{ "ticker": { "uuid": "894259cf-af6e-4d0f-ae11-59bd269ae103", "symbol": "MBIN", "name": "Merchants Bancorp", "exchange": "NASDAQ", "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": "QQQ", "stage": 2, "stage_name": "Advancing", "phase": "2b", "phase_label": "Stage 2B \u00b7 Advancing", "transition": "stage_2_healthy", "transition_label": "Stage 2 trend intact", "confidence": 96.0, "architecture_regime": "upward_expansion", "architecture_regime_label": "Upward Expansion", "architecture_modifier": "Re-accelerating", "architecture_gate": "up", "architecture_direction": 73.426, "architecture_energy": 63.4, "architecture_maturity": 30.8, "architecture_confidence": 82.501, "architecture_tenure": "Developing", "architecture": { "interpretation": { "headline": "The weekly architecture is expanding upward.", "body": "Trend and Activity show sustained positive alignment with constructive price acceptance. Directional energy remains positive; cooling within this regime can indicate that it is maturing." }, "scores": { "balance": 22.28, "rotation_up": 66.36, "upward_expansion": 82.27, "deceleration": 52.71, "rotation_down": 13.16, "downward_expansion": 11.27 }, "activity_lines": [ 52.165333, 50.828004, 49.281345, 47.911001 ], "activity_state": "Wide", "activity_direction": "Expanding", "rotation_direction": "Improving", "price_acceptance": 0.5 }, "latest_close": 54.25, "trend_reference": 45.780567, "distance_from_trend": 0.185001, "trend_direction": "Improving", "fair_value": 38.20077, "distance_from_fair_value": 0.420128, "fair_value_direction": "Improving", "relative_strength": 19.020373, "relative_strength_direction": "Improving", "price_momentum": 0.283308, "excess_performance": 0.095854, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.185001, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.137701, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.420128, "read": "Premium" }, { "label": "Fair Value direction", "positive": true, "value": 0.146845, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": true, "value": 0.190204, "read": "Leading" }, { "label": "Relative strength direction", "positive": true, "value": 0.120221, "read": "Improving" }, { "label": "Price momentum", "positive": true, "value": 0.283308, "read": "Positive" }, { "label": "Volume balance", "positive": true, "value": 1.274352, "read": "Demand-led" } ], "volume": { "latest": 728970, "relative_activity": 0.910796, "balance": 1.274352, "dry_up": 1.086518, "accumulation_observations": 2, "distribution_observations": 2 }, "risk": { "range_context": 0.064227, "annualized_volatility": 0.351335, "from_high_reference": -0.04607, "from_low_reference": 0.799914 }, "levels": { "trend_reference": 45.780567, "fair_value_reference": 38.20077, "structural_low": 39.880246, "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis." }, "outcomes": [ { "horizon": "Near term", "sample_count": 25, "median_return": -0.015238, "positive_rate": 0.4, "directional_follow_through": 0.4, "median_excess_return": -0.008936, "regime_survival": 0.68, "best_return": 0.346621, "worst_return": -0.141669, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 10, "median_return": 0.021028, "positive_rate": 0.6, "directional_follow_through": 0.6, "median_excess_return": -0.030866, "regime_survival": 0.7, "best_return": 0.27354, "worst_return": -0.237056, "sufficient": true }, { "horizon": "Extended", "sample_count": 6, "median_return": 0.028351, "positive_rate": 0.666667, "directional_follow_through": 0.666667, "median_excess_return": -0.016574, "regime_survival": 0.5, "best_return": 0.41571, "worst_return": -0.252783, "sufficient": true }, { "horizon": "Full cycle", "sample_count": 3, "median_return": 0.027819, "positive_rate": 0.666667, "directional_follow_through": 0.666667, "median_excess_return": -0.059475, "regime_survival": 0.333333, "best_return": 0.351361, "worst_return": -0.205058, "sufficient": false } ], "ledger": [ { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2024-07-26", "end": "2024-11-01", "tenure": "Established", "return": -0.307959, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2024-11-08", "end": "2024-11-22", "tenure": "New", "return": 0.043953, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2024-11-29", "end": "2025-02-14", "tenure": "Developing", "return": 0.048716, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2025-02-21", "end": "2025-03-07", "tenure": "New", "return": -0.067278, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-03-14", "end": "2025-03-28", "tenure": "New", "return": -0.022691, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-04-04", "end": "2025-07-11", "tenure": "Established", "return": 0.047911, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-07-18", "end": "2025-08-08", "tenure": "New", "return": -0.117428, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-08-15", "end": "2025-08-29", "tenure": "New", "return": 0.013759, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-09-05", "end": "2025-12-12", "tenure": "Established", "return": 0.107326, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-12-19", "end": "2026-03-20", "tenure": "Established", "return": 0.176268, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2026-03-27", "end": "2026-04-10", "tenure": "New", "return": 0.117104, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-04-17", "end": "2026-05-22", "tenure": "Developing", "return": -0.059701, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2026-05-29", "end": "2026-06-12", "tenure": "New", "return": 0.063004, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-06-19", "end": "2026-08-07", "tenure": "Developing", "return": 0.105113, "active": true } ], "chart_path": [ { "date": "2023-08-18", "close": 28.970589, "volume": 183538, "typical_volume": 330105.9, "trend": 26.198526, "fair_value": 24.017534, "relative_strength": -1.068905, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 66.030484, "energy": 78.8788, "activity_lines": [ 29.569534, 28.423035, 26.731854, 26.259491 ] }, { "date": "2023-08-25", "close": 28.1168, "volume": 176781, "typical_volume": 321870.95, "trend": 26.302518, "fair_value": 24.115664, "relative_strength": -5.327963, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 62.099874, "energy": 62.124322, "activity_lines": [ 29.149108, 28.532052, 26.972468, 26.38325 ] }, { "date": "2023-09-01", "close": 28.679524, "volume": 272151, "typical_volume": 304766.05, "trend": 26.268715, "fair_value": 24.216719, "relative_strength": -6.667004, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 57.731325, "energy": 42.909682, "activity_lines": [ 28.891678, 28.719391, 27.253009, 26.536606 ] }, { "date": "2023-09-08", "close": 27.748119, "volume": 201542, "typical_volume": 300474.7, "trend": 26.205793, "fair_value": 24.31409, "relative_strength": -8.280672, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 42.723709, "energy": 28.993247, "activity_lines": [ 28.399456, 28.663119, 27.426933, 26.632051 ] }, { "date": "2023-09-15", "close": 27.271838, "volume": 249390, "typical_volume": 295548.2, "trend": 26.125067, "fair_value": 24.402415, "relative_strength": -9.148762, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 36.722433, "energy": 23.270979, "activity_lines": [ 27.906295, 28.466976, 27.538152, 26.700828 ] }, { "date": "2023-09-22", "close": 26.61996, "volume": 255455, "typical_volume": 286961.3, "trend": 26.043185, "fair_value": 24.494859, "relative_strength": -8.078464, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 27.510068, "energy": 21.95104, "activity_lines": [ 27.393824, 28.120574, 27.564287, 26.732757 ] }, { "date": "2023-09-29", "close": 26.970223, "volume": 333833, "typical_volume": 289031.15, "trend": 25.963977, "fair_value": 24.586891, "relative_strength": -6.778658, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 24.685813, "energy": 22.015705, "activity_lines": [ 27.154815, 27.836494, 27.604897, 26.792566 ] }, { "date": "2023-10-06", "close": 26.639419, "volume": 234587, "typical_volume": 285254.25, "trend": 26.023866, "fair_value": 24.673498, "relative_strength": -9.306222, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 7.912496, "energy": 15.974999, "activity_lines": [ 26.881977, 27.506411, 27.589583, 26.836143 ] }, { "date": "2023-10-13", "close": 26.289157, "volume": 168477, "typical_volume": 283272.15, "trend": 26.050866, "fair_value": 24.755281, "relative_strength": -10.298877, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 1.229563, "energy": 15.343333, "activity_lines": [ 26.628393, 27.170377, 27.521889, 26.853258 ] }, { "date": "2023-10-20", "close": 25.734574, "volume": 266413, "typical_volume": 281118.9, "trend": 26.03552, "fair_value": 24.82662, "relative_strength": -9.318332, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -6.440472, "energy": 19.053397, "activity_lines": [ 26.287211, 26.803077, 27.384069, 26.832852 ] }, { "date": "2023-10-27", "close": 28.517216, "volume": 257343, "typical_volume": 278848.75, "trend": 26.146462, "fair_value": 24.922485, "relative_strength": 3.206075, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 22.957926, "energy": 14.72495, "activity_lines": [ 26.976061, 27.023658, 27.502078, 26.992961 ] }, { "date": "2023-11-03", "close": 30.356095, "volume": 643821, "typical_volume": 293452.3, "trend": 26.316765, "fair_value": 25.032031, "relative_strength": 3.266042, "stage": 2, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "up", "direction": 56.595685, "energy": 36.598383, "activity_lines": [ 28.151386, 27.586824, 27.784759, 27.264551 ] }, { "date": "2023-11-10", "close": 30.745276, "volume": 440313, "typical_volume": 297873.4, "trend": 26.511004, "fair_value": 25.12707, "relative_strength": 1.664649, "stage": 2, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "up", "direction": 70.948256, "energy": 65.943307, "activity_lines": [ 29.230714, 28.180036, 28.087558, 27.550261 ] }, { "date": "2023-11-17", "close": 32.204704, "volume": 1448683, "typical_volume": 348995.65, "trend": 26.780976, "fair_value": 25.224898, "relative_strength": 4.412678, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 80.003959, "energy": 81.987784, "activity_lines": [ 30.522794, 29.001039, 28.500063, 27.917597 ] }, { "date": "2023-11-24", "close": 32.778745, "volume": 519998, "typical_volume": 361426.75, "trend": 27.125542, "fair_value": 25.324835, "relative_strength": 5.360649, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 80.141144, "energy": 88.139753, "activity_lines": [ 31.611852, 29.845384, 28.932064, 28.304549 ] }, { "date": "2023-12-01", "close": 33.352787, "volume": 383954, "typical_volume": 364864.45, "trend": 27.482149, "fair_value": 25.430546, "relative_strength": 7.047179, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 80.561239, "energy": 90.12052, "activity_lines": [ 32.422645, 30.693975, 29.384201, 28.706307 ] }, { "date": "2023-12-08", "close": 35.999215, "volume": 812988, "typical_volume": 385539.2, "trend": 27.954054, "fair_value": 25.546856, "relative_strength": 14.705435, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 90.896303, "energy": 95.561868, "activity_lines": [ 33.793209, 31.901319, 30.05596, 29.255795 ] }, { "date": "2023-12-15", "close": 39.239651, "volume": 822878, "typical_volume": 410665.75, "trend": 28.507213, "fair_value": 25.682681, "relative_strength": 20.668047, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 94.903581, "energy": 97.171024, "activity_lines": [ 35.867711, 33.533671, 30.997042, 29.983898 ] }, { "date": "2023-12-22", "close": 40.828735, "volume": 835988, "typical_volume": 437071.85, "trend": 29.113018, "fair_value": 25.832004, "relative_strength": 24.04981, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 93.339774, "energy": 97.096057, "activity_lines": [ 37.905616, 35.225851, 32.044583, 30.778835 ] }, { "date": "2023-12-29", "close": 41.511164, "volume": 358405, "typical_volume": 443326.9, "trend": 29.7032, "fair_value": 25.98647, "relative_strength": 25.327286, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 87.797037, "energy": 95.431466, "activity_lines": [ 39.596062, 36.777754, 33.106103, 31.578716 ] }, { "date": "2024-01-05", "close": 40.234047, "volume": 465412, "typical_volume": 457420.6, "trend": 30.166978, "fair_value": 26.11978, "relative_strength": 25.00743, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 68.477319, "energy": 88.321313, "activity_lines": [ 40.278641, 37.810606, 33.992327, 32.258125 ] }, { "date": "2024-01-12", "close": 40.277917, "volume": 402172, "typical_volume": 468690.15, "trend": 30.616331, "fair_value": 26.254544, "relative_strength": 20.923848, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 66.868845, "energy": 81.335494, "activity_lines": [ 40.517092, 38.638402, 34.829094, 32.910444 ] }, { "date": "2024-01-19", "close": 40.331537, "volume": 327542, "typical_volume": 471459.7, "trend": 31.140885, "fair_value": 26.390297, "relative_strength": 17.526911, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 64.842883, "energy": 65.541533, "activity_lines": [ 40.48817, 39.29555, 35.613058, 33.537231 ] }, { "date": "2024-01-26", "close": 42.40807, "volume": 571602, "typical_volume": 489962.7, "trend": 31.727218, "fair_value": 26.541664, "relative_strength": 22.374768, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 76.525656, "energy": 68.555256, "activity_lines": [ 41.078634, 40.155953, 36.539301, 34.264146 ] }, { "date": "2024-02-02", "close": 40.126808, "volume": 721298, "typical_volume": 513558.1, "trend": 32.213901, "fair_value": 26.668388, "relative_strength": 14.499196, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 61.113322, "energy": 58.469574, "activity_lines": [ 40.803387, 40.416066, 37.178472, 34.806055 ] }, { "date": "2024-02-09", "close": 39.473626, "volume": 654910, "typical_volume": 533530.85, "trend": 32.644853, "fair_value": 26.79347, "relative_strength": 10.804588, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 48.816922, "energy": 47.822255, "activity_lines": [ 40.402704, 40.423818, 37.69422, 35.274425 ] }, { "date": "2024-02-16", "close": 41.013966, "volume": 849512, "typical_volume": 559314.8, "trend": 33.087048, "fair_value": 26.921558, "relative_strength": 16.972081, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 51.877324, "energy": 45.105282, "activity_lines": [ 40.566162, 40.600343, 38.29546, 35.814368 ] }, { "date": "2024-02-23", "close": 40.546014, "volume": 302338, "typical_volume": 562702.35, "trend": 33.44476, "fair_value": 27.04398, "relative_strength": 14.195258, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 46.056463, "energy": 37.646699, "activity_lines": [ 40.524567, 40.600609, 38.785258, 36.295591 ] }, { "date": "2024-03-01", "close": 41.501415, "volume": 397916, "typical_volume": 574174.3, "trend": 33.824292, "fair_value": 27.152284, "relative_strength": 14.718309, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 61.368716, "energy": 42.443656, "activity_lines": [ 40.787139, 40.750832, 39.299825, 36.815375 ] }, { "date": "2024-03-08", "close": 43.480458, "volume": 606086, "typical_volume": 591157.95, "trend": 34.265588, "fair_value": 27.254569, "relative_strength": 21.637042, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 70.187502, "energy": 50.26637, "activity_lines": [ 41.769837, 41.24865, 39.930432, 37.438354 ] }, { "date": "2024-03-15", "close": 38.799193, "volume": 631354, "typical_volume": 609858.5, "trend": 34.593208, "fair_value": 27.341946, "relative_strength": 9.676985, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 53.891771, "energy": 37.096562, "activity_lines": [ 40.968536, 40.859524, 40.030701, 37.730844 ] }, { "date": "2024-03-22", "close": 40.665384, "volume": 884516, "typical_volume": 621893.25, "trend": 35.011495, "fair_value": 27.437643, "relative_strength": 11.432435, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 42.896835, "energy": 30.557893, "activity_lines": [ 40.834261, 40.835794, 40.25974, 38.122598 ] }, { "date": "2024-03-29", "close": 42.189603, "volume": 543733, "typical_volume": 627064.25, "trend": 35.461831, "fair_value": 27.540762, "relative_strength": 15.790195, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 58.2234, "energy": 35.516392, "activity_lines": [ 41.231297, 41.08215, 40.584852, 38.585701 ] }, { "date": "2024-04-05", "close": 40.430889, "volume": 559999, "typical_volume": 582630.05, "trend": 35.88459, "fair_value": 27.633336, "relative_strength": 11.544609, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 37.943126, "energy": 21.076543, "activity_lines": [ 40.932524, 40.974956, 40.687969, 38.906286 ] }, { "date": "2024-04-12", "close": 37.51924, "volume": 458474, "typical_volume": 579553.85, "trend": 36.22617, "fair_value": 27.709917, "relative_strength": 3.864579, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 10.923038, "energy": 7.554732, "activity_lines": [ 39.734568, 40.37432, 40.474615, 39.011747 ] }, { "date": "2024-04-19", "close": 38.252037, "volume": 640516, "typical_volume": 592381.95, "trend": 36.613906, "fair_value": 27.791035, "relative_strength": 11.519149, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 8.02018, "energy": 9.071697, "activity_lines": [ 39.178293, 39.954331, 40.308477, 39.142448 ] }, { "date": "2024-04-26", "close": 38.14456, "volume": 502698, "typical_volume": 576867.45, "trend": 36.986383, "fair_value": 27.87041, "relative_strength": 6.52993, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 4.638579, "energy": 14.098818, "activity_lines": [ 38.62267, 39.537011, 40.108773, 39.2412 ] }, { "date": "2024-05-03", "close": 44.817904, "volume": 1262772, "typical_volume": 598862.15, "trend": 37.592333, "fair_value": 27.976936, "relative_strength": 22.960585, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 50.012919, "energy": 20.424022, "activity_lines": [ 40.459549, 40.385197, 40.53441, 39.74646 ] }, { "date": "2024-05-10", "close": 46.351894, "volume": 702763, "typical_volume": 592200.9, "trend": 38.261091, "fair_value": 28.103093, "relative_strength": 24.214421, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 68.590259, "energy": 52.762437, "activity_lines": [ 42.632539, 41.43462, 41.079578, 40.311593 ] }, { "date": "2024-05-17", "close": 41.818319, "volume": 3396165, "typical_volume": 744088.9, "trend": 38.797216, "fair_value": 28.193346, "relative_strength": 9.042363, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 48.370186, "energy": 50.198964, "activity_lines": [ 42.899603, 41.571566, 41.166677, 40.541091 ] }, { "date": "2024-05-24", "close": 39.864192, "volume": 1047758, "typical_volume": 773206.2, "trend": 39.175448, "fair_value": 28.275, "relative_strength": 2.042795, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 41.305922, "energy": 33.406152, "activity_lines": [ 42.228686, 41.383437, 41.066205, 40.609928 ] }, { "date": "2024-05-31", "close": 39.131394, "volume": 709490, "typical_volume": 788572.1, "trend": 39.467958, "fair_value": 28.352604, "relative_strength": 1.336295, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 29.475545, "energy": 17.333186, "activity_lines": [ 41.206026, 41.042708, 40.897704, 40.607086 ] }, { "date": "2024-06-07", "close": 39.248642, "volume": 1149166, "typical_volume": 829653.3, "trend": 39.751404, "fair_value": 28.436182, "relative_strength": -1.271869, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 14.777425, "energy": 13.699937, "activity_lines": [ 40.15666, 40.751188, 40.74583, 40.592937 ] }, { "date": "2024-06-14", "close": 38.252037, "volume": 935903, "typical_volume": 847868.35, "trend": 39.952981, "fair_value": 28.517913, "relative_strength": -7.173064, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -20.426779, "energy": 22.914333, "activity_lines": [ 39.146376, 40.331939, 40.504197, 40.496203 ] }, { "date": "2024-06-21", "close": 38.869006, "volume": 772278, "typical_volume": 850417.35, "trend": 40.15599, "fair_value": 28.602503, "relative_strength": -6.137898, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -26.771435, "energy": 28.004051, "activity_lines": [ 38.881739, 40.064481, 40.341114, 40.426269 ] }, { "date": "2024-06-28", "close": 39.701423, "volume": 965772, "typical_volume": 865960.45, "trend": 40.367611, "fair_value": 28.696081, "relative_strength": -4.391743, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -24.827421, "energy": 31.758326, "activity_lines": [ 39.091195, 39.923831, 40.263298, 40.396943 ] }, { "date": "2024-07-05", "close": 39.53494, "volume": 500204, "typical_volume": 848495.05, "trend": 40.485469, "fair_value": 28.786928, "relative_strength": -8.257795, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -49.064705, "energy": 34.878592, "activity_lines": [ 39.256008, 39.726559, 40.168542, 40.343222 ] }, { "date": "2024-07-12", "close": 43.031094, "volume": 961850, "typical_volume": 881470.65, "trend": 40.61185, "fair_value": 28.903107, "relative_strength": -0.237865, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -11.886533, "energy": 8.148916, "activity_lines": [ 40.559303, 40.139672, 40.413796, 40.507456 ] }, { "date": "2024-07-19", "close": 47.937461, "volume": 1494536, "typical_volume": 936301.65, "trend": 40.848808, "fair_value": 29.052483, "relative_strength": 15.043494, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 73.627693, "energy": 53.147732, "activity_lines": [ 43.24589, 41.477338, 41.11449, 40.980076 ] }, { "date": "2024-07-26", "close": 51.502167, "volume": 1271526, "typical_volume": 969573.65, "trend": 41.181841, "fair_value": 29.23396, "relative_strength": 25.963441, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 84.452552, "energy": 81.659767, "activity_lines": [ 46.475018, 43.434305, 42.124031, 41.667389 ] }, { "date": "2024-08-02", "close": 39.965838, "volume": 2179684, "typical_volume": 1046990.15, "trend": 41.172901, "fair_value": 29.342865, "relative_strength": 0.67982, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 46.731431, "energy": 58.52014, "activity_lines": [ 45.016491, 43.117687, 41.996675, 41.588937 ] }, { "date": "2024-08-09", "close": 39.192179, "volume": 1027769, "typical_volume": 1054152.8, "trend": 41.13671, "fair_value": 29.446609, "relative_strength": -1.715741, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 36.415569, "energy": 41.664685, "activity_lines": [ 43.282451, 42.658556, 41.790083, 41.461149 ] }, { "date": "2024-08-16", "close": 42.756885, "volume": 868927, "typical_volume": 1070412.5, "trend": 41.217555, "fair_value": 29.577382, "relative_strength": 1.477828, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 35.373759, "energy": 19.920934, "activity_lines": [ 42.759497, 42.846448, 41.930001, 41.565676 ] }, { "date": "2024-08-23", "close": 45.410829, "volume": 1243150, "typical_volume": 1104570.05, "trend": 41.317647, "fair_value": 29.720664, "relative_strength": 6.272819, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 42.562491, "energy": 24.206125, "activity_lines": [ 43.139471, 43.453089, 42.319975, 41.83621 ] }, { "date": "2024-08-30", "close": 44.901585, "volume": 909474, "typical_volume": 1127120.05, "trend": 41.476806, "fair_value": 29.860885, "relative_strength": 5.498371, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 40.754024, "energy": 18.849028, "activity_lines": [ 43.518139, 43.836981, 42.637735, 42.067432 ] }, { "date": "2024-09-06", "close": 42.482677, "volume": 1085786, "typical_volume": 1149383.55, "trend": 41.577108, "fair_value": 29.985113, "relative_strength": 5.50336, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 34.52387, "energy": 20.584326, "activity_lines": [ 43.530544, 43.671387, 42.689969, 42.132327 ] }, { "date": "2024-09-13", "close": 43.080059, "volume": 716661, "typical_volume": 1160081.7, "trend": 41.645977, "fair_value": 30.110401, "relative_strength": 0.631246, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 44.680256, "energy": 24.256055, "activity_lines": [ 43.574287, 43.563841, 42.778951, 42.229292 ] }, { "date": "2024-09-20", "close": 44.718868, "volume": 788795, "typical_volume": 1136382.85, "trend": 41.785072, "fair_value": 30.246153, "relative_strength": 2.529885, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 51.302768, "energy": 25.248275, "activity_lines": [ 43.905107, 43.689803, 43.000507, 42.427543 ] }, { "date": "2024-09-27", "close": 43.688479, "volume": 337389, "typical_volume": 1118114.15, "trend": 41.857975, "fair_value": 30.360942, "relative_strength": -1.151567, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 44.523935, "energy": 20.012613, "activity_lines": [ 43.761666, 43.597734, 43.124403, 42.550343 ] }, { "date": "2024-10-04", "close": 43.462775, "volume": 329187, "typical_volume": 964765.25, "trend": 41.857385, "fair_value": 30.469037, "relative_strength": -2.101591, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 42.383943, "energy": 18.883471, "activity_lines": [ 43.657813, 43.541883, 43.239486, 42.653879 ] }, { "date": "2024-10-11", "close": 44.031942, "volume": 479203, "typical_volume": 936337.5, "trend": 42.03181, "fair_value": 30.581472, "relative_strength": -2.379701, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 44.332274, "energy": 20.84202, "activity_lines": [ 43.839603, 43.735688, 43.400945, 42.794173 ] }, { "date": "2024-10-18", "close": 44.081008, "volume": 1173762, "typical_volume": 959551.1, "trend": 42.145664, "fair_value": 30.689828, "relative_strength": -2.818955, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 45.146131, "energy": 20.543524, "activity_lines": [ 43.934464, 43.864484, 43.54723, 42.926379 ] }, { "date": "2024-10-25", "close": 42.157616, "volume": 724183, "typical_volume": 938301.95, "trend": 42.144598, "fair_value": 30.779347, "relative_strength": -7.256907, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 26.053493, "energy": 11.136522, "activity_lines": [ 43.321464, 43.554685, 43.486765, 42.92715 ] }, { "date": "2024-11-01", "close": 35.641634, "volume": 1439806, "typical_volume": 963497.1, "trend": 41.984956, "fair_value": 30.812617, "relative_strength": -20.155023, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "mixed", "direction": -36.33564, "energy": 41.955407, "activity_lines": [ 40.707221, 42.071058, 42.791879, 42.507604 ] }, { "date": "2024-11-08", "close": 38.624855, "volume": 1032219, "typical_volume": 976494.15, "trend": 42.02181, "fair_value": 30.868914, "relative_strength": -17.851864, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -23.146328, "energy": 45.479318, "activity_lines": [ 39.623841, 41.307456, 42.393539, 42.290823 ] }, { "date": "2024-11-15", "close": 39.439353, "volume": 682986, "typical_volume": 962354.85, "trend": 42.061387, "fair_value": 30.92848, "relative_strength": -13.068097, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -27.941235, "energy": 51.954555, "activity_lines": [ 39.134488, 40.806067, 42.073933, 42.124213 ] }, { "date": "2024-11-22", "close": 40.322543, "volume": 1163678, "typical_volume": 995528.55, "trend": 42.133987, "fair_value": 30.998995, "relative_strength": -12.649458, "stage": 4, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -56.198289, "energy": 62.045565, "activity_lines": [ 39.245705, 40.520592, 41.839688, 42.01203 ] }, { "date": "2024-11-29", "close": 40.508994, "volume": 400286, "typical_volume": 967450.35, "trend": 41.990356, "fair_value": 31.076156, "relative_strength": -12.803403, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -53.190239, "energy": 37.414027, "activity_lines": [ 39.669636, 40.319153, 41.61945, 41.907191 ] }, { "date": "2024-12-06", "close": 38.271579, "volume": 517360, "typical_volume": 918591.55, "trend": 41.721012, "fair_value": 31.139382, "relative_strength": -19.905424, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -61.124646, "energy": 35.352837, "activity_lines": [ 39.457671, 39.787455, 41.198135, 41.66727 ] }, { "date": "2024-12-13", "close": 37.84961, "volume": 488772, "typical_volume": 879453.85, "trend": 41.588722, "fair_value": 31.199611, "relative_strength": -20.955628, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -61.638952, "energy": 37.104976, "activity_lines": [ 38.929719, 39.277524, 40.782661, 41.417502 ] }, { "date": "2024-12-20", "close": 35.557781, "volume": 1128740, "typical_volume": 826906.65, "trend": 41.445175, "fair_value": 31.235041, "relative_strength": -23.522481, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -72.629702, "energy": 58.533335, "activity_lines": [ 37.689508, 38.452954, 40.213929, 41.028409 ] }, { "date": "2024-12-27", "close": 35.744668, "volume": 507836, "typical_volume": 800910.0, "trend": 41.332284, "fair_value": 31.271261, "relative_strength": -23.264279, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -69.150091, "energy": 69.469045, "activity_lines": [ 36.770363, 37.81644, 39.683986, 40.660635 ] }, { "date": "2025-01-03", "close": 36.157788, "volume": 725160, "typical_volume": 793721.65, "trend": 41.229256, "fair_value": 31.302508, "relative_strength": -21.233044, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -64.276135, "energy": 70.104865, "activity_lines": [ 36.294117, 37.406608, 39.209805, 40.326796 ] }, { "date": "2025-01-10", "close": 34.180716, "volume": 577989, "typical_volume": 760463.6, "trend": 41.093545, "fair_value": 31.320021, "relative_strength": -23.342617, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -75.080942, "energy": 76.034221, "activity_lines": [ 35.448927, 36.746396, 38.578756, 39.872052 ] }, { "date": "2025-01-17", "close": 38.036498, "volume": 667097, "typical_volume": 748344.75, "trend": 41.065795, "fair_value": 31.383181, "relative_strength": -16.647081, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -60.413872, "energy": 48.312629, "activity_lines": [ 36.161722, 36.813798, 38.368401, 39.674823 ] }, { "date": "2025-01-24", "close": 38.361091, "volume": 711242, "typical_volume": 729617.55, "trend": 41.021117, "fair_value": 31.451906, "relative_strength": -16.670921, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -45.726995, "energy": 31.666867, "activity_lines": [ 36.970256, 36.950914, 38.221651, 39.500326 ] }, { "date": "2025-01-31", "close": 41.243091, "volume": 1471161, "typical_volume": 767342.55, "trend": 41.078055, "fair_value": 31.525472, "relative_strength": -8.84654, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -19.709039, "energy": 15.344722, "activity_lines": [ 38.552569, 37.631635, 38.369003, 39.514647 ] }, { "date": "2025-02-07", "close": 42.354579, "volume": 756103, "typical_volume": 765707.95, "trend": 41.055505, "fair_value": 31.609525, "relative_strength": -6.297719, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": 1.011969, "energy": 22.457106, "activity_lines": [ 40.138816, 38.497707, 38.630959, 39.597003 ] }, { "date": "2025-02-14", "close": 42.48245, "volume": 738798, "typical_volume": 785778.4, "trend": 40.873671, "fair_value": 31.697944, "relative_strength": -8.330454, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "mixed", "direction": 29.653779, "energy": 38.449226, "activity_lines": [ 41.354568, 39.353472, 38.916351, 39.689064 ] }, { "date": "2025-02-21", "close": 40.790627, "volume": 413670, "typical_volume": 790002.55, "trend": 40.51662, "fair_value": 31.779064, "relative_strength": -9.641986, "stage": 4, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 21.743679, "energy": 42.035503, "activity_lines": [ 41.45293, 39.825072, 39.04636, 39.683706 ] }, { "date": "2025-02-28", "close": 40.052914, "volume": 618633, "typical_volume": 796974.05, "trend": 40.519522, "fair_value": 31.866704, "relative_strength": -7.842075, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 19.57971, "energy": 35.213236, "activity_lines": [ 41.121778, 40.109069, 39.118836, 39.65379 ] }, { "date": "2025-03-07", "close": 38.046334, "volume": 853059, "typical_volume": 780938.9, "trend": 40.481328, "fair_value": 31.940932, "relative_strength": -9.088184, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "down", "direction": -17.190967, "energy": 14.398969, "activity_lines": [ 40.008979, 39.946504, 39.019156, 39.494229 ] }, { "date": "2025-03-14", "close": 37.377474, "volume": 599204, "typical_volume": 774689.95, "trend": 40.302014, "fair_value": 32.004689, "relative_strength": -8.178363, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -42.692965, "energy": 24.977646, "activity_lines": [ 38.886343, 39.62048, 38.884512, 39.293981 ] }, { "date": "2025-03-21", "close": 37.693062, "volume": 878104, "typical_volume": 746604.85, "trend": 40.044755, "fair_value": 32.06765, "relative_strength": -7.354669, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -41.973977, "energy": 31.17775, "activity_lines": [ 38.200711, 39.329659, 38.802687, 39.125661 ] }, { "date": "2025-03-28", "close": 36.52933, "volume": 892124, "typical_volume": 739600.1, "trend": 39.76568, "fair_value": 32.133815, "relative_strength": -7.699916, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -52.175833, "energy": 38.512205, "activity_lines": [ 37.44646, 38.763389, 38.600261, 38.89886 ] }, { "date": "2025-04-04", "close": 32.969101, "volume": 977015, "typical_volume": 754301.55, "trend": 39.448561, "fair_value": 32.186782, "relative_strength": -7.273181, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -78.631266, "energy": 68.601957, "activity_lines": [ 35.789553, 37.577209, 38.068745, 38.460371 ] }, { "date": "2025-04-11", "close": 30.947365, "volume": 1112913, "typical_volume": 751763.3, "trend": 39.044138, "fair_value": 32.227891, "relative_strength": -18.702346, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -84.430122, "energy": 80.508044, "activity_lines": [ 33.930988, 36.121476, 37.375492, 37.911906 ] }, { "date": "2025-04-18", "close": 32.071648, "volume": 578970, "typical_volume": 760697.5, "trend": 38.622563, "fair_value": 32.277801, "relative_strength": -13.385375, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -74.049089, "energy": 81.567767, "activity_lines": [ 32.920448, 35.057353, 36.833959, 37.462068 ] }, { "date": "2025-04-25", "close": 31.992751, "volume": 789642, "typical_volume": 774311.6, "trend": 38.232706, "fair_value": 32.338728, "relative_strength": -18.400374, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -69.168628, "energy": 79.742632, "activity_lines": [ 32.237332, 34.165847, 36.325089, 37.034339 ] }, { "date": "2025-05-02", "close": 30.87833, "volume": 1285182, "typical_volume": 814132.1, "trend": 37.813224, "fair_value": 32.39576, "relative_strength": -23.14488, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -72.065735, "energy": 78.324435, "activity_lines": [ 31.562762, 33.262442, 35.739983, 36.559863 ] }, { "date": "2025-05-09", "close": 31.036124, "volume": 828589, "typical_volume": 799124.55, "trend": 37.38003, "fair_value": 32.452025, "relative_strength": -21.850042, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -67.960564, "energy": 65.77083, "activity_lines": [ 31.317524, 32.56795, 35.203101, 36.12263 ] }, { "date": "2025-05-16", "close": 32.909929, "volume": 862455, "typical_volume": 816855.5, "trend": 37.007661, "fair_value": 32.518586, "relative_strength": -21.907223, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -62.212666, "energy": 48.345132, "activity_lines": [ 31.825752, 32.378091, 34.866209, 35.834237 ] }, { "date": "2025-05-23", "close": 31.026262, "volume": 568511, "typical_volume": 809023.05, "trend": 36.636616, "fair_value": 32.564737, "relative_strength": -24.121833, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -65.38937, "energy": 47.308267, "activity_lines": [ 31.575254, 31.939137, 34.363419, 35.44834 ] }, { "date": "2025-05-30", "close": 31.578541, "volume": 595609, "typical_volume": 809904.05, "trend": 36.50118, "fair_value": 32.60738, "relative_strength": -23.755328, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -59.408471, "energy": 41.426107, "activity_lines": [ 31.578541, 31.716073, 33.937662, 35.122013 ] }, { "date": "2025-06-06", "close": 32.042061, "volume": 584814, "typical_volume": 805789.9, "trend": 36.281753, "fair_value": 32.667274, "relative_strength": -23.758116, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -47.137473, "energy": 33.637231, "activity_lines": [ 31.763949, 31.688459, 33.568442, 34.834328 ] }, { "date": "2025-06-13", "close": 30.937503, "volume": 671578, "typical_volume": 803806.7, "trend": 35.998358, "fair_value": 32.726292, "relative_strength": -25.583033, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -61.31717, "energy": 40.374845, "activity_lines": [ 31.503589, 31.541603, 33.12257, 34.489537 ] }, { "date": "2025-06-20", "close": 31.056227, "volume": 725464, "typical_volume": 766521.85, "trend": 35.689481, "fair_value": 32.785334, "relative_strength": -24.867143, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -57.628889, "energy": 37.750331, "activity_lines": [ 31.289378, 31.453271, 32.723356, 34.17069 ] }, { "date": "2025-06-27", "close": 33.044854, "volume": 1655404, "typical_volume": 811486.9, "trend": 35.440676, "fair_value": 32.85491, "relative_strength": -22.807087, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -43.104969, "energy": 27.560956, "activity_lines": [ 31.861623, 31.724529, 32.562044, 34.000069 ] }, { "date": "2025-07-04", "close": 35.261036, "volume": 727936, "typical_volume": 810943.8, "trend": 35.340325, "fair_value": 32.941335, "relative_strength": -18.498265, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -22.442659, "energy": 13.718694, "activity_lines": [ 33.038023, 32.381034, 32.656129, 33.988479 ] }, { "date": "2025-07-11", "close": 34.548692, "volume": 1203962, "typical_volume": 850458.4, "trend": 35.230294, "fair_value": 33.025438, "relative_strength": -19.35306, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -8.705986, "energy": 15.018423, "activity_lines": [ 33.731475, 32.848599, 32.71676, 33.937406 ] }, { "date": "2025-07-18", "close": 34.459649, "volume": 695785, "typical_volume": 854316.0, "trend": 35.19369, "fair_value": 33.098551, "relative_strength": -19.773672, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -6.066592, "energy": 19.014927, "activity_lines": [ 34.228137, 33.23324, 32.798633, 33.887687 ] }, { "date": "2025-07-25", "close": 34.321137, "volume": 806695, "typical_volume": 851997.8, "trend": 35.146239, "fair_value": 33.155899, "relative_strength": -19.783705, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -4.793226, "energy": 19.946371, "activity_lines": [ 34.443819, 33.530451, 32.89395, 33.831393 ] }, { "date": "2025-08-01", "close": 28.869726, "volume": 1339447, "typical_volume": 889009.95, "trend": 34.903303, "fair_value": 33.173322, "relative_strength": -30.339496, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -52.110401, "energy": 23.822666, "activity_lines": [ 32.624703, 32.810838, 32.487823, 33.426457 ] }, { "date": "2025-08-08", "close": 30.413138, "volume": 1195566, "typical_volume": 904883.05, "trend": 34.777717, "fair_value": 33.19357, "relative_strength": -28.621316, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -47.490018, "energy": 39.741073, "activity_lines": [ 31.5984, 32.411055, 32.269201, 33.136769 ] }, { "date": "2025-08-15", "close": 31.639953, "volume": 668162, "typical_volume": 893684.95, "trend": 34.564499, "fair_value": 33.223895, "relative_strength": -25.410191, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -39.612994, "energy": 39.528623, "activity_lines": [ 31.304228, 32.255519, 32.202086, 32.934333 ] }, { "date": "2025-08-22", "close": 32.936024, "volume": 1220879, "typical_volume": 905878.15, "trend": 34.383664, "fair_value": 33.265418, "relative_strength": -20.847837, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -37.460401, "energy": 32.889557, "activity_lines": [ 31.635996, 32.342943, 32.281688, 32.82927 ] }, { "date": "2025-08-29", "close": 32.075275, "volume": 1000252, "typical_volume": 900245.1, "trend": 34.07807, "fair_value": 33.308123, "relative_strength": -21.908022, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -44.495843, "energy": 26.548962, "activity_lines": [ 31.782422, 32.237531, 32.279471, 32.680341 ] }, { "date": "2025-09-05", "close": 32.471021, "volume": 597081, "typical_volume": 901150.65, "trend": 33.748618, "fair_value": 33.352382, "relative_strength": -20.900746, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -30.421428, "energy": 12.548982, "activity_lines": [ 32.210488, 32.185544, 32.309574, 32.576661 ] }, { "date": "2025-09-12", "close": 32.292935, "volume": 927208, "typical_volume": 908028.95, "trend": 33.408967, "fair_value": 33.40034, "relative_strength": -21.996212, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -27.495882, "energy": 12.833859, "activity_lines": [ 32.339106, 32.111611, 32.320814, 32.482746 ] }, { "date": "2025-09-19", "close": 31.976338, "volume": 815659, "typical_volume": 884552.8, "trend": 33.115158, "fair_value": 33.460448, "relative_strength": -23.5661, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -29.398219, "energy": 12.034831, "activity_lines": [ 32.236871, 32.034081, 32.300473, 32.390318 ] }, { "date": "2025-09-26", "close": 31.807623, "volume": 573825, "typical_volume": 871814.6, "trend": 32.840315, "fair_value": 33.522125, "relative_strength": -22.843495, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -32.930362, "energy": 14.164426, "activity_lines": [ 32.055973, 31.972645, 32.258835, 32.305961 ] }, { "date": "2025-10-03", "close": 31.926716, "volume": 718286, "typical_volume": 864606.15, "trend": 32.636328, "fair_value": 33.582654, "relative_strength": -22.690863, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -35.17116, "energy": 16.39602, "activity_lines": [ 31.989998, 31.981081, 32.224866, 32.247019 ] }, { "date": "2025-10-10", "close": 30.9839, "volume": 879035, "typical_volume": 880132.35, "trend": 32.423208, "fair_value": 33.63529, "relative_strength": -22.422964, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -54.115529, "energy": 29.977298, "activity_lines": [ 31.619656, 31.861631, 32.105786, 32.140411 ] }, { "date": "2025-10-17", "close": 30.676245, "volume": 1105585, "typical_volume": 905631.15, "trend": 32.189314, "fair_value": 33.686263, "relative_strength": -24.192959, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -57.302658, "energy": 39.709776, "activity_lines": [ 31.245904, 31.647805, 31.957608, 32.027704 ] }, { "date": "2025-10-24", "close": 32.631347, "volume": 749956, "typical_volume": 913888.25, "trend": 32.059382, "fair_value": 33.746439, "relative_strength": -20.33512, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -39.473291, "energy": 21.635426, "activity_lines": [ 31.631631, 31.784667, 31.999926, 32.056222 ] }, { "date": "2025-10-31", "close": 30.954127, "volume": 918669, "typical_volume": 926242.8, "trend": 31.992216, "fair_value": 33.799131, "relative_strength": -25.342051, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -54.318304, "energy": 35.459184, "activity_lines": [ 31.414618, 31.598555, 31.879703, 31.984915 ] }, { "date": "2025-11-07", "close": 31.281632, "volume": 915647, "typical_volume": 935751.95, "trend": 32.003358, "fair_value": 33.848682, "relative_strength": -21.606242, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -48.774265, "energy": 27.576748, "activity_lines": [ 31.363673, 31.508024, 31.790592, 31.939071 ] }, { "date": "2025-11-14", "close": 31.728228, "volume": 625405, "typical_volume": 884252.0, "trend": 31.991911, "fair_value": 33.898445, "relative_strength": -19.717793, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -43.714567, "energy": 18.271564, "activity_lines": [ 31.504599, 31.513122, 31.742941, 31.921321 ] }, { "date": "2025-11-21", "close": 31.192312, "volume": 778458, "typical_volume": 886778.1, "trend": 31.965229, "fair_value": 33.942246, "relative_strength": -17.896833, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -48.995693, "energy": 27.181975, "activity_lines": [ 31.417265, 31.434286, 31.650519, 31.869734 ] }, { "date": "2025-11-28", "close": 32.442784, "volume": 437236, "typical_volume": 848441.8, "trend": 32.017378, "fair_value": 33.993816, "relative_strength": -17.95534, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -22.42592, "energy": 9.477893, "activity_lines": [ 31.71235, 31.602821, 31.696565, 31.900544 ] }, { "date": "2025-12-05", "close": 34.129927, "volume": 938212, "typical_volume": 860563.15, "trend": 32.120505, "fair_value": 34.059375, "relative_strength": -14.06927, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 23.20943, "energy": 20.832853, "activity_lines": [ 32.582386, 32.069627, 31.91332, 32.036837 ] }, { "date": "2025-12-12", "close": 35.956012, "volume": 882194, "typical_volume": 864338.1, "trend": 32.222041, "fair_value": 34.138898, "relative_strength": -7.353608, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 74.684018, "energy": 65.880927, "activity_lines": [ 33.849398, 32.826225, 32.305557, 32.284289 ] }, { "date": "2025-12-19", "close": 34.939375, "volume": 930589, "typical_volume": 843895.2, "trend": 32.352478, "fair_value": 34.211162, "relative_strength": -10.137516, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 64.884259, "energy": 69.171235, "activity_lines": [ 34.465906, 33.32472, 32.593187, 32.459601 ] }, { "date": "2025-12-26", "close": 33.55613, "volume": 686059, "typical_volume": 818419.85, "trend": 32.418398, "fair_value": 34.275919, "relative_strength": -14.360158, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 58.344736, "energy": 65.193808, "activity_lines": [ 34.407255, 33.499799, 32.720176, 32.537256 ] }, { "date": "2026-01-02", "close": 33.018754, "volume": 934623, "typical_volume": 831742.9, "trend": 32.450954, "fair_value": 34.335562, "relative_strength": -13.823344, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 56.566763, "energy": 53.067182, "activity_lines": [ 34.011891, 33.524811, 32.78102, 32.575989 ] }, { "date": "2026-01-09", "close": 35.695681, "volume": 681061, "typical_volume": 804752.0, "trend": 32.60956, "fair_value": 34.407544, "relative_strength": -8.545202, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 68.424146, "energy": 41.177664, "activity_lines": [ 34.470438, 34.029493, 33.090243, 32.785326 ] }, { "date": "2026-01-16", "close": 35.198111, "volume": 440738, "typical_volume": 776776.3, "trend": 32.747623, "fair_value": 34.474913, "relative_strength": -8.568642, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 61.202376, "energy": 37.156198, "activity_lines": [ 34.658745, 34.357498, 33.338937, 32.952329 ] }, { "date": "2026-01-23", "close": 34.69059, "volume": 429855, "typical_volume": 768415.0, "trend": 32.802481, "fair_value": 34.537051, "relative_strength": -9.61904, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 53.747483, "energy": 34.828438, "activity_lines": [ 34.728405, 34.522018, 33.524426, 33.077682 ] }, { "date": "2026-01-30", "close": 41.258515, "volume": 1430991, "typical_volume": 793604.15, "trend": 33.002397, "fair_value": 34.611185, "relative_strength": 8.078503, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 87.20384, "energy": 78.592727, "activity_lines": [ 37.003959, 35.826845, 34.324862, 33.623232 ] }, { "date": "2026-02-06", "close": 42.273559, "volume": 1143229, "typical_volume": 809982.65, "trend": 33.259892, "fair_value": 34.692197, "relative_strength": 13.385549, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 87.643019, "energy": 88.750667, "activity_lines": [ 39.104369, 37.133203, 35.179275, 34.221372 ] }, { "date": "2026-02-13", "close": 47.398531, "volume": 8192685, "typical_volume": 1190925.65, "trend": 33.691188, "fair_value": 34.80569, "relative_strength": 28.788306, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 94.479515, "energy": 96.857571, "activity_lines": [ 42.296115, 39.192633, 36.472747, 35.133542 ] }, { "date": "2026-02-20", "close": 45.109708, "volume": 1275324, "typical_volume": 1218777.55, "trend": 34.050807, "fair_value": 34.908467, "relative_strength": 21.32831, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 76.961573, "energy": 91.265948, "activity_lines": [ 43.944731, 40.594666, 37.473993, 35.870221 ] }, { "date": "2026-02-27", "close": 42.07453, "volume": 1211572, "typical_volume": 1235404.4, "trend": 34.490967, "fair_value": 34.990057, "relative_strength": 13.80394, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 66.30602, "energy": 86.305187, "activity_lines": [ 43.920847, 41.278418, 38.123399, 36.38788 ] }, { "date": "2026-03-06", "close": 41.328175, "volume": 1172170, "typical_volume": 1238733.65, "trend": 34.854802, "fair_value": 35.095733, "relative_strength": 13.507569, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 65.233169, "energy": 64.383149, "activity_lines": [ 43.155916, 41.696739, 38.64891, 36.828991 ] }, { "date": "2026-03-13", "close": 41.567009, "volume": 1178307, "typical_volume": 1260151.2, "trend": 35.185704, "fair_value": 35.198861, "relative_strength": 15.627179, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 60.232021, "energy": 50.328084, "activity_lines": [ 42.465952, 42.017174, 39.146444, 37.262036 ] }, { "date": "2026-03-20", "close": 41.098058, "volume": 1593283, "typical_volume": 1293881.9, "trend": 35.457772, "fair_value": 35.294393, "relative_strength": 16.916414, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 45.111913, "energy": 34.873342, "activity_lines": [ 41.666775, 42.096923, 39.556765, 37.643478 ] }, { "date": "2026-03-27", "close": 42.175647, "volume": 855749, "typical_volume": 1290887.0, "trend": 35.794451, "fair_value": 35.403282, "relative_strength": 24.11235, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 42.282278, "energy": 31.311772, "activity_lines": [ 41.646825, 42.274371, 40.02141, 38.07689 ] }, { "date": "2026-04-03", "close": 44.390692, "volume": 748262, "typical_volume": 1297029.85, "trend": 36.191773, "fair_value": 35.525998, "relative_strength": 25.728341, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 55.14797, "energy": 38.737851, "activity_lines": [ 42.560828, 42.727691, 40.645135, 38.631486 ] }, { "date": "2026-04-10", "close": 47.114598, "volume": 926750, "typical_volume": 1304444.45, "trend": 36.685828, "fair_value": 35.668283, "relative_strength": 27.393981, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 75.447284, "energy": 53.579691, "activity_lines": [ 44.228388, 43.499902, 41.467982, 39.336184 ] }, { "date": "2026-04-17", "close": 48.800826, "volume": 980774, "typical_volume": 1331621.35, "trend": 37.246645, "fair_value": 35.826586, "relative_strength": 24.165825, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 77.956764, "energy": 71.365006, "activity_lines": [ 46.072263, 44.472224, 42.375601, 40.117797 ] }, { "date": "2026-04-24", "close": 48.850714, "volume": 772774, "typical_volume": 1323349.45, "trend": 37.814748, "fair_value": 35.995875, "relative_strength": 21.395407, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 73.608349, "energy": 80.110856, "activity_lines": [ 47.450513, 45.33494, 43.210077, 40.866447 ] }, { "date": "2026-05-01", "close": 46.495982, "volume": 1033257, "typical_volume": 1330902.6, "trend": 38.30039, "fair_value": 36.148704, "relative_strength": 13.582971, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 64.269882, "energy": 76.838766, "activity_lines": [ 47.527009, 45.743119, 43.750193, 41.426526 ] }, { "date": "2026-05-08", "close": 46.226585, "volume": 665944, "typical_volume": 1317670.35, "trend": 38.808479, "fair_value": 36.305015, "relative_strength": 6.9983, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 62.738387, "energy": 61.313635, "activity_lines": [ 47.225683, 46.077112, 44.214462, 41.937894 ] }, { "date": "2026-05-15", "close": 44.27096, "volume": 619896, "typical_volume": 1314362.2, "trend": 39.261637, "fair_value": 36.443644, "relative_strength": 2.833163, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 57.466564, "energy": 43.861677, "activity_lines": [ 46.150089, 45.980045, 44.438733, 42.290312 ] }, { "date": "2026-05-22", "close": 45.887344, "volume": 558986, "typical_volume": 1295580.35, "trend": 39.703503, "fair_value": 36.592572, "relative_strength": 5.215473, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 43.097643, "energy": 31.397899, "activity_lines": [ 45.802866, 46.123361, 44.765921, 42.717777 ] }, { "date": "2026-05-29", "close": 47.034777, "volume": 369749, "typical_volume": 1280014.75, "trend": 40.239525, "fair_value": 36.741476, "relative_strength": 4.724739, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 47.963192, "energy": 32.522071, "activity_lines": [ 46.032353, 46.39675, 45.141111, 43.190762 ] }, { "date": "2026-06-05", "close": 47.403951, "volume": 584390, "typical_volume": 1287197.35, "trend": 40.776936, "fair_value": 36.876625, "relative_strength": 10.296009, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 49.851943, "energy": 34.10217, "activity_lines": [ 46.50596, 46.62932, 45.497464, 43.652983 ] }, { "date": "2026-06-12", "close": 49.998147, "volume": 546499, "typical_volume": 1293029.55, "trend": 41.385933, "fair_value": 37.025348, "relative_strength": 13.335117, "stage": 2, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "up", "direction": 74.905761, "energy": 52.062366, "activity_lines": [ 47.783768, 47.238503, 46.04276, 44.2479 ] }, { "date": "2026-06-19", "close": 49.09, "volume": 713089, "typical_volume": 1257134.45, "trend": 41.982522, "fair_value": 37.182368, "relative_strength": 8.137819, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 65.33238, "energy": 57.336905, "activity_lines": [ 48.507423, 47.580614, 46.428672, 44.744937 ] }, { "date": "2026-06-26", "close": 50.01, "volume": 1677635, "typical_volume": 1283854.75, "trend": 42.568096, "fair_value": 37.343855, "relative_strength": 14.98423, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 69.340323, "energy": 64.593211, "activity_lines": [ 49.216475, 48.054082, 46.864912, 45.262839 ] }, { "date": "2026-07-03", "close": 48.82, "volume": 842527, "typical_volume": 916346.85, "trend": 43.057765, "fair_value": 37.493173, "relative_strength": 11.120965, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 62.028567, "energy": 58.21783, "activity_lines": [ 49.254016, 48.289201, 47.150977, 45.666187 ] }, { "date": "2026-07-10", "close": 48.02, "volume": 632593, "typical_volume": 884210.3, "trend": 43.459898, "fair_value": 37.630833, "relative_strength": 7.2341, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 57.499457, "energy": 42.005101, "activity_lines": [ 48.905876, 48.379423, 47.354083, 45.986331 ] }, { "date": "2026-07-17", "close": 49.71, "volume": 749256, "typical_volume": 861094.5, "trend": 43.952252, "fair_value": 37.771614, "relative_strength": 15.471217, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 61.968566, "energy": 41.673066, "activity_lines": [ 49.08, 48.749209, 47.704283, 46.389564 ] }, { "date": "2026-07-24", "close": 47.69, "volume": 870252, "typical_volume": 845998.6, "trend": 44.423381, "fair_value": 37.8862, "relative_strength": 12.266537, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 41.534627, "energy": 26.56474, "activity_lines": [ 48.6, 48.688388, 47.825743, 46.630709 ] }, { "date": "2026-07-31", "close": 55.18, "volume": 1129969, "typical_volume": 843581.7, "trend": 45.16209, "fair_value": 38.04687, "relative_strength": 28.082234, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 80.670305, "energy": 50.515725, "activity_lines": [ 50.71, 49.92722, 48.630242, 47.324684 ] }, { "date": "2026-08-07", "close": 54.25, "volume": 728970, "typical_volume": 800366.05, "trend": 45.780567, "fair_value": 38.20077, "relative_strength": 19.020373, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 73.425738, "energy": 63.399921, "activity_lines": [ 52.165333, 50.828004, 49.281345, 47.911001 ] } ], "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." } } }