{ "ticker": { "uuid": "a4ec3952-54e7-4a71-9189-62a8304dabee", "symbol": "XCNY", "name": "SPDR S&P EMERGING MARKETS EX-CHINA ETF", "exchange": "NASDAQ", "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": "QQQ", "stage": 2, "stage_name": "Advancing", "phase": "2b", "phase_label": "Stage 2B \u00b7 Advancing", "transition": "stage_2_healthy", "transition_label": "Stage 2 trend intact", "confidence": 88.19, "architecture_regime": "deceleration", "architecture_regime_label": "Deceleration", "architecture_modifier": "Recompressing", "architecture_gate": "up", "architecture_direction": 44.243, "architecture_energy": 23.266, "architecture_maturity": 59.203, "architecture_confidence": 82.034, "architecture_tenure": "New", "architecture": { "interpretation": { "headline": "The upward structure remains, but its energy is decelerating.", "body": "Trend remains positive, but Activity or price acceptance is losing strength. This can become a healthy recompression, a re-acceleration, or a Rotation Down." }, "scores": { "balance": 43.63, "rotation_up": 28.82, "upward_expansion": 57.25, "deceleration": 88.11, "rotation_down": 28.58, "downward_expansion": 18.58 }, "activity_lines": [ 32.58442, 32.745141, 32.550173, 31.956816 ], "activity_state": "Compressed", "activity_direction": "Contracting", "rotation_direction": "Weakening", "price_acceptance": 0.333333 }, "latest_close": 33.2151, "trend_reference": 31.235687, "distance_from_trend": 0.06337, "trend_direction": "Improving", "fair_value": 26.817704, "distance_from_fair_value": 0.238551, "fair_value_direction": "Weakening", "relative_strength": -1.251783, "relative_strength_direction": "Improving", "price_momentum": 0.096389, "excess_performance": -0.091065, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.06337, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.057125, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.238551, "read": "Premium" }, { "label": "Fair Value direction", "positive": false, "value": -0.024193, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.012518, "read": "Lagging" }, { "label": "Relative strength direction", "positive": true, "value": 0.000344, "read": "Improving" }, { "label": "Price momentum", "positive": true, "value": 0.096389, "read": "Positive" }, { "label": "Volume balance", "positive": true, "value": 1.075456, "read": "Demand-led" } ], "volume": { "latest": 1687, "relative_activity": 0.632534, "balance": 1.075456, "dry_up": 0.622317, "accumulation_observations": 2, "distribution_observations": 3 }, "risk": { "range_context": 0.036126, "annualized_volatility": 0.221611, "from_high_reference": -0.037522, "from_low_reference": 0.310658 }, "levels": { "trend_reference": 31.235687, "fair_value_reference": 26.817704, "structural_low": 27.8081, "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis." }, "outcomes": [ { "horizon": "Near term", "sample_count": 2, "median_return": 0.074552, "positive_rate": 1.0, "directional_follow_through": 1.0, "median_excess_return": -0.022015, "regime_survival": 0.5, "best_return": 0.078271, "worst_return": 0.070833, "sufficient": false }, { "horizon": "Intermediate", "sample_count": 1, "median_return": 0.156699, "positive_rate": 1.0, "directional_follow_through": 1.0, "median_excess_return": -0.058425, "regime_survival": 0.0, "best_return": 0.156699, "worst_return": 0.156699, "sufficient": false }, { "horizon": "Extended", "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 }, { "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": "deceleration", "label": "Deceleration", "color": "amber", "start": "2026-03-13", "end": "2026-04-17", "tenure": "Developing", "return": 0.123862, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-04-24", "end": "2026-07-24", "tenure": "Established", "return": 0.010294, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2026-07-31", "end": "2026-08-07", "tenure": "New", "return": 0.029769, "active": true } ], "chart_path": [ { "date": "2024-09-06", "close": 23.806985, "volume": 101, "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": 24.490074, "volume": 223, "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": 24.815648, "volume": 19450, "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": 25.336815, "volume": 6207, "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": 24.507584, "volume": 4039, "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": 24.682878, "volume": 45354, "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": 24.79275, "volume": 3079, "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": 24.29294, "volume": 1361, "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": 24.042795, "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": "2024-11-08", "close": 24.159113, "volume": 218, "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": 23.369328, "volume": 201, "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": 23.73656, "volume": 94, "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": 23.667578, "volume": 592, "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": 24.207795, "volume": 180, "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": 24.162576, "volume": 34561, "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": 23.518453, "volume": 69899, "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": 23.452633, "volume": 6901, "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": 23.564548, "volume": 70799, "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": 22.942159, "volume": 85920, "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": 23.228997, "volume": 4847, "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": 23.462356, "volume": 3447, "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": 23.190103, "volume": 5677, "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": 23.248443, "volume": 1039, "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": 23.258167, "volume": 664, "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": 23.15121, "volume": 499, "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": 22.246942, "volume": 2387, "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": 22.775793, "volume": 4328, "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": 22.752554, "volume": 11301, "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": 23.033169, "volume": 2952, "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": 22.713661, "volume": 356, "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": 21.119038, "volume": 966, "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": 21.79967, "volume": 18775, "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": 22.227495, "volume": 32388, "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": 22.869234, "volume": 17607, "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": 23.797811, "volume": 8981, "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": 23.812395, "volume": 8820, "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": 24.67777, "volume": 1676, "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": 24.580537, "volume": 1722, "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": 24.298561, "volume": 3242, "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": 24.79445, "volume": 855, "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": 24.787255, "volume": 6172, "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": 24.541644, "volume": 3097, "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": 25.597999, "volume": 1213, "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": 26.035614, "volume": 506, "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": 25.583248, "volume": 17765, "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": 25.784846, "volume": 10626, "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": 25.853684, "volume": 18685, "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": 25.344675, "volume": 2813, "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": 25.681589, "volume": 2733, "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": 25.92744, "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": "2025-08-22", "close": 26.093832, "volume": 832, "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": 25.632419, "volume": 3149, "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": 25.969923, "volume": 7336, "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": 26.555933, "volume": 5730, "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": 27.029442, "volume": 5392, "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": 26.738748, "volume": 2654, "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": 27.151777, "volume": 6950, "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": 26.489553, "volume": 8227, "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": 27.414445, "volume": 5847, "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": 27.735329, "volume": 2647, "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": 27.759029, "volume": 1459, "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": 27.387794, "volume": 3056, "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": 27.591457, "volume": 3369, "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": 26.857543, "volume": 1804, "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": 27.481316, "volume": 1554, "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": 27.466467, "volume": 5830, "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": 27.399398, "volume": 7257, "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": 27.654395, "volume": 2240, "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": 28.04, "volume": 930, "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": "2026-01-02", "close": 28.5331, "volume": 5166, "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": "2026-01-09", "close": 28.81, "volume": 3945, "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": "2026-01-16", "close": 29.17, "volume": 15216, "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": "2026-01-23", "close": 29.65, "volume": 4998, "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": "2026-01-30", "close": 29.5409, "volume": 16677, "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": "2026-02-06", "close": 30.295, "volume": 26041, "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": "2026-02-13", "close": 30.75, "volume": 1393, "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": "2026-02-20", "close": 31.1131, "volume": 425, "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": "2026-02-27", "close": 31.1406, "volume": 23890, "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": "2026-03-06", "close": 29.015, "volume": 62739, "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": "2026-03-13", "close": 28.3823, "volume": 18839, "typical_volume": 10341.4, "trend": 28.028293, "fair_value": 25.50718, "relative_strength": 2.214585, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 35.953091, "energy": 33.690216, "activity_lines": [ 29.624633, 29.856602, 29.268803, 28.752595 ] }, { "date": "2026-03-20", "close": 28.0128, "volume": 5798, "typical_volume": 10558.35, "trend": 28.092259, "fair_value": 25.538113, "relative_strength": 2.905464, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 9.364372, "energy": 23.692635, "activity_lines": [ 28.9355, 29.534076, 29.203177, 28.751595 ] }, { "date": "2026-03-27", "close": 27.9676, "volume": 12932, "typical_volume": 11052.15, "trend": 28.170098, "fair_value": 25.567741, "relative_strength": 6.119068, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 1.657109, "energy": 29.335302, "activity_lines": [ 28.41378, 29.217827, 29.132038, 28.743553 ] }, { "date": "2026-04-03", "close": 28.7222, "volume": 2775, "typical_volume": 11022.45, "trend": 28.261841, "fair_value": 25.605747, "relative_strength": 4.856768, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 1.362146, "energy": 27.267597, "activity_lines": [ 28.353293, 29.06064, 29.130005, 28.779172 ] }, { "date": "2026-04-10", "close": 30.6038, "volume": 1639, "typical_volume": 11014.2, "trend": 28.39677, "fair_value": 25.665247, "relative_strength": 6.873359, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 36.310498, "energy": 22.613338, "activity_lines": [ 29.081233, 29.262431, 29.301787, 28.930266 ] }, { "date": "2026-04-17", "close": 31.8978, "volume": 723, "typical_volume": 10972.65, "trend": 28.559048, "fair_value": 25.738571, "relative_strength": 4.954971, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 74.831769, "energy": 47.350692, "activity_lines": [ 30.134587, 29.680169, 29.578968, 29.156139 ] }, { "date": "2026-04-24", "close": 31.664639, "volume": 1077, "typical_volume": 10735.0, "trend": 28.723245, "fair_value": 25.807479, "relative_strength": 1.978021, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 73.784243, "energy": 74.273398, "activity_lines": [ 30.875853, 30.026373, 29.812913, 29.3565 ] }, { "date": "2026-05-01", "close": 31.618212, "volume": 731, "typical_volume": 10408.7, "trend": 28.872126, "fair_value": 25.874269, "relative_strength": 0.358214, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 68.809866, "energy": 80.856376, "activity_lines": [ 31.358188, 30.347505, 30.022444, 29.543272 ] }, { "date": "2026-05-08", "close": 32.771551, "volume": 705, "typical_volume": 10331.95, "trend": 29.081526, "fair_value": 25.952647, "relative_strength": -1.28617, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 82.118679, "energy": 89.223628, "activity_lines": [ 31.981595, 30.869151, 30.321728, 29.794848 ] }, { "date": "2026-05-15", "close": 31.523076, "volume": 5540, "typical_volume": 10562.45, "trend": 29.21848, "fair_value": 26.015236, "relative_strength": -4.619717, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 65.536538, "energy": 78.080613, "activity_lines": [ 31.918887, 31.134149, 30.477742, 29.952367 ] }, { "date": "2026-05-22", "close": 32.199247, "volume": 1974, "typical_volume": 10402.85, "trend": 29.367277, "fair_value": 26.083948, "relative_strength": -3.600778, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 68.262882, "energy": 65.325296, "activity_lines": [ 32.020284, 31.476485, 30.681567, 30.144675 ] }, { "date": "2026-05-29", "close": 33.17392, "volume": 1014, "typical_volume": 10256.3, "trend": 29.547774, "fair_value": 26.161859, "relative_strength": -3.394975, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 78.968488, "energy": 62.866984, "activity_lines": [ 32.426475, 31.926636, 30.96076, 30.390265 ] }, { "date": "2026-06-05", "close": 31.879117, "volume": 3738, "typical_volume": 9682.4, "trend": 29.697485, "fair_value": 26.224004, "relative_strength": -2.717275, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 61.642054, "energy": 50.643394, "activity_lines": [ 32.300447, 32.047529, 31.095858, 30.540674 ] }, { "date": "2026-06-12", "close": 32.829784, "volume": 4005, "typical_volume": 9632.75, "trend": 29.872096, "fair_value": 26.295033, "relative_strength": -2.008347, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 69.30536, "energy": 54.322307, "activity_lines": [ 32.473915, 32.270152, 31.308595, 30.742758 ] }, { "date": "2026-06-19", "close": 34.103853, "volume": 226, "typical_volume": 8810.2, "trend": 30.113639, "fair_value": 26.378106, "relative_strength": -0.826321, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 81.826712, "energy": 69.782283, "activity_lines": [ 33.068189, 32.649741, 31.627531, 31.015774 ] }, { "date": "2026-06-26", "close": 32.8643, "volume": 3807, "typical_volume": 7698.5, "trend": 30.293072, "fair_value": 26.446382, "relative_strength": 0.086295, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 61.695664, "energy": 51.218237, "activity_lines": [ 33.077228, 32.740319, 31.806685, 31.193236 ] }, { "date": "2026-07-03", "close": 33.1213, "volume": 1306, "typical_volume": 7694.15, "trend": 30.481566, "fair_value": 26.515912, "relative_strength": 0.029087, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 60.626819, "energy": 51.145221, "activity_lines": [ 33.127596, 32.860052, 31.998081, 31.375703 ] }, { "date": "2026-07-10", "close": 33.5004, "volume": 4510, "typical_volume": 7898.4, "trend": 30.684933, "fair_value": 26.587917, "relative_strength": -0.619844, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 65.047913, "energy": 56.498808, "activity_lines": [ 33.307839, 33.022227, 32.214289, 31.570466 ] }, { "date": "2026-07-17", "close": 32.0995, "volume": 894, "typical_volume": 6748.6, "trend": 30.833103, "fair_value": 26.644158, "relative_strength": -0.644786, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 55.271574, "energy": 37.964368, "activity_lines": [ 32.91303, 32.895472, 32.285711, 31.661728 ] }, { "date": "2026-07-24", "close": 31.9906, "volume": 1805, "typical_volume": 3701.9, "trend": 30.96479, "fair_value": 26.698162, "relative_strength": 0.585433, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 39.807712, "energy": 25.558254, "activity_lines": [ 32.530607, 32.761135, 32.342194, 31.736406 ] }, { "date": "2026-07-31", "close": 32.2549, "volume": 2253, "typical_volume": 2872.6, "trend": 31.08885, "fair_value": 26.75373, "relative_strength": 0.822323, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 33.890046, "energy": 18.711274, "activity_lines": [ 32.377167, 32.666353, 32.40968, 31.819639 ] }, { "date": "2026-08-07", "close": 33.2151, "volume": 1687, "typical_volume": 2667.05, "trend": 31.235687, "fair_value": 26.817704, "relative_strength": -1.251783, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 44.243319, "energy": 23.266178, "activity_lines": [ 32.58442, 32.745141, 32.550173, 31.956816 ] } ], "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." } } }