{ "ticker": { "uuid": "e772cd8b-5bfd-4d4a-9285-43e99ab29be2", "symbol": "HFEL", "name": "Henderson Far East Income Limited", "exchange": "LSE", "country": "GB", "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": "^FTSE", "stage": 3, "stage_name": "Distribution", "phase": "3a", "phase_label": "Stage 3A \u00b7 Churning", "transition": "stage_3_churning", "transition_label": "Stage 3 range intact", "confidence": 69.313, "architecture_regime": "deceleration", "architecture_regime_label": "Deceleration", "architecture_modifier": "Momentum cooling", "architecture_gate": "mixed", "architecture_direction": -13.565, "architecture_energy": 22.955, "architecture_maturity": 12.443, "architecture_confidence": 49.399, "architecture_tenure": "New", "architecture": { "interpretation": { "headline": "The upward structure remains, but its energy is decelerating.", "body": "Trend remains positive, but Activity or price acceptance is losing strength. This can become a healthy recompression, a re-acceleration, or a Rotation Down." }, "scores": { "balance": 52.85, "rotation_up": 18.05, "upward_expansion": 17.19, "deceleration": 56.54, "rotation_down": 50.06, "downward_expansion": 42.19 }, "activity_lines": [ 254.88046, 256.7479, 260.021618, 259.303841 ], "activity_state": "Moderate", "activity_direction": "Expanding", "rotation_direction": "Weakening", "price_acceptance": -0.5 }, "latest_close": 256.5, "trend_reference": 257.794922, "distance_from_trend": -0.005023, "trend_direction": "Improving", "fair_value": 231.037232, "distance_from_fair_value": 0.110211, "fair_value_direction": "Weakening", "relative_strength": -5.179693, "relative_strength_direction": "Weakening", "price_momentum": 0.036612, "excess_performance": -0.014623, "evidence": [ { "label": "Price vs Trend", "positive": false, "value": -0.005023, "read": "Below" }, { "label": "Trend direction", "positive": true, "value": 0.028395, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.110211, "read": "Premium" }, { "label": "Fair Value direction", "positive": false, "value": -0.055803, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.051797, "read": "Lagging" }, { "label": "Relative strength direction", "positive": false, "value": -0.101232, "read": "Weakening" }, { "label": "Price momentum", "positive": true, "value": 0.036612, "read": "Positive" }, { "label": "Volume balance", "positive": true, "value": 2.539655, "read": "Demand-led" } ], "volume": { "latest": 8417206, "relative_activity": 1.513414, "balance": 2.539655, "dry_up": 1.987877, "accumulation_observations": 3, "distribution_observations": 1 }, "risk": { "range_context": 0.048667, "annualized_volatility": 0.215275, "from_high_reference": -0.08881, "from_low_reference": 0.130781 }, "levels": { "trend_reference": 257.794922, "fair_value_reference": 231.037232, "structural_low": 236.443357, "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": 8, "median_return": 0.040152, "positive_rate": 0.625, "directional_follow_through": 0.625, "median_excess_return": 0.012758, "regime_survival": 0.25, "best_return": 0.071283, "worst_return": -0.050182, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 5, "median_return": 0.004595, "positive_rate": 0.8, "directional_follow_through": 0.8, "median_excess_return": -0.005145, "regime_survival": 0.2, "best_return": 0.140971, "worst_return": -0.100155, "sufficient": true }, { "horizon": "Extended", "sample_count": 3, "median_return": 0.007139, "positive_rate": 0.666667, "directional_follow_through": 0.666667, "median_excess_return": -0.032679, "regime_survival": 0.0, "best_return": 0.146214, "worst_return": -0.18939, "sufficient": false }, { "horizon": "Full cycle", "sample_count": 2, "median_return": -0.092782, "positive_rate": 0.5, "directional_follow_through": 0.5, "median_excess_return": -0.13579, "regime_survival": 0.5, "best_return": 0.014318, "worst_return": -0.199882, "sufficient": false } ], "ledger": [ { "regime": "balance", "label": "Balance", "color": "blue", "start": "2024-08-09", "end": "2024-08-16", "tenure": "New", "return": 0.004425, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2024-08-23", "end": "2024-09-27", "tenure": "Developing", "return": 0.035242, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2024-10-04", "end": "2025-03-07", "tenure": "Established", "return": -0.067305, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-03-14", "end": "2025-06-06", "tenure": "Established", "return": 0.009515, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-06-13", "end": "2025-06-27", "tenure": "New", "return": 0.029545, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2025-07-04", "end": "2025-08-15", "tenure": "Developing", "return": -0.004095, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2025-08-22", "end": "2025-08-29", "tenure": "New", "return": 0.004348, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-09-05", "end": "2025-11-14", "tenure": "Developing", "return": 0.017455, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2025-11-21", "end": "2026-01-09", "tenure": "Developing", "return": 0.058442, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-01-16", "end": "2026-03-20", "tenure": "Developing", "return": -0.009699, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2026-03-27", "end": "2026-04-17", "tenure": "New", "return": 0.083503, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-04-24", "end": "2026-07-17", "tenure": "Established", "return": -0.057809, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2026-07-24", "end": "2026-07-31", "tenure": "New", "return": 0.007604, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2026-08-07", "end": "2026-08-07", "tenure": "New", "return": 0.0, "active": true } ], "chart_path": [ { "date": "2023-08-18", "close": 215.868164, "volume": 1594822, "typical_volume": 1833731.75, "trend": 253.317199, "fair_value": 289.806197, "relative_strength": -14.174112, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -86.041808, "energy": 72.922122, "activity_lines": [ 228.26121, 233.103869, 239.113497, 244.431827 ] }, { "date": "2023-08-25", "close": 211.879868, "volume": 3001466, "typical_volume": 1913008.05, "trend": 250.6464, "fair_value": 289.181494, "relative_strength": -16.202438, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -84.487002, "energy": 88.228299, "activity_lines": [ 221.451838, 228.605447, 236.025759, 241.758451 ] }, { "date": "2023-09-01", "close": 221.352127, "volume": 1504239, "typical_volume": 1910436.05, "trend": 248.457441, "fair_value": 288.649391, "relative_strength": -13.515033, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -65.3191, "energy": 81.441853, "activity_lines": [ 219.723563, 226.526074, 234.062702, 239.868498 ] }, { "date": "2023-09-08", "close": 217.363785, "volume": 1238773, "typical_volume": 1865976.1, "trend": 246.334857, "fair_value": 288.021587, "relative_strength": -14.775453, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -67.691588, "energy": 79.962807, "activity_lines": [ 217.92881, 224.046778, 231.911495, 237.862456 ] }, { "date": "2023-09-15", "close": 223.346313, "volume": 1555194, "typical_volume": 1727439.1, "trend": 244.561181, "fair_value": 287.464012, "relative_strength": -14.613456, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -63.041203, "energy": 54.970996, "activity_lines": [ 219.324732, 223.062021, 230.538366, 236.379324 ] }, { "date": "2023-09-22", "close": 220.355026, "volume": 1485738, "typical_volume": 1711766.45, "trend": 242.870506, "fair_value": 286.900013, "relative_strength": -14.890893, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -58.882427, "energy": 46.75243, "activity_lines": [ 220.122391, 221.767993, 229.005877, 234.817636 ] }, { "date": "2023-09-29", "close": 219.357971, "volume": 1348681, "typical_volume": 1696952.05, "trend": 241.080155, "fair_value": 286.329623, "relative_strength": -13.974485, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -59.68745, "energy": 43.8575, "activity_lines": [ 220.288573, 220.636041, 227.515825, 233.300699 ] }, { "date": "2023-10-06", "close": 213.375473, "volume": 1415320, "typical_volume": 1680115.5, "trend": 239.538856, "fair_value": 285.689004, "relative_strength": -14.580631, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -67.967137, "energy": 47.276977, "activity_lines": [ 217.962049, 218.805037, 225.586289, 231.5133 ] }, { "date": "2023-10-13", "close": 213.873978, "volume": 1367254, "typical_volume": 1633477.25, "trend": 238.097227, "fair_value": 285.108964, "relative_strength": -15.099938, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -65.855096, "energy": 48.974489, "activity_lines": [ 216.333471, 217.554146, 223.874861, 229.857501 ] }, { "date": "2023-10-20", "close": 208.390045, "volume": 1346714, "typical_volume": 1607936.65, "trend": 236.48941, "fair_value": 284.49377, "relative_strength": -14.644824, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -72.160903, "energy": 57.559248, "activity_lines": [ 213.109568, 215.695945, 221.799918, 227.940909 ] }, { "date": "2023-10-27", "close": 200.970322, "volume": 1785292, "typical_volume": 1613241.75, "trend": 234.542911, "fair_value": 283.954991, "relative_strength": -16.107688, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -80.148571, "energy": 76.431925, "activity_lines": [ 208.409509, 212.869408, 219.196092, 225.649355 ] }, { "date": "2023-11-03", "close": 201.967682, "volume": 1875459, "typical_volume": 1641436.8, "trend": 232.654576, "fair_value": 283.336515, "relative_strength": -16.753575, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -74.416626, "energy": 77.834491, "activity_lines": [ 205.334217, 210.495079, 216.924077, 223.547727 ] }, { "date": "2023-11-10", "close": 203.46376, "volume": 1166973, "typical_volume": 1639836.1, "trend": 230.716446, "fair_value": 282.676611, "relative_strength": -15.078568, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -68.071923, "energy": 76.683872, "activity_lines": [ 203.916971, 208.572986, 215.024247, 221.664449 ] }, { "date": "2023-11-17", "close": 205.957169, "volume": 1411486, "typical_volume": 1638863.0, "trend": 228.87804, "fair_value": 281.98805, "relative_strength": -15.268131, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -65.052048, "energy": 69.085691, "activity_lines": [ 203.991641, 207.429483, 213.532246, 220.067076 ] }, { "date": "2023-11-24", "close": 207.453232, "volume": 1356494, "typical_volume": 1640722.6, "trend": 227.469596, "fair_value": 281.289949, "relative_strength": -14.098617, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -61.711069, "energy": 51.787765, "activity_lines": [ 205.092787, 206.765385, 212.34359, 218.68483 ] }, { "date": "2023-12-01", "close": 204.959824, "volume": 2095690, "typical_volume": 1666634.7, "trend": 225.994653, "fair_value": 280.550355, "relative_strength": -15.188229, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -61.152809, "energy": 47.136892, "activity_lines": [ 205.42525, 205.936904, 211.05459, 217.232587 ] }, { "date": "2023-12-08", "close": 204.959824, "volume": 1957528, "typical_volume": 1671809.05, "trend": 224.60278, "fair_value": 279.785254, "relative_strength": -15.026132, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -50.113964, "energy": 39.168455, "activity_lines": [ 205.491747, 205.388337, 209.928828, 215.875501 ] }, { "date": "2023-12-15", "close": 207.95192, "volume": 2697096, "typical_volume": 1677445.15, "trend": 223.227574, "fair_value": 279.083972, "relative_strength": -13.574858, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -45.066416, "energy": 33.373474, "activity_lines": [ 206.356133, 205.645571, 209.258386, 214.801252 ] }, { "date": "2023-12-22", "close": 207.95192, "volume": 2107254, "typical_volume": 1700831.45, "trend": 221.918823, "fair_value": 278.408198, "relative_strength": -14.465742, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -41.869459, "energy": 29.773362, "activity_lines": [ 206.921309, 206.001415, 208.741966, 213.815726 ] }, { "date": "2023-12-29", "close": 214.43483, "volume": 1005143, "typical_volume": 1665830.8, "trend": 220.87601, "fair_value": 277.700645, "relative_strength": -11.733001, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -30.491044, "energy": 16.709858, "activity_lines": [ 209.514471, 207.643645, 208.973249, 213.332888 ] }, { "date": "2024-01-05", "close": 209.447968, "volume": 1689193, "typical_volume": 1670549.35, "trend": 219.500831, "fair_value": 276.875033, "relative_strength": -12.806294, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -30.359205, "energy": 17.740525, "activity_lines": [ 209.979906, 208.269266, 208.800516, 212.595595 ] }, { "date": "2024-01-12", "close": 209.447968, "volume": 1540056, "typical_volume": 1597478.85, "trend": 218.142265, "fair_value": 276.071741, "relative_strength": -11.577204, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -18.359636, "energy": 12.891697, "activity_lines": [ 210.146131, 208.740749, 208.658356, 211.947023 ] }, { "date": "2024-01-19", "close": 207.95192, "volume": 1859207, "typical_volume": 1615227.25, "trend": 217.099336, "fair_value": 275.255671, "relative_strength": -9.774234, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -19.587509, "energy": 12.054189, "activity_lines": [ 209.514464, 208.804218, 208.385295, 211.289581 ] }, { "date": "2024-01-26", "close": 206.764557, "volume": 2603122, "typical_volume": 1683444.7, "trend": 216.000215, "fair_value": 274.51453, "relative_strength": -11.746234, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -35.579219, "energy": 18.621612, "activity_lines": [ 208.487009, 208.5702, 208.062963, 210.622821 ] }, { "date": "2024-02-02", "close": 206.016312, "volume": 1375955, "typical_volume": 1674482.75, "trend": 214.99245, "fair_value": 273.774971, "relative_strength": -11.324048, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -38.538913, "energy": 22.133385, "activity_lines": [ 207.289297, 208.185457, 207.719842, 209.978699 ] }, { "date": "2024-02-09", "close": 211.004608, "volume": 1639614, "typical_volume": 1682176.55, "trend": 214.051277, "fair_value": 273.02274, "relative_strength": -8.211686, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -28.712804, "energy": 16.040101, "activity_lines": [ 208.315584, 208.733803, 207.93432, 209.721419 ] }, { "date": "2024-02-16", "close": 215.494034, "volume": 1940599, "typical_volume": 1711772.45, "trend": 213.209911, "fair_value": 272.305665, "relative_strength": -7.56274, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -3.782868, "energy": 4.536, "activity_lines": [ 210.734571, 209.988503, 208.620888, 209.8145 ] }, { "date": "2024-02-23", "close": 214.496399, "volume": 1299961, "typical_volume": 1706004.5, "trend": 212.349902, "fair_value": 271.639601, "relative_strength": -7.539636, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 12.506832, "energy": 15.340559, "activity_lines": [ 212.417942, 210.870284, 209.230844, 209.897499 ] }, { "date": "2024-03-01", "close": 218.48703, "volume": 1841147, "typical_volume": 1729699.15, "trend": 211.789094, "fair_value": 271.021441, "relative_strength": -5.168973, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 24.004231, "energy": 33.554037, "activity_lines": [ 214.995225, 212.358644, 210.215522, 210.293443 ] }, { "date": "2024-03-08", "close": 220.48233, "volume": 1322094, "typical_volume": 1728468.15, "trend": 211.494212, "fair_value": 270.393747, "relative_strength": -3.726652, "stage": 4, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 38.112646, "energy": 51.491827, "activity_lines": [ 217.45611, 214.018238, 211.368261, 210.854297 ] }, { "date": "2024-03-15", "close": 220.981155, "volume": 1512988, "typical_volume": 1714852.95, "trend": 211.664645, "fair_value": 269.762873, "relative_strength": -3.955426, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 38.724467, "energy": 53.928221, "activity_lines": [ 219.118868, 215.658573, 212.510925, 211.466357 ] }, { "date": "2024-03-22", "close": 222.976501, "volume": 1343581, "typical_volume": 1688259.05, "trend": 212.034533, "fair_value": 269.132033, "relative_strength": -5.174424, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "up", "direction": 67.645661, "energy": 65.521222, "activity_lines": [ 220.781638, 217.452004, 213.748333, 212.196155 ] }, { "date": "2024-03-29", "close": 221.480026, "volume": 1138414, "typical_volume": 1686831.1, "trend": 212.038796, "fair_value": 268.466087, "relative_strength": -5.692559, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 61.99953, "energy": 61.890325, "activity_lines": [ 221.446753, 218.727375, 214.743177, 212.805541 ] }, { "date": "2024-04-05", "close": 219.983551, "volume": 1260501, "typical_volume": 1679281.85, "trend": 212.126122, "fair_value": 267.752279, "relative_strength": -5.494969, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 59.20017, "energy": 49.88488, "activity_lines": [ 221.147467, 219.484694, 215.509708, 213.318106 ] }, { "date": "2024-04-12", "close": 226.468338, "volume": 2185036, "typical_volume": 1720708.95, "trend": 212.230189, "fair_value": 267.086418, "relative_strength": -3.426232, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 69.569366, "energy": 52.64456, "activity_lines": [ 222.910009, 221.18072, 216.827045, 214.24341 ] }, { "date": "2024-04-19", "close": 226.967148, "volume": 2017869, "typical_volume": 1716817.9, "trend": 212.450593, "fair_value": 266.401431, "relative_strength": -1.717663, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 66.994551, "energy": 51.103514, "activity_lines": [ 224.439753, 222.595584, 218.10134, 215.194182 ] }, { "date": "2024-04-26", "close": 226.0289, "volume": 2449435, "typical_volume": 1741413.25, "trend": 212.672957, "fair_value": 265.770665, "relative_strength": -4.808953, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 62.133755, "energy": 47.193924, "activity_lines": [ 225.257682, 223.54963, 219.181481, 216.070202 ] }, { "date": "2024-05-03", "close": 230.519516, "volume": 1781129, "typical_volume": 1695614.9, "trend": 213.244426, "fair_value": 265.155925, "relative_strength": -3.53625, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 70.37534, "energy": 60.770118, "activity_lines": [ 227.36899, 225.128607, 220.588971, 217.221593 ] }, { "date": "2024-05-10", "close": 235.010193, "volume": 1694449, "typical_volume": 1674974.65, "trend": 213.948966, "fair_value": 264.608248, "relative_strength": -3.975177, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 76.013081, "energy": 70.771224, "activity_lines": [ 230.374558, 227.232743, 222.31668, 218.625836 ] }, { "date": "2024-05-17", "close": 238.502899, "volume": 1643249, "typical_volume": 1706879.95, "trend": 214.952728, "fair_value": 264.116452, "relative_strength": -2.145233, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 79.935316, "energy": 78.996128, "activity_lines": [ 233.542584, 229.671494, 224.248179, 220.20996 ] }, { "date": "2024-05-24", "close": 237.006012, "volume": 2570385, "typical_volume": 1750939.55, "trend": 216.153918, "fair_value": 263.568811, "relative_strength": -1.301832, "stage": 1, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 71.698013, "energy": 79.066674, "activity_lines": [ 235.409344, 231.510438, 225.922507, 221.632753 ] }, { "date": "2024-05-31", "close": 231.517471, "volume": 1480445, "typical_volume": 1747959.0, "trend": 217.13891, "fair_value": 262.982796, "relative_strength": -2.815918, "stage": 1, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 64.143478, "energy": 66.76141, "activity_lines": [ 234.777333, 232.060103, 226.942888, 222.62395 ] }, { "date": "2024-06-07", "close": 235.010193, "volume": 2810738, "typical_volume": 1795535.55, "trend": 218.190458, "fair_value": 262.390464, "relative_strength": -0.68238, "stage": 1, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 63.123731, "energy": 51.509469, "activity_lines": [ 234.943658, 233.089519, 228.190816, 223.776936 ] }, { "date": "2024-06-14", "close": 237.006012, "volume": 1388021, "typical_volume": 1734780.5, "trend": 219.22542, "fair_value": 261.820494, "relative_strength": 1.620371, "stage": 1, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 66.077227, "energy": 49.101244, "activity_lines": [ 235.475878, 234.235808, 229.499974, 224.990842 ] }, { "date": "2024-06-21", "close": 241.496674, "volume": 1119567, "typical_volume": 1721961.1, "trend": 220.360201, "fair_value": 261.314397, "relative_strength": 2.593694, "stage": 1, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 73.240132, "energy": 51.649777, "activity_lines": [ 237.37193, 235.889082, 231.092806, 226.427698 ] }, { "date": "2024-06-28", "close": 240.498749, "volume": 1227716, "typical_volume": 1701366.2, "trend": 221.544832, "fair_value": 260.798715, "relative_strength": 3.255744, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 66.939643, "energy": 50.53696, "activity_lines": [ 238.735756, 237.087673, 232.421644, 227.726959 ] }, { "date": "2024-07-05", "close": 241.496674, "volume": 1131518, "typical_volume": 1660912.15, "trend": 222.762727, "fair_value": 260.298997, "relative_strength": 3.398521, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 66.102375, "energy": 51.417258, "activity_lines": [ 240.199374, 238.221675, 233.705075, 229.014174 ] }, { "date": "2024-07-12", "close": 242.993546, "volume": 2357864, "typical_volume": 1713807.3, "trend": 223.930781, "fair_value": 259.800901, "relative_strength": 3.613184, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 67.960779, "energy": 52.177487, "activity_lines": [ 241.496669, 239.346603, 235.007242, 230.319388 ] }, { "date": "2024-07-19", "close": 235.50914, "volume": 2162859, "typical_volume": 1729892.9, "trend": 224.849355, "fair_value": 259.262801, "relative_strength": 1.793327, "stage": 1, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 58.27791, "energy": 40.825882, "activity_lines": [ 239.766939, 238.88393, 235.460908, 231.066379 ] }, { "date": "2024-07-26", "close": 229.582321, "volume": 3335694, "typical_volume": 1830572.9, "trend": 225.354271, "fair_value": 258.766083, "relative_strength": -2.091535, "stage": 1, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 34.138183, "energy": 20.745479, "activity_lines": [ 236.161393, 237.334582, 235.269058, 231.371732 ] }, { "date": "2024-08-02", "close": 224.5914, "volume": 2728487, "typical_volume": 1891347.85, "trend": 225.859053, "fair_value": 258.21823, "relative_strength": -2.679124, "stage": 1, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 10.668645, "energy": 13.669951, "activity_lines": [ 231.686498, 235.039986, 234.558548, 231.322514 ] }, { "date": "2024-08-09", "close": 225.589615, "volume": 1795060, "typical_volume": 1913921.8, "trend": 226.397107, "fair_value": 257.708679, "relative_strength": -1.97658, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 1.120719, "energy": 17.150878, "activity_lines": [ 228.604831, 233.152603, 233.925915, 231.305131 ] }, { "date": "2024-08-16", "close": 226.587753, "volume": 2493021, "typical_volume": 1981652.15, "trend": 227.018302, "fair_value": 257.278903, "relative_strength": -3.077551, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -15.970838, "energy": 24.068123, "activity_lines": [ 226.916347, 231.55448, 233.375899, 231.317431 ] }, { "date": "2024-08-23", "close": 226.587753, "volume": 1055175, "typical_volume": 1971385.85, "trend": 227.679075, "fair_value": 256.817223, "relative_strength": -3.158283, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -17.246921, "energy": 23.692065, "activity_lines": [ 226.321583, 230.109491, 232.801561, 231.289654 ] }, { "date": "2024-08-30", "close": 226.587753, "volume": 921842, "typical_volume": 1908226.15, "trend": 228.36479, "fair_value": 256.352354, "relative_strength": -3.550557, "stage": 1, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -16.269324, "energy": 26.615487, "activity_lines": [ 226.321578, 228.853926, 232.195774, 231.219246 ] }, { "date": "2024-09-06", "close": 220.099609, "volume": 2073972, "typical_volume": 1911031.3, "trend": 228.667957, "fair_value": 255.820371, "relative_strength": -3.935628, "stage": 1, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -26.251105, "energy": 27.408878, "activity_lines": [ 224.358496, 226.689769, 230.9715, 230.686008 ] }, { "date": "2024-09-13", "close": 222.095947, "volume": 1538743, "typical_volume": 1865496.7, "trend": 228.88802, "fair_value": 255.320327, "relative_strength": -3.997977, "stage": 1, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -29.498302, "energy": 26.034066, "activity_lines": [ 223.360313, 225.259477, 229.970056, 230.262008 ] }, { "date": "2024-09-20", "close": 224.5914, "volume": 1256715, "typical_volume": 1839276.0, "trend": 229.22452, "fair_value": 254.887324, "relative_strength": -2.317653, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -24.894105, "energy": 22.24346, "activity_lines": [ 223.426858, 224.635643, 229.225002, 229.984807 ] }, { "date": "2024-09-27", "close": 234.573227, "volume": 1735875, "typical_volume": 1841347.3, "trend": 229.760727, "fair_value": 254.531068, "relative_strength": 0.954999, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": 0.514909, "energy": 6.957178, "activity_lines": [ 226.95377, 226.161272, 229.458828, 230.329884 ] }, { "date": "2024-10-04", "close": 235.571426, "volume": 2566180, "typical_volume": 1887493.85, "trend": 230.263697, "fair_value": 254.17802, "relative_strength": 1.878339, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 9.542273, "energy": 9.144898, "activity_lines": [ 230.281049, 227.885408, 229.789801, 230.704768 ] }, { "date": "2024-10-11", "close": 233.075958, "volume": 2190431, "typical_volume": 1868496.15, "trend": 230.666857, "fair_value": 253.783454, "relative_strength": 1.12093, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 7.139292, "energy": 12.494758, "activity_lines": [ 232.177595, 229.04693, 229.89707, 230.886204 ] }, { "date": "2024-10-18", "close": 237.56781, "volume": 1469568, "typical_volume": 1867952.3, "trend": 231.153234, "fair_value": 253.385779, "relative_strength": 1.760945, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 26.809695, "energy": 23.867873, "activity_lines": [ 234.706334, 230.870887, 230.450849, 231.331427 ] }, { "date": "2024-10-25", "close": 229.642899, "volume": 3351904, "typical_volume": 1895010.6, "trend": 231.42533, "fair_value": 252.952888, "relative_strength": -0.346843, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 9.183075, "energy": 14.009573, "activity_lines": [ 233.561979, 231.036167, 230.221064, 231.233986 ] }, { "date": "2024-11-01", "close": 226.148346, "volume": 2450466, "typical_volume": 1948132.85, "trend": 231.630823, "fair_value": 252.51355, "relative_strength": -1.033182, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -20.81471, "energy": 10.36695, "activity_lines": [ 230.916007, 230.510524, 229.684022, 230.893536 ] }, { "date": "2024-11-08", "close": 227.146805, "volume": 2330246, "typical_volume": 2008666.8, "trend": 231.653438, "fair_value": 252.064659, "relative_strength": 0.659889, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -32.878497, "energy": 14.613889, "activity_lines": [ 229.164512, 230.174409, 229.293775, 230.604244 ] }, { "date": "2024-11-15", "close": 226.647552, "volume": 1844307, "typical_volume": 2039496.35, "trend": 231.642785, "fair_value": 251.628521, "relative_strength": 0.502465, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -37.202634, "energy": 22.367054, "activity_lines": [ 227.808242, 229.737357, 228.924313, 230.281284 ] }, { "date": "2024-11-22", "close": 227.146805, "volume": 1288619, "typical_volume": 2047351.4, "trend": 231.680049, "fair_value": 251.221111, "relative_strength": -1.681781, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -36.475304, "energy": 22.542816, "activity_lines": [ 227.046949, 229.272023, 228.668356, 229.991221 ] }, { "date": "2024-11-29", "close": 225.149902, "volume": 1460194, "typical_volume": 2002467.9, "trend": 231.501061, "fair_value": 250.781756, "relative_strength": -2.838905, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -41.700982, "energy": 30.91775, "activity_lines": [ 226.314756, 228.351783, 228.290551, 229.569921 ] }, { "date": "2024-12-06", "close": 230.142136, "volume": 1670383, "typical_volume": 1977844.1, "trend": 231.338793, "fair_value": 250.352065, "relative_strength": -0.977875, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -42.054935, "energy": 22.015885, "activity_lines": [ 227.546174, 228.329067, 228.473167, 229.482248 ] }, { "date": "2024-12-13", "close": 228.145233, "volume": 2190022, "typical_volume": 1920560.5, "trend": 230.993537, "fair_value": 249.906383, "relative_strength": -1.741554, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -41.343505, "energy": 17.877346, "activity_lines": [ 227.845705, 228.023844, 228.491159, 229.276212 ] }, { "date": "2024-12-20", "close": 225.649139, "volume": 2525581, "typical_volume": 1910415.2, "trend": 230.614975, "fair_value": 249.467036, "relative_strength": -0.285081, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -45.707474, "energy": 19.71272, "activity_lines": [ 227.246643, 227.399806, 228.27827, 228.931412 ] }, { "date": "2024-12-27", "close": 230.641342, "volume": 328031, "typical_volume": 1837063.75, "trend": 230.585771, "fair_value": 249.062882, "relative_strength": 1.065945, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -23.586467, "energy": 10.118592, "activity_lines": [ 228.378209, 227.818475, 228.535793, 228.933113 ] }, { "date": "2025-01-03", "close": 229.642899, "volume": 1145396, "typical_volume": 1769682.5, "trend": 230.406861, "fair_value": 248.6619, "relative_strength": -0.326415, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -24.005913, "energy": 9.74649, "activity_lines": [ 228.943992, 228.181545, 228.67417, 228.872283 ] }, { "date": "2025-01-10", "close": 230.641342, "volume": 1753137, "typical_volume": 1804580.6, "trend": 230.194705, "fair_value": 248.232218, "relative_strength": -0.224137, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -9.692517, "energy": 6.151457, "activity_lines": [ 229.543056, 228.72615, 228.893089, 228.887411 ] }, { "date": "2025-01-17", "close": 234.635132, "volume": 2725986, "typical_volume": 1894787.8, "trend": 229.965987, "fair_value": 247.808992, "relative_strength": -1.540951, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 27.686915, "energy": 22.959884, "activity_lines": [ 231.440103, 229.915207, 229.473065, 229.17389 ] }, { "date": "2025-01-24", "close": 233.137466, "volume": 3754975, "typical_volume": 1978837.95, "trend": 229.720611, "fair_value": 247.43004, "relative_strength": -2.159987, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 24.149917, "energy": 29.062733, "activity_lines": [ 232.405268, 230.69581, 229.872086, 229.378501 ] }, { "date": "2025-01-31", "close": 230.202866, "volume": 2450208, "typical_volume": 2024411.2, "trend": 229.344151, "fair_value": 247.019511, "relative_strength": -5.269432, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 49.549679, "energy": 35.787862, "activity_lines": [ 231.893012, 230.824852, 229.929537, 229.409615 ] }, { "date": "2025-02-07", "close": 222.712524, "volume": 3726933, "typical_volume": 2147922.1, "trend": 228.668117, "fair_value": 246.529052, "relative_strength": -8.488542, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 15.102051, "energy": 6.533693, "activity_lines": [ 228.913206, 229.536448, 229.235017, 228.981768 ] }, { "date": "2025-02-14", "close": 223.711243, "volume": 1721828, "typical_volume": 2147219.75, "trend": 228.274853, "fair_value": 246.073718, "relative_strength": -8.268357, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -22.613353, "energy": 17.209632, "activity_lines": [ 226.728332, 228.473945, 228.64456, 228.661969 ] }, { "date": "2025-02-21", "close": 228.205429, "volume": 1470105, "typical_volume": 2092416.0, "trend": 228.228957, "fair_value": 245.679107, "relative_strength": -5.539323, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -16.540377, "energy": 18.209866, "activity_lines": [ 226.503526, 228.345492, 228.533844, 228.65749 ] }, { "date": "2025-02-28", "close": 221.713806, "volume": 2529399, "typical_volume": 2109364.4, "trend": 228.133037, "fair_value": 245.284373, "relative_strength": -9.588163, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -31.711137, "energy": 35.685958, "activity_lines": [ 224.543493, 227.03565, 227.839955, 228.237158 ] }, { "date": "2025-03-07", "close": 219.7164, "volume": 3170890, "typical_volume": 2194430.5, "trend": 227.937263, "fair_value": 244.883219, "relative_strength": -8.844213, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -63.573589, "energy": 57.559741, "activity_lines": [ 222.679235, 225.434195, 227.009942, 227.694149 ] }, { "date": "2025-03-14", "close": 216.720261, "volume": 3719264, "typical_volume": 2212798.5, "trend": 227.608347, "fair_value": 244.379879, "relative_strength": -9.372326, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -69.275299, "energy": 62.103228, "activity_lines": [ 220.515362, 223.486622, 225.97959, 226.970472 ] }, { "date": "2025-03-21", "close": 218.218323, "volume": 1758809, "typical_volume": 2178215.65, "trend": 227.329366, "fair_value": 243.898909, "relative_strength": -8.716518, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -63.458039, "energy": 64.196866, "activity_lines": [ 219.250327, 222.046381, 225.153446, 226.364664 ] }, { "date": "2025-03-28", "close": 218.218323, "volume": 2117149, "typical_volume": 2167560.8, "trend": 227.050385, "fair_value": 243.417938, "relative_strength": -8.675848, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -60.841335, "energy": 61.291969, "activity_lines": [ 218.351486, 220.832014, 224.365065, 225.776854 ] }, { "date": "2025-04-04", "close": 201.739578, "volume": 3595259, "typical_volume": 2255108.4, "trend": 226.438384, "fair_value": 242.808994, "relative_strength": -9.067473, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -87.19816, "energy": 77.776372, "activity_lines": [ 212.625538, 216.919998, 222.049795, 224.143899 ] }, { "date": "2025-04-11", "close": 198.743454, "volume": 6612838, "typical_volume": 2521319.35, "trend": 225.659968, "fair_value": 242.164886, "relative_strength": -9.182966, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -84.035724, "energy": 80.91704, "activity_lines": [ 207.232497, 213.034103, 219.56779, 222.357129 ] }, { "date": "2025-04-18", "close": 203.237656, "volume": 3622126, "typical_volume": 2629415.95, "trend": 224.948176, "fair_value": 241.540013, "relative_strength": -10.362355, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -70.257586, "energy": 77.625508, "activity_lines": [ 204.73572, 210.537325, 217.649058, 220.910529 ] }, { "date": "2025-04-25", "close": 206.233795, "volume": 3437011, "typical_volume": 2717747.35, "trend": 224.003528, "fair_value": 240.946736, "relative_strength": -10.344573, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -65.156977, "energy": 73.476046, "activity_lines": [ 204.136496, 208.939389, 216.120017, 219.703149 ] }, { "date": "2025-05-02", "close": 211.289886, "volume": 4144951, "typical_volume": 2815493.8, "trend": 223.194144, "fair_value": 240.408215, "relative_strength": -9.860498, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -61.104213, "energy": 49.080322, "activity_lines": [ 206.021604, 208.578513, 215.186358, 218.882914 ] }, { "date": "2025-05-09", "close": 209.29187, "volume": 2122747, "typical_volume": 2795352.1, "trend": 222.401341, "fair_value": 239.898384, "relative_strength": -10.063007, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -55.731108, "energy": 38.551079, "activity_lines": [ 207.702603, 208.161917, 214.142674, 217.985993 ] }, { "date": "2025-05-16", "close": 216.284927, "volume": 3031584, "typical_volume": 2930529.75, "trend": 221.691911, "fair_value": 239.430188, "relative_strength": -8.225143, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -38.537247, "energy": 21.840907, "activity_lines": [ 211.211135, 209.242639, 213.842888, 217.591386 ] }, { "date": "2025-05-23", "close": 211.289886, "volume": 1824788, "typical_volume": 2964499.35, "trend": 221.080144, "fair_value": 238.920396, "relative_strength": -10.4178, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -34.146714, "energy": 19.739754, "activity_lines": [ 211.885221, 209.477562, 213.135748, 216.920288 ] }, { "date": "2025-05-30", "close": 214.286896, "volume": 1682709, "typical_volume": 2960977.95, "trend": 220.684763, "fair_value": 238.397894, "relative_strength": -9.482182, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -30.468689, "energy": 18.591234, "activity_lines": [ 213.021495, 210.356131, 212.801433, 216.482014 ] }, { "date": "2025-06-06", "close": 218.782425, "volume": 4017086, "typical_volume": 3025532.95, "trend": 220.40595, "fair_value": 237.901018, "relative_strength": -8.02254, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -19.23449, "energy": 16.035614, "activity_lines": [ 215.119406, 212.123549, 212.973141, 216.359282 ] }, { "date": "2025-06-13", "close": 219.781448, "volume": 4348871, "typical_volume": 3055227.75, "trend": 220.17708, "fair_value": 237.483965, "relative_strength": -7.453477, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -5.092456, "energy": 10.953686, "activity_lines": [ 217.050822, 214.062351, 213.315484, 216.318992 ] }, { "date": "2025-06-20", "close": 221.279938, "volume": 3101184, "typical_volume": 3087776.55, "trend": 219.981517, "fair_value": 237.10844, "relative_strength": -5.739667, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -0.390879, "energy": 13.276247, "activity_lines": [ 218.782429, 215.945571, 213.86414, 216.390144 ] }, { "date": "2025-06-27", "close": 226.274994, "volume": 3272219, "typical_volume": 3065040.85, "trend": 220.019021, "fair_value": 236.780895, "relative_strength": -3.617752, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 27.551141, "energy": 30.703843, "activity_lines": [ 221.846054, 218.32723, 214.931006, 216.796175 ] }, { "date": "2025-07-04", "close": 229.272003, "volume": 3697391, "typical_volume": 3163819.0, "trend": 219.990016, "fair_value": 236.478945, "relative_strength": -2.363984, "stage": 1, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 34.676124, "energy": 52.517947, "activity_lines": [ 224.909675, 220.834938, 216.266337, 217.393141 ] }, { "date": "2025-07-11", "close": 231.270004, "volume": 5111687, "typical_volume": 3345898.1, "trend": 220.094175, "fair_value": 236.212148, "relative_strength": -2.56324, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 38.394215, "energy": 61.113252, "activity_lines": [ 227.640289, 223.287043, 217.765474, 218.120882 ] }, { "date": "2025-07-18", "close": 235.765549, "volume": 3960954, "typical_volume": 3417475.85, "trend": 220.431389, "fair_value": 235.92948, "relative_strength": -1.042079, "stage": 2, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 52.746515, "energy": 71.59036, "activity_lines": [ 231.036913, 226.193245, 219.678165, 219.131939 ] }, { "date": "2025-07-25", "close": 228.83284, "volume": 5885615, "typical_volume": 3553212.1, "trend": 220.371105, "fair_value": 235.646688, "relative_strength": -5.121782, "stage": 2, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 37.51303, "energy": 63.815215, "activity_lines": [ 231.057027, 227.357614, 220.863685, 219.673968 ] }, { "date": "2025-08-01", "close": 224.835754, "volume": 3051967, "typical_volume": 3519847.25, "trend": 220.210867, "fair_value": 235.328695, "relative_strength": -6.064441, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 33.687831, "energy": 47.596485, "activity_lines": [ 229.241253, 227.567097, 221.625118, 219.96201 ] }, { "date": "2025-08-08", "close": 229.332474, "volume": 2872254, "typical_volume": 3575519.5, "trend": 220.167238, "fair_value": 235.013985, "relative_strength": -4.303507, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "up", "direction": 59.301892, "energy": 41.901855, "activity_lines": [ 229.020334, 228.347877, 222.776165, 220.5505 ] }, { "date": "2025-08-15", "close": 228.333206, "volume": 2688879, "typical_volume": 3604106.0, "trend": 219.957174, "fair_value": 234.689677, "relative_strength": -5.012974, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "up", "direction": 44.4887, "energy": 29.831454, "activity_lines": [ 228.462294, 228.673416, 223.77912, 221.077337 ] }, { "date": "2025-08-22", "close": 229.832108, "volume": 3058878, "typical_volume": 3577286.95, "trend": 219.846996, "fair_value": 234.346241, "relative_strength": -6.08611, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 46.366955, "energy": 30.275657, "activity_lines": [ 228.599676, 229.097832, 224.876661, 221.71443 ] }, { "date": "2025-08-29", "close": 230.831375, "volume": 2245901, "typical_volume": 3358940.1, "trend": 219.867946, "fair_value": 234.037947, "relative_strength": -4.165904, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 50.098358, "energy": 35.24045, "activity_lines": [ 229.465708, 229.521193, 225.935596, 222.423099 ] }, { "date": "2025-09-05", "close": 232.330292, "volume": 3563071, "typical_volume": 3355987.35, "trend": 220.188538, "fair_value": 233.710525, "relative_strength": -3.644407, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 63.101203, "energy": 45.647254, "activity_lines": [ 230.698145, 230.043422, 226.984485, 223.227122 ] }, { "date": "2025-09-12", "close": 241.323715, "volume": 3763044, "typical_volume": 3372289.0, "trend": 220.775621, "fair_value": 233.466296, "relative_strength": -0.662165, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 82.032859, "energy": 71.90624, "activity_lines": [ 234.428753, 232.090723, 228.751355, 224.590681 ] }, { "date": "2025-09-19", "close": 241.323715, "volume": 2880038, "typical_volume": 3309043.35, "trend": 221.212897, "fair_value": 233.196525, "relative_strength": 0.13704, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 77.573681, "energy": 79.378817, "activity_lines": [ 237.359945, 233.918902, 230.35113, 225.916365 ] }, { "date": "2025-09-26", "close": 239.824799, "volume": 2368618, "typical_volume": 3321336.9, "trend": 221.816596, "fair_value": 233.048051, "relative_strength": -1.04297, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 69.687142, "energy": 78.930328, "activity_lines": [ 238.925464, 235.291756, 231.665132, 227.117133 ] }, { "date": "2025-10-03", "close": 244.321518, "volume": 3663631, "typical_volume": 3352939.25, "trend": 222.636767, "fair_value": 232.906052, "relative_strength": -1.183802, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 77.685341, "energy": 84.182789, "activity_lines": [ 241.32371, 237.40839, 233.261999, 228.569063 ] }, { "date": "2025-10-10", "close": 239.32518, "volume": 4642292, "typical_volume": 3493814.45, "trend": 223.390264, "fair_value": 232.786304, "relative_strength": -2.343836, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 64.774397, "energy": 69.077849, "activity_lines": [ 241.157168, 238.334988, 234.249517, 229.645735 ] }, { "date": "2025-10-17", "close": 241.323715, "volume": 5048205, "typical_volume": 3662089.25, "trend": 224.160444, "fair_value": 232.692138, "relative_strength": -0.56781, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 63.822514, "energy": 53.255316, "activity_lines": [ 241.190477, 239.361511, 235.293869, 230.802732 ] }, { "date": "2025-10-24", "close": 248.318604, "volume": 4884839, "typical_volume": 3705476.9, "trend": 225.163787, "fair_value": 232.738229, "relative_strength": -0.618109, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 79.940575, "energy": 61.387632, "activity_lines": [ 243.555417, 241.441809, 236.875655, 232.361323 ] }, { "date": "2025-10-31", "close": 243.882004, "volume": 6606290, "typical_volume": 3818347.85, "trend": 226.568534, "fair_value": 232.660072, "relative_strength": -2.929566, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 61.238461, "energy": 50.362301, "activity_lines": [ 243.975164, 242.352082, 237.894259, 233.56895 ] }, { "date": "2025-11-07", "close": 237.884918, "volume": 3846970, "typical_volume": 3855637.15, "trend": 227.87325, "fair_value": 232.505149, "relative_strength": -4.724198, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 57.097582, "energy": 42.526809, "activity_lines": [ 242.125402, 241.916523, 238.226948, 234.299039 ] }, { "date": "2025-11-14", "close": 236.385635, "volume": 3655846, "typical_volume": 3874818.5, "trend": 228.978182, "fair_value": 232.327841, "relative_strength": -5.214991, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 41.804786, "energy": 29.63895, "activity_lines": [ 240.204985, 241.080121, 238.337776, 234.848225 ] }, { "date": "2025-11-21", "close": 230.88829, "volume": 2485491, "typical_volume": 3814223.5, "trend": 229.799999, "fair_value": 232.129665, "relative_strength": -5.647014, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 17.471074, "energy": 15.886891, "activity_lines": [ 236.64809, 239.170469, 237.876902, 234.971458 ] }, { "date": "2025-11-28", "close": 236.885391, "volume": 2563934, "typical_volume": 3686835.85, "trend": 230.653182, "fair_value": 231.939593, "relative_strength": -4.79709, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 23.801362, "energy": 20.348179, "activity_lines": [ 235.785924, 238.540933, 237.979483, 235.42858 ] }, { "date": "2025-12-05", "close": 239.384186, "volume": 3555337, "typical_volume": 3666555.0, "trend": 231.65626, "fair_value": 231.755958, "relative_strength": -3.046528, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 27.329509, "energy": 18.484419, "activity_lines": [ 236.518903, 238.44642, 238.293305, 235.99187 ] }, { "date": "2025-12-12", "close": 236.885391, "volume": 2820802, "typical_volume": 3513314.35, "trend": 232.342942, "fair_value": 231.569079, "relative_strength": -3.666629, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 15.633799, "energy": 12.481669, "activity_lines": [ 236.718806, 237.905592, 238.351915, 236.329234 ] }, { "date": "2025-12-19", "close": 237.884918, "volume": 5684583, "typical_volume": 3644945.15, "trend": 233.229443, "fair_value": 231.366253, "relative_strength": -5.411438, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 18.488695, "energy": 9.755602, "activity_lines": [ 237.318519, 237.681699, 238.467373, 236.686781 ] }, { "date": "2025-12-26", "close": 235.88588, "volume": 1783243, "typical_volume": 3590494.6, "trend": 233.949409, "fair_value": 231.133047, "relative_strength": -5.638177, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 22.515822, "energy": 11.096939, "activity_lines": [ 237.151934, 237.120531, 238.330307, 236.858164 ] }, { "date": "2026-01-02", "close": 245.381287, "volume": 2160225, "typical_volume": 3564061.9, "trend": 234.836038, "fair_value": 230.908015, "relative_strength": -2.390811, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 47.197631, "energy": 23.904837, "activity_lines": [ 239.817312, 238.38467, 239.066359, 237.595704 ] }, { "date": "2026-01-09", "close": 244.38176, "volume": 5246297, "typical_volume": 3673432.85, "trend": 235.656048, "fair_value": 230.641447, "relative_strength": -4.175319, "stage": 2, "regime": "deceleration", "modifier": "Re-acceleration watch", "gate": "up", "direction": 45.465724, "energy": 34.905672, "activity_lines": [ 241.583121, 239.520483, 239.626036, 238.211557 ] }, { "date": "2026-01-16", "close": 251.378387, "volume": 4355500, "typical_volume": 3778912.8, "trend": 236.65933, "fair_value": 230.403761, "relative_strength": -2.272064, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 68.23863, "energy": 60.314376, "activity_lines": [ 245.347968, 241.919323, 240.782775, 239.225902 ] }, { "date": "2026-01-23", "close": 252.877655, "volume": 6541586, "typical_volume": 3927838.55, "trend": 237.546085, "fair_value": 230.152952, "relative_strength": -0.609123, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 69.930204, "energy": 70.468645, "activity_lines": [ 248.64637, 244.345422, 241.984459, 240.272245 ] }, { "date": "2026-01-30", "close": 246.440964, "volume": 7907351, "typical_volume": 4135053.9, "trend": 238.118384, "fair_value": 229.892824, "relative_strength": -3.718211, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 57.555742, "energy": 63.192311, "activity_lines": [ 248.799694, 245.301358, 242.475279, 240.846108 ] }, { "date": "2026-02-06", "close": 247.44072, "volume": 5739171, "typical_volume": 4278010.55, "trend": 238.657408, "fair_value": 229.677436, "relative_strength": -4.564237, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 58.250107, "energy": 58.824717, "activity_lines": [ 248.582597, 246.156292, 243.036947, 241.447549 ] }, { "date": "2026-02-13", "close": 251.439774, "volume": 3900192, "typical_volume": 4354589.25, "trend": 239.179882, "fair_value": 229.51643, "relative_strength": -3.618141, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 63.313921, "energy": 50.867684, "activity_lines": [ 249.561223, 247.546412, 243.950348, 242.272218 ] }, { "date": "2026-02-20", "close": 263.43689, "volume": 3497618, "typical_volume": 4346288.6, "trend": 240.33335, "fair_value": 229.467466, "relative_strength": -1.162274, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 82.736994, "energy": 66.506258, "activity_lines": [ 254.068353, 250.898633, 245.951023, 243.837186 ] }, { "date": "2026-02-27", "close": 269.935333, "volume": 5932870, "typical_volume": 4410817.5, "trend": 241.836669, "fair_value": 229.447382, "relative_strength": -0.76798, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 86.181548, "energy": 83.599508, "activity_lines": [ 259.93773, 254.949635, 248.479571, 245.746992 ] }, { "date": "2026-03-06", "close": 249.940125, "volume": 7355666, "typical_volume": 4526190.55, "trend": 242.523591, "fair_value": 229.385367, "relative_strength": -2.451686, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 60.133375, "energy": 62.22179, "activity_lines": [ 258.00486, 254.782409, 248.958051, 246.269795 ] }, { "date": "2026-03-13", "close": 250.93988, "volume": 6223839, "typical_volume": 4593140.55, "trend": 243.277147, "fair_value": 229.345733, "relative_strength": -1.786929, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 56.842412, "energy": 42.231571, "activity_lines": [ 256.171964, 254.541426, 249.490715, 246.812782 ] }, { "date": "2026-03-20", "close": 248.940369, "volume": 4319846, "typical_volume": 4478818.35, "trend": 243.914089, "fair_value": 229.296475, "relative_strength": 0.809644, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 41.137449, "energy": 25.512278, "activity_lines": [ 253.439286, 253.835829, 249.820467, 247.178151 ] }, { "date": "2026-03-27", "close": 245.441208, "volume": 5349311, "typical_volume": 4553935.4, "trend": 244.401083, "fair_value": 229.207218, "relative_strength": -1.052863, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 25.55578, "energy": 18.3878, "activity_lines": [ 249.706849, 252.411138, 249.792879, 247.276675 ] }, { "date": "2026-04-03", "close": 248.440491, "volume": 7070452, "typical_volume": 4724665.7, "trend": 244.93809, "fair_value": 229.141979, "relative_strength": -4.251985, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 25.650467, "energy": 17.828427, "activity_lines": [ 248.173885, 251.63972, 250.014954, 247.537282 ] }, { "date": "2026-04-10", "close": 254.938934, "volume": 5668948, "typical_volume": 4883838.55, "trend": 245.391931, "fair_value": 229.099231, "relative_strength": -3.201676, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 32.652914, "energy": 17.089367, "activity_lines": [ 250.240058, 252.130512, 250.798524, 248.182497 ] }, { "date": "2026-04-17", "close": 265.93631, "volume": 7083521, "typical_volume": 5109817.9, "trend": 246.212351, "fair_value": 229.130173, "relative_strength": 0.310008, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 59.900503, "energy": 28.854263, "activity_lines": [ 255.63877, 254.466319, 252.514937, 249.507941 ] }, { "date": "2026-04-24", "close": 262.937012, "volume": 7515116, "typical_volume": 5307806.85, "trend": 246.982758, "fair_value": 229.214984, "relative_strength": 1.870345, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 56.160174, "energy": 42.317823, "activity_lines": [ 259.037953, 255.920516, 253.807364, 250.586952 ] }, { "date": "2026-05-01", "close": 259.5, "volume": 4762159, "typical_volume": 5404874.7, "trend": 247.488707, "fair_value": 229.280958, "relative_strength": 0.65038, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 50.892989, "energy": 47.196211, "activity_lines": [ 260.358356, 256.54076, 254.660301, 251.394516 ] }, { "date": "2026-05-08", "close": 267.5, "volume": 4569973, "typical_volume": 5349144.2, "trend": 248.427868, "fair_value": 229.414188, "relative_strength": 4.943519, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 61.234667, "energy": 55.161188, "activity_lines": [ 263.408173, 258.68713, 256.167454, 252.685567 ] }, { "date": "2026-05-15", "close": 265.0, "volume": 3388379, "typical_volume": 5429401.0, "trend": 249.217077, "fair_value": 229.515418, "relative_strength": 4.259608, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 56.232166, "energy": 46.956162, "activity_lines": [ 264.354022, 260.423233, 257.295487, 253.754737 ] }, { "date": "2026-05-22", "close": 265.5, "volume": 3918159, "typical_volume": 5517297.7, "trend": 249.78979, "fair_value": 229.632633, "relative_strength": 1.663978, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 55.746949, "energy": 37.889631, "activity_lines": [ 264.795801, 261.976429, 258.332501, 254.805248 ] }, { "date": "2026-05-29", "close": 270.5, "volume": 3362333, "typical_volume": 5423099.5, "trend": 250.677057, "fair_value": 229.791485, "relative_strength": 4.020753, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 62.032228, "energy": 44.01171, "activity_lines": [ 266.933333, 264.173987, 259.749902, 256.14139 ] }, { "date": "2026-06-05", "close": 263.0, "volume": 1438341, "typical_volume": 5277241.55, "trend": 251.514226, "fair_value": 229.870309, "relative_strength": 1.490766, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 53.489579, "energy": 33.580746, "activity_lines": [ 266.066667, 264.615915, 260.328645, 256.936419 ] }, { "date": "2026-06-12", "close": 271.5, "volume": 1325108, "typical_volume": 5016417.65, "trend": 252.684705, "fair_value": 230.006816, "relative_strength": 3.64705, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 62.672052, "energy": 40.136208, "activity_lines": [ 267.8, 266.284047, 261.66157, 258.225824 ] }, { "date": "2026-06-19", "close": 277.5, "volume": 1769262, "typical_volume": 4709513.2, "trend": 254.238429, "fair_value": 230.252074, "relative_strength": 6.91754, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 70.130825, "energy": 55.798663, "activity_lines": [ 271.266667, 268.623824, 263.477246, 259.82681 ] }, { "date": "2026-06-26", "close": 257.4904, "volume": 1667573, "typical_volume": 4505933.3, "trend": 254.925262, "fair_value": 230.36587, "relative_strength": -2.066925, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 45.106979, "energy": 26.758934, "activity_lines": [ 267.230133, 266.915291, 263.239346, 260.036615 ] }, { "date": "2026-07-03", "close": 255.0521, "volume": 1703661, "typical_volume": 4396106.75, "trend": 255.447526, "fair_value": 230.486401, "relative_strength": -4.393134, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 23.22761, "energy": 13.282783, "activity_lines": [ 262.914807, 264.916993, 262.721371, 260.044798 ] }, { "date": "2026-07-10", "close": 255.5397, "volume": 6418227, "typical_volume": 4542137.2, "trend": 256.069337, "fair_value": 230.590888, "relative_strength": -2.437958, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 15.053809, "energy": 13.277415, "activity_lines": [ 259.791873, 263.150711, 262.232633, 260.050745 ] }, { "date": "2026-07-17", "close": 247.737, "volume": 8978302, "typical_volume": 4694408.8, "trend": 256.397739, "fair_value": 230.635772, "relative_strength": -6.13077, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "mixed", "direction": -28.149258, "energy": 30.559128, "activity_lines": [ 254.565393, 260.037762, 261.038386, 259.513175 ] }, { "date": "2026-07-24", "close": 254.5644, "volume": 8157606, "typical_volume": 4734505.8, "trend": 257.020357, "fair_value": 230.727232, "relative_strength": -4.662277, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -16.623368, "energy": 27.600677, "activity_lines": [ 253.198913, 258.525485, 260.600074, 259.394895 ] }, { "date": "2026-07-31", "close": 256.5, "volume": 18671062, "typical_volume": 5356866.95, "trend": 257.39098, "fair_value": 230.863057, "relative_strength": -5.015705, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -16.175399, "energy": 25.701866, "activity_lines": [ 254.006673, 257.554875, 260.324084, 259.361323 ] }, { "date": "2026-08-07", "close": 256.5, "volume": 8417206, "typical_volume": 5561734.95, "trend": 257.794922, "fair_value": 231.037232, "relative_strength": -5.179693, "stage": 3, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -13.565257, "energy": 22.955346, "activity_lines": [ 254.88046, 256.7479, 260.021618, 259.303841 ] } ], "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." } } }