{ "ticker": { "uuid": "b27d1cde-80d8-4956-a9e1-8e3e5e5f1690", "symbol": "ZRE", "name": "BMO Equal Weight REITs Index ETF", "exchange": "TOR", "country": "CA", "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": "^GSPTSE", "stage": 2, "stage_name": "Advancing", "phase": "2b", "phase_label": "Stage 2B \u00b7 Advancing", "transition": "stage_2_healthy", "transition_label": "Stage 2 trend intact", "confidence": 53.376, "architecture_regime": "upward_expansion", "architecture_regime_label": "Upward Expansion", "architecture_modifier": "Established expansion", "architecture_gate": "up", "architecture_direction": 50.106, "architecture_energy": 41.985, "architecture_maturity": 76.791, "architecture_confidence": 54.533, "architecture_tenure": "Established", "architecture": { "interpretation": { "headline": "The weekly architecture is expanding upward.", "body": "Trend and Activity show sustained positive alignment with constructive price acceptance. Directional energy remains positive; cooling within this regime can indicate that it is maturing." }, "scores": { "balance": 19.89, "rotation_up": 45.86, "upward_expansion": 70.23, "deceleration": 62.27, "rotation_down": 26.52, "downward_expansion": 17.9 }, "activity_lines": [ 24.481088, 24.521709, 24.217183, 23.870909 ], "activity_state": "Moderate", "activity_direction": "Contracting", "rotation_direction": "Weakening", "price_acceptance": 0.666667 }, "latest_close": 24.1, "trend_reference": 23.514333, "distance_from_trend": 0.024907, "trend_direction": "Improving", "fair_value": 20.554474, "distance_from_fair_value": 0.172494, "fair_value_direction": "Weakening", "relative_strength": -6.169835, "relative_strength_direction": "Weakening", "price_momentum": 0.034023, "excess_performance": -0.086398, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.024907, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.040032, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.172494, "read": "Premium" }, { "label": "Fair Value direction", "positive": false, "value": -0.006958, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.061698, "read": "Lagging" }, { "label": "Relative strength direction", "positive": false, "value": -0.01077, "read": "Weakening" }, { "label": "Price momentum", "positive": true, "value": 0.034023, "read": "Positive" }, { "label": "Volume balance", "positive": true, "value": 1.155516, "read": "Demand-led" } ], "volume": { "latest": 92600, "relative_activity": 1.481245, "balance": 1.155516, "dry_up": 1.129329, "accumulation_observations": 3, "distribution_observations": 2 }, "risk": { "range_context": 0.019906, "annualized_volatility": 0.125013, "from_high_reference": -0.034854, "from_low_reference": 0.141655 }, "levels": { "trend_reference": 23.514333, "fair_value_reference": 20.554474, "structural_low": 21.63473, "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis." }, "outcomes": [ { "horizon": "Near term", "sample_count": 25, "median_return": -0.004117, "positive_rate": 0.44, "directional_follow_through": 0.44, "median_excess_return": -0.014849, "regime_survival": 0.68, "best_return": 0.133333, "worst_return": -0.089834, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 10, "median_return": -0.006149, "positive_rate": 0.5, "directional_follow_through": 0.5, "median_excess_return": -0.047935, "regime_survival": 0.3, "best_return": 0.049165, "worst_return": -0.146871, "sufficient": true }, { "horizon": "Extended", "sample_count": 7, "median_return": 0.006268, "positive_rate": 0.571429, "directional_follow_through": 0.571429, "median_excess_return": -0.033317, "regime_survival": 0.142857, "best_return": 0.061532, "worst_return": -0.172055, "sufficient": true }, { "horizon": "Full cycle", "sample_count": 4, "median_return": -0.020451, "positive_rate": 0.5, "directional_follow_through": 0.5, "median_excess_return": -0.133829, "regime_survival": 0.25, "best_return": 0.116008, "worst_return": -0.118511, "sufficient": false } ], "ledger": [ { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-01-31", "end": "2025-03-07", "tenure": "Developing", "return": 0.042585, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-03-14", "end": "2025-04-11", "tenure": "Developing", "return": -0.065022, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-04-18", "end": "2025-05-02", "tenure": "New", "return": 0.035804, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-05-09", "end": "2025-05-16", "tenure": "New", "return": 0.016627, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2025-05-23", "end": "2025-05-30", "tenure": "New", "return": 0.053942, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-06-06", "end": "2025-08-08", "tenure": "Developing", "return": 0.003643, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2025-08-15", "end": "2025-08-22", "tenure": "New", "return": 0.011236, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-08-29", "end": "2025-10-17", "tenure": "Developing", "return": -0.006264, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2025-10-24", "end": "2025-12-05", "tenure": "Developing", "return": -0.044274, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2025-12-12", "end": "2025-12-19", "tenure": "New", "return": 0.024063, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-12-26", "end": "2026-01-16", "tenure": "New", "return": 0.071136, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-01-23", "end": "2026-03-06", "tenure": "Developing", "return": -0.031766, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2026-03-13", "end": "2026-04-17", "tenure": "Developing", "return": 0.080048, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-04-24", "end": "2026-08-07", "tenure": "Established", "return": 0.021155, "active": true } ], "chart_path": [ { "date": "2023-08-18", "close": 18.259783, "volume": 55569, "typical_volume": 69036.1, "trend": 19.07548, "fair_value": 19.510175, "relative_strength": -2.898455, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -43.711258, "energy": 20.486369, "activity_lines": [ 18.570332, 18.563969, 18.576948, 18.725315 ] }, { "date": "2023-08-25", "close": 18.207062, "volume": 43231, "typical_volume": 67738.2, "trend": 18.997744, "fair_value": 19.527655, "relative_strength": -3.141717, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -55.477829, "energy": 33.868057, "activity_lines": [ 18.413266, 18.51408, 18.534779, 18.669288 ] }, { "date": "2023-09-01", "close": 18.567986, "volume": 38296, "typical_volume": 63128.9, "trend": 18.92318, "fair_value": 19.549615, "relative_strength": -4.470746, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -36.566454, "energy": 26.013727, "activity_lines": [ 18.427542, 18.535728, 18.529572, 18.641562 ] }, { "date": "2023-09-08", "close": 18.276754, "volume": 31190, "typical_volume": 60626.85, "trend": 18.855481, "fair_value": 19.570398, "relative_strength": -3.619032, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -54.130223, "energy": 39.761614, "activity_lines": [ 18.36403, 18.483816, 18.498361, 18.599857 ] }, { "date": "2023-09-15", "close": 18.797432, "volume": 74026, "typical_volume": 60232.1, "trend": 18.789708, "fair_value": 19.592451, "relative_strength": -3.363048, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -24.243108, "energy": 14.246664, "activity_lines": [ 18.498136, 18.529519, 18.520805, 18.596112 ] }, { "date": "2023-09-22", "close": 18.135551, "volume": 53692, "typical_volume": 57493.1, "trend": 18.713309, "fair_value": 19.613117, "relative_strength": -2.717457, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -57.392933, "energy": 26.518444, "activity_lines": [ 18.402719, 18.445812, 18.480977, 18.553908 ] }, { "date": "2023-09-29", "close": 17.35907, "volume": 98700, "typical_volume": 59269.7, "trend": 18.611314, "fair_value": 19.626579, "relative_strength": -5.630792, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -79.693712, "energy": 62.829359, "activity_lines": [ 18.056756, 18.231533, 18.370617, 18.466538 ] }, { "date": "2023-10-06", "close": 17.048763, "volume": 127422, "typical_volume": 62773.55, "trend": 18.532247, "fair_value": 19.637112, "relative_strength": -5.826431, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -82.574917, "energy": 78.351662, "activity_lines": [ 17.663891, 17.99017, 18.238358, 18.365728 ] }, { "date": "2023-10-13", "close": 17.084227, "volume": 83797, "typical_volume": 65344.75, "trend": 18.471571, "fair_value": 19.649851, "relative_strength": -6.559296, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -77.69751, "energy": 84.526007, "activity_lines": [ 17.384129, 17.788138, 18.117451, 18.272308 ] }, { "date": "2023-10-20", "close": 16.463627, "volume": 93962, "typical_volume": 68113.25, "trend": 18.401108, "fair_value": 19.657474, "relative_strength": -8.196965, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -84.603325, "energy": 91.209711, "activity_lines": [ 16.977002, 17.501514, 17.943924, 18.142763 ] }, { "date": "2023-10-27", "close": 15.930758, "volume": 158513, "typical_volume": 74099.4, "trend": 18.295596, "fair_value": 19.664753, "relative_strength": -9.224802, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -90.026714, "energy": 95.442982, "activity_lines": [ 16.547838, 17.158011, 17.730577, 17.983385 ] }, { "date": "2023-11-03", "close": 17.587988, "volume": 289784, "typical_volume": 85681.85, "trend": 18.256847, "fair_value": 19.678977, "relative_strength": -5.208677, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -65.45118, "energy": 70.059862, "activity_lines": [ 16.818071, 17.158168, 17.688072, 17.937733 ] }, { "date": "2023-11-10", "close": 16.955393, "volume": 103142, "typical_volume": 84635.55, "trend": 18.190962, "fair_value": 19.680446, "relative_strength": -7.641956, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -62.22548, "energy": 51.763123, "activity_lines": [ 16.862178, 17.054564, 17.589817, 17.853769 ] }, { "date": "2023-11-17", "close": 17.213768, "volume": 200066, "typical_volume": 92353.95, "trend": 18.127065, "fair_value": 19.680988, "relative_strength": -8.486555, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -56.683488, "energy": 40.510416, "activity_lines": [ 16.998635, 17.027257, 17.518451, 17.790724 ] }, { "date": "2023-11-24", "close": 17.142494, "volume": 185359, "typical_volume": 98883.0, "trend": 18.066557, "fair_value": 19.679036, "relative_strength": -8.355821, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -40.486574, "energy": 24.043501, "activity_lines": [ 17.102697, 17.006318, 17.44613, 17.727203 ] }, { "date": "2023-12-01", "close": 17.706238, "volume": 182397, "typical_volume": 105115.85, "trend": 18.02831, "fair_value": 19.680898, "relative_strength": -6.840373, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -34.084642, "energy": 18.700118, "activity_lines": [ 17.349416, 17.117968, 17.433006, 17.703957 ] }, { "date": "2023-12-08", "close": 17.983738, "volume": 180029, "typical_volume": 112079.2, "trend": 17.995554, "fair_value": 19.685487, "relative_strength": -4.688762, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -16.221001, "energy": 16.459147, "activity_lines": [ 17.57027, 17.287878, 17.451131, 17.701081 ] }, { "date": "2023-12-15", "close": 18.493979, "volume": 161671, "typical_volume": 112641.8, "trend": 17.987904, "fair_value": 19.693945, "relative_strength": -2.794902, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": 8.736609, "energy": 19.065503, "activity_lines": [ 17.934821, 17.539201, 17.52256, 17.733237 ] }, { "date": "2023-12-22", "close": 18.628244, "volume": 165520, "typical_volume": 118094.95, "trend": 17.993984, "fair_value": 19.704412, "relative_strength": -3.608934, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 30.977917, "energy": 34.305447, "activity_lines": [ 18.241555, 17.78866, 17.608506, 17.77455 ] }, { "date": "2023-12-29", "close": 18.906954, "volume": 61588, "typical_volume": 119397.7, "trend": 17.998919, "fair_value": 19.716666, "relative_strength": -2.396385, "stage": 1, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 37.012203, "energy": 54.127889, "activity_lines": [ 18.546893, 18.06072, 17.72104, 17.833451 ] }, { "date": "2024-01-05", "close": 18.951904, "volume": 108965, "typical_volume": 122067.5, "trend": 18.008548, "fair_value": 19.729207, "relative_strength": -1.951169, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 36.458647, "energy": 63.468768, "activity_lines": [ 18.749584, 18.296529, 17.836698, 17.894934 ] }, { "date": "2024-01-12", "close": 19.068781, "volume": 262640, "typical_volume": 133037.95, "trend": 18.026429, "fair_value": 19.742147, "relative_strength": -1.434211, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 35.438842, "energy": 63.484077, "activity_lines": [ 18.90819, 18.498658, 17.960192, 17.963336 ] }, { "date": "2024-01-19", "close": 18.942913, "volume": 108273, "typical_volume": 136536.8, "trend": 18.076709, "fair_value": 19.752126, "relative_strength": -1.52104, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 37.423177, "energy": 61.516693, "activity_lines": [ 18.952504, 18.650979, 18.067595, 18.022464 ] }, { "date": "2024-01-26", "close": 18.960894, "volume": 146965, "typical_volume": 142325.55, "trend": 18.094113, "fair_value": 19.764684, "relative_strength": -2.256484, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 35.035686, "energy": 50.739238, "activity_lines": [ 18.972882, 18.770432, 18.174925, 18.079508 ] }, { "date": "2024-02-02", "close": 18.933809, "volume": 202137, "typical_volume": 148731.1, "trend": 18.115282, "fair_value": 19.775156, "relative_strength": -1.995997, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "up", "direction": 60.7678, "energy": 57.998245, "activity_lines": [ 18.962055, 18.853195, 18.276418, 18.133682 ] }, { "date": "2024-02-09", "close": 18.807402, "volume": 129397, "typical_volume": 152516.35, "trend": 18.118235, "fair_value": 19.784416, "relative_strength": -2.115457, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 57.593514, "energy": 46.488138, "activity_lines": [ 18.907302, 18.880405, 18.365222, 18.178335 ] }, { "date": "2024-02-16", "close": 18.924782, "volume": 91100, "typical_volume": 152136.35, "trend": 18.116641, "fair_value": 19.794478, "relative_strength": -2.393853, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 48.12262, "energy": 39.509853, "activity_lines": [ 18.90131, 18.908936, 18.462007, 18.23037 ] }, { "date": "2024-02-23", "close": 18.89769, "volume": 80342, "typical_volume": 149782.35, "trend": 18.117987, "fair_value": 19.8029, "relative_strength": -2.989597, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 44.529226, "energy": 35.598136, "activity_lines": [ 18.895886, 18.915432, 18.548755, 18.280761 ] }, { "date": "2024-03-01", "close": 18.599657, "volume": 189307, "typical_volume": 155057.85, "trend": 18.116721, "fair_value": 19.806986, "relative_strength": -4.876622, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 41.061823, "energy": 28.870425, "activity_lines": [ 18.794134, 18.860399, 18.598315, 18.311836 ] }, { "date": "2024-03-08", "close": 18.762896, "volume": 73927, "typical_volume": 154056.1, "trend": 18.120018, "fair_value": 19.809138, "relative_strength": -4.61842, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 39.529563, "energy": 26.724251, "activity_lines": [ 18.770876, 18.835566, 18.656205, 18.353525 ] }, { "date": "2024-03-15", "close": 18.454559, "volume": 88238, "typical_volume": 150542.35, "trend": 18.12651, "fair_value": 19.809314, "relative_strength": -6.406019, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 35.043416, "energy": 20.906067, "activity_lines": [ 18.656234, 18.75729, 18.67378, 18.375108 ] }, { "date": "2024-03-22", "close": 18.617794, "volume": 109657, "typical_volume": 141536.0, "trend": 18.140201, "fair_value": 19.809474, "relative_strength": -5.945615, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 31.359091, "energy": 20.740465, "activity_lines": [ 18.619527, 18.717737, 18.694884, 18.406804 ] }, { "date": "2024-03-29", "close": 18.85494, "volume": 97812, "typical_volume": 141269.5, "trend": 18.149767, "fair_value": 19.811358, "relative_strength": -5.332392, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 30.557619, "energy": 16.844062, "activity_lines": [ 18.682333, 18.729501, 18.73367, 18.452916 ] }, { "date": "2024-04-05", "close": 18.481485, "volume": 95542, "typical_volume": 136043.3, "trend": 18.156591, "fair_value": 19.807552, "relative_strength": -7.418601, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 20.28986, "energy": 13.751319, "activity_lines": [ 18.623505, 18.674963, 18.727842, 18.474317 ] }, { "date": "2024-04-12", "close": 18.244659, "volume": 121599, "typical_volume": 132855.3, "trend": 18.138165, "fair_value": 19.802379, "relative_strength": -6.910838, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 3.777855, "energy": 8.307598, "activity_lines": [ 18.493613, 18.586082, 18.693423, 18.479999 ] }, { "date": "2024-04-19", "close": 17.971395, "volume": 95245, "typical_volume": 128497.7, "trend": 18.132693, "fair_value": 19.794897, "relative_strength": -7.716661, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -7.959901, "energy": 16.890101, "activity_lines": [ 18.307183, 18.460048, 18.627731, 18.46924 ] }, { "date": "2024-04-26", "close": 18.062649, "volume": 93964, "typical_volume": 124194.45, "trend": 18.156146, "fair_value": 19.78744, "relative_strength": -7.7395, "stage": 3, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "up", "direction": -4.707452, "energy": 27.725938, "activity_lines": [ 18.183381, 18.365805, 18.569467, 18.464721 ] }, { "date": "2024-05-03", "close": 18.282261, "volume": 63070, "typical_volume": 119264.4, "trend": 18.197263, "fair_value": 19.778489, "relative_strength": -6.353635, "stage": 3, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -16.965668, "energy": 32.295394, "activity_lines": [ 18.169793, 18.327166, 18.531742, 18.472857 ] }, { "date": "2024-05-10", "close": 18.446959, "volume": 65240, "typical_volume": 114250.4, "trend": 18.242687, "fair_value": 19.770797, "relative_strength": -6.835819, "stage": 3, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "up", "direction": 2.520647, "energy": 18.680565, "activity_lines": [ 18.249282, 18.329662, 18.510711, 18.488967 ] }, { "date": "2024-05-17", "close": 18.52932, "volume": 70867, "typical_volume": 114714.35, "trend": 18.311543, "fair_value": 19.764652, "relative_strength": -6.87963, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 9.921737, "energy": 8.787161, "activity_lines": [ 18.358527, 18.34991, 18.498387, 18.507459 ] }, { "date": "2024-05-24", "close": 18.282261, "volume": 88928, "typical_volume": 113712.5, "trend": 18.389927, "fair_value": 19.755695, "relative_strength": -7.311277, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -9.311744, "energy": 7.753974, "activity_lines": [ 18.366442, 18.329484, 18.464332, 18.50557 ] }, { "date": "2024-05-31", "close": 18.128277, "volume": 254351, "typical_volume": 113298.05, "trend": 18.407937, "fair_value": 19.743963, "relative_strength": -7.631446, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -16.143279, "energy": 9.531213, "activity_lines": [ 18.302305, 18.284194, 18.418801, 18.488689 ] }, { "date": "2024-06-07", "close": 18.27536, "volume": 94852, "typical_volume": 112627.0, "trend": 18.451935, "fair_value": 19.73016, "relative_strength": -5.55087, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -7.903254, "energy": 8.734866, "activity_lines": [ 18.282819, 18.274547, 18.391756, 18.480136 ] }, { "date": "2024-06-14", "close": 17.981184, "volume": 76888, "typical_volume": 109123.15, "trend": 18.477516, "fair_value": 19.713704, "relative_strength": -5.290741, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -58.376976, "energy": 43.684542, "activity_lines": [ 18.165736, 18.221951, 18.339874, 18.449765 ] }, { "date": "2024-06-21", "close": 17.631863, "volume": 157822, "typical_volume": 106907.4, "trend": 18.493828, "fair_value": 19.694702, "relative_strength": -6.604435, "stage": 1, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -70.789794, "energy": 62.512152, "activity_lines": [ 17.963263, 18.114938, 18.259388, 18.395207 ] }, { "date": "2024-06-28", "close": 18.074846, "volume": 91100, "typical_volume": 104992.55, "trend": 18.506115, "fair_value": 19.677823, "relative_strength": -5.478572, "stage": 1, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -55.588992, "energy": 52.683626, "activity_lines": [ 17.968282, 18.099609, 18.22729, 18.368175 ] }, { "date": "2024-07-05", "close": 18.185675, "volume": 145286, "typical_volume": 107701.85, "trend": 18.512846, "fair_value": 19.657244, "relative_strength": -5.484362, "stage": 1, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -52.798623, "energy": 46.22792, "activity_lines": [ 18.024072, 18.102551, 18.209236, 18.347502 ] }, { "date": "2024-07-12", "close": 18.915319, "volume": 148741, "typical_volume": 111121.8, "trend": 18.526891, "fair_value": 19.641343, "relative_strength": -4.167281, "stage": 1, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -7.892395, "energy": 5.582923, "activity_lines": [ 18.31925, 18.235918, 18.264192, 18.373468 ] }, { "date": "2024-07-19", "close": 19.192404, "volume": 67215, "typical_volume": 105017.2, "trend": 18.545696, "fair_value": 19.628243, "relative_strength": -2.669213, "stage": 2, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "mixed", "direction": 35.128367, "energy": 33.94444, "activity_lines": [ 18.664125, 18.408154, 18.345452, 18.416404 ] }, { "date": "2024-07-26", "close": 19.755798, "volume": 100575, "typical_volume": 106349.6, "trend": 18.573991, "fair_value": 19.617676, "relative_strength": -0.241174, "stage": 2, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 48.130339, "energy": 66.348156, "activity_lines": [ 19.116051, 18.669271, 18.477547, 18.494475 ] }, { "date": "2024-08-02", "close": 19.487169, "volume": 316827, "typical_volume": 117779.05, "trend": 18.591833, "fair_value": 19.606005, "relative_strength": 1.101151, "stage": 2, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 45.332257, "energy": 72.687015, "activity_lines": [ 19.336837, 18.859248, 18.579329, 18.55339 ] }, { "date": "2024-08-09", "close": 19.60775, "volume": 88830, "typical_volume": 116737.7, "trend": 18.609799, "fair_value": 19.592277, "relative_strength": 1.425484, "stage": 2, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "up", "direction": 71.5469, "energy": 83.405238, "activity_lines": [ 19.503663, 19.04924, 18.687679, 18.618933 ] }, { "date": "2024-08-16", "close": 19.663397, "volume": 76691, "typical_volume": 115681.65, "trend": 18.633815, "fair_value": 19.579935, "relative_strength": -1.416222, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 71.061197, "energy": 82.453099, "activity_lines": [ 19.594233, 19.222451, 18.796614, 18.686907 ] }, { "date": "2024-08-23", "close": 20.48889, "volume": 146470, "typical_volume": 118228.05, "trend": 18.684748, "fair_value": 19.571906, "relative_strength": 1.787228, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 88.775886, "energy": 88.766818, "activity_lines": [ 19.910095, 19.520515, 18.980318, 18.806589 ] }, { "date": "2024-08-30", "close": 20.757904, "volume": 282381, "typical_volume": 126267.15, "trend": 18.745551, "fair_value": 19.564568, "relative_strength": 2.891664, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 88.849327, "energy": 93.028489, "activity_lines": [ 20.229196, 19.821895, 19.180083, 18.940341 ] }, { "date": "2024-09-06", "close": 20.962788, "volume": 108175, "typical_volume": 126913.65, "trend": 18.817398, "fair_value": 19.560093, "relative_strength": 6.460239, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 85.873157, "energy": 93.288673, "activity_lines": [ 20.549785, 20.10369, 19.387393, 19.083389 ] }, { "date": "2024-09-13", "close": 22.285179, "volume": 149235, "typical_volume": 129677.2, "trend": 18.929411, "fair_value": 19.562803, "relative_strength": 9.312698, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 96.349479, "energy": 98.045366, "activity_lines": [ 21.212796, 20.573412, 19.7064, 19.307117 ] }, { "date": "2024-09-20", "close": 22.117552, "volume": 131469, "typical_volume": 133097.15, "trend": 19.03674, "fair_value": 19.56604, "relative_strength": 7.109309, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 86.559038, "energy": 94.837209, "activity_lines": [ 21.641436, 20.93812, 19.989335, 19.512803 ] }, { "date": "2024-09-27", "close": 22.15477, "volume": 142721, "typical_volume": 136971.2, "trend": 19.155243, "fair_value": 19.571842, "relative_strength": 6.802633, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 79.094364, "energy": 92.196786, "activity_lines": [ 21.918872, 21.251372, 20.257552, 19.713966 ] }, { "date": "2024-10-04", "close": 21.593889, "volume": 214278, "typical_volume": 144141.75, "trend": 19.24961, "fair_value": 19.572547, "relative_strength": 3.193271, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 68.325885, "energy": 84.756607, "activity_lines": [ 21.898288, 21.408785, 20.454695, 19.871298 ] }, { "date": "2024-10-11", "close": 21.238667, "volume": 156538, "typical_volume": 147522.25, "trend": 19.342413, "fair_value": 19.568851, "relative_strength": 0.23862, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 66.128084, "energy": 65.850962, "activity_lines": [ 21.703566, 21.468192, 20.603414, 19.999625 ] }, { "date": "2024-10-18", "close": 21.593889, "volume": 115084, "typical_volume": 140558.9, "trend": 19.441617, "fair_value": 19.564014, "relative_strength": 0.453446, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 62.926277, "energy": 61.09292, "activity_lines": [ 21.608858, 21.560339, 20.771886, 20.144881 ] }, { "date": "2024-10-25", "close": 21.107794, "volume": 177068, "typical_volume": 144669.7, "trend": 19.516712, "fair_value": 19.55601, "relative_strength": -0.395576, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 48.428527, "energy": 47.143674, "activity_lines": [ 21.398205, 21.527994, 20.87756, 20.252376 ] }, { "date": "2024-11-01", "close": 20.376238, "volume": 215660, "typical_volume": 151608.3, "trend": 19.57987, "fair_value": 19.539938, "relative_strength": -2.919655, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 39.527918, "energy": 29.510306, "activity_lines": [ 21.011017, 21.336377, 20.900075, 20.30783 ] }, { "date": "2024-11-08", "close": 20.545181, "volume": 213093, "typical_volume": 154371.85, "trend": 19.656554, "fair_value": 19.527496, "relative_strength": -4.037965, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 32.734387, "energy": 29.378088, "activity_lines": [ 20.798712, 21.177525, 20.927274, 20.370108 ] }, { "date": "2024-11-15", "close": 20.413782, "volume": 190392, "typical_volume": 159336.45, "trend": 19.737967, "fair_value": 19.514679, "relative_strength": -5.084896, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 23.184133, "energy": 29.177034, "activity_lines": [ 20.612522, 20.99865, 20.928086, 20.418961 ] }, { "date": "2024-11-22", "close": 20.338694, "volume": 219015, "typical_volume": 163022.9, "trend": 19.813835, "fair_value": 19.503524, "relative_strength": -7.381484, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 1.250283, "energy": 23.333888, "activity_lines": [ 20.456294, 20.816104, 20.910609, 20.457718 ] }, { "date": "2024-11-29", "close": 20.781658, "volume": 184667, "typical_volume": 164819.2, "trend": 19.897149, "fair_value": 19.498544, "relative_strength": -5.999788, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 8.017968, "energy": 18.900572, "activity_lines": [ 20.531401, 20.749488, 20.925067, 20.520158 ] }, { "date": "2024-12-06", "close": 20.376394, "volume": 138674, "typical_volume": 168392.15, "trend": 19.961463, "fair_value": 19.489506, "relative_strength": -7.801983, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 0.070103, "energy": 15.022724, "activity_lines": [ 20.493162, 20.633477, 20.892041, 20.551077 ] }, { "date": "2024-12-13", "close": 19.989981, "volume": 322847, "typical_volume": 179505.75, "trend": 20.010152, "fair_value": 19.476428, "relative_strength": -7.829754, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -15.429899, "energy": 24.482963, "activity_lines": [ 20.326108, 20.479543, 20.816575, 20.552917 ] }, { "date": "2024-12-20", "close": 19.556433, "volume": 218522, "typical_volume": 174590.5, "trend": 20.052624, "fair_value": 19.45885, "relative_strength": -7.153168, "stage": 3, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -41.776962, "energy": 50.03618, "activity_lines": [ 20.051552, 20.275944, 20.698704, 20.523645 ] }, { "date": "2024-12-27", "close": 19.433918, "volume": 65538, "typical_volume": 173425.9, "trend": 20.096146, "fair_value": 19.437402, "relative_strength": -8.223464, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -41.861867, "energy": 63.146028, "activity_lines": [ 19.793314, 20.080655, 20.568835, 20.483728 ] }, { "date": "2025-01-03", "close": 19.774693, "volume": 139562, "typical_volume": 176569.45, "trend": 20.146123, "fair_value": 19.4207, "relative_strength": -7.403298, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -27.117389, "energy": 58.617192, "activity_lines": [ 19.708986, 19.986598, 20.472249, 20.462989 ] }, { "date": "2025-01-10", "close": 19.168867, "volume": 223457, "typical_volume": 180418.8, "trend": 20.185713, "fair_value": 19.400586, "relative_strength": -8.855065, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -50.656381, "energy": 68.846005, "activity_lines": [ 19.489847, 19.806629, 20.317435, 20.399941 ] }, { "date": "2025-01-17", "close": 19.121532, "volume": 283466, "typical_volume": 180473.05, "trend": 20.235368, "fair_value": 19.383254, "relative_strength": -9.876488, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -47.114729, "energy": 68.912544, "activity_lines": [ 19.335432, 19.640006, 20.164399, 20.331284 ] }, { "date": "2025-01-24", "close": 19.263523, "volume": 156638, "typical_volume": 182896.2, "trend": 20.274991, "fair_value": 19.365779, "relative_strength": -10.347776, "stage": 3, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -65.867341, "energy": 71.470159, "activity_lines": [ 19.286243, 19.525084, 20.032677, 20.268584 ] }, { "date": "2025-01-31", "close": 19.434839, "volume": 149728, "typical_volume": 182920.85, "trend": 20.31663, "fair_value": 19.34809, "relative_strength": -9.497085, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -63.567218, "energy": 70.146297, "activity_lines": [ 19.313687, 19.462223, 19.925364, 20.214381 ] }, { "date": "2025-02-07", "close": 19.729597, "volume": 330152, "typical_volume": 192855.0, "trend": 20.343772, "fair_value": 19.332239, "relative_strength": -7.545638, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -58.102053, "energy": 44.470875, "activity_lines": [ 19.439323, 19.46939, 19.859695, 20.176508 ] }, { "date": "2025-02-14", "close": 19.786648, "volume": 301528, "typical_volume": 200795.35, "trend": 20.36358, "fair_value": 19.316648, "relative_strength": -7.182558, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -44.022009, "energy": 30.518501, "activity_lines": [ 19.586982, 19.506057, 19.810832, 20.140564 ] }, { "date": "2025-02-21", "close": 19.815172, "volume": 136897, "typical_volume": 196926.3, "trend": 20.36556, "fair_value": 19.299032, "relative_strength": -5.600872, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -37.844902, "energy": 21.932974, "activity_lines": [ 19.702963, 19.558633, 19.775961, 20.105183 ] }, { "date": "2025-02-28", "close": 20.061937, "volume": 198288, "typical_volume": 199013.8, "trend": 20.384719, "fair_value": 19.281946, "relative_strength": -5.193704, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -30.655329, "energy": 23.131041, "activity_lines": [ 19.854957, 19.659254, 19.773063, 20.085594 ] }, { "date": "2025-03-07", "close": 20.262463, "volume": 171638, "typical_volume": 201841.5, "trend": 20.406542, "fair_value": 19.262512, "relative_strength": -1.689846, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -15.000364, "energy": 18.481756, "activity_lines": [ 20.020565, 19.787143, 19.794865, 20.077707 ] }, { "date": "2025-03-14", "close": 19.928257, "volume": 110346, "typical_volume": 198505.4, "trend": 20.415371, "fair_value": 19.239197, "relative_strength": -2.428123, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -12.458251, "energy": 16.294761, "activity_lines": [ 20.019596, 19.839203, 19.791178, 20.04685 ] }, { "date": "2025-03-21", "close": 20.166971, "volume": 99491, "typical_volume": 192696.95, "trend": 20.40464, "fair_value": 19.220309, "relative_strength": -2.812869, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -4.039986, "energy": 15.663171, "activity_lines": [ 20.084955, 19.931873, 19.815843, 20.030824 ] }, { "date": "2025-03-28", "close": 20.147631, "volume": 96726, "typical_volume": 186878.6, "trend": 20.384298, "fair_value": 19.201931, "relative_strength": -2.001746, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -4.429696, "energy": 14.271814, "activity_lines": [ 20.118512, 20.00288, 19.839662, 20.014243 ] }, { "date": "2025-04-04", "close": 19.399649, "volume": 136009, "typical_volume": 184159.45, "trend": 20.332193, "fair_value": 19.180712, "relative_strength": 0.715153, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -39.652203, "energy": 18.134364, "activity_lines": [ 19.880577, 19.919234, 19.794139, 19.950717 ] }, { "date": "2025-04-11", "close": 18.632484, "volume": 225827, "typical_volume": 184500.05, "trend": 20.210437, "fair_value": 19.155578, "relative_strength": -4.78949, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -60.691894, "energy": 48.860344, "activity_lines": [ 19.431074, 19.693628, 19.680381, 19.841058 ] }, { "date": "2025-04-18", "close": 19.620205, "volume": 79257, "typical_volume": 179229.55, "trend": 20.127192, "fair_value": 19.137463, "relative_strength": -2.219806, "stage": 1, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -47.784119, "energy": 39.325749, "activity_lines": [ 19.419476, 19.662196, 19.668816, 19.802979 ] }, { "date": "2025-04-25", "close": 19.850359, "volume": 94359, "typical_volume": 177013.8, "trend": 20.050378, "fair_value": 19.124314, "relative_strength": -3.103001, "stage": 1, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -42.485807, "energy": 31.781081, "activity_lines": [ 19.505133, 19.674599, 19.684702, 19.785119 ] }, { "date": "2025-05-02", "close": 20.322687, "volume": 67808, "typical_volume": 164261.85, "trend": 20.008005, "fair_value": 19.12209, "relative_strength": -2.021552, "stage": 1, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -11.992314, "energy": 9.726638, "activity_lines": [ 19.76934, 19.771722, 19.748076, 19.802687 ] }, { "date": "2025-05-09", "close": 20.274525, "volume": 75309, "typical_volume": 157101.2, "trend": 19.975867, "fair_value": 19.120298, "relative_strength": -3.449871, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 19.058211, "energy": 18.970125, "activity_lines": [ 20.005823, 19.85086, 19.805279, 19.819882 ] }, { "date": "2025-05-16", "close": 20.611633, "volume": 120611, "typical_volume": 159854.85, "trend": 19.943125, "fair_value": 19.120085, "relative_strength": -4.09632, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 38.7653, "energy": 38.963027, "activity_lines": [ 20.29635, 19.987425, 19.891168, 19.860899 ] }, { "date": "2025-05-23", "close": 20.197474, "volume": 59912, "typical_volume": 155872.35, "trend": 19.912781, "fair_value": 19.114878, "relative_strength": -5.604887, "stage": 4, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 28.417082, "energy": 40.719595, "activity_lines": [ 20.316881, 20.042341, 19.932005, 19.877309 ] }, { "date": "2025-05-30", "close": 21.286959, "volume": 142622, "typical_volume": 151830.6, "trend": 19.943138, "fair_value": 19.116815, "relative_strength": -1.632843, "stage": 3, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "up", "direction": 78.701816, "energy": 72.256153, "activity_lines": [ 20.662088, 20.290449, 20.07459, 19.965965 ] }, { "date": "2025-06-06", "close": 21.374006, "volume": 83600, "typical_volume": 141837.3, "trend": 19.970766, "fair_value": 19.126437, "relative_strength": -2.130424, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 77.6774, "energy": 77.409637, "activity_lines": [ 20.940539, 20.534021, 20.215378, 20.058279 ] }, { "date": "2025-06-13", "close": 21.374006, "volume": 110346, "typical_volume": 139522.7, "trend": 20.002773, "fair_value": 19.145261, "relative_strength": -2.352744, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 72.641213, "energy": 77.610178, "activity_lines": [ 21.148901, 20.755295, 20.34544, 20.148811 ] }, { "date": "2025-06-20", "close": 21.315977, "volume": 62477, "typical_volume": 135160.15, "trend": 20.035349, "fair_value": 19.160468, "relative_strength": -2.562116, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 67.335995, "energy": 77.763737, "activity_lines": [ 21.264621, 20.930121, 20.459926, 20.233534 ] }, { "date": "2025-06-27", "close": 21.326244, "volume": 92976, "typical_volume": 123301.35, "trend": 20.053502, "fair_value": 19.175795, "relative_strength": -3.164728, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 63.426122, "energy": 72.541313, "activity_lines": [ 21.336808, 21.058023, 20.566432, 20.316817 ] }, { "date": "2025-07-04", "close": 21.957485, "volume": 69387, "typical_volume": 111694.3, "trend": 20.106205, "fair_value": 19.195649, "relative_strength": -1.591035, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 79.95921, "energy": 78.537629, "activity_lines": [ 21.544157, 21.269678, 20.725453, 20.439655 ] }, { "date": "2025-07-11", "close": 21.772968, "volume": 71262, "typical_volume": 108412.55, "trend": 20.165638, "fair_value": 19.21683, "relative_strength": -2.253306, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 71.235233, "energy": 77.403518, "activity_lines": [ 21.645298, 21.409472, 20.856564, 20.547188 ] }, { "date": "2025-07-18", "close": 21.743834, "volume": 85770, "typical_volume": 102786.65, "trend": 20.238551, "fair_value": 19.231469, "relative_strength": -3.310744, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 67.733351, "energy": 79.161955, "activity_lines": [ 21.710131, 21.5176, 20.975577, 20.649007 ] }, { "date": "2025-07-25", "close": 21.598166, "volume": 113604, "typical_volume": 99884.95, "trend": 20.310693, "fair_value": 19.241315, "relative_strength": -4.409203, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 64.643416, "energy": 76.320193, "activity_lines": [ 21.701752, 21.572529, 21.072708, 20.736724 ] }, { "date": "2025-08-01", "close": 21.31535, "volume": 129792, "typical_volume": 100857.25, "trend": 20.362048, "fair_value": 19.250741, "relative_strength": -3.808237, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 60.542096, "energy": 51.721598, "activity_lines": [ 21.580289, 21.558099, 21.136544, 20.801541 ] }, { "date": "2025-08-08", "close": 21.451864, "volume": 94062, "typical_volume": 100585.8, "trend": 20.438148, "fair_value": 19.257558, "relative_strength": -5.532101, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 48.451803, "energy": 40.721613, "activity_lines": [ 21.505057, 21.548166, 21.206775, 20.871851 ] }, { "date": "2025-08-15", "close": 21.695635, "volume": 102747, "typical_volume": 100886.85, "trend": 20.523952, "fair_value": 19.268243, "relative_strength": -4.792373, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 53.218703, "energy": 39.447629, "activity_lines": [ 21.54479, 21.579556, 21.294105, 20.95298 ] }, { "date": "2025-08-22", "close": 21.939405, "volume": 96529, "typical_volume": 98912.85, "trend": 20.613148, "fair_value": 19.284028, "relative_strength": -4.939372, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 71.734794, "energy": 49.380057, "activity_lines": [ 21.670935, 21.64942, 21.397279, 21.044299 ] }, { "date": "2025-08-29", "close": 21.998699, "volume": 88139, "typical_volume": 92028.45, "trend": 20.69861, "fair_value": 19.303046, "relative_strength": -5.188276, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 73.364257, "energy": 63.966296, "activity_lines": [ 21.803807, 21.719784, 21.494006, 21.13369 ] }, { "date": "2025-09-05", "close": 22.331568, "volume": 88139, "typical_volume": 92472.55, "trend": 20.785342, "fair_value": 19.321399, "relative_strength": -5.023565, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 80.677023, "energy": 80.449584, "activity_lines": [ 22.020932, 21.838258, 21.606406, 21.239042 ] }, { "date": "2025-09-12", "close": 22.468632, "volume": 165026, "typical_volume": 96005.9, "trend": 20.874742, "fair_value": 19.34316, "relative_strength": -4.79837, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 79.973882, "energy": 86.312685, "activity_lines": [ 22.215998, 21.963373, 21.718948, 21.347641 ] }, { "date": "2025-09-19", "close": 22.360939, "volume": 182694, "typical_volume": 101750.2, "trend": 20.9596, "fair_value": 19.373218, "relative_strength": -6.405045, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 70.725302, "energy": 81.952032, "activity_lines": [ 22.307382, 22.059614, 21.808765, 21.443525 ] }, { "date": "2025-09-26", "close": 22.047649, "volume": 117750, "typical_volume": 103872.25, "trend": 21.025791, "fair_value": 19.402495, "relative_strength": -7.285661, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 64.753101, "energy": 57.59351, "activity_lines": [ 22.249982, 22.088203, 21.859039, 21.513722 ] }, { "date": "2025-10-03", "close": 22.450661, "volume": 93963, "typical_volume": 102539.85, "trend": 21.098731, "fair_value": 19.436572, "relative_strength": -7.442373, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 71.794807, "energy": 59.039328, "activity_lines": [ 22.319703, 22.184544, 21.939252, 21.605649 ] }, { "date": "2025-10-10", "close": 21.664297, "volume": 173317, "typical_volume": 108210.1, "trend": 21.156599, "fair_value": 19.464797, "relative_strength": -8.512665, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 46.736947, "energy": 34.588776, "activity_lines": [ 22.097172, 22.122408, 21.935816, 21.642137 ] }, { "date": "2025-10-17", "close": 21.860889, "volume": 70077, "typical_volume": 104582.85, "trend": 21.213063, "fair_value": 19.493039, "relative_strength": -8.151987, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 39.542682, "energy": 23.138849, "activity_lines": [ 21.984657, 22.089673, 21.944118, 21.687575 ] }, { "date": "2025-10-24", "close": 22.263899, "volume": 110347, "typical_volume": 105920.2, "trend": 21.283605, "fair_value": 19.519541, "relative_strength": -6.919713, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 47.201069, "energy": 26.740252, "activity_lines": [ 22.046994, 22.122775, 21.988069, 21.755371 ] }, { "date": "2025-10-31", "close": 21.664335, "volume": 221484, "typical_volume": 111477.1, "trend": 21.359094, "fair_value": 19.543285, "relative_strength": -8.873692, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 23.886646, "energy": 18.049668, "activity_lines": [ 21.915946, 22.036533, 21.970681, 21.779934 ] }, { "date": "2025-11-07", "close": 21.575508, "volume": 194834, "typical_volume": 118094.95, "trend": 21.457195, "fair_value": 19.557884, "relative_strength": -7.945506, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 5.933195, "energy": 9.829893, "activity_lines": [ 21.780843, 21.939143, 21.943451, 21.793896 ] }, { "date": "2025-11-14", "close": 21.506422, "volume": 99688, "typical_volume": 118430.55, "trend": 21.520069, "fair_value": 19.574862, "relative_strength": -9.246651, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 1.024672, "energy": 10.963903, "activity_lines": [ 21.681056, 21.836885, 21.908406, 21.797072 ] }, { "date": "2025-11-21", "close": 21.5459, "volume": 70473, "typical_volume": 118484.85, "trend": 21.576587, "fair_value": 19.589108, "relative_strength": -8.388677, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 0.38865, "energy": 16.53165, "activity_lines": [ 21.604952, 21.756808, 21.876262, 21.798739 ] }, { "date": "2025-11-28", "close": 21.753899, "volume": 91594, "typical_volume": 119501.45, "trend": 21.624294, "fair_value": 19.606649, "relative_strength": -10.848803, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -14.004408, "energy": 18.641906, "activity_lines": [ 21.619181, 21.731326, 21.865887, 21.810178 ] }, { "date": "2025-12-05", "close": 21.278189, "volume": 81526, "typical_volume": 119289.25, "trend": 21.65775, "fair_value": 19.62174, "relative_strength": -12.353362, "stage": 3, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -29.800123, "energy": 37.077192, "activity_lines": [ 21.50884, 21.630389, 21.810298, 21.787849 ] }, { "date": "2025-12-12", "close": 21.416935, "volume": 93766, "typical_volume": 118297.35, "trend": 21.684593, "fair_value": 19.638484, "relative_strength": -12.143047, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -30.723557, "energy": 32.40811, "activity_lines": [ 21.47049, 21.568668, 21.77014, 21.772312 ] }, { "date": "2025-12-19", "close": 21.932291, "volume": 133641, "typical_volume": 118489.8, "trend": 21.74242, "fair_value": 19.659348, "relative_strength": -10.443647, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -13.532259, "energy": 11.099013, "activity_lines": [ 21.614497, 21.619443, 21.779926, 21.788293 ] }, { "date": "2025-12-26", "close": 21.813362, "volume": 86659, "typical_volume": 118119.65, "trend": 21.759967, "fair_value": 19.679067, "relative_strength": -11.382892, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -5.401573, "energy": 6.453388, "activity_lines": [ 21.69047, 21.643722, 21.775448, 21.79287 ] }, { "date": "2026-01-02", "close": 21.754374, "volume": 110279, "typical_volume": 118496.25, "trend": 21.772646, "fair_value": 19.696328, "relative_strength": -11.063403, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -1.54735, "energy": 6.106347, "activity_lines": [ 21.72895, 21.65814, 21.763631, 21.792509 ] }, { "date": "2026-01-09", "close": 22.815084, "volume": 243300, "typical_volume": 125834.8, "trend": 21.820682, "fair_value": 19.713873, "relative_strength": -8.643047, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 64.250055, "energy": 41.788371, "activity_lines": [ 22.120968, 21.874679, 21.852554, 21.859763 ] }, { "date": "2026-01-16", "close": 23.365082, "volume": 139200, "typical_volume": 128387.85, "trend": 21.888986, "fair_value": 19.733575, "relative_strength": -7.522635, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 84.669721, "energy": 78.816037, "activity_lines": [ 22.593859, 22.170295, 21.989688, 21.959402 ] }, { "date": "2026-01-23", "close": 23.325796, "volume": 133500, "typical_volume": 130655.9, "trend": 21.955637, "fair_value": 19.751438, "relative_strength": -7.846978, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 82.323219, "energy": 85.693267, "activity_lines": [ 22.923778, 22.426229, 22.116573, 22.052099 ] }, { "date": "2026-01-30", "close": 22.902794, "volume": 147700, "typical_volume": 129789.6, "trend": 21.987148, "fair_value": 19.764886, "relative_strength": -5.952411, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 65.619386, "energy": 82.236339, "activity_lines": [ 23.019796, 22.572175, 22.198439, 22.113206 ] }, { "date": "2026-02-06", "close": 23.307018, "volume": 327000, "typical_volume": 137004.9, "trend": 22.038283, "fair_value": 19.784113, "relative_strength": -5.769268, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 71.463759, "energy": 84.357884, "activity_lines": [ 23.177927, 22.766946, 22.316734, 22.198359 ] }, { "date": "2026-02-13", "close": 22.774626, "volume": 180300, "typical_volume": 140132.4, "trend": 22.072642, "fair_value": 19.796959, "relative_strength": -9.398716, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 63.272104, "energy": 66.635715, "activity_lines": [ 23.055084, 22.836679, 22.379821, 22.245865 ] }, { "date": "2026-02-20", "close": 23.021101, "volume": 57900, "typical_volume": 138329.25, "trend": 22.120073, "fair_value": 19.813584, "relative_strength": -10.188827, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 60.903954, "energy": 47.464022, "activity_lines": [ 23.017096, 22.924018, 22.462919, 22.307056 ] }, { "date": "2026-02-27", "close": 23.218239, "volume": 118200, "typical_volume": 135573.4, "trend": 22.183503, "fair_value": 19.831529, "relative_strength": -10.539411, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 66.747638, "energy": 48.251859, "activity_lines": [ 23.067754, 23.018034, 22.562076, 22.377905 ] }, { "date": "2026-03-06", "close": 22.584835, "volume": 73600, "typical_volume": 135749.55, "trend": 22.221269, "fair_value": 19.851811, "relative_strength": -9.362444, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 44.610828, "energy": 30.361029, "activity_lines": [ 22.914447, 22.973504, 22.593509, 22.403798 ] }, { "date": "2026-03-13", "close": 22.099886, "volume": 95900, "typical_volume": 135027.2, "trend": 22.234744, "fair_value": 19.872294, "relative_strength": -9.525893, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 24.051865, "energy": 16.372309, "activity_lines": [ 22.620688, 22.826775, 22.575309, 22.395966 ] }, { "date": "2026-03-20", "close": 21.713905, "volume": 62000, "typical_volume": 127053.0, "trend": 22.227227, "fair_value": 19.892399, "relative_strength": -7.35893, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 2.587334, "energy": 16.639619, "activity_lines": [ 22.278744, 22.603586, 22.52113, 22.362364 ] }, { "date": "2026-03-27", "close": 21.832668, "volume": 53900, "typical_volume": 120006.3, "trend": 22.221693, "fair_value": 19.909941, "relative_strength": -8.419695, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -22.501278, "energy": 31.152472, "activity_lines": [ 22.047102, 22.422012, 22.478026, 22.336908 ] }, { "date": "2026-04-03", "close": 22.597506, "volume": 66500, "typical_volume": 118346.9, "trend": 22.230557, "fair_value": 19.934602, "relative_strength": -8.132265, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -9.155053, "energy": 22.581634, "activity_lines": [ 22.149635, 22.407361, 22.506539, 22.361154 ] }, { "date": "2026-04-10", "close": 22.994825, "volume": 80000, "typical_volume": 118823.25, "trend": 22.248097, "fair_value": 19.960646, "relative_strength": -7.890914, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 27.692493, "energy": 18.349716, "activity_lines": [ 22.42599, 22.478191, 22.567696, 22.410462 ] }, { "date": "2026-04-17", "close": 23.868927, "volume": 69700, "typical_volume": 117728.55, "trend": 22.298363, "fair_value": 19.99102, "relative_strength": -5.916994, "stage": 3, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "up", "direction": 71.914063, "energy": 49.864237, "activity_lines": [ 22.96638, 22.706276, 22.705202, 22.515032 ] }, { "date": "2026-04-24", "close": 23.600737, "volume": 93600, "typical_volume": 118332.25, "trend": 22.350133, "fair_value": 20.020782, "relative_strength": -5.497015, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 67.625381, "energy": 66.014664, "activity_lines": [ 23.299437, 22.875382, 22.807094, 22.599056 ] }, { "date": "2026-05-01", "close": 23.495628, "volume": 67300, "typical_volume": 117008.95, "trend": 22.384965, "fair_value": 20.050539, "relative_strength": -5.589706, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 62.857587, "energy": 72.951553, "activity_lines": [ 23.471668, 23.010358, 22.887915, 22.672959 ] }, { "date": "2026-05-08", "close": 23.684311, "volume": 84700, "typical_volume": 114561.9, "trend": 22.452299, "fair_value": 20.080782, "relative_strength": -5.092837, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 69.140366, "energy": 77.761655, "activity_lines": [ 23.59593, 23.171011, 22.976808, 22.756787 ] }, { "date": "2026-05-15", "close": 23.058685, "volume": 57600, "typical_volume": 113108.95, "trend": 22.492226, "fair_value": 20.108571, "relative_strength": -6.657632, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 60.622161, "energy": 60.217032, "activity_lines": [ 23.439197, 23.209441, 22.997775, 22.795909 ] }, { "date": "2026-05-22", "close": 23.644587, "volume": 65400, "typical_volume": 110865.0, "trend": 22.538249, "fair_value": 20.141897, "relative_strength": -5.822941, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 65.280272, "energy": 44.029724, "activity_lines": [ 23.473507, 23.345782, 23.068612, 22.870255 ] }, { "date": "2026-05-29", "close": 23.793779, "volume": 151400, "typical_volume": 106270.0, "trend": 22.60923, "fair_value": 20.174171, "relative_strength": -5.719244, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 67.482698, "energy": 44.609123, "activity_lines": [ 23.572503, 23.481164, 23.144656, 22.951257 ] }, { "date": "2026-06-05", "close": 23.853563, "volume": 37700, "typical_volume": 101195.0, "trend": 22.685165, "fair_value": 20.207444, "relative_strength": -4.212354, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 66.131332, "energy": 44.118452, "activity_lines": [ 23.678558, 23.5896, 23.221734, 23.031537 ] }, { "date": "2026-06-12", "close": 24.291973, "volume": 16300, "typical_volume": 95335.0, "trend": 22.778017, "fair_value": 20.244365, "relative_strength": -3.631354, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 77.074312, "energy": 64.069484, "activity_lines": [ 23.906888, 23.741004, 23.338239, 23.135202 ] }, { "date": "2026-06-19", "close": 24.242155, "volume": 13600, "typical_volume": 88630.0, "trend": 22.867892, "fair_value": 20.288003, "relative_strength": -3.628602, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 71.89997, "energy": 75.852967, "activity_lines": [ 24.0781, 23.852541, 23.445399, 23.229662 ] }, { "date": "2026-06-26", "close": 24.473104, "volume": 25600, "typical_volume": 73560.0, "trend": 22.958532, "fair_value": 20.326685, "relative_strength": -2.482408, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 76.718379, "energy": 80.919175, "activity_lines": [ 24.247398, 23.98339, 23.568175, 23.333224 ] }, { "date": "2026-07-03", "close": 24.800928, "volume": 23500, "typical_volume": 65720.0, "trend": 23.075957, "fair_value": 20.368366, "relative_strength": -1.64061, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 82.824097, "energy": 88.780442, "activity_lines": [ 24.470735, 24.162858, 23.716621, 23.452088 ] }, { "date": "2026-07-10", "close": 24.671394, "volume": 61100, "typical_volume": 65880.0, "trend": 23.184439, "fair_value": 20.406523, "relative_strength": -2.033523, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 72.379912, "energy": 85.096064, "activity_lines": [ 24.583752, 24.296953, 23.84308, 23.55502 ] }, { "date": "2026-07-17", "close": 24.820856, "volume": 73900, "typical_volume": 63665.0, "trend": 23.280724, "fair_value": 20.444012, "relative_strength": -1.0784, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 75.649411, "energy": 87.987696, "activity_lines": [ 24.692067, 24.436845, 23.975916, 23.660595 ] }, { "date": "2026-07-24", "close": 24.761072, "volume": 50000, "typical_volume": 62485.0, "trend": 23.378981, "fair_value": 20.481857, "relative_strength": -1.382379, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 69.250331, "energy": 83.580431, "activity_lines": [ 24.745195, 24.545204, 24.095426, 23.756101 ] }, { "date": "2026-07-31", "close": 24.530001, "volume": 65900, "typical_volume": 60985.0, "trend": 23.471502, "fair_value": 20.519628, "relative_strength": -1.659651, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 65.127129, "energy": 58.873711, "activity_lines": [ 24.686705, 24.580596, 24.182567, 23.830361 ] }, { "date": "2026-08-07", "close": 24.1, "volume": 92600, "typical_volume": 62515.0, "trend": 23.514333, "fair_value": 20.554474, "relative_strength": -6.169835, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 50.105949, "energy": 41.984572, "activity_lines": [ 24.481088, 24.521709, 24.217183, 23.870909 ] } ], "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." } } }