{ "ticker": { "uuid": "8acece2d-fd8e-47d0-9c70-b6cdd926ff49", "symbol": "EUM", "name": "PROSHARES SHORT MSCI EMERGING MARKETS", "exchange": "NYSEARCA", "country": "US", "assetType": "etf" }, "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": "downward_expansion", "architecture_regime_label": "Downward Expansion", "architecture_modifier": "Established contraction", "architecture_gate": "down", "architecture_direction": -33.725, "architecture_energy": 20.702, "architecture_maturity": 87.272, "architecture_confidence": 66.771, "architecture_tenure": "Established", "architecture": { "interpretation": { "headline": "The weekly architecture is expanding downward.", "body": "Trend and Activity show sustained negative alignment with weak price acceptance. Repair requires persistent improvement across the structure, not merely one strong observation." }, "scores": { "balance": 49.97, "rotation_up": 30.43, "upward_expansion": 17.98, "deceleration": 46.7, "rotation_down": 23.47, "downward_expansion": 54.32 }, "activity_lines": [ 16.3786, 16.20932, 16.258704, 16.715207 ], "activity_state": "Compressed", "activity_direction": "Contracting", "rotation_direction": "Improving", "price_acceptance": -0.166667 }, "latest_close": 16.08, "trend_reference": 17.288395, "distance_from_trend": -0.069896, "trend_direction": "Weakening", "fair_value": 23.169908, "distance_from_fair_value": -0.305996, "fair_value_direction": "Improving", "relative_strength": -23.766236, "relative_strength_direction": "Improving", "price_momentum": -0.118899, "excess_performance": -0.244524, "evidence": [ { "label": "Price vs Trend", "positive": false, "value": -0.069896, "read": "Below" }, { "label": "Trend direction", "positive": false, "value": -0.071596, "read": "Falling" }, { "label": "Price vs current Fair Value", "positive": false, "value": -0.305996, "read": "Below anchor" }, { "label": "Fair Value direction", "positive": true, "value": 0.034785, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.237662, "read": "Lagging" }, { "label": "Relative strength direction", "positive": true, "value": 0.076183, "read": "Improving" }, { "label": "Price momentum", "positive": false, "value": -0.118899, "read": "Negative" }, { "label": "Volume balance", "positive": false, "value": 0.665411, "read": "Supply-led" } ], "volume": { "latest": 749681, "relative_activity": 1.178375, "balance": 0.665411, "dry_up": 0.840422, "accumulation_observations": 1, "distribution_observations": 3 }, "risk": { "range_context": 0.057527, "annualized_volatility": 0.275477, "from_high_reference": -0.282838, "from_low_reference": 0.082836 }, "levels": { "trend_reference": 17.288395, "fair_value_reference": 23.169908, "structural_low": 14.84989, "invalidation": "Reclaiming a flat-to-rising Trend with improving relative strength is required before the declining diagnosis is repaired." }, "outcomes": [ { "horizon": "Near term", "sample_count": 25, "median_return": -0.009962, "positive_rate": 0.44, "directional_follow_through": 0.56, "median_excess_return": -0.033081, "regime_survival": 0.88, "best_return": 0.127777, "worst_return": -0.145439, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 8, "median_return": -0.032454, "positive_rate": 0.25, "directional_follow_through": 0.75, "median_excess_return": -0.080645, "regime_survival": 0.625, "best_return": 0.110333, "worst_return": -0.154829, "sufficient": true }, { "horizon": "Extended", "sample_count": 5, "median_return": -0.046919, "positive_rate": 0.4, "directional_follow_through": 0.6, "median_excess_return": -0.153032, "regime_survival": 0.4, "best_return": 0.158791, "worst_return": -0.216748, "sufficient": true }, { "horizon": "Full cycle", "sample_count": 3, "median_return": -0.035832, "positive_rate": 0.333333, "directional_follow_through": 0.666667, "median_excess_return": -0.209265, "regime_survival": 0.333333, "best_return": 0.081316, "worst_return": -0.306877, "sufficient": false } ], "ledger": [ { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2023-11-24", "end": "2023-12-22", "tenure": "Developing", "return": -0.009239, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2023-12-29", "end": "2024-01-19", "tenure": "New", "return": 0.05265, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2024-01-26", "end": "2024-02-23", "tenure": "Developing", "return": -0.039043, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2024-03-01", "end": "2024-08-02", "tenure": "Established", "return": -0.009192, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2024-08-09", "end": "2024-09-27", "tenure": "Developing", "return": -0.092368, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2024-10-04", "end": "2024-11-22", "tenure": "Developing", "return": 0.092245, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2024-11-29", "end": "2025-01-10", "tenure": "Developing", "return": 0.04018, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-01-17", "end": "2025-02-21", "tenure": "Developing", "return": -0.060685, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2025-02-28", "end": "2025-04-11", "tenure": "Developing", "return": 0.026594, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-04-18", "end": "2025-04-25", "tenure": "New", "return": -0.033608, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-05-02", "end": "2025-05-16", "tenure": "New", "return": -0.027908, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-05-23", "end": "2026-04-03", "tenure": "Extended", "return": -0.181042, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-04-10", "end": "2026-04-17", "tenure": "New", "return": -0.048333, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2026-04-24", "end": "2026-08-07", "tenure": "Established", "return": -0.049182, "active": true } ], "chart_path": [ { "date": "2023-08-18", "close": 27.280111, "volume": 433358, "typical_volume": 201372.8, "trend": 26.269001, "fair_value": 24.426809, "relative_strength": -6.548864, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": 21.431368, "energy": 13.040181, "activity_lines": [ 26.365761, 26.145149, 26.208127, 26.289567 ] }, { "date": "2023-08-25", "close": 26.975367, "volume": 236595, "typical_volume": 205604.65, "trend": 26.355884, "fair_value": 24.430546, "relative_strength": -8.212088, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 20.819752, "energy": 25.686279, "activity_lines": [ 26.664459, 26.310774, 26.272943, 26.335139 ] }, { "date": "2023-09-01", "close": 26.498644, "volume": 302548, "typical_volume": 211035.4, "trend": 26.397856, "fair_value": 24.426938, "relative_strength": -11.794491, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 15.590917, "energy": 26.819101, "activity_lines": [ 26.732292, 26.362773, 26.289456, 26.34435 ] }, { "date": "2023-09-08", "close": 27.173253, "volume": 280563, "typical_volume": 213686.35, "trend": 26.448707, "fair_value": 24.426187, "relative_strength": -8.238777, "stage": 3, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 27.910185, "energy": 41.680212, "activity_lines": [ 26.921855, 26.538574, 26.36868, 26.394375 ] }, { "date": "2023-09-15", "close": 26.930393, "volume": 155605, "typical_volume": 206014.6, "trend": 26.47963, "fair_value": 24.42625, "relative_strength": -8.624438, "stage": 1, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 19.054346, "energy": 39.004856, "activity_lines": [ 26.938117, 26.654708, 26.422289, 26.425452 ] }, { "date": "2023-09-22", "close": 27.403953, "volume": 179874, "typical_volume": 205843.15, "trend": 26.494981, "fair_value": 24.423027, "relative_strength": -3.757121, "stage": 1, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 39.391352, "energy": 45.028825, "activity_lines": [ 27.08225, 26.847786, 26.51916, 26.485086 ] }, { "date": "2023-09-29", "close": 27.830297, "volume": 430045, "typical_volume": 214551.35, "trend": 26.551759, "fair_value": 24.42694, "relative_strength": -1.008422, "stage": 2, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "up", "direction": 73.379452, "energy": 65.744145, "activity_lines": [ 27.360242, 27.082786, 26.652061, 26.571235 ] }, { "date": "2023-10-06", "close": 27.921009, "volume": 226491, "typical_volume": 217155.3, "trend": 26.571329, "fair_value": 24.438544, "relative_strength": -0.663096, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 70.935137, "energy": 69.778401, "activity_lines": [ 27.611475, 27.29911, 26.789853, 26.659574 ] }, { "date": "2023-10-13", "close": 27.948222, "volume": 208339, "typical_volume": 223262.75, "trend": 26.586482, "fair_value": 24.449533, "relative_strength": -0.376511, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 70.001468, "energy": 74.881196, "activity_lines": [ 27.776956, 27.466391, 26.924826, 26.748406 ] }, { "date": "2023-10-20", "close": 28.773697, "volume": 333755, "typical_volume": 231491.55, "trend": 26.653668, "fair_value": 24.468578, "relative_strength": 5.45273, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 82.28196, "energy": 83.046578, "activity_lines": [ 28.16593, 27.744483, 27.132842, 26.889516 ] }, { "date": "2023-10-27", "close": 28.991405, "volume": 1467985, "typical_volume": 301300.6, "trend": 26.744739, "fair_value": 24.483263, "relative_strength": 9.252583, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 82.094159, "energy": 86.816543, "activity_lines": [ 28.504586, 28.020467, 27.35034, 27.040338 ] }, { "date": "2023-11-03", "close": 27.558163, "volume": 1054157, "typical_volume": 347738.6, "trend": 26.784472, "fair_value": 24.50078, "relative_strength": -1.465505, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 63.829601, "energy": 62.097028, "activity_lines": [ 28.259665, 28.004747, 27.417352, 27.092817 ] }, { "date": "2023-11-10", "close": 27.685884, "volume": 564316, "typical_volume": 369534.85, "trend": 26.83481, "fair_value": 24.52046, "relative_strength": -2.141341, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 60.07227, "energy": 46.26667, "activity_lines": [ 28.07546, 28.001653, 27.486696, 27.150973 ] }, { "date": "2023-11-17", "close": 27.005185, "volume": 267069, "typical_volume": 377103.65, "trend": 26.846609, "fair_value": 24.538157, "relative_strength": -6.415502, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 34.629027, "energy": 21.906151, "activity_lines": [ 27.68003, 27.853208, 27.485858, 27.161965 ] }, { "date": "2023-11-24", "close": 26.886897, "volume": 107914, "typical_volume": 379435.65, "trend": 26.858028, "fair_value": 24.558143, "relative_strength": -7.453984, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 17.304035, "energy": 23.152004, "activity_lines": [ 27.308041, 27.686313, 27.470492, 27.164564 ] }, { "date": "2023-12-01", "close": 26.823399, "volume": 150569, "typical_volume": 377510.7, "trend": 26.870697, "fair_value": 24.580318, "relative_strength": -8.233633, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 10.315452, "energy": 22.818593, "activity_lines": [ 27.040671, 27.508664, 27.446887, 27.16233 ] }, { "date": "2023-12-08", "close": 27.331384, "volume": 168055, "typical_volume": 370722.0, "trend": 26.880305, "fair_value": 24.605411, "relative_strength": -6.450062, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 5.931756, "energy": 19.89316, "activity_lines": [ 27.087164, 27.433931, 27.465104, 27.192051 ] }, { "date": "2023-12-15", "close": 26.706744, "volume": 75022, "typical_volume": 355389.15, "trend": 26.877702, "fair_value": 24.628926, "relative_strength": -10.323387, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -4.282566, "energy": 18.612463, "activity_lines": [ 26.940562, 27.254698, 27.416996, 27.180854 ] }, { "date": "2023-12-22", "close": 26.638478, "volume": 102415, "typical_volume": 350023.95, "trend": 26.873061, "fair_value": 24.64969, "relative_strength": -10.941631, "stage": 3, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -24.111283, "energy": 24.869149, "activity_lines": [ 26.836481, 27.085131, 27.354029, 27.16542 ] }, { "date": "2023-12-29", "close": 26.058019, "volume": 378155, "typical_volume": 356141.5, "trend": 26.861305, "fair_value": 24.671248, "relative_strength": -12.729924, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -35.883829, "energy": 41.937118, "activity_lines": [ 26.56336, 26.833839, 27.23173, 27.112837 ] }, { "date": "2024-01-05", "close": 26.665733, "volume": 405851, "typical_volume": 354766.15, "trend": 26.881682, "fair_value": 24.705053, "relative_strength": -9.003815, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -21.262899, "energy": 39.455045, "activity_lines": [ 26.54807, 26.742416, 27.169321, 27.100219 ] }, { "date": "2024-01-12", "close": 26.850257, "volume": 150809, "typical_volume": 350476.85, "trend": 26.926916, "fair_value": 24.739138, "relative_strength": -9.862157, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -18.448098, "energy": 28.120309, "activity_lines": [ 26.604798, 26.726829, 27.127412, 27.098192 ] }, { "date": "2024-01-19", "close": 27.429978, "volume": 263385, "typical_volume": 348518.7, "trend": 26.955861, "fair_value": 24.78072, "relative_strength": -8.832867, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": 6.943049, "energy": 10.407746, "activity_lines": [ 26.886842, 26.829516, 27.14131, 27.130647 ] }, { "date": "2024-01-26", "close": 27.126122, "volume": 196241, "typical_volume": 344302.6, "trend": 26.982726, "fair_value": 24.81409, "relative_strength": -10.616887, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -3.474305, "energy": 8.260857, "activity_lines": [ 27.019385, 26.88161, 27.121834, 27.141632 ] }, { "date": "2024-02-02", "close": 27.291862, "volume": 165960, "typical_volume": 344820.35, "trend": 27.011565, "fair_value": 24.856198, "relative_strength": -11.142823, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 7.864244, "energy": 14.456739, "activity_lines": [ 27.174665, 26.961639, 27.118367, 27.161576 ] }, { "date": "2024-02-09", "close": 26.693356, "volume": 123978, "typical_volume": 342025.55, "trend": 27.053135, "fair_value": 24.898137, "relative_strength": -13.998161, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -6.286225, "energy": 11.443972, "activity_lines": [ 27.048187, 26.925486, 27.056179, 27.141047 ] }, { "date": "2024-02-16", "close": 26.371084, "volume": 149275, "typical_volume": 327987.05, "trend": 27.068971, "fair_value": 24.937502, "relative_strength": -14.429302, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -30.638395, "energy": 18.673686, "activity_lines": [ 26.812443, 26.833102, 26.966682, 27.097043 ] }, { "date": "2024-02-23", "close": 26.067043, "volume": 54255, "typical_volume": 319375.25, "trend": 27.106155, "fair_value": 24.965776, "relative_strength": -16.343752, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -65.6579, "energy": 56.482474, "activity_lines": [ 26.507298, 26.702899, 26.855177, 27.032403 ] }, { "date": "2024-03-01", "close": 26.186928, "volume": 151597, "typical_volume": 316538.15, "trend": 27.119451, "fair_value": 24.995384, "relative_strength": -16.396618, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -62.236602, "energy": 64.419927, "activity_lines": [ 26.332976, 26.606123, 26.763918, 26.973098 ] }, { "date": "2024-03-08", "close": 25.984357, "volume": 95942, "typical_volume": 304647.5, "trend": 27.102907, "fair_value": 25.024482, "relative_strength": -16.303157, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -65.842811, "energy": 69.348867, "activity_lines": [ 26.153743, 26.480727, 26.661754, 26.899866 ] }, { "date": "2024-03-15", "close": 26.085642, "volume": 135461, "typical_volume": 238021.3, "trend": 27.063092, "fair_value": 25.054569, "relative_strength": -15.384062, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -63.265773, "energy": 68.406187, "activity_lines": [ 26.095439, 26.375085, 26.582518, 26.834236 ] }, { "date": "2024-03-22", "close": 26.046769, "volume": 68033, "typical_volume": 188715.1, "trend": 27.032139, "fair_value": 25.082713, "relative_strength": -16.862439, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -62.377591, "energy": 58.452011, "activity_lines": [ 26.064692, 26.272922, 26.513418, 26.768667 ] }, { "date": "2024-03-29", "close": 25.926053, "volume": 363661, "typical_volume": 178682.35, "trend": 27.013052, "fair_value": 25.111664, "relative_strength": -17.130759, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -65.515855, "energy": 54.807793, "activity_lines": [ 26.015327, 26.16342, 26.440017, 26.697306 ] }, { "date": "2024-04-05", "close": 25.870338, "volume": 86862, "typical_volume": 169672.0, "trend": 26.969622, "fair_value": 25.13958, "relative_strength": -16.151626, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -65.021306, "energy": 47.265888, "activity_lines": [ 25.95679, 26.071132, 26.369691, 26.623583 ] }, { "date": "2024-04-12", "close": 26.34503, "volume": 89390, "typical_volume": 168745.8, "trend": 26.95011, "fair_value": 25.172684, "relative_strength": -12.985782, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -56.516532, "energy": 36.369824, "activity_lines": [ 26.077589, 26.087985, 26.349978, 26.583287 ] }, { "date": "2024-04-19", "close": 26.914252, "volume": 254224, "typical_volume": 173928.55, "trend": 26.933786, "fair_value": 25.210001, "relative_strength": -7.953146, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -23.977148, "energy": 14.584414, "activity_lines": [ 26.364085, 26.225547, 26.387056, 26.580973 ] }, { "date": "2024-04-26", "close": 25.972483, "volume": 112538, "typical_volume": 171152.7, "trend": 26.871859, "fair_value": 25.239926, "relative_strength": -13.077074, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -44.929758, "energy": 20.676344, "activity_lines": [ 26.281416, 26.187862, 26.334009, 26.518954 ] }, { "date": "2024-05-03", "close": 25.192472, "volume": 280466, "typical_volume": 181424.9, "trend": 26.780908, "fair_value": 25.266714, "relative_strength": -15.753277, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -73.080362, "energy": 37.257393, "activity_lines": [ 25.943696, 26.015604, 26.213147, 26.410606 ] }, { "date": "2024-05-10", "close": 25.211044, "volume": 46265, "typical_volume": 178617.4, "trend": 26.689669, "fair_value": 25.289388, "relative_strength": -16.737212, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -73.270211, "energy": 59.010281, "activity_lines": [ 25.661073, 25.862624, 26.101264, 26.309325 ] }, { "date": "2024-05-17", "close": 24.496035, "volume": 108944, "typical_volume": 165156.85, "trend": 26.54708, "fair_value": 25.308156, "relative_strength": -19.920246, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -85.314107, "energy": 86.33092, "activity_lines": [ 25.184066, 25.597386, 25.928083, 26.1678 ] }, { "date": "2024-05-24", "close": 25.006756, "volume": 54952, "typical_volume": 147611.9, "trend": 26.414258, "fair_value": 25.3346, "relative_strength": -17.771516, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -63.631738, "energy": 80.380857, "activity_lines": [ 25.000565, 25.452067, 25.810979, 26.068424 ] }, { "date": "2024-05-31", "close": 25.758165, "volume": 81125, "typical_volume": 144127.7, "trend": 26.354258, "fair_value": 25.368795, "relative_strength": -14.574267, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -61.951611, "energy": 68.902657, "activity_lines": [ 25.194701, 25.462984, 25.773339, 26.026095 ] }, { "date": "2024-06-07", "close": 25.601049, "volume": 130667, "typical_volume": 137491.8, "trend": 26.284764, "fair_value": 25.400854, "relative_strength": -15.76724, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -57.164977, "energy": 43.355565, "activity_lines": [ 25.350752, 25.450581, 25.725935, 25.977501 ] }, { "date": "2024-06-14", "close": 25.350332, "volume": 65944, "typical_volume": 130976.95, "trend": 26.229602, "fair_value": 25.428709, "relative_strength": -17.607636, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -53.624744, "energy": 31.600515, "activity_lines": [ 25.395993, 25.398503, 25.663363, 25.917215 ] }, { "date": "2024-06-21", "close": 25.1232, "volume": 37335, "typical_volume": 124545.7, "trend": 26.170812, "fair_value": 25.458438, "relative_strength": -18.424995, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -48.516358, "energy": 27.022851, "activity_lines": [ 25.356237, 25.314583, 25.587615, 25.845835 ] }, { "date": "2024-06-28", "close": 25.223516, "volume": 35168, "typical_volume": 120105.2, "trend": 26.117483, "fair_value": 25.487062, "relative_strength": -17.667552, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -44.676088, "energy": 29.097371, "activity_lines": [ 25.308109, 25.271117, 25.531748, 25.784719 ] }, { "date": "2024-07-05", "close": 24.65674, "volume": 50959, "typical_volume": 115189.4, "trend": 26.028328, "fair_value": 25.509004, "relative_strength": -20.577814, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -70.893333, "energy": 45.652483, "activity_lines": [ 25.056605, 25.155341, 25.428901, 25.690477 ] }, { "date": "2024-07-12", "close": 24.203056, "volume": 154444, "typical_volume": 120198.85, "trend": 25.944872, "fair_value": 25.528264, "relative_strength": -22.405068, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -79.997962, "energy": 73.274863, "activity_lines": [ 24.727301, 24.981, 25.29101, 25.572718 ] }, { "date": "2024-07-19", "close": 25.21093, "volume": 40217, "typical_volume": 114629.85, "trend": 25.897287, "fair_value": 25.551502, "relative_strength": -17.20696, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -60.173496, "energy": 55.046564, "activity_lines": [ 24.827155, 25.007899, 25.257984, 25.525367 ] }, { "date": "2024-07-26", "close": 25.475062, "volume": 67103, "typical_volume": 113187.9, "trend": 25.877855, "fair_value": 25.574402, "relative_strength": -15.388538, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -54.73219, "energy": 36.925038, "activity_lines": [ 25.024346, 25.082823, 25.25476, 25.498126 ] }, { "date": "2024-08-02", "close": 25.946217, "volume": 158660, "typical_volume": 114347.85, "trend": 25.853871, "fair_value": 25.600999, "relative_strength": -11.655247, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -17.3912, "energy": 10.418328, "activity_lines": [ 25.355132, 25.225612, 25.298833, 25.502537 ] }, { "date": "2024-08-09", "close": 25.671189, "volume": 105098, "typical_volume": 116201.1, "trend": 25.814569, "fair_value": 25.625268, "relative_strength": -12.236162, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -17.681117, "energy": 19.201909, "activity_lines": [ 25.546061, 25.301314, 25.317378, 25.490751 ] }, { "date": "2024-08-16", "close": 24.900959, "volume": 25165, "typical_volume": 99276.3, "trend": 25.730268, "fair_value": 25.638619, "relative_strength": -17.610938, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -34.424006, "energy": 21.295887, "activity_lines": [ 25.412617, 25.238556, 25.264355, 25.431808 ] }, { "date": "2024-08-23", "close": 24.647347, "volume": 70713, "typical_volume": 98468.85, "trend": 25.647642, "fair_value": 25.656325, "relative_strength": -19.061326, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -44.662409, "energy": 18.337173, "activity_lines": [ 25.148109, 25.142415, 25.19206, 25.361943 ] }, { "date": "2024-08-30", "close": 24.958257, "volume": 49443, "typical_volume": 96471.5, "trend": 25.569855, "fair_value": 25.680201, "relative_strength": -17.819965, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -47.412449, "energy": 28.034052, "activity_lines": [ 25.02481, 25.115585, 25.1552, 25.317466 ] }, { "date": "2024-09-06", "close": 25.935133, "volume": 90396, "typical_volume": 88280.1, "trend": 25.544581, "fair_value": 25.709097, "relative_strength": -10.475306, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -12.94887, "energy": 11.686046, "activity_lines": [ 25.261589, 25.269368, 25.217979, 25.341032 ] }, { "date": "2024-09-13", "close": 25.351825, "volume": 57686, "typical_volume": 85537.5, "trend": 25.510606, "fair_value": 25.731094, "relative_strength": -15.366141, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -17.518071, "energy": 9.078534, "activity_lines": [ 25.304672, 25.304156, 25.229867, 25.328596 ] }, { "date": "2024-09-20", "close": 24.863575, "volume": 57153, "typical_volume": 74371.85, "trend": 25.47049, "fair_value": 25.748606, "relative_strength": -17.542734, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -39.889265, "energy": 15.808476, "activity_lines": [ 25.206296, 25.237534, 25.198211, 25.286853 ] }, { "date": "2024-09-27", "close": 23.299985, "volume": 86723, "typical_volume": 76394.75, "trend": 25.374259, "fair_value": 25.754967, "relative_strength": -22.455009, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -74.272942, "energy": 49.092052, "activity_lines": [ 24.589215, 24.874613, 25.019208, 25.14682 ] }, { "date": "2024-10-04", "close": 23.122886, "volume": 135382, "typical_volume": 77716.65, "trend": 25.278877, "fair_value": 25.761547, "relative_strength": -22.523827, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -77.768237, "energy": 74.781496, "activity_lines": [ 24.002925, 24.514237, 24.832438, 25.00157 ] }, { "date": "2024-10-11", "close": 23.499292, "volume": 46977, "typical_volume": 77317.9, "trend": 25.192665, "fair_value": 25.773926, "relative_strength": -21.431082, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -64.589135, "energy": 75.134092, "activity_lines": [ 23.664462, 24.265065, 24.688056, 24.886758 ] }, { "date": "2024-10-18", "close": 23.746054, "volume": 122635, "typical_volume": 79393.4, "trend": 25.115974, "fair_value": 25.788225, "relative_strength": -20.437852, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -62.235473, "energy": 75.486781, "activity_lines": [ 23.570643, 24.105249, 24.574353, 24.793428 ] }, { "date": "2024-10-25", "close": 24.201614, "volume": 55420, "typical_volume": 75631.05, "trend": 25.058493, "fair_value": 25.802397, "relative_strength": -17.206325, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -61.251963, "energy": 66.282646, "activity_lines": [ 23.735728, 24.063264, 24.513618, 24.734437 ] }, { "date": "2024-11-01", "close": 24.50589, "volume": 65327, "typical_volume": 75600.2, "trend": 25.013012, "fair_value": 25.818745, "relative_strength": -14.294106, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -53.825938, "energy": 34.851262, "activity_lines": [ 24.046369, 24.089317, 24.488526, 24.698786 ] }, { "date": "2024-11-08", "close": 24.381939, "volume": 134635, "typical_volume": 80465.2, "trend": 24.947575, "fair_value": 25.837346, "relative_strength": -17.874682, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -38.135593, "energy": 20.503304, "activity_lines": [ 24.2353, 24.095406, 24.45565, 24.658071 ] }, { "date": "2024-11-15", "close": 25.387967, "volume": 42557, "typical_volume": 80834.65, "trend": 24.896699, "fair_value": 25.859349, "relative_strength": -12.078012, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -6.110473, "energy": 16.937595, "activity_lines": [ 24.675636, 24.294887, 24.522116, 24.686484 ] }, { "date": "2024-11-22", "close": 25.255855, "volume": 63776, "typical_volume": 81475.5, "trend": 24.872811, "fair_value": 25.874523, "relative_strength": -13.379588, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "mixed", "direction": 11.762821, "energy": 23.944494, "activity_lines": [ 24.946024, 24.480297, 24.575217, 24.709655 ] }, { "date": "2024-11-29", "close": 25.340513, "volume": 50089, "typical_volume": 76257.75, "trend": 24.877746, "fair_value": 25.89103, "relative_strength": -13.52171, "stage": 4, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 22.79535, "energy": 29.603377, "activity_lines": [ 25.143977, 24.682844, 24.633527, 24.739829 ] }, { "date": "2024-12-06", "close": 25.036807, "volume": 235835, "typical_volume": 86038.65, "trend": 24.871938, "fair_value": 25.908976, "relative_strength": -14.656222, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 18.560428, "energy": 29.231553, "activity_lines": [ 25.164768, 24.821499, 24.657497, 24.750091 ] }, { "date": "2024-12-13", "close": 24.921493, "volume": 82933, "typical_volume": 86830.15, "trend": 24.88612, "fair_value": 25.922683, "relative_strength": -13.988109, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 16.518375, "energy": 27.344164, "activity_lines": [ 25.111727, 24.907611, 24.671314, 24.753288 ] }, { "date": "2024-12-20", "close": 25.53033, "volume": 83283, "typical_volume": 83061.3, "trend": 24.903573, "fair_value": 25.941987, "relative_strength": -9.74172, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 28.027147, "energy": 27.518468, "activity_lines": [ 25.225662, 25.071717, 24.745751, 24.79485 ] }, { "date": "2024-12-27", "close": 25.565059, "volume": 28911, "typical_volume": 79251.95, "trend": 24.897136, "fair_value": 25.962303, "relative_strength": -9.749687, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 28.81078, "energy": 33.989572, "activity_lines": [ 25.341681, 25.205211, 24.825476, 24.837527 ] }, { "date": "2025-01-03", "close": 25.674098, "volume": 75749, "typical_volume": 81781.15, "trend": 24.899571, "fair_value": 25.983657, "relative_strength": -8.365201, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 39.570525, "energy": 46.305573, "activity_lines": [ 25.473434, 25.325456, 24.916091, 24.887653 ] }, { "date": "2025-01-10", "close": 26.358689, "volume": 54359, "typical_volume": 80963.45, "trend": 24.933183, "fair_value": 26.012672, "relative_strength": -3.608562, "stage": 1, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "up", "direction": 80.888059, "energy": 77.042043, "activity_lines": [ 25.811144, 25.543401, 25.068224, 24.98179 ] }, { "date": "2025-01-17", "close": 25.804272, "volume": 100364, "typical_volume": 83509.5, "trend": 24.955885, "fair_value": 26.035086, "relative_strength": -7.792455, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 61.676012, "energy": 67.733762, "activity_lines": [ 25.875924, 25.626855, 25.159406, 25.037989 ] }, { "date": "2025-01-24", "close": 25.2732, "volume": 94772, "typical_volume": 83728.3, "trend": 24.957541, "fair_value": 26.049356, "relative_strength": -10.690848, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 58.552956, "energy": 49.521039, "activity_lines": [ 25.704827, 25.58789, 25.19598, 25.058461 ] }, { "date": "2025-01-31", "close": 25.438055, "volume": 41518, "typical_volume": 82919.9, "trend": 24.983585, "fair_value": 26.068971, "relative_strength": -8.674779, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 54.060654, "energy": 35.443609, "activity_lines": [ 25.605824, 25.580985, 25.251408, 25.089462 ] }, { "date": "2025-02-07", "close": 25.141392, "volume": 95370, "typical_volume": 84830.75, "trend": 25.014863, "fair_value": 26.087135, "relative_strength": -9.125471, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 35.816535, "energy": 18.830865, "activity_lines": [ 25.416401, 25.516828, 25.278171, 25.099643 ] }, { "date": "2025-02-14", "close": 24.545761, "volume": 85913, "typical_volume": 84790.25, "trend": 24.99269, "fair_value": 26.101369, "relative_strength": -12.092865, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 6.525378, "energy": 16.487151, "activity_lines": [ 25.063947, 25.347996, 25.246884, 25.069379 ] }, { "date": "2025-02-21", "close": 24.238339, "volume": 29319, "typical_volume": 79487.1, "trend": 24.951466, "fair_value": 26.110021, "relative_strength": -11.350418, "stage": 4, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "mixed", "direction": -29.846871, "energy": 30.842012, "activity_lines": [ 24.729882, 25.132197, 25.180387, 25.020711 ] }, { "date": "2025-02-28", "close": 25.248606, "volume": 167711, "typical_volume": 85523.8, "trend": 24.928213, "fair_value": 26.116156, "relative_strength": -6.395983, "stage": 4, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -9.502895, "energy": 20.361029, "activity_lines": [ 24.836967, 25.112503, 25.204795, 25.039881 ] }, { "date": "2025-03-07", "close": 24.538076, "volume": 72935, "typical_volume": 83038.8, "trend": 24.890442, "fair_value": 26.110816, "relative_strength": -5.793773, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -19.674268, "energy": 24.966336, "activity_lines": [ 24.708849, 24.968745, 25.153202, 25.014711 ] }, { "date": "2025-03-14", "close": 24.459299, "volume": 6527, "typical_volume": 80594.15, "trend": 24.87572, "fair_value": 26.116143, "relative_strength": -3.57261, "stage": 1, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -20.993918, "energy": 31.673513, "activity_lines": [ 24.61447, 24.829336, 25.090336, 24.986895 ] }, { "date": "2025-03-21", "close": 24.502626, "volume": 19934, "typical_volume": 78324.5, "trend": 24.870896, "fair_value": 26.120733, "relative_strength": -3.597411, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -18.911368, "energy": 19.418399, "activity_lines": [ 24.580007, 24.719892, 25.030368, 24.962825 ] }, { "date": "2025-03-28", "close": 24.924655, "volume": 70643, "typical_volume": 75124.9, "trend": 24.869776, "fair_value": 26.130849, "relative_strength": -0.241428, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -13.82568, "energy": 16.124952, "activity_lines": [ 24.689096, 24.720927, 25.01061, 24.966293 ] }, { "date": "2025-04-04", "close": 26.794597, "volume": 35258, "typical_volume": 74759.95, "trend": 24.898425, "fair_value": 26.150018, "relative_strength": 17.810023, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 56.797836, "energy": 29.952986, "activity_lines": [ 25.375744, 25.077944, 25.166357, 25.090475 ] }, { "date": "2025-04-11", "close": 25.920056, "volume": 152604, "typical_volume": 79201.35, "trend": 24.917366, "fair_value": 26.161324, "relative_strength": 8.017487, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 51.124913, "energy": 34.645923, "activity_lines": [ 25.667812, 25.248292, 25.232116, 25.156387 ] }, { "date": "2025-04-18", "close": 25.866684, "volume": 113064, "typical_volume": 82350.1, "trend": 24.950803, "fair_value": 26.165854, "relative_strength": 9.614067, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 52.056656, "energy": 42.915046, "activity_lines": [ 25.849958, 25.400173, 25.289629, 25.217633 ] }, { "date": "2025-04-25", "close": 24.997365, "volume": 109906, "typical_volume": 76053.65, "trend": 25.007382, "fair_value": 26.165037, "relative_strength": 1.545639, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 43.472746, "energy": 33.232217, "activity_lines": [ 25.648505, 25.380809, 25.261844, 25.220637 ] }, { "date": "2025-05-02", "close": 24.109964, "volume": 59041, "typical_volume": 74859.05, "trend": 25.040285, "fair_value": 26.152776, "relative_strength": -4.542751, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": -0.768365, "energy": 1.545382, "activity_lines": [ 25.118269, 25.191887, 25.149733, 25.162739 ] }, { "date": "2025-05-09", "close": 24.19592, "volume": 81801, "typical_volume": 74784.95, "trend": 25.063506, "fair_value": 26.139599, "relative_strength": -3.535864, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -29.02491, "energy": 24.354403, "activity_lines": [ 24.670998, 25.020929, 25.049672, 25.108264 ] }, { "date": "2025-05-16", "close": 23.437114, "volume": 127701, "typical_volume": 79724.45, "trend": 25.053208, "fair_value": 26.124492, "relative_strength": -10.971122, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -70.074404, "energy": 56.639402, "activity_lines": [ 24.144037, 24.731145, 24.883699, 25.003336 ] }, { "date": "2025-05-23", "close": 23.542117, "volume": 86858, "typical_volume": 80279.9, "trend": 25.031225, "fair_value": 26.114008, "relative_strength": -7.955158, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -66.884222, "energy": 70.095944, "activity_lines": [ 23.817606, 24.48047, 24.737859, 24.905846 ] }, { "date": "2025-05-30", "close": 23.949559, "volume": 183501, "typical_volume": 86737.0, "trend": 25.01268, "fair_value": 26.107152, "relative_strength": -7.640322, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -61.755606, "energy": 69.343031, "activity_lines": [ 23.781961, 24.320552, 24.640975, 24.836061 ] }, { "date": "2025-06-06", "close": 23.243739, "volume": 137759, "typical_volume": 88606.75, "trend": 24.97474, "fair_value": 26.092611, "relative_strength": -11.443387, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -71.374317, "energy": 73.200811, "activity_lines": [ 23.580895, 24.042358, 24.488342, 24.721936 ] }, { "date": "2025-06-13", "close": 23.147051, "volume": 93550, "typical_volume": 88545.65, "trend": 24.900043, "fair_value": 26.072146, "relative_strength": -11.163183, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -69.628158, "energy": 68.82466, "activity_lines": [ 23.405349, 23.777147, 24.338694, 24.60402 ] }, { "date": "2025-06-20", "close": 23.349128, "volume": 199687, "typical_volume": 96454.1, "trend": 24.836485, "fair_value": 26.057265, "relative_strength": -9.949817, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -62.398036, "energy": 55.20636, "activity_lines": [ 23.367086, 23.614997, 24.218416, 24.503961 ] }, { "date": "2025-06-27", "close": 22.523676, "volume": 59881, "typical_volume": 94679.65, "trend": 24.742591, "fair_value": 26.033481, "relative_strength": -15.665002, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -76.205742, "energy": 66.909095, "activity_lines": [ 23.059539, 23.349508, 24.02947, 24.354748 ] }, { "date": "2025-07-04", "close": 22.244722, "volume": 56126, "typical_volume": 93190.3, "trend": 24.649521, "fair_value": 26.009037, "relative_strength": -17.755083, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -78.414178, "energy": 79.316446, "activity_lines": [ 22.726903, 23.094082, 23.826423, 24.193595 ] }, { "date": "2025-07-11", "close": 22.5388, "volume": 70499, "typical_volume": 95249.3, "trend": 24.570098, "fair_value": 25.980271, "relative_strength": -16.154047, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -70.342606, "energy": 84.337719, "activity_lines": [ 22.605948, 22.942173, 23.662341, 24.057419 ] }, { "date": "2025-07-18", "close": 22.148517, "volume": 34567, "typical_volume": 88592.1, "trend": 24.457371, "fair_value": 25.952389, "relative_strength": -17.714636, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -77.334811, "energy": 88.851259, "activity_lines": [ 22.401895, 22.747871, 23.469182, 23.901188 ] }, { "date": "2025-07-25", "close": 21.914348, "volume": 92192, "typical_volume": 89554.95, "trend": 24.335681, "fair_value": 25.925602, "relative_strength": -19.331854, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -79.376525, "energy": 90.457312, "activity_lines": [ 22.186355, 22.548217, 23.268483, 23.737122 ] }, { "date": "2025-08-01", "close": 22.598123, "volume": 98110, "typical_volume": 94134.1, "trend": 24.233148, "fair_value": 25.903424, "relative_strength": -14.25639, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -66.292308, "energy": 80.328052, "activity_lines": [ 22.294392, 22.500573, 23.1454, 23.625022 ] }, { "date": "2025-08-08", "close": 22.060704, "volume": 29574, "typical_volume": 94616.1, "trend": 24.089882, "fair_value": 25.881864, "relative_strength": -17.79914, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -72.8004, "energy": 68.072822, "activity_lines": [ 22.218326, 22.37238, 22.979997, 23.484864 ] }, { "date": "2025-08-15", "close": 21.855806, "volume": 95708, "typical_volume": 95869.35, "trend": 23.958267, "fair_value": 25.854137, "relative_strength": -18.928741, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -76.267086, "energy": 71.456882, "activity_lines": [ 22.086229, 22.241275, 22.806708, 23.34073 ] }, { "date": "2025-08-22", "close": 21.563094, "volume": 252953, "typical_volume": 106754.1, "trend": 23.834596, "fair_value": 25.825042, "relative_strength": -19.842477, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -78.840863, "energy": 66.695806, "activity_lines": [ 21.902093, 22.082186, 22.620155, 23.186203 ] }, { "date": "2025-08-29", "close": 21.924105, "volume": 163317, "typical_volume": 107289.75, "trend": 23.717465, "fair_value": 25.792844, "relative_strength": -18.057888, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -64.357688, "energy": 60.881441, "activity_lines": [ 21.877323, 22.017533, 22.492896, 23.062945 ] }, { "date": "2025-09-05", "close": 21.727598, "volume": 44915, "typical_volume": 103882.3, "trend": 23.603672, "fair_value": 25.760345, "relative_strength": -18.499459, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -66.929316, "energy": 62.030385, "activity_lines": [ 21.786401, 21.943062, 22.36595, 22.934567 ] }, { "date": "2025-09-12", "close": 20.965962, "volume": 327253, "typical_volume": 114749.65, "trend": 23.484345, "fair_value": 25.717547, "relative_strength": -22.071679, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -85.047497, "energy": 69.879236, "activity_lines": [ 21.499634, 21.744586, 22.186178, 22.764392 ] }, { "date": "2025-09-19", "close": 20.71423, "volume": 54277, "typical_volume": 114511.45, "trend": 23.366875, "fair_value": 25.663905, "relative_strength": -23.478007, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -84.761676, "energy": 79.696674, "activity_lines": [ 21.20194, 21.52359, 22.001628, 22.585675 ] }, { "date": "2025-09-26", "close": 20.842877, "volume": 61848, "typical_volume": 113513.8, "trend": 23.220017, "fair_value": 25.605426, "relative_strength": -22.426602, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -75.578563, "energy": 86.670134, "activity_lines": [ 21.023233, 21.359159, 21.8455, 22.422836 ] }, { "date": "2025-10-03", "close": 20.278607, "volume": 37905, "typical_volume": 109024.0, "trend": 23.078035, "fair_value": 25.547293, "relative_strength": -24.985568, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -84.810617, "energy": 91.947355, "activity_lines": [ 20.70445, 21.115872, 21.6516, 22.233068 ] }, { "date": "2025-10-10", "close": 21.172108, "volume": 97854, "typical_volume": 109573.8, "trend": 22.968462, "fair_value": 25.487413, "relative_strength": -19.408086, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -66.673017, "energy": 66.400355, "activity_lines": [ 20.793201, 21.064781, 21.557835, 22.110105 ] }, { "date": "2025-10-17", "close": 20.311549, "volume": 74698, "typical_volume": 104133.65, "trend": 22.828759, "fair_value": 25.427793, "relative_strength": -23.622136, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -77.556473, "energy": 66.017171, "activity_lines": [ 20.632132, 20.883152, 21.393398, 21.938691 ] }, { "date": "2025-10-24", "close": 19.968016, "volume": 22762, "typical_volume": 98383.8, "trend": 22.663538, "fair_value": 25.361101, "relative_strength": -25.883261, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -81.270181, "energy": 68.420314, "activity_lines": [ 20.400179, 20.670865, 21.213567, 21.754127 ] }, { "date": "2025-10-31", "close": 19.948093, "volume": 197861, "typical_volume": 103599.35, "trend": 22.435321, "fair_value": 25.304474, "relative_strength": -25.971652, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -76.232196, "energy": 67.213888, "activity_lines": [ 20.211333, 20.489279, 21.047438, 21.578937 ] }, { "date": "2025-11-07", "close": 20.230672, "volume": 151549, "typical_volume": 101192.45, "trend": 22.245675, "fair_value": 25.259172, "relative_strength": -23.26744, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -64.959881, "energy": 62.108277, "activity_lines": [ 20.176332, 20.388435, 20.923454, 21.436702 ] }, { "date": "2025-11-14", "close": 20.061618, "volume": 86751, "typical_volume": 102535.95, "trend": 22.052173, "fair_value": 25.212447, "relative_strength": -23.492749, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -65.575645, "energy": 60.994779, "activity_lines": [ 20.088176, 20.287644, 20.79822, 21.295795 ] }, { "date": "2025-11-21", "close": 20.833112, "volume": 51245, "typical_volume": 102291.9, "trend": 21.913364, "fair_value": 25.169196, "relative_strength": -18.541319, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -60.558952, "energy": 48.40444, "activity_lines": [ 20.331217, 20.357414, 20.758185, 21.217146 ] }, { "date": "2025-11-28", "close": 20.339068, "volume": 87141, "typical_volume": 103124.0, "trend": 21.787668, "fair_value": 25.130705, "relative_strength": -22.818197, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -48.13698, "energy": 37.147804, "activity_lines": [ 20.374805, 20.339774, 20.67782, 21.115578 ] }, { "date": "2025-12-05", "close": 20.252962, "volume": 186572, "typical_volume": 110724.25, "trend": 21.656236, "fair_value": 25.08951, "relative_strength": -22.93563, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -48.791256, "energy": 34.52611, "activity_lines": [ 20.364955, 20.3133, 20.59973, 21.016565 ] }, { "date": "2025-12-12", "close": 20.411759, "volume": 63076, "typical_volume": 109268.45, "trend": 21.555391, "fair_value": 25.046389, "relative_strength": -21.418177, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -42.269322, "energy": 27.368206, "activity_lines": [ 20.387713, 20.326423, 20.54579, 20.936276 ] }, { "date": "2025-12-19", "close": 20.318059, "volume": 353046, "typical_volume": 122015.25, "trend": 21.447922, "fair_value": 25.002439, "relative_strength": -21.325287, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -44.82498, "energy": 31.518735, "activity_lines": [ 20.367164, 20.320089, 20.490081, 20.856448 ] }, { "date": "2025-12-26", "close": 19.967829, "volume": 260272, "typical_volume": 133550.15, "trend": 21.315198, "fair_value": 24.956586, "relative_strength": -23.204115, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -65.151318, "energy": 41.483659, "activity_lines": [ 20.212777, 20.265605, 20.411874, 20.760958 ] }, { "date": "2026-01-02", "close": 19.479837, "volume": 153236, "typical_volume": 136426.55, "trend": 21.189734, "fair_value": 24.917162, "relative_strength": -23.699322, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -76.585602, "energy": 51.840043, "activity_lines": [ 19.953411, 20.128645, 20.297158, 20.642548 ] }, { "date": "2026-01-09", "close": 19.131271, "volume": 408560, "typical_volume": 144206.9, "trend": 21.055875, "fair_value": 24.880283, "relative_strength": -25.537325, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -82.970224, "energy": 79.341627, "activity_lines": [ 19.635138, 19.937185, 20.160559, 20.509744 ] }, { "date": "2026-01-16", "close": 18.932091, "volume": 233976, "typical_volume": 147739.85, "trend": 20.90864, "fair_value": 24.843435, "relative_strength": -25.423727, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -83.589407, "energy": 90.293071, "activity_lines": [ 19.325251, 19.724362, 20.016571, 20.372726 ] }, { "date": "2026-01-23", "close": 18.543689, "volume": 252559, "typical_volume": 158122.05, "trend": 20.775974, "fair_value": 24.806094, "relative_strength": -26.109567, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -86.881803, "energy": 94.102397, "activity_lines": [ 18.984542, 19.46453, 19.84984, 20.220148 ] }, { "date": "2026-01-30", "close": 18.53373, "volume": 977153, "typical_volume": 190617.05, "trend": 20.652274, "fair_value": 24.763108, "relative_strength": -25.815601, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -77.727968, "energy": 90.084829, "activity_lines": [ 18.758804, 19.230487, 19.697322, 20.075487 ] }, { "date": "2026-02-06", "close": 18.249898, "volume": 555528, "typical_volume": 215679.6, "trend": 20.509311, "fair_value": 24.715686, "relative_strength": -26.183222, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -80.2049, "energy": 90.348156, "activity_lines": [ 18.534062, 18.986645, 19.529354, 19.920495 ] }, { "date": "2026-02-13", "close": 17.956804, "volume": 208227, "typical_volume": 222998.55, "trend": 20.369587, "fair_value": 24.66411, "relative_strength": -25.850519, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -82.133133, "energy": 86.935657, "activity_lines": [ 18.293618, 18.727498, 19.345207, 19.755817 ] }, { "date": "2026-02-20", "close": 17.607542, "volume": 406225, "typical_volume": 241414.55, "trend": 20.226027, "fair_value": 24.604265, "relative_strength": -27.500775, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -85.306619, "energy": 88.345727, "activity_lines": [ 18.015051, 18.446597, 19.141541, 19.577621 ] }, { "date": "2026-02-27", "close": 17.547788, "volume": 206096, "typical_volume": 246826.65, "trend": 20.057683, "fair_value": 24.54927, "relative_strength": -26.687686, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -80.027952, "energy": 89.292891, "activity_lines": [ 17.80487, 18.205818, 18.944903, 19.404831 ] }, { "date": "2026-03-06", "close": 19.081476, "volume": 860782, "typical_volume": 286130.85, "trend": 19.958375, "fair_value": 24.49637, "relative_strength": -18.00094, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -64.080658, "energy": 54.178851, "activity_lines": [ 18.172311, 18.294259, 18.91159, 19.34185 ] }, { "date": "2026-03-13", "close": 19.280657, "volume": 672222, "typical_volume": 318603.85, "trend": 19.872537, "fair_value": 24.443722, "relative_strength": -15.182543, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -46.768499, "energy": 34.165334, "activity_lines": [ 18.569629, 18.435031, 18.903103, 19.298126 ] }, { "date": "2026-03-20", "close": 19.669058, "volume": 697653, "typical_volume": 343593.45, "trend": 19.809402, "fair_value": 24.39828, "relative_strength": -11.212122, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -21.680777, "energy": 20.358967, "activity_lines": [ 19.027698, 18.650043, 18.93488, 19.284999 ] }, { "date": "2026-03-27", "close": 19.79, "volume": 1718728, "typical_volume": 421952.4, "trend": 19.738265, "fair_value": 24.35681, "relative_strength": -7.891823, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -9.326191, "energy": 24.275654, "activity_lines": [ 19.41193, 18.877266, 18.979504, 19.283747 ] }, { "date": "2026-04-03", "close": 19.28, "volume": 1323618, "typical_volume": 483795.75, "trend": 19.656679, "fair_value": 24.311386, "relative_strength": -12.029887, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -7.443843, "energy": 21.667852, "activity_lines": [ 19.480664, 18.996163, 18.977656, 19.254181 ] }, { "date": "2026-04-10", "close": 18.0, "volume": 940230, "typical_volume": 528245.0, "trend": 19.557813, "fair_value": 24.258977, "relative_strength": -19.68146, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -33.2667, "energy": 19.157276, "activity_lines": [ 19.007252, 18.868946, 18.857624, 19.147299 ] }, { "date": "2026-04-17", "close": 17.13, "volume": 557983, "typical_volume": 551787.1, "trend": 19.438339, "fair_value": 24.197944, "relative_strength": -25.758545, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -67.577707, "energy": 38.139297, "activity_lines": [ 18.315937, 18.593251, 18.668226, 18.990666 ] }, { "date": "2026-04-24", "close": 16.911755, "volume": 552082, "typical_volume": 570062.6, "trend": 19.307302, "fair_value": 24.136197, "relative_strength": -26.122518, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -71.252538, "energy": 67.701564, "activity_lines": [ 17.695252, 18.298237, 18.473325, 18.82766 ] }, { "date": "2026-05-01", "close": 16.787615, "volume": 418334, "typical_volume": 587825.5, "trend": 19.190935, "fair_value": 24.074301, "relative_strength": -26.477493, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -71.472147, "energy": 78.438485, "activity_lines": [ 17.217006, 17.999653, 18.282511, 18.6651 ] }, { "date": "2026-05-08", "close": 15.82281, "volume": 387814, "typical_volume": 589563.9, "trend": 19.012625, "fair_value": 24.002376, "relative_strength": -31.38451, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -82.165838, "energy": 86.524108, "activity_lines": [ 16.617318, 17.540557, 18.017068, 18.447802 ] }, { "date": "2026-05-15", "close": 16.525386, "volume": 370310, "typical_volume": 595065.8, "trend": 18.88642, "fair_value": 23.93661, "relative_strength": -27.708129, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -65.454299, "energy": 78.459179, "activity_lines": [ 16.482302, 17.240566, 17.839944, 18.287335 ] }, { "date": "2026-05-22", "close": 16.317582, "volume": 340828, "typical_volume": 604445.4, "trend": 18.764739, "fair_value": 23.869558, "relative_strength": -28.379949, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -66.261348, "energy": 73.680084, "activity_lines": [ 16.376325, 16.949267, 17.659421, 18.121603 ] }, { "date": "2026-05-29", "close": 15.654587, "volume": 371622, "typical_volume": 602598.5, "trend": 18.621622, "fair_value": 23.800608, "relative_strength": -31.393372, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -74.505295, "energy": 68.984492, "activity_lines": [ 16.10351, 16.591297, 17.430814, 17.920948 ] }, { "date": "2026-06-05", "close": 16.555072, "volume": 352629, "typical_volume": 608531.15, "trend": 18.499102, "fair_value": 23.739715, "relative_strength": -24.77942, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -62.464506, "energy": 53.036569, "activity_lines": [ 16.214669, 16.470042, 17.304524, 17.787622 ] }, { "date": "2026-06-12", "close": 15.763437, "volume": 799539, "typical_volume": 635880.15, "trend": 18.355829, "fair_value": 23.677345, "relative_strength": -27.947678, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -69.831453, "energy": 55.183794, "activity_lines": [ 16.077452, 16.263671, 17.114158, 17.611128 ] }, { "date": "2026-06-19", "close": 15.011384, "volume": 338153, "typical_volume": 603930.15, "trend": 18.161772, "fair_value": 23.603305, "relative_strength": -31.138275, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -78.986921, "energy": 69.315672, "activity_lines": [ 15.693509, 15.9845, 16.865408, 17.395357 ] }, { "date": "2026-06-26", "close": 15.78, "volume": 338334, "typical_volume": 593070.45, "trend": 18.009803, "fair_value": 23.535739, "relative_strength": -25.090519, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -61.996489, "energy": 52.137153, "activity_lines": [ 15.666705, 15.899415, 16.706633, 17.241694 ] }, { "date": "2026-07-03", "close": 16.13, "volume": 871318, "typical_volume": 626225.0, "trend": 17.872371, "fair_value": 23.469735, "relative_strength": -24.331893, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -59.895049, "energy": 49.056958, "activity_lines": [ 15.792407, 15.902513, 16.592952, 17.120417 ] }, { "date": "2026-07-10", "close": 15.82, "volume": 903754, "typical_volume": 651101.45, "trend": 17.719312, "fair_value": 23.408028, "relative_strength": -26.011045, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -57.780139, "energy": 46.78611, "activity_lines": [ 15.78308, 15.863461, 16.458447, 16.988006 ] }, { "date": "2026-07-17", "close": 16.6995, "volume": 411709, "typical_volume": 661382.1, "trend": 17.598693, "fair_value": 23.349076, "relative_strength": -19.954237, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -41.548897, "energy": 27.71601, "activity_lines": [ 16.115926, 16.001911, 16.416215, 16.922212 ] }, { "date": "2026-07-24", "close": 16.7, "volume": 382689, "typical_volume": 637477.45, "trend": 17.489766, "fair_value": 23.296182, "relative_strength": -18.802077, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -34.14094, "energy": 21.2534, "activity_lines": [ 16.386533, 16.124512, 16.378071, 16.864231 ] }, { "date": "2026-07-31", "close": 16.49, "volume": 594623, "typical_volume": 633597.5, "trend": 17.390104, "fair_value": 23.236579, "relative_strength": -19.880101, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -29.693248, "energy": 19.332216, "activity_lines": [ 16.474567, 16.205756, 16.331267, 16.79973 ] }, { "date": "2026-08-07", "close": 16.08, "volume": 749681, "typical_volume": 636198.9, "trend": 17.288395, "fair_value": 23.169908, "relative_strength": -23.766236, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -33.724836, "energy": 20.702245, "activity_lines": [ 16.3786, 16.20932, 16.258704, 16.715207 ] } ], "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." } } }