{ "ticker": { "uuid": "ee567459-23e0-406b-9d4b-6ad8ff4cbad0", "symbol": "IMTX", "name": "Immatics NV", "exchange": "NASDAQ", "country": "US", "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": "QQQ", "stage": 4, "stage_name": "Declining", "phase": "4a", "phase_label": "Stage 4A \u00b7 Breakdown", "transition": "stage_4_declining", "transition_label": "Stage 4 decline intact", "confidence": 67.397, "architecture_regime": "rotation_down", "architecture_regime_label": "Rotation Down", "architecture_modifier": "Structural failure", "architecture_gate": "down", "architecture_direction": -54.094, "architecture_energy": 38.97, "architecture_maturity": 15.21, "architecture_confidence": 93.681, "architecture_tenure": "Developing", "architecture": { "interpretation": { "headline": "The Activity Line structure is rotating downward.", "body": "Fast Activity is weakening relative to Slow Activity and price acceptance is deteriorating. Persistent negative Trend confirmation would establish Downward Expansion." }, "scores": { "balance": 35.76, "rotation_up": 14.97, "upward_expansion": 5.74, "deceleration": 45.23, "rotation_down": 56.4, "downward_expansion": 79.07 }, "activity_lines": [ 9.266, 9.418364, 9.917, 10.014559 ], "activity_state": "Moderate", "activity_direction": "Expanding", "rotation_direction": "Weakening", "price_acceptance": -0.666667 }, "latest_close": 9.65, "trend_reference": 10.053333, "distance_from_trend": -0.040119, "trend_direction": "Weakening", "fair_value": 9.193333, "distance_from_fair_value": 0.049674, "fair_value_direction": "Weakening", "relative_strength": -11.167482, "relative_strength_direction": "Weakening", "price_momentum": 0.002077, "excess_performance": -0.185377, "evidence": [ { "label": "Price vs Trend", "positive": false, "value": -0.040119, "read": "Below" }, { "label": "Trend direction", "positive": false, "value": -0.017558, "read": "Falling" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.049674, "read": "Premium" }, { "label": "Fair Value direction", "positive": false, "value": -0.17093, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.111675, "read": "Lagging" }, { "label": "Relative strength direction", "positive": false, "value": -0.237074, "read": "Weakening" }, { "label": "Price momentum", "positive": true, "value": 0.002077, "read": "Positive" }, { "label": "Volume balance", "positive": false, "value": 0.349615, "read": "Supply-led" } ], "volume": { "latest": 2006498, "relative_activity": 0.932056, "balance": 0.349615, "dry_up": 0.936984, "accumulation_observations": 1, "distribution_observations": 4 }, "risk": { "range_context": 0.129872, "annualized_volatility": 0.413892, "from_high_reference": -0.222401, "from_low_reference": 0.910891 }, "levels": { "trend_reference": 10.053333, "fair_value_reference": 9.193333, "structural_low": 8.17, "invalidation": "Reclaiming a flat-to-rising Trend with improving relative strength is required before the declining diagnosis is repaired." }, "outcomes": [ { "horizon": "Near term", "sample_count": 5, "median_return": -0.0907, "positive_rate": 0.4, "directional_follow_through": 0.6, "median_excess_return": -0.095113, "regime_survival": 0.2, "best_return": 0.168831, "worst_return": -0.173077, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 4, "median_return": 0.010482, "positive_rate": 0.5, "directional_follow_through": 0.5, "median_excess_return": -0.131017, "regime_survival": 0.0, "best_return": 0.54702, "worst_return": -0.458502, "sufficient": false }, { "horizon": "Extended", "sample_count": 4, "median_return": 0.124994, "positive_rate": 0.5, "directional_follow_through": 0.5, "median_excess_return": -0.147046, "regime_survival": 0.5, "best_return": 0.325828, "worst_return": -0.511879, "sufficient": false }, { "horizon": "Full cycle", "sample_count": 2, "median_return": -0.169748, "positive_rate": 0.5, "directional_follow_through": 0.5, "median_excess_return": -0.495563, "regime_survival": 0.0, "best_return": 0.208955, "worst_return": -0.548452, "sufficient": false } ], "ledger": [ { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2024-06-21", "end": "2024-08-16", "tenure": "Developing", "return": -0.069523, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2024-08-23", "end": "2024-10-11", "tenure": "Developing", "return": -0.166815, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2024-10-18", "end": "2024-10-25", "tenure": "New", "return": -0.062753, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2024-11-01", "end": "2025-05-30", "tenure": "Extended", "return": -0.422294, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-06-06", "end": "2025-06-13", "tenure": "New", "return": 0.025126, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2025-06-20", "end": "2025-07-11", "tenure": "New", "return": 0.064171, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-07-18", "end": "2025-08-29", "tenure": "Developing", "return": -0.151667, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2025-09-05", "end": "2025-09-26", "tenure": "New", "return": 0.230032, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-10-03", "end": "2026-01-09", "tenure": "Established", "return": -0.024468, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2026-01-16", "end": "2026-03-06", "tenure": "Developing", "return": 0.003052, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-03-13", "end": "2026-04-17", "tenure": "Developing", "return": 0.208874, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-04-24", "end": "2026-06-12", "tenure": "Developing", "return": -0.173568, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-06-19", "end": "2026-06-26", "tenure": "New", "return": -0.026585, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2026-07-03", "end": "2026-08-07", "tenure": "Developing", "return": -0.030151, "active": true } ], "chart_path": [ { "date": "2023-08-18", "close": 12.21, "volume": 1268493, "typical_volume": 2173675.6, "trend": 9.568, "fair_value": 10.466795, "relative_strength": 6.523761, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 62.639307, "energy": 48.846814, "activity_lines": [ 12.155333, 11.966545, 11.342143, 10.497247 ] }, { "date": "2023-08-25", "close": 12.25, "volume": 987291, "typical_volume": 2160547.3, "trend": 9.712333, "fair_value": 10.483269, "relative_strength": 5.568938, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 62.269398, "energy": 45.810101, "activity_lines": [ 12.201333, 12.025636, 11.520238, 10.67028 ] }, { "date": "2023-09-01", "close": 12.24, "volume": 1370763, "typical_volume": 2081483.45, "trend": 9.842333, "fair_value": 10.501474, "relative_strength": 2.281314, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 59.716357, "energy": 41.317032, "activity_lines": [ 12.219333, 12.091455, 11.669714, 10.833355 ] }, { "date": "2023-09-08", "close": 12.18, "volume": 923566, "typical_volume": 2066359.05, "trend": 9.972667, "fair_value": 10.52109, "relative_strength": 3.743578, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 56.82473, "energy": 38.387233, "activity_lines": [ 12.21, 12.135455, 11.784857, 10.984172 ] }, { "date": "2023-09-15", "close": 12.19, "volume": 2122205, "typical_volume": 2114691.0, "trend": 10.086333, "fair_value": 10.540321, "relative_strength": 4.527861, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 54.080452, "energy": 35.1834, "activity_lines": [ 12.206667, 12.169636, 11.878381, 11.127226 ] }, { "date": "2023-09-22", "close": 11.71, "volume": 1602518, "typical_volume": 1842178.25, "trend": 10.189, "fair_value": 10.550449, "relative_strength": 3.902486, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 40.728222, "energy": 26.325558, "activity_lines": [ 12.038667, 12.104727, 11.90219, 11.231978 ] }, { "date": "2023-09-29", "close": 11.58, "volume": 2380059, "typical_volume": 1893586.1, "trend": 10.288667, "fair_value": 10.555577, "relative_strength": 2.982222, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 35.384264, "energy": 19.487805, "activity_lines": [ 11.860667, 12.007818, 11.905952, 11.32172 ] }, { "date": "2023-10-06", "close": 9.98, "volume": 2353224, "typical_volume": 1928369.35, "trend": 10.365667, "fair_value": 10.544359, "relative_strength": -12.253162, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -7.128541, "energy": 13.896223, "activity_lines": [ 11.194, 11.625455, 11.749619, 11.301806 ] }, { "date": "2023-10-13", "close": 9.8, "volume": 1827709, "typical_volume": 1964174.2, "trend": 10.439, "fair_value": 10.534295, "relative_strength": -13.11568, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -13.442442, "energy": 26.406009, "activity_lines": [ 10.618, 11.249455, 11.575143, 11.265312 ] }, { "date": "2023-10-20", "close": 8.72, "volume": 1903989, "typical_volume": 1919473.25, "trend": 10.505, "fair_value": 10.517885, "relative_strength": -19.650118, "stage": 3, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -42.632942, "energy": 59.321041, "activity_lines": [ 9.840667, 10.721091, 11.298048, 11.154409 ] }, { "date": "2023-10-27", "close": 7.55, "volume": 3472878, "typical_volume": 1981533.6, "trend": 10.526667, "fair_value": 10.499744, "relative_strength": -27.668828, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -59.377197, "energy": 77.950261, "activity_lines": [ 8.904667, 10.041818, 10.916476, 10.963763 ] }, { "date": "2023-11-03", "close": 9.61, "volume": 3181062, "typical_volume": 1883517.8, "trend": 10.632333, "fair_value": 10.497756, "relative_strength": -12.777914, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -36.968091, "energy": 66.866503, "activity_lines": [ 8.932667, 9.821818, 10.748619, 10.904624 ] }, { "date": "2023-11-10", "close": 9.42, "volume": 4595261, "typical_volume": 2011497.35, "trend": 10.738667, "fair_value": 10.494359, "relative_strength": -16.288167, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -35.497361, "energy": 58.578225, "activity_lines": [ 9.028667, 9.615273, 10.577476, 10.826409 ] }, { "date": "2023-11-17", "close": 8.68, "volume": 1970765, "typical_volume": 2041545.15, "trend": 10.78, "fair_value": 10.482692, "relative_strength": -23.661798, "stage": 4, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -65.377287, "energy": 54.446692, "activity_lines": [ 8.915333, 9.325455, 10.346429, 10.693591 ] }, { "date": "2023-11-24", "close": 8.43, "volume": 2416844, "typical_volume": 2099355.5, "trend": 10.822667, "fair_value": 10.470833, "relative_strength": -25.856371, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -65.41516, "energy": 45.895101, "activity_lines": [ 8.793333, 9.053818, 10.10519, 10.541978 ] }, { "date": "2023-12-01", "close": 9.01, "volume": 1719141, "typical_volume": 2126905.4, "trend": 10.786333, "fair_value": 10.459551, "relative_strength": -20.01813, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -57.239407, "energy": 41.639747, "activity_lines": [ 8.884, 8.956, 9.934, 10.425032 ] }, { "date": "2023-12-08", "close": 9.25, "volume": 1508688, "typical_volume": 2150854.7, "trend": 10.762667, "fair_value": 10.455128, "relative_strength": -17.604142, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -45.941505, "energy": 35.997691, "activity_lines": [ 8.957333, 8.950909, 9.796333, 10.325914 ] }, { "date": "2023-12-15", "close": 9.81, "volume": 2997854, "typical_volume": 2165103.45, "trend": 10.764, "fair_value": 10.453462, "relative_strength": -14.937408, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -41.692958, "energy": 27.911659, "activity_lines": [ 9.241333, 9.09, 9.724524, 10.264452 ] }, { "date": "2023-12-22", "close": 9.9, "volume": 1822727, "typical_volume": 2061498.95, "trend": 10.765667, "fair_value": 10.452885, "relative_strength": -14.515642, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -36.108744, "energy": 19.981518, "activity_lines": [ 9.529333, 9.248545, 9.672333, 10.20871 ] }, { "date": "2023-12-29", "close": 10.53, "volume": 1592643, "typical_volume": 2100884.0, "trend": 10.777333, "fair_value": 10.451218, "relative_strength": -8.930563, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -20.833616, "energy": 17.909931, "activity_lines": [ 9.946, 9.519818, 9.69119, 10.193505 ] }, { "date": "2024-01-05", "close": 10.42, "volume": 811728, "typical_volume": 2078045.75, "trend": 10.750333, "fair_value": 10.4475, "relative_strength": -6.401317, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -5.81526, "energy": 15.286708, "activity_lines": [ 10.186, 9.738182, 9.707143, 10.170452 ] }, { "date": "2024-01-12", "close": 12.55, "volume": 4530381, "typical_volume": 2255200.25, "trend": 10.744667, "fair_value": 10.455, "relative_strength": 9.272575, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 39.207065, "energy": 36.02143, "activity_lines": [ 11.042, 10.291636, 9.934476, 10.286559 ] }, { "date": "2024-01-19", "close": 11.45, "volume": 4014304, "typical_volume": 2387377.3, "trend": 10.738333, "fair_value": 10.456731, "relative_strength": -2.799682, "stage": 3, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 24.265676, "energy": 40.621098, "activity_lines": [ 11.311333, 10.591636, 10.055619, 10.332065 ] }, { "date": "2024-01-26", "close": 11.68, "volume": 2317712, "typical_volume": 2457084.6, "trend": 10.743, "fair_value": 10.463462, "relative_strength": -1.505956, "stage": 3, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 27.306098, "energy": 51.708275, "activity_lines": [ 11.548, 10.896545, 10.202429, 10.392817 ] }, { "date": "2024-02-02", "close": 11.29, "volume": 2722472, "typical_volume": 2487097.95, "trend": 10.734667, "fair_value": 10.465, "relative_strength": -5.876858, "stage": 3, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 25.837489, "energy": 53.229014, "activity_lines": [ 11.536, 11.076, 10.314476, 10.428108 ] }, { "date": "2024-02-09", "close": 11.39, "volume": 1724425, "typical_volume": 2493193.3, "trend": 10.739333, "fair_value": 10.466667, "relative_strength": -6.679376, "stage": 1, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 22.412438, "energy": 35.36033, "activity_lines": [ 11.506667, 11.221636, 10.440333, 10.470387 ] }, { "date": "2024-02-16", "close": 11.67, "volume": 2244486, "typical_volume": 2486414.65, "trend": 10.732333, "fair_value": 10.470064, "relative_strength": -2.795587, "stage": 1, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 34.731089, "energy": 32.713211, "activity_lines": [ 11.506, 11.374909, 10.594381, 10.53043 ] }, { "date": "2024-02-23", "close": 12.22, "volume": 1592133, "typical_volume": 2448360.1, "trend": 10.735333, "fair_value": 10.479231, "relative_strength": 0.462921, "stage": 2, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 41.186462, "energy": 35.568689, "activity_lines": [ 11.747333, 11.584182, 10.800381, 10.626409 ] }, { "date": "2024-03-01", "close": 12.94, "volume": 1651174, "typical_volume": 2439533.35, "trend": 10.759333, "fair_value": 10.495705, "relative_strength": 4.2614, "stage": 2, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "up", "direction": 75.954818, "energy": 63.648379, "activity_lines": [ 12.177333, 11.880545, 11.064286, 10.768645 ] }, { "date": "2024-03-08", "close": 12.27, "volume": 2590044, "typical_volume": 2473836.1, "trend": 10.764333, "fair_value": 10.504167, "relative_strength": 0.265045, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 59.446765, "energy": 59.579084, "activity_lines": [ 12.3, 11.999818, 11.249429, 10.866108 ] }, { "date": "2024-03-15", "close": 12.01, "volume": 2049589, "typical_volume": 2402671.65, "trend": 10.757667, "fair_value": 10.490192, "relative_strength": -0.885071, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 58.776462, "energy": 56.327428, "activity_lines": [ 12.270667, 12.040182, 11.392905, 10.946473 ] }, { "date": "2024-03-22", "close": 11.26, "volume": 3317648, "typical_volume": 2409500.95, "trend": 10.724667, "fair_value": 10.483397, "relative_strength": -9.997233, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 53.46025, "energy": 34.939071, "activity_lines": [ 11.95, 11.915273, 11.443714, 10.978882 ] }, { "date": "2024-03-29", "close": 10.51, "volume": 3063033, "typical_volume": 2332889.55, "trend": 10.667, "fair_value": 10.476154, "relative_strength": -15.660998, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 23.217271, "energy": 16.012365, "activity_lines": [ 11.406667, 11.677455, 11.415238, 10.965032 ] }, { "date": "2024-04-05", "close": 10.58, "volume": 1718457, "typical_volume": 2320274.15, "trend": 10.613667, "fair_value": 10.469103, "relative_strength": -14.629652, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 14.510775, "energy": 18.37516, "activity_lines": [ 11.000667, 11.469455, 11.388238, 10.959419 ] }, { "date": "2024-04-12", "close": 10.61, "volume": 1470023, "typical_volume": 2272933.1, "trend": 10.561, "fair_value": 10.46, "relative_strength": -14.222965, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 1.528579, "energy": 19.639096, "activity_lines": [ 10.762, 11.286909, 11.355048, 10.959183 ] }, { "date": "2024-04-19", "close": 10.21, "volume": 1745122, "typical_volume": 2274232.15, "trend": 10.511, "fair_value": 10.44359, "relative_strength": -12.8123, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -25.503981, "energy": 31.696874, "activity_lines": [ 10.500667, 11.044, 11.273381, 10.936538 ] }, { "date": "2024-04-26", "close": 10.01, "volume": 1789260, "typical_volume": 2288260.75, "trend": 10.458667, "fair_value": 10.429423, "relative_strength": -17.813845, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -28.224724, "energy": 42.663683, "activity_lines": [ 10.292667, 10.786182, 11.166952, 10.904215 ] }, { "date": "2024-05-03", "close": 10.77, "volume": 1772646, "typical_volume": 2227000.35, "trend": 10.485, "fair_value": 10.424615, "relative_strength": -12.07933, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -19.15812, "energy": 33.214332, "activity_lines": [ 10.421333, 10.696727, 11.129286, 10.924301 ] }, { "date": "2024-05-10", "close": 10.83, "volume": 1779367, "typical_volume": 2224832.35, "trend": 10.519333, "fair_value": 10.425321, "relative_strength": -12.525834, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "up", "direction": 2.329111, "energy": 13.069041, "activity_lines": [ 10.552667, 10.644545, 11.092762, 10.946559 ] }, { "date": "2024-05-17", "close": 10.96, "volume": 4436563, "typical_volume": 2367028.35, "trend": 10.594, "fair_value": 10.423141, "relative_strength": -13.080181, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 16.789031, "energy": 11.3582, "activity_lines": [ 10.710667, 10.654364, 11.06419, 10.974989 ] }, { "date": "2024-05-24", "close": 11.7, "volume": 4257598, "typical_volume": 2539321.85, "trend": 10.732333, "fair_value": 10.426154, "relative_strength": -8.281695, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 38.137575, "energy": 21.14816, "activity_lines": [ 11.092, 10.822545, 11.104048, 11.046344 ] }, { "date": "2024-05-31", "close": 11.03, "volume": 3113554, "typical_volume": 2468480.5, "trend": 10.779667, "fair_value": 10.419872, "relative_strength": -11.875888, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 29.10266, "energy": 18.420252, "activity_lines": [ 11.150667, 10.874545, 11.074, 11.065548 ] }, { "date": "2024-06-07", "close": 13.16, "volume": 3963393, "typical_volume": 2465934.95, "trend": 10.904333, "fair_value": 10.425641, "relative_strength": 2.605778, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 69.152328, "energy": 40.931861, "activity_lines": [ 11.851333, 11.318, 11.254048, 11.219118 ] }, { "date": "2024-06-14", "close": 13.02, "volume": 3165791, "typical_volume": 2508338.9, "trend": 11.049, "fair_value": 10.433462, "relative_strength": -1.401715, "stage": 2, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 67.203919, "energy": 60.10434, "activity_lines": [ 12.346, 11.687818, 11.412619, 11.355613 ] }, { "date": "2024-06-21", "close": 12.37, "volume": 1661871, "typical_volume": 2455308.85, "trend": 11.180333, "fair_value": 10.436474, "relative_strength": -6.09021, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 56.79413, "energy": 60.999835, "activity_lines": [ 12.478, 11.895091, 11.502905, 11.440839 ] }, { "date": "2024-06-28", "close": 11.62, "volume": 1263483, "typical_volume": 2432261.75, "trend": 11.267333, "fair_value": 10.435256, "relative_strength": -11.281713, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 55.41261, "energy": 55.028115, "activity_lines": [ 12.266, 11.934, 11.516619, 11.469204 ] }, { "date": "2024-07-05", "close": 11.74, "volume": 1014867, "typical_volume": 2370780.8, "trend": 11.350333, "fair_value": 10.43141, "relative_strength": -12.951846, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 49.765286, "energy": 30.944314, "activity_lines": [ 12.099333, 11.969091, 11.540667, 11.499699 ] }, { "date": "2024-07-12", "close": 12.7, "volume": 2056503, "typical_volume": 2393999.3, "trend": 11.446667, "fair_value": 10.435641, "relative_strength": -5.296236, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 58.415968, "energy": 29.34292, "activity_lines": [ 12.205333, 12.147273, 11.65581, 11.586774 ] }, { "date": "2024-07-19", "close": 12.52, "volume": 951516, "typical_volume": 2359016.4, "trend": 11.534, "fair_value": 10.437628, "relative_strength": -2.41108, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 53.463689, "energy": 26.712845, "activity_lines": [ 12.282, 12.257636, 11.751524, 11.656022 ] }, { "date": "2024-07-26", "close": 12.3, "volume": 1868626, "typical_volume": 2322945.5, "trend": 11.593, "fair_value": 10.438205, "relative_strength": -1.213258, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 48.3613, "energy": 26.794, "activity_lines": [ 12.318667, 12.297273, 11.828286, 11.705441 ] }, { "date": "2024-08-02", "close": 11.61, "volume": 1288966, "typical_volume": 2284914.35, "trend": 11.632667, "fair_value": 10.436026, "relative_strength": -3.302313, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 33.976535, "energy": 19.858107, "activity_lines": [ 12.13, 12.187091, 11.83919, 11.706538 ] }, { "date": "2024-08-09", "close": 11.53, "volume": 878526, "typical_volume": 2162958.25, "trend": 11.598667, "fair_value": 10.433013, "relative_strength": -3.788512, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 26.603599, "energy": 12.337467, "activity_lines": [ 11.915333, 12.064, 11.844381, 11.699914 ] }, { "date": "2024-08-16", "close": 11.51, "volume": 1196065, "typical_volume": 2069609.85, "trend": 11.600667, "fair_value": 10.432564, "relative_strength": -8.263622, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 20.130177, "energy": 13.875064, "activity_lines": [ 11.708, 11.928182, 11.846381, 11.694194 ] }, { "date": "2024-08-23", "close": 11.21, "volume": 1751351, "typical_volume": 2071254.55, "trend": 11.585, "fair_value": 10.427115, "relative_strength": -10.896626, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -16.774833, "energy": 18.335024, "activity_lines": [ 11.48, 11.767818, 11.815048, 11.668989 ] }, { "date": "2024-08-30", "close": 11.09, "volume": 1268377, "typical_volume": 2061172.25, "trend": 11.578333, "fair_value": 10.411987, "relative_strength": -10.546114, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -20.847586, "energy": 24.986764, "activity_lines": [ 11.299333, 11.618545, 11.769286, 11.637054 ] }, { "date": "2024-09-06", "close": 11.73, "volume": 2213322, "typical_volume": 2084582.25, "trend": 11.589667, "fair_value": 10.392308, "relative_strength": 0.937217, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -14.906042, "energy": 22.796866, "activity_lines": [ 11.412667, 11.608909, 11.78219, 11.646839 ] }, { "date": "2024-09-13", "close": 12.68, "volume": 1980188, "typical_volume": 2094128.65, "trend": 11.623333, "fair_value": 10.379744, "relative_strength": 3.488343, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 41.764064, "energy": 16.402778, "activity_lines": [ 11.834667, 11.77, 11.878333, 11.717183 ] }, { "date": "2024-09-20", "close": 12.08, "volume": 2500254, "typical_volume": 2130509.05, "trend": 11.618667, "fair_value": 10.372885, "relative_strength": -2.286818, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 32.467426, "energy": 19.446778, "activity_lines": [ 11.98, 11.804909, 11.904619, 11.746645 ] }, { "date": "2024-09-27", "close": 11.73, "volume": 1328949, "typical_volume": 2107988.15, "trend": 11.578333, "fair_value": 10.363333, "relative_strength": -5.491554, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 30.470486, "energy": 21.806815, "activity_lines": [ 11.970667, 11.787455, 11.891333, 11.753828 ] }, { "date": "2024-10-04", "close": 10.86, "volume": 1731829, "typical_volume": 1972751.45, "trend": 11.531333, "fair_value": 10.347051, "relative_strength": -12.254918, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 7.390874, "energy": 6.598804, "activity_lines": [ 11.636667, 11.626182, 11.790905, 11.707484 ] }, { "date": "2024-10-11", "close": 9.34, "volume": 7782268, "typical_volume": 2148984.95, "trend": 11.442333, "fair_value": 10.318141, "relative_strength": -25.000963, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -50.385762, "energy": 55.063118, "activity_lines": [ 10.811333, 11.214727, 11.54619, 11.566108 ] }, { "date": "2024-10-18", "close": 9.88, "volume": 4941879, "typical_volume": 2240401.2, "trend": 11.396333, "fair_value": 10.298141, "relative_strength": -20.553702, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -41.883073, "energy": 62.931794, "activity_lines": [ 10.325333, 10.942727, 11.364143, 11.465312 ] }, { "date": "2024-10-25", "close": 9.26, "volume": 2664589, "typical_volume": 2175461.0, "trend": 11.354667, "fair_value": 10.265641, "relative_strength": -25.477847, "stage": 4, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -76.925724, "energy": 82.245505, "activity_lines": [ 9.819333, 10.588, 11.128524, 11.327484 ] }, { "date": "2024-11-01", "close": 9.33, "volume": 1490621, "typical_volume": 2091702.5, "trend": 11.313, "fair_value": 10.245321, "relative_strength": -23.277259, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -72.528603, "energy": 83.32893, "activity_lines": [ 9.524667, 10.286909, 10.918143, 11.19686 ] }, { "date": "2024-11-08", "close": 9.25, "volume": 1663319, "typical_volume": 2091774.9, "trend": 11.267667, "fair_value": 10.229744, "relative_strength": -27.491368, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -70.118104, "energy": 81.206807, "activity_lines": [ 9.363333, 10.005455, 10.717714, 11.063763 ] }, { "date": "2024-11-15", "close": 8.17, "volume": 4184867, "typical_volume": 2237844.1, "trend": 11.199667, "fair_value": 10.205897, "relative_strength": -33.3718, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -84.38354, "energy": 86.697128, "activity_lines": [ 8.949333, 9.561091, 10.429286, 10.863914 ] }, { "date": "2024-11-22", "close": 7.59, "volume": 4146080, "typical_volume": 2394404.75, "trend": 11.119, "fair_value": 10.182628, "relative_strength": -38.907376, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -85.425358, "energy": 88.723192, "activity_lines": [ 8.42, 9.076, 10.102048, 10.631032 ] }, { "date": "2024-11-29", "close": 8.32, "volume": 2021207, "typical_volume": 2392639.95, "trend": 11.037333, "fair_value": 10.166282, "relative_strength": -33.187339, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -66.603893, "energy": 76.786746, "activity_lines": [ 8.286667, 8.816182, 9.864095, 10.450452 ] }, { "date": "2024-12-06", "close": 7.85, "volume": 2082689, "typical_volume": 2449198.6, "trend": 10.938, "fair_value": 10.146795, "relative_strength": -38.538392, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -71.710996, "energy": 78.518298, "activity_lines": [ 8.059333, 8.539273, 9.602238, 10.244817 ] }, { "date": "2024-12-13", "close": 7.21, "volume": 2842057, "typical_volume": 2497870.15, "trend": 10.813, "fair_value": 10.114231, "relative_strength": -43.497492, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -78.35797, "energy": 81.796038, "activity_lines": [ 7.717333, 8.216545, 9.301667, 10.004301 ] }, { "date": "2024-12-20", "close": 6.85, "volume": 2844229, "typical_volume": 2575633.3, "trend": 10.651333, "fair_value": 10.075064, "relative_strength": -44.59612, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -79.326685, "energy": 78.916996, "activity_lines": [ 7.391333, 7.894727, 8.991048, 9.748624 ] }, { "date": "2024-12-27", "close": 7.13, "volume": 1279925, "typical_volume": 2595703.25, "trend": 10.521333, "fair_value": 10.034615, "relative_strength": -42.284941, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -69.750001, "energy": 76.522882, "activity_lines": [ 7.246667, 7.669091, 8.729762, 9.521441 ] }, { "date": "2025-01-03", "close": 7.17, "volume": 8148743, "typical_volume": 2943337.15, "trend": 10.321667, "fair_value": 10.003782, "relative_strength": -40.910421, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -65.540836, "energy": 75.618176, "activity_lines": [ 7.146, 7.500727, 8.493238, 9.305226 ] }, { "date": "2025-01-10", "close": 6.43, "volume": 4383962, "typical_volume": 3074967.7, "trend": 10.102, "fair_value": 9.96891, "relative_strength": -44.998603, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -79.792047, "energy": 85.090525, "activity_lines": [ 6.875333, 7.235818, 8.206905, 9.054151 ] }, { "date": "2025-01-17", "close": 5.35, "volume": 3882706, "typical_volume": 3205684.15, "trend": 9.868, "fair_value": 9.935897, "relative_strength": -54.869416, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -89.699254, "energy": 89.31215, "activity_lines": [ 6.339333, 6.827273, 7.840476, 8.74757 ] }, { "date": "2025-01-24", "close": 5.6, "volume": 6200736, "typical_volume": 3405054.85, "trend": 9.667333, "fair_value": 9.910705, "relative_strength": -52.778828, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -79.23409, "energy": 88.526924, "activity_lines": [ 6.010667, 6.535091, 7.52519, 8.472215 ] }, { "date": "2025-01-31", "close": 5.47, "volume": 8749795, "typical_volume": 3743535.2, "trend": 9.458333, "fair_value": 9.88609, "relative_strength": -52.575151, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -75.192867, "energy": 87.139017, "activity_lines": [ 5.722, 6.266, 7.226714, 8.201419 ] }, { "date": "2025-02-07", "close": 5.4, "volume": 4971714, "typical_volume": 3867108.2, "trend": 9.215, "fair_value": 9.861731, "relative_strength": -52.582367, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -71.295179, "energy": 75.744251, "activity_lines": [ 5.520667, 6.022727, 6.955905, 7.939591 ] }, { "date": "2025-02-14", "close": 5.05, "volume": 4691804, "typical_volume": 4035250.95, "trend": 8.966, "fair_value": 9.838782, "relative_strength": -56.219457, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -77.187055, "energy": 75.514097, "activity_lines": [ 5.320667, 5.768909, 6.683571, 7.670882 ] }, { "date": "2025-02-21", "close": 4.6, "volume": 4322843, "typical_volume": 4164801.65, "trend": 8.709333, "fair_value": 9.815897, "relative_strength": -58.483123, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -82.813496, "energy": 76.044538, "activity_lines": [ 5.062667, 5.484182, 6.40019, 7.389204 ] }, { "date": "2025-02-28", "close": 4.38, "volume": 4573489, "typical_volume": 4004362.7, "trend": 8.468333, "fair_value": 9.798269, "relative_strength": -58.291249, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -81.741217, "energy": 80.204306, "activity_lines": [ 4.781333, 5.206909, 6.125667, 7.109892 ] }, { "date": "2025-03-07", "close": 4.66, "volume": 2593151, "typical_volume": 3886926.3, "trend": 8.239333, "fair_value": 9.782756, "relative_strength": -53.33758, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -69.573429, "energy": 74.925148, "activity_lines": [ 4.674667, 5.025455, 5.901429, 6.864194 ] }, { "date": "2025-03-14", "close": 4.55, "volume": 1837217, "typical_volume": 3845557.7, "trend": 8.007333, "fair_value": 9.765641, "relative_strength": -52.460469, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -70.359908, "energy": 71.018408, "activity_lines": [ 4.585333, 4.868909, 5.691571, 6.626172 ] }, { "date": "2025-03-21", "close": 5.0, "volume": 4734546, "typical_volume": 4007753.95, "trend": 7.800333, "fair_value": 9.749744, "relative_strength": -47.125481, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -66.482925, "energy": 64.333804, "activity_lines": [ 4.702667, 4.841818, 5.547, 6.432151 ] }, { "date": "2025-03-28", "close": 4.63, "volume": 4687586, "typical_volume": 4158967.3, "trend": 7.585, "fair_value": 9.72609, "relative_strength": -49.177017, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -67.217543, "energy": 60.722266, "activity_lines": [ 4.7, 4.773455, 5.38781, 6.227613 ] }, { "date": "2025-04-04", "close": 3.5, "volume": 5585824, "typical_volume": 4229015.15, "trend": 7.310667, "fair_value": 9.688462, "relative_strength": -56.694159, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -86.946181, "energy": 69.554176, "activity_lines": [ 4.318667, 4.512727, 5.143, 5.964065 ] }, { "date": "2025-04-11", "close": 4.14, "volume": 4933663, "typical_volume": 4268394.3, "trend": 7.026, "fair_value": 9.659103, "relative_strength": -51.610389, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -67.538485, "energy": 61.596758, "activity_lines": [ 4.209333, 4.406545, 4.981381, 5.759505 ] }, { "date": "2025-04-18", "close": 4.26, "volume": 1265949, "typical_volume": 4230631.4, "trend": 6.765333, "fair_value": 9.635705, "relative_strength": -48.250592, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -64.531767, "energy": 61.72141, "activity_lines": [ 4.174667, 4.346364, 4.847619, 5.581054 ] }, { "date": "2025-04-25", "close": 4.52, "volume": 1902065, "typical_volume": 4221600.2, "trend": 6.525, "fair_value": 9.614872, "relative_strength": -47.649438, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -61.970421, "energy": 56.419107, "activity_lines": [ 4.246, 4.354182, 4.757952, 5.436194 ] }, { "date": "2025-05-02", "close": 5.23, "volume": 2133183, "typical_volume": 4186156.5, "trend": 6.337333, "fair_value": 9.600513, "relative_strength": -40.554964, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -45.037092, "energy": 34.294993, "activity_lines": [ 4.586, 4.500727, 4.751762, 5.352645 ] }, { "date": "2025-05-09", "close": 4.24, "volume": 2785170, "typical_volume": 4183203.55, "trend": 6.167333, "fair_value": 9.58359, "relative_strength": -50.885038, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -48.862043, "energy": 30.630974, "activity_lines": [ 4.556, 4.455818, 4.660714, 5.217333 ] }, { "date": "2025-05-16", "close": 4.74, "volume": 3494010, "typical_volume": 4293907.8, "trend": 5.996, "fair_value": 9.568718, "relative_strength": -47.754412, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -36.514953, "energy": 20.415125, "activity_lines": [ 4.643333, 4.504364, 4.629714, 5.125247 ] }, { "date": "2025-05-23", "close": 5.11, "volume": 3608258, "typical_volume": 4066883.55, "trend": 5.857667, "fair_value": 9.554679, "relative_strength": -41.302342, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -27.269461, "energy": 18.112881, "activity_lines": [ 4.814, 4.618727, 4.645333, 5.068086 ] }, { "date": "2025-05-30", "close": 5.39, "volume": 1941278, "typical_volume": 3944749.35, "trend": 5.726333, "fair_value": 9.538013, "relative_strength": -38.274592, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -3.987387, "energy": 8.479438, "activity_lines": [ 5.021333, 4.773818, 4.697429, 5.037914 ] }, { "date": "2025-06-06", "close": 5.97, "volume": 4201393, "typical_volume": 3960683.7, "trend": 5.617, "fair_value": 9.525192, "relative_strength": -31.673273, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": 12.430921, "energy": 22.38262, "activity_lines": [ 5.364, 5.027273, 4.809714, 5.053634 ] }, { "date": "2025-06-13", "close": 6.12, "volume": 4987241, "typical_volume": 3900008.95, "trend": 5.548667, "fair_value": 9.513846, "relative_strength": -28.247326, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 32.298132, "energy": 41.106927, "activity_lines": [ 5.707333, 5.283636, 4.933333, 5.086086 ] }, { "date": "2025-06-20", "close": 5.61, "volume": 3138459, "typical_volume": 3619442.15, "trend": 5.482667, "fair_value": 9.494872, "relative_strength": -32.994907, "stage": 1, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 22.927, "energy": 45.432575, "activity_lines": [ 5.755333, 5.399636, 5.005905, 5.090043 ] }, { "date": "2025-06-27", "close": 5.43, "volume": 4649739, "typical_volume": 3603343.4, "trend": 5.386333, "fair_value": 9.472564, "relative_strength": -36.62031, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 21.93017, "energy": 42.725933, "activity_lines": [ 5.685333, 5.456182, 5.060667, 5.086645 ] }, { "date": "2025-07-04", "close": 5.71, "volume": 1767475, "typical_volume": 3457126.95, "trend": 5.315, "fair_value": 9.450962, "relative_strength": -33.214762, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 30.483116, "energy": 33.482362, "activity_lines": [ 5.687333, 5.542364, 5.141952, 5.107527 ] }, { "date": "2025-07-11", "close": 5.97, "volume": 2591397, "typical_volume": 3370554.65, "trend": 5.273667, "fair_value": 9.433974, "relative_strength": -28.57558, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 35.493675, "energy": 27.953354, "activity_lines": [ 5.754667, 5.654182, 5.244857, 5.149785 ] }, { "date": "2025-07-18", "close": 6.0, "volume": 1430691, "typical_volume": 3213414.75, "trend": 5.245333, "fair_value": 9.406667, "relative_strength": -27.66216, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "mixed", "direction": 34.556878, "energy": 28.808212, "activity_lines": [ 5.832, 5.758, 5.344095, 5.196645 ] }, { "date": "2025-07-25", "close": 6.56, "volume": 1759463, "typical_volume": 3171730.35, "trend": 5.226333, "fair_value": 9.377564, "relative_strength": -20.049753, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 73.196514, "energy": 61.363712, "activity_lines": [ 6.104, 5.931636, 5.488952, 5.281462 ] }, { "date": "2025-08-01", "close": 6.48, "volume": 2227877, "typical_volume": 3191263.35, "trend": 5.203333, "fair_value": 9.339295, "relative_strength": -17.679378, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 69.013296, "energy": 68.289935, "activity_lines": [ 6.286, 6.057636, 5.617143, 5.362344 ] }, { "date": "2025-08-08", "close": 6.18, "volume": 1383259, "typical_volume": 3023699.0, "trend": 5.195, "fair_value": 9.303846, "relative_strength": -22.748497, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 62.742227, "energy": 66.89654, "activity_lines": [ 6.298, 6.104182, 5.707571, 5.425355 ] }, { "date": "2025-08-15", "close": 6.33, "volume": 5383061, "typical_volume": 3058472.75, "trend": 5.227667, "fair_value": 9.271987, "relative_strength": -19.770871, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 61.93284, "energy": 62.043422, "activity_lines": [ 6.328667, 6.163636, 5.806667, 5.498581 ] }, { "date": "2025-08-22", "close": 5.69, "volume": 2674133, "typical_volume": 2912888.2, "trend": 5.230667, "fair_value": 9.229487, "relative_strength": -25.791871, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 54.798719, "energy": 35.301168, "activity_lines": [ 6.122, 6.100182, 5.836714, 5.528409 ] }, { "date": "2025-08-29", "close": 5.09, "volume": 5300735, "typical_volume": 2931241.8, "trend": 5.218, "fair_value": 9.183269, "relative_strength": -32.021091, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 18.246344, "energy": 15.539245, "activity_lines": [ 5.736, 5.935455, 5.79919, 5.519333 ] }, { "date": "2025-09-05", "close": 6.26, "volume": 6143046, "typical_volume": 3175096.65, "trend": 5.246667, "fair_value": 9.141026, "relative_strength": -15.303221, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 42.094284, "energy": 22.587486, "activity_lines": [ 5.838, 5.992909, 5.868571, 5.586559 ] }, { "date": "2025-09-12", "close": 5.82, "volume": 2270503, "typical_volume": 3193518.55, "trend": 5.272333, "fair_value": 9.111923, "relative_strength": -20.669165, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 28.878355, "energy": 19.994286, "activity_lines": [ 5.808, 5.955273, 5.886524, 5.623548 ] }, { "date": "2025-09-19", "close": 6.7, "volume": 4212049, "typical_volume": 3297461.85, "trend": 5.342333, "fair_value": 9.096859, "relative_strength": -8.640817, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 63.672485, "energy": 29.980879, "activity_lines": [ 6.095333, 6.075636, 5.982095, 5.715656 ] }, { "date": "2025-09-26", "close": 7.7, "volume": 2259056, "typical_volume": 3271156.15, "trend": 5.453, "fair_value": 9.082115, "relative_strength": 7.374721, "stage": 1, "regime": "deceleration", "modifier": "Re-acceleration watch", "gate": "up", "direction": 80.213063, "energy": 69.685557, "activity_lines": [ 6.691333, 6.364545, 6.165905, 5.867763 ] }, { "date": "2025-10-03", "close": 9.4, "volume": 7206805, "typical_volume": 3456795.9, "trend": 5.611, "fair_value": 9.077692, "relative_strength": 30.941174, "stage": 1, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 91.089881, "energy": 90.525216, "activity_lines": [ 7.72, 6.931636, 6.495143, 6.122409 ] }, { "date": "2025-10-10", "close": 10.36, "volume": 8201062, "typical_volume": 3686436.1, "trend": 5.804667, "fair_value": 9.073013, "relative_strength": 48.01157, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 94.188058, "energy": 97.195222, "activity_lines": [ 8.781333, 7.621636, 6.893619, 6.428796 ] }, { "date": "2025-10-17", "close": 9.87, "volume": 4312097, "typical_volume": 3804977.05, "trend": 5.967, "fair_value": 9.068205, "relative_strength": 38.481634, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 78.699078, "energy": 92.001496, "activity_lines": [ 9.406, 8.152, 7.220429, 6.691075 ] }, { "date": "2025-10-24", "close": 10.18, "volume": 3510405, "typical_volume": 3770427.65, "trend": 6.152, "fair_value": 9.059231, "relative_strength": 40.308267, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 76.766618, "energy": 91.35552, "activity_lines": [ 9.864, 8.671636, 7.555429, 6.962882 ] }, { "date": "2025-10-31", "close": 10.19, "volume": 2586032, "typical_volume": 3650367.2, "trend": 6.375, "fair_value": 9.057308, "relative_strength": 38.463228, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 71.574415, "energy": 87.982955, "activity_lines": [ 10.093333, 9.123091, 7.871333, 7.223398 ] }, { "date": "2025-11-07", "close": 9.05, "volume": 3178736, "typical_volume": 3652381.05, "trend": 6.538667, "fair_value": 9.048269, "relative_strength": 27.551551, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 66.39729, "energy": 62.72145, "activity_lines": [ 9.776667, 9.285455, 8.059286, 7.395978 ] }, { "date": "2025-11-14", "close": 10.2, "volume": 3829196, "typical_volume": 3611353.9, "trend": 6.736667, "fair_value": 9.046026, "relative_strength": 43.917101, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 71.471103, "energy": 59.861636, "activity_lines": [ 9.866667, 9.584909, 8.340381, 7.632194 ] }, { "date": "2025-11-21", "close": 10.2, "volume": 2813914, "typical_volume": 3663675.85, "trend": 6.926, "fair_value": 9.046795, "relative_strength": 47.962206, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 67.747564, "energy": 54.184741, "activity_lines": [ 9.967333, 9.812727, 8.598762, 7.855634 ] }, { "date": "2025-11-28", "close": 10.69, "volume": 2576073, "typical_volume": 3662909.65, "trend": 7.108, "fair_value": 9.043141, "relative_strength": 47.555679, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 71.41246, "energy": 54.072551, "activity_lines": [ 10.209333, 10.05, 8.882429, 8.098473 ] }, { "date": "2025-12-05", "close": 10.18, "volume": 3770766, "typical_volume": 3779913.4, "trend": 7.306, "fair_value": 9.041474, "relative_strength": 38.823098, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 60.848676, "energy": 48.552851, "activity_lines": [ 10.247333, 10.122, 9.095048, 8.296667 ] }, { "date": "2025-12-12", "close": 10.04, "volume": 2317999, "typical_volume": 3807840.2, "trend": 7.482667, "fair_value": 9.047756, "relative_strength": 38.944998, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 57.822899, "energy": 44.102865, "activity_lines": [ 10.239333, 10.123455, 9.274429, 8.473054 ] }, { "date": "2025-12-19", "close": 10.27, "volume": 3304651, "typical_volume": 3861678.9, "trend": 7.654667, "fair_value": 9.059038, "relative_strength": 40.56523, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 58.231588, "energy": 41.729841, "activity_lines": [ 10.242, 10.155091, 9.459143, 8.652882 ] }, { "date": "2025-12-26", "close": 10.22, "volume": 1126061, "typical_volume": 3848819.0, "trend": 7.815667, "fair_value": 9.068718, "relative_strength": 37.574666, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 54.359996, "energy": 36.696924, "activity_lines": [ 10.223333, 10.179273, 9.621048, 8.818387 ] }, { "date": "2026-01-02", "close": 10.45, "volume": 1743918, "typical_volume": 3666861.85, "trend": 7.965, "fair_value": 9.075192, "relative_strength": 42.417593, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 57.003859, "energy": 37.188279, "activity_lines": [ 10.28, 10.238909, 9.785619, 8.988344 ] }, { "date": "2026-01-09", "close": 9.17, "volume": 2232523, "typical_volume": 3644781.35, "trend": 8.066667, "fair_value": 9.077564, "relative_strength": 21.904206, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 38.929594, "energy": 24.907654, "activity_lines": [ 9.926, 10.060909, 9.808667, 9.066086 ] }, { "date": "2026-01-16", "close": 9.83, "volume": 1790127, "typical_volume": 3469250.95, "trend": 8.207333, "fair_value": 9.084744, "relative_strength": 30.657047, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 36.489124, "energy": 21.23822, "activity_lines": [ 9.859333, 10.021455, 9.878, 9.179849 ] }, { "date": "2026-01-23", "close": 9.91, "volume": 1193805, "typical_volume": 3221788.9, "trend": 8.356667, "fair_value": 9.0975, "relative_strength": 30.317318, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 34.477434, "energy": 18.237491, "activity_lines": [ 9.833333, 9.982364, 9.932381, 9.289699 ] }, { "date": "2026-01-30", "close": 9.55, "volume": 1664625, "typical_volume": 3191495.0, "trend": 8.484667, "fair_value": 9.105256, "relative_strength": 24.805401, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 20.302753, "energy": 13.628408, "activity_lines": [ 9.711333, 9.883091, 9.935095, 9.366688 ] }, { "date": "2026-02-06", "close": 9.63, "volume": 1909829, "typical_volume": 3076384.0, "trend": 8.606667, "fair_value": 9.113974, "relative_strength": 27.295674, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 20.007729, "energy": 10.563263, "activity_lines": [ 9.660667, 9.810182, 9.927667, 9.440581 ] }, { "date": "2026-02-13", "close": 9.84, "volume": 2207973, "typical_volume": 3073829.85, "trend": 8.734667, "fair_value": 9.120769, "relative_strength": 30.344821, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 18.744968, "energy": 9.809677, "activity_lines": [ 9.734667, 9.794727, 9.926286, 9.520151 ] }, { "date": "2026-02-20", "close": 10.06, "volume": 1518901, "typical_volume": 2789434.65, "trend": 8.851333, "fair_value": 9.129936, "relative_strength": 30.206384, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 32.564725, "energy": 15.144166, "activity_lines": [ 9.837333, 9.825455, 9.935667, 9.605656 ] }, { "date": "2026-02-27", "close": 10.34, "volume": 1835390, "typical_volume": 2471151.05, "trend": 8.98, "fair_value": 9.141154, "relative_strength": 32.48619, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 40.957203, "energy": 21.60007, "activity_lines": [ 10.018, 9.906727, 9.968571, 9.701699 ] }, { "date": "2026-03-06", "close": 9.86, "volume": 1747311, "typical_volume": 2342911.75, "trend": 9.102667, "fair_value": 9.155192, "relative_strength": 26.613716, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 34.287981, "energy": 20.16593, "activity_lines": [ 10.01, 9.899455, 9.955857, 9.758473 ] }, { "date": "2026-03-13", "close": 9.24, "volume": 6331968, "typical_volume": 2483989.9, "trend": 9.199667, "fair_value": 9.165705, "relative_strength": 18.79643, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 7.735149, "energy": 5.412517, "activity_lines": [ 9.774667, 9.786, 9.884143, 9.767333 ] }, { "date": "2026-03-20", "close": 9.43, "volume": 2067447, "typical_volume": 2458060.65, "trend": 9.324333, "fair_value": 9.182949, "relative_strength": 22.632726, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 10.488395, "energy": 7.031704, "activity_lines": [ 9.628667, 9.729091, 9.835, 9.782194 ] }, { "date": "2026-03-27", "close": 9.37, "volume": 2876010, "typical_volume": 2442924.35, "trend": 9.467, "fair_value": 9.198782, "relative_strength": 24.693914, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": -1.377886, "energy": 8.928951, "activity_lines": [ 9.49, 9.656545, 9.783762, 9.78514 ] }, { "date": "2026-04-03", "close": 10.35, "volume": 1120343, "typical_volume": 2307481.7, "trend": 9.603333, "fair_value": 9.223846, "relative_strength": 30.69775, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 15.365547, "energy": 9.452385, "activity_lines": [ 9.724, 9.770545, 9.824333, 9.842108 ] }, { "date": "2026-04-10", "close": 10.43, "volume": 1629888, "typical_volume": 2248280.4, "trend": 9.757, "fair_value": 9.250769, "relative_strength": 24.682923, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 37.763412, "energy": 17.169566, "activity_lines": [ 9.984, 9.891091, 9.87181, 9.895441 ] }, { "date": "2026-04-17", "close": 11.17, "volume": 1400638, "typical_volume": 2189508.65, "trend": 9.906, "fair_value": 9.274679, "relative_strength": 24.429832, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 61.415516, "energy": 46.17559, "activity_lines": [ 10.452667, 10.130182, 9.988667, 9.986602 ] }, { "date": "2026-04-24", "close": 11.35, "volume": 1363520, "typical_volume": 2069146.35, "trend": 10.027667, "fair_value": 9.301603, "relative_strength": 22.431647, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 65.774553, "energy": 61.759277, "activity_lines": [ 10.852667, 10.374, 10.120381, 10.079763 ] }, { "date": "2026-05-01", "close": 10.79, "volume": 1759222, "typical_volume": 2041207.5, "trend": 10.074, "fair_value": 9.306026, "relative_strength": 13.792506, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 55.88112, "energy": 60.023852, "activity_lines": [ 10.938, 10.488545, 10.19319, 10.128946 ] }, { "date": "2026-05-08", "close": 11.37, "volume": 3036410, "typical_volume": 2027795.45, "trend": 10.107667, "fair_value": 9.315064, "relative_strength": 12.539881, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 66.636403, "energy": 67.542428, "activity_lines": [ 11.122, 10.695273, 10.317667, 10.212559 ] }, { "date": "2026-05-15", "close": 10.87, "volume": 3193546, "typical_volume": 2131169.7, "trend": 10.141, "fair_value": 9.322115, "relative_strength": 7.040009, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 56.832792, "energy": 53.183756, "activity_lines": [ 11.071333, 10.792364, 10.389286, 10.261742 ] }, { "date": "2026-05-22", "close": 11.62, "volume": 2832056, "typical_volume": 2185576.6, "trend": 10.189, "fair_value": 9.333462, "relative_strength": 12.130775, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 64.467106, "energy": 44.001874, "activity_lines": [ 11.241333, 11.007455, 10.529238, 10.357161 ] }, { "date": "2026-05-29", "close": 11.51, "volume": 1747122, "typical_volume": 2161306.55, "trend": 10.233, "fair_value": 9.341987, "relative_strength": 7.206949, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 60.432907, "energy": 43.427455, "activity_lines": [ 11.344667, 11.159273, 10.653143, 10.442387 ] }, { "date": "2026-06-05", "close": 9.79, "volume": 4892473, "typical_volume": 2316423.85, "trend": 10.257667, "fair_value": 9.332756, "relative_strength": -4.837699, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 24.851901, "energy": 16.040721, "activity_lines": [ 10.864, 10.960545, 10.602095, 10.413806 ] }, { "date": "2026-06-12", "close": 9.38, "volume": 1909886, "typical_volume": 2352227.9, "trend": 10.230333, "fair_value": 9.311346, "relative_strength": -11.038747, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 9.947134, "energy": 10.568388, "activity_lines": [ 10.313333, 10.679636, 10.51219, 10.357183 ] }, { "date": "2026-06-19", "close": 9.78, "volume": 1103472, "typical_volume": 2324170.25, "trend": 10.216333, "fair_value": 9.299423, "relative_strength": -9.957903, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -5.116904, "energy": 16.605633, "activity_lines": [ 10.028667, 10.489091, 10.462905, 10.328129 ] }, { "date": "2026-06-26", "close": 9.52, "volume": 2094856, "typical_volume": 2333421.6, "trend": 10.177333, "fair_value": 9.286474, "relative_strength": -8.645014, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -19.954873, "energy": 28.267109, "activity_lines": [ 9.73, 10.263091, 10.387762, 10.283204 ] }, { "date": "2026-07-03", "close": 9.95, "volume": 1795555, "typical_volume": 2312800.7, "trend": 10.169667, "fair_value": 9.276282, "relative_strength": -5.782872, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -16.541135, "energy": 29.119065, "activity_lines": [ 9.714667, 10.145273, 10.354095, 10.268538 ] }, { "date": "2026-07-10", "close": 9.68, "volume": 2231888, "typical_volume": 2348450.05, "trend": 10.157667, "fair_value": 9.266218, "relative_strength": -10.265199, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -18.044894, "energy": 27.97586, "activity_lines": [ 9.713333, 10.003818, 10.29419, 10.236946 ] }, { "date": "2026-07-17", "close": 9.59, "volume": 1595213, "typical_volume": 2336441.2, "trend": 10.135, "fair_value": 9.251538, "relative_strength": -7.606838, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -19.101563, "energy": 21.830565, "activity_lines": [ 9.689333, 9.866182, 10.227524, 10.200323 ] }, { "date": "2026-07-24", "close": 9.08, "volume": 1223461, "typical_volume": 2310248.7, "trend": 10.097, "fair_value": 9.231987, "relative_strength": -11.289211, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -35.407048, "energy": 25.387868, "activity_lines": [ 9.481333, 9.668182, 10.115857, 10.132258 ] }, { "date": "2026-07-31", "close": 8.66, "volume": 3243254, "typical_volume": 2155813.0, "trend": 10.037333, "fair_value": 9.209167, "relative_strength": -15.946275, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -40.358798, "energy": 38.374193, "activity_lines": [ 9.18, 9.426364, 9.967905, 10.039548 ] }, { "date": "2026-08-07", "close": 9.65, "volume": 2006498, "typical_volume": 2152765.55, "trend": 10.053333, "fair_value": 9.193333, "relative_strength": -11.167482, "stage": 4, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -54.093712, "energy": 38.969562, "activity_lines": [ 9.266, 9.418364, 9.917, 10.014559 ] } ], "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." } } }