{ "ticker": { "uuid": "da48a46d-1bd8-43c1-acbc-643b21f38bc9", "symbol": "FTHI", "name": "Fidelity Tactical High Income Fund ETF", "exchange": "TOR", "country": "CA", "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": "^GSPTSE", "stage": 3, "stage_name": "Distribution", "phase": "3a", "phase_label": "Stage 3A \u00b7 Churning", "transition": "stage_3_churning", "transition_label": "Stage 3 range intact", "confidence": 95.474, "architecture_regime": "balance", "architecture_regime_label": "Balance", "architecture_modifier": "Upper balance after advance", "architecture_gate": "up", "architecture_direction": 6.535, "architecture_energy": 17.18, "architecture_maturity": 12.508, "architecture_confidence": 70.144, "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": 57.2, "rotation_up": 19.38, "upward_expansion": 43.14, "deceleration": 80.01, "rotation_down": 41.7, "downward_expansion": 34.8 }, "activity_lines": [ 11.928719, 12.019167, 12.063426, 12.006424 ], "activity_state": "Compressed", "activity_direction": "Contracting", "rotation_direction": "Weakening", "price_acceptance": -0.333333 }, "latest_close": 12.01, "trend_reference": 11.924555, "distance_from_trend": 0.007165, "trend_direction": "Improving", "fair_value": 11.205967, "distance_from_fair_value": 0.07175, "fair_value_direction": "Weakening", "relative_strength": -10.671709, "relative_strength_direction": "Weakening", "price_momentum": 0.028236, "excess_performance": -0.092185, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.007165, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.003859, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.07175, "read": "Premium" }, { "label": "Fair Value direction", "positive": false, "value": -0.026955, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.106717, "read": "Lagging" }, { "label": "Relative strength direction", "positive": false, "value": -0.035935, "read": "Weakening" }, { "label": "Price momentum", "positive": true, "value": 0.028236, "read": "Positive" }, { "label": "Volume balance", "positive": true, "value": 4.751375, "read": "Demand-led" } ], "volume": { "latest": 4700, "relative_activity": 0.159565, "balance": 4.751375, "dry_up": 0.36751, "accumulation_observations": 1, "distribution_observations": 1 }, "risk": { "range_context": 0.026574, "annualized_volatility": 0.127344, "from_high_reference": -0.049913, "from_low_reference": 0.068596 }, "levels": { "trend_reference": 11.924555, "fair_value_reference": 11.205967, "structural_low": 11.364018, "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": 3, "median_return": 0.012472, "positive_rate": 0.666667, "directional_follow_through": 0.666667, "median_excess_return": -0.00426, "regime_survival": 0.666667, "best_return": 0.045541, "worst_return": -0.032527, "sufficient": false }, { "horizon": "Intermediate", "sample_count": 1, "median_return": 0.028084, "positive_rate": 1.0, "directional_follow_through": 1.0, "median_excess_return": 0.015588, "regime_survival": 0.0, "best_return": 0.028084, "worst_return": 0.028084, "sufficient": false }, { "horizon": "Extended", "sample_count": 0, "median_return": null, "positive_rate": null, "directional_follow_through": null, "median_excess_return": null, "regime_survival": null, "best_return": null, "worst_return": null, "sufficient": false }, { "horizon": "Full cycle", "sample_count": 0, "median_return": null, "positive_rate": null, "directional_follow_through": null, "median_excess_return": null, "regime_survival": null, "best_return": null, "worst_return": null, "sufficient": false } ], "ledger": [ { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2025-11-28", "end": "2025-12-26", "tenure": "Developing", "return": -0.018803, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2026-01-02", "end": "2026-01-23", "tenure": "New", "return": 0.041337, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2026-01-30", "end": "2026-02-20", "tenure": "New", "return": 0.031952, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-02-27", "end": "2026-05-01", "tenure": "Developing", "return": 0.002377, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2026-05-08", "end": "2026-05-29", "tenure": "New", "return": 0.004663, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-06-05", "end": "2026-07-24", "tenure": "Developing", "return": -0.010104, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-07-31", "end": "2026-08-07", "tenure": "New", "return": 0.016935, "active": true } ], "chart_path": [ { "date": "2024-05-24", "close": 10.082761, "volume": 1046, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-05-31", "close": 10.013088, "volume": 5136, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-06-07", "close": 10.182299, "volume": 78363, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-06-14", "close": 10.182299, "volume": 8749, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-06-21", "close": 10.202202, "volume": 18544, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-06-28", "close": 10.085487, "volume": 17974, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-07-05", "close": 10.095461, "volume": 20352, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-07-12", "close": 10.185243, "volume": 46028, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-07-19", "close": 10.155316, "volume": 13695, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-07-26", "close": 10.275023, "volume": 17403, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-08-02", "close": 10.284029, "volume": 2188, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-08-09", "close": 10.073943, "volume": 13220, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-08-16", "close": 10.224007, "volume": 5135, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-08-23", "close": 10.173985, "volume": 29861, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-08-30", "close": 10.123005, "volume": 5516, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-09-06", "close": 10.022773, "volume": 16642, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-09-13", "close": 10.183137, "volume": 18830, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-09-20", "close": 10.353522, "volume": 20922, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-09-27", "close": 10.308458, "volume": 34902, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-10-04", "close": 10.459167, "volume": 29481, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-10-11", "close": 10.559639, "volume": 88159, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-10-18", "close": 10.650066, "volume": 29386, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-10-25", "close": 10.539544, "volume": 26437, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-01", "close": 10.535516, "volume": 39656, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-08", "close": 10.757106, "volume": 38706, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-15", "close": 10.8679, "volume": 22919, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-22", "close": 11.018984, "volume": 7608, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-29", "close": 11.188306, "volume": 20445, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-12-06", "close": 11.299284, "volume": 9986, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-12-13", "close": 11.147954, "volume": 11603, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-12-20", "close": 10.986532, "volume": 18640, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-12-27", "close": 11.043982, "volume": 12744, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-03", "close": 11.043982, "volume": 13599, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-10", "close": 11.023755, "volume": 14931, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-17", "close": 11.286707, "volume": 22919, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-24", "close": 11.286707, "volume": 21016, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-31", "close": 11.295766, "volume": 27960, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-02-07", "close": 11.138667, "volume": 27580, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-02-14", "close": 11.108262, "volume": 16072, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-02-21", "close": 10.996773, "volume": 21589, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-02-28", "close": 11.024197, "volume": 13599, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-03-07", "close": 10.750114, "volume": 38135, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-03-14", "close": 10.628301, "volume": 7132, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-03-21", "close": 10.760267, "volume": 45648, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-03-28", "close": 10.638453, "volume": 26914, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-04-04", "close": 10.143971, "volume": 26247, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-04-11", "close": 9.726818, "volume": 9225, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-04-18", "close": 9.930307, "volume": 761, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-04-25", "close": 10.20502, "volume": 10555, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-02", "close": 10.358812, "volume": 14931, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-09", "close": 10.420046, "volume": 6466, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-16", "close": 10.716014, "volume": 29005, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-23", "close": 10.511898, "volume": 20256, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-30", "close": 10.550537, "volume": 36232, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-06-06", "close": 10.581238, "volume": 2473, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-06-13", "close": 10.601705, "volume": 18545, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-06-20", "close": 10.755204, "volume": 4946, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-06-27", "close": 10.878004, "volume": 30432, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-07-04", "close": 10.957, "volume": 10461, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-07-11", "close": 11.090373, "volume": 3804, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-07-18", "close": 11.182708, "volume": 5896, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-07-25", "close": 11.234006, "volume": 34332, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-01", "close": 11.218468, "volume": 2948, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-08", "close": 11.321389, "volume": 2092, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-15", "close": 11.465478, "volume": 2092, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-22", "close": 11.455188, "volume": 2662, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-29", "close": 11.473751, "volume": 3899, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-09-05", "close": 11.556222, "volume": 3709, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-09-12", "close": 11.834559, "volume": 3233, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-09-19", "close": 11.978883, "volume": 11032, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-09-26", "close": 11.978883, "volume": 1522, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-10-03", "close": 12.180341, "volume": 4280, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-10-10", "close": 12.216499, "volume": 1237, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-10-17", "close": 12.221664, "volume": 475, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-10-24", "close": 12.3663, "volume": 5041, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-10-31", "close": 12.42318, "volume": 7703, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-11-07", "close": 12.32985, "volume": 5705, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-11-14", "close": 12.132821, "volume": 15121, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-11-21", "close": 11.883943, "volume": 26628, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-11-28", "close": 12.150476, "volume": 1046, "typical_volume": 7032.65, "trend": 11.455554, "fair_value": 10.890919, "relative_strength": -7.252394, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 43.721966, "energy": 33.58631, "activity_lines": [ 12.117966, 12.183238, 12.031589, 11.799168 ] }, { "date": "2025-12-05", "close": 12.098551, "volume": 4850, "typical_volume": 6980.35, "trend": 11.511504, "fair_value": 10.905828, "relative_strength": -7.209864, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 37.961583, "energy": 24.616286, "activity_lines": [ 12.089465, 12.166902, 12.057144, 11.840652 ] }, { "date": "2025-12-12", "close": 12.036239, "volume": 15978, "typical_volume": 6062.65, "trend": 11.555512, "fair_value": 10.919614, "relative_strength": -8.068422, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 33.706285, "energy": 22.522272, "activity_lines": [ 12.061836, 12.137061, 12.072402, 11.874506 ] }, { "date": "2025-12-19", "close": 11.932388, "volume": 21778, "typical_volume": 7004.15, "trend": 11.602862, "fair_value": 10.931816, "relative_strength": -9.219234, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 31.806964, "energy": 18.004753, "activity_lines": [ 12.019163, 12.090959, 12.07395, 11.898821 ] }, { "date": "2025-12-26", "close": 11.922005, "volume": 3519, "typical_volume": 7075.5, "trend": 11.648577, "fair_value": 10.943604, "relative_strength": -9.684264, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 18.041596, "energy": 15.246354, "activity_lines": [ 11.986391, 12.048134, 12.07111, 11.91941 ] }, { "date": "2026-01-02", "close": 11.253427, "volume": 11300, "typical_volume": 7535.9, "trend": 11.670984, "fair_value": 10.947249, "relative_strength": -14.087392, "stage": 3, "regime": "rotation_down", "modifier": "Structural failure", "gate": "up", "direction": -25.808737, "energy": 33.603668, "activity_lines": [ 11.728223, 11.889198, 12.001735, 11.893917 ] }, { "date": "2026-01-09", "close": 11.639428, "volume": 2900, "typical_volume": 7547.8, "trend": 11.705574, "fair_value": 10.955297, "relative_strength": -12.768071, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -22.38848, "energy": 39.004819, "activity_lines": [ 11.658525, 11.820678, 11.970132, 11.891881 ] }, { "date": "2026-01-16", "close": 11.847276, "volume": 2400, "typical_volume": 7472.85, "trend": 11.741977, "fair_value": 10.96555, "relative_strength": -11.980414, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -19.529853, "energy": 36.711637, "activity_lines": [ 11.688718, 11.804199, 11.957447, 11.901023 ] }, { "date": "2026-01-23", "close": 11.718607, "volume": 8300, "typical_volume": 7702.4, "trend": 11.769997, "fair_value": 10.974107, "relative_strength": -12.841904, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -18.85359, "energy": 34.063908, "activity_lines": [ 11.688619, 11.773099, 11.930729, 11.899515 ] }, { "date": "2026-01-30", "close": 11.491644, "volume": 3900, "typical_volume": 7735.75, "trend": 11.787818, "fair_value": 10.979922, "relative_strength": -10.911482, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -27.644899, "energy": 25.631949, "activity_lines": [ 11.627117, 11.708264, 11.881622, 11.881557 ] }, { "date": "2026-02-06", "close": 11.680195, "volume": 3000, "typical_volume": 7334.15, "trend": 11.807479, "fair_value": 10.987703, "relative_strength": -10.644484, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -24.868823, "energy": 20.64743, "activity_lines": [ 11.657157, 11.684845, 11.852105, 11.874614 ] }, { "date": "2026-02-13", "close": 11.680195, "volume": 2600, "typical_volume": 7388.05, "trend": 11.824062, "fair_value": 10.995313, "relative_strength": -11.924641, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -24.24456, "energy": 22.080536, "activity_lines": [ 11.658745, 11.669975, 11.824011, 11.866402 ] }, { "date": "2026-02-20", "close": 11.85882, "volume": 5500, "typical_volume": 7449.05, "trend": 11.844889, "fair_value": 11.004699, "relative_strength": -12.179639, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -10.751549, "energy": 13.421478, "activity_lines": [ 11.717157, 11.69519, 11.814351, 11.868644 ] }, { "date": "2026-02-27", "close": 11.910366, "volume": 10100, "typical_volume": 7892.2, "trend": 11.867952, "fair_value": 11.014437, "relative_strength": -12.773223, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -0.262701, "energy": 7.243877, "activity_lines": [ 11.791982, 11.733002, 11.811131, 11.872869 ] }, { "date": "2026-03-06", "close": 11.830898, "volume": 12700, "typical_volume": 8503.45, "trend": 11.884936, "fair_value": 11.023123, "relative_strength": -9.730649, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -27.387995, "energy": 17.947401, "activity_lines": [ 11.827533, 11.756766, 11.8018, 11.870478 ] }, { "date": "2026-03-13", "close": 11.572624, "volume": 14300, "typical_volume": 8966.4, "trend": 11.888507, "fair_value": 11.028907, "relative_strength": -9.893294, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -42.707295, "energy": 20.866308, "activity_lines": [ 11.754376, 11.735227, 11.769733, 11.850329 ] }, { "date": "2026-03-20", "close": 11.582559, "volume": 8000, "typical_volume": 8981.25, "trend": 11.892753, "fair_value": 11.034674, "relative_strength": -6.009901, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -52.840468, "energy": 25.878422, "activity_lines": [ 11.691702, 11.709692, 11.742391, 11.83059 ] }, { "date": "2026-03-27", "close": 11.522958, "volume": 13200, "typical_volume": 9356.0, "trend": 11.894393, "fair_value": 11.039708, "relative_strength": -8.064975, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -56.268275, "energy": 39.453858, "activity_lines": [ 11.615671, 11.674354, 11.713376, 11.806733 ] }, { "date": "2026-04-03", "close": 11.763958, "volume": 8700, "typical_volume": 9034.95, "trend": 11.901318, "fair_value": 11.047099, "relative_strength": -9.029203, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -48.885844, "energy": 38.115157, "activity_lines": [ 11.642363, 11.68873, 11.711156, 11.798317 ] }, { "date": "2026-04-10", "close": 11.798807, "volume": 8000, "typical_volume": 8103.55, "trend": 11.900126, "fair_value": 11.054692, "relative_strength": -10.075367, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -43.789134, "energy": 23.542867, "activity_lines": [ 11.690432, 11.708618, 11.714011, 11.791704 ] }, { "date": "2026-04-17", "close": 11.997943, "volume": 10200, "typical_volume": 8561.25, "trend": 11.900761, "fair_value": 11.064124, "relative_strength": -10.017804, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -2.297651, "energy": 6.179166, "activity_lines": [ 11.807019, 11.759128, 11.736237, 11.798014 ] }, { "date": "2026-04-24", "close": 12.047727, "volume": 6000, "typical_volume": 8618.75, "trend": 11.903056, "fair_value": 11.073863, "relative_strength": -8.203872, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 23.6362, "energy": 25.414331, "activity_lines": [ 11.911847, 11.812913, 11.763931, 11.807496 ] }, { "date": "2026-05-01", "close": 11.938673, "volume": 5200, "typical_volume": 8079.85, "trend": 11.895001, "fair_value": 11.082341, "relative_strength": -8.720986, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 16.189198, "energy": 31.584476, "activity_lines": [ 11.949312, 11.840187, 11.78148, 11.809794 ] }, { "date": "2026-05-08", "close": 12.188019, "volume": 15000, "typical_volume": 7740.95, "trend": 11.894051, "fair_value": 11.093076, "relative_strength": -7.078174, "stage": 3, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 35.896703, "energy": 53.829197, "activity_lines": [ 12.042177, 11.911345, 11.823242, 11.828698 ] }, { "date": "2026-05-15", "close": 12.108228, "volume": 5700, "typical_volume": 7850.0, "trend": 11.89027, "fair_value": 11.102837, "relative_strength": -6.764741, "stage": 3, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 35.30991, "energy": 53.607949, "activity_lines": [ 12.080175, 11.962947, 11.856186, 11.842516 ] }, { "date": "2026-05-22", "close": 12.197992, "volume": 5700, "typical_volume": 7570.0, "trend": 11.88466, "fair_value": 11.113267, "relative_strength": -7.56966, "stage": 3, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 39.705749, "energy": 52.926372, "activity_lines": [ 12.127467, 12.025827, 11.896794, 11.862369 ] }, { "date": "2026-05-29", "close": 12.244857, "volume": 408400, "typical_volume": 27845.0, "trend": 11.878716, "fair_value": 11.123943, "relative_strength": -7.773194, "stage": 3, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "up", "direction": 67.199806, "energy": 62.699936, "activity_lines": [ 12.177043, 12.085858, 11.937366, 11.885608 ] }, { "date": "2026-06-05", "close": 12.045266, "volume": 1600, "typical_volume": 27805.0, "trend": 11.86923, "fair_value": 11.132553, "relative_strength": -8.106025, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 57.60435, "energy": 43.018404, "activity_lines": [ 12.146947, 12.097558, 11.956047, 11.896353 ] }, { "date": "2026-06-12", "close": 12.075205, "volume": 0, "typical_volume": 27390.0, "trend": 11.867309, "fair_value": 11.141281, "relative_strength": -9.01051, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 56.134623, "energy": 37.401474, "activity_lines": [ 12.119725, 12.105205, 11.976636, 11.909642 ] }, { "date": "2026-06-19", "close": 12.614099, "volume": 2000, "typical_volume": 27295.0, "trend": 11.891648, "fair_value": 11.154793, "relative_strength": -4.816408, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 82.074904, "energy": 60.235435, "activity_lines": [ 12.279655, 12.205174, 12.046851, 11.957822 ] }, { "date": "2026-06-26", "close": 12.013251, "volume": 7000, "typical_volume": 27495.0, "trend": 11.887074, "fair_value": 11.162598, "relative_strength": -9.083332, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 53.34791, "energy": 34.108132, "activity_lines": [ 12.205577, 12.181074, 12.054497, 11.965667 ] }, { "date": "2026-07-03", "close": 12.261672, "volume": 1700, "typical_volume": 27450.0, "trend": 11.892511, "fair_value": 11.172499, "relative_strength": -7.638159, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 56.076617, "energy": 35.806632, "activity_lines": [ 12.226622, 12.201863, 12.084216, 11.989835 ] }, { "date": "2026-07-10", "close": 12.132393, "volume": 47400, "typical_volume": 29545.0, "trend": 11.895716, "fair_value": 11.18107, "relative_strength": -8.450042, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 51.170649, "energy": 33.322817, "activity_lines": [ 12.203454, 12.195257, 12.098853, 12.005311 ] }, { "date": "2026-07-17", "close": 11.868862, "volume": 15600, "typical_volume": 29820.0, "trend": 11.893598, "fair_value": 11.187156, "relative_strength": -9.997599, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 19.679125, "energy": 15.222867, "activity_lines": [ 12.086633, 12.137214, 12.08709, 12.003578 ] }, { "date": "2026-07-24", "close": 11.923556, "volume": 9400, "typical_volume": 29655.0, "trend": 11.89365, "fair_value": 11.193616, "relative_strength": -9.519223, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 18.391708, "energy": 14.756513, "activity_lines": [ 12.0018, 12.094918, 12.080734, 12.005511 ] }, { "date": "2026-07-31", "close": 11.81, "volume": 13600, "typical_volume": 29620.0, "trend": 11.912203, "fair_value": 11.198976, "relative_strength": -9.644394, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": -1.67126, "energy": 15.480782, "activity_lines": [ 11.925151, 12.035333, 12.063121, 12.000114 ] }, { "date": "2026-08-07", "close": 12.01, "volume": 4700, "typical_volume": 29455.0, "trend": 11.924555, "fair_value": 11.205967, "relative_strength": -10.671709, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 6.534914, "energy": 17.180387, "activity_lines": [ 11.928719, 12.019167, 12.063426, 12.006424 ] } ], "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." } } }