{ "ticker": { "uuid": "8b7e10b2-8973-49e0-8a3e-1067caf43d69", "symbol": "PCY", "name": "INVESCO EXCHANGE TRADED FD TR II EMERGING MKTS SOVEREIGN DEBT ETF", "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": 3, "stage_name": "Distribution", "phase": "3c", "phase_label": "Stage 3C \u00b7 Breakdown watch", "transition": "stage_3_to_4_watch", "transition_label": "Stage 3 \u2192 4 watch", "confidence": 92.248, "architecture_regime": "balance", "architecture_regime_label": "Balance", "architecture_modifier": "Upper balance after advance", "architecture_gate": "mixed", "architecture_direction": -13.72, "architecture_energy": 20.523, "architecture_maturity": 9.258, "architecture_confidence": 53.851, "architecture_tenure": "New", "architecture": { "interpretation": { "headline": "Directional pressure has compressed into balance.", "body": "Trend and Activity are compressed into balance, so neither side has durable control. Prior structure and the next directional change provide context; balance alone is not assumed to be a base." }, "scores": { "balance": 54.87, "rotation_up": 15.34, "upward_expansion": 14.36, "deceleration": 64.03, "rotation_down": 55.38, "downward_expansion": 39.36 }, "activity_lines": [ 21.122928, 21.261209, 21.306713, 21.267783 ], "activity_state": "Compressed", "activity_direction": "Contracting", "rotation_direction": "Weakening", "price_acceptance": -0.5 }, "latest_close": 21.27, "trend_reference": 21.243489, "distance_from_trend": 0.001248, "trend_direction": "Improving", "fair_value": 18.989138, "distance_from_fair_value": 0.120114, "fair_value_direction": "Weakening", "relative_strength": -10.097308, "relative_strength_direction": "Weakening", "price_momentum": -0.000521, "excess_performance": -0.126146, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.001248, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.003557, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.120114, "read": "Premium" }, { "label": "Fair Value direction", "positive": false, "value": -0.037038, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.100973, "read": "Lagging" }, { "label": "Relative strength direction", "positive": false, "value": -0.030752, "read": "Weakening" }, { "label": "Price momentum", "positive": false, "value": -0.000521, "read": "Negative" }, { "label": "Volume balance", "positive": false, "value": 0.660883, "read": "Supply-led" } ], "volume": { "latest": 1403252, "relative_activity": 0.893745, "balance": 0.660883, "dry_up": 0.716237, "accumulation_observations": 1, "distribution_observations": 3 }, "risk": { "range_context": 0.019979, "annualized_volatility": 0.089739, "from_high_reference": -0.027958, "from_low_reference": 0.073826 }, "levels": { "trend_reference": 21.243489, "fair_value_reference": 18.989138, "structural_low": 20.258293, "invalidation": "A decisive breakout above range resistance with renewed RS leadership invalidates the distribution reading; a range-low break confirms deterioration." }, "outcomes": [ { "horizon": "Near term", "sample_count": 7, "median_return": -0.002136, "positive_rate": 0.428571, "directional_follow_through": 0.428571, "median_excess_return": -0.013581, "regime_survival": 0.285714, "best_return": 0.028621, "worst_return": -0.08567, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 4, "median_return": 0.027789, "positive_rate": 0.5, "directional_follow_through": 0.5, "median_excess_return": -0.006169, "regime_survival": 0.25, "best_return": 0.073179, "worst_return": -0.01907, "sufficient": false }, { "horizon": "Extended", "sample_count": 2, "median_return": 0.059231, "positive_rate": 1.0, "directional_follow_through": 1.0, "median_excess_return": 0.008636, "regime_survival": 0.0, "best_return": 0.062707, "worst_return": 0.055754, "sufficient": false }, { "horizon": "Full cycle", "sample_count": 2, "median_return": 0.122533, "positive_rate": 1.0, "directional_follow_through": 1.0, "median_excess_return": -0.027723, "regime_survival": 0.0, "best_return": 0.143947, "worst_return": 0.101119, "sufficient": false } ], "ledger": [ { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2025-01-10", "end": "2025-01-24", "tenure": "New", "return": 0.021814, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-01-31", "end": "2025-02-07", "tenure": "New", "return": 0.009448, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-02-14", "end": "2025-02-28", "tenure": "New", "return": 0.017035, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2025-03-07", "end": "2025-03-28", "tenure": "New", "return": -0.010787, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-04-04", "end": "2025-04-11", "tenure": "New", "return": -0.019878, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-04-18", "end": "2025-05-23", "tenure": "Developing", "return": 0.014965, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-05-30", "end": "2025-06-20", "tenure": "New", "return": 0.016162, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-06-27", "end": "2026-01-16", "tenure": "Extended", "return": 0.100203, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2026-01-23", "end": "2026-02-06", "tenure": "New", "return": 0.002773, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-02-13", "end": "2026-03-20", "tenure": "Developing", "return": -0.052366, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2026-03-27", "end": "2026-04-17", "tenure": "New", "return": 0.057309, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-04-24", "end": "2026-06-19", "tenure": "Developing", "return": 0.012213, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-06-26", "end": "2026-07-17", "tenure": "New", "return": -0.014767, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-07-24", "end": "2026-08-07", "tenure": "New", "return": 0.014306, "active": true } ], "chart_path": [ { "date": "2023-08-18", "close": 15.743029, "volume": 3752539, "typical_volume": 3862852.9, "trend": 15.741756, "fair_value": 17.619391, "relative_strength": -4.636087, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 34.551185, "energy": 27.87194, "activity_lines": [ 16.106085, 16.137924, 15.976751, 15.858134 ] }, { "date": "2023-08-25", "close": 15.92113, "volume": 3777614, "typical_volume": 3826734.35, "trend": 15.739979, "fair_value": 17.594954, "relative_strength": -4.250592, "stage": 1, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 33.09528, "energy": 20.987929, "activity_lines": [ 16.010637, 16.103093, 15.984006, 15.869707 ] }, { "date": "2023-09-01", "close": 16.080342, "volume": 3010452, "typical_volume": 3797045.7, "trend": 15.74324, "fair_value": 17.570631, "relative_strength": -5.592031, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 28.958763, "energy": 21.90925, "activity_lines": [ 15.995697, 16.097159, 16.005231, 15.891666 ] }, { "date": "2023-09-08", "close": 15.979787, "volume": 1603756, "typical_volume": 3717652.45, "trend": 15.758717, "fair_value": 17.546298, "relative_strength": -4.93174, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 25.060151, "energy": 20.986759, "activity_lines": [ 15.976395, 16.071056, 16.014814, 15.906927 ] }, { "date": "2023-09-15", "close": 15.92113, "volume": 1706631, "typical_volume": 3604581.8, "trend": 15.775726, "fair_value": 17.522587, "relative_strength": -5.06804, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 25.658642, "energy": 15.52059, "activity_lines": [ 15.956741, 16.037241, 16.016176, 15.917405 ] }, { "date": "2023-09-22", "close": 15.770582, "volume": 1816773, "typical_volume": 3427851.25, "trend": 15.789227, "fair_value": 17.500961, "relative_strength": -3.041683, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 3.520513, "energy": 7.386797, "activity_lines": [ 15.903907, 15.972995, 16.002393, 15.917073 ] }, { "date": "2023-09-29", "close": 15.399708, "volume": 3520893, "typical_volume": 3471135.95, "trend": 15.785237, "fair_value": 17.476685, "relative_strength": -4.57583, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -32.160461, "energy": 27.410471, "activity_lines": [ 15.725612, 15.850936, 15.952497, 15.891943 ] }, { "date": "2023-10-06", "close": 14.927686, "volume": 3398038, "typical_volume": 3468490.9, "trend": 15.767943, "fair_value": 17.446656, "relative_strength": -7.802817, "stage": 1, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -46.982941, "energy": 62.424991, "activity_lines": [ 15.424737, 15.660018, 15.858464, 15.836617 ] }, { "date": "2023-10-13", "close": 15.113123, "volume": 4967200, "typical_volume": 3576682.75, "trend": 15.767084, "fair_value": 17.418542, "relative_strength": -6.974432, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -46.664812, "energy": 70.427369, "activity_lines": [ 15.262518, 15.531724, 15.784105, 15.79437 ] }, { "date": "2023-10-20", "close": 14.759107, "volume": 8549893, "typical_volume": 3739064.85, "trend": 15.746189, "fair_value": 17.389628, "relative_strength": -6.903185, "stage": 4, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -82.896532, "energy": 87.964281, "activity_lines": [ 15.040072, 15.360059, 15.677276, 15.72934 ] }, { "date": "2023-10-27", "close": 14.999059, "volume": 2600640, "typical_volume": 3725436.25, "trend": 15.725696, "fair_value": 17.363485, "relative_strength": -3.010855, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -66.568249, "energy": 81.285099, "activity_lines": [ 14.975078, 15.257785, 15.597526, 15.681138 ] }, { "date": "2023-11-03", "close": 15.847903, "volume": 2330953, "typical_volume": 3729768.4, "trend": 15.731597, "fair_value": 17.338584, "relative_strength": -3.137748, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -49.282668, "energy": 40.549806, "activity_lines": [ 15.244467, 15.323374, 15.602095, 15.689022 ] }, { "date": "2023-11-10", "close": 15.720576, "volume": 2727444, "typical_volume": 3787071.65, "trend": 15.734068, "fair_value": 17.311088, "relative_strength": -5.140063, "stage": 1, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -37.381117, "energy": 24.452694, "activity_lines": [ 15.441534, 15.367144, 15.594873, 15.688311 ] }, { "date": "2023-11-17", "close": 16.085579, "volume": 2537525, "typical_volume": 3645751.25, "trend": 15.756033, "fair_value": 17.28543, "relative_strength": -5.049467, "stage": 1, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -5.073388, "energy": 17.880576, "activity_lines": [ 15.707409, 15.483819, 15.623632, 15.710989 ] }, { "date": "2023-11-24", "close": 16.286754, "volume": 1319625, "typical_volume": 3528934.9, "trend": 15.773871, "fair_value": 17.260398, "relative_strength": -4.714579, "stage": 1, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "mixed", "direction": 24.284346, "energy": 35.25354, "activity_lines": [ 15.975512, 15.635148, 15.67182, 15.745229 ] }, { "date": "2023-12-01", "close": 16.893449, "volume": 3146489, "typical_volume": 3349295.85, "trend": 15.816845, "fair_value": 17.238065, "relative_strength": -1.879341, "stage": 1, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 58.675618, "energy": 62.001158, "activity_lines": [ 16.344004, 15.890137, 15.775246, 15.81746 ] }, { "date": "2023-12-08", "close": 16.970354, "volume": 3841815, "typical_volume": 3210363.1, "trend": 15.863474, "fair_value": 17.216225, "relative_strength": -1.534244, "stage": 2, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "up", "direction": 74.830025, "energy": 81.81155, "activity_lines": [ 16.611837, 16.138693, 15.883169, 15.89188 ] }, { "date": "2023-12-15", "close": 17.594138, "volume": 2811424, "typical_volume": 3202790.55, "trend": 15.938264, "fair_value": 17.197605, "relative_strength": -0.154191, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 90.195467, "energy": 92.293009, "activity_lines": [ 17.012769, 16.472108, 16.047463, 16.003536 ] }, { "date": "2023-12-22", "close": 17.727747, "volume": 4130763, "typical_volume": 3192235.3, "trend": 16.016693, "fair_value": 17.179357, "relative_strength": -0.176733, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 85.796296, "energy": 94.115205, "activity_lines": [ 17.333333, 16.781334, 16.219356, 16.118986 ] }, { "date": "2023-12-29", "close": 17.719154, "volume": 2039090, "typical_volume": 3179477.85, "trend": 16.085777, "fair_value": 17.160364, "relative_strength": -0.449594, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 77.942765, "energy": 91.399525, "activity_lines": [ 17.541555, 17.041459, 16.383479, 16.228822 ] }, { "date": "2024-01-05", "close": 17.16919, "volume": 3051530, "typical_volume": 3144427.4, "trend": 16.133784, "fair_value": 17.139409, "relative_strength": -1.822338, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 67.781604, "energy": 86.246705, "activity_lines": [ 17.470962, 17.147771, 16.487876, 16.29872 ] }, { "date": "2024-01-12", "close": 17.469952, "volume": 2595733, "typical_volume": 3085333.35, "trend": 16.185503, "fair_value": 17.121898, "relative_strength": -1.760481, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 65.527107, "energy": 74.100552, "activity_lines": [ 17.482241, 17.269311, 16.614127, 16.384924 ] }, { "date": "2024-01-19", "close": 17.212156, "volume": 1642709, "typical_volume": 3016946.2, "trend": 16.226689, "fair_value": 17.101935, "relative_strength": -4.106366, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 61.893217, "energy": 55.739831, "activity_lines": [ 17.374281, 17.314486, 16.708449, 16.45116 ] }, { "date": "2024-01-26", "close": 17.185887, "volume": 2531153, "typical_volume": 3063316.05, "trend": 16.261479, "fair_value": 17.081342, "relative_strength": -4.999215, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 47.958909, "energy": 42.355719, "activity_lines": [ 17.28303, 17.327766, 16.794881, 16.513044 ] }, { "date": "2024-02-02", "close": 17.358696, "volume": 3454729, "typical_volume": 3150720.95, "trend": 16.315004, "fair_value": 17.061119, "relative_strength": -5.182804, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 48.70598, "energy": 44.260672, "activity_lines": [ 17.285506, 17.35246, 16.892027, 16.583832 ] }, { "date": "2024-02-09", "close": 17.350055, "volume": 1860965, "typical_volume": 3152930.55, "trend": 16.350021, "fair_value": 17.041947, "relative_strength": -6.331189, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 45.480063, "energy": 39.380285, "activity_lines": [ 17.309132, 17.356094, 16.981505, 16.65061 ] }, { "date": "2024-02-16", "close": 17.229089, "volume": 6535538, "typical_volume": 3303662.8, "trend": 16.3799, "fair_value": 17.024169, "relative_strength": -6.478418, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 44.841134, "energy": 37.984063, "activity_lines": [ 17.280379, 17.329431, 17.05194, 16.707324 ] }, { "date": "2024-02-23", "close": 17.42727, "volume": 2337684, "typical_volume": 3250645.1, "trend": 16.41022, "fair_value": 17.010096, "relative_strength": -6.710882, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 52.074403, "energy": 41.349539, "activity_lines": [ 17.333743, 17.334097, 17.132539, 16.774896 ] }, { "date": "2024-03-01", "close": 17.618397, "volume": 3739082, "typical_volume": 3189239.2, "trend": 16.45524, "fair_value": 16.998405, "relative_strength": -6.38064, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 69.182468, "energy": 51.006579, "activity_lines": [ 17.436476, 17.376548, 17.219438, 16.852843 ] }, { "date": "2024-03-08", "close": 17.809523, "volume": 2943347, "typical_volume": 2908911.9, "trend": 16.509685, "fair_value": 16.988588, "relative_strength": -4.865118, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 75.093076, "energy": 58.540041, "activity_lines": [ 17.574083, 17.455736, 17.312609, 16.940216 ] }, { "date": "2024-03-15", "close": 17.574959, "volume": 4066538, "typical_volume": 2982206.8, "trend": 16.570749, "fair_value": 16.976434, "relative_strength": -5.821529, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 61.184662, "energy": 64.246314, "activity_lines": [ 17.603447, 17.490634, 17.368915, 17.008943 ] }, { "date": "2024-03-22", "close": 17.918986, "volume": 2059260, "typical_volume": 2968622.15, "trend": 16.637345, "fair_value": 16.966139, "relative_strength": -5.823932, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 75.38114, "energy": 77.034387, "activity_lines": [ 17.732493, 17.580705, 17.445719, 17.095926 ] }, { "date": "2024-03-29", "close": 17.875302, "volume": 1524862, "typical_volume": 2908493.05, "trend": 16.697177, "fair_value": 16.955192, "relative_strength": -6.1641, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 70.066035, "energy": 72.525615, "activity_lines": [ 17.800985, 17.654668, 17.508501, 17.175794 ] }, { "date": "2024-04-05", "close": 17.805408, "volume": 2411482, "typical_volume": 2902190.9, "trend": 16.758031, "fair_value": 16.9431, "relative_strength": -5.469312, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 62.831493, "energy": 60.490893, "activity_lines": [ 17.81631, 17.703867, 17.554365, 17.247293 ] }, { "date": "2024-04-12", "close": 17.490887, "volume": 1666305, "typical_volume": 2919524.9, "trend": 16.810356, "fair_value": 16.926946, "relative_strength": -5.548879, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 58.582338, "energy": 47.481947, "activity_lines": [ 17.714327, 17.684616, 17.562085, 17.294574 ] }, { "date": "2024-04-19", "close": 17.307416, "volume": 1927922, "typical_volume": 2858596.55, "trend": 16.861584, "fair_value": 16.909449, "relative_strength": -3.423593, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 37.233209, "energy": 26.057104, "activity_lines": [ 17.572429, 17.629603, 17.546598, 17.326643 ] }, { "date": "2024-04-26", "close": 17.339594, "volume": 1578635, "typical_volume": 2745437.55, "trend": 16.926247, "fair_value": 16.892858, "relative_strength": -5.521637, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 27.413897, "energy": 20.220276, "activity_lines": [ 17.459094, 17.581215, 17.532205, 17.357482 ] }, { "date": "2024-05-03", "close": 17.68217, "volume": 1940013, "typical_volume": 2701867.0, "trend": 17.018063, "fair_value": 16.877063, "relative_strength": -4.032603, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 33.919439, "energy": 22.709417, "activity_lines": [ 17.498577, 17.593106, 17.548679, 17.406251 ] }, { "date": "2024-05-10", "close": 17.752441, "volume": 1361352, "typical_volume": 2563396.45, "trend": 17.10604, "fair_value": 16.862512, "relative_strength": -5.200343, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 40.551413, "energy": 19.384224, "activity_lines": [ 17.574359, 17.613138, 17.571426, 17.453631 ] }, { "date": "2024-05-17", "close": 17.963257, "volume": 1126512, "typical_volume": 2517767.55, "trend": 17.212845, "fair_value": 16.849499, "relative_strength": -5.468922, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 64.291027, "energy": 37.690809, "activity_lines": [ 17.723944, 17.669063, 17.614134, 17.508935 ] }, { "date": "2024-05-24", "close": 17.892123, "volume": 1587817, "typical_volume": 2444581.9, "trend": 17.30928, "fair_value": 16.835153, "relative_strength": -5.672477, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 59.247274, "energy": 48.536833, "activity_lines": [ 17.818327, 17.709259, 17.648905, 17.552759 ] }, { "date": "2024-05-31", "close": 17.865629, "volume": 2578523, "typical_volume": 2443721.4, "trend": 17.376538, "fair_value": 16.819841, "relative_strength": -5.278727, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 57.009612, "energy": 53.784471, "activity_lines": [ 17.864897, 17.738872, 17.67771, 17.588653 ] }, { "date": "2024-06-07", "close": 17.865629, "volume": 3297278, "typical_volume": 2526449.85, "trend": 17.44804, "fair_value": 16.803404, "relative_strength": -6.27181, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 57.813913, "energy": 53.897211, "activity_lines": [ 17.876399, 17.769455, 17.70463, 17.620207 ] }, { "date": "2024-06-14", "close": 18.024592, "volume": 1495701, "typical_volume": 2474677.25, "trend": 17.512673, "fair_value": 16.788971, "relative_strength": -6.79471, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 64.570115, "energy": 50.852844, "activity_lines": [ 17.928658, 17.829116, 17.743578, 17.657404 ] }, { "date": "2024-06-21", "close": 18.024592, "volume": 1276452, "typical_volume": 2365763.4, "trend": 17.570601, "fair_value": 16.775208, "relative_strength": -7.17548, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 62.857622, "energy": 46.0988, "activity_lines": [ 17.962773, 17.884792, 17.778533, 17.690431 ] }, { "date": "2024-06-28", "close": 17.756536, "volume": 2240690, "typical_volume": 2384749.65, "trend": 17.599371, "fair_value": 16.75968, "relative_strength": -8.294558, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 53.076377, "energy": 32.978725, "activity_lines": [ 17.903447, 17.882027, 17.784787, 17.702427 ] }, { "date": "2024-07-05", "close": 18.156058, "volume": 3592824, "typical_volume": 2237613.95, "trend": 17.638894, "fair_value": 16.746384, "relative_strength": -7.8089, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 66.331504, "energy": 40.462731, "activity_lines": [ 17.986335, 17.943737, 17.827155, 17.738342 ] }, { "date": "2024-07-12", "close": 18.333624, "volume": 3028269, "typical_volume": 2272143.2, "trend": 17.663544, "fair_value": 16.733803, "relative_strength": -7.59395, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 72.927644, "energy": 54.271206, "activity_lines": [ 18.109049, 18.022886, 17.882021, 17.783163 ] }, { "date": "2024-07-19", "close": 18.067276, "volume": 1400037, "typical_volume": 2155190.95, "trend": 17.674862, "fair_value": 16.719016, "relative_strength": -6.92396, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 56.979081, "energy": 43.060543, "activity_lines": [ 18.111781, 18.041764, 17.907204, 17.809211 ] }, { "date": "2024-07-26", "close": 18.120091, "volume": 1196412, "typical_volume": 2067844.2, "trend": 17.688226, "fair_value": 16.704709, "relative_strength": -5.698574, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 56.828215, "energy": 54.441658, "activity_lines": [ 18.129272, 18.06452, 17.935279, 17.837935 ] }, { "date": "2024-08-02", "close": 18.387875, "volume": 2690559, "typical_volume": 1999045.25, "trend": 17.728849, "fair_value": 16.692686, "relative_strength": -2.103826, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 69.807111, "energy": 63.223123, "activity_lines": [ 18.229658, 18.133113, 17.987379, 17.883074 ] }, { "date": "2024-08-09", "close": 18.343245, "volume": 1882257, "typical_volume": 1990195.1, "trend": 17.757959, "fair_value": 16.68014, "relative_strength": -2.23029, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 63.471252, "energy": 48.580879, "activity_lines": [ 18.273078, 18.184577, 18.031357, 17.922712 ] }, { "date": "2024-08-16", "close": 18.664586, "volume": 1534648, "typical_volume": 1990684.4, "trend": 17.806373, "fair_value": 16.669796, "relative_strength": -4.191962, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 78.229558, "energy": 70.081297, "activity_lines": [ 18.411133, 18.285784, 18.103918, 17.981204 ] }, { "date": "2024-08-23", "close": 18.962594, "volume": 1101832, "typical_volume": 1925201.9, "trend": 17.865597, "fair_value": 16.660343, "relative_strength": -3.860509, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 84.478871, "energy": 84.51852, "activity_lines": [ 18.626459, 18.426647, 18.201103, 18.055799 ] }, { "date": "2024-08-30", "close": 18.872852, "volume": 3381838, "typical_volume": 2010978.55, "trend": 17.916069, "fair_value": 16.649319, "relative_strength": -4.439315, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 75.283947, "energy": 84.705637, "activity_lines": [ 18.752184, 18.534138, 18.284231, 18.120783 ] }, { "date": "2024-09-06", "close": 18.845929, "volume": 1939671, "typical_volume": 2011566.0, "trend": 17.965931, "fair_value": 16.638738, "relative_strength": -0.375685, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 69.991588, "energy": 83.164277, "activity_lines": [ 18.81875, 18.621312, 18.358214, 18.180774 ] }, { "date": "2024-09-13", "close": 19.177976, "volume": 1687178, "typical_volume": 2016993.15, "trend": 18.030894, "fair_value": 16.631092, "relative_strength": -2.409948, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 82.741607, "energy": 89.468126, "activity_lines": [ 18.965462, 18.749051, 18.456494, 18.258971 ] }, { "date": "2024-09-20", "close": 19.366436, "volume": 1911089, "typical_volume": 2015546.95, "trend": 18.095533, "fair_value": 16.626958, "relative_strength": -2.668509, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 84.528604, "energy": 89.330242, "activity_lines": [ 19.119345, 18.892474, 18.563969, 18.345135 ] }, { "date": "2024-09-27", "close": 19.32014, "volume": 1259319, "typical_volume": 2010445.3, "trend": 18.152258, "fair_value": 16.624144, "relative_strength": -3.304638, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 76.639745, "energy": 85.052796, "activity_lines": [ 19.211005, 19.008702, 18.659014, 18.424142 ] }, { "date": "2024-10-04", "close": 19.157786, "volume": 1907463, "typical_volume": 2049492.85, "trend": 18.1972, "fair_value": 16.62148, "relative_strength": -4.275714, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 67.102545, "energy": 78.99206, "activity_lines": [ 19.224712, 19.072632, 18.731131, 18.489014 ] }, { "date": "2024-10-11", "close": 18.959353, "volume": 6511678, "typical_volume": 2295685.9, "trend": 18.243346, "fair_value": 16.615783, "relative_strength": -6.202041, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 64.210104, "energy": 59.487334, "activity_lines": [ 19.153278, 19.081616, 18.778662, 18.538186 ] }, { "date": "2024-10-18", "close": 19.05857, "volume": 2216976, "typical_volume": 2277608.55, "trend": 18.281332, "fair_value": 16.61122, "relative_strength": -6.368747, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 60.255562, "energy": 51.043878, "activity_lines": [ 19.107356, 19.098249, 18.83056, 18.590781 ] }, { "date": "2024-10-25", "close": 18.676498, "volume": 1766155, "typical_volume": 2201052.4, "trend": 18.308039, "fair_value": 16.603396, "relative_strength": -7.121995, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 41.907749, "energy": 28.888197, "activity_lines": [ 18.942036, 19.032408, 18.84039, 18.616275 ] }, { "date": "2024-11-01", "close": 18.440775, "volume": 2389845, "typical_volume": 2245759.6, "trend": 18.329218, "fair_value": 16.59196, "relative_strength": -6.768955, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 15.511586, "energy": 22.61385, "activity_lines": [ 18.744138, 18.923492, 18.823908, 18.624839 ] }, { "date": "2024-11-08", "close": 18.894088, "volume": 2794553, "typical_volume": 2321664.65, "trend": 18.375991, "fair_value": 16.585483, "relative_strength": -8.580295, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 25.707998, "energy": 23.557039, "activity_lines": [ 18.755968, 18.906484, 18.848618, 18.661282 ] }, { "date": "2024-11-15", "close": 18.449841, "volume": 2075954, "typical_volume": 2313427.85, "trend": 18.414072, "fair_value": 16.576875, "relative_strength": -8.596356, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -4.501501, "energy": 19.682729, "activity_lines": [ 18.637297, 18.808318, 18.826877, 18.666047 ] }, { "date": "2024-11-22", "close": 18.58867, "volume": 2001176, "typical_volume": 2233845.45, "trend": 18.455708, "fair_value": 16.573106, "relative_strength": -9.162304, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 3.657446, "energy": 18.826232, "activity_lines": [ 18.598868, 18.742595, 18.815058, 18.677311 ] }, { "date": "2024-11-29", "close": 18.944216, "volume": 974502, "typical_volume": 2131157.1, "trend": 18.497776, "fair_value": 16.568547, "relative_strength": -8.205649, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 19.377652, "energy": 12.145425, "activity_lines": [ 18.710282, 18.752231, 18.835039, 18.708828 ] }, { "date": "2024-12-06", "close": 19.181247, "volume": 1688017, "typical_volume": 2145556.1, "trend": 18.545403, "fair_value": 16.565124, "relative_strength": -7.559466, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 46.058203, "energy": 22.317784, "activity_lines": [ 18.882859, 18.812641, 18.874687, 18.752923 ] }, { "date": "2024-12-13", "close": 18.780118, "volume": 1998125, "typical_volume": 2185641.75, "trend": 18.572631, "fair_value": 16.559465, "relative_strength": -8.605327, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 31.429279, "energy": 20.870456, "activity_lines": [ 18.87236, 18.802644, 18.870828, 18.768066 ] }, { "date": "2024-12-20", "close": 18.342523, "volume": 2929354, "typical_volume": 2197581.5, "trend": 18.587645, "fair_value": 16.550782, "relative_strength": -8.711246, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 5.030106, "energy": 7.532038, "activity_lines": [ 18.723595, 18.71995, 18.82215, 18.75322 ] }, { "date": "2024-12-27", "close": 18.262405, "volume": 1306440, "typical_volume": 2168790.65, "trend": 18.600871, "fair_value": 16.540959, "relative_strength": -9.337244, "stage": 3, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -26.543565, "energy": 27.156673, "activity_lines": [ 18.555279, 18.633905, 18.766058, 18.732237 ] }, { "date": "2025-01-03", "close": 18.344916, "volume": 2285522, "typical_volume": 2206334.35, "trend": 18.616847, "fair_value": 16.535131, "relative_strength": -8.134742, "stage": 3, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -22.7861, "energy": 43.030043, "activity_lines": [ 18.436217, 18.577337, 18.718209, 18.715723 ] }, { "date": "2025-01-10", "close": 18.106551, "volume": 1262412, "typical_volume": 2214363.35, "trend": 18.619579, "fair_value": 16.529992, "relative_strength": -7.224895, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -42.482638, "energy": 61.1286, "activity_lines": [ 18.277653, 18.483459, 18.649181, 18.682801 ] }, { "date": "2025-01-17", "close": 18.37242, "volume": 2989751, "typical_volume": 2194759.0, "trend": 18.631173, "fair_value": 16.526074, "relative_strength": -8.271998, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -31.923307, "energy": 53.731539, "activity_lines": [ 18.279359, 18.443998, 18.60955, 18.666855 ] }, { "date": "2025-01-24", "close": 18.501535, "volume": 1365725, "typical_volume": 2166061.7, "trend": 18.656006, "fair_value": 16.523582, "relative_strength": -8.930098, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -29.017961, "energy": 39.55602, "activity_lines": [ 18.351283, 18.437497, 18.584599, 18.658492 ] }, { "date": "2025-01-31", "close": 18.538409, "volume": 1041719, "typical_volume": 2133788.75, "trend": 18.668751, "fair_value": 16.521906, "relative_strength": -7.562858, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -51.206055, "energy": 30.626954, "activity_lines": [ 18.424898, 18.43676, 18.5648, 18.650905 ] }, { "date": "2025-02-07", "close": 18.71356, "volume": 1385179, "typical_volume": 2107493.25, "trend": 18.681416, "fair_value": 16.524206, "relative_strength": -6.314961, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -28.054264, "energy": 17.275907, "activity_lines": [ 18.538495, 18.468783, 18.564727, 18.653796 ] }, { "date": "2025-02-14", "close": 18.851838, "volume": 1464287, "typical_volume": 2117741.65, "trend": 18.707568, "fair_value": 16.526425, "relative_strength": -6.788591, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -10.56876, "energy": 16.617872, "activity_lines": [ 18.67361, 18.530141, 18.580932, 18.664791 ] }, { "date": "2025-02-21", "close": 18.805745, "volume": 1165041, "typical_volume": 2080620.55, "trend": 18.730423, "fair_value": 16.533457, "relative_strength": -5.316658, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 6.811391, "energy": 18.121607, "activity_lines": [ 18.743674, 18.589108, 18.594978, 18.671125 ] }, { "date": "2025-02-28", "close": 19.172983, "volume": 1246072, "typical_volume": 1817340.25, "trend": 18.756594, "fair_value": 16.553287, "relative_strength": -2.388658, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 36.888075, "energy": 43.066791, "activity_lines": [ 18.907263, 18.714379, 18.645675, 18.699677 ] }, { "date": "2025-03-07", "close": 18.89498, "volume": 1148486, "typical_volume": 1763915.75, "trend": 18.774985, "fair_value": 16.569537, "relative_strength": -0.612895, "stage": 3, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 21.008605, "energy": 40.87461, "activity_lines": [ 18.93342, 18.774005, 18.668878, 18.708605 ] }, { "date": "2025-03-14", "close": 18.811579, "volume": 3269982, "typical_volume": 1839107.1, "trend": 18.779884, "fair_value": 16.580347, "relative_strength": 1.334816, "stage": 3, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 19.994809, "energy": 38.147502, "activity_lines": [ 18.908006, 18.806966, 18.684918, 18.710966 ] }, { "date": "2025-03-21", "close": 18.89498, "volume": 914369, "typical_volume": 1765333.3, "trend": 18.777631, "fair_value": 16.594035, "relative_strength": 1.345831, "stage": 3, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 18.936341, "energy": 34.122775, "activity_lines": [ 18.903858, 18.846606, 18.708257, 18.718391 ] }, { "date": "2025-03-28", "close": 18.691168, "volume": 1299597, "typical_volume": 1690585.5, "trend": 18.771574, "fair_value": 16.603097, "relative_strength": 1.811199, "stage": 3, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": -1.128854, "energy": 6.995396, "activity_lines": [ 18.828896, 18.834855, 18.710022, 18.712813 ] }, { "date": "2025-04-04", "close": 18.281193, "volume": 1902885, "typical_volume": 1681932.05, "trend": 18.75275, "fair_value": 16.614021, "relative_strength": 9.417564, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -52.338514, "energy": 29.42936, "activity_lines": [ 18.624914, 18.742766, 18.673709, 18.681176 ] }, { "date": "2025-04-11", "close": 17.917805, "volume": 5259654, "typical_volume": 1844855.95, "trend": 18.710744, "fair_value": 16.62535, "relative_strength": 1.552088, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -75.176088, "energy": 47.797431, "activity_lines": [ 18.359256, 18.588614, 18.60359, 18.627308 ] }, { "date": "2025-04-18", "close": 18.160063, "volume": 622689, "typical_volume": 1827265.3, "trend": 18.670532, "fair_value": 16.640096, "relative_strength": 4.452053, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -64.289754, "energy": 60.383986, "activity_lines": [ 18.239495, 18.489792, 18.559738, 18.59178 ] }, { "date": "2025-04-25", "close": 18.600892, "volume": 1322844, "typical_volume": 1809006.65, "trend": 18.646557, "fair_value": 16.659484, "relative_strength": 2.325544, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -54.255802, "energy": 51.128663, "activity_lines": [ 18.310112, 18.481185, 18.561604, 18.587287 ] }, { "date": "2025-05-02", "close": 18.394736, "volume": 990105, "typical_volume": 1758605.65, "trend": 18.621122, "fair_value": 16.679267, "relative_strength": -1.539465, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -53.028598, "energy": 44.842468, "activity_lines": [ 18.331616, 18.439657, 18.546599, 18.571041 ] }, { "date": "2025-05-09", "close": 18.394736, "volume": 963458, "typical_volume": 1660310.85, "trend": 18.602301, "fair_value": 16.69905, "relative_strength": -1.00626, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -47.475914, "energy": 25.891514, "activity_lines": [ 18.372882, 18.405602, 18.53343, 18.556435 ] }, { "date": "2025-05-16", "close": 18.657117, "volume": 1036937, "typical_volume": 1646835.7, "trend": 18.58892, "fair_value": 16.720613, "relative_strength": -4.474708, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -23.813766, "energy": 13.832358, "activity_lines": [ 18.494039, 18.433403, 18.545001, 18.559972 ] }, { "date": "2025-05-23", "close": 18.431829, "volume": 1047789, "typical_volume": 1584949.05, "trend": 18.580764, "fair_value": 16.736921, "relative_strength": -3.033222, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -28.664425, "energy": 13.669392, "activity_lines": [ 18.490812, 18.424567, 18.533236, 18.549837 ] }, { "date": "2025-05-30", "close": 18.657986, "volume": 558188, "typical_volume": 1549737.85, "trend": 18.588004, "fair_value": 16.755271, "relative_strength": -3.405475, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -17.099209, "energy": 11.841363, "activity_lines": [ 18.544854, 18.463755, 18.542596, 18.554819 ] }, { "date": "2025-06-06", "close": 18.846451, "volume": 1086269, "typical_volume": 1454563.75, "trend": 18.586416, "fair_value": 16.780454, "relative_strength": -3.880818, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 10.975702, "energy": 14.673209, "activity_lines": [ 18.65791, 18.541518, 18.567279, 18.571493 ] }, { "date": "2025-06-13", "close": 18.865297, "volume": 641483, "typical_volume": 1418351.65, "trend": 18.600265, "fair_value": 16.807633, "relative_strength": -3.324526, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 29.127292, "energy": 25.121339, "activity_lines": [ 18.747135, 18.619885, 18.5915, 18.589485 ] }, { "date": "2025-06-20", "close": 18.95953, "volume": 2205058, "typical_volume": 1476518.6, "trend": 18.612627, "fair_value": 16.834796, "relative_strength": -2.593314, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 62.29852, "energy": 49.452654, "activity_lines": [ 18.836399, 18.704764, 18.622963, 18.612664 ] }, { "date": "2025-06-27", "close": 19.191996, "volume": 967492, "typical_volume": 1455634.25, "trend": 18.620886, "fair_value": 16.864394, "relative_strength": -4.60498, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 70.796192, "energy": 64.894258, "activity_lines": [ 18.982992, 18.81297, 18.67456, 18.650042 ] }, { "date": "2025-07-04", "close": 19.428817, "volume": 905277, "typical_volume": 1427683.75, "trend": 18.629139, "fair_value": 16.897942, "relative_strength": -4.922755, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 79.667265, "energy": 76.197123, "activity_lines": [ 19.157847, 18.945472, 18.746434, 18.702167 ] }, { "date": "2025-07-11", "close": 19.201469, "volume": 975920, "typical_volume": 1418227.7, "trend": 18.643184, "fair_value": 16.932663, "relative_strength": -5.645346, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 64.958861, "energy": 75.883356, "activity_lines": [ 19.205531, 19.021585, 18.793907, 18.739092 ] }, { "date": "2025-07-18", "close": 19.267779, "volume": 1250960, "typical_volume": 1418472.1, "trend": 18.674026, "fair_value": 16.962836, "relative_strength": -5.7716, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 66.371107, "energy": 76.323608, "activity_lines": [ 19.25165, 19.095086, 18.845812, 18.779388 ] }, { "date": "2025-07-25", "close": 19.531518, "volume": 913712, "typical_volume": 1406733.4, "trend": 18.716329, "fair_value": 16.991353, "relative_strength": -5.740041, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 80.841202, "energy": 86.969039, "activity_lines": [ 19.35885, 19.200666, 18.922383, 18.83471 ] }, { "date": "2025-08-01", "close": 19.626747, "volume": 1514821, "typical_volume": 1318975.35, "trend": 18.759057, "fair_value": 17.01943, "relative_strength": -2.743768, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 80.865022, "energy": 88.316088, "activity_lines": [ 19.45966, 19.307662, 19.004993, 18.893447 ] }, { "date": "2025-08-08", "close": 19.807683, "volume": 1088307, "typical_volume": 1327672.25, "trend": 18.815761, "fair_value": 17.045219, "relative_strength": -4.015033, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 85.094282, "energy": 92.047632, "activity_lines": [ 19.591799, 19.42583, 19.100953, 18.9611 ] }, { "date": "2025-08-15", "close": 19.902912, "volume": 1210163, "typical_volume": 1323200.55, "trend": 18.866778, "fair_value": 17.076316, "relative_strength": -4.312459, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 82.902173, "energy": 92.569659, "activity_lines": [ 19.730423, 19.540409, 19.201636, 19.031239 ] }, { "date": "2025-08-22", "close": 20.032934, "volume": 1376942, "typical_volume": 1296903.4, "trend": 18.917824, "fair_value": 17.108706, "relative_strength": -3.788519, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 84.53424, "energy": 93.417666, "activity_lines": [ 19.865625, 19.65942, 19.308931, 19.106475 ] }, { "date": "2025-08-29", "close": 20.023362, "volume": 2162519, "typical_volume": 1142046.65, "trend": 18.967323, "fair_value": 17.143448, "relative_strength": -3.631698, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 76.987697, "energy": 90.523628, "activity_lines": [ 19.946626, 19.755461, 19.406974, 19.1778 ] }, { "date": "2025-09-05", "close": 20.358361, "volume": 1742760, "typical_volume": 1198050.2, "trend": 19.02215, "fair_value": 17.178979, "relative_strength": -2.125638, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 89.005864, "energy": 93.729495, "activity_lines": [ 20.106504, 19.893068, 19.526895, 19.267544 ] }, { "date": "2025-09-12", "close": 20.69336, "volume": 1203319, "typical_volume": 1192073.95, "trend": 19.083534, "fair_value": 17.219625, "relative_strength": -1.873807, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 93.823597, "energy": 96.267834, "activity_lines": [ 20.329274, 20.070377, 19.668252, 19.375364 ] }, { "date": "2025-09-19", "close": 20.712503, "volume": 1124566, "typical_volume": 1198797.0, "trend": 19.147092, "fair_value": 17.262863, "relative_strength": -2.790558, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 86.563008, "energy": 92.581785, "activity_lines": [ 20.49938, 20.228175, 19.801469, 19.480459 ] }, { "date": "2025-09-26", "close": 20.636471, "volume": 1607785, "typical_volume": 1231013.35, "trend": 19.195875, "fair_value": 17.309555, "relative_strength": -2.695325, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 74.051837, "energy": 88.712134, "activity_lines": [ 20.590169, 20.344676, 19.916407, 19.576548 ] }, { "date": "2025-10-03", "close": 20.790331, "volume": 1845918, "typical_volume": 1271462.4, "trend": 19.259054, "fair_value": 17.356374, "relative_strength": -2.890768, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 78.779901, "energy": 90.569552, "activity_lines": [ 20.692009, 20.464266, 20.035323, 19.679416 ] }, { "date": "2025-10-10", "close": 20.578773, "volume": 1313073, "typical_volume": 1284726.6, "trend": 19.31796, "fair_value": 17.404161, "relative_strength": -1.40131, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 68.147864, "energy": 67.84945, "activity_lines": [ 20.672198, 20.522504, 20.123934, 19.764559 ] }, { "date": "2025-10-17", "close": 20.953807, "volume": 1581623, "typical_volume": 1335898.35, "trend": 19.386588, "fair_value": 17.454403, "relative_strength": -1.235892, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 83.518124, "energy": 72.614752, "activity_lines": [ 20.762704, 20.63162, 20.238038, 19.870098 ] }, { "date": "2025-10-24", "close": 21.179479, "volume": 1724687, "typical_volume": 1367819.25, "trend": 19.469531, "fair_value": 17.502622, "relative_strength": -1.986806, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 88.16205, "energy": 74.559107, "activity_lines": [ 20.911072, 20.760929, 20.362702, 19.985768 ] }, { "date": "2025-10-31", "close": 21.169817, "volume": 2058811, "typical_volume": 1438685.65, "trend": 19.565819, "fair_value": 17.54961, "relative_strength": -2.62579, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 79.927238, "energy": 71.506449, "activity_lines": [ 21.025087, 20.86527, 20.475336, 20.095464 ] }, { "date": "2025-11-07", "close": 21.015222, "volume": 1799390, "typical_volume": 1418402.25, "trend": 19.669066, "fair_value": 17.591135, "relative_strength": -1.700815, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 66.561235, "energy": 66.89587, "activity_lines": [ 21.052013, 20.920833, 20.562273, 20.188974 ] }, { "date": "2025-11-14", "close": 21.00556, "volume": 1332450, "typical_volume": 1436650.15, "trend": 19.763916, "fair_value": 17.632497, "relative_strength": -1.849797, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 64.788315, "energy": 65.505953, "activity_lines": [ 21.060727, 20.956605, 20.638501, 20.275199 ] }, { "date": "2025-11-21", "close": 21.015222, "volume": 1179638, "typical_volume": 1450368.2, "trend": 19.844394, "fair_value": 17.671208, "relative_strength": 0.09959, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 63.652667, "energy": 62.996002, "activity_lines": [ 21.044209, 20.982367, 20.707013, 20.355929 ] }, { "date": "2025-11-28", "close": 21.205485, "volume": 1308129, "typical_volume": 1466978.65, "trend": 19.938085, "fair_value": 17.707358, "relative_strength": -2.548058, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 72.453693, "energy": 64.071398, "activity_lines": [ 21.087017, 21.03687, 20.786091, 20.443741 ] }, { "date": "2025-12-05", "close": 21.215194, "volume": 2502526, "typical_volume": 1529556.95, "trend": 20.0321, "fair_value": 17.745256, "relative_strength": -2.77174, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 70.679003, "energy": 64.146333, "activity_lines": [ 21.131328, 21.084175, 20.856551, 20.526135 ] }, { "date": "2025-12-12", "close": 21.1181, "volume": 1122432, "typical_volume": 1539992.95, "trend": 20.114133, "fair_value": 17.782736, "relative_strength": -2.630413, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 60.982873, "energy": 58.770016, "activity_lines": [ 21.140249, 21.103304, 20.90849, 20.5962 ] }, { "date": "2025-12-19", "close": 21.144412, "volume": 848026, "typical_volume": 1506653.2, "trend": 20.204553, "fair_value": 17.821324, "relative_strength": -2.607671, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 60.616809, "energy": 56.757547, "activity_lines": [ 21.151082, 21.121258, 20.95538, 20.662669 ] }, { "date": "2025-12-26", "close": 21.232189, "volume": 795867, "typical_volume": 1492031.2, "trend": 20.290359, "fair_value": 17.861554, "relative_strength": -3.563282, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 65.593122, "energy": 55.632868, "activity_lines": [ 21.181918, 21.144887, 21.003403, 20.728968 ] }, { "date": "2026-01-02", "close": 21.163887, "volume": 1849867, "typical_volume": 1524016.4, "trend": 20.367607, "fair_value": 17.897906, "relative_strength": -2.846923, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 58.860056, "energy": 48.429965, "activity_lines": [ 21.175521, 21.151036, 21.038138, 20.785325 ] }, { "date": "2026-01-09", "close": 21.144372, "volume": 1994791, "typical_volume": 1554908.85, "trend": 20.443576, "fair_value": 17.932386, "relative_strength": -4.397834, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 55.93775, "energy": 44.025981, "activity_lines": [ 21.165393, 21.15392, 21.065009, 20.835439 ] }, { "date": "2026-01-16", "close": 21.115099, "volume": 3108596, "typical_volume": 1602212.7, "trend": 20.515429, "fair_value": 17.965549, "relative_strength": -4.164192, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 44.011725, "energy": 36.939555, "activity_lines": [ 21.150229, 21.151945, 21.0838, 20.878763 ] }, { "date": "2026-01-23", "close": 21.222256, "volume": 3106632, "typical_volume": 1670406.3, "trend": 20.583104, "fair_value": 17.999189, "relative_strength": -3.338426, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 57.103816, "energy": 37.631087, "activity_lines": [ 21.170984, 21.167636, 21.107597, 20.924365 ] }, { "date": "2026-01-30", "close": 21.143801, "volume": 2047174, "typical_volume": 1712599.05, "trend": 20.64027, "fair_value": 18.032274, "relative_strength": -4.041845, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 41.516045, "energy": 29.853916, "activity_lines": [ 21.160397, 21.165124, 21.119809, 20.960539 ] }, { "date": "2026-02-06", "close": 21.281098, "volume": 2420918, "typical_volume": 1777416.65, "trend": 20.709591, "fair_value": 18.069233, "relative_strength": -3.18905, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 59.314838, "energy": 37.704916, "activity_lines": [ 21.201469, 21.185236, 21.142952, 21.001882 ] }, { "date": "2026-02-13", "close": 21.5655, "volume": 1927034, "typical_volume": 1793379.1, "trend": 20.786182, "fair_value": 18.108686, "relative_strength": -0.639908, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 76.247793, "energy": 51.187127, "activity_lines": [ 21.329527, 21.255683, 21.190473, 21.057102 ] }, { "date": "2026-02-20", "close": 21.624342, "volume": 8168295, "typical_volume": 2109497.95, "trend": 20.855943, "fair_value": 18.148806, "relative_strength": -1.457971, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 76.260809, "energy": 68.96333, "activity_lines": [ 21.449124, 21.33046, 21.239174, 21.111177 ] }, { "date": "2026-02-27", "close": 21.658029, "volume": 1089652, "typical_volume": 2098326.9, "trend": 20.923652, "fair_value": 18.188157, "relative_strength": -0.745139, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 75.719238, "energy": 79.963544, "activity_lines": [ 21.546001, 21.402157, 21.287112, 21.162925 ] }, { "date": "2026-03-06", "close": 21.175206, "volume": 2407133, "typical_volume": 2139602.4, "trend": 20.969236, "fair_value": 18.224879, "relative_strength": -0.891714, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 58.044438, "energy": 54.643479, "activity_lines": [ 21.452885, 21.376729, 21.283928, 21.179154 ] }, { "date": "2026-03-13", "close": 20.781066, "volume": 2469110, "typical_volume": 2176823.55, "trend": 20.998508, "fair_value": 18.261047, "relative_strength": -1.108712, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 9.727087, "energy": 9.205862, "activity_lines": [ 21.226295, 21.280676, 21.242152, 21.167014 ] }, { "date": "2026-03-20", "close": 20.436193, "volume": 2280344, "typical_volume": 2187900.2, "trend": 21.01195, "fair_value": 18.29342, "relative_strength": -0.824485, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "mixed", "direction": -39.815876, "energy": 37.026679, "activity_lines": [ 20.918083, 21.128879, 21.169428, 21.130736 ] }, { "date": "2026-03-27", "close": 20.387011, "volume": 2395935, "typical_volume": 2217727.45, "trend": 21.024072, "fair_value": 18.324017, "relative_strength": 1.310943, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -41.474279, "energy": 47.579911, "activity_lines": [ 20.668764, 20.981016, 21.095514, 21.090417 ] }, { "date": "2026-04-03", "close": 20.852378, "volume": 2469012, "typical_volume": 2274555.55, "trend": 21.040539, "fair_value": 18.357232, "relative_strength": 0.480793, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -33.936963, "energy": 48.825168, "activity_lines": [ 20.657057, 20.931002, 21.068911, 21.07934 ] }, { "date": "2026-04-10", "close": 21.238533, "volume": 3225528, "typical_volume": 2376850.05, "trend": 21.058711, "fair_value": 18.393079, "relative_strength": -1.056212, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -19.589978, "energy": 38.360595, "activity_lines": [ 20.827777, 20.957924, 21.079815, 21.092114 ] }, { "date": "2026-04-17", "close": 21.555378, "volume": 1013529, "typical_volume": 2362120.05, "trend": 21.086807, "fair_value": 18.432366, "relative_strength": -3.652276, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": 17.186851, "energy": 8.441461, "activity_lines": [ 21.099891, 21.040732, 21.119831, 21.124157 ] }, { "date": "2026-04-24", "close": 21.377679, "volume": 1502884, "typical_volume": 2312137.95, "trend": 21.111514, "fair_value": 18.46843, "relative_strength": -4.7094, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 15.92885, "energy": 22.65039, "activity_lines": [ 21.261152, 21.086244, 21.141258, 21.142923 ] }, { "date": "2026-05-01", "close": 21.328171, "volume": 1292150, "typical_volume": 2320623.85, "trend": 21.129442, "fair_value": 18.505122, "relative_strength": -5.628587, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 22.764862, "energy": 28.767513, "activity_lines": [ 21.343143, 21.126169, 21.157195, 21.156901 ] }, { "date": "2026-05-08", "close": 21.456892, "volume": 1487866, "typical_volume": 2352615.85, "trend": 21.158713, "fair_value": 18.542849, "relative_strength": -7.022085, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 56.480969, "energy": 39.830972, "activity_lines": [ 21.405298, 21.194883, 21.184392, 21.178026 ] }, { "date": "2026-05-15", "close": 21.001416, "volume": 1116597, "typical_volume": 2368652.35, "trend": 21.1603, "fair_value": 18.579073, "relative_strength": -8.999404, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 27.995395, "energy": 21.006434, "activity_lines": [ 21.275326, 21.184441, 21.166721, 21.167878 ] }, { "date": "2026-05-22", "close": 21.098893, "volume": 1607913, "typical_volume": 2356554.65, "trend": 21.157613, "fair_value": 18.615766, "relative_strength": -9.152276, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 18.046984, "energy": 8.350748, "activity_lines": [ 21.193655, 21.194881, 21.159434, 21.163917 ] }, { "date": "2026-05-29", "close": 21.487033, "volume": 1423929, "typical_volume": 2328011.55, "trend": 21.168187, "fair_value": 18.653204, "relative_strength": -8.602744, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 51.988155, "energy": 21.917132, "activity_lines": [ 21.271796, 21.270113, 21.189421, 21.185169 ] }, { "date": "2026-06-05", "close": 21.367605, "volume": 1665097, "typical_volume": 2255836.6, "trend": 21.179933, "fair_value": 18.689349, "relative_strength": -6.613534, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 35.951431, "energy": 15.445709, "activity_lines": [ 21.302837, 21.304526, 21.206403, 21.198035 ] }, { "date": "2026-06-12", "close": 21.586556, "volume": 1539439, "typical_volume": 2177476.95, "trend": 21.1993, "fair_value": 18.725684, "relative_strength": -6.024179, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 57.047282, "energy": 36.6912, "activity_lines": [ 21.404233, 21.360918, 21.243034, 21.224269 ] }, { "date": "2026-06-19", "close": 21.638763, "volume": 1193708, "typical_volume": 2134803.65, "trend": 21.220085, "fair_value": 18.76198, "relative_strength": -6.474403, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 58.938746, "energy": 54.634784, "activity_lines": [ 21.514388, 21.413454, 21.282903, 21.252621 ] }, { "date": "2026-06-26", "close": 21.563343, "volume": 1640405, "typical_volume": 2095778.0, "trend": 21.232013, "fair_value": 18.796731, "relative_strength": -4.413834, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 54.762672, "energy": 51.470565, "activity_lines": [ 21.556912, 21.445, 21.313232, 21.274767 ] }, { "date": "2026-07-03", "close": 21.543441, "volume": 2083646, "typical_volume": 2103608.6, "trend": 21.242955, "fair_value": 18.833849, "relative_strength": -6.382027, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 55.670812, "energy": 50.2498, "activity_lines": [ 21.561839, 21.472783, 21.340322, 21.294859 ] }, { "date": "2026-07-10", "close": 21.414081, "volume": 1245773, "typical_volume": 1757482.5, "trend": 21.252821, "fair_value": 18.866635, "relative_strength": -8.039428, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 51.997877, "energy": 36.747798, "activity_lines": [ 21.519885, 21.474032, 21.355197, 21.305899 ] }, { "date": "2026-07-17", "close": 21.244918, "volume": 1106688, "typical_volume": 1758334.3, "trend": 21.256171, "fair_value": 18.898123, "relative_strength": -7.192418, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 30.98622, "energy": 15.148306, "activity_lines": [ 21.418446, 21.442962, 21.354962, 21.30539 ] }, { "date": "2026-07-24", "close": 20.97, "volume": 931894, "typical_volume": 1684572.35, "trend": 21.247431, "fair_value": 18.926664, "relative_strength": -7.702047, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 8.058545, "energy": 12.269877, "activity_lines": [ 21.248143, 21.365761, 21.330512, 21.286927 ] }, { "date": "2026-07-31", "close": 20.92, "volume": 1056367, "typical_volume": 1613935.2, "trend": 21.239302, "fair_value": 18.956486, "relative_strength": -8.69705, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -22.805409, "energy": 24.236991, "activity_lines": [ 21.105757, 21.280041, 21.302277, 21.265802 ] }, { "date": "2026-08-07", "close": 21.27, "volume": 1403252, "typical_volume": 1570080.6, "trend": 21.243489, "fair_value": 18.989138, "relative_strength": -10.097308, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -13.719655, "energy": 20.522737, "activity_lines": [ 21.122928, 21.261209, 21.306713, 21.267783 ] } ], "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." } } }