{ "ticker": { "uuid": "b60251d0-a92a-42b1-aa6e-58e7476916d6", "symbol": "ENY", "name": "Energy S.p.A.", "exchange": "MIL", "country": "IT", "assetType": "equity" }, "methodBoundary": "Trend Architecture is a weekly structural classification, not a forecast, probability of return, recommendation or execution signal. Confidence measures geometric agreement and external confirmation only.", "analysis": { "eligible": true, "as_of": "2026-08-07", "benchmark": "FTSEMIB.MI", "stage": 4, "stage_name": "Declining", "phase": "4a", "phase_label": "Stage 4A \u00b7 Breakdown", "transition": "stage_4_declining", "transition_label": "Stage 4 decline intact", "confidence": 96.0, "architecture_regime": "rotation_down", "architecture_regime_label": "Rotation Down", "architecture_modifier": "Supply rotation", "architecture_gate": "mixed", "architecture_direction": -33.793, "architecture_energy": 50.167, "architecture_maturity": 8.476, "architecture_confidence": 79.915, "architecture_tenure": "New", "architecture": { "interpretation": { "headline": "The Activity Line structure is rotating downward.", "body": "Fast Activity is weakening relative to Slow Activity and price acceptance is deteriorating. Persistent negative Trend confirmation would establish Downward Expansion." }, "scores": { "balance": 33.41, "rotation_up": 15.29, "upward_expansion": 24.74, "deceleration": 50.36, "rotation_down": 67.71, "downward_expansion": 54.41 }, "activity_lines": [ 0.682, 0.702764, 0.724019, 0.718499 ], "activity_state": "Moderate", "activity_direction": "Expanding", "rotation_direction": "Weakening", "price_acceptance": -0.833333 }, "latest_close": 0.66, "trend_reference": 0.718133, "distance_from_trend": -0.080951, "trend_direction": "Weakening", "fair_value": 1.125679, "distance_from_fair_value": -0.413687, "fair_value_direction": "Improving", "relative_strength": -26.665958, "relative_strength_direction": "Weakening", "price_momentum": -0.124668, "excess_performance": -0.29556, "evidence": [ { "label": "Price vs Trend", "positive": false, "value": -0.080951, "read": "Below" }, { "label": "Trend direction", "positive": false, "value": -0.040014, "read": "Falling" }, { "label": "Price vs current Fair Value", "positive": false, "value": -0.413687, "read": "Below anchor" }, { "label": "Fair Value direction", "positive": true, "value": 0.013322, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.26666, "read": "Lagging" }, { "label": "Relative strength direction", "positive": false, "value": -0.10833, "read": "Weakening" }, { "label": "Price momentum", "positive": false, "value": -0.124668, "read": "Negative" }, { "label": "Volume balance", "positive": false, "value": 0.629854, "read": "Supply-led" } ], "volume": { "latest": 108500, "relative_activity": 1.267153, "balance": 0.629854, "dry_up": 0.859854, "accumulation_observations": 1, "distribution_observations": 1 }, "risk": { "range_context": 0.07296, "annualized_volatility": 0.418582, "from_high_reference": -0.290323, "from_low_reference": 0.191336 }, "levels": { "trend_reference": 0.718133, "fair_value_reference": 1.125679, "structural_low": 0.554, "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": 3, "median_return": 0.099291, "positive_rate": 1.0, "directional_follow_through": 0.0, "median_excess_return": 0.022725, "regime_survival": 0.333333, "best_return": 0.111406, "worst_return": 0.048387, "sufficient": false }, { "horizon": "Intermediate", "sample_count": 2, "median_return": -0.017716, "positive_rate": 0.0, "directional_follow_through": 1.0, "median_excess_return": -0.106276, "regime_survival": 0.0, "best_return": -0.01061, "worst_return": -0.024823, "sufficient": false }, { "horizon": "Extended", "sample_count": 2, "median_return": -0.115276, "positive_rate": 0.5, "directional_follow_through": 0.5, "median_excess_return": -0.226989, "regime_survival": 0.0, "best_return": 0.153846, "worst_return": -0.384397, "sufficient": false }, { "horizon": "Full cycle", "sample_count": 2, "median_return": -0.268858, "positive_rate": 0.0, "directional_follow_through": 1.0, "median_excess_return": -0.477794, "regime_survival": 0.0, "best_return": -0.018568, "worst_return": -0.519149, "sufficient": false } ], "ledger": [ { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-01-10", "end": "2025-01-17", "tenure": "New", "return": -0.010945, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2025-01-24", "end": "2025-01-31", "tenure": "New", "return": -0.075203, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-02-07", "end": "2025-04-04", "tenure": "Developing", "return": -0.248337, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2025-04-11", "end": "2025-05-02", "tenure": "New", "return": 0.127321, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2025-05-09", "end": "2025-06-06", "tenure": "Developing", "return": -0.069212, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-06-13", "end": "2025-08-08", "tenure": "Developing", "return": 0.007653, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-08-15", "end": "2025-08-22", "tenure": "New", "return": 0.080488, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2025-08-29", "end": "2025-10-03", "tenure": "Developing", "return": -0.087719, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-10-10", "end": "2026-01-23", "tenure": "Established", "return": -0.142529, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2026-01-30", "end": "2026-05-22", "tenure": "Established", "return": -0.049223, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-05-29", "end": "2026-06-05", "tenure": "New", "return": 0.028278, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2026-06-12", "end": "2026-06-26", "tenure": "New", "return": -0.086735, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-07-03", "end": "2026-07-31", "tenure": "Developing", "return": -0.08011, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2026-08-07", "end": "2026-08-07", "tenure": "New", "return": 0.0, "active": true } ], "chart_path": [ { "date": "2023-08-18", "close": 2.49, "volume": 34500, "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": "2023-08-25", "close": 2.27, "volume": 102000, "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": "2023-09-01", "close": 2.42, "volume": 48500, "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": "2023-09-08", "close": 2.3, "volume": 21500, "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": "2023-09-15", "close": 2.07, "volume": 79000, "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": "2023-09-22", "close": 2.08, "volume": 89500, "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": "2023-09-29", "close": 1.67, "volume": 137500, "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": "2023-10-06", "close": 1.63, "volume": 53000, "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": "2023-10-13", "close": 1.56, "volume": 222000, "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": "2023-10-20", "close": 1.185, "volume": 122500, "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": "2023-10-27", "close": 1.14, "volume": 136000, "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": "2023-11-03", "close": 1.18, "volume": 173000, "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": "2023-11-10", "close": 1.125, "volume": 55500, "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": "2023-11-17", "close": 1.365, "volume": 880000, "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": "2023-11-24", "close": 1.535, "volume": 1187000, "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": "2023-12-01", "close": 2.12, "volume": 1872500, "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": "2023-12-08", "close": 2.42, "volume": 1646500, "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": "2023-12-15", "close": 2.08, "volume": 1142500, "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": "2023-12-22", "close": 1.92, "volume": 1057000, "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": "2023-12-29", "close": 1.905, "volume": 722000, "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": "2024-01-05", "close": 2.3, "volume": 1649500, "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": "2024-01-12", "close": 2.31, "volume": 1107500, "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": "2024-01-19", "close": 1.965, "volume": 616000, "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": "2024-01-26", "close": 2.19, "volume": 872500, "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": "2024-02-02", "close": 2.09, "volume": 275500, "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": "2024-02-09", "close": 2.13, "volume": 121500, "typical_volume": 702475.0, "trend": 1.967, "fair_value": 2.600187, "relative_strength": -24.404099, "stage": 1, "regime": "balance", "modifier": "Neutral compression", "gate": "mixed", "direction": 15.08894, "energy": 12.931261, "activity_lines": [ 2.121333, 2.121909, 1.955929, 1.922914 ] }, { "date": "2024-02-16", "close": 2.12, "volume": 272500, "typical_volume": 709225.0, "trend": 1.959, "fair_value": 2.594259, "relative_strength": -25.006539, "stage": 1, "regime": "balance", "modifier": "Neutral compression", "gate": "mixed", "direction": 14.384744, "energy": 13.7028, "activity_lines": [ 2.115667, 2.119909, 1.987262, 1.932785 ] }, { "date": "2024-02-23", "close": 2.01, "volume": 179500, "typical_volume": 715550.0, "trend": 1.954333, "fair_value": 2.587134, "relative_strength": -29.796534, "stage": 1, "regime": "balance", "modifier": "Neutral compression", "gate": "mixed", "direction": 10.764037, "energy": 9.442556, "activity_lines": [ 2.086, 2.103364, 2.005976, 1.936075 ] }, { "date": "2024-03-01", "close": 2.01, "volume": 583000, "typical_volume": 733600.0, "trend": 1.938333, "fair_value": 2.580181, "relative_strength": -29.100101, "stage": 4, "regime": "balance", "modifier": "Neutral compression", "gate": "up", "direction": 36.192719, "energy": 17.219797, "activity_lines": [ 2.053333, 2.088091, 2.022881, 1.939667 ] }, { "date": "2024-03-08", "close": 1.85, "volume": 349500, "typical_volume": 744950.0, "trend": 1.914667, "fair_value": 2.571488, "relative_strength": -34.498623, "stage": 4, "regime": "balance", "modifier": "Neutral compression", "gate": "up", "direction": 21.415172, "energy": 14.788757, "activity_lines": [ 1.979333, 2.042091, 2.022405, 1.933968 ] }, { "date": "2024-03-15", "close": 1.875, "volume": 132000, "typical_volume": 744750.0, "trend": 1.894167, "fair_value": 2.563294, "relative_strength": -33.546433, "stage": 4, "regime": "balance", "modifier": "Neutral compression", "gate": "up", "direction": 8.248689, "energy": 13.973069, "activity_lines": [ 1.929667, 2.001636, 2.021143, 1.931409 ] }, { "date": "2024-03-22", "close": 1.825, "volume": 95500, "typical_volume": 740875.0, "trend": 1.879333, "fair_value": 2.554709, "relative_strength": -34.967248, "stage": 4, "regime": "balance", "modifier": "Neutral compression", "gate": "up", "direction": 0.59692, "energy": 19.530296, "activity_lines": [ 1.880333, 1.959818, 2.011619, 1.926946 ] }, { "date": "2024-03-29", "close": 1.525, "volume": 1029000, "typical_volume": 789550.0, "trend": 1.8495, "fair_value": 2.542874, "relative_strength": -45.246846, "stage": 4, "regime": "balance", "modifier": "Neutral compression", "gate": "mixed", "direction": -39.661571, "energy": 51.259041, "activity_lines": [ 1.750667, 1.872273, 1.970452, 1.904086 ] }, { "date": "2024-04-05", "close": 1.41, "volume": 416000, "typical_volume": 766350.0, "trend": 1.819833, "fair_value": 2.53, "relative_strength": -47.23761, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -46.891178, "energy": 67.801783, "activity_lines": [ 1.615, 1.771818, 1.916429, 1.875731 ] }, { "date": "2024-04-12", "close": 1.25, "volume": 436000, "typical_volume": 728800.0, "trend": 1.7925, "fair_value": 2.515618, "relative_strength": -51.882035, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -51.540107, "energy": 75.616062, "activity_lines": [ 1.466, 1.656455, 1.846952, 1.838968 ] }, { "date": "2024-04-19", "close": 1.425, "volume": 553500, "typical_volume": 662850.0, "trend": 1.770667, "fair_value": 2.5035, "relative_strength": -44.397005, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -40.148947, "energy": 73.750462, "activity_lines": [ 1.415333, 1.588182, 1.7955, 1.815258 ] }, { "date": "2024-04-26", "close": 1.565, "volume": 491500, "typical_volume": 605100.0, "trend": 1.767167, "fair_value": 2.493187, "relative_strength": -38.382128, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -38.254047, "energy": 70.616232, "activity_lines": [ 1.441333, 1.558182, 1.76069, 1.801989 ] }, { "date": "2024-05-03", "close": 1.55, "volume": 118000, "typical_volume": 553875.0, "trend": 1.7645, "fair_value": 2.482935, "relative_strength": -36.699671, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -35.223774, "energy": 54.413636, "activity_lines": [ 1.479667, 1.535545, 1.728524, 1.787978 ] }, { "date": "2024-05-10", "close": 1.505, "volume": 170500, "typical_volume": 509550.0, "trend": 1.762667, "fair_value": 2.472419, "relative_strength": -39.124466, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -30.114002, "energy": 34.868261, "activity_lines": [ 1.501333, 1.513091, 1.694595, 1.771237 ] }, { "date": "2024-05-17", "close": 1.615, "volume": 674000, "typical_volume": 507150.0, "trend": 1.777, "fair_value": 2.463298, "relative_strength": -34.59349, "stage": 4, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -41.841674, "energy": 29.41478, "activity_lines": [ 1.553333, 1.519818, 1.673119, 1.76171 ] }, { "date": "2024-05-24", "close": 1.62, "volume": 115500, "typical_volume": 430450.0, "trend": 1.793, "fair_value": 2.454421, "relative_strength": -30.95693, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -38.406297, "energy": 25.330347, "activity_lines": [ 1.582667, 1.531727, 1.6535, 1.751581 ] }, { "date": "2024-05-31", "close": 1.625, "volume": 159500, "typical_volume": 383050.0, "trend": 1.807833, "fair_value": 2.445781, "relative_strength": -29.022585, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -36.495887, "energy": 22.256987, "activity_lines": [ 1.600667, 1.549182, 1.637595, 1.740742 ] }, { "date": "2024-06-07", "close": 1.63, "volume": 76000, "typical_volume": 356050.0, "trend": 1.824667, "fair_value": 2.437371, "relative_strength": -27.412946, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -33.60945, "energy": 22.851907, "activity_lines": [ 1.616333, 1.571182, 1.625429, 1.729269 ] }, { "date": "2024-06-14", "close": 1.38, "volume": 275000, "typical_volume": 326175.0, "trend": 1.825167, "fair_value": 2.426582, "relative_strength": -33.159942, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -67.11556, "energy": 36.349609, "activity_lines": [ 1.543333, 1.545818, 1.591048, 1.700581 ] }, { "date": "2024-06-21", "close": 1.47, "volume": 121500, "typical_volume": 318475.0, "trend": 1.823, "fair_value": 2.416919, "relative_strength": -28.873732, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -56.422376, "energy": 36.680202, "activity_lines": [ 1.508667, 1.537364, 1.569095, 1.677667 ] }, { "date": "2024-06-28", "close": 1.4, "volume": 103500, "typical_volume": 317575.0, "trend": 1.799, "fair_value": 2.40675, "relative_strength": -30.604746, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -66.322832, "energy": 55.102972, "activity_lines": [ 1.460333, 1.512182, 1.543429, 1.650376 ] }, { "date": "2024-07-05", "close": 1.375, "volume": 97000, "typical_volume": 308800.0, "trend": 1.764167, "fair_value": 2.396535, "relative_strength": -32.419781, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -68.059868, "energy": 68.797662, "activity_lines": [ 1.418333, 1.482909, 1.518857, 1.623022 ] }, { "date": "2024-07-12", "close": 1.37, "volume": 69500, "typical_volume": 303300.0, "trend": 1.7405, "fair_value": 2.386471, "relative_strength": -32.845925, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -66.716358, "energy": 72.351232, "activity_lines": [ 1.391333, 1.456182, 1.497357, 1.597591 ] }, { "date": "2024-07-19", "close": 1.385, "volume": 53500, "typical_volume": 276825.0, "trend": 1.722667, "fair_value": 2.376748, "relative_strength": -30.44988, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -65.25785, "energy": 72.57022, "activity_lines": [ 1.386667, 1.435455, 1.480333, 1.574656 ] }, { "date": "2024-07-26", "close": 1.34, "volume": 84500, "typical_volume": 263575.0, "trend": 1.703833, "fair_value": 2.366779, "relative_strength": -31.149166, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -70.680234, "energy": 70.721679, "activity_lines": [ 1.366667, 1.408727, 1.462, 1.549968 ] }, { "date": "2024-08-02", "close": 1.24, "volume": 130000, "typical_volume": 263475.0, "trend": 1.6685, "fair_value": 2.356048, "relative_strength": -31.614176, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -80.538615, "energy": 72.698464, "activity_lines": [ 1.322, 1.368818, 1.436571, 1.520043 ] }, { "date": "2024-08-09", "close": 1.225, "volume": 152000, "typical_volume": 266300.0, "trend": 1.632333, "fair_value": 2.345377, "relative_strength": -30.714264, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -76.165526, "energy": 65.922406, "activity_lines": [ 1.283, 1.333091, 1.412738, 1.49143 ] }, { "date": "2024-08-16", "close": 1.245, "volume": 35000, "typical_volume": 216600.0, "trend": 1.608333, "fair_value": 2.335093, "relative_strength": -31.026135, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -70.282871, "energy": 72.32858, "activity_lines": [ 1.260667, 1.308273, 1.393667, 1.466441 ] }, { "date": "2024-08-23", "close": 1.2, "volume": 111000, "typical_volume": 201350.0, "trend": 1.575333, "fair_value": 2.324583, "relative_strength": -33.676096, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -73.341125, "energy": 69.880906, "activity_lines": [ 1.231667, 1.282273, 1.371643, 1.440097 ] }, { "date": "2024-08-30", "close": 1.23, "volume": 44000, "typical_volume": 181750.0, "trend": 1.546667, "fair_value": 2.314541, "relative_strength": -32.268571, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -64.738031, "energy": 58.078299, "activity_lines": [ 1.225, 1.265, 1.353476, 1.417817 ] }, { "date": "2024-09-06", "close": 1.14, "volume": 172000, "typical_volume": 162675.0, "trend": 1.513667, "fair_value": 2.303864, "relative_strength": -34.050675, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -75.389526, "energy": 61.492948, "activity_lines": [ 1.195667, 1.235727, 1.326833, 1.391581 ] }, { "date": "2024-09-13", "close": 1.115, "volume": 70500, "typical_volume": 141625.0, "trend": 1.480167, "fair_value": 2.293153, "relative_strength": -35.105738, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -77.334184, "energy": 73.319253, "activity_lines": [ 1.164667, 1.206636, 1.299167, 1.36586 ] }, { "date": "2024-09-20", "close": 1.13, "volume": 186500, "typical_volume": 145050.0, "trend": 1.450833, "fair_value": 2.282768, "relative_strength": -33.63018, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -69.476873, "energy": 68.928236, "activity_lines": [ 1.146, 1.185, 1.275071, 1.343269 ] }, { "date": "2024-09-27", "close": 0.95, "volume": 463000, "typical_volume": 159675.0, "trend": 1.4155, "fair_value": 2.270973, "relative_strength": -45.087525, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -88.360925, "energy": 86.832974, "activity_lines": [ 1.075, 1.135, 1.235833, 1.310957 ] }, { "date": "2024-10-04", "close": 0.868, "volume": 368500, "typical_volume": 144400.0, "trend": 1.382767, "fair_value": 2.258667, "relative_strength": -47.47067, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -89.089384, "energy": 93.434655, "activity_lines": [ 0.993333, 1.078, 1.191429, 1.275634 ] }, { "date": "2024-10-11", "close": 0.756, "volume": 386000, "typical_volume": 157925.0, "trend": 1.345467, "fair_value": 2.2456, "relative_strength": -54.611458, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -91.946532, "energy": 95.250511, "activity_lines": [ 0.898467, 1.009218, 1.139914, 1.235198 ] }, { "date": "2024-10-18", "close": 0.794, "volume": 398500, "typical_volume": 169875.0, "trend": 1.3111, "fair_value": 2.233086, "relative_strength": -53.158075, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -78.894815, "energy": 91.497293, "activity_lines": [ 0.841867, 0.956145, 1.096133, 1.199619 ] }, { "date": "2024-10-25", "close": 0.746, "volume": 165500, "typical_volume": 174350.0, "trend": 1.285133, "fair_value": 2.220376, "relative_strength": -55.083533, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -78.694768, "energy": 91.592851, "activity_lines": [ 0.790667, 0.902182, 1.051738, 1.163161 ] }, { "date": "2024-11-01", "close": 0.708, "volume": 247500, "typical_volume": 172975.0, "trend": 1.261733, "fair_value": 2.207559, "relative_strength": -56.888653, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -79.123691, "energy": 91.211854, "activity_lines": [ 0.7524, 0.850382, 1.007933, 1.125927 ] }, { "date": "2024-11-08", "close": 0.68, "volume": 350000, "typical_volume": 184400.0, "trend": 1.242733, "fair_value": 2.194723, "relative_strength": -57.205425, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -79.115319, "energy": 90.593842, "activity_lines": [ 0.720933, 0.802436, 0.964662, 1.088396 ] }, { "date": "2024-11-15", "close": 0.854, "volume": 396500, "typical_volume": 199050.0, "trend": 1.2237, "fair_value": 2.18355, "relative_strength": -46.377088, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -67.286706, "energy": 65.981952, "activity_lines": [ 0.76, 0.796127, 0.941724, 1.063316 ] }, { "date": "2024-11-22", "close": 0.78, "volume": 232500, "typical_volume": 205825.0, "trend": 1.197533, "fair_value": 2.17195, "relative_strength": -49.401363, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -64.721706, "energy": 62.773553, "activity_lines": [ 0.767867, 0.781564, 0.914338, 1.03469 ] }, { "date": "2024-11-29", "close": 0.858, "volume": 202000, "typical_volume": 212450.0, "trend": 1.174467, "fair_value": 2.16118, "relative_strength": -43.13521, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -50.922601, "energy": 49.038877, "activity_lines": [ 0.802667, 0.787273, 0.897214, 1.012785 ] }, { "date": "2024-12-06", "close": 0.85, "volume": 84000, "typical_volume": 213975.0, "trend": 1.152633, "fair_value": 2.15052, "relative_strength": -44.527079, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -44.790774, "energy": 36.574278, "activity_lines": [ 0.827333, 0.796473, 0.881767, 0.991852 ] }, { "date": "2024-12-13", "close": 0.82, "volume": 122000, "typical_volume": 215850.0, "trend": 1.126133, "fair_value": 2.13979, "relative_strength": -45.631693, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -42.773094, "energy": 34.325313, "activity_lines": [ 0.832533, 0.802036, 0.86601, 0.970391 ] }, { "date": "2024-12-20", "close": 0.864, "volume": 359500, "typical_volume": 227325.0, "trend": 1.100933, "fair_value": 2.129584, "relative_strength": -39.800401, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -38.134476, "energy": 26.766166, "activity_lines": [ 0.843067, 0.816473, 0.856919, 0.95348 ] }, { "date": "2024-12-27", "close": 0.92, "volume": 130000, "typical_volume": 226225.0, "trend": 1.077433, "fair_value": 2.119984, "relative_strength": -35.595664, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -34.126284, "energy": 22.150847, "activity_lines": [ 0.8716, 0.839127, 0.854952, 0.941806 ] }, { "date": "2025-01-03", "close": 1.01, "volume": 403500, "typical_volume": 244650.0, "trend": 1.056767, "fair_value": 2.111244, "relative_strength": -27.698619, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": 3.205914, "energy": 15.785084, "activity_lines": [ 0.9208, 0.875855, 0.86301, 0.937456 ] }, { "date": "2025-01-10", "close": 1.005, "volume": 147000, "typical_volume": 246450.0, "trend": 1.044267, "fair_value": 2.102602, "relative_strength": -28.443114, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": 9.466345, "energy": 26.665911, "activity_lines": [ 0.9582, 0.906873, 0.87171, 0.934116 ] }, { "date": "2025-01-17", "close": 0.994, "volume": 408500, "typical_volume": 264675.0, "trend": 1.0284, "fair_value": 2.094008, "relative_strength": -30.269421, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": 5.804705, "energy": 28.547856, "activity_lines": [ 0.9816, 0.930491, 0.88029, 0.930873 ] }, { "date": "2025-01-24", "close": 0.984, "volume": 85000, "typical_volume": 260325.0, "trend": 1.014533, "fair_value": 2.085469, "relative_strength": -29.289497, "stage": 4, "regime": "rotation_up", "modifier": "Structural repair", "gate": "down", "direction": 3.668077, "energy": 28.23855, "activity_lines": [ 0.990067, 0.946582, 0.889043, 0.928009 ] }, { "date": "2025-01-31", "close": 0.91, "volume": 64000, "typical_volume": 260000.0, "trend": 0.999033, "fair_value": 2.076496, "relative_strength": -33.663122, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "down", "direction": -1.23267, "energy": 16.774619, "activity_lines": [ 0.965867, 0.946855, 0.89149, 0.921265 ] }, { "date": "2025-02-07", "close": 0.902, "volume": 74500, "typical_volume": 254400.0, "trend": 0.983433, "fair_value": 2.067598, "relative_strength": -33.792294, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -15.599709, "energy": 11.804618, "activity_lines": [ 0.939667, 0.943309, 0.894152, 0.915004 ] }, { "date": "2025-02-14", "close": 1.02, "volume": 320500, "typical_volume": 247275.0, "trend": 0.971267, "fair_value": 2.059722, "relative_strength": -25.389412, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": 0.918349, "energy": 7.352817, "activity_lines": [ 0.96, 0.960418, 0.909138, 0.917363 ] }, { "date": "2025-02-21", "close": 1.0, "volume": 119500, "typical_volume": 234825.0, "trend": 0.959933, "fair_value": 2.051813, "relative_strength": -26.30046, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 30.714169, "energy": 18.839025, "activity_lines": [ 0.972667, 0.9708, 0.921886, 0.919217 ] }, { "date": "2025-02-28", "close": 0.996, "volume": 155500, "typical_volume": 223300.0, "trend": 0.9518, "fair_value": 2.043993, "relative_strength": -25.611121, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 29.26999, "energy": 24.152262, "activity_lines": [ 0.9836, 0.977182, 0.933624, 0.921544 ] }, { "date": "2025-03-07", "close": 0.93, "volume": 144000, "typical_volume": 210575.0, "trend": 0.941967, "fair_value": 2.035801, "relative_strength": -29.199144, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 24.652814, "energy": 24.548574, "activity_lines": [ 0.971733, 0.969164, 0.937933, 0.920138 ] }, { "date": "2025-03-14", "close": 0.93, "volume": 64500, "typical_volume": 205525.0, "trend": 0.931467, "fair_value": 2.02773, "relative_strength": -28.044829, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 10.87838, "energy": 10.656642, "activity_lines": [ 0.958533, 0.960964, 0.941595, 0.919366 ] }, { "date": "2025-03-21", "close": 0.932, "volume": 65500, "typical_volume": 196425.0, "trend": 0.922533, "fair_value": 2.01979, "relative_strength": -27.371494, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 6.555698, "energy": 7.612493, "activity_lines": [ 0.944133, 0.954582, 0.944571, 0.9194 ] }, { "date": "2025-03-28", "close": 0.772, "volume": 484000, "typical_volume": 203125.0, "trend": 0.907267, "fair_value": 2.010813, "relative_strength": -38.517022, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -29.449052, "energy": 26.799944, "activity_lines": [ 0.882267, 0.920436, 0.931243, 0.909688 ] }, { "date": "2025-04-04", "close": 0.678, "volume": 299500, "typical_volume": 198275.0, "trend": 0.891867, "fair_value": 2.001293, "relative_strength": -38.835103, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -42.961604, "energy": 58.431282, "activity_lines": [ 0.804267, 0.873236, 0.908524, 0.894897 ] }, { "date": "2025-04-11", "close": 0.754, "volume": 155000, "typical_volume": 194400.0, "trend": 0.879833, "fair_value": 1.992447, "relative_strength": -30.113079, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -28.82872, "energy": 58.890778, "activity_lines": [ 0.7728, 0.845418, 0.893881, 0.886002 ] }, { "date": "2025-04-18", "close": 0.758, "volume": 32000, "typical_volume": 185900.0, "trend": 0.867433, "fair_value": 1.983754, "relative_strength": -32.699154, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -26.364701, "energy": 62.051085, "activity_lines": [ 0.7544, 0.821164, 0.879743, 0.878142 ] }, { "date": "2025-04-25", "close": 0.724, "volume": 107000, "typical_volume": 187050.0, "trend": 0.8599, "fair_value": 1.974944, "relative_strength": -37.055153, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -39.555135, "energy": 65.766851, "activity_lines": [ 0.736133, 0.793345, 0.862843, 0.868888 ] }, { "date": "2025-05-02", "close": 0.85, "volume": 186000, "typical_volume": 190250.0, "trend": 0.8593, "fair_value": 1.967132, "relative_strength": -26.89857, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -31.394321, "energy": 32.268905, "activity_lines": [ 0.773733, 0.793818, 0.858543, 0.868249 ] }, { "date": "2025-05-09", "close": 0.838, "volume": 138000, "typical_volume": 179175.0, "trend": 0.862033, "fair_value": 1.959345, "relative_strength": -28.83932, "stage": 4, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -16.059677, "energy": 17.888743, "activity_lines": [ 0.802133, 0.794836, 0.852957, 0.866875 ] }, { "date": "2025-05-16", "close": 0.798, "volume": 126500, "typical_volume": 179000.0, "trend": 0.862167, "fair_value": 1.95139, "relative_strength": -33.264146, "stage": 4, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -12.67956, "energy": 13.500765, "activity_lines": [ 0.806533, 0.791455, 0.843686, 0.862744 ] }, { "date": "2025-05-23", "close": 0.804, "volume": 31500, "typical_volume": 160400.0, "trend": 0.8641, "fair_value": 1.943585, "relative_strength": -29.524984, "stage": 4, "regime": "deceleration", "modifier": "Recompressing", "gate": "down", "direction": -35.094561, "energy": 21.801532, "activity_lines": [ 0.81, 0.791564, 0.835567, 0.858991 ] }, { "date": "2025-05-30", "close": 0.81, "volume": 89500, "typical_volume": 157525.0, "trend": 0.8675, "fair_value": 1.935926, "relative_strength": -28.808386, "stage": 4, "regime": "deceleration", "modifier": "Recompressing", "gate": "down", "direction": -35.60456, "energy": 18.721112, "activity_lines": [ 0.8124, 0.795055, 0.829, 0.855501 ] }, { "date": "2025-06-06", "close": 0.78, "volume": 156000, "typical_volume": 144900.0, "trend": 0.870833, "fair_value": 1.928168, "relative_strength": -31.014445, "stage": 4, "regime": "deceleration", "modifier": "Recompressing", "gate": "down", "direction": -42.314879, "energy": 25.17702, "activity_lines": [ 0.799067, 0.795309, 0.820505, 0.849856 ] }, { "date": "2025-06-13", "close": 0.784, "volume": 63500, "typical_volume": 143825.0, "trend": 0.8685, "fair_value": 1.92054, "relative_strength": -27.495996, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -50.579082, "energy": 28.756634, "activity_lines": [ 0.791733, 0.796145, 0.81341, 0.844254 ] }, { "date": "2025-06-20", "close": 0.788, "volume": 97500, "typical_volume": 145500.0, "trend": 0.868767, "fair_value": 1.91304, "relative_strength": -25.482899, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -49.575465, "energy": 28.622005, "activity_lines": [ 0.789333, 0.795782, 0.807648, 0.83906 ] }, { "date": "2025-06-27", "close": 0.75, "volume": 145000, "typical_volume": 149025.0, "trend": 0.865167, "fair_value": 1.905388, "relative_strength": -28.801946, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -62.332119, "energy": 44.09756, "activity_lines": [ 0.774933, 0.787891, 0.798848, 0.831398 ] }, { "date": "2025-07-04", "close": 0.738, "volume": 106000, "typical_volume": 138300.0, "trend": 0.861433, "fair_value": 1.897758, "relative_strength": -28.598082, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -66.925988, "energy": 59.661504, "activity_lines": [ 0.760133, 0.777964, 0.789629, 0.823194 ] }, { "date": "2025-07-11", "close": 0.746, "volume": 92500, "typical_volume": 136950.0, "trend": 0.858967, "fair_value": 1.890279, "relative_strength": -27.523065, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -64.387851, "energy": 64.041387, "activity_lines": [ 0.7528, 0.769236, 0.782514, 0.815746 ] }, { "date": "2025-07-18", "close": 0.798, "volume": 148500, "typical_volume": 136600.0, "trend": 0.856767, "fair_value": 1.883232, "relative_strength": -21.708588, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -56.697872, "energy": 48.689531, "activity_lines": [ 0.765067, 0.771855, 0.781562, 0.811813 ] }, { "date": "2025-07-25", "close": 0.794, "volume": 212000, "typical_volume": 140000.0, "trend": 0.852567, "fair_value": 1.87625, "relative_strength": -21.693725, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -41.77144, "energy": 27.082867, "activity_lines": [ 0.775067, 0.774473, 0.781171, 0.807763 ] }, { "date": "2025-08-01", "close": 0.8, "volume": 144000, "typical_volume": 143975.0, "trend": 0.845567, "fair_value": 1.863846, "relative_strength": -18.376488, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -34.636803, "energy": 16.625207, "activity_lines": [ 0.786667, 0.778255, 0.782, 0.804372 ] }, { "date": "2025-08-08", "close": 0.79, "volume": 50500, "typical_volume": 143225.0, "trend": 0.8384, "fair_value": 1.851795, "relative_strength": -21.447521, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -29.192643, "energy": 19.505082, "activity_lines": [ 0.7916, 0.780291, 0.782495, 0.800787 ] }, { "date": "2025-08-15", "close": 0.82, "volume": 143500, "typical_volume": 126200.0, "trend": 0.8326, "fair_value": 1.840609, "relative_strength": -19.247189, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -5.483017, "energy": 11.98285, "activity_lines": [ 0.803067, 0.788145, 0.786524, 0.7996 ] }, { "date": "2025-08-22", "close": 0.886, "volume": 351000, "typical_volume": 128775.0, "trend": 0.829333, "fair_value": 1.830167, "relative_strength": -13.000649, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 34.540244, "energy": 31.778424, "activity_lines": [ 0.8316, 0.807273, 0.79661, 0.803045 ] }, { "date": "2025-08-29", "close": 0.912, "volume": 234000, "typical_volume": 132725.0, "trend": 0.8294, "fair_value": 1.818641, "relative_strength": -7.005658, "stage": 1, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 39.931786, "energy": 54.546221, "activity_lines": [ 0.862933, 0.829273, 0.808181, 0.808378 ] }, { "date": "2025-09-05", "close": 0.84, "volume": 140500, "typical_volume": 138150.0, "trend": 0.827333, "fair_value": 1.807295, "relative_strength": -12.114818, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 30.476936, "energy": 49.931304, "activity_lines": [ 0.8624, 0.835927, 0.812143, 0.809062 ] }, { "date": "2025-09-12", "close": 0.83, "volume": 48000, "typical_volume": 135200.0, "trend": 0.821, "fair_value": 1.79659, "relative_strength": -14.129401, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 29.246535, "energy": 46.804788, "activity_lines": [ 0.855867, 0.839127, 0.814762, 0.809234 ] }, { "date": "2025-09-19", "close": 0.878, "volume": 94000, "typical_volume": 130600.0, "trend": 0.816933, "fair_value": 1.783949, "relative_strength": -7.623055, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 35.904474, "energy": 40.033092, "activity_lines": [ 0.862667, 0.849382, 0.821448, 0.812912 ] }, { "date": "2025-09-26", "close": 0.832, "volume": 122000, "typical_volume": 129800.0, "trend": 0.811467, "fair_value": 1.771333, "relative_strength": -12.561044, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "up", "direction": 49.663815, "energy": 26.056918, "activity_lines": [ 0.850267, 0.848873, 0.823619, 0.813884 ] }, { "date": "2025-10-03", "close": 0.832, "volume": 57000, "typical_volume": 126325.0, "trend": 0.8082, "fair_value": 1.758462, "relative_strength": -13.304594, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "up", "direction": 36.611037, "energy": 18.575296, "activity_lines": [ 0.841467, 0.847745, 0.825819, 0.815209 ] }, { "date": "2025-10-10", "close": 0.87, "volume": 123500, "typical_volume": 130925.0, "trend": 0.8062, "fair_value": 1.746538, "relative_strength": -6.627335, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 44.660603, "energy": 24.252189, "activity_lines": [ 0.850667, 0.852836, 0.831476, 0.819196 ] }, { "date": "2025-10-17", "close": 0.832, "volume": 155000, "typical_volume": 134200.0, "trend": 0.802867, "fair_value": 1.735397, "relative_strength": -9.879865, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 35.116935, "energy": 16.43229, "activity_lines": [ 0.8452, 0.849745, 0.8332, 0.82086 ] }, { "date": "2025-10-24", "close": 0.838, "volume": 34500, "typical_volume": 128125.0, "trend": 0.805067, "fair_value": 1.725128, "relative_strength": -10.653123, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 34.263787, "energy": 16.3919, "activity_lines": [ 0.8416, 0.846982, 0.83539, 0.823127 ] }, { "date": "2025-10-31", "close": 0.832, "volume": 80000, "typical_volume": 128950.0, "trend": 0.8102, "fair_value": 1.713603, "relative_strength": -12.619076, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 31.966265, "energy": 15.329157, "activity_lines": [ 0.838667, 0.8428, 0.836733, 0.824865 ] }, { "date": "2025-11-07", "close": 0.79, "volume": 104000, "typical_volume": 129275.0, "trend": 0.8114, "fair_value": 1.702321, "relative_strength": -16.409304, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 4.291316, "energy": 7.878721, "activity_lines": [ 0.821733, 0.831964, 0.833848, 0.823561 ] }, { "date": "2025-11-14", "close": 0.834, "volume": 111500, "typical_volume": 127600.0, "trend": 0.813933, "fair_value": 1.691256, "relative_strength": -13.45893, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 15.21345, "energy": 10.982952, "activity_lines": [ 0.822267, 0.831345, 0.835143, 0.825019 ] }, { "date": "2025-11-21", "close": 0.834, "volume": 62500, "typical_volume": 125425.0, "trend": 0.8176, "fair_value": 1.680192, "relative_strength": -10.46106, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 14.050701, "energy": 9.987503, "activity_lines": [ 0.8252, 0.830836, 0.836038, 0.826314 ] }, { "date": "2025-11-28", "close": 0.834, "volume": 68000, "typical_volume": 124200.0, "trend": 0.817067, "fair_value": 1.669705, "relative_strength": -11.393617, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 14.52009, "energy": 9.128441, "activity_lines": [ 0.828, 0.830255, 0.836476, 0.827372 ] }, { "date": "2025-12-05", "close": 0.844, "volume": 162500, "typical_volume": 124900.0, "trend": 0.817267, "fair_value": 1.659154, "relative_strength": -10.087609, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 31.028855, "energy": 14.901135, "activity_lines": [ 0.8344, 0.832291, 0.837448, 0.82911 ] }, { "date": "2025-12-12", "close": 0.82, "volume": 76500, "typical_volume": 118125.0, "trend": 0.818, "fair_value": 1.648449, "relative_strength": -12.444029, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 22.275554, "energy": 10.380795, "activity_lines": [ 0.832, 0.829745, 0.835914, 0.829286 ] }, { "date": "2025-12-19", "close": 0.798, "volume": 96500, "typical_volume": 115750.0, "trend": 0.8178, "fair_value": 1.637987, "relative_strength": -16.583045, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 4.671393, "energy": 6.076014, "activity_lines": [ 0.820267, 0.823418, 0.832162, 0.827996 ] }, { "date": "2025-12-26", "close": 0.804, "volume": 16500, "typical_volume": 114050.0, "trend": 0.8176, "fair_value": 1.627692, "relative_strength": -14.990063, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -12.238568, "energy": 16.536153, "activity_lines": [ 0.812933, 0.819491, 0.82899, 0.827105 ] }, { "date": "2026-01-02", "close": 0.798, "volume": 39000, "typical_volume": 108825.0, "trend": 0.8182, "fair_value": 1.616462, "relative_strength": -16.137417, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -25.026769, "energy": 29.201507, "activity_lines": [ 0.8056, 0.814982, 0.825181, 0.825841 ] }, { "date": "2026-01-09", "close": 0.784, "volume": 85500, "typical_volume": 95550.0, "trend": 0.8182, "fair_value": 1.603923, "relative_strength": -17.359514, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -30.747958, "energy": 39.644116, "activity_lines": [ 0.796, 0.808655, 0.820143, 0.823634 ] }, { "date": "2026-01-16", "close": 0.776, "volume": 120500, "typical_volume": 89875.0, "trend": 0.8178, "fair_value": 1.591141, "relative_strength": -17.547864, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -35.260574, "energy": 44.244348, "activity_lines": [ 0.787733, 0.801745, 0.814829, 0.820912 ] }, { "date": "2026-01-23", "close": 0.746, "volume": 191000, "typical_volume": 92400.0, "trend": 0.817667, "fair_value": 1.57541, "relative_strength": -18.217174, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -71.155102, "energy": 62.550678, "activity_lines": [ 0.7724, 0.789636, 0.807305, 0.81628 ] }, { "date": "2026-01-30", "close": 0.772, "volume": 103500, "typical_volume": 95175.0, "trend": 0.8188, "fair_value": 1.556962, "relative_strength": -16.02435, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -57.514489, "energy": 54.385974, "activity_lines": [ 0.7692, 0.783855, 0.802705, 0.813333 ] }, { "date": "2026-02-06", "close": 0.754, "volume": 46500, "typical_volume": 92800.0, "trend": 0.819067, "fair_value": 1.537692, "relative_strength": -17.990551, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -62.913144, "energy": 58.212445, "activity_lines": [ 0.762133, 0.775927, 0.796667, 0.809153 ] }, { "date": "2026-02-13", "close": 0.724, "volume": 76000, "typical_volume": 90500.0, "trend": 0.8166, "fair_value": 1.517974, "relative_strength": -19.638272, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -72.628597, "energy": 66.712433, "activity_lines": [ 0.748, 0.764, 0.788362, 0.803019 ] }, { "date": "2026-02-20", "close": 0.69, "volume": 105000, "typical_volume": 92900.0, "trend": 0.813133, "fair_value": 1.497974, "relative_strength": -24.308752, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -77.347526, "energy": 69.703409, "activity_lines": [ 0.726533, 0.748073, 0.777333, 0.794852 ] }, { "date": "2026-02-27", "close": 0.71, "volume": 26000, "typical_volume": 88025.0, "trend": 0.810133, "fair_value": 1.477974, "relative_strength": -22.515796, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -66.313597, "energy": 68.809319, "activity_lines": [ 0.717467, 0.738145, 0.768886, 0.788198 ] }, { "date": "2026-03-06", "close": 0.666, "volume": 151000, "typical_volume": 87825.0, "trend": 0.806, "fair_value": 1.458654, "relative_strength": -21.583303, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -77.853104, "energy": 78.959599, "activity_lines": [ 0.696133, 0.721818, 0.75701, 0.778899 ] }, { "date": "2026-03-13", "close": 0.66, "volume": 40500, "typical_volume": 88125.0, "trend": 0.800667, "fair_value": 1.441795, "relative_strength": -21.86306, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -75.94579, "energy": 80.021944, "activity_lines": [ 0.679867, 0.706909, 0.745352, 0.76948 ] }, { "date": "2026-03-20", "close": 0.618, "volume": 167000, "typical_volume": 92475.0, "trend": 0.791733, "fair_value": 1.424667, "relative_strength": -23.586084, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -82.432662, "energy": 83.194681, "activity_lines": [ 0.655867, 0.686873, 0.730543, 0.757695 ] }, { "date": "2026-03-27", "close": 0.57, "volume": 161500, "typical_volume": 95350.0, "trend": 0.780333, "fair_value": 1.40659, "relative_strength": -29.910572, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -87.25755, "energy": 90.305625, "activity_lines": [ 0.622933, 0.661127, 0.712181, 0.743389 ] }, { "date": "2026-04-03", "close": 0.604, "volume": 31000, "typical_volume": 91325.0, "trend": 0.772467, "fair_value": 1.388923, "relative_strength": -28.924472, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -70.331409, "energy": 81.908598, "activity_lines": [ 0.609333, 0.645309, 0.698105, 0.732013 ] }, { "date": "2026-04-10", "close": 0.74, "volume": 414000, "typical_volume": 108900.0, "trend": 0.769467, "fair_value": 1.371872, "relative_strength": -15.975678, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -56.708946, "energy": 45.691935, "activity_lines": [ 0.648133, 0.6568, 0.698076, 0.729918 ] }, { "date": "2026-04-17", "close": 0.722, "volume": 137000, "typical_volume": 112350.0, "trend": 0.764267, "fair_value": 1.356179, "relative_strength": -19.607291, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -43.009807, "energy": 29.28841, "activity_lines": [ 0.676, 0.6656, 0.696781, 0.726856 ] }, { "date": "2026-04-24", "close": 0.778, "volume": 104500, "typical_volume": 109450.0, "trend": 0.762467, "fair_value": 1.340654, "relative_strength": -10.881522, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -11.917303, "energy": 18.468074, "activity_lines": [ 0.7184, 0.685164, 0.701352, 0.727742 ] }, { "date": "2026-05-01", "close": 0.76, "volume": 88500, "typical_volume": 110050.0, "trend": 0.760067, "fair_value": 1.325205, "relative_strength": -13.424113, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -10.728413, "energy": 25.901248, "activity_lines": [ 0.744133, 0.700473, 0.704524, 0.727583 ] }, { "date": "2026-05-08", "close": 0.75, "volume": 60500, "typical_volume": 108250.0, "trend": 0.756067, "fair_value": 1.308923, "relative_strength": -15.832986, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -4.212104, "energy": 22.113892, "activity_lines": [ 0.753867, 0.712691, 0.707029, 0.726933 ] }, { "date": "2026-05-15", "close": 0.75, "volume": 44000, "typical_volume": 109625.0, "trend": 0.753333, "fair_value": 1.291167, "relative_strength": -15.141415, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "mixed", "direction": 15.406673, "energy": 24.229467, "activity_lines": [ 0.753867, 0.724182, 0.709762, 0.726542 ] }, { "date": "2026-05-22", "close": 0.734, "volume": 75000, "typical_volume": 111425.0, "trend": 0.749867, "fair_value": 1.272474, "relative_strength": -17.123409, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -5.975703, "energy": 15.296745, "activity_lines": [ 0.747867, 0.731236, 0.711229, 0.725295 ] }, { "date": "2026-05-29", "close": 0.778, "volume": 160500, "typical_volume": 115175.0, "trend": 0.748067, "fair_value": 1.254385, "relative_strength": -12.641353, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 21.626582, "energy": 19.559486, "activity_lines": [ 0.755733, 0.744945, 0.71719, 0.72711 ] }, { "date": "2026-06-05", "close": 0.8, "volume": 2000, "typical_volume": 109250.0, "trend": 0.7484, "fair_value": 1.236949, "relative_strength": -9.60153, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 27.569494, "energy": 27.512403, "activity_lines": [ 0.770933, 0.759745, 0.725276, 0.73046 ] }, { "date": "2026-06-12", "close": 0.784, "volume": 13000, "typical_volume": 100350.0, "trend": 0.746733, "fair_value": 1.219731, "relative_strength": -13.733523, "stage": 1, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 20.848616, "energy": 30.088602, "activity_lines": [ 0.778133, 0.767455, 0.731724, 0.732757 ] }, { "date": "2026-06-19", "close": 0.76, "volume": 9000, "typical_volume": 95625.0, "trend": 0.744267, "fair_value": 1.206397, "relative_strength": -18.003876, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 27.55304, "energy": 33.677381, "activity_lines": [ 0.775067, 0.767527, 0.735705, 0.733613 ] }, { "date": "2026-06-26", "close": 0.716, "volume": 19500, "typical_volume": 94275.0, "trend": 0.740333, "fair_value": 1.192077, "relative_strength": -19.933524, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 5.356315, "energy": 10.493242, "activity_lines": [ 0.756667, 0.759236, 0.735552, 0.731789 ] }, { "date": "2026-07-03", "close": 0.724, "volume": 25500, "typical_volume": 91750.0, "trend": 0.736333, "fair_value": 1.180372, "relative_strength": -20.992466, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 1.171798, "energy": 6.68298, "activity_lines": [ 0.742133, 0.752509, 0.736343, 0.730735 ] }, { "date": "2026-07-10", "close": 0.7, "volume": 72500, "typical_volume": 90125.0, "trend": 0.732333, "fair_value": 1.169282, "relative_strength": -22.859893, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -17.433542, "energy": 21.173372, "activity_lines": [ 0.7232, 0.7424, 0.734848, 0.728391 ] }, { "date": "2026-07-17", "close": 0.73, "volume": 71500, "typical_volume": 92400.0, "trend": 0.730067, "fair_value": 1.158833, "relative_strength": -17.894746, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -9.45124, "energy": 18.880346, "activity_lines": [ 0.720933, 0.738836, 0.736162, 0.728241 ] }, { "date": "2026-07-24", "close": 0.702, "volume": 56500, "typical_volume": 87675.0, "trend": 0.726667, "fair_value": 1.149551, "relative_strength": -20.390995, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -28.604809, "energy": 25.834771, "activity_lines": [ 0.712933, 0.730545, 0.734714, 0.72643 ] }, { "date": "2026-07-31", "close": 0.666, "volume": 58000, "typical_volume": 88550.0, "trend": 0.722267, "fair_value": 1.137859, "relative_strength": -24.39016, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -34.523704, "energy": 44.24806, "activity_lines": [ 0.6968, 0.716582, 0.729667, 0.722516 ] }, { "date": "2026-08-07", "close": 0.66, "volume": 108500, "typical_volume": 85625.0, "trend": 0.718133, "fair_value": 1.125679, "relative_strength": -26.665958, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -33.792905, "energy": 50.167467, "activity_lines": [ 0.682, 0.702764, 0.724019, 0.718499 ] } ], "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." } } }