{ "ticker": { "uuid": "b877efed-a589-41e1-a529-a3b18d60fc8c", "symbol": "SXLB", "name": "State Street SPDR S&P U.S. Materials Select Sector UCITS ETF", "exchange": "LSE", "country": "GB", "assetType": "etf" }, "methodBoundary": "Trend Architecture is a weekly structural classification, not a forecast, probability of return, recommendation or execution signal. Confidence measures geometric agreement and external confirmation only.", "analysis": { "eligible": true, "as_of": "2026-08-07", "benchmark": "^FTSE", "stage": 3, "stage_name": "Distribution", "phase": "3b", "phase_label": "Stage 3B \u00b7 Distribution", "transition": "stage_3_churning", "transition_label": "Stage 3 range intact", "confidence": 67.238, "architecture_regime": "balance", "architecture_regime_label": "Balance", "architecture_modifier": "Upper balance after advance", "architecture_gate": "up", "architecture_direction": 48.674, "architecture_energy": 19.077, "architecture_maturity": 33.792, "architecture_confidence": 79.96, "architecture_tenure": "Developing", "architecture": { "interpretation": { "headline": "Directional pressure has compressed into balance.", "body": "Trend and Activity are compressed into balance, so neither side has durable control. Prior structure and the next directional change provide context; balance alone is not assumed to be a base." }, "scores": { "balance": 44.04, "rotation_up": 35.17, "upward_expansion": 54.48, "deceleration": 84.82, "rotation_down": 30.4, "downward_expansion": 22.81 }, "activity_lines": [ 51.185, 51.228909, 51.170797, 51.026511 ], "activity_state": "Compressed", "activity_direction": "Contracting", "rotation_direction": "Weakening", "price_acceptance": -0.166667 }, "latest_close": 52.744999, "trend_reference": 50.838834, "distance_from_trend": 0.037494, "trend_direction": "Improving", "fair_value": 44.403566, "distance_from_fair_value": 0.187855, "fair_value_direction": "Improving", "relative_strength": 0.849968, "relative_strength_direction": "Weakening", "price_momentum": 0.035332, "excess_performance": -0.015903, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.037494, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.044303, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.187855, "read": "Premium" }, { "label": "Fair Value direction", "positive": true, "value": 0.004256, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": true, "value": 0.0085, "read": "Leading" }, { "label": "Relative strength direction", "positive": false, "value": -0.033776, "read": "Weakening" }, { "label": "Price momentum", "positive": true, "value": 0.035332, "read": "Positive" }, { "label": "Volume balance", "positive": false, "value": 0.061888, "read": "Supply-led" } ], "volume": { "latest": 8419, "relative_activity": 0.097221, "balance": 0.061888, "dry_up": 0.277578, "accumulation_observations": 0, "distribution_observations": 2 }, "risk": { "range_context": 0.025865, "annualized_volatility": 0.187508, "from_high_reference": -0.017418, "from_low_reference": 0.256282 }, "levels": { "trend_reference": 50.838834, "fair_value_reference": 44.403566, "structural_low": 46.055, "invalidation": "A decisive breakout above range resistance with renewed RS leadership invalidates the distribution reading; a range-low break confirms deterioration." }, "outcomes": [ { "horizon": "Near term", "sample_count": 12, "median_return": 0.019399, "positive_rate": 0.583333, "directional_follow_through": 0.583333, "median_excess_return": -0.001208, "regime_survival": 0.25, "best_return": 0.069976, "worst_return": -0.129191, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 6, "median_return": 0.075152, "positive_rate": 0.833333, "directional_follow_through": 0.833333, "median_excess_return": 0.039348, "regime_survival": 0.0, "best_return": 0.096551, "worst_return": -0.140711, "sufficient": true }, { "horizon": "Extended", "sample_count": 5, "median_return": 0.04975, "positive_rate": 0.6, "directional_follow_through": 0.6, "median_excess_return": -0.004118, "regime_survival": 0.2, "best_return": 0.152488, "worst_return": -0.223436, "sufficient": true }, { "horizon": "Full cycle", "sample_count": 3, "median_return": 0.157357, "positive_rate": 0.666667, "directional_follow_through": 0.666667, "median_excess_return": 0.016818, "regime_survival": 0.333333, "best_return": 0.203415, "worst_return": -0.093054, "sufficient": false } ], "ledger": [ { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2024-09-06", "end": "2024-11-08", "tenure": "Developing", "return": 0.050051, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2024-11-15", "end": "2024-12-20", "tenure": "Developing", "return": -0.0634, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2024-12-27", "end": "2025-01-10", "tenure": "New", "return": -0.022212, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-01-17", "end": "2025-05-23", "tenure": "Established", "return": -0.028673, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-05-30", "end": "2025-06-06", "tenure": "New", "return": 0.021254, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2025-06-13", "end": "2025-07-04", "tenure": "New", "return": 0.030574, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-07-11", "end": "2025-10-03", "tenure": "Established", "return": -0.000332, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2025-10-10", "end": "2025-11-07", "tenure": "Developing", "return": -0.03696, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2025-11-14", "end": "2025-12-05", "tenure": "New", "return": 0.012034, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-12-12", "end": "2025-12-26", "tenure": "New", "return": 0.023845, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-01-02", "end": "2026-03-20", "tenure": "Developing", "return": 0.029307, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2026-03-27", "end": "2026-04-17", "tenure": "New", "return": 0.06537, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-04-24", "end": "2026-05-29", "tenure": "Developing", "return": -0.014845, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-06-05", "end": "2026-08-07", "tenure": "Developing", "return": 0.039618, "active": true } ], "chart_path": [ { "date": "2023-08-18", "close": 38.68375, "volume": 2855, "typical_volume": 63217.55, "trend": 38.449708, "fair_value": 37.070633, "relative_strength": 6.82223, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 57.175008, "energy": 39.233991, "activity_lines": [ 39.656166, 39.642477, 38.966059, 38.64536 ] }, { "date": "2023-08-25", "close": 38.578751, "volume": 9784, "typical_volume": 62973.7, "trend": 38.418208, "fair_value": 37.132949, "relative_strength": 5.314753, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 35.733797, "energy": 19.883413, "activity_lines": [ 39.215167, 39.484068, 38.970059, 38.653685 ] }, { "date": "2023-09-01", "close": 40.084999, "volume": 12304, "typical_volume": 62477.35, "trend": 38.42175, "fair_value": 37.204567, "relative_strength": 7.383341, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 46.731273, "energy": 26.461236, "activity_lines": [ 39.36775, 39.601977, 39.113268, 38.76122 ] }, { "date": "2023-09-08", "close": 39.168751, "volume": 25250, "typical_volume": 62218.2, "trend": 38.436625, "fair_value": 37.265537, "relative_strength": 4.625242, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 32.143421, "energy": 21.837058, "activity_lines": [ 39.2615, 39.516364, 39.161875, 38.809414 ] }, { "date": "2023-09-15", "close": 39.3675, "volume": 33607, "typical_volume": 57134.7, "trend": 38.467708, "fair_value": 37.324239, "relative_strength": 1.817802, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 32.558649, "energy": 16.823233, "activity_lines": [ 39.30725, 39.473091, 39.225345, 38.86947 ] }, { "date": "2023-09-22", "close": 37.82, "volume": 56076, "typical_volume": 56487.15, "trend": 38.467917, "fair_value": 37.385441, "relative_strength": -1.961484, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 5.462668, "energy": 7.054812, "activity_lines": [ 38.855, 39.141227, 39.13619, 38.827683 ] }, { "date": "2023-09-29", "close": 38.037498, "volume": 5701, "typical_volume": 56094.15, "trend": 38.406083, "fair_value": 37.44359, "relative_strength": -0.517768, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -5.41485, "energy": 17.687804, "activity_lines": [ 38.532833, 38.883886, 39.067786, 38.799914 ] }, { "date": "2023-10-06", "close": 37.267502, "volume": 4052, "typical_volume": 55480.95, "trend": 38.387333, "fair_value": 37.488894, "relative_strength": -1.149994, "stage": 3, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -35.815607, "energy": 49.657427, "activity_lines": [ 37.990084, 38.521341, 38.921619, 38.726457 ] }, { "date": "2023-10-13", "close": 37.303749, "volume": 20196, "typical_volume": 54921.95, "trend": 38.4315, "fair_value": 37.533742, "relative_strength": -2.475363, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -34.301694, "energy": 59.5132, "activity_lines": [ 37.64725, 38.229318, 38.779559, 38.656548 ] }, { "date": "2023-10-20", "close": 36.311249, "volume": 14364, "typical_volume": 53041.9, "trend": 38.428708, "fair_value": 37.573478, "relative_strength": -2.568796, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -45.366107, "energy": 68.599928, "activity_lines": [ 37.097916, 37.814136, 38.537536, 38.519758 ] }, { "date": "2023-10-27", "close": 36.25, "volume": 26463, "typical_volume": 46061.75, "trend": 38.364167, "fair_value": 37.620994, "relative_strength": -1.259339, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -51.792107, "energy": 74.512898, "activity_lines": [ 36.731916, 37.44825, 38.294714, 38.379196 ] }, { "date": "2023-11-03", "close": 37.837502, "volume": 4903, "typical_volume": 45917.2, "trend": 38.369167, "fair_value": 37.664255, "relative_strength": 1.191014, "stage": 4, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -63.849073, "energy": 65.757062, "activity_lines": [ 36.99975, 37.41525, 38.209286, 38.345218 ] }, { "date": "2023-11-10", "close": 36.86375, "volume": 8823, "typical_volume": 43750.65, "trend": 38.313167, "fair_value": 37.69968, "relative_strength": -0.561679, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -65.243464, "energy": 54.732609, "activity_lines": [ 36.956334, 37.218682, 38.035292, 38.248094 ] }, { "date": "2023-11-17", "close": 38.474998, "volume": 9140, "typical_volume": 43923.4, "trend": 38.3185, "fair_value": 37.742853, "relative_strength": 1.787176, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -38.70456, "energy": 26.657564, "activity_lines": [ 37.476916, 37.373636, 38.020417, 38.258535 ] }, { "date": "2023-11-24", "close": 38.970001, "volume": 103, "typical_volume": 26553.7, "trend": 38.341958, "fair_value": 37.783598, "relative_strength": 3.310168, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -15.684122, "energy": 19.123479, "activity_lines": [ 38.084417, 37.631205, 38.057613, 38.300567 ] }, { "date": "2023-12-01", "close": 39.959999, "volume": 4566, "typical_volume": 15559.5, "trend": 38.413042, "fair_value": 37.830545, "relative_strength": 5.307609, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "mixed", "direction": 23.525961, "energy": 30.36843, "activity_lines": [ 38.844666, 38.076, 38.189095, 38.404957 ] }, { "date": "2023-12-08", "close": 39.322498, "volume": 1172, "typical_volume": 14398.5, "trend": 38.486875, "fair_value": 37.875721, "relative_strength": 3.271249, "stage": 3, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 24.224418, "energy": 36.183225, "activity_lines": [ 39.145082, 38.365977, 38.258833, 38.463631 ] }, { "date": "2023-12-15", "close": 41.075001, "volume": 283, "typical_volume": 13444.25, "trend": 38.609208, "fair_value": 37.929696, "relative_strength": 7.41612, "stage": 3, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 55.563502, "energy": 66.948947, "activity_lines": [ 39.930666, 38.951227, 38.49847, 38.630607 ] }, { "date": "2023-12-22", "close": 41.153751, "volume": 15950, "typical_volume": 12953.45, "trend": 38.775625, "fair_value": 37.983894, "relative_strength": 5.775286, "stage": 2, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 55.039464, "energy": 75.844609, "activity_lines": [ 40.46175, 39.481568, 38.74422, 38.794771 ] }, { "date": "2023-12-29", "close": 41.5, "volume": 40, "typical_volume": 12781.6, "trend": 38.913333, "fair_value": 38.038398, "relative_strength": 6.007225, "stage": 2, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "up", "direction": 80.293403, "energy": 86.604999, "activity_lines": [ 40.929667, 40.004864, 39.019619, 38.970538 ] }, { "date": "2024-01-05", "close": 40.737499, "volume": 14375, "typical_volume": 13357.6, "trend": 39.0195, "fair_value": 38.07476, "relative_strength": 4.502834, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 66.787922, "energy": 80.741804, "activity_lines": [ 40.97475, 40.295182, 39.213518, 39.088226 ] }, { "date": "2024-01-12", "close": 40.2425, "volume": 2344, "typical_volume": 12985.6, "trend": 39.070458, "fair_value": 38.111763, "relative_strength": 4.010629, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 63.96716, "energy": 68.067246, "activity_lines": [ 40.803, 40.413909, 39.350494, 39.167129 ] }, { "date": "2024-01-19", "close": 39.4725, "volume": 21086, "typical_volume": 13424.7, "trend": 39.11775, "fair_value": 38.14617, "relative_strength": 4.142875, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 49.109901, "energy": 39.729782, "activity_lines": [ 40.31325, 40.348909, 39.406214, 39.193067 ] }, { "date": "2024-01-26", "close": 39.965, "volume": 14573, "typical_volume": 12890.85, "trend": 39.132917, "fair_value": 38.193694, "relative_strength": 2.993986, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 41.494657, "energy": 25.666351, "activity_lines": [ 40.0945, 40.326023, 39.511756, 39.247728 ] }, { "date": "2024-02-02", "close": 40.033749, "volume": 6241, "typical_volume": 11522.55, "trend": 39.168375, "fair_value": 38.234247, "relative_strength": 3.359477, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 36.978102, "energy": 25.016678, "activity_lines": [ 39.977916, 40.288545, 39.620053, 39.305847 ] }, { "date": "2024-02-09", "close": 39.923752, "volume": 30274, "typical_volume": 10232.45, "trend": 39.174375, "fair_value": 38.272532, "relative_strength": 3.518644, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 33.589593, "energy": 23.70013, "activity_lines": [ 39.922417, 40.211727, 39.714702, 39.354581 ] }, { "date": "2024-02-16", "close": 41.3475, "volume": 11122, "typical_volume": 10503.5, "trend": 39.220917, "fair_value": 38.317773, "relative_strength": 5.05437, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 71.11892, "energy": 40.62929, "activity_lines": [ 40.39575, 40.394432, 39.934929, 39.494782 ] }, { "date": "2024-02-23", "close": 41.81625, "volume": 8675, "typical_volume": 10734.65, "trend": 39.255333, "fair_value": 38.368654, "relative_strength": 6.069315, "stage": 2, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "up", "direction": 75.5936, "energy": 63.223033, "activity_lines": [ 40.951667, 40.625546, 40.184036, 39.662223 ] }, { "date": "2024-03-01", "close": 42.516251, "volume": 2149, "typical_volume": 9832.3, "trend": 39.324042, "fair_value": 38.427244, "relative_strength": 7.970217, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 82.643842, "energy": 84.52856, "activity_lines": [ 41.584667, 40.970455, 40.478149, 39.872605 ] }, { "date": "2024-03-08", "close": 43.44125, "volume": 20011, "typical_volume": 10114.65, "trend": 39.450917, "fair_value": 38.475329, "relative_strength": 10.321013, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 87.84541, "energy": 94.265641, "activity_lines": [ 42.355917, 41.458773, 40.835536, 40.138231 ] }, { "date": "2024-03-15", "close": 43.866249, "volume": 13022, "typical_volume": 9442.6, "trend": 39.623667, "fair_value": 38.527091, "relative_strength": 10.106403, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 87.285223, "energy": 94.938707, "activity_lines": [ 43.041667, 41.989068, 41.199446, 40.423091 ] }, { "date": "2024-03-22", "close": 44.325001, "volume": 45022, "typical_volume": 11448.55, "trend": 39.815208, "fair_value": 38.578798, "relative_strength": 8.131141, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 86.076581, "energy": 94.608969, "activity_lines": [ 43.6175, 42.545887, 41.57078, 40.726403 ] }, { "date": "2024-03-29", "close": 44.974998, "volume": 765, "typical_volume": 11045.65, "trend": 39.978208, "fair_value": 38.634728, "relative_strength": 9.152741, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 86.963119, "energy": 94.97544, "activity_lines": [ 44.211499, 43.146659, 41.973125, 41.059293 ] }, { "date": "2024-04-05", "close": 44.884998, "volume": 2985, "typical_volume": 10737.9, "trend": 40.16875, "fair_value": 38.687941, "relative_strength": 9.177993, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 77.959763, "energy": 91.546638, "activity_lines": [ 44.564916, 43.631022, 42.328274, 41.37586 ] }, { "date": "2024-04-12", "close": 43.951248, "volume": 28126, "typical_volume": 12139.05, "trend": 40.321541, "fair_value": 38.726362, "relative_strength": 5.543696, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 68.024041, "energy": 69.83661, "activity_lines": [ 44.449165, 43.856158, 42.56397, 41.619892 ] }, { "date": "2024-04-19", "close": 43.240002, "volume": 6383, "typical_volume": 12229.9, "trend": 40.502208, "fair_value": 38.759944, "relative_strength": 4.90092, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 65.323153, "energy": 64.226045, "activity_lines": [ 44.062333, 43.88075, 42.708208, 41.80818 ] }, { "date": "2024-04-26", "close": 43.209999, "volume": 25595, "typical_volume": 13451.05, "trend": 40.674625, "fair_value": 38.792436, "relative_strength": 1.520072, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 50.983735, "energy": 48.858705, "activity_lines": [ 43.707249, 43.83959, 42.83397, 41.982876 ] }, { "date": "2024-05-03", "close": 43.290001, "volume": 31782, "typical_volume": 15026.0, "trend": 40.875375, "fair_value": 38.812196, "relative_strength": 0.644589, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 43.722139, "energy": 33.410263, "activity_lines": [ 43.453167, 43.779113, 42.948839, 42.15161 ] }, { "date": "2024-05-10", "close": 44.490002, "volume": 13272, "typical_volume": 14892.1, "trend": 41.114917, "fair_value": 38.839095, "relative_strength": 0.551721, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 58.100882, "energy": 39.579667, "activity_lines": [ 43.711418, 43.910023, 43.167446, 42.384812 ] }, { "date": "2024-05-17", "close": 44.505001, "volume": 18372, "typical_volume": 15808.7, "trend": 41.388042, "fair_value": 38.867556, "relative_strength": 0.576086, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 60.968022, "energy": 47.501342, "activity_lines": [ 44.001001, 44.007773, 43.371595, 42.603527 ] }, { "date": "2024-05-24", "close": 44.279999, "volume": 1051, "typical_volume": 15142.5, "trend": 41.655708, "fair_value": 38.894648, "relative_strength": 1.087675, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 63.084459, "energy": 52.504287, "activity_lines": [ 44.178667, 44.045273, 43.540006, 42.790105 ] }, { "date": "2024-05-31", "close": 43.634998, "volume": 4260, "typical_volume": 15238.3, "trend": 41.848958, "fair_value": 38.916058, "relative_strength": -0.008515, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 58.658197, "energy": 47.742452, "activity_lines": [ 44.072, 43.957977, 43.630119, 42.917801 ] }, { "date": "2024-06-07", "close": 43.651249, "volume": 1925, "typical_volume": 14280.25, "trend": 42.075208, "fair_value": 38.942965, "relative_strength": 0.272607, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 54.599742, "energy": 39.278345, "activity_lines": [ 43.942416, 43.886182, 43.705625, 43.034078 ] }, { "date": "2024-06-14", "close": 43.05875, "volume": 3054, "typical_volume": 13704.3, "trend": 42.228, "fair_value": 38.979904, "relative_strength": 0.027358, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 34.327061, "energy": 19.655697, "activity_lines": [ 43.591249, 43.730727, 43.704803, 43.097532 ] }, { "date": "2024-06-21", "close": 43.282501, "volume": 15397, "typical_volume": 14162.1, "trend": 42.37175, "fair_value": 39.013333, "relative_strength": -0.617011, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 18.642093, "energy": 18.031697, "activity_lines": [ 43.410083, 43.649159, 43.710559, 43.165564 ] }, { "date": "2024-06-28", "close": 43.115002, "volume": 7799, "typical_volume": 13038.35, "trend": 42.476917, "fair_value": 39.044664, "relative_strength": -0.121879, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 9.01513, "energy": 15.964564, "activity_lines": [ 43.254584, 43.549296, 43.684893, 43.213516 ] }, { "date": "2024-07-05", "close": 42.549999, "volume": 9091, "typical_volume": 12936.8, "trend": 42.5845, "fair_value": 39.072228, "relative_strength": -1.843424, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -8.608511, "energy": 21.239503, "activity_lines": [ 42.988417, 43.348977, 43.59022, 43.218231 ] }, { "date": "2024-07-12", "close": 44.072498, "volume": 12176, "typical_volume": 13111.85, "trend": 42.684417, "fair_value": 39.113333, "relative_strength": 1.067155, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 23.031905, "energy": 15.30985, "activity_lines": [ 43.302083, 43.437477, 43.634821, 43.314231 ] }, { "date": "2024-07-19", "close": 43.767502, "volume": 8925, "typical_volume": 13450.65, "trend": 42.771542, "fair_value": 39.153285, "relative_strength": 1.507239, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 28.534111, "energy": 12.882968, "activity_lines": [ 43.486, 43.456296, 43.639631, 43.384107 ] }, { "date": "2024-07-26", "close": 44.268749, "volume": 4304, "typical_volume": 12665.3, "trend": 42.863833, "fair_value": 39.189351, "relative_strength": 1.043357, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 46.726765, "energy": 26.780711, "activity_lines": [ 43.78975, 43.579386, 43.68622, 43.480702 ] }, { "date": "2024-08-02", "close": 43.313751, "volume": 21673, "typical_volume": 13097.85, "trend": 42.949708, "fair_value": 39.218422, "relative_strength": 0.224059, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 27.478515, "energy": 21.197071, "activity_lines": [ 43.709417, 43.533136, 43.637917, 43.509728 ] }, { "date": "2024-08-09", "close": 43.134998, "volume": 2186, "typical_volume": 10956.05, "trend": 43.046125, "fair_value": 39.239055, "relative_strength": -0.113719, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 19.333784, "energy": 11.374154, "activity_lines": [ 43.55625, 43.471954, 43.57522, 43.521683 ] }, { "date": "2024-08-16", "close": 43.927502, "volume": 512, "typical_volume": 10943.4, "trend": 43.194625, "fair_value": 39.273462, "relative_strength": -0.017321, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 38.538565, "energy": 17.11446, "activity_lines": [ 43.62825, 43.563955, 43.593667, 43.578546 ] }, { "date": "2024-08-23", "close": 45.217499, "volume": 11156, "typical_volume": 11351.95, "trend": 43.369708, "fair_value": 39.309623, "relative_strength": 2.65164, "stage": 2, "regime": "deceleration", "modifier": "Re-acceleration watch", "gate": "up", "direction": 67.979999, "energy": 37.322581, "activity_lines": [ 44.139917, 43.885477, 43.739958, 43.709054 ] }, { "date": "2024-08-30", "close": 45.439999, "volume": 2800, "typical_volume": 10085.65, "trend": 43.549917, "fair_value": 39.348117, "relative_strength": 2.535454, "stage": 2, "regime": "deceleration", "modifier": "Re-acceleration watch", "gate": "up", "direction": 72.584443, "energy": 65.046381, "activity_lines": [ 44.629083, 44.208204, 43.905857, 43.842621 ] }, { "date": "2024-09-06", "close": 43.855, "volume": 13725, "typical_volume": 10452.75, "trend": 43.680958, "fair_value": 39.379599, "relative_strength": 1.273608, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 50.558076, "energy": 54.633681, "activity_lines": [ 44.511833, 44.203522, 43.913714, 43.862304 ] }, { "date": "2024-09-13", "close": 45.162498, "volume": 121, "typical_volume": 9179.05, "trend": 43.808125, "fair_value": 39.428686, "relative_strength": 3.005829, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 63.854959, "energy": 64.537172, "activity_lines": [ 44.794332, 44.423113, 44.043166, 43.957887 ] }, { "date": "2024-09-20", "close": 45.731251, "volume": 2686, "typical_volume": 7724.25, "trend": 43.938625, "fair_value": 39.480441, "relative_strength": 4.608339, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 71.398197, "energy": 65.399127, "activity_lines": [ 45.13125, 44.698613, 44.217488, 44.08196 ] }, { "date": "2024-09-27", "close": 47.631248, "volume": 20409, "typical_volume": 8081.1, "trend": 44.109125, "fair_value": 39.549832, "relative_strength": 7.483528, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 86.797744, "energy": 78.536791, "activity_lines": [ 45.981249, 45.289408, 44.561137, 44.320193 ] }, { "date": "2024-10-04", "close": 46.15625, "volume": 11922, "typical_volume": 7758.6, "trend": 44.199625, "fair_value": 39.603446, "relative_strength": 4.433927, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 61.958401, "energy": 73.36983, "activity_lines": [ 46.178666, 45.541772, 44.749351, 44.452266 ] }, { "date": "2024-10-11", "close": 46.90625, "volume": 6276, "typical_volume": 8019.85, "trend": 44.300958, "fair_value": 39.654191, "relative_strength": 6.180509, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 70.01885, "energy": 80.174955, "activity_lines": [ 46.578333, 45.896181, 45.001131, 44.626887 ] }, { "date": "2024-10-18", "close": 47.7225, "volume": 36592, "typical_volume": 9636.45, "trend": 44.414208, "fair_value": 39.707508, "relative_strength": 6.369018, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 79.72203, "energy": 86.107633, "activity_lines": [ 47.046666, 46.333681, 45.318143, 44.847631 ] }, { "date": "2024-10-25", "close": 46.192501, "volume": 50091, "typical_volume": 12044.75, "trend": 44.454792, "fair_value": 39.74976, "relative_strength": 4.091254, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 62.160118, "energy": 54.724912, "activity_lines": [ 46.834334, 46.409591, 45.469976, 44.96236 ] }, { "date": "2024-11-01", "close": 45.387501, "volume": 51811, "typical_volume": 14482.6, "trend": 44.471542, "fair_value": 39.779936, "relative_strength": 3.007271, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 57.410374, "energy": 42.446142, "activity_lines": [ 46.322917, 46.297955, 45.533042, 45.022535 ] }, { "date": "2024-11-08", "close": 46.049999, "volume": 87338, "typical_volume": 18079.65, "trend": 44.5415, "fair_value": 39.807973, "relative_strength": 5.605174, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 43.048096, "energy": 30.488476, "activity_lines": [ 46.181917, 46.303682, 45.648113, 45.124371 ] }, { "date": "2024-11-15", "close": 44.637501, "volume": 80768, "typical_volume": 21728.1, "trend": 44.588083, "fair_value": 39.831691, "relative_strength": 2.328786, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 21.651667, "energy": 20.98473, "activity_lines": [ 45.577167, 46.0415, 45.615482, 45.130564 ] }, { "date": "2024-11-22", "close": 45.717499, "volume": 92422, "typical_volume": 25894.65, "trend": 44.671667, "fair_value": 39.8698, "relative_strength": 2.167087, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 27.168451, "energy": 22.328494, "activity_lines": [ 45.483667, 45.961455, 45.678458, 45.20343 ] }, { "date": "2024-11-29", "close": 46.112499, "volume": 8579, "typical_volume": 25714.8, "trend": 44.76575, "fair_value": 39.911138, "relative_strength": 2.642776, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 32.329151, "energy": 18.648628, "activity_lines": [ 45.6555, 45.943136, 45.76397, 45.296387 ] }, { "date": "2024-12-06", "close": 44.994999, "volume": 36393, "typical_volume": 27088.2, "trend": 44.782583, "fair_value": 39.938397, "relative_strength": -0.175919, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 8.707015, "energy": 12.069789, "activity_lines": [ 45.460166, 45.714704, 45.733339, 45.311177 ] }, { "date": "2024-12-13", "close": 43.637501, "volume": 84373, "typical_volume": 31091.65, "trend": 44.753666, "fair_value": 39.954992, "relative_strength": -3.034396, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -12.171799, "energy": 17.314885, "activity_lines": [ 44.8385, 45.287386, 45.567577, 45.237301 ] }, { "date": "2024-12-20", "close": 41.807499, "volume": 50824, "typical_volume": 32549.2, "trend": 44.67125, "fair_value": 39.959054, "relative_strength": -4.562928, "stage": 3, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -46.135626, "energy": 56.811445, "activity_lines": [ 43.767666, 44.573136, 45.230535, 45.047226 ] }, { "date": "2024-12-27", "close": 41.7575, "volume": 602, "typical_volume": 32470.0, "trend": 44.608666, "fair_value": 39.958149, "relative_strength": -5.358133, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -45.046687, "energy": 71.166481, "activity_lines": [ 42.868833, 43.9425, 44.895905, 44.859242 ] }, { "date": "2025-01-03", "close": 40.783749, "volume": 27361, "typical_volume": 33812.45, "trend": 44.513083, "fair_value": 39.953373, "relative_strength": -8.288774, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -57.59018, "energy": 82.606013, "activity_lines": [ 41.909416, 43.243272, 44.475095, 44.612473 ] }, { "date": "2025-01-10", "close": 40.830002, "volume": 19912, "typical_volume": 34250.25, "trend": 44.438792, "fair_value": 39.952933, "relative_strength": -8.350637, "stage": 4, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -78.290638, "energy": 91.51412, "activity_lines": [ 41.320667, 42.650795, 44.073661, 44.374855 ] }, { "date": "2025-01-17", "close": 43.463749, "volume": 28881, "typical_volume": 35554.3, "trend": 44.444833, "fair_value": 39.975649, "relative_strength": -5.322777, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -66.066649, "energy": 77.89193, "activity_lines": [ 41.8875, 42.620045, 43.943952, 44.311949 ] }, { "date": "2025-01-24", "close": 43.841251, "volume": 4428, "typical_volume": 35089.45, "trend": 44.469041, "fair_value": 40.012131, "relative_strength": -4.442447, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -61.387629, "energy": 48.822277, "activity_lines": [ 42.59175, 42.704955, 43.859607, 44.273008 ] }, { "date": "2025-01-31", "close": 43.740002, "volume": 43807, "typical_volume": 37273.75, "trend": 44.508708, "fair_value": 40.044776, "relative_strength": -6.477802, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -43.055829, "energy": 27.258183, "activity_lines": [ 43.126668, 42.785932, 43.765685, 44.225973 ] }, { "date": "2025-02-07", "close": 43.43375, "volume": 51580, "typical_volume": 39718.45, "trend": 44.487417, "fair_value": 40.068966, "relative_strength": -7.322904, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -34.352947, "energy": 31.134908, "activity_lines": [ 43.427334, 42.847182, 43.649369, 44.156621 ] }, { "date": "2025-02-14", "close": 44.283749, "volume": 45038, "typical_volume": 40949.9, "trend": 44.504625, "fair_value": 40.102596, "relative_strength": -5.757724, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -24.531844, "energy": 27.504898, "activity_lines": [ 43.834667, 43.111682, 43.624947, 44.143481 ] }, { "date": "2025-02-21", "close": 43.645, "volume": 3883, "typical_volume": 40547.95, "trend": 44.483833, "fair_value": 40.133694, "relative_strength": -6.203579, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -26.104981, "energy": 23.699517, "activity_lines": [ 43.798833, 43.272977, 43.555631, 44.088021 ] }, { "date": "2025-02-28", "close": 43.247501, "volume": 4081, "typical_volume": 40438.2, "trend": 44.481625, "fair_value": 40.166779, "relative_strength": -8.438666, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -31.534984, "energy": 19.734661, "activity_lines": [ 43.618417, 43.361864, 43.460417, 44.008258 ] }, { "date": "2025-03-07", "close": 42.602501, "volume": 17060, "typical_volume": 39461.6, "trend": 44.463875, "fair_value": 40.193341, "relative_strength": -8.204137, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -56.151958, "energy": 26.448032, "activity_lines": [ 43.262584, 43.307296, 43.321197, 43.887024 ] }, { "date": "2025-03-14", "close": 41.987499, "volume": 12817, "typical_volume": 37597.9, "trend": 44.399208, "fair_value": 40.207837, "relative_strength": -8.763718, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -67.095085, "energy": 43.034215, "activity_lines": [ 42.777583, 43.125546, 43.147786, 43.727258 ] }, { "date": "2025-03-21", "close": 41.799999, "volume": 352, "typical_volume": 35024.95, "trend": 44.285292, "fair_value": 40.210192, "relative_strength": -9.075916, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -70.368952, "energy": 69.543629, "activity_lines": [ 42.3265, 42.887818, 42.976542, 43.559567 ] }, { "date": "2025-03-28", "close": 42.112499, "volume": 22610, "typical_volume": 31788.55, "trend": 44.174375, "fair_value": 40.214776, "relative_strength": -8.261407, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -62.432214, "energy": 69.180048, "activity_lines": [ 42.145166, 42.689272, 42.852143, 43.419387 ] }, { "date": "2025-04-04", "close": 39.244999, "volume": 48281, "typical_volume": 30164.2, "trend": 44.020708, "fair_value": 40.200288, "relative_strength": -7.83054, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -91.473518, "energy": 87.121393, "activity_lines": [ 41.110166, 41.993931, 42.473399, 43.101363 ] }, { "date": "2025-04-11", "close": 38.900002, "volume": 10553, "typical_volume": 26070.75, "trend": 43.811958, "fair_value": 40.181122, "relative_strength": -7.392823, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -86.658383, "energy": 87.768177, "activity_lines": [ 40.227, 41.319432, 42.087476, 42.770995 ] }, { "date": "2025-04-18", "close": 39.9925, "volume": 1966, "typical_volume": 25740.1, "trend": 43.620667, "fair_value": 40.177356, "relative_strength": -8.160068, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -66.660949, "energy": 81.609728, "activity_lines": [ 39.954833, 40.931568, 41.838066, 42.524578 ] }, { "date": "2025-04-25", "close": 40.612499, "volume": 1275, "typical_volume": 23984.2, "trend": 43.386708, "fair_value": 40.177644, "relative_strength": -8.121413, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -64.779843, "energy": 75.06308, "activity_lines": [ 40.022333, 40.719, 41.676845, 42.330503 ] }, { "date": "2025-05-02", "close": 41.762501, "volume": 12644, "typical_volume": 20397.75, "trend": 43.24025, "fair_value": 40.191827, "relative_strength": -7.370278, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -59.14839, "energy": 47.076812, "activity_lines": [ 40.552334, 40.782273, 41.646018, 42.225715 ] }, { "date": "2025-05-09", "close": 41.6675, "volume": 62004, "typical_volume": 20956.75, "trend": 43.065625, "fair_value": 40.210777, "relative_strength": -6.993612, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -41.234125, "energy": 26.501524, "activity_lines": [ 41.074, 40.8625, 41.615071, 42.124247 ] }, { "date": "2025-05-16", "close": 42.4175, "volume": 12733, "typical_volume": 21563.3, "trend": 42.888792, "fair_value": 40.238341, "relative_strength": -6.597007, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -23.663687, "energy": 21.589808, "activity_lines": [ 41.684167, 41.107818, 41.65622, 42.082433 ] }, { "date": "2025-05-23", "close": 42.217499, "volume": 19980, "typical_volume": 21194.25, "trend": 42.756292, "fair_value": 40.250649, "relative_strength": -7.229434, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -18.24093, "energy": 22.593714, "activity_lines": [ 41.993166, 41.320136, 41.675179, 42.039124 ] }, { "date": "2025-05-30", "close": 42.462502, "volume": 780, "typical_volume": 20237.65, "trend": 42.658792, "fair_value": 40.269976, "relative_strength": -7.121739, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -12.831866, "energy": 20.571151, "activity_lines": [ 42.2355, 41.572818, 41.710643, 42.020169 ] }, { "date": "2025-06-06", "close": 43.365002, "volume": 7849, "typical_volume": 19186.05, "trend": 42.569292, "fair_value": 40.303381, "relative_strength": -5.71593, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 28.89785, "energy": 29.63503, "activity_lines": [ 42.655334, 41.977546, 41.824286, 42.065731 ] }, { "date": "2025-06-13", "close": 43.5825, "volume": 1461, "typical_volume": 19037.7, "trend": 42.534125, "fair_value": 40.360393, "relative_strength": -5.252599, "stage": 4, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 31.691576, "energy": 37.910586, "activity_lines": [ 43.040834, 42.399046, 41.959113, 42.1311 ] }, { "date": "2025-06-20", "close": 42.8675, "volume": 4937, "typical_volume": 17094.2, "trend": 42.439125, "fair_value": 40.406963, "relative_strength": -5.872427, "stage": 4, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 22.283345, "energy": 39.26785, "activity_lines": [ 43.060334, 42.611682, 42.027078, 42.152608 ] }, { "date": "2025-06-27", "close": 43.665001, "volume": 15728, "typical_volume": 15301.6, "trend": 42.357542, "fair_value": 40.466667, "relative_strength": -4.272023, "stage": 4, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 30.151154, "energy": 46.787961, "activity_lines": [ 43.315667, 42.897182, 42.175149, 42.231697 ] }, { "date": "2025-07-04", "close": 44.915001, "volume": 10525, "typical_volume": 13575.95, "trend": 42.354875, "fair_value": 40.532997, "relative_strength": -1.764546, "stage": 3, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "up", "direction": 81.284311, "energy": 74.932859, "activity_lines": [ 43.891167, 43.343183, 42.441167, 42.396694 ] }, { "date": "2025-07-11", "close": 44.927502, "volume": 28576, "typical_volume": 14810.6, "trend": 42.397875, "fair_value": 40.603622, "relative_strength": -2.922587, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 78.643068, "energy": 81.032586, "activity_lines": [ 44.307334, 43.713228, 42.70537, 42.56267 ] }, { "date": "2025-07-18", "close": 44.369999, "volume": 9038, "typical_volume": 15058.45, "trend": 42.483292, "fair_value": 40.660008, "relative_strength": -4.517665, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 64.555495, "energy": 77.801905, "activity_lines": [ 44.433501, 43.924364, 42.910369, 42.689904 ] }, { "date": "2025-07-25", "close": 45.139999, "volume": 21838, "typical_volume": 15297.35, "trend": 42.596042, "fair_value": 40.71508, "relative_strength": -4.085695, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 73.707771, "energy": 83.271686, "activity_lines": [ 44.763833, 44.226364, 43.183357, 42.861304 ] }, { "date": "2025-08-01", "close": 42.91, "volume": 12306, "typical_volume": 15271.8, "trend": 42.666917, "fair_value": 40.759776, "relative_strength": -8.110143, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 59.58972, "energy": 44.555463, "activity_lines": [ 44.199333, 44.073409, 43.231881, 42.881559 ] }, { "date": "2025-08-08", "close": 44.18, "volume": 16901, "typical_volume": 16099.25, "trend": 42.778584, "fair_value": 40.800865, "relative_strength": -5.522897, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 47.755591, "energy": 33.326734, "activity_lines": [ 44.1085, 44.138773, 43.396965, 42.979178 ] }, { "date": "2025-08-15", "close": 44.935001, "volume": 16762, "typical_volume": 15806.85, "trend": 42.827625, "fair_value": 40.851058, "relative_strength": -4.230648, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 67.638941, "energy": 40.753838, "activity_lines": [ 44.318333, 44.310182, 43.622619, 43.118301 ] }, { "date": "2025-08-22", "close": 46.025002, "volume": 8023, "typical_volume": 13793.95, "trend": 42.900417, "fair_value": 40.908854, "relative_strength": -3.650445, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 76.386541, "energy": 47.78613, "activity_lines": [ 44.891001, 44.651228, 43.938643, 43.324584 ] }, { "date": "2025-08-29", "close": 45.952499, "volume": 9230, "typical_volume": 13727.8, "trend": 42.974167, "fair_value": 40.975072, "relative_strength": -2.242957, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 74.4475, "energy": 67.03743, "activity_lines": [ 45.329167, 44.934682, 44.215477, 43.521492 ] }, { "date": "2025-09-05", "close": 45.755001, "volume": 6567, "typical_volume": 13957.85, "trend": 43.051542, "fair_value": 41.034599, "relative_strength": -2.740985, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 66.669981, "energy": 74.738872, "activity_lines": [ 45.647334, 45.126137, 44.439917, 43.700901 ] }, { "date": "2025-09-12", "close": 45.855, "volume": 18659, "typical_volume": 14827.05, "trend": 43.103917, "fair_value": 41.110497, "relative_strength": -3.127534, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 66.43637, "energy": 73.185951, "activity_lines": [ 45.809167, 45.297773, 44.646441, 43.881769 ] }, { "date": "2025-09-19", "close": 45.362499, "volume": 23033, "typical_volume": 15346.5, "trend": 43.161167, "fair_value": 41.195032, "relative_strength": -3.243827, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 61.888107, "energy": 54.020335, "activity_lines": [ 45.695167, 45.362773, 44.781096, 44.027484 ] }, { "date": "2025-09-26", "close": 44.327499, "volume": 519, "typical_volume": 12272.25, "trend": 43.197167, "fair_value": 41.270128, "relative_strength": -5.806551, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 45.285781, "energy": 31.553272, "activity_lines": [ 45.207666, 45.231682, 44.800036, 44.102731 ] }, { "date": "2025-10-03", "close": 44.912601, "volume": 30690, "typical_volume": 13170.1, "trend": 43.27417, "fair_value": 41.346379, "relative_strength": -6.340407, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 40.119129, "energy": 24.052632, "activity_lines": [ 45.028367, 45.207746, 44.862034, 44.213405 ] }, { "date": "2025-10-10", "close": 44.237499, "volume": 38662, "typical_volume": 14104.2, "trend": 43.34917, "fair_value": 41.420554, "relative_strength": -6.772398, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 29.947917, "energy": 21.195712, "activity_lines": [ 44.69336, 45.065198, 44.847854, 44.275555 ] }, { "date": "2025-10-17", "close": 44.040001, "volume": 2129, "typical_volume": 14171.65, "trend": 43.423837, "fair_value": 41.487485, "relative_strength": -6.105961, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 16.656258, "energy": 18.922594, "activity_lines": [ 44.393687, 44.862605, 44.805247, 44.320125 ] }, { "date": "2025-10-24", "close": 44.459999, "volume": 8319, "typical_volume": 14195.15, "trend": 43.502087, "fair_value": 41.54839, "relative_strength": -7.719652, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 11.273567, "energy": 14.37429, "activity_lines": [ 44.355013, 44.738922, 44.795127, 44.386974 ] }, { "date": "2025-10-31", "close": 42.799999, "volume": 7620, "typical_volume": 14503.1, "trend": 43.620587, "fair_value": 41.597212, "relative_strength": -11.429817, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -18.643508, "energy": 27.047778, "activity_lines": [ 43.823173, 44.322056, 44.621698, 44.341678 ] }, { "date": "2025-11-07", "close": 42.602501, "volume": 5018, "typical_volume": 14507.15, "trend": 43.744004, "fair_value": 41.624648, "relative_strength": -11.073893, "stage": 3, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -39.290614, "energy": 54.716549, "activity_lines": [ 43.327333, 43.927918, 44.433186, 44.275995 ] }, { "date": "2025-11-14", "close": 43.627499, "volume": 5703, "typical_volume": 14005.9, "trend": 43.86517, "fair_value": 41.662805, "relative_strength": -8.714716, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -23.369947, "energy": 49.125079, "activity_lines": [ 43.327166, 43.781052, 44.343554, 44.268478 ] }, { "date": "2025-11-21", "close": 42.849998, "volume": 10067, "typical_volume": 13983.0, "trend": 43.939753, "fair_value": 41.688727, "relative_strength": -8.477972, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -40.065061, "energy": 59.222964, "activity_lines": [ 43.108499, 43.531505, 44.180054, 44.202983 ] }, { "date": "2025-11-28", "close": 44.575001, "volume": 7273, "typical_volume": 12917.85, "trend": 44.033503, "fair_value": 41.72311, "relative_strength": -6.204767, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -17.741416, "energy": 21.002753, "activity_lines": [ 43.544166, 43.650231, 44.190672, 44.243967 ] }, { "date": "2025-12-05", "close": 44.1525, "volume": 17683, "typical_volume": 13350.1, "trend": 44.116337, "fair_value": 41.758134, "relative_strength": -6.266926, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -9.159521, "energy": 7.515783, "activity_lines": [ 43.831333, 43.706456, 44.162731, 44.251644 ] }, { "date": "2025-12-12", "close": 44.872501, "volume": 4087, "typical_volume": 12462.55, "trend": 44.19817, "fair_value": 41.807693, "relative_strength": -4.331569, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 11.322529, "energy": 12.82422, "activity_lines": [ 44.268334, 43.896773, 44.204398, 44.300429 ] }, { "date": "2025-12-19", "close": 45.275002, "volume": 2110, "typical_volume": 11952.75, "trend": 44.300087, "fair_value": 41.860065, "relative_strength": -5.673302, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 22.415314, "energy": 25.917928, "activity_lines": [ 44.688168, 44.161, 44.285671, 44.369902 ] }, { "date": "2025-12-26", "close": 45.942501, "volume": 1007, "typical_volume": 11158.05, "trend": 44.416087, "fair_value": 41.917837, "relative_strength": -3.844759, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 58.629049, "energy": 45.48978, "activity_lines": [ 45.220668, 44.527728, 44.419254, 44.475864 ] }, { "date": "2026-01-02", "close": 45.807499, "volume": 269, "typical_volume": 10333.4, "trend": 44.497503, "fair_value": 41.968238, "relative_strength": -4.767274, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 56.346133, "energy": 56.584776, "activity_lines": [ 45.502, 44.835318, 44.531587, 44.565633 ] }, { "date": "2026-01-09", "close": 48.012501, "volume": 1144, "typical_volume": 9989.45, "trend": 44.64517, "fair_value": 42.023166, "relative_strength": -1.812451, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 86.553648, "energy": 81.194052, "activity_lines": [ 46.436167, 45.519319, 44.849765, 44.792407 ] }, { "date": "2026-01-16", "close": 48.560001, "volume": 26649, "typical_volume": 10860.4, "trend": 44.83492, "fair_value": 42.084352, "relative_strength": -1.623527, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 87.702174, "energy": 88.600247, "activity_lines": [ 47.295501, 46.208092, 45.210622, 45.044977 ] }, { "date": "2026-01-23", "close": 49.77, "volume": 6047, "typical_volume": 10834.4, "trend": 45.03842, "fair_value": 42.150033, "relative_strength": 1.842686, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 89.658595, "energy": 93.723397, "activity_lines": [ 48.312334, 47.008546, 45.6743, 45.363369 ] }, { "date": "2026-01-30", "close": 49.400002, "volume": 22573, "typical_volume": 11030.1, "trend": 45.18792, "fair_value": 42.210425, "relative_strength": 0.377981, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 77.955744, "energy": 91.336316, "activity_lines": [ 48.906168, 47.630046, 46.083621, 45.644761 ] }, { "date": "2026-02-06", "close": 50.945, "volume": 99005, "typical_volume": 14828.7, "trend": 45.388503, "fair_value": 42.288775, "relative_strength": 2.089211, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 85.811629, "energy": 93.665293, "activity_lines": [ 49.784501, 48.413364, 46.623204, 46.016186 ] }, { "date": "2026-02-13", "close": 53.205002, "volume": 129350, "typical_volume": 21270.25, "trend": 45.683004, "fair_value": 42.383454, "relative_strength": 5.826948, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 93.334945, "energy": 96.502994, "activity_lines": [ 51.073668, 49.491774, 47.351442, 46.520476 ] }, { "date": "2026-02-20", "close": 52.224998, "volume": 10597, "typical_volume": 20265.6, "trend": 45.91917, "fair_value": 42.475834, "relative_strength": 1.60226, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 77.488963, "energy": 90.219507, "activity_lines": [ 51.69, 50.227409, 47.944072, 46.94254 ] }, { "date": "2026-02-27", "close": 53.215, "volume": 13421, "typical_volume": 19003.55, "trend": 46.26267, "fair_value": 42.561235, "relative_strength": 1.418507, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 81.690118, "energy": 91.490832, "activity_lines": [ 52.392, 51.009364, 48.596167, 47.413239 ] }, { "date": "2026-03-06", "close": 49.872501, "volume": 15368, "typical_volume": 19665.5, "trend": 46.45242, "fair_value": 42.63843, "relative_strength": 0.855503, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 67.089983, "energy": 65.82039, "activity_lines": [ 51.750167, 51.039228, 48.887179, 47.646131 ] }, { "date": "2026-03-13", "close": 49.205002, "volume": 26270, "typical_volume": 20563.05, "trend": 46.594754, "fair_value": 42.723214, "relative_strength": -0.238073, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 52.891718, "energy": 49.009954, "activity_lines": [ 50.854334, 50.876273, 49.086846, 47.823717 ] }, { "date": "2026-03-20", "close": 47.150002, "volume": 12006, "typical_volume": 20782.35, "trend": 46.632254, "fair_value": 42.792156, "relative_strength": -1.06777, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 30.772264, "energy": 22.582528, "activity_lines": [ 49.389501, 50.27791, 49.068203, 47.859539 ] }, { "date": "2026-03-27", "close": 48.837502, "volume": 12469, "typical_volume": 21154.9, "trend": 46.72842, "fair_value": 42.860433, "relative_strength": 1.95344, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 29.718404, "energy": 30.156038, "activity_lines": [ 48.890835, 50.002047, 49.18956, 48.001814 ] }, { "date": "2026-04-03", "close": 50.32, "volume": 11664, "typical_volume": 21452.95, "trend": 46.880587, "fair_value": 42.941411, "relative_strength": 0.348803, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 33.673215, "energy": 27.863761, "activity_lines": [ 49.112168, 49.990683, 49.422417, 48.233528 ] }, { "date": "2026-04-10", "close": 52.115002, "volume": 9190, "typical_volume": 21409.1, "trend": 47.089254, "fair_value": 43.028406, "relative_strength": 2.305514, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 54.162524, "energy": 26.56512, "activity_lines": [ 50.124835, 50.295683, 49.794358, 48.571233 ] }, { "date": "2026-04-17", "close": 52.029999, "volume": 261284, "typical_volume": 34109.65, "trend": 47.311504, "fair_value": 43.116323, "relative_strength": 1.477971, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 65.178914, "energy": 43.958498, "activity_lines": [ 50.959667, 50.535864, 50.114084, 48.88999 ] }, { "date": "2026-04-24", "close": 51.869999, "volume": 544168, "typical_volume": 60433.9, "trend": 47.56292, "fair_value": 43.203526, "relative_strength": 3.906639, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 61.370716, "energy": 55.217233, "activity_lines": [ 51.552833, 50.727228, 50.383072, 49.184087 ] }, { "date": "2026-05-01", "close": 51.185001, "volume": 102819, "typical_volume": 65370.5, "trend": 47.772, "fair_value": 43.289151, "relative_strength": 2.651717, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 58.246419, "energy": 54.511597, "activity_lines": [ 51.603, 50.818319, 50.550072, 49.417769 ] }, { "date": "2026-05-08", "close": 51.345001, "volume": 55944, "typical_volume": 68062.2, "trend": 48.008917, "fair_value": 43.380417, "relative_strength": 4.227614, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 56.097197, "energy": 46.542159, "activity_lines": [ 51.55, 50.95741, 50.702251, 49.648286 ] }, { "date": "2026-05-15", "close": 50.294998, "volume": 109755, "typical_volume": 73499.6, "trend": 48.217417, "fair_value": 43.463046, "relative_strength": 2.453673, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 49.903593, "energy": 30.636504, "activity_lines": [ 51.078666, 50.939591, 50.725524, 49.795775 ] }, { "date": "2026-05-22", "close": 50.099998, "volume": 31207, "typical_volume": 75046.5, "trend": 48.405417, "fair_value": 43.552397, "relative_strength": -0.56293, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 34.232296, "energy": 17.380561, "activity_lines": [ 50.663666, 50.878636, 50.7095, 49.917231 ] }, { "date": "2026-05-29", "close": 51.099998, "volume": 26146, "typical_volume": 76296.6, "trend": 48.682084, "fair_value": 43.640417, "relative_strength": 1.949274, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 35.091269, "energy": 16.857007, "activity_lines": [ 50.710665, 50.983227, 50.768274, 50.091075 ] }, { "date": "2026-06-05", "close": 50.735001, "volume": 3357, "typical_volume": 75132.0, "trend": 48.953167, "fair_value": 43.724921, "relative_strength": 1.628709, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 31.092303, "energy": 15.467641, "activity_lines": [ 50.687333, 50.949636, 50.777583, 50.223522 ] }, { "date": "2026-06-12", "close": 51.715, "volume": 3577, "typical_volume": 75008.5, "trend": 49.22275, "fair_value": 43.808262, "relative_strength": 2.561039, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 44.650895, "energy": 22.65001, "activity_lines": [ 51.020666, 51.059727, 50.869869, 50.401704 ] }, { "date": "2026-06-19", "close": 51.34, "volume": 2222, "typical_volume": 73990.95, "trend": 49.50575, "fair_value": 43.89343, "relative_strength": 2.854145, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 50.430286, "energy": 28.988345, "activity_lines": [ 51.204333, 51.076272, 50.917179, 50.538301 ] }, { "date": "2026-06-26", "close": 51.52, "volume": 2218, "typical_volume": 69151.6, "trend": 49.73725, "fair_value": 43.970417, "relative_strength": 1.817676, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 53.896191, "energy": 36.442337, "activity_lines": [ 51.378333, 51.139636, 50.972393, 50.668253 ] }, { "date": "2026-07-03", "close": 52.095001, "volume": 2441, "typical_volume": 62806.15, "trend": 50.002, "fair_value": 44.054552, "relative_strength": 1.391491, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 63.713027, "energy": 49.707862, "activity_lines": [ 51.649334, 51.316818, 51.079631, 50.820366 ] }, { "date": "2026-07-10", "close": 50.970001, "volume": 457317, "typical_volume": 85142.15, "trend": 50.20525, "fair_value": 44.126515, "relative_strength": 0.987369, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 50.560544, "energy": 33.363777, "activity_lines": [ 51.479001, 51.285364, 51.085012, 50.882817 ] }, { "date": "2026-07-17", "close": 50.715, "volume": 47878, "typical_volume": 86865.0, "trend": 50.386584, "fair_value": 44.195514, "relative_strength": -0.435401, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 32.137183, "energy": 17.354261, "activity_lines": [ 51.208, 51.211455, 51.072083, 50.915704 ] }, { "date": "2026-07-24", "close": 50.689999, "volume": 22089, "typical_volume": 87201.05, "trend": 50.544834, "fair_value": 44.259015, "relative_strength": -1.653498, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 24.487457, "energy": 10.164219, "activity_lines": [ 50.995333, 51.144455, 51.068679, 50.93528 ] }, { "date": "2026-07-31", "close": 49.895, "volume": 17763, "typical_volume": 86775.7, "trend": 50.681084, "fair_value": 44.319528, "relative_strength": -4.316824, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -20.258136, "energy": 18.650604, "activity_lines": [ 50.561, 50.925727, 50.985667, 50.893355 ] }, { "date": "2026-08-07", "close": 52.744999, "volume": 8419, "typical_volume": 86596.35, "trend": 50.838834, "fair_value": 44.403566, "relative_strength": 0.849968, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 48.673623, "energy": 19.077121, "activity_lines": [ 51.185, 51.228909, 51.170797, 51.026511 ] } ], "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." } } }