{ "ticker": { "uuid": "d4fdac3c-9685-4317-924b-b823c32cfa43", "symbol": "PCQ", "name": "Pimco California Municipal Income Fund", "exchange": "NYSE", "country": "US", "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": "SPY", "stage": 3, "stage_name": "Distribution", "phase": "3a", "phase_label": "Stage 3A \u00b7 Churning", "transition": "stage_3_churning", "transition_label": "Stage 3 range intact", "confidence": 83.395, "architecture_regime": "balance", "architecture_regime_label": "Balance", "architecture_modifier": "Upper balance after advance", "architecture_gate": "mixed", "architecture_direction": -13.163, "architecture_energy": 18.002, "architecture_maturity": 17.658, "architecture_confidence": 43.261, "architecture_tenure": "New", "architecture": { "interpretation": { "headline": "Directional pressure has compressed into balance.", "body": "Trend and Activity are compressed into balance, so neither side has durable control. Prior structure and the next directional change provide context; balance alone is not assumed to be a base." }, "scores": { "balance": 58.9, "rotation_up": 22.69, "upward_expansion": 12.43, "deceleration": 58.88, "rotation_down": 49.5, "downward_expansion": 42.43 }, "activity_lines": [ 8.698268, 8.756224, 8.756978, 8.742773 ], "activity_state": "Compressed", "activity_direction": "Contracting", "rotation_direction": "Weakening", "price_acceptance": 0.0 }, "latest_close": 8.78, "trend_reference": 8.742861, "distance_from_trend": 0.004248, "trend_direction": "Improving", "fair_value": 8.441471, "distance_from_fair_value": 0.040103, "fair_value_direction": "Weakening", "relative_strength": -9.106863, "relative_strength_direction": "Weakening", "price_momentum": -0.009991, "excess_performance": -0.135616, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.004248, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.008637, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.040103, "read": "Premium" }, { "label": "Fair Value direction", "positive": false, "value": -0.010012, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.091069, "read": "Lagging" }, { "label": "Relative strength direction", "positive": false, "value": -0.024146, "read": "Weakening" }, { "label": "Price momentum", "positive": false, "value": -0.009991, "read": "Negative" }, { "label": "Volume balance", "positive": true, "value": 1.347454, "read": "Demand-led" } ], "volume": { "latest": 566153, "relative_activity": 0.815206, "balance": 1.347454, "dry_up": 0.9293, "accumulation_observations": 2, "distribution_observations": 3 }, "risk": { "range_context": 0.020654, "annualized_volatility": 0.106687, "from_high_reference": -0.034313, "from_low_reference": 0.120686 }, "levels": { "trend_reference": 8.742861, "fair_value_reference": 8.441471, "structural_low": 8.308006, "invalidation": "A decisive breakout above range resistance with renewed RS leadership invalidates the distribution reading; a range-low break confirms deterioration." }, "outcomes": [ { "horizon": "Near term", "sample_count": 12, "median_return": -0.022963, "positive_rate": 0.333333, "directional_follow_through": 0.333333, "median_excess_return": -0.03908, "regime_survival": 0.5, "best_return": 0.02194, "worst_return": -0.108142, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 6, "median_return": -0.061795, "positive_rate": 0.333333, "directional_follow_through": 0.333333, "median_excess_return": -0.051, "regime_survival": 0.0, "best_return": 0.058932, "worst_return": -0.189046, "sufficient": true }, { "horizon": "Extended", "sample_count": 5, "median_return": -0.090792, "positive_rate": 0.4, "directional_follow_through": 0.4, "median_excess_return": -0.072608, "regime_survival": 0.2, "best_return": 0.072776, "worst_return": -0.193261, "sufficient": true }, { "horizon": "Full cycle", "sample_count": 3, "median_return": -0.042145, "positive_rate": 0.333333, "directional_follow_through": 0.333333, "median_excess_return": -0.150627, "regime_survival": 0.0, "best_return": 0.073347, "worst_return": -0.298426, "sufficient": false } ], "ledger": [ { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2024-07-05", "end": "2024-11-15", "tenure": "Established", "return": 0.050024, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2024-11-22", "end": "2024-12-20", "tenure": "Developing", "return": -0.039558, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2024-12-27", "end": "2025-01-17", "tenure": "New", "return": -0.008209, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-01-24", "end": "2025-07-04", "tenure": "Established", "return": -0.004244, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-07-11", "end": "2025-08-01", "tenure": "New", "return": -0.03252, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-08-08", "end": "2025-09-19", "tenure": "Developing", "return": 0.072306, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2025-09-26", "end": "2025-10-10", "tenure": "New", "return": 0.011521, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-10-17", "end": "2025-12-05", "tenure": "Developing", "return": -0.002772, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2025-12-12", "end": "2026-01-09", "tenure": "Developing", "return": 0.026528, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-01-16", "end": "2026-04-03", "tenure": "Developing", "return": -0.029258, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2026-04-10", "end": "2026-04-17", "tenure": "New", "return": 0.0041, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-04-24", "end": "2026-06-26", "tenure": "Developing", "return": 0.014311, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-07-03", "end": "2026-07-24", "tenure": "New", "return": -0.045016, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-07-31", "end": "2026-08-07", "tenure": "New", "return": 0.022119, "active": true } ], "chart_path": [ { "date": "2023-08-18", "close": 8.366073, "volume": 144988, "typical_volume": 218358.8, "trend": 8.680641, "fair_value": 12.715611, "relative_strength": -24.8576, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -46.56462, "energy": 20.765686, "activity_lines": [ 8.587846, 8.622998, 8.584641, 8.598532 ] }, { "date": "2023-08-25", "close": 8.191416, "volume": 175730, "typical_volume": 205595.55, "trend": 8.638253, "fair_value": 12.681708, "relative_strength": -26.29413, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -71.16316, "energy": 47.257059, "activity_lines": [ 8.424302, 8.5465, 8.547908, 8.566969 ] }, { "date": "2023-09-01", "close": 8.165218, "volume": 274327, "typical_volume": 203771.95, "trend": 8.599535, "fair_value": 12.648907, "relative_strength": -27.564543, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -73.118034, "energy": 69.793968, "activity_lines": [ 8.298761, 8.471252, 8.511248, 8.536451 ] }, { "date": "2023-09-08", "close": 7.978335, "volume": 175523, "typical_volume": 198035.1, "trend": 8.556405, "fair_value": 12.613319, "relative_strength": -27.561709, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -83.233998, "energy": 84.993903, "activity_lines": [ 8.162307, 8.368514, 8.459221, 8.496373 ] }, { "date": "2023-09-15", "close": 7.741615, "volume": 288462, "typical_volume": 201799.1, "trend": 8.516208, "fair_value": 12.574104, "relative_strength": -28.791927, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -89.557439, "energy": 92.246501, "activity_lines": [ 7.991065, 8.23215, 8.387396, 8.443806 ] }, { "date": "2023-09-22", "close": 7.575034, "volume": 257901, "typical_volume": 204723.85, "trend": 8.477296, "fair_value": 12.535348, "relative_strength": -27.383398, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -89.117644, "energy": 94.98574, "activity_lines": [ 7.819899, 8.079532, 8.303868, 8.383085 ] }, { "date": "2023-09-29", "close": 7.312012, "volume": 326035, "typical_volume": 205059.85, "trend": 8.430186, "fair_value": 12.494789, "relative_strength": -28.522588, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -91.332688, "energy": 96.143291, "activity_lines": [ 7.613795, 7.898773, 8.200327, 8.307906 ] }, { "date": "2023-10-06", "close": 7.224338, "volume": 341331, "typical_volume": 214565.75, "trend": 8.382546, "fair_value": 12.453264, "relative_strength": -28.724068, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -87.13899, "energy": 94.984523, "activity_lines": [ 7.437094, 7.730809, 8.094093, 8.230109 ] }, { "date": "2023-10-13", "close": 7.343499, "volume": 486882, "typical_volume": 227616.15, "trend": 8.340594, "fair_value": 12.412182, "relative_strength": -26.89601, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -71.429794, "energy": 89.053795, "activity_lines": [ 7.362838, 7.61563, 8.004787, 8.163074 ] }, { "date": "2023-10-20", "close": 7.317084, "volume": 561381, "typical_volume": 246029.4, "trend": 8.301191, "fair_value": 12.372236, "relative_strength": -24.500549, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -70.157866, "energy": 88.195013, "activity_lines": [ 7.322099, 7.519224, 7.91732, 8.097041 ] }, { "date": "2023-10-27", "close": 7.246643, "volume": 223035, "typical_volume": 250580.5, "trend": 8.254581, "fair_value": 12.33297, "relative_strength": -22.443286, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -73.387708, "energy": 85.191233, "activity_lines": [ 7.286182, 7.432893, 7.828695, 8.029005 ] }, { "date": "2023-11-03", "close": 7.722121, "volume": 460837, "typical_volume": 266441.8, "trend": 8.220961, "fair_value": 12.298082, "relative_strength": -20.855705, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -65.599998, "energy": 62.084974, "activity_lines": [ 7.430651, 7.453366, 7.791674, 7.994653 ] }, { "date": "2023-11-10", "close": 7.938728, "volume": 615112, "typical_volume": 286393.3, "trend": 8.196393, "fair_value": 12.263151, "relative_strength": -18.689146, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -48.459191, "energy": 39.438504, "activity_lines": [ 7.619981, 7.521755, 7.779093, 7.976445 ] }, { "date": "2023-11-17", "close": 8.097856, "volume": 400526, "typical_volume": 297129.65, "trend": 8.181146, "fair_value": 12.229265, "relative_strength": -17.87472, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -23.043245, "energy": 29.196867, "activity_lines": [ 7.814728, 7.623194, 7.784444, 7.970087 ] }, { "date": "2023-11-24", "close": 8.097856, "volume": 257991, "typical_volume": 298922.05, "trend": 8.163891, "fair_value": 12.194983, "relative_strength": -17.556615, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -8.417779, "energy": 30.592417, "activity_lines": [ 7.959185, 7.72246, 7.791692, 7.964714 ] }, { "date": "2023-12-01", "close": 8.265825, "volume": 390665, "typical_volume": 313623.85, "trend": 8.15166, "fair_value": 12.158664, "relative_strength": -15.267027, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": 13.747612, "energy": 35.675086, "activity_lines": [ 8.10758, 7.845788, 7.816915, 7.97129 ] }, { "date": "2023-12-08", "close": 8.341853, "volume": 546273, "typical_volume": 324355.75, "trend": 8.146394, "fair_value": 12.121179, "relative_strength": -13.415477, "stage": 4, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 36.422195, "energy": 46.15342, "activity_lines": [ 8.213372, 7.970381, 7.851245, 7.983561 ] }, { "date": "2023-12-15", "close": 8.545962, "volume": 396532, "typical_volume": 336111.95, "trend": 8.151387, "fair_value": 12.0851, "relative_strength": -11.997225, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 44.884487, "energy": 61.544552, "activity_lines": [ 8.345884, 8.113359, 7.907636, 8.009339 ] }, { "date": "2023-12-22", "close": 8.244235, "volume": 836681, "typical_volume": 366755.05, "trend": 8.150929, "fair_value": 12.047678, "relative_strength": -14.495827, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 28.298924, "energy": 57.693622, "activity_lines": [ 8.337339, 8.177449, 7.937147, 8.01533 ] }, { "date": "2023-12-29", "close": 8.270858, "volume": 482011, "typical_volume": 382111.15, "trend": 8.143872, "fair_value": 12.011477, "relative_strength": -13.159989, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 26.429931, "energy": 49.057594, "activity_lines": [ 8.32791, 8.230002, 7.97108, 8.023067 ] }, { "date": "2024-01-05", "close": 8.279732, "volume": 201392, "typical_volume": 384931.35, "trend": 8.134058, "fair_value": 11.974734, "relative_strength": -10.826162, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 23.227596, "energy": 33.034578, "activity_lines": [ 8.309905, 8.266827, 8.007309, 8.031832 ] }, { "date": "2024-01-12", "close": 8.267171, "volume": 485916, "typical_volume": 400440.65, "trend": 8.12556, "fair_value": 11.938134, "relative_strength": -11.994648, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 27.098939, "energy": 25.598379, "activity_lines": [ 8.286786, 8.282585, 8.042753, 8.04042 ] }, { "date": "2024-01-19", "close": 8.106817, "volume": 371491, "typical_volume": 405298.85, "trend": 8.111717, "fair_value": 11.900456, "relative_strength": -14.045385, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": 12.923762, "energy": 14.960295, "activity_lines": [ 8.215194, 8.259277, 8.062564, 8.039211 ] }, { "date": "2024-01-26", "close": 8.124634, "volume": 390052, "typical_volume": 416025.3, "trend": 8.099335, "fair_value": 11.862692, "relative_strength": -14.144227, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": 8.004549, "energy": 9.288364, "activity_lines": [ 8.178818, 8.236153, 8.08435, 8.040044 ] }, { "date": "2024-02-02", "close": 8.454252, "volume": 415828, "typical_volume": 422393.6, "trend": 8.097362, "fair_value": 11.821763, "relative_strength": -11.400706, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": 27.20981, "energy": 19.698398, "activity_lines": [ 8.260288, 8.272473, 8.136832, 8.062942 ] }, { "date": "2024-02-09", "close": 8.50414, "volume": 338977, "typical_volume": 426447.4, "trend": 8.092249, "fair_value": 11.78317, "relative_strength": -11.558072, "stage": 1, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": 39.509177, "energy": 32.532076, "activity_lines": [ 8.346161, 8.311383, 8.190671, 8.089186 ] }, { "date": "2024-02-16", "close": 8.548851, "volume": 235672, "typical_volume": 421929.25, "trend": 8.080796, "fair_value": 11.747262, "relative_strength": -10.325593, "stage": 1, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "up", "direction": 69.223374, "energy": 64.736234, "activity_lines": [ 8.431977, 8.354089, 8.244345, 8.118644 ] }, { "date": "2024-02-23", "close": 8.566736, "volume": 162465, "typical_volume": 412985.95, "trend": 8.068489, "fair_value": 11.713319, "relative_strength": -11.118931, "stage": 1, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 68.297294, "energy": 74.401612, "activity_lines": [ 8.504976, 8.396284, 8.293832, 8.149995 ] }, { "date": "2024-03-01", "close": 8.58462, "volume": 197761, "typical_volume": 398529.9, "trend": 8.066639, "fair_value": 11.67909, "relative_strength": -11.336486, "stage": 1, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 67.487287, "energy": 76.234713, "activity_lines": [ 8.553275, 8.441353, 8.338629, 8.183294 ] }, { "date": "2024-03-08", "close": 8.581044, "volume": 289146, "typical_volume": 384918.15, "trend": 8.066819, "fair_value": 11.643913, "relative_strength": -10.631703, "stage": 1, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 66.500182, "energy": 73.748733, "activity_lines": [ 8.569717, 8.479582, 8.377177, 8.216481 ] }, { "date": "2024-03-15", "close": 8.356644, "volume": 283923, "typical_volume": 387962.55, "trend": 8.066504, "fair_value": 11.607599, "relative_strength": -12.382553, "stage": 1, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 60.552859, "energy": 47.165521, "activity_lines": [ 8.502905, 8.471372, 8.388333, 8.23518 ] }, { "date": "2024-03-22", "close": 8.374596, "volume": 392212, "typical_volume": 384531.3, "trend": 8.07261, "fair_value": 11.571601, "relative_strength": -13.603335, "stage": 1, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 46.279947, "energy": 34.100267, "activity_lines": [ 8.451911, 8.465028, 8.395914, 8.255056 ] }, { "date": "2024-03-29", "close": 8.401524, "volume": 245063, "typical_volume": 366028.85, "trend": 8.080487, "fair_value": 11.535174, "relative_strength": -13.152175, "stage": 1, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 40.237517, "energy": 24.442552, "activity_lines": [ 8.42151, 8.461626, 8.402953, 8.276277 ] }, { "date": "2024-04-05", "close": 8.311764, "volume": 243131, "typical_volume": 358159.1, "trend": 8.091601, "fair_value": 11.496892, "relative_strength": -12.801948, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 32.304906, "energy": 23.644878, "activity_lines": [ 8.372202, 8.436546, 8.399239, 8.291198 ] }, { "date": "2024-04-12", "close": 8.173248, "volume": 241531, "typical_volume": 357336.1, "trend": 8.105989, "fair_value": 11.458025, "relative_strength": -12.493964, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 9.130883, "energy": 15.848932, "activity_lines": [ 8.294914, 8.382879, 8.381314, 8.296465 ] }, { "date": "2024-04-19", "close": 8.209293, "volume": 329568, "typical_volume": 354281.25, "trend": 8.127131, "fair_value": 11.420445, "relative_strength": -8.893897, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 1.265028, "energy": 16.003892, "activity_lines": [ 8.256826, 8.340874, 8.366464, 8.30313 ] }, { "date": "2024-04-26", "close": 8.146214, "volume": 221829, "typical_volume": 338059.05, "trend": 8.154938, "fair_value": 11.381958, "relative_strength": -11.457365, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -8.017518, "energy": 24.463541, "activity_lines": [ 8.207536, 8.292762, 8.345875, 8.304361 ] }, { "date": "2024-05-03", "close": 8.353474, "volume": 253582, "typical_volume": 330911.55, "trend": 8.192576, "fair_value": 11.341376, "relative_strength": -9.271548, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 3.887452, "energy": 19.313937, "activity_lines": [ 8.242558, 8.289654, 8.345956, 8.31717 ] }, { "date": "2024-05-10", "close": 8.448993, "volume": 274715, "typical_volume": 302813.25, "trend": 8.229426, "fair_value": 11.302541, "relative_strength": -9.459332, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 33.368632, "energy": 16.081193, "activity_lines": [ 8.312622, 8.307791, 8.356052, 8.333713 ] }, { "date": "2024-05-17", "close": 8.512316, "volume": 201150, "typical_volume": 288770.2, "trend": 8.269267, "fair_value": 11.263607, "relative_strength": -9.850876, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 45.705978, "energy": 26.362548, "activity_lines": [ 8.394646, 8.339906, 8.371203, 8.351964 ] }, { "date": "2024-05-24", "close": 8.358533, "volume": 286909, "typical_volume": 293046.05, "trend": 8.30633, "fair_value": 11.22404, "relative_strength": -11.078978, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 34.768738, "energy": 26.249287, "activity_lines": [ 8.402805, 8.345311, 8.370558, 8.357723 ] }, { "date": "2024-05-31", "close": 8.204751, "volume": 178034, "typical_volume": 277651.95, "trend": 8.322417, "fair_value": 11.182377, "relative_strength": -11.93801, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 17.064949, "energy": 13.917073, "activity_lines": [ 8.349753, 8.322721, 8.354892, 8.35117 ] }, { "date": "2024-06-07", "close": 8.390194, "volume": 397877, "typical_volume": 278971.25, "trend": 8.337466, "fair_value": 11.141216, "relative_strength": -10.627326, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 17.399667, "energy": 10.220827, "activity_lines": [ 8.354613, 8.336936, 8.357184, 8.355542 ] }, { "date": "2024-06-14", "close": 8.554101, "volume": 250020, "typical_volume": 271969.65, "trend": 8.352674, "fair_value": 11.10136, "relative_strength": -9.975297, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 58.825121, "energy": 25.283408, "activity_lines": [ 8.411661, 8.381159, 8.373738, 8.369519 ] }, { "date": "2024-06-21", "close": 8.490536, "volume": 187279, "typical_volume": 260542.2, "trend": 8.365764, "fair_value": 11.059069, "relative_strength": -10.789499, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 52.038672, "energy": 26.33865, "activity_lines": [ 8.440513, 8.409418, 8.382192, 8.378413 ] }, { "date": "2024-06-28", "close": 8.554101, "volume": 210776, "typical_volume": 254132.15, "trend": 8.375373, "fair_value": 11.017034, "relative_strength": -9.704364, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 58.131751, "energy": 47.583071, "activity_lines": [ 8.492006, 8.443465, 8.396528, 8.390564 ] }, { "date": "2024-07-05", "close": 8.563182, "volume": 140115, "typical_volume": 249354.3, "trend": 8.382751, "fair_value": 10.974574, "relative_strength": -10.888633, "stage": 1, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 58.278499, "energy": 54.987228, "activity_lines": [ 8.533488, 8.472894, 8.41149, 8.402681 ] }, { "date": "2024-07-12", "close": 8.67611, "volume": 263854, "typical_volume": 254423.75, "trend": 8.387089, "fair_value": 10.932852, "relative_strength": -10.172492, "stage": 1, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 69.020561, "energy": 61.675507, "activity_lines": [ 8.588717, 8.515275, 8.437139, 8.421607 ] }, { "date": "2024-07-19", "close": 8.577573, "volume": 212575, "typical_volume": 255164.45, "trend": 8.3982, "fair_value": 10.891756, "relative_strength": -8.97504, "stage": 1, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 58.107986, "energy": 56.096514, "activity_lines": [ 8.592039, 8.533873, 8.452883, 8.433896 ] }, { "date": "2024-07-26", "close": 8.559342, "volume": 324606, "typical_volume": 256937.45, "trend": 8.407816, "fair_value": 10.849781, "relative_strength": -7.985651, "stage": 1, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 55.417315, "energy": 46.702925, "activity_lines": [ 8.58772, 8.546819, 8.466924, 8.444293 ] }, { "date": "2024-08-02", "close": 8.696073, "volume": 330038, "typical_volume": 259243.2, "trend": 8.421694, "fair_value": 10.807869, "relative_strength": -4.136276, "stage": 1, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 65.141817, "energy": 50.53318, "activity_lines": [ 8.62439, 8.58377, 8.494091, 8.46289 ] }, { "date": "2024-08-09", "close": 8.677842, "volume": 374427, "typical_volume": 258353.95, "trend": 8.435383, "fair_value": 10.766322, "relative_strength": -4.002865, "stage": 1, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 59.993611, "energy": 41.242398, "activity_lines": [ 8.645519, 8.611269, 8.517905, 8.479415 ] }, { "date": "2024-08-16", "close": 8.692496, "volume": 152996, "typical_volume": 253750.6, "trend": 8.454906, "fair_value": 10.724613, "relative_strength": -7.143995, "stage": 1, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 60.692968, "energy": 45.847703, "activity_lines": [ 8.663888, 8.632831, 8.54167, 8.496003 ] }, { "date": "2024-08-23", "close": 8.774846, "volume": 257421, "typical_volume": 254465.1, "trend": 8.47658, "fair_value": 10.684709, "relative_strength": -7.222835, "stage": 1, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 68.246367, "energy": 61.698333, "activity_lines": [ 8.708615, 8.663869, 8.571893, 8.516645 ] }, { "date": "2024-08-30", "close": 8.719946, "volume": 268322, "typical_volume": 255804.65, "trend": 8.485436, "fair_value": 10.644503, "relative_strength": -7.752962, "stage": 1, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 59.006264, "energy": 55.497991, "activity_lines": [ 8.721891, 8.680912, 8.594682, 8.532346 ] }, { "date": "2024-09-06", "close": 8.884646, "volume": 374734, "typical_volume": 258062.95, "trend": 8.49812, "fair_value": 10.60492, "relative_strength": -1.760873, "stage": 1, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 75.921969, "energy": 69.29872, "activity_lines": [ 8.779359, 8.723729, 8.630554, 8.558101 ] }, { "date": "2024-09-13", "close": 9.118886, "volume": 337366, "typical_volume": 263839.8, "trend": 8.517121, "fair_value": 10.56735, "relative_strength": -2.896823, "stage": 1, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 87.204225, "energy": 83.76077, "activity_lines": [ 8.902336, 8.803126, 8.685518, 8.598151 ] }, { "date": "2024-09-20", "close": 9.063787, "volume": 372489, "typical_volume": 269785.15, "trend": 8.533689, "fair_value": 10.528454, "relative_strength": -4.629191, "stage": 1, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 76.250763, "energy": 82.080711, "activity_lines": [ 8.977544, 8.862401, 8.730602, 8.633419 ] }, { "date": "2024-09-27", "close": 9.109703, "volume": 264653, "typical_volume": 269282.05, "trend": 8.551192, "fair_value": 10.490723, "relative_strength": -4.532905, "stage": 1, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 75.722109, "energy": 87.139674, "activity_lines": [ 9.043304, 8.922975, 8.776678, 8.670582 ] }, { "date": "2024-10-04", "close": 9.275, "volume": 436544, "typical_volume": 281051.75, "trend": 8.574324, "fair_value": 10.453309, "relative_strength": -2.960731, "stage": 1, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 82.445769, "energy": 90.584673, "activity_lines": [ 9.141839, 9.003928, 8.835349, 8.717279 ] }, { "date": "2024-10-11", "close": 9.170311, "volume": 306807, "typical_volume": 282046.65, "trend": 8.601446, "fair_value": 10.415481, "relative_strength": -4.992308, "stage": 1, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 68.411619, "energy": 82.130001, "activity_lines": [ 9.168475, 9.052835, 8.880419, 8.75573 ] }, { "date": "2024-10-18", "close": 9.345423, "volume": 208498, "typical_volume": 283569.85, "trend": 8.633807, "fair_value": 10.377542, "relative_strength": -3.827765, "stage": 1, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 81.110918, "energy": 83.757466, "activity_lines": [ 9.234437, 9.124958, 8.9383, 8.803728 ] }, { "date": "2024-10-25", "close": 9.09658, "volume": 165014, "typical_volume": 271926.7, "trend": 8.656975, "fair_value": 10.338264, "relative_strength": -5.25291, "stage": 1, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 65.085591, "energy": 57.799244, "activity_lines": [ 9.202349, 9.139699, 8.96705, 8.833585 ] }, { "date": "2024-11-01", "close": 9.105797, "volume": 98119, "typical_volume": 264331.65, "trend": 8.683443, "fair_value": 10.296374, "relative_strength": -3.597923, "stage": 1, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 60.962515, "energy": 49.1795, "activity_lines": [ 9.171146, 9.148769, 8.993314, 8.862541 ] }, { "date": "2024-11-08", "close": 9.059715, "volume": 206635, "typical_volume": 265299.45, "trend": 8.712992, "fair_value": 10.251847, "relative_strength": -8.106063, "stage": 1, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 47.456689, "energy": 37.954925, "activity_lines": [ 9.124844, 9.143443, 9.012562, 8.886816 ] }, { "date": "2024-11-15", "close": 8.991548, "volume": 245871, "typical_volume": 267054.2, "trend": 8.739067, "fair_value": 10.209924, "relative_strength": -6.549047, "stage": 1, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 38.887524, "energy": 22.61412, "activity_lines": [ 9.070172, 9.119546, 9.022608, 8.904788 ] }, { "date": "2024-11-22", "close": 8.778785, "volume": 329233, "typical_volume": 276510.1, "trend": 8.760153, "fair_value": 10.169421, "relative_strength": -9.909181, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 14.866734, "energy": 17.441025, "activity_lines": [ 8.956496, 9.05502, 9.010307, 8.90735 ] }, { "date": "2024-11-29", "close": 8.982297, "volume": 250863, "typical_volume": 275860.55, "trend": 8.781114, "fair_value": 10.129244, "relative_strength": -8.538497, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 23.589509, "energy": 20.092857, "activity_lines": [ 8.948433, 9.033681, 9.016362, 8.921682 ] }, { "date": "2024-12-06", "close": 9.000798, "volume": 414831, "typical_volume": 285973.35, "trend": 8.799507, "fair_value": 10.0872, "relative_strength": -8.759596, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 13.572434, "energy": 15.505941, "activity_lines": [ 8.954156, 9.017186, 9.022721, 8.935855 ] }, { "date": "2024-12-13", "close": 8.756513, "volume": 497446, "typical_volume": 294615.35, "trend": 8.807647, "fair_value": 10.044123, "relative_strength": -10.293698, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -4.951294, "energy": 15.938915, "activity_lines": [ 8.885451, 8.958257, 9.003799, 8.933081 ] }, { "date": "2024-12-20", "close": 8.43151, "volume": 657582, "typical_volume": 310992.55, "trend": 8.81008, "fair_value": 10.001223, "relative_strength": -11.654691, "stage": 1, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -40.981797, "energy": 45.095246, "activity_lines": [ 8.728625, 8.849663, 8.952986, 8.908814 ] }, { "date": "2024-12-27", "close": 8.338652, "volume": 458752, "typical_volume": 315208.8, "trend": 8.814543, "fair_value": 9.958557, "relative_strength": -12.819613, "stage": 1, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -44.911562, "energy": 63.967052, "activity_lines": [ 8.578182, 8.737619, 8.894589, 8.8784 ] }, { "date": "2025-01-03", "close": 8.552225, "volume": 501577, "typical_volume": 332637.85, "trend": 8.819944, "fair_value": 9.916172, "relative_strength": -9.749423, "stage": 1, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -34.9441, "energy": 63.688988, "activity_lines": [ 8.528272, 8.68271, 8.858147, 8.861476 ] }, { "date": "2025-01-10", "close": 8.282937, "volume": 466745, "typical_volume": 343104.05, "trend": 8.810905, "fair_value": 9.875826, "relative_strength": -10.511167, "stage": 1, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -48.543587, "energy": 71.149928, "activity_lines": [ 8.417272, 8.588738, 8.796727, 8.82683 ] }, { "date": "2025-01-17", "close": 8.270203, "volume": 521526, "typical_volume": 355764.25, "trend": 8.803561, "fair_value": 9.842406, "relative_strength": -12.869899, "stage": 4, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -72.510932, "energy": 78.96712, "activity_lines": [ 8.349883, 8.507412, 8.736437, 8.791946 ] }, { "date": "2025-01-24", "close": 8.307498, "volume": 457286, "typical_volume": 359891.85, "trend": 8.795341, "fair_value": 9.809692, "relative_strength": -13.636204, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -66.764736, "energy": 71.936319, "activity_lines": [ 8.327348, 8.447221, 8.68184, 8.759942 ] }, { "date": "2025-01-31", "close": 8.456678, "volume": 451327, "typical_volume": 365589.9, "trend": 8.791791, "fair_value": 9.777207, "relative_strength": -10.832643, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -62.515732, "energy": 58.911391, "activity_lines": [ 8.362806, 8.426591, 8.644199, 8.738093 ] }, { "date": "2025-02-07", "close": 8.596535, "volume": 271458, "typical_volume": 360538.35, "trend": 8.789138, "fair_value": 9.749496, "relative_strength": -8.879791, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -57.195771, "energy": 41.473116, "activity_lines": [ 8.437015, 8.437247, 8.623031, 8.725496 ] }, { "date": "2025-02-14", "close": 8.536937, "volume": 190628, "typical_volume": 356837.1, "trend": 8.787784, "fair_value": 9.720465, "relative_strength": -10.471546, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -43.822348, "energy": 29.475161, "activity_lines": [ 8.488404, 8.44408, 8.598412, 8.709225 ] }, { "date": "2025-02-21", "close": 8.742872, "volume": 160888, "typical_volume": 343054.3, "trend": 8.793901, "fair_value": 9.691399, "relative_strength": -6.53156, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -29.342009, "energy": 23.539026, "activity_lines": [ 8.591504, 8.496789, 8.596133, 8.706327 ] }, { "date": "2025-02-28", "close": 8.71479, "volume": 406014, "typical_volume": 348014.65, "trend": 8.794525, "fair_value": 9.662414, "relative_strength": -5.66253, "stage": 1, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -23.155957, "energy": 24.039341, "activity_lines": [ 8.653733, 8.544641, 8.593714, 8.701223 ] }, { "date": "2025-03-07", "close": 8.527576, "volume": 360125, "typical_volume": 355596.0, "trend": 8.789516, "fair_value": 9.633613, "relative_strength": -4.505174, "stage": 1, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -28.054993, "energy": 21.426122, "activity_lines": [ 8.626404, 8.553304, 8.575634, 8.684001 ] }, { "date": "2025-03-14", "close": 8.402143, "volume": 334224, "typical_volume": 364056.5, "trend": 8.779838, "fair_value": 9.605474, "relative_strength": -3.524204, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -44.60079, "energy": 22.562127, "activity_lines": [ 8.552538, 8.535725, 8.549503, 8.659009 ] }, { "date": "2025-03-21", "close": 8.42094, "volume": 359752, "typical_volume": 377138.15, "trend": 8.768041, "fair_value": 9.580438, "relative_strength": -3.638156, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -56.097701, "energy": 33.299362, "activity_lines": [ 8.497897, 8.524293, 8.528469, 8.635854 ] }, { "date": "2025-03-28", "close": 8.317558, "volume": 267734, "typical_volume": 380193.1, "trend": 8.754628, "fair_value": 9.5516, "relative_strength": -3.240279, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -65.501387, "energy": 57.503902, "activity_lines": [ 8.416528, 8.491555, 8.50085, 8.606791 ] }, { "date": "2025-04-04", "close": 8.317558, "volume": 414124, "typical_volume": 388605.75, "trend": 8.735725, "fair_value": 9.519962, "relative_strength": 6.37757, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -64.469237, "energy": 66.371812, "activity_lines": [ 8.363514, 8.457956, 8.476765, 8.578593 ] }, { "date": "2025-04-11", "close": 7.721701, "volume": 1022993, "typical_volume": 423293.75, "trend": 8.689152, "fair_value": 9.488603, "relative_strength": -6.341469, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -93.994681, "energy": 89.31685, "activity_lines": [ 8.138362, 8.315836, 8.399141, 8.513172 ] }, { "date": "2025-04-18", "close": 7.872737, "volume": 363634, "typical_volume": 428932.3, "trend": 8.649451, "fair_value": 9.458474, "relative_strength": -2.921836, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -82.847171, "energy": 89.863451, "activity_lines": [ 8.017281, 8.214541, 8.340935, 8.4605 ] }, { "date": "2025-04-25", "close": 8.042652, "volume": 456324, "typical_volume": 431006.95, "trend": 8.613882, "fair_value": 9.430801, "relative_strength": -4.997866, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -66.491987, "energy": 81.73814, "activity_lines": [ 7.988132, 8.157299, 8.304196, 8.421352 ] }, { "date": "2025-05-02", "close": 8.222007, "volume": 403413, "typical_volume": 426305.3, "trend": 8.578783, "fair_value": 9.405066, "relative_strength": -5.400418, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -63.810556, "energy": 69.859127, "activity_lines": [ 8.043988, 8.141655, 8.2891, 8.396069 ] }, { "date": "2025-05-09", "close": 8.222007, "volume": 270154, "typical_volume": 406933.9, "trend": 8.547172, "fair_value": 9.379038, "relative_strength": -4.772816, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -57.765658, "energy": 43.677921, "activity_lines": [ 8.106213, 8.13548, 8.27655, 8.373052 ] }, { "date": "2025-05-16", "close": 8.22771, "volume": 316372, "typical_volume": 399814.9, "trend": 8.509915, "fair_value": 9.359116, "relative_strength": -9.21762, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -40.620039, "energy": 25.243301, "activity_lines": [ 8.176709, 8.139303, 8.26554, 8.352441 ] }, { "date": "2025-05-23", "close": 7.9623, "volume": 427330, "typical_volume": 396102.55, "trend": 8.472106, "fair_value": 9.327677, "relative_strength": -9.601698, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -53.43637, "energy": 29.462589, "activity_lines": [ 8.125002, 8.10032, 8.229782, 8.317111 ] }, { "date": "2025-05-30", "close": 8.000216, "volume": 243965, "typical_volume": 384963.55, "trend": 8.435253, "fair_value": 9.296428, "relative_strength": -10.508586, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -50.084667, "energy": 31.886131, "activity_lines": [ 8.079962, 8.076229, 8.200444, 8.286667 ] }, { "date": "2025-06-06", "close": 7.990737, "volume": 487406, "typical_volume": 383257.55, "trend": 8.399621, "fair_value": 9.262401, "relative_strength": -11.7813, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -59.366551, "energy": 39.472271, "activity_lines": [ 8.034592, 8.058064, 8.171549, 8.257988 ] }, { "date": "2025-06-13", "close": 8.02474, "volume": 352083, "typical_volume": 377997.4, "trend": 8.367394, "fair_value": 9.234208, "relative_strength": -10.802625, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -56.072648, "energy": 41.317184, "activity_lines": [ 8.015974, 8.052024, 8.147224, 8.233802 ] }, { "date": "2025-06-20", "close": 8.02474, "volume": 205671, "typical_volume": 365714.6, "trend": 8.342259, "fair_value": 9.204638, "relative_strength": -10.39881, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -54.137135, "energy": 37.438887, "activity_lines": [ 8.010507, 8.051307, 8.124245, 8.211696 ] }, { "date": "2025-06-27", "close": 8.129452, "volume": 378705, "typical_volume": 371076.95, "trend": 8.313831, "fair_value": 9.173884, "relative_strength": -11.972467, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -49.892598, "energy": 29.398019, "activity_lines": [ 8.053475, 8.06412, 8.113295, 8.197966 ] }, { "date": "2025-07-04", "close": 8.272241, "volume": 270693, "typical_volume": 375080.2, "trend": 8.289545, "fair_value": 9.142377, "relative_strength": -11.648502, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -23.314589, "energy": 12.551192, "activity_lines": [ 8.132897, 8.098226, 8.118169, 8.195283 ] }, { "date": "2025-07-11", "close": 8.230356, "volume": 476659, "typical_volume": 390868.75, "trend": 8.272007, "fair_value": 9.113101, "relative_strength": -11.570809, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -9.387531, "energy": 12.736101, "activity_lines": [ 8.180221, 8.120543, 8.120314, 8.191464 ] }, { "date": "2025-07-18", "close": 7.975129, "volume": 321430, "typical_volume": 386639.55, "trend": 8.256794, "fair_value": 9.082669, "relative_strength": -14.511065, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -39.770065, "energy": 20.956771, "activity_lines": [ 8.126496, 8.096302, 8.100592, 8.172311 ] }, { "date": "2025-07-25", "close": 7.919686, "volume": 280046, "typical_volume": 382635.6, "trend": 8.242829, "fair_value": 9.053157, "relative_strength": -15.995102, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -58.931808, "energy": 28.258557, "activity_lines": [ 8.057597, 8.06647, 8.079112, 8.150562 ] }, { "date": "2025-08-01", "close": 7.962702, "volume": 421148, "typical_volume": 386981.8, "trend": 8.223178, "fair_value": 9.022698, "relative_strength": -13.029715, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -56.416023, "energy": 49.591157, "activity_lines": [ 8.01004, 8.05006, 8.064623, 8.132489 ] }, { "date": "2025-08-08", "close": 7.867111, "volume": 1243412, "typical_volume": 431164.8, "trend": 8.209317, "fair_value": 8.992075, "relative_strength": -15.703221, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -65.403214, "energy": 65.617523, "activity_lines": [ 7.941736, 8.016262, 8.043124, 8.109517 ] }, { "date": "2025-08-15", "close": 7.877689, "volume": 1498770, "typical_volume": 492716.6, "trend": 8.196233, "fair_value": 8.962, "relative_strength": -16.010424, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -63.279809, "energy": 67.683005, "activity_lines": [ 7.903966, 7.986807, 8.025269, 8.088122 ] }, { "date": "2025-08-22", "close": 7.911293, "volume": 1310684, "typical_volume": 537544.6, "trend": 8.183026, "fair_value": 8.932355, "relative_strength": -15.501476, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -60.8921, "energy": 65.147122, "activity_lines": [ 7.90091, 7.965518, 8.012709, 8.069739 ] }, { "date": "2025-08-29", "close": 7.949698, "volume": 856043, "typical_volume": 529197.1, "trend": 8.166127, "fair_value": 8.903009, "relative_strength": -14.6796, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -57.878764, "energy": 51.667554, "activity_lines": [ 7.91491, 7.953274, 8.005741, 8.054685 ] }, { "date": "2025-09-05", "close": 8.045708, "volume": 690549, "typical_volume": 545542.85, "trend": 8.147766, "fair_value": 8.873717, "relative_strength": -13.455624, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -50.810157, "energy": 30.029363, "activity_lines": [ 7.958913, 7.959851, 8.006831, 8.046916 ] }, { "date": "2025-09-12", "close": 8.3299, "volume": 814537, "typical_volume": 563453.5, "trend": 8.140865, "fair_value": 8.848072, "relative_strength": -11.338911, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": 2.141488, "energy": 13.833247, "activity_lines": [ 8.092113, 8.019621, 8.034163, 8.058667 ] }, { "date": "2025-09-19", "close": 8.435952, "volume": 892140, "typical_volume": 587889.85, "trend": 8.130634, "fair_value": 8.826863, "relative_strength": -10.89529, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "mixed", "direction": 41.692677, "energy": 41.748726, "activity_lines": [ 8.229812, 8.097626, 8.070228, 8.077705 ] }, { "date": "2025-09-26", "close": 8.368465, "volume": 751693, "typical_volume": 611966.8, "trend": 8.11909, "fair_value": 8.806187, "relative_strength": -10.938088, "stage": 4, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 42.934872, "energy": 60.564109, "activity_lines": [ 8.307796, 8.159622, 8.098847, 8.093048 ] }, { "date": "2025-10-03", "close": 8.474517, "volume": 645277, "typical_volume": 628412.05, "trend": 8.117321, "fair_value": 8.782273, "relative_strength": -10.353697, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 49.571429, "energy": 74.672743, "activity_lines": [ 8.390654, 8.233749, 8.136869, 8.115979 ] }, { "date": "2025-10-10", "close": 8.464876, "volume": 568008, "typical_volume": 635445.95, "trend": 8.119413, "fair_value": 8.760955, "relative_strength": -7.852886, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "up", "direction": 71.22851, "energy": 84.157284, "activity_lines": [ 8.43531, 8.296034, 8.172797, 8.138402 ] }, { "date": "2025-10-17", "close": 8.538187, "volume": 597960, "typical_volume": 653145.7, "trend": 8.123321, "fair_value": 8.741509, "relative_strength": -8.22784, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 78.235994, "energy": 88.488313, "activity_lines": [ 8.476458, 8.362519, 8.213313, 8.16542 ] }, { "date": "2025-10-24", "close": 8.59627, "volume": 763267, "typical_volume": 666938.75, "trend": 8.132611, "fair_value": 8.720332, "relative_strength": -8.957036, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 79.782493, "energy": 89.077514, "activity_lines": [ 8.523082, 8.427363, 8.2568, 8.195933 ] }, { "date": "2025-10-31", "close": 8.59627, "volume": 692582, "typical_volume": 683963.7, "trend": 8.141902, "fair_value": 8.695489, "relative_strength": -9.156039, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 74.205387, "energy": 84.518489, "activity_lines": [ 8.559017, 8.479142, 8.297403, 8.225846 ] }, { "date": "2025-11-07", "close": 8.625312, "volume": 386305, "typical_volume": 692995.4, "trend": 8.172022, "fair_value": 8.667943, "relative_strength": -7.023766, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 74.73205, "energy": 85.121424, "activity_lines": [ 8.589447, 8.523747, 8.338051, 8.257034 ] }, { "date": "2025-11-14", "close": 8.62144, "volume": 489297, "typical_volume": 698525.0, "trend": 8.196979, "fair_value": 8.641238, "relative_strength": -6.847742, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 70.173791, "energy": 71.552217, "activity_lines": [ 8.608532, 8.555364, 8.37547, 8.286029 ] }, { "date": "2025-11-21", "close": 8.475643, "volume": 1006244, "typical_volume": 735302.55, "trend": 8.211412, "fair_value": 8.610783, "relative_strength": -6.361264, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 64.120475, "energy": 55.021986, "activity_lines": [ 8.568581, 8.550005, 8.396661, 8.304007 ] }, { "date": "2025-11-28", "close": 8.59228, "volume": 844471, "typical_volume": 753693.15, "trend": 8.223754, "fair_value": 8.576257, "relative_strength": -8.132968, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 64.8916, "energy": 49.40387, "activity_lines": [ 8.571679, 8.563202, 8.427991, 8.328579 ] }, { "date": "2025-12-05", "close": 8.514522, "volume": 1787587, "typical_volume": 827001.0, "trend": 8.233505, "fair_value": 8.545429, "relative_strength": -8.940815, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 48.432815, "energy": 37.366023, "activity_lines": [ 8.549123, 8.55942, 8.450193, 8.347338 ] }, { "date": "2025-12-12", "close": 8.461955, "volume": 1384671, "typical_volume": 882232.25, "trend": 8.241313, "fair_value": 8.514222, "relative_strength": -8.690824, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 43.244435, "energy": 29.108961, "activity_lines": [ 8.514495, 8.543424, 8.464819, 8.362077 ] }, { "date": "2025-12-19", "close": 8.569315, "volume": 1465905, "typical_volume": 934470.1, "trend": 8.261547, "fair_value": 8.485009, "relative_strength": -7.403703, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 47.738176, "energy": 32.951115, "activity_lines": [ 8.526544, 8.547177, 8.487088, 8.383238 ] }, { "date": "2025-12-26", "close": 8.500995, "volume": 1235561, "typical_volume": 934077.55, "trend": 8.278239, "fair_value": 8.457481, "relative_strength": -9.196028, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 40.01195, "energy": 26.123087, "activity_lines": [ 8.519295, 8.536609, 8.499962, 8.398687 ] }, { "date": "2026-01-02", "close": 8.540035, "volume": 1607884, "typical_volume": 939533.25, "trend": 8.296549, "fair_value": 8.444027, "relative_strength": -7.548229, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 41.883241, "energy": 26.80619, "activity_lines": [ 8.523369, 8.533815, 8.513536, 8.415577 ] }, { "date": "2026-01-09", "close": 8.686436, "volume": 728447, "typical_volume": 910421.4, "trend": 8.318606, "fair_value": 8.438285, "relative_strength": -7.186587, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 70.061864, "energy": 44.301772, "activity_lines": [ 8.579726, 8.558662, 8.537898, 8.440731 ] }, { "date": "2026-01-16", "close": 8.731411, "volume": 540385, "typical_volume": 894638.5, "trend": 8.342162, "fair_value": 8.431847, "relative_strength": -6.196659, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 72.384424, "energy": 53.088015, "activity_lines": [ 8.639614, 8.590047, 8.562852, 8.467363 ] }, { "date": "2026-01-23", "close": 8.643215, "volume": 631936, "typical_volume": 891707.85, "trend": 8.359287, "fair_value": 8.426592, "relative_strength": -6.645512, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 59.074465, "energy": 54.73719, "activity_lines": [ 8.652139, 8.603468, 8.575685, 8.486786 ] }, { "date": "2026-01-30", "close": 8.809807, "volume": 572375, "typical_volume": 879599.75, "trend": 8.377206, "fair_value": 8.423278, "relative_strength": -5.021048, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 76.367523, "energy": 74.259662, "activity_lines": [ 8.715269, 8.646781, 8.601538, 8.515852 ] }, { "date": "2026-02-06", "close": 8.868605, "volume": 953109, "typical_volume": 882648.2, "trend": 8.398481, "fair_value": 8.420691, "relative_strength": -3.974972, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 78.675696, "energy": 79.442535, "activity_lines": [ 8.77741, 8.69471, 8.630705, 8.547555 ] }, { "date": "2026-02-13", "close": 8.97248, "volume": 1145953, "typical_volume": 902361.2, "trend": 8.431726, "fair_value": 8.420851, "relative_strength": -1.443869, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 83.24786, "energy": 84.341376, "activity_lines": [ 8.852272, 8.756501, 8.667706, 8.584587 ] }, { "date": "2026-02-20", "close": 8.97248, "volume": 409379, "typical_volume": 890566.3, "trend": 8.466819, "fair_value": 8.422326, "relative_strength": -2.298451, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 78.06432, "energy": 88.451509, "activity_lines": [ 8.908064, 8.809966, 8.70183, 8.619475 ] }, { "date": "2026-02-27", "close": 8.97248, "volume": 732501, "typical_volume": 898790.95, "trend": 8.500478, "fair_value": 8.42391, "relative_strength": -1.558518, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 72.431635, "energy": 88.387743, "activity_lines": [ 8.947785, 8.854148, 8.733582, 8.652098 ] }, { "date": "2026-03-06", "close": 8.756039, "volume": 851236, "typical_volume": 911454.75, "trend": 8.530109, "fair_value": 8.424567, "relative_strength": -1.71014, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 65.459818, "energy": 62.394356, "activity_lines": [ 8.893408, 8.851647, 8.742304, 8.668586 ] }, { "date": "2026-03-13", "close": 8.643883, "volume": 757999, "typical_volume": 911191.35, "trend": 8.555649, "fair_value": 8.424835, "relative_strength": -1.196556, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 40.783994, "energy": 33.61713, "activity_lines": [ 8.80523, 8.824117, 8.739308, 8.675926 ] }, { "date": "2026-03-20", "close": 8.495702, "volume": 576530, "typical_volume": 905388.75, "trend": 8.575129, "fair_value": 8.424813, "relative_strength": -0.821579, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 4.62042, "energy": 16.979581, "activity_lines": [ 8.68264, 8.767756, 8.721972, 8.672058 ] }, { "date": "2026-03-27", "close": 8.337642, "volume": 749989, "typical_volume": 923572.95, "trend": 8.588061, "fair_value": 8.422843, "relative_strength": -0.154553, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "mixed", "direction": -40.618749, "energy": 43.082405, "activity_lines": [ 8.539148, 8.686126, 8.690061, 8.656737 ] }, { "date": "2026-04-03", "close": 8.475944, "volume": 790056, "typical_volume": 938610.9, "trend": 8.602402, "fair_value": 8.42121, "relative_strength": -1.326114, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "mixed", "direction": -24.138737, "energy": 39.1201, "activity_lines": [ 8.48408, 8.6368, 8.672692, 8.649503 ] }, { "date": "2026-04-10", "close": 8.673519, "volume": 1292576, "typical_volume": 952927.5, "trend": 8.613856, "fair_value": 8.421196, "relative_strength": -2.270424, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -21.669025, "energy": 32.741955, "activity_lines": [ 8.527972, 8.626439, 8.674833, 8.654092 ] }, { "date": "2026-04-17", "close": 8.709082, "volume": 999344, "typical_volume": 960671.15, "trend": 8.62296, "fair_value": 8.422182, "relative_strength": -5.711749, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -11.223611, "energy": 19.307688, "activity_lines": [ 8.58922, 8.625022, 8.679418, 8.660235 ] }, { "date": "2026-04-24", "close": 8.73884, "volume": 512848, "typical_volume": 896934.2, "trend": 8.635306, "fair_value": 8.422972, "relative_strength": -5.539349, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 12.651459, "energy": 9.893269, "activity_lines": [ 8.656041, 8.631915, 8.686281, 8.667711 ] }, { "date": "2026-05-01", "close": 8.709082, "volume": 608355, "typical_volume": 858118.4, "trend": 8.643125, "fair_value": 8.423462, "relative_strength": -6.377905, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 15.433328, "energy": 18.305798, "activity_lines": [ 8.696733, 8.637647, 8.689242, 8.672471 ] }, { "date": "2026-05-08", "close": 8.847951, "volume": 595870, "typical_volume": 814616.65, "trend": 8.655894, "fair_value": 8.425693, "relative_strength": -6.692287, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 49.746708, "energy": 33.695647, "activity_lines": [ 8.758952, 8.673416, 8.704252, 8.685686 ] }, { "date": "2026-05-15", "close": 8.654754, "volume": 526938, "typical_volume": 779185.5, "trend": 8.65978, "fair_value": 8.427351, "relative_strength": -8.607065, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 33.658093, "energy": 23.142375, "activity_lines": [ 8.731972, 8.676322, 8.699535, 8.685612 ] }, { "date": "2026-05-22", "close": 8.624876, "volume": 884171, "typical_volume": 742999.85, "trend": 8.660733, "fair_value": 8.429702, "relative_strength": -9.394633, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 25.373345, "energy": 13.707013, "activity_lines": [ 8.696284, 8.675638, 8.69124, 8.68336 ] }, { "date": "2026-05-29", "close": 8.814105, "volume": 618631, "typical_volume": 737509.05, "trend": 8.667994, "fair_value": 8.431828, "relative_strength": -8.447003, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 52.141604, "energy": 24.508637, "activity_lines": [ 8.729285, 8.709704, 8.700563, 8.693255 ] }, { "date": "2026-06-05", "close": 8.824065, "volume": 904619, "typical_volume": 755720.75, "trend": 8.674619, "fair_value": 8.43343, "relative_strength": -5.773814, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 51.302103, "energy": 23.748681, "activity_lines": [ 8.760589, 8.739792, 8.710227, 8.703324 ] }, { "date": "2026-06-12", "close": 8.754349, "volume": 738497, "typical_volume": 761048.8, "trend": 8.67905, "fair_value": 8.434919, "relative_strength": -6.794376, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 43.583438, "energy": 22.58388, "activity_lines": [ 8.760988, 8.748361, 8.71281, 8.708468 ] }, { "date": "2026-06-19", "close": 8.814105, "volume": 281910, "typical_volume": 746525.55, "trend": 8.690332, "fair_value": 8.43679, "relative_strength": -6.761092, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 50.475951, "energy": 40.988925, "activity_lines": [ 8.787547, 8.762732, 8.720555, 8.717181 ] }, { "date": "2026-06-26", "close": 8.863903, "volume": 502751, "typical_volume": 724007.65, "trend": 8.699386, "fair_value": 8.439148, "relative_strength": -3.774721, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 57.370703, "energy": 47.232086, "activity_lines": [ 8.820081, 8.783602, 8.733022, 8.72838 ] }, { "date": "2026-07-03", "close": 8.963497, "volume": 632596, "typical_volume": 698339.8, "trend": 8.714352, "fair_value": 8.442033, "relative_strength": -4.561968, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 69.391591, "energy": 57.31331, "activity_lines": [ 8.869878, 8.819764, 8.754996, 8.745419 ] }, { "date": "2026-07-10", "close": 8.834024, "volume": 669106, "typical_volume": 711326.15, "trend": 8.726754, "fair_value": 8.443164, "relative_strength": -6.974648, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 56.062961, "energy": 53.782362, "activity_lines": [ 8.866558, 8.828302, 8.764683, 8.75314 ] }, { "date": "2026-07-17", "close": 8.85, "volume": 485222, "typical_volume": 698962.2, "trend": 8.73611, "fair_value": 8.442892, "relative_strength": -5.208017, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 53.850205, "energy": 47.699099, "activity_lines": [ 8.8679, 8.837472, 8.77655, 8.761091 ] }, { "date": "2026-07-24", "close": 8.56, "volume": 734405, "typical_volume": 693120.65, "trend": 8.738077, "fair_value": 8.440482, "relative_strength": -7.634069, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 11.204092, "energy": 6.400418, "activity_lines": [ 8.766198, 8.793878, 8.761382, 8.749729 ] }, { "date": "2026-07-31", "close": 8.59, "volume": 795780, "typical_volume": 695009.7, "trend": 8.739743, "fair_value": 8.440161, "relative_strength": -8.111052, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -11.062766, "energy": 17.37627, "activity_lines": [ 8.691436, 8.757461, 8.750004, 8.740176 ] }, { "date": "2026-08-07", "close": 8.78, "volume": 566153, "typical_volume": 694490.85, "trend": 8.742861, "fair_value": 8.441471, "relative_strength": -9.106863, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -13.163014, "energy": 18.001954, "activity_lines": [ 8.698268, 8.756224, 8.756978, 8.742773 ] } ], "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." } } }