{ "ticker": { "uuid": "9eebf566-6d16-4135-aba8-752ff6392ff5", "symbol": "HLUN-B", "name": "H. Lundbeck A/S", "exchange": "CPH", "country": "DK", "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": "2026-10-02", "benchmark": "^OMXC25", "stage": 2, "stage_name": "Advancing", "phase": "2a", "phase_label": "Stage 2A \u00b7 Early advance", "transition": "stage_2_healthy", "transition_label": "Stage 2 trend intact", "confidence": 74.622, "architecture_regime": "upward_expansion", "architecture_regime_label": "Upward Expansion", "architecture_modifier": "Early expansion", "architecture_gate": "up", "architecture_direction": 52.7, "architecture_energy": 53.902, "architecture_maturity": 4.989, "architecture_confidence": 83.909, "architecture_tenure": "New", "architecture": { "interpretation": { "headline": "The weekly architecture is expanding upward.", "body": "Trend and Activity show sustained positive alignment with constructive price acceptance. Directional energy remains positive; cooling within this regime can indicate that it is maturing." }, "scores": { "balance": 30.95, "rotation_up": 60.6, "upward_expansion": 82.41, "deceleration": 49.01, "rotation_down": 13.79, "downward_expansion": 13.74 }, "activity_lines": [ 44.005333, 43.34109, 42.908762, 42.72659 ], "activity_state": "Moderate", "activity_direction": "Expanding", "rotation_direction": "Improving", "price_acceptance": 0.333333 }, "latest_close": 43.68, "trend_reference": 42.106817, "distance_from_trend": 0.037362, "trend_direction": "Improving", "fair_value": 38.158069, "distance_from_fair_value": 0.144712, "fair_value_direction": "Weakening", "relative_strength": 2.198646, "relative_strength_direction": "Improving", "price_momentum": 0.071113, "excess_performance": 0.007275, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.037362, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.020686, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.144712, "read": "Premium" }, { "label": "Fair Value direction", "positive": false, "value": -0.010925, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": true, "value": 0.021986, "read": "Leading" }, { "label": "Relative strength direction", "positive": true, "value": 0.05194, "read": "Improving" }, { "label": "Price momentum", "positive": true, "value": 0.071113, "read": "Positive" }, { "label": "Volume balance", "positive": true, "value": 1.255961, "read": "Demand-led" } ], "volume": { "latest": 3298652, "relative_activity": 1.759374, "balance": 1.255961, "dry_up": 1.888738, "accumulation_observations": 3, "distribution_observations": 2 }, "risk": { "range_context": 0.044484, "annualized_volatility": 0.237133, "from_high_reference": -0.05728, "from_low_reference": 0.27601 }, "levels": { "trend_reference": 42.106817, "fair_value_reference": 38.158069, "structural_low": 39.5, "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis." }, "outcomes": [ { "horizon": "Near term", "sample_count": 11, "median_return": 0.032274, "positive_rate": 0.727273, "directional_follow_through": 0.727273, "median_excess_return": 0.043163, "regime_survival": 0.636364, "best_return": 0.083208, "worst_return": -0.014525, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 4, "median_return": 0.019066, "positive_rate": 0.75, "directional_follow_through": 0.75, "median_excess_return": -0.001608, "regime_survival": 0.25, "best_return": 0.246767, "worst_return": -0.021608, "sufficient": false }, { "horizon": "Extended", "sample_count": 2, "median_return": 0.048232, "positive_rate": 0.5, "directional_follow_through": 0.5, "median_excess_return": 0.078375, "regime_survival": 0.0, "best_return": 0.219828, "worst_return": -0.123364, "sufficient": false }, { "horizon": "Full cycle", "sample_count": 2, "median_return": 0.047824, "positive_rate": 1.0, "directional_follow_through": 1.0, "median_excess_return": 0.041608, "regime_survival": 0.0, "best_return": 0.070239, "worst_return": 0.025408, "sufficient": false } ], "ledger": [ { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2024-11-08", "end": "2024-12-20", "tenure": "Developing", "return": -0.057971, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2024-12-27", "end": "2025-01-24", "tenure": "Developing", "return": -0.010521, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-01-31", "end": "2025-06-13", "tenure": "Established", "return": -0.088113, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "violet", "start": "2025-06-20", "end": "2025-06-27", "tenure": "New", "return": -0.034054, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-07-04", "end": "2025-08-22", "tenure": "Developing", "return": 0.124647, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "violet", "start": "2025-08-29", "end": "2025-09-05", "tenure": "New", "return": 0.027268, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-09-12", "end": "2025-11-28", "tenure": "Developing", "return": 0.03785, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2025-12-05", "end": "2026-01-30", "tenure": "Developing", "return": -0.059401, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2026-02-06", "end": "2026-03-06", "tenure": "Developing", "return": 0.008542, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2026-03-13", "end": "2026-04-24", "tenure": "Developing", "return": 0.217551, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "violet", "start": "2026-05-01", "end": "2026-06-12", "tenure": "Developing", "return": 0.03066, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-06-19", "end": "2026-07-24", "tenure": "Developing", "return": 0.014451, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-07-31", "end": "2026-09-25", "tenure": "Developing", "return": 0.090602, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-10-02", "end": "2026-10-02", "tenure": "New", "return": 0.0, "active": true } ], "chart_path": [ { "date": "2023-10-13", "close": 36.236465, "volume": 3647472, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2023-10-20", "close": 34.292248, "volume": 2640153, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2023-10-27", "close": 33.625664, "volume": 1818922, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2023-11-03", "close": 34.051537, "volume": 1921262, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2023-11-10", "close": 32.644291, "volume": 3647481, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2023-11-17", "close": 31.829578, "volume": 4485782, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2023-11-24", "close": 30.551952, "volume": 2834227, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2023-12-01", "close": 30.607502, "volume": 3395223, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2023-12-08", "close": 30.218655, "volume": 2802776, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2023-12-15", "close": 30.20014, "volume": 2528244, "typical_volume": 3224780.4, "trend": 32.541839, "fair_value": 29.418851, "relative_strength": -2.048693, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -60.124051, "energy": 71.368639, "activity_lines": [ 30.442087, 31.432655, 32.541839, 32.498475 ] }, { "date": "2023-12-22", "close": 30.25569, "volume": 2383906, "typical_volume": 3190137.65, "trend": 32.396177, "fair_value": 29.429182, "relative_strength": -4.3308, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -66.116769, "energy": 71.105877, "activity_lines": [ 30.300129, 31.038088, 32.293191, 32.350982 ] }, { "date": "2023-12-29", "close": 30.329752, "volume": 1292833, "typical_volume": 3061698.5, "trend": 32.265329, "fair_value": 29.440165, "relative_strength": -5.298408, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -63.450245, "energy": 64.788109, "activity_lines": [ 30.287783, 30.76573, 32.060591, 32.217664 ] }, { "date": "2024-01-05", "close": 30.792662, "volume": 2222623, "typical_volume": 2913543.25, "trend": 32.167192, "fair_value": 29.45646, "relative_strength": -5.512709, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -59.977882, "energy": 46.330946, "activity_lines": [ 30.444555, 30.649582, 31.885655, 32.122653 ] }, { "date": "2024-01-12", "close": 33.329399, "volume": 3409413, "typical_volume": 2955047.8, "trend": 32.161637, "fair_value": 29.502566, "relative_strength": 0.390499, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "mixed", "direction": 3.949125, "energy": 9.044003, "activity_lines": [ 31.434561, 31.046168, 31.960161, 32.197634 ] }, { "date": "2024-01-19", "close": 31.903643, "volume": 1774829, "typical_volume": 2885647.5, "trend": 32.131394, "fair_value": 29.530814, "relative_strength": -1.246782, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -5.251441, "energy": 12.857242, "activity_lines": [ 31.741933, 31.196655, 31.891915, 32.180989 ] }, { "date": "2024-01-26", "close": 32.4221, "volume": 1950395, "typical_volume": 2842767.8, "trend": 32.211014, "fair_value": 29.564434, "relative_strength": -1.288821, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -19.87404, "energy": 22.314638, "activity_lines": [ 32.108556, 31.454874, 31.876309, 32.199745 ] }, { "date": "2024-02-02", "close": 30.588984, "volume": 3888847, "typical_volume": 2892548.8, "trend": 32.252367, "fair_value": 29.57621, "relative_strength": -8.106874, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -36.705571, "energy": 24.746722, "activity_lines": [ 31.719714, 31.369025, 31.681887, 32.095098 ] }, { "date": "2024-02-09", "close": 29.885361, "volume": 4339368, "typical_volume": 2914287.15, "trend": 32.270266, "fair_value": 29.579723, "relative_strength": -11.631164, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -60.53249, "energy": 30.750444, "activity_lines": [ 31.079048, 31.154572, 31.435179, 31.942388 ] }, { "date": "2024-02-16", "close": 31.051893, "volume": 3968985, "typical_volume": 2900558.9, "trend": 32.27829, "fair_value": 29.596264, "relative_strength": -9.119527, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -46.257569, "energy": 30.201193, "activity_lines": [ 30.887714, 31.165346, 31.32364, 31.863783 ] }, { "date": "2024-02-23", "close": 31.607382, "volume": 2387638, "typical_volume": 2867018.95, "trend": 32.316557, "fair_value": 29.61861, "relative_strength": -7.11514, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -47.085476, "energy": 32.619869, "activity_lines": [ 31.033376, 31.261968, 31.285109, 31.820498 ] }, { "date": "2024-03-01", "close": 30.607502, "volume": 2273589, "typical_volume": 2798324.8, "trend": 32.265329, "fair_value": 29.629477, "relative_strength": -11.457376, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -52.051074, "energy": 36.719626, "activity_lines": [ 30.865495, 31.151207, 31.169514, 31.710237 ] }, { "date": "2024-03-08", "close": 29.903877, "volume": 2218215, "typical_volume": 2777227.9, "trend": 32.156082, "fair_value": 29.63246, "relative_strength": -15.093383, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -61.044899, "energy": 38.133582, "activity_lines": [ 30.584046, 30.906118, 31.013713, 31.557885 ] }, { "date": "2024-03-15", "close": 30.107559, "volume": 2650487, "typical_volume": 2818806.15, "trend": 32.078314, "fair_value": 29.637568, "relative_strength": -12.976102, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -56.801857, "energy": 35.164794, "activity_lines": [ 30.416164, 30.705805, 30.898206, 31.425722 ] }, { "date": "2024-03-22", "close": 30.86792, "volume": 2582817, "typical_volume": 2851883.9, "trend": 32.045024, "fair_value": 29.650657, "relative_strength": -11.811906, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -50.208318, "energy": 32.409189, "activity_lines": [ 30.486924, 30.656196, 30.871868, 31.347632 ] }, { "date": "2024-03-29", "close": 31.416431, "volume": 1630528, "typical_volume": 2751036.25, "trend": 32.005947, "fair_value": 29.669244, "relative_strength": -9.851594, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -34.502175, "energy": 20.469956, "activity_lines": [ 30.752785, 30.75107, 30.912928, 31.307078 ] }, { "date": "2024-04-05", "close": 31.45426, "volume": 2400849, "typical_volume": 2646789.6, "trend": 32.003312, "fair_value": 29.687838, "relative_strength": -8.724954, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -27.284638, "energy": 12.083716, "activity_lines": [ 31.043985, 30.861681, 30.963439, 31.271485 ] }, { "date": "2024-04-12", "close": 32.059517, "volume": 3200197, "typical_volume": 2665088.1, "trend": 31.949255, "fair_value": 29.712288, "relative_strength": -6.171203, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -3.026329, "energy": 10.506817, "activity_lines": [ 31.480488, 31.099935, 31.07338, 31.275111 ] }, { "date": "2024-04-19", "close": 30.924664, "volume": 1665117, "typical_volume": 2578582.8, "trend": 31.8154, "fair_value": 29.72466, "relative_strength": -8.373081, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -14.340801, "energy": 13.734995, "activity_lines": [ 31.394997, 31.105116, 31.068061, 31.209009 ] }, { "date": "2024-04-26", "close": 31.132719, "volume": 1902023, "typical_volume": 2533545.15, "trend": 31.67737, "fair_value": 29.738882, "relative_strength": -8.398399, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -11.79417, "energy": 10.343625, "activity_lines": [ 31.324384, 31.129228, 31.081047, 31.164965 ] }, { "date": "2024-05-03", "close": 31.681231, "volume": 2128266, "typical_volume": 2513546.25, "trend": 31.552686, "fair_value": 29.758306, "relative_strength": -5.961849, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -5.113734, "energy": 7.946099, "activity_lines": [ 31.418954, 31.251601, 31.141919, 31.165214 ] }, { "date": "2024-05-10", "close": 32.702599, "volume": 1338714, "typical_volume": 2461286.65, "trend": 31.43489, "fair_value": 29.787457, "relative_strength": -5.00806, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 35.056083, "energy": 28.487713, "activity_lines": [ 31.836328, 31.558334, 31.293012, 31.239402 ] }, { "date": "2024-05-17", "close": 35.369495, "volume": 6182509, "typical_volume": 2705770.45, "trend": 31.470799, "fair_value": 29.842183, "relative_strength": 0.188251, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 83.023249, "energy": 72.769962, "activity_lines": [ 33.059444, 32.311864, 31.686443, 31.493247 ] }, { "date": "2024-05-24", "close": 35.104691, "volume": 1458906, "typical_volume": 2667584.6, "trend": 31.5201, "fair_value": 29.893276, "relative_strength": 0.110945, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 78.007491, "energy": 80.648223, "activity_lines": [ 33.973628, 32.917873, 32.030655, 31.727692 ] }, { "date": "2024-05-31", "close": 35.691036, "volume": 2325227, "typical_volume": 2613375.3, "trend": 31.574749, "fair_value": 29.949023, "relative_strength": 1.394583, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 79.472303, "energy": 86.408713, "activity_lines": [ 34.804591, 33.539634, 32.410176, 31.996785 ] }, { "date": "2024-06-07", "close": 34.91555, "volume": 1521356, "typical_volume": 2600701.65, "trend": 31.650458, "fair_value": 29.996323, "relative_strength": -2.311132, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 66.884219, "energy": 82.96998, "activity_lines": [ 35.07317, 33.932704, 32.704596, 32.21232 ] }, { "date": "2024-06-14", "close": 35.634293, "volume": 3298681, "typical_volume": 2668115.95, "trend": 31.777282, "fair_value": 30.049512, "relative_strength": 2.119805, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 70.332205, "energy": 81.394001, "activity_lines": [ 35.36571, 34.392834, 33.053125, 32.469342 ] }, { "date": "2024-06-21", "close": 36.598915, "volume": 2649295, "typical_volume": 2606138.35, "trend": 31.978847, "fair_value": 30.110721, "relative_strength": 4.655711, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 77.775436, "energy": 79.467934, "activity_lines": [ 35.784344, 34.95235, 33.478227, 32.780415 ] }, { "date": "2024-06-28", "close": 36.750225, "volume": 3465347, "typical_volume": 2562437.3, "trend": 32.183605, "fair_value": 30.172198, "relative_strength": 5.803113, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 74.107797, "energy": 67.429273, "activity_lines": [ 36.171453, 35.456842, 33.88912, 33.088246 ] }, { "date": "2024-07-05", "close": 37.31765, "volume": 2425742, "typical_volume": 2485275.15, "trend": 32.420238, "fair_value": 30.237753, "relative_strength": 5.794354, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 76.204443, "energy": 71.471651, "activity_lines": [ 36.638002, 35.958583, 34.321364, 33.419475 ] }, { "date": "2024-07-12", "close": 37.885078, "volume": 3064976, "typical_volume": 2519142.05, "trend": 32.676403, "fair_value": 30.307274, "relative_strength": 6.068392, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 76.234427, "energy": 74.612732, "activity_lines": [ 37.185253, 36.451039, 34.777812, 33.772045 ] }, { "date": "2024-07-19", "close": 37.733765, "volume": 1403568, "typical_volume": 2475641.0, "trend": 32.925672, "fair_value": 30.374179, "relative_strength": 8.497532, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 71.272402, "energy": 71.952207, "activity_lines": [ 37.484097, 36.803187, 35.189955, 34.098326 ] }, { "date": "2024-07-26", "close": 39.284725, "volume": 1747055, "typical_volume": 2452083.0, "trend": 33.224171, "fair_value": 30.453738, "relative_strength": 11.144115, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 82.707214, "energy": 80.046432, "activity_lines": [ 38.159963, 37.345851, 35.715874, 34.508588 ] }, { "date": "2024-08-02", "close": 40.476318, "volume": 2700479, "typical_volume": 2454582.6, "trend": 33.546959, "fair_value": 30.542433, "relative_strength": 15.251318, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 86.100175, "energy": 85.963481, "activity_lines": [ 39.053973, 38.033983, 36.310608, 34.976468 ] }, { "date": "2024-08-09", "close": 39.719753, "volume": 2164483, "typical_volume": 2433665.9, "trend": 33.759971, "fair_value": 30.622936, "relative_strength": 13.026294, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 71.815692, "energy": 76.632362, "activity_lines": [ 39.447388, 38.486892, 36.783913, 35.374713 ] }, { "date": "2024-08-16", "close": 40.873516, "volume": 1997795, "typical_volume": 2452029.25, "trend": 34.058967, "fair_value": 30.712071, "relative_strength": 14.304303, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 80.439218, "energy": 87.882299, "activity_lines": [ 40.065251, 39.076326, 37.324948, 35.833651 ] }, { "date": "2024-08-23", "close": 43.76738, "volume": 5639393, "typical_volume": 2613956.45, "trend": 34.437143, "fair_value": 30.824617, "relative_strength": 21.966559, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 92.473755, "energy": 93.010084, "activity_lines": [ 41.448506, 40.083591, 38.096555, 36.460001 ] }, { "date": "2024-08-30", "close": 45.318344, "volume": 4583809, "typical_volume": 2683137.05, "trend": 34.928122, "fair_value": 30.948495, "relative_strength": 24.664524, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 92.95331, "energy": 95.218873, "activity_lines": [ 42.946507, 41.224975, 38.95724, 37.162014 ] }, { "date": "2024-09-06", "close": 44.637436, "volume": 2464262, "typical_volume": 2723094.3, "trend": 35.419857, "fair_value": 31.064503, "relative_strength": 24.318846, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 79.706122, "energy": 91.333522, "activity_lines": [ 43.815299, 42.084022, 39.689939, 37.788421 ] }, { "date": "2024-09-13", "close": 43.408016, "volume": 3219449, "typical_volume": 2788965.6, "trend": 35.831728, "fair_value": 31.16823, "relative_strength": 15.668444, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 68.106354, "energy": 79.630718, "activity_lines": [ 43.996875, 42.576135, 40.240251, 38.303786 ] }, { "date": "2024-09-20", "close": 43.029732, "volume": 2882719, "typical_volume": 2826688.25, "trend": 36.212473, "fair_value": 31.267076, "relative_strength": 17.570328, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 66.092739, "energy": 66.029736, "activity_lines": [ 43.806473, 42.888735, 40.696083, 38.768173 ] }, { "date": "2024-09-27", "close": 41.743568, "volume": 2251436, "typical_volume": 2872324.35, "trend": 36.583675, "fair_value": 31.353659, "relative_strength": 15.509326, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 61.672169, "energy": 56.018392, "activity_lines": [ 43.043602, 42.873947, 40.975382, 39.125018 ] }, { "date": "2024-10-04", "close": 42.632534, "volume": 2829174, "typical_volume": 2704657.6, "trend": 37.007964, "fair_value": 31.446108, "relative_strength": 20.551377, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 47.316522, "energy": 41.356784, "activity_lines": [ 42.711974, 42.947885, 41.296293, 39.515267 ] }, { "date": "2024-10-11", "close": 45.904686, "volume": 3106404, "typical_volume": 2787032.5, "trend": 37.534535, "fair_value": 31.563658, "relative_strength": 27.719804, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 78.001521, "energy": 54.386671, "activity_lines": [ 43.650117, 43.555889, 41.894251, 40.089249 ] }, { "date": "2024-10-18", "close": 44.92115, "volume": 9170170, "typical_volume": 3129279.65, "trend": 38.002976, "fair_value": 31.671379, "relative_strength": 25.181359, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 65.134337, "energy": 49.955753, "activity_lines": [ 44.175931, 43.886372, 42.34711, 40.565805 ] }, { "date": "2024-10-25", "close": 42.537964, "volume": 3549872, "typical_volume": 3230705.45, "trend": 38.373694, "fair_value": 31.758312, "relative_strength": 19.458978, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 55.84119, "energy": 42.807923, "activity_lines": [ 43.806474, 43.688977, 42.529046, 40.858385 ] }, { "date": "2024-11-01", "close": 42.727104, "volume": 2751314, "typical_volume": 3203337.1, "trend": 38.749455, "fair_value": 31.845366, "relative_strength": 20.279912, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 53.653582, "energy": 38.800019, "activity_lines": [ 43.532849, 43.495708, 42.692699, 41.13925 ] }, { "date": "2024-11-08", "close": 40.457405, "volume": 1756305, "typical_volume": 3158687.6, "trend": 39.029385, "fair_value": 31.913177, "relative_strength": 16.9028, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 26.067353, "energy": 14.796516, "activity_lines": [ 42.437088, 42.908681, 42.606414, 41.24944 ] }, { "date": "2024-11-15", "close": 42.29208, "volume": 3764750, "typical_volume": 3173657.75, "trend": 39.408299, "fair_value": 31.994263, "relative_strength": 24.29577, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 28.03397, "energy": 19.328369, "activity_lines": [ 42.097894, 42.743612, 42.676487, 41.459937 ] }, { "date": "2024-11-22", "close": 42.821674, "volume": 2261141, "typical_volume": 3165427.7, "trend": 39.79793, "fair_value": 32.078196, "relative_strength": 23.478743, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 19.217551, "energy": 14.66669, "activity_lines": [ 42.176072, 42.717476, 42.770607, 41.680155 ] }, { "date": "2024-11-29", "close": 41.611168, "volume": 2326317, "typical_volume": 3128494.75, "trend": 40.128928, "fair_value": 32.151527, "relative_strength": 18.814163, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 12.279085, "energy": 12.638835, "activity_lines": [ 41.990713, 42.481908, 42.723232, 41.797138 ] }, { "date": "2024-12-06", "close": 41.535511, "volume": 1877273, "typical_volume": 3152180.0, "trend": 40.423359, "fair_value": 32.22316, "relative_strength": 17.757222, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 10.151401, "energy": 7.956184, "activity_lines": [ 41.841921, 42.258377, 42.650908, 41.887885 ] }, { "date": "2024-12-13", "close": 39.436039, "volume": 2014074, "typical_volume": 3165530.95, "trend": 40.55891, "fair_value": 32.277803, "relative_strength": 12.606878, "stage": 2, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "up", "direction": -7.649927, "energy": 14.028014, "activity_lines": [ 41.072745, 41.656906, 42.36053, 41.824187 ] }, { "date": "2024-12-20", "close": 38.112049, "volume": 2864334, "typical_volume": 3173723.7, "trend": 40.659155, "fair_value": 32.32167, "relative_strength": 14.131263, "stage": 3, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -33.788529, "energy": 44.391469, "activity_lines": [ 39.93033, 40.872828, 41.943338, 41.666325 ] }, { "date": "2024-12-27", "close": 39.549526, "volume": 770114, "typical_volume": 3104005.25, "trend": 40.787772, "fair_value": 32.375609, "relative_strength": 14.077466, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -20.335354, "energy": 44.302472, "activity_lines": [ 39.545742, 40.491794, 41.674306, 41.594736 ] }, { "date": "2025-01-03", "close": 40.551979, "volume": 1181602, "typical_volume": 3063195.6, "trend": 40.975653, "fair_value": 32.436174, "relative_strength": 15.721833, "stage": 2, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -29.823183, "energy": 44.685923, "activity_lines": [ 39.713449, 40.39069, 41.501557, 41.579523 ] }, { "date": "2025-01-10", "close": 38.39576, "volume": 1961028, "typical_volume": 2879277.35, "trend": 41.067702, "fair_value": 32.479995, "relative_strength": 10.856877, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -38.567014, "energy": 48.153885, "activity_lines": [ 39.233029, 39.933655, 41.124985, 41.413079 ] }, { "date": "2025-01-17", "close": 38.074219, "volume": 2103390, "typical_volume": 2755256.4, "trend": 41.116878, "fair_value": 32.520829, "relative_strength": 11.787059, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -38.540378, "energy": 43.706154, "activity_lines": [ 38.854745, 39.496909, 40.743369, 41.219951 ] }, { "date": "2025-01-24", "close": 39.133415, "volume": 1605394, "typical_volume": 2712313.0, "trend": 41.196318, "fair_value": 32.568746, "relative_strength": 12.677902, "stage": 3, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -55.934317, "energy": 46.029462, "activity_lines": [ 38.920314, 39.296076, 40.497125, 41.091985 ] }, { "date": "2025-01-31", "close": 41.686829, "volume": 1717249, "typical_volume": 2637203.0, "trend": 41.341957, "fair_value": 32.634344, "relative_strength": 18.851755, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -33.720316, "energy": 24.740228, "activity_lines": [ 39.768931, 39.616929, 40.520273, 41.123631 ] }, { "date": "2025-02-07", "close": 39.88998, "volume": 5080989, "typical_volume": 2747116.5, "trend": 41.408788, "fair_value": 32.68617, "relative_strength": 11.931891, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -36.006457, "energy": 20.077097, "activity_lines": [ 39.876111, 39.631717, 40.380488, 41.029955 ] }, { "date": "2025-02-14", "close": 39.66301, "volume": 2562036, "typical_volume": 2762646.5, "trend": 41.473096, "fair_value": 32.735651, "relative_strength": 10.818649, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -33.405998, "energy": 17.941886, "activity_lines": [ 39.951767, 39.636531, 40.234038, 40.917325 ] }, { "date": "2025-02-21", "close": 37.582451, "volume": 3182794, "typical_volume": 2780327.5, "trend": 41.416353, "fair_value": 32.769783, "relative_strength": 2.279126, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -60.798121, "energy": 28.745988, "activity_lines": [ 39.249421, 39.297107, 39.899347, 40.666315 ] }, { "date": "2025-02-28", "close": 37.828339, "volume": 3250692, "typical_volume": 2787541.9, "trend": 41.328087, "fair_value": 32.805158, "relative_strength": 1.255395, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -58.444743, "energy": 40.711305, "activity_lines": [ 38.661821, 39.036092, 39.612122, 40.43483 ] }, { "date": "2025-03-07", "close": 37.204166, "volume": 2144524, "typical_volume": 2436259.6, "trend": 41.244234, "fair_value": 32.835706, "relative_strength": 1.223931, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -61.842377, "energy": 56.603846, "activity_lines": [ 37.953169, 38.66675, 39.303911, 40.168771 ] }, { "date": "2025-03-14", "close": 37.147423, "volume": 1699975, "typical_volume": 2343764.75, "trend": 41.120031, "fair_value": 32.865442, "relative_strength": 2.988538, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -63.027787, "energy": 63.363834, "activity_lines": [ 37.524447, 38.329733, 39.027044, 39.904461 ] }, { "date": "2025-03-21", "close": 37.771595, "volume": 1383389, "typical_volume": 2275368.5, "trend": 40.920172, "fair_value": 32.899046, "relative_strength": 5.1889, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -57.769918, "energy": 56.826375, "activity_lines": [ 37.48662, 38.168103, 38.83529, 39.688432 ] }, { "date": "2025-03-28", "close": 35.608738, "volume": 1800368, "typical_volume": 2277571.65, "trend": 40.596518, "fair_value": 32.917479, "relative_strength": 1.468645, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -72.530357, "energy": 62.249586, "activity_lines": [ 36.853934, 37.624575, 38.461148, 39.345759 ] }, { "date": "2025-04-04", "close": 29.40242, "volume": 3637132, "typical_volume": 2271190.75, "trend": 40.088684, "fair_value": 32.893729, "relative_strength": -6.260139, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -92.324958, "energy": 85.949972, "activity_lines": [ 34.284057, 35.997452, 37.519017, 38.623559 ] }, { "date": "2025-04-11", "close": 27.15263, "volume": 3528589, "typical_volume": 2334563.15, "trend": 39.546838, "fair_value": 32.855198, "relative_strength": -13.263048, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -93.668642, "energy": 96.093793, "activity_lines": [ 31.525977, 34.138204, 36.423999, 37.788975 ] }, { "date": "2025-04-18", "close": 27.695683, "volume": 1408085, "typical_volume": 2288651.55, "trend": 39.035703, "fair_value": 32.820801, "relative_strength": -15.053483, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -84.243161, "energy": 93.92959, "activity_lines": [ 29.619018, 32.641951, 35.455316, 37.024385 ] }, { "date": "2025-04-25", "close": 28.684814, "volume": 2099530, "typical_volume": 2299764.4, "trend": 38.600411, "fair_value": 32.793411, "relative_strength": -13.334601, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -66.98866, "energy": 88.019734, "activity_lines": [ 28.671885, 31.547254, 34.647099, 36.356585 ] }, { "date": "2025-05-02", "close": 31.12855, "volume": 1736417, "typical_volume": 2285881.55, "trend": 38.216945, "fair_value": 32.782458, "relative_strength": -12.179717, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -66.528963, "energy": 86.1598, "activity_lines": [ 29.145116, 31.096477, 34.132813, 35.87453 ] }, { "date": "2025-05-09", "close": 29.266657, "volume": 2243559, "typical_volume": 2254842.8, "trend": 37.662344, "fair_value": 32.759479, "relative_strength": -16.29801, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -65.93595, "energy": 66.041697, "activity_lines": [ 29.296395, 30.424517, 33.480763, 35.297092 ] }, { "date": "2025-05-16", "close": 34.677788, "volume": 6556628, "typical_volume": 2544168.5, "trend": 37.320899, "fair_value": 32.771935, "relative_strength": -4.80266, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -48.533365, "energy": 40.552139, "activity_lines": [ 31.260435, 30.892066, 33.38618, 35.10454 ] }, { "date": "2025-05-23", "close": 35.996628, "volume": 3975463, "typical_volume": 2683861.55, "trend": 37.102854, "fair_value": 32.79274, "relative_strength": -1.453953, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -27.140798, "energy": 25.403156, "activity_lines": [ 33.162412, 31.645339, 33.4404, 35.019103 ] }, { "date": "2025-05-30", "close": 35.240234, "volume": 1823358, "typical_volume": 2676978.05, "trend": 36.853292, "fair_value": 32.808429, "relative_strength": -4.180533, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -22.722825, "energy": 27.437742, "activity_lines": [ 34.258861, 32.282008, 33.444274, 34.898934 ] }, { "date": "2025-06-06", "close": 37.237896, "volume": 2927161, "typical_volume": 2718166.6, "trend": 36.745975, "fair_value": 32.857817, "relative_strength": -1.835228, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -1.754395, "energy": 25.638272, "activity_lines": [ 35.584169, 33.327914, 33.653428, 34.923747 ] }, { "date": "2025-06-13", "close": 38.013683, "volume": 2453154, "typical_volume": 2760554.6, "trend": 36.603362, "fair_value": 32.90781, "relative_strength": -0.352732, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "mixed", "direction": 29.273127, "energy": 37.324681, "activity_lines": [ 36.760783, 34.485251, 33.940449, 35.005535 ] }, { "date": "2025-06-20", "close": 35.88026, "volume": 1751103, "typical_volume": 2762247.3, "trend": 36.371981, "fair_value": 32.939526, "relative_strength": -2.215064, "stage": 4, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 20.076304, "energy": 30.049573, "activity_lines": [ 36.643121, 35.098125, 34.029619, 34.958883 ] }, { "date": "2025-06-27", "close": 34.658394, "volume": 1543835, "typical_volume": 2585389.6, "trend": 36.140222, "fair_value": 32.95135, "relative_strength": -4.505826, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "down", "direction": 0.030955, "energy": 18.118231, "activity_lines": [ 36.038006, 35.330156, 34.030071, 34.848329 ] }, { "date": "2025-07-04", "close": 34.386868, "volume": 2505537, "typical_volume": 2582564.65, "trend": 35.901934, "fair_value": 32.955784, "relative_strength": -5.525768, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -4.931395, "energy": 11.976263, "activity_lines": [ 35.431597, 35.386225, 34.029576, 34.735209 ] }, { "date": "2025-07-11", "close": 33.766235, "volume": 2673150, "typical_volume": 2557082.45, "trend": 35.712941, "fair_value": 32.961774, "relative_strength": -7.633108, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -25.731141, "energy": 17.748273, "activity_lines": [ 34.675202, 35.225778, 33.995097, 34.597422 ] }, { "date": "2025-07-18", "close": 32.835289, "volume": 1955585, "typical_volume": 2492327.1, "trend": 35.537049, "fair_value": 32.961038, "relative_strength": -10.227411, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -40.44989, "energy": 27.246365, "activity_lines": [ 33.839936, 34.848109, 33.89013, 34.411767 ] }, { "date": "2025-07-25", "close": 34.037762, "volume": 2085642, "typical_volume": 2489383.0, "trend": 35.353323, "fair_value": 32.969525, "relative_strength": -9.726087, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -33.801907, "energy": 24.202224, "activity_lines": [ 33.75072, 34.624188, 33.923459, 34.315039 ] }, { "date": "2025-08-01", "close": 32.641342, "volume": 2165121, "typical_volume": 2512640.3, "trend": 35.089635, "fair_value": 32.972964, "relative_strength": -5.186897, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -43.617409, "energy": 28.568597, "activity_lines": [ 33.318864, 34.15801, 33.838875, 34.140073 ] }, { "date": "2025-08-08", "close": 33.805027, "volume": 2102763, "typical_volume": 2548609.0, "trend": 34.936611, "fair_value": 32.993939, "relative_strength": -3.808331, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -37.032161, "energy": 23.678492, "activity_lines": [ 33.409373, 33.964415, 33.886576, 34.057195 ] }, { "date": "2025-08-15", "close": 37.877922, "volume": 3584184, "typical_volume": 2637799.8, "trend": 34.930068, "fair_value": 33.05879, "relative_strength": 8.668763, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": 14.572999, "energy": 10.303468, "activity_lines": [ 34.896304, 34.537442, 34.341059, 34.246957 ] }, { "date": "2025-08-22", "close": 38.673103, "volume": 1990649, "typical_volume": 2555475.65, "trend": 34.914724, "fair_value": 33.130398, "relative_strength": 6.945058, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 41.27361, "energy": 48.065902, "activity_lines": [ 36.374182, 35.24341, 34.860468, 34.488443 ] }, { "date": "2025-08-29", "close": 39.119183, "volume": 1793069, "typical_volume": 2468699.65, "trend": 34.829136, "fair_value": 33.216603, "relative_strength": 11.221666, "stage": 1, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 44.442496, "energy": 63.656972, "activity_lines": [ 37.611566, 36.018494, 35.378216, 34.759698 ] }, { "date": "2025-09-05", "close": 40.185894, "volume": 2360291, "typical_volume": 2516309.95, "trend": 34.838999, "fair_value": 33.312267, "relative_strength": 14.121217, "stage": 1, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "up", "direction": 74.413947, "energy": 81.173382, "activity_lines": [ 38.865759, 36.928636, 35.940571, 35.105296 ] }, { "date": "2025-09-12", "close": 41.504734, "volume": 2139148, "typical_volume": 2518290.85, "trend": 34.90039, "fair_value": 33.423783, "relative_strength": 17.984858, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 79.239026, "energy": 86.018224, "activity_lines": [ 40.056595, 37.978067, 36.569052, 35.535343 ] }, { "date": "2025-09-19", "close": 43.638157, "volume": 3402285, "typical_volume": 2601584.25, "trend": 35.102247, "fair_value": 33.554975, "relative_strength": 22.902477, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 86.090317, "energy": 91.040528, "activity_lines": [ 41.445258, 39.285978, 37.33967, 36.09907 ] }, { "date": "2025-09-26", "close": 43.133892, "volume": 3225230, "typical_volume": 2650667.8, "trend": 35.279099, "fair_value": 33.689837, "relative_strength": 23.68175, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 76.165414, "energy": 88.138406, "activity_lines": [ 42.281817, 40.322714, 38.002693, 36.61724 ] }, { "date": "2025-10-03", "close": 44.316975, "volume": 3805236, "typical_volume": 2513098.2, "trend": 35.516193, "fair_value": 33.830477, "relative_strength": 21.899624, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 78.270477, "energy": 88.798582, "activity_lines": [ 43.215352, 41.38731, 38.712356, 37.200329 ] }, { "date": "2025-10-10", "close": 44.491528, "volume": 2771968, "typical_volume": 2452923.45, "trend": 35.760996, "fair_value": 33.965828, "relative_strength": 21.600275, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 74.557701, "energy": 85.76903, "activity_lines": [ 43.860551, 42.296747, 39.392742, 37.779383 ] }, { "date": "2025-10-17", "close": 44.123024, "volume": 2072433, "typical_volume": 2465377.2, "trend": 35.97271, "fair_value": 34.094303, "relative_strength": 20.435654, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 68.2987, "energy": 72.76494, "activity_lines": [ 44.095873, 42.923725, 39.99758, 38.318869 ] }, { "date": "2025-10-24", "close": 44.821236, "volume": 1967084, "typical_volume": 2417373.35, "trend": 36.279794, "fair_value": 34.219855, "relative_strength": 21.596075, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 71.853311, "energy": 66.377421, "activity_lines": [ 44.38938, 43.490052, 40.626616, 38.889741 ] }, { "date": "2025-10-31", "close": 45.752182, "volume": 2360799, "typical_volume": 2412755.6, "trend": 36.824786, "fair_value": 34.359065, "relative_strength": 24.92179, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 75.519254, "energy": 66.32143, "activity_lines": [ 44.91433, 44.099399, 41.308203, 39.500863 ] }, { "date": "2025-11-07", "close": 44.064838, "volume": 2988541, "typical_volume": 2474627.5, "trend": 37.388526, "fair_value": 34.479332, "relative_strength": 20.111942, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 64.718215, "energy": 57.680107, "activity_lines": [ 44.70228, 44.273246, 41.792239, 39.967963 ] }, { "date": "2025-11-14", "close": 44.142422, "volume": 6616554, "typical_volume": 2728263.45, "trend": 37.936751, "fair_value": 34.605775, "relative_strength": 17.422111, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 62.349673, "energy": 53.632711, "activity_lines": [ 44.5329, 44.371278, 42.244691, 40.403699 ] }, { "date": "2025-11-21", "close": 42.842972, "volume": 3717521, "typical_volume": 2788862.65, "trend": 38.408689, "fair_value": 34.720453, "relative_strength": 15.289591, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 48.724497, "energy": 41.426636, "activity_lines": [ 43.953644, 44.161109, 42.528224, 40.720229 ] }, { "date": "2025-11-28", "close": 43.075706, "volume": 3219914, "typical_volume": 2816200.85, "trend": 38.806928, "fair_value": 34.841457, "relative_strength": 12.358116, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 42.592361, "energy": 30.510642, "activity_lines": [ 43.537303, 43.968924, 42.793654, 41.021327 ] }, { "date": "2025-12-05", "close": 43.424812, "volume": 1709256, "typical_volume": 2803884.4, "trend": 39.278866, "fair_value": 34.966009, "relative_strength": 11.637713, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 38.976865, "energy": 26.170082, "activity_lines": [ 43.353699, 43.85044, 43.048002, 41.319255 ] }, { "date": "2025-12-12", "close": 42.047791, "volume": 1651063, "typical_volume": 2782155.45, "trend": 39.524533, "fair_value": 35.081822, "relative_strength": 5.529231, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 32.404297, "energy": 20.951722, "activity_lines": [ 42.866246, 43.476298, 43.120779, 41.497895 ] }, { "date": "2025-12-19", "close": 41.892632, "volume": 2458952, "typical_volume": 2796847.0, "trend": 39.721066, "fair_value": 35.19629, "relative_strength": 5.426936, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 19.653432, "energy": 16.986948, "activity_lines": [ 42.461543, 43.115204, 43.140635, 41.650676 ] }, { "date": "2025-12-26", "close": 41.698685, "volume": 1088873, "typical_volume": 2746152.5, "trend": 39.936348, "fair_value": 35.311846, "relative_strength": 3.828939, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 12.966311, "energy": 16.519551, "activity_lines": [ 42.142177, 42.766099, 43.097967, 41.778264 ] }, { "date": "2026-01-02", "close": 41.698685, "volume": 1940532, "typical_volume": 2663969.9, "trend": 40.085041, "fair_value": 35.425362, "relative_strength": 3.381206, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 5.532598, "energy": 16.748731, "activity_lines": [ 41.899097, 42.461073, 43.01771, 41.891963 ] }, { "date": "2026-01-09", "close": 43.482998, "volume": 4369674, "typical_volume": 2782921.15, "trend": 40.267352, "fair_value": 35.547142, "relative_strength": 3.229228, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 18.45717, "energy": 14.526236, "activity_lines": [ 42.342589, 42.537241, 43.089193, 42.111186 ] }, { "date": "2026-01-16", "close": 45.112156, "volume": 3276994, "typical_volume": 2857117.4, "trend": 40.575081, "fair_value": 35.684492, "relative_strength": 4.986629, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 50.736617, "energy": 27.655766, "activity_lines": [ 43.325255, 42.950878, 43.29293, 42.423754 ] }, { "date": "2026-01-23", "close": 44.18121, "volume": 3528132, "typical_volume": 2915509.45, "trend": 40.892509, "fair_value": 35.81765, "relative_strength": 3.991345, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 41.534966, "energy": 29.744914, "activity_lines": [ 43.793315, 43.17621, 43.379468, 42.656408 ] }, { "date": "2026-01-30", "close": 40.845314, "volume": 4125258, "typical_volume": 3014814.95, "trend": 41.10779, "fair_value": 35.928026, "relative_strength": -2.981929, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 13.882658, "energy": 13.89969, "activity_lines": [ 42.996837, 42.79431, 43.129276, 42.653363 ] }, { "date": "2026-02-06", "close": 36.32634, "volume": 7945623, "typical_volume": 3241981.85, "trend": 41.193127, "fair_value": 35.986251, "relative_strength": -10.944451, "stage": 4, "regime": "rotation_down", "modifier": "Structural failure", "gate": "mixed", "direction": -36.272846, "energy": 29.221294, "activity_lines": [ 40.750926, 41.627099, 42.451845, 42.344882 ] }, { "date": "2026-02-13", "close": 37.858524, "volume": 4145982, "typical_volume": 3288019.45, "trend": 41.360568, "fair_value": 36.050482, "relative_strength": -5.004834, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -39.607489, "energy": 56.195949, "activity_lines": [ 39.3739, 40.861183, 41.955155, 42.129747 ] }, { "date": "2026-02-20", "close": 38.789474, "volume": 4323194, "typical_volume": 3313917.35, "trend": 41.518959, "fair_value": 36.123214, "relative_strength": -3.115077, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -31.058084, "energy": 59.527593, "activity_lines": [ 38.682155, 40.365736, 41.572248, 41.96387 ] }, { "date": "2026-02-27", "close": 37.567604, "volume": 3722684, "typical_volume": 3361453.15, "trend": 41.683167, "fair_value": 36.191027, "relative_strength": -1.670165, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -38.632046, "energy": 66.202609, "activity_lines": [ 38.004632, 39.707372, 41.099293, 41.708943 ] }, { "date": "2026-03-06", "close": 36.636654, "volume": 3632042, "typical_volume": 3439433.6, "trend": 41.777555, "fair_value": 36.251357, "relative_strength": -2.064127, "stage": 4, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -70.416022, "energy": 74.097368, "activity_lines": [ 37.4577, 38.958382, 40.570648, 41.383362 ] }, { "date": "2026-03-13", "close": 36.384525, "volume": 2769810, "typical_volume": 3479569.9, "trend": 41.727775, "fair_value": 36.305178, "relative_strength": -1.345467, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -68.909348, "energy": 66.728799, "activity_lines": [ 37.107302, 38.255588, 40.05364, 41.035425 ] }, { "date": "2026-03-20", "close": 37.48, "volume": 3876946, "typical_volume": 3555377.25, "trend": 41.688005, "fair_value": 36.361517, "relative_strength": 4.271605, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -60.653011, "energy": 50.722281, "activity_lines": [ 37.118183, 37.848591, 39.681137, 40.761375 ] }, { "date": "2026-03-27", "close": 38.66, "volume": 4944727, "typical_volume": 3653186.55, "trend": 41.672699, "fair_value": 36.420732, "relative_strength": 6.3642, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -56.490831, "energy": 40.601885, "activity_lines": [ 37.547632, 37.765286, 39.460407, 40.566019 ] }, { "date": "2026-04-03", "close": 40.779999, "volume": 2063111, "typical_volume": 3425514.4, "trend": 41.692502, "fair_value": 36.495318, "relative_strength": 7.067035, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -37.180971, "energy": 23.125776, "activity_lines": [ 38.69238, 38.184747, 39.467319, 40.508426 ] }, { "date": "2026-04-10", "close": 40.380001, "volume": 2007725, "typical_volume": 3340024.6, "trend": 41.655011, "fair_value": 36.555469, "relative_strength": 2.818046, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -31.62112, "energy": 20.050867, "activity_lines": [ 39.489635, 38.593321, 39.452147, 40.423748 ] }, { "date": "2026-04-17", "close": 42.439999, "volume": 3588548, "typical_volume": 3358456.3, "trend": 41.615073, "fair_value": 36.616719, "relative_strength": 5.634139, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -7.598805, "energy": 17.648106, "activity_lines": [ 40.724, 39.3849, 39.644894, 40.474393 ] }, { "date": "2026-04-24", "close": 44.299999, "volume": 3211794, "typical_volume": 3433583.2, "trend": 41.653943, "fair_value": 36.688468, "relative_strength": 12.927375, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "mixed", "direction": 33.565264, "energy": 35.145692, "activity_lines": [ 42.174666, 40.403504, 40.017811, 40.647614 ] }, { "date": "2026-05-01", "close": 42.400002, "volume": 2286153, "typical_volume": 3465337.7, "trend": 41.590044, "fair_value": 36.754565, "relative_strength": 6.340097, "stage": 3, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 19.662504, "energy": 35.475775, "activity_lines": [ 42.537334, 40.959536, 40.205608, 40.695747 ] }, { "date": "2026-05-08", "close": 43.060001, "volume": 2658413, "typical_volume": 3475310.75, "trend": 41.542326, "fair_value": 36.813024, "relative_strength": 7.784792, "stage": 3, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 26.786268, "energy": 53.512582, "activity_lines": [ 42.870667, 41.569922, 40.454586, 40.790583 ] }, { "date": "2026-05-15", "close": 41.380001, "volume": 3417853, "typical_volume": 3591759.75, "trend": 41.450892, "fair_value": 36.850743, "relative_strength": 1.927397, "stage": 3, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 20.82287, "energy": 44.189019, "activity_lines": [ 42.492001, 41.774992, 40.538004, 40.78011 ] }, { "date": "2026-05-22", "close": 41.82, "volume": 4486044, "typical_volume": 3719035.35, "trend": 41.350851, "fair_value": 36.896861, "relative_strength": 1.706846, "stage": 3, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 16.36005, "energy": 18.862026, "activity_lines": [ 42.193334, 41.973819, 40.664845, 40.803923 ] }, { "date": "2026-05-29", "close": 43.419998, "volume": 4924891, "typical_volume": 3746796.2, "trend": 41.273111, "fair_value": 36.95561, "relative_strength": 5.278614, "stage": 3, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 34.888171, "energy": 24.898917, "activity_lines": [ 42.469333, 42.364727, 40.943488, 40.937417 ] }, { "date": "2026-06-05", "close": 44.799999, "volume": 3910287, "typical_volume": 3778460.85, "trend": 41.297617, "fair_value": 37.026528, "relative_strength": 9.940758, "stage": 2, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 42.199654, "energy": 31.544345, "activity_lines": [ 43.263999, 42.898545, 41.35386, 41.164958 ] }, { "date": "2026-06-12", "close": 43.700001, "volume": 478797, "typical_volume": 3625994.1, "trend": 41.282869, "fair_value": 37.091938, "relative_strength": 6.025776, "stage": 2, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "up", "direction": 59.665203, "energy": 45.633554, "activity_lines": [ 43.532, 43.120727, 41.660958, 41.31995 ] }, { "date": "2026-06-19", "close": 41.52, "volume": 863102, "typical_volume": 3462886.3, "trend": 41.23877, "fair_value": 37.147766, "relative_strength": 2.042883, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 54.002156, "energy": 38.533252, "activity_lines": [ 43.030666, 42.893455, 41.762727, 41.335249 ] }, { "date": "2026-06-26", "close": 42.0, "volume": 422414, "typical_volume": 3086725.85, "trend": 41.202913, "fair_value": 37.224474, "relative_strength": -0.297403, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 41.479919, "energy": 25.995322, "activity_lines": [ 42.68, 42.732727, 41.906998, 41.384361 ] }, { "date": "2026-07-03", "close": 43.119999, "volume": 533242, "typical_volume": 2906088.85, "trend": 41.192753, "fair_value": 37.312753, "relative_strength": -2.995314, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 43.281429, "energy": 21.519442, "activity_lines": [ 42.690666, 42.783636, 42.130918, 41.508044 ] }, { "date": "2026-07-10", "close": 42.48, "volume": 328624, "typical_volume": 2706360.35, "trend": 41.20716, "fair_value": 37.39693, "relative_strength": -3.44081, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 35.452996, "energy": 18.673543, "activity_lines": [ 42.508, 42.739636, 42.268831, 41.591092 ] }, { "date": "2026-07-17", "close": 42.860001, "volume": 495843, "typical_volume": 2545018.3, "trend": 41.239406, "fair_value": 37.474166, "relative_strength": -4.421999, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 37.983717, "energy": 19.397078, "activity_lines": [ 42.606667, 42.763273, 42.425361, 41.697727 ] }, { "date": "2026-07-24", "close": 42.119999, "volume": 328969, "typical_volume": 2379864.65, "trend": 41.253449, "fair_value": 37.548914, "relative_strength": -2.747476, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 34.942052, "energy": 18.753912, "activity_lines": [ 42.514666, 42.656, 42.486212, 41.754539 ] }, { "date": "2026-07-31", "close": 41.5, "volume": 536482, "typical_volume": 2268198.25, "trend": 41.246827, "fair_value": 37.608886, "relative_strength": -4.911176, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 17.119746, "energy": 10.273408, "activity_lines": [ 42.176, 42.422545, 42.461905, 41.770446 ] }, { "date": "2026-08-07", "close": 41.580002, "volume": 321857, "typical_volume": 2090443.8, "trend": 41.183393, "fair_value": 37.662724, "relative_strength": -5.156752, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 13.148367, "energy": 10.838112, "activity_lines": [ 41.897334, 42.209455, 42.420857, 41.791941 ] }, { "date": "2026-08-14", "close": 42.52, "volume": 525232, "typical_volume": 1869469.05, "trend": 41.096988, "fair_value": 37.727336, "relative_strength": -5.684602, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 16.453194, "energy": 13.240814, "activity_lines": [ 42.034667, 42.200728, 42.44981, 41.878174 ] }, { "date": "2026-08-21", "close": 41.040001, "volume": 423007, "typical_volume": 1787463.85, "trend": 40.992281, "fair_value": 37.786139, "relative_strength": -9.254619, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 0.408683, "energy": 11.203811, "activity_lines": [ 41.676001, 41.964364, 42.319429, 41.874497 ] }, { "date": "2026-08-28", "close": 41.419998, "volume": 294840, "typical_volume": 1701819.6, "trend": 41.011437, "fair_value": 37.84275, "relative_strength": -9.072398, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 4.068776, "energy": 16.112371, "activity_lines": [ 41.565333, 41.845455, 42.224, 41.902092 ] }, { "date": "2026-09-04", "close": 44.119999, "volume": 4459601, "typical_volume": 1745372.25, "trend": 41.271226, "fair_value": 37.923434, "relative_strength": -2.478181, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 48.299108, "energy": 22.376265, "activity_lines": [ 42.401333, 42.219273, 42.380762, 42.102644 ] }, { "date": "2026-09-11", "close": 44.419998, "volume": 2723097, "typical_volume": 1720937.4, "trend": 41.489942, "fair_value": 37.992272, "relative_strength": 0.762179, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 62.43621, "energy": 43.575777, "activity_lines": [ 43.162665, 42.60909, 42.558095, 42.305791 ] }, { "date": "2026-09-18", "close": 42.560001, "volume": 4782680, "typical_volume": 1845763.75, "trend": 41.615626, "fair_value": 38.041116, "relative_strength": -3.453126, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 47.047672, "energy": 32.507203, "activity_lines": [ 43.114666, 42.637091, 42.557714, 42.374827 ] }, { "date": "2026-09-25", "close": 45.259998, "volume": 3360358, "typical_volume": 1880861.0, "trend": 41.872039, "fair_value": 38.105132, "relative_strength": 4.709278, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 68.580215, "energy": 58.575143, "activity_lines": [ 43.963999, 43.154545, 42.813714, 42.609948 ] }, { "date": "2026-10-02", "close": 43.68, "volume": 3298652, "typical_volume": 1874900.95, "trend": 42.106817, "fair_value": 38.158069, "relative_strength": 2.198646, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 52.699592, "energy": 53.902142, "activity_lines": [ 44.005333, 43.34109, 42.908762, 42.72659 ] } ], "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." } } }