{
  "ticker": {
    "uuid": "dd0c6b11-9d82-4ed2-b8f6-139e71f1640b",
    "symbol": "ULTRACEMCO",
    "name": "UltraTech Cement Limited",
    "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": 3,
    "stage_name": "Distribution",
    "phase": "3a",
    "phase_label": "Stage 3A \u00b7 Churning",
    "transition": "stage_3_churning",
    "transition_label": "Stage 3 range intact",
    "confidence": 59.431,
    "architecture_regime": "balance",
    "architecture_regime_label": "Balance",
    "architecture_modifier": "Balance after decline",
    "architecture_gate": "mixed",
    "architecture_direction": 32.972,
    "architecture_energy": 39.949,
    "architecture_maturity": 8.531,
    "architecture_confidence": 78.8,
    "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": 40.03,
        "rotation_up": 61.94,
        "upward_expansion": 44.83,
        "deceleration": 26.12,
        "rotation_down": 15.11,
        "downward_expansion": 19.83
      },
      "activity_lines": [
        11817.713737,
        11631.326421,
        11548.641955,
        11572.665953
      ],
      "activity_state": "Moderate",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 0.5
    },
    "latest_close": 12105.0,
    "trend_reference": 11733.729525,
    "distance_from_trend": 0.031641,
    "trend_direction": "Weakening",
    "fair_value": 10957.363294,
    "distance_from_fair_value": 0.104737,
    "fair_value_direction": "Weakening",
    "relative_strength": 2.720155,
    "relative_strength_direction": "Weakening",
    "price_momentum": -0.048499,
    "excess_performance": -0.00479,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.031641,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.007914,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.104737,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.015691,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.027202,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.005271,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.048499,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.571528,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 881058,
      "relative_activity": 0.704714,
      "balance": 1.571528,
      "dry_up": 1.218735,
      "accumulation_observations": 4,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.034434,
      "annualized_volatility": 0.275992,
      "from_high_reference": -0.076659,
      "from_low_reference": 0.172397
    },
    "levels": {
      "trend_reference": 11733.729525,
      "fair_value_reference": 10957.363294,
      "structural_low": 10325.0,
      "invalidation": "A decisive breakout above range resistance with renewed RS leadership invalidates the distribution reading; a range-low break confirms deterioration."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 7,
        "median_return": -0.012054,
        "positive_rate": 0.428571,
        "directional_follow_through": 0.428571,
        "median_excess_return": -0.00142,
        "regime_survival": 0.428571,
        "best_return": 0.113239,
        "worst_return": -0.186749,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 3,
        "median_return": 0.058669,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.666667,
        "median_excess_return": -0.015413,
        "regime_survival": 0.333333,
        "best_return": 0.086271,
        "worst_return": -0.190775,
        "sufficient": false
      },
      {
        "horizon": "Extended",
        "sample_count": 2,
        "median_return": -0.054655,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": -0.053933,
        "regime_survival": 0.0,
        "best_return": 0.150002,
        "worst_return": -0.259312,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 2,
        "median_return": 0.031138,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": -0.045046,
        "regime_survival": 0.0,
        "best_return": 0.105609,
        "worst_return": -0.043334,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-01-10",
        "end": "2025-02-28",
        "tenure": "Developing",
        "return": -0.067808,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-03-07",
        "end": "2025-04-04",
        "tenure": "Developing",
        "return": 0.086582,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-04-11",
        "end": "2025-04-25",
        "tenure": "New",
        "return": 0.063842,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-05-02",
        "end": "2025-06-06",
        "tenure": "Developing",
        "return": -0.031,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-06-13",
        "end": "2025-07-04",
        "tenure": "New",
        "return": 0.11422,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-07-11",
        "end": "2025-09-26",
        "tenure": "Developing",
        "return": -0.027891,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-10-03",
        "end": "2025-11-07",
        "tenure": "Developing",
        "return": -0.014144,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2025-11-14",
        "end": "2025-12-19",
        "tenure": "Developing",
        "return": -0.031834,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-12-26",
        "end": "2026-01-23",
        "tenure": "Developing",
        "return": 0.048754,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2026-01-30",
        "end": "2026-02-20",
        "tenure": "New",
        "return": 0.005672,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2026-02-27",
        "end": "2026-03-06",
        "tenure": "New",
        "return": -0.054429,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2026-03-13",
        "end": "2026-03-27",
        "tenure": "New",
        "return": 0.040787,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2026-04-03",
        "end": "2026-07-17",
        "tenure": "Established",
        "return": 0.082149,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2026-07-24",
        "end": "2026-08-07",
        "tenure": "New",
        "return": 0.042722,
        "active": true
      }
    ],
    "chart_path": [
      {
        "date": "2023-08-18",
        "close": 8114.981934,
        "volume": 1341079,
        "typical_volume": 1403517.55,
        "trend": 7594.899398,
        "fair_value": 6529.880659,
        "relative_strength": 6.239552,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 46.848955,
        "energy": 34.955727,
        "activity_lines": [
          8085.578255,
          8088.189666,
          7973.930146,
          7822.669459
        ]
      },
      {
        "date": "2023-08-25",
        "close": 7973.325684,
        "volume": 1083442,
        "typical_volume": 1416601.9,
        "trend": 7640.551025,
        "fair_value": 6555.653179,
        "relative_strength": 4.377275,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 39.791423,
        "energy": 25.187124,
        "activity_lines": [
          8050.166634,
          8066.275852,
          7987.262154,
          7847.084058
        ]
      },
      {
        "date": "2023-09-01",
        "close": 8161.95459,
        "volume": 1479967,
        "typical_volume": 1433661.95,
        "trend": 7676.966471,
        "fair_value": 6583.548285,
        "relative_strength": 5.652446,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 47.854371,
        "energy": 28.538482,
        "activity_lines": [
          8078.343295,
          8082.679377,
          8016.655385,
          7880.722998
        ]
      },
      {
        "date": "2023-09-08",
        "close": 8328.05957,
        "volume": 1487981,
        "typical_volume": 1412128.15,
        "trend": 7718.366455,
        "fair_value": 6612.583011,
        "relative_strength": 5.47506,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 66.435662,
        "energy": 40.756029,
        "activity_lines": [
          8164.809017,
          8125.351074,
          8058.848263,
          7922.729004
        ]
      },
      {
        "date": "2023-09-15",
        "close": 8622.240234,
        "volume": 1457749,
        "typical_volume": 1400408.85,
        "trend": 7766.563411,
        "fair_value": 6642.889155,
        "relative_strength": 6.859621,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 80.001523,
        "energy": 64.604995,
        "activity_lines": [
          8331.395768,
          8218.393297,
          8123.857929,
          7981.043441
        ]
      },
      {
        "date": "2023-09-22",
        "close": 8087.865723,
        "volume": 1365488,
        "typical_volume": 1394632.3,
        "trend": 7799.607845,
        "fair_value": 6670.668589,
        "relative_strength": 2.567291,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 57.464246,
        "energy": 49.332719,
        "activity_lines": [
          8280.646875,
          8206.556472,
          8132.299258,
          8001.772623
        ]
      },
      {
        "date": "2023-09-29",
        "close": 8154.496094,
        "volume": 2216254,
        "typical_volume": 1436102.25,
        "trend": 7834.897868,
        "fair_value": 6697.382913,
        "relative_strength": 3.326862,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 54.265153,
        "energy": 41.98821,
        "activity_lines": [
          8253.915853,
          8206.078516,
          8144.295406,
          8024.668639
        ]
      },
      {
        "date": "2023-10-06",
        "close": 8095.818359,
        "volume": 1807768,
        "typical_volume": 1479683.85,
        "trend": 7867.889453,
        "fair_value": 6722.469933,
        "relative_strength": 2.212431,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 49.133729,
        "energy": 29.075109,
        "activity_lines": [
          8195.547559,
          8191.832049,
          8147.942199,
          8041.502219
        ]
      },
      {
        "date": "2023-10-13",
        "close": 8267.257813,
        "volume": 1241947,
        "typical_volume": 1493836.3,
        "trend": 7904.512614,
        "fair_value": 6747.509856,
        "relative_strength": 3.543828,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 40.302728,
        "energy": 18.555517,
        "activity_lines": [
          8198.734831,
          8210.755433,
          8165.333596,
          8067.267919
        ]
      },
      {
        "date": "2023-10-20",
        "close": 8358.189453,
        "volume": 2268149,
        "typical_volume": 1497434.6,
        "trend": 7940.374365,
        "fair_value": 6772.992654,
        "relative_strength": 5.439379,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 46.430324,
        "energy": 23.652402,
        "activity_lines": [
          8236.2861,
          8242.424822,
          8188.175691,
          8096.537393
        ]
      },
      {
        "date": "2023-10-27",
        "close": 8110.339844,
        "volume": 1338336,
        "typical_volume": 1474611.0,
        "trend": 7960.877979,
        "fair_value": 6796.453197,
        "relative_strength": 4.629329,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 34.626374,
        "energy": 17.573455,
        "activity_lines": [
          8208.824219,
          8223.137713,
          8184.373712,
          8107.502908
        ]
      },
      {
        "date": "2023-11-03",
        "close": 8418.991211,
        "volume": 1116491,
        "typical_volume": 1455577.8,
        "trend": 7989.057536,
        "fair_value": 6822.004852,
        "relative_strength": 7.25301,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 58.740682,
        "energy": 31.814028,
        "activity_lines": [
          8282.747852,
          8260.053436,
          8209.524951,
          8137.0586
        ]
      },
      {
        "date": "2023-11-10",
        "close": 8604.952148,
        "volume": 811522,
        "typical_volume": 1429678.15,
        "trend": 8024.963249,
        "fair_value": 6846.604558,
        "relative_strength": 8.12639,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 68.505592,
        "energy": 50.73715,
        "activity_lines": [
          8401.025456,
          8322.677228,
          8251.317704,
          8176.793736
        ]
      },
      {
        "date": "2023-11-17",
        "close": 8684.079102,
        "volume": 642005,
        "typical_volume": 1412464.45,
        "trend": 8073.233496,
        "fair_value": 6871.94351,
        "relative_strength": 7.053645,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 71.171328,
        "energy": 62.553298,
        "activity_lines": [
          8511.736458,
          8391.633239,
          8297.506843,
          8219.31734
        ]
      },
      {
        "date": "2023-11-24",
        "close": 8452.182617,
        "volume": 1224687,
        "typical_volume": 1403393.2,
        "trend": 8107.293587,
        "fair_value": 6896.1736,
        "relative_strength": 3.564141,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 57.811766,
        "energy": 59.60746,
        "activity_lines": [
          8517.360547,
          8411.953169,
          8319.098949,
          8243.76567
        ]
      },
      {
        "date": "2023-12-01",
        "close": 8924.025391,
        "volume": 1929558,
        "typical_volume": 1424637.85,
        "trend": 8154.7021,
        "fair_value": 6921.62331,
        "relative_strength": 6.496329,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 76.602076,
        "energy": 72.346936,
        "activity_lines": [
          8673.999349,
          8521.154652,
          8384.416344,
          8296.458045
        ]
      },
      {
        "date": "2023-12-08",
        "close": 9299.109375,
        "volume": 1889534,
        "typical_volume": 1439233.5,
        "trend": 8212.182861,
        "fair_value": 6949.953917,
        "relative_strength": 6.92582,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 86.930375,
        "energy": 83.587522,
        "activity_lines": [
          8901.420443,
          8683.35032,
          8481.276377,
          8370.290772
        ]
      },
      {
        "date": "2023-12-15",
        "close": 9907.523438,
        "volume": 4300210,
        "typical_volume": 1570287.35,
        "trend": 8290.653776,
        "fair_value": 6981.327014,
        "relative_strength": 10.901661,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 93.794942,
        "energy": 94.903173,
        "activity_lines": [
          9272.97168,
          8935.355575,
          8629.818206,
          8479.667583
        ]
      },
      {
        "date": "2023-12-22",
        "close": 9847.806641,
        "volume": 1886846,
        "typical_volume": 1603096.45,
        "trend": 8365.804948,
        "fair_value": 7012.989358,
        "relative_strength": 10.380593,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 86.867426,
        "energy": 94.823388,
        "activity_lines": [
          9537.779232,
          9143.563139,
          8764.569113,
          8580.129059
        ]
      },
      {
        "date": "2023-12-29",
        "close": 10375.365234,
        "volume": 1548731,
        "typical_volume": 1621887.2,
        "trend": 8454.31958,
        "fair_value": 7046.498848,
        "relative_strength": 13.728968,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 91.703068,
        "energy": 96.775818,
        "activity_lines": [
          9900.857813,
          9418.953196,
          8941.045433,
          8709.778109
        ]
      },
      {
        "date": "2024-01-05",
        "close": 9894.285156,
        "volume": 1091726,
        "typical_volume": 1609419.55,
        "trend": 8516.879476,
        "fair_value": 7075.047435,
        "relative_strength": 8.205181,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 68.348079,
        "energy": 88.396551,
        "activity_lines": [
          9975.364193,
          9570.198224,
          9060.555618,
          8802.679114
        ]
      },
      {
        "date": "2024-01-12",
        "close": 9689.208984,
        "volume": 1546127,
        "typical_volume": 1632553.8,
        "trend": 8566.703434,
        "fair_value": 7103.151505,
        "relative_strength": 4.854969,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 66.51284,
        "energy": 82.693799,
        "activity_lines": [
          9916.827864,
          9651.721307,
          9152.061865,
          8878.313276
        ]
      },
      {
        "date": "2024-01-19",
        "close": 9970.991211,
        "volume": 1519481,
        "typical_volume": 1634529.5,
        "trend": 8634.214665,
        "fair_value": 7132.547003,
        "relative_strength": 8.916837,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 68.865728,
        "energy": 66.771901,
        "activity_lines": [
          9926.212305,
          9761.382653,
          9262.233643,
          8968.912487
        ]
      },
      {
        "date": "2024-01-26",
        "close": 9848.152344,
        "volume": 1148973,
        "typical_volume": 1617579.1,
        "trend": 8690.598682,
        "fair_value": 7162.449582,
        "relative_strength": 8.509962,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 62.356343,
        "energy": 59.476947,
        "activity_lines": [
          9890.419271,
          9823.872585,
          9352.09202,
          9047.231047
        ]
      },
      {
        "date": "2024-02-02",
        "close": 9975.782227,
        "volume": 1780753,
        "typical_volume": 1633729.3,
        "trend": 8749.870166,
        "fair_value": 7186.778205,
        "relative_strength": 7.102123,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 66.031026,
        "energy": 56.497229,
        "activity_lines": [
          9897.146485,
          9888.402983,
          9446.867088,
          9130.146115
        ]
      },
      {
        "date": "2024-02-09",
        "close": 9824.839844,
        "volume": 1385255,
        "typical_volume": 1634717.65,
        "trend": 8809.154834,
        "fair_value": 7209.857644,
        "relative_strength": 5.568631,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 49.822891,
        "energy": 47.431437,
        "activity_lines": [
          9880.198438,
          9897.7875,
          9520.821252,
          9199.498997
        ]
      },
      {
        "date": "2024-02-16",
        "close": 9795.649414,
        "volume": 1551582,
        "typical_volume": 1601484.05,
        "trend": 8869.542969,
        "fair_value": 7233.927221,
        "relative_strength": 3.81397,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 47.598609,
        "energy": 41.480017,
        "activity_lines": [
          9858.149935,
          9885.486222,
          9583.72407,
          9263.143809
        ]
      },
      {
        "date": "2024-02-23",
        "close": 9879.320313,
        "volume": 1421721,
        "typical_volume": 1582181.7,
        "trend": 8925.328125,
        "fair_value": 7259.116317,
        "relative_strength": 3.710853,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 46.229403,
        "energy": 38.207819,
        "activity_lines": [
          9856.895703,
          9879.369833,
          9646.780529,
          9328.290734
        ]
      },
      {
        "date": "2024-03-01",
        "close": 10012.283203,
        "volume": 1359184,
        "typical_volume": 1588043.55,
        "trend": 8990.438509,
        "fair_value": 7280.821079,
        "relative_strength": 4.303559,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 60.88669,
        "energy": 42.194307,
        "activity_lines": [
          9906.073828,
          9897.9413,
          9714.007255,
          9398.416868
        ]
      },
      {
        "date": "2024-03-08",
        "close": 9555.554688,
        "volume": 1651834,
        "typical_volume": 1557227.8,
        "trend": 9041.154395,
        "fair_value": 7300.671812,
        "relative_strength": -1.213433,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 40.600487,
        "energy": 27.586849,
        "activity_lines": [
          9792.067058,
          9830.480735,
          9729.426381,
          9434.875977
        ]
      },
      {
        "date": "2024-03-15",
        "close": 9515.842773,
        "volume": 1698128,
        "typical_volume": 1575217.4,
        "trend": 9087.849756,
        "fair_value": 7320.056857,
        "relative_strength": 0.418579,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 34.607329,
        "energy": 20.226195,
        "activity_lines": [
          9692.838151,
          9770.705469,
          9735.361682,
          9465.501033
        ]
      },
      {
        "date": "2024-03-22",
        "close": 9564.048828,
        "volume": 1154023,
        "typical_volume": 1577094.0,
        "trend": 9140.873861,
        "fair_value": 7339.356417,
        "relative_strength": 0.578255,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 20.960741,
        "energy": 14.911006,
        "activity_lines": [
          9630.277734,
          9726.57571,
          9739.195164,
          9496.223554
        ]
      },
      {
        "date": "2024-03-29",
        "close": 9630.629883,
        "volume": 1172127,
        "typical_volume": 1595124.25,
        "trend": 9189.829704,
        "fair_value": 7358.062387,
        "relative_strength": 0.23629,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 16.867694,
        "energy": 17.538537,
        "activity_lines": [
          9605.351042,
          9696.827237,
          9743.917043,
          9527.820717
        ]
      },
      {
        "date": "2024-04-05",
        "close": 9704.173828,
        "volume": 1802863,
        "typical_volume": 1653167.15,
        "trend": 9235.700179,
        "fair_value": 7377.695103,
        "relative_strength": 0.160606,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 17.666652,
        "energy": 13.860191,
        "activity_lines": [
          9621.518359,
          9686.638778,
          9750.758929,
          9561.004209
        ]
      },
      {
        "date": "2024-04-12",
        "close": 9535.204102,
        "volume": 1118338,
        "typical_volume": 1647849.7,
        "trend": 9266.132308,
        "fair_value": 7396.934814,
        "relative_strength": -1.613487,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 11.333124,
        "energy": 9.477888,
        "activity_lines": [
          9601.90306,
          9648.346342,
          9736.650865,
          9580.327042
        ]
      },
      {
        "date": "2024-04-19",
        "close": 9250.113281,
        "volume": 1768168,
        "typical_volume": 1639780.2,
        "trend": 9304.873893,
        "fair_value": 7418.384296,
        "relative_strength": -2.980982,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": -5.799591,
        "energy": 11.801369,
        "activity_lines": [
          9488.614193,
          9566.229723,
          9690.23405,
          9579.293557
        ]
      },
      {
        "date": "2024-04-26",
        "close": 9582.966797,
        "volume": 1577202,
        "typical_volume": 1624163.6,
        "trend": 9352.489583,
        "fair_value": 7440.651114,
        "relative_strength": -0.784956,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 8.368522,
        "energy": 11.435784,
        "activity_lines": [
          9503.991797,
          9555.081499,
          9673.964769,
          9597.235035
        ]
      },
      {
        "date": "2024-05-03",
        "close": 9696.962891,
        "volume": 2422545,
        "typical_volume": 1530280.35,
        "trend": 9405.861068,
        "fair_value": 7462.382863,
        "relative_strength": 0.07292,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 12.958179,
        "energy": 10.983344,
        "activity_lines": [
          9556.106901,
          9568.526793,
          9667.200558,
          9619.459119
        ]
      },
      {
        "date": "2024-05-10",
        "close": 9376.30957,
        "volume": 1378815,
        "typical_volume": 1504878.8,
        "trend": 9442.82946,
        "fair_value": 7482.768921,
        "relative_strength": -1.441454,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 0.731057,
        "energy": 8.65974,
        "activity_lines": [
          9496.915365,
          9526.987074,
          9630.900605,
          9617.552571
        ]
      },
      {
        "date": "2024-05-17",
        "close": 9770.113281,
        "volume": 1200690,
        "typical_volume": 1487476.75,
        "trend": 9489.893587,
        "fair_value": 7503.998457,
        "relative_strength": 0.730126,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 22.692444,
        "energy": 11.409762,
        "activity_lines": [
          9590.849349,
          9568.611186,
          9634.350991,
          9638.667656
        ]
      },
      {
        "date": "2024-05-24",
        "close": 10106.720703,
        "volume": 1668224,
        "typical_volume": 1516301.65,
        "trend": 9556.439616,
        "fair_value": 7527.629604,
        "relative_strength": 1.836848,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 41.329504,
        "energy": 24.661831,
        "activity_lines": [
          9781.325195,
          9667.535582,
          9672.741378,
          9678.462954
        ]
      },
      {
        "date": "2024-05-31",
        "close": 9794.958008,
        "volume": 2225479,
        "typical_volume": 1550269.25,
        "trend": 9602.305176,
        "fair_value": 7548.851876,
        "relative_strength": 0.481913,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Re-acceleration watch",
        "gate": "up",
        "direction": 36.11451,
        "energy": 23.472249,
        "activity_lines": [
          9810.772982,
          9699.032617,
          9680.428483,
          9693.851237
        ]
      },
      {
        "date": "2024-06-07",
        "close": 10335.950195,
        "volume": 3095220,
        "typical_volume": 1629056.2,
        "trend": 9660.005111,
        "fair_value": 7573.551088,
        "relative_strength": 2.519996,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Re-acceleration watch",
        "gate": "up",
        "direction": 59.606561,
        "energy": 49.745855,
        "activity_lines": [
          10006.41875,
          9824.693519,
          9739.135086,
          9741.183174
        ]
      },
      {
        "date": "2024-06-14",
        "close": 11106.121094,
        "volume": 2702176,
        "typical_volume": 1706716.35,
        "trend": 9740.739844,
        "fair_value": 7602.993634,
        "relative_strength": 9.151152,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 84.174948,
        "energy": 78.643762,
        "activity_lines": [
          10416.188997,
          10077.561488,
          9869.453399,
          9834.480979
        ]
      },
      {
        "date": "2024-06-21",
        "close": 10532.77832,
        "volume": 2014104,
        "typical_volume": 1718383.9,
        "trend": 9810.093034,
        "fair_value": 7627.331984,
        "relative_strength": 3.256942,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 63.548699,
        "energy": 71.060311,
        "activity_lines": [
          10519.524219,
          10200.695366,
          9939.177311,
          9885.580236
        ]
      },
      {
        "date": "2024-06-28",
        "close": 11526.054688,
        "volume": 4655944,
        "typical_volume": 1881918.35,
        "trend": 9896.827344,
        "fair_value": 7659.304246,
        "relative_strength": 10.327981,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 85.825651,
        "energy": 84.623879,
        "activity_lines": [
          10903.107227,
          10486.287234,
          10100.84661,
          9996.287439
        ]
      },
      {
        "date": "2024-07-05",
        "close": 11548.033203,
        "volume": 1801900,
        "typical_volume": 1894434.25,
        "trend": 9971.791471,
        "fair_value": 7690.2969,
        "relative_strength": 8.870791,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 79.792138,
        "energy": 86.556181,
        "activity_lines": [
          11199.394141,
          10734.494442,
          10256.508078,
          10102.816849
        ]
      },
      {
        "date": "2024-07-12",
        "close": 11461.250977,
        "volume": 1615610,
        "typical_volume": 1904128.7,
        "trend": 10023.582389,
        "fair_value": 7718.020117,
        "relative_strength": 6.999769,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 72.379832,
        "energy": 83.160133,
        "activity_lines": [
          11349.881966,
          10931.194585,
          10395.559887,
          10198.911011
        ]
      },
      {
        "date": "2024-07-19",
        "close": 11121.433594,
        "volume": 2195954,
        "typical_volume": 1945967.2,
        "trend": 10066.036621,
        "fair_value": 7742.59359,
        "relative_strength": 3.482527,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 65.948813,
        "energy": 75.379154,
        "activity_lines": [
          11312.077279,
          11034.031783,
          10494.715132,
          10269.740121
        ]
      },
      {
        "date": "2024-07-26",
        "close": 11531.140625,
        "volume": 1955022,
        "typical_volume": 1961126.6,
        "trend": 10104.562468,
        "fair_value": 7768.98943,
        "relative_strength": 5.765105,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 69.664831,
        "energy": 66.158868,
        "activity_lines": [
          11409.820768,
          11179.631641,
          10627.608426,
          10364.26296
        ]
      },
      {
        "date": "2024-08-02",
        "close": 11690.398438,
        "volume": 1780622,
        "typical_volume": 1965251.3,
        "trend": 10164.43291,
        "fair_value": 7796.748044,
        "relative_strength": 7.451452,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 71.622883,
        "energy": 57.214966,
        "activity_lines": [
          11494.092709,
          11322.168786,
          10766.261579,
          10466.574958
        ]
      },
      {
        "date": "2024-08-09",
        "close": 11229.170898,
        "volume": 1479582,
        "typical_volume": 1981529.25,
        "trend": 10215.764974,
        "fair_value": 7821.96968,
        "relative_strength": 4.479513,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 60.542214,
        "energy": 47.664142,
        "activity_lines": [
          11413.665885,
          11352.052237,
          10850.633273,
          10535.267731
        ]
      },
      {
        "date": "2024-08-16",
        "close": 11224.550781,
        "volume": 1230687,
        "typical_volume": 1984457.25,
        "trend": 10257.550293,
        "fair_value": 7846.957063,
        "relative_strength": 3.529932,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 48.913063,
        "energy": 40.586633,
        "activity_lines": [
          11352.95651,
          11355.01907,
          10926.635803,
          10600.350687
        ]
      },
      {
        "date": "2024-08-23",
        "close": 11270.360352,
        "volume": 1686329,
        "typical_volume": 1978630.55,
        "trend": 10304.957227,
        "fair_value": 7871.785272,
        "relative_strength": 2.59214,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 45.255568,
        "energy": 35.157008,
        "activity_lines": [
          11323.297005,
          11350.158541,
          10999.411049,
          10665.693271
        ]
      },
      {
        "date": "2024-08-30",
        "close": 11230.711914,
        "volume": 1488190,
        "typical_volume": 1997123.15,
        "trend": 10346.788216,
        "fair_value": 7894.076372,
        "relative_strength": 0.44972,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 41.983061,
        "energy": 28.513243,
        "activity_lines": [
          11270.492904,
          11335.103036,
          11060.952223,
          10725.41938
        ]
      },
      {
        "date": "2024-09-06",
        "close": 11360.836914,
        "volume": 1280650,
        "typical_volume": 1972747.25,
        "trend": 10397.988119,
        "fair_value": 7917.14019,
        "relative_strength": 3.017399,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 43.033578,
        "energy": 29.083616,
        "activity_lines": [
          11281.092383,
          11331.016921,
          11126.812407,
          10790.841877
        ]
      },
      {
        "date": "2024-09-13",
        "close": 11644.141602,
        "volume": 1269096,
        "typical_volume": 1957341.95,
        "trend": 10459.604525,
        "fair_value": 7943.447807,
        "relative_strength": 3.341928,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 63.618303,
        "energy": 40.457882,
        "activity_lines": [
          11408.097526,
          11381.444709,
          11209.602925,
          10871.238876
        ]
      },
      {
        "date": "2024-09-20",
        "close": 11723.985352,
        "volume": 1481682,
        "typical_volume": 1910298.8,
        "trend": 10521.093359,
        "fair_value": 7971.460268,
        "relative_strength": 2.10564,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 65.662797,
        "energy": 47.842554,
        "activity_lines": [
          11534.052539,
          11444.642117,
          11290.182492,
          10952.811832
        ]
      },
      {
        "date": "2024-09-27",
        "close": 11877.014648,
        "volume": 1399397,
        "typical_volume": 1911327.9,
        "trend": 10583.251074,
        "fair_value": 8000.691541,
        "relative_strength": 1.736347,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 72.257737,
        "energy": 70.671931,
        "activity_lines": [
          11677.72168,
          11530.886044,
          11375.683789,
          11040.290625
        ]
      },
      {
        "date": "2024-10-04",
        "close": 11378.126953,
        "volume": 1392286,
        "typical_volume": 1920907.7,
        "trend": 10644.003483,
        "fair_value": 8027.651154,
        "relative_strength": 1.811064,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 59.315488,
        "energy": 55.54669,
        "activity_lines": [
          11614.651302,
          11512.685281,
          11401.763853,
          11091.57294
        ]
      },
      {
        "date": "2024-10-11",
        "close": 11349.359375,
        "volume": 1409078,
        "typical_volume": 1907950.4,
        "trend": 10705.120703,
        "fair_value": 8054.051874,
        "relative_strength": 1.600808,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 55.154847,
        "energy": 38.563396,
        "activity_lines": [
          11532.164062,
          11492.036115,
          11417.44694,
          11137.079772
        ]
      },
      {
        "date": "2024-10-18",
        "close": 10999.577148,
        "volume": 1287293,
        "typical_volume": 1861041.1,
        "trend": 10752.971647,
        "fair_value": 8079.75159,
        "relative_strength": -1.157083,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 25.767155,
        "energy": 15.666563,
        "activity_lines": [
          11333.847916,
          11413.990891,
          11393.900107,
          11156.076962
        ]
      },
      {
        "date": "2024-10-25",
        "close": 10925.943359,
        "volume": 2573317,
        "typical_volume": 1834945.95,
        "trend": 10796.148763,
        "fair_value": 8101.930451,
        "relative_strength": 0.802084,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": -0.06382,
        "energy": 14.533021,
        "activity_lines": [
          11153.958138,
          11326.732138,
          11357.60425,
          11167.236427
        ]
      },
      {
        "date": "2024-11-01",
        "close": 11075.594727,
        "volume": 1178526,
        "typical_volume": 1758763.45,
        "trend": 10841.862793,
        "fair_value": 8123.534637,
        "relative_strength": 1.585254,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 5.777702,
        "energy": 19.705979,
        "activity_lines": [
          11077.154948,
          11272.11195,
          11332.751414,
          11185.265199
        ]
      },
      {
        "date": "2024-11-08",
        "close": 10973.790039,
        "volume": 1316040,
        "typical_volume": 1723860.25,
        "trend": 10889.815658,
        "fair_value": 8143.233032,
        "relative_strength": 1.252607,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": -2.431266,
        "energy": 20.932239,
        "activity_lines": [
          11019.844857,
          11202.523011,
          11298.348256,
          11193.776634
        ]
      },
      {
        "date": "2024-11-15",
        "close": 10660.923828,
        "volume": 788161,
        "typical_volume": 1530471.1,
        "trend": 10936.842676,
        "fair_value": 8162.88793,
        "relative_strength": 0.882783,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Momentum cooling",
        "gate": "mixed",
        "direction": -34.145524,
        "energy": 42.69006,
        "activity_lines": [
          10885.201823,
          11080.720614,
          11232.048261,
          11179.009419
        ]
      },
      {
        "date": "2024-11-22",
        "close": 11303.649414,
        "volume": 1229893,
        "typical_volume": 1501870.75,
        "trend": 10994.198763,
        "fair_value": 8189.000341,
        "relative_strength": 5.082806,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Momentum cooling",
        "gate": "up",
        "direction": 6.680093,
        "energy": 14.448645,
        "activity_lines": [
          11010.696354,
          11088.503107,
          11231.079897,
          11202.67437
        ]
      },
      {
        "date": "2024-11-29",
        "close": 11131.59082,
        "volume": 1732766,
        "typical_volume": 1507728.55,
        "trend": 11042.019694,
        "fair_value": 8214.400278,
        "relative_strength": 2.431429,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 6.496158,
        "energy": 9.845139,
        "activity_lines": [
          11058.566536,
          11071.192986,
          11214.888732,
          11211.538374
        ]
      },
      {
        "date": "2024-12-06",
        "close": 11773.869141,
        "volume": 2071970,
        "typical_volume": 1501529.35,
        "trend": 11121.938346,
        "fair_value": 8243.240491,
        "relative_strength": 5.789458,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 46.045142,
        "energy": 22.603715,
        "activity_lines": [
          11306.819661,
          11181.431552,
          11261.436742,
          11258.754467
        ]
      },
      {
        "date": "2024-12-13",
        "close": 12007.786133,
        "volume": 1684653,
        "typical_volume": 1488010.9,
        "trend": 11196.527441,
        "fair_value": 8274.226356,
        "relative_strength": 7.391416,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 66.993047,
        "energy": 43.399621,
        "activity_lines": [
          11586.49349,
          11336.075852,
          11327.155725,
          11315.905937
        ]
      },
      {
        "date": "2024-12-20",
        "close": 11350.849609,
        "volume": 1144536,
        "typical_volume": 1456206.6,
        "trend": 11237.998405,
        "fair_value": 8301.706499,
        "relative_strength": 6.507522,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Re-acceleration watch",
        "gate": "up",
        "direction": 49.642023,
        "energy": 34.807295,
        "activity_lines": [
          11578.255404,
          11359.8288,
          11328.039583,
          11325.862206
        ]
      },
      {
        "date": "2024-12-27",
        "close": 11334.702148,
        "volume": 520043,
        "typical_volume": 1408229.65,
        "trend": 11289.32321,
        "fair_value": 8326.787648,
        "relative_strength": 5.353616,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Re-acceleration watch",
        "gate": "up",
        "direction": 40.998838,
        "energy": 31.530126,
        "activity_lines": [
          11518.639778,
          11380.61875,
          11329.002488,
          11332.101157
        ]
      },
      {
        "date": "2025-01-03",
        "close": 11711.762695,
        "volume": 1019674,
        "typical_volume": 1397679.0,
        "trend": 11335.183626,
        "fair_value": 8354.493305,
        "relative_strength": 7.84293,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Re-acceleration watch",
        "gate": "up",
        "direction": 55.498833,
        "energy": 39.677262,
        "activity_lines": [
          11582.64082,
          11463.871981,
          11365.373391,
          11359.355317
        ]
      },
      {
        "date": "2025-01-10",
        "close": 10796.762695,
        "volume": 921788,
        "typical_volume": 1359451.95,
        "trend": 11324.87168,
        "fair_value": 8375.690533,
        "relative_strength": 1.770866,
        "stage": 2,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": -25.224593,
        "energy": 13.028529,
        "activity_lines": [
          11302.963737,
          11366.473952,
          11312.28138,
          11324.618483
        ]
      },
      {
        "date": "2025-01-17",
        "close": 10513.359375,
        "volume": 1615434,
        "typical_volume": 1365814.15,
        "trend": 11324.224382,
        "fair_value": 8396.969507,
        "relative_strength": 0.108746,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "down",
        "direction": -62.691301,
        "energy": 36.839527,
        "activity_lines": [
          10993.95931,
          11222.61772,
          11234.453804,
          11272.262851
        ]
      },
      {
        "date": "2025-01-24",
        "close": 11214.762695,
        "volume": 3232260,
        "typical_volume": 1463394.65,
        "trend": 11313.847982,
        "fair_value": 8424.297751,
        "relative_strength": 7.189563,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "down",
        "direction": -45.479961,
        "energy": 30.42686,
        "activity_lines": [
          11018.38444,
          11214.660831,
          11226.842508,
          11265.200806
        ]
      },
      {
        "date": "2025-01-31",
        "close": 11415.09375,
        "volume": 1865932,
        "typical_volume": 1493236.45,
        "trend": 11309.416667,
        "fair_value": 8450.843133,
        "relative_strength": 7.040488,
        "stage": 2,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "down",
        "direction": -37.70525,
        "energy": 25.27299,
        "activity_lines": [
          11118.659049,
          11233.057972,
          11239.005952,
          11271.732791
        ]
      },
      {
        "date": "2025-02-07",
        "close": 11567.27832,
        "volume": 2135057,
        "typical_volume": 1525905.2,
        "trend": 11312.950911,
        "fair_value": 8479.091409,
        "relative_strength": 8.047321,
        "stage": 2,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "down",
        "direction": -17.542779,
        "energy": 8.72451,
        "activity_lines": [
          11264.302409,
          11277.098775,
          11266.753869,
          11288.369027
        ]
      },
      {
        "date": "2025-02-14",
        "close": 11192.901367,
        "volume": 1526318,
        "typical_volume": 1532251.25,
        "trend": 11315.333171,
        "fair_value": 8507.490713,
        "relative_strength": 7.22777,
        "stage": 2,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "down",
        "direction": -28.30502,
        "energy": 14.389019,
        "activity_lines": [
          11294.785742,
          11245.149449,
          11259.593062,
          11280.623895
        ]
      },
      {
        "date": "2025-02-21",
        "close": 11086.972656,
        "volume": 1054855,
        "typical_volume": 1515379.7,
        "trend": 11300.527572,
        "fair_value": 8537.381758,
        "relative_strength": 6.646889,
        "stage": 2,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "down",
        "direction": -31.763395,
        "energy": 14.783273,
        "activity_lines": [
          11263.55026,
          11204.503409,
          11245.601488,
          11265.890959
        ]
      },
      {
        "date": "2025-02-28",
        "close": 10064.65332,
        "volume": 3424944,
        "typical_volume": 1616173.0,
        "trend": 11246.336068,
        "fair_value": 8563.978275,
        "relative_strength": -0.278072,
        "stage": 4,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "down",
        "direction": -68.326169,
        "energy": 45.017149,
        "activity_lines": [
          10853.300781,
          10994.723189,
          11135.632617,
          11186.157136
        ]
      },
      {
        "date": "2025-03-07",
        "close": 10515.744141,
        "volume": 2167357,
        "typical_volume": 1660176.2,
        "trend": 11222.555176,
        "fair_value": 8593.65004,
        "relative_strength": 2.036614,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -58.329888,
        "energy": 57.683499,
        "activity_lines": [
          10670.088867,
          10890.344868,
          11074.742425,
          11139.022173
        ]
      },
      {
        "date": "2025-03-14",
        "close": 10386.263672,
        "volume": 865641,
        "typical_volume": 1574792.4,
        "trend": 11194.612272,
        "fair_value": 8620.28187,
        "relative_strength": 1.344054,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -62.612584,
        "energy": 64.73947,
        "activity_lines": [
          10503.673438,
          10777.31479,
          11003.824726,
          11085.067883
        ]
      },
      {
        "date": "2025-03-21",
        "close": 10907.609375,
        "volume": 1687052,
        "typical_volume": 1600218.7,
        "trend": 11182.520573,
        "fair_value": 8650.637351,
        "relative_strength": 1.939446,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -58.036314,
        "energy": 59.255554,
        "activity_lines": [
          10589.774219,
          10783.174822,
          10985.128901,
          11066.551567
        ]
      },
      {
        "date": "2025-03-28",
        "close": 11437.053711,
        "volume": 2137786,
        "typical_volume": 1641306.0,
        "trend": 11189.398633,
        "fair_value": 8682.143868,
        "relative_strength": 5.875571,
        "stage": 3,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -34.299022,
        "energy": 18.089571,
        "activity_lines": [
          10871.375912,
          10883.282067,
          11017.656278,
          11082.973059
        ]
      },
      {
        "date": "2025-04-04",
        "close": 11426.222656,
        "volume": 1223687,
        "typical_volume": 1663082.3,
        "trend": 11191.578157,
        "fair_value": 8712.537723,
        "relative_strength": 8.307384,
        "stage": 3,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -16.401405,
        "energy": 12.874771,
        "activity_lines": [
          11126.028516,
          10964.625586,
          11046.946108,
          11098.252029
        ]
      },
      {
        "date": "2025-04-11",
        "close": 11430.197266,
        "volume": 1668281,
        "typical_volume": 1685001.7,
        "trend": 11184.44668,
        "fair_value": 8743.627369,
        "relative_strength": 8.355679,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": 5.050718,
        "energy": 17.011059,
        "activity_lines": [
          11291.234701,
          11042.847035,
          11072.970192,
          11113.64681
        ]
      },
      {
        "date": "2025-04-18",
        "close": 11826.038086,
        "volume": 903883,
        "typical_volume": 1643557.55,
        "trend": 11187.848437,
        "fair_value": 8777.166398,
        "relative_strength": 6.951524,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": 27.230725,
        "energy": 30.064858,
        "activity_lines": [
          11527.424284,
          11192.764933,
          11136.090792,
          11155.039804
        ]
      },
      {
        "date": "2025-04-25",
        "close": 12159.921875,
        "volume": 1585279,
        "typical_volume": 1619223.0,
        "trend": 11197.278678,
        "fair_value": 8813.559267,
        "relative_strength": 8.758703,
        "stage": 2,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "up",
        "direction": 73.630805,
        "energy": 68.163633,
        "activity_lines": [
          11778.923503,
          11398.684251,
          11227.702958,
          11217.754219
        ]
      },
      {
        "date": "2025-05-02",
        "close": 11539.852539,
        "volume": 1853106,
        "typical_volume": 1627645.65,
        "trend": 11202.669531,
        "fair_value": 8848.672686,
        "relative_strength": 1.730897,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 58.428654,
        "energy": 58.583192,
        "activity_lines": [
          11740.245443,
          11474.281499,
          11258.422554,
          11239.855759
        ]
      },
      {
        "date": "2025-05-09",
        "close": 11292.420898,
        "volume": 1225389,
        "typical_volume": 1631688.3,
        "trend": 11200.771582,
        "fair_value": 8882.222885,
        "relative_strength": 0.765934,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 55.195078,
        "energy": 46.42523,
        "activity_lines": [
          11612.236914,
          11496.656996,
          11267.805487,
          11245.646169
        ]
      },
      {
        "date": "2025-05-16",
        "close": 11830.012695,
        "volume": 1250887,
        "typical_volume": 1668230.5,
        "trend": 11228.452767,
        "fair_value": 8919.64475,
        "relative_strength": 1.135973,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 60.760979,
        "energy": 39.088803,
        "activity_lines": [
          11672.345768,
          11594.453409,
          11328.665871,
          11286.24237
        ]
      },
      {
        "date": "2025-05-23",
        "close": 11672.014648,
        "volume": 817021,
        "typical_volume": 1658097.85,
        "trend": 11253.32181,
        "fair_value": 8957.186038,
        "relative_strength": 0.333014,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 52.15662,
        "energy": 27.569816,
        "activity_lines": [
          11653.134244,
          11639.627113,
          11372.120201,
          11314.859266
        ]
      },
      {
        "date": "2025-05-30",
        "close": 11139.390625,
        "volume": 1621935,
        "typical_volume": 1693105.2,
        "trend": 11255.44834,
        "fair_value": 8992.999975,
        "relative_strength": -3.909581,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 28.020186,
        "energy": 13.843769,
        "activity_lines": [
          11466.649609,
          11564.582795,
          11365.037709,
          11307.508867
        ]
      },
      {
        "date": "2025-06-06",
        "close": 11182.120117,
        "volume": 1344504,
        "typical_volume": 1679558.7,
        "trend": 11262.392676,
        "fair_value": 9030.139514,
        "relative_strength": -4.528016,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 24.267783,
        "energy": 12.807393,
        "activity_lines": [
          11362.443554,
          11493.09327,
          11360.393131,
          11302.778014
        ]
      },
      {
        "date": "2025-06-13",
        "close": 11153.302734,
        "volume": 1170781,
        "typical_volume": 1576484.75,
        "trend": 11278.805306,
        "fair_value": 9069.186117,
        "relative_strength": -3.590837,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": 0.242447,
        "energy": 9.150613,
        "activity_lines": [
          11272.480534,
          11420.999378,
          11349.819466,
          11295.739953
        ]
      },
      {
        "date": "2025-06-20",
        "close": 11385.828125,
        "volume": 1466987,
        "typical_volume": 1556537.5,
        "trend": 11281.544596,
        "fair_value": 9107.899417,
        "relative_strength": -3.144992,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": 3.576003,
        "energy": 11.837766,
        "activity_lines": [
          11269.300521,
          11396.14501,
          11361.683742,
          11302.644651
        ]
      },
      {
        "date": "2025-06-27",
        "close": 12136.073242,
        "volume": 2301608,
        "typical_volume": 1564865.05,
        "trend": 11315.027344,
        "fair_value": 9150.021807,
        "relative_strength": 1.149139,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "up",
        "direction": 60.440944,
        "energy": 26.204565,
        "activity_lines": [
          11545.814518,
          11508.505557,
          11445.139295,
          11357.775531
        ]
      },
      {
        "date": "2025-07-04",
        "close": 12427.227539,
        "volume": 1453641,
        "typical_volume": 1561231.2,
        "trend": 11336.805957,
        "fair_value": 9193.086736,
        "relative_strength": 4.237933,
        "stage": 2,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "up",
        "direction": 68.240035,
        "energy": 59.144759,
        "activity_lines": [
          11888.442708,
          11668.166246,
          11553.615281,
          11429.530383
        ]
      },
      {
        "date": "2025-07-11",
        "close": 12416.296875,
        "volume": 1258446,
        "typical_volume": 1571410.75,
        "trend": 11350.422982,
        "fair_value": 9236.282474,
        "relative_strength": 5.322579,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 69.093219,
        "energy": 73.538689,
        "activity_lines": [
          12141.571549,
          11820.979439,
          11655.172507,
          11499.174958
        ]
      },
      {
        "date": "2025-07-18",
        "close": 12419.27832,
        "volume": 853834,
        "typical_volume": 1442855.25,
        "trend": 11386.037272,
        "fair_value": 9275.413083,
        "relative_strength": 5.922088,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 67.151224,
        "energy": 77.985559,
        "activity_lines": [
          12313.415755,
          11958.399361,
          11750.683566,
          11568.133367
        ]
      },
      {
        "date": "2025-07-25",
        "close": 12250.0,
        "volume": 1706216,
        "typical_volume": 1419798.2,
        "trend": 11416.5472,
        "fair_value": 9312.918936,
        "relative_strength": 4.906912,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 62.953941,
        "energy": 74.858587,
        "activity_lines": [
          12344.435482,
          12044.553089,
          11818.860379,
          11623.872898
        ]
      },
      {
        "date": "2025-08-01",
        "close": 12113.0,
        "volume": 971183,
        "typical_volume": 1425075.3,
        "trend": 11429.921777,
        "fair_value": 9347.858777,
        "relative_strength": 4.794468,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 61.333463,
        "energy": 66.067564,
        "activity_lines": [
          12272.177083,
          12098.161594,
          11865.731213,
          11668.805336
        ]
      },
      {
        "date": "2025-08-08",
        "close": 12157.0,
        "volume": 1071297,
        "typical_volume": 1394287.55,
        "trend": 11475.263021,
        "fair_value": 9384.441603,
        "relative_strength": 5.88222,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 57.261833,
        "energy": 42.82629,
        "activity_lines": [
          12216.123568,
          12151.752184,
          11908.569968,
          11715.713609
        ]
      },
      {
        "date": "2025-08-15",
        "close": 12317.0,
        "volume": 995805,
        "typical_volume": 1337188.5,
        "trend": 11535.384375,
        "fair_value": 9421.493787,
        "relative_strength": 5.924069,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 60.339566,
        "energy": 40.07767,
        "activity_lines": [
          12231.418555,
          12215.931694,
          11960.69734,
          11770.01922
        ]
      },
      {
        "date": "2025-08-22",
        "close": 12589.0,
        "volume": 1833094,
        "typical_volume": 1367658.85,
        "trend": 11581.192285,
        "fair_value": 9461.111538,
        "relative_strength": 6.996336,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 69.058074,
        "energy": 45.080312,
        "activity_lines": [
          12344.0,
          12308.93157,
          12034.539253,
          11837.994422
        ]
      },
      {
        "date": "2025-08-29",
        "close": 12640.0,
        "volume": 951047,
        "typical_volume": 1331797.15,
        "trend": 11622.022493,
        "fair_value": 9500.675794,
        "relative_strength": 9.058108,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 69.257351,
        "energy": 53.027515,
        "activity_lines": [
          12462.266667,
          12385.100586,
          12107.701274,
          11906.304597
        ]
      },
      {
        "date": "2025-09-05",
        "close": 12601.0,
        "volume": 1027178,
        "typical_volume": 1337961.9,
        "trend": 11656.479883,
        "fair_value": 9538.690577,
        "relative_strength": 7.114586,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 64.490057,
        "energy": 60.188324,
        "activity_lines": [
          12541.533333,
          12431.375568,
          12171.388044,
          11969.464436
        ]
      },
      {
        "date": "2025-09-12",
        "close": 12370.0,
        "volume": 828004,
        "typical_volume": 1300098.15,
        "trend": 11695.716504,
        "fair_value": 9577.12983,
        "relative_strength": 3.449764,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 59.823299,
        "energy": 51.603005,
        "activity_lines": [
          12511.266667,
          12427.197337,
          12209.384519,
          12015.497992
        ]
      },
      {
        "date": "2025-09-19",
        "close": 12508.0,
        "volume": 1394641,
        "typical_volume": 1277174.9,
        "trend": 11743.084082,
        "fair_value": 9618.606032,
        "relative_strength": 3.55962,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 57.543419,
        "energy": 41.426027,
        "activity_lines": [
          12512.8,
          12449.150515,
          12259.523479,
          12067.903379
        ]
      },
      {
        "date": "2025-09-26",
        "close": 12070.0,
        "volume": 1523784,
        "typical_volume": 1292094.65,
        "trend": 11809.928971,
        "fair_value": 9656.548697,
        "relative_strength": 2.510158,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 38.203619,
        "energy": 23.964521,
        "activity_lines": [
          12355.6,
          12389.8,
          12263.337928,
          12088.994729
        ]
      },
      {
        "date": "2025-10-03",
        "close": 12019.0,
        "volume": 881900,
        "typical_volume": 1273645.3,
        "trend": 11860.0375,
        "fair_value": 9694.489699,
        "relative_strength": 0.981133,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 24.112519,
        "energy": 17.334078,
        "activity_lines": [
          12216.0,
          12327.527273,
          12258.592476,
          12102.483182
        ]
      },
      {
        "date": "2025-10-10",
        "close": 12281.0,
        "volume": 876008,
        "typical_volume": 1276594.65,
        "trend": 11923.195378,
        "fair_value": 9734.182677,
        "relative_strength": 1.459633,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 26.12893,
        "energy": 17.622734,
        "activity_lines": [
          12205.133333,
          12317.090909,
          12277.899465,
          12129.642053
        ]
      },
      {
        "date": "2025-10-17",
        "close": 12370.0,
        "volume": 670883,
        "typical_volume": 1229042.05,
        "trend": 11971.941732,
        "fair_value": 9773.3689,
        "relative_strength": 0.352052,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 28.548281,
        "energy": 18.136259,
        "activity_lines": [
          12245.266667,
          12319.781818,
          12302.782715,
          12158.468158
        ]
      },
      {
        "date": "2025-10-24",
        "close": 11918.0,
        "volume": 1097482,
        "typical_volume": 1216690.95,
        "trend": 11987.973275,
        "fair_value": 9809.134809,
        "relative_strength": -3.673873,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": -0.234429,
        "energy": 8.249465,
        "activity_lines": [
          12134.733333,
          12236.418182,
          12278.758301,
          12154.988046
        ]
      },
      {
        "date": "2025-10-31",
        "close": 11947.0,
        "volume": 1650574,
        "typical_volume": 1240680.6,
        "trend": 12005.332519,
        "fair_value": 9842.267685,
        "relative_strength": -3.199251,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 1.040996,
        "energy": 8.82653,
        "activity_lines": [
          12073.2,
          12165.581818,
          12253.991602,
          12152.344609
        ]
      },
      {
        "date": "2025-11-07",
        "close": 11849.0,
        "volume": 635571,
        "typical_volume": 1199109.8,
        "trend": 12019.292611,
        "fair_value": 9875.275688,
        "relative_strength": -3.168104,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Momentum cooling",
        "gate": "mixed",
        "direction": -21.95087,
        "energy": 25.072571,
        "activity_lines": [
          11987.2,
          12088.6,
          12216.112058,
          12142.25864
        ]
      },
      {
        "date": "2025-11-14",
        "close": 11874.0,
        "volume": 843204,
        "typical_volume": 1126189.6,
        "trend": 12020.891341,
        "fair_value": 9908.43607,
        "relative_strength": -4.548406,
        "stage": 3,
        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
        "direction": -20.157455,
        "energy": 35.099324,
        "activity_lines": [
          11920.866667,
          12030.545455,
          12178.407887,
          12132.884923
        ]
      },
      {
        "date": "2025-11-21",
        "close": 11729.0,
        "volume": 1161339,
        "typical_volume": 1111574.5,
        "trend": 12006.527279,
        "fair_value": 9940.291588,
        "relative_strength": -6.199899,
        "stage": 3,
        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
        "direction": -27.422893,
        "energy": 44.732076,
        "activity_lines": [
          11833.333333,
          11959.345455,
          12128.14216,
          12114.053224
        ]
      },
      {
        "date": "2025-11-28",
        "close": 11600.0,
        "volume": 1230207,
        "typical_volume": 1110162.55,
        "trend": 12008.532194,
        "fair_value": 9969.031691,
        "relative_strength": -7.639922,
        "stage": 3,
        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
        "direction": -43.428166,
        "energy": 53.676862,
        "activity_lines": [
          11745.533333,
          11876.345455,
          12068.915611,
          12087.825657
        ]
      },
      {
        "date": "2025-12-05",
        "close": 11597.0,
        "volume": 1012211,
        "typical_volume": 1118081.4,
        "trend": 12018.684831,
        "fair_value": 9998.758921,
        "relative_strength": -7.478523,
        "stage": 3,
        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
        "direction": -40.325879,
        "energy": 53.88173,
        "activity_lines": [
          11677.933333,
          11809.309091,
          12013.290476,
          12061.275193
        ]
      },
      {
        "date": "2025-12-12",
        "close": 11723.0,
        "volume": 1281579,
        "typical_volume": 1096849.55,
        "trend": 12015.117741,
        "fair_value": 10029.692852,
        "relative_strength": -5.840993,
        "stage": 3,
        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
        "direction": -32.925079,
        "energy": 46.679172,
        "activity_lines": [
          11675.666667,
          11773.781818,
          11973.580952,
          12042.198753
        ]
      },
      {
        "date": "2025-12-19",
        "close": 11496.0,
        "volume": 819518,
        "typical_volume": 1089266.3,
        "trend": 12009.250586,
        "fair_value": 10059.83164,
        "relative_strength": -7.234147,
        "stage": 3,
        "regime": "rotation_down",
        "modifier": "Structural failure",
        "gate": "down",
        "direction": -67.680621,
        "energy": 59.298112,
        "activity_lines": [
          11606.133333,
          11702.363636,
          11914.761905,
          12008.707285
        ]
      },
      {
        "date": "2025-12-26",
        "close": 11794.0,
        "volume": 707808,
        "typical_volume": 1071091.85,
        "trend": 12031.070898,
        "fair_value": 10091.567711,
        "relative_strength": -5.018424,
        "stage": 3,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -56.988551,
        "energy": 41.229588,
        "activity_lines": [
          11661.133333,
          11699.4,
          11887.261905,
          11994.820151
        ]
      },
      {
        "date": "2026-01-02",
        "close": 11899.0,
        "volume": 884321,
        "typical_volume": 1065517.65,
        "trend": 12054.966894,
        "fair_value": 10123.830933,
        "relative_strength": -5.077038,
        "stage": 3,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -41.928263,
        "energy": 26.167991,
        "activity_lines": [
          11746.8,
          11726.0,
          11871.490476,
          11986.299448
        ]
      },
      {
        "date": "2026-01-09",
        "close": 11937.0,
        "volume": 1268402,
        "typical_volume": 1037283.05,
        "trend": 12081.090137,
        "fair_value": 10154.656594,
        "relative_strength": -2.397257,
        "stage": 3,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -36.210905,
        "energy": 19.034337,
        "activity_lines": [
          11825.2,
          11759.854545,
          11861.328571,
          11978.68868
        ]
      },
      {
        "date": "2026-01-16",
        "close": 12378.0,
        "volume": 1429375,
        "typical_volume": 1061199.45,
        "trend": 12114.162533,
        "fair_value": 10188.761462,
        "relative_strength": 1.048178,
        "stage": 3,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -2.264863,
        "energy": 15.287358,
        "activity_lines": [
          12027.933333,
          11874.072727,
          11896.271429,
          11997.844155
        ]
      },
      {
        "date": "2026-01-23",
        "close": 12369.0,
        "volume": 1407678,
        "typical_volume": 1080224.45,
        "trend": 12121.926758,
        "fair_value": 10225.718021,
        "relative_strength": 3.543583,
        "stage": 3,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "mixed",
        "direction": 25.238176,
        "energy": 30.133335,
        "activity_lines": [
          12184.0,
          11977.036364,
          11931.604762,
          12014.285282
        ]
      },
      {
        "date": "2026-01-30",
        "close": 12694.0,
        "volume": 1965358,
        "typical_volume": 1137092.15,
        "trend": 12130.819173,
        "fair_value": 10261.772564,
        "relative_strength": 5.055972,
        "stage": 3,
        "regime": "rotation_up",
        "modifier": "Structural repair",
        "gate": "mixed",
        "direction": 39.110034,
        "energy": 51.951256,
        "activity_lines": [
          12390.2,
          12130.090909,
          11998.995238,
          12051.193233
        ]
      },
      {
        "date": "2026-02-06",
        "close": 12722.0,
        "volume": 1013478,
        "typical_volume": 1118034.0,
        "trend": 12141.009277,
        "fair_value": 10297.900384,
        "relative_strength": 3.741592,
        "stage": 2,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "mixed",
        "direction": 35.234469,
        "energy": 57.987299,
        "activity_lines": [
          12545.733333,
          12270.690909,
          12067.509524,
          12089.333932
        ]
      },
      {
        "date": "2026-02-13",
        "close": 12963.0,
        "volume": 852880,
        "typical_volume": 1084488.8,
        "trend": 12159.133333,
        "fair_value": 10334.994413,
        "relative_strength": 6.541426,
        "stage": 2,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "mixed",
        "direction": 50.006027,
        "energy": 69.291203,
        "activity_lines": [
          12726.733333,
          12434.709091,
          12157.957143,
          12142.365591
        ]
      },
      {
        "date": "2026-02-20",
        "close": 12766.0,
        "volume": 695437,
        "typical_volume": 1075165.65,
        "trend": 12176.333333,
        "fair_value": 10371.337152,
        "relative_strength": 4.457234,
        "stage": 2,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "up",
        "direction": 64.220227,
        "energy": 71.298115,
        "activity_lines": [
          12773.666667,
          12538.072727,
          12225.390476,
          12181.51828
        ]
      },
      {
        "date": "2026-02-27",
        "close": 12677.0,
        "volume": 1150312,
        "typical_volume": 1088880.85,
        "trend": 12195.133333,
        "fair_value": 10407.114104,
        "relative_strength": 5.140888,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 61.287142,
        "energy": 55.77924,
        "activity_lines": [
          12765.066667,
          12606.290909,
          12280.790476,
          12213.819355
        ]
      },
      {
        "date": "2026-03-06",
        "close": 11987.0,
        "volume": 1213748,
        "typical_volume": 1116024.1,
        "trend": 12189.466667,
        "fair_value": 10438.402112,
        "relative_strength": 2.280598,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 32.167047,
        "energy": 25.0774,
        "activity_lines": [
          12505.933333,
          12527.581818,
          12268.590476,
          12200.391398
        ]
      },
      {
        "date": "2026-03-13",
        "close": 10616.0,
        "volume": 2542400,
        "typical_volume": 1188270.0,
        "trend": 12132.766667,
        "fair_value": 10460.501067,
        "relative_strength": -4.313844,
        "stage": 4,
        "regime": "rotation_down",
        "modifier": "Structural failure",
        "gate": "mixed",
        "direction": -38.243476,
        "energy": 33.365507,
        "activity_lines": [
          11836.933333,
          12196.090909,
          12127.642857,
          12098.877419
        ]
      },
      {
        "date": "2026-03-20",
        "close": 10934.0,
        "volume": 1922606,
        "typical_volume": 1201871.6,
        "trend": 12077.6,
        "fair_value": 10483.909164,
        "relative_strength": -1.314938,
        "stage": 4,
        "regime": "rotation_down",
        "modifier": "Structural failure",
        "gate": "down",
        "direction": -66.239374,
        "energy": 53.347931,
        "activity_lines": [
          11414.333333,
          11945.745455,
          12023.180952,
          12021.537634
        ]
      },
      {
        "date": "2026-03-27",
        "close": 11049.0,
        "volume": 1888939,
        "typical_volume": 1264540.0,
        "trend": 12024.566667,
        "fair_value": 10506.689732,
        "relative_strength": 1.020215,
        "stage": 4,
        "regime": "rotation_down",
        "modifier": "Structural failure",
        "gate": "down",
        "direction": -67.644216,
        "energy": 61.994764,
        "activity_lines": [
          11165.333333,
          11734.545455,
          11934.495238,
          11955.176344
        ]
      },
      {
        "date": "2026-04-03",
        "close": 10620.0,
        "volume": 1397425,
        "typical_volume": 1292251.05,
        "trend": 11958.533333,
        "fair_value": 10526.217908,
        "relative_strength": -2.324178,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -75.535408,
        "energy": 81.794042,
        "activity_lines": [
          10887.8,
          11469.509091,
          11808.761905,
          11864.55914
        ]
      },
      {
        "date": "2026-04-10",
        "close": 11589.0,
        "volume": 2001734,
        "typical_volume": 1334270.8,
        "trend": 11932.5,
        "fair_value": 10552.251365,
        "relative_strength": 0.736722,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -62.239268,
        "energy": 64.279308,
        "activity_lines": [
          11070.4,
          11412.454545,
          11781.285714,
          11840.71828
        ]
      },
      {
        "date": "2026-04-17",
        "close": 11886.0,
        "volume": 968911,
        "typical_volume": 1321206.0,
        "trend": 11911.766667,
        "fair_value": 10582.059239,
        "relative_strength": 2.064952,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -51.834474,
        "energy": 33.607979,
        "activity_lines": [
          11378.533333,
          11429.490909,
          11782.761905,
          11837.71828
        ]
      },
      {
        "date": "2026-04-24",
        "close": 11998.0,
        "volume": 1544851,
        "typical_volume": 1347838.0,
        "trend": 11909.366667,
        "fair_value": 10611.338855,
        "relative_strength": 5.006818,
        "stage": 3,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -29.39384,
        "energy": 15.139749,
        "activity_lines": [
          11639.333333,
          11482.090909,
          11793.542857,
          11843.28172
        ]
      },
      {
        "date": "2026-05-01",
        "close": 11586.0,
        "volume": 2158543,
        "typical_volume": 1391686.2,
        "trend": 11894.933333,
        "fair_value": 10637.519816,
        "relative_strength": 0.944312,
        "stage": 3,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -28.43714,
        "energy": 21.407466,
        "activity_lines": [
          11691.866667,
          11477.327273,
          11763.17619,
          11822.419355
        ]
      },
      {
        "date": "2026-05-08",
        "close": 11950.0,
        "volume": 1652755,
        "typical_volume": 1433348.05,
        "trend": 11883.9,
        "fair_value": 10665.566697,
        "relative_strength": 3.247221,
        "stage": 3,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -18.640562,
        "energy": 18.59618,
        "activity_lines": [
          11829.933333,
          11560.2,
          11768.128571,
          11825.972043
        ]
      },
      {
        "date": "2026-05-15",
        "close": 11487.0,
        "volume": 1501190,
        "typical_volume": 1473017.15,
        "trend": 11854.466667,
        "fair_value": 10690.782108,
        "relative_strength": 1.429775,
        "stage": 3,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -27.986266,
        "energy": 16.576257,
        "activity_lines": [
          11725.0,
          11572.109091,
          11726.82381,
          11800.365591
        ]
      },
      {
        "date": "2026-05-22",
        "close": 11569.0,
        "volume": 1335091,
        "typical_volume": 1495555.65,
        "trend": 11842.833333,
        "fair_value": 10716.267547,
        "relative_strength": 1.753403,
        "stage": 3,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -29.690056,
        "energy": 12.694575,
        "activity_lines": [
          11654.2,
          11608.018182,
          11694.790476,
          11781.948387
        ]
      },
      {
        "date": "2026-05-29",
        "close": 11482.0,
        "volume": 2460937,
        "typical_volume": 1555182.4,
        "trend": 11827.333333,
        "fair_value": 10740.383404,
        "relative_strength": 1.570952,
        "stage": 3,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -43.988018,
        "energy": 19.201491,
        "activity_lines": [
          11575.533333,
          11610.781818,
          11656.042857,
          11758.668817
        ]
      },
      {
        "date": "2026-06-05",
        "close": 10912.0,
        "volume": 424664,
        "typical_volume": 1504946.85,
        "trend": 11796.1,
        "fair_value": 10758.937966,
        "relative_strength": -2.800336,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -62.798479,
        "energy": 40.569916,
        "activity_lines": [
          11341.266667,
          11499.945455,
          11565.17619,
          11699.615054
        ]
      },
      {
        "date": "2026-06-12",
        "close": 11117.0,
        "volume": 192524,
        "typical_volume": 1444189.15,
        "trend": 11770.866667,
        "fair_value": 10777.672003,
        "relative_strength": -2.124229,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -57.291111,
        "energy": 50.693807,
        "activity_lines": [
          11220.266667,
          11428.872727,
          11500.814286,
          11655.802151
        ]
      },
      {
        "date": "2026-06-19",
        "close": 11367.0,
        "volume": 403613,
        "typical_volume": 1366101.9,
        "trend": 11758.8,
        "fair_value": 10799.603707,
        "relative_strength": -1.627961,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -54.556661,
        "energy": 50.227781,
        "activity_lines": [
          11238.133333,
          11394.218182,
          11466.22381,
          11629.746237
        ]
      },
      {
        "date": "2026-06-26",
        "close": 11259.181641,
        "volume": 0,
        "typical_volume": 1315428.0,
        "trend": 11747.439388,
        "fair_value": 10819.491846,
        "relative_strength": -2.714102,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -54.132134,
        "energy": 51.664751,
        "activity_lines": [
          11228.060547,
          11343.996662,
          11427.683966,
          11597.512794
        ]
      },
      {
        "date": "2026-07-03",
        "close": 11488.500977,
        "volume": 157877,
        "typical_volume": 1280677.85,
        "trend": 11743.822754,
        "fair_value": 10840.587124,
        "relative_strength": -1.553364,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -48.649721,
        "energy": 28.662201,
        "activity_lines": [
          11315.082097,
          11346.866264,
          11417.949861,
          11580.80709
        ]
      },
      {
        "date": "2026-07-10",
        "close": 11476.741211,
        "volume": 820834,
        "typical_volume": 1286947.7,
        "trend": 11735.614128,
        "fair_value": 10862.577133,
        "relative_strength": -1.317037,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -34.521731,
        "energy": 17.280116,
        "activity_lines": [
          11397.750326,
          11356.861346,
          11414.117202,
          11563.576023
        ]
      },
      {
        "date": "2026-07-17",
        "close": 11492.420898,
        "volume": 1412788,
        "typical_volume": 1300071.5,
        "trend": 11735.494824,
        "fair_value": 10885.066976,
        "relative_strength": -1.600599,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -30.789769,
        "energy": 15.231181,
        "activity_lines": [
          11447.995703,
          11371.693803,
          11417.917174,
          11547.886137
        ]
      },
      {
        "date": "2026-07-24",
        "close": 11609.041016,
        "volume": 2214793,
        "typical_volume": 1350123.75,
        "trend": 11729.329525,
        "fair_value": 10906.882844,
        "relative_strength": 1.788013,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -20.501244,
        "energy": 14.718104,
        "activity_lines": [
          11512.086393,
          11416.049538,
          11438.464676,
          11539.727827
        ]
      },
      {
        "date": "2026-07-31",
        "close": 11863.0,
        "volume": 1586183,
        "typical_volume": 1302312.9,
        "trend": 11728.129525,
        "fair_value": 10931.267641,
        "relative_strength": 1.413103,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": 3.057455,
        "energy": 13.207585,
        "activity_lines": [
          11644.69401,
          11504.360707,
          11484.998554,
          11548.351728
        ]
      },
      {
        "date": "2026-08-07",
        "close": 12105.0,
        "volume": 881058,
        "typical_volume": 1250235.5,
        "trend": 11733.729525,
        "fair_value": 10957.363294,
        "relative_strength": 2.720155,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": 32.971863,
        "energy": 39.948992,
        "activity_lines": [
          11817.713737,
          11631.326421,
          11548.641955,
          11572.665953
        ]
      }
    ],
    "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."
    }
  }
}