{ "ticker": { "uuid": "a4634955-cb29-4548-881a-195abf08fed6", "symbol": "HDGE", "name": "ADVISORSHARES TRUST RANGER EQUITY BEAR ETF NEW(POST REV SPLT", "exchange": "NYSEARCA", "country": "US", "assetType": "etf" }, "methodBoundary": "Trend Architecture is a weekly structural classification, not a forecast, probability of return, recommendation or execution signal. Confidence measures geometric agreement and external confirmation only.", "analysis": { "eligible": true, "as_of": "2026-08-07", "benchmark": "SPY", "stage": 4, "stage_name": "Declining", "phase": "4a", "phase_label": "Stage 4A \u00b7 Breakdown", "transition": "stage_4_declining", "transition_label": "Stage 4 decline intact", "confidence": 96.0, "architecture_regime": "downward_expansion", "architecture_regime_label": "Downward Expansion", "architecture_modifier": "Early contraction", "architecture_gate": "down", "architecture_direction": -89.705, "architecture_energy": 88.076, "architecture_maturity": 15.65, "architecture_confidence": 78.406, "architecture_tenure": "New", "architecture": { "interpretation": { "headline": "The weekly architecture is expanding downward.", "body": "Trend and Activity show sustained negative alignment with weak price acceptance. Repair requires persistent improvement across the structure, not merely one strong observation." }, "scores": { "balance": 9.55, "rotation_up": 9.31, "upward_expansion": 19.36, "deceleration": 37.09, "rotation_down": 85.14, "downward_expansion": 97.36 }, "activity_lines": [ 15.14726, 15.615725, 16.14132, 16.467516 ], "activity_state": "Wide", "activity_direction": "Expanding", "rotation_direction": "Weakening", "price_acceptance": -1.0 }, "latest_close": 14.27, "trend_reference": 16.70227, "distance_from_trend": -0.145625, "trend_direction": "Weakening", "fair_value": 17.115857, "distance_from_fair_value": -0.16627, "fair_value_direction": "Weakening", "relative_strength": -22.522169, "relative_strength_direction": "Weakening", "price_momentum": -0.131467, "excess_performance": -0.257092, "evidence": [ { "label": "Price vs Trend", "positive": false, "value": -0.145625, "read": "Below" }, { "label": "Trend direction", "positive": false, "value": -0.004022, "read": "Falling" }, { "label": "Price vs current Fair Value", "positive": false, "value": -0.16627, "read": "Below anchor" }, { "label": "Fair Value direction", "positive": false, "value": -0.12733, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.225222, "read": "Lagging" }, { "label": "Relative strength direction", "positive": false, "value": -0.12049, "read": "Weakening" }, { "label": "Price momentum", "positive": false, "value": -0.131467, "read": "Negative" }, { "label": "Volume balance", "positive": false, "value": 0.615783, "read": "Supply-led" } ], "volume": { "latest": 524073, "relative_activity": 0.955356, "balance": 0.615783, "dry_up": 0.751903, "accumulation_observations": 0, "distribution_observations": 1 }, "risk": { "range_context": 0.052431, "annualized_volatility": 0.224368, "from_high_reference": -0.226558, "from_low_reference": 0.004194 }, "levels": { "trend_reference": 16.70227, "fair_value_reference": 17.115857, "structural_low": 14.2104, "invalidation": "Reclaiming a flat-to-rising Trend with improving relative strength is required before the declining diagnosis is repaired." }, "outcomes": [ { "horizon": "Near term", "sample_count": 22, "median_return": 0.005603, "positive_rate": 0.590909, "directional_follow_through": 0.409091, "median_excess_return": 0.001696, "regime_survival": 0.727273, "best_return": 0.112536, "worst_return": -0.058067, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 9, "median_return": 0.028254, "positive_rate": 0.666667, "directional_follow_through": 0.333333, "median_excess_return": 0.017465, "regime_survival": 0.333333, "best_return": 0.115764, "worst_return": -0.092604, "sufficient": true }, { "horizon": "Extended", "sample_count": 7, "median_return": -0.012931, "positive_rate": 0.428571, "directional_follow_through": 0.571429, "median_excess_return": -0.094986, "regime_survival": 0.571429, "best_return": 0.081628, "worst_return": -0.152165, "sufficient": true }, { "horizon": "Full cycle", "sample_count": 4, "median_return": -0.011211, "positive_rate": 0.5, "directional_follow_through": 0.5, "median_excess_return": -0.20245, "regime_survival": 0.25, "best_return": 0.251704, "worst_return": -0.134698, "sufficient": false } ], "ledger": [ { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-03-07", "end": "2025-03-14", "tenure": "New", "return": 0.033529, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2025-03-21", "end": "2025-04-04", "tenure": "New", "return": 0.095238, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-04-11", "end": "2025-05-16", "tenure": "Developing", "return": -0.100922, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2025-05-23", "end": "2025-07-04", "tenure": "Developing", "return": -0.101104, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2025-07-11", "end": "2025-08-01", "tenure": "New", "return": 0.050521, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2025-08-08", "end": "2025-08-15", "tenure": "New", "return": -0.030886, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-08-22", "end": "2025-10-24", "tenure": "Developing", "return": 0.009357, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-10-31", "end": "2025-11-21", "tenure": "New", "return": 0.042489, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2025-11-28", "end": "2025-12-05", "tenure": "New", "return": -0.01955, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-12-12", "end": "2026-02-13", "tenure": "Developing", "return": 0.079437, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-02-20", "end": "2026-04-17", "tenure": "Developing", "return": -0.0212, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2026-04-24", "end": "2026-07-03", "tenure": "Developing", "return": -0.057261, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2026-07-10", "end": "2026-07-24", "tenure": "New", "return": -0.005459, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2026-07-31", "end": "2026-08-07", "tenure": "New", "return": -0.056841, "active": true } ], "chart_path": [ { "date": "2023-08-18", "close": 18.085969, "volume": 686964, "typical_volume": 515099.4, "trend": 19.626857, "fair_value": 22.369255, "relative_strength": -21.588041, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -63.106547, "energy": 55.823039, "activity_lines": [ 17.386536, 17.507699, 18.456996, 19.100638 ] }, { "date": "2023-08-25", "close": 18.159423, "volume": 500012, "typical_volume": 524548.55, "trend": 19.572446, "fair_value": 22.261742, "relative_strength": -21.457265, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -48.246717, "energy": 40.639308, "activity_lines": [ 17.714151, 17.577449, 18.344096, 19.005964 ] }, { "date": "2023-09-01", "close": 17.6126, "volume": 453507, "typical_volume": 524967.6, "trend": 19.546602, "fair_value": 22.151248, "relative_strength": -25.107862, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -43.844072, "energy": 33.366996, "activity_lines": [ 17.766994, 17.552377, 18.194508, 18.879523 ] }, { "date": "2023-09-08", "close": 18.281846, "volume": 193037, "typical_volume": 515912.1, "trend": 19.506066, "fair_value": 22.036149, "relative_strength": -20.874967, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -37.872337, "energy": 28.616139, "activity_lines": [ 17.987421, 17.678231, 18.125137, 18.797926 ] }, { "date": "2023-09-15", "close": 18.151262, "volume": 239885, "typical_volume": 505787.2, "trend": 19.477228, "fair_value": 21.923352, "relative_strength": -20.746691, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -35.421977, "energy": 25.280393, "activity_lines": [ 18.075087, 17.783458, 18.056193, 18.710519 ] }, { "date": "2023-09-22", "close": 18.975577, "volume": 386190, "typical_volume": 493166.3, "trend": 19.4522, "fair_value": 21.806946, "relative_strength": -13.862356, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -17.560572, "energy": 19.218334, "activity_lines": [ 18.380873, 18.043903, 18.079824, 18.678154 ] }, { "date": "2023-09-29", "close": 19.122485, "volume": 792148, "typical_volume": 520733.8, "trend": 19.443222, "fair_value": 21.700898, "relative_strength": -11.751831, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": 7.58916, "energy": 22.735074, "activity_lines": [ 18.676321, 18.301381, 18.129883, 18.656882 ] }, { "date": "2023-10-06", "close": 19.816215, "volume": 1170462, "typical_volume": 533309.0, "trend": 19.387724, "fair_value": 21.607145, "relative_strength": -8.249557, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": 22.554811, "energy": 36.367153, "activity_lines": [ 19.138808, 18.642254, 18.260003, 18.680946 ] }, { "date": "2023-10-13", "close": 20.003931, "volume": 324084, "typical_volume": 526577.9, "trend": 19.324064, "fair_value": 21.51198, "relative_strength": -6.94515, "stage": 1, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 43.713145, "energy": 65.271452, "activity_lines": [ 19.516959, 18.962056, 18.41484, 18.720702 ] }, { "date": "2023-10-20", "close": 20.575238, "volume": 392910, "typical_volume": 511586.9, "trend": 19.278359, "fair_value": 21.426231, "relative_strength": -1.311923, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 48.86326, "energy": 76.416455, "activity_lines": [ 19.97074, 19.330084, 18.628014, 18.801423 ] }, { "date": "2023-10-27", "close": 21.146546, "volume": 717811, "typical_volume": 506675.6, "trend": 19.291417, "fair_value": 21.329496, "relative_strength": 4.365464, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 52.540471, "energy": 81.095033, "activity_lines": [ 20.453359, 19.742465, 18.891477, 18.921951 ] }, { "date": "2023-11-03", "close": 19.889669, "volume": 926460, "typical_volume": 519373.25, "trend": 19.24136, "fair_value": 21.238306, "relative_strength": -6.505673, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 39.606956, "energy": 69.397609, "activity_lines": [ 20.372288, 19.870675, 19.025717, 18.960548 ] }, { "date": "2023-11-10", "close": 20.501785, "volume": 461105, "typical_volume": 530082.05, "trend": 19.222316, "fair_value": 21.181908, "relative_strength": -4.609207, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 40.793452, "energy": 56.060686, "activity_lines": [ 20.44411, 20.07872, 19.211218, 19.041865 ] }, { "date": "2023-11-17", "close": 19.408138, "volume": 682468, "typical_volume": 539204.45, "trend": 19.169811, "fair_value": 21.127655, "relative_strength": -11.184563, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 33.461222, "energy": 36.882068, "activity_lines": [ 20.105678, 20.03539, 19.286465, 19.053854 ] }, { "date": "2023-11-24", "close": 19.391815, "volume": 170073, "typical_volume": 523932.85, "trend": 19.11268, "fair_value": 21.08036, "relative_strength": -11.625774, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 15.74169, "energy": 16.749219, "activity_lines": [ 19.801524, 19.968613, 19.355609, 19.068177 ] }, { "date": "2023-12-01", "close": 18.559338, "volume": 556334, "typical_volume": 515558.0, "trend": 19.011749, "fair_value": 21.030344, "relative_strength": -15.639176, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 18.818762, "energy": 20.744067, "activity_lines": [ 19.298774, 19.727922, 19.340962, 19.032477 ] }, { "date": "2023-12-08", "close": 18.730731, "volume": 592125, "typical_volume": 527856.9, "trend": 18.900752, "fair_value": 20.985089, "relative_strength": -14.436392, "stage": 4, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 12.788728, "energy": 24.514095, "activity_lines": [ 19.025634, 19.525961, 19.336847, 19.014347 ] }, { "date": "2023-12-15", "close": 17.384077, "volume": 969269, "typical_volume": 553679.2, "trend": 18.7718, "fair_value": 20.936434, "relative_strength": -21.666467, "stage": 4, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -38.386591, "energy": 39.600442, "activity_lines": [ 18.380873, 19.086277, 19.195152, 18.916497 ] }, { "date": "2023-12-22", "close": 17.155554, "volume": 1118487, "typical_volume": 581913.95, "trend": 18.649377, "fair_value": 20.888407, "relative_strength": -22.561371, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -42.858687, "energy": 55.939836, "activity_lines": [ 17.867784, 18.649264, 19.028817, 18.812223 ] }, { "date": "2023-12-29", "close": 17.149846, "volume": 883396, "typical_volume": 610836.35, "trend": 18.564034, "fair_value": 20.839819, "relative_strength": -22.01699, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -38.731687, "energy": 67.460848, "activity_lines": [ 17.502965, 18.263001, 18.860927, 18.715479 ] }, { "date": "2024-01-05", "close": 17.937615, "volume": 437065, "typical_volume": 598341.4, "trend": 18.523722, "fair_value": 20.800467, "relative_strength": -16.374347, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -29.269532, "energy": 62.873745, "activity_lines": [ 17.5502, 18.08225, 18.768786, 18.675065 ] }, { "date": "2024-01-12", "close": 18.134535, "volume": 277322, "typical_volume": 587206.9, "trend": 18.514459, "fair_value": 20.764993, "relative_strength": -16.444735, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -25.682469, "energy": 47.528461, "activity_lines": [ 17.704524, 17.995646, 18.696105, 18.649956 ] }, { "date": "2024-01-19", "close": 18.358308, "volume": 517568, "typical_volume": 590409.95, "trend": 18.4857, "fair_value": 20.734093, "relative_strength": -15.866224, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -19.729406, "energy": 24.065332, "activity_lines": [ 17.973185, 17.981639, 18.644854, 18.639882 ] }, { "date": "2024-01-26", "close": 18.009223, "volume": 361945, "typical_volume": 598855.35, "trend": 18.4709, "fair_value": 20.70671, "relative_strength": -17.869855, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -13.72289, "energy": 13.754606, "activity_lines": [ 18.060535, 17.943135, 18.556806, 18.609142 ] }, { "date": "2024-02-02", "close": 18.071879, "volume": 541127, "typical_volume": 613917.45, "trend": 18.45846, "fair_value": 20.687053, "relative_strength": -18.437137, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -11.021346, "energy": 11.857285, "activity_lines": [ 18.11186, 17.941458, 18.476024, 18.583398 ] }, { "date": "2024-02-09", "close": 17.624334, "volume": 550368, "typical_volume": 622126.35, "trend": 18.467829, "fair_value": 20.667875, "relative_strength": -21.092111, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -21.144038, "energy": 18.339461, "activity_lines": [ 17.952534, 17.882407, 18.352996, 18.529584 ] }, { "date": "2024-02-16", "close": 17.552727, "volume": 648069, "typical_volume": 614922.4, "trend": 18.493854, "fair_value": 20.647087, "relative_strength": -20.727135, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -61.899901, "energy": 45.74709, "activity_lines": [ 17.790224, 17.827338, 18.229583, 18.470545 ] }, { "date": "2024-02-23", "close": 18.125585, "volume": 352684, "typical_volume": 574033.5, "trend": 18.538703, "fair_value": 20.627461, "relative_strength": -18.962636, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -51.625629, "energy": 33.383587, "activity_lines": [ 17.857654, 17.897842, 18.168203, 18.446786 ] }, { "date": "2024-03-01", "close": 17.704892, "volume": 276008, "typical_volume": 571629.7, "trend": 18.564088, "fair_value": 20.605974, "relative_strength": -21.126578, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -57.237545, "energy": 38.462115, "activity_lines": [ 17.800369, 17.878375, 18.074808, 18.392991 ] }, { "date": "2024-03-08", "close": 17.68699, "volume": 301364, "typical_volume": 567052.4, "trend": 18.576938, "fair_value": 20.589605, "relative_strength": -20.263278, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -56.203208, "energy": 35.560985, "activity_lines": [ 17.757404, 17.845665, 17.990655, 18.336404 ] }, { "date": "2024-03-15", "close": 18.134535, "volume": 210130, "typical_volume": 541668.35, "trend": 18.578557, "fair_value": 20.574744, "relative_strength": -17.415439, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -40.735743, "energy": 23.779011, "activity_lines": [ 17.889281, 17.884561, 17.962879, 18.307862 ] }, { "date": "2024-03-22", "close": 17.928665, "volume": 251372, "typical_volume": 507913.95, "trend": 18.570865, "fair_value": 20.557046, "relative_strength": -19.348274, "stage": 1, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -38.635685, "energy": 23.504918, "activity_lines": [ 17.91852, 17.882445, 17.92984, 18.265934 ] }, { "date": "2024-03-29", "close": 17.543776, "volume": 229764, "typical_volume": 496346.9, "trend": 18.568571, "fair_value": 20.53798, "relative_strength": -20.720625, "stage": 1, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -57.762301, "energy": 31.174488, "activity_lines": [ 17.794401, 17.814093, 17.869483, 18.19967 ] }, { "date": "2024-04-05", "close": 18.286701, "volume": 344358, "typical_volume": 479441.4, "trend": 18.568732, "fair_value": 20.526031, "relative_strength": -15.944984, "stage": 1, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -19.816935, "energy": 10.939907, "activity_lines": [ 17.956711, 17.895628, 17.893966, 18.181485 ] }, { "date": "2024-04-12", "close": 18.796902, "volume": 628678, "typical_volume": 502371.65, "trend": 18.590254, "fair_value": 20.518764, "relative_strength": -11.709303, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": 3.539416, "energy": 9.740788, "activity_lines": [ 18.2503, 18.064881, 17.97238, 18.196206 ] }, { "date": "2024-04-19", "close": 19.16389, "volume": 840820, "typical_volume": 516595.95, "trend": 18.596531, "fair_value": 20.515608, "relative_strength": -6.57521, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": 14.849487, "energy": 28.637377, "activity_lines": [ 18.592225, 18.287677, 18.088578, 18.233214 ] }, { "date": "2024-04-26", "close": 18.895362, "volume": 684517, "typical_volume": 521215.55, "trend": 18.58896, "fair_value": 20.510176, "relative_strength": -9.658536, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 25.458257, "energy": 44.118817, "activity_lines": [ 18.776017, 18.433658, 18.176323, 18.252494 ] }, { "date": "2024-05-03", "close": 18.707393, "volume": 577499, "typical_volume": 501627.05, "trend": 18.551999, "fair_value": 20.502859, "relative_strength": -10.396815, "stage": 1, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 21.530454, "energy": 46.220743, "activity_lines": [ 18.832706, 18.521052, 18.245382, 18.260135 ] }, { "date": "2024-05-10", "close": 18.644737, "volume": 333976, "typical_volume": 462401.5, "trend": 18.506693, "fair_value": 20.493204, "relative_strength": -11.560412, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 30.688499, "energy": 46.235613, "activity_lines": [ 18.790935, 18.586475, 18.302173, 18.266118 ] }, { "date": "2024-05-17", "close": 18.045026, "volume": 377654, "typical_volume": 437114.4, "trend": 18.422352, "fair_value": 20.480595, "relative_strength": -15.094118, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 4.428651, "energy": 9.869288, "activity_lines": [ 18.525391, 18.525771, 18.294757, 18.236333 ] }, { "date": "2024-05-24", "close": 18.358308, "volume": 184259, "typical_volume": 424474.1, "trend": 18.329411, "fair_value": 20.472243, "relative_strength": -12.96647, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 5.595753, "energy": 7.80137, "activity_lines": [ 18.4144, 18.515518, 18.312914, 18.232201 ] }, { "date": "2024-05-31", "close": 18.501523, "volume": 355441, "typical_volume": 428380.05, "trend": 18.28314, "fair_value": 20.465647, "relative_strength": -11.445316, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 2.800819, "energy": 8.954729, "activity_lines": [ 18.404853, 18.527236, 18.342708, 18.243305 ] }, { "date": "2024-06-07", "close": 18.539922, "volume": 163607, "typical_volume": 410682.0, "trend": 18.217744, "fair_value": 20.461808, "relative_strength": -11.91731, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 29.912616, "energy": 18.576232, "activity_lines": [ 18.434361, 18.53552, 18.374411, 18.259871 ] }, { "date": "2024-06-14", "close": 18.913264, "volume": 262294, "typical_volume": 405699.45, "trend": 18.201248, "fair_value": 20.45942, "relative_strength": -11.270528, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 56.679472, "energy": 28.899876, "activity_lines": [ 18.599481, 18.593572, 18.440806, 18.304744 ] }, { "date": "2024-06-21", "close": 18.940117, "volume": 174190, "typical_volume": 387352.6, "trend": 18.186192, "fair_value": 20.4616, "relative_strength": -11.269907, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 57.649771, "energy": 44.189053, "activity_lines": [ 18.755651, 18.645115, 18.505453, 18.352413 ] }, { "date": "2024-06-28", "close": 18.447817, "volume": 279604, "typical_volume": 373814.4, "trend": 18.182474, "fair_value": 20.459263, "relative_strength": -13.175943, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 49.621576, "energy": 33.747286, "activity_lines": [ 18.688047, 18.604544, 18.51908, 18.369292 ] }, { "date": "2024-07-05", "close": 18.591032, "volume": 196221, "typical_volume": 351222.0, "trend": 18.177818, "fair_value": 20.455595, "relative_strength": -13.757815, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 48.829079, "energy": 30.422106, "activity_lines": [ 18.662215, 18.603032, 18.542426, 18.39565 ] }, { "date": "2024-07-12", "close": 17.725031, "volume": 279365, "typical_volume": 347556.05, "trend": 18.189183, "fair_value": 20.441353, "relative_strength": -18.25762, "stage": 4, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": -3.429035, "energy": 7.385344, "activity_lines": [ 18.341749, 18.449599, 18.47835, 18.366438 ] }, { "date": "2024-07-19", "close": 17.364758, "volume": 279920, "typical_volume": 347751.65, "trend": 18.196156, "fair_value": 20.426423, "relative_strength": -18.071098, "stage": 4, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "mixed", "direction": -34.84975, "energy": 37.46037, "activity_lines": [ 17.955517, 18.248523, 18.381871, 18.313249 ] }, { "date": "2024-07-26", "close": 16.935114, "volume": 790835, "typical_volume": 372225.2, "trend": 18.188999, "fair_value": 20.408373, "relative_strength": -19.183467, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -43.37064, "energy": 63.989414, "activity_lines": [ 17.529305, 17.992602, 18.246092, 18.231892 ] }, { "date": "2024-08-02", "close": 17.658616, "volume": 642989, "typical_volume": 393868.15, "trend": 18.179699, "fair_value": 20.39449, "relative_strength": -13.67663, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -33.68389, "energy": 59.987578, "activity_lines": [ 17.477927, 17.888407, 18.182799, 18.197674 ] }, { "date": "2024-08-09", "close": 17.713843, "volume": 552124, "typical_volume": 408905.75, "trend": 18.165676, "fair_value": 20.378606, "relative_strength": -13.154396, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -32.135955, "energy": 56.813647, "activity_lines": [ 17.497571, 17.806975, 18.127032, 18.167618 ] }, { "date": "2024-08-16", "close": 17.175625, "volume": 391635, "typical_volume": 416999.3, "trend": 18.126253, "fair_value": 20.355454, "relative_strength": -18.580562, "stage": 4, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -67.726489, "energy": 60.60323, "activity_lines": [ 17.396289, 17.642006, 18.021029, 18.103744 ] }, { "date": "2024-08-23", "close": 16.809801, "volume": 432914, "typical_volume": 421427.1, "trend": 18.086272, "fair_value": 20.334351, "relative_strength": -20.945837, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -73.253799, "energy": 50.543279, "activity_lines": [ 17.209692, 17.43533, 17.881939, 18.018812 ] }, { "date": "2024-08-30", "close": 17.033574, "volume": 191813, "typical_volume": 399583.85, "trend": 18.051662, "fair_value": 20.316147, "relative_strength": -19.731521, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -64.069794, "energy": 51.956809, "activity_lines": [ 17.134683, 17.307584, 17.771193, 17.950896 ] }, { "date": "2024-09-06", "close": 18.098732, "volume": 572356, "typical_volume": 386160.65, "trend": 18.067475, "fair_value": 20.301214, "relative_strength": -10.660903, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -48.192992, "energy": 33.809577, "activity_lines": [ 17.408163, 17.408168, 17.770288, 17.953933 ] }, { "date": "2024-09-13", "close": 17.337905, "volume": 618202, "typical_volume": 382844.9, "trend": 18.060315, "fair_value": 20.281508, "relative_strength": -17.267048, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -44.596818, "energy": 29.533403, "activity_lines": [ 17.398693, 17.376766, 17.701995, 17.906863 ] }, { "date": "2024-09-20", "close": 17.006721, "volume": 622453, "typical_volume": 385092.6, "trend": 18.023019, "fair_value": 20.260045, "relative_strength": -19.372629, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -61.011187, "energy": 32.11333, "activity_lines": [ 17.303891, 17.307934, 17.609577, 17.83889 ] }, { "date": "2024-09-27", "close": 16.57851, "volume": 419838, "typical_volume": 389385.7, "trend": 17.985473, "fair_value": 20.232437, "relative_strength": -21.178781, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -68.037925, "energy": 37.809008, "activity_lines": [ 17.077612, 17.174305, 17.484476, 17.745696 ] }, { "date": "2024-10-04", "close": 16.783844, "volume": 441321, "typical_volume": 392569.05, "trend": 17.955368, "fair_value": 20.206616, "relative_strength": -19.679787, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -61.125391, "energy": 47.847272, "activity_lines": [ 16.935198, 17.092305, 17.388769, 17.668171 ] }, { "date": "2024-10-11", "close": 16.478618, "volume": 309074, "typical_volume": 398809.8, "trend": 17.900171, "fair_value": 20.180984, "relative_strength": -21.268119, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -66.419822, "energy": 62.771325, "activity_lines": [ 16.70769, 16.95756, 17.269999, 17.572897 ] }, { "date": "2024-10-18", "close": 16.135082, "volume": 447699, "typical_volume": 403422.7, "trend": 17.840385, "fair_value": 20.153315, "relative_strength": -22.667782, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -74.783914, "energy": 73.591996, "activity_lines": [ 16.473677, 16.781808, 17.127463, 17.45902 ] }, { "date": "2024-10-25", "close": 16.550225, "volume": 339445, "typical_volume": 412214.6, "trend": 17.807266, "fair_value": 20.127933, "relative_strength": -18.886023, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -61.852628, "energy": 63.529997, "activity_lines": [ 16.458234, 16.710241, 17.035732, 17.375784 ] }, { "date": "2024-11-01", "close": 16.612881, "volume": 419252, "typical_volume": 420062.5, "trend": 17.751472, "fair_value": 20.108706, "relative_strength": -16.65206, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -60.13505, "energy": 59.687315, "activity_lines": [ 16.494109, 16.661438, 16.959443, 17.298727 ] }, { "date": "2024-11-08", "close": 15.51192, "volume": 518793, "typical_volume": 437292.65, "trend": 17.641973, "fair_value": 20.083574, "relative_strength": -24.828607, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -80.661263, "energy": 69.666336, "activity_lines": [ 16.160705, 16.41604, 16.789256, 17.15424 ] }, { "date": "2024-11-15", "close": 15.854024, "volume": 179817, "typical_volume": 432303.3, "trend": 17.531644, "fair_value": 20.055454, "relative_strength": -20.807499, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -68.004834, "energy": 61.692297, "activity_lines": [ 16.026132, 16.260509, 16.667974, 17.038888 ] }, { "date": "2024-11-22", "close": 15.253149, "volume": 230046, "typical_volume": 433994.55, "trend": 17.410237, "fair_value": 20.022385, "relative_strength": -24.31, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -78.725287, "energy": 76.119615, "activity_lines": [ 15.732906, 16.036541, 16.501817, 16.891888 ] }, { "date": "2024-11-29", "close": 15.100178, "volume": 145647, "typical_volume": 427308.65, "trend": 17.289997, "fair_value": 19.984254, "relative_strength": -25.268741, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -76.566655, "energy": 83.237387, "activity_lines": [ 15.447485, 15.822664, 16.336987, 16.742852 ] }, { "date": "2024-12-06", "close": 15.210453, "volume": 275514, "typical_volume": 427088.35, "trend": 17.17552, "fair_value": 19.952271, "relative_strength": -24.673419, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -69.758476, "energy": 82.498103, "activity_lines": [ 15.295493, 15.663503, 16.195158, 16.608688 ] }, { "date": "2024-12-13", "close": 15.279196, "volume": 344760, "typical_volume": 404784.6, "trend": 17.083326, "fair_value": 19.916752, "relative_strength": -23.345121, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -66.756836, "energy": 81.866008, "activity_lines": [ 15.25991, 15.541713, 16.070135, 16.486345 ] }, { "date": "2024-12-20", "close": 15.70884, "volume": 651595, "typical_volume": 405214.9, "trend": 16.99501, "fair_value": 19.887389, "relative_strength": -19.24103, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -63.463719, "energy": 60.96521, "activity_lines": [ 15.383057, 15.525398, 15.993915, 16.397668 ] }, { "date": "2024-12-27", "close": 15.664792, "volume": 289156, "typical_volume": 392066.5, "trend": 16.900453, "fair_value": 19.858789, "relative_strength": -19.509293, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -58.986781, "energy": 47.177839, "activity_lines": [ 15.501199, 15.51507, 15.922785, 16.311848 ] }, { "date": "2025-01-03", "close": 15.613703, "volume": 281633, "typical_volume": 386566.4, "trend": 16.802912, "fair_value": 19.830175, "relative_strength": -18.762446, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -45.440747, "energy": 36.273847, "activity_lines": [ 15.57487, 15.504004, 15.856547, 16.228832 ] }, { "date": "2025-01-10", "close": 15.915892, "volume": 243481, "typical_volume": 377094.75, "trend": 16.703, "fair_value": 19.803238, "relative_strength": -14.995837, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -38.535676, "energy": 24.380073, "activity_lines": [ 15.715035, 15.56491, 15.826527, 16.171605 ] }, { "date": "2025-01-17", "close": 15.181907, "volume": 323619, "typical_volume": 383685.05, "trend": 16.577726, "fair_value": 19.765107, "relative_strength": -20.613086, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -52.535584, "energy": 32.135797, "activity_lines": [ 15.563509, 15.505036, 15.730859, 16.073469 ] }, { "date": "2025-01-24", "close": 15.055295, "volume": 384943, "typical_volume": 374314.4, "trend": 16.464642, "fair_value": 19.725381, "relative_strength": -22.027381, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -66.113438, "energy": 42.48446, "activity_lines": [ 15.376265, 15.428141, 15.631951, 15.975248 ] }, { "date": "2025-01-31", "close": 15.278484, "volume": 280495, "typical_volume": 357429.05, "trend": 16.354224, "fair_value": 19.688445, "relative_strength": -19.495517, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -56.652989, "energy": 40.928239, "activity_lines": [ 15.306987, 15.406349, 15.568792, 15.898722 ] }, { "date": "2025-02-07", "close": 15.655231, "volume": 257076, "typical_volume": 339160.2, "trend": 16.28523, "fair_value": 19.656854, "relative_strength": -16.881826, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -55.150568, "energy": 41.006564, "activity_lines": [ 15.389045, 15.452596, 15.55132, 15.853625 ] }, { "date": "2025-02-14", "close": 15.46198, "volume": 339892, "typical_volume": 335162.9, "trend": 16.221805, "fair_value": 19.622455, "relative_strength": -18.599411, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -52.298672, "energy": 35.23008, "activity_lines": [ 15.403918, 15.453614, 15.521879, 15.800513 ] }, { "date": "2025-02-21", "close": 15.684108, "volume": 147705, "typical_volume": 320482.1, "trend": 16.180104, "fair_value": 19.590526, "relative_strength": -15.565256, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -36.82319, "energy": 19.819064, "activity_lines": [ 15.523094, 15.490446, 15.51891, 15.765822 ] }, { "date": "2025-02-28", "close": 16.359664, "volume": 354709, "typical_volume": 322763.85, "trend": 16.136806, "fair_value": 19.561254, "relative_strength": -10.66228, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": 7.652351, "energy": 16.319132, "activity_lines": [ 15.833976, 15.642745, 15.585516, 15.777407 ] }, { "date": "2025-03-07", "close": 16.418093, "volume": 549729, "typical_volume": 327865.35, "trend": 16.093614, "fair_value": 19.528589, "relative_strength": -7.123917, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": 10.296275, "energy": 23.896102, "activity_lines": [ 16.077376, 15.793833, 15.658254, 15.795555 ] }, { "date": "2025-03-14", "close": 16.968582, "volume": 713823, "typical_volume": 346584.25, "trend": 16.086713, "fair_value": 19.508399, "relative_strength": -1.417876, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 42.32853, "energy": 55.481791, "activity_lines": [ 16.428298, 16.031314, 15.782071, 15.852004 ] }, { "date": "2025-03-21", "close": 17.036186, "volume": 518796, "typical_volume": 351561.45, "trend": 16.094259, "fair_value": 19.488956, "relative_strength": -1.239972, "stage": 1, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 41.228911, "energy": 68.279451, "activity_lines": [ 16.714198, 16.256453, 15.910334, 15.91326 ] }, { "date": "2025-03-28", "close": 17.248655, "volume": 514693, "typical_volume": 351356.45, "trend": 16.101428, "fair_value": 19.47207, "relative_strength": 1.675846, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 50.781151, "energy": 75.07243, "activity_lines": [ 16.965974, 16.499853, 16.056817, 15.987738 ] }, { "date": "2025-04-04", "close": 18.65868, "volume": 812628, "typical_volume": 382997.0, "trend": 16.120093, "fair_value": 19.458006, "relative_strength": 20.862227, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "up", "direction": 94.352708, "energy": 94.787154, "activity_lines": [ 17.583456, 16.962045, 16.329318, 16.152722 ] }, { "date": "2025-04-11", "close": 18.542787, "volume": 1714581, "typical_volume": 457223.75, "trend": 16.160256, "fair_value": 19.442675, "relative_strength": 13.845958, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 85.384139, "energy": 93.349927, "activity_lines": [ 18.009038, 17.337648, 16.577426, 16.309024 ] }, { "date": "2025-04-18", "close": 18.629707, "volume": 602735, "typical_volume": 480078.15, "trend": 16.214356, "fair_value": 19.421885, "relative_strength": 16.29461, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 80.194288, "energy": 92.119739, "activity_lines": [ 18.321948, 17.669705, 16.818147, 16.468344 ] }, { "date": "2025-04-25", "close": 18.190281, "volume": 559195, "typical_volume": 494262.2, "trend": 16.268081, "fair_value": 19.393309, "relative_strength": 8.872301, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 67.887453, "energy": 86.37068, "activity_lines": [ 18.377641, 17.867784, 17.000211, 16.595823 ] }, { "date": "2025-05-02", "close": 17.847433, "volume": 616327, "typical_volume": 507840.55, "trend": 16.303534, "fair_value": 19.356936, "relative_strength": 4.149257, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 65.078101, "energy": 62.637479, "activity_lines": [ 18.242111, 17.953922, 17.135433, 16.697716 ] }, { "date": "2025-05-09", "close": 17.654279, "volume": 433043, "typical_volume": 496912.95, "trend": 16.342723, "fair_value": 19.315715, "relative_strength": 3.791891, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 60.540531, "energy": 51.253811, "activity_lines": [ 18.002278, 17.965608, 17.24003, 16.784861 ] }, { "date": "2025-05-16", "close": 16.671414, "volume": 511107, "typical_volume": 508010.5, "trend": 16.360601, "fair_value": 19.266939, "relative_strength": -6.526749, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 35.162168, "energy": 23.709274, "activity_lines": [ 17.501784, 17.775053, 17.241756, 16.806067 ] }, { "date": "2025-05-23", "close": 17.499756, "volume": 423030, "typical_volume": 515080.35, "trend": 16.392252, "fair_value": 19.229541, "relative_strength": 0.991106, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 33.544393, "energy": 25.558599, "activity_lines": [ 17.402161, 17.730499, 17.317579, 16.879561 ] }, { "date": "2025-05-30", "close": 17.161736, "volume": 268347, "typical_volume": 516323.65, "trend": 16.410547, "fair_value": 19.188563, "relative_strength": -2.284477, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 28.151111, "energy": 25.369892, "activity_lines": [ 17.265196, 17.61483, 17.352228, 16.929205 ] }, { "date": "2025-06-06", "close": 16.746455, "volume": 165581, "typical_volume": 508421.75, "trend": 16.451698, "fair_value": 19.137181, "relative_strength": -5.762301, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 15.144666, "energy": 21.287917, "activity_lines": [ 17.058373, 17.421372, 17.341394, 16.950877 ] }, { "date": "2025-06-13", "close": 16.900978, "volume": 250432, "typical_volume": 501696.2, "trend": 16.486596, "fair_value": 19.080982, "relative_strength": -4.118048, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 7.314382, "energy": 13.859833, "activity_lines": [ 16.976456, 17.26514, 17.337826, 16.979863 ] }, { "date": "2025-06-20", "close": 16.852689, "volume": 316252, "typical_volume": 503484.05, "trend": 16.539914, "fair_value": 19.033367, "relative_strength": -3.809814, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 3.109809, "energy": 14.268668, "activity_lines": [ 16.928663, 17.132087, 17.32087, 17.003481 ] }, { "date": "2025-06-27", "close": 16.418093, "volume": 344804, "typical_volume": 507870.45, "trend": 16.583845, "fair_value": 18.974334, "relative_strength": -8.98194, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -7.830333, "energy": 19.671012, "activity_lines": [ 16.72392, 16.950745, 17.255028, 16.995622 ] }, { "date": "2025-07-04", "close": 15.730465, "volume": 136324, "typical_volume": 497692.05, "trend": 16.601179, "fair_value": 18.921409, "relative_strength": -13.752036, "stage": 1, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -42.741747, "energy": 55.262812, "activity_lines": [ 16.362078, 16.684591, 17.120065, 16.940565 ] }, { "date": "2025-07-11", "close": 15.941099, "volume": 333189, "typical_volume": 506966.25, "trend": 16.623242, "fair_value": 18.865074, "relative_strength": -11.979816, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -36.641967, "energy": 61.211872, "activity_lines": [ 16.165866, 16.501458, 17.003884, 16.897979 ] }, { "date": "2025-07-18", "close": 16.234597, "volume": 358067, "typical_volume": 507134.15, "trend": 16.640767, "fair_value": 18.819252, "relative_strength": -10.560349, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -27.30716, "energy": 56.634129, "activity_lines": [ 16.121177, 16.406349, 16.914431, 16.872906 ] }, { "date": "2025-07-25", "close": 15.896577, "volume": 129663, "typical_volume": 486130.85, "trend": 16.648494, "fair_value": 18.771054, "relative_strength": -13.354409, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -41.105194, "energy": 61.701507, "activity_lines": [ 16.00824, 16.275595, 16.793381, 16.824893 ] }, { "date": "2025-08-01", "close": 16.746455, "volume": 908414, "typical_volume": 495860.4, "trend": 16.686252, "fair_value": 18.740912, "relative_strength": -6.04917, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -30.055639, "energy": 28.800678, "activity_lines": [ 16.242336, 16.313451, 16.755756, 16.831213 ] }, { "date": "2025-08-08", "close": 16.572616, "volume": 364618, "typical_volume": 488151.5, "trend": 16.708143, "fair_value": 18.715725, "relative_strength": -8.813117, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -14.997841, "energy": 15.553097, "activity_lines": [ 16.396595, 16.333397, 16.702632, 16.823882 ] }, { "date": "2025-08-15", "close": 16.060758, "volume": 400393, "typical_volume": 482436.5, "trend": 16.737438, "fair_value": 18.679357, "relative_strength": -12.10942, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -22.900885, "energy": 18.951628, "activity_lines": [ 16.324091, 16.270989, 16.602967, 16.782115 ] }, { "date": "2025-08-22", "close": 15.481296, "volume": 464109, "typical_volume": 465010.55, "trend": 16.751638, "fair_value": 18.634357, "relative_strength": -15.164925, "stage": 1, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -73.047293, "energy": 41.71933, "activity_lines": [ 16.050456, 16.115691, 16.453772, 16.701074 ] }, { "date": "2025-08-29", "close": 15.46198, "volume": 292757, "typical_volume": 393919.35, "trend": 16.757754, "fair_value": 18.581961, "relative_strength": -14.853086, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -73.918416, "energy": 67.642197, "activity_lines": [ 15.820603, 15.982694, 16.317868, 16.61787 ] }, { "date": "2025-09-05", "close": 15.282927, "volume": 487005, "typical_volume": 388132.85, "trend": 16.745344, "fair_value": 18.539769, "relative_strength": -15.529676, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -74.340981, "energy": 79.630641, "activity_lines": [ 15.560038, 15.842427, 16.179582, 16.52272 ] }, { "date": "2025-09-12", "close": 15.616504, "volume": 601343, "typical_volume": 390240.25, "trend": 16.750495, "fair_value": 18.490979, "relative_strength": -14.581756, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -63.566705, "energy": 76.257661, "activity_lines": [ 15.508235, 15.78345, 16.089002, 16.449892 ] }, { "date": "2025-09-19", "close": 15.597381, "volume": 229797, "typical_volume": 370913.75, "trend": 16.747604, "fair_value": 18.431237, "relative_strength": -15.330933, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -61.831155, "energy": 67.146088, "activity_lines": [ 15.513797, 15.723069, 16.008857, 16.375497 ] }, { "date": "2025-09-26", "close": 15.693765, "volume": 609123, "typical_volume": 379717.75, "trend": 16.725407, "fair_value": 18.373473, "relative_strength": -14.230051, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -58.008296, "energy": 45.486513, "activity_lines": [ 15.58238, 15.68646, 15.948605, 16.307507 ] }, { "date": "2025-10-03", "close": 15.664792, "volume": 479303, "typical_volume": 378127.55, "trend": 16.700297, "fair_value": 18.319656, "relative_strength": -14.964766, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -53.721181, "energy": 37.729412, "activity_lines": [ 15.62714, 15.654418, 15.894931, 16.239081 ] }, { "date": "2025-10-10", "close": 16.533985, "volume": 828089, "typical_volume": 398380.5, "trend": 16.685811, "fair_value": 18.266755, "relative_strength": -7.798522, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -20.854898, "energy": 14.672168, "activity_lines": [ 15.94811, 15.784625, 15.92883, 16.228351 ] }, { "date": "2025-10-17", "close": 16.118704, "volume": 371827, "typical_volume": 403554.5, "trend": 16.655228, "fair_value": 18.215481, "relative_strength": -11.424689, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -26.739389, "energy": 19.444007, "activity_lines": [ 16.04725, 15.843189, 15.927777, 16.191763 ] }, { "date": "2025-10-24", "close": 15.626161, "volume": 441420, "typical_volume": 417346.45, "trend": 16.601145, "fair_value": 18.168584, "relative_strength": -15.414092, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -36.773518, "energy": 20.607794, "activity_lines": [ 15.948728, 15.820453, 15.884782, 16.125372 ] }, { "date": "2025-10-31", "close": 16.13802, "volume": 427845, "typical_volume": 426217.1, "trend": 16.517123, "fair_value": 18.114244, "relative_strength": -12.904257, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -13.031925, "energy": 13.852457, "activity_lines": [ 16.018908, 15.898684, 15.895871, 16.095493 ] }, { "date": "2025-11-07", "close": 16.53273, "volume": 690537, "typical_volume": 444931.35, "trend": 16.450121, "fair_value": 18.082157, "relative_strength": -9.19609, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": 2.550679, "energy": 9.211577, "activity_lines": [ 16.19104, 16.03674, 15.948184, 16.0965 ] }, { "date": "2025-11-14", "close": 16.611247, "volume": 301897, "typical_volume": 442786.0, "trend": 16.382839, "fair_value": 18.041627, "relative_strength": -8.722334, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": 6.679996, "energy": 15.040271, "activity_lines": [ 16.331483, 16.169604, 16.009498, 16.106895 ] }, { "date": "2025-11-21", "close": 16.823716, "volume": 1063994, "typical_volume": 489169.5, "trend": 16.337287, "fair_value": 18.004234, "relative_strength": -5.718797, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 31.241893, "energy": 43.259962, "activity_lines": [ 16.537597, 16.316947, 16.090128, 16.135339 ] }, { "date": "2025-11-28", "close": 16.3022, "volume": 672645, "typical_volume": 506142.3, "trend": 16.285779, "fair_value": 17.968289, "relative_strength": -11.803435, "stage": 4, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 18.812242, "energy": 38.84077, "activity_lines": [ 16.522872, 16.34752, 16.115884, 16.133075 ] }, { "date": "2025-12-05", "close": 15.983496, "volume": 474752, "typical_volume": 511976.55, "trend": 16.230086, "fair_value": 17.924415, "relative_strength": -13.693881, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 8.77404, "energy": 14.700331, "activity_lines": [ 16.356843, 16.307331, 16.109567, 16.113573 ] }, { "date": "2025-12-12", "close": 15.684108, "volume": 794934, "typical_volume": 545240.1, "trend": 16.197176, "fair_value": 17.875378, "relative_strength": -14.665001, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -20.577896, "energy": 11.000995, "activity_lines": [ 16.10132, 16.207441, 16.075933, 16.078348 ] }, { "date": "2025-12-19", "close": 15.877262, "volume": 415639, "typical_volume": 520601.35, "trend": 16.143093, "fair_value": 17.825121, "relative_strength": -13.499512, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -27.98681, "energy": 22.55879, "activity_lines": [ 15.966756, 16.142318, 16.061706, 16.057709 ] }, { "date": "2025-12-26", "close": 15.8221, "volume": 270223, "typical_volume": 515881.6, "trend": 16.098439, "fair_value": 17.776132, "relative_strength": -14.788067, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -32.162859, "energy": 27.579358, "activity_lines": [ 15.862738, 16.079106, 16.046365, 16.037 ] }, { "date": "2026-01-02", "close": 16.15, "volume": 597712, "typical_volume": 525747.55, "trend": 16.078557, "fair_value": 17.731285, "relative_strength": -11.921291, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -7.110908, "energy": 14.307281, "activity_lines": [ 15.934793, 16.080906, 16.065826, 16.040326 ] }, { "date": "2026-01-09", "close": 15.84, "volume": 359550, "typical_volume": 520519.6, "trend": 16.043191, "fair_value": 17.696536, "relative_strength": -14.668002, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -23.242851, "energy": 19.048888, "activity_lines": [ 15.913662, 16.016817, 16.055339, 16.024935 ] }, { "date": "2026-01-16", "close": 16.017, "volume": 224939, "typical_volume": 517128.7, "trend": 16.015334, "fair_value": 17.665015, "relative_strength": -13.255041, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -7.79653, "energy": 7.433468, "activity_lines": [ 15.961097, 15.990329, 16.06, 16.023246 ] }, { "date": "2026-01-23", "close": 16.16, "volume": 326381, "typical_volume": 509097.5, "trend": 16.006731, "fair_value": 17.641734, "relative_strength": -12.070245, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 11.336228, "energy": 7.173665, "activity_lines": [ 16.034007, 15.999217, 16.075638, 16.032579 ] }, { "date": "2026-01-30", "close": 16.42, "volume": 406252, "typical_volume": 499342.95, "trend": 16.029716, "fair_value": 17.629119, "relative_strength": -10.883661, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 44.152668, "energy": 22.381566, "activity_lines": [ 16.174733, 16.063583, 16.111861, 16.059241 ] }, { "date": "2026-02-06", "close": 16.43, "volume": 355979, "typical_volume": 505652.05, "trend": 16.046013, "fair_value": 17.609453, "relative_strength": -10.488712, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 47.111283, "energy": 36.537075, "activity_lines": [ 16.278933, 16.137107, 16.14521, 16.085066 ] }, { "date": "2026-02-13", "close": 16.93, "volume": 338216, "typical_volume": 492106.7, "trend": 16.069193, "fair_value": 17.596079, "relative_strength": -6.508927, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 72.800501, "energy": 65.488371, "activity_lines": [ 16.531133, 16.299217, 16.222214, 16.142098 ] }, { "date": "2026-02-20", "close": 16.745, "volume": 770864, "typical_volume": 506684.75, "trend": 16.097473, "fair_value": 17.576967, "relative_strength": -8.417346, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 65.711478, "energy": 68.566533, "activity_lines": [ 16.649, 16.410481, 16.275711, 16.185698 ] }, { "date": "2026-02-27", "close": 17.17, "volume": 275643, "typical_volume": 479062.45, "trend": 16.111592, "fair_value": 17.562725, "relative_strength": -5.428202, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 79.746911, "energy": 78.828487, "activity_lines": [ 16.86, 16.579729, 16.364541, 16.254893 ] }, { "date": "2026-03-06", "close": 17.45, "volume": 2358963, "typical_volume": 578419.25, "trend": 16.140838, "fair_value": 17.536884, "relative_strength": -1.734212, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 83.358318, "energy": 84.956358, "activity_lines": [ 17.097, 16.776382, 16.477009, 16.341242 ] }, { "date": "2026-03-13", "close": 17.97, "volume": 2130739, "typical_volume": 662885.2, "trend": 16.204479, "fair_value": 17.511603, "relative_strength": 2.988437, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 90.314863, "energy": 93.026287, "activity_lines": [ 17.438667, 17.037982, 16.632661, 16.459253 ] }, { "date": "2026-03-20", "close": 18.2, "volume": 1294364, "typical_volume": 706211.15, "trend": 16.295103, "fair_value": 17.487588, "relative_strength": 6.411838, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 87.81225, "energy": 94.327408, "activity_lines": [ 17.754333, 17.308309, 16.799057, 16.587996 ] }, { "date": "2026-03-27", "close": 18.44, "volume": 1238169, "typical_volume": 733592.75, "trend": 16.39437, "fair_value": 17.47275, "relative_strength": 10.46375, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 84.92373, "energy": 93.469974, "activity_lines": [ 18.065333, 17.579364, 16.978491, 16.726376 ] }, { "date": "2026-04-03", "close": 17.83, "volume": 1470132, "typical_volume": 792004.5, "trend": 16.479272, "fair_value": 17.44992, "relative_strength": 4.041436, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 67.512838, "energy": 84.886667, "activity_lines": [ 18.06, 17.695455, 17.090747, 16.818998 ] }, { "date": "2026-04-10", "close": 17.69, "volume": 1533889, "typical_volume": 815499.25, "trend": 16.548389, "fair_value": 17.428234, "relative_strength": 0.305711, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 64.759342, "energy": 60.424412, "activity_lines": [ 17.964, 17.755727, 17.183867, 16.897109 ] }, { "date": "2026-04-17", "close": 16.39, "volume": 1391759, "typical_volume": 851454.95, "trend": 16.57481, "fair_value": 17.39879, "relative_strength": -10.234855, "stage": 1, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 26.513672, "energy": 24.733598, "activity_lines": [ 17.418667, 17.556545, 17.149052, 16.886891 ] }, { "date": "2026-04-24", "close": 16.94, "volume": 565429, "typical_volume": 855988.8, "trend": 16.616351, "fair_value": 17.372086, "relative_strength": -7.042964, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 31.506826, "energy": 24.73379, "activity_lines": [ 17.162, 17.458091, 17.1662, 16.910451 ] }, { "date": "2026-05-01", "close": 16.85, "volume": 241987, "typical_volume": 828341.45, "trend": 16.655858, "fair_value": 17.341719, "relative_strength": -7.809474, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 19.692686, "energy": 24.675013, "activity_lines": [ 16.959333, 17.343091, 17.170221, 16.925525 ] }, { "date": "2026-05-08", "close": 16.633, "volume": 194392, "typical_volume": 817279.1, "trend": 16.659158, "fair_value": 17.306926, "relative_strength": -10.473179, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 8.712581, "energy": 24.031495, "activity_lines": [ 16.790333, 17.186727, 17.148024, 16.924051 ] }, { "date": "2026-05-15", "close": 17.5999, "volume": 299821, "typical_volume": 818759.0, "trend": 16.708531, "fair_value": 17.283511, "relative_strength": -5.136621, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 34.251956, "energy": 20.797336, "activity_lines": [ 17.023433, 17.215927, 17.214314, 16.984744 ] }, { "date": "2026-05-22", "close": 16.98, "volume": 220712, "typical_volume": 799909.0, "trend": 16.753659, "fair_value": 17.258843, "relative_strength": -8.727079, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 11.461024, "energy": 9.535681, "activity_lines": [ 17.055907, 17.129693, 17.2131, 17.002258 ] }, { "date": "2026-05-29", "close": 16.62, "volume": 242909, "typical_volume": 794076.95, "trend": 16.769725, "fair_value": 17.239035, "relative_strength": -11.431617, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -0.216443, "energy": 6.124771, "activity_lines": [ 16.929047, 16.996004, 17.173649, 16.993635 ] }, { "date": "2026-06-05", "close": 16.68, "volume": 510979, "typical_volume": 808378.95, "trend": 16.774634, "fair_value": 17.223221, "relative_strength": -8.428944, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 2.002473, "energy": 6.030331, "activity_lines": [ 16.84352, 16.901951, 17.136197, 16.987846 ] }, { "date": "2026-06-12", "close": 16.43, "volume": 381555, "typical_volume": 811137.65, "trend": 16.768593, "fair_value": 17.210513, "relative_strength": -9.857004, "stage": 3, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -24.32126, "energy": 30.468162, "activity_lines": [ 16.685993, 16.794444, 17.071778, 16.965611 ] }, { "date": "2026-06-19", "close": 16.94, "volume": 336210, "typical_volume": 807635.55, "trend": 16.772469, "fair_value": 17.195891, "relative_strength": -7.482354, "stage": 3, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -13.856518, "energy": 24.420447, "activity_lines": [ 16.712, 16.805118, 17.054645, 16.97667 ] }, { "date": "2026-06-26", "close": 16.47, "volume": 251355, "typical_volume": 802404.35, "trend": 16.778062, "fair_value": 17.183178, "relative_strength": -7.539837, "stage": 3, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -21.894008, "energy": 26.328513, "activity_lines": [ 16.625333, 16.743975, 16.990274, 16.957156 ] }, { "date": "2026-07-03", "close": 15.97, "volume": 194773, "typical_volume": 795232.2, "trend": 16.777612, "fair_value": 17.167312, "relative_strength": -11.97103, "stage": 3, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -42.247476, "energy": 41.800283, "activity_lines": [ 16.406, 16.590467, 16.878094, 16.905023 ] }, { "date": "2026-07-10", "close": 16.03, "volume": 247321, "typical_volume": 769055.05, "trend": 16.789142, "fair_value": 17.158893, "relative_strength": -12.51208, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -37.303908, "energy": 42.408598, "activity_lines": [ 16.25, 16.465505, 16.776199, 16.85679 ] }, { "date": "2026-07-17", "close": 15.7407, "volume": 208936, "typical_volume": 765719.7, "trend": 16.78459, "fair_value": 17.152283, "relative_strength": -12.397854, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -44.922692, "energy": 59.777742, "activity_lines": [ 16.0409, 16.302853, 16.650157, 16.789148 ] }, { "date": "2026-07-24", "close": 15.9425, "volume": 257949, "typical_volume": 660669.0, "trend": 16.788603, "fair_value": 17.146913, "relative_strength": -10.491203, "stage": 4, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -62.819674, "energy": 69.145479, "activity_lines": [ 15.94502, 16.193115, 16.55014, 16.73482 ] }, { "date": "2026-07-31", "close": 15.13, "volume": 658907, "typical_volume": 587077.4, "trend": 16.754603, "fair_value": 17.135289, "relative_strength": -15.503502, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -80.474262, "energy": 76.746574, "activity_lines": [ 15.644807, 15.965784, 16.37992, 16.627813 ] }, { "date": "2026-08-07", "close": 14.27, "volume": 524073, "typical_volume": 548562.85, "trend": 16.70227, "fair_value": 17.115857, "relative_strength": -22.522169, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -89.704547, "energy": 88.076134, "activity_lines": [ 15.14726, 15.615725, 16.14132, 16.467516 ] } ], "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." } } }