{ "ticker": { "uuid": "d4f09e60-3d21-406c-ac65-0fd249622a42", "symbol": "XLUP", "name": "Invesco Utilities S&P US Select Sector UCITS ETF", "exchange": "LSE", "country": "GB", "assetType": "etf" }, "methodBoundary": "Trend Architecture is a weekly structural classification, not a forecast, probability of return, recommendation or execution signal. Confidence measures geometric agreement and external confirmation only.", "analysis": { "eligible": true, "as_of": "2026-08-07", "benchmark": "^FTSE", "stage": 3, "stage_name": "Distribution", "phase": "3c", "phase_label": "Stage 3C \u00b7 Breakdown watch", "transition": "stage_3_to_4_watch", "transition_label": "Stage 3 \u2192 4 watch", "confidence": 66.135, "architecture_regime": "deceleration", "architecture_regime_label": "Deceleration", "architecture_modifier": "Recompressing", "architecture_gate": "mixed", "architecture_direction": -26.39, "architecture_energy": 18.306, "architecture_maturity": 45.816, "architecture_confidence": 57.548, "architecture_tenure": "Established", "architecture": { "interpretation": { "headline": "The upward structure remains, but its energy is decelerating.", "body": "Trend remains positive, but Activity or price acceptance is losing strength. This can become a healthy recompression, a re-acceleration, or a Rotation Down." }, "scores": { "balance": 56.81, "rotation_up": 23.57, "upward_expansion": 23.0, "deceleration": 58.52, "rotation_down": 48.24, "downward_expansion": 32.0 }, "activity_lines": [ 48675.333333, 49109.272727, 49046.690476, 49155.05914 ], "activity_state": "Compressed", "activity_direction": "Contracting", "rotation_direction": "Weakening", "price_acceptance": 0.0 }, "latest_close": 47212.5, "trend_reference": 48930.75, "distance_from_trend": -0.035116, "trend_direction": "Improving", "fair_value": 42138.054487, "distance_from_fair_value": 0.120424, "fair_value_direction": "Weakening", "relative_strength": -9.287087, "relative_strength_direction": "Weakening", "price_momentum": 0.03593, "excess_performance": -0.015306, "evidence": [ { "label": "Price vs Trend", "positive": false, "value": -0.035116, "read": "Below" }, { "label": "Trend direction", "positive": true, "value": 0.014396, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.120424, "read": "Premium" }, { "label": "Fair Value direction", "positive": false, "value": -0.048347, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.092871, "read": "Lagging" }, { "label": "Relative strength direction", "positive": false, "value": -0.060273, "read": "Weakening" }, { "label": "Price momentum", "positive": true, "value": 0.03593, "read": "Positive" }, { "label": "Volume balance", "positive": true, "value": 1.304781, "read": "Demand-led" } ], "volume": { "latest": 1869, "relative_activity": 1.626066, "balance": 1.304781, "dry_up": 1.167566, "accumulation_observations": 3, "distribution_observations": 3 }, "risk": { "range_context": 0.030202, "annualized_volatility": 0.200206, "from_high_reference": -0.086622, "from_low_reference": 0.088598 }, "levels": { "trend_reference": 48930.75, "fair_value_reference": 42138.054487, "structural_low": 45630.0, "invalidation": "A decisive breakout above range resistance with renewed RS leadership invalidates the distribution reading; a range-low break confirms deterioration." }, "outcomes": [ { "horizon": "Near term", "sample_count": 17, "median_return": 0.036074, "positive_rate": 0.764706, "directional_follow_through": 0.764706, "median_excess_return": 0.00581, "regime_survival": 0.470588, "best_return": 0.108064, "worst_return": -0.046189, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 9, "median_return": 0.115061, "positive_rate": 0.888889, "directional_follow_through": 0.888889, "median_excess_return": 0.051614, "regime_survival": 0.222222, "best_return": 0.181445, "worst_return": -0.036862, "sufficient": true }, { "horizon": "Extended", "sample_count": 5, "median_return": 0.142253, "positive_rate": 0.8, "directional_follow_through": 0.8, "median_excess_return": 0.036913, "regime_survival": 0.2, "best_return": 0.213888, "worst_return": -0.030404, "sufficient": true }, { "horizon": "Full cycle", "sample_count": 3, "median_return": 0.143313, "positive_rate": 0.666667, "directional_follow_through": 0.666667, "median_excess_return": 0.067861, "regime_survival": 0.0, "best_return": 0.292252, "worst_return": -0.100249, "sufficient": false } ], "ledger": [ { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2024-08-09", "end": "2024-12-20", "tenure": "Established", "return": 0.062435, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2024-12-27", "end": "2025-01-17", "tenure": "New", "return": 0.073084, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-01-24", "end": "2025-02-28", "tenure": "Developing", "return": -0.020167, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-03-07", "end": "2025-03-28", "tenure": "New", "return": 0.027271, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2025-04-04", "end": "2025-04-11", "tenure": "New", "return": -0.034414, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-04-18", "end": "2025-07-04", "tenure": "Developing", "return": 0.017311, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-07-11", "end": "2025-07-18", "tenure": "New", "return": 0.023039, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2025-07-25", "end": "2025-08-15", "tenure": "New", "return": 0.002574, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-08-22", "end": "2025-09-05", "tenure": "New", "return": -0.034523, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2025-09-12", "end": "2025-10-03", "tenure": "New", "return": 0.060409, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-10-10", "end": "2025-12-05", "tenure": "Developing", "return": -0.043916, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2025-12-12", "end": "2026-02-27", "tenure": "Developing", "return": 0.109734, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-03-06", "end": "2026-04-24", "tenure": "Developing", "return": -0.016485, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2026-05-01", "end": "2026-08-07", "tenure": "Established", "return": -0.058011, "active": true } ], "chart_path": [ { "date": "2023-08-18", "close": 33725.5, "volume": 226, "typical_volume": 1959.1, "trend": 36020.566667, "fair_value": 34144.320513, "relative_strength": -7.078367, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -77.747745, "energy": 70.712177, "activity_lines": [ 34366.9, 34626.681818, 35056.430952, 35478.73871 ] }, { "date": "2023-08-25", "close": 34393.0, "volume": 326, "typical_volume": 1678.0, "trend": 35929.883333, "fair_value": 34188.262821, "relative_strength": -5.831194, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -60.144261, "energy": 70.638712, "activity_lines": [ 34247.1, 34554.490909, 34940.62619, 35373.734409 ] }, { "date": "2023-09-01", "close": 33709.5, "volume": 1540, "typical_volume": 1627.35, "trend": 35808.233333, "fair_value": 34225.121795, "relative_strength": -8.752566, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -72.36787, "energy": 77.579116, "activity_lines": [ 34006.4, 34376.718182, 34774.497619, 35230.483871 ] }, { "date": "2023-09-08", "close": 34098.0, "volume": 336, "typical_volume": 1488.95, "trend": 35702.966667, "fair_value": 34259.227564, "relative_strength": -7.347281, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -61.888081, "energy": 65.696232, "activity_lines": [ 34014.5, 34293.454545, 34662.3, 35120.146237 ] }, { "date": "2023-09-15", "close": 35590.0, "volume": 1165, "typical_volume": 1466.45, "trend": 35622.95, "fair_value": 34304.794872, "relative_strength": -5.720576, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -27.384542, "energy": 22.070603, "activity_lines": [ 34532.133333, 34490.072727, 34709.047619, 35112.858065 ] }, { "date": "2023-09-22", "close": 35335.0, "volume": 172, "typical_volume": 1386.65, "trend": 35570.366667, "fair_value": 34345.842949, "relative_strength": -5.468457, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -22.781659, "energy": 14.821332, "activity_lines": [ 34876.066667, 34623.127273, 34738.361905, 35094.280645 ] }, { "date": "2023-09-29", "close": 33107.5, "volume": 1689, "typical_volume": 1451.85, "trend": 35453.583333, "fair_value": 34368.929487, "relative_strength": -10.049042, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -57.445977, "energy": 26.951583, "activity_lines": [ 34370.2, 34335.627273, 34561.221429, 34935.386022 ] }, { "date": "2023-10-06", "close": 31135.5, "volume": 9490, "typical_volume": 1897.15, "trend": 35285.25, "fair_value": 34371.057692, "relative_strength": -13.664081, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -82.517313, "energy": 53.317685, "activity_lines": [ 33292.7, 33742.118182, 34215.247619, 34656.8 ] }, { "date": "2023-10-13", "close": 33230.5, "volume": 795, "typical_volume": 1754.9, "trend": 35166.75, "fair_value": 34383.224359, "relative_strength": -8.758904, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -55.406684, "energy": 62.980301, "activity_lines": [ 33085.133333, 33608.854545, 34090.795238, 34524.235484 ] }, { "date": "2023-10-20", "close": 33004.0, "volume": 621, "typical_volume": 1540.55, "trend": 35078.733333, "fair_value": 34393.560897, "relative_strength": -6.630996, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -57.973119, "energy": 73.00478, "activity_lines": [ 32859.9, 33453.509091, 33952.845238, 34384.703226 ] }, { "date": "2023-10-27", "close": 33189.0, "volume": 1950, "typical_volume": 1534.1, "trend": 34965.7, "fair_value": 34409.839744, "relative_strength": -4.348522, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -57.400679, "energy": 66.682732, "activity_lines": [ 32868.733333, 33354.627273, 33842.342857, 34262.784946 ] }, { "date": "2023-11-03", "close": 34420.0, "volume": 1684, "typical_volume": 1548.8, "trend": 34863.2, "fair_value": 34432.016026, "relative_strength": -2.225346, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -43.867508, "energy": 26.600707, "activity_lines": [ 33430.966667, 33489.318182, 33859.997619, 34227.578495 ] }, { "date": "2023-11-10", "close": 33640.5, "volume": 2961, "typical_volume": 1658.4, "trend": 34742.383333, "fair_value": 34444.762821, "relative_strength": -3.438845, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -33.327617, "energy": 17.742245, "activity_lines": [ 33645.866667, 33481.790909, 33808.180952, 34148.694624 ] }, { "date": "2023-11-17", "close": 34020.5, "volume": 2172, "typical_volume": 1644.4, "trend": 34621.85, "fair_value": 34468.400641, "relative_strength": -3.970869, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -27.622854, "energy": 17.086026, "activity_lines": [ 33820.433333, 33544.609091, 33799.135714, 34102.121505 ] }, { "date": "2023-11-24", "close": 33778.0, "volume": 850, "typical_volume": 1660.7, "trend": 34513.483333, "fair_value": 34491.753205, "relative_strength": -4.182787, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -25.841342, "energy": 17.92731, "activity_lines": [ 33861.5, 33564.745455, 33769.619048, 34047.67957 ] }, { "date": "2023-12-01", "close": 33847.5, "volume": 1824, "typical_volume": 1708.6, "trend": 34424.083333, "fair_value": 34520.435897, "relative_strength": -4.287225, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -26.7572, "energy": 13.597154, "activity_lines": [ 33874.133333, 33630.463636, 33750.845238, 34004.712903 ] }, { "date": "2023-12-08", "close": 34293.0, "volume": 939, "typical_volume": 1632.4, "trend": 34330.766667, "fair_value": 34550.746795, "relative_strength": -3.112574, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -7.838843, "energy": 7.365845, "activity_lines": [ 33991.366667, 33804.227273, 33777.509524, 33996.255914 ] }, { "date": "2023-12-15", "close": 34468.0, "volume": 1983, "typical_volume": 1642.7, "trend": 34287.866667, "fair_value": 34583.307692, "relative_strength": -2.638679, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -4.693665, "energy": 8.85787, "activity_lines": [ 34175.4, 33988.254545, 33828.954762, 34005.109677 ] }, { "date": "2023-12-22", "close": 33742.5, "volume": 1893, "typical_volume": 1680.55, "trend": 34248.416667, "fair_value": 34616.772436, "relative_strength": -5.867454, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -14.485677, "energy": 10.519794, "activity_lines": [ 34062.433333, 33979.781818, 33816.214286, 33969.924731 ] }, { "date": "2023-12-29", "close": 34230.0, "volume": 240, "typical_volume": 1642.8, "trend": 34220.483333, "fair_value": 34651.878205, "relative_strength": -4.611059, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -7.528746, "energy": 10.173509, "activity_lines": [ 34130.5, 34050.636364, 33852.466667, 33968.736559 ] }, { "date": "2024-01-05", "close": 34815.0, "volume": 991, "typical_volume": 1681.05, "trend": 34198.25, "fair_value": 34688.387821, "relative_strength": -2.190846, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 24.086706, "energy": 29.845726, "activity_lines": [ 34363.433333, 34205.563636, 33944.57381, 34007.092473 ] }, { "date": "2024-01-12", "close": 34131.0, "volume": 541, "typical_volume": 1691.8, "trend": 34155.25, "fair_value": 34718.878205, "relative_strength": -3.102287, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 11.272179, "energy": 15.317471, "activity_lines": [ 34303.866667, 34206.563636, 33966.35, 34002.753763 ] }, { "date": "2024-01-19", "close": 33013.0, "volume": 2650, "typical_volume": 1747.3, "trend": 34088.266667, "fair_value": 34743.730769, "relative_strength": -4.09528, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -44.414979, "energy": 17.744308, "activity_lines": [ 33882.433333, 34009.545455, 33882.897619, 33929.060215 ] }, { "date": "2024-01-26", "close": 33115.0, "volume": 1622, "typical_volume": 1811.6, "trend": 34039.716667, "fair_value": 34770.403846, "relative_strength": -5.807601, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -47.055043, "energy": 29.19202, "activity_lines": [ 33592.0, 33842.481818, 33812.47619, 33866.268817 ] }, { "date": "2024-02-02", "close": 33471.0, "volume": 2291, "typical_volume": 1867.9, "trend": 34000.616667, "fair_value": 34795.432692, "relative_strength": -4.417114, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -47.371158, "energy": 36.678607, "activity_lines": [ 33462.066667, 33756.609091, 33780.640476, 33829.577419 ] }, { "date": "2024-02-09", "close": 32578.0, "volume": 637, "typical_volume": 1891.15, "trend": 33937.233333, "fair_value": 34819.544872, "relative_strength": -6.273873, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -69.891992, "energy": 64.913095, "activity_lines": [ 33085.066667, 33513.954545, 33673.847619, 33737.795699 ] }, { "date": "2024-02-16", "close": 33408.0, "volume": 8566, "typical_volume": 2235.0, "trend": 33850.933333, "fair_value": 34853.955128, "relative_strength": -5.455621, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -55.448049, "energy": 58.557721, "activity_lines": [ 33133.866667, 33445.290909, 33659.230952, 33703.651613 ] }, { "date": "2024-02-23", "close": 33577.5, "volume": 430, "typical_volume": 1782.0, "trend": 33786.883333, "fair_value": 34895.182692, "relative_strength": -4.778285, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -51.672891, "energy": 41.026602, "activity_lines": [ 33287.366667, 33423.536364, 33659.32619, 33686.010753 ] }, { "date": "2024-03-01", "close": 33286.0, "volume": 2669, "typical_volume": 1875.7, "trend": 33753.716667, "fair_value": 34934.730769, "relative_strength": -5.203299, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -51.00163, "energy": 29.981205, "activity_lines": [ 33306.066667, 33364.972727, 33620.030952, 33653.695699 ] }, { "date": "2024-03-08", "close": 33991.0, "volume": 431, "typical_volume": 1866.2, "trend": 33744.766667, "fair_value": 34971.089744, "relative_strength": -2.812309, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -21.10525, "energy": 12.723521, "activity_lines": [ 33548.366667, 33442.890909, 33647.614286, 33669.004301 ] }, { "date": "2024-03-15", "close": 34118.5, "volume": 3952, "typical_volume": 1966.3, "trend": 33757.866667, "fair_value": 35007.057692, "relative_strength": -3.057631, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 4.490972, "energy": 12.329199, "activity_lines": [ 33798.5, 33548.336364, 33682.640476, 33693.116129 ] }, { "date": "2024-03-22", "close": 35084.0, "volume": 580, "typical_volume": 1911.1, "trend": 33780.9, "fair_value": 35044.483974, "relative_strength": -2.712147, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 45.805519, "energy": 41.740364, "activity_lines": [ 34267.766667, 33841.990909, 33805.192857, 33778.673118 ] }, { "date": "2024-03-29", "close": 35834.0, "volume": 988, "typical_volume": 1812.45, "trend": 33851.716667, "fair_value": 35084.637821, "relative_strength": -0.78302, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 83.784438, "energy": 80.119289, "activity_lines": [ 34875.3, 34254.681818, 33996.011905, 33911.131183 ] }, { "date": "2024-04-05", "close": 35587.5, "volume": 3838, "typical_volume": 1895.75, "trend": 33901.366667, "fair_value": 35118.221154, "relative_strength": -0.805001, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 74.932625, "energy": 82.940094, "activity_lines": [ 35250.233333, 34571.263636, 34152.909524, 34023.117204 ] }, { "date": "2024-04-12", "close": 35891.5, "volume": 2603, "typical_volume": 1983.4, "trend": 33911.416667, "fair_value": 35149.336538, "relative_strength": -0.910713, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 78.95942, "energy": 88.78329, "activity_lines": [ 35573.066667, 34898.163636, 34331.297619, 34151.512903 ] }, { "date": "2024-04-19", "close": 36366.0, "volume": 1333, "typical_volume": 1958.85, "trend": 33945.783333, "fair_value": 35184.599359, "relative_strength": 1.731766, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 82.723584, "energy": 92.554345, "activity_lines": [ 35927.366667, 35267.327273, 34544.811905, 34309.873118 ] }, { "date": "2024-04-26", "close": 36807.0, "volume": 2672, "typical_volume": 2045.5, "trend": 34069.1, "fair_value": 35223.403846, "relative_strength": -0.04216, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 84.467153, "energy": 92.655005, "activity_lines": [ 36278.833333, 35647.8, 34788.333333, 34494.467742 ] }, { "date": "2024-05-03", "close": 37509.0, "volume": 3074, "typical_volume": 2100.05, "trend": 34281.55, "fair_value": 35268.512821, "relative_strength": 1.005864, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 88.889578, "energy": 94.228937, "activity_lines": [ 36749.433333, 36094.109091, 35086.740476, 34716.396774 ] }, { "date": "2024-05-10", "close": 39438.5, "volume": 1017, "typical_volume": 2056.25, "trend": 34488.483333, "fair_value": 35328.903846, "relative_strength": 3.474717, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 97.218619, "energy": 98.138526, "activity_lines": [ 37751.533333, 36819.754545, 35554.428571, 35049.103226 ] }, { "date": "2024-05-17", "close": 39411.0, "volume": 3050, "typical_volume": 2196.75, "trend": 34702.05, "fair_value": 35390.727564, "relative_strength": 3.537052, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 90.981734, "energy": 96.464924, "activity_lines": [ 38487.733333, 37428.536364, 35992.37381, 35366.684946 ] }, { "date": "2024-05-24", "close": 38896.0, "volume": 708, "typical_volume": 2182.6, "trend": 34892.283333, "fair_value": 35451.461538, "relative_strength": 3.40303, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 71.87976, "energy": 89.460817, "activity_lines": [ 38817.633333, 37845.136364, 36356.6, 35637.262366 ] }, { "date": "2024-05-31", "close": 39021.5, "volume": 441, "typical_volume": 2177.6, "trend": 35045.666667, "fair_value": 35511.528846, "relative_strength": 4.218867, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 69.781393, "energy": 87.853069, "activity_lines": [ 39020.7, 38197.690909, 36713.345238, 35903.663441 ] }, { "date": "2024-06-07", "close": 38245.0, "volume": 1218, "typical_volume": 2106.0, "trend": 35199.15, "fair_value": 35565.195513, "relative_strength": 2.53997, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 67.606941, "energy": 66.696124, "activity_lines": [ 38817.3, 38337.472727, 36972.85, 36110.072043 ] }, { "date": "2024-06-14", "close": 38031.5, "volume": 2731, "typical_volume": 2161.45, "trend": 35332.85, "fair_value": 35616.080128, "relative_strength": 3.185652, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 63.937356, "energy": 60.745979, "activity_lines": [ 38493.666667, 38394.6, 37187.107143, 36292.804301 ] }, { "date": "2024-06-21", "close": 38044.0, "volume": 1186, "typical_volume": 2106.2, "trend": 35475.05, "fair_value": 35671.429487, "relative_strength": 2.114481, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 50.547367, "energy": 47.993398, "activity_lines": [ 38268.0, 38409.563636, 37379.142857, 36467.717204 ] }, { "date": "2024-06-28", "close": 37628.0, "volume": 1335, "typical_volume": 2141.1, "trend": 35601.066667, "fair_value": 35721.217949, "relative_strength": 1.900289, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 44.297095, "energy": 35.173549, "activity_lines": [ 37994.8, 38309.754545, 37509.783333, 36606.617204 ] }, { "date": "2024-07-05", "close": 37264.5, "volume": 3451, "typical_volume": 1885.35, "trend": 35700.116667, "fair_value": 35768.25, "relative_strength": 0.525323, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 38.479144, "energy": 27.202815, "activity_lines": [ 37684.966667, 38120.909091, 37581.757143, 36713.935484 ] }, { "date": "2024-07-12", "close": 38268.5, "volume": 2585, "typical_volume": 1993.1, "trend": 35826.8, "fair_value": 35815.108974, "relative_strength": 2.621119, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 42.277316, "energy": 26.585952, "activity_lines": [ 37826.933333, 38106.290909, 37730.985714, 36879.637634 ] }, { "date": "2024-07-19", "close": 37682.0, "volume": 5939, "typical_volume": 2156.6, "trend": 35958.116667, "fair_value": 35860.474359, "relative_strength": 2.286069, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 36.036223, "energy": 21.366855, "activity_lines": [ 37771.833333, 37971.227273, 37802.019048, 36999.327957 ] }, { "date": "2024-07-26", "close": 38514.0, "volume": 5247, "typical_volume": 2397.4, "trend": 36100.916667, "fair_value": 35909.455128, "relative_strength": 2.88908, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 51.188143, "energy": 30.748701, "activity_lines": [ 38017.366667, 38019.372727, 37931.357143, 37164.223656 ] }, { "date": "2024-08-02", "close": 39945.0, "volume": 5588, "typical_volume": 2479.2, "trend": 36271.916667, "fair_value": 35964.00641, "relative_strength": 7.997959, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 78.189328, "energy": 52.488421, "activity_lines": [ 38708.566667, 38344.009091, 38175.442857, 37412.229032 ] }, { "date": "2024-08-09", "close": 39937.5, "volume": 3537, "typical_volume": 2627.05, "trend": 36465.466667, "fair_value": 36015.602564, "relative_strength": 7.910728, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 76.032514, "energy": 69.801575, "activity_lines": [ 39242.8, 38648.209091, 38391.069048, 37648.71828 ] }, { "date": "2024-08-16", "close": 40180.0, "volume": 646, "typical_volume": 2609.95, "trend": 36704.366667, "fair_value": 36062.0, "relative_strength": 6.607946, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 76.371193, "energy": 82.006996, "activity_lines": [ 39679.666667, 38979.845455, 38606.678571, 37888.365591 ] }, { "date": "2024-08-23", "close": 39796.5, "volume": 557, "typical_volume": 2445.9, "trend": 36927.083333, "fair_value": 36110.717949, "relative_strength": 5.341316, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 64.565306, "energy": 79.8531, "activity_lines": [ 39861.266667, 39206.572727, 38765.069048, 38087.858065 ] }, { "date": "2024-08-30", "close": 40179.0, "volume": 318, "typical_volume": 2331.65, "trend": 37150.683333, "fair_value": 36160.073718, "relative_strength": 5.608582, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 69.064548, "energy": 77.711996, "activity_lines": [ 40029.4, 39470.754545, 38939.845238, 38297.65914 ] }, { "date": "2024-09-06", "close": 40442.0, "volume": 2714, "typical_volume": 2400.7, "trend": 37412.816667, "fair_value": 36214.599359, "relative_strength": 8.658322, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 72.192443, "energy": 72.271381, "activity_lines": [ 40174.2, 39743.936364, 39119.252381, 38510.002151 ] }, { "date": "2024-09-13", "close": 41387.0, "volume": 2113, "typical_volume": 2372.75, "trend": 37678.783333, "fair_value": 36278.897436, "relative_strength": 9.786375, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 82.725475, "energy": 72.500913, "activity_lines": [ 40600.866667, 40137.772727, 39369.25, 38766.401075 ] }, { "date": "2024-09-20", "close": 41535.0, "volume": 4517, "typical_volume": 2444.9, "trend": 37944.033333, "fair_value": 36346.871795, "relative_strength": 10.546858, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 79.094775, "energy": 75.742836, "activity_lines": [ 40980.233333, 40483.563636, 39611.533333, 39015.189247 ] }, { "date": "2024-09-27", "close": 42057.5, "volume": 693, "typical_volume": 2428.7, "trend": 38236.416667, "fair_value": 36419.942308, "relative_strength": 10.389159, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 81.065335, "energy": 85.710272, "activity_lines": [ 41443.433333, 40864.963636, 39884.407143, 39280.574194 ] }, { "date": "2024-10-04", "close": 43269.5, "volume": 3353, "typical_volume": 2443.85, "trend": 38545.7, "fair_value": 36498.945513, "relative_strength": 13.610629, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 89.444003, "energy": 92.034654, "activity_lines": [ 42159.9, 41387.172727, 40260.238095, 39605.289247 ] }, { "date": "2024-10-11", "close": 42328.5, "volume": 4290, "typical_volume": 2622.95, "trend": 38819.366667, "fair_value": 36571.823718, "relative_strength": 11.150872, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 67.186379, "energy": 80.38941, "activity_lines": [ 42356.666667, 41651.827273, 40528.07619, 39849.34086 ] }, { "date": "2024-10-18", "close": 43908.0, "volume": 4058, "typical_volume": 2803.8, "trend": 39113.5, "fair_value": 36650.246795, "relative_strength": 13.479822, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 84.346723, "energy": 84.58811, "activity_lines": [ 42954.166667, 42160.327273, 40929.997619, 40177.639785 ] }, { "date": "2024-10-25", "close": 43792.0, "volume": 1939, "typical_volume": 2839.85, "trend": 39378.766667, "fair_value": 36727.407051, "relative_strength": 14.322917, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 76.464398, "energy": 79.404668, "activity_lines": [ 43344.933333, 42575.545455, 41297.602381, 40479.478495 ] }, { "date": "2024-11-01", "close": 42756.0, "volume": 3484, "typical_volume": 2877.5, "trend": 39617.716667, "fair_value": 36795.003205, "relative_strength": 12.321969, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 65.534098, "energy": 64.825311, "activity_lines": [ 43239.9, 42736.727273, 41540.12619, 40697.364516 ] }, { "date": "2024-11-08", "close": 42648.0, "volume": 1564, "typical_volume": 2896.4, "trend": 39842.933333, "fair_value": 36861.99359, "relative_strength": 13.159554, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 63.431903, "energy": 60.976221, "activity_lines": [ 43052.3, 42824.463636, 41749.866667, 40892.866667 ] }, { "date": "2024-11-15", "close": 43644.0, "volume": 1533, "typical_volume": 2906.3, "trend": 40085.533333, "fair_value": 36934.833333, "relative_strength": 15.510435, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 70.508675, "energy": 59.267165, "activity_lines": [ 43238.133333, 43048.4, 42032.540476, 41138.096774 ] }, { "date": "2024-11-22", "close": 45671.0, "volume": 768, "typical_volume": 2772.15, "trend": 40381.0, "fair_value": 37019.320513, "relative_strength": 17.480806, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 87.446421, "energy": 67.043632, "activity_lines": [ 44011.933333, 43582.663636, 42479.614286, 41498.449462 ] }, { "date": "2024-11-29", "close": 45651.5, "volume": 826, "typical_volume": 2684.2, "trend": 40652.416667, "fair_value": 37102.461538, "relative_strength": 16.590739, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 81.928244, "energy": 69.700812, "activity_lines": [ 44661.7, 44035.490909, 42884.8, 41838.48172 ] }, { "date": "2024-12-06", "close": 43797.5, "volume": 1696, "typical_volume": 2472.05, "trend": 40797.716667, "fair_value": 37165.602564, "relative_strength": 11.237609, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 63.165279, "energy": 59.879733, "activity_lines": [ 44569.5, 44076.381818, 43078.257143, 42041.390323 ] }, { "date": "2024-12-13", "close": 43169.0, "volume": 585, "typical_volume": 2238.95, "trend": 40922.983333, "fair_value": 37221.160256, "relative_strength": 9.461564, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 61.086652, "energy": 53.070614, "activity_lines": [ 44198.366667, 43971.363636, 43182.735714, 42194.376344 ] }, { "date": "2024-12-20", "close": 42431.0, "volume": 894, "typical_volume": 2004.25, "trend": 41040.816667, "fair_value": 37275.50641, "relative_strength": 10.075503, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 43.690283, "energy": 30.93009, "activity_lines": [ 43546.5, 43733.990909, 43194.761905, 42291.667742 ] }, { "date": "2024-12-27", "close": 42649.5, "volume": 235, "typical_volume": 1839.15, "trend": 41161.75, "fair_value": 37327.496795, "relative_strength": 9.401172, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 32.49302, "energy": 25.324424, "activity_lines": [ 43048.333333, 43534.481818, 43215.759524, 42395.453763 ] }, { "date": "2025-01-03", "close": 43941.0, "volume": 356, "typical_volume": 1824.65, "trend": 41351.616667, "fair_value": 37392.919872, "relative_strength": 11.332084, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 38.403301, "energy": 25.93758, "activity_lines": [ 43182.1, 43592.672727, 43346.842857, 42574.760215 ] }, { "date": "2025-01-10", "close": 43657.5, "volume": 2556, "typical_volume": 1924.6, "trend": 41539.15, "fair_value": 37461.003205, "relative_strength": 9.925574, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 34.590187, "energy": 20.536031, "activity_lines": [ 43335.4, 43596.609091, 43433.016667, 42723.526882 ] }, { "date": "2025-01-17", "close": 45766.5, "volume": 1938, "typical_volume": 2005.6, "trend": 41796.566667, "fair_value": 37540.448718, "relative_strength": 11.332392, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 75.253689, "energy": 44.801428, "activity_lines": [ 44201.033333, 43967.609091, 43701.661905, 42996.25914 ] }, { "date": "2025-01-24", "close": 44825.0, "volume": 1976, "typical_volume": 1968.7, "trend": 42036.466667, "fair_value": 37620.009615, "relative_strength": 8.673772, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 62.078744, "energy": 52.542478, "activity_lines": [ 44579.666667, 44110.727273, 43854.033333, 43191.641935 ] }, { "date": "2025-01-31", "close": 44441.5, "volume": 2930, "typical_volume": 2009.55, "trend": 42275.7, "fair_value": 37693.871795, "relative_strength": 5.308414, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 56.854892, "energy": 49.110985, "activity_lines": [ 44670.866667, 44162.645455, 43949.009524, 43346.805376 ] }, { "date": "2025-02-07", "close": 44562.0, "volume": 836, "typical_volume": 1825.5, "trend": 42485.483333, "fair_value": 37772.464744, "relative_strength": 4.932357, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 56.463128, "energy": 48.996135, "activity_lines": [ 44682.766667, 44258.827273, 44040.916667, 43494.308602 ] }, { "date": "2025-02-14", "close": 44494.0, "volume": 555, "typical_volume": 1818.6, "trend": 42712.55, "fair_value": 37853.185897, "relative_strength": 4.075392, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 51.790172, "energy": 33.846455, "activity_lines": [ 44630.6, 44362.454545, 44111.933333, 43623.890323 ] }, { "date": "2025-02-21", "close": 44804.5, "volume": 99, "typical_volume": 1655.9, "trend": 42922.233333, "fair_value": 37931.38141, "relative_strength": 5.348314, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 54.387565, "energy": 32.613804, "activity_lines": [ 44626.166667, 44509.872727, 44200.919048, 43758.854839 ] }, { "date": "2025-02-28", "close": 43921.0, "volume": 366, "typical_volume": 1459.7, "trend": 43054.766667, "fair_value": 37991.25641, "relative_strength": 1.250263, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 37.104293, "energy": 21.495523, "activity_lines": [ 44391.366667, 44466.918182, 44198.452381, 43823.291398 ] }, { "date": "2025-03-07", "close": 41710.5, "volume": 1186, "typical_volume": 1316.1, "trend": 43113.866667, "fair_value": 38031.410256, "relative_strength": -2.547637, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": -0.577678, "energy": 10.047274, "activity_lines": [ 43480.0, 43994.963636, 43977.878571, 43736.564516 ] }, { "date": "2025-03-14", "close": 42685.5, "volume": 1176, "typical_volume": 1277.95, "trend": 43197.383333, "fair_value": 38080.275641, "relative_strength": 0.073598, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -18.312451, "energy": 23.008899, "activity_lines": [ 43075.7, 43717.354545, 43860.62619, 43708.927957 ] }, { "date": "2025-03-21", "close": 42922.5, "volume": 201, "typical_volume": 1113.8, "trend": 43301.583333, "fair_value": 38124.641026, "relative_strength": 0.249692, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -15.803398, "energy": 28.11732, "activity_lines": [ 42875.5, 43505.663636, 43771.214286, 43691.193548 ] }, { "date": "2025-03-28", "close": 42848.0, "volume": 561, "typical_volume": 1063.65, "trend": 43390.55, "fair_value": 38160.74359, "relative_strength": -0.235609, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -16.91075, "energy": 36.410726, "activity_lines": [ 42755.233333, 43293.790909, 43673.914286, 43661.930108 ] }, { "date": "2025-04-04", "close": 42047.0, "volume": 1541, "typical_volume": 1064.05, "trend": 43444.05, "fair_value": 38181.102564, "relative_strength": 4.945508, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -36.326592, "energy": 47.852468, "activity_lines": [ 42498.4, 42989.345455, 43499.37619, 43575.249462 ] }, { "date": "2025-04-11", "close": 40600.0, "volume": 1301, "typical_volume": 1090.7, "trend": 43417.816667, "fair_value": 38195.929487, "relative_strength": 2.248522, "stage": 3, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -74.51827, "energy": 60.90802, "activity_lines": [ 41884.166667, 42472.318182, 43194.633333, 43391.762366 ] }, { "date": "2025-04-18", "close": 41880.0, "volume": 420, "typical_volume": 1070.4, "trend": 43429.316667, "fair_value": 38218.88141, "relative_strength": 1.324323, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -57.608649, "energy": 55.319879, "activity_lines": [ 41770.633333, 42257.863636, 43035.942857, 43292.548387 ] }, { "date": "2025-04-25", "close": 41545.0, "volume": 508, "typical_volume": 1011.0, "trend": 43412.233333, "fair_value": 38242.621795, "relative_strength": -1.311269, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -58.852086, "energy": 56.833962, "activity_lines": [ 41599.133333, 42031.263636, 42863.307143, 43170.97957 ] }, { "date": "2025-05-02", "close": 42492.5, "volume": 355, "typical_volume": 999.5, "trend": 43386.333333, "fair_value": 38270.208333, "relative_strength": -1.329749, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -55.932786, "energy": 41.618027, "activity_lines": [ 41835.3, 42030.554545, 42791.635714, 43111.641935 ] }, { "date": "2025-05-09", "close": 42657.5, "volume": 520, "typical_volume": 980.8, "trend": 43397.3, "fair_value": 38298.919872, "relative_strength": -0.583288, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -41.031921, "energy": 24.124604, "activity_lines": [ 42150.166667, 42101.881818, 42738.9, 43064.62043 ] }, { "date": "2025-05-16", "close": 43647.5, "volume": 2312, "typical_volume": 1084.65, "trend": 43388.616667, "fair_value": 38338.865385, "relative_strength": 0.071105, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -22.645774, "energy": 14.678297, "activity_lines": [ 42754.333333, 42376.181818, 42779.371429, 43080.762366 ] }, { "date": "2025-05-23", "close": 42077.5, "volume": 1203, "typical_volume": 1127.0, "trend": 43331.466667, "fair_value": 38359.432692, "relative_strength": -3.953277, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -33.463044, "energy": 19.307856, "activity_lines": [ 42632.0, 42329.809091, 42665.566667, 42996.174194 ] }, { "date": "2025-05-30", "close": 42770.0, "volume": 513, "typical_volume": 1024.85, "trend": 43331.933333, "fair_value": 38385.461538, "relative_strength": -3.037413, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -28.607771, "energy": 17.1764, "activity_lines": [ 42727.333333, 42420.4, 42626.588095, 42959.950538 ] }, { "date": "2025-06-06", "close": 42295.0, "volume": 2928, "typical_volume": 1074.35, "trend": 43320.166667, "fair_value": 38413.525641, "relative_strength": -4.878491, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -31.916109, "energy": 15.685766, "activity_lines": [ 42582.666667, 42427.4, 42546.597619, 42893.051613 ] }, { "date": "2025-06-13", "close": 42555.0, "volume": 451, "typical_volume": 998.1, "trend": 43283.866667, "fair_value": 38462.910256, "relative_strength": -4.482164, "stage": 3, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -31.664262, "energy": 16.107805, "activity_lines": [ 42537.833333, 42491.727273, 42507.9, 42843.686022 ] }, { "date": "2025-06-20", "close": 42740.0, "volume": 879, "typical_volume": 895.55, "trend": 43186.166667, "fair_value": 38500.99359, "relative_strength": -3.330383, "stage": 3, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -29.716637, "energy": 13.053758, "activity_lines": [ 42561.5, 42580.454545, 42497.630952, 42808.597849 ] }, { "date": "2025-06-27", "close": 42425.0, "volume": 451, "typical_volume": 876.3, "trend": 43078.616667, "fair_value": 38522.442308, "relative_strength": -4.384379, "stage": 3, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -33.240302, "energy": 15.288156, "activity_lines": [ 42540.666667, 42573.0, 42465.464286, 42759.490323 ] }, { "date": "2025-07-04", "close": 42605.0, "volume": 2665, "typical_volume": 981.8, "trend": 43038.866667, "fair_value": 38550.025641, "relative_strength": -4.344455, "stage": 3, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -30.218999, "energy": 12.753364, "activity_lines": [ 42556.666667, 42588.363636, 42460.616667, 42728.934409 ] }, { "date": "2025-07-11", "close": 43405.0, "volume": 1613, "typical_volume": 1057.5, "trend": 43046.733333, "fair_value": 38579.201923, "relative_strength": -3.916242, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -4.561575, "energy": 8.699232, "activity_lines": [ 42850.333333, 42729.909091, 42540.954762, 42752.555914 ] }, { "date": "2025-07-18", "close": 44405.0, "volume": 1069, "typical_volume": 1092.65, "trend": 43112.533333, "fair_value": 38619.448718, "relative_strength": -2.378216, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 30.442169, "energy": 39.093186, "activity_lines": [ 43403.333333, 43036.681818, 42723.195238, 42840.186022 ] }, { "date": "2025-07-25", "close": 44682.5, "volume": 944, "typical_volume": 1080.55, "trend": 43180.3, "fair_value": 38648.278846, "relative_strength": -3.241276, "stage": 3, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 35.173745, "energy": 54.793044, "activity_lines": [ 43925.5, 43362.136364, 42929.559524, 42941.474194 ] }, { "date": "2025-08-01", "close": 46115.0, "volume": 1062, "typical_volume": 1074.85, "trend": 43252.766667, "fair_value": 38684.355769, "relative_strength": 0.354333, "stage": 3, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 57.750452, "energy": 74.651852, "activity_lines": [ 44795.666667, 43929.227273, 43258.2, 43130.809677 ] }, { "date": "2025-08-08", "close": 45820.0, "volume": 1203, "typical_volume": 1124.95, "trend": 43324.85, "fair_value": 38711.842949, "relative_strength": -0.640577, "stage": 3, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 49.665629, "energy": 75.641584, "activity_lines": [ 45321.5, 44369.272727, 43542.414286, 43296.437634 ] }, { "date": "2025-08-15", "close": 44797.5, "volume": 1577, "typical_volume": 1175.75, "trend": 43292.55, "fair_value": 38720.753205, "relative_strength": -3.341794, "stage": 3, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "up", "direction": 66.170729, "energy": 80.146628, "activity_lines": [ 45292.166667, 44567.954545, 43715.45, 43391.447312 ] }, { "date": "2025-08-22", "close": 45332.5, "volume": 2022, "typical_volume": 1199.8, "trend": 43309.466667, "fair_value": 38736.708333, "relative_strength": -4.133199, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 64.85132, "energy": 79.179366, "activity_lines": [ 45348.333333, 44818.409091, 43930.154762, 43523.056989 ] }, { "date": "2025-08-29", "close": 44545.0, "volume": 1572, "typical_volume": 1213.35, "trend": 43312.916667, "fair_value": 38744.384615, "relative_strength": -4.442394, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 60.03643, "energy": 49.320535, "activity_lines": [ 45080.166667, 44875.181818, 44054.214286, 43602.768817 ] }, { "date": "2025-09-05", "close": 43767.5, "volume": 2475, "typical_volume": 1316.1, "trend": 43286.433333, "fair_value": 38741.660256, "relative_strength": -6.255881, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 42.535243, "energy": 28.93796, "activity_lines": [ 44562.0, 44757.772727, 44085.440476, 43632.096774 ] }, { "date": "2025-09-12", "close": 44902.5, "volume": 1041, "typical_volume": 1342.75, "trend": 43300.05, "fair_value": 38752.810897, "relative_strength": -4.542908, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 42.878695, "energy": 26.973163, "activity_lines": [ 44578.666667, 44822.318182, 44215.77381, 43736.35914 ] }, { "date": "2025-09-19", "close": 44555.0, "volume": 1622, "typical_volume": 1406.1, "trend": 43291.733333, "fair_value": 38759.727564, "relative_strength": -4.520171, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 36.357868, "energy": 21.841912, "activity_lines": [ 44540.666667, 44781.909091, 44297.02381, 43817.323656 ] }, { "date": "2025-09-26", "close": 46212.5, "volume": 600, "typical_volume": 1410.1, "trend": 43368.116667, "fair_value": 38801.996795, "relative_strength": -1.665693, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 71.94476, "energy": 40.075534, "activity_lines": [ 45071.333333, 45021.954545, 44526.309524, 44005.760215 ] }, { "date": "2025-10-03", "close": 47615.0, "volume": 1207, "typical_volume": 1354.85, "trend": 43564.933333, "fair_value": 38860.759615, "relative_strength": -0.807062, "stage": 2, "regime": "deceleration", "modifier": "Re-acceleration watch", "gate": "up", "direction": 84.624497, "energy": 72.230399, "activity_lines": [ 46010.833333, 45484.136364, 44872.238095, 44279.752688 ] }, { "date": "2025-10-10", "close": 48957.5, "volume": 3099, "typical_volume": 1449.65, "trend": 43774.0, "fair_value": 38937.839744, "relative_strength": 2.654654, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 89.835985, "energy": 91.652101, "activity_lines": [ 47193.166667, 46137.090909, 45327.130952, 44627.660215 ] }, { "date": "2025-10-17", "close": 48865.0, "volume": 4218, "typical_volume": 1634.9, "trend": 43972.083333, "fair_value": 39012.288462, "relative_strength": 3.270791, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 82.859935, "energy": 92.891824, "activity_lines": [ 47998.666667, 46721.545455, 45740.452381, 44956.111828 ] }, { "date": "2025-10-24", "close": 48462.5, "volume": 724, "typical_volume": 1524.7, "trend": 44159.233333, "fair_value": 39078.330128, "relative_strength": -0.562195, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 68.87694, "energy": 88.063929, "activity_lines": [ 48405.833333, 47177.454545, 46086.416667, 45245.816129 ] }, { "date": "2025-10-31", "close": 48617.5, "volume": 1354, "typical_volume": 1569.85, "trend": 44378.25, "fair_value": 39140.176282, "relative_strength": -0.895163, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 69.286046, "energy": 87.393352, "activity_lines": [ 48604.166667, 47594.909091, 46417.77381, 45533.446237 ] }, { "date": "2025-11-07", "close": 48185.0, "volume": 3762, "typical_volume": 1714.0, "trend": 44631.083333, "fair_value": 39203.551282, "relative_strength": -1.309473, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 66.791143, "energy": 71.431933, "activity_lines": [ 48498.0, 47874.0, 46679.071429, 45779.043011 ] }, { "date": "2025-11-14", "close": 48600.0, "volume": 1247, "typical_volume": 1753.8, "trend": 44855.083333, "fair_value": 39270.471154, "relative_strength": -0.46932, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 67.697844, "energy": 61.221803, "activity_lines": [ 48492.166667, 48162.363636, 46953.964286, 46035.102151 ] }, { "date": "2025-11-21", "close": 48125.0, "volume": 1794, "typical_volume": 1710.25, "trend": 45074.416667, "fair_value": 39329.580128, "relative_strength": 0.382704, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 62.324982, "energy": 53.54434, "activity_lines": [ 48351.833333, 48276.5, 47154.214286, 46246.064516 ] }, { "date": "2025-11-28", "close": 49040.0, "volume": 2240, "typical_volume": 1741.6, "trend": 45292.666667, "fair_value": 39398.471154, "relative_strength": 0.567088, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 70.826948, "energy": 54.948132, "activity_lines": [ 48565.833333, 48498.409091, 47415.321429, 46501.908602 ] }, { "date": "2025-12-05", "close": 46807.5, "volume": 1066, "typical_volume": 1741.45, "trend": 45431.0, "fair_value": 39452.317308, "relative_strength": -3.320778, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 45.936288, "energy": 35.026567, "activity_lines": [ 47997.166667, 48232.863636, 47436.97619, 46599.639785 ] }, { "date": "2025-12-12", "close": 45997.5, "volume": 2809, "typical_volume": 1834.7, "trend": 45509.333333, "fair_value": 39502.657051, "relative_strength": -4.657753, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 22.303058, "energy": 19.059575, "activity_lines": [ 47279.166667, 47809.227273, 47370.047619, 46636.188172 ] }, { "date": "2025-12-19", "close": 46317.5, "volume": 1250, "typical_volume": 1844.1, "trend": 45650.666667, "fair_value": 39550.003205, "relative_strength": -6.198828, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 17.16434, "energy": 21.404406, "activity_lines": [ 46813.666667, 47473.181818, 47327.333333, 46688.327957 ] }, { "date": "2025-12-26", "close": 45510.0, "volume": 555, "typical_volume": 1811.7, "trend": 45742.0, "fair_value": 39589.403846, "relative_strength": -7.362539, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -11.387568, "energy": 29.612686, "activity_lines": [ 46231.166667, 47038.318182, 47206.75, 46679.252688 ] }, { "date": "2026-01-02", "close": 46092.5, "volume": 331, "typical_volume": 1749.4, "trend": 45868.583333, "fair_value": 39632.198718, "relative_strength": -6.678457, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -1.103899, "energy": 27.694593, "activity_lines": [ 46017.166667, 46770.363636, 47143.119048, 46701.865591 ] }, { "date": "2026-01-09", "close": 45805.0, "volume": 2962, "typical_volume": 1796.4, "trend": 45976.916667, "fair_value": 39676.192308, "relative_strength": -8.577503, "stage": 3, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -24.173386, "energy": 36.925045, "activity_lines": [ 45903.833333, 46493.227273, 47045.940476, 46697.763441 ] }, { "date": "2026-01-16", "close": 46835.0, "volume": 4961, "typical_volume": 1965.85, "trend": 46113.416667, "fair_value": 39739.362179, "relative_strength": -7.2425, "stage": 3, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "up", "direction": -0.375921, "energy": 21.102214, "activity_lines": [ 46200.666667, 46454.5, 47044.607143, 46753.123656 ] }, { "date": "2026-01-23", "close": 45187.5, "volume": 716, "typical_volume": 1877.9, "trend": 46205.5, "fair_value": 39791.11859, "relative_strength": -9.405983, "stage": 3, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -32.277937, "energy": 27.831726, "activity_lines": [ 45892.5, 46140.772727, 46875.464286, 46693.387097 ] }, { "date": "2026-01-30", "close": 45182.5, "volume": 2571, "typical_volume": 1954.4, "trend": 46291.416667, "fair_value": 39841.269231, "relative_strength": -9.877577, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -30.235352, "energy": 28.830255, "activity_lines": [ 45658.0, 45888.181818, 46699.083333, 46627.387097 ] }, { "date": "2026-02-06", "close": 45575.0, "volume": 1144, "typical_volume": 1930.5, "trend": 46363.75, "fair_value": 39894.596154, "relative_strength": -10.121027, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -29.681318, "energy": 27.807796, "activity_lines": [ 45576.166667, 45760.454545, 46558.75, 46581.166667 ] }, { "date": "2026-02-13", "close": 49200.0, "volume": 714, "typical_volume": 1936.2, "trend": 46523.583333, "fair_value": 39966.451923, "relative_strength": -3.537371, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": 20.306204, "energy": 10.579757, "activity_lines": [ 46737.166667, 46354.818182, 46758.797619, 46764.150538 ] }, { "date": "2026-02-20", "close": 49440.0, "volume": 2652, "typical_volume": 2008.45, "trend": 46682.166667, "fair_value": 40046.75641, "relative_strength": -5.043318, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 59.579646, "energy": 40.016424, "activity_lines": [ 47751.833333, 46949.318182, 46967.47619, 46952.306452 ] }, { "date": "2026-02-27", "close": 51045.0, "volume": 1581, "typical_volume": 1932.55, "trend": 46846.5, "fair_value": 40139.282051, "relative_strength": -3.854247, "stage": 2, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "up", "direction": 80.749823, "energy": 75.500793, "activity_lines": [ 49127.833333, 47773.045455, 47320.321429, 47233.77957 ] }, { "date": "2026-03-06", "close": 50500.0, "volume": 4769, "typical_volume": 1960.1, "trend": 47002.5, "fair_value": 40231.041667, "relative_strength": 0.865189, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 72.260834, "energy": 83.830348, "activity_lines": [ 49931.666667, 48411.727273, 47611.321429, 47469.489247 ] }, { "date": "2026-03-13", "close": 51290.0, "volume": 2746, "typical_volume": 2061.2, "trend": 47218.916667, "fair_value": 40324.019231, "relative_strength": 2.656958, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 76.259078, "energy": 87.924305, "activity_lines": [ 50644.333333, 49103.318182, 47969.77381, 47746.102151 ] }, { "date": "2026-03-20", "close": 49210.0, "volume": 1703, "typical_volume": 2078.65, "trend": 47348.166667, "fair_value": 40410.977564, "relative_strength": 1.899997, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 65.648587, "energy": 77.270676, "activity_lines": [ 50282.666667, 49322.227273, 48116.666667, 47874.55914 ] }, { "date": "2026-03-27", "close": 50195.0, "volume": 1190, "typical_volume": 1950.05, "trend": 47536.5, "fair_value": 40498.253205, "relative_strength": 3.39191, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 61.951654, "energy": 51.232533, "activity_lines": [ 50248.666667, 49658.318182, 48354.547619, 48058.225806 ] }, { "date": "2026-04-03", "close": 50810.0, "volume": 743, "typical_volume": 1924.85, "trend": 47771.25, "fair_value": 40583.605769, "relative_strength": 0.095286, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 66.508047, "energy": 48.634352, "activity_lines": [ 50369.333333, 50045.136364, 48641.428571, 48269.419355 ] }, { "date": "2026-04-10", "close": 50945.0, "volume": 618, "typical_volume": 1866.05, "trend": 47972.666667, "fair_value": 40671.298077, "relative_strength": -1.079179, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 64.42001, "energy": 44.650151, "activity_lines": [ 50550.666667, 50354.272727, 48930.642857, 48474.177419 ] }, { "date": "2026-04-17", "close": 48925.0, "volume": 1539, "typical_volume": 1831.0, "trend": 48118.333333, "fair_value": 40743.660256, "relative_strength": -5.421437, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 46.022945, "energy": 33.649883, "activity_lines": [ 50029.0, 50191.363636, 49014.047619, 48535.61828 ] }, { "date": "2026-04-24", "close": 49667.5, "volume": 1772, "typical_volume": 1866.3, "trend": 48233.5, "fair_value": 40824.676282, "relative_strength": -1.257932, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 42.354821, "energy": 28.8817, "activity_lines": [ 49912.5, 50102.545455, 49168.714286, 48635.564516 ] }, { "date": "2026-05-01", "close": 50120.0, "volume": 1394, "typical_volume": 1795.55, "trend": 48317.0, "fair_value": 40911.794872, "relative_strength": -0.169801, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 41.528433, "energy": 24.619666, "activity_lines": [ 49916.333333, 50087.5, 49352.857143, 48757.274194 ] }, { "date": "2026-05-08", "close": 47897.5, "volume": 933, "typical_volume": 1779.7, "trend": 48281.666667, "fair_value": 40981.057692, "relative_strength": -3.259756, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 20.177723, "energy": 17.356519, "activity_lines": [ 49184.333333, 49656.0, 49305.702381, 48730.209677 ] }, { "date": "2026-05-15", "close": 48090.0, "volume": 1528, "typical_volume": 1828.35, "trend": 48255.833333, "fair_value": 41060.128205, "relative_strength": -2.39192, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 14.526618, "energy": 16.209785, "activity_lines": [ 48710.666667, 49316.727273, 49269.357143, 48717.844086 ] }, { "date": "2026-05-22", "close": 48690.0, "volume": 2887, "typical_volume": 1956.15, "trend": 48263.416667, "fair_value": 41148.358974, "relative_strength": -3.665142, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 10.896836, "energy": 16.282974, "activity_lines": [ 48627.333333, 49130.363636, 49277.869048, 48745.854839 ] }, { "date": "2026-05-29", "close": 47805.0, "volume": 1270, "typical_volume": 1871.55, "trend": 48236.333333, "fair_value": 41230.00641, "relative_strength": -4.79092, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -2.096621, "energy": 18.874387, "activity_lines": [ 48264.666667, 48830.363636, 49189.72619, 48716.27957 ] }, { "date": "2026-06-05", "close": 48170.0, "volume": 1122, "typical_volume": 1679.6, "trend": 48235.833333, "fair_value": 41311.339744, "relative_strength": -3.629098, "stage": 3, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -13.308383, "energy": 25.01425, "activity_lines": [ 48147.833333, 48622.272727, 49126.821429, 48712.0 ] }, { "date": "2026-06-12", "close": 47932.5, "volume": 110, "typical_volume": 1649.3, "trend": 48213.583333, "fair_value": 41391.541667, "relative_strength": -4.965485, "stage": 3, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -18.820956, "energy": 31.404847, "activity_lines": [ 48081.833333, 48407.818182, 49034.940476, 48692.430108 ] }, { "date": "2026-06-19", "close": 49160.0, "volume": 147, "typical_volume": 1528.1, "trend": 48248.083333, "fair_value": 41482.166667, "relative_strength": -1.462204, "stage": 3, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "up", "direction": 8.947666, "energy": 15.042196, "activity_lines": [ 48422.666667, 48468.863636, 49046.892857, 48753.489247 ] }, { "date": "2026-06-26", "close": 50885.0, "volume": 284, "typical_volume": 1485.1, "trend": 48309.583333, "fair_value": 41586.740385, "relative_strength": 0.582524, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 52.870816, "energy": 27.996792, "activity_lines": [ 49267.166667, 48876.0, 49204.190476, 48923.612903 ] }, { "date": "2026-07-03", "close": 49967.5, "volume": 42, "typical_volume": 1451.5, "trend": 48414.916667, "fair_value": 41684.967949, "relative_strength": -2.754411, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 43.072433, "energy": 31.857711, "activity_lines": [ 49659.5, 49080.681818, 49248.821429, 49030.575269 ] }, { "date": "2026-07-10", "close": 49222.5, "volume": 2041, "typical_volume": 1420.95, "trend": 48522.416667, "fair_value": 41779.474359, "relative_strength": -2.481664, "stage": 3, "regime": "deceleration", "modifier": "Re-acceleration watch", "gate": "up", "direction": 40.169301, "energy": 32.702285, "activity_lines": [ 49659.333333, 49144.454545, 49218.845238, 49082.677419 ] }, { "date": "2026-07-17", "close": 49715.0, "volume": 986, "typical_volume": 1391.2, "trend": 48635.666667, "fair_value": 41867.410256, "relative_strength": -2.366941, "stage": 3, "regime": "deceleration", "modifier": "Re-acceleration watch", "gate": "up", "direction": 50.374793, "energy": 37.694311, "activity_lines": [ 49753.166667, 49314.090909, 49236.809524, 49159.61828 ] }, { "date": "2026-07-24", "close": 50775.0, "volume": 1424, "typical_volume": 1223.95, "trend": 48811.166667, "fair_value": 41965.333333, "relative_strength": -1.47951, "stage": 3, "regime": "deceleration", "modifier": "Re-acceleration watch", "gate": "up", "direction": 65.791172, "energy": 51.521267, "activity_lines": [ 50081.5, 49643.409091, 49362.059524, 49297.639785 ] }, { "date": "2026-07-31", "close": 48272.5, "volume": 1089, "typical_volume": 1141.1, "trend": 48883.833333, "fair_value": 42055.022436, "relative_strength": -7.232816, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 9.236768, "energy": 6.916334, "activity_lines": [ 49468.0, 49468.909091, 49247.666667, 49262.887097 ] }, { "date": "2026-08-07", "close": 47212.5, "volume": 1869, "typical_volume": 1149.4, "trend": 48930.75, "fair_value": 42138.054487, "relative_strength": -9.287087, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -26.390366, "energy": 18.30587, "activity_lines": [ 48675.333333, 49109.272727, 49046.690476, 49155.05914 ] } ], "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." } } }