{ "ticker": { "uuid": "99a37a02-a494-4052-af70-591a89e43830", "symbol": "TRI", "name": "Thomson Reuters Corporation", "exchange": "TOR", "country": "CA", "assetType": "equity" }, "methodBoundary": "Trend Architecture is a weekly structural classification, not a forecast, probability of return, recommendation or execution signal. Confidence measures geometric agreement and external confirmation only.", "analysis": { "eligible": true, "as_of": "2026-08-07", "benchmark": "^GSPTSE", "stage": 1, "stage_name": "Basing", "phase": "1b", "phase_label": "Stage 1B \u00b7 Basing", "transition": "stage_1_building", "transition_label": "Base still building", "confidence": 96.0, "architecture_regime": "rotation_up", "architecture_regime_label": "Rotation Up", "architecture_modifier": "Structural repair", "architecture_gate": "mixed", "architecture_direction": 44.815, "architecture_energy": 56.289, "architecture_maturity": 11.351, "architecture_confidence": 55.896, "architecture_tenure": "New", "architecture": { "interpretation": { "headline": "The Activity Line structure is rotating upward.", "body": "Fast Activity is improving relative to Slow Activity and price acceptance is strengthening. This is earlier than full positive Trend confirmation and remains a developing repair." }, "scores": { "balance": 32.47, "rotation_up": 70.01, "upward_expansion": 60.75, "deceleration": 21.89, "rotation_down": 16.89, "downward_expansion": 19.08 }, "activity_lines": [ 135.825333, 130.323454, 125.584465, 125.059175 ], "activity_state": "Moderate", "activity_direction": "Expanding", "rotation_direction": "Improving", "price_acceptance": 0.833333 }, "latest_close": 142.029999, "trend_reference": 127.165412, "distance_from_trend": 0.116892, "trend_direction": "Weakening", "fair_value": 195.223705, "distance_from_fair_value": -0.272476, "fair_value_direction": "Improving", "relative_strength": -21.920718, "relative_strength_direction": "Improving", "price_momentum": 0.218302, "excess_performance": 0.097881, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.116892, "read": "Above" }, { "label": "Trend direction", "positive": false, "value": -0.123157, "read": "Falling" }, { "label": "Price vs current Fair Value", "positive": false, "value": -0.272476, "read": "Below anchor" }, { "label": "Fair Value direction", "positive": true, "value": 0.092497, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.219207, "read": "Lagging" }, { "label": "Relative strength direction", "positive": true, "value": 0.21605, "read": "Improving" }, { "label": "Price momentum", "positive": true, "value": 0.218302, "read": "Positive" }, { "label": "Volume balance", "positive": true, "value": 2.659284, "read": "Demand-led" } ], "volume": { "latest": 4208400, "relative_activity": 1.47714, "balance": 2.659284, "dry_up": 1.468882, "accumulation_observations": 5, "distribution_observations": 2 }, "risk": { "range_context": 0.086924, "annualized_volatility": 0.482755, "from_high_reference": -0.408235, "from_low_reference": 0.330694 }, "levels": { "trend_reference": 127.165412, "fair_value_reference": 195.223705, "structural_low": 106.733808, "invalidation": "A renewed decline below the structural range low, widening the discount to current Fair Value while Trend falls, weakens the base diagnosis." }, "outcomes": [ { "horizon": "Near term", "sample_count": 1, "median_return": 0.073278, "positive_rate": 1.0, "directional_follow_through": 1.0, "median_excess_return": -0.023778, "regime_survival": 0.0, "best_return": 0.073278, "worst_return": 0.073278, "sufficient": false }, { "horizon": "Intermediate", "sample_count": 1, "median_return": -0.00486, "positive_rate": 0.0, "directional_follow_through": 0.0, "median_excess_return": -0.001158, "regime_survival": 0.0, "best_return": -0.00486, "worst_return": -0.00486, "sufficient": false }, { "horizon": "Extended", "sample_count": 1, "median_return": 0.146867, "positive_rate": 1.0, "directional_follow_through": 1.0, "median_excess_return": 0.040009, "regime_survival": 0.0, "best_return": 0.146867, "worst_return": 0.146867, "sufficient": false }, { "horizon": "Full cycle", "sample_count": 1, "median_return": 0.283755, "positive_rate": 1.0, "directional_follow_through": 1.0, "median_excess_return": 0.182225, "regime_survival": 0.0, "best_return": 0.283755, "worst_return": 0.283755, "sufficient": false } ], "ledger": [ { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2024-04-12", "end": "2024-05-03", "tenure": "New", "return": 0.073515, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2024-05-10", "end": "2024-06-28", "tenure": "Developing", "return": 0.008168, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2024-07-05", "end": "2024-09-13", "tenure": "Developing", "return": 0.02132, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2024-09-20", "end": "2024-11-15", "tenure": "Developing", "return": -0.010342, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2024-11-22", "end": "2024-12-13", "tenure": "New", "return": 0.062864, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2024-12-20", "end": "2025-01-10", "tenure": "New", "return": -0.039758, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-01-17", "end": "2025-01-31", "tenure": "New", "return": 0.05952, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-02-07", "end": "2025-03-28", "tenure": "Developing", "return": -0.026803, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2025-04-04", "end": "2025-05-02", "tenure": "Developing", "return": 0.077978, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-05-09", "end": "2025-08-08", "tenure": "Established", "return": -0.049568, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2025-08-15", "end": "2025-09-26", "tenure": "Developing", "return": -0.072355, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-10-03", "end": "2026-07-10", "tenure": "Extended", "return": -0.385655, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-07-17", "end": "2026-07-31", "tenure": "New", "return": 0.021087, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2026-08-07", "end": "2026-08-07", "tenure": "New", "return": 0.0, "active": true } ], "chart_path": [ { "date": "2023-08-18", "close": 161.170273, "volume": 1419300, "typical_volume": 1599599.5, "trend": 159.530498, "fair_value": 126.685931, "relative_strength": 7.744351, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 38.076775, "energy": 23.059627, "activity_lines": [ 164.102847, 164.181026, 162.412925, 161.597696 ] }, { "date": "2023-08-25", "close": 162.091568, "volume": 1318900, "typical_volume": 1625791.85, "trend": 160.057448, "fair_value": 127.144844, "relative_strength": 7.868242, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 34.86151, "energy": 17.131428, "activity_lines": [ 163.360671, 163.825748, 162.441832, 161.762926 ] }, { "date": "2023-09-01", "close": 164.789642, "volume": 1397500, "typical_volume": 1642210.7, "trend": 160.561131, "fair_value": 127.630761, "relative_strength": 5.575961, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 39.233638, "energy": 17.85362, "activity_lines": [ 163.575609, 163.933898, 162.740455, 162.068229 ] }, { "date": "2023-09-08", "close": 164.902466, "volume": 1043500, "typical_volume": 1642662.95, "trend": 161.069815, "fair_value": 128.108381, "relative_strength": 7.767774, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 38.101125, "energy": 16.618054, "activity_lines": [ 163.915837, 164.066381, 163.037366, 162.348315 ] }, { "date": "2023-09-15", "close": 165.146896, "volume": 1683600, "typical_volume": 1669973.0, "trend": 161.425371, "fair_value": 128.579698, "relative_strength": 4.800673, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 49.281894, "energy": 23.184053, "activity_lines": [ 164.337779, 164.290881, 163.371829, 162.611353 ] }, { "date": "2023-09-22", "close": 159.11145, "volume": 1144200, "typical_volume": 1605469.35, "trend": 161.579579, "fair_value": 128.995148, "relative_strength": 5.026025, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 16.014331, "energy": 7.545308, "activity_lines": [ 162.834872, 163.350471, 163.137615, 162.462067 ] }, { "date": "2023-09-29", "close": 156.206558, "volume": 1334000, "typical_volume": 1582499.6, "trend": 161.655951, "fair_value": 129.383704, "relative_strength": 4.140779, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -22.588227, "energy": 21.023553, "activity_lines": [ 160.500923, 161.976527, 162.582472, 162.115421 ] }, { "date": "2023-10-06", "close": 160.625, "volume": 978300, "typical_volume": 1555780.55, "trend": 161.850334, "fair_value": 129.792081, "relative_strength": 8.360907, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -8.114422, "energy": 22.994861, "activity_lines": [ 160.032123, 161.528688, 162.449545, 162.048908 ] }, { "date": "2023-10-13", "close": 162.458191, "volume": 728000, "typical_volume": 1544011.3, "trend": 161.948882, "fair_value": 130.206463, "relative_strength": 8.000134, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -9.608093, "energy": 20.948493, "activity_lines": [ 160.452028, 161.51379, 162.486128, 162.088124 ] }, { "date": "2023-10-20", "close": 156.921036, "volume": 1378100, "typical_volume": 1487008.9, "trend": 161.74266, "fair_value": 130.594027, "relative_strength": 5.861513, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -23.548992, "energy": 36.029368, "activity_lines": [ 159.189167, 160.536643, 161.977132, 161.763747 ] }, { "date": "2023-10-27", "close": 153.715286, "volume": 983600, "typical_volume": 1440914.45, "trend": 161.390967, "fair_value": 130.984308, "relative_strength": 5.46356, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -69.257327, "energy": 52.251843, "activity_lines": [ 157.406114, 159.149912, 161.156583, 161.245852 ] }, { "date": "2023-11-03", "close": 163.802567, "volume": 1735000, "typical_volume": 1424531.95, "trend": 161.358703, "fair_value": 131.383179, "relative_strength": 5.821465, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -9.968471, "energy": 12.240026, "activity_lines": [ 159.345231, 159.732777, 161.297666, 161.401439 ] }, { "date": "2023-11-10", "close": 169.762772, "volume": 1680700, "typical_volume": 1411020.0, "trend": 161.611677, "fair_value": 131.843697, "relative_strength": 10.101456, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 32.492887, "energy": 15.399795, "activity_lines": [ 162.764683, 161.368206, 161.991133, 161.943637 ] }, { "date": "2023-11-17", "close": 177.727448, "volume": 1741200, "typical_volume": 1385725.0, "trend": 161.939258, "fair_value": 132.373202, "relative_strength": 11.813705, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 79.10149, "energy": 65.113375, "activity_lines": [ 168.229842, 164.361338, 163.42046, 162.983364 ] }, { "date": "2023-11-24", "close": 178.472855, "volume": 1282000, "typical_volume": 1380390.0, "trend": 162.340574, "fair_value": 132.918684, "relative_strength": 12.201599, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 80.099407, "energy": 82.263417, "activity_lines": [ 172.92552, 167.256817, 164.872167, 164.050048 ] }, { "date": "2023-12-01", "close": 179.539063, "volume": 2185300, "typical_volume": 1414085.0, "trend": 163.331398, "fair_value": 133.468461, "relative_strength": 10.519457, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 76.981756, "energy": 87.065908, "activity_lines": [ 176.539813, 170.103862, 166.344267, 165.159628 ] }, { "date": "2023-12-08", "close": 181.350693, "volume": 1198400, "typical_volume": 1396945.0, "trend": 164.159652, "fair_value": 134.034583, "relative_strength": 11.86782, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 77.542609, "energy": 89.031408, "activity_lines": [ 179.036397, 172.908883, 167.916413, 166.322163 ] }, { "date": "2023-12-15", "close": 175.406311, "volume": 2553100, "typical_volume": 1443430.0, "trend": 164.68792, "fair_value": 134.562659, "relative_strength": 6.877749, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 66.124865, "energy": 79.071674, "activity_lines": [ 178.381645, 174.175941, 168.834842, 167.047754 ] }, { "date": "2023-12-22", "close": 178.982391, "volume": 859800, "typical_volume": 1382255.0, "trend": 165.366341, "fair_value": 135.1136, "relative_strength": 6.903297, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 67.060302, "energy": 66.662089, "activity_lines": [ 178.542684, 175.824445, 170.049558, 167.969978 ] }, { "date": "2023-12-29", "close": 182.794312, "volume": 392400, "typical_volume": 1351845.0, "trend": 166.272491, "fair_value": 135.684013, "relative_strength": 8.437736, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 75.168105, "energy": 59.635366, "activity_lines": [ 179.8907, 177.865585, 171.560283, 169.094363 ] }, { "date": "2024-01-05", "close": 181.416733, "volume": 596800, "typical_volume": 1310720.0, "trend": 167.189305, "fair_value": 136.255523, "relative_strength": 7.394274, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 67.389968, "energy": 54.959981, "activity_lines": [ 180.491427, 179.185833, 172.861988, 170.071411 ] }, { "date": "2024-01-12", "close": 183.92659, "volume": 1148100, "typical_volume": 1302180.0, "trend": 167.966881, "fair_value": 136.844796, "relative_strength": 8.206768, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 72.814731, "energy": 59.372368, "activity_lines": [ 181.803594, 180.458755, 174.306314, 171.151236 ] }, { "date": "2024-01-19", "close": 191.607117, "volume": 1008900, "typical_volume": 1282750.0, "trend": 168.853795, "fair_value": 137.474356, "relative_strength": 12.641298, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 85.458756, "energy": 80.629959, "activity_lines": [ 185.504211, 182.762246, 176.378143, 172.676412 ] }, { "date": "2024-01-26", "close": 189.531265, "volume": 1197000, "typical_volume": 1290425.0, "trend": 169.587533, "fair_value": 138.087435, "relative_strength": 9.771413, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 75.622584, "energy": 81.983432, "activity_lines": [ 187.432823, 184.29114, 178.124569, 174.010443 ] }, { "date": "2024-02-02", "close": 191.720367, "volume": 1034600, "typical_volume": 1257975.0, "trend": 170.597169, "fair_value": 138.695729, "relative_strength": 10.760488, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 78.044832, "energy": 88.408754, "activity_lines": [ 189.387877, 186.003437, 179.962202, 175.438368 ] }, { "date": "2024-02-09", "close": 201.297348, "volume": 1289100, "typical_volume": 1265220.0, "trend": 171.82988, "fair_value": 139.379036, "relative_strength": 16.079987, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 91.658948, "energy": 95.105474, "activity_lines": [ 193.940188, 189.216139, 182.585387, 177.419024 ] }, { "date": "2024-02-16", "close": 204.052551, "volume": 1500400, "typical_volume": 1273540.0, "trend": 173.199701, "fair_value": 140.089587, "relative_strength": 15.748756, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 88.538921, "energy": 94.028738, "activity_lines": [ 198.085526, 192.534183, 185.270088, 179.497906 ] }, { "date": "2024-02-23", "close": 202.450668, "volume": 1241200, "typical_volume": 1286685.0, "trend": 174.411228, "fair_value": 140.748367, "relative_strength": 13.517417, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 76.97029, "energy": 89.412201, "activity_lines": [ 200.355172, 195.148213, 187.57439, 181.385065 ] }, { "date": "2024-03-01", "close": 204.400955, "volume": 1645400, "typical_volume": 1332555.0, "trend": 175.727726, "fair_value": 141.424682, "relative_strength": 13.345838, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 76.299559, "energy": 87.530561, "activity_lines": [ 202.552011, 197.625126, 189.865264, 183.319886 ] }, { "date": "2024-03-08", "close": 200.292114, "volume": 958900, "typical_volume": 1311595.0, "trend": 176.85575, "fair_value": 142.0746, "relative_strength": 9.771844, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 67.568588, "energy": 66.767452, "activity_lines": [ 202.387923, 198.892822, 191.565092, 184.904686 ] }, { "date": "2024-03-15", "close": 201.797409, "volume": 2008700, "typical_volume": 1362850.0, "trend": 178.209987, "fair_value": 142.734284, "relative_strength": 9.777673, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 65.429902, "energy": 64.455481, "activity_lines": [ 202.15415, 200.116065, 193.201753, 186.513825 ] }, { "date": "2024-03-22", "close": 201.324036, "volume": 1131900, "typical_volume": 1332695.0, "trend": 179.517736, "fair_value": 143.379625, "relative_strength": 8.650958, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 62.912648, "energy": 61.302576, "activity_lines": [ 201.729249, 200.882683, 194.564369, 188.005054 ] }, { "date": "2024-03-29", "close": 199.572586, "volume": 1311000, "typical_volume": 1314210.0, "trend": 180.677168, "fair_value": 144.006838, "relative_strength": 6.614989, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 50.136419, "energy": 49.808944, "activity_lines": [ 200.902432, 201.014538, 195.581505, 189.298915 ] }, { "date": "2024-04-05", "close": 195.416397, "volume": 1037300, "typical_volume": 1279015.0, "trend": 181.694299, "fair_value": 144.59813, "relative_strength": 3.791726, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 44.851129, "energy": 38.93438, "activity_lines": [ 198.882091, 200.245895, 196.060863, 190.249833 ] }, { "date": "2024-04-12", "close": 198.711044, "volume": 986100, "typical_volume": 1264220.0, "trend": 182.813104, "fair_value": 145.200335, "relative_strength": 7.007351, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 40.636845, "energy": 31.68843, "activity_lines": [ 198.558936, 199.969277, 196.769764, 191.347688 ] }, { "date": "2024-04-19", "close": 195.662537, "volume": 1031500, "typical_volume": 1206530.0, "trend": 184.031473, "fair_value": 145.789494, "relative_strength": 5.60749, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 36.114188, "energy": 23.007698, "activity_lines": [ 197.325017, 199.011282, 197.091958, 192.176683 ] }, { "date": "2024-04-26", "close": 199.828201, "volume": 925200, "typical_volume": 1192870.0, "trend": 185.485528, "fair_value": 146.409415, "relative_strength": 6.812312, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 39.938371, "energy": 23.116906, "activity_lines": [ 197.888644, 198.913131, 197.734104, 193.195827 ] }, { "date": "2024-05-03", "close": 213.319214, "volume": 1879200, "typical_volume": 1159175.0, "trend": 187.242002, "fair_value": 147.092331, "relative_strength": 13.514767, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 78.66696, "energy": 49.696146, "activity_lines": [ 203.048998, 201.344699, 199.573119, 194.991549 ] }, { "date": "2024-05-10", "close": 217.257675, "volume": 1217700, "typical_volume": 1177070.0, "trend": 189.068651, "fair_value": 147.81905, "relative_strength": 13.209765, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 84.85853, "energy": 77.036488, "activity_lines": [ 208.60573, 204.29474, 201.606689, 196.928044 ] }, { "date": "2024-05-17", "close": 221.036209, "volume": 1431900, "typical_volume": 1229045.0, "trend": 191.205824, "fair_value": 148.568988, "relative_strength": 13.86756, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 87.442924, "energy": 94.143496, "activity_lines": [ 213.965888, 207.698028, 203.817856, 198.990467 ] }, { "date": "2024-05-24", "close": 228.302139, "volume": 991800, "typical_volume": 1248795.0, "trend": 193.692052, "fair_value": 149.343371, "relative_strength": 17.778304, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 90.987674, "energy": 96.449684, "activity_lines": [ 220.259679, 212.04523, 206.538912, 201.383778 ] }, { "date": "2024-05-31", "close": 222.764847, "volume": 1831200, "typical_volume": 1282950.0, "trend": 195.657462, "fair_value": 150.07859, "relative_strength": 14.622372, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 70.181925, "energy": 88.821374, "activity_lines": [ 222.531732, 214.903747, 208.509343, 203.259442 ] }, { "date": "2024-06-07", "close": 223.249237, "volume": 1697700, "typical_volume": 1317390.0, "trend": 197.440344, "fair_value": 150.816682, "relative_strength": 15.626411, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 67.801983, "energy": 86.444854, "activity_lines": [ 223.436139, 217.460502, 210.340963, 205.039556 ] }, { "date": "2024-06-14", "close": 218.120346, "volume": 2161700, "typical_volume": 1365625.0, "trend": 198.786774, "fair_value": 151.512344, "relative_strength": 14.379241, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 65.405224, "energy": 63.486309, "activity_lines": [ 221.968914, 218.654246, 211.533439, 206.37375 ] }, { "date": "2024-06-21", "close": 214.891068, "volume": 4132500, "typical_volume": 1520520.0, "trend": 200.000714, "fair_value": 152.185966, "relative_strength": 12.763746, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 60.156773, "energy": 50.155264, "activity_lines": [ 219.367751, 218.848051, 212.282227, 207.412737 ] }, { "date": "2024-06-28", "close": 219.03215, "volume": 2344300, "typical_volume": 1573280.0, "trend": 201.31715, "fair_value": 152.872098, "relative_strength": 12.833235, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 46.437088, "energy": 38.028178, "activity_lines": [ 218.556625, 219.500596, 213.315068, 208.640571 ] }, { "date": "2024-07-05", "close": 219.070145, "volume": 1488300, "typical_volume": 1572675.0, "trend": 202.574465, "fair_value": 153.540769, "relative_strength": 11.482922, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 42.576058, "energy": 31.823654, "activity_lines": [ 218.376164, 219.735149, 214.267075, 209.785926 ] }, { "date": "2024-07-12", "close": 213.922226, "volume": 2426100, "typical_volume": 1631920.0, "trend": 203.858329, "fair_value": 154.160541, "relative_strength": 5.610595, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 37.549962, "energy": 24.256977, "activity_lines": [ 216.726043, 218.683862, 214.657292, 210.518039 ] }, { "date": "2024-07-19", "close": 212.222107, "volume": 2476700, "typical_volume": 1673485.0, "trend": 204.96632, "fair_value": 154.755903, "relative_strength": 4.373707, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 34.174952, "energy": 19.492704, "activity_lines": [ 215.131016, 217.312499, 214.830966, 211.057638 ] }, { "date": "2024-07-26", "close": 212.421555, "volume": 1290000, "typical_volume": 1690040.0, "trend": 205.953895, "fair_value": 155.347651, "relative_strength": 3.631788, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 29.436932, "energy": 18.843748, "activity_lines": [ 213.995688, 216.068955, 214.986392, 211.538621 ] }, { "date": "2024-08-02", "close": 207.283188, "volume": 2109800, "typical_volume": 1695095.0, "trend": 206.81611, "fair_value": 155.856841, "relative_strength": 3.53578, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -2.504444, "energy": 15.640215, "activity_lines": [ 211.312205, 214.047792, 214.59469, 211.624382 ] }, { "date": "2024-08-09", "close": 210.588501, "volume": 1801300, "typical_volume": 1728565.0, "trend": 207.70484, "fair_value": 156.371145, "relative_strength": 4.50602, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 7.981291, "energy": 18.453652, "activity_lines": [ 210.513757, 213.009758, 214.491657, 211.867762 ] }, { "date": "2024-08-16", "close": 213.392288, "volume": 1328000, "typical_volume": 1729415.0, "trend": 208.431012, "fair_value": 156.883941, "relative_strength": 2.238602, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 9.411375, "energy": 15.089154, "activity_lines": [ 211.215348, 212.702892, 214.611535, 212.234694 ] }, { "date": "2024-08-23", "close": 214.145096, "volume": 1664300, "typical_volume": 1760765.0, "trend": 209.251473, "fair_value": 157.40624, "relative_strength": 1.358685, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 11.355994, "energy": 11.803409, "activity_lines": [ 212.203204, 212.712117, 214.737301, 212.603345 ] }, { "date": "2024-08-30", "close": 219.948242, "volume": 1528300, "typical_volume": 1787875.0, "trend": 210.192403, "fair_value": 157.946451, "relative_strength": 3.530119, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 45.815586, "energy": 25.331148, "activity_lines": [ 214.997243, 213.848737, 215.326563, 213.293459 ] }, { "date": "2024-09-06", "close": 214.897873, "volume": 1031000, "typical_volume": 1787850.0, "trend": 210.645753, "fair_value": 158.44517, "relative_strength": 3.394426, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 32.457133, "energy": 23.564386, "activity_lines": [ 215.606047, 213.97516, 215.333709, 213.597037 ] }, { "date": "2024-09-13", "close": 223.740768, "volume": 1358100, "typical_volume": 1809495.0, "trend": 211.302027, "fair_value": 159.006712, "relative_strength": 3.7284, "stage": 2, "regime": "deceleration", "modifier": "Re-acceleration watch", "gate": "up", "direction": 57.688675, "energy": 46.149511, "activity_lines": [ 218.654836, 215.78455, 216.091437, 214.441877 ] }, { "date": "2024-09-20", "close": 219.281219, "volume": 3157100, "typical_volume": 1873390.0, "trend": 211.863046, "fair_value": 159.561349, "relative_strength": 0.147999, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 51.324669, "energy": 48.052551, "activity_lines": [ 219.340291, 216.698192, 216.310578, 214.956664 ] }, { "date": "2024-09-27", "close": 218.795242, "volume": 1023900, "typical_volume": 1863700.0, "trend": 212.342855, "fair_value": 160.149925, "relative_strength": -0.684029, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 50.547209, "energy": 45.916325, "activity_lines": [ 219.471159, 217.426039, 216.455044, 215.403902 ] }, { "date": "2024-10-04", "close": 214.612015, "volume": 1117700, "typical_volume": 1847990.0, "trend": 212.820185, "fair_value": 160.696081, "relative_strength": -3.521576, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 42.618301, "energy": 28.070668, "activity_lines": [ 217.897607, 217.273788, 216.193787, 215.550299 ] }, { "date": "2024-10-11", "close": 219.357437, "volume": 1045400, "typical_volume": 1850670.0, "trend": 213.40552, "fair_value": 161.259857, "relative_strength": -2.756334, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 47.753422, "energy": 23.508524, "activity_lines": [ 218.261612, 217.944514, 216.415065, 215.972058 ] }, { "date": "2024-10-18", "close": 221.79686, "volume": 1142900, "typical_volume": 1816255.0, "trend": 214.087947, "fair_value": 161.822087, "relative_strength": -3.213103, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 55.559208, "energy": 27.294802, "activity_lines": [ 219.141453, 218.83924, 216.911263, 216.513434 ] }, { "date": "2024-10-25", "close": 218.233017, "volume": 955400, "typical_volume": 1779140.0, "trend": 214.709961, "fair_value": 162.350953, "relative_strength": -3.515659, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 43.994898, "energy": 21.511563, "activity_lines": [ 218.962941, 218.882206, 217.072658, 216.780858 ] }, { "date": "2024-11-01", "close": 219.281219, "volume": 1316600, "typical_volume": 1736885.0, "trend": 215.505456, "fair_value": 162.897934, "relative_strength": -2.376858, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 47.427263, "energy": 26.357623, "activity_lines": [ 219.203709, 219.027741, 217.357767, 217.075778 ] }, { "date": "2024-11-08", "close": 223.00705, "volume": 1653000, "typical_volume": 1612910.0, "trend": 216.315322, "fair_value": 163.448577, "relative_strength": -2.814506, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 58.326826, "energy": 38.221494, "activity_lines": [ 220.654022, 219.757316, 217.99219, 217.559752 ] }, { "date": "2024-11-15", "close": 217.013321, "volume": 1335300, "typical_volume": 1562460.0, "trend": 217.027015, "fair_value": 163.92484, "relative_strength": -5.907795, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 43.799393, "energy": 21.355609, "activity_lines": [ 219.546757, 219.341507, 218.017134, 217.604784 ] }, { "date": "2024-11-22", "close": 215.364609, "volume": 1521000, "typical_volume": 1564095.0, "trend": 217.544895, "fair_value": 164.40062, "relative_strength": -8.575788, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -4.283379, "energy": 3.273716, "activity_lines": [ 218.046196, 218.587469, 217.894671, 217.497532 ] }, { "date": "2024-11-29", "close": 218.414612, "volume": 2000100, "typical_volume": 1542795.0, "trend": 217.714742, "fair_value": 164.905568, "relative_strength": -7.967272, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 0.94808, "energy": 2.214747, "activity_lines": [ 217.991119, 218.540272, 218.08033, 217.553643 ] }, { "date": "2024-12-06", "close": 231.044876, "volume": 1339200, "typical_volume": 1485920.0, "trend": 218.174315, "fair_value": 165.486202, "relative_strength": -2.826064, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 68.800432, "energy": 36.312123, "activity_lines": [ 222.134023, 220.805242, 219.447479, 218.413652 ] }, { "date": "2024-12-13", "close": 228.903198, "volume": 1411600, "typical_volume": 1492000.0, "trend": 218.436548, "fair_value": 166.085125, "relative_strength": -2.240623, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 65.671033, "energy": 59.417565, "activity_lines": [ 224.778791, 222.458096, 220.521027, 219.105837 ] }, { "date": "2024-12-20", "close": 222.92746, "volume": 2047800, "typical_volume": 1488900.0, "trend": 218.257392, "fair_value": 166.635539, "relative_strength": -2.280608, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 52.076547, "energy": 59.142266, "activity_lines": [ 225.03857, 222.764612, 220.946972, 219.395574 ] }, { "date": "2024-12-27", "close": 223.472443, "volume": 338900, "typical_volume": 1415780.0, "trend": 218.280979, "fair_value": 167.181001, "relative_strength": -2.878084, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 53.824134, "energy": 60.630443, "activity_lines": [ 225.085734, 223.105307, 221.350324, 219.732029 ] }, { "date": "2025-01-03", "close": 224.074799, "volume": 704200, "typical_volume": 1384590.0, "trend": 218.308498, "fair_value": 167.781343, "relative_strength": -3.746807, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 51.632334, "energy": 43.156052, "activity_lines": [ 224.793161, 223.525056, 221.749692, 220.105823 ] }, { "date": "2025-01-10", "close": 214.064285, "volume": 1026700, "typical_volume": 1352710.0, "trend": 218.173296, "fair_value": 168.346306, "relative_strength": -6.888515, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 11.01016, "energy": 10.221782, "activity_lines": [ 220.786405, 222.018497, 221.144808, 219.832003 ] }, { "date": "2025-01-17", "close": 220.393753, "volume": 1571200, "typical_volume": 1354855.0, "trend": 218.356718, "fair_value": 168.977469, "relative_strength": -5.210149, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 25.268145, "energy": 16.254709, "activity_lines": [ 220.02151, 221.757604, 221.143115, 219.975259 ] }, { "date": "2025-01-24", "close": 223.893127, "volume": 1135800, "typical_volume": 1360095.0, "trend": 218.518751, "fair_value": 169.627605, "relative_strength": -5.184196, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 31.997319, "energy": 17.599228, "activity_lines": [ 220.99037, 222.180475, 221.472574, 220.332446 ] }, { "date": "2025-01-31", "close": 233.511642, "volume": 1289400, "typical_volume": 1356660.0, "trend": 219.000134, "fair_value": 170.335585, "relative_strength": -1.371866, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 64.766286, "energy": 29.659518, "activity_lines": [ 225.101023, 224.22708, 222.675248, 221.29973 ] }, { "date": "2025-02-07", "close": 241.237045, "volume": 2754300, "typical_volume": 1336520.0, "trend": 219.910628, "fair_value": 171.112732, "relative_strength": 2.273475, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 78.434624, "energy": 70.170271, "activity_lines": [ 231.117531, 227.348357, 224.567147, 222.734369 ] }, { "date": "2025-02-14", "close": 235.433426, "volume": 1698300, "typical_volume": 1370240.0, "trend": 220.684339, "fair_value": 171.872497, "relative_strength": -0.27012, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 64.036352, "energy": 71.956865, "activity_lines": [ 234.05535, 228.999478, 225.801768, 223.73584 ] }, { "date": "2025-02-21", "close": 240.412582, "volume": 1861000, "typical_volume": 1407405.0, "trend": 221.617373, "fair_value": 172.657036, "relative_strength": 3.177916, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 72.736776, "energy": 78.231569, "activity_lines": [ 237.228277, 231.476108, 227.431366, 225.00863 ] }, { "date": "2025-02-28", "close": 248.135956, "volume": 2850100, "typical_volume": 1497640.0, "trend": 222.979132, "fair_value": 173.451559, "relative_strength": 5.395875, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 82.354063, "energy": 84.489033, "activity_lines": [ 241.641075, 235.147726, 229.673663, 226.719506 ] }, { "date": "2025-03-07", "close": 244.941086, "volume": 2060600, "typical_volume": 1543525.0, "trend": 224.124218, "fair_value": 174.244275, "relative_strength": 6.555855, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 70.903891, "energy": 78.622572, "activity_lines": [ 243.372726, 237.780122, 231.474646, 228.136406 ] }, { "date": "2025-03-14", "close": 237.323242, "volume": 1614300, "typical_volume": 1576470.0, "trend": 224.921917, "fair_value": 174.959177, "relative_strength": 4.012986, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 63.548686, "energy": 58.879248, "activity_lines": [ 241.803134, 238.637117, 232.439909, 228.987956 ] }, { "date": "2025-03-21", "close": 233.830933, "volume": 1846800, "typical_volume": 1602980.0, "trend": 225.578111, "fair_value": 175.680379, "relative_strength": 0.735409, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 58.950282, "energy": 43.592275, "activity_lines": [ 239.330359, 238.618266, 232.981666, 229.562731 ] }, { "date": "2025-03-28", "close": 234.771164, "volume": 1073800, "typical_volume": 1574020.0, "trend": 226.072209, "fair_value": 176.389231, "relative_strength": 1.894481, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 42.739363, "energy": 27.468237, "activity_lines": [ 237.277827, 238.410972, 233.543684, 230.155832 ] }, { "date": "2025-04-04", "close": 226.635269, "volume": 1930700, "typical_volume": 1603790.0, "trend": 226.463455, "fair_value": 177.036563, "relative_strength": 4.788145, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 22.330799, "energy": 18.987358, "activity_lines": [ 232.889425, 236.463017, 233.274836, 230.192158 ] }, { "date": "2025-04-11", "close": 230.194702, "volume": 2536300, "typical_volume": 1654555.0, "trend": 226.678586, "fair_value": 177.721144, "relative_strength": 4.506981, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 23.288848, "energy": 20.343277, "activity_lines": [ 231.120879, 235.112375, 233.299162, 230.432884 ] }, { "date": "2025-04-18", "close": 241.659851, "volume": 1606200, "typical_volume": 1634860.0, "trend": 227.424541, "fair_value": 178.503134, "relative_strength": 6.74499, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 40.032481, "energy": 21.079493, "activity_lines": [ 234.157142, 235.906613, 234.344788, 231.399417 ] }, { "date": "2025-04-25", "close": 241.515915, "volume": 1528800, "typical_volume": 1644340.0, "trend": 228.181896, "fair_value": 179.294746, "relative_strength": 4.301051, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 51.672625, "energy": 23.084674, "activity_lines": [ 236.856319, 236.666994, 235.266014, 232.308538 ] }, { "date": "2025-05-02", "close": 244.307861, "volume": 1825400, "typical_volume": 1665030.0, "trend": 229.171758, "fair_value": 180.144427, "relative_strength": 4.145133, "stage": 2, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "up", "direction": 58.087122, "energy": 36.428085, "activity_lines": [ 239.973813, 237.824411, 236.403278, 233.348923 ] }, { "date": "2025-05-09", "close": 250.534546, "volume": 1523700, "typical_volume": 1638825.0, "trend": 230.210995, "fair_value": 181.028663, "relative_strength": 5.395042, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 69.456644, "energy": 66.513904, "activity_lines": [ 244.531088, 240.043129, 238.060203, 234.727167 ] }, { "date": "2025-05-16", "close": 257.520416, "volume": 1583700, "typical_volume": 1701065.0, "trend": 231.40178, "fair_value": 181.948138, "relative_strength": 5.755338, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 77.762693, "energy": 77.019151, "activity_lines": [ 249.823702, 243.488394, 240.250987, 236.489065 ] }, { "date": "2025-05-23", "close": 257.732178, "volume": 1060700, "typical_volume": 1718890.0, "trend": 232.718419, "fair_value": 182.857063, "relative_strength": 6.276884, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 76.276007, "energy": 80.756122, "activity_lines": [ 253.365189, 246.743446, 242.299806, 238.1878 ] }, { "date": "2025-05-30", "close": 262.438904, "volume": 1994300, "typical_volume": 1767270.0, "trend": 234.157008, "fair_value": 183.79533, "relative_strength": 6.992626, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 78.759404, "energy": 84.403684, "activity_lines": [ 257.404096, 250.483195, 244.636612, 240.105251 ] }, { "date": "2025-06-06", "close": 257.029572, "volume": 1429600, "typical_volume": 1760190.0, "trend": 235.291092, "fair_value": 184.704426, "relative_strength": 3.869605, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 65.755671, "energy": 77.984936, "activity_lines": [ 258.245026, 252.719285, 246.227887, 241.5809 ] }, { "date": "2025-06-13", "close": 255.046783, "volume": 1787600, "typical_volume": 1792780.0, "trend": 236.558875, "fair_value": 185.57939, "relative_strength": 2.872089, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 63.284532, "energy": 65.926465, "activity_lines": [ 257.576912, 254.190169, 247.455869, 242.855461 ] }, { "date": "2025-06-20", "close": 256.201782, "volume": 1639000, "typical_volume": 1810260.0, "trend": 237.920114, "fair_value": 186.427613, "relative_strength": 3.428395, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 60.354336, "energy": 50.199389, "activity_lines": [ 256.992983, 255.354479, 248.6455, 244.122745 ] }, { "date": "2025-06-27", "close": 260.985443, "volume": 1019700, "typical_volume": 1723530.0, "trend": 239.339141, "fair_value": 187.3065, "relative_strength": 4.641613, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 65.985843, "energy": 48.25343, "activity_lines": [ 258.091516, 256.915691, 250.18267, 245.610831 ] }, { "date": "2025-07-04", "close": 261.668854, "volume": 836300, "typical_volume": 1680430.0, "trend": 240.359941, "fair_value": 188.167398, "relative_strength": 3.579792, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 65.808517, "energy": 49.154494, "activity_lines": [ 259.200968, 258.249784, 251.690887, 247.051458 ] }, { "date": "2025-07-11", "close": 262.236755, "volume": 1408600, "typical_volume": 1657810.0, "trend": 241.471059, "fair_value": 189.027913, "relative_strength": 3.853041, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 65.273253, "energy": 51.967518, "activity_lines": [ 260.551058, 259.320715, 253.128258, 248.462865 ] }, { "date": "2025-07-18", "close": 276.395325, "volume": 3162200, "typical_volume": 1673415.0, "trend": 243.253321, "fair_value": 189.970608, "relative_strength": 8.124749, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 85.687732, "energy": 78.549298, "activity_lines": [ 266.273525, 262.639952, 255.810141, 250.716044 ] }, { "date": "2025-07-25", "close": 268.406433, "volume": 1606200, "typical_volume": 1650695.0, "trend": 244.751121, "fair_value": 190.840255, "relative_strength": 4.213895, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 66.099316, "energy": 70.613696, "activity_lines": [ 267.909792, 264.036467, 257.596608, 252.338825 ] }, { "date": "2025-08-01", "close": 267.049316, "volume": 1600400, "typical_volume": 1650000.0, "trend": 246.183605, "fair_value": 191.67919, "relative_strength": 5.385206, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 64.744569, "energy": 67.00186, "activity_lines": [ 268.280043, 264.988306, 259.142086, 253.777418 ] }, { "date": "2025-08-08", "close": 238.116165, "volume": 2991300, "typical_volume": 1707225.0, "trend": 246.985334, "fair_value": 192.324962, "relative_strength": -8.370188, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 15.718626, "energy": 17.659756, "activity_lines": [ 258.601653, 260.510169, 257.790473, 253.256938 ] }, { "date": "2025-08-15", "close": 227.798019, "volume": 2691400, "typical_volume": 1788105.0, "trend": 247.232143, "fair_value": 192.89237, "relative_strength": -12.605694, "stage": 3, "regime": "rotation_down", "modifier": "Structural failure", "gate": "mixed", "direction": -37.711533, "energy": 35.763347, "activity_lines": [ 247.05406, 254.598237, 255.435774, 252.019047 ] }, { "date": "2025-08-22", "close": 238.42688, "volume": 2542200, "typical_volume": 1818680.0, "trend": 247.716601, "fair_value": 193.563732, "relative_strength": -9.763316, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -26.498633, "energy": 40.127201, "activity_lines": [ 241.345336, 251.150309, 254.126552, 251.450965 ] }, { "date": "2025-08-29", "close": 235.577652, "volume": 1958500, "typical_volume": 1789790.0, "trend": 247.785469, "fair_value": 194.221404, "relative_strength": -11.349316, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -29.726613, "energy": 45.602132, "activity_lines": [ 237.218099, 247.486519, 252.489825, 250.667807 ] }, { "date": "2025-09-05", "close": 233.665283, "volume": 1471900, "typical_volume": 1783075.0, "trend": 247.533076, "fair_value": 194.844244, "relative_strength": -13.29122, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -31.316297, "energy": 64.097867, "activity_lines": [ 234.641991, 243.850009, 250.645335, 249.756828 ] }, { "date": "2025-09-12", "close": 231.318298, "volume": 1900400, "typical_volume": 1801655.0, "trend": 247.395905, "fair_value": 195.454534, "relative_strength": -14.563393, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -43.241648, "energy": 63.393315, "activity_lines": [ 233.509157, 240.283506, 248.615391, 248.710713 ] }, { "date": "2025-09-19", "close": 216.347809, "volume": 4369400, "typical_volume": 1928855.0, "trend": 246.593746, "fair_value": 195.997907, "relative_strength": -21.078361, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -58.600345, "energy": 67.942381, "activity_lines": [ 227.839351, 234.546923, 245.208247, 246.70761 ] }, { "date": "2025-09-26", "close": 211.315796, "volume": 2446400, "typical_volume": 1974990.0, "trend": 245.366408, "fair_value": 196.510153, "relative_strength": -22.566929, "stage": 4, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -84.713496, "energy": 83.164243, "activity_lines": [ 221.255555, 228.729774, 241.455007, 244.431613 ] }, { "date": "2025-10-03", "close": 206.18718, "volume": 3228200, "typical_volume": 2057215.0, "trend": 244.074611, "fair_value": 196.999206, "relative_strength": -25.878802, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -83.320443, "energy": 88.677252, "activity_lines": [ 214.769626, 223.163413, 237.400083, 241.903921 ] }, { "date": "2025-10-10", "close": 204.786728, "volume": 2487100, "typical_volume": 2128535.0, "trend": 242.99006, "fair_value": 197.49544, "relative_strength": -24.51675, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -78.02862, "energy": 89.94189, "activity_lines": [ 209.776244, 218.473683, 233.456226, 239.369219 ] }, { "date": "2025-10-17", "close": 214.589981, "volume": 2127500, "typical_volume": 2135195.0, "trend": 242.348695, "fair_value": 198.040495, "relative_strength": -21.278881, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -67.282609, "energy": 84.976791, "activity_lines": [ 209.975851, 216.698411, 230.698134, 237.536956 ] }, { "date": "2025-10-24", "close": 219.77655, "volume": 1611300, "typical_volume": 2144280.0, "trend": 241.848875, "fair_value": 198.582087, "relative_strength": -19.739514, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -64.434296, "energy": 65.917254, "activity_lines": [ 213.019534, 216.293899, 228.661853, 236.080688 ] }, { "date": "2025-10-31", "close": 207.500717, "volume": 2180900, "typical_volume": 2163945.0, "trend": 241.211056, "fair_value": 199.071778, "relative_strength": -23.635722, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -70.666852, "energy": 57.141082, "activity_lines": [ 211.742691, 213.803263, 225.63384, 233.864678 ] }, { "date": "2025-11-07", "close": 186.397171, "volume": 3308300, "typical_volume": 2247410.0, "trend": 239.751139, "fair_value": 199.400944, "relative_strength": -30.18805, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -88.694261, "energy": 69.487643, "activity_lines": [ 203.685671, 208.037913, 220.822375, 230.328298 ] }, { "date": "2025-11-14", "close": 191.284317, "volume": 2432700, "typical_volume": 2318060.0, "trend": 238.071954, "fair_value": 199.720845, "relative_strength": -28.967389, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -79.578872, "energy": 76.362636, "activity_lines": [ 198.577033, 204.055324, 216.808756, 227.201407 ] }, { "date": "2025-11-21", "close": 184.774551, "volume": 2034800, "typical_volume": 2377985.0, "trend": 236.180576, "fair_value": 199.977665, "relative_strength": -30.65648, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -80.803979, "energy": 90.210284, "activity_lines": [ 192.198635, 199.659706, 212.50707, 223.762865 ] }, { "date": "2025-11-28", "close": 183.872406, "volume": 2615800, "typical_volume": 2438345.0, "trend": 234.16606, "fair_value": 200.209915, "relative_strength": -33.29646, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -75.658373, "energy": 90.14992, "activity_lines": [ 187.507216, 195.94631, 208.485628, 220.388144 ] }, { "date": "2025-12-05", "close": 179.128906, "volume": 1854200, "typical_volume": 2372945.0, "trend": 231.785872, "fair_value": 200.422254, "relative_strength": -34.399132, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -78.744831, "energy": 89.808494, "activity_lines": [ 183.628241, 191.960922, 204.385587, 216.83736 ] }, { "date": "2025-12-12", "close": 174.50177, "volume": 2240000, "typical_volume": 2404635.0, "trend": 229.018584, "fair_value": 200.611911, "relative_strength": -36.034752, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -80.820116, "energy": 87.416313, "activity_lines": [ 180.098341, 187.719453, 200.308041, 213.141611 ] }, { "date": "2025-12-19", "close": 176.567963, "volume": 2462500, "typical_volume": 2447740.0, "trend": 226.31311, "fair_value": 200.825131, "relative_strength": -35.238833, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -72.803744, "energy": 83.279196, "activity_lines": [ 178.050198, 184.429754, 196.87444, 209.7577 ] }, { "date": "2025-12-26", "close": 176.315735, "volume": 583400, "typical_volume": 2327345.0, "trend": 223.442338, "fair_value": 201.034109, "relative_strength": -35.317014, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -70.540423, "energy": 74.382734, "activity_lines": [ 176.89907, 181.607263, 193.847681, 206.532063 ] }, { "date": "2026-01-02", "close": 168.458359, "volume": 1378000, "typical_volume": 2261675.0, "trend": 220.489964, "fair_value": 201.178227, "relative_strength": -37.458141, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -81.429428, "energy": 73.839758, "activity_lines": [ 173.692738, 178.052054, 190.366888, 202.98471 ] }, { "date": "2026-01-09", "close": 174.550278, "volume": 1784100, "typical_volume": 2223770.0, "trend": 217.806747, "fair_value": 201.356146, "relative_strength": -36.167857, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -66.977348, "energy": 65.309215, "activity_lines": [ 173.544648, 176.537525, 187.748847, 200.020859 ] }, { "date": "2026-01-16", "close": 167.32341, "volume": 2202900, "typical_volume": 2235990.0, "trend": 214.844135, "fair_value": 201.487203, "relative_strength": -39.08194, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -76.833063, "energy": 68.770969, "activity_lines": [ 171.292845, 174.308118, 184.746708, 196.763869 ] }, { "date": "2026-01-23", "close": 164.034958, "volume": 2706100, "typical_volume": 2297700.0, "trend": 211.612452, "fair_value": 201.600997, "relative_strength": -39.933432, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -77.802968, "energy": 69.32262, "activity_lines": [ 168.423448, 171.827607, 181.756403, 193.485858 ] }, { "date": "2026-01-30", "close": 145.943573, "volume": 3500100, "typical_volume": 2377685.0, "trend": 207.754943, "fair_value": 201.577051, "relative_strength": -43.914561, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -92.636345, "energy": 75.509555, "activity_lines": [ 160.359123, 166.553196, 177.374682, 189.249156 ] }, { "date": "2026-02-06", "close": 116.580254, "volume": 9494300, "typical_volume": 2633930.0, "trend": 202.899726, "fair_value": 201.365117, "relative_strength": -55.333338, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -97.703836, "energy": 98.37322, "activity_lines": [ 144.531836, 156.646018, 170.603, 183.366918 ] }, { "date": "2026-02-13", "close": 114.902069, "volume": 5607200, "typical_volume": 2791970.0, "trend": 197.516618, "fair_value": 201.111411, "relative_strength": -56.174118, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -94.378172, "energy": 97.898132, "activity_lines": [ 131.603694, 147.657208, 164.146576, 177.68965 ] }, { "date": "2026-02-20", "close": 111.415627, "volume": 3317300, "typical_volume": 2796425.0, "trend": 192.283591, "fair_value": 200.835324, "relative_strength": -57.797103, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -90.124897, "energy": 96.516391, "activity_lines": [ 121.489952, 139.202261, 157.817222, 172.134747 ] }, { "date": "2026-02-27", "close": 128.364029, "volume": 9372500, "typical_volume": 3140695.0, "trend": 187.660748, "fair_value": 200.671533, "relative_strength": -51.394643, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -68.582933, "energy": 88.362348, "activity_lines": [ 120.752863, 134.975862, 153.553294, 168.010905 ] }, { "date": "2026-03-06", "close": 148.019852, "volume": 5144000, "typical_volume": 3291520.0, "trend": 184.657537, "fair_value": 200.628113, "relative_strength": -41.024431, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -66.397834, "energy": 66.61936, "activity_lines": [ 128.945777, 135.199684, 151.525268, 165.453427 ] }, { "date": "2026-03-13", "close": 129.263245, "volume": 5019400, "typical_volume": 3461925.0, "trend": 181.373045, "fair_value": 200.434276, "relative_strength": -46.873416, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -66.677197, "energy": 61.80544, "activity_lines": [ 130.74807, 132.527685, 148.027898, 161.879602 ] }, { "date": "2026-03-20", "close": 125.148315, "volume": 4605200, "typical_volume": 3583140.0, "trend": 177.597093, "fair_value": 200.190947, "relative_strength": -45.80515, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -59.453469, "energy": 50.815195, "activity_lines": [ 130.333186, 129.820155, 144.569646, 158.2522 ] }, { "date": "2026-03-27", "close": 121.453697, "volume": 3021600, "typical_volume": 3568805.0, "trend": 173.792961, "fair_value": 199.916508, "relative_strength": -47.688495, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -60.284815, "energy": 48.873423, "activity_lines": [ 128.003681, 127.339094, 141.15168, 154.630046 ] }, { "date": "2026-04-03", "close": 122.743881, "volume": 2787300, "typical_volume": 3586535.0, "trend": 170.095581, "fair_value": 199.647107, "relative_strength": -48.132473, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -66.597975, "energy": 55.104512, "activity_lines": [ 125.435032, 125.926607, 138.165844, 151.336557 ] }, { "date": "2026-04-10", "close": 112.676498, "volume": 2817300, "typical_volume": 3625660.0, "trend": 166.140854, "fair_value": 199.329818, "relative_strength": -52.395277, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -75.146695, "energy": 60.346565, "activity_lines": [ 119.885265, 123.434433, 134.547592, 147.6321 ] }, { "date": "2026-04-17", "close": 124.571648, "volume": 3776200, "typical_volume": 3683680.0, "trend": 163.081649, "fair_value": 199.052072, "relative_strength": -47.451221, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -62.660453, "energy": 51.585402, "activity_lines": [ 120.656772, 123.709869, 132.405535, 144.950215 ] }, { "date": "2026-04-24", "close": 119.880051, "volume": 4024300, "typical_volume": 3792185.0, "trend": 160.033791, "fair_value": 198.753653, "relative_strength": -47.864602, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -61.476432, "energy": 47.784684, "activity_lines": [ 120.177187, 122.98699, 130.099045, 142.163015 ] }, { "date": "2026-05-01", "close": 125.285156, "volume": 2499400, "typical_volume": 3805155.0, "trend": 157.337056, "fair_value": 198.596415, "relative_strength": -44.539682, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -57.477148, "energy": 42.116103, "activity_lines": [ 121.85052, 123.156349, 128.589463, 139.921168 ] }, { "date": "2026-05-08", "close": 125.989853, "volume": 3505900, "typical_volume": 3857325.0, "trend": 154.710494, "fair_value": 198.400817, "relative_strength": -43.525711, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -43.902194, "energy": 31.324873, "activity_lines": [ 123.503322, 123.201661, 127.381361, 137.898768 ] }, { "date": "2026-05-15", "close": 113.206253, "volume": 4208100, "typical_volume": 4038560.0, "trend": 151.331036, "fair_value": 198.103689, "relative_strength": -47.883604, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -65.495637, "energy": 41.019404, "activity_lines": [ 120.678526, 120.965849, 125.19662, 135.221075 ] }, { "date": "2026-05-22", "close": 118.599998, "volume": 3397900, "typical_volume": 4139555.0, "trend": 147.958485, "fair_value": 197.847088, "relative_strength": -45.343917, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -54.424003, "energy": 35.58796, "activity_lines": [ 119.616328, 120.343692, 123.826092, 133.109395 ] }, { "date": "2026-05-29", "close": 119.540001, "volume": 4124000, "typical_volume": 4256550.0, "trend": 145.026461, "fair_value": 197.615871, "relative_strength": -44.260557, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -53.466683, "energy": 36.958219, "activity_lines": [ 119.265575, 120.086322, 122.782508, 131.275944 ] }, { "date": "2026-06-05", "close": 120.120003, "volume": 517900, "typical_volume": 4172300.0, "trend": 142.817222, "fair_value": 197.399254, "relative_strength": -42.289556, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -52.636627, "energy": 38.142029, "activity_lines": [ 119.130825, 120.036377, 122.056116, 129.669076 ] }, { "date": "2026-06-12", "close": 114.089996, "volume": 724300, "typical_volume": 4073210.0, "trend": 140.244078, "fair_value": 197.101117, "relative_strength": -44.895486, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -60.521852, "energy": 39.987529, "activity_lines": [ 117.330416, 118.914315, 120.980216, 127.815707 ] }, { "date": "2026-06-19", "close": 113.949997, "volume": 1368900, "typical_volume": 3966650.0, "trend": 137.883259, "fair_value": 196.773876, "relative_strength": -43.843723, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -60.341143, "energy": 41.30473, "activity_lines": [ 116.276665, 117.924143, 120.128815, 126.119314 ] }, { "date": "2026-06-26", "close": 119.040001, "volume": 961800, "typical_volume": 3540025.0, "trend": 135.722179, "fair_value": 196.463112, "relative_strength": -40.088246, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -52.333775, "energy": 34.615344, "activity_lines": [ 116.869999, 117.836271, 119.914528, 124.90362 ] }, { "date": "2026-07-03", "close": 124.879997, "volume": 142300, "typical_volume": 3266780.0, "trend": 133.913882, "fair_value": 196.228809, "relative_strength": -36.303677, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -34.621735, "energy": 22.351677, "activity_lines": [ 119.380665, 118.910792, 120.244717, 124.204125 ] }, { "date": "2026-07-10", "close": 126.669998, "volume": 2363700, "typical_volume": 3219100.0, "trend": 132.31949, "fair_value": 195.987488, "relative_strength": -34.103356, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -21.383971, "energy": 11.805835, "activity_lines": [ 122.131998, 120.21986, 120.697869, 123.736777 ] }, { "date": "2026-07-17", "close": 134.679993, "volume": 4201200, "typical_volume": 2960535.0, "trend": 130.923224, "fair_value": 195.80622, "relative_strength": -28.257718, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": 8.153015, "energy": 17.981796, "activity_lines": [ 127.116663, 122.960111, 121.841237, 123.889068 ] }, { "date": "2026-07-24", "close": 127.040001, "volume": 3140000, "typical_volume": 2860335.0, "trend": 129.2807, "fair_value": 195.555804, "relative_strength": -30.990504, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -4.173238, "energy": 18.693807, "activity_lines": [ 128.181998, 124.153271, 122.226912, 123.638537 ] }, { "date": "2026-07-31", "close": 137.520004, "volume": 5189900, "typical_volume": 2868860.0, "trend": 128.249421, "fair_value": 195.380252, "relative_strength": -23.299917, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 31.101569, "energy": 39.481224, "activity_lines": [ 131.868, 127.000363, 123.710585, 124.170105 ] }, { "date": "2026-08-07", "close": 142.029999, "volume": 4208400, "typical_volume": 2849020.0, "trend": 127.165412, "fair_value": 195.223705, "relative_strength": -21.920718, "stage": 1, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 44.815, "energy": 56.288837, "activity_lines": [ 135.825333, 130.323454, 125.584465, 125.059175 ] } ], "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." } } }