{ "ticker": { "uuid": "e5fb3248-d50d-4db7-ac3d-55bcea77279b", "symbol": "UDN", "name": "INVESCO DB US DLR INDEX TR BEARISH FD ETF", "exchange": "NYSEARCA", "country": "US", "assetType": "etf" }, "methodBoundary": "Trend Architecture is a weekly structural classification, not a forecast, probability of return, recommendation or execution signal. Confidence measures geometric agreement and external confirmation only.", "analysis": { "eligible": true, "as_of": "2026-08-07", "benchmark": "SPY", "stage": 3, "stage_name": "Distribution", "phase": "3a", "phase_label": "Stage 3A \u00b7 Churning", "transition": "stage_3_churning", "transition_label": "Stage 3 range intact", "confidence": 67.86, "architecture_regime": "downward_expansion", "architecture_regime_label": "Downward Expansion", "architecture_modifier": "Early contraction", "architecture_gate": "down", "architecture_direction": -17.159, "architecture_energy": 15.63, "architecture_maturity": 58.424, "architecture_confidence": 81.441, "architecture_tenure": "Developing", "architecture": { "interpretation": { "headline": "The weekly architecture is expanding downward.", "body": "Trend and Activity show sustained negative alignment with weak price acceptance. Repair requires persistent improvement across the structure, not merely one strong observation." }, "scores": { "balance": 41.72, "rotation_up": 35.69, "upward_expansion": 22.75, "deceleration": 40.95, "rotation_down": 25.35, "downward_expansion": 59.08 }, "activity_lines": [ 18.054, 17.995091, 18.054333, 18.09357 ], "activity_state": "Compressed", "activity_direction": "Contracting", "rotation_direction": "Improving", "price_acceptance": -0.166667 }, "latest_close": 18.2, "trend_reference": 18.157, "distance_from_trend": 0.002368, "trend_direction": "Weakening", "fair_value": 17.305884, "distance_from_fair_value": 0.051665, "fair_value_direction": "Weakening", "relative_strength": -10.783713, "relative_strength_direction": "Weakening", "price_momentum": -0.010332, "excess_performance": -0.135957, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.002368, "read": "Above" }, { "label": "Trend direction", "positive": false, "value": -0.002129, "read": "Falling" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.051665, "read": "Premium" }, { "label": "Fair Value direction", "positive": false, "value": -0.019709, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.107837, "read": "Lagging" }, { "label": "Relative strength direction", "positive": false, "value": -0.007317, "read": "Weakening" }, { "label": "Price momentum", "positive": false, "value": -0.010332, "read": "Negative" }, { "label": "Volume balance", "positive": true, "value": 1.120465, "read": "Demand-led" } ], "volume": { "latest": 396377, "relative_activity": 0.642359, "balance": 1.120465, "dry_up": 0.67245, "accumulation_observations": 2, "distribution_observations": 2 }, "risk": { "range_context": 0.009573, "annualized_volatility": 0.060776, "from_high_reference": -0.030368, "from_low_reference": 0.025352 }, "levels": { "trend_reference": 18.157, "fair_value_reference": 17.305884, "structural_low": 17.75, "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": 25, "median_return": 0.000561, "positive_rate": 0.56, "directional_follow_through": 0.44, "median_excess_return": -0.007038, "regime_survival": 0.88, "best_return": 0.045402, "worst_return": -0.044287, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 8, "median_return": -0.022352, "positive_rate": 0.375, "directional_follow_through": 0.625, "median_excess_return": 0.001383, "regime_survival": 0.625, "best_return": 0.089167, "worst_return": -0.069695, "sufficient": true }, { "horizon": "Extended", "sample_count": 5, "median_return": 0.029329, "positive_rate": 0.6, "directional_follow_through": 0.4, "median_excess_return": 0.022053, "regime_survival": 0.4, "best_return": 0.120977, "worst_return": -0.108583, "sufficient": true }, { "horizon": "Full cycle", "sample_count": 4, "median_return": 0.06134, "positive_rate": 0.75, "directional_follow_through": 0.25, "median_excess_return": -0.070837, "regime_survival": 0.25, "best_return": 0.121973, "worst_return": -0.147991, "sufficient": false } ], "ledger": [ { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2024-08-09", "end": "2024-10-18", "tenure": "Developing", "return": -0.001083, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2024-10-25", "end": "2024-11-08", "tenure": "New", "return": -0.006018, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2024-11-15", "end": "2024-12-20", "tenure": "Developing", "return": -0.007295, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2024-12-27", "end": "2025-03-07", "tenure": "Developing", "return": 0.049464, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2025-03-14", "end": "2025-04-18", "tenure": "Developing", "return": 0.04548, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-04-25", "end": "2025-10-17", "tenure": "Established", "return": 0.018539, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-10-24", "end": "2025-11-07", "tenure": "New", "return": -0.006448, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2025-11-14", "end": "2025-12-05", "tenure": "New", "return": 0.004852, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-12-12", "end": "2026-01-30", "tenure": "Developing", "return": 0.014522, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-02-06", "end": "2026-03-06", "tenure": "Developing", "return": -0.013051, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-03-13", "end": "2026-03-20", "tenure": "New", "return": 0.008939, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2026-03-27", "end": "2026-06-05", "tenure": "Developing", "return": 0.003339, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-06-12", "end": "2026-06-19", "tenure": "New", "return": -0.009945, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2026-06-26", "end": "2026-08-07", "tenure": "Developing", "return": 0.021324, "active": true } ], "chart_path": [ { "date": "2023-08-18", "close": 16.482433, "volume": 215931, "typical_volume": 556620.55, "trend": 16.459796, "fair_value": 17.231421, "relative_strength": -5.415839, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 24.190959, "energy": 15.650434, "activity_lines": [ 16.595178, 16.649958, 16.589357, 16.538956 ] }, { "date": "2023-08-25", "close": 16.342231, "volume": 350553, "typical_volume": 530309.9, "trend": 16.455123, "fair_value": 17.217532, "relative_strength": -6.893966, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 2.289786, "energy": 17.525552, "activity_lines": [ 16.490611, 16.595391, 16.567889, 16.531371 ] }, { "date": "2023-09-01", "close": 16.350994, "volume": 400536, "typical_volume": 501171.15, "trend": 16.456583, "fair_value": 17.204201, "relative_strength": -9.017228, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -25.429084, "energy": 30.708079, "activity_lines": [ 16.421095, 16.546718, 16.548298, 16.524653 ] }, { "date": "2023-09-08", "close": 16.228318, "volume": 310182, "typical_volume": 498865.25, "trend": 16.456583, "fair_value": 17.190642, "relative_strength": -8.462081, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -35.582214, "energy": 45.453964, "activity_lines": [ 16.337558, 16.477972, 16.51836, 16.509927 ] }, { "date": "2023-09-15", "close": 16.20203, "volume": 392538, "typical_volume": 483223.4, "trend": 16.456875, "fair_value": 17.176747, "relative_strength": -8.335837, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -45.50069, "energy": 61.769083, "activity_lines": [ 16.27622, 16.409066, 16.487753, 16.493504 ] }, { "date": "2023-09-22", "close": 16.175742, "volume": 326706, "typical_volume": 446289.8, "trend": 16.462717, "fair_value": 17.164803, "relative_strength": -5.574887, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -44.070707, "energy": 64.146097, "activity_lines": [ 16.227734, 16.34255, 16.456771, 16.475366 ] }, { "date": "2023-09-29", "close": 16.096879, "volume": 702899, "typical_volume": 442015.1, "trend": 16.462133, "fair_value": 17.151405, "relative_strength": -5.17401, "stage": 3, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -74.726072, "energy": 76.881656, "activity_lines": [ 16.173406, 16.27691, 16.420531, 16.451764 ] }, { "date": "2023-10-06", "close": 16.123167, "volume": 397471, "typical_volume": 424641.85, "trend": 16.463301, "fair_value": 17.13706, "relative_strength": -5.29295, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -68.078262, "energy": 71.923546, "activity_lines": [ 16.144197, 16.229274, 16.38859, 16.429895 ] }, { "date": "2023-10-13", "close": 16.035541, "volume": 413231, "typical_volume": 405308.75, "trend": 16.456875, "fair_value": 17.123046, "relative_strength": -6.018399, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -75.095346, "energy": 77.779198, "activity_lines": [ 16.100968, 16.177176, 16.34968, 16.402298 ] }, { "date": "2023-10-20", "close": 16.105641, "volume": 163094, "typical_volume": 390328.75, "trend": 16.448697, "fair_value": 17.108226, "relative_strength": -3.184666, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -64.93986, "energy": 71.340163, "activity_lines": [ 16.093958, 16.149773, 16.318572, 16.379637 ] }, { "date": "2023-10-27", "close": 16.083735, "volume": 171706, "typical_volume": 380071.55, "trend": 16.436575, "fair_value": 17.094939, "relative_strength": -0.823851, "stage": 1, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -63.944025, "energy": 59.644788, "activity_lines": [ 16.086072, 16.126034, 16.286297, 16.356091 ] }, { "date": "2023-11-03", "close": 16.324706, "volume": 260350, "typical_volume": 369022.4, "trend": 16.428689, "fair_value": 17.080938, "relative_strength": -4.746328, "stage": 1, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -48.087651, "energy": 35.817963, "activity_lines": [ 16.164643, 16.153358, 16.278327, 16.348874 ] }, { "date": "2023-11-10", "close": 16.21088, "volume": 452160, "typical_volume": 376224.4, "trend": 16.414672, "fair_value": 17.066793, "relative_strength": -6.524155, "stage": 1, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -42.459888, "energy": 26.740589, "activity_lines": [ 16.190083, 16.160304, 16.260727, 16.334822 ] }, { "date": "2023-11-17", "close": 16.535008, "volume": 342782, "typical_volume": 372499.85, "trend": 16.412043, "fair_value": 17.054307, "relative_strength": -6.647635, "stage": 1, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -7.855035, "energy": 16.082582, "activity_lines": [ 16.317719, 16.22873, 16.275247, 16.342585 ] }, { "date": "2023-11-24", "close": 16.612995, "volume": 332600, "typical_volume": 382104.05, "trend": 16.410845, "fair_value": 17.041652, "relative_strength": -6.97796, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "mixed", "direction": 32.258587, "energy": 34.818093, "activity_lines": [ 16.438053, 16.30576, 16.296945, 16.35555 ] }, { "date": "2023-12-01", "close": 16.67521, "volume": 589532, "typical_volume": 381134.2, "trend": 16.411722, "fair_value": 17.028112, "relative_strength": -7.234309, "stage": 3, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 36.508194, "energy": 46.968313, "activity_lines": [ 16.545301, 16.386629, 16.324488, 16.372606 ] }, { "date": "2023-12-08", "close": 16.543771, "volume": 350924, "typical_volume": 365059.55, "trend": 16.414058, "fair_value": 17.014009, "relative_strength": -7.944919, "stage": 3, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 24.337923, "energy": 48.670938, "activity_lines": [ 16.569305, 16.434519, 16.34112, 16.381125 ] }, { "date": "2023-12-15", "close": 16.789124, "volume": 616365, "typical_volume": 370387.95, "trend": 16.426618, "fair_value": 17.000196, "relative_strength": -8.470368, "stage": 3, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 40.349685, "energy": 64.385625, "activity_lines": [ 16.660489, 16.518893, 16.382454, 16.405323 ] }, { "date": "2023-12-22", "close": 16.929118, "volume": 416972, "typical_volume": 372741.95, "trend": 16.448518, "fair_value": 16.987726, "relative_strength": -8.236623, "stage": 3, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 45.823332, "energy": 68.172056, "activity_lines": [ 16.759788, 16.616613, 16.436954, 16.437742 ] }, { "date": "2023-12-29", "close": 17.002924, "volume": 294354, "typical_volume": 375044.3, "trend": 16.472001, "fair_value": 16.975284, "relative_strength": -7.827795, "stage": 3, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "up", "direction": 81.059269, "energy": 82.82723, "activity_lines": [ 16.857414, 16.711504, 16.497357, 16.47351 ] }, { "date": "2024-01-05", "close": 16.836862, "volume": 421587, "typical_volume": 385327.1, "trend": 16.487613, "fair_value": 16.961832, "relative_strength": -6.998714, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 64.995793, "energy": 76.732705, "activity_lines": [ 16.873692, 16.759889, 16.539675, 16.49705 ] }, { "date": "2024-01-12", "close": 16.827636, "volume": 220543, "typical_volume": 378826.6, "trend": 16.495906, "fair_value": 16.949437, "relative_strength": -8.457376, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 63.015596, "energy": 71.272581, "activity_lines": [ 16.876117, 16.792903, 16.579427, 16.518987 ] }, { "date": "2024-01-19", "close": 16.698476, "volume": 255365, "typical_volume": 371568.05, "trend": 16.5034, "fair_value": 16.935433, "relative_strength": -9.898577, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 59.623314, "energy": 47.426789, "activity_lines": [ 16.816565, 16.793289, 16.604566, 16.532056 ] }, { "date": "2024-01-26", "close": 16.670799, "volume": 221573, "typical_volume": 367137.6, "trend": 16.509679, "fair_value": 16.921865, "relative_strength": -10.651729, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 43.643157, "energy": 30.757402, "activity_lines": [ 16.75383, 16.779777, 16.625415, 16.542856 ] }, { "date": "2024-02-02", "close": 16.60622, "volume": 274085, "typical_volume": 361214.95, "trend": 16.510008, "fair_value": 16.908386, "relative_strength": -11.957151, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 36.919412, "energy": 23.523747, "activity_lines": [ 16.686791, 16.752055, 16.638006, 16.549084 ] }, { "date": "2024-02-09", "close": 16.569317, "volume": 135962, "typical_volume": 351677.75, "trend": 16.495233, "fair_value": 16.894, "relative_strength": -13.03252, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 29.625501, "energy": 25.720896, "activity_lines": [ 16.633897, 16.717747, 16.645158, 16.552911 ] }, { "date": "2024-02-16", "close": 16.563781, "volume": 112865, "typical_volume": 322176.05, "trend": 16.486553, "fair_value": 16.879412, "relative_strength": -12.448084, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 25.759728, "energy": 25.031528, "activity_lines": [ 16.596994, 16.684357, 16.649908, 16.557333 ] }, { "date": "2024-02-23", "close": 16.624671, "volume": 119749, "typical_volume": 308289.95, "trend": 16.48224, "fair_value": 16.866106, "relative_strength": -13.205778, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 24.547037, "energy": 22.041373, "activity_lines": [ 16.597978, 16.661674, 16.658235, 16.566244 ] }, { "date": "2024-03-01", "close": 16.652348, "volume": 254512, "typical_volume": 300354.0, "trend": 16.480893, "fair_value": 16.854317, "relative_strength": -13.555899, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 16.31408, "energy": 15.559666, "activity_lines": [ 16.613108, 16.647014, 16.666809, 16.577219 ] }, { "date": "2024-03-08", "close": 16.859741, "volume": 200541, "typical_volume": 302226.35, "trend": 16.49201, "fair_value": 16.843355, "relative_strength": -11.862781, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 53.229825, "energy": 28.307044, "activity_lines": [ 16.698599, 16.675093, 16.692197, 16.60166 ] }, { "date": "2024-03-15", "close": 16.75383, "volume": 148741, "typical_volume": 301078.1, "trend": 16.501057, "fair_value": 16.832272, "relative_strength": -11.943379, "stage": 3, "regime": "deceleration", "modifier": "Re-acceleration watch", "gate": "up", "direction": 43.504284, "energy": 33.620425, "activity_lines": [ 16.731885, 16.68652, 16.703908, 16.618552 ] }, { "date": "2024-03-22", "close": 16.595241, "volume": 174225, "typical_volume": 296771.85, "trend": 16.50949, "fair_value": 16.82112, "relative_strength": -14.2359, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 31.181393, "energy": 24.689789, "activity_lines": [ 16.700008, 16.670621, 16.697324, 16.624629 ] }, { "date": "2024-03-29", "close": 16.596994, "volume": 72084, "typical_volume": 277768.05, "trend": 16.51769, "fair_value": 16.810203, "relative_strength": -14.130155, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 25.387162, "energy": 19.308576, "activity_lines": [ 16.666617, 16.659267, 16.689619, 16.630274 ] }, { "date": "2024-04-05", "close": 16.642846, "volume": 396939, "typical_volume": 280475.9, "trend": 16.531508, "fair_value": 16.798687, "relative_strength": -12.715214, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 16.242052, "energy": 10.26362, "activity_lines": [ 16.650355, 16.658095, 16.684442, 16.638349 ] }, { "date": "2024-04-12", "close": 16.366075, "volume": 184921, "typical_volume": 273091.95, "trend": 16.536976, "fair_value": 16.784561, "relative_strength": -12.48716, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -16.743716, "energy": 24.421882, "activity_lines": [ 16.54247, 16.607109, 16.652393, 16.627675 ] }, { "date": "2024-04-19", "close": 16.348823, "volume": 157586, "typical_volume": 251494.65, "trend": 16.542745, "fair_value": 16.76932, "relative_strength": -9.434673, "stage": 3, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -37.263838, "energy": 54.423514, "activity_lines": [ 16.461745, 16.557352, 16.619876, 16.615537 ] }, { "date": "2024-04-26", "close": 16.375578, "volume": 109174, "typical_volume": 239407.15, "trend": 16.552035, "fair_value": 16.754975, "relative_strength": -11.231559, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -41.727327, "energy": 62.161217, "activity_lines": [ 16.41694, 16.516469, 16.591461, 16.604752 ] }, { "date": "2024-05-03", "close": 16.560091, "volume": 75696, "typical_volume": 212373.7, "trend": 16.566599, "fair_value": 16.740363, "relative_strength": -10.357379, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -32.462336, "energy": 54.335716, "activity_lines": [ 16.448282, 16.512555, 16.581421, 16.605271 ] }, { "date": "2024-05-10", "close": 16.513963, "volume": 230232, "typical_volume": 203036.7, "trend": 16.582547, "fair_value": 16.725567, "relative_strength": -11.828443, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -27.740991, "energy": 34.32478, "activity_lines": [ 16.466709, 16.501429, 16.568077, 16.601875 ] }, { "date": "2024-05-17", "close": 16.670799, "volume": 236058, "typical_volume": 200121.9, "trend": 16.601385, "fair_value": 16.711441, "relative_strength": -12.048624, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": 0.253302, "energy": 4.846223, "activity_lines": [ 16.546007, 16.521335, 16.571647, 16.607569 ] }, { "date": "2024-05-24", "close": 16.633897, "volume": 75996, "typical_volume": 182842.35, "trend": 16.619724, "fair_value": 16.697125, "relative_strength": -11.868236, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -22.60017, "energy": 19.305175, "activity_lines": [ 16.592689, 16.537966, 16.573285, 16.609667 ] }, { "date": "2024-05-31", "close": 16.653271, "volume": 148874, "typical_volume": 179258.9, "trend": 16.630676, "fair_value": 16.682999, "relative_strength": -11.08039, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -16.410428, "energy": 18.332133, "activity_lines": [ 16.626824, 16.560301, 16.577734, 16.611831 ] }, { "date": "2024-06-07", "close": 16.638509, "volume": 140857, "typical_volume": 173533.5, "trend": 16.644931, "fair_value": 16.669447, "relative_strength": -11.907431, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -14.839803, "energy": 19.681457, "activity_lines": [ 16.637525, 16.578897, 16.581607, 16.612336 ] }, { "date": "2024-06-14", "close": 16.54164, "volume": 237334, "typical_volume": 174321.55, "trend": 16.645152, "fair_value": 16.657673, "relative_strength": -13.475153, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -15.816348, "energy": 12.546477, "activity_lines": [ 16.610709, 16.579125, 16.576541, 16.605672 ] }, { "date": "2024-06-21", "close": 16.50935, "volume": 86385, "typical_volume": 164936.55, "trend": 16.641697, "fair_value": 16.645081, "relative_strength": -13.808989, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -33.658389, "energy": 13.27298, "activity_lines": [ 16.571285, 16.575322, 16.569014, 16.596911 ] }, { "date": "2024-06-28", "close": 16.50935, "volume": 287680, "typical_volume": 172522.45, "trend": 16.636168, "fair_value": 16.633156, "relative_strength": -13.4142, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -35.89663, "energy": 19.75543, "activity_lines": [ 16.542624, 16.568914, 16.561948, 16.588372 ] }, { "date": "2024-07-05", "close": 16.675412, "volume": 190996, "typical_volume": 176429.0, "trend": 16.640556, "fair_value": 16.622072, "relative_strength": -13.793063, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -17.266012, "energy": 10.521306, "activity_lines": [ 16.57762, 16.589781, 16.570984, 16.590904 ] }, { "date": "2024-07-12", "close": 16.814166, "volume": 122385, "typical_volume": 176560.8, "trend": 16.641391, "fair_value": 16.61277, "relative_strength": -13.506863, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 26.904773, "energy": 26.220152, "activity_lines": [ 16.657391, 16.630424, 16.592702, 16.602105 ] }, { "date": "2024-07-19", "close": 16.781507, "volume": 137406, "typical_volume": 170705.5, "trend": 16.636471, "fair_value": 16.603538, "relative_strength": -11.594428, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 22.81078, "energy": 40.859001, "activity_lines": [ 16.714566, 16.66051, 16.610408, 16.611145 ] }, { "date": "2024-07-26", "close": 16.815827, "volume": 119058, "typical_volume": 166631.35, "trend": 16.630234, "fair_value": 16.59341, "relative_strength": -10.35937, "stage": 3, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 36.592535, "energy": 55.505375, "activity_lines": [ 16.767189, 16.691971, 16.630767, 16.622716 ] }, { "date": "2024-08-02", "close": 16.993698, "volume": 373162, "typical_volume": 177852.4, "trend": 16.635462, "fair_value": 16.585371, "relative_strength": -7.138708, "stage": 3, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "up", "direction": 79.85442, "energy": 79.066001, "activity_lines": [ 16.858671, 16.753136, 16.668276, 16.646165 ] }, { "date": "2024-08-09", "close": 17.030601, "volume": 283503, "typical_volume": 183316.3, "trend": 16.642227, "fair_value": 16.577233, "relative_strength": -6.657323, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 79.113894, "energy": 80.738565, "activity_lines": [ 16.930164, 16.814468, 16.708157, 16.671658 ] }, { "date": "2024-08-16", "close": 17.15976, "volume": 191795, "typical_volume": 189301.85, "trend": 16.657604, "fair_value": 16.571262, "relative_strength": -9.192651, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 84.51106, "energy": 87.14143, "activity_lines": [ 17.021031, 16.892423, 16.758265, 16.705047 ] }, { "date": "2024-08-23", "close": 17.408854, "volume": 464215, "typical_volume": 192665.65, "trend": 16.682205, "fair_value": 16.565772, "relative_strength": -8.811581, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 91.900559, "energy": 95.119427, "activity_lines": [ 17.171889, 17.006191, 16.829417, 16.753515 ] }, { "date": "2024-08-30", "close": 17.279694, "volume": 228660, "typical_volume": 194852.6, "trend": 16.704654, "fair_value": 16.558674, "relative_strength": -9.424455, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 74.065815, "energy": 88.805053, "activity_lines": [ 17.237871, 17.080708, 16.884621, 16.792063 ] }, { "date": "2024-09-06", "close": 17.390402, "volume": 334572, "typical_volume": 203701.9, "trend": 16.732024, "fair_value": 16.552954, "relative_strength": -4.652591, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 78.645821, "energy": 90.343362, "activity_lines": [ 17.309831, 17.161347, 16.946017, 16.836305 ] }, { "date": "2024-09-13", "close": 17.399628, "volume": 359236, "typical_volume": 216205.0, "trend": 16.759886, "fair_value": 16.548075, "relative_strength": -7.964166, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 74.32914, "energy": 87.942306, "activity_lines": [ 17.35842, 17.227644, 17.003332, 16.879376 ] }, { "date": "2024-09-20", "close": 17.464208, "volume": 504233, "typical_volume": 237631.85, "trend": 16.78787, "fair_value": 16.543832, "relative_strength": -8.533207, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 75.986841, "energy": 79.248968, "activity_lines": [ 17.403933, 17.292516, 17.061922, 16.924816 ] }, { "date": "2024-09-27", "close": 17.556464, "volume": 669392, "typical_volume": 259589.85, "trend": 16.818007, "fair_value": 16.541102, "relative_strength": -8.176902, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 80.108672, "energy": 78.741715, "activity_lines": [ 17.459902, 17.362343, 17.124992, 16.974403 ] }, { "date": "2024-10-04", "close": 17.15976, "volume": 602255, "typical_volume": 277899.7, "trend": 16.828008, "fair_value": 16.535968, "relative_strength": -10.069727, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 64.400561, "energy": 56.170681, "activity_lines": [ 17.373796, 17.345951, 17.145316, 16.996451 ] }, { "date": "2024-10-11", "close": 17.109019, "volume": 218785, "typical_volume": 285039.15, "trend": 16.839848, "fair_value": 16.530229, "relative_strength": -10.937722, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 49.466927, "energy": 40.589896, "activity_lines": [ 17.278771, 17.314081, 17.15848, 17.014581 ] }, { "date": "2024-10-18", "close": 17.012149, "volume": 402823, "typical_volume": 297736.6, "trend": 16.853744, "fair_value": 16.523591, "relative_strength": -11.706282, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 36.018919, "energy": 25.064472, "activity_lines": [ 17.170216, 17.262501, 17.160156, 17.025697 ] }, { "date": "2024-10-25", "close": 16.864539, "volume": 273389, "typical_volume": 304363.2, "trend": 16.862663, "fair_value": 16.516584, "relative_strength": -11.085097, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 4.98524, "energy": 24.269105, "activity_lines": [ 17.038289, 17.184418, 17.146064, 17.026394 ] }, { "date": "2024-11-01", "close": 16.878377, "volume": 269700, "typical_volume": 305981.5, "trend": 16.870514, "fair_value": 16.509814, "relative_strength": -9.312544, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -6.334297, "energy": 28.878779, "activity_lines": [ 16.950952, 17.114219, 17.132214, 17.027407 ] }, { "date": "2024-11-08", "close": 16.763056, "volume": 947880, "typical_volume": 349056.25, "trend": 16.883746, "fair_value": 16.503447, "relative_strength": -13.547309, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -35.144586, "energy": 42.124884, "activity_lines": [ 16.870381, 17.032697, 17.105778, 17.020475 ] }, { "date": "2024-11-15", "close": 16.440157, "volume": 783760, "typical_volume": 373860.25, "trend": 16.886791, "fair_value": 16.496266, "relative_strength": -12.94135, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -51.976262, "energy": 68.074328, "activity_lines": [ 16.708624, 16.901861, 17.047381, 16.991856 ] }, { "date": "2024-11-22", "close": 16.357126, "volume": 330774, "typical_volume": 380849.15, "trend": 16.886176, "fair_value": 16.488665, "relative_strength": -14.314315, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -51.736844, "energy": 77.854591, "activity_lines": [ 16.563781, 16.773204, 16.981406, 16.957684 ] }, { "date": "2024-11-29", "close": 16.670799, "volume": 425704, "typical_volume": 396015.1, "trend": 16.889866, "fair_value": 16.483101, "relative_strength": -13.215263, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -30.490589, "energy": 66.515529, "activity_lines": [ 16.567164, 16.720534, 16.94682, 16.943789 ] }, { "date": "2024-12-06", "close": 16.624671, "volume": 399305, "typical_volume": 409110.05, "trend": 16.893556, "fair_value": 16.477159, "relative_strength": -13.731591, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -37.728023, "energy": 63.836099, "activity_lines": [ 16.568087, 16.673902, 16.908524, 16.926679 ] }, { "date": "2024-12-13", "close": 16.47706, "volume": 187921, "typical_volume": 412553.2, "trend": 16.887098, "fair_value": 16.470995, "relative_strength": -13.524433, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -42.38135, "energy": 47.095327, "activity_lines": [ 16.536719, 16.617374, 16.856916, 16.899809 ] }, { "date": "2024-12-20", "close": 16.320224, "volume": 351521, "typical_volume": 411471.15, "trend": 16.876643, "fair_value": 16.463101, "relative_strength": -12.287316, "stage": 4, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -76.126756, "energy": 56.8473, "activity_lines": [ 16.47214, 16.544743, 16.791985, 16.863236 ] }, { "date": "2024-12-27", "close": 16.301643, "volume": 310163, "typical_volume": 412804.15, "trend": 16.864922, "fair_value": 16.454698, "relative_strength": -12.483208, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -73.678343, "energy": 60.867211, "activity_lines": [ 16.409362, 16.483075, 16.728491, 16.826139 ] }, { "date": "2025-01-03", "close": 16.194779, "volume": 554359, "typical_volume": 430932.35, "trend": 16.850131, "fair_value": 16.445749, "relative_strength": -12.117, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -77.052889, "energy": 81.66159, "activity_lines": [ 16.314662, 16.414896, 16.658291, 16.782904 ] }, { "date": "2025-01-10", "close": 16.068485, "volume": 268822, "typical_volume": 421162.7, "trend": 16.834359, "fair_value": 16.435291, "relative_strength": -10.635213, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -80.369421, "energy": 87.780282, "activity_lines": [ 16.209599, 16.335931, 16.580658, 16.732476 ] }, { "date": "2025-01-17", "close": 16.136489, "volume": 530388, "typical_volume": 436249.1, "trend": 16.82193, "fair_value": 16.425829, "relative_strength": -12.385453, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -70.661071, "energy": 82.372935, "activity_lines": [ 16.164282, 16.284057, 16.515885, 16.687452 ] }, { "date": "2025-01-24", "close": 16.481369, "volume": 482825, "typical_volume": 443661.75, "trend": 16.820997, "fair_value": 16.420501, "relative_strength": -11.626853, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -63.821452, "energy": 54.199599, "activity_lines": [ 16.25663, 16.30628, 16.489401, 16.66548 ] }, { "date": "2025-01-31", "close": 16.301643, "volume": 329044, "typical_volume": 442152.15, "trend": 16.808538, "fair_value": 16.411874, "relative_strength": -11.311705, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -59.861607, "energy": 46.711765, "activity_lines": [ 16.278327, 16.295076, 16.450129, 16.631973 ] }, { "date": "2025-02-07", "close": 16.350217, "volume": 444480, "typical_volume": 439164.5, "trend": 16.793073, "fair_value": 16.404338, "relative_strength": -10.538927, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -45.111855, "energy": 33.080937, "activity_lines": [ 16.316215, 16.293712, 16.420711, 16.602404 ] }, { "date": "2025-02-14", "close": 16.593091, "volume": 570579, "typical_volume": 434223.85, "trend": 16.786793, "fair_value": 16.398389, "relative_strength": -10.178105, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -33.904408, "energy": 24.144212, "activity_lines": [ 16.424699, 16.342336, 16.419729, 16.589502 ] }, { "date": "2025-02-21", "close": 16.636808, "volume": 357600, "typical_volume": 421991.1, "trend": 16.780826, "fair_value": 16.39325, "relative_strength": -8.160178, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -20.710034, "energy": 19.574645, "activity_lines": [ 16.512781, 16.399483, 16.427498, 16.579826 ] }, { "date": "2025-02-28", "close": 16.476511, "volume": 452667, "typical_volume": 433685.2, "trend": 16.763586, "fair_value": 16.389473, "relative_strength": -7.860742, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -13.145033, "energy": 17.479493, "activity_lines": [ 16.514076, 16.424581, 16.422491, 16.560193 ] }, { "date": "2025-03-07", "close": 17.107982, "volume": 1661549, "typical_volume": 496621.5, "trend": 16.766165, "fair_value": 16.390255, "relative_strength": -1.064513, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": 24.458681, "energy": 32.510981, "activity_lines": [ 16.726185, 16.56165, 16.480636, 16.582412 ] }, { "date": "2025-03-14", "close": 17.088552, "volume": 983810, "typical_volume": 532142.55, "trend": 16.763792, "fair_value": 16.389907, "relative_strength": 1.307817, "stage": 4, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 42.032171, "energy": 56.307179, "activity_lines": [ 16.878062, 16.680525, 16.536474, 16.603211 ] }, { "date": "2025-03-21", "close": 17.030262, "volume": 680289, "typical_volume": 552672.0, "trend": 16.751172, "fair_value": 16.389911, "relative_strength": 0.58255, "stage": 1, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 34.914044, "energy": 63.692238, "activity_lines": [ 16.961286, 16.772552, 16.585694, 16.620402 ] }, { "date": "2025-03-28", "close": 17.059407, "volume": 424747, "typical_volume": 526515.35, "trend": 16.743829, "fair_value": 16.389827, "relative_strength": 2.357165, "stage": 1, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 33.074748, "energy": 65.995242, "activity_lines": [ 17.025081, 16.852391, 16.636967, 16.640288 ] }, { "date": "2025-04-04", "close": 17.234276, "volume": 1239172, "typical_volume": 549285.95, "trend": 16.738625, "fair_value": 16.392255, "relative_strength": 13.600311, "stage": 1, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 47.823279, "energy": 69.182694, "activity_lines": [ 17.118992, 16.947244, 16.703482, 16.67193 ] }, { "date": "2025-04-11", "close": 17.758881, "volume": 3003960, "typical_volume": 682945.25, "trend": 16.7506, "fair_value": 16.398642, "relative_strength": 10.717094, "stage": 2, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 64.004921, "energy": 77.194456, "activity_lines": [ 17.337254, 17.12379, 16.816179, 16.737753 ] }, { "date": "2025-04-18", "close": 17.865746, "volume": 2389086, "typical_volume": 781114.35, "trend": 16.763985, "fair_value": 16.406636, "relative_strength": 12.940286, "stage": 2, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "up", "direction": 88.70142, "energy": 93.086513, "activity_lines": [ 17.547744, 17.293272, 16.932378, 16.809698 ] }, { "date": "2025-04-25", "close": 17.817171, "volume": 2841455, "typical_volume": 903221.85, "trend": 16.772675, "fair_value": 16.416539, "relative_strength": 7.695631, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 78.621397, "energy": 90.880039, "activity_lines": [ 17.690229, 17.426366, 17.03826, 16.877646 ] }, { "date": "2025-05-02", "close": 17.758881, "volume": 1371970, "typical_volume": 962424.3, "trend": 16.792646, "fair_value": 16.426625, "relative_strength": 4.388146, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 67.873573, "energy": 87.020025, "activity_lines": [ 17.760824, 17.526606, 17.132913, 16.941272 ] }, { "date": "2025-05-09", "close": 17.720022, "volume": 1294633, "typical_volume": 1009579.9, "trend": 16.813012, "fair_value": 16.437521, "relative_strength": 4.653945, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 65.990193, "energy": 82.84518, "activity_lines": [ 17.771835, 17.59938, 17.21776, 17.001103 ] }, { "date": "2025-05-16", "close": 17.593728, "volume": 934310, "typical_volume": 1040787.25, "trend": 16.832398, "fair_value": 16.445848, "relative_strength": -1.1693, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 63.004176, "energy": 60.355922, "activity_lines": [ 17.708364, 17.626582, 17.283914, 17.051471 ] }, { "date": "2025-05-23", "close": 17.95318, "volume": 1182004, "typical_volume": 1072169.5, "trend": 16.868686, "fair_value": 16.455116, "relative_strength": 3.531934, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 74.642018, "energy": 61.929258, "activity_lines": [ 17.775721, 17.710307, 17.378149, 17.12378 ] }, { "date": "2025-05-30", "close": 17.885175, "volume": 610454, "typical_volume": 1089251.1, "trend": 16.902246, "fair_value": 16.464393, "relative_strength": 1.447257, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 66.939929, "energy": 57.920914, "activity_lines": [ 17.81458, 17.765947, 17.457534, 17.18936 ] }, { "date": "2025-06-06", "close": 17.93375, "volume": 1480952, "typical_volume": 1136779.3, "trend": 16.94127, "fair_value": 16.476158, "relative_strength": 0.171787, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 68.328203, "energy": 61.66589, "activity_lines": [ 17.865098, 17.814875, 17.532894, 17.255908 ] }, { "date": "2025-06-13", "close": 18.128049, "volume": 980087, "typical_volume": 1161642.4, "trend": 16.997533, "fair_value": 16.489447, "relative_strength": 1.652579, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 77.447461, "energy": 71.601244, "activity_lines": [ 17.968724, 17.883233, 17.6182, 17.332475 ] }, { "date": "2025-06-20", "close": 18.001755, "volume": 736537, "typical_volume": 1182017.05, "trend": 17.052354, "fair_value": 16.501457, "relative_strength": 1.133049, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 63.972552, "energy": 61.410623, "activity_lines": [ 18.00305, 17.912377, 17.683637, 17.397263 ] }, { "date": "2025-06-27", "close": 18.273772, "volume": 828497, "typical_volume": 1201217.9, "trend": 17.105786, "fair_value": 16.516238, "relative_strength": -0.7196, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 77.671058, "energy": 64.204482, "activity_lines": [ 18.100847, 17.986564, 17.766885, 17.476064 ] }, { "date": "2025-07-04", "close": 18.312632, "volume": 903614, "typical_volume": 1217869.65, "trend": 17.162051, "fair_value": 16.533109, "relative_strength": -2.095268, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 76.006945, "energy": 67.445075, "activity_lines": [ 18.190224, 18.060397, 17.844674, 17.553925 ] }, { "date": "2025-07-11", "close": 18.176623, "volume": 853651, "typical_volume": 1242672.2, "trend": 17.218703, "fair_value": 16.550167, "relative_strength": -2.47589, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 65.120633, "energy": 71.280668, "activity_lines": [ 18.205768, 18.100493, 17.901321, 17.619382 ] }, { "date": "2025-07-18", "close": 18.074616, "volume": 1036120, "typical_volume": 1271844.85, "trend": 17.277183, "fair_value": 16.565289, "relative_strength": -3.501787, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 62.857567, "energy": 59.909852, "activity_lines": [ 18.171118, 18.114448, 17.940921, 17.674602 ] }, { "date": "2025-07-25", "close": 18.215483, "volume": 888710, "typical_volume": 1233202.9, "trend": 17.340978, "fair_value": 16.580477, "relative_strength": -4.037251, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 64.340157, "energy": 56.672335, "activity_lines": [ 18.186986, 18.147567, 17.986326, 17.735137 ] }, { "date": "2025-08-01", "close": 18.011469, "volume": 1575174, "typical_volume": 1262771.1, "trend": 17.401534, "fair_value": 16.595027, "relative_strength": -2.556223, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 47.662618, "energy": 39.432331, "activity_lines": [ 18.1206, 18.132288, 18.007028, 17.778395 ] }, { "date": "2025-08-08", "close": 18.147478, "volume": 877401, "typical_volume": 1272626.7, "trend": 17.470834, "fair_value": 16.609501, "relative_strength": -3.962202, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 46.510282, "energy": 35.835147, "activity_lines": [ 18.117038, 18.140678, 18.036289, 17.82652 ] }, { "date": "2025-08-15", "close": 18.22034, "volume": 633752, "typical_volume": 1283076.95, "trend": 17.540296, "fair_value": 16.626923, "relative_strength": -4.327069, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 52.419315, "energy": 38.648943, "activity_lines": [ 18.148773, 18.157546, 18.067168, 17.874875 ] }, { "date": "2025-08-22", "close": 18.244628, "volume": 1235639, "typical_volume": 1282900.3, "trend": 17.599071, "fair_value": 16.645171, "relative_strength": -4.28551, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 62.352848, "energy": 41.523279, "activity_lines": [ 18.18569, 18.17362, 18.094833, 17.920316 ] }, { "date": "2025-08-29", "close": 18.244628, "volume": 681598, "typical_volume": 1166782.2, "trend": 17.663837, "fair_value": 16.664395, "relative_strength": -4.075068, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 62.079846, "energy": 43.849262, "activity_lines": [ 18.211273, 18.187574, 18.117686, 17.961965 ] }, { "date": "2025-09-05", "close": 18.254343, "volume": 623701, "typical_volume": 1078512.95, "trend": 17.727308, "fair_value": 16.682872, "relative_strength": -4.074739, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 60.052471, "energy": 43.054749, "activity_lines": [ 18.238151, 18.198879, 18.139151, 18.000062 ] }, { "date": "2025-09-12", "close": 18.293202, "volume": 687683, "typical_volume": 970824.35, "trend": 17.783978, "fair_value": 16.702519, "relative_strength": -5.139356, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 63.023126, "energy": 43.998496, "activity_lines": [ 18.261791, 18.217602, 18.162467, 18.036572 ] }, { "date": "2025-09-19", "close": 18.293202, "volume": 1451905, "typical_volume": 974821.1, "trend": 17.839191, "fair_value": 16.724565, "relative_strength": -6.079337, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 60.465866, "energy": 41.225588, "activity_lines": [ 18.275715, 18.236679, 18.183516, 18.069425 ] }, { "date": "2025-09-26", "close": 18.205768, "volume": 595037, "typical_volume": 939841.3, "trend": 17.896833, "fair_value": 16.745826, "relative_strength": -6.041992, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 55.269883, "energy": 36.132464, "activity_lines": [ 18.255638, 18.237739, 18.193694, 18.093075 ] }, { "date": "2025-10-03", "close": 18.290288, "volume": 567389, "typical_volume": 921495.25, "trend": 17.936244, "fair_value": 16.768076, "relative_strength": -6.465108, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 57.193325, "energy": 35.439118, "activity_lines": [ 18.266324, 18.251781, 18.209608, 18.118459 ] }, { "date": "2025-10-10", "close": 18.060044, "volume": 756502, "typical_volume": 900220.15, "trend": 17.968627, "fair_value": 16.789241, "relative_strength": -5.214239, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 28.755959, "energy": 16.057617, "activity_lines": [ 18.197219, 18.222601, 18.200277, 18.126446 ] }, { "date": "2025-10-17", "close": 18.147478, "volume": 604312, "typical_volume": 899913.05, "trend": 18.005867, "fair_value": 16.809627, "relative_strength": -6.253161, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 30.532009, "energy": 15.094508, "activity_lines": [ 18.170211, 18.208435, 18.198764, 18.137985 ] }, { "date": "2025-10-24", "close": 18.079474, "volume": 607839, "typical_volume": 856257.4, "trend": 18.039869, "fair_value": 16.828462, "relative_strength": -8.209346, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 9.167138, "energy": 10.415503, "activity_lines": [ 18.130251, 18.181905, 18.189525, 18.142734 ] }, { "date": "2025-10-31", "close": 17.904605, "volume": 755352, "typical_volume": 845020.65, "trend": 18.062214, "fair_value": 16.846287, "relative_strength": -9.518992, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -29.921999, "energy": 28.657639, "activity_lines": [ 18.046249, 18.126141, 18.162939, 18.134007 ] }, { "date": "2025-11-07", "close": 17.962895, "volume": 721035, "typical_volume": 844245.55, "trend": 18.069014, "fair_value": 16.860247, "relative_strength": -7.626656, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -22.444154, "energy": 38.277118, "activity_lines": [ 18.001754, 18.087157, 18.142968, 18.127599 ] }, { "date": "2025-11-14", "close": 18.021184, "volume": 543311, "typical_volume": 829986.25, "trend": 18.074195, "fair_value": 16.875305, "relative_strength": -7.361781, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -19.812894, "energy": 39.599376, "activity_lines": [ 17.998516, 18.063895, 18.128733, 18.124514 ] }, { "date": "2025-11-21", "close": 17.865746, "volume": 882459, "typical_volume": 828928.5, "trend": 18.075815, "fair_value": 16.888363, "relative_strength": -6.320143, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -41.050781, "energy": 54.382526, "activity_lines": [ 17.946056, 18.01661, 18.100898, 18.111065 ] }, { "date": "2025-11-28", "close": 18.011469, "volume": 414373, "typical_volume": 806964.6, "trend": 18.084234, "fair_value": 16.901072, "relative_strength": -8.822835, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -28.76666, "energy": 34.633948, "activity_lines": [ 17.960952, 18.003591, 18.089069, 18.106914 ] }, { "date": "2025-12-05", "close": 18.108619, "volume": 515890, "typical_volume": 780953.1, "trend": 18.097187, "fair_value": 16.914738, "relative_strength": -8.561053, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -21.46217, "energy": 17.274063, "activity_lines": [ 18.012765, 18.013359, 18.087278, 18.108487 ] }, { "date": "2025-12-12", "close": 18.215483, "volume": 693249, "typical_volume": 771180.05, "trend": 18.117913, "fair_value": 16.928922, "relative_strength": -7.436859, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -18.682307, "energy": 10.700923, "activity_lines": [ 18.086598, 18.044324, 18.095504, 18.116119 ] }, { "date": "2025-12-19", "close": 18.166908, "volume": 756924, "typical_volume": 730267.55, "trend": 18.125037, "fair_value": 16.942248, "relative_strength": -7.719165, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 1.662526, "energy": 12.067943, "activity_lines": [ 18.127401, 18.067816, 18.099103, 18.11928 ] }, { "date": "2025-12-26", "close": 18.29, "volume": 494455, "typical_volume": 711120.25, "trend": 18.138531, "fair_value": 16.955576, "relative_strength": -8.327562, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 16.083325, "energy": 23.815736, "activity_lines": [ 18.199519, 18.111746, 18.113685, 18.129923 ] }, { "date": "2026-01-02", "close": 18.22, "volume": 632420, "typical_volume": 711053.65, "trend": 18.148073, "fair_value": 16.968905, "relative_strength": -7.662, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 16.953672, "energy": 26.047824, "activity_lines": [ 18.220021, 18.140357, 18.120921, 18.135179 ] }, { "date": "2026-01-09", "close": 18.1, "volume": 1285217, "typical_volume": 713532.55, "trend": 18.147138, "fair_value": 16.979499, "relative_strength": -9.594732, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 10.514443, "energy": 18.843488, "activity_lines": [ 18.18662, 18.144595, 18.116731, 18.132077 ] }, { "date": "2026-01-16", "close": 18.04, "volume": 716359, "typical_volume": 715270.6, "trend": 18.148413, "fair_value": 16.989483, "relative_strength": -9.505825, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -31.244881, "energy": 16.182119, "activity_lines": [ 18.133794, 18.134371, 18.107515, 18.125165 ] }, { "date": "2026-01-23", "close": 18.41, "volume": 1447121, "typical_volume": 756441.6, "trend": 18.152954, "fair_value": 17.001839, "relative_strength": -7.279943, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 29.900628, "energy": 19.278774, "activity_lines": [ 18.216, 18.190018, 18.134512, 18.142042 ] }, { "date": "2026-01-30", "close": 18.48, "volume": 3031358, "typical_volume": 873625.35, "trend": 18.158532, "fair_value": 17.015768, "relative_strength": -7.252718, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 69.057606, "energy": 47.726609, "activity_lines": [ 18.305333, 18.251323, 18.167434, 18.163142 ] }, { "date": "2026-02-06", "close": 18.39, "volume": 1110580, "typical_volume": 856559.1, "trend": 18.165645, "fair_value": 17.029625, "relative_strength": -7.468014, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 58.851194, "energy": 58.496607, "activity_lines": [ 18.352, 18.285097, 18.190895, 18.178075 ] }, { "date": "2026-02-13", "close": 18.55, "volume": 704573, "typical_volume": 862035.9, "trend": 18.181491, "fair_value": 17.044732, "relative_strength": -5.428072, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 71.994431, "energy": 75.045443, "activity_lines": [ 18.440667, 18.341078, 18.229133, 18.202872 ] }, { "date": "2026-02-20", "close": 18.37, "volume": 663096, "typical_volume": 866821.25, "trend": 18.186642, "fair_value": 17.059921, "relative_strength": -7.301645, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 59.405547, "energy": 66.050718, "activity_lines": [ 18.439333, 18.356307, 18.248589, 18.215034 ] }, { "date": "2026-02-27", "close": 18.41, "volume": 618194, "typical_volume": 859905.85, "trend": 18.199926, "fair_value": 17.074637, "relative_strength": -6.557829, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 58.899378, "energy": 55.589838, "activity_lines": [ 18.429333, 18.376, 18.271476, 18.229444 ] }, { "date": "2026-03-06", "close": 18.15, "volume": 1323020, "typical_volume": 895841.25, "trend": 18.20001, "fair_value": 17.087854, "relative_strength": -5.819846, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 31.037861, "energy": 21.531897, "activity_lines": [ 18.332667, 18.344, 18.267933, 18.226223 ] }, { "date": "2026-03-13", "close": 17.9, "volume": 1697216, "typical_volume": 950310.1, "trend": 18.189332, "fair_value": 17.09857, "relative_strength": -5.467912, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -18.959993, "energy": 20.731258, "activity_lines": [ 18.174667, 18.269091, 18.24057, 18.206868 ] }, { "date": "2026-03-20", "close": 18.06, "volume": 1295441, "typical_volume": 977314.55, "trend": 18.183178, "fair_value": 17.109525, "relative_strength": -2.698382, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -18.030997, "energy": 25.934542, "activity_lines": [ 18.102667, 18.229091, 18.229299, 18.198524 ] }, { "date": "2026-03-27", "close": 17.97, "volume": 1422773, "typical_volume": 1012401.45, "trend": 18.174024, "fair_value": 17.119285, "relative_strength": -0.79148, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -27.258242, "energy": 34.376184, "activity_lines": [ 18.033333, 18.173455, 18.208716, 18.18477 ] }, { "date": "2026-04-03", "close": 17.98, "volume": 846810, "typical_volume": 1027576.4, "trend": 18.164879, "fair_value": 17.128379, "relative_strength": -3.566861, "stage": 3, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -24.577959, "energy": 43.16073, "activity_lines": [ 17.994, 18.120909, 18.189052, 18.172253 ] }, { "date": "2026-04-10", "close": 18.24, "volume": 690079, "typical_volume": 1017957.4, "trend": 18.163105, "fair_value": 17.138691, "relative_strength": -5.13847, "stage": 3, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -11.476819, "energy": 20.895154, "activity_lines": [ 18.07, 18.123455, 18.194347, 18.177099 ] }, { "date": "2026-04-17", "close": 18.35, "volume": 536033, "typical_volume": 1024040.4, "trend": 18.164999, "fair_value": 17.14982, "relative_strength": -8.159629, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": 15.939535, "energy": 8.605171, "activity_lines": [ 18.176667, 18.150364, 18.208335, 18.189157 ] }, { "date": "2026-04-24", "close": 18.28, "volume": 782633, "typical_volume": 1037377.55, "trend": 18.167473, "fair_value": 17.160276, "relative_strength": -8.551653, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": 16.455978, "energy": 14.466715, "activity_lines": [ 18.23, 18.165273, 18.214044, 18.196576 ] }, { "date": "2026-05-01", "close": 18.34, "volume": 715692, "typical_volume": 1038499.7, "trend": 18.16913, "fair_value": 17.171116, "relative_strength": -8.714261, "stage": 3, "regime": "deceleration", "modifier": "Re-acceleration watch", "gate": "up", "direction": 43.257352, "energy": 31.675899, "activity_lines": [ 18.288667, 18.196, 18.224652, 18.207707 ] }, { "date": "2026-05-08", "close": 18.41, "volume": 1060530, "typical_volume": 1053680.0, "trend": 18.180795, "fair_value": 17.183528, "relative_strength": -10.052034, "stage": 3, "regime": "deceleration", "modifier": "Re-acceleration watch", "gate": "up", "direction": 50.262647, "energy": 37.772265, "activity_lines": [ 18.346, 18.24, 18.241333, 18.223247 ] }, { "date": "2026-05-15", "close": 18.15, "volume": 1028287, "typical_volume": 1080371.6, "trend": 18.180879, "fair_value": 17.194667, "relative_strength": -11.176237, "stage": 3, "regime": "deceleration", "modifier": "Re-acceleration watch", "gate": "up", "direction": 40.634885, "energy": 26.945727, "activity_lines": [ 18.288, 18.236727, 18.232095, 18.22126 ] }, { "date": "2026-05-22", "close": 18.18, "volume": 634936, "typical_volume": 1080497.4, "trend": 18.18423, "fair_value": 17.206897, "relative_strength": -11.371372, "stage": 3, "regime": "deceleration", "modifier": "Re-acceleration watch", "gate": "up", "direction": 37.785422, "energy": 18.394942, "activity_lines": [ 18.246, 18.238909, 18.226381, 18.221204 ] }, { "date": "2026-05-29", "close": 18.25, "volume": 388052, "typical_volume": 1035639.15, "trend": 18.195743, "fair_value": 17.219407, "relative_strength": -11.900493, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 31.549356, "energy": 12.72945, "activity_lines": [ 18.238667, 18.248727, 18.227524, 18.225447 ] }, { "date": "2026-06-05", "close": 18.03, "volume": 339913, "typical_volume": 1016816.85, "trend": 18.19798, "fair_value": 17.230058, "relative_strength": -10.361602, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -19.705373, "energy": 17.758961, "activity_lines": [ 18.16, 18.215091, 18.207, 18.214754 ] }, { "date": "2026-06-12", "close": 18.1, "volume": 281348, "typical_volume": 958528.2, "trend": 18.200608, "fair_value": 17.239809, "relative_strength": -10.123091, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -23.034089, "energy": 27.077194, "activity_lines": [ 18.125333, 18.193091, 18.19319, 18.208432 ] }, { "date": "2026-06-19", "close": 17.92, "volume": 286172, "typical_volume": 821268.9, "trend": 18.202416, "fair_value": 17.24908, "relative_strength": -11.421406, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -69.440045, "energy": 61.038448, "activity_lines": [ 18.051333, 18.136182, 18.163714, 18.190329 ] }, { "date": "2026-06-26", "close": 17.82, "volume": 677017, "typical_volume": 799590.75, "trend": 18.196034, "fair_value": 17.257654, "relative_strength": -9.410768, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -76.196295, "energy": 74.362528, "activity_lines": [ 17.959333, 18.066909, 18.127381, 18.165657 ] }, { "date": "2026-07-03", "close": 17.91, "volume": 565707, "typical_volume": 792647.45, "trend": 18.189413, "fair_value": 17.266075, "relative_strength": -10.528958, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -62.887092, "energy": 71.006676, "activity_lines": [ 17.921333, 18.023636, 18.102333, 18.147203 ] }, { "date": "2026-07-10", "close": 17.9, "volume": 425531, "typical_volume": 780769.2, "trend": 18.178897, "fair_value": 17.271764, "relative_strength": -11.41851, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -65.756049, "energy": 73.997645, "activity_lines": [ 17.902667, 17.985273, 18.079381, 18.128531 ] }, { "date": "2026-07-17", "close": 17.97, "volume": 337673, "typical_volume": 766743.15, "trend": 18.172333, "fair_value": 17.279109, "relative_strength": -9.355206, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -62.570454, "energy": 65.815154, "activity_lines": [ 17.916, 17.967636, 18.065333, 18.115054 ] }, { "date": "2026-07-24", "close": 17.83, "volume": 207875, "typical_volume": 710985.9, "trend": 18.157, "fair_value": 17.286006, "relative_strength": -9.217988, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -70.094406, "energy": 55.931341, "activity_lines": [ 17.891333, 17.932545, 18.040048, 18.092968 ] }, { "date": "2026-07-31", "close": 18.12, "volume": 717856, "typical_volume": 662017.9, "trend": 18.153667, "fair_value": 17.295155, "relative_strength": -8.408167, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -38.895428, "energy": 26.4211, "activity_lines": [ 17.969333, 17.956, 18.043905, 18.090581 ] }, { "date": "2026-08-07", "close": 18.2, "volume": 396377, "typical_volume": 617064.7, "trend": 18.157, "fair_value": 17.305884, "relative_strength": -10.783713, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -17.158568, "energy": 15.630011, "activity_lines": [ 18.054, 17.995091, 18.054333, 18.09357 ] } ], "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." } } }