{ "ticker": { "uuid": "dcd42af3-e278-46a9-b04e-23ef549f0c9c", "symbol": "PNBGILTS", "name": "PNB Gilts Ltd.", "exchange": "NSI", "country": "IN", "assetType": "equity" }, "methodBoundary": "Trend Architecture is a weekly structural classification, not a forecast, probability of return, recommendation or execution signal. Confidence measures geometric agreement and external confirmation only.", "analysis": { "eligible": true, "as_of": "2026-08-07", "benchmark": "^NSEI", "stage": 1, "stage_name": "Basing", "phase": "1c", "phase_label": "Stage 1C \u00b7 Breakout watch", "transition": "stage_1_to_2_watch", "transition_label": "Stage 1 \u2192 2 watch", "confidence": 96.0, "architecture_regime": "deceleration", "architecture_regime_label": "Deceleration", "architecture_modifier": "Recompressing", "architecture_gate": "up", "architecture_direction": 26.746, "architecture_energy": 19.185, "architecture_maturity": 49.649, "architecture_confidence": 83.361, "architecture_tenure": "New", "architecture": { "interpretation": { "headline": "The upward structure remains, but its energy is decelerating.", "body": "Trend remains positive, but Activity or price acceptance is losing strength. This can become a healthy recompression, a re-acceleration, or a Rotation Down." }, "scores": { "balance": 50.65, "rotation_up": 19.25, "upward_expansion": 52.58, "deceleration": 93.39, "rotation_down": 32.92, "downward_expansion": 20.91 }, "activity_lines": [ 84.101332, 86.565271, 84.265475, 81.521569 ], "activity_state": "Moderate", "activity_direction": "Contracting", "rotation_direction": "Weakening", "price_acceptance": -0.166667 }, "latest_close": 80.699997, "trend_reference": 79.246999, "distance_from_trend": 0.018335, "trend_direction": "Improving", "fair_value": 95.967585, "distance_from_fair_value": -0.159091, "fair_value_direction": "Improving", "relative_strength": -3.343011, "relative_strength_direction": "Improving", "price_momentum": 0.007616, "excess_performance": 0.051326, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.018335, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.023845, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": false, "value": -0.159091, "read": "Below anchor" }, { "label": "Fair Value direction", "positive": true, "value": 0.072139, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.03343, "read": "Lagging" }, { "label": "Relative strength direction", "positive": true, "value": 0.10837, "read": "Improving" }, { "label": "Price momentum", "positive": true, "value": 0.007616, "read": "Positive" }, { "label": "Volume balance", "positive": true, "value": 4.946133, "read": "Demand-led" } ], "volume": { "latest": 1804923, "relative_activity": 0.335765, "balance": 4.946133, "dry_up": 0.468726, "accumulation_observations": 3, "distribution_observations": 0 }, "risk": { "range_context": 0.095224, "annualized_volatility": 0.399476, "from_high_reference": -0.258813, "from_low_reference": 0.377133 }, "levels": { "trend_reference": 79.246999, "fair_value_reference": 95.967585, "structural_low": 58.599998, "invalidation": "A renewed decline below the structural range low, widening the discount to current Fair Value while Trend falls, weakens the base diagnosis." }, "outcomes": [ { "horizon": "Near term", "sample_count": 18, "median_return": -0.004733, "positive_rate": 0.388889, "directional_follow_through": 0.388889, "median_excess_return": -0.023887, "regime_survival": 0.722222, "best_return": 0.429966, "worst_return": -0.123733, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 8, "median_return": -0.017694, "positive_rate": 0.375, "directional_follow_through": 0.375, "median_excess_return": -0.028021, "regime_survival": 0.5, "best_return": 0.518785, "worst_return": -0.32693, "sufficient": true }, { "horizon": "Extended", "sample_count": 5, "median_return": 0.02139, "positive_rate": 0.6, "directional_follow_through": 0.6, "median_excess_return": -0.056652, "regime_survival": 0.2, "best_return": 0.694644, "worst_return": -0.333448, "sufficient": true }, { "horizon": "Full cycle", "sample_count": 3, "median_return": -0.057838, "positive_rate": 0.333333, "directional_follow_through": 0.333333, "median_excess_return": -0.11229, "regime_survival": 0.0, "best_return": 0.310843, "worst_return": -0.28457, "sufficient": false } ], "ledger": [ { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2024-08-09", "end": "2024-12-06", "tenure": "Established", "return": -0.011936, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2024-12-13", "end": "2024-12-27", "tenure": "New", "return": -0.065994, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-01-03", "end": "2025-05-02", "tenure": "Established", "return": -0.116617, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-05-09", "end": "2025-06-06", "tenure": "Developing", "return": 0.148642, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2025-06-13", "end": "2025-06-20", "tenure": "New", "return": -0.009592, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-06-27", "end": "2025-07-25", "tenure": "Developing", "return": 0.100517, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-08-01", "end": "2025-10-03", "tenure": "Developing", "return": -0.031314, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-10-10", "end": "2025-10-24", "tenure": "New", "return": -0.080114, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2025-10-31", "end": "2025-11-07", "tenure": "New", "return": -0.042939, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-11-14", "end": "2026-05-22", "tenure": "Extended", "return": -0.090336, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-05-29", "end": "2026-06-05", "tenure": "New", "return": 0.198756, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2026-06-12", "end": "2026-06-26", "tenure": "New", "return": 0.014026, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-07-03", "end": "2026-07-24", "tenure": "New", "return": -0.056493, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2026-07-31", "end": "2026-08-07", "tenure": "New", "return": -0.04497, "active": true } ], "chart_path": [ { "date": "2023-08-18", "close": 60.968525, "volume": 1397790, "typical_volume": 1357161.1, "trend": 60.335278, "fair_value": 55.260805, "relative_strength": -5.993312, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 32.865714, "energy": 18.678348, "activity_lines": [ 63.125169, 63.644322, 62.38299, 61.310354 ] }, { "date": "2023-08-25", "close": 61.410328, "volume": 876118, "typical_volume": 1371256.1, "trend": 60.361459, "fair_value": 55.44213, "relative_strength": -4.850685, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 28.159858, "energy": 21.357213, "activity_lines": [ 62.163025, 63.295344, 62.412444, 61.379712 ] }, { "date": "2023-09-01", "close": 62.539375, "volume": 985287, "typical_volume": 1400412.7, "trend": 60.413821, "fair_value": 55.638534, "relative_strength": -3.763542, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 25.845788, "energy": 20.237468, "activity_lines": [ 62.104119, 63.146292, 62.535634, 61.520223 ] }, { "date": "2023-09-08", "close": 64.6502, "volume": 1995941, "typical_volume": 1459981.15, "trend": 60.567633, "fair_value": 55.854783, "relative_strength": -2.309977, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 39.264867, "energy": 21.028409, "activity_lines": [ 62.882997, 63.348896, 62.837882, 61.793538 ] }, { "date": "2023-09-15", "close": 65.926514, "volume": 4298691, "typical_volume": 1634914.55, "trend": 60.765625, "fair_value": 56.072414, "relative_strength": -2.085957, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 58.275959, "energy": 30.521888, "activity_lines": [ 63.976045, 63.703229, 63.227788, 62.139272 ] }, { "date": "2023-09-22", "close": 80.113235, "volume": 40494373, "typical_volume": 3579358.8, "trend": 61.47087, "fair_value": 56.391428, "relative_strength": 21.734945, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 87.946199, "energy": 81.187309, "activity_lines": [ 69.647461, 66.632504, 64.934683, 63.387505 ] }, { "date": "2023-09-29", "close": 78.198761, "volume": 27260535, "typical_volume": 4906584.05, "trend": 62.102482, "fair_value": 56.700356, "relative_strength": 18.749975, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 84.072162, "energy": 87.233782, "activity_lines": [ 73.404404, 68.920943, 66.356394, 64.466724 ] }, { "date": "2023-10-06", "close": 88.360184, "volume": 34709812, "typical_volume": 6604728.75, "trend": 63.095716, "fair_value": 57.075392, "relative_strength": 33.323067, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 93.268594, "energy": 96.604439, "activity_lines": [ 79.42926, 72.895366, 68.648382, 66.160769 ] }, { "date": "2023-10-13", "close": 84.973045, "volume": 24460387, "typical_volume": 7808251.55, "trend": 64.021861, "fair_value": 57.434059, "relative_strength": 26.978922, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 78.739719, "energy": 91.963795, "activity_lines": [ 82.603682, 75.82107, 70.472623, 67.57221 ] }, { "date": "2023-10-20", "close": 96.607132, "volume": 65623608, "typical_volume": 11018129.1, "trend": 65.365263, "fair_value": 57.861475, "relative_strength": 44.667664, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 91.951913, "energy": 96.2765, "activity_lines": [ 88.301277, 80.462211, 73.276071, 69.674485 ] }, { "date": "2023-10-27", "close": 84.089447, "volume": 32719149, "typical_volume": 12605975.3, "trend": 66.296318, "fair_value": 58.215206, "relative_strength": 28.436421, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 67.307342, "energy": 79.217745, "activity_lines": [ 87.780935, 82.228523, 74.722327, 70.882497 ] }, { "date": "2023-11-03", "close": 83.107658, "volume": 8345357, "typical_volume": 12990883.1, "trend": 67.116104, "fair_value": 58.533987, "relative_strength": 25.012218, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 64.494723, "energy": 59.500271, "activity_lines": [ 86.66825, 83.395948, 75.969888, 71.9671 ] }, { "date": "2023-11-10", "close": 96.067154, "volume": 32135858, "typical_volume": 14571175.85, "trend": 68.387509, "fair_value": 58.934626, "relative_strength": 41.764912, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 79.48616, "energy": 62.650672, "activity_lines": [ 89.548137, 86.525148, 78.346964, 73.834909 ] }, { "date": "2023-11-17", "close": 96.999847, "volume": 14466525, "typical_volume": 15278369.9, "trend": 69.703094, "fair_value": 59.351033, "relative_strength": 39.672471, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 74.378272, "energy": 58.702494, "activity_lines": [ 92.225123, 89.214332, 80.644797, 75.680867 ] }, { "date": "2023-11-24", "close": 93.269081, "volume": 6749350, "typical_volume": 15428475.0, "trend": 70.853413, "fair_value": 59.729468, "relative_strength": 32.872748, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 63.479718, "energy": 53.535534, "activity_lines": [ 92.856735, 90.63702, 82.412234, 77.201253 ] }, { "date": "2023-12-01", "close": 92.238213, "volume": 3018046, "typical_volume": 15514241.45, "trend": 71.977551, "fair_value": 60.101035, "relative_strength": 27.502397, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 61.043282, "energy": 52.209933, "activity_lines": [ 93.36726, 91.37514, 83.950122, 78.580917 ] }, { "date": "2023-12-08", "close": 92.925461, "volume": 5646433, "typical_volume": 15551629.15, "trend": 73.150778, "fair_value": 60.468417, "relative_strength": 23.446024, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 59.108066, "energy": 47.291215, "activity_lines": [ 93.563617, 92.01776, 85.419052, 79.932395 ] }, { "date": "2023-12-15", "close": 98.374336, "volume": 14850336, "typical_volume": 16103006.4, "trend": 74.500725, "fair_value": 60.879057, "relative_strength": 27.028842, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 66.672843, "energy": 46.998527, "activity_lines": [ 94.921745, 93.383326, 87.294485, 81.559722 ] }, { "date": "2023-12-22", "close": 91.550972, "volume": 7270886, "typical_volume": 16410423.9, "trend": 75.62159, "fair_value": 61.232422, "relative_strength": 18.217058, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 55.714794, "energy": 39.441222, "activity_lines": [ 93.851606, 93.326205, 88.359015, 82.659738 ] }, { "date": "2023-12-29", "close": 95.330818, "volume": 4127219, "typical_volume": 16571585.05, "trend": 76.734274, "fair_value": 61.614181, "relative_strength": 20.34766, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 57.345621, "energy": 39.357059, "activity_lines": [ 94.404675, 93.83673, 89.647484, 83.931301 ] }, { "date": "2024-01-05", "close": 96.410774, "volume": 7448581, "typical_volume": 16874124.6, "trend": 77.88132, "fair_value": 61.994794, "relative_strength": 21.199762, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 58.76199, "energy": 41.025169, "activity_lines": [ 95.180279, 94.566816, 90.888032, 85.200752 ] }, { "date": "2024-01-12", "close": 109.173912, "volume": 44736282, "typical_volume": 19067132.8, "trend": 79.483257, "fair_value": 62.460084, "relative_strength": 35.034824, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 76.965047, "energy": 50.915811, "activity_lines": [ 99.932093, 97.393449, 93.175345, 87.219629 ] }, { "date": "2024-01-19", "close": 107.406715, "volume": 7817366, "typical_volume": 19408736.75, "trend": 81.037742, "fair_value": 62.920295, "relative_strength": 33.498371, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 73.331834, "energy": 68.707119, "activity_lines": [ 103.01161, 99.424841, 95.066908, 89.021143 ] }, { "date": "2024-01-26", "close": 110.499321, "volume": 5169306, "typical_volume": 19567405.0, "trend": 82.713313, "fair_value": 63.401631, "relative_strength": 37.844272, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 75.558266, "energy": 80.778952, "activity_lines": [ 106.519838, 101.812352, 97.039351, 90.92189 ] }, { "date": "2024-02-02", "close": 119.58078, "volume": 27035095, "typical_volume": 20704225.2, "trend": 84.50997, "fair_value": 63.874281, "relative_strength": 44.232146, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 84.276678, "energy": 86.700791, "activity_lines": [ 111.791995, 105.605592, 99.658365, 93.300436 ] }, { "date": "2024-02-09", "close": 109.615715, "volume": 6522736, "typical_volume": 19005643.35, "trend": 86.030093, "fair_value": 64.292385, "relative_strength": 31.532016, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 65.410189, "energy": 76.231304, "activity_lines": [ 112.1258, 107.108607, 101.072829, 94.920162 ] }, { "date": "2024-02-16", "close": 106.032219, "volume": 5883320, "typical_volume": 17936782.6, "trend": 87.254045, "fair_value": 64.680227, "relative_strength": 24.820665, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 61.992602, "energy": 52.262908, "activity_lines": [ 110.384777, 107.644123, 102.00552, 96.210621 ] }, { "date": "2024-02-23", "close": 104.068657, "volume": 2463240, "typical_volume": 16324454.0, "trend": 88.571266, "fair_value": 65.047073, "relative_strength": 20.77137, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 57.2569, "energy": 43.056797, "activity_lines": [ 108.198679, 107.584324, 102.618664, 97.295435 ] }, { "date": "2024-03-01", "close": 108.093956, "volume": 10029804, "typical_volume": 15602924.85, "trend": 90.075025, "fair_value": 65.441684, "relative_strength": 23.831717, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 41.728318, "energy": 27.844533, "activity_lines": [ 107.576885, 108.152863, 103.540369, 98.554963 ] }, { "date": "2024-03-08", "close": 112.462883, "volume": 15563734, "typical_volume": 13099931.15, "trend": 91.701507, "fair_value": 65.870749, "relative_strength": 26.927773, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 47.275861, "energy": 28.262597, "activity_lines": [ 108.571758, 109.214972, 104.768061, 99.999341 ] }, { "date": "2024-03-15", "close": 103.381424, "volume": 5664911, "typical_volume": 11747219.25, "trend": 93.115271, "fair_value": 66.260383, "relative_strength": 18.38919, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 36.460124, "energy": 21.439101, "activity_lines": [ 107.014004, 108.314414, 105.05535, 100.752884 ] }, { "date": "2024-03-22", "close": 106.768555, "volume": 4918248, "typical_volume": 11575863.8, "trend": 94.627211, "fair_value": 66.678459, "relative_strength": 20.976443, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 35.950088, "energy": 21.449594, "activity_lines": [ 107.000913, 107.902958, 105.573356, 101.633741 ] }, { "date": "2024-03-29", "close": 107.603065, "volume": 2885194, "typical_volume": 10113330.6, "trend": 96.129334, "fair_value": 67.081137, "relative_strength": 19.751609, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 34.746878, "energy": 19.630566, "activity_lines": [ 107.216903, 107.686966, 106.058167, 102.470893 ] }, { "date": "2024-04-05", "close": 113.788277, "volume": 6704517, "typical_volume": 9725230.2, "trend": 97.76727, "fair_value": 67.509167, "relative_strength": 24.555167, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 54.381487, "energy": 26.87375, "activity_lines": [ 109.259003, 108.591988, 107.077114, 103.61018 ] }, { "date": "2024-04-12", "close": 109.566628, "volume": 2162704, "typical_volume": 9495897.9, "trend": 99.221941, "fair_value": 67.926955, "relative_strength": 18.992194, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 47.971832, "energy": 27.067693, "activity_lines": [ 109.514265, 108.669638, 107.614054, 104.371429 ] }, { "date": "2024-04-19", "close": 104.755905, "volume": 2284628, "typical_volume": 9459227.0, "trend": 100.043363, "fair_value": 68.317831, "relative_strength": 14.888687, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 44.25583, "energy": 23.106412, "activity_lines": [ 108.359037, 108.054686, 107.615223, 104.728459 ] }, { "date": "2024-04-26", "close": 107.259445, "volume": 2587751, "typical_volume": 9306292.9, "trend": 101.012053, "fair_value": 68.713541, "relative_strength": 15.37693, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 34.021996, "energy": 18.122649, "activity_lines": [ 107.94669, 107.983284, 107.795216, 105.194012 ] }, { "date": "2024-05-03", "close": 108.584846, "volume": 5399448, "typical_volume": 8833748.5, "trend": 101.686208, "fair_value": 69.114102, "relative_strength": 15.657751, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 34.703162, "energy": 15.276931, "activity_lines": [ 107.943417, 108.130551, 108.033181, 105.68258 ] }, { "date": "2024-05-10", "close": 99.94519, "volume": 3325198, "typical_volume": 8636464.1, "trend": 102.18528, "fair_value": 69.439936, "relative_strength": 7.801038, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 5.271101, "energy": 8.410914, "activity_lines": [ 104.994807, 106.624859, 107.399699, 105.570256 ] }, { "date": "2024-05-17", "close": 102.203278, "volume": 2110918, "typical_volume": 8535649.05, "trend": 102.371818, "fair_value": 69.759779, "relative_strength": 7.546458, "stage": 2, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "up", "direction": 8.352623, "energy": 12.045122, "activity_lines": [ 103.721766, 105.677887, 106.941302, 105.571417 ] }, { "date": "2024-05-24", "close": 102.448723, "volume": 1797437, "typical_volume": 8253091.85, "trend": 102.983794, "fair_value": 70.083719, "relative_strength": 4.864292, "stage": 2, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "up", "direction": 6.339262, "energy": 17.898197, "activity_lines": [ 103.021429, 104.96208, 106.473554, 105.576379 ] }, { "date": "2024-05-31", "close": 99.601563, "volume": 1743447, "typical_volume": 6103450.1, "trend": 103.53359, "fair_value": 70.227362, "relative_strength": 3.375758, "stage": 2, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -20.663743, "energy": 32.566552, "activity_lines": [ 101.525851, 103.745566, 105.705895, 105.35817 ] }, { "date": "2024-06-07", "close": 104.854088, "volume": 9449132, "typical_volume": 6185038.4, "trend": 103.826488, "fair_value": 70.44757, "relative_strength": 4.731275, "stage": 2, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -12.2986, "energy": 19.497738, "activity_lines": [ 102.29164, 103.614365, 105.48406, 105.443364 ] }, { "date": "2024-06-14", "close": 107.377258, "volume": 7828953, "typical_volume": 6318020.75, "trend": 104.172402, "fair_value": 70.664887, "relative_strength": 5.820155, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -3.437482, "energy": 5.487952, "activity_lines": [ 104.147204, 103.991904, 105.514682, 105.672446 ] }, { "date": "2024-06-21", "close": 114.632614, "volume": 8949370, "typical_volume": 5413734.5, "trend": 104.88452, "fair_value": 70.987868, "relative_strength": 11.991866, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 38.21315, "energy": 21.454145, "activity_lines": [ 107.925748, 105.805162, 106.251158, 106.347298 ] }, { "date": "2024-06-28", "close": 142.426819, "volume": 58128809, "typical_volume": 7994038.15, "trend": 106.557473, "fair_value": 71.465748, "relative_strength": 34.534096, "stage": 2, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "up", "direction": 85.359171, "energy": 77.17948, "activity_lines": [ 120.140404, 112.579804, 109.658263, 108.769382 ] }, { "date": "2024-07-05", "close": 129.261139, "volume": 7036280, "typical_volume": 8051686.15, "trend": 107.768662, "fair_value": 71.884464, "relative_strength": 19.526425, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 71.4302, "energy": 79.55211, "activity_lines": [ 125.301294, 116.27576, 111.65525, 110.234134 ] }, { "date": "2024-07-12", "close": 127.444832, "volume": 3697803, "typical_volume": 8113414.3, "trend": 108.737679, "fair_value": 72.280043, "relative_strength": 16.021034, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 64.391445, "energy": 78.477067, "activity_lines": [ 127.879444, 119.241447, 113.368642, 111.503565 ] }, { "date": "2024-07-19", "close": 121.671974, "volume": 3486503, "typical_volume": 7786249.25, "trend": 109.741712, "fair_value": 72.64955, "relative_strength": 9.952163, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 63.359591, "energy": 74.705853, "activity_lines": [ 127.027258, 120.814615, 114.420923, 112.338035 ] }, { "date": "2024-07-26", "close": 124.803856, "volume": 5567863, "typical_volume": 7286455.7, "trend": 110.724147, "fair_value": 73.045021, "relative_strength": 10.581968, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 57.916731, "energy": 44.157187, "activity_lines": [ 126.266051, 122.562183, 115.706822, 113.309787 ] }, { "date": "2024-08-02", "close": 124.352234, "volume": 3154529, "typical_volume": 7160936.6, "trend": 111.655529, "fair_value": 73.436195, "relative_strength": 9.865353, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 53.432276, "energy": 35.81908, "activity_lines": [ 124.676221, 123.816719, 116.890942, 114.189018 ] }, { "date": "2024-08-09", "close": 120.984734, "volume": 3608230, "typical_volume": 7095435.7, "trend": 112.049223, "fair_value": 73.825968, "relative_strength": 7.663161, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 39.866974, "energy": 25.506958, "activity_lines": [ 123.168864, 124.060737, 117.654486, 114.790902 ] }, { "date": "2024-08-16", "close": 116.959427, "volume": 1378838, "typical_volume": 7020117.9, "trend": 112.367647, "fair_value": 74.206759, "relative_strength": 2.656032, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 35.176884, "energy": 19.814079, "activity_lines": [ 120.871497, 123.184095, 117.966972, 115.10769 ] }, { "date": "2024-08-23", "close": 122.310127, "volume": 2833633, "typical_volume": 6826573.7, "trend": 112.76134, "fair_value": 74.61428, "relative_strength": 5.373443, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 33.717405, "energy": 17.470894, "activity_lines": [ 121.056725, 123.060211, 118.744495, 115.74914 ] }, { "date": "2024-08-30", "close": 126.924492, "volume": 4962700, "typical_volume": 6966573.5, "trend": 113.006131, "fair_value": 75.036216, "relative_strength": 6.764876, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 42.006932, "energy": 21.354786, "activity_lines": [ 122.73753, 123.503796, 119.9209, 116.662892 ] }, { "date": "2024-09-06", "close": 120.709824, "volume": 2714032, "typical_volume": 6988043.7, "trend": 113.375934, "fair_value": 75.429153, "relative_strength": 2.43807, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 34.334989, "energy": 17.713821, "activity_lines": [ 122.205404, 122.593953, 120.422776, 117.159904 ] }, { "date": "2024-09-13", "close": 122.678688, "volume": 1777734, "typical_volume": 6947542.85, "trend": 113.930817, "fair_value": 75.818892, "relative_strength": 1.391194, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 45.521393, "energy": 23.783398, "activity_lines": [ 122.572393, 122.436939, 121.036192, 117.760082 ] }, { "date": "2024-09-20", "close": 122.510406, "volume": 8098817, "typical_volume": 7082511.3, "trend": 114.545542, "fair_value": 76.223958, "relative_strength": -0.724802, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 44.384546, "energy": 22.720171, "activity_lines": [ 122.770358, 122.369009, 121.560156, 118.313604 ] }, { "date": "2024-09-27", "close": 121.589798, "volume": 2021786, "typical_volume": 7017340.7, "trend": 114.995403, "fair_value": 76.613162, "relative_strength": -3.188936, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 42.907, "energy": 19.914641, "activity_lines": [ 122.291388, 122.223413, 121.93013, 118.768072 ] }, { "date": "2024-10-04", "close": 118.333015, "volume": 1459795, "typical_volume": 6984784.55, "trend": 115.191074, "fair_value": 76.981196, "relative_strength": -1.489135, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 19.285134, "energy": 9.997738, "activity_lines": [ 120.774846, 121.487169, 121.886866, 118.983402 ] }, { "date": "2024-10-11", "close": 117.580688, "volume": 1527676, "typical_volume": 6971296.5, "trend": 115.664383, "fair_value": 77.333861, "relative_strength": -2.07792, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 11.141462, "energy": 8.442163, "activity_lines": [ 119.580293, 120.73179, 121.695143, 119.13757 ] }, { "date": "2024-10-18", "close": 116.72937, "volume": 1570192, "typical_volume": 6962633.75, "trend": 115.99641, "fair_value": 77.689564, "relative_strength": -2.259428, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 6.244277, "energy": 10.394271, "activity_lines": [ 118.310577, 119.944744, 121.350285, 119.206279 ] }, { "date": "2024-10-25", "close": 114.007141, "volume": 8188188, "typical_volume": 6899586.55, "trend": 116.209879, "fair_value": 78.040708, "relative_strength": -1.998622, "stage": 3, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "up", "direction": -2.486867, "energy": 18.095586, "activity_lines": [ 116.530072, 118.740118, 120.664606, 119.077939 ] }, { "date": "2024-11-01", "close": 117.481697, "volume": 1882204, "typical_volume": 6602249.1, "trend": 116.332993, "fair_value": 78.393031, "relative_strength": 0.2695, "stage": 3, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "up", "direction": 4.3865, "energy": 18.261926, "activity_lines": [ 116.474637, 118.220908, 120.266251, 119.159992 ] }, { "date": "2024-11-08", "close": 116.610588, "volume": 2378883, "typical_volume": 6273724.75, "trend": 116.567792, "fair_value": 78.738891, "relative_strength": 0.216158, "stage": 3, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -13.52873, "energy": 19.730131, "activity_lines": [ 116.402705, 117.631103, 119.736817, 119.177901 ] }, { "date": "2024-11-15", "close": 113.165718, "volume": 6876425, "typical_volume": 3711105.55, "trend": 116.848119, "fair_value": 79.076438, "relative_strength": -0.15801, "stage": 3, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -28.799066, "energy": 23.097741, "activity_lines": [ 115.297312, 116.602485, 118.869882, 118.958413 ] }, { "date": "2024-11-22", "close": 111.81945, "volume": 1851391, "typical_volume": 3451861.1, "trend": 117.000119, "fair_value": 79.410336, "relative_strength": -2.877954, "stage": 3, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -30.383884, "energy": 24.510592, "activity_lines": [ 114.037495, 115.466255, 118.014069, 118.633982 ] }, { "date": "2024-11-29", "close": 115.660271, "volume": 1944934, "typical_volume": 3364217.65, "trend": 117.235967, "fair_value": 79.769439, "relative_strength": -0.569958, "stage": 3, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -22.743573, "energy": 21.419793, "activity_lines": [ 114.385279, 115.225798, 117.607104, 118.54754 ] }, { "date": "2024-12-06", "close": 119.540703, "volume": 2819065, "typical_volume": 3330845.75, "trend": 117.88915, "fair_value": 80.128224, "relative_strength": 0.324186, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -5.704639, "energy": 9.309199, "activity_lines": [ 115.916332, 115.815421, 117.625821, 118.696233 ] }, { "date": "2024-12-13", "close": 117.74897, "volume": 2045639, "typical_volume": 3154734.55, "trend": 118.40734, "fair_value": 80.496908, "relative_strength": -1.606914, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -5.055129, "energy": 5.017406, "activity_lines": [ 116.712873, 116.116531, 117.484045, 118.687189 ] }, { "date": "2024-12-20", "close": 111.255211, "volume": 3049990, "typical_volume": 3149507.6, "trend": 118.70089, "fair_value": 80.814005, "relative_strength": -2.545453, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -45.486184, "energy": 19.612918, "activity_lines": [ 115.268936, 115.247577, 116.757411, 118.225762 ] }, { "date": "2024-12-27", "close": 109.978233, "volume": 824871, "typical_volume": 3010339.65, "trend": 119.046779, "fair_value": 81.126725, "relative_strength": -4.665611, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -56.255895, "energy": 28.371644, "activity_lines": [ 113.526706, 114.261454, 115.971527, 117.663009 ] }, { "date": "2025-01-03", "close": 112.472794, "volume": 1571275, "typical_volume": 3019961.5, "trend": 119.300736, "fair_value": 81.439031, "relative_strength": -3.374268, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -49.281307, "energy": 37.709162, "activity_lines": [ 112.738745, 113.851635, 115.475632, 117.238881 ] }, { "date": "2025-01-10", "close": 99.386269, "volume": 1476001, "typical_volume": 2952079.9, "trend": 119.034369, "fair_value": 81.644304, "relative_strength": -12.268919, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -76.022785, "energy": 67.488879, "activity_lines": [ 107.801107, 111.090345, 113.754766, 115.954077 ] }, { "date": "2025-01-17", "close": 102.93013, "volume": 2239710, "typical_volume": 2815930.4, "trend": 118.644287, "fair_value": 81.884892, "relative_strength": -8.052337, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -67.182078, "energy": 67.454464, "activity_lines": [ 105.388386, 109.302401, 112.480573, 114.915094 ] }, { "date": "2025-01-24", "close": 98.624039, "volume": 1328047, "typical_volume": 2746631.15, "trend": 117.184194, "fair_value": 82.14182, "relative_strength": -11.155313, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -75.682643, "energy": 76.456862, "activity_lines": [ 102.528223, 106.980267, 110.910534, 113.623465 ] }, { "date": "2025-01-31", "close": 97.475761, "volume": 2681425, "typical_volume": 2791815.7, "trend": 116.124681, "fair_value": 82.369123, "relative_strength": -13.28456, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -73.427986, "energy": 78.395779, "activity_lines": [ 100.127379, 104.71375, 109.336305, 112.351953 ] }, { "date": "2025-02-07", "close": 102.118408, "volume": 2894161, "typical_volume": 2531582.9, "trend": 115.280467, "fair_value": 82.637904, "relative_strength": -9.098046, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -62.884399, "energy": 65.020571, "activity_lines": [ 100.107582, 103.552144, 108.324248, 111.448323 ] }, { "date": "2025-02-14", "close": 89.041779, "volume": 2513019, "typical_volume": 2556144.55, "trend": 114.192794, "fair_value": 82.830478, "relative_strength": -18.252405, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -81.659793, "energy": 75.417481, "activity_lines": [ 96.419201, 100.259186, 106.163902, 109.755504 ] }, { "date": "2025-02-21", "close": 85.032677, "volume": 2195062, "typical_volume": 2592907.9, "trend": 112.867088, "fair_value": 83.01991, "relative_strength": -21.171685, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -81.642542, "energy": 76.814645, "activity_lines": [ 92.084086, 96.791825, 103.776727, 107.874206 ] }, { "date": "2025-02-28", "close": 78.687393, "volume": 1417457, "typical_volume": 2587396.95, "trend": 111.344927, "fair_value": 83.165152, "relative_strength": -24.447286, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -84.453454, "energy": 85.365263, "activity_lines": [ 86.827039, 92.765619, 100.943812, 105.669065 ] }, { "date": "2025-03-07", "close": 80.45932, "volume": 2132900, "typical_volume": 2615532.35, "trend": 109.99408, "fair_value": 83.306519, "relative_strength": -23.765366, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -74.547538, "energy": 86.153313, "activity_lines": [ 83.489745, 89.653722, 98.464859, 103.676445 ] }, { "date": "2025-03-14", "close": 74.480309, "volume": 2091967, "typical_volume": 2310721.3, "trend": 108.578109, "fair_value": 83.416003, "relative_strength": -28.539175, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -78.993976, "energy": 89.625019, "activity_lines": [ 79.293876, 85.991441, 95.589191, 101.385234 ] }, { "date": "2025-03-21", "close": 80.32074, "volume": 2090803, "typical_volume": 2321151.25, "trend": 107.178463, "fair_value": 83.568786, "relative_strength": -25.653719, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -67.03064, "energy": 81.91647, "activity_lines": [ 78.887357, 84.081829, 93.457977, 99.562178 ] }, { "date": "2025-03-28", "close": 79.677299, "volume": 2750848, "typical_volume": 2339749.5, "trend": 105.603556, "fair_value": 83.715686, "relative_strength": -26.34075, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -64.585062, "energy": 61.612703, "activity_lines": [ 78.847761, 82.401873, 91.44244, 97.787909 ] }, { "date": "2025-04-04", "close": 89.210068, "volume": 3637857, "typical_volume": 2177821.1, "trend": 104.553564, "fair_value": 83.912268, "relative_strength": -14.901415, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -59.777428, "energy": 48.896413, "activity_lines": [ 82.34278, 82.877927, 90.510658, 96.730265 ] }, { "date": "2025-04-11", "close": 89.358551, "volume": 2176241, "typical_volume": 2194063.6, "trend": 103.442893, "fair_value": 84.112145, "relative_strength": -14.133232, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -44.163464, "energy": 33.248591, "activity_lines": [ 85.185781, 83.55214, 89.707092, 95.749941 ] }, { "date": "2025-04-18", "close": 93.258766, "volume": 1157131, "typical_volume": 2154673.45, "trend": 102.467839, "fair_value": 84.34054, "relative_strength": -13.931618, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -36.424219, "energy": 24.489318, "activity_lines": [ 88.735572, 85.08307, 89.381932, 95.092901 ] }, { "date": "2025-04-25", "close": 94.159584, "volume": 3295236, "typical_volume": 2178482.0, "trend": 101.553498, "fair_value": 84.576467, "relative_strength": -13.461076, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -27.812062, "energy": 26.16522, "activity_lines": [ 91.333738, 86.938869, 89.249238, 94.556884 ] }, { "date": "2025-05-02", "close": 99.356575, "volume": 3303009, "typical_volume": 2241350.5, "trend": 100.92095, "fair_value": 84.828716, "relative_strength": -9.549112, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -8.091533, "energy": 19.821972, "activity_lines": [ 94.741645, 89.646524, 89.732358, 94.415147 ] }, { "date": "2025-05-09", "close": 87.507439, "volume": 4099293, "typical_volume": 2293815.65, "trend": 99.918508, "fair_value": 85.00706, "relative_strength": -18.905809, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -17.958267, "energy": 18.862624, "activity_lines": [ 92.887889, 89.939356, 89.174572, 93.54976 ] }, { "date": "2025-05-16", "close": 96.901611, "volume": 2217056, "typical_volume": 2363424.9, "trend": 99.257583, "fair_value": 85.234198, "relative_strength": -13.581593, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -2.705247, "energy": 14.00489, "activity_lines": [ 94.279031, 91.779856, 89.624553, 93.355121 ] }, { "date": "2025-05-23", "close": 97.069893, "volume": 1751600, "typical_volume": 2372441.15, "trend": 98.693008, "fair_value": 85.472961, "relative_strength": -12.642294, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -1.23016, "energy": 13.716668, "activity_lines": [ 95.223397, 93.352001, 90.152831, 93.21398 ] }, { "date": "2025-05-30", "close": 96.961006, "volume": 1513386, "typical_volume": 2374310.4, "trend": 98.008985, "fair_value": 85.713955, "relative_strength": -12.189033, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -2.011062, "energy": 13.474634, "activity_lines": [ 95.877393, 94.493629, 90.744086, 93.102238 ] }, { "date": "2025-06-06", "close": 100.514763, "volume": 4215115, "typical_volume": 2473080.65, "trend": 97.472458, "fair_value": 85.973336, "relative_strength": -9.701778, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 27.361117, "energy": 36.835238, "activity_lines": [ 97.529212, 95.978844, 91.685343, 93.263901 ] }, { "date": "2025-06-13", "close": 93.912109, "volume": 2916424, "typical_volume": 2552499.5, "trend": 96.830671, "fair_value": 86.214414, "relative_strength": -14.375199, "stage": 4, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 15.243967, "energy": 21.562777, "activity_lines": [ 96.902934, 95.884714, 92.009277, 93.034201 ] }, { "date": "2025-06-20", "close": 93.011292, "volume": 3296645, "typical_volume": 2583260.5, "trend": 96.203732, "fair_value": 86.452355, "relative_strength": -16.099482, "stage": 4, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "down", "direction": -4.724361, "energy": 8.925872, "activity_lines": [ 95.549406, 95.541307, 92.269857, 92.787789 ] }, { "date": "2025-06-27", "close": 97.594543, "volume": 3265197, "typical_volume": 2601812.3, "trend": 95.601541, "fair_value": 86.714402, "relative_strength": -12.963527, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 26.32032, "energy": 15.533412, "activity_lines": [ 95.982983, 95.964805, 92.988196, 92.877519 ] }, { "date": "2025-07-04", "close": 96.495758, "volume": 2722383, "typical_volume": 2612280.5, "trend": 94.833376, "fair_value": 86.966183, "relative_strength": -12.761193, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 12.606571, "energy": 8.180482, "activity_lines": [ 96.015321, 96.109691, 93.623432, 92.93521 ] }, { "date": "2025-07-11", "close": 93.882408, "volume": 3132705, "typical_volume": 2659162.65, "trend": 94.037824, "fair_value": 87.204141, "relative_strength": -13.511565, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 8.564003, "energy": 6.273236, "activity_lines": [ 95.20756, 95.736948, 93.974282, 92.873858 ] }, { "date": "2025-07-18", "close": 97.82222, "volume": 3089559, "typical_volume": 2742767.75, "trend": 93.590058, "fair_value": 87.444504, "relative_strength": -8.803699, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 15.586522, "energy": 12.510806, "activity_lines": [ 96.155226, 96.180064, 94.65821, 93.118012 ] }, { "date": "2025-07-25", "close": 107.404488, "volume": 35730984, "typical_volume": 4422671.95, "trend": 93.504266, "fair_value": 87.753616, "relative_strength": 0.976104, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 70.080019, "energy": 50.586584, "activity_lines": [ 100.036307, 98.177869, 96.163617, 94.009266 ] }, { "date": "2025-08-01", "close": 103.098412, "volume": 9162579, "typical_volume": 4776202.55, "trend": 93.191787, "fair_value": 88.017547, "relative_strength": -1.632, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 59.858965, "energy": 51.21371, "activity_lines": [ 101.522483, 99.201789, 97.130612, 94.628243 ] }, { "date": "2025-08-08", "close": 100.019806, "volume": 5252996, "typical_volume": 4934312.2, "trend": 93.212905, "fair_value": 88.248854, "relative_strength": -3.403641, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 55.390741, "energy": 52.874978, "activity_lines": [ 101.615533, 99.556354, 97.668129, 95.06876 ] }, { "date": "2025-08-15", "close": 103.266693, "volume": 3324781, "typical_volume": 4963008.85, "trend": 93.224124, "fair_value": 88.486619, "relative_strength": -1.096429, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 58.549098, "energy": 56.764959, "activity_lines": [ 102.555941, 100.445647, 98.421068, 95.717392 ] }, { "date": "2025-08-22", "close": 103.504265, "volume": 3388582, "typical_volume": 4950545.1, "trend": 93.386798, "fair_value": 88.741033, "relative_strength": -1.478605, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 57.218225, "energy": 41.527771, "activity_lines": [ 102.949922, 101.328101, 99.084303, 96.380627 ] }, { "date": "2025-08-29", "close": 95.396965, "volume": 2435473, "typical_volume": 4963506.7, "trend": 93.317505, "fair_value": 88.953546, "relative_strength": -7.072315, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 34.779154, "energy": 19.460791, "activity_lines": [ 100.262666, 100.562096, 98.907346, 96.510315 ] }, { "date": "2025-09-05", "close": 96.693733, "volume": 2255589, "typical_volume": 5018429.6, "trend": 93.136682, "fair_value": 89.172799, "relative_strength": -6.599567, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 31.753984, "energy": 14.826329, "activity_lines": [ 98.808167, 99.988492, 98.825137, 96.728136 ] }, { "date": "2025-09-12", "close": 98.839996, "volume": 2358350, "typical_volume": 4971585.3, "trend": 93.463289, "fair_value": 89.413048, "relative_strength": -5.552659, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 28.232547, "energy": 15.236134, "activity_lines": [ 98.496069, 99.821496, 98.930977, 97.096092 ] }, { "date": "2025-09-19", "close": 103.980003, "volume": 2804435, "typical_volume": 4946656.6, "trend": 94.094867, "fair_value": 89.687818, "relative_strength": -1.18291, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 40.519394, "energy": 18.854491, "activity_lines": [ 99.97596, 100.546424, 99.504054, 97.774589 ] }, { "date": "2025-09-26", "close": 96.269997, "volume": 2007969, "typical_volume": 4842090.4, "trend": 94.680954, "fair_value": 89.915683, "relative_strength": -5.692139, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 22.097921, "energy": 10.051533, "activity_lines": [ 98.838294, 99.68594, 99.320828, 97.91492 ] }, { "date": "2025-10-03", "close": 99.870003, "volume": 2514722, "typical_volume": 4856973.7, "trend": 95.327977, "fair_value": 90.16631, "relative_strength": -2.782379, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 28.95809, "energy": 13.455015, "activity_lines": [ 99.382916, 99.508225, 99.438733, 98.249698 ] }, { "date": "2025-10-10", "close": 97.860001, "volume": 1412023, "typical_volume": 4839994.85, "trend": 96.1073, "fair_value": 90.410976, "relative_strength": -5.843976, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 16.023005, "energy": 7.962403, "activity_lines": [ 98.959334, 99.102046, 99.351074, 98.413054 ] }, { "date": "2025-10-17", "close": 90.199997, "volume": 3597885, "typical_volume": 4944219.8, "trend": 96.436608, "fair_value": 90.601818, "relative_strength": -14.169854, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -23.231391, "energy": 17.916628, "activity_lines": [ 95.904666, 97.398382, 98.530129, 98.031938 ] }, { "date": "2025-10-24", "close": 90.019997, "volume": 1576006, "typical_volume": 4812264.35, "trend": 96.781365, "fair_value": 90.795598, "relative_strength": -14.129514, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -26.292618, "energy": 40.102022, "activity_lines": [ 93.365999, 95.840534, 97.724236, 97.617963 ] }, { "date": "2025-10-31", "close": 91.989998, "volume": 2569375, "typical_volume": 4794911.9, "trend": 96.874029, "fair_value": 91.002005, "relative_strength": -11.474359, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -31.373066, "energy": 49.218662, "activity_lines": [ 92.414665, 94.881716, 97.155937, 97.308843 ] }, { "date": "2025-11-07", "close": 88.040001, "volume": 1007446, "typical_volume": 4680451.95, "trend": 96.830077, "fair_value": 91.177429, "relative_strength": -13.948468, "stage": 4, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -68.658606, "energy": 69.439808, "activity_lines": [ 90.431999, 93.414067, 96.220601, 96.738905 ] }, { "date": "2025-11-14", "close": 87.230003, "volume": 1017994, "typical_volume": 4568091.8, "trend": 96.629119, "fair_value": 91.349547, "relative_strength": -15.53109, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -70.188529, "energy": 71.091129, "activity_lines": [ 88.968, 91.932909, 95.231795, 96.119546 ] }, { "date": "2025-11-21", "close": 84.900002, "volume": 981019, "typical_volume": 4481023.6, "trend": 96.320466, "fair_value": 91.498234, "relative_strength": -17.722075, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -74.113155, "energy": 73.054787, "activity_lines": [ 87.436001, 90.200182, 94.07044, 95.362828 ] }, { "date": "2025-11-28", "close": 83.800003, "volume": 1033620, "typical_volume": 4376069.35, "trend": 95.801913, "fair_value": 91.63452, "relative_strength": -18.574976, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -74.966929, "energy": 78.508172, "activity_lines": [ 85.890669, 88.52091, 92.85954, 94.555057 ] }, { "date": "2025-12-05", "close": 84.129997, "volume": 1157381, "typical_volume": 4279460.45, "trend": 95.689332, "fair_value": 91.77481, "relative_strength": -17.544225, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -69.4587, "energy": 75.791411, "activity_lines": [ 84.870001, 87.268546, 91.72808, 93.80203 ] }, { "date": "2025-12-12", "close": 79.489998, "volume": 1727227, "typical_volume": 2579272.6, "trend": 95.108945, "fair_value": 91.865846, "relative_strength": -21.011002, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -80.503691, "energy": 82.052195, "activity_lines": [ 82.826666, 85.393273, 90.219916, 92.756911 ] }, { "date": "2025-12-19", "close": 77.959999, "volume": 874477, "typical_volume": 2164867.5, "trend": 94.471949, "fair_value": 91.983891, "relative_strength": -21.622237, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -80.14415, "energy": 85.886776, "activity_lines": [ 80.843332, 83.610363, 88.698964, 91.650528 ] }, { "date": "2025-12-26", "close": 81.389999, "volume": 1141556, "typical_volume": 1959295.5, "trend": 93.952915, "fair_value": 92.103155, "relative_strength": -17.796183, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -66.087761, "energy": 77.217094, "activity_lines": [ 80.621332, 82.812909, 87.624386, 90.806531 ] }, { "date": "2026-01-02", "close": 83.379997, "volume": 1758564, "typical_volume": 1880984.65, "trend": 93.381756, "fair_value": 92.241469, "relative_strength": -16.057106, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -63.577417, "energy": 62.058037, "activity_lines": [ 81.296665, 82.537454, 86.828044, 90.124407 ] }, { "date": "2026-01-09", "close": 78.720001, "volume": 1402191, "typical_volume": 1781665.1, "trend": 92.875352, "fair_value": 92.343932, "relative_strength": -18.26733, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -70.460465, "energy": 56.806625, "activity_lines": [ 80.446666, 81.535454, 85.682592, 89.178488 ] }, { "date": "2026-01-16", "close": 80.739998, "volume": 1497485, "typical_volume": 1734765.7, "trend": 92.466309, "fair_value": 92.457456, "relative_strength": -15.646449, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -59.158565, "energy": 48.094183, "activity_lines": [ 80.630665, 81.141999, 84.847541, 88.395562 ] }, { "date": "2026-01-23", "close": 77.099998, "volume": 12752060, "typical_volume": 2259589.25, "trend": 91.783158, "fair_value": 92.563066, "relative_strength": -16.860967, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -69.124493, "energy": 50.599698, "activity_lines": [ 79.517999, 80.219453, 83.735618, 87.404187 ] }, { "date": "2026-01-30", "close": 79.139999, "volume": 3952227, "typical_volume": 2339283.1, "trend": 91.204633, "fair_value": 92.67955, "relative_strength": -15.127832, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -58.730969, "energy": 46.85038, "activity_lines": [ 79.142665, 79.851999, 82.911285, 86.588499 ] }, { "date": "2026-02-06", "close": 80.089996, "volume": 1832258, "typical_volume": 2290674.25, "trend": 90.744885, "fair_value": 92.808102, "relative_strength": -14.814577, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -56.629375, "energy": 42.062613, "activity_lines": [ 79.233998, 79.761998, 82.271237, 85.871426 ] }, { "date": "2026-02-13", "close": 80.599998, "volume": 1074854, "typical_volume": 2244018.5, "trend": 90.170811, "fair_value": 92.940238, "relative_strength": -13.194938, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -54.572544, "energy": 37.924826, "activity_lines": [ 79.714664, 79.83218, 81.793523, 85.216917 ] }, { "date": "2026-02-20", "close": 78.870003, "volume": 1061920, "typical_volume": 2171378.4, "trend": 89.219662, "fair_value": 93.067893, "relative_strength": -15.101537, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -55.226129, "energy": 34.81288, "activity_lines": [ 79.493333, 79.651999, 81.225666, 84.487832 ] }, { "date": "2026-02-27", "close": 79.93, "volume": 2067340, "typical_volume": 2204144.25, "trend": 88.447382, "fair_value": 93.200454, "relative_strength": -12.44188, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -40.949509, "energy": 26.059322, "activity_lines": [ 79.75, 79.675817, 80.858761, 83.888499 ] }, { "date": "2026-03-06", "close": 77.129997, "volume": 1049169, "typical_volume": 2076708.45, "trend": 87.684388, "fair_value": 93.319472, "relative_strength": -12.801667, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -57.927992, "energy": 33.702526, "activity_lines": [ 78.884666, 79.154726, 80.31057, 83.158345 ] }, { "date": "2026-03-13", "close": 71.809998, "volume": 1247247, "typical_volume": 2060270.5, "trend": 86.635831, "fair_value": 93.413199, "relative_strength": -14.157651, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -72.276553, "energy": 48.05052, "activity_lines": [ 76.379999, 77.743817, 79.317951, 82.134191 ] }, { "date": "2026-03-20", "close": 68.550003, "volume": 1522498, "typical_volume": 2007926.65, "trend": 85.470689, "fair_value": 93.491692, "relative_strength": -17.717296, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -78.021542, "energy": 70.379441, "activity_lines": [ 73.340667, 75.950545, 78.101571, 80.967364 ] }, { "date": "2026-03-27", "close": 62.23, "volume": 1878884, "typical_volume": 2051498.55, "trend": 84.365124, "fair_value": 93.530616, "relative_strength": -24.070414, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -87.575877, "energy": 87.562997, "activity_lines": [ 68.998, 73.193091, 76.394904, 79.467964 ] }, { "date": "2026-04-03", "close": 64.199997, "volume": 1387962, "typical_volume": 2069996.95, "trend": 83.281999, "fair_value": 93.567064, "relative_strength": -20.846657, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -75.651412, "energy": 86.808221, "activity_lines": [ 66.421332, 71.130363, 74.998761, 78.166988 ] }, { "date": "2026-04-10", "close": 70.339996, "volume": 2347883, "typical_volume": 2138340.15, "trend": 82.331999, "fair_value": 93.646648, "relative_strength": -17.660561, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -65.671651, "energy": 77.500835, "activity_lines": [ 66.939998, 70.418544, 74.297046, 77.33202 ] }, { "date": "2026-04-17", "close": 74.900002, "volume": 2142609, "typical_volume": 2193789.6, "trend": 81.362666, "fair_value": 93.757979, "relative_strength": -13.02039, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -60.589846, "energy": 48.268987, "activity_lines": [ 69.431333, 70.695817, 74.098951, 76.852537 ] }, { "date": "2026-04-24", "close": 71.07, "volume": 4043570, "typical_volume": 2338099.05, "trend": 80.522666, "fair_value": 93.836892, "relative_strength": -15.461081, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -45.771309, "energy": 33.571075, "activity_lines": [ 70.439999, 70.37109, 73.578475, 76.188494 ] }, { "date": "2026-05-01", "close": 70.550003, "volume": 1040685, "typical_volume": 2303771.95, "trend": 79.545333, "fair_value": 93.914046, "relative_strength": -15.90337, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -39.891638, "energy": 23.624837, "activity_lines": [ 71.107334, 70.125091, 73.070666, 75.545096 ] }, { "date": "2026-05-08", "close": 72.269997, "volume": 1505986, "typical_volume": 2335347.4, "trend": 78.692333, "fair_value": 94.00726, "relative_strength": -14.179999, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -36.003299, "energy": 21.763337, "activity_lines": [ 71.793333, 70.34309, 72.769237, 75.07572 ] }, { "date": "2026-05-15", "close": 75.339996, "volume": 29416350, "typical_volume": 3749087.1, "trend": 78.196999, "fair_value": 94.119209, "relative_strength": -8.170841, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -28.089154, "energy": 15.822294, "activity_lines": [ 72.964665, 71.258544, 72.787285, 74.85944 ] }, { "date": "2026-05-22", "close": 79.349998, "volume": 18088682, "typical_volume": 4565593.0, "trend": 77.841333, "fair_value": 94.256548, "relative_strength": -3.291951, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -7.779611, "energy": 11.634971, "activity_lines": [ 75.139331, 72.935635, 73.216047, 74.933827 ] }, { "date": "2026-05-29", "close": 78.790001, "volume": 3291312, "typical_volume": 4660049.05, "trend": 77.401333, "fair_value": 94.364495, "relative_strength": -2.966576, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": 1.109154, "energy": 14.849169, "activity_lines": [ 76.830665, 74.373817, 73.610666, 74.995031 ] }, { "date": "2026-06-05", "close": 94.449997, "volume": 24157744, "typical_volume": 5793062.0, "trend": 77.614999, "fair_value": 94.572512, "relative_strength": 17.206318, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 47.208959, "energy": 45.331285, "activity_lines": [ 83.227331, 78.47309, 75.49638, 76.094945 ] }, { "date": "2026-06-12", "close": 89.830002, "volume": 4163070, "typical_volume": 5363612.5, "trend": 77.701666, "fair_value": 94.756577, "relative_strength": 10.262125, "stage": 1, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 36.70272, "energy": 59.900333, "activity_lines": [ 86.490666, 81.146545, 76.876809, 76.88301 ] }, { "date": "2026-06-19", "close": 92.050003, "volume": 827845, "typical_volume": 5207393.4, "trend": 77.939999, "fair_value": 94.957076, "relative_strength": 11.070875, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 46.992116, "energy": 69.272875, "activity_lines": [ 89.323334, 83.757636, 78.408047, 77.808709 ] }, { "date": "2026-06-26", "close": 91.089996, "volume": 0, "typical_volume": 5115780.5, "trend": 78.182999, "fair_value": 95.154883, "relative_strength": 9.728763, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "up", "direction": 68.288537, "energy": 78.947931, "activity_lines": [ 90.722, 85.799454, 79.78638, 78.657096 ] }, { "date": "2026-07-03", "close": 90.629997, "volume": 679666, "typical_volume": 5096021.1, "trend": 78.399666, "fair_value": 95.314812, "relative_strength": 8.241887, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 64.762085, "energy": 72.883529, "activity_lines": [ 91.184665, 87.463272, 81.068523, 79.460128 ] }, { "date": "2026-07-10", "close": 87.809998, "volume": 2460091, "typical_volume": 5165929.65, "trend": 78.676999, "fair_value": 95.467363, "relative_strength": 5.212782, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 61.552407, "energy": 56.833117, "activity_lines": [ 89.917998, 88.258726, 82.034332, 80.067246 ] }, { "date": "2026-07-17", "close": 87.839996, "volume": 5004875, "typical_volume": 5312806.4, "trend": 79.006332, "fair_value": 95.586121, "relative_strength": 4.87795, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 57.752595, "energy": 42.580916, "activity_lines": [ 89.103997, 88.745816, 82.960427, 80.658407 ] }, { "date": "2026-07-24", "close": 85.510002, "volume": 2115450, "typical_volume": 5366120.45, "trend": 79.143666, "fair_value": 95.720467, "relative_strength": 4.957099, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 43.417424, "energy": 30.39768, "activity_lines": [ 87.645999, 88.526181, 83.626951, 81.077999 ] }, { "date": "2026-07-31", "close": 84.5, "volume": 1153384, "typical_volume": 5361427.3, "trend": 79.180999, "fair_value": 95.858409, "relative_strength": 1.513126, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 37.694021, "energy": 21.747597, "activity_lines": [ 86.287333, 87.937999, 84.15738, 81.423569 ] }, { "date": "2026-08-07", "close": 80.699997, "volume": 1804923, "typical_volume": 5375548.55, "trend": 79.246999, "fair_value": 95.967585, "relative_strength": -3.343011, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 26.745567, "energy": 19.184905, "activity_lines": [ 84.101332, 86.565271, 84.265475, 81.521569 ] } ], "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." } } }