{ "ticker": { "uuid": "9143afbb-5de2-40f2-8516-499182fc5000", "symbol": "3807", "name": "Fisco Ltd.", "exchange": "JPX", "country": "JP", "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": "2026-08-21", "benchmark": "^N225", "stage": 4, "stage_name": "Declining", "phase": "4b", "phase_label": "Stage 4B \u00b7 Declining", "transition": "stage_4_declining", "transition_label": "Stage 4 decline intact", "confidence": 96.0, "architecture_regime": "downward_expansion", "architecture_regime_label": "Downward Expansion", "architecture_modifier": "Established contraction", "architecture_gate": "down", "architecture_direction": -49.71, "architecture_energy": 45.159, "architecture_maturity": 100.0, "architecture_confidence": 59.327, "architecture_tenure": "Extended", "architecture": { "interpretation": { "headline": "The weekly architecture is expanding downward.", "body": "Trend and Activity show sustained negative alignment with weak price acceptance. Repair requires persistent improvement across the structure, not merely one strong observation." }, "scores": { "balance": 19.05, "rotation_up": 27.61, "upward_expansion": 19.49, "deceleration": 66.7, "rotation_down": 42.54, "downward_expansion": 69.49 }, "activity_lines": [ 86.933333, 86.254545, 89.628571, 94.369892 ], "activity_state": "Wide", "activity_direction": "Contracting", "rotation_direction": "Improving", "price_acceptance": -0.5 }, "latest_close": 90.0, "trend_reference": 101.033333, "distance_from_trend": -0.109205, "trend_direction": "Weakening", "fair_value": 116.141026, "distance_from_fair_value": -0.22508, "fair_value_direction": "Weakening", "relative_strength": -36.727622, "relative_strength_direction": "Improving", "price_momentum": -0.230769, "excess_performance": -0.392503, "evidence": [ { "label": "Price vs Trend", "positive": false, "value": -0.109205, "read": "Below" }, { "label": "Trend direction", "positive": false, "value": -0.119919, "read": "Falling" }, { "label": "Price vs current Fair Value", "positive": false, "value": -0.22508, "read": "Below anchor" }, { "label": "Fair Value direction", "positive": false, "value": -0.068962, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.367276, "read": "Lagging" }, { "label": "Relative strength direction", "positive": true, "value": 0.064879, "read": "Improving" }, { "label": "Price momentum", "positive": false, "value": -0.230769, "read": "Negative" }, { "label": "Volume balance", "positive": true, "value": 1.902341, "read": "Demand-led" } ], "volume": { "latest": 1597600, "relative_activity": 3.001061, "balance": 1.902341, "dry_up": 1.776949, "accumulation_observations": 4, "distribution_observations": 2 }, "risk": { "range_context": 0.054701, "annualized_volatility": 0.280653, "from_high_reference": -0.571429, "from_low_reference": 0.111111 }, "levels": { "trend_reference": 101.033333, "fair_value_reference": 116.141026, "structural_low": 81.0, "invalidation": "Reclaiming a flat-to-rising Trend with improving relative strength is required before the declining diagnosis is repaired." }, "outcomes": [ { "horizon": "Near term", "sample_count": 44, "median_return": -0.021669, "positive_rate": 0.318182, "directional_follow_through": 0.636364, "median_excess_return": -0.032897, "regime_survival": 0.909091, "best_return": 0.69863, "worst_return": -0.171717, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 16, "median_return": -0.08323, "positive_rate": 0.375, "directional_follow_through": 0.625, "median_excess_return": -0.101869, "regime_survival": 0.75, "best_return": 1.311688, "worst_return": -0.186441, "sufficient": true }, { "horizon": "Extended", "sample_count": 9, "median_return": -0.08, "positive_rate": 0.444444, "directional_follow_through": 0.555556, "median_excess_return": -0.150544, "regime_survival": 0.666667, "best_return": 1.342105, "worst_return": -0.309353, "sufficient": true }, { "horizon": "Full cycle", "sample_count": 4, "median_return": -0.155752, "positive_rate": 0.25, "directional_follow_through": 0.75, "median_excess_return": -0.247349, "regime_survival": 0.5, "best_return": 0.868421, "worst_return": -0.237719, "sufficient": false } ], "ledger": [ { "regime": "balance", "label": "Balance", "color": "blue", "start": "2022-04-15", "end": "2022-04-22", "tenure": "New", "return": -0.052023, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2022-04-29", "end": "2024-02-23", "tenure": "Extended", "return": -0.47314, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "violet", "start": "2024-03-01", "end": "2024-04-12", "tenure": "Developing", "return": -0.082569, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2024-04-19", "end": "2024-06-21", "tenure": "Developing", "return": -0.010526, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2024-06-28", "end": "2024-08-02", "tenure": "Developing", "return": -0.094737, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2024-08-09", "end": "2024-11-08", "tenure": "Established", "return": 0.013158, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "violet", "start": "2024-11-15", "end": "2024-12-06", "tenure": "New", "return": 0.024793, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2024-12-13", "end": "2025-03-07", "tenure": "Established", "return": -0.094118, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-03-14", "end": "2025-04-25", "tenure": "Developing", "return": -0.161074, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2025-05-02", "end": "2025-05-09", "tenure": "New", "return": 0.0625, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-05-16", "end": "2025-05-23", "tenure": "New", "return": 0.180451, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-05-30", "end": "2025-10-17", "tenure": "Established", "return": -0.245614, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2025-10-24", "end": "2025-11-07", "tenure": "New", "return": -0.028986, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-11-14", "end": "2026-08-21", "tenure": "Extended", "return": -0.352518, "active": true } ], "chart_path": [ { "date": "2023-09-01", "close": 117.0, "volume": 728300, "typical_volume": 492855.0, "trend": 122.8, "fair_value": 158.583306, "relative_strength": -21.461407, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -61.331016, "energy": 50.271801, "activity_lines": [ 112.0, 113.363636, 116.333333, 118.946237 ] }, { "date": "2023-09-08", "close": 112.0, "volume": 803700, "typical_volume": 514280.0, "trend": 122.166667, "fair_value": 158.442682, "relative_strength": -23.934165, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -59.835095, "energy": 45.965317, "activity_lines": [ 112.066667, 112.818182, 115.67619, 118.249462 ] }, { "date": "2023-09-15", "close": 110.0, "volume": 503100, "typical_volume": 527290.0, "trend": 121.433333, "fair_value": 158.277146, "relative_strength": -26.663567, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -62.232146, "energy": 38.772423, "activity_lines": [ 111.6, 112.072727, 114.890476, 117.464516 ] }, { "date": "2023-09-22", "close": 108.0, "volume": 474600, "typical_volume": 545295.0, "trend": 120.6, "fair_value": 158.104835, "relative_strength": -24.792386, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -66.71443, "energy": 40.655837, "activity_lines": [ 110.733333, 111.145455, 113.990476, 116.597849 ] }, { "date": "2023-09-29", "close": 113.0, "volume": 434900, "typical_volume": 550540.0, "trend": 119.766667, "fair_value": 157.982714, "relative_strength": -19.292796, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -54.023114, "energy": 36.210861, "activity_lines": [ 111.2, 111.290909, 113.652381, 116.107527 ] }, { "date": "2023-10-06", "close": 106.0, "volume": 524400, "typical_volume": 554905.0, "trend": 118.633333, "fair_value": 157.803629, "relative_strength": -21.538828, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -68.20328, "energy": 44.267122, "activity_lines": [ 109.2, 110.236364, 112.709524, 115.219355 ] }, { "date": "2023-10-13", "close": 105.0, "volume": 367800, "typical_volume": 549905.0, "trend": 117.9, "fair_value": 157.678597, "relative_strength": -24.786407, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -69.060903, "energy": 49.073141, "activity_lines": [ 107.6, 109.181818, 111.747619, 114.339785 ] }, { "date": "2023-10-20", "close": 102.0, "volume": 452100, "typical_volume": 498390.0, "trend": 117.1, "fair_value": 157.504102, "relative_strength": -23.709113, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -72.294578, "energy": 56.553507, "activity_lines": [ 105.466667, 107.745455, 110.57619, 113.313978 ] }, { "date": "2023-10-27", "close": 103.0, "volume": 587100, "typical_volume": 502445.0, "trend": 116.3, "fair_value": 157.390434, "relative_strength": -21.598053, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -65.622158, "energy": 62.524625, "activity_lines": [ 104.2, 106.709091, 109.585714, 112.404301 ] }, { "date": "2023-11-03", "close": 100.0, "volume": 312900, "typical_volume": 488705.0, "trend": 115.433333, "fair_value": 157.215212, "relative_strength": -25.423382, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -69.976781, "energy": 66.137236, "activity_lines": [ 102.266667, 105.127273, 108.390476, 111.352688 ] }, { "date": "2023-11-10", "close": 97.0, "volume": 539800, "typical_volume": 478205.0, "trend": 114.466667, "fair_value": 157.044944, "relative_strength": -28.296083, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -74.472457, "energy": 67.392991, "activity_lines": [ 100.2, 103.2, 107.004762, 110.163441 ] }, { "date": "2023-11-17", "close": 96.0, "volume": 788200, "typical_volume": 475395.0, "trend": 113.5, "fair_value": 156.838034, "relative_strength": -30.434464, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -74.521759, "energy": 74.831621, "activity_lines": [ 98.4, 101.454545, 105.642857, 108.972043 ] }, { "date": "2023-11-24", "close": 101.0, "volume": 662200, "typical_volume": 490405.0, "trend": 112.666667, "fair_value": 156.63899, "relative_strength": -26.20513, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -63.84218, "energy": 65.519044, "activity_lines": [ 98.866667, 100.909091, 104.87619, 108.165591 ] }, { "date": "2023-12-01", "close": 99.0, "volume": 543300, "typical_volume": 501930.0, "trend": 111.766667, "fair_value": 156.396895, "relative_strength": -26.51492, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -62.151309, "energy": 60.066862, "activity_lines": [ 98.733333, 100.163636, 104.009524, 107.283871 ] }, { "date": "2023-12-08", "close": 99.0, "volume": 608900, "typical_volume": 525725.0, "trend": 110.866667, "fair_value": 156.130614, "relative_strength": -23.245952, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -59.509684, "energy": 51.193845, "activity_lines": [ 98.866667, 99.581818, 103.228571, 106.460215 ] }, { "date": "2023-12-15", "close": 100.0, "volume": 574000, "typical_volume": 544275.0, "trend": 110.133333, "fair_value": 155.786096, "relative_strength": -23.232822, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -55.030333, "energy": 39.930411, "activity_lines": [ 99.4, 99.436364, 102.628571, 105.75914 ] }, { "date": "2023-12-22", "close": 97.0, "volume": 858300, "typical_volume": 571615.0, "trend": 109.333333, "fair_value": 155.46467, "relative_strength": -25.187075, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -63.625275, "energy": 44.411674, "activity_lines": [ 98.733333, 98.854545, 101.819048, 104.911828 ] }, { "date": "2023-12-29", "close": 95.0, "volume": 1272800, "typical_volume": 628785.0, "trend": 108.5, "fair_value": 155.043024, "relative_strength": -26.559967, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -67.427416, "energy": 48.453601, "activity_lines": [ 97.333333, 98.054545, 100.9, 103.987097 ] }, { "date": "2024-01-05", "close": 95.0, "volume": 213200, "typical_volume": 601710.0, "trend": 107.666667, "fair_value": 154.528808, "relative_strength": -25.555308, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -67.358091, "energy": 58.74012, "activity_lines": [ 96.333333, 97.381818, 100.071429, 103.116129 ] }, { "date": "2024-01-12", "close": 95.0, "volume": 497400, "typical_volume": 587350.0, "trend": 106.833333, "fair_value": 153.983734, "relative_strength": -29.310674, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -65.253799, "energy": 64.611331, "activity_lines": [ 95.6, 96.854545, 99.280952, 102.298925 ] }, { "date": "2024-01-19", "close": 90.0, "volume": 808900, "typical_volume": 591380.0, "trend": 105.766667, "fair_value": 153.357239, "relative_strength": -32.907083, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -81.520007, "energy": 79.982723, "activity_lines": [ 93.466667, 95.509091, 98.090476, 101.212903 ] }, { "date": "2024-01-26", "close": 88.0, "volume": 891900, "typical_volume": 595790.0, "trend": 104.666667, "fair_value": 152.785808, "relative_strength": -33.157903, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -83.991779, "energy": 86.711746, "activity_lines": [ 91.333333, 93.927273, 96.838095, 100.066667 ] }, { "date": "2024-02-02", "close": 84.0, "volume": 805000, "typical_volume": 610885.0, "trend": 103.466667, "fair_value": 152.059136, "relative_strength": -36.112722, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -88.142557, "energy": 91.644179, "activity_lines": [ 88.466667, 91.763636, 95.319048, 98.733333 ] }, { "date": "2024-02-09", "close": 85.0, "volume": 644700, "typical_volume": 619390.0, "trend": 102.4, "fair_value": 151.067335, "relative_strength": -35.822734, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -77.871625, "energy": 90.255745, "activity_lines": [ 86.666667, 90.090909, 94.019048, 97.541935 ] }, { "date": "2024-02-16", "close": 83.0, "volume": 634300, "typical_volume": 629360.0, "trend": 101.266667, "fair_value": 149.988657, "relative_strength": -39.059125, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -79.425617, "energy": 90.989396, "activity_lines": [ 84.866667, 88.309091, 92.638095, 96.290323 ] }, { "date": "2024-02-23", "close": 85.0, "volume": 1708300, "typical_volume": 688555.0, "trend": 100.233333, "fair_value": 149.070912, "relative_strength": -37.661959, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -67.44692, "energy": 81.00141, "activity_lines": [ 84.533333, 87.181818, 91.590476, 95.24086 ] }, { "date": "2024-03-01", "close": 109.0, "volume": 16369100, "typical_volume": 1488620.0, "trend": 100.066667, "fair_value": 148.442783, "relative_strength": -20.721037, "stage": 1, "regime": "rotation_up", "modifier": "Structural repair", "gate": "down", "direction": -11.509228, "energy": 12.867839, "activity_lines": [ 92.533333, 90.690909, 92.928571, 95.806452 ] }, { "date": "2024-03-08", "close": 109.0, "volume": 16781000, "typical_volume": 2305065.0, "trend": 99.9, "fair_value": 147.746769, "relative_strength": -19.273768, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "down", "direction": -0.527072, "energy": 15.956232, "activity_lines": [ 99.133333, 93.981818, 94.247619, 96.382796 ] }, { "date": "2024-03-15", "close": 111.0, "volume": 2608500, "typical_volume": 2406135.0, "trend": 100.166667, "fair_value": 147.038891, "relative_strength": -14.852394, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 30.999796, "energy": 36.981165, "activity_lines": [ 104.733333, 97.381818, 95.72381, 97.098925 ] }, { "date": "2024-03-22", "close": 111.0, "volume": 1727400, "typical_volume": 2476860.0, "trend": 100.166667, "fair_value": 146.435926, "relative_strength": -18.516087, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 29.435129, "energy": 41.251277, "activity_lines": [ 108.6, 100.490909, 97.161905, 97.797849 ] }, { "date": "2024-03-29", "close": 110.0, "volume": 1816400, "typical_volume": 2540690.0, "trend": 99.933333, "fair_value": 145.814208, "relative_strength": -17.351344, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 34.332803, "energy": 54.420529, "activity_lines": [ 110.266667, 103.127273, 98.452381, 98.432258 ] }, { "date": "2024-04-05", "close": 99.0, "volume": 1486200, "typical_volume": 2575590.0, "trend": 99.5, "fair_value": 145.159005, "relative_strength": -22.061339, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 29.480048, "energy": 37.465783, "activity_lines": [ 106.6, 103.4, 98.633333, 98.372043 ] }, { "date": "2024-04-12", "close": 100.0, "volume": 776600, "typical_volume": 2581310.0, "trend": 99.166667, "fair_value": 144.522555, "relative_strength": -21.45548, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 23.216693, "energy": 18.585595, "activity_lines": [ 103.933333, 103.654545, 98.895238, 98.404301 ] }, { "date": "2024-04-19", "close": 95.0, "volume": 911700, "typical_volume": 2599730.0, "trend": 98.733333, "fair_value": 143.903425, "relative_strength": -19.569824, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -1.85846, "energy": 6.876489, "activity_lines": [ 100.2, 102.709091, 98.685714, 98.135484 ] }, { "date": "2024-04-26", "close": 98.0, "volume": 589300, "typical_volume": 2598750.0, "trend": 98.233333, "fair_value": 143.328212, "relative_strength": -18.042959, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -2.44878, "energy": 11.85798, "activity_lines": [ 98.533333, 102.127273, 98.780952, 98.088172 ] }, { "date": "2024-05-03", "close": 99.0, "volume": 232000, "typical_volume": 2581650.0, "trend": 98.0, "fair_value": 142.697694, "relative_strength": -16.981801, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 23.007492, "energy": 17.384566, "activity_lines": [ 98.066667, 101.454545, 98.97619, 98.137634 ] }, { "date": "2024-05-10", "close": 100.0, "volume": 433900, "typical_volume": 2560430.0, "trend": 97.833333, "fair_value": 142.178501, "relative_strength": -15.254469, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 23.275607, "energy": 15.293993, "activity_lines": [ 98.666667, 100.709091, 99.271429, 98.266667 ] }, { "date": "2024-05-17", "close": 97.0, "volume": 562100, "typical_volume": 2524895.0, "trend": 97.666667, "fair_value": 141.590706, "relative_strength": -18.236687, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 19.255187, "energy": 10.785582, "activity_lines": [ 98.2, 99.581818, 99.266667, 98.212903 ] }, { "date": "2024-05-24", "close": 98.0, "volume": 515300, "typical_volume": 2540000.0, "trend": 97.5, "fair_value": 141.027835, "relative_strength": -16.36722, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 10.820218, "energy": 6.650339, "activity_lines": [ 98.266667, 98.854545, 99.347619, 98.234409 ] }, { "date": "2024-05-31", "close": 95.0, "volume": 574500, "typical_volume": 2543855.0, "trend": 97.333333, "fair_value": 140.495104, "relative_strength": -17.897261, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -15.694268, "energy": 11.57342, "activity_lines": [ 97.133333, 97.818182, 99.128571, 98.073118 ] }, { "date": "2024-06-07", "close": 97.0, "volume": 367700, "typical_volume": 2521795.0, "trend": 97.333333, "fair_value": 139.987537, "relative_strength": -15.942088, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -11.611796, "energy": 21.327072, "activity_lines": [ 96.866667, 97.436364, 99.1, 98.051613 ] }, { "date": "2024-06-14", "close": 96.0, "volume": 297800, "typical_volume": 2492090.0, "trend": 97.333333, "fair_value": 139.473559, "relative_strength": -16.503599, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -16.042679, "energy": 29.888446, "activity_lines": [ 96.4, 97.109091, 98.942857, 97.965591 ] }, { "date": "2024-06-21", "close": 94.0, "volume": 474900, "typical_volume": 2475585.0, "trend": 97.1, "fair_value": 138.915904, "relative_strength": -17.088842, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -25.974784, "energy": 40.250354, "activity_lines": [ 95.533333, 96.472727, 98.557143, 97.750538 ] }, { "date": "2024-06-28", "close": 95.0, "volume": 646100, "typical_volume": 2475655.0, "trend": 96.966667, "fair_value": 138.395516, "relative_strength": -17.623511, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -19.318027, "energy": 34.706687, "activity_lines": [ 95.2, 96.127273, 98.219048, 97.615054 ] }, { "date": "2024-07-05", "close": 93.0, "volume": 440000, "typical_volume": 2465940.0, "trend": 96.766667, "fair_value": 137.886993, "relative_strength": -21.233472, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -30.308215, "energy": 44.267515, "activity_lines": [ 94.4, 95.418182, 97.642857, 97.35914 ] }, { "date": "2024-07-12", "close": 93.0, "volume": 568500, "typical_volume": 2408950.0, "trend": 96.533333, "fair_value": 137.366127, "relative_strength": -21.05321, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -37.262357, "energy": 48.605596, "activity_lines": [ 93.733333, 94.8, 97.019048, 97.116129 ] }, { "date": "2024-07-19", "close": 92.0, "volume": 370300, "typical_volume": 1609010.0, "trend": 96.366667, "fair_value": 136.801823, "relative_strength": -18.983315, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -42.27821, "energy": 54.834172, "activity_lines": [ 93.0, 94.109091, 96.261905, 96.823656 ] }, { "date": "2024-07-26", "close": 89.0, "volume": 2071800, "typical_volume": 873550.0, "trend": 96.166667, "fair_value": 136.255316, "relative_strength": -15.967258, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -49.763047, "energy": 59.955674, "activity_lines": [ 91.533333, 93.018182, 95.3, 96.348387 ] }, { "date": "2024-08-02", "close": 86.0, "volume": 930500, "typical_volume": 789650.0, "trend": 95.866667, "fair_value": 135.763636, "relative_strength": -14.152193, "stage": 4, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -80.93203, "energy": 75.598786, "activity_lines": [ 89.4, 91.527273, 94.147619, 95.692473 ] }, { "date": "2024-08-09", "close": 76.0, "volume": 1626000, "typical_volume": 784580.0, "trend": 95.233333, "fair_value": 135.176995, "relative_strength": -21.492652, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -89.616986, "energy": 82.598627, "activity_lines": [ 84.533333, 88.436364, 92.161905, 94.410753 ] }, { "date": "2024-08-16", "close": 82.0, "volume": 587400, "typical_volume": 723130.0, "trend": 94.966667, "fair_value": 134.752244, "relative_strength": -21.442271, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -69.558104, "energy": 76.240721, "activity_lines": [ 82.8, 86.781818, 90.914286, 93.556989 ] }, { "date": "2024-08-23", "close": 87.0, "volume": 603600, "typical_volume": 679000.0, "trend": 94.933333, "fair_value": 134.248459, "relative_strength": -16.580727, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -63.987865, "energy": 64.297351, "activity_lines": [ 83.466667, 86.309091, 90.27619, 93.043011 ] }, { "date": "2024-08-30", "close": 83.0, "volume": 582300, "typical_volume": 669285.0, "trend": 94.9, "fair_value": 133.262351, "relative_strength": -20.192959, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -63.908696, "energy": 52.723999, "activity_lines": [ 83.133333, 85.272727, 89.314286, 92.273118 ] }, { "date": "2024-09-06", "close": 76.0, "volume": 923400, "typical_volume": 669870.0, "trend": 94.6, "fair_value": 132.416513, "relative_strength": -21.638909, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -77.384656, "energy": 55.083716, "activity_lines": [ 80.866667, 83.163636, 87.766667, 91.053763 ] }, { "date": "2024-09-13", "close": 77.0, "volume": 642600, "typical_volume": 672535.0, "trend": 94.4, "fair_value": 131.570914, "relative_strength": -20.345203, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -70.586563, "energy": 52.275439, "activity_lines": [ 79.6, 81.581818, 86.404762, 89.91828 ] }, { "date": "2024-09-20", "close": 76.0, "volume": 585400, "typical_volume": 690205.0, "trend": 94.1, "fair_value": 130.774446, "relative_strength": -23.02142, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -69.840177, "energy": 57.98892, "activity_lines": [ 77.933333, 80.109091, 85.047619, 88.731183 ] }, { "date": "2024-09-27", "close": 78.0, "volume": 373500, "typical_volume": 687185.0, "trend": 93.066667, "fair_value": 130.064856, "relative_strength": -24.288516, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -62.289143, "energy": 56.295958, "activity_lines": [ 77.333333, 79.309091, 83.990476, 87.692473 ] }, { "date": "2024-10-04", "close": 76.0, "volume": 644100, "typical_volume": 691285.0, "trend": 91.966667, "fair_value": 129.342446, "relative_strength": -23.119722, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -64.781547, "energy": 51.156229, "activity_lines": [ 76.666667, 78.4, 82.847619, 86.591398 ] }, { "date": "2024-10-11", "close": 70.0, "volume": 1017600, "typical_volume": 716400.0, "trend": 90.6, "fair_value": 128.556888, "relative_strength": -30.14584, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -76.354423, "energy": 56.554506, "activity_lines": [ 74.466667, 76.636364, 81.233333, 85.174194 ] }, { "date": "2024-10-18", "close": 69.0, "volume": 830000, "typical_volume": 729175.0, "trend": 89.2, "fair_value": 127.801948, "relative_strength": -29.238487, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -73.390475, "energy": 57.264559, "activity_lines": [ 72.333333, 74.981818, 79.657143, 83.780645 ] }, { "date": "2024-10-25", "close": 65.0, "volume": 1492200, "typical_volume": 785400.0, "trend": 87.7, "fair_value": 127.052224, "relative_strength": -30.604735, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -79.022801, "energy": 76.099783, "activity_lines": [ 69.4, 72.727273, 77.82381, 82.219355 ] }, { "date": "2024-11-01", "close": 73.0, "volume": 1642400, "typical_volume": 852630.0, "trend": 86.833333, "fair_value": 126.273555, "relative_strength": -21.61071, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -63.04611, "energy": 62.919931, "activity_lines": [ 69.866667, 72.236364, 76.904762, 81.270968 ] }, { "date": "2024-11-08", "close": 77.0, "volume": 9306300, "typical_volume": 1294200.0, "trend": 86.066667, "fair_value": 125.514354, "relative_strength": -19.694345, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -59.820932, "energy": 46.538895, "activity_lines": [ 72.0, 72.727273, 76.47619, 80.636559 ] }, { "date": "2024-11-15", "close": 121.0, "volume": 114010600, "typical_volume": 6962425.0, "trend": 86.933333, "fair_value": 125.092748, "relative_strength": 28.71656, "stage": 1, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 36.965859, "energy": 31.076092, "activity_lines": [ 88.733333, 81.327273, 80.319048, 82.890323 ] }, { "date": "2024-11-22", "close": 136.0, "volume": 42501900, "typical_volume": 9065520.0, "trend": 88.2, "fair_value": 124.761124, "relative_strength": 45.399293, "stage": 1, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 48.787213, "energy": 50.806831, "activity_lines": [ 107.066667, 91.836364, 85.466667, 86.055914 ] }, { "date": "2024-11-29", "close": 124.0, "volume": 5069700, "typical_volume": 9290580.0, "trend": 89.033333, "fair_value": 124.395777, "relative_strength": 32.536627, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 45.5275, "energy": 60.764284, "activity_lines": [ 116.933333, 99.090909, 89.266667, 88.365591 ] }, { "date": "2024-12-06", "close": 124.0, "volume": 8836000, "typical_volume": 9713865.0, "trend": 89.833333, "fair_value": 124.005744, "relative_strength": 29.432802, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "up", "direction": 67.356203, "energy": 80.813214, "activity_lines": [ 122.866667, 105.472727, 92.919048, 90.621505 ] }, { "date": "2024-12-13", "close": 170.0, "volume": 133689100, "typical_volume": 16294730.0, "trend": 92.266667, "fair_value": 123.89824, "relative_strength": 74.003586, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 87.563097, "energy": 87.421727, "activity_lines": [ 140.733333, 119.381818, 100.8, 95.793548 ] }, { "date": "2024-12-20", "close": 169.0, "volume": 11749200, "typical_volume": 16835665.0, "trend": 94.633333, "fair_value": 123.765812, "relative_strength": 74.460155, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 80.852949, "energy": 80.416025, "activity_lines": [ 152.066667, 131.4, 108.2, 100.744086 ] }, { "date": "2024-12-27", "close": 172.0, "volume": 14853300, "typical_volume": 17497030.0, "trend": 97.2, "fair_value": 123.621082, "relative_strength": 68.74039, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 75.574822, "energy": 66.038833, "activity_lines": [ 161.2, 142.163636, 115.490476, 105.735484 ] }, { "date": "2025-01-03", "close": 160.0, "volume": 5346100, "typical_volume": 17734965.0, "trend": 99.3, "fair_value": 123.505983, "relative_strength": 57.098906, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 65.593227, "energy": 58.262958, "activity_lines": [ 163.933333, 148.872727, 121.180952, 109.787097 ] }, { "date": "2025-01-10", "close": 128.0, "volume": 10902000, "typical_volume": 18249885.0, "trend": 100.366667, "fair_value": 123.242165, "relative_strength": 27.365544, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 60.044273, "energy": 46.001196, "activity_lines": [ 153.6, 148.036364, 123.452381, 111.63871 ] }, { "date": "2025-01-17", "close": 141.0, "volume": 6996500, "typical_volume": 18570595.0, "trend": 101.933333, "fair_value": 123.086752, "relative_strength": 41.75946, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 45.367927, "energy": 32.400728, "activity_lines": [ 147.333333, 148.563636, 126.766667, 114.260215 ] }, { "date": "2025-01-24", "close": 230.0, "volume": 132913200, "typical_volume": 25170085.0, "trend": 106.433333, "fair_value": 123.56453, "relative_strength": 117.336138, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 79.071233, "energy": 48.231564, "activity_lines": [ 172.666667, 164.109091, 138.280952, 122.522581 ] }, { "date": "2025-01-31", "close": 187.0, "volume": 26452200, "typical_volume": 26460565.0, "trend": 109.566667, "fair_value": 123.666382, "relative_strength": 75.253852, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 59.543941, "energy": 41.106748, "activity_lines": [ 179.6, 169.854545, 144.966667, 127.72043 ] }, { "date": "2025-02-07", "close": 178.0, "volume": 15896000, "typical_volume": 27226095.0, "trend": 112.4, "fair_value": 123.622792, "relative_strength": 67.467639, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 55.34797, "energy": 41.558205, "activity_lines": [ 182.533333, 173.036364, 150.271429, 132.135484 ] }, { "date": "2025-02-14", "close": 186.0, "volume": 8348800, "typical_volume": 27624860.0, "trend": 115.533333, "fair_value": 123.542735, "relative_strength": 70.274127, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 57.071022, "energy": 52.850907, "activity_lines": [ 186.933333, 176.690909, 155.852381, 136.883871 ] }, { "date": "2025-02-21", "close": 173.0, "volume": 9263900, "typical_volume": 28055850.0, "trend": 118.333333, "fair_value": 123.636325, "relative_strength": 57.412889, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 53.03317, "energy": 36.617363, "activity_lines": [ 183.133333, 176.854545, 159.680952, 140.591398 ] }, { "date": "2025-02-28", "close": 142.0, "volume": 4893800, "typical_volume": 28249660.0, "trend": 120.2, "fair_value": 123.524929, "relative_strength": 33.853825, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 36.125904, "energy": 21.094594, "activity_lines": [ 166.866667, 171.327273, 160.095238, 142.11828 ] }, { "date": "2025-03-07", "close": 154.0, "volume": 9990200, "typical_volume": 28707670.0, "trend": 122.8, "fair_value": 123.53433, "relative_strength": 44.827895, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 31.014653, "energy": 15.855258, "activity_lines": [ 160.466667, 168.472727, 161.309524, 144.298925 ] }, { "date": "2025-03-14", "close": 149.0, "volume": 2362400, "typical_volume": 28751180.0, "trend": 125.033333, "fair_value": 123.423931, "relative_strength": 38.432818, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 25.747622, "energy": 18.743106, "activity_lines": [ 154.6, 165.036364, 161.642857, 145.989247 ] }, { "date": "2025-03-21", "close": 155.0, "volume": 1503600, "typical_volume": 28744240.0, "trend": 127.3, "fair_value": 123.333191, "relative_strength": 40.322618, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 23.739435, "energy": 18.504387, "activity_lines": [ 152.666667, 162.890909, 162.147619, 147.922581 ] }, { "date": "2025-03-28", "close": 145.0, "volume": 6122700, "typical_volume": 28585060.0, "trend": 129.366667, "fair_value": 123.147008, "relative_strength": 32.213768, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 10.058094, "energy": 10.733828, "activity_lines": [ 149.466667, 158.436364, 161.309524, 149.064516 ] }, { "date": "2025-04-04", "close": 130.0, "volume": 2058900, "typical_volume": 22987475.0, "trend": 131.166667, "fair_value": 122.889743, "relative_strength": 29.154937, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": -0.594027, "energy": 10.307071, "activity_lines": [ 143.133333, 151.181818, 158.719048, 149.105376 ] }, { "date": "2025-04-11", "close": 129.0, "volume": 3413800, "typical_volume": 21033070.0, "trend": 132.9, "fair_value": 122.632336, "relative_strength": 27.824167, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": -0.771072, "energy": 14.849465, "activity_lines": [ 137.266667, 145.563636, 155.990476, 148.965591 ] }, { "date": "2025-04-18", "close": 133.0, "volume": 1711400, "typical_volume": 20865155.0, "trend": 134.8, "fair_value": 122.45698, "relative_strength": 26.41918, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -17.465004, "energy": 27.732892, "activity_lines": [ 134.4, 141.727273, 153.67619, 148.972043 ] }, { "date": "2025-04-25", "close": 125.0, "volume": 3632500, "typical_volume": 20604980.0, "trend": 136.366667, "fair_value": 122.224074, "relative_strength": 14.899849, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -26.616565, "energy": 44.559262, "activity_lines": [ 129.933333, 137.254545, 150.557143, 148.339785 ] }, { "date": "2025-05-02", "close": 128.0, "volume": 864000, "typical_volume": 13963725.0, "trend": 138.1, "fair_value": 122.041738, "relative_strength": 13.429284, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -33.844958, "energy": 46.622363, "activity_lines": [ 128.466667, 134.436364, 147.719048, 147.8 ] }, { "date": "2025-05-09", "close": 136.0, "volume": 3659400, "typical_volume": 13559235.0, "trend": 140.3, "fair_value": 121.910683, "relative_strength": 17.611094, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -30.348085, "energy": 38.14071, "activity_lines": [ 130.8, 133.890909, 145.842857, 147.664516 ] }, { "date": "2025-05-16", "close": 133.0, "volume": 2597600, "typical_volume": 12946450.0, "trend": 142.433333, "fair_value": 121.754131, "relative_strength": 13.530238, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "mixed", "direction": -27.851851, "energy": 32.633053, "activity_lines": [ 131.733333, 132.909091, 143.838095, 147.193548 ] }, { "date": "2025-05-23", "close": 157.0, "volume": 49079000, "typical_volume": 15133095.0, "trend": 145.5, "fair_value": 121.738889, "relative_strength": 34.745879, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "mixed", "direction": 0.960134, "energy": 5.4786, "activity_lines": [ 140.4, 136.672727, 144.304762, 148.133333 ] }, { "date": "2025-05-30", "close": 171.0, "volume": 69382500, "typical_volume": 18057120.0, "trend": 148.766667, "fair_value": 121.819658, "relative_strength": 41.879419, "stage": 2, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 19.350443, "energy": 18.620699, "activity_lines": [ 152.133333, 142.836364, 146.119048, 149.778495 ] }, { "date": "2025-06-06", "close": 162.0, "volume": 7266200, "typical_volume": 18070605.0, "trend": 151.6, "fair_value": 121.792592, "relative_strength": 33.761793, "stage": 2, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 14.705183, "energy": 20.600813, "activity_lines": [ 157.8, 147.072727, 146.871429, 150.632258 ] }, { "date": "2025-06-13", "close": 170.0, "volume": 12049600, "typical_volume": 12027425.0, "trend": 153.233333, "fair_value": 121.879487, "relative_strength": 38.348832, "stage": 2, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 22.735852, "energy": 27.510048, "activity_lines": [ 163.866667, 152.454545, 148.285714, 151.819355 ] }, { "date": "2025-06-20", "close": 165.0, "volume": 4356500, "typical_volume": 10922640.0, "trend": 154.2, "fair_value": 121.928062, "relative_strength": 30.848362, "stage": 2, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 17.797492, "energy": 30.009673, "activity_lines": [ 166.0, 156.2, 149.509524, 152.578495 ] }, { "date": "2025-06-27", "close": 153.0, "volume": 1679100, "typical_volume": 10211795.0, "trend": 155.166667, "fair_value": 121.893447, "relative_strength": 15.10025, "stage": 2, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 14.922916, "energy": 22.998218, "activity_lines": [ 162.0, 157.109091, 149.695238, 152.501075 ] }, { "date": "2025-07-04", "close": 140.0, "volume": 2519500, "typical_volume": 9920330.0, "trend": 155.7, "fair_value": 121.781766, "relative_strength": 5.458015, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -28.245373, "energy": 14.167615, "activity_lines": [ 153.933333, 155.290909, 148.761905, 151.522581 ] }, { "date": "2025-07-11", "close": 153.0, "volume": 3649200, "typical_volume": 9639595.0, "trend": 155.133333, "fair_value": 121.772222, "relative_strength": 14.887141, "stage": 2, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -6.277025, "energy": 6.710591, "activity_lines": [ 152.266667, 155.563636, 149.285714, 151.348387 ] }, { "date": "2025-07-18", "close": 138.0, "volume": 5213600, "typical_volume": 9655585.0, "trend": 154.1, "fair_value": 121.622649, "relative_strength": 2.291125, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -39.258244, "energy": 23.354006, "activity_lines": [ 146.2, 152.654545, 148.47619, 150.243011 ] }, { "date": "2025-07-25", "close": 138.0, "volume": 1828600, "typical_volume": 9247505.0, "trend": 152.966667, "fair_value": 121.485612, "relative_strength": -2.284186, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -41.172598, "energy": 26.165601, "activity_lines": [ 142.266667, 149.709091, 147.685714, 149.204301 ] }, { "date": "2025-08-01", "close": 145.0, "volume": 3228600, "typical_volume": 9290815.0, "trend": 152.466667, "fair_value": 121.405983, "relative_strength": 3.646662, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -36.164436, "energy": 21.263758, "activity_lines": [ 142.466667, 147.945455, 147.638095, 148.690323 ] }, { "date": "2025-08-08", "close": 142.0, "volume": 2360000, "typical_volume": 9333635.0, "trend": 152.933333, "fair_value": 121.31339, "relative_strength": -1.651529, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -47.567897, "energy": 25.916786, "activity_lines": [ 142.2, 145.854545, 147.32381, 148.015054 ] }, { "date": "2025-08-15", "close": 147.0, "volume": 2309400, "typical_volume": 9142970.0, "trend": 153.133333, "fair_value": 121.259117, "relative_strength": -2.515178, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -44.278692, "energy": 21.041778, "activity_lines": [ 143.466667, 145.2, 147.547619, 147.632258 ] }, { "date": "2025-08-22", "close": 160.0, "volume": 37123300, "typical_volume": 10896190.0, "trend": 150.8, "fair_value": 121.269373, "relative_strength": 7.080337, "stage": 2, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -8.98219, "energy": 5.729127, "activity_lines": [ 149.466667, 147.181818, 149.0, 148.075269 ] }, { "date": "2025-08-29", "close": 167.0, "volume": 57646000, "typical_volume": 13607800.0, "trend": 150.133333, "fair_value": 121.35584, "relative_strength": 10.474341, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 17.512244, "energy": 19.978453, "activity_lines": [ 156.333333, 150.618182, 150.97619, 149.12043 ] }, { "date": "2025-09-05", "close": 153.0, "volume": 6555800, "typical_volume": 13850020.0, "trend": 149.3, "fair_value": 121.352564, "relative_strength": -0.289048, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 44.546971, "energy": 32.049724, "activity_lines": [ 156.6, 151.472727, 151.438095, 149.305376 ] }, { "date": "2025-09-12", "close": 152.0, "volume": 2581000, "typical_volume": 13797445.0, "trend": 148.166667, "fair_value": 121.355413, "relative_strength": -5.469281, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 44.98217, "energy": 34.945289, "activity_lines": [ 156.0, 152.145455, 151.709524, 149.47957 ] }, { "date": "2025-09-19", "close": 152.0, "volume": 2410700, "typical_volume": 13874780.0, "trend": 147.466667, "fair_value": 121.377065, "relative_strength": -6.731033, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 44.135457, "energy": 30.031908, "activity_lines": [ 154.733333, 152.6, 151.852381, 149.726882 ] }, { "date": "2025-09-26", "close": 145.0, "volume": 1417000, "typical_volume": 13762660.0, "trend": 147.566667, "fair_value": 121.397721, "relative_strength": -12.210849, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 22.704511, "energy": 10.459314, "activity_lines": [ 150.8, 151.8, 151.214286, 149.567742 ] }, { "date": "2025-10-03", "close": 138.0, "volume": 1506800, "typical_volume": 13708120.0, "trend": 147.033333, "fair_value": 121.360968, "relative_strength": -17.661312, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -15.853906, "energy": 13.777524, "activity_lines": [ 145.533333, 149.6, 149.866667, 148.950538 ] }, { "date": "2025-10-10", "close": 139.0, "volume": 1378000, "typical_volume": 11323070.0, "trend": 146.7, "fair_value": 121.336894, "relative_strength": -21.527418, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -16.829952, "energy": 18.877581, "activity_lines": [ 142.533333, 147.581818, 148.590476, 148.432258 ] }, { "date": "2025-10-17", "close": 129.0, "volume": 1455600, "typical_volume": 7926725.0, "trend": 145.833333, "fair_value": 121.217379, "relative_strength": -26.757315, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -38.851569, "energy": 45.884245, "activity_lines": [ 137.133333, 143.854545, 146.447619, 147.290323 ] }, { "date": "2025-10-24", "close": 138.0, "volume": 1665500, "typical_volume": 7646690.0, "trend": 145.6, "fair_value": 121.180627, "relative_strength": -24.800824, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -27.630487, "energy": 44.631019, "activity_lines": [ 136.266667, 142.0, 145.361905, 146.784946 ] }, { "date": "2025-10-31", "close": 133.0, "volume": 1665000, "typical_volume": 7127460.0, "trend": 145.7, "fair_value": 121.105555, "relative_strength": -32.045696, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -31.493315, "energy": 43.705374, "activity_lines": [ 134.666667, 139.4, 143.914286, 145.972043 ] }, { "date": "2025-11-07", "close": 134.0, "volume": 670400, "typical_volume": 6943155.0, "trend": 145.866667, "fair_value": 121.018091, "relative_strength": -28.88958, "stage": 4, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -56.255325, "energy": 48.578659, "activity_lines": [ 134.2, 137.472727, 142.738095, 145.217204 ] }, { "date": "2025-11-14", "close": 139.0, "volume": 979800, "typical_volume": 6908190.0, "trend": 146.066667, "fair_value": 120.981481, "relative_strength": -26.242081, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -51.58491, "energy": 29.566726, "activity_lines": [ 135.666667, 137.054545, 142.185714, 144.774194 ] }, { "date": "2025-11-21", "close": 138.0, "volume": 1372100, "typical_volume": 6850820.0, "trend": 146.5, "fair_value": 120.957265, "relative_strength": -23.856707, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -41.347371, "energy": 25.471905, "activity_lines": [ 136.8, 136.709091, 141.604762, 144.253763 ] }, { "date": "2025-11-28", "close": 146.0, "volume": 1040200, "typical_volume": 6720370.0, "trend": 147.1, "fair_value": 120.990598, "relative_strength": -21.91531, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -30.561741, "energy": 15.986141, "activity_lines": [ 140.0, 138.072727, 141.795238, 144.221505 ] }, { "date": "2025-12-05", "close": 136.0, "volume": 1066400, "typical_volume": 6513010.0, "trend": 147.1, "fair_value": 120.966097, "relative_strength": -27.426858, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -39.752166, "energy": 20.782957, "activity_lines": [ 139.333333, 137.727273, 141.066667, 143.505376 ] }, { "date": "2025-12-12", "close": 123.0, "volume": 1797300, "typical_volume": 6511445.0, "trend": 146.766667, "fair_value": 120.839459, "relative_strength": -34.165149, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -72.093184, "energy": 47.737069, "activity_lines": [ 134.133333, 135.181818, 139.109524, 141.950538 ] }, { "date": "2025-12-19", "close": 115.0, "volume": 1184800, "typical_volume": 6409255.0, "trend": 145.366667, "fair_value": 120.717949, "relative_strength": -36.111038, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -80.022454, "energy": 73.309019, "activity_lines": [ 127.0, 131.454545, 136.461905, 139.901075 ] }, { "date": "2025-12-26", "close": 115.0, "volume": 2237400, "typical_volume": 6403125.0, "trend": 143.5, "fair_value": 120.602564, "relative_strength": -37.008374, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -77.218797, "energy": 82.625514, "activity_lines": [ 121.466667, 128.163636, 133.957143, 137.941935 ] }, { "date": "2026-01-02", "close": 116.0, "volume": 443500, "typical_volume": 6309830.0, "trend": 141.966667, "fair_value": 120.50641, "relative_strength": -35.352292, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -69.913165, "energy": 84.181875, "activity_lines": [ 117.8, 125.309091, 131.67619, 136.167742 ] }, { "date": "2026-01-09", "close": 125.0, "volume": 1360600, "typical_volume": 4521695.0, "trend": 140.466667, "fair_value": 120.461538, "relative_strength": -32.168511, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -65.347463, "energy": 77.257589, "activity_lines": [ 119.133333, 124.490909, 130.4, 135.073118 ] }, { "date": "2026-01-16", "close": 130.0, "volume": 1227800, "typical_volume": 1700785.0, "trend": 139.3, "fair_value": 120.448718, "relative_strength": -31.600333, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -59.80492, "energy": 46.517653, "activity_lines": [ 122.866667, 124.727273, 129.766667, 134.397849 ] }, { "date": "2026-01-23", "close": 129.0, "volume": 1047700, "typical_volume": 1425380.0, "trend": 138.5, "fair_value": 120.410256, "relative_strength": -30.742396, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -43.291545, "energy": 29.187027, "activity_lines": [ 125.8, 124.854545, 129.214286, 133.733333 ] }, { "date": "2026-01-30", "close": 123.0, "volume": 609500, "typical_volume": 1326805.0, "trend": 137.933333, "fair_value": 120.365385, "relative_strength": -32.405761, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -42.870708, "energy": 23.308495, "activity_lines": [ 125.8, 124.072727, 128.204762, 132.733333 ] }, { "date": "2026-02-06", "close": 117.0, "volume": 1078200, "typical_volume": 1260180.0, "trend": 136.733333, "fair_value": 120.275641, "relative_strength": -35.927847, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -55.397662, "energy": 31.619988, "activity_lines": [ 123.266667, 122.472727, 126.761905, 131.382796 ] }, { "date": "2026-02-13", "close": 118.0, "volume": 880700, "typical_volume": 1233365.0, "trend": 136.066667, "fair_value": 120.185897, "relative_strength": -37.474013, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -62.253974, "energy": 40.308186, "activity_lines": [ 121.0, 121.581818, 125.580952, 130.174194 ] }, { "date": "2026-02-20", "close": 117.0, "volume": 3195900, "typical_volume": 1317820.0, "trend": 135.366667, "fair_value": 120.083333, "relative_strength": -36.998797, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -62.261753, "energy": 48.26745, "activity_lines": [ 118.866667, 120.836364, 124.433333, 128.944086 ] }, { "date": "2026-02-27", "close": 113.0, "volume": 2142800, "typical_volume": 1356060.0, "trend": 134.3, "fair_value": 119.923077, "relative_strength": -40.581052, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -68.666035, "energy": 58.615095, "activity_lines": [ 116.266667, 119.472727, 123.004762, 127.501075 ] }, { "date": "2026-03-06", "close": 112.0, "volume": 1963900, "typical_volume": 1381475.0, "trend": 133.3, "fair_value": 119.74359, "relative_strength": -36.875572, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -68.552649, "energy": 61.998724, "activity_lines": [ 114.4, 117.963636, 121.604762, 126.062366 ] }, { "date": "2026-03-13", "close": 112.0, "volume": 1007600, "typical_volume": 1348580.0, "trend": 132.133333, "fair_value": 119.647436, "relative_strength": -33.990833, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -66.450688, "energy": 62.419108, "activity_lines": [ 113.266667, 116.509091, 120.285714, 124.688172 ] }, { "date": "2026-03-20", "close": 109.0, "volume": 695300, "typical_volume": 1300095.0, "trend": 130.433333, "fair_value": 119.538462, "relative_strength": -34.391729, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -71.179751, "energy": 68.337349, "activity_lines": [ 111.466667, 114.581818, 118.804762, 123.195699 ] }, { "date": "2026-03-27", "close": 112.0, "volume": 890900, "typical_volume": 1311120.0, "trend": 128.6, "fair_value": 119.442308, "relative_strength": -31.825274, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -61.766547, "energy": 53.503094, "activity_lines": [ 111.266667, 113.490909, 117.72381, 122.006452 ] }, { "date": "2026-04-03", "close": 110.0, "volume": 763200, "typical_volume": 1300290.0, "trend": 127.166667, "fair_value": 119.339744, "relative_strength": -31.97254, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -62.666249, "energy": 46.708056, "activity_lines": [ 110.733333, 112.363636, 116.557143, 120.806452 ] }, { "date": "2026-04-10", "close": 110.0, "volume": 771300, "typical_volume": 1270250.0, "trend": 125.766667, "fair_value": 119.237179, "relative_strength": -35.739641, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -61.272749, "energy": 45.132404, "activity_lines": [ 110.4, 111.581818, 115.528571, 119.698925 ] }, { "date": "2026-04-17", "close": 111.0, "volume": 556800, "typical_volume": 1246080.0, "trend": 124.4, "fair_value": 119.147436, "relative_strength": -36.086879, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -57.107904, "energy": 40.351566, "activity_lines": [ 110.533333, 111.218182, 114.728571, 118.746237 ] }, { "date": "2026-04-24", "close": 109.0, "volume": 615300, "typical_volume": 1223525.0, "trend": 123.2, "fair_value": 119.038462, "relative_strength": -37.86792, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -60.368701, "energy": 41.279664, "activity_lines": [ 110.066667, 110.6, 113.904762, 117.752688 ] }, { "date": "2026-05-01", "close": 108.0, "volume": 456300, "typical_volume": 1156475.0, "trend": 122.2, "fair_value": 118.923077, "relative_strength": -37.549012, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -61.075939, "energy": 41.387668, "activity_lines": [ 109.266667, 109.963636, 113.114286, 116.772043 ] }, { "date": "2026-05-08", "close": 107.0, "volume": 168200, "typical_volume": 1105645.0, "trend": 121.133333, "fair_value": 118.801282, "relative_strength": -40.529137, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -64.021725, "energy": 43.95892, "activity_lines": [ 108.4, 109.309091, 112.3, 115.791398 ] }, { "date": "2026-05-15", "close": 96.0, "volume": 810100, "typical_volume": 1034280.0, "trend": 120.033333, "fair_value": 118.634615, "relative_strength": -44.784372, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -84.372906, "energy": 72.590444, "activity_lines": [ 104.066667, 106.763636, 110.47619, 114.169892 ] }, { "date": "2026-05-22", "close": 100.0, "volume": 885200, "typical_volume": 1056365.0, "trend": 118.766667, "fair_value": 118.5, "relative_strength": -43.215485, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -71.556756, "energy": 76.105183, "activity_lines": [ 102.0, 105.236364, 109.12381, 112.877419 ] }, { "date": "2026-05-29", "close": 99.0, "volume": 906700, "typical_volume": 1033670.0, "trend": 117.633333, "fair_value": 118.365385, "relative_strength": -45.175829, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -72.264822, "energy": 81.326916, "activity_lines": [ 100.333333, 103.745455, 107.752381, 111.602151 ] }, { "date": "2026-06-05", "close": 96.0, "volume": 193300, "typical_volume": 981945.0, "trend": 116.366667, "fair_value": 118.211538, "relative_strength": -45.955375, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -77.739317, "energy": 87.614222, "activity_lines": [ 98.333333, 101.890909, 106.219048, 110.206452 ] }, { "date": "2026-06-12", "close": 92.0, "volume": 86200, "typical_volume": 933870.0, "trend": 114.8, "fair_value": 118.032051, "relative_strength": -46.567564, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -83.540425, "energy": 91.017171, "activity_lines": [ 95.8, 99.6, 104.466667, 108.634409 ] }, { "date": "2026-06-19", "close": 87.0, "volume": 48000, "typical_volume": 905795.0, "trend": 113.1, "fair_value": 117.807692, "relative_strength": -52.094085, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -88.955579, "energy": 93.663338, "activity_lines": [ 92.6, 96.727273, 102.414286, 106.84086 ] }, { "date": "2026-06-26", "close": 82.0, "volume": 81000, "typical_volume": 855935.0, "trend": 110.966667, "fair_value": 117.557692, "relative_strength": -52.679053, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -91.550938, "energy": 96.012373, "activity_lines": [ 88.333333, 93.363636, 100.057143, 104.834409 ] }, { "date": "2026-07-03", "close": 88.0, "volume": 161900, "typical_volume": 819995.0, "trend": 109.366667, "fair_value": 117.352564, "relative_strength": -48.603474, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -68.147199, "energy": 87.283479, "activity_lines": [ 87.266667, 91.618182, 98.438095, 103.352688 ] }, { "date": "2026-07-10", "close": 90.0, "volume": 179100, "typical_volume": 669155.0, "trend": 108.266667, "fair_value": 117.179487, "relative_strength": -45.434164, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -66.586269, "energy": 82.769805, "activity_lines": [ 87.6, 90.618182, 97.152381, 102.103226 ] }, { "date": "2026-07-17", "close": 83.0, "volume": 296000, "typical_volume": 576815.0, "trend": 107.2, "fair_value": 116.961538, "relative_strength": -45.262959, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -78.680792, "energy": 75.192258, "activity_lines": [ 86.0, 88.672727, 95.328571, 100.473118 ] }, { "date": "2026-07-24", "close": 85.0, "volume": 647700, "typical_volume": 511005.0, "trend": 106.2, "fair_value": 116.762821, "relative_strength": -43.425261, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -67.932673, "energy": 64.28256, "activity_lines": [ 85.666667, 87.527273, 93.838095, 99.04086 ] }, { "date": "2026-07-31", "close": 83.0, "volume": 588300, "typical_volume": 490040.0, "trend": 105.1, "fair_value": 116.564103, "relative_strength": -43.484257, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -72.841604, "energy": 65.808445, "activity_lines": [ 84.8, 86.218182, 92.285714, 97.544086 ] }, { "date": "2026-08-07", "close": 85.0, "volume": 682500, "typical_volume": 489400.0, "trend": 103.766667, "fair_value": 116.378205, "relative_strength": -42.197532, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -63.20874, "energy": 61.23942, "activity_lines": [ 84.533333, 85.581818, 91.061905, 96.247312 ] }, { "date": "2026-08-14", "close": 87.0, "volume": 915400, "typical_volume": 490625.0, "trend": 102.333333, "fair_value": 116.275641, "relative_strength": -42.46485, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -61.94966, "energy": 57.43886, "activity_lines": [ 85.133333, 85.563636, 90.142857, 95.165591 ] }, { "date": "2026-08-21", "close": 90.0, "volume": 1597600, "typical_volume": 532345.0, "trend": 101.033333, "fair_value": 116.141026, "relative_strength": -36.727622, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -49.709843, "energy": 45.159274, "activity_lines": [ 86.933333, 86.254545, 89.628571, 94.369892 ] } ], "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." } } }