{ "ticker": { "uuid": "94606286-10cb-4c4a-8b1b-77ff79d8dee5", "symbol": "BELT", "name": "BlackRock Long-Term U.S. Equity ETF", "exchange": "NASDAQ", "country": "US", "assetType": "etf" }, "methodBoundary": "Trend Architecture is a weekly structural classification, not a forecast, probability of return, recommendation or execution signal. Confidence measures geometric agreement and external confirmation only.", "analysis": { "eligible": true, "as_of": "2026-08-07", "benchmark": "QQQ", "stage": 2, "stage_name": "Advancing", "phase": "2b", "phase_label": "Stage 2B \u00b7 Advancing", "transition": "stage_2_healthy", "transition_label": "Stage 2 trend intact", "confidence": 92.427, "architecture_regime": "deceleration", "architecture_regime_label": "Deceleration", "architecture_modifier": "Recompressing", "architecture_gate": "up", "architecture_direction": 55.153, "architecture_energy": 29.352, "architecture_maturity": 61.708, "architecture_confidence": 83.518, "architecture_tenure": "New", "architecture": { "interpretation": { "headline": "The upward structure remains, but its energy is decelerating.", "body": "Trend remains positive, but Activity or price acceptance is losing strength. This can become a healthy recompression, a re-acceleration, or a Rotation Down." }, "scores": { "balance": 36.59, "rotation_up": 36.2, "upward_expansion": 60.51, "deceleration": 85.24, "rotation_down": 27.05, "downward_expansion": 19.51 }, "activity_lines": [ 38.95608, 38.990347, 38.828252, 37.865375 ], "activity_state": "Moderate", "activity_direction": "Contracting", "rotation_direction": "Weakening", "price_acceptance": 0.5 }, "latest_close": 39.9069, "trend_reference": 36.65306, "distance_from_trend": 0.088774, "trend_direction": "Improving", "fair_value": 32.513357, "distance_from_fair_value": 0.2274, "fair_value_direction": "Weakening", "relative_strength": -0.83175, "relative_strength_direction": "Weakening", "price_momentum": 0.184487, "excess_performance": -0.002967, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.088774, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.048555, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.2274, "read": "Premium" }, { "label": "Fair Value direction", "positive": false, "value": -0.035484, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.008318, "read": "Lagging" }, { "label": "Relative strength direction", "positive": false, "value": -0.000687, "read": "Weakening" }, { "label": "Price momentum", "positive": true, "value": 0.184487, "read": "Positive" }, { "label": "Volume balance", "positive": true, "value": 1.277717, "read": "Demand-led" } ], "volume": { "latest": 16258, "relative_activity": 1.666556, "balance": 1.277717, "dry_up": 0.639258, "accumulation_observations": 3, "distribution_observations": 3 }, "risk": { "range_context": 0.034065, "annualized_volatility": 0.219461, "from_high_reference": -0.008724, "from_low_reference": 0.285524 }, "levels": { "trend_reference": 36.65306, "fair_value_reference": 32.513357, "structural_low": 31.043303, "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis." }, "outcomes": [ { "horizon": "Near term", "sample_count": 0, "median_return": null, "positive_rate": null, "directional_follow_through": null, "median_excess_return": null, "regime_survival": null, "best_return": null, "worst_return": null, "sufficient": false }, { "horizon": "Intermediate", "sample_count": 0, "median_return": null, "positive_rate": null, "directional_follow_through": null, "median_excess_return": null, "regime_survival": null, "best_return": null, "worst_return": null, "sufficient": false }, { "horizon": "Extended", "sample_count": 0, "median_return": null, "positive_rate": null, "directional_follow_through": null, "median_excess_return": null, "regime_survival": null, "best_return": null, "worst_return": null, "sufficient": false }, { "horizon": "Full cycle", "sample_count": 0, "median_return": null, "positive_rate": null, "directional_follow_through": null, "median_excess_return": null, "regime_survival": null, "best_return": null, "worst_return": null, "sufficient": false } ], "ledger": [ { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-12-26", "end": "2026-01-09", "tenure": "New", "return": 0.030024, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-01-16", "end": "2026-03-06", "tenure": "Developing", "return": -0.033618, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-03-13", "end": "2026-03-20", "tenure": "New", "return": -0.019064, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2026-03-27", "end": "2026-04-10", "tenure": "New", "return": 0.117699, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2026-04-17", "end": "2026-04-24", "tenure": "New", "return": 0.015065, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-05-01", "end": "2026-07-17", "tenure": "Developing", "return": -0.00236, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2026-07-24", "end": "2026-08-07", "tenure": "New", "return": 0.047664, "active": true } ], "chart_path": [ { "date": "2024-06-21", "close": 30.211064, "volume": 10721, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-06-28", "close": 30.119181, "volume": 69111, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-07-05", "close": 30.504507, "volume": 29964, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-07-12", "close": 30.210064, "volume": 10488, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-07-19", "close": 28.862424, "volume": 25051, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-07-26", "close": 28.51949, "volume": 27533, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-08-02", "close": 27.90131, "volume": 16292, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-08-09", "close": 28.569081, "volume": 10973, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-08-16", "close": 29.344331, "volume": 10999, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-08-23", "close": 29.55539, "volume": 2708, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-08-30", "close": 29.66017, "volume": 222842, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-09-06", "close": 28.123067, "volume": 7009, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-09-13", "close": 29.499001, "volume": 2212, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-09-20", "close": 29.97011, "volume": 8091, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-09-27", "close": 30.134178, "volume": 12045, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-10-04", "close": 30.012802, "volume": 2871, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-10-11", "close": 30.314144, "volume": 5235, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-10-18", "close": 30.154175, "volume": 2912, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-10-25", "close": 29.774248, "volume": 4098, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-01", "close": 29.604281, "volume": 5419, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-08", "close": 30.804049, "volume": 5969, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-15", "close": 29.943615, "volume": 1707, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-22", "close": 30.484111, "volume": 1319, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-29", "close": 30.774055, "volume": 2096, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-12-06", "close": 31.498015, "volume": 2574, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-12-13", "close": 31.443925, "volume": 10031, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-12-20", "close": 30.214163, "volume": 5380, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-12-27", "close": 30.421023, "volume": 7301, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-03", "close": 30.313844, "volume": 3235, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-10", "close": 29.964211, "volume": 6123, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-17", "close": 30.864037, "volume": 5556, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-24", "close": 31.793858, "volume": 8940, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-31", "close": 31.442326, "volume": 2477, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-02-07", "close": 31.323949, "volume": 3220, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-02-14", "close": 31.193974, "volume": 6023, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-02-21", "close": 30.300646, "volume": 8735, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-02-28", "close": 30.0242, "volume": 11498, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-03-07", "close": 28.924212, "volume": 13210, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-03-14", "close": 28.403513, "volume": 5270, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-03-21", "close": 28.484497, "volume": 7545, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-03-28", "close": 27.664656, "volume": 5809, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-04-04", "close": 24.715225, "volume": 245771, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-04-11", "close": 26.674647, "volume": 45562, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-04-18", "close": 25.953386, "volume": 4756, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-04-25", "close": 27.832423, "volume": 5986, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-02", "close": 29.524296, "volume": 8881, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-09", "close": 29.384323, "volume": 6384, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-16", "close": 30.874036, "volume": 9319, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-23", "close": 30.208264, "volume": 1230, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-30", "close": 30.803449, "volume": 987, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-06-06", "close": 31.633889, "volume": 1630, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-06-13", "close": 31.054001, "volume": 2957, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-06-20", "close": 30.884034, "volume": 12250, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-06-27", "close": 32.468627, "volume": 3777, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-07-04", "close": 32.704282, "volume": 2877, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-07-11", "close": 32.473727, "volume": 1965, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-07-18", "close": 32.605501, "volume": 1993, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-07-25", "close": 33.154695, "volume": 5907, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-01", "close": 32.458729, "volume": 14698, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-08", "close": 32.641194, "volume": 1113, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-15", "close": 32.789066, "volume": 1917, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-22", "close": 32.563809, "volume": 3786, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-29", "close": 32.375046, "volume": 397, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-09-05", "close": 32.551312, "volume": 730, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-09-12", "close": 32.997925, "volume": 7901, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-09-19", "close": 33.526523, "volume": 301, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-09-26", "close": 32.887447, "volume": 8323, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-10-03", "close": 33.353856, "volume": 9001, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-10-10", "close": 32.692084, "volume": 1697, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-10-17", "close": 33.227181, "volume": 6994, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-10-24", "close": 34.496436, "volume": 2694, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-10-31", "close": 34.52373, "volume": 11572, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-11-07", "close": 33.827565, "volume": 8486, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-11-14", "close": 33.504827, "volume": 5220, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-11-21", "close": 32.564009, "volume": 3887, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-11-28", "close": 34.360362, "volume": 3565, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-12-05", "close": 34.260881, "volume": 1829, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-12-12", "close": 33.513926, "volume": 1592, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-12-19", "close": 33.497929, "volume": 1424, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-12-26", "close": 34.036325, "volume": 3276, "typical_volume": 4229.6, "trend": 32.987631, "fair_value": 30.911536, "relative_strength": -5.626895, "stage": 2, "regime": "balance", "modifier": "Neutral compression", "gate": "up", "direction": 52.74183, "energy": 29.424171, "activity_lines": [ 33.839816, 33.778369, 33.612427, 33.37798 ] }, { "date": "2026-01-02", "close": 33.923147, "volume": 5050, "typical_volume": 4386.25, "trend": 33.063939, "fair_value": 30.948716, "relative_strength": -4.179456, "stage": 2, "regime": "balance", "modifier": "Neutral compression", "gate": "up", "direction": 50.422403, "energy": 25.070705, "activity_lines": [ 33.836237, 33.790105, 33.664392, 33.438336 ] }, { "date": "2026-01-09", "close": 35.058227, "volume": 4263, "typical_volume": 4410.1, "trend": 33.197413, "fair_value": 30.998832, "relative_strength": -3.000559, "stage": 2, "regime": "balance", "modifier": "Neutral compression", "gate": "up", "direction": 72.812089, "energy": 50.153522, "activity_lines": [ 34.240165, 34.018643, 33.81906, 33.567 ] }, { "date": "2026-01-16", "close": 34.819473, "volume": 754, "typical_volume": 4427.95, "trend": 33.328595, "fair_value": 31.044864, "relative_strength": -2.714833, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 65.726562, "energy": 61.559043, "activity_lines": [ 34.511353, 34.194052, 33.939111, 33.671649 ] }, { "date": "2026-01-23", "close": 34.586918, "volume": 2487, "typical_volume": 4515.8, "trend": 33.399204, "fair_value": 31.087031, "relative_strength": -3.436768, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 58.570953, "energy": 60.741129, "activity_lines": [ 34.617985, 34.309145, 34.025373, 33.752831 ] }, { "date": "2026-01-30", "close": 34.42095, "volume": 2142, "typical_volume": 4227.85, "trend": 33.456427, "fair_value": 31.126254, "relative_strength": -3.602732, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 58.384685, "energy": 59.770217, "activity_lines": [ 34.596696, 34.374387, 34.086136, 33.81875 ] }, { "date": "2026-02-06", "close": 33.691291, "volume": 8355, "typical_volume": 4630.55, "trend": 33.497012, "fair_value": 31.15608, "relative_strength": -3.595447, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 44.497638, "energy": 27.19054, "activity_lines": [ 34.306545, 34.273201, 34.070632, 33.833903 ] }, { "date": "2026-02-13", "close": 33.520624, "volume": 3687, "typical_volume": 4398.75, "trend": 33.527516, "fair_value": 31.183259, "relative_strength": -2.768304, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 19.836571, "energy": 12.839036, "activity_lines": [ 33.974963, 34.153149, 34.038089, 33.835426 ] }, { "date": "2026-02-20", "close": 34.466841, "volume": 705, "typical_volume": 3983.95, "trend": 33.571254, "fair_value": 31.220572, "relative_strength": -1.112858, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 35.097802, "energy": 19.444614, "activity_lines": [ 34.061293, 34.218596, 34.092646, 33.896028 ] }, { "date": "2026-02-27", "close": 34.468241, "volume": 2629, "typical_volume": 4030.55, "trend": 33.638238, "fair_value": 31.257063, "relative_strength": -0.773939, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 35.35739, "energy": 19.127987, "activity_lines": [ 34.171598, 34.266973, 34.142037, 33.953898 ] }, { "date": "2026-03-06", "close": 33.648899, "volume": 2357, "typical_volume": 3798.7, "trend": 33.671828, "fair_value": 31.283639, "relative_strength": -1.815659, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 16.930601, "energy": 10.391876, "activity_lines": [ 34.016701, 34.148735, 34.104937, 33.954585 ] }, { "date": "2026-03-13", "close": 33.113403, "volume": 2476, "typical_volume": 3787.8, "trend": 33.68264, "fair_value": 31.303746, "relative_strength": -2.273857, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": -4.875214, "energy": 8.05884, "activity_lines": [ 33.734776, 33.940179, 34.01483, 33.918558 ] }, { "date": "2026-03-20", "close": 32.482125, "volume": 2470, "typical_volume": 3332.7, "trend": 33.679917, "fair_value": 31.316554, "relative_strength": -2.093485, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -33.768373, "energy": 39.951194, "activity_lines": [ 33.28095, 33.631568, 33.871187, 33.841105 ] }, { "date": "2026-03-27", "close": 31.387636, "volume": 7040, "typical_volume": 3260.4, "trend": 33.647003, "fair_value": 31.317319, "relative_strength": -2.123458, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -53.239302, "energy": 66.360473, "activity_lines": [ 32.531529, 33.170797, 33.633029, 33.693216 ] }, { "date": "2026-04-03", "close": 32.723878, "volume": 3314, "typical_volume": 3165.1, "trend": 33.652755, "fair_value": 31.332282, "relative_strength": -1.770795, "stage": 3, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -59.606559, "energy": 67.97609, "activity_lines": [ 32.432801, 33.015376, 33.53375, 33.63366 ] }, { "date": "2026-04-10", "close": 35.081923, "volume": 19399, "typical_volume": 3940.7, "trend": 33.722222, "fair_value": 31.371752, "relative_strength": 0.864942, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -2.014762, "energy": 17.124952, "activity_lines": [ 33.236379, 33.322564, 33.662766, 33.725864 ] }, { "date": "2026-04-17", "close": 37.304093, "volume": 14932, "typical_volume": 4509.05, "trend": 33.848141, "fair_value": 31.433547, "relative_strength": 1.05092, "stage": 3, "regime": "rotation_up", "modifier": "Structural repair", "gate": "up", "direction": 72.298307, "energy": 40.845459, "activity_lines": [ 34.685146, 34.021766, 33.991427, 33.956953 ] }, { "date": "2026-04-24", "close": 37.866085, "volume": 9703, "typical_volume": 4902.75, "trend": 34.014096, "fair_value": 31.499862, "relative_strength": 0.432152, "stage": 2, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "up", "direction": 82.948885, "energy": 72.042625, "activity_lines": [ 36.041864, 34.75746, 34.359594, 34.216175 ] }, { "date": "2026-05-01", "close": 38.387484, "volume": 8932, "typical_volume": 5269.75, "trend": 34.181883, "fair_value": 31.570144, "relative_strength": 0.389069, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 82.15175, "energy": 89.014605, "activity_lines": [ 37.213451, 35.508946, 34.76025, 34.498329 ] }, { "date": "2026-05-08", "close": 39.976677, "volume": 17172, "typical_volume": 6057.15, "trend": 34.424703, "fair_value": 31.655058, "relative_strength": -0.763018, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 89.37113, "energy": 95.878095, "activity_lines": [ 38.448112, 36.478091, 35.28905, 34.872187 ] }, { "date": "2026-05-15", "close": 39.311006, "volume": 16301, "typical_volume": 6708.4, "trend": 34.627497, "fair_value": 31.731618, "relative_strength": -1.966764, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 75.158061, "energy": 90.740739, "activity_lines": [ 38.977364, 37.226052, 35.723602, 35.187432 ] }, { "date": "2026-05-22", "close": 39.156236, "volume": 10347, "typical_volume": 6973.25, "trend": 34.782824, "fair_value": 31.805129, "relative_strength": -3.361157, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 68.016342, "energy": 87.685966, "activity_lines": [ 39.173086, 37.842926, 36.118296, 35.479609 ] }, { "date": "2026-05-29", "close": 39.712028, "volume": 7174, "typical_volume": 7118.8, "trend": 34.955767, "fair_value": 31.882648, "relative_strength": -4.559099, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 72.708746, "energy": 87.00461, "activity_lines": [ 39.430596, 38.450983, 36.541004, 35.797622 ] }, { "date": "2026-06-05", "close": 37.961966, "volume": 8054, "typical_volume": 7483.8, "trend": 35.09358, "fair_value": 31.94167, "relative_strength": -4.264083, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 64.513297, "energy": 60.528659, "activity_lines": [ 38.981689, 38.609394, 36.774877, 35.99157 ] }, { "date": "2026-06-12", "close": 38.742316, "volume": 14761, "typical_volume": 8097.5, "trend": 35.268163, "fair_value": 32.007061, "relative_strength": -4.323261, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 61.219087, "energy": 53.290548, "activity_lines": [ 38.821267, 38.790154, 37.068106, 36.226973 ] }, { "date": "2026-06-19", "close": 40.2581, "volume": 11171, "typical_volume": 8548.95, "trend": 35.524633, "fair_value": 32.085642, "relative_strength": -3.019161, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 76.700731, "energy": 59.836228, "activity_lines": [ 39.248397, 39.137084, 37.485908, 36.548904 ] }, { "date": "2026-06-26", "close": 38.611, "volume": 11059, "typical_volume": 8684.15, "trend": 35.666321, "fair_value": 32.147202, "relative_strength": -2.444337, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 48.256953, "energy": 42.830179, "activity_lines": [ 39.063354, 39.09043, 37.719046, 36.748024 ] }, { "date": "2026-07-03", "close": 39.2368, "volume": 5715, "typical_volume": 8785.55, "trend": 35.832185, "fair_value": 32.21346, "relative_strength": -1.575469, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 52.028922, "energy": 45.36351, "activity_lines": [ 39.12326, 39.133795, 37.988358, 36.978378 ] }, { "date": "2026-07-10", "close": 39.8346, "volume": 5090, "typical_volume": 9004.8, "trend": 36.042874, "fair_value": 32.284026, "relative_strength": -1.722031, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 68.180266, "energy": 54.662828, "activity_lines": [ 39.414114, 39.26093, 38.287383, 37.236598 ] }, { "date": "2026-07-17", "close": 38.2969, "volume": 1738, "typical_volume": 8960.25, "trend": 36.20284, "fair_value": 32.33919, "relative_strength": -1.30505, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 46.955984, "energy": 37.196261, "activity_lines": [ 39.06756, 39.082171, 38.4144, 37.382019 ] }, { "date": "2026-07-24", "close": 38.0913, "volume": 2822, "typical_volume": 8983.5, "trend": 36.338006, "fair_value": 32.391482, "relative_strength": -0.136264, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 43.013719, "energy": 30.384835, "activity_lines": [ 38.682167, 38.896572, 38.503604, 37.503855 ] }, { "date": "2026-07-31", "close": 38.5261, "volume": 4127, "typical_volume": 9066.05, "trend": 36.491437, "fair_value": 32.446749, "relative_strength": 0.549473, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 37.954176, "energy": 23.559635, "activity_lines": [ 38.58616, 38.812204, 38.613063, 37.645023 ] }, { "date": "2026-08-07", "close": 39.9069, "volume": 16258, "typical_volume": 9755.45, "trend": 36.65306, "fair_value": 32.513357, "relative_strength": -0.83175, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 55.153421, "energy": 29.352496, "activity_lines": [ 38.95608, 38.990347, 38.828252, 37.865375 ] } ], "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." } } }