, { "date": "2023-10-27", "close": 11.357887, "volume": 5837644, "typical_volume": 7462361.85, "trend": 12.922468, "fair_value": 20.121393, "relative_strength": -19.494412, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -49.748899, "energy": 59.916392, "activity_lines": [ 11.992419, 12.418567, 12.922307, 12.980004 ] }, { "date": "2023-11-03", "close": 12.507828, "volume": 6460119, "typical_volume": 7380853.1, "trend": 12.912143, "fair_value": 20.082241, "relative_strength": -15.554103, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -31.474782, "energy": 39.409866, "activity_lines": [ 12.093849, 12.371444, 12.86084, 12.953253 ] }, { "date": "2023-11-10", "close": 11.667486, "volume": 7150220, "typical_volume": 6689358.55, "trend": 12.908386, "fair_value": 20.00589, "relative_strength": -21.540341, "stage": 4, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -66.287784, "energy": 54.648324, "activity_lines": [ 11.934037, 12.17909, 12.722447, 12.872953 ] }, { "date": "2023-11-17", "close": 12.195285, "volume": 6237857, "typical_volume": 6558533.85, "trend": 12.921652, "fair_value": 19.921146, "relative_strength": -19.138153, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -56.394591, "energy": 39.529982, "activity_lines": [ 11.996745, 12.127571, 12.63509, 12.826946 ] }, { "date": "2023-11-24", "close": 11.934471, "volume": 3078526, "typical_volume": 6421541.8, "trend": 12.911648, "fair_value": 19.834884, "relative_strength": -20.897069, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -55.448392, "energy": 33.455795, "activity_lines": [ 11.988633, 12.0586, 12.527203, 12.763257 ] }, { "date": "2023-12-01", "close": 13.499353, "volume": 7714319, "typical_volume": 6460491.4, "trend": 12.94409, "fair_value": 19.755708, "relative_strength": -10.520083, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -19.857681, "energy": 11.841235, "activity_lines": [ 12.510887, 12.301304, 12.576602, 12.801174 ] }, { "date": "2023-12-08", "close": 13.904063, "volume": 7973122, "typical_volume": 6589432.75, "trend": 12.984593, "fair_value": 19.685268, "relative_strength": -7.343136, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 14.074453, "energy": 18.303038, "activity_lines": [ 13.02528, 12.596186, 12.66725, 12.863108 ] }, { "date": "2023-12-15", "close": 16.170444, "volume": 14906267, "typical_volume": 7086091.2, "trend": 13.089782, "fair_value": 19.633569, "relative_strength": 5.796477, "stage": 1, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 45.502463, "energy": 52.134197, "activity_lines": [ 14.202051, 13.282898, 12.974313, 13.068646 ] }, { "date": "2023-12-22", "close": 15.235112, "volume": 6694127, "typical_volume": 7182963.75, "trend": 13.194658, "fair_value": 19.573362, "relative_strength": -0.552838, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 44.436562, "energy": 66.36545, "activity_lines": [ 14.766847, 13.730383, 13.184647, 13.207055 ] }, { "date": "2023-12-29", "close": 15.298067, "volume": 3050198, "typical_volume": 6933809.75, "trend": 13.287057, "fair_value": 19.511565, "relative_strength": 0.165466, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "up", "direction": 67.973757, "energy": 80.297915, "activity_lines": [ 15.149973, 14.138442, 13.398237, 13.342759 ] }, { "date": "2024-01-05", "close": 15.172157, "volume": 3634480, "typical_volume": 6663326.7, "trend": 13.354969, "fair_value": 19.45489, "relative_strength": 1.576033, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 66.253025, "energy": 79.542651, "activity_lines": [ 15.266889, 14.464834, 13.592522, 13.464378 ] }, { "date": "2024-01-12", "close": 15.522906, "volume": 3877360, "typical_volume": 6466156.45, "trend": 13.433715, "fair_value": 19.39116, "relative_strength": 2.655077, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 68.071454, "energy": 74.897146, "activity_lines": [ 15.389202, 14.785648, 13.807779, 13.604245 ] }, { "date": "2024-01-19", "close": 15.02826, "volume": 2768930, "typical_volume": 6222591.2, "trend": 13.540364, "fair_value": 19.32702, "relative_strength": -1.174474, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 62.105944, "energy": 53.40066, "activity_lines": [ 15.238709, 14.961707, 13.963548, 13.707119 ] }, { "date": "2024-01-26", "close": 14.974299, "volume": 3789511, "typical_volume": 6093473.75, "trend": 13.602823, "fair_value": 19.270355, "relative_strength": -1.817926, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 58.572264, "energy": 44.479449, "activity_lines": [ 15.146376, 15.066851, 14.109926, 13.799631 ] }, { "date": "2024-02-02", "close": 14.461665, "volume": 5627546, "typical_volume": 6040301.9, "trend": 13.629322, "fair_value": 19.203503, "relative_strength": -5.753083, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 44.906979, "energy": 33.477959, "activity_lines": [ 14.900551, 15.02826, 14.202098, 13.85504 ] }, { "date": "2024-02-09", "close": 15.217125, "volume": 8473498, "typical_volume": 6152004.65, "trend": 13.667647, "fair_value": 19.133569, "relative_strength": -1.478269, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 45.996033, "energy": 30.457367, "activity_lines": [ 14.962307, 15.081077, 14.361295, 13.957479 ] }, { "date": "2024-02-16", "close": 14.740466, "volume": 6256422, "typical_volume": 6120379.95, "trend": 13.691535, "fair_value": 19.06697, "relative_strength": -3.608414, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 40.912541, "energy": 25.91381, "activity_lines": [ 14.862179, 15.015996, 14.46131, 14.026693 ] }, { "date": "2024-02-23", "close": 14.65053, "volume": 6744038, "typical_volume": 6096529.25, "trend": 13.694423, "fair_value": 18.998568, "relative_strength": -5.158324, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 36.969274, "energy": 21.209532, "activity_lines": [ 14.784235, 14.919356, 14.543475, 14.088564 ] }, { "date": "2024-03-01", "close": 15.414094, "volume": 5392737, "typical_volume": 6081646.15, "trend": 13.71957, "fair_value": 18.931891, "relative_strength": -0.904218, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 50.671199, "energy": 30.815576, "activity_lines": [ 14.985994, 14.989181, 14.687484, 14.19951 ] }, { "date": "2024-03-08", "close": 15.832165, "volume": 3660217, "typical_volume": 5966356.9, "trend": 13.788559, "fair_value": 18.861145, "relative_strength": 2.257481, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 64.962915, "energy": 39.610791, "activity_lines": [ 15.29779, 15.131764, 14.857133, 14.335807 ] }, { "date": "2024-03-15", "close": 15.123262, "volume": 7501915, "typical_volume": 6049570.45, "trend": 13.873971, "fair_value": 18.796898, "relative_strength": -2.123665, "stage": 1, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 53.9977, "energy": 38.385169, "activity_lines": [ 15.281919, 15.135745, 14.941331, 14.421916 ] }, { "date": "2024-03-22", "close": 14.941492, "volume": 3811155, "typical_volume": 5917122.25, "trend": 13.941234, "fair_value": 18.728112, "relative_strength": -5.271659, "stage": 1, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 51.59958, "energy": 37.498005, "activity_lines": [ 15.211715, 15.107566, 14.990287, 14.490789 ] }, { "date": "2024-03-29", "close": 14.587041, "volume": 4227385, "typical_volume": 5770980.5, "trend": 13.956288, "fair_value": 18.655724, "relative_strength": -7.606321, "stage": 1, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 37.002223, "energy": 23.066385, "activity_lines": [ 15.009959, 15.025512, 14.993897, 14.532454 ] }, { "date": "2024-04-05", "close": 13.959934, "volume": 6778662, "typical_volume": 5798020.75, "trend": 13.960168, "fair_value": 18.581259, "relative_strength": -10.510288, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 2.792535, "energy": 10.354758, "activity_lines": [ 14.6034, 14.837461, 14.92388, 14.532689 ] }, { "date": "2024-04-12", "close": 13.887226, "volume": 4051547, "typical_volume": 5846671.8, "trend": 13.975483, "fair_value": 18.504743, "relative_strength": -9.551841, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": -1.708917, "energy": 16.551477, "activity_lines": [ 14.269549, 14.654634, 14.838536, 14.527983 ] }, { "date": "2024-04-19", "close": 13.487332, "volume": 3138268, "typical_volume": 5617869.25, "trend": 14.014325, "fair_value": 18.426737, "relative_strength": -9.268454, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -29.443724, "energy": 33.337932, "activity_lines": [ 13.932063, 14.409543, 14.705807, 14.496489 ] }, { "date": "2024-04-26", "close": 13.750899, "volume": 2354942, "typical_volume": 5336960.25, "trend": 14.046325, "fair_value": 18.348171, "relative_strength": -9.718353, "stage": 1, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -22.711311, "energy": 43.79079, "activity_lines": [ 13.791494, 14.243823, 14.598237, 14.479494 ] }, { "date": "2024-05-03", "close": 13.505509, "volume": 7673644, "typical_volume": 4975329.1, "trend": 14.084299, "fair_value": 18.270333, "relative_strength": -11.606241, "stage": 1, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -27.196211, "energy": 47.473755, "activity_lines": [ 13.648502, 14.05148, 14.468026, 14.444603 ] }, { "date": "2024-05-10", "close": 13.335851, "volume": 3479693, "typical_volume": 4814607.4, "trend": 14.114258, "fair_value": 18.194841, "relative_strength": -14.003063, "stage": 1, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -39.712279, "energy": 51.110829, "activity_lines": [ 13.521059, 13.849108, 14.334348, 14.396316 ] }, { "date": "2024-05-17", "close": 13.611765, "volume": 5292688, "typical_volume": 4926731.9, "trend": 14.165799, "fair_value": 18.116535, "relative_strength": -13.324676, "stage": 1, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -32.620801, "energy": 39.476908, "activity_lines": [ 13.527192, 13.734689, 14.235991, 14.363897 ] }, { "date": "2024-05-24", "close": 12.8576, "volume": 3892035, "typical_volume": 4939609.65, "trend": 14.21579, "fair_value": 18.033086, "relative_strength": -17.863645, "stage": 1, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -45.448183, "energy": 50.381584, "activity_lines": [ 13.300302, 13.52352, 14.073838, 14.279497 ] }, { "date": "2024-05-31", "close": 13.24388, "volume": 4130007, "typical_volume": 4952242.0, "trend": 14.240325, "fair_value": 17.943512, "relative_strength": -14.809877, "stage": 4, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -60.677937, "energy": 55.527724, "activity_lines": [ 13.244154, 13.423777, 13.959496, 14.216793 ] }, { "date": "2024-06-07", "close": 13.335851, "volume": 4665236, "typical_volume": 5047057.3, "trend": 14.295937, "fair_value": 17.848967, "relative_strength": -14.950615, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -58.393223, "energy": 48.361757, "activity_lines": [ 13.252464, 13.371622, 13.864766, 14.15844 ] }, { "date": "2024-06-14", "close": 13.519794, "volume": 5261791, "typical_volume": 5120671.3, "trend": 14.340087, "fair_value": 17.766363, "relative_strength": -14.871713, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -55.491572, "energy": 38.552142, "activity_lines": [ 13.333399, 13.37566, 13.795613, 14.108366 ] }, { "date": "2024-06-21", "close": 13.492202, "volume": 6503772, "typical_volume": 5164482.6, "trend": 14.392011, "fair_value": 17.682038, "relative_strength": -15.4268, "stage": 1, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -41.97478, "energy": 28.026857, "activity_lines": [ 13.392873, 13.382684, 13.730759, 14.053664 ] }, { "date": "2024-06-28", "close": 14.007242, "volume": 5315489, "typical_volume": 5006582.15, "trend": 14.408941, "fair_value": 17.609769, "relative_strength": -11.906938, "stage": 1, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -36.338863, "energy": 19.204679, "activity_lines": [ 13.631999, 13.490534, 13.719572, 14.02884 ] }, { "date": "2024-07-05", "close": 14.172791, "volume": 2333860, "typical_volume": 4810454.05, "trend": 14.417899, "fair_value": 17.536655, "relative_strength": -12.190761, "stage": 1, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -22.359162, "energy": 18.317469, "activity_lines": [ 13.849665, 13.61903, 13.729913, 14.013605 ] }, { "date": "2024-07-12", "close": 15.340827, "volume": 4119092, "typical_volume": 4679206.75, "trend": 14.390245, "fair_value": 17.465313, "relative_strength": -5.590301, "stage": 1, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "mixed", "direction": 37.599537, "energy": 34.127967, "activity_lines": [ 14.394748, 13.952227, 13.8542, 14.073148 ] }, { "date": "2024-07-19", "close": 14.908562, "volume": 3676726, "typical_volume": 4593406.2, "trend": 14.37936, "fair_value": 17.390943, "relative_strength": -6.145085, "stage": 1, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 28.718176, "energy": 41.350321, "activity_lines": [ 14.662078, 14.17346, 13.93403, 14.106588 ] }, { "date": "2024-07-26", "close": 15.552362, "volume": 3314836, "typical_volume": 4576137.15, "trend": 14.387836, "fair_value": 17.322604, "relative_strength": -1.026783, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 40.913324, "energy": 63.029152, "activity_lines": [ 15.051424, 14.483152, 14.077583, 14.182266 ] }, { "date": "2024-08-02", "close": 14.770605, "volume": 7709505, "typical_volume": 4586516.65, "trend": 14.374451, "fair_value": 17.257391, "relative_strength": -3.609558, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 26.235335, "energy": 57.244688, "activity_lines": [ 15.04284, 14.615424, 14.148015, 14.206961 ] }, { "date": "2024-08-09", "close": 15.568794, "volume": 5151591, "typical_volume": 4653538.45, "trend": 14.375981, "fair_value": 17.198898, "relative_strength": 1.725399, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 44.899882, "energy": 58.688348, "activity_lines": [ 15.249428, 14.858039, 14.296144, 14.284015 ] }, { "date": "2024-08-16", "close": 15.624563, "volume": 2925066, "typical_volume": 4588422.5, "trend": 14.395858, "fair_value": 17.147092, "relative_strength": -1.77144, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 43.18908, "energy": 54.325989, "activity_lines": [ 15.381539, 15.068523, 14.446597, 14.364569 ] }, { "date": "2024-08-23", "close": 16.330968, "volume": 2427855, "typical_volume": 4370882.15, "trend": 14.44108, "fair_value": 17.096442, "relative_strength": 1.291204, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "up", "direction": 79.470794, "energy": 66.605055, "activity_lines": [ 15.730203, 15.365831, 14.659386, 14.489415 ] }, { "date": "2024-08-30", "close": 16.172956, "volume": 2510410, "typical_volume": 4293825.3, "trend": 14.498123, "fair_value": 17.041874, "relative_strength": 0.242201, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 72.124325, "energy": 74.096464, "activity_lines": [ 15.931369, 15.583297, 14.845836, 14.601148 ] }, { "date": "2024-09-06", "close": 15.949881, "volume": 2229995, "typical_volume": 4248411.65, "trend": 14.522548, "fair_value": 16.991843, "relative_strength": 3.264226, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 63.378198, "energy": 70.009141, "activity_lines": [ 16.016804, 15.711463, 15.000157, 14.69481 ] }, { "date": "2024-09-13", "close": 16.944425, "volume": 2433366, "typical_volume": 4252332.85, "trend": 14.596013, "fair_value": 16.9472, "relative_strength": 5.509296, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 81.00191, "energy": 81.171023, "activity_lines": [ 16.355134, 15.985135, 15.237469, 14.85106 ] }, { "date": "2024-09-20", "close": 16.777118, "volume": 6836133, "typical_volume": 4210457.3, "trend": 14.6669, "fair_value": 16.899462, "relative_strength": 2.968848, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 71.380727, "energy": 71.905928, "activity_lines": [ 16.545988, 16.177994, 15.44364, 14.991777 ] }, { "date": "2024-09-27", "close": 16.312378, "volume": 2776463, "typical_volume": 4175295.8, "trend": 14.696843, "fair_value": 16.847707, "relative_strength": -0.328414, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 62.465562, "energy": 53.48846, "activity_lines": [ 16.50509, 16.26024, 15.589971, 15.097937 ] }, { "date": "2024-10-04", "close": 16.433211, "volume": 3252445, "typical_volume": 4073283.65, "trend": 14.716877, "fair_value": 16.797038, "relative_strength": 0.178902, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 60.600396, "energy": 51.375737, "activity_lines": [ 16.50571, 16.338932, 15.733636, 15.20996 ] }, { "date": "2024-10-11", "close": 16.265904, "volume": 1670373, "typical_volume": 3962200.55, "trend": 14.754965, "fair_value": 16.744882, "relative_strength": -1.894502, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 57.101692, "energy": 45.408172, "activity_lines": [ 16.433211, 16.371189, 15.847932, 15.309898 ] }, { "date": "2024-10-18", "close": 17.371986, "volume": 1720425, "typical_volume": 3841721.45, "trend": 14.835982, "fair_value": 16.702202, "relative_strength": 3.831141, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 75.566453, "energy": 52.721765, "activity_lines": [ 16.708337, 16.577365, 16.051339, 15.478738 ] }, { "date": "2024-10-25", "close": 16.712055, "volume": 1733464, "typical_volume": 3695132.85, "trend": 14.906816, "fair_value": 16.659599, "relative_strength": 0.787944, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 56.984187, "energy": 45.477352, "activity_lines": [ 16.734982, 16.630768, 16.172237, 15.599775 ] }, { "date": "2024-11-01", "close": 15.596679, "volume": 1997545, "typical_volume": 3531920.55, "trend": 14.961374, "fair_value": 16.602685, "relative_strength": -4.502226, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 38.471424, "energy": 29.451303, "activity_lines": [ 16.394173, 16.461602, 16.170832, 15.644282 ] }, { "date": "2024-11-08", "close": 16.33703, "volume": 2476070, "typical_volume": 3330535.45, "trend": 15.043034, "fair_value": 16.549551, "relative_strength": -4.539442, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 38.39947, "energy": 28.115716, "activity_lines": [ 16.34786, 16.440397, 16.230047, 15.733034 ] }, { "date": "2024-11-15", "close": 14.25265, "volume": 3859624, "typical_volume": 3257742.2, "trend": 15.068545, "fair_value": 16.485093, "relative_strength": -14.773307, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -13.96884, "energy": 19.670294, "activity_lines": [ 15.613167, 16.03723, 16.077202, 15.682041 ] }, { "date": "2024-11-22", "close": 15.557735, "volume": 3905768, "typical_volume": 3336337.6, "trend": 15.128772, "fair_value": 16.434647, "relative_strength": -8.466694, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 6.507965, "energy": 21.163462, "activity_lines": [ 15.447719, 15.90221, 16.047483, 15.713602 ] }, { "date": "2024-11-29", "close": 16.045968, "volume": 2296299, "typical_volume": 3245197.95, "trend": 15.213454, "fair_value": 16.392348, "relative_strength": -6.49733, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 7.244931, "energy": 16.669988, "activity_lines": [ 15.565965, 15.881173, 16.057667, 15.772776 ] }, { "date": "2024-12-06", "close": 15.369953, "volume": 3001818, "typical_volume": 3211452.55, "trend": 15.281258, "fair_value": 16.343782, "relative_strength": -10.89065, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 1.074437, "energy": 15.945375, "activity_lines": [ 15.503278, 15.750517, 16.000111, 15.782873 ] }, { "date": "2024-12-13", "close": 15.313618, "volume": 2125491, "typical_volume": 3151985.3, "trend": 15.337986, "fair_value": 16.293025, "relative_strength": -10.113537, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 3.473665, "energy": 10.019623, "activity_lines": [ 15.436928, 15.626754, 15.934993, 15.784961 ] }, { "date": "2024-12-20", "close": 14.421654, "volume": 5519724, "typical_volume": 3042496.25, "trend": 15.390121, "fair_value": 16.235662, "relative_strength": -13.283393, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -30.674632, "energy": 23.140957, "activity_lines": [ 15.141485, 15.361171, 15.786062, 15.725842 ] }, { "date": "2024-12-27", "close": 14.299596, "volume": 1406041, "typical_volume": 2855218.75, "trend": 15.425312, "fair_value": 16.176076, "relative_strength": -14.072003, "stage": 4, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -40.540921, "energy": 45.673401, "activity_lines": [ 14.794088, 15.106928, 15.627169, 15.655486 ] }, { "date": "2025-01-03", "close": 14.77808, "volume": 1822089, "typical_volume": 2800069.9, "trend": 15.473386, "fair_value": 16.108757, "relative_strength": -10.251699, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -30.471996, "energy": 44.622266, "activity_lines": [ 14.690062, 14.995544, 15.519889, 15.613729 ] }, { "date": "2025-01-10", "close": 13.543408, "volume": 2022479, "typical_volume": 2779801.1, "trend": 15.474173, "fair_value": 16.041953, "relative_strength": -15.562798, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -47.975273, "energy": 59.245248, "activity_lines": [ 14.259005, 14.694837, 15.299053, 15.489214 ] }, { "date": "2025-01-17", "close": 14.645116, "volume": 2370098, "typical_volume": 2772785.5, "trend": 15.512604, "fair_value": 15.993907, "relative_strength": -10.868452, "stage": 4, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -58.10289, "energy": 55.488103, "activity_lines": [ 14.316953, 14.631773, 15.196415, 15.435727 ] }, { "date": "2025-01-24", "close": 14.436171, "volume": 1960686, "typical_volume": 2759320.05, "trend": 15.526901, "fair_value": 15.944468, "relative_strength": -13.194088, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -54.660855, "energy": 39.816826, "activity_lines": [ 14.34982, 14.56148, 15.081153, 15.366279 ] }, { "date": "2025-01-31", "close": 14.730593, "volume": 2548650, "typical_volume": 2765084.25, "trend": 15.545495, "fair_value": 15.895547, "relative_strength": -10.193254, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -51.604015, "energy": 33.429746, "activity_lines": [ 14.47986, 14.541383, 15.001139, 15.314905 ] }, { "date": "2025-02-07", "close": 14.331699, "volume": 2875894, "typical_volume": 2567072.3, "trend": 15.511857, "fair_value": 15.842963, "relative_strength": -12.044542, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -51.723068, "energy": 28.795635, "activity_lines": [ 14.448201, 14.463798, 14.893678, 15.236595 ] }, { "date": "2025-02-14", "close": 14.426674, "volume": 2714839, "typical_volume": 2563991.1, "trend": 15.495794, "fair_value": 15.789881, "relative_strength": -12.371607, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -41.722331, "energy": 25.86114, "activity_lines": [ 14.47796, 14.43465, 14.806906, 15.166583 ] }, { "date": "2025-02-21", "close": 14.170242, "volume": 5050851, "typical_volume": 2653911.4, "trend": 15.449724, "fair_value": 15.738685, "relative_strength": -12.17881, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -56.311086, "energy": 32.627756, "activity_lines": [ 14.363357, 14.376028, 14.704692, 15.081064 ] }, { "date": "2025-02-28", "close": 14.569136, "volume": 5187003, "typical_volume": 2829742.9, "trend": 15.443008, "fair_value": 15.68541, "relative_strength": -8.443687, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -41.035824, "energy": 26.039671, "activity_lines": [ 14.413377, 14.410721, 14.651244, 15.024252 ] }, { "date": "2025-03-07", "close": 14.407679, "volume": 5075967, "typical_volume": 2997520.0, "trend": 15.404304, "fair_value": 15.624725, "relative_strength": -6.161849, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -48.749183, "energy": 27.212015, "activity_lines": [ 14.400714, 14.413377, 14.590499, 14.957456 ] }, { "date": "2025-03-14", "close": 13.904312, "volume": 6943223, "typical_volume": 3258007.95, "trend": 15.346962, "fair_value": 15.562289, "relative_strength": -6.978909, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -58.930718, "energy": 32.893359, "activity_lines": [ 14.241789, 14.322547, 14.49593, 14.860683 ] }, { "date": "2025-03-21", "close": 14.654613, "volume": 7384395, "typical_volume": 3527350.45, "trend": 15.291084, "fair_value": 15.502503, "relative_strength": -2.240965, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -46.606004, "energy": 23.972847, "activity_lines": [ 14.361458, 14.384021, 14.486188, 14.816015 ] }, { "date": "2025-03-28", "close": 15.11999, "volume": 5303627, "typical_volume": 3668728.3, "trend": 15.255985, "fair_value": 15.44375, "relative_strength": 2.450136, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -22.848585, "energy": 10.857191, "activity_lines": [ 14.621055, 14.509906, 14.525254, 14.804977 ] }, { "date": "2025-04-04", "close": 14.521648, "volume": 9179798, "typical_volume": 3934737.0, "trend": 15.208377, "fair_value": 15.392752, "relative_strength": 8.091554, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -18.977112, "energy": 8.962088, "activity_lines": [ 14.617889, 14.518368, 14.513131, 14.7576 ] }, { "date": "2025-04-11", "close": 14.654613, "volume": 6714797, "typical_volume": 4075188.45, "trend": 15.13205, "fair_value": 15.341763, "relative_strength": 3.232411, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -16.473709, "energy": 10.996475, "activity_lines": [ 14.662211, 14.54945, 14.51239, 14.721873 ] }, { "date": "2025-04-18", "close": 14.160744, "volume": 4109415, "typical_volume": 4165844.25, "trend": 15.044838, "fair_value": 15.286819, "relative_strength": 1.230381, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -26.966541, "energy": 11.754329, "activity_lines": [ 14.525447, 14.49212, 14.468914, 14.659208 ] }, { "date": "2025-04-25", "close": 13.894815, "volume": 3116105, "typical_volume": 4171558.6, "trend": 14.964252, "fair_value": 15.237018, "relative_strength": -4.892513, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -51.726568, "energy": 26.472532, "activity_lines": [ 14.282945, 14.389547, 14.409089, 14.585013 ] }, { "date": "2025-05-02", "close": 14.379186, "volume": 8731724, "typical_volume": 4501870.25, "trend": 14.895785, "fair_value": 15.195117, "relative_strength": -4.280789, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -42.638706, "energy": 24.956106, "activity_lines": [ 14.252553, 14.384712, 14.402419, 14.547267 ] }, { "date": "2025-05-09", "close": 15.481575, "volume": 8805696, "typical_volume": 4666168.85, "trend": 14.869641, "fair_value": 15.163082, "relative_strength": 3.38673, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -3.040104, "energy": 2.985095, "activity_lines": [ 14.639011, 14.576512, 14.505189, 14.58506 ] }, { "date": "2025-05-16", "close": 15.904149, "volume": 6709210, "typical_volume": 4931327.3, "trend": 14.820713, "fair_value": 15.132267, "relative_strength": 0.818111, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 23.653617, "energy": 27.710215, "activity_lines": [ 15.102332, 14.828554, 14.643156, 14.651803 ] }, { "date": "2025-05-23", "close": 15.817714, "volume": 7507054, "typical_volume": 5215575.55, "trend": 14.790901, "fair_value": 15.094253, "relative_strength": 2.680623, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 31.982803, "energy": 43.895751, "activity_lines": [ 15.453539, 15.037672, 14.76525, 14.716125 ] }, { "date": "2025-05-30", "close": 16.422763, "volume": 4127501, "typical_volume": 5320826.65, "trend": 14.818437, "fair_value": 15.063466, "relative_strength": 4.565002, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 69.245634, "energy": 68.913454, "activity_lines": [ 15.895964, 15.32201, 14.940018, 14.821407 ] }, { "date": "2025-06-06", "close": 17.152664, "volume": 8047847, "typical_volume": 5604714.1, "trend": 14.845625, "fair_value": 15.041293, "relative_strength": 7.176848, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 77.883224, "energy": 77.773313, "activity_lines": [ 16.413159, 15.706909, 15.170588, 14.972002 ] }, { "date": "2025-06-13", "close": 17.584842, "volume": 8790478, "typical_volume": 5946203.7, "trend": 14.956698, "fair_value": 15.02742, "relative_strength": 9.936286, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 80.098547, "energy": 81.96204, "activity_lines": [ 16.889515, 16.133428, 15.430378, 15.148725 ] }, { "date": "2025-06-20", "close": 17.162267, "volume": 11738594, "typical_volume": 6405700.9, "trend": 15.010183, "fair_value": 15.005415, "relative_strength": 7.176168, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 68.264566, "energy": 77.969187, "activity_lines": [ 17.084796, 16.427421, 15.634929, 15.29102 ] }, { "date": "2025-06-27", "close": 16.787713, "volume": 8956770, "typical_volume": 6709744.7, "trend": 15.034908, "fair_value": 14.984198, "relative_strength": 1.230067, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 64.130931, "energy": 69.181895, "activity_lines": [ 17.07135, 16.60772, 15.792229, 15.4057 ] }, { "date": "2025-07-04", "close": 16.393951, "volume": 3662529, "typical_volume": 6757129.2, "trend": 15.069041, "fair_value": 14.963755, "relative_strength": -2.817067, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 60.509429, "energy": 47.295112, "activity_lines": [ 16.861984, 16.668662, 15.900332, 15.49338 ] }, { "date": "2025-07-11", "close": 17.719297, "volume": 4596948, "typical_volume": 6734434.05, "trend": 15.14923, "fair_value": 14.950584, "relative_strength": 5.278342, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 72.133595, "energy": 49.600321, "activity_lines": [ 17.09632, 16.925137, 16.125291, 15.664364 ] }, { "date": "2025-07-18", "close": 17.402366, "volume": 3471520, "typical_volume": 6648659.9, "trend": 15.248587, "fair_value": 14.930915, "relative_strength": 2.725649, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 63.044023, "energy": 44.203333, "activity_lines": [ 17.187238, 17.063259, 16.303165, 15.809728 ] }, { "date": "2025-07-25", "close": 18.766128, "volume": 3621291, "typical_volume": 6575926.1, "trend": 15.397472, "fair_value": 14.915948, "relative_strength": 9.07904, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 78.793186, "energy": 55.56627, "activity_lines": [ 17.744907, 17.414415, 16.59743, 16.036666 ] }, { "date": "2025-08-01", "close": 20.08187, "volume": 7697707, "typical_volume": 6613650.3, "trend": 15.574265, "fair_value": 14.919304, "relative_strength": 19.25444, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 84.983868, "energy": 80.881308, "activity_lines": [ 18.634234, 17.95276, 16.99625, 16.338885 ] }, { "date": "2025-08-08", "close": 18.921385, "volume": 5603230, "typical_volume": 6524592.05, "trend": 15.753531, "fair_value": 14.909346, "relative_strength": 9.627199, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 65.691654, "energy": 76.277096, "activity_lines": [ 18.917121, 18.202578, 17.25513, 16.554828 ] }, { "date": "2025-08-15", "close": 19.115153, "volume": 6510742, "typical_volume": 6584947.8, "trend": 15.902532, "fair_value": 14.905352, "relative_strength": 9.581344, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 67.296078, "energy": 76.357087, "activity_lines": [ 19.096102, 18.442197, 17.512146, 16.771707 ] }, { "date": "2025-08-22", "close": 19.938664, "volume": 5242120, "typical_volume": 6388063.9, "trend": 16.085948, "fair_value": 14.912056, "relative_strength": 13.851129, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 74.860604, "energy": 74.271251, "activity_lines": [ 19.45653, 18.795864, 17.828567, 17.032103 ] }, { "date": "2025-08-29", "close": 20.771864, "volume": 4732000, "typical_volume": 6288924.05, "trend": 16.287324, "fair_value": 14.928823, "relative_strength": 18.391986, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 80.179377, "energy": 70.58009, "activity_lines": [ 19.925605, 19.258225, 18.198545, 17.33442 ] }, { "date": "2025-09-05", "close": 22.021664, "volume": 3645537, "typical_volume": 6265730.15, "trend": 16.543656, "fair_value": 14.950275, "relative_strength": 24.7256, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 86.860457, "energy": 80.549908, "activity_lines": [ 20.677564, 19.882193, 18.658422, 17.704377 ] }, { "date": "2025-09-12", "close": 22.777357, "volume": 5261597, "typical_volume": 6373004.75, "trend": 16.822012, "fair_value": 14.979897, "relative_strength": 26.641899, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 86.015308, "energy": 89.95945, "activity_lines": [ 21.552101, 20.548397, 19.152837, 18.106552 ] }, { "date": "2025-09-19", "close": 23.019566, "volume": 11620168, "typical_volume": 6517426.95, "trend": 17.11699, "fair_value": 15.021805, "relative_strength": 26.002659, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 81.125924, "energy": 90.857602, "activity_lines": [ 22.250309, 21.142577, 19.628021, 18.506394 ] }, { "date": "2025-09-26", "close": 21.198152, "volume": 4643808, "typical_volume": 6309332.55, "trend": 17.337957, "fair_value": 15.057992, "relative_strength": 16.10766, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 67.02173, "energy": 77.92364, "activity_lines": [ 22.081086, 21.309223, 19.888593, 18.769695 ] }, { "date": "2025-10-03", "close": 20.897813, "volume": 3860060, "typical_volume": 6166875.05, "trend": 17.554295, "fair_value": 15.096655, "relative_strength": 13.025286, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 63.786996, "energy": 57.659094, "activity_lines": [ 21.727783, 21.352247, 20.093339, 18.999363 ] }, { "date": "2025-10-10", "close": 19.454246, "volume": 3296136, "typical_volume": 5956329.15, "trend": 17.739292, "fair_value": 15.123166, "relative_strength": 7.722453, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 46.756634, "energy": 36.710405, "activity_lines": [ 20.884895, 21.094046, 20.136824, 19.12194 ] }, { "date": "2025-10-17", "close": 19.773962, "volume": 2400552, "typical_volume": 5869981.7, "trend": 17.909937, "fair_value": 15.147541, "relative_strength": 7.642478, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 36.581039, "energy": 26.596195, "activity_lines": [ 20.31974, 20.905387, 20.193441, 19.253209 ] }, { "date": "2025-10-24", "close": 20.839683, "volume": 2763976, "typical_volume": 5605788.15, "trend": 18.100594, "fair_value": 15.174562, "relative_strength": 11.169139, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 33.372282, "energy": 25.19804, "activity_lines": [ 20.310052, 20.894995, 20.335596, 19.442225 ] }, { "date": "2025-10-31", "close": 18.882632, "volume": 4037084, "typical_volume": 5368118.45, "trend": 18.24596, "fair_value": 15.192795, "relative_strength": 0.016039, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 14.119904, "energy": 21.365292, "activity_lines": [ 19.793339, 20.497419, 20.273809, 19.492679 ] }, { "date": "2025-11-07", "close": 18.272757, "volume": 3725205, "typical_volume": 4967449.0, "trend": 18.366565, "fair_value": 15.200998, "relative_strength": -1.586691, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -7.217762, "energy": 19.498024, "activity_lines": [ 19.227702, 20.008158, 20.147759, 19.494408 ] }, { "date": "2025-11-14", "close": 17.568454, "volume": 2358451, "typical_volume": 4637533.05, "trend": 18.480155, "fair_value": 15.207782, "relative_strength": -5.614764, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -16.091932, "energy": 28.457265, "activity_lines": [ 18.602301, 19.43628, 19.949344, 19.442917 ] }, { "date": "2025-11-21", "close": 17.372814, "volume": 4195009, "typical_volume": 4664157.05, "trend": 18.596088, "fair_value": 15.210488, "relative_strength": -4.833583, "stage": 3, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -35.407144, "energy": 50.087423, "activity_lines": [ 18.037407, 18.909798, 19.728579, 19.371476 ] }, { "date": "2025-11-28", "close": 17.832567, "volume": 3342090, "typical_volume": 4601414.15, "trend": 18.711201, "fair_value": 15.212448, "relative_strength": -5.741, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -25.495923, "energy": 53.688333, "activity_lines": [ 17.78584, 18.565173, 19.546938, 19.322216 ] }, { "date": "2025-12-05", "close": 17.529326, "volume": 2870366, "typical_volume": 4571356.45, "trend": 18.779459, "fair_value": 15.217135, "relative_strength": -7.652792, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -28.968879, "energy": 55.660897, "activity_lines": [ 17.633667, 18.259721, 19.335878, 19.245966 ] }, { "date": "2025-12-12", "close": 16.883714, "volume": 3369187, "typical_volume": 4558751.25, "trend": 18.812112, "fair_value": 15.220181, "relative_strength": -10.4861, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -45.009693, "energy": 59.079474, "activity_lines": [ 17.35651, 17.903592, 19.062727, 19.12366 ] }, { "date": "2025-12-19", "close": 16.844586, "volume": 5135011, "typical_volume": 4430616.45, "trend": 18.846341, "fair_value": 15.222433, "relative_strength": -10.805503, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -42.090645, "energy": 53.792753, "activity_lines": [ 17.158914, 17.613332, 18.794813, 18.996723 ] }, { "date": "2025-12-26", "close": 16.648947, "volume": 1510964, "typical_volume": 4226003.15, "trend": 18.85388, "fair_value": 15.224844, "relative_strength": -13.070969, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -43.010711, "energy": 60.549194, "activity_lines": [ 16.944363, 17.33495, 18.523683, 18.854956 ] }, { "date": "2026-01-02", "close": 16.503397, "volume": 1833992, "typical_volume": 3992165.65, "trend": 18.832238, "fair_value": 15.224344, "relative_strength": -12.863896, "stage": 4, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -69.34584, "energy": 73.295881, "activity_lines": [ 16.729552, 17.086922, 18.249511, 18.703312 ] }, { "date": "2026-01-09", "close": 16.9481, "volume": 2002867, "typical_volume": 3830203.0, "trend": 18.811013, "fair_value": 15.224991, "relative_strength": -11.970935, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -64.041352, "energy": 67.180922, "activity_lines": [ 16.751588, 16.998592, 18.03013, 18.581754 ] }, { "date": "2026-01-16", "close": 17.412566, "volume": 2063765, "typical_volume": 3696791.25, "trend": 18.819356, "fair_value": 15.232627, "relative_strength": -9.267297, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -60.342423, "energy": 47.272342, "activity_lines": [ 16.967193, 17.029883, 17.869223, 18.491532 ] }, { "date": "2026-01-23", "close": 16.938217, "volume": 1431728, "typical_volume": 3586100.8, "trend": 18.824373, "fair_value": 15.231837, "relative_strength": -11.461751, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -59.857627, "energy": 43.730297, "activity_lines": [ 16.989426, 16.990568, 17.679138, 18.370168 ] }, { "date": "2026-01-30", "close": 16.641749, "volume": 3096845, "typical_volume": 3477863.2, "trend": 18.832633, "fair_value": 15.228321, "relative_strength": -13.313024, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -65.155701, "energy": 45.347843, "activity_lines": [ 16.906594, 16.908809, 17.485024, 18.229354 ] }, { "date": "2026-02-06", "close": 16.434221, "volume": 2978622, "typical_volume": 3045785.9, "trend": 18.789797, "fair_value": 15.225619, "relative_strength": -14.206566, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -67.728693, "energy": 48.516522, "activity_lines": [ 16.755066, 16.80261, 17.300363, 18.074617 ] }, { "date": "2026-02-13", "close": 15.752344, "volume": 2395145, "typical_volume": 2933352.75, "trend": 18.734797, "fair_value": 15.223657, "relative_strength": -16.648181, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -77.68532, "energy": 70.488916, "activity_lines": [ 16.380857, 16.597857, 17.08212, 17.878653 ] }, { "date": "2026-02-20", "close": 15.505288, "volume": 2590088, "typical_volume": 2869854.15, "trend": 18.626102, "fair_value": 15.225168, "relative_strength": -18.790188, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -77.874688, "energy": 80.499889, "activity_lines": [ 16.004013, 16.380494, 16.86628, 17.670297 ] }, { "date": "2026-02-27", "close": 15.030938, "volume": 2966698, "typical_volume": 2853382.25, "trend": 18.457738, "fair_value": 15.233255, "relative_strength": -20.720437, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -82.60131, "energy": 88.40351, "activity_lines": [ 15.596204, 16.101948, 16.630943, 17.438351 ] }, { "date": "2026-03-06", "close": 14.64553, "volume": 2276983, "typical_volume": 2847203.8, "trend": 18.315209, "fair_value": 15.24239, "relative_strength": -20.995704, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -82.321547, "energy": 90.340107, "activity_lines": [ 15.187078, 15.786303, 16.379964, 17.192402 ] }, { "date": "2026-03-13", "close": 14.161298, "volume": 2723096, "typical_volume": 2845159.8, "trend": 18.150081, "fair_value": 15.254466, "relative_strength": -22.248127, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -83.733288, "energy": 91.334036, "activity_lines": [ 14.749623, 15.419042, 16.107288, 16.924408 ] }, { "date": "2026-03-20", "close": 14.783882, "volume": 5677812, "typical_volume": 2927196.2, "trend": 17.978254, "fair_value": 15.271742, "relative_strength": -17.140261, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -66.92546, "energy": 78.429566, "activity_lines": [ 14.671224, 15.207562, 15.925708, 16.707234 ] }, { "date": "2026-03-27", "close": 14.724588, "volume": 3892023, "typical_volume": 2935537.1, "trend": 17.776679, "fair_value": 15.283362, "relative_strength": -15.333419, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -64.684202, "energy": 61.114114, "activity_lines": [ 14.637624, 15.02465, 15.757999, 16.49732 ] }, { "date": "2026-04-03", "close": 14.161298, "volume": 2496782, "typical_volume": 2942453.65, "trend": 17.514666, "fair_value": 15.291975, "relative_strength": -20.856688, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -71.414021, "energy": 61.054386, "activity_lines": [ 14.468308, 14.788194, 15.553539, 16.26407 ] }, { "date": "2026-04-10", "close": 14.447884, "volume": 3312319, "typical_volume": 2898319.15, "trend": 17.237017, "fair_value": 15.309076, "relative_strength": -21.704599, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -62.329773, "energy": 53.192007, "activity_lines": [ 14.452496, 14.654334, 15.392598, 16.066213 ] }, { "date": "2026-04-17", "close": 15.653522, "volume": 2680127, "typical_volume": 2865221.0, "trend": 16.991483, "fair_value": 15.333795, "relative_strength": -18.537888, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -47.150941, "energy": 37.343459, "activity_lines": [ 14.85174, 14.779569, 15.360407, 15.964052 ] }, { "date": "2026-04-24", "close": 15.347171, "volume": 1559719, "typical_volume": 2799688.65, "trend": 16.79645, "fair_value": 15.353748, "relative_strength": -20.329252, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -41.852469, "energy": 29.341911, "activity_lines": [ 15.049385, 14.863299, 15.309417, 15.857967 ] }, { "date": "2026-05-01", "close": 14.536825, "volume": 2443065, "typical_volume": 2753382.55, "trend": 16.584417, "fair_value": 15.366637, "relative_strength": -24.944908, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -47.405732, "energy": 27.407296, "activity_lines": [ 14.939363, 14.80706, 15.191642, 15.712185 ] }, { "date": "2026-05-08", "close": 15.376818, "volume": 5223718, "typical_volume": 2757817.9, "trend": 16.448503, "fair_value": 15.383867, "relative_strength": -22.049542, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -35.898439, "energy": 20.124633, "activity_lines": [ 15.121855, 14.921155, 15.165042, 15.634275 ] }, { "date": "2026-05-15", "close": 14.22, "volume": 2798922, "typical_volume": 2822215.8, "trend": 16.263371, "fair_value": 15.391592, "relative_strength": -27.657442, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -52.585741, "energy": 29.07886, "activity_lines": [ 14.837707, 14.818631, 15.035258, 15.490501 ] }, { "date": "2026-05-22", "close": 14.51, "volume": 2332816, "typical_volume": 2847157.0, "trend": 16.052381, "fair_value": 15.407113, "relative_strength": -26.38785, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -55.022543, "energy": 34.492102, "activity_lines": [ 14.665418, 14.776572, 14.94466, 15.37738 ] }, { "date": "2026-05-29", "close": 14.67, "volume": 1575805, "typical_volume": 2825803.9, "trend": 15.91196, "fair_value": 15.420856, "relative_strength": -26.170441, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -50.265952, "energy": 31.273979, "activity_lines": [ 14.622697, 14.757263, 14.878792, 15.288194 ] }, { "date": "2026-06-05", "close": 14.89, "volume": 1817554, "typical_volume": 2813493.35, "trend": 15.799201, "fair_value": 15.432107, "relative_strength": -22.643292, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -49.646336, "energy": 31.456256, "activity_lines": [ 14.698455, 14.780025, 14.844725, 15.222261 ] }, { "date": "2026-06-12", "close": 14.72, "volume": 2291345, "typical_volume": 2856474.2, "trend": 15.704253, "fair_value": 15.442104, "relative_strength": -23.397955, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -45.54402, "energy": 25.383429, "activity_lines": [ 14.694, 14.76887, 14.806479, 15.152635 ] }, { "date": "2026-06-19", "close": 14.16, "volume": 3434156, "typical_volume": 2873339.75, "trend": 15.597159, "fair_value": 15.457047, "relative_strength": -26.433126, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -56.417204, "energy": 29.749818, "activity_lines": [ 14.546667, 14.645738, 14.725463, 15.053006 ] }, { "date": "2026-06-26", "close": 14.99, "volume": 3370515, "typical_volume": 2892934.4, "trend": 15.502407, "fair_value": 15.469159, "relative_strength": -19.803451, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -34.64354, "energy": 18.296126, "activity_lines": [ 14.68, 14.67875, 14.735313, 15.013835 ] }, { "date": "2026-07-03", "close": 15.47, "volume": 2801317, "typical_volume": 2913243.0, "trend": 15.433763, "fair_value": 15.480719, "relative_strength": -18.640199, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -8.000468, "energy": 4.774059, "activity_lines": [ 14.941333, 14.811099, 14.797754, 15.011744 ] }, { "date": "2026-07-10", "close": 14.54, "volume": 2270465, "typical_volume": 2897261.85, "trend": 15.355639, "fair_value": 15.483749, "relative_strength": -24.019482, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -34.959824, "energy": 14.378857, "activity_lines": [ 14.839333, 14.772124, 14.772968, 14.954082 ] }, { "date": "2026-07-17", "close": 14.88, "volume": 2904080, "typical_volume": 2894130.95, "trend": 15.290153, "fair_value": 15.489237, "relative_strength": -20.539712, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -18.221917, "energy": 10.657459, "activity_lines": [ 14.874, 14.794909, 14.78516, 14.923395 ] }, { "date": "2026-07-24", "close": 14.52, "volume": 2010868, "typical_volume": 2880825.2, "trend": 15.219188, "fair_value": 15.488956, "relative_strength": -21.39678, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -36.188637, "energy": 14.205056, "activity_lines": [ 14.778, 14.761273, 14.763784, 14.873708 ] }, { "date": "2026-07-31", "close": 14.05, "volume": 2290874, "typical_volume": 2859214.1, "trend": 15.137408, "fair_value": 15.485047, "relative_strength": -23.955621, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -56.089693, "energy": 33.435103, "activity_lines": [ 14.501333, 14.636727, 14.698245, 14.798277 ] }, { "date": "2026-08-07", "close": 12.16, "volume": 6987752, "typical_volume": 2924711.1, "trend": 14.977805, "fair_value": 15.474775, "relative_strength": -35.702788, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -80.527435, "energy": 69.418116, "activity_lines": [ 13.657333, 14.176909, 14.453235, 14.606186 ] } ], "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." } } }