{ "ticker": { "uuid": "d37d566c-6637-4912-a12d-fb5aad829330", "symbol": "FESA4", "name": "Cia de Ferro Ligas da Bahia S.A. - FERBASA", "exchange": "SAO", "country": "BR", "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": "^BVSP", "stage": 4, "stage_name": "Declining", "phase": "4b", "phase_label": "Stage 4B \u00b7 Declining", "transition": "stage_4_declining", "transition_label": "Stage 4 decline intact", "confidence": 96.0, "architecture_regime": "downward_expansion", "architecture_regime_label": "Downward Expansion", "architecture_modifier": "Early contraction", "architecture_gate": "down", "architecture_direction": -76.807, "architecture_energy": 64.699, "architecture_maturity": 55.815, "architecture_confidence": 95.903, "architecture_tenure": "Developing", "architecture": { "interpretation": { "headline": "The weekly architecture is expanding downward.", "body": "Trend and Activity show sustained negative alignment with weak price acceptance. Repair requires persistent improvement across the structure, not merely one strong observation." }, "scores": { "balance": 7.53, "rotation_up": 28.37, "upward_expansion": 11.81, "deceleration": 55.21, "rotation_down": 55.23, "downward_expansion": 85.15 }, "activity_lines": [ 5.881333, 5.946727, 6.273857, 6.649441 ], "activity_state": "Wide", "activity_direction": "Contracting", "rotation_direction": "Improving", "price_acceptance": -0.666667 }, "latest_close": 5.68, "trend_reference": 7.070667, "distance_from_trend": -0.196681, "trend_direction": "Weakening", "fair_value": 7.286381, "distance_from_fair_value": -0.220463, "fair_value_direction": "Weakening", "relative_strength": -19.423428, "relative_strength_direction": "Weakening", "price_momentum": -0.29963, "excess_performance": -0.242582, "evidence": [ { "label": "Price vs Trend", "positive": false, "value": -0.196681, "read": "Below" }, { "label": "Trend direction", "positive": false, "value": -0.043815, "read": "Falling" }, { "label": "Price vs current Fair Value", "positive": false, "value": -0.220463, "read": "Below anchor" }, { "label": "Fair Value direction", "positive": false, "value": -0.179713, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.194234, "read": "Lagging" }, { "label": "Relative strength direction", "positive": false, "value": -0.105582, "read": "Weakening" }, { "label": "Price momentum", "positive": false, "value": -0.29963, "read": "Negative" }, { "label": "Volume balance", "positive": false, "value": 0.509118, "read": "Supply-led" } ], "volume": { "latest": 5332800, "relative_activity": 1.797774, "balance": 0.509118, "dry_up": 1.006242, "accumulation_observations": 2, "distribution_observations": 3 }, "risk": { "range_context": 0.062432, "annualized_volatility": 0.310483, "from_high_reference": -0.361798, "from_low_reference": 0.033543 }, "levels": { "trend_reference": 7.070667, "fair_value_reference": 7.286381, "structural_low": 5.6, "invalidation": "Reclaiming a flat-to-rising Trend with improving relative strength is required before the declining diagnosis is repaired." }, "outcomes": [ { "horizon": "Near term", "sample_count": 24, "median_return": -0.013015, "positive_rate": 0.5, "directional_follow_through": 0.5, "median_excess_return": -0.021216, "regime_survival": 0.791667, "best_return": 0.193009, "worst_return": -0.103093, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 9, "median_return": 0.017997, "positive_rate": 0.555556, "directional_follow_through": 0.444444, "median_excess_return": 0.010363, "regime_survival": 0.555556, "best_return": 0.2756, "worst_return": -0.246525, "sufficient": true }, { "horizon": "Extended", "sample_count": 5, "median_return": 0.000568, "positive_rate": 0.6, "directional_follow_through": 0.4, "median_excess_return": -0.016438, "regime_survival": 0.2, "best_return": 0.229891, "worst_return": -0.232964, "sufficient": true }, { "horizon": "Full cycle", "sample_count": 4, "median_return": -0.016725, "positive_rate": 0.5, "directional_follow_through": 0.5, "median_excess_return": -0.19664, "regime_survival": 0.5, "best_return": 0.40189, "worst_return": -0.343752, "sufficient": false } ], "ledger": [ { "regime": "balance", "label": "Balance", "color": "blue", "start": "2024-12-13", "end": "2024-12-20", "tenure": "New", "return": 0.044043, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2024-12-27", "end": "2025-01-17", "tenure": "New", "return": -0.049505, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-01-24", "end": "2025-04-04", "tenure": "Developing", "return": -0.094194, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2025-04-11", "end": "2025-05-09", "tenure": "Developing", "return": 0.015515, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-05-16", "end": "2025-10-17", "tenure": "Established", "return": -0.046647, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-10-24", "end": "2025-10-24", "tenure": "New", "return": 0.0, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2025-10-31", "end": "2025-11-14", "tenure": "New", "return": -0.01057, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-11-21", "end": "2025-12-26", "tenure": "Developing", "return": 0.010145, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2026-01-02", "end": "2026-01-30", "tenure": "Developing", "return": 0.232353, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-02-06", "end": "2026-03-20", "tenure": "Developing", "return": -0.104809, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2026-03-27", "end": "2026-04-10", "tenure": "New", "return": 0.09375, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-04-17", "end": "2026-05-15", "tenure": "Developing", "return": -0.195838, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2026-05-22", "end": "2026-06-12", "tenure": "New", "return": 0.018003, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2026-06-19", "end": "2026-08-07", "tenure": "Developing", "return": -0.068852, "active": true } ], "chart_path": [ { "date": "2023-08-18", "close": 8.801085, "volume": 4834800, "typical_volume": 4323400.0, "trend": 10.374923, "fair_value": 8.201031, "relative_strength": -19.183664, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -75.37254, "energy": 58.381854, "activity_lines": [ 9.476351, 9.676512, 9.850963, 10.04245 ] }, { "date": "2023-08-25", "close": 9.238277, "volume": 4229600, "typical_volume": 4354380.0, "trend": 10.305401, "fair_value": 8.241084, "relative_strength": -15.350372, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -61.074079, "energy": 61.414962, "activity_lines": [ 9.333616, 9.583761, 9.776789, 9.969118 ] }, { "date": "2023-09-01", "close": 9.802135, "volume": 5438400, "typical_volume": 4443520.0, "trend": 10.257951, "fair_value": 8.28406, "relative_strength": -11.479554, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -56.372375, "energy": 61.527968, "activity_lines": [ 9.418058, 9.597765, 9.760906, 9.936649 ] }, { "date": "2023-09-08", "close": 9.670831, "volume": 3812000, "typical_volume": 4503340.0, "trend": 10.19355, "fair_value": 8.32694, "relative_strength": -10.436968, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -52.754404, "energy": 47.035938, "activity_lines": [ 9.474123, 9.589789, 9.737576, 9.898771 ] }, { "date": "2023-09-15", "close": 10.568763, "volume": 4972800, "typical_volume": 4463660.0, "trend": 10.152591, "fair_value": 8.374845, "relative_strength": -4.879903, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -8.573942, "energy": 9.26673, "activity_lines": [ 9.880746, 9.749281, 9.803125, 9.922978 ] }, { "date": "2023-09-22", "close": 10.073352, "volume": 2892000, "typical_volume": 4408720.0, "trend": 10.115386, "fair_value": 8.420055, "relative_strength": -7.14259, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -18.913168, "energy": 20.30665, "activity_lines": [ 10.033123, 9.807435, 9.820377, 9.917866 ] }, { "date": "2023-09-29", "close": 10.387113, "volume": 2913200, "typical_volume": 4336140.0, "trend": 10.051516, "fair_value": 8.467177, "relative_strength": -4.659002, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "mixed", "direction": 20.009919, "energy": 24.57929, "activity_lines": [ 10.205271, 9.919896, 9.868096, 9.935397 ] }, { "date": "2023-10-06", "close": 9.720371, "volume": 3633200, "typical_volume": 4263380.0, "trend": 10.013381, "fair_value": 8.508934, "relative_strength": -8.880691, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "mixed", "direction": 6.186329, "energy": 16.456665, "activity_lines": [ 10.078581, 9.900941, 9.850872, 9.914032 ] }, { "date": "2023-10-13", "close": 10.122892, "volume": 2424800, "typical_volume": 4222860.0, "trend": 10.017427, "fair_value": 8.553227, "relative_strength": -6.388854, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 11.059163, "energy": 13.656777, "activity_lines": [ 10.091517, 9.960855, 9.875099, 9.921098 ] }, { "date": "2023-10-20", "close": 9.600647, "volume": 3070400, "typical_volume": 4022520.0, "trend": 10.005537, "fair_value": 8.593921, "relative_strength": -9.140386, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -31.489956, "energy": 12.005306, "activity_lines": [ 9.900233, 9.931574, 9.851857, 9.894209 ] }, { "date": "2023-10-27", "close": 10.003168, "volume": 2632000, "typical_volume": 3912220.0, "trend": 9.98432, "fair_value": 8.63819, "relative_strength": -5.496561, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -23.224582, "energy": 12.315913, "activity_lines": [ 9.907664, 9.968778, 9.868411, 9.894056 ] }, { "date": "2023-11-03", "close": 9.838032, "volume": 3143600, "typical_volume": 3780400.0, "trend": 9.972182, "fair_value": 8.680646, "relative_strength": -10.750793, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -27.928327, "energy": 12.624102, "activity_lines": [ 9.864729, 9.954101, 9.868835, 9.884618 ] }, { "date": "2023-11-10", "close": 9.687345, "volume": 4468800, "typical_volume": 3799200.0, "trend": 9.932947, "fair_value": 8.723632, "relative_strength": -13.68614, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -35.943721, "energy": 18.097642, "activity_lines": [ 9.80817, 9.901122, 9.853161, 9.866241 ] }, { "date": "2023-11-17", "close": 10.120829, "volume": 2909600, "typical_volume": 3734240.0, "trend": 9.924415, "fair_value": 8.769037, "relative_strength": -12.714912, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 7.29737, "energy": 3.258221, "activity_lines": [ 9.898307, 9.929045, 9.879814, 9.878363 ] }, { "date": "2023-11-24", "close": 9.555235, "volume": 2442000, "typical_volume": 3624960.0, "trend": 9.898435, "fair_value": 8.810074, "relative_strength": -17.534694, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -48.999669, "energy": 20.855476, "activity_lines": [ 9.800051, 9.845951, 9.85156, 9.854545 ] }, { "date": "2023-12-01", "close": 9.466474, "volume": 4394800, "typical_volume": 3704120.0, "trend": 9.874112, "fair_value": 8.849406, "relative_strength": -19.495205, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -50.82389, "energy": 28.880342, "activity_lines": [ 9.675235, 9.765146, 9.816729, 9.826676 ] }, { "date": "2023-12-08", "close": 9.174884, "volume": 4096800, "typical_volume": 3777680.0, "trend": 9.843816, "fair_value": 8.888028, "relative_strength": -20.836894, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -60.939398, "energy": 44.46449, "activity_lines": [ 9.489002, 9.64236, 9.756299, 9.781565 ] }, { "date": "2023-12-15", "close": 9.440066, "volume": 3261600, "typical_volume": 3764700.0, "trend": 9.812659, "fair_value": 8.927642, "relative_strength": -20.047576, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -51.335972, "energy": 47.916713, "activity_lines": [ 9.435372, 9.589829, 9.724229, 9.755516 ] }, { "date": "2023-12-22", "close": 9.693487, "volume": 2931600, "typical_volume": 3729300.0, "trend": 9.782458, "fair_value": 8.968555, "relative_strength": -19.040252, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -48.310235, "energy": 41.96865, "activity_lines": [ 9.482702, 9.58847, 9.719117, 9.747828 ] }, { "date": "2023-12-29", "close": 9.891357, "volume": 2052400, "typical_volume": 3527720.0, "trend": 9.78193, "fair_value": 9.010254, "relative_strength": -17.852344, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -38.720048, "energy": 19.606271, "activity_lines": [ 9.624478, 9.630896, 9.736403, 9.754854 ] }, { "date": "2024-01-05", "close": 9.361577, "volume": 3418400, "typical_volume": 3456900.0, "trend": 9.763363, "fair_value": 9.044604, "relative_strength": -20.568044, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -51.785473, "energy": 21.826329, "activity_lines": [ 9.567253, 9.571712, 9.700094, 9.727734 ] }, { "date": "2024-01-12", "close": 9.382853, "volume": 2744400, "typical_volume": 3382640.0, "trend": 9.760419, "fair_value": 9.080601, "relative_strength": -19.269888, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -50.03393, "energy": 21.46602, "activity_lines": [ 9.524112, 9.528062, 9.663143, 9.703185 ] }, { "date": "2024-01-19", "close": 9.059452, "volume": 2802000, "typical_volume": 3250820.0, "trend": 9.73219, "fair_value": 9.112106, "relative_strength": -19.484968, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -61.569615, "energy": 39.182517, "activity_lines": [ 9.359307, 9.433888, 9.594703, 9.657961 ] }, { "date": "2024-01-26", "close": 9.182856, "volume": 2568500, "typical_volume": 3188645.0, "trend": 9.70821, "fair_value": 9.146809, "relative_strength": -18.708209, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -57.537317, "energy": 53.967209, "activity_lines": [ 9.261011, 9.373567, 9.541553, 9.62252 ] }, { "date": "2024-02-02", "close": 8.467972, "volume": 3464200, "typical_volume": 3113215.0, "trend": 9.658835, "fair_value": 9.175567, "relative_strength": -23.363949, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -78.160943, "energy": 71.997967, "activity_lines": [ 8.958462, 9.200321, 9.422642, 9.542505 ] }, { "date": "2024-02-09", "close": 8.153083, "volume": 3348900, "typical_volume": 3136060.0, "trend": 9.599849, "fair_value": 9.201432, "relative_strength": -25.98583, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -86.750053, "energy": 85.791517, "activity_lines": [ 8.645842, 8.989591, 9.283745, 9.44536 ] }, { "date": "2024-02-16", "close": 8.093509, "volume": 1972700, "typical_volume": 3089035.0, "trend": 9.542077, "fair_value": 9.224269, "relative_strength": -26.182759, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -82.308446, "energy": 89.211133, "activity_lines": [ 8.39393, 8.791909, 9.148319, 9.348176 ] }, { "date": "2024-02-23", "close": 8.255209, "volume": 2270500, "typical_volume": 3020900.0, "trend": 9.482818, "fair_value": 9.247471, "relative_strength": -24.395885, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -70.023628, "energy": 86.532536, "activity_lines": [ 8.281875, 8.643289, 9.039214, 9.265153 ] }, { "date": "2024-03-01", "close": 8.27223, "volume": 2939200, "typical_volume": 3046620.0, "trend": 9.410574, "fair_value": 9.268011, "relative_strength": -23.146589, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -66.892389, "energy": 83.692682, "activity_lines": [ 8.22911, 8.519306, 8.938708, 9.18705 ] }, { "date": "2024-03-08", "close": 7.753088, "volume": 5151800, "typical_volume": 3150690.0, "trend": 9.361272, "fair_value": 9.283997, "relative_strength": -26.025775, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -80.456814, "energy": 82.406463, "activity_lines": [ 8.064006, 8.326775, 8.797572, 9.080116 ] }, { "date": "2024-03-15", "close": 7.267989, "volume": 3529700, "typical_volume": 3195575.0, "trend": 9.310169, "fair_value": 9.294692, "relative_strength": -29.807696, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -87.521531, "energy": 84.728621, "activity_lines": [ 7.784861, 8.084921, 8.619034, 8.945065 ] }, { "date": "2024-03-22", "close": 7.404156, "volume": 2889400, "typical_volume": 3182865.0, "trend": 9.249032, "fair_value": 9.30635, "relative_strength": -27.932679, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -76.912039, "energy": 81.233056, "activity_lines": [ 7.610111, 7.905891, 8.46649, 8.822097 ] }, { "date": "2024-03-29", "close": 7.378625, "volume": 2274000, "typical_volume": 3073125.0, "trend": 9.168248, "fair_value": 9.315744, "relative_strength": -27.984158, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -72.080106, "energy": 82.613517, "activity_lines": [ 7.472808, 7.758194, 8.323103, 8.701425 ] }, { "date": "2024-04-05", "close": 7.199903, "volume": 4298100, "typical_volume": 3142550.0, "trend": 9.085884, "fair_value": 9.321595, "relative_strength": -28.23567, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -74.293478, "energy": 85.64847, "activity_lines": [ 7.33437, 7.608564, 8.17369, 8.574435 ] }, { "date": "2024-04-12", "close": 7.267989, "volume": 4474400, "typical_volume": 3244170.0, "trend": 8.975858, "fair_value": 9.327985, "relative_strength": -26.270961, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -69.194623, "energy": 67.696276, "activity_lines": [ 7.290116, 7.507366, 8.044669, 8.457152 ] }, { "date": "2024-04-19", "close": 7.046715, "volume": 5093600, "typical_volume": 3279110.0, "trend": 8.87497, "fair_value": 9.330321, "relative_strength": -27.275759, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -75.379731, "energy": 67.399988, "activity_lines": [ 7.204443, 7.387755, 7.905467, 8.332691 ] }, { "date": "2024-04-26", "close": 6.919057, "volume": 3823800, "typical_volume": 3265460.0, "trend": 8.759368, "fair_value": 9.323558, "relative_strength": -28.599422, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -76.177218, "energy": 67.642966, "activity_lines": [ 7.09097, 7.265048, 7.76563, 8.206503 ] }, { "date": "2024-05-03", "close": 7.004161, "volume": 4715100, "typical_volume": 3338135.0, "trend": 8.668828, "fair_value": 9.320192, "relative_strength": -28.069531, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -69.422219, "energy": 64.959994, "activity_lines": [ 7.038204, 7.179169, 7.64464, 8.093264 ] }, { "date": "2024-05-10", "close": 6.80842, "volume": 3644000, "typical_volume": 3373755.0, "trend": 8.558346, "fair_value": 9.318967, "relative_strength": -28.866502, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -74.890464, "energy": 67.112385, "activity_lines": [ 6.945156, 7.080447, 7.516607, 7.973237 ] }, { "date": "2024-05-17", "close": 6.80842, "volume": 3686700, "typical_volume": 3455470.0, "trend": 8.465271, "fair_value": 9.320957, "relative_strength": -28.428226, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -71.484588, "energy": 65.802833, "activity_lines": [ 6.878206, 7.00834, 7.402313, 7.860339 ] }, { "date": "2024-05-24", "close": 7.038205, "volume": 4427400, "typical_volume": 3505920.0, "trend": 8.366439, "fair_value": 9.324352, "relative_strength": -22.946549, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -64.753813, "energy": 58.717965, "activity_lines": [ 6.91849, 6.995187, 7.324583, 7.76827 ] }, { "date": "2024-05-31", "close": 6.765867, "volume": 3098800, "typical_volume": 3523640.0, "trend": 8.264034, "fair_value": 9.321503, "relative_strength": -23.93954, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -70.063449, "energy": 58.930332, "activity_lines": [ 6.868561, 6.936697, 7.231981, 7.665007 ] }, { "date": "2024-06-07", "close": 6.666554, "volume": 4826100, "typical_volume": 3624845.0, "trend": 8.163341, "fair_value": 9.31798, "relative_strength": -23.634188, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -72.813576, "energy": 61.755152, "activity_lines": [ 6.795741, 6.871755, 7.142381, 7.561944 ] }, { "date": "2024-06-14", "close": 6.572296, "volume": 3432500, "typical_volume": 3668045.0, "trend": 8.045056, "fair_value": 9.313899, "relative_strength": -23.513494, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -74.277152, "energy": 63.180921, "activity_lines": [ 6.714008, 6.802621, 7.0552, 7.459296 ] }, { "date": "2024-06-21", "close": 6.70083, "volume": 3532800, "typical_volume": 3671475.0, "trend": 7.949909, "fair_value": 9.307925, "relative_strength": -22.514851, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -63.436331, "energy": 57.981034, "activity_lines": [ 6.690862, 6.768269, 6.992691, 7.372572 ] }, { "date": "2024-06-28", "close": 6.915049, "volume": 3309700, "typical_volume": 3669515.0, "trend": 7.864862, "fair_value": 9.301496, "relative_strength": -21.096528, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -59.522866, "energy": 49.798119, "activity_lines": [ 6.746295, 6.783177, 6.958999, 7.305807 ] }, { "date": "2024-07-05", "close": 7.386336, "volume": 3081800, "typical_volume": 3724970.0, "trend": 7.805244, "fair_value": 9.296616, "relative_strength": -16.72407, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -33.428226, "energy": 25.713542, "activity_lines": [ 6.967034, 6.886168, 6.976087, 7.274934 ] }, { "date": "2024-07-12", "close": 7.626263, "volume": 3109200, "typical_volume": 3766905.0, "trend": 7.744784, "fair_value": 9.289128, "relative_strength": -15.189903, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": 4.832375, "energy": 16.521462, "activity_lines": [ 7.226384, 7.024286, 7.019393, 7.263387 ] }, { "date": "2024-07-19", "close": 7.386336, "volume": 2892200, "typical_volume": 3764555.0, "trend": 7.667879, "fair_value": 9.278162, "relative_strength": -16.484206, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -1.151666, "energy": 22.914374, "activity_lines": [ 7.341778, 7.10747, 7.042843, 7.240261 ] }, { "date": "2024-07-26", "close": 7.043582, "volume": 2041800, "typical_volume": 3609055.0, "trend": 7.572953, "fair_value": 9.264267, "relative_strength": -19.652781, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -3.322707, "energy": 21.146464, "activity_lines": [ 7.288651, 7.117828, 7.037869, 7.199984 ] }, { "date": "2024-08-02", "close": 6.846499, "volume": 2911900, "typical_volume": 3578165.0, "trend": 7.489117, "fair_value": 9.24839, "relative_strength": -20.148522, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -21.229753, "energy": 16.149409, "activity_lines": [ 7.14698, 7.088076, 7.017503, 7.153116 ] }, { "date": "2024-08-09", "close": 6.863637, "volume": 2776900, "typical_volume": 3572540.0, "trend": 7.405143, "fair_value": 9.232885, "relative_strength": -22.304079, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -37.672371, "energy": 22.044271, "activity_lines": [ 7.015591, 7.064927, 7.000777, 7.112762 ] }, { "date": "2024-08-16", "close": 7.069289, "volume": 3010800, "typical_volume": 3609380.0, "trend": 7.338804, "fair_value": 9.224648, "relative_strength": -21.445671, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -32.450097, "energy": 23.446467, "activity_lines": [ 6.987599, 7.07739, 7.00621, 7.091094 ] }, { "date": "2024-08-23", "close": 7.154978, "volume": 2897100, "typical_volume": 3539330.0, "trend": 7.271208, "fair_value": 9.209949, "relative_strength": -20.852323, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -26.756289, "energy": 18.606117, "activity_lines": [ 7.025302, 7.098111, 7.021278, 7.079235 ] }, { "date": "2024-08-30", "close": 6.983601, "volume": 3472200, "typical_volume": 3489220.0, "trend": 7.221729, "fair_value": 9.194551, "relative_strength": -22.259951, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -33.475202, "energy": 17.142813, "activity_lines": [ 7.021304, 7.077079, 7.020237, 7.060679 ] }, { "date": "2024-09-06", "close": 6.746874, "volume": 3528500, "typical_volume": 3410965.0, "trend": 7.174856, "fair_value": 9.178263, "relative_strength": -23.343141, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -45.345718, "energy": 21.589228, "activity_lines": [ 6.942395, 7.007864, 6.998006, 7.030044 ] }, { "date": "2024-09-13", "close": 6.867661, "volume": 2256100, "typical_volume": 3332580.0, "trend": 7.133994, "fair_value": 9.160495, "relative_strength": -21.268614, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -47.666985, "energy": 23.998002, "activity_lines": [ 6.91039, 6.963668, 6.988706, 7.010225 ] }, { "date": "2024-09-20", "close": 6.660596, "volume": 2468000, "typical_volume": 3220225.0, "trend": 7.08084, "fair_value": 9.13934, "relative_strength": -20.568017, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -58.78598, "energy": 44.002669, "activity_lines": [ 6.809095, 6.891254, 6.95993, 6.979683 ] }, { "date": "2024-09-27", "close": 6.626085, "volume": 3941700, "typical_volume": 3235110.0, "trend": 7.025969, "fair_value": 9.118459, "relative_strength": -21.04074, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -59.99278, "energy": 53.175377, "activity_lines": [ 6.723543, 6.830123, 6.929503, 6.950344 ] }, { "date": "2024-10-04", "close": 6.79864, "volume": 3501200, "typical_volume": 3225835.0, "trend": 6.994154, "fair_value": 9.101652, "relative_strength": -17.566592, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -54.415969, "energy": 46.391842, "activity_lines": [ 6.730768, 6.814188, 6.916379, 6.935677 ] }, { "date": "2024-10-11", "close": 6.60883, "volume": 2850900, "typical_volume": 3147010.0, "trend": 6.972182, "fair_value": 9.08058, "relative_strength": -17.834013, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -61.028536, "energy": 51.887583, "activity_lines": [ 6.687055, 6.768196, 6.885223, 6.910818 ] }, { "date": "2024-10-18", "close": 6.600202, "volume": 1938400, "typical_volume": 3088990.0, "trend": 6.945383, "fair_value": 9.063824, "relative_strength": -17.380134, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -59.522972, "energy": 47.59048, "activity_lines": [ 6.649668, 6.724957, 6.855291, 6.886819 ] }, { "date": "2024-10-25", "close": 6.436275, "volume": 2794600, "typical_volume": 2987415.0, "trend": 6.913972, "fair_value": 9.05055, "relative_strength": -18.059091, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -67.248111, "energy": 52.309498, "activity_lines": [ 6.575469, 6.656702, 6.810536, 6.853973 ] }, { "date": "2024-11-01", "close": 6.341371, "volume": 2008100, "typical_volume": 2916195.0, "trend": 6.885354, "fair_value": 9.038106, "relative_strength": -17.262314, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -70.943114, "energy": 64.776031, "activity_lines": [ 6.484591, 6.582702, 6.757838, 6.817031 ] }, { "date": "2024-11-08", "close": 6.643341, "volume": 2583300, "typical_volume": 2868720.0, "trend": 6.864532, "fair_value": 9.02456, "relative_strength": -12.326589, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -57.083813, "energy": 49.645465, "activity_lines": [ 6.51335, 6.578398, 6.735, 6.801418 ] }, { "date": "2024-11-15", "close": 6.531181, "volume": 1874200, "typical_volume": 2796945.0, "trend": 6.847348, "fair_value": 9.012688, "relative_strength": -12.938942, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -55.939451, "energy": 42.049331, "activity_lines": [ 6.515076, 6.559887, 6.701753, 6.779911 ] }, { "date": "2024-11-22", "close": 6.841778, "volume": 1769500, "typical_volume": 2731330.0, "trend": 6.844772, "fair_value": 9.006616, "relative_strength": -9.051835, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -33.476081, "energy": 20.403411, "activity_lines": [ 6.62551, 6.601771, 6.699915, 6.779552 ] }, { "date": "2024-11-29", "close": 6.729618, "volume": 2253400, "typical_volume": 2688540.0, "trend": 6.83562, "fair_value": 8.998788, "relative_strength": -7.459671, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -30.979937, "energy": 17.373857, "activity_lines": [ 6.682453, 6.623732, 6.689988, 6.772122 ] }, { "date": "2024-12-06", "close": 6.585906, "volume": 2386800, "typical_volume": 2663270.0, "trend": 6.828203, "fair_value": 8.984754, "relative_strength": -9.034259, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -33.152366, "energy": 17.04012, "activity_lines": [ 6.671936, 6.618309, 6.670644, 6.756012 ] }, { "date": "2024-12-13", "close": 7.03771, "volume": 3463900, "typical_volume": 2734375.0, "trend": 6.835846, "fair_value": 8.972321, "relative_strength": -1.223577, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -7.459921, "energy": 12.516637, "activity_lines": [ 6.795718, 6.695763, 6.69814, 6.769528 ] }, { "date": "2024-12-20", "close": 7.34767, "volume": 3420200, "typical_volume": 2759790.0, "trend": 6.846162, "fair_value": 8.963401, "relative_strength": 5.703321, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 31.645245, "energy": 30.81065, "activity_lines": [ 6.996528, 6.825227, 6.755185, 6.802549 ] }, { "date": "2024-12-27", "close": 7.34767, "volume": 1322100, "typical_volume": 2687050.0, "trend": 6.865555, "fair_value": 8.954054, "relative_strength": 7.773795, "stage": 1, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 31.908054, "energy": 48.327026, "activity_lines": [ 7.142906, 6.941257, 6.809843, 6.834905 ] }, { "date": "2025-01-03", "close": 6.892987, "volume": 1932100, "typical_volume": 2633115.0, "trend": 6.873103, "fair_value": 8.94396, "relative_strength": 3.031233, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 17.941474, "energy": 38.674677, "activity_lines": [ 7.103997, 6.961027, 6.818892, 6.836674 ] }, { "date": "2025-01-10", "close": 6.847519, "volume": 1708800, "typical_volume": 2573700.0, "trend": 6.882277, "fair_value": 8.934709, "relative_strength": 2.56338, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 14.770874, "energy": 30.409129, "activity_lines": [ 7.03904, 6.964226, 6.824451, 6.835024 ] }, { "date": "2025-01-17", "close": 6.983924, "volume": 1348600, "typical_volume": 2467520.0, "trend": 6.891714, "fair_value": 8.927561, "relative_strength": 2.104984, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 21.032352, "energy": 15.391775, "activity_lines": [ 7.002111, 6.983023, 6.844466, 6.841582 ] }, { "date": "2025-01-24", "close": 7.04758, "volume": 1665100, "typical_volume": 2374350.0, "trend": 6.896131, "fair_value": 8.919269, "relative_strength": 3.439604, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 11.416039, "energy": 7.232646, "activity_lines": [ 6.989986, 7.007202, 6.870541, 6.851638 ] }, { "date": "2025-01-31", "close": 7.083954, "volume": 1811300, "typical_volume": 2352110.0, "trend": 6.886052, "fair_value": 8.909276, "relative_strength": 1.298247, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 12.804831, "energy": 9.010472, "activity_lines": [ 7.009992, 7.028605, 6.898648, 6.863755 ] }, { "date": "2025-02-07", "close": 6.920269, "volume": 1598800, "typical_volume": 2308650.0, "trend": 6.862519, "fair_value": 8.900955, "relative_strength": 0.445441, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 35.425405, "energy": 17.638243, "activity_lines": [ 6.993018, 7.015845, 6.910136, 6.865963 ] }, { "date": "2025-02-14", "close": 7.138516, "volume": 1141000, "typical_volume": 2168615.0, "trend": 6.854258, "fair_value": 8.896337, "relative_strength": 0.95691, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 52.635781, "energy": 27.437307, "activity_lines": [ 7.046973, 7.039299, 6.941173, 6.883769 ] }, { "date": "2025-02-21", "close": 7.038486, "volume": 1543600, "typical_volume": 2070735.0, "trend": 6.854088, "fair_value": 8.890291, "relative_strength": 0.692193, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 46.688162, "energy": 24.477881, "activity_lines": [ 7.048186, 7.034518, 6.960244, 6.895655 ] }, { "date": "2025-02-28", "close": 6.783864, "volume": 1628200, "typical_volume": 2009600.0, "trend": 6.852, "fair_value": 8.877043, "relative_strength": 0.780775, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 25.444654, "energy": 11.12886, "activity_lines": [ 6.960887, 6.983428, 6.953922, 6.891124 ] }, { "date": "2025-03-07", "close": 7.011205, "volume": 934100, "typical_volume": 1959385.0, "trend": 6.856919, "fair_value": 8.865519, "relative_strength": 2.473073, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 33.491192, "energy": 14.233367, "activity_lines": [ 6.966949, 6.983924, 6.968419, 6.901395 ] }, { "date": "2025-03-14", "close": 7.093048, "volume": 2915800, "typical_volume": 1965445.0, "trend": 6.857711, "fair_value": 8.852343, "relative_strength": 0.599124, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 37.907162, "energy": 15.473575, "activity_lines": [ 7.005143, 7.005418, 6.988753, 6.916629 ] }, { "date": "2025-03-21", "close": 6.938456, "volume": 2359700, "typical_volume": 1983025.0, "trend": 6.850494, "fair_value": 8.839217, "relative_strength": -3.914528, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 30.761025, "energy": 13.719228, "activity_lines": [ 6.980287, 6.995167, 6.991236, 6.921839 ] }, { "date": "2025-03-28", "close": 6.692927, "volume": 2316300, "typical_volume": 1969675.0, "trend": 6.840805, "fair_value": 8.827922, "relative_strength": -6.778119, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 3.38909, "energy": 4.971056, "activity_lines": [ 6.886925, 6.938621, 6.967493, 6.911673 ] }, { "date": "2025-04-04", "close": 6.383743, "volume": 3673100, "typical_volume": 2059620.0, "trend": 6.8287, "fair_value": 8.817436, "relative_strength": -7.622307, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -31.967558, "energy": 39.911373, "activity_lines": [ 6.713539, 6.831151, 6.914067, 6.882185 ] }, { "date": "2025-04-11", "close": 6.447399, "volume": 3627800, "typical_volume": 2152535.0, "trend": 6.814692, "fair_value": 8.808029, "relative_strength": -6.774358, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -27.174004, "energy": 49.3197, "activity_lines": [ 6.588047, 6.747324, 6.867406, 6.857585 ] }, { "date": "2025-04-18", "close": 6.556522, "volume": 1727500, "typical_volume": 2126240.0, "trend": 6.811223, "fair_value": 8.799101, "relative_strength": -6.444668, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -29.715321, "energy": 53.875011, "activity_lines": [ 6.536516, 6.694911, 6.833015, 6.840929 ] }, { "date": "2025-04-25", "close": 6.601991, "volume": 1179900, "typical_volume": 2065895.0, "trend": 6.810419, "fair_value": 8.78661, "relative_strength": -9.17014, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -30.578777, "energy": 52.571894, "activity_lines": [ 6.53591, 6.657379, 6.803779, 6.82743 ] }, { "date": "2025-05-02", "close": 6.547429, "volume": 1585900, "typical_volume": 1971995.0, "trend": 6.802046, "fair_value": 8.776074, "relative_strength": -9.989915, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -28.75555, "energy": 40.136703, "activity_lines": [ 6.539548, 6.619682, 6.769271, 6.810463 ] }, { "date": "2025-05-09", "close": 6.547429, "volume": 2304800, "typical_volume": 1916225.0, "trend": 6.799999, "fair_value": 8.760844, "relative_strength": -10.726435, "stage": 4, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -53.519469, "energy": 33.773572, "activity_lines": [ 6.552885, 6.590913, 6.737096, 6.794036 ] }, { "date": "2025-05-16", "close": 6.40193, "volume": 5059700, "typical_volume": 2103105.0, "trend": 6.79339, "fair_value": 8.738139, "relative_strength": -14.168753, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -60.326589, "energy": 36.106467, "activity_lines": [ 6.50681, 6.539989, 6.694876, 6.768354 ] }, { "date": "2025-05-23", "close": 6.292807, "volume": 4787700, "typical_volume": 2245885.0, "trend": 6.788608, "fair_value": 8.716103, "relative_strength": -14.460931, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -64.389579, "energy": 42.489585, "activity_lines": [ 6.427393, 6.480301, 6.646766, 6.736059 ] }, { "date": "2025-05-30", "close": 6.383743, "volume": 2136600, "typical_volume": 2267275.0, "trend": 6.79002, "fair_value": 8.686247, "relative_strength": -12.441688, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -57.970818, "energy": 44.370711, "activity_lines": [ 6.395868, 6.451698, 6.610175, 6.709939 ] }, { "date": "2025-06-06", "close": 6.445073, "volume": 2268200, "typical_volume": 2313255.0, "trend": 6.783411, "fair_value": 8.660396, "relative_strength": -10.746563, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -56.601004, "energy": 45.225037, "activity_lines": [ 6.399336, 6.44433, 6.581633, 6.687684 ] }, { "date": "2025-06-13", "close": 6.408557, "volume": 1994600, "typical_volume": 2329730.0, "trend": 6.779324, "fair_value": 8.639416, "relative_strength": -11.707814, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -55.500112, "energy": 40.909473, "activity_lines": [ 6.397457, 6.43483, 6.55218, 6.6635 ] }, { "date": "2025-06-20", "close": 6.19859, "volume": 2221000, "typical_volume": 2350215.0, "trend": 6.757884, "fair_value": 8.618104, "relative_strength": -14.227841, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -65.309407, "energy": 40.783627, "activity_lines": [ 6.334846, 6.386704, 6.505772, 6.626033 ] }, { "date": "2025-06-27", "close": 6.207719, "volume": 2501400, "typical_volume": 2395345.0, "trend": 6.740487, "fair_value": 8.602177, "relative_strength": -13.615172, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -62.484037, "energy": 42.287034, "activity_lines": [ 6.288834, 6.34476, 6.464451, 6.590539 ] }, { "date": "2025-07-04", "close": 6.335526, "volume": 3124800, "typical_volume": 2494535.0, "trend": 6.732141, "fair_value": 8.587899, "relative_strength": -14.280001, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -54.606646, "energy": 38.563257, "activity_lines": [ 6.291098, 6.332397, 6.438694, 6.564412 ] }, { "date": "2025-07-11", "close": 6.235106, "volume": 2451300, "typical_volume": 2539920.0, "trend": 6.705388, "fair_value": 8.575334, "relative_strength": -11.927306, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -57.850363, "energy": 44.487988, "activity_lines": [ 6.263102, 6.306619, 6.407197, 6.532345 ] }, { "date": "2025-07-18", "close": 6.025139, "volume": 2042900, "typical_volume": 2560655.0, "trend": 6.661304, "fair_value": 8.559836, "relative_strength": -12.692945, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -70.120663, "energy": 53.979565, "activity_lines": [ 6.179115, 6.248345, 6.359529, 6.488458 ] }, { "date": "2025-07-25", "close": 6.143816, "volume": 2400500, "typical_volume": 2633975.0, "trend": 6.621175, "fair_value": 8.541154, "relative_strength": -10.761645, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -59.894469, "energy": 44.233065, "activity_lines": [ 6.160248, 6.221144, 6.326777, 6.455072 ] }, { "date": "2025-08-01", "close": 5.933849, "volume": 2585400, "typical_volume": 2617455.0, "trend": 6.589204, "fair_value": 8.523018, "relative_strength": -12.791895, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -72.114163, "energy": 61.546496, "activity_lines": [ 6.075044, 6.160461, 6.278158, 6.410728 ] }, { "date": "2025-08-08", "close": 5.796914, "volume": 2405600, "typical_volume": 2619750.0, "trend": 6.554184, "fair_value": 8.497446, "relative_strength": -16.674606, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -76.544334, "energy": 73.190899, "activity_lines": [ 5.962453, 6.081407, 6.222017, 6.359613 ] }, { "date": "2025-08-15", "close": 5.605205, "volume": 4138800, "typical_volume": 2710875.0, "trend": 6.508226, "fair_value": 8.472086, "relative_strength": -19.329703, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -83.268547, "energy": 82.421082, "activity_lines": [ 5.821867, 5.978166, 6.153055, 6.298388 ] }, { "date": "2025-08-22", "close": 5.714753, "volume": 2798800, "typical_volume": 2667160.0, "trend": 6.463799, "fair_value": 8.445792, "relative_strength": -18.373655, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -71.120471, "energy": 80.586582, "activity_lines": [ 5.759789, 5.910114, 6.099705, 6.247196 ] }, { "date": "2025-08-29", "close": 5.879076, "volume": 3171300, "typical_volume": 2644335.0, "trend": 6.423636, "fair_value": 8.413748, "relative_strength": -17.77279, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -64.242517, "energy": 67.440595, "activity_lines": [ 5.773179, 5.884553, 6.065191, 6.209472 ] }, { "date": "2025-09-05", "close": 5.882366, "volume": 3839600, "typical_volume": 2749940.0, "trend": 6.389039, "fair_value": 8.380313, "relative_strength": -18.152324, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -60.932495, "energy": 49.088827, "activity_lines": [ 5.805314, 5.865399, 6.033697, 6.174552 ] }, { "date": "2025-09-12", "close": 6.011244, "volume": 2652600, "typical_volume": 2823575.0, "trend": 6.351464, "fair_value": 8.353618, "relative_strength": -15.864531, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -45.175126, "energy": 32.579795, "activity_lines": [ 5.883842, 5.875593, 6.017686, 6.150178 ] }, { "date": "2025-09-19", "close": 6.112505, "volume": 2247200, "typical_volume": 2856640.0, "trend": 6.320598, "fair_value": 8.328827, "relative_strength": -16.268801, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -36.833367, "energy": 20.651731, "activity_lines": [ 5.981834, 5.910095, 6.014133, 6.134761 ] }, { "date": "2025-09-26", "close": 6.075683, "volume": 1841900, "typical_volume": 2833495.0, "trend": 6.296992, "fair_value": 8.303192, "relative_strength": -16.271839, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -30.939012, "energy": 20.989366, "activity_lines": [ 6.033732, 5.940131, 6.009144, 6.11896 ] }, { "date": "2025-10-03", "close": 6.057272, "volume": 2467100, "typical_volume": 2703865.0, "trend": 6.265194, "fair_value": 8.27745, "relative_strength": -15.492206, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -26.586215, "energy": 20.477607, "activity_lines": [ 6.055431, 5.9659, 6.004648, 6.103494 ] }, { "date": "2025-10-10", "close": 5.716665, "volume": 2362700, "typical_volume": 2582615.0, "trend": 6.219314, "fair_value": 8.250631, "relative_strength": -17.923977, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -49.613745, "energy": 21.824575, "activity_lines": [ 5.951714, 5.931314, 5.969355, 6.068105 ] }, { "date": "2025-10-17", "close": 6.1033, "volume": 2679500, "typical_volume": 2609760.0, "trend": 6.191476, "fair_value": 8.222936, "relative_strength": -13.765974, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -26.384242, "energy": 13.152584, "activity_lines": [ 5.987923, 5.970974, 5.973627, 6.060621 ] }, { "date": "2025-10-24", "close": 6.250589, "volume": 1761400, "typical_volume": 2584420.0, "trend": 6.176731, "fair_value": 8.199826, "relative_strength": -13.130544, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -0.628984, "energy": 3.875197, "activity_lines": [ 6.067091, 6.031844, 5.993262, 6.064434 ] }, { "date": "2025-10-31", "close": 7.22638, "volume": 5070100, "typical_volume": 2738195.0, "trend": 6.204819, "fair_value": 8.177814, "relative_strength": -1.786201, "stage": 1, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 48.286487, "energy": 57.281545, "activity_lines": [ 6.462317, 6.258396, 6.106756, 6.132154 ] }, { "date": "2025-11-07", "close": 7.38, "volume": 5561700, "typical_volume": 2905230.0, "trend": 6.235906, "fair_value": 8.157818, "relative_strength": -2.488612, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 61.453849, "energy": 78.600159, "activity_lines": [ 6.832037, 6.485394, 6.230986, 6.207972 ] }, { "date": "2025-11-14", "close": 7.15, "volume": 3179500, "typical_volume": 2939135.0, "trend": 6.255689, "fair_value": 8.135553, "relative_strength": -7.519352, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "up", "direction": 73.341351, "energy": 87.671903, "activity_lines": [ 7.036908, 6.643285, 6.327686, 6.266946 ] }, { "date": "2025-11-21", "close": 6.9, "volume": 1938900, "typical_volume": 2879840.0, "trend": 6.265622, "fair_value": 8.111374, "relative_strength": -8.740006, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 67.381472, "energy": 84.611335, "activity_lines": [ 7.06289, 6.732673, 6.396089, 6.308514 ] }, { "date": "2025-11-28", "close": 7.18, "volume": 3109800, "typical_volume": 2912765.0, "trend": 6.286708, "fair_value": 8.085611, "relative_strength": -7.297875, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 70.314111, "energy": 84.810443, "activity_lines": [ 7.129092, 6.856812, 6.48847, 6.367506 ] }, { "date": "2025-12-05", "close": 6.76, "volume": 4525200, "typical_volume": 3036880.0, "trend": 6.293794, "fair_value": 8.057525, "relative_strength": -11.449562, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 62.157493, "energy": 51.798051, "activity_lines": [ 6.993333, 6.885177, 6.536352, 6.398041 ] }, { "date": "2025-12-12", "close": 6.97, "volume": 2862000, "typical_volume": 3059955.0, "trend": 6.312729, "fair_value": 8.037115, "relative_strength": -10.160604, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 59.907981, "energy": 43.912458, "activity_lines": [ 6.958667, 6.939283, 6.600735, 6.441667 ] }, { "date": "2025-12-19", "close": 6.93, "volume": 3644100, "typical_volume": 3112890.0, "trend": 6.333969, "fair_value": 8.0121, "relative_strength": -8.785914, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 47.498871, "energy": 37.072667, "activity_lines": [ 6.938, 6.96952, 6.657374, 6.481491 ] }, { "date": "2025-12-26", "close": 6.97, "volume": 2057000, "typical_volume": 3095460.0, "trend": 6.353511, "fair_value": 7.987998, "relative_strength": -8.9927, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 43.966544, "energy": 31.777717, "activity_lines": [ 6.945333, 6.98497, 6.713079, 6.522526 ] }, { "date": "2026-01-02", "close": 6.8, "volume": 1710500, "typical_volume": 2974045.0, "trend": 6.365342, "fair_value": 7.965276, "relative_strength": -10.442901, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 42.707037, "energy": 30.249116, "activity_lines": [ 6.891333, 6.953752, 6.747008, 6.551331 ] }, { "date": "2026-01-09", "close": 6.8, "volume": 3213500, "typical_volume": 2994780.0, "trend": 6.37839, "fair_value": 7.937961, "relative_strength": -11.418951, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 38.769884, "energy": 25.103606, "activity_lines": [ 6.862667, 6.912545, 6.775246, 6.579374 ] }, { "date": "2026-01-16", "close": 6.82, "volume": 5088900, "typical_volume": 3090660.0, "trend": 6.399104, "fair_value": 7.909115, "relative_strength": -11.359836, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 36.074048, "energy": 20.814736, "activity_lines": [ 6.838, 6.882727, 6.800222, 6.607865 ] }, { "date": "2026-01-23", "close": 7.2, "volume": 4268900, "typical_volume": 3112125.0, "trend": 6.43218, "fair_value": 7.88268, "relative_strength": -13.157739, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 61.416837, "energy": 32.572333, "activity_lines": [ 6.95, 6.932182, 6.856908, 6.659536 ] }, { "date": "2026-01-30", "close": 8.38, "volume": 7504400, "typical_volume": 3354715.0, "trend": 6.500329, "fair_value": 7.864439, "relative_strength": 0.092129, "stage": 1, "regime": "deceleration", "modifier": "Re-acceleration watch", "gate": "up", "direction": 88.426428, "energy": 80.875605, "activity_lines": [ 7.437333, 7.195273, 7.0197, 6.785201 ] }, { "date": "2026-02-06", "close": 8.11, "volume": 5774100, "typical_volume": 3531060.0, "trend": 6.562825, "fair_value": 7.842048, "relative_strength": -3.522306, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 81.604926, "energy": 87.838461, "activity_lines": [ 7.740667, 7.382364, 7.145498, 6.889051 ] }, { "date": "2026-02-13", "close": 7.81, "volume": 3057500, "typical_volume": 3591840.0, "trend": 6.622321, "fair_value": 7.816487, "relative_strength": -8.312887, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 64.039114, "energy": 82.370035, "activity_lines": [ 7.856667, 7.498, 7.233213, 6.969514 ] }, { "date": "2026-02-20", "close": 8.24, "volume": 1654700, "typical_volume": 3551220.0, "trend": 6.692193, "fair_value": 7.79758, "relative_strength": -4.845746, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 75.57058, "energy": 88.475725, "activity_lines": [ 8.048667, 7.672727, 7.353622, 7.07388 ] }, { "date": "2026-02-27", "close": 8.48, "volume": 3093200, "typical_volume": 3587745.0, "trend": 6.777065, "fair_value": 7.773072, "relative_strength": -0.734395, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 79.02957, "energy": 85.981511, "activity_lines": [ 8.226, 7.868, 7.486493, 7.189223 ] }, { "date": "2026-03-06", "close": 7.78, "volume": 3223800, "typical_volume": 3614960.0, "trend": 6.843168, "fair_value": 7.753301, "relative_strength": -3.624412, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 63.151698, "energy": 55.512382, "activity_lines": [ 8.084667, 7.907818, 7.53954, 7.253928 ] }, { "date": "2026-03-13", "close": 7.41, "volume": 3981600, "typical_volume": 3725970.0, "trend": 6.903328, "fair_value": 7.736688, "relative_strength": -6.793853, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 48.674142, "energy": 40.22744, "activity_lines": [ 7.86, 7.865636, 7.549364, 7.290498 ] }, { "date": "2026-03-20", "close": 7.26, "volume": 3800600, "typical_volume": 3662495.0, "trend": 6.954836, "fair_value": 7.719398, "relative_strength": -7.491129, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 34.983255, "energy": 21.625001, "activity_lines": [ 7.632, 7.785091, 7.539381, 7.313509 ] }, { "date": "2026-03-27", "close": 7.68, "volume": 5467000, "typical_volume": 3657760.0, "trend": 7.014867, "fair_value": 7.700425, "relative_strength": -4.669128, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 31.459151, "energy": 23.280291, "activity_lines": [ 7.580667, 7.772545, 7.569238, 7.360294 ] }, { "date": "2026-04-03", "close": 8.32, "volume": 4402000, "typical_volume": 3718885.0, "trend": 7.096121, "fair_value": 7.68836, "relative_strength": -0.035295, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 50.790554, "energy": 24.037494, "activity_lines": [ 7.78, 7.860727, 7.658619, 7.444496 ] }, { "date": "2026-04-10", "close": 8.4, "volume": 4540200, "typical_volume": 3848950.0, "trend": 7.175746, "fair_value": 7.672563, "relative_strength": -3.484074, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 61.637475, "energy": 35.203675, "activity_lines": [ 8.016667, 7.943091, 7.750048, 7.528617 ] }, { "date": "2026-04-17", "close": 8.17, "volume": 2537400, "typical_volume": 3820330.0, "trend": 7.24433, "fair_value": 7.658417, "relative_strength": -4.998436, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 54.031506, "energy": 38.312777, "activity_lines": [ 8.135333, 7.983273, 7.812429, 7.592763 ] }, { "date": "2026-04-24", "close": 8.09, "volume": 1768400, "typical_volume": 3682490.0, "trend": 7.311474, "fair_value": 7.644028, "relative_strength": -3.189156, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 53.38495, "energy": 43.40073, "activity_lines": [ 8.176667, 8.007818, 7.862476, 7.647322 ] }, { "date": "2026-05-01", "close": 7.69, "volume": 2232100, "typical_volume": 3650995.0, "trend": 7.365898, "fair_value": 7.627963, "relative_strength": -5.986949, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 50.311976, "energy": 31.630697, "activity_lines": [ 8.029333, 7.954545, 7.868095, 7.671743 ] }, { "date": "2026-05-08", "close": 7.3, "volume": 3159500, "typical_volume": 3626765.0, "trend": 7.418676, "fair_value": 7.610118, "relative_strength": -8.865227, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 16.514163, "energy": 10.120022, "activity_lines": [ 7.751333, 7.840364, 7.833143, 7.667492 ] }, { "date": "2026-05-15", "close": 6.57, "volume": 7185000, "typical_volume": 3883165.0, "trend": 7.434232, "fair_value": 7.585729, "relative_strength": -14.483777, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "mixed", "direction": -33.886037, "energy": 31.208846, "activity_lines": [ 7.298, 7.614909, 7.726905, 7.612738 ] }, { "date": "2026-05-22", "close": 6.11, "volume": 4960000, "typical_volume": 4045640.0, "trend": 7.429546, "fair_value": 7.55695, "relative_strength": -19.594577, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -44.309522, "energy": 60.678641, "activity_lines": [ 6.813333, 7.327818, 7.578762, 7.527304 ] }, { "date": "2026-05-29", "close": 6.18, "volume": 3877200, "typical_volume": 4078825.0, "trend": 7.394667, "fair_value": 7.533057, "relative_strength": -17.132509, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -48.961522, "energy": 72.734634, "activity_lines": [ 6.489333, 7.077091, 7.440571, 7.446688 ] }, { "date": "2026-06-05", "close": 6.2, "volume": 720200, "typical_volume": 3860390.0, "trend": 7.355333, "fair_value": 7.50922, "relative_strength": -14.107793, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -44.233367, "energy": 75.349474, "activity_lines": [ 6.299333, 6.849636, 7.307238, 7.369613 ] }, { "date": "2026-06-12", "close": 6.22, "volume": 852000, "typical_volume": 3689545.0, "trend": 7.324333, "fair_value": 7.488379, "relative_strength": -14.496323, "stage": 4, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -67.09425, "energy": 83.658017, "activity_lines": [ 6.215333, 6.652727, 7.178762, 7.296366 ] }, { "date": "2026-06-19", "close": 6.1, "volume": 669900, "typical_volume": 3347820.0, "trend": 7.297667, "fair_value": 7.46398, "relative_strength": -14.525143, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -69.721179, "energy": 83.36703, "activity_lines": [ 6.163333, 6.472182, 7.043524, 7.217376 ] }, { "date": "2026-06-26", "close": 6.09, "volume": 628300, "typical_volume": 3090530.0, "trend": 7.261333, "fair_value": 7.439542, "relative_strength": -16.602078, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -69.083203, "energy": 81.636942, "activity_lines": [ 6.139333, 6.331636, 6.91819, 7.139462 ] }, { "date": "2026-07-03", "close": 5.93, "volume": 376000, "typical_volume": 2956455.0, "trend": 7.233667, "fair_value": 7.413778, "relative_strength": -18.847405, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -74.203596, "energy": 83.092631, "activity_lines": [ 6.063333, 6.199818, 6.787238, 7.05357 ] }, { "date": "2026-07-10", "close": 6.0, "volume": 4012100, "typical_volume": 3074325.0, "trend": 7.201333, "fair_value": 7.388633, "relative_strength": -19.104293, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -68.2283, "energy": 80.307386, "activity_lines": [ 6.027333, 6.12, 6.671905, 6.973978 ] }, { "date": "2026-07-17", "close": 5.87, "volume": 2175000, "typical_volume": 3028415.0, "trend": 7.166, "fair_value": 7.36327, "relative_strength": -18.537851, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -72.533624, "energy": 82.303701, "activity_lines": [ 5.961333, 6.047273, 6.554857, 6.888086 ] }, { "date": "2026-07-24", "close": 6.04, "volume": 2420400, "typical_volume": 2988245.0, "trend": 7.135, "fair_value": 7.337674, "relative_strength": -15.895675, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -65.562133, "energy": 67.288023, "activity_lines": [ 5.975333, 6.031455, 6.466429, 6.815441 ] }, { "date": "2026-07-31", "close": 5.99, "volume": 2011200, "typical_volume": 2889725.0, "trend": 7.108, "fair_value": 7.309151, "relative_strength": -18.019976, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -63.420392, "energy": 59.616942, "activity_lines": [ 5.976667, 6.016182, 6.381524, 6.74157 ] }, { "date": "2026-08-07", "close": 5.68, "volume": 5332800, "typical_volume": 2966335.0, "trend": 7.070667, "fair_value": 7.286381, "relative_strength": -19.423428, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -76.806638, "energy": 64.698713, "activity_lines": [ 5.881333, 5.946727, 6.273857, 6.649441 ] } ], "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." } } }