{ "ticker": { "uuid": "a6b32d2d-e1f6-4840-811c-86c791f40000", "symbol": "SUM", "name": "Summerset Group Holdings Limited", "exchange": "NZE", "country": "NZ", "assetType": "equity" }, "methodBoundary": "Trend Architecture is a weekly structural classification, not a forecast, probability of return, recommendation or execution signal. Confidence measures geometric agreement and external confirmation only.", "analysis": { "eligible": true, "as_of": "2026-08-07", "benchmark": "^NZ50", "stage": 4, "stage_name": "Declining", "phase": "4b", "phase_label": "Stage 4B \u00b7 Declining", "transition": "stage_4_declining", "transition_label": "Stage 4 decline intact", "confidence": 96.0, "architecture_regime": "downward_expansion", "architecture_regime_label": "Downward Expansion", "architecture_modifier": "Established contraction", "architecture_gate": "down", "architecture_direction": -34.283, "architecture_energy": 26.162, "architecture_maturity": 65.448, "architecture_confidence": 65.668, "architecture_tenure": "Established", "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": 53.85, "rotation_up": 19.93, "upward_expansion": 13.3, "deceleration": 65.16, "rotation_down": 38.56, "downward_expansion": 58.63 }, "activity_lines": [ 8.382, 8.45, 8.325333, 8.581241 ], "activity_state": "Compressed", "activity_direction": "Contracting", "rotation_direction": "Improving", "price_acceptance": -0.166667 }, "latest_close": 8.42, "trend_reference": 9.166087, "distance_from_trend": -0.081396, "trend_direction": "Weakening", "fair_value": 10.523053, "distance_from_fair_value": -0.199852, "fair_value_direction": "Improving", "relative_strength": -19.832708, "relative_strength_direction": "Improving", "price_momentum": -0.238531, "excess_performance": -0.266804, "evidence": [ { "label": "Price vs Trend", "positive": false, "value": -0.081396, "read": "Below" }, { "label": "Trend direction", "positive": false, "value": -0.117613, "read": "Falling" }, { "label": "Price vs current Fair Value", "positive": false, "value": -0.199852, "read": "Below anchor" }, { "label": "Fair Value direction", "positive": true, "value": 0.052162, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.198327, "read": "Lagging" }, { "label": "Relative strength direction", "positive": true, "value": 0.073135, "read": "Improving" }, { "label": "Price momentum", "positive": false, "value": -0.238531, "read": "Negative" }, { "label": "Volume balance", "positive": true, "value": 1.423664, "read": "Demand-led" } ], "volume": { "latest": 1181241, "relative_activity": 0.987029, "balance": 1.423664, "dry_up": 0.853194, "accumulation_observations": 2, "distribution_observations": 1 }, "risk": { "range_context": 0.0592, "annualized_volatility": 0.296636, "from_high_reference": -0.333714, "from_low_reference": 0.196023 }, "levels": { "trend_reference": 9.166087, "fair_value_reference": 10.523053, "structural_low": 7.04, "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": 28, "median_return": 0.002753, "positive_rate": 0.535714, "directional_follow_through": 0.464286, "median_excess_return": -0.00858, "regime_survival": 0.785714, "best_return": 0.208511, "worst_return": -0.096567, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 10, "median_return": -0.009249, "positive_rate": 0.5, "directional_follow_through": 0.5, "median_excess_return": -0.017731, "regime_survival": 0.5, "best_return": 0.28776, "worst_return": -0.169618, "sufficient": true }, { "horizon": "Extended", "sample_count": 5, "median_return": 0.061521, "positive_rate": 0.6, "directional_follow_through": 0.4, "median_excess_return": -0.058964, "regime_survival": 0.4, "best_return": 0.416644, "worst_return": -0.185041, "sufficient": true }, { "horizon": "Full cycle", "sample_count": 4, "median_return": -0.04653, "positive_rate": 0.5, "directional_follow_through": 0.5, "median_excess_return": -0.023808, "regime_survival": 0.75, "best_return": 0.249166, "worst_return": -0.218627, "sufficient": false } ], "ledger": [ { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2024-08-09", "end": "2024-09-06", "tenure": "Developing", "return": 0.081306, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2024-09-13", "end": "2025-01-31", "tenure": "Established", "return": 0.093356, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2025-02-07", "end": "2025-03-14", "tenure": "Developing", "return": -0.082865, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2025-03-21", "end": "2025-04-04", "tenure": "New", "return": -0.029126, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-04-11", "end": "2025-07-04", "tenure": "Established", "return": 0.041667, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-07-11", "end": "2025-08-29", "tenure": "Developing", "return": -0.05503, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-09-05", "end": "2025-10-03", "tenure": "Developing", "return": 0.036812, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-10-10", "end": "2025-10-24", "tenure": "New", "return": 0.025862, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-10-31", "end": "2025-12-26", "tenure": "Developing", "return": 0.058621, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2026-01-02", "end": "2026-01-09", "tenure": "New", "return": 0.013019, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-01-16", "end": "2026-01-30", "tenure": "New", "return": -0.066935, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-02-06", "end": "2026-02-13", "tenure": "New", "return": -0.03125, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2026-02-20", "end": "2026-03-20", "tenure": "Developing", "return": -0.09516, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2026-03-27", "end": "2026-08-07", "tenure": "Established", "return": -0.096567, "active": true } ], "chart_path": [ { "date": "2023-08-18", "close": 9.304715, "volume": 263846, "typical_volume": 835610.1, "trend": 8.646014, "fair_value": 10.216543, "relative_strength": 5.850758, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 50.674071, "energy": 45.501391, "activity_lines": [ 9.421297, 9.422204, 9.028402, 8.798445 ] }, { "date": "2023-08-25", "close": 9.32342, "volume": 919439, "typical_volume": 859196.6, "trend": 8.651228, "fair_value": 10.226586, "relative_strength": 7.536759, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 46.517746, "energy": 38.754316, "activity_lines": [ 9.370176, 9.425265, 9.091191, 8.842149 ] }, { "date": "2023-09-01", "close": 9.632018, "volume": 3582540, "typical_volume": 1007099.3, "trend": 8.672884, "fair_value": 10.239355, "relative_strength": 10.61468, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 55.600171, "energy": 40.414095, "activity_lines": [ 9.438754, 9.470492, 9.178115, 8.905426 ] }, { "date": "2023-09-08", "close": 9.361466, "volume": 735890, "typical_volume": 993218.6, "trend": 8.677828, "fair_value": 10.250505, "relative_strength": 9.397147, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 43.422631, "energy": 34.239822, "activity_lines": [ 9.416524, 9.453946, 9.230811, 8.94985 ] }, { "date": "2023-09-15", "close": 9.172344, "volume": 649408, "typical_volume": 957030.3, "trend": 8.691238, "fair_value": 10.259465, "relative_strength": 7.323111, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 40.484016, "energy": 29.082783, "activity_lines": [ 9.34368, 9.395861, 9.257255, 8.981754 ] }, { "date": "2023-09-22", "close": 9.44657, "volume": 642008, "typical_volume": 969850.7, "trend": 8.707635, "fair_value": 10.270125, "relative_strength": 10.403912, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 45.477493, "energy": 31.680181, "activity_lines": [ 9.372939, 9.392593, 9.302386, 9.030486 ] }, { "date": "2023-09-29", "close": 9.645147, "volume": 486477, "typical_volume": 908379.6, "trend": 8.751884, "fair_value": 10.279932, "relative_strength": 13.617154, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 63.74356, "energy": 37.81669, "activity_lines": [ 9.458933, 9.431352, 9.357604, 9.09097 ] }, { "date": "2023-10-06", "close": 9.181802, "volume": 599233, "typical_volume": 879914.75, "trend": 8.786751, "fair_value": 10.282917, "relative_strength": 8.372601, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 39.240854, "energy": 24.038966, "activity_lines": [ 9.369031, 9.384608, 9.35928, 9.118707 ] }, { "date": "2023-10-13", "close": 9.295276, "volume": 402005, "typical_volume": 862686.9, "trend": 8.821972, "fair_value": 10.28318, "relative_strength": 9.952109, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 28.311885, "energy": 21.169516, "activity_lines": [ 9.346968, 9.36651, 9.368429, 9.151515 ] }, { "date": "2023-10-20", "close": 9.219626, "volume": 1227377, "typical_volume": 829790.35, "trend": 8.859659, "fair_value": 10.281924, "relative_strength": 11.701657, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 24.265955, "energy": 15.381888, "activity_lines": [ 9.3041, 9.339251, 9.365833, 9.17717 ] }, { "date": "2023-10-27", "close": 9.172344, "volume": 1750675, "typical_volume": 881407.15, "trend": 8.891094, "fair_value": 10.28094, "relative_strength": 13.337061, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 14.912668, "energy": 14.558441, "activity_lines": [ 9.24232, 9.305452, 9.354863, 9.197343 ] }, { "date": "2023-11-03", "close": 9.247994, "volume": 921275, "typical_volume": 833697.35, "trend": 8.925362, "fair_value": 10.279865, "relative_strength": 10.620988, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 14.800735, "energy": 12.055571, "activity_lines": [ 9.224039, 9.287814, 9.347453, 9.220369 ] }, { "date": "2023-11-10", "close": 9.361466, "volume": 891641, "typical_volume": 849265.8, "trend": 8.97557, "fair_value": 10.278771, "relative_strength": 11.628022, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 17.233547, "energy": 10.609118, "activity_lines": [ 9.270058, 9.292179, 9.347558, 9.248505 ] }, { "date": "2023-11-17", "close": 9.25745, "volume": 2413945, "typical_volume": 937554.45, "trend": 9.029791, "fair_value": 10.2777, "relative_strength": 9.919328, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 14.219431, "energy": 7.594527, "activity_lines": [ 9.269427, 9.282551, 9.33575, 9.266691 ] }, { "date": "2023-11-24", "close": 9.030506, "volume": 2640108, "typical_volume": 1036457.45, "trend": 9.077072, "fair_value": 10.273795, "relative_strength": 6.702393, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -0.161013, "energy": 4.93508, "activity_lines": [ 9.195671, 9.233552, 9.30095, 9.266737 ] }, { "date": "2023-12-01", "close": 8.888665, "volume": 11778301, "typical_volume": 1600933.7, "trend": 9.120247, "fair_value": 10.267773, "relative_strength": 3.527882, "stage": 1, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -26.982956, "energy": 25.298049, "activity_lines": [ 9.087242, 9.161342, 9.254615, 9.254581 ] }, { "date": "2023-12-08", "close": 8.775192, "volume": 1670586, "typical_volume": 1654660.8, "trend": 9.157147, "fair_value": 10.260564, "relative_strength": 1.028433, "stage": 1, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -40.421631, "energy": 49.882655, "activity_lines": [ 8.9599, 9.078645, 9.201681, 9.23232 ] }, { "date": "2023-12-15", "close": 9.550587, "volume": 1054159, "typical_volume": 1677119.2, "trend": 9.192773, "fair_value": 10.256543, "relative_strength": 9.143641, "stage": 1, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -3.605421, "energy": 17.549274, "activity_lines": [ 9.122544, 9.152746, 9.226407, 9.257703 ] }, { "date": "2023-12-22", "close": 9.597867, "volume": 1093238, "typical_volume": 1703051.5, "trend": 9.234652, "fair_value": 10.248514, "relative_strength": 8.621479, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 14.056664, "energy": 7.377762, "activity_lines": [ 9.28834, 9.228738, 9.255979, 9.283838 ] }, { "date": "2023-12-29", "close": 9.692429, "volume": 127276, "typical_volume": 1692471.35, "trend": 9.2775, "fair_value": 10.238505, "relative_strength": 8.118809, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 49.776388, "energy": 32.689734, "activity_lines": [ 9.462962, 9.316422, 9.294319, 9.313372 ] }, { "date": "2024-01-05", "close": 9.739708, "volume": 301710, "typical_volume": 1694364.55, "trend": 9.321925, "fair_value": 10.228282, "relative_strength": 8.599264, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 54.296539, "energy": 44.377172, "activity_lines": [ 9.609215, 9.404105, 9.335449, 9.343192 ] }, { "date": "2024-01-12", "close": 10.571838, "volume": 963704, "typical_volume": 1696577.8, "trend": 9.389099, "fair_value": 10.227359, "relative_strength": 16.251939, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 86.812091, "energy": 81.963947, "activity_lines": [ 9.976109, 9.632769, 9.453758, 9.423832 ] }, { "date": "2024-01-19", "close": 9.881549, "volume": 565004, "typical_volume": 1545701.0, "trend": 9.420484, "fair_value": 10.219424, "relative_strength": 10.155943, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 63.106597, "energy": 71.655762, "activity_lines": [ 9.99313, 9.711856, 9.50038, 9.455602 ] }, { "date": "2024-01-26", "close": 10.21251, "volume": 531707, "typical_volume": 1535491.85, "trend": 9.461966, "fair_value": 10.214933, "relative_strength": 11.567607, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 68.952034, "energy": 72.827516, "activity_lines": [ 10.098407, 9.841661, 9.577334, 9.506701 ] }, { "date": "2024-02-02", "close": 10.49619, "volume": 888308, "typical_volume": 1547436.85, "trend": 9.497006, "fair_value": 10.210939, "relative_strength": 13.720042, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 75.340995, "energy": 75.888515, "activity_lines": [ 10.257268, 10.00568, 9.677253, 9.573425 ] }, { "date": "2024-02-09", "close": 10.562383, "volume": 1455565, "typical_volume": 1588114.7, "trend": 9.523342, "fair_value": 10.204092, "relative_strength": 14.714108, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 72.335822, "energy": 65.252083, "activity_lines": [ 10.384609, 10.155086, 9.777172, 9.642159 ] }, { "date": "2024-02-16", "close": 10.590751, "volume": 2208810, "typical_volume": 1674231.35, "trend": 9.55717, "fair_value": 10.197944, "relative_strength": 15.860569, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 71.148189, "energy": 72.571793, "activity_lines": [ 10.466562, 10.279218, 9.874479, 9.711024 ] }, { "date": "2024-02-23", "close": 10.165229, "volume": 2802099, "typical_volume": 1784374.65, "trend": 9.575255, "fair_value": 10.189241, "relative_strength": 10.934377, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 62.04343, "energy": 57.763251, "activity_lines": [ 10.405413, 10.292972, 9.926757, 9.750254 ] }, { "date": "2024-03-01", "close": 10.401629, "volume": 1333914, "typical_volume": 1830970.1, "trend": 9.603715, "fair_value": 10.181019, "relative_strength": 12.764032, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 60.076066, "energy": 46.203328, "activity_lines": [ 10.404151, 10.338532, 9.996867, 9.803568 ] }, { "date": "2024-03-08", "close": 10.508823, "volume": 1810228, "typical_volume": 1860112.65, "trend": 9.642916, "fair_value": 10.173542, "relative_strength": 11.699691, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 62.728132, "energy": 43.97473, "activity_lines": [ 10.426014, 10.388969, 10.071917, 9.861962 ] }, { "date": "2024-03-15", "close": 10.508823, "volume": 1531181, "typical_volume": 1849137.95, "trend": 9.683053, "fair_value": 10.165776, "relative_strength": 12.664571, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 61.678642, "energy": 42.919087, "activity_lines": [ 10.447034, 10.424562, 10.140828, 9.917827 ] }, { "date": "2024-03-22", "close": 10.671529, "volume": 1339222, "typical_volume": 1870035.3, "trend": 9.72799, "fair_value": 10.166565, "relative_strength": 11.865404, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 68.082682, "energy": 49.027206, "activity_lines": [ 10.52586, 10.475754, 10.218871, 9.9816 ] }, { "date": "2024-03-29", "close": 10.9108, "volume": 1799345, "typical_volume": 1915420.5, "trend": 9.770616, "fair_value": 10.167444, "relative_strength": 12.608774, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 73.699842, "energy": 63.649066, "activity_lines": [ 10.679057, 10.568638, 10.312923, 10.05791 ] }, { "date": "2024-04-05", "close": 10.939513, "volume": 1203187, "typical_volume": 1854882.6, "trend": 9.823218, "fair_value": 10.168854, "relative_strength": 13.186311, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 72.098789, "energy": 71.327306, "activity_lines": [ 10.792121, 10.648028, 10.402331, 10.133323 ] }, { "date": "2024-04-12", "close": 10.690671, "volume": 312170, "typical_volume": 1738485.7, "trend": 9.873829, "fair_value": 10.168611, "relative_strength": 10.740279, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 63.896205, "energy": 67.055049, "activity_lines": [ 10.786379, 10.668956, 10.460031, 10.189288 ] }, { "date": "2024-04-19", "close": 10.585391, "volume": 993376, "typical_volume": 1199239.45, "trend": 9.91179, "fair_value": 10.167114, "relative_strength": 10.230757, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 61.358928, "energy": 56.781027, "activity_lines": [ 10.73342, 10.667206, 10.499798, 10.235195 ] }, { "date": "2024-04-26", "close": 10.623674, "volume": 536572, "typical_volume": 1142538.75, "trend": 9.944407, "fair_value": 10.164939, "relative_strength": 9.854276, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 57.431716, "energy": 44.298659, "activity_lines": [ 10.688118, 10.671998, 10.535132, 10.281123 ] }, { "date": "2024-05-03", "close": 10.298265, "volume": 1097669, "typical_volume": 1144714.25, "trend": 9.981623, "fair_value": 10.161025, "relative_strength": 4.752377, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 36.067688, "energy": 21.63318, "activity_lines": [ 10.537537, 10.617027, 10.530672, 10.303952 ] }, { "date": "2024-05-10", "close": 9.762296, "volume": 1889001, "typical_volume": 1184502.4, "trend": 9.99719, "fair_value": 10.152229, "relative_strength": 0.404481, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -14.734943, "energy": 23.09651, "activity_lines": [ 10.249134, 10.462188, 10.471607, 10.289802 ] }, { "date": "2024-05-17", "close": 9.503881, "volume": 1168368, "typical_volume": 1236557.0, "trend": 10.006665, "fair_value": 10.140853, "relative_strength": -2.04416, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -44.129909, "energy": 44.727768, "activity_lines": [ 9.953075, 10.271988, 10.387148, 10.257976 ] }, { "date": "2024-05-24", "close": 9.666587, "volume": 697738, "typical_volume": 1256358.4, "trend": 10.02314, "fair_value": 10.131156, "relative_strength": -1.337702, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -35.777385, "energy": 54.746233, "activity_lines": [ 9.79037, 10.129643, 10.319083, 10.236035 ] }, { "date": "2024-05-31", "close": 9.092334, "volume": 1212924, "typical_volume": 1268819.4, "trend": 10.017951, "fair_value": 10.114887, "relative_strength": -7.979565, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -51.849595, "energy": 76.852968, "activity_lines": [ 9.497501, 9.898202, 10.196675, 10.175983 ] }, { "date": "2024-06-07", "close": 9.379461, "volume": 993632, "typical_volume": 1290250.8, "trend": 10.018551, "fair_value": 10.100575, "relative_strength": -5.145349, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -42.652737, "energy": 73.931079, "activity_lines": [ 9.402431, 9.747678, 10.108658, 10.13479 ] }, { "date": "2024-06-14", "close": 9.092334, "volume": 561693, "typical_volume": 1291750.1, "trend": 10.013047, "fair_value": 10.081301, "relative_strength": -8.200815, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -50.338621, "energy": 73.478532, "activity_lines": [ 9.272905, 9.572792, 9.995686, 10.075035 ] }, { "date": "2024-06-21", "close": 9.188043, "volume": 1121790, "typical_volume": 1303424.2, "trend": 10.018298, "fair_value": 10.064491, "relative_strength": -5.839197, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -42.272845, "energy": 63.613405, "activity_lines": [ 9.219946, 9.448893, 9.897164, 10.021808 ] }, { "date": "2024-06-28", "close": 9.092334, "volume": 446401, "typical_volume": 1252966.0, "trend": 10.025087, "fair_value": 10.044697, "relative_strength": -7.14869, "stage": 4, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -69.776051, "energy": 59.051363, "activity_lines": [ 9.15614, 9.334912, 9.795755, 9.962069 ] }, { "date": "2024-07-05", "close": 8.996625, "volume": 946785, "typical_volume": 1189864.75, "trend": 10.032468, "fair_value": 10.025215, "relative_strength": -8.674958, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -71.475503, "energy": 58.928092, "activity_lines": [ 9.098715, 9.230677, 9.692232, 9.895716 ] }, { "date": "2024-07-12", "close": 9.867576, "volume": 902593, "typical_volume": 1094889.45, "trend": 10.043035, "fair_value": 10.011142, "relative_strength": -2.641039, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -49.630332, "energy": 36.619159, "activity_lines": [ 9.337987, 9.314379, 9.679248, 9.885078 ] }, { "date": "2024-07-19", "close": 10.001568, "volume": 832149, "typical_volume": 1069801.2, "trend": 10.056491, "fair_value": 9.998506, "relative_strength": -2.866406, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -33.75373, "energy": 19.312843, "activity_lines": [ 9.589382, 9.430273, 9.680442, 9.882403 ] }, { "date": "2024-07-26", "close": 10.671529, "volume": 1034896, "typical_volume": 1031034.6, "trend": 10.089128, "fair_value": 9.99236, "relative_strength": 3.300318, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -0.262756, "energy": 18.117712, "activity_lines": [ 10.003482, 9.663629, 9.747347, 9.922083 ] }, { "date": "2024-08-02", "close": 10.872517, "volume": 855547, "typical_volume": 997252.9, "trend": 10.126888, "fair_value": 9.985192, "relative_strength": 4.194165, "stage": 2, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "mixed", "direction": 35.808791, "energy": 41.303878, "activity_lines": [ 10.385679, 9.912297, 9.832619, 9.972624 ] }, { "date": "2024-08-09", "close": 10.508823, "volume": 1146589, "typical_volume": 987621.25, "trend": 10.124788, "fair_value": 9.97627, "relative_strength": 2.268725, "stage": 2, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 22.223782, "energy": 41.079712, "activity_lines": [ 10.527965, 10.072914, 9.881521, 9.997265 ] }, { "date": "2024-08-16", "close": 11.293636, "volume": 694884, "typical_volume": 932398.2, "trend": 10.171857, "fair_value": 9.972668, "relative_strength": 5.516519, "stage": 2, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 43.823297, "energy": 65.264709, "activity_lines": [ 10.831043, 10.350469, 10.005943, 10.072674 ] }, { "date": "2024-08-23", "close": 11.006509, "volume": 297841, "typical_volume": 887130.9, "trend": 10.198324, "fair_value": 9.954568, "relative_strength": 4.300929, "stage": 2, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 31.041049, "energy": 61.867733, "activity_lines": [ 10.943341, 10.541017, 10.101196, 10.126523 ] }, { "date": "2024-08-30", "close": 10.920371, "volume": 758476, "typical_volume": 909446.2, "trend": 10.212464, "fair_value": 9.934992, "relative_strength": 4.06957, "stage": 2, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 35.324932, "energy": 53.936485, "activity_lines": [ 10.959931, 10.681099, 10.187926, 10.173107 ] }, { "date": "2024-09-06", "close": 11.363256, "volume": 834925, "typical_volume": 901523.65, "trend": 10.239159, "fair_value": 9.921052, "relative_strength": 6.665826, "stage": 2, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "up", "direction": 72.790725, "energy": 66.539567, "activity_lines": [ 11.107559, 10.87021, 10.315742, 10.247351 ] }, { "date": "2024-09-13", "close": 11.48887, "volume": 536747, "typical_volume": 901532.4, "trend": 10.269097, "fair_value": 9.908325, "relative_strength": 5.81132, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 71.493471, "energy": 63.302344, "activity_lines": [ 11.264343, 11.04087, 10.451817, 10.327978 ] }, { "date": "2024-09-20", "close": 11.12169, "volume": 1783057, "typical_volume": 935801.8, "trend": 10.300979, "fair_value": 9.891209, "relative_strength": 5.190898, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 61.765784, "energy": 52.122779, "activity_lines": [ 11.233397, 11.099456, 10.548803, 10.382984 ] }, { "date": "2024-09-27", "close": 11.401906, "volume": 1031283, "typical_volume": 892915.9, "trend": 10.334321, "fair_value": 9.876179, "relative_strength": 7.873351, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 64.919659, "energy": 52.733878, "activity_lines": [ 11.307319, 11.186189, 10.668555, 10.454011 ] }, { "date": "2024-10-04", "close": 11.585495, "volume": 934507, "typical_volume": 881222.85, "trend": 10.37021, "fair_value": 9.860872, "relative_strength": 7.942848, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 67.221889, "energy": 50.78176, "activity_lines": [ 11.416078, 11.28084, 10.797983, 10.534732 ] }, { "date": "2024-10-11", "close": 11.914025, "volume": 993832, "typical_volume": 896027.55, "trend": 10.41705, "fair_value": 9.850289, "relative_strength": 8.801556, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 76.11452, "energy": 62.618468, "activity_lines": [ 11.590005, 11.418607, 10.948788, 10.634333 ] }, { "date": "2024-10-18", "close": 11.875375, "volume": 949790, "typical_volume": 882870.85, "trend": 10.457178, "fair_value": 9.841144, "relative_strength": 8.418673, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 71.180075, "energy": 70.63385, "activity_lines": [ 11.714331, 11.53041, 11.08521, 10.728419 ] }, { "date": "2024-10-25", "close": 12.029977, "volume": 1482050, "typical_volume": 907291.75, "trend": 10.494484, "fair_value": 9.833863, "relative_strength": 10.056652, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 72.520519, "energy": 78.675696, "activity_lines": [ 11.864424, 11.645476, 11.223104, 10.82989 ] }, { "date": "2024-11-01", "close": 11.885037, "volume": 869585, "typical_volume": 922686.35, "trend": 10.526002, "fair_value": 9.82862, "relative_strength": 10.284953, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 64.957922, "energy": 73.093523, "activity_lines": [ 11.905651, 11.720802, 11.334572, 10.919603 ] }, { "date": "2024-11-08", "close": 12.126603, "volume": 520528, "typical_volume": 892623.25, "trend": 10.573866, "fair_value": 9.825623, "relative_strength": 10.396474, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 70.342205, "energy": 65.584237, "activity_lines": [ 11.995191, 11.824075, 11.455747, 11.022867 ] }, { "date": "2024-11-15", "close": 12.30053, "volume": 580520, "typical_volume": 899329.2, "trend": 10.631038, "fair_value": 9.827812, "relative_strength": 12.378826, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 74.507957, "energy": 73.316681, "activity_lines": [ 12.106633, 11.93704, 11.579494, 11.134265 ] }, { "date": "2024-11-22", "close": 12.658048, "volume": 914955, "typical_volume": 897737.7, "trend": 10.69885, "fair_value": 9.833689, "relative_strength": 12.067071, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 81.215017, "energy": 76.879183, "activity_lines": [ 12.311481, 12.097966, 11.722014, 11.26504 ] }, { "date": "2024-11-29", "close": 12.397157, "volume": 809461, "typical_volume": 893081.1, "trend": 10.768813, "fair_value": 9.836963, "relative_strength": 9.142878, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 66.975791, "energy": 73.270148, "activity_lines": [ 12.377187, 12.190201, 11.822251, 11.374608 ] }, { "date": "2024-12-06", "close": 12.368169, "volume": 654813, "typical_volume": 884214.3, "trend": 10.855676, "fair_value": 9.841214, "relative_strength": 10.580469, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 64.386371, "energy": 69.428025, "activity_lines": [ 12.408752, 12.253974, 11.907681, 11.477792 ] }, { "date": "2024-12-13", "close": 12.561421, "volume": 485196, "typical_volume": 856729.3, "trend": 10.957594, "fair_value": 9.846064, "relative_strength": 12.404334, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 70.26452, "energy": 62.068375, "activity_lines": [ 12.472525, 12.335316, 12.000248, 11.58784 ] }, { "date": "2024-12-20", "close": 12.387494, "volume": 731221, "typical_volume": 850513.0, "trend": 11.04829, "fair_value": 9.849858, "relative_strength": 9.237039, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 61.901557, "energy": 52.946097, "activity_lines": [ 12.449335, 12.36729, 12.06725, 11.680092 ] }, { "date": "2024-12-27", "close": 12.754674, "volume": 127690, "typical_volume": 799568.05, "trend": 11.170368, "fair_value": 9.85205, "relative_strength": 9.569736, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 74.059441, "energy": 58.890572, "activity_lines": [ 12.54274, 12.457416, 12.162007, 11.790181 ] }, { "date": "2025-01-03", "close": 12.745011, "volume": 91543, "typical_volume": 769401.0, "trend": 11.282553, "fair_value": 9.853424, "relative_strength": 10.284887, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 69.290598, "energy": 57.232487, "activity_lines": [ 12.626483, 12.529798, 12.24515, 11.891771 ] }, { "date": "2025-01-10", "close": 12.348844, "volume": 350977, "typical_volume": 772057.8, "trend": 11.391104, "fair_value": 9.855807, "relative_strength": 8.125412, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 58.748395, "energy": 47.117798, "activity_lines": [ 12.55498, 12.517149, 12.283651, 11.960564 ] }, { "date": "2025-01-17", "close": 12.745011, "volume": 440917, "typical_volume": 756179.85, "trend": 11.509669, "fair_value": 9.8648, "relative_strength": 9.308248, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 66.543273, "energy": 49.26546, "activity_lines": [ 12.61682, 12.568097, 12.353491, 12.047913 ] }, { "date": "2025-01-24", "close": 12.368169, "volume": 434977, "typical_volume": 736182.45, "trend": 11.618864, "fair_value": 9.87481, "relative_strength": 6.730239, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 54.088481, "energy": 36.698276, "activity_lines": [ 12.540808, 12.539285, 12.378752, 12.1033 ] }, { "date": "2025-01-31", "close": 12.561421, "volume": 615482, "typical_volume": 740119.2, "trend": 11.73769, "fair_value": 9.88379, "relative_strength": 8.441845, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 44.655898, "energy": 29.064039, "activity_lines": [ 12.530501, 12.54438, 12.417632, 12.16411 ] }, { "date": "2025-02-07", "close": 12.44547, "volume": 262851, "typical_volume": 664108.9, "trend": 11.82362, "fair_value": 9.893655, "relative_strength": 8.040756, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 40.738927, "energy": 26.479261, "activity_lines": [ 12.494427, 12.53015, 12.440362, 12.209773 ] }, { "date": "2025-02-14", "close": 12.609735, "volume": 524834, "typical_volume": 638786.45, "trend": 11.910559, "fair_value": 9.907947, "relative_strength": 8.575831, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 42.570384, "energy": 24.111406, "activity_lines": [ 12.533078, 12.544907, 12.472433, 12.26049 ] }, { "date": "2025-02-21", "close": 12.368169, "volume": 994341, "typical_volume": 641778.15, "trend": 11.967114, "fair_value": 9.918364, "relative_strength": 8.233042, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 36.748765, "energy": 20.303908, "activity_lines": [ 12.473814, 12.511351, 12.475746, 12.290014 ] }, { "date": "2025-02-28", "close": 11.923689, "volume": 3120267, "typical_volume": 748099.9, "trend": 12.002153, "fair_value": 9.924303, "relative_strength": 5.458038, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 1.349926, "energy": 6.663476, "activity_lines": [ 12.291512, 12.400495, 12.433001, 12.287212 ] }, { "date": "2025-03-07", "close": 11.836724, "volume": 1689365, "typical_volume": 785078.65, "trend": 12.046416, "fair_value": 9.933953, "relative_strength": 6.224508, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -2.380581, "energy": 13.959033, "activity_lines": [ 12.109855, 12.282259, 12.381927, 12.276539 ] }, { "date": "2025-03-14", "close": 11.414182, "volume": 2313393, "typical_volume": 826645.8, "trend": 12.050434, "fair_value": 9.936793, "relative_strength": 3.464698, "stage": 3, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -34.606919, "energy": 42.389586, "activity_lines": [ 11.835663, 12.103888, 12.290795, 12.23575 ] }, { "date": "2025-03-21", "close": 11.072147, "volume": 2456476, "typical_volume": 905990.35, "trend": 12.052622, "fair_value": 9.93996, "relative_strength": 1.579263, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -49.887255, "energy": 64.717658, "activity_lines": [ 11.516212, 11.887526, 12.17002, 12.172634 ] }, { "date": "2025-03-28", "close": 11.189416, "volume": 875528, "typical_volume": 923740.35, "trend": 12.06159, "fair_value": 9.943116, "relative_strength": 1.181981, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -44.022494, "energy": 68.014152, "activity_lines": [ 11.338357, 11.715697, 12.064285, 12.116944 ] }, { "date": "2025-04-04", "close": 10.749657, "volume": 876528, "typical_volume": 938540.75, "trend": 12.041137, "fair_value": 9.943454, "relative_strength": -2.23461, "stage": 3, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -80.925194, "energy": 84.515448, "activity_lines": [ 11.092499, 11.492196, 11.921131, 12.032303 ] }, { "date": "2025-04-11", "close": 10.788747, "volume": 1066325, "typical_volume": 946109.25, "trend": 12.0178, "fair_value": 9.945215, "relative_strength": -0.199585, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -73.00106, "energy": 80.630493, "activity_lines": [ 10.937939, 11.30523, 11.789085, 11.951504 ] }, { "date": "2025-04-18", "close": 11.04283, "volume": 614591, "typical_volume": 936365.75, "trend": 12.015171, "fair_value": 9.948311, "relative_strength": 1.279086, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -65.053198, "energy": 72.931246, "activity_lines": [ 10.937939, 11.196691, 11.690139, 11.888602 ] }, { "date": "2025-04-25", "close": 10.749657, "volume": 1057712, "typical_volume": 956510.7, "trend": 11.993429, "fair_value": 9.948532, "relative_strength": -0.568361, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -69.554847, "energy": 66.936994, "activity_lines": [ 10.864972, 11.060351, 11.569721, 11.806956 ] }, { "date": "2025-05-02", "close": 10.603071, "volume": 2049275, "typical_volume": 1034714.65, "trend": 11.960682, "fair_value": 9.951856, "relative_strength": -4.385661, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -70.036188, "energy": 55.441251, "activity_lines": [ 10.764642, 10.931178, 11.443049, 11.717256 ] }, { "date": "2025-05-09", "close": 10.945106, "volume": 856421, "typical_volume": 1040974.65, "trend": 11.928385, "fair_value": 9.959659, "relative_strength": -3.549697, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -60.00566, "energy": 46.223958, "activity_lines": [ 10.817413, 10.896286, 11.358278, 11.651735 ] }, { "date": "2025-05-16", "close": 11.160099, "volume": 972152, "typical_volume": 1083197.75, "trend": 11.904542, "fair_value": 9.966848, "relative_strength": -3.177838, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -46.970277, "energy": 36.189099, "activity_lines": [ 10.928818, 10.918276, 11.30085, 11.602168 ] }, { "date": "2025-05-23", "close": 10.935333, "volume": 2656602, "typical_volume": 1211450.7, "trend": 11.868054, "fair_value": 9.975057, "relative_strength": -3.792698, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -43.288881, "energy": 31.063356, "activity_lines": [ 10.940545, 10.911702, 11.22961, 11.539638 ] }, { "date": "2025-05-30", "close": 10.798519, "volume": 1046794, "typical_volume": 1246241.55, "trend": 11.831837, "fair_value": 9.982155, "relative_strength": -3.849451, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -47.134533, "energy": 30.386996, "activity_lines": [ 10.913834, 10.888959, 11.153957, 11.470636 ] }, { "date": "2025-06-06", "close": 10.798519, "volume": 1631158, "typical_volume": 1305753.6, "trend": 11.787567, "fair_value": 9.992828, "relative_strength": -5.094152, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -46.165377, "energy": 30.102266, "activity_lines": [ 10.883865, 10.871191, 11.085687, 11.40397 ] }, { "date": "2025-06-13", "close": 11.033057, "volume": 771563, "typical_volume": 1322582.9, "trend": 11.745318, "fair_value": 10.008462, "relative_strength": -3.182383, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -41.336283, "energy": 28.705232, "activity_lines": [ 10.919046, 10.903173, 11.049022, 11.355292 ] }, { "date": "2025-06-20", "close": 10.64216, "volume": 1992488, "typical_volume": 1391433.2, "trend": 11.678122, "fair_value": 10.020711, "relative_strength": -6.851614, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -60.722842, "energy": 38.075217, "activity_lines": [ 10.818064, 10.85893, 10.981487, 11.284121 ] }, { "date": "2025-06-27", "close": 10.993968, "volume": 739484, "typical_volume": 1415264.85, "trend": 11.631349, "fair_value": 10.035098, "relative_strength": -4.081787, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -50.011713, "energy": 30.159219, "activity_lines": [ 10.868881, 10.881318, 10.956597, 11.239982 ] }, { "date": "2025-07-04", "close": 11.238278, "volume": 1350336, "typical_volume": 1456539.95, "trend": 11.593686, "fair_value": 10.04736, "relative_strength": -3.595033, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -33.157471, "energy": 17.591357, "activity_lines": [ 10.997225, 10.949014, 10.961887, 11.214622 ] }, { "date": "2025-07-11", "close": 11.365319, "volume": 927162, "typical_volume": 1453181.0, "trend": 11.553816, "fair_value": 10.061666, "relative_strength": -2.061641, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -10.230364, "energy": 8.805846, "activity_lines": [ 11.138599, 11.030925, 10.985806, 11.199889 ] }, { "date": "2025-07-18", "close": 11.521678, "volume": 511399, "typical_volume": 1322737.6, "trend": 11.524955, "fair_value": 10.076271, "relative_strength": -2.377987, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": 1.851465, "energy": 14.101738, "activity_lines": [ 11.294306, 11.127405, 11.029392, 11.197816 ] }, { "date": "2025-07-25", "close": 11.521678, "volume": 574533, "typical_volume": 1266996.0, "trend": 11.483855, "fair_value": 10.087418, "relative_strength": -2.239561, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": 2.129052, "energy": 18.533054, "activity_lines": [ 11.417439, 11.213403, 11.074892, 11.197604 ] }, { "date": "2025-08-01", "close": 11.111237, "volume": 434737, "typical_volume": 1173063.2, "trend": 11.429396, "fair_value": 10.094645, "relative_strength": -4.802891, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -3.088285, "energy": 15.345016, "activity_lines": [ 11.345123, 11.2182, 11.082803, 11.173564 ] }, { "date": "2025-08-08", "close": 10.827836, "volume": 951628, "typical_volume": 1097820.8, "trend": 11.378696, "fair_value": 10.098004, "relative_strength": -8.033623, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -21.049925, "energy": 11.914157, "activity_lines": [ 11.170522, 11.168272, 11.065167, 11.134754 ] }, { "date": "2025-08-15", "close": 10.593299, "volume": 3593063, "typical_volume": 1233697.55, "trend": 11.306972, "fair_value": 10.099098, "relative_strength": -10.214734, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -46.946259, "energy": 26.800151, "activity_lines": [ 10.945106, 11.075167, 11.026356, 11.084083 ] }, { "date": "2025-08-22", "close": 10.622616, "volume": 1884336, "typical_volume": 1284087.95, "trend": 11.248787, "fair_value": 10.102724, "relative_strength": -10.905296, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -57.48579, "energy": 40.258055, "activity_lines": [ 10.780929, 10.991125, 10.993176, 11.039931 ] }, { "date": "2025-08-29", "close": 10.739884, "volume": 2966765, "typical_volume": 1379109.95, "trend": 11.188069, "fair_value": 10.106457, "relative_strength": -9.051908, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -52.180774, "energy": 44.525497, "activity_lines": [ 10.715779, 10.935866, 10.97177, 11.007099 ] }, { "date": "2025-09-05", "close": 10.417395, "volume": 2031157, "typical_volume": 1449938.25, "trend": 11.120467, "fair_value": 10.107253, "relative_strength": -13.530505, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -65.804216, "energy": 62.832009, "activity_lines": [ 10.595253, 10.820196, 10.919883, 10.957378 ] }, { "date": "2025-09-12", "close": 10.712024, "volume": 865444, "typical_volume": 1440324.85, "trend": 11.05721, "fair_value": 10.111298, "relative_strength": -10.953635, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -54.595113, "energy": 49.559294, "activity_lines": [ 10.619192, 10.768578, 10.899035, 10.931026 ] }, { "date": "2025-09-19", "close": 11.037827, "volume": 1825619, "typical_volume": 1429142.05, "trend": 11.012865, "fair_value": 10.118202, "relative_strength": -8.160556, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -41.55471, "energy": 23.788306, "activity_lines": [ 10.759453, 10.785766, 10.909394, 10.929776 ] }, { "date": "2025-09-26", "close": 10.544186, "volume": 1255987, "typical_volume": 1449120.35, "trend": 10.966882, "fair_value": 10.122, "relative_strength": -11.256672, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -54.682508, "energy": 28.638797, "activity_lines": [ 10.705532, 10.719155, 10.87067, 10.899539 ] }, { "date": "2025-10-03", "close": 10.800879, "volume": 2552681, "typical_volume": 1528146.8, "trend": 10.932353, "fair_value": 10.130166, "relative_strength": -11.579848, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -33.887822, "energy": 16.151294, "activity_lines": [ 10.742404, 10.716987, 10.858301, 10.888829 ] }, { "date": "2025-10-10", "close": 11.452486, "volume": 2822787, "typical_volume": 1536456.05, "trend": 10.93363, "fair_value": 10.14529, "relative_strength": -5.764988, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 13.39876, "energy": 14.027955, "activity_lines": [ 10.992412, 10.8464, 10.909701, 10.922386 ] }, { "date": "2025-10-17", "close": 11.442613, "volume": 1457810, "typical_volume": 1557006.85, "trend": 10.945979, "fair_value": 10.161889, "relative_strength": -4.452418, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 60.088898, "energy": 38.907443, "activity_lines": [ 11.170123, 10.967812, 10.957699, 10.955223 ] }, { "date": "2025-10-24", "close": 11.74867, "volume": 684935, "typical_volume": 1509695.7, "trend": 10.964621, "fair_value": 10.179799, "relative_strength": -2.512382, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 71.795464, "energy": 64.011654, "activity_lines": [ 11.401147, 11.133694, 11.031777, 11.00701 ] }, { "date": "2025-10-31", "close": 11.452486, "volume": 405232, "typical_volume": 1491379.15, "trend": 10.988049, "fair_value": 10.194154, "relative_strength": -5.866191, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 57.126226, "energy": 64.23013, "activity_lines": [ 11.486053, 11.224717, 11.073123, 11.038485 ] }, { "date": "2025-11-07", "close": 11.709179, "volume": 691561, "typical_volume": 1426332.8, "trend": 11.01873, "fair_value": 10.211693, "relative_strength": -3.934233, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 66.137431, "energy": 69.273279, "activity_lines": [ 11.595971, 11.347324, 11.136918, 11.08501 ] }, { "date": "2025-11-14", "close": 12.094219, "volume": 1315571, "typical_volume": 1455137.15, "trend": 11.053776, "fair_value": 10.231582, "relative_strength": 0.371691, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 77.231751, "energy": 75.169052, "activity_lines": [ 11.773681, 11.522313, 11.232303, 11.154396 ] }, { "date": "2025-11-21", "close": 12.390405, "volume": 1631159, "typical_volume": 1469178.3, "trend": 11.108468, "fair_value": 10.257452, "relative_strength": 3.279924, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 80.195417, "energy": 77.967836, "activity_lines": [ 12.007339, 11.720668, 11.350657, 11.24063 ] }, { "date": "2025-11-28", "close": 12.390405, "volume": 1175079, "typical_volume": 1481574.15, "trend": 11.168045, "fair_value": 10.280068, "relative_strength": 2.812667, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 74.772846, "energy": 79.051879, "activity_lines": [ 12.17781, 11.888506, 11.463525, 11.323336 ] }, { "date": "2025-12-05", "close": 11.995491, "volume": 1706744, "typical_volume": 1541341.4, "trend": 11.203058, "fair_value": 10.301336, "relative_strength": -0.263137, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 63.139881, "energy": 68.065863, "activity_lines": [ 12.17386, 11.959949, 11.5339, 11.376719 ] }, { "date": "2025-12-12", "close": 12.094219, "volume": 1121923, "typical_volume": 1568710.9, "trend": 11.234196, "fair_value": 10.325189, "relative_strength": 1.316726, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 61.810837, "energy": 54.980919, "activity_lines": [ 12.16662, 12.022956, 11.611422, 11.434214 ] }, { "date": "2025-12-19", "close": 11.719051, "volume": 1327575, "typical_volume": 1613352.8, "trend": 11.260319, "fair_value": 10.346697, "relative_strength": -1.111819, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 55.511179, "energy": 37.859276, "activity_lines": [ 12.008655, 11.994234, 11.650487, 11.465495 ] }, { "date": "2025-12-26", "close": 12.123837, "volume": 308915, "typical_volume": 1581217.15, "trend": 11.304497, "fair_value": 10.372042, "relative_strength": 0.976735, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 47.440597, "energy": 30.087386, "activity_lines": [ 12.010629, 12.034264, 11.725209, 11.521205 ] }, { "date": "2026-01-02", "close": 12.133711, "volume": 232084, "typical_volume": 1413168.2, "trend": 11.349003, "fair_value": 10.394847, "relative_strength": 1.089182, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 45.682058, "energy": 28.605922, "activity_lines": [ 12.033666, 12.063703, 11.794699, 11.574703 ] }, { "date": "2026-01-09", "close": 12.291676, "volume": 341088, "typical_volume": 1336005.8, "trend": 11.390957, "fair_value": 10.420203, "relative_strength": 1.432303, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 60.147843, "energy": 35.750702, "activity_lines": [ 12.12647, 12.114862, 11.871899, 11.635521 ] }, { "date": "2026-01-16", "close": 12.242311, "volume": 326407, "typical_volume": 1203987.9, "trend": 11.444295, "fair_value": 10.441869, "relative_strength": 1.035818, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 58.171186, "energy": 38.508516, "activity_lines": [ 12.183074, 12.141788, 11.936449, 11.690447 ] }, { "date": "2026-01-23", "close": 11.778289, "volume": 800553, "typical_volume": 1142457.7, "trend": 11.470439, "fair_value": 10.458608, "relative_strength": -0.683651, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 51.55767, "energy": 30.326038, "activity_lines": [ 12.075132, 12.074653, 11.949653, 11.711995 ] }, { "date": "2026-01-30", "close": 11.422867, "volume": 1740679, "typical_volume": 1186219.45, "trend": 11.476592, "fair_value": 10.474253, "relative_strength": -3.256805, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 22.080732, "energy": 11.81314, "activity_lines": [ 11.844766, 11.94864, 11.922526, 11.708926 ] }, { "date": "2026-02-06", "close": 11.057572, "volume": 571743, "typical_volume": 1123525.65, "trend": 11.466334, "fair_value": 10.486076, "relative_strength": -6.204338, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": -5.842289, "energy": 17.06187, "activity_lines": [ 11.539366, 11.773801, 11.857224, 11.681892 ] }, { "date": "2026-02-13", "close": 10.712024, "volume": 730967, "typical_volume": 1097274.65, "trend": 11.439346, "fair_value": 10.498525, "relative_strength": -7.118731, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -35.147272, "energy": 41.316362, "activity_lines": [ 11.190527, 11.560369, 11.758919, 11.633227 ] }, { "date": "2026-02-20", "close": 10.366474, "volume": 1172561, "typical_volume": 1028268.65, "trend": 11.400839, "fair_value": 10.507575, "relative_strength": -10.484022, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -41.649079, "energy": 64.750011, "activity_lines": [ 10.831814, 11.307445, 11.626905, 11.564009 ] }, { "date": "2026-02-27", "close": 10.524439, "volume": 1008207, "typical_volume": 937539.65, "trend": 11.381279, "fair_value": 10.521721, "relative_strength": -11.514034, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -33.835435, "energy": 64.774049, "activity_lines": [ 10.650812, 11.114655, 11.512004, 11.507467 ] }, { "date": "2026-03-06", "close": 10.198636, "volume": 1126809, "typical_volume": 920989.6, "trend": 11.360306, "fair_value": 10.534944, "relative_strength": -12.573423, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -50.141594, "energy": 73.894379, "activity_lines": [ 10.444799, 10.884349, 11.370494, 11.431168 ] }, { "date": "2026-03-13", "close": 10.16, "volume": 816942, "typical_volume": 927589.95, "trend": 11.345862, "fair_value": 10.54726, "relative_strength": -10.392142, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -46.614716, "energy": 72.702206, "activity_lines": [ 10.307522, 10.682022, 11.231227, 11.353729 ] }, { "date": "2026-03-20", "close": 9.38, "volume": 1893718, "typical_volume": 1002014.25, "trend": 11.304442, "fair_value": 10.555536, "relative_strength": -15.652532, "stage": 4, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -87.702941, "energy": 89.478966, "activity_lines": [ 9.970084, 10.373762, 11.02524, 11.226899 ] }, { "date": "2026-03-27", "close": 9.32, "volume": 2679614, "typical_volume": 1101416.9, "trend": 11.257112, "fair_value": 10.562528, "relative_strength": -15.477314, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -83.116349, "energy": 91.461475, "activity_lines": [ 9.701447, 10.107533, 10.823408, 11.09887 ] }, { "date": "2026-04-03", "close": 8.9, "volume": 1594967, "typical_volume": 1115386.7, "trend": 11.206533, "fair_value": 10.566887, "relative_strength": -18.730925, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -86.061926, "energy": 93.259362, "activity_lines": [ 9.362576, 9.818073, 10.592952, 10.946799 ] }, { "date": "2026-04-10", "close": 8.93, "volume": 1998090, "typical_volume": 1133733.25, "trend": 11.147132, "fair_value": 10.573776, "relative_strength": -19.784602, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -77.771124, "energy": 90.590218, "activity_lines": [ 9.142, 9.5864, 10.380565, 10.799926 ] }, { "date": "2026-04-17", "close": 8.25, "volume": 1299602, "typical_volume": 1139959.4, "trend": 11.054204, "fair_value": 10.577746, "relative_strength": -23.837678, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -87.581658, "energy": 93.899411, "activity_lines": [ 8.779333, 9.276415, 10.119893, 10.613014 ] }, { "date": "2026-04-24", "close": 8.42, "volume": 1362473, "typical_volume": 1122745.85, "trend": 10.983398, "fair_value": 10.582924, "relative_strength": -21.65103, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -76.386223, "energy": 88.287047, "activity_lines": [ 8.600667, 9.048387, 9.895129, 10.443065 ] }, { "date": "2026-05-01", "close": 8.2, "volume": 1693270, "typical_volume": 1151313.2, "trend": 10.896702, "fair_value": 10.586813, "relative_strength": -24.255871, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -77.781775, "energy": 85.40042, "activity_lines": [ 8.412667, 8.822031, 9.666438, 10.263491 ] }, { "date": "2026-05-08", "close": 7.92, "volume": 2088387, "typical_volume": 1189353.8, "trend": 10.778952, "fair_value": 10.588427, "relative_strength": -27.146182, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -80.776711, "energy": 86.519803, "activity_lines": [ 8.206, 8.584157, 9.429624, 10.071446 ] }, { "date": "2026-05-15", "close": 7.19, "volume": 1884568, "typical_volume": 1268136.45, "trend": 10.637199, "fair_value": 10.580146, "relative_strength": -32.287161, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -90.354469, "energy": 89.367189, "activity_lines": [ 7.821333, 8.260909, 9.141377, 9.8399 ] }, { "date": "2026-05-22", "close": 7.7, "volume": 1626998, "typical_volume": 1337882.15, "trend": 10.502243, "fair_value": 10.576034, "relative_strength": -27.159903, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -70.261347, "energy": 77.217851, "activity_lines": [ 7.722667, 8.085091, 8.925196, 9.650404 ] }, { "date": "2026-05-29", "close": 8.02, "volume": 1957262, "typical_volume": 1418690.85, "trend": 10.387827, "fair_value": 10.573553, "relative_strength": -25.116184, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -67.672433, "energy": 66.851928, "activity_lines": [ 7.767333, 8.012182, 8.760604, 9.490259 ] }, { "date": "2026-06-05", "close": 8.06, "volume": 156330, "typical_volume": 1410187.0, "trend": 10.266188, "fair_value": 10.571329, "relative_strength": -23.822783, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -65.597008, "energy": 64.777743, "activity_lines": [ 7.852, 7.971273, 8.620163, 9.340077 ] }, { "date": "2026-06-12", "close": 8.19, "volume": 84888, "typical_volume": 1374403.75, "trend": 10.136047, "fair_value": 10.568979, "relative_strength": -23.444503, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -52.285946, "energy": 54.209691, "activity_lines": [ 7.989333, 7.976909, 8.512019, 9.206129 ] }, { "date": "2026-06-19", "close": 8.55, "volume": 660478, "typical_volume": 1320393.7, "trend": 10.008033, "fair_value": 10.566479, "relative_strength": -20.272875, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -46.255916, "energy": 41.81849, "activity_lines": [ 8.228667, 8.060909, 8.455248, 9.103803 ] }, { "date": "2026-06-26", "close": 8.52, "volume": 139973, "typical_volume": 1298805.2, "trend": 9.87902, "fair_value": 10.563607, "relative_strength": -20.081616, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -40.72475, "energy": 31.33872, "activity_lines": [ 8.367333, 8.146364, 8.409299, 9.007801 ] }, { "date": "2026-07-03", "close": 8.9, "volume": 70732, "typical_volume": 1265793.45, "trend": 9.775837, "fair_value": 10.560114, "relative_strength": -16.813084, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -31.703619, "energy": 29.892954, "activity_lines": [ 8.578, 8.296, 8.411625, 8.944639 ] }, { "date": "2026-07-10", "close": 8.75, "volume": 553372, "typical_volume": 1234834.0, "trend": 9.664363, "fair_value": 10.55356, "relative_strength": -18.68758, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -16.699869, "energy": 24.742026, "activity_lines": [ 8.68, 8.409636, 8.408294, 8.878456 ] }, { "date": "2026-07-17", "close": 8.15, "volume": 1127121, "typical_volume": 1240779.7, "trend": 9.545395, "fair_value": 10.54442, "relative_strength": -23.193566, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -31.157786, "energy": 22.224777, "activity_lines": [ 8.536, 8.404182, 8.355517, 8.780755 ] }, { "date": "2026-07-24", "close": 8.42, "volume": 852065, "typical_volume": 1227042.5, "trend": 9.421933, "fair_value": 10.536711, "relative_strength": -20.534092, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -21.241265, "energy": 14.981141, "activity_lines": [ 8.484667, 8.443636, 8.339762, 8.708149 ] }, { "date": "2026-07-31", "close": 8.33, "volume": 923864, "typical_volume": 1232388.6, "trend": 9.295143, "fair_value": 10.528904, "relative_strength": -20.437851, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -33.38589, "energy": 23.87696, "activity_lines": [ 8.412, 8.444364, 8.323905, 8.637701 ] }, { "date": "2026-08-07", "close": 8.42, "volume": 1181241, "typical_volume": 1196764.75, "trend": 9.166087, "fair_value": 10.523053, "relative_strength": -19.832708, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -34.283045, "energy": 26.162076, "activity_lines": [ 8.382, 8.45, 8.325333, 8.581241 ] } ], "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." } } }