{ "ticker": { "uuid": "af57ef22-3da0-4031-a1dd-58c4b2c6cca1", "symbol": "SPYO", "name": "IncomeShares S&P500 Options ETP", "exchange": "LSE", "country": "GB", "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": "^FTSE", "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": -64.927, "architecture_energy": 49.633, "architecture_maturity": 54.631, "architecture_confidence": 87.054, "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": 14.11, "rotation_up": 20.86, "upward_expansion": 6.74, "deceleration": 52.72, "rotation_down": 60.59, "downward_expansion": 82.41 }, "activity_lines": [ 344.776667, 346.227956, 351.337595, 355.72193 ], "activity_state": "Moderate", "activity_direction": "Contracting", "rotation_direction": "Improving", "price_acceptance": -0.833333 }, "latest_close": 343.7, "trend_reference": 363.682681, "distance_from_trend": -0.054945, "trend_direction": "Weakening", "fair_value": 499.943978, "distance_from_fair_value": -0.312523, "fair_value_direction": "Improving", "relative_strength": -19.454346, "relative_strength_direction": "Weakening", "price_momentum": -0.092904, "excess_performance": -0.144139, "evidence": [ { "label": "Price vs Trend", "positive": false, "value": -0.054945, "read": "Below" }, { "label": "Trend direction", "positive": false, "value": -0.057473, "read": "Falling" }, { "label": "Price vs current Fair Value", "positive": false, "value": -0.312523, "read": "Below anchor" }, { "label": "Fair Value direction", "positive": true, "value": 0.002986, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.194543, "read": "Lagging" }, { "label": "Relative strength direction", "positive": false, "value": -0.001154, "read": "Weakening" }, { "label": "Price momentum", "positive": false, "value": -0.092904, "read": "Negative" }, { "label": "Volume balance", "positive": true, "value": 1.64996, "read": "Demand-led" } ], "volume": { "latest": 12112, "relative_activity": 0.685033, "balance": 1.64996, "dry_up": 0.50259, "accumulation_observations": 2, "distribution_observations": 1 }, "risk": { "range_context": 0.025758, "annualized_volatility": 0.135996, "from_high_reference": -0.406074, "from_low_reference": 0.019579 }, "levels": { "trend_reference": 363.682681, "fair_value_reference": 499.943978, "structural_low": 337.1, "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": 5, "median_return": -0.020103, "positive_rate": 0.4, "directional_follow_through": 0.6, "median_excess_return": -0.03763, "regime_survival": 1.0, "best_return": 0.00638, "worst_return": -0.03838, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 1, "median_return": -0.06898, "positive_rate": 0.0, "directional_follow_through": 1.0, "median_excess_return": -0.089494, "regime_survival": 1.0, "best_return": -0.06898, "worst_return": -0.06898, "sufficient": false }, { "horizon": "Extended", "sample_count": 0, "median_return": null, "positive_rate": null, "directional_follow_through": null, "median_excess_return": null, "regime_survival": null, "best_return": null, "worst_return": null, "sufficient": false }, { "horizon": "Full cycle", "sample_count": 0, "median_return": null, "positive_rate": null, "directional_follow_through": null, "median_excess_return": null, "regime_survival": null, "best_return": null, "worst_return": null, "sufficient": false } ], "ledger": [ { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2026-03-13", "end": "2026-08-07", "tenure": "Established", "return": -0.072597, "active": true } ], "chart_path": [ { "date": "2024-09-06", "close": 740.911133, "volume": 23, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-09-13", "close": 754.431946, "volume": 608, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-09-20", "close": 755.424255, "volume": 1339, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-09-27", "close": 757.657043, "volume": 1464, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-10-04", "close": 732.972412, "volume": 1232, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-10-11", "close": 734.460999, "volume": 2618, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-10-18", "close": 739.050598, "volume": 2746, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-10-25", "close": 743.268066, "volume": 3327, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-01", "close": 718.530518, "volume": 2428, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-08", "close": 731.558472, "volume": 13467, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-15", "close": 739.003235, "volume": 388, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-22", "close": 756.622131, "volume": 4625, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-29", "close": 752.527588, "volume": 5848, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-12-06", "close": 741.608826, "volume": 3054, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-12-13", "close": 742.849609, "volume": 3611, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-12-20", "close": 733.916016, "volume": 8536, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-12-27", "close": 732.923401, "volume": 9083, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-03", "close": 718.775452, "volume": 4551, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-10", "close": 719.520081, "volume": 5230, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-17", "close": 734.166199, "volume": 8787, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-24", "close": 727.712097, "volume": 21112, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-31", "close": 729.201416, "volume": 16968, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-02-07", "close": 698.882507, "volume": 31391, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-02-14", "close": 693.666992, "volume": 22098, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-02-21", "close": 692.052551, "volume": 23672, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-02-28", "close": 679.634644, "volume": 19292, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-03-07", "close": 607.432739, "volume": 14385, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-03-14", "close": 605.56897, "volume": 13291, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-03-21", "close": 607.805298, "volume": 15548, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-03-28", "close": 599.108154, "volume": 18285, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-04-04", "close": 518.906311, "volume": 21939, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-04-11", "close": 507.714874, "volume": 45347, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-04-18", "close": 509.828827, "volume": 31673, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-04-25", "close": 516.419312, "volume": 48672, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-02", "close": 454.758087, "volume": 72404, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-09", "close": 458.045868, "volume": 22728, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-16", "close": 471.595459, "volume": 63867, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-23", "close": 456.451813, "volume": 44076, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-30", "close": 464.870514, "volume": 55862, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-06-06", "close": 436.664032, "volume": 40645, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-06-13", "close": 438.558258, "volume": 37044, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-06-20", "close": 442.197021, "volume": 37103, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-06-27", "close": 440.452423, "volume": 45916, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-07-04", "close": 426.53775, "volume": 43652, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-07-11", "close": 432.771454, "volume": 46628, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-07-18", "close": 439.7034, "volume": 35565, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-07-25", "close": 445.687836, "volume": 34238, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-01", "close": 432.1604, "volume": 47741, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-08", "close": 431.511627, "volume": 15602, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-15", "close": 431.411804, "volume": 23394, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-22", "close": 431.711243, "volume": 17184, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-29", "close": 432.210236, "volume": 36203, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-09-05", "close": 419.80014, "volume": 31331, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-09-12", "close": 425.390869, "volume": 27981, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-09-19", "close": 430.831787, "volume": 20501, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-09-26", "close": 432.379211, "volume": 22636, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-10-03", "close": 425.699707, "volume": 25845, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-10-10", "close": 425.300293, "volume": 19273, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-10-17", "close": 425.699707, "volume": 29206, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-10-24", "close": 578.692017, "volume": 10105, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-10-31", "close": 443.574493, "volume": 27451, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-11-07", "close": 417.798584, "volume": 29485, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-11-14", "close": 423.792084, "volume": 25121, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-11-21", "close": 425.090668, "volume": 18294, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-11-28", "close": 429.735687, "volume": 13843, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-12-05", "close": 411.918121, "volume": 13416, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-12-12", "close": 410.019379, "volume": 24198, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-12-19", "close": 410.818848, "volume": 13640, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-12-26", "close": 408.770233, "volume": 22718, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-01-02", "close": 393.89563, "volume": 11926, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-01-09", "close": 403.241974, "volume": 18663, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-01-16", "close": 403.141998, "volume": 21881, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-01-23", "close": 393.945618, "volume": 6608, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-01-30", "close": 391.296661, "volume": 28993, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-02-06", "close": 378.90152, "volume": 13858, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-02-13", "close": 377.252167, "volume": 17499, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-02-20", "close": 384.449341, "volume": 6306, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-02-27", "close": 383.099884, "volume": 2584, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-03-06", "close": 369.355255, "volume": 5250, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-03-13", "close": 370.604767, "volume": 8217, "typical_volume": 16497.55, "trend": 415.280604, "fair_value": 537.948857, "relative_strength": -23.885913, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -72.125502, "energy": 63.551783, "activity_lines": [ 375.05969, 380.013809, 390.949162, 403.037421 ] }, { "date": "2026-03-20", "close": 365.306854, "volume": 3381, "typical_volume": 15294.05, "trend": 413.067124, "fair_value": 535.817474, "relative_strength": -21.31309, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -75.033759, "energy": 66.05393, "activity_lines": [ 371.177881, 376.33707, 387.498848, 399.813308 ] }, { "date": "2026-03-27", "close": 359.559113, "volume": 10249, "typical_volume": 14332.25, "trend": 410.64542, "fair_value": 533.667982, "relative_strength": -21.869654, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -76.656138, "energy": 75.894867, "activity_lines": [ 366.176512, 372.305017, 383.873834, 396.361178 ] }, { "date": "2026-04-03", "close": 349.335358, "volume": 37689, "typical_volume": 14960.65, "trend": 408.296594, "fair_value": 531.447107, "relative_strength": -26.555079, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -83.542443, "energy": 82.590433, "activity_lines": [ 359.426573, 367.206515, 379.552459, 392.40569 ] }, { "date": "2026-04-10", "close": 356.381073, "volume": 37019, "typical_volume": 15896.9, "trend": 405.996268, "fair_value": 529.362987, "relative_strength": -25.284472, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -69.96815, "energy": 78.258849, "activity_lines": [ 357.276174, 364.200148, 376.256661, 389.056302 ] }, { "date": "2026-04-17", "close": 365.325562, "volume": 56324, "typical_volume": 18020.95, "trend": 403.812727, "fair_value": 527.433135, "relative_strength": -22.990546, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -66.00052, "energy": 62.281911, "activity_lines": [ 358.972217, 363.45488, 374.139908, 386.432385 ] }, { "date": "2026-04-24", "close": 366.774658, "volume": 43798, "typical_volume": 19540.05, "trend": 401.625908, "fair_value": 525.565013, "relative_strength": -19.631389, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -62.661179, "energy": 54.877712, "activity_lines": [ 361.503239, 363.21992, 372.467878, 384.042832 ] }, { "date": "2026-05-01", "close": 367.606384, "volume": 19303, "typical_volume": 19295.3, "trend": 399.689464, "fair_value": 523.749397, "relative_strength": -18.711283, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -47.90321, "energy": 39.751202, "activity_lines": [ 364.213649, 363.326684, 371.090029, 381.848024 ] }, { "date": "2026-05-08", "close": 357.206146, "volume": 28056, "typical_volume": 20016.1, "trend": 397.419659, "fair_value": 521.85686, "relative_strength": -19.338956, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -55.385286, "energy": 39.767821, "activity_lines": [ 362.920829, 361.84873, 368.923649, 379.107165 ] }, { "date": "2026-05-15", "close": 366.850922, "volume": 25645, "typical_volume": 20162.45, "trend": 395.458033, "fair_value": 520.11522, "relative_strength": -16.172295, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -42.938222, "energy": 31.543199, "activity_lines": [ 364.318215, 362.595167, 367.931116, 377.134989 ] }, { "date": "2026-05-22", "close": 365.951447, "volume": 19808, "typical_volume": 20556.55, "trend": 388.366681, "fair_value": 518.40229, "relative_strength": -17.902497, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -40.217779, "energy": 28.956203, "activity_lines": [ 364.717786, 363.223597, 367.052536, 375.231338 ] }, { "date": "2026-05-29", "close": 368.350098, "volume": 22944, "typical_volume": 20770.6, "trend": 385.859201, "fair_value": 516.753364, "relative_strength": -16.246063, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -38.079712, "energy": 26.140872, "activity_lines": [ 365.875181, 364.372751, 366.535465, 373.939945 ] }, { "date": "2026-06-05", "close": 348.4768, "volume": 234, "typical_volume": 19688.25, "trend": 383.548475, "fair_value": 514.924271, "relative_strength": -19.873769, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -71.023152, "energy": 41.654608, "activity_lines": [ 360.303115, 361.853246, 364.291852, 371.528178 ] }, { "date": "2026-06-12", "close": 345.0404, "volume": 2483, "typical_volume": 19482.0, "trend": 380.923419, "fair_value": 513.097563, "relative_strength": -20.846373, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -75.766763, "energy": 56.441485, "activity_lines": [ 354.860887, 358.910438, 361.981273, 369.043786 ] }, { "date": "2026-06-19", "close": 350.9936, "volume": 1664, "typical_volume": 18115.55, "trend": 378.453517, "fair_value": 511.373053, "relative_strength": -18.012529, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -61.978614, "energy": 63.864569, "activity_lines": [ 352.21411, 357.12812, 360.470547, 367.11283 ] }, { "date": "2026-06-26", "close": 347.0248, "volume": 728, "typical_volume": 17459.05, "trend": 375.696487, "fair_value": 509.643071, "relative_strength": -19.416868, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -68.077122, "energy": 75.667174, "activity_lines": [ 349.301553, 354.722156, 358.77376, 365.08517 ] }, { "date": "2026-07-03", "close": 350.7, "volume": 4495, "typical_volume": 16808.85, "trend": 373.655883, "fair_value": 507.987414, "relative_strength": -19.280206, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -62.842213, "energy": 72.51638, "activity_lines": [ 348.87584, 353.317151, 357.578785, 363.472494 ] }, { "date": "2026-07-10", "close": 348.6, "volume": 7634, "typical_volume": 16875.25, "trend": 371.60857, "fair_value": 506.344245, "relative_strength": -17.784258, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -63.489113, "energy": 58.267292, "activity_lines": [ 348.9268, 351.822595, 356.31025, 361.855985 ] }, { "date": "2026-07-17", "close": 344.85, "volume": 10495, "typical_volume": 17270.8, "trend": 369.409609, "fair_value": 504.696344, "relative_strength": -18.827182, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -70.588526, "energy": 58.742624, "activity_lines": [ 347.719547, 349.991791, 354.855282, 360.129626 ] }, { "date": "2026-07-24", "close": 346.75, "volume": 8591, "typical_volume": 17437.85, "trend": 367.342268, "fair_value": 503.100927, "relative_strength": -18.766439, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -62.700903, "energy": 48.408561, "activity_lines": [ 347.15832, 348.731099, 353.76341, 358.667716 ] }, { "date": "2026-07-31", "close": 343.65, "volume": 4347, "typical_volume": 17244.35, "trend": 365.667413, "fair_value": 501.506418, "relative_strength": -19.848111, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -67.493244, "energy": 49.910398, "activity_lines": [ 345.846667, 347.272242, 352.483943, 357.139182 ] }, { "date": "2026-08-07", "close": 343.7, "volume": 12112, "typical_volume": 17680.9, "trend": 363.682681, "fair_value": 499.943978, "relative_strength": -19.454346, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -64.927018, "energy": 49.632582, "activity_lines": [ 344.776667, 346.227956, 351.337595, 355.72193 ] } ], "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." } } }