{ "ticker": { "uuid": "8d771726-ad14-4569-95bc-3b56dd0dec75", "symbol": "2707", "name": "Formosa International Hotels Corporation", "exchange": "TAI", "country": "TW", "assetType": "equity" }, "methodBoundary": "Trend Architecture is a weekly structural classification, not a forecast, probability of return, recommendation or execution signal. Confidence measures geometric agreement and external confirmation only.", "analysis": { "eligible": true, "as_of": "2026-08-14", "benchmark": "^TWII", "stage": 1, "stage_name": "Basing", "phase": "1b", "phase_label": "Stage 1B \u00b7 Basing", "transition": "stage_1_building", "transition_label": "Base still building", "confidence": 61.247, "architecture_regime": "balance", "architecture_regime_label": "Balance", "architecture_modifier": "Upper balance after advance", "architecture_gate": "up", "architecture_direction": 34.526, "architecture_energy": 15.959, "architecture_maturity": 13.533, "architecture_confidence": 67.552, "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": 56.74, "rotation_up": 32.05, "upward_expansion": 60.12, "deceleration": 81.21, "rotation_down": 22.07, "downward_expansion": 12.45 }, "activity_lines": [ 178.4, 178.754545, 177.762056, 177.227895 ], "activity_state": "Compressed", "activity_direction": "Contracting", "rotation_direction": "Weakening", "price_acceptance": 0.333333 }, "latest_close": 177.5, "trend_reference": 176.937166, "distance_from_trend": 0.003181, "trend_direction": "Weakening", "fair_value": 180.33214, "distance_from_fair_value": -0.015705, "fair_value_direction": "Improving", "relative_strength": -29.922327, "relative_strength_direction": "Improving", "price_momentum": -0.007619, "excess_performance": -0.448991, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.003181, "read": "Above" }, { "label": "Trend direction", "positive": false, "value": -0.001256, "read": "Falling" }, { "label": "Price vs current Fair Value", "positive": false, "value": -0.015705, "read": "Below anchor" }, { "label": "Fair Value direction", "positive": true, "value": 0.051026, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.299223, "read": "Lagging" }, { "label": "Relative strength direction", "positive": true, "value": 0.063675, "read": "Improving" }, { "label": "Price momentum", "positive": false, "value": -0.007619, "read": "Negative" }, { "label": "Volume balance", "positive": false, "value": 0.757175, "read": "Supply-led" } ], "volume": { "latest": 677427, "relative_activity": 0.65275, "balance": 0.757175, "dry_up": 0.955711, "accumulation_observations": 1, "distribution_observations": 1 }, "risk": { "range_context": 0.024052, "annualized_volatility": 0.112162, "from_high_reference": -0.080409, "from_low_reference": 0.062874 }, "levels": { "trend_reference": 176.937166, "fair_value_reference": 180.33214, "structural_low": 167.0, "invalidation": "A renewed decline below the structural range low, widening the discount to current Fair Value while Trend falls, weakens the base diagnosis." }, "outcomes": [ { "horizon": "Near term", "sample_count": 15, "median_return": -0.004773, "positive_rate": 0.4, "directional_follow_through": 0.4, "median_excess_return": -0.017159, "regime_survival": 0.333333, "best_return": 0.071188, "worst_return": -0.054825, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 8, "median_return": -0.020998, "positive_rate": 0.375, "directional_follow_through": 0.375, "median_excess_return": -0.108713, "regime_survival": 0.125, "best_return": 0.073033, "worst_return": -0.182342, "sufficient": true }, { "horizon": "Extended", "sample_count": 6, "median_return": -0.042811, "positive_rate": 0.333333, "directional_follow_through": 0.333333, "median_excess_return": -0.135932, "regime_survival": 0.333333, "best_return": 0.040435, "worst_return": -0.15739, "sufficient": true }, { "horizon": "Full cycle", "sample_count": 3, "median_return": -0.011478, "positive_rate": 0.333333, "directional_follow_through": 0.333333, "median_excess_return": 0.022719, "regime_survival": 0.333333, "best_return": 0.24913, "worst_return": -0.152826, "sufficient": false } ], "ledger": [ { "regime": "balance", "label": "Balance", "color": "blue", "start": "2024-06-28", "end": "2024-08-09", "tenure": "Developing", "return": -0.026253, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2024-08-16", "end": "2024-08-23", "tenure": "New", "return": 0.002433, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2024-08-30", "end": "2025-02-14", "tenure": "Established", "return": -0.048662, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-02-21", "end": "2025-03-07", "tenure": "New", "return": 0.043038, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2025-03-14", "end": "2025-04-04", "tenure": "New", "return": 0.019277, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-04-11", "end": "2025-06-06", "tenure": "Developing", "return": 0.005482, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2025-06-13", "end": "2025-08-29", "tenure": "Developing", "return": -0.010309, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-09-05", "end": "2025-09-19", "tenure": "New", "return": 0.007614, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2025-09-26", "end": "2025-10-10", "tenure": "New", "return": -0.022727, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-10-17", "end": "2025-11-07", "tenure": "New", "return": 0.0, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-11-14", "end": "2026-06-05", "tenure": "Extended", "return": 0.004002, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-06-12", "end": "2026-06-19", "tenure": "New", "return": -0.002786, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2026-06-26", "end": "2026-07-17", "tenure": "New", "return": 0.0, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-07-24", "end": "2026-08-14", "tenure": "New", "return": -0.00838, "active": true } ], "chart_path": [ { "date": "2023-08-11", "close": 202.494186, "volume": 2172016, "typical_volume": 7020282.15, "trend": 225.057101, "fair_value": 140.42548, "relative_strength": -5.61207, "stage": 3, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -70.939111, "energy": 69.621086, "activity_lines": [ 207.170348, 213.426475, 221.926954, 224.433472 ] }, { "date": "2023-08-18", "close": 187.881195, "volume": 5635223, "typical_volume": 6962606.25, "trend": 224.552566, "fair_value": 140.991638, "relative_strength": -11.609383, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -83.705964, "energy": 80.553158, "activity_lines": [ 200.183945, 207.368724, 218.295904, 222.035027 ] }, { "date": "2023-08-25", "close": 190.803802, "volume": 4645975, "typical_volume": 7127586.1, "trend": 224.023884, "fair_value": 141.583543, "relative_strength": -11.151794, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -74.904632, "energy": 79.990359, "activity_lines": [ 195.786132, 202.964843, 215.125264, 219.857687 ] }, { "date": "2023-09-01", "close": 189.133759, "volume": 1532300, "typical_volume": 6828371.3, "trend": 223.480057, "fair_value": 142.171757, "relative_strength": -13.067477, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -72.740996, "energy": 81.33195, "activity_lines": [ 192.279019, 199.260358, 211.954072, 217.606711 ] }, { "date": "2023-09-08", "close": 184.958618, "volume": 1951409, "typical_volume": 6229976.85, "trend": 222.675491, "fair_value": 142.740221, "relative_strength": -14.840782, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -76.122706, "energy": 88.318639, "activity_lines": [ 188.799741, 195.684922, 208.623098, 215.121457 ] }, { "date": "2023-09-15", "close": 181.6185, "volume": 1465112, "typical_volume": 5973262.7, "trend": 221.084214, "fair_value": 143.291948, "relative_strength": -18.214118, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -76.811686, "energy": 88.136818, "activity_lines": [ 185.65447, 192.079121, 205.197015, 212.472619 ] }, { "date": "2023-09-22", "close": 176.608337, "volume": 1644709, "typical_volume": 5839352.05, "trend": 218.528991, "fair_value": 143.809222, "relative_strength": -17.803816, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -80.571092, "energy": 89.776754, "activity_lines": [ 182.230857, 188.21522, 201.492154, 209.603207 ] }, { "date": "2023-09-29", "close": 178.695923, "volume": 599085, "typical_volume": 5648691.5, "trend": 216.137906, "fair_value": 144.33754, "relative_strength": -16.853841, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -73.037262, "energy": 88.308944, "activity_lines": [ 180.254631, 185.376129, 198.273957, 207.033332 ] }, { "date": "2023-10-06", "close": 177.86087, "volume": 1166893, "typical_volume": 5398305.65, "trend": 214.475405, "fair_value": 144.846478, "relative_strength": -17.982695, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -71.59957, "energy": 86.508382, "activity_lines": [ 178.807245, 183.000095, 195.219404, 204.563846 ] }, { "date": "2023-10-13", "close": 169.510605, "volume": 2206370, "typical_volume": 5097717.75, "trend": 212.777697, "fair_value": 145.325267, "relative_strength": -22.911735, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -84.02074, "energy": 90.679158, "activity_lines": [ 175.327963, 179.697941, 191.612876, 201.662891 ] }, { "date": "2023-10-20", "close": 158.655243, "volume": 3549078, "typical_volume": 5015665.0, "trend": 210.529038, "fair_value": 145.720444, "relative_strength": -26.089138, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -91.759448, "energy": 94.099446, "activity_lines": [ 169.260095, 175.097698, 187.267133, 198.17112 ] }, { "date": "2023-10-27", "close": 163.665421, "volume": 1808523, "typical_volume": 4097030.05, "trend": 208.447386, "fair_value": 146.152412, "relative_strength": -22.155966, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -76.51194, "energy": 82.692702, "activity_lines": [ 166.39317, 172.205468, 183.769959, 195.147661 ] }, { "date": "2023-11-03", "close": 174.938293, "volume": 3056052, "typical_volume": 3753011.65, "trend": 206.809033, "fair_value": 146.665994, "relative_strength": -18.626759, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -67.291006, "energy": 66.185604, "activity_lines": [ 168.146731, 171.803138, 181.755689, 192.985784 ] }, { "date": "2023-11-10", "close": 179.53093, "volume": 2924617, "typical_volume": 3360145.05, "trend": 204.823991, "fair_value": 147.213691, "relative_strength": -17.275194, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -64.081716, "energy": 60.312659, "activity_lines": [ 171.681678, 172.524296, 180.517064, 191.225906 ] }, { "date": "2023-11-17", "close": 204.581757, "volume": 8447034, "typical_volume": 3214503.5, "trend": 203.917111, "fair_value": 147.928983, "relative_strength": -8.790369, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -13.230154, "energy": 19.624868, "activity_lines": [ 183.455565, 177.974748, 181.942575, 191.210278 ] }, { "date": "2023-11-24", "close": 184.541107, "volume": 6344267, "typical_volume": 3210148.7, "trend": 202.625866, "fair_value": 148.513472, "relative_strength": -18.105758, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -27.032051, "energy": 30.613977, "activity_lines": [ 186.211157, 179.424661, 181.517109, 189.960213 ] }, { "date": "2023-12-01", "close": 182.871048, "volume": 3273656, "typical_volume": 3110159.4, "trend": 200.8197, "fair_value": 149.059203, "relative_strength": -19.495371, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -22.545372, "energy": 28.070311, "activity_lines": [ 186.684339, 180.517788, 181.089654, 188.685709 ] }, { "date": "2023-12-08", "close": 183.288559, "volume": 1347922, "typical_volume": 2959980.85, "trend": 199.270584, "fair_value": 149.58657, "relative_strength": -18.635026, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -11.204581, "energy": 22.223428, "activity_lines": [ 186.016317, 181.572958, 180.841134, 187.554668 ] }, { "date": "2023-12-15", "close": 181.6185, "volume": 1404878, "typical_volume": 2857526.05, "trend": 197.692816, "fair_value": 150.079854, "relative_strength": -20.235277, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -17.483954, "energy": 11.750933, "activity_lines": [ 184.234923, 182.24098, 180.572732, 186.415823 ] }, { "date": "2023-12-22", "close": 180.783478, "volume": 1307500, "typical_volume": 2824130.95, "trend": 196.006168, "fair_value": 150.574798, "relative_strength": -19.797187, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -28.85355, "energy": 19.232266, "activity_lines": [ 182.036018, 182.688858, 180.361987, 185.324898 ] }, { "date": "2023-12-29", "close": 184.958618, "volume": 1888396, "typical_volume": 2809949.95, "trend": 194.283094, "fair_value": 151.117546, "relative_strength": -18.960494, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -25.599164, "energy": 15.944284, "activity_lines": [ 182.815378, 183.690892, 180.672141, 184.612153 ] }, { "date": "2024-01-05", "close": 183.288559, "volume": 1394924, "typical_volume": 2597935.0, "trend": 192.072113, "fair_value": 151.644913, "relative_strength": -17.267768, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -25.330362, "energy": 14.315859, "activity_lines": [ 183.010217, 183.911035, 180.906744, 183.902828 ] }, { "date": "2024-01-12", "close": 186.211151, "volume": 2323911, "typical_volume": 2481831.8, "trend": 190.080118, "fair_value": 152.202703, "relative_strength": -15.596767, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -17.055198, "energy": 8.390329, "activity_lines": [ 184.15142, 184.305774, 181.441558, 183.524702 ] }, { "date": "2024-01-19", "close": 173.685745, "volume": 3480192, "typical_volume": 2579226.4, "trend": 187.93688, "fair_value": 152.684878, "relative_strength": -21.561557, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -41.771831, "energy": 18.778933, "activity_lines": [ 180.922648, 182.218206, 180.805347, 182.467 ] }, { "date": "2024-01-26", "close": 177.443359, "volume": 1219389, "typical_volume": 2542625.4, "trend": 186.62867, "fair_value": 153.207505, "relative_strength": -20.77665, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -36.557209, "energy": 21.217192, "activity_lines": [ 179.475264, 180.920116, 180.600566, 181.789999 ] }, { "date": "2024-02-02", "close": 179.53093, "volume": 904641, "typical_volume": 2514601.85, "trend": 185.362211, "fair_value": 153.743513, "relative_strength": -19.732491, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -42.100099, "energy": 24.744522, "activity_lines": [ 178.946412, 180.49501, 180.630387, 181.33208 ] }, { "date": "2024-02-09", "close": 180.365967, "volume": 139425, "typical_volume": 2439337.65, "trend": 184.304509, "fair_value": 154.301238, "relative_strength": -19.087003, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -44.30217, "energy": 27.030292, "activity_lines": [ 179.057752, 180.312824, 180.749677, 181.009742 ] }, { "date": "2024-02-16", "close": 174.938293, "volume": 1051895, "typical_volume": 2461978.15, "trend": 183.051968, "fair_value": 154.821833, "relative_strength": -23.027139, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -54.927183, "energy": 39.071751, "activity_lines": [ 177.554706, 179.189334, 180.334153, 180.40547 ] }, { "date": "2024-02-23", "close": 171.598175, "volume": 1523574, "typical_volume": 2479812.2, "trend": 181.757675, "fair_value": 155.297639, "relative_strength": -24.764808, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -66.528875, "energy": 51.241761, "activity_lines": [ 175.689811, 177.610373, 179.618415, 179.666516 ] }, { "date": "2024-03-01", "close": 173.685745, "volume": 913122, "typical_volume": 2415149.8, "trend": 180.658222, "fair_value": 155.758774, "relative_strength": -23.1969, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -59.345079, "energy": 54.088362, "activity_lines": [ 174.659945, 176.593158, 179.131316, 179.145746 ] }, { "date": "2024-03-08", "close": 172.433212, "volume": 872885, "typical_volume": 2281340.15, "trend": 179.65619, "fair_value": 156.162787, "relative_strength": -26.317904, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -61.879302, "energy": 60.847084, "activity_lines": [ 173.463075, 175.477259, 178.505046, 178.6151 ] }, { "date": "2024-03-15", "close": 185.79364, "volume": 4043273, "typical_volume": 2393077.65, "trend": 179.586605, "fair_value": 156.647768, "relative_strength": -19.563038, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -10.243069, "energy": 11.384875, "activity_lines": [ 177.192862, 177.018264, 179.085589, 179.011065 ] }, { "date": "2024-03-22", "close": 190.386292, "volume": 2072744, "typical_volume": 2343912.25, "trend": 179.572688, "fair_value": 157.155176, "relative_strength": -19.163895, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 33.943982, "energy": 23.506214, "activity_lines": [ 182.091688, 179.34875, 179.998154, 179.707819 ] }, { "date": "2024-03-29", "close": 187.881195, "volume": 978275, "typical_volume": 2246595.15, "trend": 179.530936, "fair_value": 157.609122, "relative_strength": -19.825996, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 58.809384, "energy": 42.231127, "activity_lines": [ 185.125615, 181.147851, 180.598577, 180.243851 ] }, { "date": "2024-04-05", "close": 186.628662, "volume": 498587, "typical_volume": 1849172.8, "trend": 179.586604, "fair_value": 158.071403, "relative_strength": -19.865691, "stage": 4, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 55.103474, "energy": 48.873402, "activity_lines": [ 186.656497, 182.461121, 181.039948, 180.701769 ] }, { "date": "2024-04-12", "close": 183.70607, "volume": 1516504, "typical_volume": 1607784.65, "trend": 179.656189, "fair_value": 158.535989, "relative_strength": -21.830931, "stage": 4, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 54.34985, "energy": 56.742482, "activity_lines": [ 186.35032, 183.076004, 181.288468, 180.967541 ] }, { "date": "2024-04-19", "close": 179.948456, "volume": 998733, "typical_volume": 1494038.5, "trend": 179.767527, "fair_value": 158.971812, "relative_strength": -17.901601, "stage": 4, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 45.005458, "energy": 31.328211, "activity_lines": [ 184.040082, 182.931773, 181.183096, 180.986397 ] }, { "date": "2024-04-26", "close": 187.046188, "volume": 1381637, "typical_volume": 1495724.25, "trend": 180.045869, "fair_value": 159.462484, "relative_strength": -16.459396, "stage": 4, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 55.321933, "energy": 27.759887, "activity_lines": [ 184.485433, 184.08563, 181.767616, 181.455988 ] }, { "date": "2024-05-03", "close": 198.736572, "volume": 4324073, "typical_volume": 1641684.0, "trend": 180.741726, "fair_value": 160.030433, "relative_strength": -11.32738, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 74.999682, "energy": 43.121183, "activity_lines": [ 189.050252, 187.144868, 183.447612, 182.66184 ] }, { "date": "2024-05-10", "close": 202.911713, "volume": 4775427, "typical_volume": 1815080.35, "trend": 181.855096, "fair_value": 160.632159, "relative_strength": -10.333686, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 77.282671, "energy": 67.627264, "activity_lines": [ 194.283093, 190.469797, 185.443726, 184.092162 ] }, { "date": "2024-05-17", "close": 210.426971, "volume": 4322678, "typical_volume": 1936794.45, "trend": 183.58082, "fair_value": 161.303099, "relative_strength": -8.733248, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 83.436526, "energy": 84.863069, "activity_lines": [ 200.935484, 194.629756, 188.050207, 185.935508 ] }, { "date": "2024-05-24", "close": 202.911713, "volume": 4807602, "typical_volume": 2107428.35, "trend": 184.88903, "fair_value": 161.979633, "relative_strength": -12.530148, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 62.954834, "energy": 77.27143, "activity_lines": [ 203.301395, 196.732508, 189.81967, 187.182663 ] }, { "date": "2024-05-31", "close": 184.958618, "volume": 7029571, "typical_volume": 2342711.35, "trend": 185.223041, "fair_value": 162.531732, "relative_strength": -18.000537, "stage": 1, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 52.805977, "energy": 47.590795, "activity_lines": [ 198.152057, 195.259823, 189.785872, 187.187152 ] }, { "date": "2024-06-07", "close": 189.133759, "volume": 3712161, "typical_volume": 2354309.8, "trend": 185.543135, "fair_value": 163.091893, "relative_strength": -17.865172, "stage": 1, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 40.826626, "energy": 26.877178, "activity_lines": [ 194.533604, 194.64494, 190.15567, 187.439457 ] }, { "date": "2024-06-14", "close": 189.968781, "volume": 2149282, "typical_volume": 2400804.45, "trend": 185.056036, "fair_value": 163.631691, "relative_strength": -19.016561, "stage": 1, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 32.364961, "energy": 19.646147, "activity_lines": [ 191.833679, 194.159105, 190.531433, 187.724982 ] }, { "date": "2024-06-21", "close": 186.480362, "volume": 5215009, "typical_volume": 2616322.85, "trend": 185.120678, "fair_value": 164.151465, "relative_strength": -22.228818, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 20.511152, "energy": 21.686363, "activity_lines": [ 188.833811, 192.978283, 190.51532, 187.816874 ] }, { "date": "2024-06-28", "close": 184.281296, "volume": 1444404, "typical_volume": 2681571.8, "trend": 185.167686, "fair_value": 164.666494, "relative_strength": -21.705831, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 13.520544, "energy": 17.478775, "activity_lines": [ 186.69736, 191.347189, 190.256679, 187.762721 ] }, { "date": "2024-07-05", "close": 184.281296, "volume": 938506, "typical_volume": 2675902.35, "trend": 185.200777, "fair_value": 165.153469, "relative_strength": -22.687581, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 3.435286, "energy": 13.204794, "activity_lines": [ 185.802938, 189.637316, 189.979395, 187.705534 ] }, { "date": "2024-07-12", "close": 185.160934, "volume": 939797, "typical_volume": 2646713.5, "trend": 185.318858, "fair_value": 165.641408, "relative_strength": -22.824527, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -13.219499, "energy": 17.352837, "activity_lines": [ 185.246883, 188.137648, 189.741394, 187.702964 ] }, { "date": "2024-07-19", "close": 182.082245, "volume": 1285953, "typical_volume": 2665355.05, "trend": 185.362151, "fair_value": 166.10026, "relative_strength": -19.937814, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -20.339199, "energy": 22.057528, "activity_lines": [ 183.929454, 186.325048, 189.145601, 187.49415 ] }, { "date": "2024-07-26", "close": 183.401688, "volume": 1473618, "typical_volume": 2695391.7, "trend": 185.310253, "fair_value": 166.560557, "relative_strength": -15.993316, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -18.045365, "energy": 21.339778, "activity_lines": [ 183.577607, 185.131065, 188.635486, 187.367668 ] }, { "date": "2024-08-02", "close": 183.401688, "volume": 953348, "typical_volume": 2540895.45, "trend": 185.314024, "fair_value": 167.013841, "relative_strength": -13.485909, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -18.148337, "energy": 22.818486, "activity_lines": [ 183.431006, 184.42845, 188.07314, 187.244535 ] }, { "date": "2024-08-09", "close": 179.443359, "volume": 1571543, "typical_volume": 2515835.4, "trend": 185.088431, "fair_value": 167.458115, "relative_strength": -14.038635, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -25.637373, "energy": 26.634284, "activity_lines": [ 182.023602, 183.360867, 187.1452, 186.865783 ] }, { "date": "2024-08-16", "close": 180.762817, "volume": 494757, "typical_volume": 2491659.5, "trend": 185.324333, "fair_value": 167.922536, "relative_strength": -16.257419, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -30.548184, "energy": 27.880549, "activity_lines": [ 181.378547, 182.633463, 186.395032, 186.586711 ] }, { "date": "2024-08-23", "close": 181.202621, "volume": 559281, "typical_volume": 2494694.2, "trend": 185.449642, "fair_value": 168.394452, "relative_strength": -14.752049, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -28.762044, "energy": 32.963915, "activity_lines": [ 181.173301, 182.138221, 185.720648, 186.320794 ] }, { "date": "2024-08-30", "close": 180.762817, "volume": 779272, "typical_volume": 2457832.6, "trend": 185.490705, "fair_value": 168.896277, "relative_strength": -14.825065, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "mixed", "direction": -31.650238, "energy": 43.373225, "activity_lines": [ 180.880095, 181.722401, 185.030215, 186.018418 ] }, { "date": "2024-09-06", "close": 176.804504, "volume": 720884, "typical_volume": 2443940.15, "trend": 185.371989, "fair_value": 169.347013, "relative_strength": -12.941899, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "mixed", "direction": -41.963415, "energy": 50.251931, "activity_lines": [ 179.443376, 180.690842, 183.976816, 185.458018 ] }, { "date": "2024-09-13", "close": 176.804504, "volume": 1789728, "typical_volume": 2464344.7, "trend": 185.434196, "fair_value": 169.807101, "relative_strength": -13.783636, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -65.707507, "energy": 59.951471, "activity_lines": [ 178.44647, 179.795225, 182.938388, 184.905277 ] }, { "date": "2024-09-20", "close": 177.684128, "volume": 540745, "typical_volume": 2275178.3, "trend": 185.637062, "fair_value": 170.282177, "relative_strength": -14.431217, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -60.641496, "energy": 57.895806, "activity_lines": [ 177.918695, 179.195482, 182.032504, 184.405273 ] }, { "date": "2024-09-27", "close": 180.322998, "volume": 729488, "typical_volume": 2072881.35, "trend": 185.858303, "fair_value": 170.764819, "relative_strength": -15.157628, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -56.825873, "energy": 43.48196, "activity_lines": [ 178.475789, 179.211475, 181.478191, 184.06243 ] }, { "date": "2024-10-04", "close": 176.364685, "volume": 390486, "typical_volume": 1876271.75, "trend": 185.989352, "fair_value": 171.210339, "relative_strength": -14.580831, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -63.057794, "energy": 41.199906, "activity_lines": [ 177.772088, 178.539761, 180.65446, 183.449938 ] }, { "date": "2024-10-11", "close": 177.244308, "volume": 695526, "typical_volume": 1670667.95, "trend": 185.704375, "fair_value": 171.654261, "relative_strength": -15.987806, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -57.68331, "energy": 36.786309, "activity_lines": [ 177.654802, 178.155924, 180.076705, 182.885742 ] }, { "date": "2024-10-18", "close": 178.563751, "volume": 1048534, "typical_volume": 1371616.1, "trend": 185.31029, "fair_value": 172.0584, "relative_strength": -17.118481, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -52.953647, "energy": 32.234867, "activity_lines": [ 177.948011, 178.123937, 179.746836, 182.425056 ] }, { "date": "2024-10-25", "close": 176.804504, "volume": 499311, "typical_volume": 1210973.6, "trend": 184.941067, "fair_value": 172.470559, "relative_strength": -16.999688, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -57.947045, "energy": 37.038799, "activity_lines": [ 177.537521, 177.788081, 179.279872, 181.876296 ] }, { "date": "2024-11-01", "close": 178.563751, "volume": 474576, "typical_volume": 1127238.3, "trend": 184.672237, "fair_value": 172.898818, "relative_strength": -13.57978, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -50.510228, "energy": 30.032329, "activity_lines": [ 177.772088, 177.844057, 179.039166, 181.464856 ] }, { "date": "2024-11-08", "close": 176.364685, "volume": 439791, "typical_volume": 888477.4, "trend": 184.427524, "fair_value": 173.312981, "relative_strength": -16.871245, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -58.646981, "energy": 34.761333, "activity_lines": [ 177.390917, 177.548183, 178.643335, 180.928885 ] }, { "date": "2024-11-15", "close": 172.846191, "volume": 964423, "typical_volume": 864478.35, "trend": 184.190782, "fair_value": 173.69253, "relative_strength": -14.844432, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -71.411789, "energy": 53.713562, "activity_lines": [ 175.836914, 176.692548, 177.960579, 180.181703 ] }, { "date": "2024-11-22", "close": 169.767502, "volume": 926134, "typical_volume": 863859.75, "trend": 183.614825, "fair_value": 174.040283, "relative_strength": -16.363113, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -77.621652, "energy": 68.656632, "activity_lines": [ 173.549889, 175.349121, 177.039067, 179.251168 ] }, { "date": "2024-11-29", "close": 169.767502, "volume": 972727, "typical_volume": 865506.25, "trend": 182.64919, "fair_value": 174.383211, "relative_strength": -13.414337, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -73.066499, "energy": 73.684491, "activity_lines": [ 171.849281, 174.13364, 176.186669, 178.357793 ] }, { "date": "2024-12-06", "close": 168.887878, "volume": 548971, "typical_volume": 828657.15, "trend": 181.515062, "fair_value": 174.74221, "relative_strength": -16.726644, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -72.969495, "energy": 79.883778, "activity_lines": [ 170.324598, 172.902165, 175.323799, 177.469966 ] }, { "date": "2024-12-13", "close": 167.128632, "volume": 673684, "typical_volume": 788660.45, "trend": 180.071784, "fair_value": 175.101992, "relative_strength": -16.421162, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -77.811433, "energy": 85.694072, "activity_lines": [ 168.858558, 171.558739, 174.356212, 176.541809 ] }, { "date": "2024-12-20", "close": 168.887878, "volume": 1500528, "typical_volume": 816019.45, "trend": 178.937656, "fair_value": 175.465814, "relative_strength": -13.093847, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -64.81397, "energy": 69.17547, "activity_lines": [ 168.594671, 170.703104, 173.633663, 175.820267 ] }, { "date": "2024-12-27", "close": 168.887878, "volume": 809438, "typical_volume": 777914.2, "trend": 178.401965, "fair_value": 175.829637, "relative_strength": -15.375119, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -62.203835, "energy": 56.310262, "activity_lines": [ 168.59467, 169.999404, 172.980228, 175.171894 ] }, { "date": "2025-01-03", "close": 167.568451, "volume": 738679, "typical_volume": 790110.3, "trend": 177.683121, "fair_value": 176.177766, "relative_strength": -14.08322, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -64.559539, "energy": 50.789971, "activity_lines": [ 168.213503, 169.231733, 172.251397, 174.472958 ] }, { "date": "2025-01-10", "close": 163.610123, "volume": 811207, "typical_volume": 802706.6, "trend": 176.804499, "fair_value": 176.498109, "relative_strength": -15.82039, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -75.682204, "energy": 55.349972, "activity_lines": [ 166.659496, 167.912295, 171.208412, 173.565023 ] }, { "date": "2025-01-17", "close": 168.887878, "volume": 1646196, "typical_volume": 846052.8, "trend": 176.218083, "fair_value": 176.878816, "relative_strength": -13.116357, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -56.845306, "energy": 41.761309, "activity_lines": [ 167.216591, 167.824332, 170.751845, 173.054273 ] }, { "date": "2025-01-24", "close": 172.846191, "volume": 1110076, "typical_volume": 865512.4, "trend": 175.836913, "fair_value": 177.287309, "relative_strength": -11.999695, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -40.149992, "energy": 27.999273, "activity_lines": [ 168.975841, 168.592005, 170.728807, 172.836731 ] }, { "date": "2025-02-07", "close": 170.647125, "volume": 669277, "typical_volume": 809489.85, "trend": 175.382441, "fair_value": 177.679293, "relative_strength": -12.405641, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -36.237478, "energy": 21.392269, "activity_lines": [ 169.738181, 168.959848, 170.515184, 172.501906 ] }, { "date": "2025-02-14", "close": 171.966568, "volume": 1012007, "typical_volume": 833052.95, "trend": 174.942628, "fair_value": 178.074912, "relative_strength": -9.956771, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -29.585371, "energy": 19.204203, "activity_lines": [ 170.823053, 169.551596, 170.456543, 172.281527 ] }, { "date": "2025-02-21", "close": 173.725815, "volume": 717226, "typical_volume": 832439.85, "trend": 174.664081, "fair_value": 178.443214, "relative_strength": -10.817244, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -15.707692, "energy": 16.4539, "activity_lines": [ 172.201132, 170.423224, 170.592675, 172.203023 ] }, { "date": "2025-02-28", "close": 175.045242, "volume": 493062, "typical_volume": 837568.65, "trend": 174.385532, "fair_value": 178.740377, "relative_strength": -7.176421, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": 0.082643, "energy": 12.649951, "activity_lines": [ 173.344641, 171.446785, 170.885883, 172.227614 ] }, { "date": "2025-03-07", "close": 181.202621, "volume": 1560501, "typical_volume": 880817.4, "trend": 174.31223, "fair_value": 179.045653, "relative_strength": -1.615527, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 37.883137, "energy": 40.033172, "activity_lines": [ 176.130119, 173.445932, 171.77179, 172.667427 ] }, { "date": "2025-03-14", "close": 182.522064, "volume": 2650793, "typical_volume": 960930.35, "trend": 174.414854, "fair_value": 179.378684, "relative_strength": 1.941454, "stage": 1, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 36.715231, "energy": 54.354414, "activity_lines": [ 178.798315, 175.461073, 172.76451, 173.197093 ] }, { "date": "2025-03-21", "close": 185.600754, "volume": 1393186, "typical_volume": 1005624.1, "trend": 174.576118, "fair_value": 179.784515, "relative_strength": 2.798438, "stage": 1, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 49.561904, "energy": 66.008831, "activity_lines": [ 181.701079, 177.788081, 174.031589, 173.918764 ] }, { "date": "2025-03-28", "close": 183.841492, "volume": 1409040, "typical_volume": 1052347.3, "trend": 174.664081, "fair_value": 180.169421, "relative_strength": 4.905155, "stage": 1, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 41.501457, "energy": 65.617591, "activity_lines": [ 183.108477, 179.467364, 175.089232, 174.51653 ] }, { "date": "2025-04-04", "close": 186.040543, "volume": 1001822, "typical_volume": 1080448.85, "trend": 174.840005, "fair_value": 180.539478, "relative_strength": 7.81221, "stage": 2, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "up", "direction": 70.962793, "energy": 74.277711, "activity_lines": [ 184.574513, 181.178631, 176.331177, 175.250496 ] }, { "date": "2025-04-11", "close": 181.642426, "volume": 4167674, "typical_volume": 1240611.4, "trend": 175.001269, "fair_value": 180.862046, "relative_strength": 14.76713, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 61.020593, "energy": 49.288475, "activity_lines": [ 183.84149, 181.778373, 177.108178, 175.689361 ] }, { "date": "2025-04-18", "close": 185.941666, "volume": 2993307, "typical_volume": 1343970.05, "trend": 175.305841, "fair_value": 181.216998, "relative_strength": 18.089634, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 64.295094, "energy": 44.575699, "activity_lines": [ 184.512227, 182.999864, 178.252743, 176.395194 ] }, { "date": "2025-04-25", "close": 182.638138, "volume": 769714, "typical_volume": 1333819.4, "trend": 175.470975, "fair_value": 181.5363, "relative_strength": 13.210071, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 57.160086, "energy": 39.144122, "activity_lines": [ 183.853814, 183.342631, 179.005667, 176.868245 ] }, { "date": "2025-05-02", "close": 187.357468, "volume": 848019, "typical_volume": 1348771.8, "trend": 175.705457, "fair_value": 181.878619, "relative_strength": 11.098596, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 64.204576, "energy": 40.645212, "activity_lines": [ 184.966019, 184.34943, 180.146762, 177.635115 ] }, { "date": "2025-05-09", "close": 187.357468, "volume": 1897483, "typical_volume": 1409961.75, "trend": 176.071883, "fair_value": 182.242646, "relative_strength": 10.636229, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 62.055249, "energy": 41.694579, "activity_lines": [ 185.843826, 185.10838, 181.199907, 178.386858 ] }, { "date": "2025-05-16", "close": 186.413589, "volume": 1076166, "typical_volume": 1388743.65, "trend": 176.377526, "fair_value": 182.61027, "relative_strength": 5.716488, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 56.836887, "energy": 38.870786, "activity_lines": [ 186.319211, 185.471857, 182.066831, 179.054065 ] }, { "date": "2025-05-23", "close": 186.413589, "volume": 617906, "typical_volume": 1379167.05, "trend": 176.639187, "fair_value": 183.0189, "relative_strength": 6.979755, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 56.369725, "energy": 39.030576, "activity_lines": [ 186.476519, 185.74059, 182.850299, 179.701553 ] }, { "date": "2025-05-30", "close": 184.053925, "volume": 446046, "typical_volume": 1364535.4, "trend": 176.880834, "fair_value": 183.422052, "relative_strength": 7.336338, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 52.062884, "energy": 32.706839, "activity_lines": [ 185.81581, 185.509537, 183.325581, 180.179923 ] }, { "date": "2025-06-06", "close": 182.638138, "volume": 605356, "typical_volume": 1354242.85, "trend": 177.016647, "fair_value": 183.799244, "relative_strength": 5.046094, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 39.365367, "energy": 23.099301, "activity_lines": [ 184.588787, 185.049193, 183.587524, 180.551362 ] }, { "date": "2025-06-13", "close": 183.110062, "volume": 564085, "typical_volume": 1300137.3, "trend": 177.241493, "fair_value": 184.121572, "relative_strength": 3.43883, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 34.932133, "energy": 17.776072, "activity_lines": [ 183.833694, 184.696533, 183.803803, 180.944486 ] }, { "date": "2025-06-20", "close": 180.278473, "volume": 591668, "typical_volume": 1274216.9, "trend": 177.489236, "fair_value": 184.40404, "relative_strength": 2.029499, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 23.658811, "energy": 16.608394, "activity_lines": [ 182.417898, 183.882319, 183.682682, 181.14042 ] }, { "date": "2025-06-27", "close": 180.750397, "volume": 496576, "typical_volume": 1265581.85, "trend": 177.855332, "fair_value": 184.715882, "relative_strength": -0.120675, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 9.507064, "energy": 13.101297, "activity_lines": [ 181.568418, 183.178709, 183.571114, 181.350817 ] }, { "date": "2025-07-04", "close": 181.222336, "volume": 606431, "typical_volume": 1245303.05, "trend": 178.23716, "fair_value": 185.022956, "relative_strength": 0.276062, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 9.116415, "energy": 12.826373, "activity_lines": [ 181.253797, 182.655293, 183.456382, 181.568043 ] }, { "date": "2025-07-11", "close": 182.166199, "volume": 261543, "typical_volume": 1222518.9, "trend": 178.679771, "fair_value": 185.351667, "relative_strength": -0.147492, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 7.737137, "energy": 13.616805, "activity_lines": [ 181.442569, 182.32923, 183.387467, 181.82153 ] }, { "date": "2025-07-18", "close": 183.110062, "volume": 459172, "typical_volume": 1220824.4, "trend": 179.212485, "fair_value": 185.676037, "relative_strength": -2.364205, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 10.195397, "energy": 8.97513, "activity_lines": [ 181.977425, 182.269166, 183.368251, 182.107355 ] }, { "date": "2025-07-25", "close": 181.222336, "volume": 513044, "typical_volume": 1168451.55, "trend": 179.623634, "fair_value": 185.98571, "relative_strength": -3.245531, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 4.793925, "energy": 5.347471, "activity_lines": [ 181.88304, 181.943104, 183.130848, 182.237023 ] }, { "date": "2025-08-01", "close": 180.278467, "volume": 279559, "typical_volume": 1049889.85, "trend": 180.00332, "fair_value": 186.24777, "relative_strength": -3.898968, "stage": 3, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "up", "direction": -0.72903, "energy": 5.535521, "activity_lines": [ 181.411107, 181.539816, 182.803458, 182.27927 ] }, { "date": "2025-08-08", "close": 181.222336, "volume": 410416, "typical_volume": 1000751.35, "trend": 180.45845, "fair_value": 186.518478, "relative_strength": -5.54462, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 4.999418, "energy": 8.245535, "activity_lines": [ 181.285259, 181.419688, 182.576645, 182.357916 ] }, { "date": "2025-08-15", "close": 181.222336, "volume": 463415, "typical_volume": 953470.1, "trend": 181.045523, "fair_value": 186.820358, "relative_strength": -6.55541, "stage": 3, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "up", "direction": -3.622989, "energy": 12.664799, "activity_lines": [ 181.159411, 181.351043, 182.370681, 182.407199 ] }, { "date": "2025-08-22", "close": 180.750397, "volume": 574113, "typical_volume": 932084.65, "trend": 181.440941, "fair_value": 187.124407, "relative_strength": -4.452087, "stage": 3, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -24.868004, "energy": 24.630455, "activity_lines": [ 180.939174, 181.222334, 182.132243, 182.388159 ] }, { "date": "2025-08-29", "close": 181.222336, "volume": 376343, "typical_volume": 742518.1, "trend": 181.720146, "fair_value": 187.421091, "relative_strength": -5.896169, "stage": 3, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -21.739373, "energy": 17.013122, "activity_lines": [ 181.033561, 181.222334, 181.963943, 182.374055 ] }, { "date": "2025-09-05", "close": 185.941666, "volume": 636066, "typical_volume": 624656.05, "trend": 182.229964, "fair_value": 187.709064, "relative_strength": -4.354425, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 19.111354, "energy": 13.023271, "activity_lines": [ 182.701058, 182.063233, 182.247103, 182.646411 ] }, { "date": "2025-09-12", "close": 188.77327, "volume": 1486370, "typical_volume": 660488.85, "trend": 182.790187, "fair_value": 188.025578, "relative_strength": -6.44362, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 59.421425, "energy": 46.79662, "activity_lines": [ 184.934877, 183.324583, 182.799939, 183.06856 ] }, { "date": "2025-09-19", "close": 187.357468, "volume": 634845, "typical_volume": 649830.15, "trend": 183.244575, "fair_value": 188.325224, "relative_strength": -7.341763, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 35.391079, "energy": 49.232683, "activity_lines": [ 186.193366, 184.191224, 183.188723, 183.363223 ] }, { "date": "2025-09-26", "close": 186.885529, "volume": 606701, "typical_volume": 585291.05, "trend": 183.639252, "fair_value": 188.621844, "relative_strength": -7.421723, "stage": 2, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 21.658887, "energy": 51.430696, "activity_lines": [ 186.885533, 184.877672, 183.532559, 183.598124 ] }, { "date": "2025-10-03", "close": 184.525864, "volume": 377554, "typical_volume": 550360.45, "trend": 183.750026, "fair_value": 188.796837, "relative_strength": -12.4091, "stage": 3, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 21.066973, "energy": 48.089091, "activity_lines": [ 186.382136, 185.066444, 183.653914, 183.655324 ] }, { "date": "2025-10-10", "close": 182.638138, "volume": 364859, "typical_volume": 537708.1, "trend": 183.753896, "fair_value": 188.972718, "relative_strength": -14.768979, "stage": 3, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 14.683418, "energy": 15.15237, "activity_lines": [ 185.029263, 184.85193, 183.604473, 183.58359 ] }, { "date": "2025-10-17", "close": 180.278473, "volume": 1417813, "typical_volume": 586296.45, "trend": 183.576486, "fair_value": 189.130875, "relative_strength": -15.636653, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -27.537465, "energy": 18.4181, "activity_lines": [ 183.110069, 184.165483, 183.348282, 183.359369 ] }, { "date": "2025-10-24", "close": 181.222336, "volume": 798508, "typical_volume": 595954.05, "trend": 183.489181, "fair_value": 189.279496, "relative_strength": -15.691701, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -24.951831, "energy": 25.246631, "activity_lines": [ 182.071816, 183.667808, 183.19996, 183.207488 ] }, { "date": "2025-10-31", "close": 179.806534, "volume": 426765, "typical_volume": 589088.05, "trend": 183.281381, "fair_value": 189.489177, "relative_strength": -18.184941, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -61.221002, "energy": 42.020779, "activity_lines": [ 180.970638, 182.912714, 182.923542, 182.969898 ] }, { "date": "2025-11-07", "close": 180.278473, "volume": 740220, "typical_volume": 596515.65, "trend": 183.235916, "fair_value": 189.743445, "relative_strength": -15.970037, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -57.864509, "energy": 49.552473, "activity_lines": [ 180.498706, 182.260589, 182.707801, 182.776162 ] }, { "date": "2025-11-14", "close": 180.278473, "volume": 544447, "typical_volume": 598909.2, "trend": 183.047143, "fair_value": 189.937968, "relative_strength": -15.000064, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -57.40537, "energy": 50.348603, "activity_lines": [ 180.309934, 181.625625, 182.492061, 182.585359 ] }, { "date": "2025-11-21", "close": 179.806534, "volume": 700356, "typical_volume": 603605.45, "trend": 182.952756, "fair_value": 190.139856, "relative_strength": -11.961058, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -59.205884, "energy": 44.596993, "activity_lines": [ 180.121159, 181.007821, 182.233621, 182.376288 ] }, { "date": "2025-11-28", "close": 180.278473, "volume": 485511, "typical_volume": 614803.85, "trend": 182.716789, "fair_value": 190.308403, "relative_strength": -15.350322, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -54.273502, "energy": 32.685917, "activity_lines": [ 180.12116, 180.638856, 182.02687, 182.203753 ] }, { "date": "2025-12-05", "close": 179.334595, "volume": 349770, "typical_volume": 609333.75, "trend": 182.44936, "fair_value": 190.421545, "relative_strength": -16.607012, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -58.443465, "energy": 34.440419, "activity_lines": [ 179.869459, 180.226985, 181.739215, 181.985547 ] }, { "date": "2025-12-12", "close": 179.334595, "volume": 484439, "typical_volume": 607903.5, "trend": 182.213394, "fair_value": 190.220379, "relative_strength": -17.057813, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -58.456472, "energy": 38.352698, "activity_lines": [ 179.649221, 179.952405, 181.469538, 181.784595 ] }, { "date": "2025-12-19", "close": 178.862671, "volume": 499166, "typical_volume": 618883.85, "trend": 181.961696, "fair_value": 190.029176, "relative_strength": -15.607933, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -60.544929, "energy": 44.037617, "activity_lines": [ 179.3346, 179.686406, 181.163905, 181.568419 ] }, { "date": "2025-12-26", "close": 178.862671, "volume": 255172, "typical_volume": 611121.65, "trend": 181.788655, "fair_value": 189.863949, "relative_strength": -17.892846, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -58.944761, "energy": 46.87865, "activity_lines": [ 179.114366, 179.489053, 180.865014, 181.368482 ] }, { "date": "2026-01-02", "close": 178.862671, "volume": 322714, "typical_volume": 604086.6, "trend": 181.662806, "fair_value": 189.680538, "relative_strength": -19.878845, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -57.409996, "energy": 45.039789, "activity_lines": [ 178.957056, 179.317441, 180.57736, 181.179709 ] }, { "date": "2026-01-09", "close": 180.278473, "volume": 634155, "typical_volume": 607088.7, "trend": 181.568419, "fair_value": 189.498411, "relative_strength": -21.478017, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -53.472464, "energy": 30.57945, "activity_lines": [ 179.366067, 179.446151, 180.43578, 181.090397 ] }, { "date": "2026-01-16", "close": 178.862671, "volume": 472882, "typical_volume": 611915.65, "trend": 181.521226, "fair_value": 189.434489, "relative_strength": -24.601352, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -56.223827, "energy": 30.82043, "activity_lines": [ 179.240218, 179.308861, 180.16161, 180.915833 ] }, { "date": "2026-01-23", "close": 177.918793, "volume": 536878, "typical_volume": 606956.25, "trend": 181.426839, "fair_value": 189.273602, "relative_strength": -25.970497, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -62.592585, "energy": 35.391953, "activity_lines": [ 178.831205, 179.0257, 179.808783, 180.683418 ] }, { "date": "2026-01-30", "close": 176.97493, "volume": 700045, "typical_volume": 567640.0, "trend": 181.285259, "fair_value": 189.083286, "relative_strength": -26.253309, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -66.757959, "energy": 43.206279, "activity_lines": [ 178.170497, 178.61383, 179.404268, 180.396198 ] }, { "date": "2026-02-06", "close": 178.862671, "volume": 567619, "typical_volume": 564278.7, "trend": 181.175141, "fair_value": 188.912863, "relative_strength": -24.489784, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -54.396193, "energy": 42.357737, "activity_lines": [ 178.264885, 178.596669, 179.23572, 180.239902 ] }, { "date": "2026-02-13", "close": 179.334595, "volume": 331076, "typical_volume": 550497.45, "trend": 181.049293, "fair_value": 188.722088, "relative_strength": -28.008627, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -50.942261, "energy": 32.812991, "activity_lines": [ 178.51658, 178.691055, 179.15257, 180.121157 ] }, { "date": "2026-02-27", "close": 177.918793, "volume": 506035, "typical_volume": 556921.5, "trend": 180.939174, "fair_value": 188.392357, "relative_strength": -31.818577, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -55.684203, "energy": 32.369328, "activity_lines": [ 178.359267, 178.528022, 178.970537, 179.919189 ] }, { "date": "2026-03-06", "close": 174.615265, "volume": 1112000, "typical_volume": 594278.55, "trend": 180.750401, "fair_value": 187.888192, "relative_strength": -29.026117, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -74.200667, "energy": 44.396279, "activity_lines": [ 177.163704, 177.790089, 178.505346, 179.511195 ] }, { "date": "2026-03-13", "close": 174.143341, "volume": 861523, "typical_volume": 566464.05, "trend": 180.514434, "fair_value": 187.399184, "relative_strength": -28.265887, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -72.180363, "energy": 59.244068, "activity_lines": [ 176.031067, 177.043578, 178.033413, 179.084933 ] }, { "date": "2026-03-20", "close": 174.615265, "volume": 438140, "typical_volume": 548445.65, "trend": 180.294199, "fair_value": 187.058667, "relative_strength": -27.786454, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -65.938827, "energy": 68.25829, "activity_lines": [ 175.244511, 176.468677, 177.63564, 178.704341 ] }, { "date": "2026-03-27", "close": 174.143341, "volume": 358636, "typical_volume": 545039.2, "trend": 180.073964, "fair_value": 186.761882, "relative_strength": -26.435631, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -66.48297, "energy": 70.68082, "activity_lines": [ 174.583807, 175.885197, 177.224385, 178.307512 ] }, { "date": "2026-04-03", "close": 177.918793, "volume": 689577, "typical_volume": 542507.05, "trend": 179.963845, "fair_value": 186.452932, "relative_strength": -22.962761, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -57.496906, "energy": 39.804601, "activity_lines": [ 175.527671, 176.099711, 177.199664, 178.168469 ] }, { "date": "2026-04-10", "close": 179.806534, "volume": 803070, "typical_volume": 555438.2, "trend": 179.759341, "fair_value": 186.156083, "relative_strength": -27.682528, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -25.175921, "energy": 14.741861, "activity_lines": [ 177.100782, 176.674612, 177.365964, 178.158319 ] }, { "date": "2026-04-17", "close": 180.5, "volume": 2680726, "typical_volume": 654456.7, "trend": 179.483565, "fair_value": 185.876667, "relative_strength": -29.286761, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -13.570093, "energy": 14.260638, "activity_lines": [ 178.558964, 177.341275, 177.600556, 178.206104 ] }, { "date": "2026-04-24", "close": 174.0, "volume": 1597652, "typical_volume": 710063.75, "trend": 179.038316, "fair_value": 185.459474, "relative_strength": -34.631622, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -41.74233, "energy": 22.456986, "activity_lines": [ 177.426702, 176.762028, 177.212798, 177.852326 ] }, { "date": "2026-05-01", "close": 168.5, "volume": 1346173, "typical_volume": 759883.9, "trend": 178.425466, "fair_value": 185.05378, "relative_strength": -35.810713, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -70.857921, "energy": 36.137632, "activity_lines": [ 174.502124, 175.271193, 176.331128, 177.172434 ] }, { "date": "2026-05-08", "close": 170.5, "volume": 1051056, "typical_volume": 788214.75, "trend": 177.957937, "fair_value": 184.715457, "relative_strength": -38.364737, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -63.725684, "energy": 58.852816, "activity_lines": [ 172.620436, 174.340987, 175.691528, 176.661114 ] }, { "date": "2026-05-15", "close": 172.0, "volume": 1357928, "typical_volume": 831152.85, "trend": 177.603332, "fair_value": 184.298431, "relative_strength": -36.28985, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -55.296701, "energy": 63.279983, "activity_lines": [ 171.733333, 173.818395, 175.236854, 176.276731 ] }, { "date": "2026-05-22", "close": 174.0, "volume": 724221, "typical_volume": 854605.3, "trend": 177.39405, "fair_value": 183.940982, "relative_strength": -36.395625, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -54.762789, "energy": 59.010895, "activity_lines": [ 172.033333, 173.70699, 175.005336, 176.044258 ] }, { "date": "2026-05-29", "close": 173.0, "volume": 1004127, "typical_volume": 888675.95, "trend": 177.119972, "fair_value": 183.582318, "relative_strength": -39.391924, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -52.326281, "energy": 37.536516, "activity_lines": [ 172.433333, 173.416373, 174.701735, 175.760771 ] }, { "date": "2026-06-05", "close": 181.0, "volume": 1598588, "typical_volume": 936897.6, "trend": 177.159754, "fair_value": 183.259351, "relative_strength": -36.178851, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -9.400947, "energy": 8.561477, "activity_lines": [ 175.566667, 174.60967, 175.187957, 176.011095 ] }, { "date": "2026-06-12", "close": 179.5, "volume": 985350, "typical_volume": 962521.0, "trend": 177.133805, "fair_value": 182.892999, "relative_strength": -34.541567, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 8.762382, "energy": 16.616375, "activity_lines": [ 177.366667, 175.405573, 175.527886, 176.162079 ] }, { "date": "2026-06-19", "close": 179.0, "volume": 653627, "typical_volume": 968358.45, "trend": 177.091189, "fair_value": 182.44032, "relative_strength": -37.083697, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 16.648195, "energy": 22.639596, "activity_lines": [ 178.4, 176.081818, 175.81716, 176.282478 ] }, { "date": "2026-06-26", "close": 178.5, "volume": 773368, "typical_volume": 972024.6, "trend": 177.047638, "fair_value": 182.007814, "relative_strength": -33.725626, "stage": 4, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 15.738014, "energy": 24.246544, "activity_lines": [ 178.8, 176.681818, 176.053667, 176.373369 ] }, { "date": "2026-07-03", "close": 180.0, "volume": 849900, "typical_volume": 986138.65, "trend": 177.038356, "fair_value": 181.636128, "relative_strength": -35.470583, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 19.803249, "energy": 34.373281, "activity_lines": [ 179.4, 177.590909, 176.425769, 176.563844 ] }, { "date": "2026-07-10", "close": 180.0, "volume": 0, "typical_volume": 969584.85, "trend": 177.060536, "fair_value": 181.400938, "relative_strength": -32.556705, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 29.703794, "energy": 31.999452, "activity_lines": [ 179.533333, 178.390909, 176.792455, 176.754918 ] }, { "date": "2026-07-17", "close": 178.5, "volume": 673354, "typical_volume": 977950.8, "trend": 177.032716, "fair_value": 181.15078, "relative_strength": -28.01341, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 25.662248, "energy": 23.80722, "activity_lines": [ 179.233333, 178.709091, 177.013116, 176.847787 ] }, { "date": "2026-07-24", "close": 179.0, "volume": 776797, "typical_volume": 961190.65, "trend": 177.037294, "fair_value": 180.93862, "relative_strength": -28.556191, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 23.893895, "energy": 20.333367, "activity_lines": [ 179.166667, 178.972727, 177.278627, 176.974708 ] }, { "date": "2026-07-31", "close": 178.0, "volume": 1623629, "typical_volume": 999295.95, "trend": 177.008538, "fair_value": 180.717373, "relative_strength": -27.188489, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 37.884675, "energy": 21.029568, "activity_lines": [ 178.766667, 178.927273, 177.428021, 177.036818 ] }, { "date": "2026-08-07", "close": 179.5, "volume": 889508, "typical_volume": 1021864.35, "trend": 177.029782, "fair_value": 180.519123, "relative_strength": -27.517891, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 40.700603, "energy": 20.655297, "activity_lines": [ 178.9, 179.081818, 177.701907, 177.197558 ] }, { "date": "2026-08-14", "close": 177.5, "volume": 677427, "typical_volume": 1037803.9, "trend": 176.937166, "fair_value": 180.33214, "relative_strength": -29.922327, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 34.526135, "energy": 15.959197, "activity_lines": [ 178.4, 178.754545, 177.762056, 177.227895 ] } ], "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." } } }