{ "ticker": { "uuid": "d3570843-af8f-4472-b30d-bf552a4da777", "symbol": "VCT", "name": "Victrex plc", "exchange": "LSE", "country": "GB", "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": "^FTSE", "stage": 1, "stage_name": "Basing", "phase": "1c", "phase_label": "Stage 1C \u00b7 Breakout watch", "transition": "stage_1_to_2_watch", "transition_label": "Stage 1 \u2192 2 watch", "confidence": 70.844, "architecture_regime": "rotation_up", "architecture_regime_label": "Rotation Up", "architecture_modifier": "Emerging rotation", "architecture_gate": "up", "architecture_direction": 87.821, "architecture_energy": 95.089, "architecture_maturity": 26.0, "architecture_confidence": 78.91, "architecture_tenure": "New", "architecture": { "interpretation": { "headline": "The Activity Line structure is rotating upward.", "body": "Fast Activity is improving relative to Slow Activity and price acceptance is strengthening. This is earlier than full positive Trend confirmation and remains a developing repair." }, "scores": { "balance": 21.9, "rotation_up": 85.88, "upward_expansion": 97.67, "deceleration": 41.83, "rotation_down": 10.68, "downward_expansion": 24.33 }, "activity_lines": [ 772.2, 714.545455, 670.73962, 655.645965 ], "activity_state": "Wide", "activity_direction": "Expanding", "rotation_direction": "Improving", "price_acceptance": 0.666667 }, "latest_close": 822.0, "trend_reference": 650.419879, "distance_from_trend": 0.263799, "trend_direction": "Improving", "fair_value": 963.075115, "distance_from_fair_value": -0.146484, "fair_value_direction": "Improving", "relative_strength": 14.872525, "relative_strength_direction": "Improving", "price_momentum": 0.223467, "excess_performance": 0.172232, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.263799, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.016905, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": false, "value": -0.146484, "read": "Below anchor" }, { "label": "Fair Value direction", "positive": true, "value": 0.283446, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": true, "value": 0.148725, "read": "Leading" }, { "label": "Relative strength direction", "positive": true, "value": 0.339445, "read": "Improving" }, { "label": "Price momentum", "positive": true, "value": 0.223467, "read": "Positive" }, { "label": "Volume balance", "positive": true, "value": 3.960465, "read": "Demand-led" } ], "volume": { "latest": 1142756, "relative_activity": 1.266269, "balance": 3.960465, "dry_up": 1.504386, "accumulation_observations": 7, "distribution_observations": 1 }, "risk": { "range_context": 0.057755, "annualized_volatility": 0.408307, "from_high_reference": -0.01083, "from_low_reference": 0.596446 }, "levels": { "trend_reference": 650.419879, "fair_value_reference": 963.075115, "structural_low": 514.893685, "invalidation": "A renewed decline below the structural range low, widening the discount to current Fair Value while Trend falls, weakens the base diagnosis." }, "outcomes": [ { "horizon": "Near term", "sample_count": 5, "median_return": -0.053024, "positive_rate": 0.2, "directional_follow_through": 0.2, "median_excess_return": -0.043177, "regime_survival": 0.2, "best_return": 0.077744, "worst_return": -0.080533, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 4, "median_return": -0.066759, "positive_rate": 0.0, "directional_follow_through": 0.0, "median_excess_return": -0.081389, "regime_survival": 0.0, "best_return": -0.043381, "worst_return": -0.189333, "sufficient": false }, { "horizon": "Extended", "sample_count": 4, "median_return": -0.079487, "positive_rate": 0.5, "directional_follow_through": 0.5, "median_excess_return": -0.087815, "regime_survival": 0.25, "best_return": 0.193844, "worst_return": -0.286064, "sufficient": false }, { "horizon": "Full cycle", "sample_count": 2, "median_return": -0.280529, "positive_rate": 0.0, "directional_follow_through": 0.0, "median_excess_return": -0.370656, "regime_survival": 0.0, "best_return": -0.172741, "worst_return": -0.388316, "sufficient": false } ], "ledger": [ { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2023-04-07", "end": "2023-04-21", "tenure": "New", "return": 0.078623, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2023-04-28", "end": "2023-12-01", "tenure": "Extended", "return": -0.127013, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2023-12-08", "end": "2024-02-02", "tenure": "Developing", "return": -0.081722, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2024-02-09", "end": "2024-11-29", "tenure": "Extended", "return": -0.363032, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2024-12-06", "end": "2025-01-17", "tenure": "Developing", "return": -0.031022, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2025-01-24", "end": "2025-04-04", "tenure": "Developing", "return": -0.208835, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2025-04-11", "end": "2025-04-18", "tenure": "New", "return": 0.058823, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-04-25", "end": "2026-01-02", "tenure": "Extended", "return": -0.212275, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-01-09", "end": "2026-01-23", "tenure": "New", "return": 0.066378, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2026-01-30", "end": "2026-02-13", "tenure": "New", "return": 0.07622, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-02-20", "end": "2026-03-20", "tenure": "Developing", "return": -0.218841, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2026-03-27", "end": "2026-07-03", "tenure": "Established", "return": 0.042618, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-07-10", "end": "2026-07-17", "tenure": "New", "return": 0.048744, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2026-07-24", "end": "2026-08-07", "tenure": "New", "return": 0.09893, "active": true } ], "chart_path": [ { "date": "2023-08-18", "close": 1443.275269, "volume": 399776, "typical_volume": 956312.45, "trend": 1603.656909, "fair_value": 1989.647509, "relative_strength": -8.956339, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -45.258001, "energy": 20.334317, "activity_lines": [ 1506.356234, 1497.500233, 1507.321904, 1540.121521 ] }, { "date": "2023-08-25", "close": 1441.279175, "volume": 306569, "typical_volume": 938645.55, "trend": 1591.784489, "fair_value": 1986.538973, "relative_strength": -9.70458, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -55.907547, "energy": 30.705061, "activity_lines": [ 1479.340601, 1491.057864, 1498.980322, 1529.645538 ] }, { "date": "2023-09-01", "close": 1502.164063, "volume": 407975, "typical_volume": 926245.8, "trend": 1578.614795, "fair_value": 1983.712078, "relative_strength": -7.171044, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -46.344011, "energy": 27.884419, "activity_lines": [ 1480.538298, 1495.830651, 1496.888199, 1523.863575 ] }, { "date": "2023-09-08", "close": 1471.222534, "volume": 1611063, "typical_volume": 896722.35, "trend": 1565.27867, "fair_value": 1980.245856, "relative_strength": -8.890365, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -49.127393, "energy": 30.680839, "activity_lines": [ 1473.88418, 1491.947066, 1492.11479, 1516.935042 ] }, { "date": "2023-09-15", "close": 1461.241577, "volume": 991905, "typical_volume": 905725.7, "trend": 1551.909257, "fair_value": 1976.849867, "relative_strength": -11.924183, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -51.146491, "energy": 30.343825, "activity_lines": [ 1468.228255, 1484.760665, 1487.274181, 1510.222972 ] }, { "date": "2023-09-22", "close": 1406.345093, "volume": 497785, "typical_volume": 878566.3, "trend": 1540.336141, "fair_value": 1974.201238, "relative_strength": -14.547941, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -63.509763, "energy": 38.676478, "activity_lines": [ 1449.064445, 1468.046771, 1478.212272, 1500.831735 ] }, { "date": "2023-09-29", "close": 1402.352661, "volume": 445233, "typical_volume": 820155.1, "trend": 1528.862821, "fair_value": 1970.843173, "relative_strength": -13.495893, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -63.303031, "energy": 50.0665, "activity_lines": [ 1431.031836, 1452.222113, 1469.981449, 1491.929575 ] }, { "date": "2023-10-06", "close": 1394.367676, "volume": 358592, "typical_volume": 787005.35, "trend": 1517.988289, "fair_value": 1967.197452, "relative_strength": -12.270694, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -62.656722, "energy": 55.740258, "activity_lines": [ 1412.932666, 1437.812948, 1461.536116, 1483.252469 ] }, { "date": "2023-10-13", "close": 1393.369507, "volume": 416902, "typical_volume": 775219.5, "trend": 1509.741903, "fair_value": 1963.372775, "relative_strength": -13.169443, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -62.474547, "energy": 58.330885, "activity_lines": [ 1401.687199, 1425.853696, 1453.65575, 1475.212548 ] }, { "date": "2023-10-20", "close": 1336.476929, "volume": 558979, "typical_volume": 701144.75, "trend": 1499.199886, "fair_value": 1959.490175, "relative_strength": -14.085135, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -72.491131, "energy": 64.752681, "activity_lines": [ 1376.667741, 1406.145441, 1441.112759, 1464.034162 ] }, { "date": "2023-10-27", "close": 1360.431763, "volume": 761377, "typical_volume": 695575.65, "trend": 1491.552226, "fair_value": 1956.419408, "relative_strength": -10.803594, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -63.530751, "energy": 58.096729, "activity_lines": [ 1367.950871, 1394.36768, 1432.120214, 1455.08138 ] }, { "date": "2023-11-03", "close": 1482.201782, "volume": 682401, "typical_volume": 651699.5, "trend": 1489.760022, "fair_value": 1954.225083, "relative_strength": -4.167639, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -45.03129, "energy": 28.279657, "activity_lines": [ 1402.884896, 1406.236168, 1435.490036, 1454.478126 ] }, { "date": "2023-11-10", "close": 1498.171631, "volume": 532601, "typical_volume": 635697.7, "trend": 1487.768258, "fair_value": 1950.893265, "relative_strength": -2.012562, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -22.615553, "energy": 11.438826, "activity_lines": [ 1437.818929, 1420.264218, 1440.223949, 1455.02081 ] }, { "date": "2023-11-17", "close": 1518.134033, "volume": 754043, "typical_volume": 630544.75, "trend": 1483.148401, "fair_value": 1947.472116, "relative_strength": -2.307012, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -10.029196, "energy": 16.699962, "activity_lines": [ 1472.486833, 1437.994385, 1446.084316, 1456.979893 ] }, { "date": "2023-11-24", "close": 1512.145386, "volume": 256726, "typical_volume": 586394.5, "trend": 1477.796639, "fair_value": 1944.191528, "relative_strength": -2.116362, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "mixed", "direction": 18.239161, "energy": 26.325219, "activity_lines": [ 1496.840885, 1453.78277, 1450.761207, 1458.850666 ] }, { "date": "2023-12-01", "close": 1460.243286, "volume": 526488, "typical_volume": 579171.45, "trend": 1471.114026, "fair_value": 1940.118076, "relative_strength": -5.60488, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "mixed", "direction": 14.16486, "energy": 21.425907, "activity_lines": [ 1492.183008, 1459.208887, 1450.371465, 1457.718191 ] }, { "date": "2023-12-08", "close": 1472.220703, "volume": 699875, "typical_volume": 590285.1, "trend": 1469.621204, "fair_value": 1935.91689, "relative_strength": -4.950077, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 13.479805, "energy": 16.537196, "activity_lines": [ 1484.863501, 1465.832748, 1451.288782, 1457.78959 ] }, { "date": "2023-12-15", "close": 1518.134033, "volume": 525689, "typical_volume": 589562.75, "trend": 1469.126538, "fair_value": 1931.038584, "relative_strength": -2.143545, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 20.166221, "energy": 18.161999, "activity_lines": [ 1493.513843, 1479.53416, 1456.997055, 1460.91945 ] }, { "date": "2023-12-22", "close": 1545.083252, "volume": 506977, "typical_volume": 574425.25, "trend": 1468.893648, "fair_value": 1925.98791, "relative_strength": -1.843272, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 24.278323, "energy": 19.085132, "activity_lines": [ 1509.816431, 1495.885132, 1465.371731, 1465.819883 ] }, { "date": "2023-12-29", "close": 1519.132202, "volume": 111835, "typical_volume": 567639.55, "trend": 1466.098922, "fair_value": 1920.732538, "relative_strength": -3.780045, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 53.440573, "energy": 33.580188, "activity_lines": [ 1515.672054, 1504.759299, 1471.232102, 1469.06108 ] }, { "date": "2024-01-05", "close": 1496.175537, "volume": 356046, "typical_volume": 565453.05, "trend": 1465.267163, "fair_value": 1914.67812, "relative_strength": -4.474574, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 51.108865, "energy": 35.60472, "activity_lines": [ 1513.409668, 1506.138523, 1474.972665, 1471.001507 ] }, { "date": "2024-01-12", "close": 1412.333862, "volume": 391702, "typical_volume": 569709.7, "trend": 1464.036161, "fair_value": 1908.36746, "relative_strength": -8.760185, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 19.935381, "energy": 10.591771, "activity_lines": [ 1480.804573, 1489.805737, 1470.4764, 1467.586455 ] }, { "date": "2024-01-19", "close": 1354.442993, "volume": 547334, "typical_volume": 576677.65, "trend": 1464.668298, "fair_value": 1901.58345, "relative_strength": -10.21538, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -41.875205, "energy": 27.241708, "activity_lines": [ 1432.894979, 1464.217665, 1460.604554, 1460.515928 ] }, { "date": "2024-01-26", "close": 1389.848755, "volume": 862577, "typical_volume": 539253.35, "trend": 1464.684017, "fair_value": 1895.509249, "relative_strength": -9.532882, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -54.248726, "energy": 38.736142, "activity_lines": [ 1407.700041, 1447.680251, 1454.808119, 1455.688861 ] }, { "date": "2024-02-02", "close": 1351.907471, "volume": 1172902, "typical_volume": 548303.2, "trend": 1460.207788, "fair_value": 1889.447529, "relative_strength": -11.245182, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -64.718104, "energy": 59.777142, "activity_lines": [ 1380.206974, 1426.576882, 1445.785723, 1448.412955 ] }, { "date": "2024-02-09", "close": 1352.905762, "volume": 1725657, "typical_volume": 609696.8, "trend": 1455.465401, "fair_value": 1883.45613, "relative_strength": -10.169104, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -61.539832, "energy": 60.916936, "activity_lines": [ 1364.194987, 1408.568437, 1437.379041, 1441.490243 ] }, { "date": "2024-02-16", "close": 1347.913574, "volume": 860133, "typical_volume": 630441.8, "trend": 1448.394031, "fair_value": 1878.071957, "relative_strength": -11.620344, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -61.886967, "energy": 58.081697, "activity_lines": [ 1356.070256, 1391.603913, 1428.751385, 1434.551416 ] }, { "date": "2024-02-23", "close": 1280.018677, "volume": 554806, "typical_volume": 640252.5, "trend": 1439.758171, "fair_value": 1872.751157, "relative_strength": -15.549551, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -72.478065, "energy": 62.178806, "activity_lines": [ 1329.608578, 1364.554992, 1413.916782, 1423.68849 ] }, { "date": "2024-03-01", "close": 1294.995483, "volume": 915655, "typical_volume": 665190.15, "trend": 1431.721346, "fair_value": 1867.245103, "relative_strength": -13.865496, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -66.020824, "energy": 54.628476, "activity_lines": [ 1313.100789, 1344.558496, 1401.05306, 1414.348961 ] }, { "date": "2024-03-08", "close": 1297.990845, "volume": 919643, "typical_volume": 683223.35, "trend": 1423.884184, "fair_value": 1861.822173, "relative_strength": -12.959367, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -63.620468, "energy": 56.5979, "activity_lines": [ 1303.915007, 1329.653662, 1388.943059, 1405.721187 ] }, { "date": "2024-03-15", "close": 1250.064941, "volume": 692763, "typical_volume": 679792.65, "trend": 1417.44384, "fair_value": 1856.6929, "relative_strength": -16.396351, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -71.563792, "energy": 65.237674, "activity_lines": [ 1282.348364, 1310.055779, 1372.451954, 1394.507043 ] }, { "date": "2024-03-22", "close": 1278.021729, "volume": 562934, "typical_volume": 673819.3, "trend": 1412.001925, "fair_value": 1851.397653, "relative_strength": -16.203172, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -61.217316, "energy": 55.726384, "activity_lines": [ 1276.956706, 1300.015687, 1359.148955, 1385.512068 ] }, { "date": "2024-03-29", "close": 1296.992432, "volume": 718364, "typical_volume": 683107.45, "trend": 1405.16287, "fair_value": 1845.341879, "relative_strength": -14.805992, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -58.022584, "energy": 42.517421, "activity_lines": [ 1282.548071, 1295.866852, 1348.624977, 1378.0921 ] }, { "date": "2024-04-05", "close": 1293.996948, "volume": 644031, "typical_volume": 677606.85, "trend": 1399.255351, "fair_value": 1838.768306, "relative_strength": -14.257874, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -55.15005, "energy": 37.873951, "activity_lines": [ 1286.009359, 1292.21794, 1338.77371, 1370.920105 ] }, { "date": "2024-04-12", "close": 1288.006348, "volume": 754090, "typical_volume": 702475.05, "trend": 1393.480843, "fair_value": 1832.054058, "relative_strength": -15.241096, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -51.74882, "energy": 32.887415, "activity_lines": [ 1287.540348, 1289.222588, 1329.41923, 1363.74275 ] }, { "date": "2024-04-19", "close": 1270.03418, "volume": 409074, "typical_volume": 696604.35, "trend": 1388.937146, "fair_value": 1825.173465, "relative_strength": -14.951173, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -54.628709, "energy": 32.762401, "activity_lines": [ 1283.746249, 1284.121407, 1319.420443, 1355.77845 ] }, { "date": "2024-04-26", "close": 1244.074341, "volume": 437339, "typical_volume": 683477.55, "trend": 1383.661202, "fair_value": 1818.139245, "relative_strength": -18.692429, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -59.182883, "energy": 37.117144, "activity_lines": [ 1269.967586, 1275.807011, 1307.855048, 1346.432462 ] }, { "date": "2024-05-03", "close": 1272.031006, "volume": 768322, "typical_volume": 695609.2, "trend": 1379.583313, "fair_value": 1811.181962, "relative_strength": -17.11408, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -51.577368, "energy": 34.172592, "activity_lines": [ 1267.770972, 1274.463632, 1300.038604, 1339.230514 ] }, { "date": "2024-05-10", "close": 1282.015503, "volume": 550029, "typical_volume": 697761.8, "trend": 1375.871513, "fair_value": 1803.854006, "relative_strength": -18.278688, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -52.286162, "energy": 37.62289, "activity_lines": [ 1270.566618, 1275.080846, 1294.344984, 1332.935817 ] }, { "date": "2024-05-17", "close": 1299.987793, "volume": 867725, "typical_volume": 735556.3, "trend": 1374.655208, "fair_value": 1796.845808, "relative_strength": -16.62749, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -39.111021, "energy": 25.37438, "activity_lines": [ 1280.15179, 1279.201749, 1291.615713, 1328.040093 ] }, { "date": "2024-05-24", "close": 1293.996948, "volume": 888895, "typical_volume": 762198.75, "trend": 1372.440715, "fair_value": 1789.696932, "relative_strength": -15.566853, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -35.559526, "energy": 19.131187, "activity_lines": [ 1286.941252, 1282.197099, 1289.359431, 1322.836334 ] }, { "date": "2024-05-31", "close": 1286.146484, "volume": 595238, "typical_volume": 772375.55, "trend": 1365.905538, "fair_value": 1781.729792, "relative_strength": -15.161519, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -32.396414, "energy": 15.900843, "activity_lines": [ 1289.516374, 1282.966329, 1287.318241, 1317.268964 ] }, { "date": "2024-06-07", "close": 1262.181152, "volume": 742792, "typical_volume": 782148.45, "trend": 1358.039189, "fair_value": 1773.68574, "relative_strength": -16.015658, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -38.739978, "energy": 19.150566, "activity_lines": [ 1281.298242, 1279.230502, 1283.595531, 1310.577068 ] }, { "date": "2024-06-14", "close": 1124.379639, "volume": 639709, "typical_volume": 771005.05, "trend": 1344.914042, "fair_value": 1765.052407, "relative_strength": -23.865681, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -75.275522, "energy": 52.891505, "activity_lines": [ 1227.80293, 1251.072787, 1267.188209, 1295.502259 ] }, { "date": "2024-06-21", "close": 1158.330688, "volume": 785731, "typical_volume": 751646.5, "trend": 1333.120219, "fair_value": 1756.35543, "relative_strength": -22.114361, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -67.936681, "energy": 64.986089, "activity_lines": [ 1196.133691, 1232.171941, 1255.278459, 1283.464623 ] }, { "date": "2024-06-28", "close": 1144.350952, "volume": 442710, "typical_volume": 687499.15, "trend": 1322.590474, "fair_value": 1747.095787, "relative_strength": -21.992522, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -68.24464, "energy": 72.086716, "activity_lines": [ 1169.248348, 1213.087065, 1242.9591, 1271.285961 ] }, { "date": "2024-07-05", "close": 1178.302002, "volume": 624884, "typical_volume": 675736.7, "trend": 1312.793184, "fair_value": 1737.759718, "relative_strength": -19.541097, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -60.778877, "energy": 67.929925, "activity_lines": [ 1163.656421, 1202.460256, 1234.866292, 1261.977027 ] }, { "date": "2024-07-12", "close": 1144.350952, "volume": 422579, "typical_volume": 669125.35, "trend": 1300.333748, "fair_value": 1728.193228, "relative_strength": -21.797221, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -63.435975, "energy": 58.107246, "activity_lines": [ 1153.937109, 1186.85639, 1224.347725, 1251.109786 ] }, { "date": "2024-07-19", "close": 1098.417114, "volume": 472058, "typical_volume": 646945.5, "trend": 1285.444877, "fair_value": 1718.383433, "relative_strength": -23.469879, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -70.696473, "energy": 52.748778, "activity_lines": [ 1136.761865, 1165.222372, 1210.100544, 1238.082906 ] }, { "date": "2024-07-26", "close": 1098.417114, "volume": 658416, "typical_volume": 633884.15, "trend": 1271.421041, "fair_value": 1708.484142, "relative_strength": -24.111159, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -67.188352, "energy": 48.739657, "activity_lines": [ 1121.317456, 1146.926507, 1196.78945, 1226.016599 ] }, { "date": "2024-08-02", "close": 1050.486084, "volume": 746328, "typical_volume": 636562.4, "trend": 1256.564726, "fair_value": 1698.431022, "relative_strength": -25.828339, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -74.638027, "energy": 65.495057, "activity_lines": [ 1093.890275, 1123.58083, 1179.863847, 1211.762731 ] }, { "date": "2024-08-09", "close": 1038.503418, "volume": 1226929, "typical_volume": 669762.15, "trend": 1244.103711, "fair_value": 1687.994244, "relative_strength": -25.98572, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -71.905101, "energy": 69.491647, "activity_lines": [ 1068.72653, 1102.483958, 1162.747414, 1197.694259 ] }, { "date": "2024-08-16", "close": 998.560974, "volume": 596543, "typical_volume": 663671.1, "trend": 1232.240977, "fair_value": 1677.582699, "relative_strength": -29.43865, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -77.75797, "energy": 79.220505, "activity_lines": [ 1039.568542, 1078.627424, 1142.967501, 1181.852793 ] }, { "date": "2024-08-23", "close": 1026.520752, "volume": 733882, "typical_volume": 668163.65, "trend": 1220.130044, "fair_value": 1667.503809, "relative_strength": -27.00282, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -67.472806, "energy": 75.404652, "activity_lines": [ 1029.449813, 1064.64758, 1127.271527, 1168.58052 ] }, { "date": "2024-08-30", "close": 1028.517822, "volume": 743519, "typical_volume": 667635.1, "trend": 1209.350389, "fair_value": 1657.233155, "relative_strength": -26.631348, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -64.739397, "energy": 68.749299, "activity_lines": [ 1024.789864, 1052.810092, 1113.039446, 1156.218441 ] }, { "date": "2024-09-06", "close": 955.622925, "volume": 643371, "typical_volume": 679349.95, "trend": 1196.107627, "fair_value": 1646.789288, "relative_strength": -29.558666, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -77.722948, "energy": 73.65783, "activity_lines": [ 1000.491569, 1030.07922, 1093.100654, 1139.848927 ] }, { "date": "2024-09-13", "close": 954.624329, "volume": 645269, "typical_volume": 689746.45, "trend": 1182.997986, "fair_value": 1637.029421, "relative_strength": -29.808148, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -74.711229, "energy": 75.670961, "activity_lines": [ 982.184619, 1010.598204, 1074.563953, 1124.26936 ] }, { "date": "2024-09-20", "close": 920.673279, "volume": 1177445, "typical_volume": 710202.6, "trend": 1171.019806, "fair_value": 1626.847358, "relative_strength": -31.378787, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -78.671369, "energy": 82.686651, "activity_lines": [ 958.152592, 989.011137, 1054.172153, 1107.345185 ] }, { "date": "2024-09-27", "close": 980.586914, "volume": 619435, "typical_volume": 713672.9, "trend": 1160.53952, "fair_value": 1617.842037, "relative_strength": -27.139396, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -64.570945, "energy": 71.941128, "activity_lines": [ 959.28429, 982.384325, 1041.159545, 1095.059192 ] }, { "date": "2024-10-04", "close": 937.648804, "volume": 816947, "typical_volume": 711134.0, "trend": 1148.528119, "fair_value": 1608.996172, "relative_strength": -29.380209, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -68.470734, "energy": 71.456089, "activity_lines": [ 949.16554, 970.092951, 1025.492968, 1080.679146 ] }, { "date": "2024-10-11", "close": 906.69342, "volume": 1512121, "typical_volume": 742295.3, "trend": 1137.082402, "fair_value": 1599.696172, "relative_strength": -30.879818, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -75.826638, "energy": 65.977388, "activity_lines": [ 934.786263, 955.096386, 1008.603682, 1065.076907 ] }, { "date": "2024-10-18", "close": 884.725098, "volume": 693896, "typical_volume": 747228.2, "trend": 1123.972514, "fair_value": 1590.485481, "relative_strength": -32.791059, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -77.336362, "energy": 65.689685, "activity_lines": [ 916.346179, 938.719992, 991.466478, 1048.795791 ] }, { "date": "2024-10-25", "close": 858.762451, "volume": 637165, "typical_volume": 741946.85, "trend": 1109.364848, "fair_value": 1581.36407, "relative_strength": -33.224872, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -79.757414, "energy": 81.37587, "activity_lines": [ 893.911829, 920.419086, 973.768171, 1031.685464 ] }, { "date": "2024-11-01", "close": 879.732239, "volume": 1201588, "typical_volume": 770040.8, "trend": 1095.556024, "fair_value": 1572.057444, "relative_strength": -30.201252, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -67.592983, "energy": 73.245271, "activity_lines": [ 882.594796, 908.472661, 959.988029, 1016.870457 ] }, { "date": "2024-11-08", "close": 845.78125, "volume": 785733, "typical_volume": 770040.9, "trend": 1080.815188, "fair_value": 1562.456476, "relative_strength": -31.175667, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -76.156323, "energy": 76.166217, "activity_lines": [ 866.684412, 893.02221, 944.139446, 1000.755956 ] }, { "date": "2024-11-15", "close": 857.763916, "volume": 455969, "typical_volume": 770703.85, "trend": 1067.072845, "fair_value": 1552.996246, "relative_strength": -29.267295, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -68.679809, "energy": 63.632285, "activity_lines": [ 860.892753, 883.072909, 930.920401, 986.365551 ] }, { "date": "2024-11-22", "close": 876.736633, "volume": 1054207, "typical_volume": 792170.0, "trend": 1054.828255, "fair_value": 1543.900557, "relative_strength": -28.564437, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -64.545431, "energy": 57.439738, "activity_lines": [ 864.687301, 878.352448, 920.872981, 974.085795 ] }, { "date": "2024-11-29", "close": 861.758179, "volume": 1275093, "typical_volume": 834795.7, "trend": 1041.152494, "fair_value": 1534.376434, "relative_strength": -29.173583, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -64.211653, "energy": 53.599487, "activity_lines": [ 864.021594, 872.324771, 910.835067, 961.629662 ] }, { "date": "2024-12-06", "close": 1094.422729, "volume": 2562598, "typical_volume": 939322.7, "trend": 1034.899402, "fair_value": 1525.551068, "relative_strength": -9.53347, "stage": 1, "regime": "rotation_up", "modifier": "Structural repair", "gate": "down", "direction": -7.057969, "energy": 12.938136, "activity_lines": [ 940.711023, 909.670924, 924.301361, 965.066451 ] }, { "date": "2024-12-13", "close": 1140.356689, "volume": 2248122, "typical_volume": 1018808.0, "trend": 1029.578365, "fair_value": 1517.633842, "relative_strength": -4.850657, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "down", "direction": 22.122327, "energy": 35.107506, "activity_lines": [ 1018.399072, 953.298963, 942.16134, 971.870147 ] }, { "date": "2024-12-20", "close": 1054.480469, "volume": 2261273, "typical_volume": 1094555.25, "trend": 1021.594482, "fair_value": 1509.191697, "relative_strength": -8.814883, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 23.08807, "energy": 40.050244, "activity_lines": [ 1047.823352, 977.627547, 951.642918, 973.476734 ] }, { "date": "2024-12-27", "close": 1062.468994, "volume": 267964, "typical_volume": 1046607.0, "trend": 1014.138566, "fair_value": 1500.378848, "relative_strength": -8.042206, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 24.928093, "energy": 43.908024, "activity_lines": [ 1066.796037, 1000.721552, 961.866288, 976.113799 ] }, { "date": "2025-01-03", "close": 1046.491943, "volume": 426968, "typical_volume": 1038128.25, "trend": 1006.948926, "fair_value": 1491.565861, "relative_strength": -9.414994, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 24.399049, "energy": 57.798873, "activity_lines": [ 1068.06088, 1017.678932, 970.453911, 978.201114 ] }, { "date": "2025-01-10", "close": 1006.5495, "volume": 604963, "typical_volume": 1031682.3, "trend": 1003.021254, "fair_value": 1483.327872, "relative_strength": -12.373098, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 20.520442, "energy": 27.637277, "activity_lines": [ 1043.695992, 1023.960785, 975.00925, 978.175345 ] }, { "date": "2025-01-17", "close": 1060.471802, "volume": 880171, "typical_volume": 1038514.9, "trend": 999.759292, "fair_value": 1476.164298, "relative_strength": -9.756989, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 33.321216, "energy": 27.931797, "activity_lines": [ 1043.16342, 1037.740926, 984.795148, 981.881832 ] }, { "date": "2025-01-24", "close": 994.99823, "volume": 1871581, "typical_volume": 1099925.4, "trend": 994.780867, "fair_value": 1469.495713, "relative_strength": -14.527333, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": 12.793817, "energy": 13.024206, "activity_lines": [ 1026.131983, 1035.713316, 988.193305, 981.574666 ] }, { "date": "2025-01-31", "close": 991.002258, "volume": 731365, "typical_volume": 1104230.2, "trend": 988.537543, "fair_value": 1463.14687, "relative_strength": -15.806518, "stage": 4, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": 7.700154, "energy": 10.147841, "activity_lines": [ 1011.734037, 1030.463996, 991.023392, 981.330885 ] }, { "date": "2025-02-07", "close": 961.03241, "volume": 592415, "typical_volume": 1074978.7, "trend": 982.426925, "fair_value": 1456.452421, "relative_strength": -17.806965, "stage": 4, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -3.145876, "energy": 9.316849, "activity_lines": [ 992.110592, 1017.688056, 990.82598, 979.55636 ] }, { "date": "2025-02-14", "close": 968.02533, "volume": 447596, "typical_volume": 1066386.75, "trend": 978.080532, "fair_value": 1450.416763, "relative_strength": -16.750622, "stage": 4, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 20.002661, "energy": 18.521712, "activity_lines": [ 980.515422, 1004.37857, 991.102373, 978.627225 ] }, { "date": "2025-02-21", "close": 937.05658, "volume": 458860, "typical_volume": 1048482.4, "trend": 972.701847, "fair_value": 1444.182588, "relative_strength": -18.048501, "stage": 4, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -16.878178, "energy": 19.659104, "activity_lines": [ 961.165613, 987.736537, 988.489179, 975.980519 ] }, { "date": "2025-02-28", "close": 923.070618, "volume": 1001045, "typical_volume": 1022928.6, "trend": 968.454665, "fair_value": 1438.536682, "relative_strength": -19.904893, "stage": 4, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -22.114689, "energy": 24.144849, "activity_lines": [ 945.381499, 972.247967, 984.546809, 972.778504 ] }, { "date": "2025-03-07", "close": 1046.945923, "volume": 1393266, "typical_volume": 1057897.1, "trend": 968.736082, "fair_value": 1433.217977, "relative_strength": -7.130945, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 26.058356, "energy": 16.51878, "activity_lines": [ 975.684326, 981.67145, 992.3241, 977.842456 ] }, { "date": "2025-03-14", "close": 971.0224, "volume": 491346, "typical_volume": 1050606.15, "trend": 967.81813, "fair_value": 1427.009668, "relative_strength": -12.754102, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 7.427284, "energy": 7.406883, "activity_lines": [ 976.949736, 977.572894, 992.0981, 977.98996 ] }, { "date": "2025-03-21", "close": 948.045532, "volume": 637597, "typical_volume": 1022406.6, "trend": 965.202289, "fair_value": 1421.184896, "relative_strength": -14.30308, "stage": 4, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 1.926049, "energy": 3.778511, "activity_lines": [ 969.89019, 970.668899, 989.149255, 976.714309 ] }, { "date": "2025-03-28", "close": 902.091736, "volume": 1024779, "typical_volume": 1034358.9, "trend": 960.988086, "fair_value": 1415.314972, "relative_strength": -17.843477, "stage": 4, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -25.602478, "energy": 14.362279, "activity_lines": [ 948.844698, 956.473377, 981.498556, 972.64266 ] }, { "date": "2025-04-04", "close": 787.207397, "volume": 892593, "typical_volume": 1056190.1, "trend": 955.374235, "fair_value": 1408.90687, "relative_strength": -22.154125, "stage": 4, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -45.61391, "energy": 56.328866, "activity_lines": [ 891.835417, 924.26943, 962.638347, 961.431003 ] }, { "date": "2025-04-11", "close": 764.230591, "volume": 1559711, "typical_volume": 1081465.3, "trend": 949.027777, "fair_value": 1402.485787, "relative_strength": -22.794378, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -53.448867, "energy": 69.903868, "activity_lines": [ 836.224748, 891.665898, 941.925854, 949.099155 ] }, { "date": "2025-04-18", "close": 809.185303, "volume": 348617, "typical_volume": 1035141.5, "trend": 945.311511, "fair_value": 1396.192987, "relative_strength": -20.554603, "stage": 4, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -68.163542, "energy": 78.280277, "activity_lines": [ 814.446672, 871.359071, 926.030505, 940.07706 ] }, { "date": "2025-04-25", "close": 837.157104, "volume": 302559, "typical_volume": 922139.55, "trend": 940.530518, "fair_value": 1389.868442, "relative_strength": -18.492256, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -65.233097, "energy": 76.673236, "activity_lines": [ 812.781669, 858.898882, 913.049484, 933.099356 ] }, { "date": "2025-05-02", "close": 862.132019, "volume": 337207, "typical_volume": 826593.8, "trend": 938.013291, "fair_value": 1383.895859, "relative_strength": -17.116186, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -61.22784, "energy": 62.591318, "activity_lines": [ 826.8342, 853.35901, 903.672101, 928.041389 ] }, { "date": "2025-05-09", "close": 904.089783, "volume": 415467, "typical_volume": 734303.5, "trend": 937.926504, "fair_value": 1378.8062, "relative_strength": -12.011937, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -43.950065, "energy": 29.432003, "activity_lines": [ 857.536633, 856.810086, 899.615575, 925.852775 ] }, { "date": "2025-05-16", "close": 819.175232, "volume": 1122551, "typical_volume": 777032.85, "trend": 935.741508, "fair_value": 1373.057098, "relative_strength": -20.705019, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -49.215858, "energy": 28.584539, "activity_lines": [ 852.142057, 845.16726, 888.188095, 918.191403 ] }, { "date": "2025-05-23", "close": 781.213501, "volume": 2112481, "typical_volume": 861308.5, "trend": 933.156543, "fair_value": 1366.980641, "relative_strength": -23.857386, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -65.445532, "energy": 36.789885, "activity_lines": [ 830.430595, 830.763585, 874.303754, 908.221854 ] }, { "date": "2025-05-30", "close": 785.344421, "volume": 3990279, "typical_volume": 1030574.3, "trend": 930.010282, "fair_value": 1360.809139, "relative_strength": -23.101433, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -62.241307, "energy": 40.252209, "activity_lines": [ 811.960893, 820.562058, 862.076064, 898.685588 ] }, { "date": "2025-06-06", "close": 781.347778, "volume": 748051, "typical_volume": 1023968.3, "trend": 927.8625, "fair_value": 1355.072529, "relative_strength": -23.239814, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -64.429647, "energy": 62.377867, "activity_lines": [ 795.613155, 812.592071, 850.5211, 889.094459 ] }, { "date": "2025-06-13", "close": 775.352722, "volume": 1052860, "typical_volume": 983032.25, "trend": 925.11546, "fair_value": 1349.534141, "relative_strength": -23.292441, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -64.492691, "energy": 66.394202, "activity_lines": [ 782.652681, 805.727418, 839.724339, 879.255118 ] }, { "date": "2025-06-20", "close": 742.38031, "volume": 956756, "typical_volume": 994301.8, "trend": 920.636916, "fair_value": 1343.291901, "relative_strength": -25.213876, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -71.570696, "energy": 69.418895, "activity_lines": [ 767.283874, 793.083321, 826.83328, 867.465754 ] }, { "date": "2025-06-27", "close": 793.337708, "volume": 2776046, "typical_volume": 1103483.35, "trend": 918.356234, "fair_value": 1337.197223, "relative_strength": -19.617034, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -60.50258, "energy": 55.048659, "activity_lines": [ 774.020528, 790.101483, 819.97922, 859.252901 ] }, { "date": "2025-07-04", "close": 780.348572, "volume": 934960, "typical_volume": 1127851.55, "trend": 907.887095, "fair_value": 1330.373286, "relative_strength": -20.395086, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -58.627233, "energy": 44.207523, "activity_lines": [ 775.61919, 785.046122, 812.686646, 850.349181 ] }, { "date": "2025-07-11", "close": 720.398621, "volume": 1509951, "typical_volume": 1180406.1, "trend": 893.888493, "fair_value": 1323.38252, "relative_strength": -26.74569, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -73.121441, "energy": 51.625553, "activity_lines": [ 757.567591, 770.123652, 800.578252, 838.253151 ] }, { "date": "2025-07-18", "close": 698.416931, "volume": 977497, "typical_volume": 1179228.7, "trend": 882.019708, "fair_value": 1316.014192, "relative_strength": -28.672725, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -74.227011, "energy": 55.903828, "activity_lines": [ 736.252039, 753.781482, 787.408068, 825.642082 ] }, { "date": "2025-07-25", "close": 715.402771, "volume": 879130, "typical_volume": 1153521.9, "trend": 870.450834, "fair_value": 1308.268653, "relative_strength": -27.269782, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -66.042039, "energy": 63.658782, "activity_lines": [ 725.727486, 744.267153, 776.925362, 814.892602 ] }, { "date": "2025-08-01", "close": 689.4245, "volume": 779640, "typical_volume": 1167936.6, "trend": 858.548586, "fair_value": 1300.785118, "relative_strength": -28.845388, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -70.582604, "energy": 72.095465, "activity_lines": [ 708.342013, 731.916274, 765.547312, 803.213484 ] }, { "date": "2025-08-08", "close": 689.4245, "volume": 478455, "typical_volume": 1159979.5, "trend": 847.977753, "fair_value": 1293.148079, "relative_strength": -28.395653, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -68.619762, "energy": 73.546309, "activity_lines": [ 697.884086, 721.234286, 755.510205, 792.302253 ] }, { "date": "2025-08-15", "close": 695.419495, "volume": 379891, "typical_volume": 1127735.1, "trend": 835.809343, "fair_value": 1285.619826, "relative_strength": -27.534528, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -66.031382, "energy": 69.910562, "activity_lines": [ 695.486097, 713.386296, 747.275579, 782.459785 ] }, { "date": "2025-08-22", "close": 705.411133, "volume": 402813, "typical_volume": 1103246.1, "trend": 826.156439, "fair_value": 1278.865575, "relative_strength": -27.298922, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -63.818037, "energy": 60.120257, "activity_lines": [ 698.083928, 708.9173, 740.97669, 774.046997 ] }, { "date": "2025-08-29", "close": 713.40448, "volume": 529837, "typical_volume": 1051752.4, "trend": 816.90318, "fair_value": 1272.303276, "relative_strength": -24.774672, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -60.030398, "energy": 47.043797, "activity_lines": [ 702.879928, 707.173305, 735.828579, 766.772677 ] }, { "date": "2025-09-05", "close": 717.401123, "volume": 1570105, "typical_volume": 1112826.8, "trend": 808.782137, "fair_value": 1265.536343, "relative_strength": -23.974064, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -46.337523, "energy": 35.506259, "activity_lines": [ 709.141362, 706.682805, 731.303129, 760.353189 ] }, { "date": "2025-09-12", "close": 730.390259, "volume": 1360856, "typical_volume": 1165741.65, "trend": 800.860968, "fair_value": 1259.530644, "relative_strength": -22.691123, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -41.003507, "energy": 27.504516, "activity_lines": [ 717.867399, 709.934632, 728.451807, 755.295649 ] }, { "date": "2025-09-19", "close": 723.396118, "volume": 1547690, "typical_volume": 1226265.8, "trend": 793.738953, "fair_value": 1253.684784, "relative_strength": -22.3886, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -36.524779, "energy": 21.814882, "activity_lines": [ 721.531006, 712.823129, 725.442791, 750.297916 ] }, { "date": "2025-09-26", "close": 686.427002, "volume": 1193140, "typical_volume": 1265149.45, "trend": 785.850832, "fair_value": 1247.403666, "relative_strength": -26.279408, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -49.752211, "energy": 29.008861, "activity_lines": [ 711.006466, 708.935469, 719.573553, 743.374565 ] }, { "date": "2025-10-03", "close": 708.40863, "volume": 2245730, "typical_volume": 1321308.4, "trend": 774.566256, "fair_value": 1241.25706, "relative_strength": -25.018954, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -48.275072, "energy": 27.944951, "activity_lines": [ 709.074744, 709.262468, 716.834293, 738.378294 ] }, { "date": "2025-10-10", "close": 654.453674, "volume": 1239811, "typical_volume": 1277674.9, "trend": 764.013965, "fair_value": 1235.295457, "relative_strength": -29.711952, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -73.371935, "energy": 47.771589, "activity_lines": [ 689.491093, 699.906641, 709.483926, 730.629095 ] }, { "date": "2025-10-17", "close": 643.46283, "volume": 1466922, "typical_volume": 1151507.05, "trend": 753.861208, "fair_value": 1229.026749, "relative_strength": -29.847526, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -75.298183, "energy": 70.901468, "activity_lines": [ 670.440324, 689.188311, 701.69043, 722.851602 ] }, { "date": "2025-10-24", "close": 673.437805, "volume": 1988621, "typical_volume": 1213535.55, "trend": 746.23941, "fair_value": 1222.630389, "relative_strength": -28.31248, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -59.882859, "energy": 62.88726, "activity_lines": [ 667.176375, 684.755644, 697.42732, 717.662996 ] }, { "date": "2025-10-31", "close": 646.460327, "volume": 834720, "typical_volume": 1202628.55, "trend": 741.547841, "fair_value": 1215.7349, "relative_strength": -31.133705, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -69.562277, "energy": 72.227437, "activity_lines": [ 658.250488, 675.817648, 691.108784, 711.225635 ] }, { "date": "2025-11-07", "close": 626.477051, "volume": 2128794, "typical_volume": 1261230.45, "trend": 736.956057, "fair_value": 1208.276386, "relative_strength": -32.484722, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -73.420751, "energy": 69.923648, "activity_lines": [ 645.327954, 664.318162, 683.500852, 703.801713 ] }, { "date": "2025-11-14", "close": 621.481201, "volume": 760946, "typical_volume": 1160475.45, "trend": 730.699253, "fair_value": 1201.105647, "relative_strength": -32.559866, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -70.801046, "energy": 59.330546, "activity_lines": [ 636.202242, 653.490838, 675.969044, 696.351723 ] }, { "date": "2025-11-21", "close": 595.502869, "volume": 733660, "typical_volume": 1150410.45, "trend": 722.644112, "fair_value": 1193.295078, "relative_strength": -33.71777, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -76.941551, "energy": 71.106856, "activity_lines": [ 620.615251, 639.68418, 666.781475, 687.629375 ] }, { "date": "2025-11-28", "close": 631.472839, "volume": 921433, "typical_volume": 1120984.55, "trend": 714.955473, "fair_value": 1185.811024, "relative_strength": -30.467404, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -61.93806, "energy": 55.09197, "activity_lines": [ 620.21558, 634.870014, 661.899834, 681.747358 ] }, { "date": "2025-12-05", "close": 669.441162, "volume": 2630860, "typical_volume": 1203652.7, "trend": 707.133852, "fair_value": 1179.702447, "relative_strength": -24.913165, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -57.195166, "energy": 40.275878, "activity_lines": [ 635.269682, 638.630512, 661.05768, 678.810951 ] }, { "date": "2025-12-12", "close": 645.461182, "volume": 1122624, "typical_volume": 1215827.4, "trend": 701.343384, "fair_value": 1173.779137, "relative_strength": -26.385731, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -43.333445, "energy": 29.498937, "activity_lines": [ 640.798401, 638.339847, 658.069699, 674.832069 ] }, { "date": "2025-12-19", "close": 653.454529, "volume": 1493458, "typical_volume": 1251518.3, "trend": 697.084751, "fair_value": 1167.676812, "relative_strength": -26.340502, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -36.682612, "energy": 19.139245, "activity_lines": [ 647.72596, 640.647017, 656.176043, 671.742465 ] }, { "date": "2025-12-26", "close": 645.461182, "volume": 713452, "typical_volume": 1263268.15, "trend": 692.421977, "fair_value": 1161.6, "relative_strength": -26.013304, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -33.097171, "energy": 19.612243, "activity_lines": [ 649.857516, 641.519018, 653.692403, 668.411912 ] }, { "date": "2026-01-02", "close": 659.449463, "volume": 552160, "typical_volume": 1271881.6, "trend": 688.3587, "fair_value": 1155.005238, "relative_strength": -24.012389, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -31.140453, "energy": 16.158875, "activity_lines": [ 653.321277, 644.898008, 652.750328, 666.284653 ] }, { "date": "2026-01-09", "close": 692.421997, "volume": 2129870, "typical_volume": 1358234.45, "trend": 685.594342, "fair_value": 1148.366, "relative_strength": -20.641638, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -8.717649, "energy": 11.379787, "activity_lines": [ 665.910775, 654.526338, 655.119781, 666.546802 ] }, { "date": "2026-01-16", "close": 699.416138, "volume": 1543675, "typical_volume": 1408926.35, "trend": 684.162203, "fair_value": 1141.6216, "relative_strength": -19.697222, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": 5.336913, "energy": 16.451155, "activity_lines": [ 679.299597, 664.590664, 658.217195, 667.43853 ] }, { "date": "2026-01-23", "close": 738.383606, "volume": 3031522, "typical_volume": 1481997.2, "trend": 682.3304, "fair_value": 1134.832702, "relative_strength": -13.591404, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 39.602967, "energy": 50.101515, "activity_lines": [ 702.080579, 680.413818, 665.092408, 670.936685 ] }, { "date": "2026-01-30", "close": 655.864563, "volume": 3033766, "typical_volume": 1565642.7, "trend": 678.180933, "fair_value": 1126.875072, "relative_strength": -22.968532, "stage": 1, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 11.482913, "energy": 26.26938, "activity_lines": [ 691.693274, 679.108012, 664.008748, 669.229212 ] }, { "date": "2026-02-06", "close": 671.861267, "volume": 1861675, "typical_volume": 1581341.95, "trend": 676.563021, "fair_value": 1119.186322, "relative_strength": -21.373878, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 12.490338, "energy": 22.632606, "activity_lines": [ 685.944645, 679.613213, 664.803468, 668.821492 ] }, { "date": "2026-02-13", "close": 705.854248, "volume": 1608194, "typical_volume": 1602094.65, "trend": 676.810931, "fair_value": 1111.773054, "relative_strength": -17.164732, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 20.622385, "energy": 17.875372, "activity_lines": [ 690.699556, 685.56462, 669.081019, 670.711248 ] }, { "date": "2026-02-20", "close": 689.857544, "volume": 745868, "typical_volume": 1527101.55, "trend": 675.959424, "fair_value": 1104.954586, "relative_strength": -20.040866, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 19.018888, "energy": 9.947129, "activity_lines": [ 689.22675, 687.945479, 671.742563, 671.552965 ] }, { "date": "2026-02-27", "close": 706.854004, "volume": 1220482, "typical_volume": 1526135.1, "trend": 676.540407, "fair_value": 1098.289854, "relative_strength": -18.978788, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 26.726613, "energy": 17.227574, "activity_lines": [ 694.056669, 692.609397, 676.111157, 673.546164 ] }, { "date": "2026-03-06", "close": 629.869934, "volume": 1244037, "typical_volume": 1514990.85, "trend": 674.555255, "fair_value": 1091.297971, "relative_strength": -22.30038, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -12.306023, "energy": 6.457477, "activity_lines": [ 675.327205, 682.305312, 672.898408, 670.535166 ] }, { "date": "2026-03-13", "close": 612.873413, "volume": 848981, "typical_volume": 1458008.85, "trend": 671.803719, "fair_value": 1084.708947, "relative_strength": -23.235002, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -38.579756, "energy": 24.198183, "activity_lines": [ 652.66521, 669.194428, 668.131672, 666.555692 ] }, { "date": "2026-03-20", "close": 538.888733, "volume": 1333866, "typical_volume": 1482966.15, "trend": 666.252972, "fair_value": 1077.568892, "relative_strength": -29.200468, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -74.643235, "energy": 65.569392, "activity_lines": [ 609.274178, 643.478621, 656.607177, 657.980532 ] }, { "date": "2026-03-27", "close": 565.883118, "volume": 1410854, "typical_volume": 1447069.15, "trend": 661.335594, "fair_value": 1071.004927, "relative_strength": -25.130728, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -66.20192, "energy": 70.53738, "activity_lines": [ 586.012309, 625.462398, 648.165822, 651.505057 ] }, { "date": "2026-04-03", "close": 574.881287, "volume": 618603, "typical_volume": 1439952.0, "trend": 656.584933, "fair_value": 1064.844115, "relative_strength": -26.563366, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -60.601007, "energy": 70.806213, "activity_lines": [ 574.014791, 611.510079, 640.869978, 645.92736 ] }, { "date": "2026-04-10", "close": 619.872009, "volume": 823630, "typical_volume": 1444450.5, "trend": 652.900991, "fair_value": 1058.830958, "relative_strength": -21.286287, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -59.62273, "energy": 63.532225, "activity_lines": [ 585.812362, 608.71066, 638.080869, 643.558784 ] }, { "date": "2026-04-17", "close": 644.866821, "volume": 761828, "typical_volume": 1436470.25, "trend": 650.283348, "fair_value": 1052.344657, "relative_strength": -17.833473, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -49.698676, "energy": 30.406641, "activity_lines": [ 606.608065, 611.110163, 637.556175, 643.040451 ] }, { "date": "2026-04-24", "close": 626.870544, "volume": 859034, "typical_volume": 1347878.95, "trend": 648.298132, "fair_value": 1045.640634, "relative_strength": -17.058992, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -34.954073, "energy": 17.172544, "activity_lines": [ 619.272115, 610.728423, 635.253769, 641.529947 ] }, { "date": "2026-05-01", "close": 615.872803, "volume": 869013, "typical_volume": 1335198.4, "trend": 645.213605, "fair_value": 1038.942884, "relative_strength": -17.504306, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -30.820944, "energy": 19.353384, "activity_lines": [ 622.404797, 609.783162, 632.106676, 639.43799 ] }, { "date": "2026-05-08", "close": 588.878418, "volume": 951529, "typical_volume": 1308101.95, "trend": 643.027763, "fair_value": 1032.993353, "relative_strength": -19.071947, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -40.18058, "energy": 19.487302, "activity_lines": [ 613.206706, 605.275008, 626.529586, 635.803462 ] }, { "date": "2026-05-15", "close": 587.878601, "volume": 1490885, "typical_volume": 1346973.6, "trend": 641.174955, "fair_value": 1026.935049, "relative_strength": -18.098516, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -44.638047, "energy": 25.801256, "activity_lines": [ 602.7422, 602.730079, 621.164781, 632.245452 ] }, { "date": "2026-05-22", "close": 632.869324, "volume": 969968, "typical_volume": 1367864.0, "trend": 639.822673, "fair_value": 1021.042737, "relative_strength": -13.42347, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -34.312389, "energy": 20.823221, "activity_lines": [ 609.407495, 609.128761, 620.359009, 631.709605 ] }, { "date": "2026-05-29", "close": 640.0, "volume": 1007264, "typical_volume": 1311733.7, "trend": 639.607328, "fair_value": 1014.869827, "relative_strength": -11.283597, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -27.084661, "energy": 14.498197, "activity_lines": [ 619.249516, 616.460367, 620.358922, 631.721045 ] }, { "date": "2026-06-05", "close": 608.0, "volume": 247389, "typical_volume": 1246919.4, "trend": 638.991427, "fair_value": 1009.01644, "relative_strength": -14.679759, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -35.064388, "energy": 14.827624, "activity_lines": [ 617.549573, 616.135405, 617.560844, 629.681863 ] }, { "date": "2026-06-12", "close": 620.0, "volume": 232687, "typical_volume": 1106977.65, "trend": 638.942053, "fair_value": 1003.700646, "relative_strength": -13.166637, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -18.899116, "energy": 12.794792, "activity_lines": [ 620.374483, 617.226499, 616.340938, 628.456609 ] }, { "date": "2026-06-19", "close": 609.0, "volume": 239703, "typical_volume": 967274.5, "trend": 639.391958, "fair_value": 999.04373, "relative_strength": -13.182358, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -24.165625, "energy": 11.678077, "activity_lines": [ 617.457955, 615.497253, 614.637145, 626.524864 ] }, { "date": "2026-06-26", "close": 598.0, "volume": 300708, "typical_volume": 889226.15, "trend": 638.276196, "fair_value": 993.970799, "relative_strength": -15.122511, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -50.761413, "energy": 30.40567, "activity_lines": [ 609.466667, 611.965681, 612.108897, 623.854415 ] }, { "date": "2026-07-03", "close": 590.0, "volume": 90990, "typical_volume": 813365.95, "trend": 635.628158, "fair_value": 988.225964, "relative_strength": -16.806802, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -55.826491, "energy": 41.656045, "activity_lines": [ 601.133333, 607.831686, 609.170464, 620.739822 ] }, { "date": "2026-07-10", "close": 677.0, "volume": 1744510, "typical_volume": 863298.05, "trend": 636.679452, "fair_value": 982.981237, "relative_strength": -2.432702, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": 2.384586, "energy": 3.194876, "activity_lines": [ 625.133333, 620.186247, 615.069433, 623.408973 ] }, { "date": "2026-07-17", "close": 710.0, "volume": 1213790, "typical_volume": 862963.45, "trend": 638.564301, "fair_value": 977.532169, "relative_strength": 1.644119, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 34.84739, "energy": 44.752626, "activity_lines": [ 655.533333, 637.429405, 624.172485, 628.139331 ] }, { "date": "2026-07-24", "close": 748.0, "volume": 1216196, "typical_volume": 861571.4, "trend": 641.982261, "fair_value": 972.46105, "relative_strength": 6.00104, "stage": 1, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 52.889146, "energy": 69.107052, "activity_lines": [ 692.6, 659.379442, 636.879604, 635.199699 ] }, { "date": "2026-07-31", "close": 783.0, "volume": 1857844, "typical_volume": 912014.55, "trend": 646.100612, "fair_value": 967.633485, "relative_strength": 9.742032, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 57.514083, "energy": 80.524952, "activity_lines": [ 732.066667, 684.781818, 652.357533, 644.297617 ] }, { "date": "2026-08-07", "close": 822.0, "volume": 1142756, "typical_volume": 902459.05, "trend": 650.419879, "fair_value": 963.075115, "relative_strength": 14.872525, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "up", "direction": 87.821105, "energy": 95.089155, "activity_lines": [ 772.2, 714.545455, 670.73962, 655.645965 ] } ], "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." } } }