{ "ticker": { "uuid": "95956263-4d7c-4d41-bc8f-c2e723f17350", "symbol": "XSPS", "name": "Xtrackers S&P 500 Inverse Daily Swap UCITS ETF 1C", "exchange": "MIL", "country": "IT", "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": "FTSEMIB.MI", "stage": 4, "stage_name": "Declining", "phase": "4b", "phase_label": "Stage 4B \u00b7 Declining", "transition": "stage_4_declining", "transition_label": "Stage 4 decline intact", "confidence": 88.557, "architecture_regime": "downward_expansion", "architecture_regime_label": "Downward Expansion", "architecture_modifier": "Established contraction", "architecture_gate": "down", "architecture_direction": -74.297, "architecture_energy": 41.773, "architecture_maturity": 51.821, "architecture_confidence": 78.508, "architecture_tenure": "Established", "architecture": { "interpretation": { "headline": "The weekly architecture is expanding downward.", "body": "Trend and Activity show sustained negative alignment with weak price acceptance. Repair requires persistent improvement across the structure, not merely one strong observation." }, "scores": { "balance": 41.11, "rotation_up": 25.59, "upward_expansion": 9.19, "deceleration": 56.77, "rotation_down": 43.94, "downward_expansion": 68.86 }, "activity_lines": [ 4.893, 4.914409, 4.918567, 4.990099 ], "activity_state": "Moderate", "activity_direction": "Contracting", "rotation_direction": "Improving", "price_acceptance": -0.333333 }, "latest_close": 4.74, "trend_reference": 5.0588, "distance_from_trend": -0.063019, "trend_direction": "Weakening", "fair_value": 6.087423, "distance_from_fair_value": -0.221345, "fair_value_direction": "Improving", "relative_strength": -21.145632, "relative_strength_direction": "Weakening", "price_momentum": -0.070224, "excess_performance": -0.241115, "evidence": [ { "label": "Price vs Trend", "positive": false, "value": -0.063019, "read": "Below" }, { "label": "Trend direction", "positive": false, "value": -0.017263, "read": "Falling" }, { "label": "Price vs current Fair Value", "positive": false, "value": -0.221345, "read": "Below anchor" }, { "label": "Fair Value direction", "positive": true, "value": 0.011324, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.211456, "read": "Lagging" }, { "label": "Relative strength direction", "positive": false, "value": -0.005108, "read": "Weakening" }, { "label": "Price momentum", "positive": false, "value": -0.070224, "read": "Negative" }, { "label": "Volume balance", "positive": false, "value": 0.562429, "read": "Supply-led" } ], "volume": { "latest": 340657, "relative_activity": 0.519409, "balance": 0.562429, "dry_up": 0.471176, "accumulation_observations": 0, "distribution_observations": 3 }, "risk": { "range_context": 0.023832, "annualized_volatility": 0.170554, "from_high_reference": -0.170604, "from_low_reference": 0.004237 }, "levels": { "trend_reference": 5.0588, "fair_value_reference": 6.087423, "structural_low": 4.72, "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": 41, "median_return": -0.000966, "positive_rate": 0.487805, "directional_follow_through": 0.512195, "median_excess_return": -0.021707, "regime_survival": 0.853659, "best_return": 0.073759, "worst_return": -0.07263, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 13, "median_return": -0.017515, "positive_rate": 0.307692, "directional_follow_through": 0.692308, "median_excess_return": -0.046549, "regime_survival": 0.615385, "best_return": 0.151933, "worst_return": -0.089398, "sufficient": true }, { "horizon": "Extended", "sample_count": 8, "median_return": -0.048999, "positive_rate": 0.25, "directional_follow_through": 0.75, "median_excess_return": -0.157332, "regime_survival": 0.625, "best_return": 0.287408, "worst_return": -0.130484, "sufficient": true }, { "horizon": "Full cycle", "sample_count": 4, "median_return": -0.115799, "positive_rate": 0.25, "directional_follow_through": 0.75, "median_excess_return": -0.299067, "regime_survival": 0.25, "best_return": 0.237807, "worst_return": -0.145669, "sufficient": false } ], "ledger": [ { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2024-01-26", "end": "2024-05-03", "tenure": "Established", "return": -0.010892, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2024-05-10", "end": "2024-05-24", "tenure": "New", "return": -0.022731, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2024-05-31", "end": "2024-12-13", "tenure": "Extended", "return": -0.07316, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2024-12-20", "end": "2025-01-03", "tenure": "New", "return": 0.019382, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2025-01-10", "end": "2025-01-24", "tenure": "New", "return": -0.071547, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-01-31", "end": "2025-03-14", "tenure": "Developing", "return": 0.046016, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-03-21", "end": "2025-04-25", "tenure": "Developing", "return": -0.031245, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-05-02", "end": "2025-05-16", "tenure": "New", "return": -0.025699, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2025-05-23", "end": "2025-06-06", "tenure": "New", "return": -0.035685, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-06-13", "end": "2026-02-27", "tenure": "Extended", "return": -0.103762, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-03-06", "end": "2026-03-13", "tenure": "New", "return": 0.036309, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2026-03-20", "end": "2026-03-27", "tenure": "New", "return": 0.026316, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-04-03", "end": "2026-05-01", "tenure": "Developing", "return": -0.092431, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2026-05-08", "end": "2026-08-07", "tenure": "Established", "return": -0.017515, "active": true } ], "chart_path": [ { "date": "2023-08-18", "close": 7.469, "volume": 378260, "typical_volume": 310599.35, "trend": 7.594933, "fair_value": 7.745301, "relative_strength": -15.358683, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -38.16452, "energy": 28.424898, "activity_lines": [ 7.2282, 7.1696, 7.294876, 7.430809 ] }, { "date": "2023-08-25", "close": 7.496, "volume": 202801, "typical_volume": 303825.75, "trend": 7.5866, "fair_value": 7.736321, "relative_strength": -15.819729, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -20.919874, "energy": 24.042573, "activity_lines": [ 7.346267, 7.228127, 7.303005, 7.424426 ] }, { "date": "2023-09-01", "close": 7.294, "volume": 89951, "typical_volume": 293361.2, "trend": 7.578067, "fair_value": 7.723705, "relative_strength": -18.696175, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -23.403624, "energy": 26.640314, "activity_lines": [ 7.361067, 7.244982, 7.29301, 7.405548 ] }, { "date": "2023-09-08", "close": 7.432, "volume": 201528, "typical_volume": 289091.5, "trend": 7.563833, "fair_value": 7.711885, "relative_strength": -15.330057, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -13.541248, "energy": 22.200249, "activity_lines": [ 7.400333, 7.2888, 7.297662, 7.396125 ] }, { "date": "2023-09-15", "close": 7.473, "volume": 88325, "typical_volume": 274513.15, "trend": 7.5487, "fair_value": 7.700205, "relative_strength": -16.233391, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": 0.569665, "energy": 16.52011, "activity_lines": [ 7.429067, 7.336327, 7.30721, 7.390265 ] }, { "date": "2023-09-22", "close": 7.688, "volume": 273594, "typical_volume": 266822.65, "trend": 7.531533, "fair_value": 7.687321, "relative_strength": -11.865414, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": 18.521215, "energy": 25.275898, "activity_lines": [ 7.514133, 7.419091, 7.33761, 7.399252 ] }, { "date": "2023-09-29", "close": 7.832, "volume": 391713, "typical_volume": 265376.05, "trend": 7.524, "fair_value": 7.677641, "relative_strength": -8.102102, "stage": 4, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 44.195013, "energy": 57.05686, "activity_lines": [ 7.6326, 7.514145, 7.381448, 7.418637 ] }, { "date": "2023-10-06", "close": 7.914, "volume": 281613, "typical_volume": 270413.05, "trend": 7.514333, "fair_value": 7.670974, "relative_strength": -4.672957, "stage": 1, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 43.286575, "energy": 66.412227, "activity_lines": [ 7.756, 7.6082, 7.432762, 7.443798 ] }, { "date": "2023-10-13", "close": 7.876, "volume": 541302, "typical_volume": 287603.1, "trend": 7.503333, "fair_value": 7.664103, "relative_strength": -5.465356, "stage": 1, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 45.554921, "energy": 70.866452, "activity_lines": [ 7.8254, 7.6782, 7.479271, 7.467131 ] }, { "date": "2023-10-20", "close": 8.014, "volume": 264075, "typical_volume": 290153.75, "trend": 7.499867, "fair_value": 7.657994, "relative_strength": 0.219521, "stage": 1, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "up", "direction": 77.557121, "energy": 83.255207, "activity_lines": [ 7.9112, 7.758618, 7.538357, 7.500077 ] }, { "date": "2023-10-27", "close": 8.177, "volume": 790697, "typical_volume": 299338.85, "trend": 7.513633, "fair_value": 7.648878, "relative_strength": 3.151881, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 82.44382, "energy": 86.34787, "activity_lines": [ 8.015267, 7.854655, 7.610924, 7.543763 ] }, { "date": "2023-11-03", "close": 7.676, "volume": 553831, "typical_volume": 318090.6, "trend": 7.511833, "fair_value": 7.641904, "relative_strength": -7.078088, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 63.0006, "energy": 50.606225, "activity_lines": [ 7.919733, 7.846727, 7.632748, 7.554239 ] }, { "date": "2023-11-10", "close": 7.719, "volume": 118320, "typical_volume": 307130.4, "trend": 7.515467, "fair_value": 7.635814, "relative_strength": -5.563604, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 58.650926, "energy": 42.181878, "activity_lines": [ 7.848933, 7.843345, 7.656514, 7.567604 ] }, { "date": "2023-11-17", "close": 7.361, "volume": 533040, "typical_volume": 325833.5, "trend": 7.506167, "fair_value": 7.627878, "relative_strength": -12.475842, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 20.081851, "energy": 15.745061, "activity_lines": [ 7.6718, 7.767145, 7.644652, 7.557639 ] }, { "date": "2023-11-24", "close": 7.255, "volume": 263235, "typical_volume": 316907.65, "trend": 7.496267, "fair_value": 7.620686, "relative_strength": -13.064594, "stage": 4, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -17.746254, "energy": 28.946364, "activity_lines": [ 7.493667, 7.672964, 7.622052, 7.541434 ] }, { "date": "2023-12-01", "close": 7.271, "volume": 125039, "typical_volume": 312925.15, "trend": 7.4843, "fair_value": 7.61516, "relative_strength": -13.841206, "stage": 4, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -27.502008, "energy": 37.501954, "activity_lines": [ 7.371467, 7.585655, 7.601005, 7.526901 ] }, { "date": "2023-12-08", "close": 7.349, "volume": 330426, "typical_volume": 318034.4, "trend": 7.470533, "fair_value": 7.609391, "relative_strength": -13.735773, "stage": 4, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -22.228765, "energy": 37.903985, "activity_lines": [ 7.335667, 7.520109, 7.585733, 7.518172 ] }, { "date": "2023-12-15", "close": 7.04, "volume": 186413, "typical_volume": 314539.6, "trend": 7.4497, "fair_value": 7.602923, "relative_strength": -16.592127, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -40.952608, "energy": 60.717656, "activity_lines": [ 7.218667, 7.407164, 7.539167, 7.490396 ] }, { "date": "2023-12-22", "close": 6.931, "volume": 115447, "typical_volume": 292523.85, "trend": 7.422167, "fair_value": 7.595699, "relative_strength": -17.126194, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -44.715738, "energy": 68.325506, "activity_lines": [ 7.1106, 7.290291, 7.48189, 7.456931 ] }, { "date": "2023-12-29", "close": 6.927, "volume": 39812, "typical_volume": 288471.1, "trend": 7.400233, "fair_value": 7.589276, "relative_strength": -16.448227, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -49.191425, "energy": 71.747732, "activity_lines": [ 7.029867, 7.189873, 7.42489, 7.424985 ] }, { "date": "2024-01-05", "close": 7.071, "volume": 167745, "typical_volume": 277945.35, "trend": 7.384567, "fair_value": 7.584667, "relative_strength": -14.372918, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -37.923542, "energy": 66.735325, "activity_lines": [ 7.019, 7.1354, 7.38311, 7.403744 ] }, { "date": "2024-01-12", "close": 6.965, "volume": 73553, "typical_volume": 271482.95, "trend": 7.375933, "fair_value": 7.578282, "relative_strength": -15.2651, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -39.791399, "energy": 65.439823, "activity_lines": [ 6.986133, 7.081764, 7.333129, 7.376675 ] }, { "date": "2024-01-19", "close": 7.002, "volume": 79778, "typical_volume": 270974.3, "trend": 7.362767, "fair_value": 7.573321, "relative_strength": -13.802313, "stage": 4, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -63.189685, "energy": 61.211637, "activity_lines": [ 6.9912, 7.047782, 7.2892, 7.352551 ] }, { "date": "2024-01-26", "close": 6.886, "volume": 126749, "typical_volume": 267235.35, "trend": 7.351433, "fair_value": 7.566167, "relative_strength": -15.091573, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -70.820573, "energy": 58.851595, "activity_lines": [ 6.960133, 7.005745, 7.235614, 7.321791 ] }, { "date": "2024-02-02", "close": 6.884, "volume": 22960, "typical_volume": 263967.1, "trend": 7.338867, "fair_value": 7.560519, "relative_strength": -15.71277, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -69.908318, "energy": 72.659517, "activity_lines": [ 6.9314, 6.971982, 7.184438, 7.291634 ] }, { "date": "2024-02-09", "close": 6.809, "volume": 62874, "typical_volume": 253431.1, "trend": 7.335033, "fair_value": 7.555276, "relative_strength": -17.386802, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -72.854328, "energy": 74.097252, "activity_lines": [ 6.880533, 6.931327, 7.128924, 7.257449 ] }, { "date": "2024-02-16", "close": 6.798, "volume": 211420, "typical_volume": 244416.45, "trend": 7.329733, "fair_value": 7.550147, "relative_strength": -18.594819, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -72.599138, "energy": 83.218724, "activity_lines": [ 6.843467, 6.897073, 7.076548, 7.222802 ] }, { "date": "2024-02-23", "close": 6.697, "volume": 339788, "typical_volume": 247325.2, "trend": 7.3206, "fair_value": 7.542885, "relative_strength": -21.61255, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -77.592976, "energy": 84.487987, "activity_lines": [ 6.783867, 6.854473, 7.019476, 7.181981 ] }, { "date": "2024-03-01", "close": 6.672, "volume": 194756, "typical_volume": 229997.9, "trend": 7.307367, "fair_value": 7.533545, "relative_strength": -21.957851, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -76.503375, "energy": 80.659724, "activity_lines": [ 6.736267, 6.813564, 6.965819, 7.140135 ] }, { "date": "2024-03-08", "close": 6.562, "volume": 238579, "typical_volume": 228723.1, "trend": 7.284667, "fair_value": 7.526231, "relative_strength": -23.735383, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -81.251765, "energy": 82.946518, "activity_lines": [ 6.666267, 6.757364, 6.907419, 7.092047 ] }, { "date": "2024-03-15", "close": 6.659, "volume": 150642, "typical_volume": 196720.35, "trend": 7.257667, "fair_value": 7.519346, "relative_strength": -23.108842, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -67.006617, "energy": 75.920846, "activity_lines": [ 6.650067, 6.725436, 6.865171, 7.051682 ] }, { "date": "2024-03-22", "close": 6.564, "volume": 88701, "typical_volume": 173463.85, "trend": 7.2266, "fair_value": 7.511583, "relative_strength": -24.399953, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -73.697234, "energy": 73.45109, "activity_lines": [ 6.6122, 6.683727, 6.821105, 7.006929 ] }, { "date": "2024-03-29", "close": 6.554, "volume": 259234, "typical_volume": 180509.55, "trend": 7.201933, "fair_value": 7.504538, "relative_strength": -24.83822, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -71.351457, "energy": 67.139348, "activity_lines": [ 6.5866, 6.647491, 6.781381, 6.963535 ] }, { "date": "2024-04-05", "close": 6.622, "volume": 452189, "typical_volume": 176467.0, "trend": 7.174933, "fair_value": 7.49959, "relative_strength": -21.873374, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -63.978803, "energy": 60.732549, "activity_lines": [ 6.5932, 6.631764, 6.753681, 6.92612 ] }, { "date": "2024-04-12", "close": 6.81, "volume": 902008, "typical_volume": 208405.65, "trend": 7.152833, "fair_value": 7.497071, "relative_strength": -18.619583, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -49.767531, "energy": 44.838384, "activity_lines": [ 6.6658, 6.655018, 6.747405, 6.902576 ] }, { "date": "2024-04-19", "close": 7.019, "volume": 568539, "typical_volume": 230580.65, "trend": 7.130533, "fair_value": 7.496186, "relative_strength": -16.066968, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -18.362418, "energy": 17.754277, "activity_lines": [ 6.791533, 6.717618, 6.763152, 6.893942 ] }, { "date": "2024-04-26", "close": 6.876, "volume": 641617, "typical_volume": 246140.2, "trend": 7.098667, "fair_value": 7.494353, "relative_strength": -18.064885, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -25.671153, "energy": 26.261513, "activity_lines": [ 6.8456, 6.7504, 6.766481, 6.87752 ] }, { "date": "2024-05-03", "close": 6.811, "volume": 142970, "typical_volume": 243968.05, "trend": 7.0619, "fair_value": 7.493135, "relative_strength": -16.841715, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -11.454017, "energy": 22.062197, "activity_lines": [ 6.8572, 6.769945, 6.765871, 6.858961 ] }, { "date": "2024-05-10", "close": 6.687, "volume": 795081, "typical_volume": 277949.75, "trend": 7.022267, "fair_value": 7.490372, "relative_strength": -20.204791, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -23.839527, "energy": 20.320364, "activity_lines": [ 6.810333, 6.764873, 6.754543, 6.834774 ] }, { "date": "2024-05-17", "close": 6.53, "volume": 112745, "typical_volume": 281596.4, "trend": 6.9728, "fair_value": 7.486891, "relative_strength": -23.136612, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -56.724189, "energy": 32.625589, "activity_lines": [ 6.7068, 6.730982, 6.729424, 6.803015 ] }, { "date": "2024-05-24", "close": 6.535, "volume": 276370, "typical_volume": 287027.65, "trend": 6.918067, "fair_value": 7.483942, "relative_strength": -20.409141, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -65.814162, "energy": 52.948504, "activity_lines": [ 6.6236, 6.698582, 6.706671, 6.77477 ] }, { "date": "2024-05-31", "close": 6.684, "volume": 140957, "typical_volume": 290397.85, "trend": 6.885, "fair_value": 7.482, "relative_strength": -18.024405, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -54.752298, "energy": 52.568369, "activity_lines": [ 6.622333, 6.695527, 6.700662, 6.759669 ] }, { "date": "2024-06-07", "close": 6.534, "volume": 248418, "typical_volume": 298829.85, "trend": 6.8455, "fair_value": 7.479019, "relative_strength": -19.670149, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -63.938897, "energy": 61.105855, "activity_lines": [ 6.583867, 6.663018, 6.681705, 6.737024 ] }, { "date": "2024-06-14", "close": 6.531, "volume": 273831, "typical_volume": 306183.95, "trend": 6.817833, "fair_value": 7.474391, "relative_strength": -14.386877, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -61.805565, "energy": 54.592649, "activity_lines": [ 6.562867, 6.630327, 6.66469, 6.716733 ] }, { "date": "2024-06-21", "close": 6.497, "volume": 305135, "typical_volume": 320292.7, "trend": 6.792567, "fair_value": 7.471045, "relative_strength": -15.947679, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -63.396871, "energy": 42.321477, "activity_lines": [ 6.540933, 6.593109, 6.646129, 6.696034 ] }, { "date": "2024-06-28", "close": 6.454, "volume": 220489, "typical_volume": 328173.45, "trend": 6.765333, "fair_value": 7.46766, "relative_strength": -15.68536, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -66.460286, "energy": 52.33104, "activity_lines": [ 6.506867, 6.553764, 6.625314, 6.674191 ] }, { "date": "2024-07-05", "close": 6.339, "volume": 402719, "typical_volume": 337738.4, "trend": 6.731667, "fair_value": 7.463872, "relative_strength": -18.712735, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -74.139565, "energy": 63.1634, "activity_lines": [ 6.439867, 6.503782, 6.595238, 6.646686 ] }, { "date": "2024-07-12", "close": 6.214, "volume": 295265, "typical_volume": 335512.25, "trend": 6.704133, "fair_value": 7.458897, "relative_strength": -21.273834, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -83.127597, "energy": 79.889512, "activity_lines": [ 6.3542, 6.440836, 6.555443, 6.613288 ] }, { "date": "2024-07-19", "close": 6.364, "volume": 370183, "typical_volume": 344283.6, "trend": 6.685233, "fair_value": 7.455391, "relative_strength": -18.133275, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -64.716935, "energy": 73.668522, "activity_lines": [ 6.339867, 6.416018, 6.532233, 6.591344 ] }, { "date": "2024-07-26", "close": 6.468, "volume": 539982, "typical_volume": 359353.75, "trend": 6.669933, "fair_value": 7.452853, "relative_strength": -15.479222, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -61.471963, "energy": 62.125342, "activity_lines": [ 6.371333, 6.415982, 6.520395, 6.577329 ] }, { "date": "2024-08-02", "close": 6.602, "volume": 336548, "typical_volume": 368649.05, "trend": 6.6543, "fair_value": 7.451179, "relative_strength": -8.577866, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -38.909556, "energy": 29.375452, "activity_lines": [ 6.4494, 6.441436, 6.521767, 6.572946 ] }, { "date": "2024-08-09", "close": 6.589, "volume": 563533, "typical_volume": 392390.65, "trend": 6.641767, "fair_value": 7.449872, "relative_strength": -7.69305, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -27.653454, "energy": 19.469009, "activity_lines": [ 6.513267, 6.463309, 6.522171, 6.568733 ] }, { "date": "2024-08-16", "close": 6.297, "volume": 198191, "typical_volume": 389338.5, "trend": 6.618267, "fair_value": 7.445923, "relative_strength": -14.57128, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -48.543106, "energy": 24.806422, "activity_lines": [ 6.463133, 6.433818, 6.494648, 6.54649 ] }, { "date": "2024-08-23", "close": 6.098, "volume": 133067, "typical_volume": 373382.4, "trend": 6.592, "fair_value": 7.441795, "relative_strength": -18.172065, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -72.784518, "energy": 41.49491, "activity_lines": [ 6.341133, 6.372455, 6.449395, 6.512925 ] }, { "date": "2024-08-30", "close": 6.209, "volume": 263805, "typical_volume": 341472.25, "trend": 6.5695, "fair_value": 7.439064, "relative_strength": -17.907892, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -63.994198, "energy": 61.480045, "activity_lines": [ 6.273867, 6.339145, 6.41721, 6.488215 ] }, { "date": "2024-09-06", "close": 6.401, "volume": 361727, "typical_volume": 331131.65, "trend": 6.5559, "fair_value": 7.436865, "relative_strength": -12.073446, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -55.566355, "energy": 60.013387, "activity_lines": [ 6.287867, 6.345982, 6.406171, 6.477344 ] }, { "date": "2024-09-13", "close": 6.183, "volume": 588718, "typical_volume": 328486.7, "trend": 6.5354, "fair_value": 7.432551, "relative_strength": -15.213838, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -65.555647, "energy": 64.852995, "activity_lines": [ 6.2426, 6.314145, 6.377314, 6.453286 ] }, { "date": "2024-09-20", "close": 6.102, "volume": 348390, "typical_volume": 338757.7, "trend": 6.515567, "fair_value": 7.427667, "relative_strength": -16.149965, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -71.662508, "energy": 60.350176, "activity_lines": [ 6.1974, 6.270418, 6.344043, 6.425325 ] }, { "date": "2024-09-27", "close": 6.022, "volume": 253304, "typical_volume": 311668.85, "trend": 6.4939, "fair_value": 7.420647, "relative_strength": -18.796037, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -74.757272, "energy": 58.863632, "activity_lines": [ 6.138533, 6.214182, 6.306529, 6.393482 ] }, { "date": "2024-10-04", "close": 6.198, "volume": 423361, "typical_volume": 327199.65, "trend": 6.481767, "fair_value": 7.4155, "relative_strength": -12.818386, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -60.247776, "energy": 54.73766, "activity_lines": [ 6.1434, 6.196164, 6.288943, 6.374391 ] }, { "date": "2024-10-11", "close": 6.096, "volume": 189315, "typical_volume": 322846.9, "trend": 6.463, "fair_value": 7.410513, "relative_strength": -15.258025, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -62.691215, "energy": 54.188908, "activity_lines": [ 6.115, 6.164509, 6.263224, 6.349503 ] }, { "date": "2024-10-18", "close": 6.107, "volume": 244482, "typical_volume": 328023.15, "trend": 6.447767, "fair_value": 7.406423, "relative_strength": -16.349262, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -61.252337, "energy": 46.233381, "activity_lines": [ 6.1106, 6.144055, 6.240643, 6.326535 ] }, { "date": "2024-10-25", "close": 6.158, "volume": 370057, "typical_volume": 334105.1, "trend": 6.434567, "fair_value": 7.402904, "relative_strength": -13.630721, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -56.533106, "energy": 38.676514, "activity_lines": [ 6.128267, 6.141636, 6.225667, 6.307841 ] }, { "date": "2024-11-01", "close": 6.25, "volume": 413902, "typical_volume": 341108.65, "trend": 6.422167, "fair_value": 7.401026, "relative_strength": -11.360496, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -42.705376, "energy": 28.733392, "activity_lines": [ 6.172867, 6.158473, 6.221243, 6.295933 ] }, { "date": "2024-11-08", "close": 6.066, "volume": 594550, "typical_volume": 355579.4, "trend": 6.397367, "fair_value": 7.39734, "relative_strength": -11.015342, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -53.137961, "energy": 31.898545, "activity_lines": [ 6.140933, 6.139091, 6.200633, 6.272955 ] }, { "date": "2024-11-15", "close": 6.296, "volume": 290204, "typical_volume": 359065.15, "trend": 6.373267, "fair_value": 7.39491, "relative_strength": -8.080775, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -30.976424, "energy": 16.774804, "activity_lines": [ 6.194467, 6.164127, 6.203981, 6.266415 ] }, { "date": "2024-11-22", "close": 6.319, "volume": 502607, "typical_volume": 364059.55, "trend": 6.3547, "fair_value": 7.39159, "relative_strength": -5.299365, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -18.099326, "energy": 15.303452, "activity_lines": [ 6.242333, 6.195255, 6.210271, 6.262914 ] }, { "date": "2024-11-29", "close": 6.161, "volume": 291272, "typical_volume": 363859.9, "trend": 6.333033, "fair_value": 7.386673, "relative_strength": -6.919909, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -33.521716, "energy": 15.830881, "activity_lines": [ 6.2234, 6.195182, 6.20161, 6.250417 ] }, { "date": "2024-12-06", "close": 6.096, "volume": 446600, "typical_volume": 367680.75, "trend": 6.313333, "fair_value": 7.382859, "relative_strength": -10.866476, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -43.831942, "energy": 20.098537, "activity_lines": [ 6.1826, 6.182218, 6.18701, 6.235125 ] }, { "date": "2024-12-13", "close": 6.195, "volume": 696722, "typical_volume": 375517.75, "trend": 6.302167, "fair_value": 7.379333, "relative_strength": -9.29934, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -32.190787, "energy": 16.757074, "activity_lines": [ 6.185067, 6.185909, 6.183114, 6.22749 ] }, { "date": "2024-12-20", "close": 6.346, "volume": 400310, "typical_volume": 378705.85, "trend": 6.295867, "fair_value": 7.37759, "relative_strength": -3.615915, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": 0.133921, "energy": 4.065003, "activity_lines": [ 6.229267, 6.217109, 6.1949, 6.230318 ] }, { "date": "2024-12-27", "close": 6.323, "volume": 19051, "typical_volume": 351481.75, "trend": 6.283833, "fair_value": 7.376391, "relative_strength": -4.670202, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -2.122917, "energy": 8.361781, "activity_lines": [ 6.262467, 6.239582, 6.205714, 6.232069 ] }, { "date": "2025-01-03", "close": 6.469, "volume": 181323, "typical_volume": 350638.35, "trend": 6.281667, "fair_value": 7.375147, "relative_strength": -1.959733, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 32.90406, "energy": 44.894923, "activity_lines": [ 6.344067, 6.284673, 6.2317, 6.244015 ] }, { "date": "2025-01-10", "close": 6.625, "volume": 382225, "typical_volume": 363096.25, "trend": 6.2848, "fair_value": 7.374744, "relative_strength": -1.960205, "stage": 1, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 52.753643, "energy": 66.071501, "activity_lines": [ 6.457133, 6.352473, 6.271724, 6.266166 ] }, { "date": "2025-01-17", "close": 6.387, "volume": 671471, "typical_volume": 383479.55, "trend": 6.281133, "fair_value": 7.371192, "relative_strength": -8.046202, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 32.50139, "energy": 55.063331, "activity_lines": [ 6.4556, 6.370182, 6.286571, 6.272759 ] }, { "date": "2025-01-24", "close": 6.151, "volume": 639161, "typical_volume": 397351.25, "trend": 6.271033, "fair_value": 7.364173, "relative_strength": -10.77147, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 11.955537, "energy": 24.287156, "activity_lines": [ 6.3626, 6.339145, 6.278095, 6.264363 ] }, { "date": "2025-01-31", "close": 6.237, "volume": 331371, "typical_volume": 384483.9, "trend": 6.267633, "fair_value": 7.36, "relative_strength": -9.712066, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 3.803831, "energy": 6.806445, "activity_lines": [ 6.311267, 6.326382, 6.279, 6.262168 ] }, { "date": "2025-02-07", "close": 6.358, "volume": 412483, "typical_volume": 387688.55, "trend": 6.272433, "fair_value": 7.356692, "relative_strength": -8.976918, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 4.787808, "energy": 9.710315, "activity_lines": [ 6.306, 6.337109, 6.291171, 6.267998 ] }, { "date": "2025-02-14", "close": 6.184, "volume": 564737, "typical_volume": 403260.2, "trend": 6.266433, "fair_value": 7.350679, "relative_strength": -13.161897, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -12.754047, "energy": 16.575434, "activity_lines": [ 6.250133, 6.312618, 6.285552, 6.262292 ] }, { "date": "2025-02-21", "close": 6.257, "volume": 437659, "typical_volume": 403975.1, "trend": 6.2594, "fair_value": 7.344923, "relative_strength": -12.774686, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 3.732312, "energy": 8.958699, "activity_lines": [ 6.248, 6.2998, 6.286114, 6.261684 ] }, { "date": "2025-02-28", "close": 6.522, "volume": 866098, "typical_volume": 437814.25, "trend": 6.256733, "fair_value": 7.33875, "relative_strength": -9.314546, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 57.526233, "energy": 25.925791, "activity_lines": [ 6.342867, 6.334036, 6.311633, 6.278626 ] }, { "date": "2025-03-07", "close": 6.459, "volume": 737745, "typical_volume": 462477.4, "trend": 6.2524, "fair_value": 7.331846, "relative_strength": -9.775044, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 51.917714, "energy": 32.668821, "activity_lines": [ 6.392, 6.353618, 6.329124, 6.291675 ] }, { "date": "2025-03-14", "close": 6.524, "volume": 1658785, "typical_volume": 526913.8, "trend": 6.259967, "fair_value": 7.32791, "relative_strength": -8.753812, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 59.533402, "energy": 49.088219, "activity_lines": [ 6.448, 6.382545, 6.351129, 6.309198 ] }, { "date": "2025-03-21", "close": 6.529, "volume": 621093, "typical_volume": 537273.35, "trend": 6.274333, "fair_value": 7.324679, "relative_strength": -9.350185, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 58.771573, "energy": 58.682153, "activity_lines": [ 6.4946, 6.411382, 6.371867, 6.326555 ] }, { "date": "2025-03-28", "close": 6.59, "volume": 257838, "typical_volume": 520437.75, "trend": 6.287033, "fair_value": 7.322205, "relative_strength": -7.623733, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 63.506557, "energy": 60.440466, "activity_lines": [ 6.538533, 6.453055, 6.397086, 6.34692 ] }, { "date": "2025-04-04", "close": 6.982, "volume": 1447139, "typical_volume": 578284.5, "trend": 6.3064, "fair_value": 7.321321, "relative_strength": 9.346284, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 85.305216, "energy": 76.402825, "activity_lines": [ 6.690933, 6.562309, 6.457143, 6.391757 ] }, { "date": "2025-04-11", "close": 6.6, "volume": 2195612, "typical_volume": 662934.75, "trend": 6.3203, "fair_value": 7.316942, "relative_strength": 5.33511, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 58.804442, "energy": 53.451916, "activity_lines": [ 6.685333, 6.587, 6.477552, 6.410699 ] }, { "date": "2025-04-18", "close": 6.556, "volume": 1158155, "typical_volume": 706278.9, "trend": 6.335433, "fair_value": 7.311199, "relative_strength": -0.787736, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 55.953778, "energy": 38.917479, "activity_lines": [ 6.655667, 6.597091, 6.492433, 6.425905 ] }, { "date": "2025-04-25", "close": 6.325, "volume": 378736, "typical_volume": 702885.7, "trend": 6.345533, "fair_value": 7.301628, "relative_strength": -7.485186, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 30.736965, "energy": 21.292295, "activity_lines": [ 6.546867, 6.561582, 6.483433, 6.425232 ] }, { "date": "2025-05-02", "close": 6.148, "volume": 543835, "typical_volume": 695241.35, "trend": 6.343867, "fair_value": 7.290468, "relative_strength": -11.98389, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 6.955688, "energy": 13.225593, "activity_lines": [ 6.392667, 6.491327, 6.456486, 6.412488 ] }, { "date": "2025-05-09", "close": 6.198, "volume": 717018, "typical_volume": 711076.75, "trend": 6.347267, "fair_value": 7.277295, "relative_strength": -13.291554, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -19.538777, "energy": 24.772142, "activity_lines": [ 6.2846, 6.432145, 6.434524, 6.403077 ] }, { "date": "2025-05-16", "close": 5.99, "volume": 424327, "typical_volume": 731340.55, "trend": 6.343367, "fair_value": 7.261532, "relative_strength": -18.531638, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -33.845201, "energy": 37.200036, "activity_lines": [ 6.159467, 6.341036, 6.393457, 6.380028 ] }, { "date": "2025-05-23", "close": 6.025, "volume": 702904, "typical_volume": 757419.6, "trend": 6.338933, "fair_value": 7.250147, "relative_strength": -15.272097, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -37.959279, "energy": 53.593412, "activity_lines": [ 6.086667, 6.264818, 6.35731, 6.359488 ] }, { "date": "2025-05-30", "close": 5.928, "volume": 399745, "typical_volume": 758295.6, "trend": 6.3282, "fair_value": 7.237974, "relative_strength": -17.504598, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -42.878657, "energy": 60.315826, "activity_lines": [ 6.016933, 6.180036, 6.314038, 6.332976 ] }, { "date": "2025-06-06", "close": 5.81, "volume": 559957, "typical_volume": 752719.9, "trend": 6.319667, "fair_value": 7.221564, "relative_strength": -19.781378, "stage": 4, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -74.464882, "energy": 74.223184, "activity_lines": [ 5.934333, 6.084727, 6.262848, 6.299544 ] }, { "date": "2025-06-13", "close": 5.715, "volume": 902314, "typical_volume": 765877.55, "trend": 6.3003, "fair_value": 7.201122, "relative_strength": -18.281375, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -75.779557, "energy": 76.099031, "activity_lines": [ 5.8426, 5.986327, 6.205357, 6.260533 ] }, { "date": "2025-06-20", "close": 5.775, "volume": 1271900, "typical_volume": 812904.0, "trend": 6.282167, "fair_value": 7.184603, "relative_strength": -16.552611, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -67.900335, "energy": 72.187606, "activity_lines": [ 5.803067, 5.921873, 6.155657, 6.226643 ] }, { "date": "2025-06-27", "close": 5.505, "volume": 597549, "typical_volume": 822157.3, "trend": 6.2603, "fair_value": 7.164013, "relative_strength": -20.993237, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -79.991096, "energy": 79.025068, "activity_lines": [ 5.687867, 5.823327, 6.082443, 6.176503 ] }, { "date": "2025-07-04", "close": 5.426, "volume": 1115609, "typical_volume": 849700.9, "trend": 6.237967, "fair_value": 7.143808, "relative_strength": -21.464233, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -80.93846, "energy": 86.515008, "activity_lines": [ 5.581, 5.729527, 6.005767, 6.122677 ] }, { "date": "2025-07-11", "close": 5.459, "volume": 428880, "typical_volume": 849261.95, "trend": 6.213433, "fair_value": 7.122474, "relative_strength": -21.509169, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -76.755468, "energy": 90.435843, "activity_lines": [ 5.5186, 5.658073, 5.935843, 6.072422 ] }, { "date": "2025-07-18", "close": 5.453, "volume": 389107, "typical_volume": 825412.4, "trend": 6.183667, "fair_value": 7.103538, "relative_strength": -21.609908, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -72.779212, "energy": 89.426103, "activity_lines": [ 5.4776, 5.598055, 5.869148, 6.023361 ] }, { "date": "2025-07-25", "close": 5.355, "volume": 835737, "typical_volume": 830312.0, "trend": 6.1514, "fair_value": 7.085436, "relative_strength": -23.290007, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -79.071226, "energy": 91.677156, "activity_lines": [ 5.4214, 5.533764, 5.79821, 5.969899 ] }, { "date": "2025-08-01", "close": 5.581, "volume": 744789, "typical_volume": 784612.2, "trend": 6.1218, "fair_value": 7.068737, "relative_strength": -17.872954, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -67.239759, "energy": 84.722037, "activity_lines": [ 5.468533, 5.522109, 5.754052, 5.933099 ] }, { "date": "2025-08-08", "close": 5.403, "volume": 1207045, "typical_volume": 813909.8, "trend": 6.081067, "fair_value": 7.053013, "relative_strength": -23.028853, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -73.130377, "energy": 66.272859, "activity_lines": [ 5.451267, 5.486164, 5.697433, 5.886725 ] }, { "date": "2025-08-15", "close": 5.354, "volume": 250668, "typical_volume": 813551.3, "trend": 6.046633, "fair_value": 7.035769, "relative_strength": -25.012401, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -75.695386, "energy": 66.958441, "activity_lines": [ 5.4192, 5.450855, 5.64151, 5.839817 ] }, { "date": "2025-08-22", "close": 5.309, "volume": 944529, "typical_volume": 788420.8, "trend": 6.018567, "fair_value": 7.016628, "relative_strength": -26.272255, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -76.226906, "energy": 66.303372, "activity_lines": [ 5.379133, 5.415655, 5.587186, 5.792228 ] }, { "date": "2025-08-29", "close": 5.343, "volume": 412294, "typical_volume": 699254.9, "trend": 5.988767, "fair_value": 6.9965, "relative_strength": -23.36238, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -69.320522, "energy": 65.554518, "activity_lines": [ 5.36, 5.394018, 5.544067, 5.748643 ] }, { "date": "2025-09-05", "close": 5.315, "volume": 1035681, "typical_volume": 693131.2, "trend": 5.954, "fair_value": 6.976827, "relative_strength": -22.10152, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -69.008485, "energy": 64.981173, "activity_lines": [ 5.332333, 5.375145, 5.504267, 5.705174 ] }, { "date": "2025-09-12", "close": 5.243, "volume": 419038, "typical_volume": 695146.3, "trend": 5.922633, "fair_value": 6.95791, "relative_strength": -24.34484, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -76.317716, "energy": 67.480618, "activity_lines": [ 5.2984, 5.346636, 5.463519, 5.659303 ] }, { "date": "2025-09-19", "close": 5.202, "volume": 686211, "typical_volume": 702265.1, "trend": 5.887467, "fair_value": 6.930423, "relative_strength": -23.966826, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -77.326593, "energy": 67.873361, "activity_lines": [ 5.261467, 5.314, 5.424019, 5.612811 ] }, { "date": "2025-09-26", "close": 5.238, "volume": 836247, "typical_volume": 708226.55, "trend": 5.844667, "fair_value": 6.903199, "relative_strength": -23.580508, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -69.490247, "energy": 65.703756, "activity_lines": [ 5.246667, 5.292582, 5.392452, 5.57091 ] }, { "date": "2025-10-03", "close": 5.135, "volume": 711238, "typical_volume": 722572.1, "trend": 5.800533, "fair_value": 6.875391, "relative_strength": -25.557112, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -80.024681, "energy": 72.492044, "activity_lines": [ 5.202267, 5.256345, 5.355648, 5.525125 ] }, { "date": "2025-10-10", "close": 5.278, "volume": 746520, "typical_volume": 724752.9, "trend": 5.759, "fair_value": 6.847641, "relative_strength": -20.783827, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -65.168939, "energy": 60.063525, "activity_lines": [ 5.2194, 5.250109, 5.336533, 5.491413 ] }, { "date": "2025-10-17", "close": 5.28, "volume": 904730, "typical_volume": 750002.15, "trend": 5.717367, "fair_value": 6.821212, "relative_strength": -19.745375, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -61.164824, "energy": 51.166222, "activity_lines": [ 5.239667, 5.249745, 5.321167, 5.46051 ] }, { "date": "2025-10-24", "close": 5.226, "volume": 462046, "typical_volume": 745106.6, "trend": 5.6719, "fair_value": 6.797994, "relative_strength": -21.410392, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -62.04559, "energy": 47.921632, "activity_lines": [ 5.239467, 5.2418, 5.303743, 5.428809 ] }, { "date": "2025-10-31", "close": 5.178, "volume": 677524, "typical_volume": 733867.1, "trend": 5.611767, "fair_value": 6.772378, "relative_strength": -22.800995, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -66.324552, "energy": 46.573746, "activity_lines": [ 5.221667, 5.227455, 5.284529, 5.396944 ] }, { "date": "2025-11-07", "close": 5.312, "volume": 829402, "typical_volume": 711742.2, "trend": 5.568833, "fair_value": 6.753199, "relative_strength": -19.776732, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -44.793952, "energy": 33.868542, "activity_lines": [ 5.252533, 5.239855, 5.280633, 5.377604 ] }, { "date": "2025-11-14", "close": 5.212, "volume": 664269, "typical_volume": 715078.2, "trend": 5.524033, "fair_value": 6.733603, "relative_strength": -22.580151, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -48.868198, "energy": 35.037923, "activity_lines": [ 5.238267, 5.234636, 5.269419, 5.354583 ] }, { "date": "2025-11-21", "close": 5.42, "volume": 686058, "typical_volume": 693600.65, "trend": 5.493867, "fair_value": 6.716365, "relative_strength": -16.327055, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -22.043495, "energy": 13.860472, "activity_lines": [ 5.297733, 5.269109, 5.27941, 5.347871 ] }, { "date": "2025-11-28", "close": 5.173, "volume": 1731024, "typical_volume": 758707.85, "trend": 5.461367, "fair_value": 6.698333, "relative_strength": -20.767366, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -48.166732, "energy": 21.920065, "activity_lines": [ 5.265533, 5.255455, 5.265905, 5.32717 ] }, { "date": "2025-12-05", "close": 5.136, "volume": 653416, "typical_volume": 771923.3, "trend": 5.425967, "fair_value": 6.679237, "relative_strength": -20.894141, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -62.917584, "energy": 33.96662, "activity_lines": [ 5.224533, 5.2356, 5.250238, 5.306178 ] }, { "date": "2025-12-12", "close": 5.134, "volume": 694860, "typical_volume": 764879.45, "trend": 5.397433, "fair_value": 6.658673, "relative_strength": -20.462522, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -59.479392, "energy": 35.640204, "activity_lines": [ 5.185667, 5.217236, 5.23589, 5.287342 ] }, { "date": "2025-12-19", "close": 5.142, "volume": 308502, "typical_volume": 743065.1, "trend": 5.368, "fair_value": 6.637987, "relative_strength": -21.812166, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -59.359344, "energy": 50.333033, "activity_lines": [ 5.161333, 5.200345, 5.223357, 5.270862 ] }, { "date": "2025-12-26", "close": 5.074, "volume": 326004, "typical_volume": 699013.05, "trend": 5.339533, "fair_value": 6.616987, "relative_strength": -21.85529, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -66.050837, "energy": 63.614044, "activity_lines": [ 5.119, 5.173564, 5.206438, 5.251895 ] }, { "date": "2026-01-02", "close": 5.13, "volume": 246053, "typical_volume": 698782.3, "trend": 5.316867, "fair_value": 6.596641, "relative_strength": -21.535443, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -58.505273, "energy": 54.575452, "activity_lines": [ 5.1184, 5.160709, 5.196419, 5.238376 ] }, { "date": "2026-01-09", "close": 5.108, "volume": 587543, "typical_volume": 680933.0, "trend": 5.296633, "fair_value": 6.578551, "relative_strength": -21.655608, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -58.96584, "energy": 47.794748, "activity_lines": [ 5.113333, 5.1456, 5.185371, 5.224901 ] }, { "date": "2026-01-16", "close": 5.13, "volume": 874777, "typical_volume": 704057.15, "trend": 5.275133, "fair_value": 6.560147, "relative_strength": -20.772535, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -55.564139, "energy": 38.567749, "activity_lines": [ 5.117467, 5.135764, 5.177376, 5.214151 ] }, { "date": "2026-01-23", "close": 5.084, "volume": 957654, "typical_volume": 700155.8, "trend": 5.2611, "fair_value": 6.543083, "relative_strength": -19.166272, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -58.364038, "energy": 35.823971, "activity_lines": [ 5.106533, 5.120873, 5.166014, 5.201819 ] }, { "date": "2026-01-30", "close": 5.034, "volume": 1705349, "typical_volume": 764471.35, "trend": 5.248033, "fair_value": 6.526955, "relative_strength": -20.524681, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -64.715426, "energy": 40.620594, "activity_lines": [ 5.0828, 5.099218, 5.15099, 5.187168 ] }, { "date": "2026-02-06", "close": 5.098, "volume": 754729, "typical_volume": 767897.25, "trend": 5.236, "fair_value": 6.509256, "relative_strength": -19.455241, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -53.053163, "energy": 34.45187, "activity_lines": [ 5.083067, 5.096218, 5.143057, 5.177488 ] }, { "date": "2026-02-13", "close": 5.105, "volume": 837565, "typical_volume": 767963.15, "trend": 5.2244, "fair_value": 6.491167, "relative_strength": -17.975889, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -51.923147, "energy": 32.627325, "activity_lines": [ 5.0878, 5.095855, 5.136286, 5.169037 ] }, { "date": "2026-02-20", "close": 5.132, "volume": 428196, "typical_volume": 753811.05, "trend": 5.216967, "fair_value": 6.471481, "relative_strength": -18.793302, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -39.380836, "energy": 24.777912, "activity_lines": [ 5.101733, 5.100964, 5.132719, 5.163075 ] }, { "date": "2026-02-27", "close": 5.122, "volume": 176315, "typical_volume": 725300.8, "trend": 5.201667, "fair_value": 6.45266, "relative_strength": -19.531405, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -35.974846, "energy": 18.426659, "activity_lines": [ 5.1122, 5.104291, 5.128214, 5.156948 ] }, { "date": "2026-03-06", "close": 5.288, "volume": 902075, "typical_volume": 725168.05, "trend": 5.197833, "fair_value": 6.433968, "relative_strength": -10.5624, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -2.919053, "energy": 11.26606, "activity_lines": [ 5.175467, 5.138164, 5.140262, 5.162518 ] }, { "date": "2026-03-13", "close": 5.48, "volume": 854870, "typical_volume": 744809.25, "trend": 5.202033, "fair_value": 6.416494, "relative_strength": -7.057897, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 44.661274, "energy": 51.236609, "activity_lines": [ 5.2858, 5.203055, 5.170557, 5.180723 ] }, { "date": "2026-03-20", "close": 5.51, "volume": 598081, "typical_volume": 740837.1, "trend": 5.208733, "fair_value": 6.399776, "relative_strength": -2.786463, "stage": 1, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 54.505782, "energy": 71.108276, "activity_lines": [ 5.380667, 5.267036, 5.2025, 5.200591 ] }, { "date": "2026-03-27", "close": 5.655, "volume": 1887933, "typical_volume": 793763.65, "trend": 5.219133, "fair_value": 6.386256, "relative_strength": -0.892982, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "up", "direction": 86.218643, "energy": 89.05798, "activity_lines": [ 5.496867, 5.350073, 5.246671, 5.229383 ] }, { "date": "2026-04-03", "close": 5.496, "volume": 1038908, "typical_volume": 812495.6, "trend": 5.225167, "fair_value": 6.371936, "relative_strength": -7.323023, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 65.083847, "energy": 80.338173, "activity_lines": [ 5.5252, 5.394655, 5.274067, 5.247245 ] }, { "date": "2026-04-10", "close": 5.215, "volume": 1099292, "typical_volume": 833157.3, "trend": 5.224233, "fair_value": 6.356583, "relative_strength": -14.660156, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 54.885083, "energy": 50.536904, "activity_lines": [ 5.434933, 5.380655, 5.273348, 5.246589 ] }, { "date": "2026-04-17", "close": 4.965, "volume": 1095489, "typical_volume": 801380.55, "trend": 5.216333, "fair_value": 6.339436, "relative_strength": -19.878378, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 9.447651, "energy": 7.673529, "activity_lines": [ 5.2662, 5.317909, 5.249795, 5.229865 ] }, { "date": "2026-04-24", "close": 5.011, "volume": 654860, "typical_volume": 801452.75, "trend": 5.208767, "fair_value": 6.323147, "relative_strength": -16.262469, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "mixed", "direction": -16.478402, "energy": 26.357027, "activity_lines": [ 5.147133, 5.265945, 5.231614, 5.216617 ] }, { "date": "2026-05-01", "close": 4.988, "volume": 790927, "typical_volume": 806256.1, "trend": 5.203867, "fair_value": 6.306212, "relative_strength": -16.940854, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "mixed", "direction": -37.742792, "energy": 41.474963, "activity_lines": [ 5.053667, 5.211509, 5.211838, 5.202374 ] }, { "date": "2026-05-08", "close": 4.8245, "volume": 766669, "typical_volume": 829164.45, "trend": 5.18875, "fair_value": 6.287381, "relative_strength": -20.634836, "stage": 1, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -78.323358, "energy": 67.194201, "activity_lines": [ 4.950167, 5.129964, 5.177186, 5.177899 ] }, { "date": "2026-05-15", "close": 4.865, "volume": 295089, "typical_volume": 827618.7, "trend": 5.174917, "fair_value": 6.269433, "relative_strength": -19.075813, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -71.167737, "energy": 77.804324, "activity_lines": [ 4.904933, 5.061191, 5.147902, 5.157012 ] }, { "date": "2026-05-22", "close": 4.835, "volume": 1020364, "typical_volume": 866334.25, "trend": 5.161883, "fair_value": 6.250702, "relative_strength": -19.521367, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -71.189728, "energy": 77.152652, "activity_lines": [ 4.873033, 4.994655, 5.116757, 5.135082 ] }, { "date": "2026-05-29", "close": 4.7515, "volume": 1065214, "typical_volume": 890217.8, "trend": 5.147667, "fair_value": 6.232538, "relative_strength": -21.080752, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -75.889772, "energy": 79.662093, "activity_lines": [ 4.821967, 4.924664, 5.079064, 5.108605 ] }, { "date": "2026-06-05", "close": 4.874, "volume": 274398, "typical_volume": 860198.85, "trend": 5.133067, "fair_value": 6.215442, "relative_strength": -18.218964, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -64.607442, "energy": 66.200161, "activity_lines": [ 4.829033, 4.890736, 5.054736, 5.090949 ] }, { "date": "2026-06-12", "close": 4.8825, "volume": 455086, "typical_volume": 835070.45, "trend": 5.122083, "fair_value": 6.200433, "relative_strength": -19.982712, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -62.366646, "energy": 53.687314, "activity_lines": [ 4.846533, 4.872555, 5.032436, 5.074784 ] }, { "date": "2026-06-19", "close": 4.9065, "volume": 293809, "typical_volume": 764493.45, "trend": 5.104967, "fair_value": 6.184468, "relative_strength": -20.948971, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -59.139279, "energy": 45.774209, "activity_lines": [ 4.868167, 4.869891, 5.013381, 5.060875 ] }, { "date": "2026-06-26", "close": 5.021, "volume": 184700, "typical_volume": 735992.0, "trend": 5.0999, "fair_value": 6.170333, "relative_strength": -16.046864, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -42.358874, "energy": 27.909013, "activity_lines": [ 4.9252, 4.893655, 5.005838, 5.055458 ] }, { "date": "2026-07-03", "close": 4.925, "volume": 133686, "typical_volume": 700798.05, "trend": 5.092867, "fair_value": 6.155359, "relative_strength": -19.494864, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -38.824109, "energy": 23.893352, "activity_lines": [ 4.937833, 4.898945, 4.989519, 5.044174 ] }, { "date": "2026-07-10", "close": 4.9, "volume": 824574, "typical_volume": 720616.95, "trend": 5.085067, "fair_value": 6.142385, "relative_strength": -19.012168, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -38.918758, "energy": 24.490967, "activity_lines": [ 4.930567, 4.901255, 4.971676, 5.031731 ] }, { "date": "2026-07-17", "close": 4.953, "volume": 270745, "typical_volume": 725338.45, "trend": 5.078767, "fair_value": 6.129538, "relative_strength": -16.424855, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -37.229619, "energy": 24.994069, "activity_lines": [ 4.939233, 4.9148, 4.959986, 5.023211 ] }, { "date": "2026-07-24", "close": 5.003, "volume": 307888, "typical_volume": 695629.1, "trend": 5.0764, "fair_value": 6.116923, "relative_strength": -14.950961, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -35.423918, "energy": 20.939676, "activity_lines": [ 4.959867, 4.9351, 4.953862, 5.018323 ] }, { "date": "2026-07-31", "close": 4.97, "volume": 316802, "typical_volume": 668725.7, "trend": 5.071067, "fair_value": 6.103468, "relative_strength": -15.47628, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -23.477448, "energy": 14.028014, "activity_lines": [ 4.963067, 4.946891, 4.945952, 5.011458 ] }, { "date": "2026-08-07", "close": 4.74, "volume": 340657, "typical_volume": 655854.5, "trend": 5.0588, "fair_value": 6.087423, "relative_strength": -21.145632, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -74.296801, "energy": 41.772923, "activity_lines": [ 4.893, 4.914409, 4.918567, 4.990099 ] } ], "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." } } }