{ "ticker": { "uuid": "9f97272b-12a9-414c-afec-a50e6052e58c", "symbol": "VAL", "name": "Amundi MSCI EMU Value Factor ETF Distribution", "exchange": "MIL", "country": "IT", "assetType": "etf" }, "methodBoundary": "Trend Architecture is a weekly structural classification, not a forecast, probability of return, recommendation or execution signal. Confidence measures geometric agreement and external confirmation only.", "analysis": { "eligible": true, "as_of": "2026-08-07", "benchmark": "FTSEMIB.MI", "stage": 2, "stage_name": "Advancing", "phase": "2b", "phase_label": "Stage 2B \u00b7 Advancing", "transition": "stage_2_healthy", "transition_label": "Stage 2 trend intact", "confidence": 96.0, "architecture_regime": "upward_expansion", "architecture_regime_label": "Upward Expansion", "architecture_modifier": "Established expansion", "architecture_gate": "up", "architecture_direction": 89.957, "architecture_energy": 91.981, "architecture_maturity": 40.23, "architecture_confidence": 72.754, "architecture_tenure": "Established", "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": 0.87, "rotation_up": 81.46, "upward_expansion": 98.25, "deceleration": 40.13, "rotation_down": 15.34, "downward_expansion": 20.25 }, "activity_lines": [ 194.378666, 192.046182, 187.338668, 183.538797 ], "activity_state": "Wide", "activity_direction": "Expanding", "rotation_direction": "Improving", "price_acceptance": 1.0 }, "latest_close": 197.660004, "trend_reference": 179.223334, "distance_from_trend": 0.10287, "trend_direction": "Improving", "fair_value": 150.758642, "distance_from_fair_value": 0.311102, "fair_value_direction": "Improving", "relative_strength": -0.664238, "relative_strength_direction": "Improving", "price_momentum": 0.131814, "excess_performance": -0.039078, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.10287, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.04878, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.311102, "read": "Premium" }, { "label": "Fair Value direction", "positive": true, "value": 0.094577, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.006642, "read": "Lagging" }, { "label": "Relative strength direction", "positive": true, "value": 0.025896, "read": "Improving" }, { "label": "Price momentum", "positive": true, "value": 0.131814, "read": "Positive" }, { "label": "Volume balance", "positive": true, "value": 1.150029, "read": "Demand-led" } ], "volume": { "latest": 1148, "relative_activity": 0.84294, "balance": 1.150029, "dry_up": 0.91655, "accumulation_observations": 2, "distribution_observations": 3 }, "risk": { "range_context": 0.016579, "annualized_volatility": 0.154688, "from_high_reference": -0.005734, "from_low_reference": 0.299456 }, "levels": { "trend_reference": 179.223334, "fair_value_reference": 150.758642, "structural_low": 159.779999, "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis." }, "outcomes": [ { "horizon": "Near term", "sample_count": 6, "median_return": 0.024122, "positive_rate": 0.833333, "directional_follow_through": 0.833333, "median_excess_return": 0.002418, "regime_survival": 0.833333, "best_return": 0.04785, "worst_return": -0.077574, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 2, "median_return": 0.040467, "positive_rate": 0.5, "directional_follow_through": 0.5, "median_excess_return": 0.010733, "regime_survival": 0.5, "best_return": 0.095482, "worst_return": -0.014548, "sufficient": false }, { "horizon": "Extended", "sample_count": 1, "median_return": 0.116742, "positive_rate": 1.0, "directional_follow_through": 1.0, "median_excess_return": -0.032517, "regime_survival": 1.0, "best_return": 0.116742, "worst_return": 0.116742, "sufficient": false }, { "horizon": "Full cycle", "sample_count": 0, "median_return": null, "positive_rate": null, "directional_follow_through": null, "median_excess_return": null, "regime_survival": null, "best_return": null, "worst_return": null, "sufficient": false } ], "ledger": [ { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-12-26", "end": "2026-03-13", "tenure": "Developing", "return": 0.000596, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2026-03-20", "end": "2026-04-17", "tenure": "Developing", "return": 0.099254, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-04-24", "end": "2026-08-07", "tenure": "Established", "return": 0.127424, "active": true } ], "chart_path": [ { "date": "2024-06-21", "close": 119.952797, "volume": 1081, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-06-28", "close": 119.711372, "volume": 463, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-07-05", "close": 122.515663, "volume": 81, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-07-12", "close": 123.09137, "volume": 85, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-07-19", "close": 122.255661, "volume": 731, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-07-26", "close": 123.221367, "volume": 320, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-08-02", "close": 120.491364, "volume": 1328, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-08-09", "close": 117.90995, "volume": 441, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-08-16", "close": 121.401375, "volume": 281, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-08-23", "close": 122.385658, "volume": 105, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-08-30", "close": 125.468513, "volume": 251, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-09-06", "close": 123.388519, "volume": 2209, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-09-13", "close": 125.171371, "volume": 761, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-09-20", "close": 126.137085, "volume": 3253, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-09-27", "close": 128.811371, "volume": 1869, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-10-04", "close": 126.359947, "volume": 2182, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-10-11", "close": 126.638519, "volume": 470, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-10-18", "close": 128.625656, "volume": 6621, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-10-25", "close": 126.434219, "volume": 672, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-01", "close": 125.784225, "volume": 895, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-08", "close": 123.611366, "volume": 1232, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-15", "close": 124.094231, "volume": 1384, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-22", "close": 123.277084, "volume": 4552, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-29", "close": 122.887077, "volume": 805, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-12-06", "close": 125.877075, "volume": 937, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-12-13", "close": 125.455818, "volume": 1347, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-12-20", "close": 122.148247, "volume": 2846, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-12-27", "close": 123.192734, "volume": 311, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-03", "close": 123.48288, "volume": 318, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-10", "close": 124.566063, "volume": 682, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-17", "close": 127.351379, "volume": 176, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-24", "close": 129.691849, "volume": 1023, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-31", "close": 132.264389, "volume": 1710, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-02-07", "close": 134.372742, "volume": 1742, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-02-14", "close": 137.544922, "volume": 2171, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-02-21", "close": 137.777039, "volume": 1703, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-02-28", "close": 140.388275, "volume": 294, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-03-07", "close": 144.005325, "volume": 3215, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-03-14", "close": 142.786743, "volume": 2723, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-03-21", "close": 143.985992, "volume": 3953, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-03-28", "close": 142.844772, "volume": 2649, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-04-04", "close": 131.06517, "volume": 790, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-04-11", "close": 128.956818, "volume": 4110, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-04-18", "close": 135.262497, "volume": 2381, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-04-25", "close": 140.078781, "volume": 2515, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-02", "close": 143.46373, "volume": 1340, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-09", "close": 145.378662, "volume": 4105, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-16", "close": 148.222, "volume": 1625, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-23", "close": 147.77713, "volume": 725, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-30", "close": 148.628189, "volume": 994, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-06-06", "close": 149.96283, "volume": 3763, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-06-13", "close": 147.409622, "volume": 1317, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-06-20", "close": 146.539215, "volume": 378, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-06-27", "close": 148.338074, "volume": 508, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-07-04", "close": 147.93187, "volume": 1345, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-07-11", "close": 149.479263, "volume": 2195, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-07-18", "close": 149.305191, "volume": 416, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-07-25", "close": 152.032486, "volume": 6286, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-01", "close": 148.047928, "volume": 938, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-08", "close": 154.663071, "volume": 1027, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-15", "close": 157.44841, "volume": 2205, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-22", "close": 159.750168, "volume": 1688, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-29", "close": 154.430954, "volume": 2493, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-09-05", "close": 152.59343, "volume": 1160, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-09-12", "close": 154.663071, "volume": 1498, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-09-19", "close": 154.12149, "volume": 143, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-09-26", "close": 153.367126, "volume": 137, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-10-03", "close": 157.583801, "volume": 1351, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-10-10", "close": 155.707581, "volume": 717, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-10-17", "close": 155.823624, "volume": 10421, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-10-24", "close": 157.390854, "volume": 410, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-10-31", "close": 158.299469, "volume": 1303, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-11-07", "close": 157.931976, "volume": 677, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-11-14", "close": 162.55484, "volume": 2386, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-11-21", "close": 158.628311, "volume": 1068, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-11-28", "close": 162.786957, "volume": 1852, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-12-05", "close": 163.541321, "volume": 7134, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-12-12", "close": 165.119995, "volume": 3087, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-12-19", "close": 167.800003, "volume": 1982, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-12-26", "close": 167.720001, "volume": 341, "typical_volume": 2102.65, "trend": 155.699098, "fair_value": 139.589599, "relative_strength": 1.865844, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 77.736759, "energy": 89.227486, "activity_lines": [ 166.335307, 164.018502, 160.863139, 158.728254 ] }, { "date": "2026-01-02", "close": 170.119995, "volume": 1229, "typical_volume": 2053.85, "trend": 156.371003, "fair_value": 139.966517, "relative_strength": 1.50761, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 85.340335, "energy": 93.080926, "activity_lines": [ 167.910753, 165.462615, 161.935218, 159.658635 ] }, { "date": "2026-01-09", "close": 170.979996, "volume": 1985, "typical_volume": 2068.7, "trend": 157.156682, "fair_value": 140.344731, "relative_strength": 1.15089, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 82.387417, "energy": 92.274458, "activity_lines": [ 169.283998, 166.831653, 163.028861, 160.601151 ] }, { "date": "2026-01-16", "close": 171.520004, "volume": 2145, "typical_volume": 2051.3, "trend": 157.989375, "fair_value": 140.720336, "relative_strength": 1.167987, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 79.096091, "energy": 90.746199, "activity_lines": [ 170.341333, 168.06832, 164.120457, 161.527817 ] }, { "date": "2026-01-23", "close": 169.279999, "volume": 1686, "typical_volume": 2077.6, "trend": 158.68744, "fair_value": 141.060332, "relative_strength": 1.900281, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 67.474445, "energy": 72.820041, "activity_lines": [ 170.225333, 168.650657, 164.917344, 162.256244 ] }, { "date": "2026-01-30", "close": 171.779999, "volume": 1254, "typical_volume": 2065.4, "trend": 159.482377, "fair_value": 141.42174, "relative_strength": 1.749182, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 74.11967, "energy": 68.035813, "activity_lines": [ 170.843999, 169.565265, 165.872865, 163.100925 ] }, { "date": "2026-02-06", "close": 174.639999, "volume": 2845, "typical_volume": 2200.5, "trend": 160.321068, "fair_value": 141.807999, "relative_strength": 2.55805, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 82.882658, "energy": 70.508315, "activity_lines": [ 172.145333, 170.76075, 167.019259, 164.078836 ] }, { "date": "2026-02-13", "close": 173.199997, "volume": 1461, "typical_volume": 2266.7, "trend": 161.117562, "fair_value": 142.168826, "relative_strength": 2.609555, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 70.77887, "energy": 66.057517, "activity_lines": [ 172.665332, 171.478908, 167.930802, 164.909735 ] }, { "date": "2026-02-20", "close": 177.380005, "volume": 1499, "typical_volume": 2274.1, "trend": 161.962479, "fair_value": 142.568953, "relative_strength": 2.607131, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 87.425002, "energy": 83.298854, "activity_lines": [ 174.430667, 172.781454, 169.145999, 165.958925 ] }, { "date": "2026-02-27", "close": 179.139999, "volume": 6668, "typical_volume": 2571.65, "trend": 162.998882, "fair_value": 142.979864, "relative_strength": 1.92178, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 87.249173, "energy": 92.692781, "activity_lines": [ 176.392, 174.181091, 170.434547, 167.067152 ] }, { "date": "2026-03-06", "close": 166.800003, "volume": 4087, "typical_volume": 2254.95, "trend": 163.403446, "fair_value": 143.244532, "relative_strength": 1.449489, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 59.139048, "energy": 52.92977, "activity_lines": [ 173.582668, 173.13091, 170.436274, 167.312385 ] }, { "date": "2026-03-13", "close": 167.820007, "volume": 5909, "typical_volume": 2529.9, "trend": 163.749166, "fair_value": 143.514592, "relative_strength": 1.641062, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 45.208445, "energy": 34.704295, "activity_lines": [ 171.445337, 172.282911, 170.482876, 167.597325 ] }, { "date": "2026-03-20", "close": 163.619995, "volume": 1368, "typical_volume": 2533.15, "trend": 163.87816, "fair_value": 143.733129, "relative_strength": 2.442391, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 7.991466, "energy": 18.337161, "activity_lines": [ 168.362668, 170.713092, 170.079815, 167.588991 ] }, { "date": "2026-03-27", "close": 165.279999, "volume": 4086, "typical_volume": 2703.6, "trend": 164.239795, "fair_value": 143.964816, "relative_strength": 2.133625, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -0.40886, "energy": 24.090652, "activity_lines": [ 166.472, 169.57891, 169.809512, 167.679432 ] }, { "date": "2026-04-03", "close": 171.639999, "volume": 1983, "typical_volume": 2683.45, "trend": 164.874681, "fair_value": 144.259233, "relative_strength": 0.853253, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 16.102158, "energy": 22.08093, "activity_lines": [ 167.508, 169.714546, 170.109934, 168.156865 ] }, { "date": "2026-04-10", "close": 177.539993, "volume": 2625, "typical_volume": 2761.3, "trend": 165.637245, "fair_value": 144.609557, "relative_strength": 0.003944, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 50.985248, "energy": 21.088041, "activity_lines": [ 171.010664, 170.879999, 170.928997, 168.973982 ] }, { "date": "2026-04-17", "close": 179.860001, "volume": 509, "typical_volume": 2694.15, "trend": 166.495195, "fair_value": 144.976749, "relative_strength": -1.261178, "stage": 2, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "up", "direction": 70.157279, "energy": 49.542332, "activity_lines": [ 174.570664, 172.362545, 171.878958, 169.891579 ] }, { "date": "2026-04-24", "close": 175.320007, "volume": 952, "typical_volume": 2385.05, "trend": 167.226958, "fair_value": 145.289566, "relative_strength": -1.267182, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 54.323382, "energy": 55.168451, "activity_lines": [ 175.814668, 172.924728, 172.315238, 170.460922 ] }, { "date": "2026-05-01", "close": 177.460007, "volume": 1028, "typical_volume": 2282.1, "trend": 167.889498, "fair_value": 145.617836, "relative_strength": -1.251129, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 60.166825, "energy": 65.286851, "activity_lines": [ 176.992003, 173.837456, 172.899239, 171.121119 ] }, { "date": "2026-05-08", "close": 177.539993, "volume": 1280, "typical_volume": 2247.0, "trend": 168.617245, "fair_value": 145.940282, "relative_strength": -3.253847, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 60.413063, "energy": 63.591804, "activity_lines": [ 177.384001, 174.763273, 173.432095, 171.743731 ] }, { "date": "2026-05-15", "close": 176.800003, "volume": 823, "typical_volume": 2271.1, "trend": 169.316458, "fair_value": 146.248879, "relative_strength": -3.292743, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 56.030571, "energy": 40.900984, "activity_lines": [ 177.136002, 175.583637, 173.848096, 172.271651 ] }, { "date": "2026-05-22", "close": 181.380005, "volume": 2784, "typical_volume": 2348.85, "trend": 170.116096, "fair_value": 146.596712, "relative_strength": -1.538297, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 68.945188, "energy": 45.719121, "activity_lines": [ 178.464002, 177.054911, 174.657049, 173.049944 ] }, { "date": "2026-05-29", "close": 181.440002, "volume": 325, "typical_volume": 2265.85, "trend": 170.887447, "fair_value": 146.938313, "relative_strength": -2.500038, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 66.014496, "energy": 47.382309, "activity_lines": [ 179.710669, 178.290547, 175.418096, 173.780519 ] }, { "date": "2026-06-05", "close": 181.080002, "volume": 1942, "typical_volume": 2255.7, "trend": 171.659048, "fair_value": 147.269786, "relative_strength": -2.380282, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 65.234424, "energy": 59.289951, "activity_lines": [ 180.429335, 179.136729, 176.095049, 174.438103 ] }, { "date": "2026-06-12", "close": 184.300003, "volume": 168, "typical_volume": 2179.8, "trend": 172.383887, "fair_value": 147.625845, "relative_strength": -3.659923, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 75.775516, "energy": 75.79052, "activity_lines": [ 181.980003, 180.281093, 177.033144, 175.253649 ] }, { "date": "2026-06-19", "close": 187.460007, "volume": 930, "typical_volume": 2163.6, "trend": 173.344943, "fair_value": 148.005218, "relative_strength": -4.421817, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 82.117011, "energy": 84.537851, "activity_lines": [ 184.133337, 181.769821, 178.200669, 176.226302 ] }, { "date": "2026-06-26", "close": 187.300003, "volume": 36, "typical_volume": 2023.15, "trend": 174.162045, "fair_value": 148.375924, "relative_strength": -1.512419, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 78.975788, "energy": 88.936356, "activity_lines": [ 185.522671, 183.049094, 179.278288, 177.126628 ] }, { "date": "2026-07-03", "close": 191.779999, "volume": 178, "typical_volume": 1959.0, "trend": 175.103334, "fair_value": 148.781569, "relative_strength": -2.071515, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 89.574531, "energy": 94.961594, "activity_lines": [ 188.010669, 185.007639, 180.722288, 178.26327 ] }, { "date": "2026-07-10", "close": 190.279999, "volume": 2596, "typical_volume": 2013.85, "trend": 175.942001, "fair_value": 149.165814, "relative_strength": -2.40159, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 75.964604, "energy": 90.463945, "activity_lines": [ 189.309334, 186.394184, 181.934954, 179.24241 ] }, { "date": "2026-07-17", "close": 190.220001, "volume": 1475, "typical_volume": 1754.2, "trend": 176.689334, "fair_value": 149.542458, "relative_strength": -1.036609, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 71.053394, "energy": 88.294062, "activity_lines": [ 189.974667, 187.536729, 183.080478, 180.163571 ] }, { "date": "2026-07-24", "close": 192.059998, "volume": 679, "typical_volume": 1583.8, "trend": 177.500667, "fair_value": 149.928981, "relative_strength": 0.088212, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 77.927201, "energy": 89.582167, "activity_lines": [ 190.858666, 188.783274, 184.348478, 181.155227 ] }, { "date": "2026-07-31", "close": 195.119995, "volume": 1691, "typical_volume": 1372.9, "trend": 178.334001, "fair_value": 150.336107, "relative_strength": 0.94231, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 86.00962, "energy": 86.385446, "activity_lines": [ 192.455998, 190.308727, 185.78762, 182.291958 ] }, { "date": "2026-08-07", "close": 197.660004, "volume": 1148, "typical_volume": 1361.9, "trend": 179.223334, "fair_value": 150.758642, "relative_strength": -0.664238, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 89.957295, "energy": 91.980967, "activity_lines": [ 194.378666, 192.046182, 187.338668, 183.538797 ] } ], "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." } } }