{ "ticker": { "uuid": "ebe8cf08-057f-4dbe-9d92-e80b6c20c7a5", "symbol": "00954", "name": "CTBC Japan Semiconductor ETF", "exchange": "TAI", "country": "TW", "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": "^TWII", "stage": 2, "stage_name": "Advancing", "phase": "2b", "phase_label": "Stage 2B \u00b7 Advancing", "transition": "stage_2_healthy", "transition_label": "Stage 2 trend intact", "confidence": 92.913, "architecture_regime": "deceleration", "architecture_regime_label": "Deceleration", "architecture_modifier": "Recompressing", "architecture_gate": "up", "architecture_direction": 26.482, "architecture_energy": 26.818, "architecture_maturity": 66.499, "architecture_confidence": 84.4, "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": 49.29, "rotation_up": 21.12, "upward_expansion": 55.4, "deceleration": 91.17, "rotation_down": 39.19, "downward_expansion": 21.4 }, "activity_lines": [ 18.742, 19.628909, 19.158, 18.264688 ], "activity_state": "Compressed", "activity_direction": "Contracting", "rotation_direction": "Weakening", "price_acceptance": 0.0 }, "latest_close": 18.68, "trend_reference": 17.079, "distance_from_trend": 0.093741, "trend_direction": "Improving", "fair_value": 11.585825, "distance_from_fair_value": 0.612315, "fair_value_direction": "Weakening", "relative_strength": -0.871705, "relative_strength_direction": "Weakening", "price_momentum": 0.236267, "excess_performance": -0.143044, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.093741, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.188545, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.612315, "read": "Premium" }, { "label": "Fair Value direction", "positive": false, "value": -0.129336, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.008717, "read": "Lagging" }, { "label": "Relative strength direction", "positive": false, "value": -0.075577, "read": "Weakening" }, { "label": "Price momentum", "positive": true, "value": 0.236267, "read": "Positive" }, { "label": "Volume balance", "positive": true, "value": 1.554272, "read": "Demand-led" } ], "volume": { "latest": 15282164, "relative_activity": 1.208333, "balance": 1.554272, "dry_up": 1.25028, "accumulation_observations": 5, "distribution_observations": 3 }, "risk": { "range_context": 0.097966, "annualized_volatility": 0.410214, "from_high_reference": -0.166444, "from_low_reference": 1.20283 }, "levels": { "trend_reference": 17.079, "fair_value_reference": 11.585825, "structural_low": 13.32, "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis." }, "outcomes": [ { "horizon": "Near term", "sample_count": 1, "median_return": 0.193618, "positive_rate": 1.0, "directional_follow_through": 1.0, "median_excess_return": -0.001461, "regime_survival": 0.0, "best_return": 0.193618, "worst_return": 0.193618, "sufficient": false }, { "horizon": "Intermediate", "sample_count": 1, "median_return": 0.59826, "positive_rate": 1.0, "directional_follow_through": 1.0, "median_excess_return": 0.162057, "regime_survival": 0.0, "best_return": 0.59826, "worst_return": 0.59826, "sufficient": false }, { "horizon": "Extended", "sample_count": 0, "median_return": null, "positive_rate": null, "directional_follow_through": null, "median_excess_return": null, "regime_survival": null, "best_return": null, "worst_return": null, "sufficient": false }, { "horizon": "Full cycle", "sample_count": 0, "median_return": null, "positive_rate": null, "directional_follow_through": null, "median_excess_return": null, "regime_survival": null, "best_return": null, "worst_return": null, "sufficient": false } ], "ledger": [ { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-02-27", "end": "2026-03-27", "tenure": "Developing", "return": -0.129687, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2026-04-03", "end": "2026-04-17", "tenure": "New", "return": 0.170413, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-04-24", "end": "2026-07-24", "tenure": "Established", "return": 0.147254, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2026-07-31", "end": "2026-08-07", "tenure": "New", "return": 0.036051, "active": true } ], "chart_path": [ { "date": "2024-08-09", "close": 10.0, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-08-16", "close": 10.0, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-08-23", "close": 9.82, "volume": 42051125, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-08-30", "close": 9.77, "volume": 13819075, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-09-06", "close": 8.63, "volume": 23663342, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-09-13", "close": 8.96, "volume": 20966697, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-09-20", "close": 9.02, "volume": 9564100, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-09-27", "close": 9.46, "volume": 18020084, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-10-04", "close": 9.23, "volume": 8732865, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-10-11", "close": 9.22, "volume": 7016771, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-10-18", "close": 8.95, "volume": 18402105, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-10-25", "close": 8.61, "volume": 16434189, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-01", "close": 8.84, "volume": 16195047, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-08", "close": 9.14, "volume": 9775031, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-15", "close": 8.61, "volume": 9783409, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-22", "close": 8.63, "volume": 4224778, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-29", "close": 8.55, "volume": 9676523, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-12-06", "close": 8.7, "volume": 8032975, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-12-13", "close": 8.61, "volume": 6297082, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-12-20", "close": 8.28, "volume": 8718717, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-12-27", "close": 8.62, "volume": 6293999, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-03", "close": 8.48, "volume": 5874277, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-10", "close": 9.1, "volume": 14067736, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-17", "close": 8.79, "volume": 10283442, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-24", "close": 9.41, "volume": 6805160, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-02-07", "close": 9.2, "volume": 9093690, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-02-14", "close": 9.2, "volume": 6557315, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-02-21", "close": 9.76, "volume": 9941065, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-02-28", "close": 9.33, "volume": 9830445, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-03-07", "close": 8.64, "volume": 13822380, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-03-14", "close": 8.77, "volume": 7155597, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-03-21", "close": 8.79, "volume": 9121499, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-03-28", "close": 8.31, "volume": 11214585, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-04-04", "close": 7.87, "volume": 9399160, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-04-11", "close": 7.15, "volume": 13211963, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-04-18", "close": 7.23, "volume": 5806177, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-04-25", "close": 7.7, "volume": 6148387, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-02", "close": 7.4, "volume": 6688275, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-09", "close": 7.43, "volume": 8233568, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-16", "close": 7.84, "volume": 7480296, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-23", "close": 7.67, "volume": 2963997, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-30", "close": 7.89, "volume": 4248150, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-06-06", "close": 7.95, "volume": 4358128, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-06-13", "close": 8.03, "volume": 5501669, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-06-20", "close": 8.44, "volume": 5447083, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-06-27", "close": 8.94, "volume": 7970423, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-07-04", "close": 8.92, "volume": 6079129, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-07-11", "close": 9.08, "volume": 2337093, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-07-18", "close": 8.94, "volume": 3439959, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-07-25", "close": 9.13, "volume": 4458656, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-01", "close": 8.61, "volume": 6486418, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-08", "close": 8.65, "volume": 5537802, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-15", "close": 8.95, "volume": 5337712, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-22", "close": 8.7, "volume": 2747080, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-29", "close": 9.01, "volume": 2638340, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-09-05", "close": 8.78, "volume": 5342154, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-09-12", "close": 9.54, "volume": 8310011, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-09-19", "close": 10.25, "volume": 11583302, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-09-26", "close": 10.28, "volume": 10136990, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-10-03", "close": 10.94, "volume": 5632313, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-10-10", "close": 11.19, "volume": 8073598, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-10-17", "close": 11.2, "volume": 8914858, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-10-24", "close": 11.0, "volume": 3716188, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-10-31", "close": 12.68, "volume": 12019417, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-11-07", "close": 11.93, "volume": 14427282, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-11-14", "close": 11.63, "volume": 9653824, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-11-21", "close": 10.87, "volume": 9651048, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-11-28", "close": 11.5, "volume": 5850718, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-12-05", "close": 12.11, "volume": 5669993, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-12-12", "close": 12.03, "volume": 6019289, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-12-19", "close": 11.58, "volume": 4287356, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-12-26", "close": 12.28, "volume": 4225183, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-01-02", "close": 12.22, "volume": 2287470, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-01-09", "close": 12.96, "volume": 8697832, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-01-16", "close": 14.03, "volume": 12525866, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-01-23", "close": 14.61, "volume": 13371717, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-01-30", "close": 15.11, "volume": 14853798, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-02-06", "close": 14.64, "volume": 11306852, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-02-13", "close": 16.309999, "volume": 23263631, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-02-27", "close": 16.27, "volume": 21024179, "typical_volume": 9992004.95, "trend": 11.662, "fair_value": 9.81125, "relative_strength": 14.874956, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 85.995088, "energy": 94.632916, "activity_lines": [ 15.689333, 14.815091, 13.614524, 12.809763 ] }, { "date": "2026-03-06", "close": 15.17, "volume": 22493166, "typical_volume": 10712983.35, "trend": 11.880667, "fair_value": 9.877407, "relative_strength": 12.640678, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 67.985649, "energy": 69.634194, "activity_lines": [ 15.616666, 15.027636, 13.839524, 13.036086 ] }, { "date": "2026-03-13", "close": 14.4, "volume": 19924094, "typical_volume": 11263445.15, "trend": 12.072333, "fair_value": 9.932561, "relative_strength": 7.311674, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 65.477117, "energy": 64.435371, "activity_lines": [ 15.25, 15.034909, 13.972238, 13.198624 ] }, { "date": "2026-03-20", "close": 14.6, "volume": 10183824, "typical_volume": 11586826.95, "trend": 12.260667, "fair_value": 9.988795, "relative_strength": 8.149928, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 51.471209, "energy": 48.889217, "activity_lines": [ 14.997333, 15.04, 14.108762, 13.361699 ] }, { "date": "2026-03-27", "close": 14.16, "volume": 13307748, "typical_volume": 11651243.5, "trend": 12.442667, "fair_value": 10.038452, "relative_strength": 6.095348, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 42.48412, "energy": 30.033097, "activity_lines": [ 14.600667, 14.921818, 14.186238, 13.484237 ] }, { "date": "2026-04-03", "close": 13.79, "volume": 9773741, "typical_volume": 11418566.45, "trend": 12.602, "fair_value": 10.082588, "relative_strength": 4.842973, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 34.366911, "energy": 28.121642, "activity_lines": [ 14.224, 14.714545, 14.221429, 13.571161 ] }, { "date": "2026-04-10", "close": 15.59, "volume": 13845072, "typical_volume": 11628128.85, "trend": 12.829, "fair_value": 10.146628, "relative_strength": 8.64017, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 52.596798, "energy": 28.134309, "activity_lines": [ 14.612667, 14.838909, 14.41919, 13.763935 ] }, { "date": "2026-04-17", "close": 16.139999, "volume": 13875348, "typical_volume": 11839343.85, "trend": 13.049, "fair_value": 10.215517, "relative_strength": 7.865037, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 71.051137, "energy": 42.633353, "activity_lines": [ 15.156666, 15.045454, 14.650476, 13.977548 ] }, { "date": "2026-04-24", "close": 16.57, "volume": 13018505, "typical_volume": 12197733.2, "trend": 13.259667, "fair_value": 10.287727, "relative_strength": 4.424783, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 76.266737, "energy": 55.988312, "activity_lines": [ 15.728, 15.311454, 14.897619, 14.20471 ] }, { "date": "2026-05-01", "close": 16.459999, "volume": 8143744, "typical_volume": 12321420.75, "trend": 13.465667, "fair_value": 10.357079, "relative_strength": 3.574021, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 70.943051, "energy": 75.57818, "activity_lines": [ 16.131333, 15.522363, 15.110143, 14.411183 ] }, { "date": "2026-05-08", "close": 18.190001, "volume": 10151433, "typical_volume": 12528027.95, "trend": 13.707333, "fair_value": 10.444111, "relative_strength": 6.685978, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 87.772776, "energy": 90.484733, "activity_lines": [ 16.958, 16.045091, 15.466714, 14.715978 ] }, { "date": "2026-05-15", "close": 17.26, "volume": 15453130, "typical_volume": 13086316.65, "trend": 13.909667, "fair_value": 10.519011, "relative_strength": 1.986454, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 69.075223, "energy": 81.966843, "activity_lines": [ 17.181333, 16.363818, 15.705381, 14.945183 ] }, { "date": "2026-05-22", "close": 17.6, "volume": 14702782, "typical_volume": 13610196.6, "trend": 14.123, "fair_value": 10.595978, "relative_strength": 1.028166, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 71.517865, "energy": 79.909724, "activity_lines": [ 17.406667, 16.706364, 15.949381, 15.183269 ] }, { "date": "2026-05-29", "close": 18.4, "volume": 4354109, "typical_volume": 13713528.55, "trend": 14.369667, "fair_value": 10.679892, "relative_strength": -0.464927, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 79.478712, "energy": 80.59505, "activity_lines": [ 17.801333, 17.136182, 16.244238, 15.459204 ] }, { "date": "2026-06-05", "close": 19.280001, "volume": 22408367, "typical_volume": 14399055.3, "trend": 14.589667, "fair_value": 10.771383, "relative_strength": 3.233868, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 84.022929, "energy": 75.351826, "activity_lines": [ 18.367334, 17.656909, 16.593476, 15.776 ] }, { "date": "2026-06-12", "close": 19.93, "volume": 4893601, "typical_volume": 14017442.05, "trend": 14.856333, "fair_value": 10.867789, "relative_strength": 8.469445, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 86.347579, "energy": 89.733822, "activity_lines": [ 18.962, 18.202727, 16.974524, 16.120538 ] }, { "date": "2026-06-19", "close": 21.84, "volume": 25161911, "typical_volume": 14606951.75, "trend": 15.196667, "fair_value": 10.982083, "relative_strength": 12.438548, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 93.557626, "energy": 95.597811, "activity_lines": [ 20.077334, 18.984182, 17.509381, 16.571097 ] }, { "date": "2026-06-26", "close": 21.5, "volume": 4859709, "typical_volume": 14107247.3, "trend": 15.551, "fair_value": 11.090515, "relative_strength": 14.864319, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 82.450054, "energy": 92.551884, "activity_lines": [ 20.774, 19.590182, 17.977429, 16.977763 ] }, { "date": "2026-07-03", "close": 22.040001, "volume": 3870750, "typical_volume": 13735442.2, "trend": 15.902333, "fair_value": 11.202245, "relative_strength": 11.804399, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 81.284565, "energy": 92.252455, "activity_lines": [ 21.390667, 20.196909, 18.466476, 17.396409 ] }, { "date": "2026-07-10", "close": 21.02, "volume": 11875551, "typical_volume": 13166038.2, "trend": 16.199333, "fair_value": 11.301414, "relative_strength": 9.643243, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 68.086893, "energy": 83.07378, "activity_lines": [ 21.424667, 20.518728, 18.823143, 17.726581 ] }, { "date": "2026-07-17", "close": 18.780001, "volume": 16640874, "typical_volume": 12946872.95, "trend": 16.424333, "fair_value": 11.3762, "relative_strength": 3.925275, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 63.680481, "energy": 57.661551, "activity_lines": [ 20.596001, 20.350364, 18.944048, 17.893075 ] }, { "date": "2026-07-24", "close": 19.01, "volume": 13276603, "typical_volume": 12486044.8, "trend": 16.672, "fair_value": 11.451782, "relative_strength": 2.58036, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 47.285351, "energy": 37.985715, "activity_lines": [ 19.920667, 20.213091, 19.074905, 18.059893 ] }, { "date": "2026-07-31", "close": 18.030001, "volume": 18051099, "typical_volume": 12392395.05, "trend": 16.863667, "fair_value": 11.516275, "relative_strength": -1.62249, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 32.066811, "energy": 25.038131, "activity_lines": [ 19.107334, 19.865819, 19.094143, 18.147506 ] }, { "date": "2026-08-07", "close": 18.68, "volume": 15282164, "typical_volume": 12647312.05, "trend": 17.079, "fair_value": 11.585825, "relative_strength": -0.871705, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 26.481876, "energy": 26.817848, "activity_lines": [ 18.742, 19.628909, 19.158, 18.264688 ] } ], "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." } } }