{ "ticker": { "uuid": "f0cf871d-d3bb-4dfe-80df-f2a57cb80075", "symbol": "PSON", "name": "Pearson plc", "exchange": "LSE", "country": "GB", "assetType": "equity" }, "methodBoundary": "Trend Architecture is a weekly structural classification, not a forecast, probability of return, recommendation or execution signal. Confidence measures geometric agreement and external confirmation only.", "analysis": { "eligible": true, "as_of": "2026-08-07", "benchmark": "^FTSE", "stage": 2, "stage_name": "Advancing", "phase": "2b", "phase_label": "Stage 2B \u00b7 Advancing", "transition": "stage_2_healthy", "transition_label": "Stage 2 trend intact", "confidence": 96.0, "architecture_regime": "upward_expansion", "architecture_regime_label": "Upward Expansion", "architecture_modifier": "Established expansion", "architecture_gate": "up", "architecture_direction": 62.693, "architecture_energy": 54.908, "architecture_maturity": 62.534, "architecture_confidence": 74.131, "architecture_tenure": "Developing", "architecture": { "interpretation": { "headline": "The weekly architecture is expanding upward.", "body": "Trend and Activity show sustained positive alignment with constructive price acceptance. Directional energy remains positive; cooling within this regime can indicate that it is maturing." }, "scores": { "balance": 12.21, "rotation_up": 56.15, "upward_expansion": 82.55, "deceleration": 67.95, "rotation_down": 23.65, "downward_expansion": 9.21 }, "activity_lines": [ 1240.333333, 1226.436364, 1182.260599, 1135.750965 ], "activity_state": "Moderate", "activity_direction": "Contracting", "rotation_direction": "Weakening", "price_acceptance": 0.666667 }, "latest_close": 1224.0, "trend_reference": 1074.227515, "distance_from_trend": 0.139423, "trend_direction": "Improving", "fair_value": 1063.154757, "distance_from_fair_value": 0.151291, "fair_value_direction": "Improving", "relative_strength": 6.117119, "relative_strength_direction": "Improving", "price_momentum": 0.36266, "excess_performance": 0.311425, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.139423, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.060985, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.151291, "read": "Premium" }, { "label": "Fair Value direction", "positive": true, "value": 0.095793, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": true, "value": 0.061171, "read": "Leading" }, { "label": "Relative strength direction", "positive": true, "value": 0.080725, "read": "Improving" }, { "label": "Price momentum", "positive": true, "value": 0.36266, "read": "Positive" }, { "label": "Volume balance", "positive": false, "value": 0.73082, "read": "Supply-led" } ], "volume": { "latest": 13239113, "relative_activity": 1.71783, "balance": 0.73082, "dry_up": 1.298224, "accumulation_observations": 3, "distribution_observations": 3 }, "risk": { "range_context": 0.050578, "annualized_volatility": 0.202977, "from_high_reference": -0.084518, "from_low_reference": 0.399422 }, "levels": { "trend_reference": 1074.227515, "fair_value_reference": 1063.154757, "structural_low": 880.845944, "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis." }, "outcomes": [ { "horizon": "Near term", "sample_count": 26, "median_return": 0.005088, "positive_rate": 0.576923, "directional_follow_through": 0.576923, "median_excess_return": -0.000243, "regime_survival": 0.807692, "best_return": 0.10568, "worst_return": -0.09867, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 9, "median_return": 0.018893, "positive_rate": 0.555556, "directional_follow_through": 0.555556, "median_excess_return": 0.013554, "regime_survival": 0.444444, "best_return": 0.110318, "worst_return": -0.113659, "sufficient": true }, { "horizon": "Extended", "sample_count": 6, "median_return": 0.085444, "positive_rate": 0.5, "directional_follow_through": 0.5, "median_excess_return": 0.046375, "regime_survival": 0.666667, "best_return": 0.200094, "worst_return": -0.149897, "sufficient": true }, { "horizon": "Full cycle", "sample_count": 3, "median_return": 0.105766, "positive_rate": 1.0, "directional_follow_through": 1.0, "median_excess_return": 0.087498, "regime_survival": 0.333333, "best_return": 0.181175, "worst_return": 0.017272, "sufficient": false } ], "ledger": [ { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2023-09-29", "end": "2024-05-03", "tenure": "Extended", "return": 0.13721, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2024-05-10", "end": "2024-05-31", "tenure": "New", "return": -0.049719, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2024-06-07", "end": "2024-06-28", "tenure": "New", "return": 0.030152, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2024-07-05", "end": "2024-07-19", "tenure": "New", "return": 0.012922, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2024-07-26", "end": "2024-09-27", "tenure": "Developing", "return": -0.024194, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2024-10-04", "end": "2024-11-01", "tenure": "Developing", "return": 0.135294, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2024-11-08", "end": "2025-04-04", "tenure": "Established", "return": -0.026035, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2025-04-11", "end": "2025-05-16", "tenure": "Developing", "return": 0.034081, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-05-23", "end": "2025-10-17", "tenure": "Established", "return": -0.076253, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-10-24", "end": "2025-11-14", "tenure": "New", "return": -0.106289, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-11-21", "end": "2026-03-27", "tenure": "Established", "return": -0.044696, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-04-03", "end": "2026-04-17", "tenure": "New", "return": 0.070367, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2026-04-24", "end": "2026-05-15", "tenure": "New", "return": 0.026132, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-05-22", "end": "2026-08-07", "tenure": "Developing", "return": 0.081272, "active": true } ], "chart_path": [ { "date": "2023-08-18", "close": 821.302734, "volume": 6888820, "typical_volume": 9333780.25, "trend": 850.542798, "fair_value": 768.767978, "relative_strength": -3.403786, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -34.648775, "energy": 13.45538, "activity_lines": [ 836.851827, 837.821693, 833.73143, 837.577467 ] }, { "date": "2023-08-25", "close": 832.296082, "volume": 6618606, "typical_volume": 9300161.0, "trend": 847.352881, "fair_value": 770.52224, "relative_strength": -3.073467, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -31.632166, "energy": 18.690313, "activity_lines": [ 832.588562, 837.246645, 833.507004, 836.400259 ] }, { "date": "2023-09-01", "close": 839.29187, "volume": 6501079, "typical_volume": 9265405.6, "trend": 843.969861, "fair_value": 772.567163, "relative_strength": -3.752749, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -30.061651, "energy": 18.176475, "activity_lines": [ 832.811165, 837.909605, 833.995151, 835.880194 ] }, { "date": "2023-09-08", "close": 881.266541, "volume": 5512668, "typical_volume": 9081981.9, "trend": 843.731146, "fair_value": 774.86067, "relative_strength": 0.985792, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 32.853204, "energy": 16.648971, "activity_lines": [ 849.00601, 845.876013, 838.502445, 838.286431 ] }, { "date": "2023-09-15", "close": 893.658997, "volume": 9716555, "typical_volume": 9054996.3, "trend": 842.972984, "fair_value": 777.396853, "relative_strength": -0.557435, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 39.581243, "energy": 49.304222, "activity_lines": [ 866.475444, 855.007747, 844.049723, 841.507583 ] }, { "date": "2023-09-22", "close": 867.275024, "volume": 9331874, "typical_volume": 8497444.9, "trend": 841.308718, "fair_value": 779.42143, "relative_strength": -2.993604, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 52.244958, "energy": 56.11929, "activity_lines": [ 871.046037, 857.952919, 847.049628, 843.075457 ] }, { "date": "2023-09-29", "close": 867.874634, "volume": 9530361, "typical_volume": 8338448.35, "trend": 840.663572, "fair_value": 781.410161, "relative_strength": -1.771799, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 54.031515, "energy": 57.574781, "activity_lines": [ 872.751681, 860.489799, 849.900724, 844.789387 ] }, { "date": "2023-10-06", "close": 881.266541, "volume": 10174151, "typical_volume": 8484262.1, "trend": 841.637136, "fair_value": 783.415602, "relative_strength": 1.450451, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 58.972409, "energy": 55.3901, "activity_lines": [ 876.54939, 865.402128, 853.809904, 847.408933 ] }, { "date": "2023-10-13", "close": 906.051392, "volume": 9780333, "typical_volume": 8489764.1, "trend": 843.943089, "fair_value": 785.741238, "relative_strength": 3.06571, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 69.130428, "energy": 52.618326, "activity_lines": [ 885.810405, 874.597803, 859.833654, 851.564692 ] }, { "date": "2023-10-20", "close": 898.056335, "volume": 8653320, "typical_volume": 8149603.25, "trend": 846.796934, "fair_value": 788.217908, "relative_strength": 4.984701, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 62.584472, "energy": 52.698704, "activity_lines": [ 890.754077, 881.110226, 864.589296, 855.055869 ] }, { "date": "2023-10-27", "close": 918.643799, "volume": 8708077, "typical_volume": 8202239.8, "trend": 849.291077, "fair_value": 790.841913, "relative_strength": 9.188417, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 69.950112, "energy": 63.688706, "activity_lines": [ 902.267082, 890.166551, 870.934122, 859.69115 ] }, { "date": "2023-11-03", "close": 952.423462, "volume": 18928465, "typical_volume": 8660947.45, "trend": 852.971173, "fair_value": 793.490411, "relative_strength": 11.296116, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 80.841282, "energy": 77.560047, "activity_lines": [ 921.615389, 903.594794, 880.020786, 866.344853 ] }, { "date": "2023-11-10", "close": 969.013367, "volume": 16576691, "typical_volume": 9021338.9, "trend": 857.144301, "fair_value": 795.9175, "relative_strength": 14.044533, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 82.618739, "energy": 83.667661, "activity_lines": [ 940.857076, 917.85525, 890.106514, 873.831446 ] }, { "date": "2023-11-17", "close": 951.82373, "volume": 9630298, "typical_volume": 9097006.95, "trend": 860.477962, "fair_value": 797.954017, "relative_strength": 9.974092, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 68.935482, "energy": 78.740568, "activity_lines": [ 948.519096, 926.631745, 897.851426, 879.939796 ] }, { "date": "2023-11-24", "close": 967.214478, "volume": 7284744, "typical_volume": 8988211.6, "trend": 863.172109, "fair_value": 799.99317, "relative_strength": 12.020379, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 72.778066, "energy": 81.014329, "activity_lines": [ 958.259876, 936.923699, 906.441225, 886.826023 ] }, { "date": "2023-12-01", "close": 919.04364, "volume": 16738340, "typical_volume": 9457773.85, "trend": 866.339132, "fair_value": 801.540454, "relative_strength": 5.924991, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 62.74347, "energy": 50.60547, "activity_lines": [ 947.333167, 937.119947, 909.72915, 890.430638 ] }, { "date": "2023-12-08", "close": 959.818909, "volume": 8642772, "typical_volume": 9617831.3, "trend": 870.925287, "fair_value": 803.514276, "relative_strength": 10.222242, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 66.421225, "energy": 47.723657, "activity_lines": [ 949.971558, 943.788633, 916.51843, 896.461591 ] }, { "date": "2023-12-15", "close": 937.632385, "volume": 11611884, "typical_volume": 9935146.95, "trend": 874.525395, "fair_value": 805.184559, "relative_strength": 7.390558, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 47.815228, "energy": 35.518154, "activity_lines": [ 944.721411, 944.751691, 920.74131, 900.765275 ] }, { "date": "2023-12-22", "close": 963.016907, "volume": 10212805, "typical_volume": 9932950.2, "trend": 879.970966, "fair_value": 806.995799, "relative_strength": 8.567191, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 63.755078, "energy": 39.829067, "activity_lines": [ 950.024837, 949.305283, 927.054952, 906.474405 ] }, { "date": "2023-12-29", "close": 963.616699, "volume": 3132991, "typical_volume": 9708741.7, "trend": 884.756997, "fair_value": 808.817285, "relative_strength": 8.157145, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 62.915239, "energy": 43.102633, "activity_lines": [ 954.781982, 952.932192, 932.832413, 911.870904 ] }, { "date": "2024-01-05", "close": 974.610046, "volume": 4640458, "typical_volume": 9596323.6, "trend": 889.949443, "fair_value": 810.704122, "relative_strength": 9.834976, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 64.858738, "energy": 45.183427, "activity_lines": [ 963.443428, 957.365885, 939.030572, 917.667875 ] }, { "date": "2024-01-12", "close": 972.211487, "volume": 6564032, "typical_volume": 9593594.9, "trend": 894.675539, "fair_value": 812.596066, "relative_strength": 10.324744, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 63.239648, "energy": 52.113628, "activity_lines": [ 967.600928, 960.345907, 944.270262, 922.975103 ] }, { "date": "2024-01-19", "close": 947.026672, "volume": 9004049, "typical_volume": 9718743.4, "trend": 898.868599, "fair_value": 814.089716, "relative_strength": 9.661238, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 55.544696, "energy": 38.059987, "activity_lines": [ 962.537317, 958.38709, 946.445135, 926.352596 ] }, { "date": "2024-01-26", "close": 965.415527, "volume": 8222807, "typical_volume": 9854250.35, "trend": 903.667955, "fair_value": 815.076463, "relative_strength": 9.128839, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 57.192444, "energy": 36.715853, "activity_lines": [ 962.977038, 960.17146, 949.858304, 930.645946 ] }, { "date": "2024-02-02", "close": 959.818909, "volume": 7037854, "typical_volume": 9720315.3, "trend": 908.420658, "fair_value": 816.597062, "relative_strength": 8.649654, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 52.982732, "energy": 32.593443, "activity_lines": [ 961.391313, 960.691139, 952.337752, 934.268588 ] }, { "date": "2024-02-09", "close": 951.82373, "volume": 11728182, "typical_volume": 9840130.7, "trend": 912.187351, "fair_value": 817.811633, "relative_strength": 8.122268, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 38.822298, "energy": 22.293109, "activity_lines": [ 957.393713, 959.891614, 953.740707, 937.068786 ] }, { "date": "2024-02-16", "close": 969.213135, "volume": 10173278, "typical_volume": 9872276.55, "trend": 915.674284, "fair_value": 819.223454, "relative_strength": 7.911909, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 45.131565, "energy": 26.740124, "activity_lines": [ 960.71167, 961.657797, 956.397184, 940.747869 ] }, { "date": "2024-02-23", "close": 952.623352, "volume": 9312942, "typical_volume": 9829216.1, "trend": 918.461658, "fair_value": 820.522529, "relative_strength": 6.013089, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 36.013594, "energy": 20.328007, "activity_lines": [ 958.699589, 960.236852, 956.991117, 943.13168 ] }, { "date": "2024-03-01", "close": 1013.386475, "volume": 12379129, "typical_volume": 9959155.9, "trend": 924.29377, "fair_value": 822.153498, "relative_strength": 12.747657, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 72.560864, "energy": 41.886551, "activity_lines": [ 976.56877, 969.591184, 963.032219, 949.255862 ] }, { "date": "2024-03-08", "close": 992.39917, "volume": 13189251, "typical_volume": 10185952.45, "trend": 929.637201, "fair_value": 823.290171, "relative_strength": 10.385754, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 60.009281, "energy": 48.892159, "activity_lines": [ 984.24412, 974.213833, 966.563411, 953.649758 ] }, { "date": "2024-03-15", "close": 1017.883789, "volume": 16805984, "typical_volume": 10590847.8, "trend": 936.189903, "fair_value": 824.718236, "relative_strength": 11.905135, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 70.992847, "energy": 65.021359, "activity_lines": [ 998.242326, 982.946731, 972.072459, 959.343087 ] }, { "date": "2024-03-22", "close": 1037.033569, "volume": 11870420, "typical_volume": 10237945.55, "trend": 943.014486, "fair_value": 826.418, "relative_strength": 10.704305, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 76.681149, "energy": 76.313075, "activity_lines": [ 1014.219788, 994.374612, 978.932723, 965.84913 ] }, { "date": "2024-03-29", "close": 1041.531494, "volume": 7287653, "typical_volume": 9773493.65, "trend": 949.755806, "fair_value": 828.158123, "relative_strength": 10.514019, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 72.808974, "energy": 75.720197, "activity_lines": [ 1027.175195, 1005.441714, 985.818456, 972.205066 ] }, { "date": "2024-04-05", "close": 1014.543701, "volume": 8094521, "typical_volume": 9696704.8, "trend": 954.198378, "fair_value": 829.502437, "relative_strength": 7.872838, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 62.87036, "energy": 65.262343, "activity_lines": [ 1025.207462, 1009.883675, 989.788598, 976.38493 ] }, { "date": "2024-04-12", "close": 1005.047974, "volume": 10092514, "typical_volume": 9837093.3, "trend": 957.911344, "fair_value": 830.715453, "relative_strength": 5.419578, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 59.129593, "energy": 44.879237, "activity_lines": [ 1019.997339, 1011.7059, 992.555719, 979.665549 ] }, { "date": "2024-04-19", "close": 992.753479, "volume": 8583281, "typical_volume": 9429340.35, "trend": 962.09396, "fair_value": 831.950819, "relative_strength": 5.13796, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 44.037562, "energy": 30.475834, "activity_lines": [ 1009.845797, 1010.470417, 993.971776, 981.913429 ] }, { "date": "2024-04-26", "close": 986.556274, "volume": 12299448, "typical_volume": 9612174.15, "trend": 966.050014, "fair_value": 832.960785, "relative_strength": 1.211302, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 35.253775, "energy": 18.830177, "activity_lines": [ 999.303874, 1007.363991, 994.446624, 983.491642 ] }, { "date": "2024-05-03", "close": 986.956116, "volume": 13223101, "typical_volume": 9692735.0, "trend": 969.573, "fair_value": 833.869593, "relative_strength": 0.115093, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 29.704358, "energy": 19.192224, "activity_lines": [ 992.260384, 1004.014935, 994.832232, 984.840423 ] }, { "date": "2024-05-10", "close": 997.151489, "volume": 5127584, "typical_volume": 9438473.95, "trend": 972.60967, "fair_value": 834.756681, "relative_strength": -1.685028, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 27.15191, "energy": 18.024461, "activity_lines": [ 992.253711, 1001.89535, 995.953952, 986.61968 ] }, { "date": "2024-05-17", "close": 957.569275, "volume": 11238943, "typical_volume": 9843771.55, "trend": 974.593435, "fair_value": 835.533454, "relative_strength": -5.538531, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": -1.236674, "energy": 11.305414, "activity_lines": [ 980.212447, 992.874181, 993.143392, 985.649332 ] }, { "date": "2024-05-24", "close": 945.974487, "volume": 11357885, "typical_volume": 10179642.9, "trend": 975.504458, "fair_value": 836.35883, "relative_strength": -5.66406, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -24.546136, "energy": 23.838886, "activity_lines": [ 967.471501, 982.378139, 989.257364, 983.802949 ] }, { "date": "2024-05-31", "close": 947.573792, "volume": 10747047, "typical_volume": 10388793.65, "trend": 975.342802, "fair_value": 837.038237, "relative_strength": -5.124238, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -25.207736, "energy": 39.184625, "activity_lines": [ 958.382255, 973.480322, 985.66001, 982.00097 ] }, { "date": "2024-06-07", "close": 961.367554, "volume": 12820354, "typical_volume": 10579608.9, "trend": 975.087941, "fair_value": 837.745881, "relative_strength": -3.520778, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -19.982184, "energy": 42.230906, "activity_lines": [ 956.489763, 968.717003, 983.493671, 981.099341 ] }, { "date": "2024-06-14", "close": 948.573364, "volume": 7862507, "typical_volume": 10561593.9, "trend": 974.979596, "fair_value": 838.429134, "relative_strength": -3.772881, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -24.630717, "energy": 46.800096, "activity_lines": [ 952.038444, 963.084994, 980.040547, 979.388723 ] }, { "date": "2024-06-21", "close": 972.5625, "volume": 10742020, "typical_volume": 10746802.2, "trend": 975.157863, "fair_value": 839.298176, "relative_strength": -2.550802, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -27.516621, "energy": 28.790787, "activity_lines": [ 958.822046, 963.014107, 978.952303, 979.232782 ] }, { "date": "2024-06-28", "close": 990.354553, "volume": 7574573, "typical_volume": 10539121.75, "trend": 977.534894, "fair_value": 840.332491, "relative_strength": -0.06763, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -1.411843, "energy": 4.683785, "activity_lines": [ 970.536784, 966.768783, 979.497857, 980.213213 ] }, { "date": "2024-07-05", "close": 1005.547729, "volume": 11975486, "typical_volume": 10629232.15, "trend": 979.059188, "fair_value": 841.519259, "relative_strength": 0.814217, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 16.213921, "energy": 15.667122, "activity_lines": [ 984.357243, 973.329472, 981.3069, 982.020493 ] }, { "date": "2024-07-12", "close": 1013.044312, "volume": 7448812, "typical_volume": 10536025.65, "trend": 981.572919, "fair_value": 842.814266, "relative_strength": 0.80456, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 23.809952, "energy": 27.132698, "activity_lines": [ 996.811633, 980.907877, 983.656882, 984.213082 ] }, { "date": "2024-07-19", "close": 1018.54187, "volume": 8409682, "typical_volume": 10337553.3, "trend": 983.423751, "fair_value": 843.855119, "relative_strength": 2.364412, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 53.544057, "energy": 43.642028, "activity_lines": [ 1007.653426, 989.011507, 986.242721, 986.598175 ] }, { "date": "2024-07-26", "close": 1050.527588, "volume": 10835189, "typical_volume": 10219850.2, "trend": 986.32078, "fair_value": 845.022898, "relative_strength": 3.696174, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 80.524137, "energy": 76.080618, "activity_lines": [ 1024.492558, 1002.541806, 991.85027, 990.927455 ] }, { "date": "2024-08-02", "close": 1049.028198, "volume": 10912256, "typical_volume": 9925163.8, "trend": 988.801385, "fair_value": 846.634365, "relative_strength": 4.666304, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 74.291867, "energy": 75.8494, "activity_lines": [ 1035.63422, 1014.109337, 997.038218, 994.973095 ] }, { "date": "2024-08-09", "close": 1041.605347, "volume": 8406464, "typical_volume": 9751966.0, "trend": 991.114514, "fair_value": 848.28877, "relative_strength": 3.734173, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 66.427446, "energy": 73.51647, "activity_lines": [ 1040.390023, 1022.453556, 1001.370921, 998.379802 ] }, { "date": "2024-08-16", "close": 1044.104492, "volume": 3617366, "typical_volume": 9568451.65, "trend": 994.350441, "fair_value": 850.128236, "relative_strength": 1.990279, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 66.299551, "energy": 73.132514, "activity_lines": [ 1043.575033, 1029.542499, 1005.919868, 1001.79851 ] }, { "date": "2024-08-23", "close": 1045.104004, "volume": 7250370, "typical_volume": 9526244.1, "trend": 997.006724, "fair_value": 851.916482, "relative_strength": 1.695039, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 64.789131, "energy": 60.738979, "activity_lines": [ 1045.022534, 1035.308865, 1010.551753, 1005.072934 ] }, { "date": "2024-08-30", "close": 1055.599976, "volume": 5875014, "typical_volume": 9315369.1, "trend": 1000.199426, "fair_value": 853.804024, "relative_strength": 1.902314, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 69.517924, "energy": 54.217535, "activity_lines": [ 1048.197884, 1041.228486, 1016.03773, 1008.853144 ] }, { "date": "2024-09-06", "close": 1073.093262, "volume": 4575310, "typical_volume": 9114970.55, "trend": 1004.241744, "fair_value": 855.867734, "relative_strength": 5.842131, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 76.871004, "energy": 61.854624, "activity_lines": [ 1056.86617, 1048.818932, 1022.94901, 1013.555972 ] }, { "date": "2024-09-13", "close": 1062.097534, "volume": 6117446, "typical_volume": 8805870.45, "trend": 1007.337891, "fair_value": 858.062013, "relative_strength": 3.397281, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 65.345234, "energy": 50.925387, "activity_lines": [ 1060.264876, 1052.905815, 1028.430508, 1017.288603 ] }, { "date": "2024-09-20", "close": 1025.611328, "volume": 11632003, "typical_volume": 8726315.55, "trend": 1009.770823, "fair_value": 860.128698, "relative_strength": 0.185836, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 58.585227, "energy": 39.968992, "activity_lines": [ 1050.135368, 1049.330664, 1030.077408, 1018.467535 ] }, { "date": "2024-09-27", "close": 1025.111572, "volume": 4808003, "typical_volume": 8710336.5, "trend": 1010.16166, "fair_value": 862.048751, "relative_strength": -1.095266, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 43.373822, "energy": 27.490446, "activity_lines": [ 1041.072152, 1045.436157, 1031.492641, 1019.457261 ] }, { "date": "2024-10-04", "close": 1019.613708, "volume": 9256921, "typical_volume": 8611235.4, "trend": 1011.068811, "fair_value": 863.843918, "relative_strength": -1.232695, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 32.648724, "energy": 21.52601, "activity_lines": [ 1031.509143, 1040.42259, 1032.251124, 1020.06707 ] }, { "date": "2024-10-11", "close": 1027.11084, "volume": 4773684, "typical_volume": 8282025.35, "trend": 1011.376379, "fair_value": 866.45551, "relative_strength": -0.262503, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 26.636516, "energy": 23.197575, "activity_lines": [ 1026.844263, 1037.334207, 1033.428169, 1021.10204 ] }, { "date": "2024-10-18", "close": 1038.106689, "volume": 4818978, "typical_volume": 7985621.9, "trend": 1011.41215, "fair_value": 869.090205, "relative_strength": -0.500384, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 28.819099, "energy": 19.630415, "activity_lines": [ 1028.91016, 1036.643568, 1035.266075, 1022.826576 ] }, { "date": "2024-10-25", "close": 1042.60498, "volume": 4453060, "typical_volume": 7567257.2, "trend": 1011.447933, "fair_value": 871.916373, "relative_strength": 1.251025, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 25.492936, "energy": 13.413823, "activity_lines": [ 1034.074878, 1036.834411, 1037.101281, 1024.839016 ] }, { "date": "2024-11-01", "close": 1157.561401, "volume": 13313144, "typical_volume": 7839789.05, "trend": 1016.21519, "fair_value": 875.526823, "relative_strength": 13.169705, "stage": 3, "regime": "deceleration", "modifier": "Re-acceleration watch", "gate": "up", "direction": 85.739177, "energy": 74.312781, "activity_lines": [ 1076.425492, 1057.953686, 1049.497872, 1034.265692 ] }, { "date": "2024-11-08", "close": 1203.543945, "volume": 8148816, "typical_volume": 7710128.85, "trend": 1022.831722, "fair_value": 879.164386, "relative_strength": 18.87399, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 90.882216, "energy": 91.023699, "activity_lines": [ 1125.273632, 1085.388744, 1065.278572, 1046.351418 ] }, { "date": "2024-11-15", "close": 1190.54895, "volume": 5383421, "typical_volume": 7600571.25, "trend": 1029.424904, "fair_value": 882.762189, "relative_strength": 17.344423, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 84.514213, "energy": 93.662777, "activity_lines": [ 1157.528092, 1107.771184, 1078.721742, 1057.171884 ] }, { "date": "2024-11-22", "close": 1227.035156, "volume": 5854901, "typical_volume": 7294542.0, "trend": 1037.440867, "fair_value": 886.720659, "relative_strength": 17.686956, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 87.203157, "energy": 95.187291, "activity_lines": [ 1191.048746, 1134.651923, 1094.686482, 1069.920933 ] }, { "date": "2024-11-29", "close": 1232.533081, "volume": 10871740, "typical_volume": 7465688.4, "trend": 1045.626766, "fair_value": 890.850115, "relative_strength": 17.377841, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 79.841711, "energy": 92.5611, "activity_lines": [ 1213.806811, 1159.533418, 1110.120132, 1082.507527 ] }, { "date": "2024-12-06", "close": 1252.525391, "volume": 5295639, "typical_volume": 7309986.25, "trend": 1054.139229, "fair_value": 895.073151, "relative_strength": 18.54959, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 81.396309, "energy": 92.724611, "activity_lines": [ 1230.567106, 1184.287665, 1126.412627, 1095.855826 ] }, { "date": "2024-12-13", "close": 1281.514404, "volume": 7171069, "typical_volume": 7126780.25, "trend": 1064.9374, "fair_value": 899.420546, "relative_strength": 20.854698, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 84.897555, "energy": 92.69865, "activity_lines": [ 1250.659473, 1210.177845, 1144.351773, 1110.525192 ] }, { "date": "2024-12-20", "close": 1268.519287, "volume": 11780496, "typical_volume": 7170192.25, "trend": 1075.688894, "fair_value": 903.685919, "relative_strength": 22.235827, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 73.590063, "energy": 83.695272, "activity_lines": [ 1261.222103, 1228.943446, 1159.953351, 1123.659507 ] }, { "date": "2024-12-27", "close": 1289.511475, "volume": 2687617, "typical_volume": 6884249.9, "trend": 1087.086816, "fair_value": 908.025667, "relative_strength": 22.646848, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 77.794795, "energy": 71.535243, "activity_lines": [ 1273.584107, 1247.136563, 1176.50899, 1137.454512 ] }, { "date": "2025-01-03", "close": 1290.01123, "volume": 2740286, "typical_volume": 6840395.9, "trend": 1098.041606, "fair_value": 912.458262, "relative_strength": 21.043999, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 73.32642, "energy": 68.896898, "activity_lines": [ 1281.947607, 1260.849549, 1191.931719, 1150.54641 ] }, { "date": "2025-01-10", "close": 1292.010498, "volume": 5170553, "typical_volume": 6736405.05, "trend": 1109.48951, "fair_value": 916.870377, "relative_strength": 20.351229, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 70.861657, "energy": 66.716411, "activity_lines": [ 1287.145654, 1270.427743, 1206.37387, 1163.060532 ] }, { "date": "2025-01-17", "close": 1288.511841, "volume": 9211099, "typical_volume": 6903209.3, "trend": 1120.021155, "fair_value": 920.910459, "relative_strength": 15.981505, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 66.009846, "energy": 63.226767, "activity_lines": [ 1288.545142, 1276.925289, 1219.307071, 1174.61036 ] }, { "date": "2025-01-24", "close": 1277.016113, "volume": 7801039, "typical_volume": 7064495.75, "trend": 1129.57654, "fair_value": 925.21493, "relative_strength": 14.583944, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 62.917166, "energy": 56.193179, "activity_lines": [ 1285.646224, 1279.787831, 1230.036336, 1184.739067 ] }, { "date": "2025-01-31", "close": 1341.991455, "volume": 6529206, "typical_volume": 7085083.75, "trend": 1140.791331, "fair_value": 929.91414, "relative_strength": 17.537316, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 80.081047, "energy": 65.003641, "activity_lines": [ 1303.839298, 1292.891941, 1245.982668, 1198.443255 ] }, { "date": "2025-02-07", "close": 1313.502319, "volume": 10181135, "typical_volume": 7012540.35, "trend": 1150.806598, "fair_value": 934.243759, "relative_strength": 14.269759, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 66.243001, "energy": 61.269132, "activity_lines": [ 1309.037329, 1298.726094, 1257.88292, 1209.585899 ] }, { "date": "2025-02-14", "close": 1343.490967, "volume": 6654959, "typical_volume": 7104888.15, "trend": 1161.638234, "fair_value": 938.879587, "relative_strength": 15.974837, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 74.824833, "energy": 65.372554, "activity_lines": [ 1322.665503, 1308.540561, 1271.268325, 1222.017149 ] }, { "date": "2025-02-21", "close": 1357.485718, "volume": 4389228, "typical_volume": 6861503.5, "trend": 1171.870172, "fair_value": 943.274727, "relative_strength": 17.606988, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 75.657284, "energy": 81.682719, "activity_lines": [ 1337.526563, 1319.245608, 1284.470471, 1234.65247 ] }, { "date": "2025-02-28", "close": 1360.984375, "volume": 11215556, "typical_volume": 7183597.1, "trend": 1182.268711, "fair_value": 948.114896, "relative_strength": 15.522157, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 70.955405, "energy": 62.328939, "activity_lines": [ 1348.955583, 1329.205478, 1296.396908, 1246.853387 ] }, { "date": "2025-03-07", "close": 1282.514038, "volume": 9373705, "typical_volume": 7411333.45, "trend": 1190.299001, "fair_value": 951.427563, "relative_strength": 10.201061, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 60.99734, "energy": 47.569512, "activity_lines": [ 1328.62994, 1323.21683, 1299.260106, 1253.320827 ] }, { "date": "2025-03-14", "close": 1257.52356, "volume": 6501948, "typical_volume": 7513777.85, "trend": 1197.41297, "fair_value": 954.314947, "relative_strength": 8.432573, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 42.27225, "energy": 29.573308, "activity_lines": [ 1303.939299, 1312.811686, 1298.579413, 1257.657896 ] }, { "date": "2025-03-21", "close": 1176.708008, "volume": 10460225, "typical_volume": 7371131.9, "trend": 1201.79977, "fair_value": 956.821671, "relative_strength": 1.216753, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": -8.671257, "energy": 17.52246, "activity_lines": [ 1256.042057, 1288.303489, 1289.17858, 1256.322092 ] }, { "date": "2025-03-28", "close": 1226.695557, "volume": 10448201, "typical_volume": 7486101.15, "trend": 1207.502956, "fair_value": 959.93958, "relative_strength": 5.208034, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 1.042763, "energy": 23.448142, "activity_lines": [ 1235.926197, 1274.980347, 1284.447291, 1257.928271 ] }, { "date": "2025-04-04", "close": 1172.209106, "volume": 10381186, "typical_volume": 7735989.4, "trend": 1210.806818, "fair_value": 962.572448, "relative_strength": 7.80619, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "mixed", "direction": -33.10583, "energy": 39.370707, "activity_lines": [ 1206.367529, 1252.87451, 1274.41657, 1255.651249 ] }, { "date": "2025-04-11", "close": 1158.712524, "volume": 14341310, "typical_volume": 8160309.85, "trend": 1214.027317, "fair_value": 965.056037, "relative_strength": 7.476864, "stage": 2, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -35.548781, "energy": 49.887634, "activity_lines": [ 1184.895019, 1230.22033, 1263.187794, 1252.290327 ] }, { "date": "2025-04-18", "close": 1172.209106, "volume": 6646420, "typical_volume": 7949043.85, "trend": 1218.91391, "fair_value": 967.556977, "relative_strength": 4.400128, "stage": 2, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -29.58354, "energy": 56.929248, "activity_lines": [ 1176.174804, 1213.352419, 1253.569751, 1249.592377 ] }, { "date": "2025-04-25", "close": 1151.714233, "volume": 8644183, "typical_volume": 8116471.05, "trend": 1223.133999, "fair_value": 969.907327, "relative_strength": 0.649826, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -43.820834, "energy": 61.603621, "activity_lines": [ 1166.310595, 1195.327135, 1242.287074, 1245.256914 ] }, { "date": "2025-05-02", "close": 1182.206665, "volume": 8931446, "typical_volume": 8204489.9, "trend": 1228.553764, "fair_value": 972.569699, "relative_strength": 0.890353, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -35.52786, "energy": 47.309813, "activity_lines": [ 1168.276782, 1186.332779, 1234.38849, 1242.616441 ] }, { "date": "2025-05-09", "close": 1164.211182, "volume": 7893230, "typical_volume": 8010126.6, "trend": 1233.123775, "fair_value": 975.270416, "relative_strength": -0.413121, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -35.494736, "energy": 38.421119, "activity_lines": [ 1167.2104, 1177.253409, 1225.248945, 1238.465307 ] }, { "date": "2025-05-16", "close": 1198.202637, "volume": 9373020, "typical_volume": 8344396.75, "trend": 1238.460307, "fair_value": 978.091683, "relative_strength": 0.619299, "stage": 3, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -48.02738, "energy": 34.960611, "activity_lines": [ 1178.007699, 1177.931998, 1219.843387, 1236.21233 ] }, { "date": "2025-05-23", "close": 1211.699341, "volume": 7493690, "typical_volume": 8582066.95, "trend": 1244.096785, "fair_value": 981.101935, "relative_strength": 1.005074, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -41.923317, "energy": 25.257862, "activity_lines": [ 1190.671224, 1182.597468, 1216.158033, 1234.485816 ] }, { "date": "2025-05-30", "close": 1164.710938, "volume": 9229647, "typical_volume": 8785021.65, "trend": 1244.335103, "fair_value": 983.772554, "relative_strength": -3.759532, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -48.361843, "energy": 28.300369, "activity_lines": [ 1185.039266, 1179.552759, 1208.370507, 1229.364149 ] }, { "date": "2025-06-06", "close": 1095.228271, "volume": 16499427, "typical_volume": 9149438.05, "trend": 1240.724581, "fair_value": 986.050286, "relative_strength": -10.263308, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -76.659524, "energy": 46.420259, "activity_lines": [ 1155.379972, 1164.092967, 1194.571773, 1219.744353 ] }, { "date": "2025-06-13", "close": 1065.735596, "volume": 9066188, "typical_volume": 9212695.5, "trend": 1236.564136, "fair_value": 988.044179, "relative_strength": -12.853362, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -81.833233, "energy": 76.214493, "activity_lines": [ 1121.688346, 1145.661184, 1178.88461, 1208.454741 ] }, { "date": "2025-06-20", "close": 1079.732056, "volume": 9826408, "typical_volume": 9377555.6, "trend": 1231.654032, "fair_value": 989.965127, "relative_strength": -11.006935, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -73.881804, "energy": 84.510215, "activity_lines": [ 1099.227246, 1131.710094, 1165.536541, 1198.336543 ] }, { "date": "2025-06-27", "close": 1071.234253, "volume": 9821961, "typical_volume": 9359596.9, "trend": 1226.277405, "fair_value": 992.072399, "relative_strength": -11.955566, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -71.892017, "energy": 86.219728, "activity_lines": [ 1081.831584, 1117.649958, 1152.628012, 1187.986879 ] }, { "date": "2025-07-04", "close": 1069.734497, "volume": 7143815, "typical_volume": 9384039.7, "trend": 1220.184375, "fair_value": 993.956157, "relative_strength": -12.301842, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -69.965681, "energy": 85.617348, "activity_lines": [ 1073.300342, 1105.153045, 1140.730306, 1177.887337 ] }, { "date": "2025-07-11", "close": 1052.238892, "volume": 7740940, "typical_volume": 9551625.3, "trend": 1212.541858, "fair_value": 995.809737, "relative_strength": -14.816532, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -74.612627, "energy": 85.185671, "activity_lines": [ 1065.268994, 1090.965654, 1128.469955, 1167.052145 ] }, { "date": "2025-07-18", "close": 1048.739746, "volume": 6156393, "typical_volume": 9298667.15, "trend": 1205.215873, "fair_value": 997.465411, "relative_strength": -15.484177, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -72.943828, "energy": 74.170513, "activity_lines": [ 1058.937223, 1078.505105, 1117.329907, 1156.484266 ] }, { "date": "2025-07-25", "close": 1057.237671, "volume": 13552679, "typical_volume": 9507615.85, "trend": 1197.473413, "fair_value": 999.397146, "relative_strength": -15.869573, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -65.50647, "energy": 60.525278, "activity_lines": [ 1056.571151, 1069.689114, 1108.486065, 1146.937286 ] }, { "date": "2025-08-01", "close": 1137.217896, "volume": 10444333, "typical_volume": 9704735.1, "trend": 1192.380302, "fair_value": 1001.010307, "relative_strength": -8.952016, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -50.295697, "energy": 42.485161, "activity_lines": [ 1082.364779, 1077.977981, 1108.332133, 1143.049833 ] }, { "date": "2025-08-08", "close": 1074.733276, "volume": 12498278, "typical_volume": 9806637.75, "trend": 1185.137728, "fair_value": 1002.253247, "relative_strength": -14.098737, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -47.627085, "energy": 34.961303, "activity_lines": [ 1082.931291, 1076.260216, 1102.800167, 1135.459702 ] }, { "date": "2025-08-15", "close": 1062.814087, "volume": 7004246, "typical_volume": 9634440.0, "trend": 1177.614469, "fair_value": 1003.435153, "relative_strength": -15.342573, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -50.511156, "energy": 32.424601, "activity_lines": [ 1079.191488, 1074.011284, 1096.618636, 1127.567854 ] }, { "date": "2025-08-22", "close": 1098.807861, "volume": 7030861, "typical_volume": 9466923.75, "trend": 1171.674194, "fair_value": 1004.91824, "relative_strength": -14.097548, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -39.17631, "energy": 21.697796, "activity_lines": [ 1086.744596, 1078.896023, 1094.64547, 1122.483557 ] }, { "date": "2025-08-29", "close": 1076.811646, "volume": 7366742, "typical_volume": 9118195.35, "trend": 1162.834867, "fair_value": 1006.11686, "relative_strength": -14.482811, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -43.170846, "energy": 28.855379, "activity_lines": [ 1083.627759, 1079.180136, 1090.926957, 1116.363393 ] }, { "date": "2025-09-05", "close": 1045.317139, "volume": 9523575, "typical_volume": 9262053.1, "trend": 1153.895361, "fair_value": 1006.952195, "relative_strength": -16.966912, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -67.710848, "energy": 42.177007, "activity_lines": [ 1068.707821, 1073.791073, 1084.598971, 1108.781604 ] }, { "date": "2025-09-12", "close": 1049.316406, "volume": 7138935, "typical_volume": 9186790.7, "trend": 1144.089543, "fair_value": 1007.924608, "relative_strength": -17.144662, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -63.769609, "energy": 41.809037, "activity_lines": [ 1061.247689, 1069.600371, 1079.256115, 1102.034574 ] }, { "date": "2025-09-19", "close": 1038.818359, "volume": 8770429, "typical_volume": 9178739.85, "trend": 1133.467297, "fair_value": 1009.071823, "relative_strength": -17.24196, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -66.844138, "energy": 53.779049, "activity_lines": [ 1051.982666, 1063.87217, 1073.401053, 1095.242885 ] }, { "date": "2025-09-26", "close": 1042.817627, "volume": 8818110, "typical_volume": 9224983.85, "trend": 1122.861739, "fair_value": 1010.204965, "relative_strength": -17.405747, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -62.197895, "energy": 59.305491, "activity_lines": [ 1045.650448, 1059.115119, 1068.609676, 1089.394519 ] }, { "date": "2025-10-03", "close": 1059.814575, "volume": 8358919, "typical_volume": 9174278.8, "trend": 1115.438424, "fair_value": 1011.206246, "relative_strength": -17.752385, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -57.715427, "energy": 41.495701, "activity_lines": [ 1048.716561, 1057.556097, 1066.01512, 1085.32696 ] }, { "date": "2025-10-10", "close": 1051.81604, "volume": 8995120, "typical_volume": 9249350.3, "trend": 1108.581506, "fair_value": 1012.184434, "relative_strength": -17.670583, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -54.371549, "energy": 36.601906, "activity_lines": [ 1050.249634, 1054.495943, 1063.31779, 1081.22229 ] }, { "date": "2025-10-17", "close": 1119.304199, "volume": 10711767, "typical_volume": 9323456.3, "trend": 1106.668046, "fair_value": 1013.675938, "relative_strength": -11.648262, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -14.505125, "energy": 8.848946, "activity_lines": [ 1073.8455, 1065.259124, 1067.809253, 1081.914077 ] }, { "date": "2025-10-24", "close": 1128.802612, "volume": 6785162, "typical_volume": 8837743.05, "trend": 1103.404948, "fair_value": 1014.809463, "relative_strength": -13.471537, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": 4.218746, "energy": 15.153266, "activity_lines": [ 1095.94165, 1076.938909, 1073.421549, 1083.342113 ] }, { "date": "2025-10-31", "close": 1059.814575, "volume": 8281410, "typical_volume": 8798504.15, "trend": 1099.658464, "fair_value": 1015.511004, "relative_strength": -18.984936, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -17.859359, "energy": 18.338382, "activity_lines": [ 1089.042838, 1074.875624, 1072.303678, 1080.529831 ] }, { "date": "2025-11-07", "close": 990.826721, "volume": 17891014, "typical_volume": 9201734.45, "trend": 1094.06227, "fair_value": 1015.856137, "relative_strength": -23.475927, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -63.327436, "energy": 26.262566, "activity_lines": [ 1058.014945, 1060.97806, 1064.64373, 1073.508429 ] }, { "date": "2025-11-14", "close": 1008.823547, "volume": 6869563, "typical_volume": 9054114.55, "trend": 1088.616085, "fair_value": 1016.065571, "relative_strength": -21.721827, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -62.460222, "energy": 48.986935, "activity_lines": [ 1037.585184, 1051.91601, 1059.121125, 1068.009156 ] }, { "date": "2025-11-21", "close": 998.425354, "volume": 6333468, "typical_volume": 9013597.2, "trend": 1083.506455, "fair_value": 1016.195541, "relative_strength": -20.736828, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -65.899812, "energy": 66.575651, "activity_lines": [ 1016.555526, 1041.626899, 1052.905409, 1062.190399 ] }, { "date": "2025-11-28", "close": 997.425537, "volume": 13580597, "typical_volume": 9305580.05, "trend": 1077.347085, "fair_value": 1016.495871, "relative_strength": -21.763549, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -64.211078, "energy": 71.204007, "activity_lines": [ 1003.251184, 1032.081294, 1046.93404, 1056.636792 ] }, { "date": "2025-12-05", "close": 992.026489, "volume": 13592901, "typical_volume": 9677405.45, "trend": 1071.607595, "fair_value": 1016.856382, "relative_strength": -21.200293, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -66.545616, "energy": 71.824592, "activity_lines": [ 996.905631, 1022.306642, 1040.709492, 1051.132237 ] }, { "date": "2025-12-12", "close": 1044.817261, "volume": 9039141, "typical_volume": 9451728.55, "trend": 1066.494749, "fair_value": 1017.665455, "relative_strength": -16.282085, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -57.719495, "energy": 46.185399, "activity_lines": [ 1012.676208, 1023.053786, 1039.7827, 1049.403828 ] }, { "date": "2025-12-19", "close": 1057.315063, "volume": 12409858, "typical_volume": 9550004.8, "trend": 1061.348606, "fair_value": 1018.438078, "relative_strength": -16.787347, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -34.910779, "energy": 21.077699, "activity_lines": [ 1029.01335, 1026.345937, 1040.105319, 1048.811591 ] }, { "date": "2025-12-26", "close": 1053.815674, "volume": 2237764, "typical_volume": 9036979.1, "trend": 1057.652098, "fair_value": 1019.17802, "relative_strength": -16.192323, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -27.532154, "energy": 16.641638, "activity_lines": [ 1040.951261, 1028.901853, 1040.475153, 1048.325595 ] }, { "date": "2026-01-02", "close": 1019.321716, "volume": 3468665, "typical_volume": 8860200.05, "trend": 1055.121879, "fair_value": 1019.93126, "relative_strength": -18.924373, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -32.812406, "energy": 20.871408, "activity_lines": [ 1037.698498, 1026.376841, 1037.659455, 1045.852667 ] }, { "date": "2026-01-09", "close": 1059.814575, "volume": 7129850, "typical_volume": 8865149.5, "trend": 1054.924512, "fair_value": 1020.777548, "relative_strength": -16.48769, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -17.060544, "energy": 14.608213, "activity_lines": [ 1046.48361, 1033.204728, 1038.907327, 1046.155422 ] }, { "date": "2026-01-16", "close": 938.835815, "volume": 15253069, "typical_volume": 9259465.85, "trend": 1050.22797, "fair_value": 1020.891882, "relative_strength": -26.143522, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -68.24618, "energy": 37.986915, "activity_lines": [ 1010.423262, 1018.036478, 1028.819095, 1038.665828 ] }, { "date": "2026-01-23", "close": 968.830566, "volume": 10134264, "typical_volume": 9290000.3, "trend": 1046.814514, "fair_value": 1021.153658, "relative_strength": -22.436633, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -60.466686, "energy": 54.504289, "activity_lines": [ 991.426595, 1009.267107, 1022.244533, 1033.414383 ] }, { "date": "2026-01-30", "close": 957.232605, "volume": 10951043, "typical_volume": 9480605.7, "trend": 1043.064451, "fair_value": 1021.259107, "relative_strength": -23.233277, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -64.241702, "energy": 65.353869, "activity_lines": [ 974.462907, 999.116162, 1014.929625, 1027.634905 ] }, { "date": "2026-02-06", "close": 898.24292, "volume": 18151169, "typical_volume": 9949642.7, "trend": 1037.931252, "fair_value": 1021.322023, "relative_strength": -28.252414, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -81.832311, "energy": 82.419436, "activity_lines": [ 944.274862, 978.988778, 1002.435147, 1018.29158 ] }, { "date": "2026-02-13", "close": 919.839111, "volume": 13424586, "typical_volume": 10179966.5, "trend": 1033.634564, "fair_value": 1021.344044, "relative_strength": -26.293683, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -67.681184, "energy": 77.165679, "activity_lines": [ 929.357466, 964.591295, 992.666855, 1010.672733 ] }, { "date": "2026-02-20", "close": 927.837708, "volume": 10457645, "typical_volume": 10284902.8, "trend": 1029.321232, "fair_value": 1021.412215, "relative_strength": -26.498311, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -64.27936, "energy": 72.84381, "activity_lines": [ 926.437968, 952.9606, 984.245947, 1003.847129 ] }, { "date": "2026-02-27", "close": 959.632141, "volume": 14644557, "typical_volume": 10567374.65, "trend": 1023.401707, "fair_value": 1021.876338, "relative_strength": -24.722846, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -60.748553, "energy": 53.774308, "activity_lines": [ 934.849821, 949.237612, 979.481541, 999.351059 ] }, { "date": "2026-03-06", "close": 975.829346, "volume": 12477317, "typical_volume": 10655652.15, "trend": 1020.104909, "fair_value": 1022.669734, "relative_strength": -18.081648, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -53.805298, "energy": 35.021038, "activity_lines": [ 949.273971, 950.235623, 976.698696, 996.281874 ] }, { "date": "2026-03-13", "close": 987.427246, "volume": 17291652, "typical_volume": 11180976.65, "trend": 1017.592014, "fair_value": 1023.634826, "relative_strength": -16.229638, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -37.400011, "energy": 20.351838, "activity_lines": [ 966.324304, 954.760277, 975.703628, 994.173638 ] }, { "date": "2026-03-20", "close": 957.400024, "volume": 22241460, "typical_volume": 11878979.15, "trend": 1012.87842, "fair_value": 1024.564051, "relative_strength": -15.408792, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -33.311047, "energy": 19.466538, "activity_lines": [ 967.419942, 954.405336, 972.52204, 990.290283 ] }, { "date": "2026-03-27", "close": 953.799988, "volume": 11158114, "typical_volume": 11542334.15, "trend": 1008.778031, "fair_value": 1025.269054, "relative_strength": -15.487185, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -33.45002, "energy": 18.174233, "activity_lines": [ 964.811507, 955.257925, 969.485279, 986.478772 ] }, { "date": "2026-04-03", "close": 1009.0, "volume": 9183296, "typical_volume": 11658020.8, "trend": 1007.56746, "fair_value": 1026.339435, "relative_strength": -13.898724, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -18.148131, "energy": 13.408435, "activity_lines": [ 978.872257, 965.874804, 971.881981, 986.493092 ] }, { "date": "2026-04-10", "close": 997.0, "volume": 8451953, "typical_volume": 11763945.05, "trend": 1005.82358, "fair_value": 1027.321361, "relative_strength": -15.496131, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -10.273797, "energy": 9.066601, "activity_lines": [ 985.641817, 973.579511, 973.134985, 985.811321 ] }, { "date": "2026-04-17", "close": 1080.0, "volume": 10288621, "typical_volume": 11599346.25, "trend": 1007.196301, "fair_value": 1028.784092, "relative_strength": -8.397501, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 37.671397, "energy": 35.206415, "activity_lines": [ 1018.666667, 995.652084, 982.299538, 990.596896 ] }, { "date": "2026-04-24", "close": 1071.5, "volume": 9938284, "typical_volume": 11416615.4, "trend": 1008.15238, "fair_value": 1029.970694, "relative_strength": -6.042591, "stage": 1, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 35.722558, "energy": 55.846512, "activity_lines": [ 1042.686666, 1012.874528, 990.261356, 994.745522 ] }, { "date": "2026-05-01", "close": 1115.0, "volume": 7476118, "typical_volume": 11338464.25, "trend": 1009.991894, "fair_value": 1031.835868, "relative_strength": -1.569016, "stage": 1, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 52.886746, "energy": 70.549187, "activity_lines": [ 1073.6, 1035.248593, 1001.987586, 1001.638917 ] }, { "date": "2026-05-08", "close": 1090.917969, "volume": 8040555, "typical_volume": 11119999.1, "trend": 1011.295292, "fair_value": 1033.558199, "relative_strength": -1.955393, "stage": 2, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 42.837871, "energy": 70.873451, "activity_lines": [ 1085.739323, 1049.841155, 1011.086085, 1006.859954 ] }, { "date": "2026-05-15", "close": 1099.5, "volume": 5913183, "typical_volume": 11303770.05, "trend": 1010.635152, "fair_value": 1035.288141, "relative_strength": -0.287424, "stage": 2, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "up", "direction": 69.154659, "energy": 79.344619, "activity_lines": [ 1095.278125, 1063.607072, 1020.841907, 1012.55058 ] }, { "date": "2026-05-22", "close": 1132.0, "volume": 8901876, "typical_volume": 11575430.6, "trend": 1010.741732, "fair_value": 1037.418591, "relative_strength": 0.554072, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 77.641812, "energy": 81.409534, "activity_lines": [ 1108.816927, 1081.033523, 1033.475423, 1020.38057 ] }, { "date": "2026-05-29", "close": 1112.0, "volume": 13898988, "typical_volume": 11913887.5, "trend": 1012.481246, "fair_value": 1039.290156, "relative_strength": -0.2188, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 64.838836, "energy": 69.324224, "activity_lines": [ 1112.222396, 1092.195014, 1043.667613, 1026.913362 ] }, { "date": "2026-06-05", "close": 1159.5, "volume": 3057702, "typical_volume": 11304119.15, "trend": 1018.103688, "fair_value": 1041.473896, "relative_strength": 4.684227, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 78.774481, "energy": 72.161158, "activity_lines": [ 1128.761198, 1109.18196, 1058.135111, 1036.398443 ] }, { "date": "2026-06-12", "close": 1147.0, "volume": 1472860, "typical_volume": 10871048.95, "trend": 1022.70957, "fair_value": 1043.5032, "relative_strength": 2.73238, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 69.511709, "energy": 66.674219, "activity_lines": [ 1138.166667, 1120.156179, 1070.361351, 1044.714334 ] }, { "date": "2026-06-19", "close": 1135.5, "volume": 4974744, "typical_volume": 10572234.0, "trend": 1027.278725, "fair_value": 1045.51772, "relative_strength": 3.016671, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 63.520432, "energy": 60.227008, "activity_lines": [ 1140.0, 1126.530398, 1080.643927, 1051.991136 ] }, { "date": "2026-06-26", "close": 1176.0, "volume": 1097301, "typical_volume": 9719540.6, "trend": 1033.231207, "fair_value": 1047.790573, "relative_strength": 5.40917, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 74.567067, "energy": 67.281476, "activity_lines": [ 1152.933333, 1137.750071, 1093.934753, 1061.586057 ] }, { "date": "2026-07-03", "close": 1226.5, "volume": 753681, "typical_volume": 9085995.35, "trend": 1041.046991, "fair_value": 1050.414049, "relative_strength": 8.300719, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 83.301564, "energy": 78.277459, "activity_lines": [ 1179.766667, 1156.406108, 1110.712451, 1074.055011 ] }, { "date": "2026-07-10", "close": 1268.0, "volume": 9509306, "typical_volume": 9038578.4, "trend": 1048.486416, "fair_value": 1053.165184, "relative_strength": 13.83908, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 87.607204, "energy": 89.295104, "activity_lines": [ 1212.8, 1179.789418, 1129.982239, 1088.697141 ] }, { "date": "2026-07-17", "close": 1255.5, "volume": 11538907, "typical_volume": 8883295.9, "trend": 1055.09258, "fair_value": 1055.67092, "relative_strength": 11.583952, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 76.546803, "energy": 87.508528, "activity_lines": [ 1234.433333, 1198.118182, 1146.441731, 1102.052856 ] }, { "date": "2026-07-24", "close": 1226.0, "volume": 6643150, "typical_volume": 8591587.55, "trend": 1060.832058, "fair_value": 1057.959368, "relative_strength": 7.617567, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 65.605422, "energy": 78.840294, "activity_lines": [ 1239.0, 1208.090909, 1158.682805, 1113.079141 ] }, { "date": "2026-07-31", "close": 1257.0, "volume": 8599844, "typical_volume": 8156997.15, "trend": 1068.754667, "fair_value": 1060.642553, "relative_strength": 9.192406, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 70.011139, "energy": 64.269825, "activity_lines": [ 1247.866667, 1221.4, 1172.68497, 1125.735137 ] }, { "date": "2026-08-07", "close": 1224.0, "volume": 13239113, "typical_volume": 7706879.8, "trend": 1074.227515, "fair_value": 1063.154757, "relative_strength": 6.117119, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 62.692829, "energy": 54.908464, "activity_lines": [ 1240.333333, 1226.436364, 1182.260599, 1135.750965 ] } ], "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." } } }