{ "ticker": { "uuid": "a74177bb-44e6-4fec-98b4-db0fd05cebea", "symbol": "XSDX", "name": "Xtrackers ShortDAX Daily Swap UCITS ETF 1C", "exchange": "MIL", "country": "IT", "assetType": "etf" }, "methodBoundary": "Trend Architecture is a weekly structural classification, not a forecast, probability of return, recommendation or execution signal. Confidence measures geometric agreement and external confirmation only.", "analysis": { "eligible": true, "as_of": "2026-08-07", "benchmark": "FTSEMIB.MI", "stage": 4, "stage_name": "Declining", "phase": "4b", "phase_label": "Stage 4B \u00b7 Declining", "transition": "stage_4_declining", "transition_label": "Stage 4 decline intact", "confidence": 92.053, "architecture_regime": "downward_expansion", "architecture_regime_label": "Downward Expansion", "architecture_modifier": "Early contraction", "architecture_gate": "down", "architecture_direction": -80.691, "architecture_energy": 69.299, "architecture_maturity": 15.198, "architecture_confidence": 93.676, "architecture_tenure": "Developing", "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": 20.93, "rotation_up": 17.71, "upward_expansion": 14.17, "deceleration": 39.35, "rotation_down": 61.74, "downward_expansion": 85.17 }, "activity_lines": [ 9.0698, 9.146164, 9.262233, 9.368783 ], "activity_state": "Wide", "activity_direction": "Expanding", "rotation_direction": "Weakening", "price_acceptance": -0.5 }, "latest_close": 8.821, "trend_reference": 9.434033, "distance_from_trend": -0.064981, "trend_direction": "Weakening", "fair_value": 10.904295, "distance_from_fair_value": -0.191053, "fair_value_direction": "Weakening", "relative_strength": -20.522503, "relative_strength_direction": "Weakening", "price_momentum": -0.057485, "excess_performance": -0.228377, "evidence": [ { "label": "Price vs Trend", "positive": false, "value": -0.064981, "read": "Below" }, { "label": "Trend direction", "positive": false, "value": -0.012002, "read": "Falling" }, { "label": "Price vs current Fair Value", "positive": false, "value": -0.191053, "read": "Below anchor" }, { "label": "Fair Value direction", "positive": false, "value": -0.040056, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.205225, "read": "Lagging" }, { "label": "Relative strength direction", "positive": false, "value": -0.078548, "read": "Weakening" }, { "label": "Price momentum", "positive": false, "value": -0.057485, "read": "Negative" }, { "label": "Volume balance", "positive": false, "value": 0.741616, "read": "Supply-led" } ], "volume": { "latest": 95619, "relative_activity": 0.508684, "balance": 0.741616, "dry_up": 0.329805, "accumulation_observations": 1, "distribution_observations": 1 }, "risk": { "range_context": 0.025725, "annualized_volatility": 0.183619, "from_high_reference": -0.164994, "from_low_reference": 0.002159 }, "levels": { "trend_reference": 9.434033, "fair_value_reference": 10.904295, "structural_low": 8.802, "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": 37, "median_return": -0.003988, "positive_rate": 0.405405, "directional_follow_through": 0.594595, "median_excess_return": -0.009802, "regime_survival": 0.810811, "best_return": 0.061848, "worst_return": -0.079887, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 12, "median_return": -0.003722, "positive_rate": 0.5, "directional_follow_through": 0.5, "median_excess_return": -0.033281, "regime_survival": 0.5, "best_return": 0.060533, "worst_return": -0.15411, "sufficient": true }, { "horizon": "Extended", "sample_count": 8, "median_return": -0.035402, "positive_rate": 0.25, "directional_follow_through": 0.75, "median_excess_return": -0.137286, "regime_survival": 0.375, "best_return": 0.179164, "worst_return": -0.149513, "sufficient": true }, { "horizon": "Full cycle", "sample_count": 4, "median_return": -0.114708, "positive_rate": 0.25, "directional_follow_through": 0.75, "median_excess_return": -0.353143, "regime_survival": 0.5, "best_return": 0.133698, "worst_return": -0.156573, "sufficient": false } ], "ledger": [ { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2023-12-01", "end": "2023-12-08", "tenure": "New", "return": -0.020662, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2023-12-15", "end": "2024-01-19", "tenure": "Developing", "return": 0.020609, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2024-01-26", "end": "2024-06-28", "tenure": "Established", "return": -0.041647, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2024-07-05", "end": "2024-10-04", "tenure": "Established", "return": -0.020494, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2024-10-11", "end": "2025-09-12", "tenure": "Extended", "return": -0.162849, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-09-19", "end": "2025-11-21", "tenure": "Developing", "return": 0.028962, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-11-28", "end": "2025-12-12", "tenure": "New", "return": -0.014101, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-12-19", "end": "2026-01-09", "tenure": "New", "return": -0.035756, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2026-01-16", "end": "2026-03-13", "tenure": "Developing", "return": 0.080088, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2026-03-20", "end": "2026-03-27", "tenure": "New", "return": 0.003486, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-04-03", "end": "2026-04-24", "tenure": "New", "return": -0.043748, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-05-01", "end": "2026-05-29", "tenure": "Developing", "return": -0.033382, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2026-06-05", "end": "2026-07-03", "tenure": "Developing", "return": -0.037914, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2026-07-10", "end": "2026-08-07", "tenure": "Developing", "return": -0.045346, "active": true } ], "chart_path": [ { "date": "2023-08-18", "close": 13.296, "volume": 37909, "typical_volume": 85563.55, "trend": 12.995467, "fair_value": 14.627192, "relative_strength": -12.731514, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 23.549297, "energy": 22.458539, "activity_lines": [ 13.0308, 12.945418, 12.877219, 12.917191 ] }, { "date": "2023-08-25", "close": 13.262, "volume": 67061, "typical_volume": 84206.4, "trend": 12.991333, "fair_value": 14.600833, "relative_strength": -13.57853, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 25.341706, "energy": 37.705249, "activity_lines": [ 13.144, 13.013673, 12.915943, 12.934387 ] }, { "date": "2023-09-01", "close": 13.108, "volume": 14432, "typical_volume": 80779.2, "trend": 12.9912, "fair_value": 14.571564, "relative_strength": -15.13587, "stage": 4, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 19.057652, "energy": 41.974487, "activity_lines": [ 13.171867, 13.040727, 12.938962, 12.941914 ] }, { "date": "2023-09-08", "close": 13.212, "volume": 50649, "typical_volume": 77319.8, "trend": 12.989467, "fair_value": 14.546679, "relative_strength": -12.462548, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 31.584455, "energy": 47.183912, "activity_lines": [ 13.196267, 13.084582, 12.970857, 12.956159 ] }, { "date": "2023-09-15", "close": 13.098, "volume": 21859, "typical_volume": 75404.0, "trend": 12.9888, "fair_value": 14.520615, "relative_strength": -14.489741, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 26.057175, "energy": 29.60658, "activity_lines": [ 13.165467, 13.099127, 12.990133, 12.963161 ] }, { "date": "2023-09-22", "close": 13.394, "volume": 90764, "typical_volume": 76330.5, "trend": 12.991467, "fair_value": 14.490372, "relative_strength": -10.556063, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 38.384159, "energy": 30.824136, "activity_lines": [ 13.231733, 13.169236, 13.036324, 12.989303 ] }, { "date": "2023-09-29", "close": 13.556, "volume": 263770, "typical_volume": 83607.95, "trend": 13.008667, "fair_value": 14.463487, "relative_strength": -7.277281, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "up", "direction": 71.395973, "energy": 55.754723, "activity_lines": [ 13.345467, 13.257855, 13.095086, 13.025725 ] }, { "date": "2023-10-06", "close": 13.722, "volume": 109894, "typical_volume": 83389.85, "trend": 13.025533, "fair_value": 14.440885, "relative_strength": -3.624124, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 76.419044, "energy": 72.243072, "activity_lines": [ 13.494933, 13.362036, 13.166286, 13.071746 ] }, { "date": "2023-10-13", "close": 13.774, "volume": 98033, "typical_volume": 83453.7, "trend": 13.026667, "fair_value": 14.417679, "relative_strength": -3.675692, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 75.966062, "energy": 80.095375, "activity_lines": [ 13.6208, 13.454109, 13.236971, 13.120034 ] }, { "date": "2023-10-20", "close": 14.138, "volume": 59794, "typical_volume": 83778.8, "trend": 13.045333, "fair_value": 14.394385, "relative_strength": 2.917769, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 84.722166, "energy": 87.500635, "activity_lines": [ 13.830533, 13.597455, 13.337733, 13.191733 ] }, { "date": "2023-10-27", "close": 14.252, "volume": 155734, "typical_volume": 87032.75, "trend": 13.087467, "fair_value": 14.361846, "relative_strength": 4.641183, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 84.21551, "energy": 91.527484, "activity_lines": [ 14.008933, 13.742182, 13.442752, 13.269583 ] }, { "date": "2023-11-03", "close": 13.816, "volume": 60618, "typical_volume": 88601.45, "trend": 13.1132, "fair_value": 14.335756, "relative_strength": -2.85601, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 66.574499, "energy": 81.467951, "activity_lines": [ 13.9848, 13.790255, 13.4996, 13.316585 ] }, { "date": "2023-11-10", "close": 13.796, "volume": 34110, "typical_volume": 88210.9, "trend": 13.143333, "fair_value": 14.315077, "relative_strength": -2.048628, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 64.132447, "energy": 65.894889, "activity_lines": [ 13.936667, 13.824618, 13.548448, 13.360637 ] }, { "date": "2023-11-17", "close": 13.214, "volume": 63528, "typical_volume": 82119.45, "trend": 13.155733, "fair_value": 14.291141, "relative_strength": -8.917237, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 33.87703, "energy": 29.16336, "activity_lines": [ 13.6896, 13.740655, 13.538038, 13.365196 ] }, { "date": "2023-11-24", "close": 13.138, "volume": 20269, "typical_volume": 72031.95, "trend": 13.166, "fair_value": 14.268654, "relative_strength": -8.822966, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 12.870169, "energy": 21.829146, "activity_lines": [ 13.454533, 13.642836, 13.518133, 13.364052 ] }, { "date": "2023-12-01", "close": 12.874, "volume": 69764, "typical_volume": 72344.3, "trend": 13.168667, "fair_value": 14.243885, "relative_strength": -11.66452, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -7.082707, "energy": 28.675231, "activity_lines": [ 13.198133, 13.496291, 13.473352, 13.345213 ] }, { "date": "2023-12-08", "close": 12.608, "volume": 104680, "typical_volume": 75238.75, "trend": 13.160667, "fair_value": 14.216038, "relative_strength": -14.282051, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -46.037339, "energy": 50.750027, "activity_lines": [ 12.944933, 13.310836, 13.402848, 13.309041 ] }, { "date": "2023-12-15", "close": 12.616, "volume": 154503, "typical_volume": 81362.3, "trend": 13.162067, "fair_value": 14.192564, "relative_strength": -13.454965, "stage": 1, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -41.072922, "energy": 69.746853, "activity_lines": [ 12.774933, 13.144073, 13.33379, 13.273901 ] }, { "date": "2023-12-22", "close": 12.682, "volume": 38536, "typical_volume": 80270.75, "trend": 13.1578, "fair_value": 14.169282, "relative_strength": -12.273758, "stage": 1, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -34.006565, "energy": 70.496501, "activity_lines": [ 12.7056, 13.009418, 13.270638, 13.242929 ] }, { "date": "2023-12-29", "close": 12.706, "volume": 3661, "typical_volume": 75978.4, "trend": 13.156267, "fair_value": 14.147026, "relative_strength": -11.394694, "stage": 1, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -40.049567, "energy": 72.57866, "activity_lines": [ 12.679733, 12.898982, 13.211067, 13.213781 ] }, { "date": "2024-01-05", "close": 12.81, "volume": 95709, "typical_volume": 78868.4, "trend": 13.154733, "fair_value": 14.127872, "relative_strength": -10.458189, "stage": 1, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -37.307807, "energy": 59.304012, "activity_lines": [ 12.717333, 12.833491, 13.163152, 13.191441 ] }, { "date": "2024-01-12", "close": 12.752, "volume": 25739, "typical_volume": 76802.3, "trend": 13.161933, "fair_value": 14.106628, "relative_strength": -10.578701, "stage": 1, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -34.304547, "energy": 42.631684, "activity_lines": [ 12.739867, 12.783673, 13.112029, 13.165458 ] }, { "date": "2024-01-19", "close": 12.876, "volume": 55928, "typical_volume": 78877.1, "trend": 13.158067, "fair_value": 14.086744, "relative_strength": -8.784518, "stage": 1, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -48.27934, "energy": 41.312311, "activity_lines": [ 12.794133, 12.775745, 13.075143, 13.147011 ] }, { "date": "2024-01-26", "close": 12.582, "volume": 47368, "typical_volume": 78713.05, "trend": 13.1528, "fair_value": 14.062103, "relative_strength": -10.806755, "stage": 1, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -61.014637, "energy": 45.459782, "activity_lines": [ 12.733067, 12.731091, 13.011362, 13.109845 ] }, { "date": "2024-02-02", "close": 12.638, "volume": 21929, "typical_volume": 78716.55, "trend": 13.134267, "fair_value": 14.042333, "relative_strength": -11.122076, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -64.347939, "energy": 50.292347, "activity_lines": [ 12.697333, 12.708109, 12.955914, 13.076632 ] }, { "date": "2024-02-09", "close": 12.602, "volume": 22901, "typical_volume": 75323.4, "trend": 13.127933, "fair_value": 14.022346, "relative_strength": -12.322663, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -65.767821, "energy": 58.635828, "activity_lines": [ 12.654133, 12.687673, 12.899229, 13.042292 ] }, { "date": "2024-02-16", "close": 12.52, "volume": 25267, "typical_volume": 63398.25, "trend": 13.1202, "fair_value": 14.001603, "relative_strength": -14.194808, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -73.14967, "energy": 79.984269, "activity_lines": [ 12.597467, 12.657273, 12.838505, 13.003071 ] }, { "date": "2024-02-23", "close": 12.318, "volume": 10927, "typical_volume": 58449.9, "trend": 13.112933, "fair_value": 13.977756, "relative_strength": -17.679061, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -83.087982, "energy": 87.09153, "activity_lines": [ 12.488933, 12.591745, 12.763476, 12.951316 ] }, { "date": "2024-03-01", "close": 12.116, "volume": 66979, "typical_volume": 56897.2, "trend": 13.085, "fair_value": 13.953923, "relative_strength": -19.259981, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -90.411749, "energy": 93.824342, "activity_lines": [ 12.350267, 12.494909, 12.675895, 12.886998 ] }, { "date": "2024-03-08", "close": 12.076, "volume": 8281, "typical_volume": 54321.55, "trend": 13.051733, "fair_value": 13.934026, "relative_strength": -20.245091, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -85.830133, "energy": 93.730987, "activity_lines": [ 12.229333, 12.401091, 12.5924, 12.821901 ] }, { "date": "2024-03-15", "close": 12.0, "volume": 37250, "typical_volume": 48397.35, "trend": 13.008533, "fair_value": 13.914615, "relative_strength": -21.380353, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -83.207216, "energy": 93.194851, "activity_lines": [ 12.120533, 12.304909, 12.511486, 12.754047 ] }, { "date": "2024-03-22", "close": 11.844, "volume": 11400, "typical_volume": 45936.45, "trend": 12.961267, "fair_value": 13.894936, "relative_strength": -22.721895, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -86.150336, "energy": 94.293594, "activity_lines": [ 11.999867, 12.195091, 12.426438, 12.678916 ] }, { "date": "2024-03-29", "close": 11.674, "volume": 50264, "typical_volume": 46744.15, "trend": 12.913467, "fair_value": 13.876436, "relative_strength": -24.254, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -88.353856, "energy": 94.019534, "activity_lines": [ 11.8676, 12.070873, 12.33459, 12.595867 ] }, { "date": "2024-04-05", "close": 11.914, "volume": 30572, "typical_volume": 45096.35, "trend": 12.8702, "fair_value": 13.860282, "relative_strength": -20.57279, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -68.15986, "energy": 79.029902, "activity_lines": [ 11.858267, 12.012145, 12.275705, 12.531385 ] }, { "date": "2024-04-12", "close": 12.102, "volume": 24004, "typical_volume": 45283.1, "trend": 12.837, "fair_value": 13.846769, "relative_strength": -18.358595, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -65.888995, "energy": 65.535053, "activity_lines": [ 11.925067, 11.999745, 12.240914, 12.481824 ] }, { "date": "2024-04-19", "close": 12.226, "volume": 47653, "typical_volume": 44177.55, "trend": 12.798067, "fair_value": 13.833026, "relative_strength": -17.536258, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -52.117665, "energy": 51.347955, "activity_lines": [ 12.031467, 12.019636, 12.222867, 12.442404 ] }, { "date": "2024-04-26", "close": 11.946, "volume": 50062, "typical_volume": 41446.65, "trend": 12.7444, "fair_value": 13.816833, "relative_strength": -19.754971, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -53.294168, "energy": 42.773088, "activity_lines": [ 12.029467, 11.995455, 12.181238, 12.387432 ] }, { "date": "2024-05-03", "close": 12.086, "volume": 9764, "typical_volume": 34209.7, "trend": 12.689867, "fair_value": 13.803, "relative_strength": -16.916843, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -42.882152, "energy": 31.165347, "activity_lines": [ 12.067333, 12.007164, 12.156095, 12.344955 ] }, { "date": "2024-05-10", "close": 11.602, "volume": 92734, "typical_volume": 36919.6, "trend": 12.617467, "fair_value": 13.786282, "relative_strength": -22.142307, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -78.579003, "energy": 51.127874, "activity_lines": [ 11.9164, 11.935091, 12.087381, 12.27477 ] }, { "date": "2024-05-17", "close": 11.648, "volume": 12612, "typical_volume": 37367.15, "trend": 12.534467, "fair_value": 13.770103, "relative_strength": -23.031928, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -74.733727, "energy": 58.656246, "activity_lines": [ 11.8016, 11.880727, 12.02819, 12.212224 ] }, { "date": "2024-05-24", "close": 11.676, "volume": 83511, "typical_volume": 36757.25, "trend": 12.4486, "fair_value": 13.754603, "relative_strength": -20.310294, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -68.488771, "energy": 59.844012, "activity_lines": [ 11.7264, 11.839236, 11.976705, 12.156839 ] }, { "date": "2024-05-31", "close": 11.822, "volume": 51738, "typical_volume": 38057.2, "trend": 12.382133, "fair_value": 13.741077, "relative_strength": -18.844574, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -63.219223, "energy": 59.511721, "activity_lines": [ 11.736533, 11.830182, 11.944524, 12.116413 ] }, { "date": "2024-06-07", "close": 11.792, "volume": 157187, "typical_volume": 43120.15, "trend": 12.315333, "fair_value": 13.727372, "relative_strength": -18.951722, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -59.142727, "energy": 48.829918, "activity_lines": [ 11.744933, 11.816073, 11.913914, 12.07834 ] }, { "date": "2024-06-14", "close": 12.16, "volume": 27659, "typical_volume": 42134.7, "trend": 12.2802, "fair_value": 13.714603, "relative_strength": -11.001265, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -30.882474, "energy": 22.107541, "activity_lines": [ 11.8956, 11.866727, 11.923514, 12.068318 ] }, { "date": "2024-06-21", "close": 12.058, "volume": 39379, "typical_volume": 43007.2, "trend": 12.2442, "fair_value": 13.702218, "relative_strength": -12.99218, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -28.268359, "energy": 19.452881, "activity_lines": [ 11.975067, 11.894364, 11.92541, 12.053983 ] }, { "date": "2024-06-28", "close": 12.058, "volume": 27129, "typical_volume": 43218.6, "trend": 12.217, "fair_value": 13.690051, "relative_strength": -12.230107, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -19.673808, "energy": 19.101355, "activity_lines": [ 12.0272, 11.9228, 11.930067, 12.04197 ] }, { "date": "2024-07-05", "close": 11.906, "volume": 11898, "typical_volume": 42550.15, "trend": 12.1936, "fair_value": 13.677192, "relative_strength": -14.971065, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -13.154005, "energy": 16.727626, "activity_lines": [ 12.0032, 11.926655, 11.922838, 12.021905 ] }, { "date": "2024-07-12", "close": 11.722, "volume": 19491, "typical_volume": 42978.35, "trend": 12.1638, "fair_value": 13.662346, "relative_strength": -17.306438, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -43.697278, "energy": 19.839837, "activity_lines": [ 11.912267, 11.897782, 11.90101, 11.99148 ] }, { "date": "2024-07-19", "close": 12.128, "volume": 15790, "typical_volume": 40418.9, "trend": 12.145333, "fair_value": 13.651051, "relative_strength": -13.173256, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -3.836879, "energy": 4.388917, "activity_lines": [ 11.961333, 11.949345, 11.920686, 11.98917 ] }, { "date": "2024-07-26", "close": 11.968, "volume": 29608, "typical_volume": 41485.25, "trend": 12.120733, "fair_value": 13.638141, "relative_strength": -13.004035, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -26.35106, "energy": 13.660025, "activity_lines": [ 11.9592, 11.962255, 11.925067, 11.977729 ] }, { "date": "2024-08-02", "close": 12.5, "volume": 45070, "typical_volume": 41876.25, "trend": 12.1104, "fair_value": 13.629821, "relative_strength": -3.763249, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 33.617618, "energy": 30.516169, "activity_lines": [ 12.1404, 12.066073, 11.980629, 12.002198 ] }, { "date": "2024-08-09", "close": 12.472, "volume": 315295, "typical_volume": 57071.0, "trend": 12.101067, "fair_value": 13.622551, "relative_strength": -2.940866, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 41.94214, "energy": 55.017097, "activity_lines": [ 12.2828, 12.149818, 12.031143, 12.025527 ] }, { "date": "2024-08-16", "close": 12.066, "volume": 123488, "typical_volume": 60732.2, "trend": 12.074067, "fair_value": 13.611654, "relative_strength": -9.187075, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 26.576453, "energy": 44.630274, "activity_lines": [ 12.252133, 12.147927, 12.04, 12.023265 ] }, { "date": "2024-08-23", "close": 11.88, "volume": 203820, "typical_volume": 69394.6, "trend": 12.050667, "fair_value": 13.599872, "relative_strength": -11.710738, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 12.478363, "energy": 26.013287, "activity_lines": [ 12.136533, 12.107236, 12.029276, 12.010744 ] }, { "date": "2024-08-30", "close": 11.724, "volume": 86644, "typical_volume": 72526.6, "trend": 12.0202, "fair_value": 13.586769, "relative_strength": -14.222437, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -18.310102, "energy": 11.948258, "activity_lines": [ 11.985467, 12.043273, 12.003857, 11.989669 ] }, { "date": "2024-09-06", "close": 12.138, "volume": 43047, "typical_volume": 72296.3, "trend": 12.004733, "fair_value": 13.575397, "relative_strength": -7.846462, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 3.365734, "energy": 12.222958, "activity_lines": [ 11.988667, 12.060655, 12.019667, 11.997269 ] }, { "date": "2024-09-13", "close": 11.88, "volume": 27730, "typical_volume": 71179.7, "trend": 11.9834, "fair_value": 13.561538, "relative_strength": -10.115298, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -2.461559, "energy": 14.544018, "activity_lines": [ 11.93, 12.029673, 12.011324, 11.989222 ] }, { "date": "2024-09-20", "close": 11.876, "volume": 71124, "typical_volume": 74247.7, "trend": 11.968667, "fair_value": 13.548141, "relative_strength": -10.148602, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -12.62687, "energy": 15.44394, "activity_lines": [ 11.909467, 11.998436, 12.002914, 11.982292 ] }, { "date": "2024-09-27", "close": 11.43, "volume": 35886, "typical_volume": 71405.3, "trend": 11.9458, "fair_value": 13.529628, "relative_strength": -15.298386, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -35.044762, "energy": 40.529161, "activity_lines": [ 11.752933, 11.883309, 11.953029, 11.94754 ] }, { "date": "2024-10-04", "close": 11.662, "volume": 93151, "typical_volume": 75432.25, "trend": 11.932, "fair_value": 13.513269, "relative_strength": -10.013172, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -58.103382, "energy": 53.701415, "activity_lines": [ 11.703733, 11.823055, 11.926057, 11.92923 ] }, { "date": "2024-10-11", "close": 11.526, "volume": 19244, "typical_volume": 72218.9, "trend": 11.9162, "fair_value": 13.498244, "relative_strength": -12.249283, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -64.106204, "energy": 61.485037, "activity_lines": [ 11.613333, 11.743636, 11.886067, 11.903037 ] }, { "date": "2024-10-18", "close": 11.37, "volume": 24671, "typical_volume": 70865.55, "trend": 11.9004, "fair_value": 13.48209, "relative_strength": -14.810752, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -73.924204, "energy": 72.743942, "activity_lines": [ 11.511733, 11.653564, 11.831933, 11.867798 ] }, { "date": "2024-10-25", "close": 11.506, "volume": 79522, "typical_volume": 66982.3, "trend": 11.8948, "fair_value": 13.467564, "relative_strength": -11.87504, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -61.636862, "energy": 64.225684, "activity_lines": [ 11.489467, 11.608255, 11.792905, 11.842353 ] }, { "date": "2024-11-01", "close": 11.748, "volume": 20678, "typical_volume": 66633.25, "trend": 11.889267, "fair_value": 13.45659, "relative_strength": -9.096136, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -57.829472, "energy": 50.492869, "activity_lines": [ 11.572533, 11.617127, 11.778286, 11.832882 ] }, { "date": "2024-11-08", "close": 11.676, "volume": 64477, "typical_volume": 67888.15, "trend": 11.875067, "fair_value": 13.445449, "relative_strength": -6.690367, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -53.560926, "energy": 34.048673, "activity_lines": [ 11.6104, 11.615309, 11.758771, 11.819123 ] }, { "date": "2024-11-15", "close": 11.678, "volume": 96831, "typical_volume": 71373.25, "trend": 11.8568, "fair_value": 13.434744, "relative_strength": -7.184584, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -38.444905, "energy": 20.958304, "activity_lines": [ 11.648, 11.614727, 11.741267, 11.806409 ] }, { "date": "2024-11-22", "close": 11.636, "volume": 37807, "typical_volume": 72668.7, "trend": 11.846467, "fair_value": 13.418731, "relative_strength": -5.103013, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -34.529264, "energy": 19.138009, "activity_lines": [ 11.661467, 11.614873, 11.721571, 11.792163 ] }, { "date": "2024-11-29", "close": 11.458, "volume": 52242, "typical_volume": 74306.25, "trend": 11.825533, "fair_value": 13.401244, "relative_strength": -5.899584, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -48.820218, "energy": 27.107237, "activity_lines": [ 11.597867, 11.587091, 11.68621, 11.767101 ] }, { "date": "2024-12-06", "close": 11.046, "volume": 118715, "typical_volume": 79452.5, "trend": 11.807, "fair_value": 13.383923, "relative_strength": -12.320314, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -79.014042, "energy": 64.968406, "activity_lines": [ 11.400133, 11.492, 11.612867, 11.716809 ] }, { "date": "2024-12-13", "close": 11.06, "volume": 23855, "typical_volume": 79164.85, "trend": 11.7874, "fair_value": 13.366269, "relative_strength": -12.10038, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -77.506554, "energy": 79.603196, "activity_lines": [ 11.253867, 11.406436, 11.54601, 11.668615 ] }, { "date": "2024-12-20", "close": 11.33, "volume": 40176, "typical_volume": 78920.15, "trend": 11.775867, "fair_value": 13.351603, "relative_strength": -6.54982, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -61.421553, "energy": 73.050153, "activity_lines": [ 11.238667, 11.380909, 11.50919, 11.639105 ] }, { "date": "2024-12-27", "close": 11.38, "volume": 2202, "typical_volume": 63265.5, "trend": 11.761133, "fair_value": 13.338103, "relative_strength": -6.795973, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -61.360161, "energy": 72.583013, "activity_lines": [ 11.263333, 11.368036, 11.482705, 11.613566 ] }, { "date": "2025-01-03", "close": 11.366, "volume": 76809, "typical_volume": 60931.55, "trend": 11.746933, "fair_value": 13.324769, "relative_strength": -6.378483, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -58.135999, "energy": 49.860785, "activity_lines": [ 11.3004, 11.352436, 11.460086, 11.588073 ] }, { "date": "2025-01-10", "close": 11.2, "volume": 101509, "typical_volume": 55816.0, "trend": 11.714933, "fair_value": 13.310051, "relative_strength": -9.79065, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -63.887759, "energy": 41.196292, "activity_lines": [ 11.288267, 11.3092, 11.42499, 11.552787 ] }, { "date": "2025-01-17", "close": 10.85, "volume": 19632, "typical_volume": 52465.4, "trend": 11.674667, "fair_value": 13.291538, "relative_strength": -14.865074, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -80.287038, "energy": 53.815076, "activity_lines": [ 11.1492, 11.212291, 11.3598, 11.496985 ] }, { "date": "2025-01-24", "close": 10.612, "volume": 62993, "typical_volume": 53462.7, "trend": 11.626467, "fair_value": 13.270269, "relative_strength": -16.022224, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -85.311661, "energy": 79.07951, "activity_lines": [ 10.9448, 11.087127, 11.276105, 11.428426 ] }, { "date": "2025-01-31", "close": 10.458, "volume": 17725, "typical_volume": 52962.45, "trend": 11.5782, "fair_value": 13.246756, "relative_strength": -17.287696, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -86.58878, "energy": 93.176762, "activity_lines": [ 10.736933, 10.953345, 11.18501, 11.353041 ] }, { "date": "2025-02-07", "close": 10.45, "volume": 45220, "typical_volume": 51667.25, "trend": 11.5358, "fair_value": 13.225077, "relative_strength": -18.097063, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -79.532486, "energy": 91.79313, "activity_lines": [ 10.587867, 10.839527, 11.099924, 11.280254 ] }, { "date": "2025-02-14", "close": 10.122, "volume": 72040, "typical_volume": 53474.95, "trend": 11.468933, "fair_value": 13.199218, "relative_strength": -22.036256, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -89.45022, "energy": 95.650047, "activity_lines": [ 10.390533, 10.6844, 10.99039, 11.189041 ] }, { "date": "2025-02-21", "close": 10.228, "volume": 113616, "typical_volume": 54498.2, "trend": 11.410933, "fair_value": 13.171269, "relative_strength": -21.641164, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -75.682721, "energy": 90.33567, "activity_lines": [ 10.3004, 10.565345, 10.897181, 11.108981 ] }, { "date": "2025-02-28", "close": 10.132, "volume": 35207, "typical_volume": 55296.35, "trend": 11.332, "fair_value": 13.132744, "relative_strength": -22.381804, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -76.633795, "energy": 87.219557, "activity_lines": [ 10.219733, 10.443964, 10.801657, 11.026469 ] }, { "date": "2025-03-07", "close": 9.882, "volume": 214844, "typical_volume": 64805.0, "trend": 11.245667, "fair_value": 13.097654, "relative_strength": -23.717249, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -85.073318, "energy": 87.883596, "activity_lines": [ 10.087733, 10.298909, 10.688962, 10.93292 ] }, { "date": "2025-03-14", "close": 9.913, "volume": 289466, "typical_volume": 75302.2, "trend": 11.1739, "fair_value": 13.06793, "relative_strength": -23.173225, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -76.168302, "energy": 69.820879, "activity_lines": [ 10.004467, 10.186727, 10.586305, 10.846942 ] }, { "date": "2025-03-21", "close": 9.938, "volume": 45229, "typical_volume": 76529.75, "trend": 11.109167, "fair_value": 13.038071, "relative_strength": -23.332457, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -71.120797, "energy": 67.868655, "activity_lines": [ 9.965333, 10.105509, 10.493614, 10.767206 ] }, { "date": "2025-03-28", "close": 10.136, "volume": 55963, "typical_volume": 76104.05, "trend": 11.056233, "fair_value": 13.010481, "relative_strength": -20.864988, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -66.388364, "energy": 63.905384, "activity_lines": [ 10.004467, 10.083236, 10.4284, 10.704422 ] }, { "date": "2025-04-04", "close": 10.966, "volume": 371074, "typical_volume": 89816.2, "trend": 11.017167, "fair_value": 12.987109, "relative_strength": -4.090219, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -29.20604, "energy": 27.316905, "activity_lines": [ 10.3264, 10.224855, 10.449567, 10.6986 ] }, { "date": "2025-04-11", "close": 11.096, "volume": 970383, "typical_volume": 136445.0, "trend": 10.991033, "fair_value": 12.964019, "relative_strength": -0.995533, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -9.015807, "energy": 18.760956, "activity_lines": [ 10.636067, 10.383673, 10.486505, 10.703686 ] }, { "date": "2025-04-18", "close": 10.66, "volume": 189755, "typical_volume": 143320.65, "trend": 10.9505, "fair_value": 12.938083, "relative_strength": -9.707791, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -19.914511, "energy": 26.725252, "activity_lines": [ 10.719467, 10.451618, 10.48449, 10.682329 ] }, { "date": "2025-04-25", "close": 10.162, "volume": 62659, "typical_volume": 140517.85, "trend": 10.908233, "fair_value": 12.908519, "relative_strength": -16.704283, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -34.700586, "energy": 28.487339, "activity_lines": [ 10.587067, 10.4252, 10.438848, 10.631458 ] }, { "date": "2025-05-02", "close": 9.804, "volume": 407893, "typical_volume": 159719.75, "trend": 10.8463, "fair_value": 12.87425, "relative_strength": -21.212939, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -62.934414, "energy": 28.393898, "activity_lines": [ 10.3204, 10.332964, 10.363319, 10.560217 ] }, { "date": "2025-05-09", "close": 9.634, "volume": 45023, "typical_volume": 159962.1, "trend": 10.783233, "fair_value": 12.841224, "relative_strength": -24.223943, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -71.157397, "energy": 60.483609, "activity_lines": [ 10.0192, 10.217527, 10.277581, 10.482004 ] }, { "date": "2025-05-16", "close": 9.535, "volume": 70294, "typical_volume": 163366.7, "trend": 10.722067, "fair_value": 12.807244, "relative_strength": -26.963784, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -72.969633, "energy": 77.563547, "activity_lines": [ 9.7738, 10.093145, 10.19049, 10.401473 ] }, { "date": "2025-05-23", "close": 9.597, "volume": 155860, "typical_volume": 167319.25, "trend": 10.658433, "fair_value": 12.777006, "relative_strength": -23.854519, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -67.456552, "energy": 77.892552, "activity_lines": [ 9.653133, 9.986345, 10.11809, 10.328888 ] }, { "date": "2025-05-30", "close": 9.446, "volume": 25161, "typical_volume": 163501.85, "trend": 10.5817, "fair_value": 12.745814, "relative_strength": -25.717582, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -71.624535, "energy": 79.218176, "activity_lines": [ 9.553, 9.857836, 10.039733, 10.250667 ] }, { "date": "2025-06-06", "close": 9.341, "volume": 23942, "typical_volume": 163717.35, "trend": 10.503867, "fair_value": 12.709462, "relative_strength": -26.987443, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -72.955729, "energy": 77.583968, "activity_lines": [ 9.4656, 9.719182, 9.959729, 10.170622 ] }, { "date": "2025-06-13", "close": 9.663, "volume": 157324, "typical_volume": 168433.9, "trend": 10.4367, "fair_value": 12.67075, "relative_strength": -21.634713, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -62.928873, "energy": 51.347216, "activity_lines": [ 9.5164, 9.653527, 9.917576, 10.116372 ] }, { "date": "2025-06-20", "close": 9.737, "volume": 121982, "typical_volume": 173646.75, "trend": 10.3734, "fair_value": 12.632756, "relative_strength": -20.0563, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -59.332706, "energy": 44.619524, "activity_lines": [ 9.589933, 9.625018, 9.88699, 10.07123 ] }, { "date": "2025-06-27", "close": 9.467, "volume": 47106, "typical_volume": 173741.05, "trend": 10.307033, "fair_value": 12.590532, "relative_strength": -22.671429, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -63.261288, "energy": 43.190952, "activity_lines": [ 9.56, 9.572127, 9.834124, 10.012753 ] }, { "date": "2025-07-04", "close": 9.553, "volume": 35750, "typical_volume": 171926.55, "trend": 10.257267, "fair_value": 12.550667, "relative_strength": -21.195437, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -48.004333, "energy": 35.216167, "activity_lines": [ 9.5674, 9.556564, 9.794129, 9.964105 ] }, { "date": "2025-07-11", "close": 9.386, "volume": 54777, "typical_volume": 168984.6, "trend": 10.201467, "fair_value": 12.508821, "relative_strength": -22.946532, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -69.427913, "energy": 48.402604, "activity_lines": [ 9.512, 9.521709, 9.740938, 9.907895 ] }, { "date": "2025-07-18", "close": 9.366, "volume": 39123, "typical_volume": 169180.4, "trend": 10.136, "fair_value": 12.469987, "relative_strength": -22.961798, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -68.86278, "energy": 67.764485, "activity_lines": [ 9.446933, 9.490818, 9.689852, 9.853994 ] }, { "date": "2025-07-25", "close": 9.397, "volume": 96790, "typical_volume": 163277.7, "trend": 10.0699, "fair_value": 12.433032, "relative_strength": -22.886647, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -64.777898, "energy": 70.061802, "activity_lines": [ 9.412, 9.470436, 9.645367, 9.806316 ] }, { "date": "2025-08-01", "close": 9.702, "volume": 120344, "typical_volume": 154821.6, "trend": 10.014433, "fair_value": 12.398596, "relative_strength": -18.04616, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -59.723717, "energy": 44.348002, "activity_lines": [ 9.5014, 9.508018, 9.632238, 9.782581 ] }, { "date": "2025-08-08", "close": 9.418, "volume": 248757, "typical_volume": 164998.0, "trend": 9.955033, "fair_value": 12.364071, "relative_strength": -22.825954, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -63.647051, "energy": 41.718562, "activity_lines": [ 9.480467, 9.492055, 9.593067, 9.744101 ] }, { "date": "2025-08-15", "close": 9.354, "volume": 74965, "typical_volume": 165948.1, "trend": 9.905167, "fair_value": 12.327391, "relative_strength": -24.478659, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -65.480359, "energy": 40.848965, "activity_lines": [ 9.4472, 9.464964, 9.550276, 9.705325 ] }, { "date": "2025-08-22", "close": 9.362, "volume": 513576, "typical_volume": 173073.2, "trend": 9.8635, "fair_value": 12.286545, "relative_strength": -24.87794, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -62.833968, "energy": 40.553479, "activity_lines": [ 9.418733, 9.439091, 9.511971, 9.670282 ] }, { "date": "2025-08-29", "close": 9.547, "volume": 110804, "typical_volume": 130094.25, "trend": 9.833133, "fair_value": 12.247667, "relative_strength": -20.762936, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -55.187989, "energy": 38.342298, "activity_lines": [ 9.4522, 9.452327, 9.498924, 9.649862 ] }, { "date": "2025-09-05", "close": 9.682, "volume": 142467, "typical_volume": 127729.85, "trend": 9.807533, "fair_value": 12.210038, "relative_strength": -17.776417, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -32.656239, "energy": 22.21583, "activity_lines": [ 9.520667, 9.493564, 9.50611, 9.640112 ] }, { "date": "2025-09-12", "close": 9.649, "volume": 38822, "typical_volume": 126538.0, "trend": 9.791767, "fair_value": 12.174635, "relative_strength": -19.202385, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -17.410268, "energy": 14.043929, "activity_lines": [ 9.579467, 9.524891, 9.51481, 9.629884 ] }, { "date": "2025-09-19", "close": 9.668, "volume": 86880, "typical_volume": 110487.35, "trend": 9.7731, "fair_value": 12.130647, "relative_strength": -17.863321, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -5.435836, "energy": 16.681559, "activity_lines": [ 9.6292, 9.557927, 9.527762, 9.621899 ] }, { "date": "2025-09-26", "close": 9.638, "volume": 40183, "typical_volume": 110245.35, "trend": 9.756633, "fair_value": 12.084955, "relative_strength": -18.17609, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -6.179457, "energy": 18.910808, "activity_lines": [ 9.648, 9.580382, 9.538505, 9.613183 ] }, { "date": "2025-10-03", "close": 9.389, "volume": 95189, "typical_volume": 111490.1, "trend": 9.7402, "fair_value": 12.039372, "relative_strength": -20.699421, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -28.532317, "energy": 15.341523, "activity_lines": [ 9.5654, 9.552618, 9.525514, 9.589465 ] }, { "date": "2025-10-10", "close": 9.437, "volume": 541212, "typical_volume": 130757.7, "trend": 9.724333, "fair_value": 11.99575, "relative_strength": -17.352729, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -38.497544, "energy": 20.676175, "activity_lines": [ 9.509333, 9.533727, 9.51779, 9.569903 ] }, { "date": "2025-10-17", "close": 9.607, "volume": 195779, "typical_volume": 139288.6, "trend": 9.7133, "fair_value": 11.955192, "relative_strength": -14.718475, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -23.932259, "energy": 16.198694, "activity_lines": [ 9.526267, 9.550564, 9.527019, 9.562333 ] }, { "date": "2025-10-24", "close": 9.466, "volume": 113384, "typical_volume": 143760.7, "trend": 9.690967, "fair_value": 11.917833, "relative_strength": -16.770791, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -38.411014, "energy": 25.339809, "activity_lines": [ 9.499, 9.538327, 9.522052, 9.546378 ] }, { "date": "2025-10-31", "close": 9.578, "volume": 47335, "typical_volume": 138261.25, "trend": 9.6447, "fair_value": 11.882833, "relative_strength": -16.425831, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -25.830914, "energy": 14.223274, "activity_lines": [ 9.522533, 9.544418, 9.527157, 9.53909 ] }, { "date": "2025-11-07", "close": 9.747, "volume": 82223, "typical_volume": 136273.3, "trend": 9.599733, "fair_value": 11.854327, "relative_strength": -13.703155, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 33.174994, "energy": 22.138332, "activity_lines": [ 9.6064, 9.577309, 9.548762, 9.54569 ] }, { "date": "2025-11-14", "close": 9.613, "volume": 56099, "typical_volume": 136722.95, "trend": 9.564833, "fair_value": 11.826128, "relative_strength": -16.219793, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 17.465152, "energy": 23.51208, "activity_lines": [ 9.621733, 9.5822, 9.557557, 9.546546 ] }, { "date": "2025-11-21", "close": 9.948, "volume": 304456, "typical_volume": 150158.25, "trend": 9.5577, "fair_value": 11.800718, "relative_strength": -9.831809, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 74.287581, "energy": 62.847315, "activity_lines": [ 9.737, 9.649255, 9.597562, 9.571267 ] }, { "date": "2025-11-28", "close": 9.645, "volume": 21188, "typical_volume": 148478.8, "trend": 9.5524, "fair_value": 11.773212, "relative_strength": -13.20212, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 52.182305, "energy": 53.804086, "activity_lines": [ 9.728533, 9.655782, 9.606829, 9.576899 ] }, { "date": "2025-12-05", "close": 9.567, "volume": 77028, "typical_volume": 150374.05, "trend": 9.550167, "fair_value": 11.744167, "relative_strength": -13.420659, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 46.655139, "energy": 32.987906, "activity_lines": [ 9.682133, 9.648545, 9.607433, 9.577841 ] }, { "date": "2025-12-12", "close": 9.509, "volume": 140875, "typical_volume": 152578.3, "trend": 9.5493, "fair_value": 11.711686, "relative_strength": -13.461561, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 24.782194, "energy": 14.781063, "activity_lines": [ 9.617133, 9.632055, 9.601557, 9.575185 ] }, { "date": "2025-12-19", "close": 9.481, "volume": 307030, "typical_volume": 161912.6, "trend": 9.545433, "fair_value": 11.67941, "relative_strength": -15.316681, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 12.704716, "energy": 13.814103, "activity_lines": [ 9.558667, 9.608291, 9.592481, 9.570778 ] }, { "date": "2025-12-26", "close": 9.47, "volume": 49080, "typical_volume": 151928.75, "trend": 9.546233, "fair_value": 11.646333, "relative_strength": -14.332809, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -15.635846, "energy": 19.405147, "activity_lines": [ 9.505333, 9.581727, 9.58341, 9.565912 ] }, { "date": "2026-01-02", "close": 9.407, "volume": 77789, "typical_volume": 152069.95, "trend": 9.548433, "fair_value": 11.617788, "relative_strength": -15.516995, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -24.271578, "energy": 28.339223, "activity_lines": [ 9.462867, 9.5462, 9.56809, 9.556929 ] }, { "date": "2026-01-09", "close": 9.142, "volume": 704844, "typical_volume": 161633.35, "trend": 9.531067, "fair_value": 11.590391, "relative_strength": -17.748038, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -80.6431, "energy": 69.837904, "activity_lines": [ 9.347933, 9.463564, 9.527281, 9.530708 ] }, { "date": "2026-01-16", "close": 9.14, "volume": 101093, "typical_volume": 161147.8, "trend": 9.511167, "fair_value": 11.562545, "relative_strength": -17.259586, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -78.710938, "energy": 77.862399, "activity_lines": [ 9.260667, 9.388491, 9.487329, 9.505477 ] }, { "date": "2026-01-23", "close": 9.299, "volume": 177682, "typical_volume": 162908.55, "trend": 9.505567, "fair_value": 11.536346, "relative_strength": -13.410821, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -63.110349, "energy": 70.45777, "activity_lines": [ 9.251, 9.353364, 9.464457, 9.491789 ] }, { "date": "2026-01-30", "close": 9.427, "volume": 202142, "typical_volume": 171074.55, "trend": 9.501367, "fair_value": 11.512724, "relative_strength": -13.002484, "stage": 1, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -59.332473, "energy": 58.752197, "activity_lines": [ 9.296133, 9.347218, 9.4556, 9.48672 ] }, { "date": "2026-02-06", "close": 9.359, "volume": 96775, "typical_volume": 171569.3, "trend": 9.500467, "fair_value": 11.487692, "relative_strength": -13.745329, "stage": 1, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -54.013811, "energy": 35.335149, "activity_lines": [ 9.321467, 9.338182, 9.441324, 9.477535 ] }, { "date": "2026-02-13", "close": 9.297, "volume": 56212, "typical_volume": 172370.75, "trend": 9.498167, "fair_value": 11.463199, "relative_strength": -13.038009, "stage": 1, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -45.087156, "energy": 25.977464, "activity_lines": [ 9.329333, 9.323073, 9.422614, 9.464409 ] }, { "date": "2026-02-20", "close": 9.174, "volume": 33010, "typical_volume": 169261.8, "trend": 9.490733, "fair_value": 11.43666, "relative_strength": -15.638212, "stage": 1, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -67.177638, "energy": 37.343957, "activity_lines": [ 9.285867, 9.290509, 9.393814, 9.443495 ] }, { "date": "2026-02-27", "close": 9.159, "volume": 52023, "typical_volume": 144802.35, "trend": 9.472633, "fair_value": 11.411782, "relative_strength": -16.624291, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -67.878588, "energy": 54.821092, "activity_lines": [ 9.235133, 9.261309, 9.36461, 9.422092 ] }, { "date": "2026-03-06", "close": 9.735, "volume": 366813, "typical_volume": 153354.05, "trend": 9.4832, "fair_value": 11.389468, "relative_strength": -4.963686, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -9.457984, "energy": 8.33548, "activity_lines": [ 9.385733, 9.342691, 9.391586, 9.439019 ] }, { "date": "2026-03-13", "close": 9.872, "volume": 523190, "typical_volume": 173844.35, "trend": 9.500467, "fair_value": 11.364673, "relative_strength": -3.71619, "stage": 1, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "mixed", "direction": 32.594472, "energy": 27.829301, "activity_lines": [ 9.561467, 9.444164, 9.431, 9.464103 ] }, { "date": "2026-03-20", "close": 10.328, "volume": 400253, "typical_volume": 191490.25, "trend": 9.532667, "fair_value": 11.34384, "relative_strength": 4.318902, "stage": 1, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 48.167181, "energy": 63.819441, "activity_lines": [ 9.855, 9.620091, 9.51191, 9.517492 ] }, { "date": "2026-03-27", "close": 10.364, "volume": 555560, "typical_volume": 215157.1, "trend": 9.5599, "fair_value": 11.327019, "relative_strength": 3.580147, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "up", "direction": 81.443563, "energy": 84.705093, "activity_lines": [ 10.0918, 9.781, 9.592676, 9.571127 ] }, { "date": "2026-04-03", "close": 10.012, "volume": 283667, "typical_volume": 226535.5, "trend": 9.5709, "fair_value": 11.307583, "relative_strength": -4.087584, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 63.532615, "energy": 78.933813, "activity_lines": [ 10.131933, 9.855655, 9.636981, 9.600295 ] }, { "date": "2026-04-10", "close": 9.68, "volume": 789048, "typical_volume": 250765.1, "trend": 9.571933, "fair_value": 11.286994, "relative_strength": -10.20592, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 61.99471, "energy": 67.777144, "activity_lines": [ 10.004533, 9.856982, 9.647767, 9.607333 ] }, { "date": "2026-04-17", "close": 9.346, "volume": 127345, "typical_volume": 256072.95, "trend": 9.5612, "fair_value": 11.264583, "relative_strength": -14.779305, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 25.215207, "energy": 18.843382, "activity_lines": [ 9.769467, 9.792982, 9.628019, 9.592757 ] }, { "date": "2026-04-24", "close": 9.574, "volume": 122856, "typical_volume": 258364.35, "trend": 9.559067, "fair_value": 11.243712, "relative_strength": -9.928752, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 26.486013, "energy": 21.016389, "activity_lines": [ 9.645467, 9.770673, 9.63141, 9.593583 ] }, { "date": "2026-05-01", "close": 9.526, "volume": 158590, "typical_volume": 259250.1, "trend": 9.563633, "fair_value": 11.222763, "relative_strength": -11.028715, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -0.175175, "energy": 17.265069, "activity_lines": [ 9.555733, 9.7346, 9.630195, 9.591449 ] }, { "date": "2026-05-08", "close": 9.51, "volume": 311598, "typical_volume": 259478.5, "trend": 9.566067, "fair_value": 11.201365, "relative_strength": -12.667723, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -2.9954, "energy": 17.573587, "activity_lines": [ 9.516533, 9.689218, 9.627376, 9.587989 ] }, { "date": "2026-05-15", "close": 9.648, "volume": 72893, "typical_volume": 260669.15, "trend": 9.567433, "fair_value": 11.182609, "relative_strength": -10.790738, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 0.306449, "energy": 8.974721, "activity_lines": [ 9.5568, 9.662545, 9.637562, 9.593275 ] }, { "date": "2026-05-22", "close": 9.272, "volume": 573706, "typical_volume": 285465.0, "trend": 9.560967, "fair_value": 11.159929, "relative_strength": -14.534528, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -24.855724, "energy": 19.171825, "activity_lines": [ 9.473867, 9.569091, 9.61109, 9.574215 ] }, { "date": "2026-05-29", "close": 9.208, "volume": 27514, "typical_volume": 251598.5, "trend": 9.548633, "fair_value": 11.137212, "relative_strength": -15.634524, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -26.944154, "energy": 24.989013, "activity_lines": [ 9.374533, 9.474909, 9.579167, 9.551443 ] }, { "date": "2026-06-05", "close": 9.337, "volume": 115600, "typical_volume": 252323.85, "trend": 9.534967, "fair_value": 11.114654, "relative_strength": -13.879805, "stage": 1, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -19.588339, "energy": 28.825156, "activity_lines": [ 9.3426, 9.424545, 9.559214, 9.537789 ] }, { "date": "2026-06-12", "close": 9.403, "volume": 45688, "typical_volume": 245724.15, "trend": 9.527967, "fair_value": 11.094571, "relative_strength": -15.5057, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -19.060957, "energy": 36.118608, "activity_lines": [ 9.345267, 9.404855, 9.54461, 9.529275 ] }, { "date": "2026-06-19", "close": 9.259, "volume": 8088, "typical_volume": 236021.45, "trend": 9.505, "fair_value": 11.070641, "relative_strength": -18.398023, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -23.721851, "energy": 38.966557, "activity_lines": [ 9.307067, 9.370055, 9.515795, 9.511923 ] }, { "date": "2026-06-26", "close": 9.388, "volume": 15388, "typical_volume": 231952.1, "trend": 9.496433, "fair_value": 11.049154, "relative_strength": -14.281689, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -26.316448, "energy": 25.75021, "activity_lines": [ 9.3378, 9.366364, 9.500067, 9.504374 ] }, { "date": "2026-07-03", "close": 8.983, "volume": 9090, "typical_volume": 229596.0, "trend": 9.476967, "fair_value": 11.02216, "relative_strength": -19.880449, "stage": 4, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -75.990357, "energy": 58.009175, "activity_lines": [ 9.2258, 9.288273, 9.445629, 9.471249 ] }, { "date": "2026-07-10", "close": 9.24, "volume": 294860, "typical_volume": 242688.5, "trend": 9.468, "fair_value": 10.999391, "relative_strength": -16.825791, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -56.800264, "energy": 54.392649, "activity_lines": [ 9.214467, 9.267655, 9.417162, 9.455961 ] }, { "date": "2026-07-17", "close": 9.343, "volume": 56321, "typical_volume": 242903.4, "trend": 9.4634, "fair_value": 10.977538, "relative_strength": -14.304192, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -54.018857, "energy": 45.626983, "activity_lines": [ 9.243933, 9.270964, 9.39819, 9.447897 ] }, { "date": "2026-07-24", "close": 9.252, "volume": 67921, "typical_volume": 227958.8, "trend": 9.456133, "fair_value": 10.956487, "relative_strength": -14.600367, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -54.247288, "energy": 47.763974, "activity_lines": [ 9.247067, 9.260764, 9.369676, 9.434258 ] }, { "date": "2026-07-31", "close": 9.065, "volume": 28117, "typical_volume": 203205.15, "trend": 9.444733, "fair_value": 10.931558, "relative_strength": -16.389835, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -65.381869, "energy": 42.477478, "activity_lines": [ 9.188333, 9.223764, 9.325652, 9.409024 ] }, { "date": "2026-08-07", "close": 8.821, "volume": 95619, "typical_volume": 187973.45, "trend": 9.434033, "fair_value": 10.904295, "relative_strength": -20.522503, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -80.691195, "energy": 69.298733, "activity_lines": [ 9.0698, 9.146164, 9.262233, 9.368783 ] } ], "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." } } }