{ "ticker": { "uuid": "f57d3bf7-3b6a-48e8-9673-94e0703655d9", "symbol": "EXCS", "name": "UBS MSCI EM ex China Socially Responsible UCITS ETF USD acc", "exchange": "MIL", "country": "IT", "assetType": "etf" }, "methodBoundary": "Trend Architecture is a weekly structural classification, not a forecast, probability of return, recommendation or execution signal. Confidence measures geometric agreement and external confirmation only.", "analysis": { "eligible": true, "as_of": "2026-08-07", "benchmark": "FTSEMIB.MI", "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": "deceleration", "architecture_regime_label": "Deceleration", "architecture_modifier": "Recompressing", "architecture_gate": "up", "architecture_direction": 31.809, "architecture_energy": 28.849, "architecture_maturity": 68.568, "architecture_confidence": 94.938, "architecture_tenure": "New", "architecture": { "interpretation": { "headline": "The upward structure remains, but its energy is decelerating.", "body": "Trend remains positive, but Activity or price acceptance is losing strength. This can become a healthy recompression, a re-acceleration, or a Rotation Down." }, "scores": { "balance": 47.49, "rotation_up": 22.34, "upward_expansion": 57.12, "deceleration": 91.17, "rotation_down": 34.42, "downward_expansion": 20.79 }, "activity_lines": [ 8.961067, 9.171564, 9.050881, 8.659933 ], "activity_state": "Compressed", "activity_direction": "Contracting", "rotation_direction": "Weakening", "price_acceptance": 0.166667 }, "latest_close": 9.104, "trend_reference": 8.131433, "distance_from_trend": 0.119606, "trend_direction": "Improving", "fair_value": 6.012766, "distance_from_fair_value": 0.514112, "fair_value_direction": "Weakening", "relative_strength": 8.969744, "relative_strength_direction": "Weakening", "price_momentum": 0.285876, "excess_performance": 0.114984, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.119606, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.142253, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.514112, "read": "Premium" }, { "label": "Fair Value direction", "positive": false, "value": -0.04508, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": true, "value": 0.089697, "read": "Leading" }, { "label": "Relative strength direction", "positive": false, "value": -0.157176, "read": "Weakening" }, { "label": "Price momentum", "positive": true, "value": 0.285876, "read": "Positive" }, { "label": "Volume balance", "positive": true, "value": 3.167165, "read": "Demand-led" } ], "volume": { "latest": 563, "relative_activity": 0.10805, "balance": 3.167165, "dry_up": 0.277274, "accumulation_observations": 2, "distribution_observations": 0 }, "risk": { "range_context": 0.052969, "annualized_volatility": 0.287989, "from_high_reference": -0.091054, "from_low_reference": 0.661314 }, "levels": { "trend_reference": 8.131433, "fair_value_reference": 6.012766, "structural_low": 6.64, "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis." }, "outcomes": [ { "horizon": "Near term", "sample_count": 1, "median_return": 0.149848, "positive_rate": 1.0, "directional_follow_through": 1.0, "median_excess_return": 0.092401, "regime_survival": 0.0, "best_return": 0.149848, "worst_return": 0.149848, "sufficient": false }, { "horizon": "Intermediate", "sample_count": 1, "median_return": 0.410453, "positive_rate": 1.0, "directional_follow_through": 1.0, "median_excess_return": 0.252776, "regime_survival": 0.0, "best_return": 0.410453, "worst_return": 0.410453, "sufficient": false }, { "horizon": "Extended", "sample_count": 0, "median_return": null, "positive_rate": null, "directional_follow_through": null, "median_excess_return": null, "regime_survival": null, "best_return": null, "worst_return": null, "sufficient": false }, { "horizon": "Full cycle", "sample_count": 0, "median_return": null, "positive_rate": null, "directional_follow_through": null, "median_excess_return": null, "regime_survival": null, "best_return": null, "worst_return": null, "sufficient": false } ], "ledger": [ { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-10-03", "end": "2026-03-27", "tenure": "Established", "return": 0.16268, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2026-04-03", "end": "2026-04-17", "tenure": "New", "return": 0.135515, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-04-24", "end": "2026-07-24", "tenure": "Established", "return": 0.129061, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2026-07-31", "end": "2026-08-07", "tenure": "New", "return": 0.046557, "active": true } ], "chart_path": [ { "date": "2024-03-29", "close": 4.837, "volume": 500, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-04-05", "close": 4.815, "volume": 3000, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-04-12", "close": 4.7995, "volume": 1500, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-04-19", "close": 4.6565, "volume": 85, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-04-26", "close": 4.742, "volume": 2500, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-05-03", "close": 4.8005, "volume": 1500, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-05-10", "close": 4.8005, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-05-17", "close": 4.8005, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-05-24", "close": 4.8005, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-05-31", "close": 4.8005, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-06-07", "close": 4.8965, "volume": 1500, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-06-14", "close": 4.8965, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-06-21", "close": 5.21, "volume": 750, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-06-28", "close": 5.21, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-07-05", "close": 5.21, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-07-12", "close": 5.284, "volume": 1999, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-07-19", "close": 5.284, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-07-26", "close": 5.088, "volume": 7451, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-08-02", "close": 5.201, "volume": 7997, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-08-09", "close": 4.9885, "volume": 1, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-08-16", "close": 5.106, "volume": 1999, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-08-23", "close": 5.204, "volume": 492, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-08-30", "close": 5.236, "volume": 2492, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-09-06", "close": 5.236, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-09-13", "close": 5.042, "volume": 13994, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-09-20", "close": 5.145, "volume": 4290, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-09-27", "close": 5.399, "volume": 13019, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-10-04", "close": 5.301, "volume": 4000, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-10-11", "close": 5.338, "volume": 17996, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-10-18", "close": 5.446, "volume": 2021, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-10-25", "close": 5.352, "volume": 14111, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-01", "close": 5.213, "volume": 25987, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-08", "close": 5.32, "volume": 12635, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-15", "close": 5.284, "volume": 160, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-22", "close": 5.284, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-29", "close": 5.293, "volume": 9400, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-12-06", "close": 5.293, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-12-13", "close": 5.453, "volume": 1999, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-12-20", "close": 5.453, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-12-27", "close": 5.453, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-03", "close": 5.379, "volume": 1999, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-10", "close": 5.379, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-17", "close": 5.379, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-24", "close": 5.387, "volume": 412, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-31", "close": 5.387, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-02-07", "close": 5.398, "volume": 5998, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-02-14", "close": 5.398, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-02-21", "close": 5.398, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-02-28", "close": 5.398, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-03-07", "close": 5.028, "volume": 2014, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-03-14", "close": 5.028, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-03-21", "close": 5.028, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-03-28", "close": 5.028, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-04-04", "close": 5.028, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-04-11", "close": 4.502, "volume": 335, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-04-18", "close": 4.5855, "volume": 3998, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-04-25", "close": 4.6875, "volume": 150, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-02", "close": 4.6875, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-09", "close": 4.6875, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-16", "close": 5.18, "volume": 435, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-23", "close": 5.18, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-30", "close": 5.065, "volume": 100, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-06-06", "close": 5.065, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-06-13", "close": 5.065, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-06-20", "close": 5.065, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-06-27", "close": 5.065, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-07-04", "close": 5.065, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-07-11", "close": 5.065, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-07-18", "close": 5.065, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-07-25", "close": 5.496, "volume": 7384, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-01", "close": 5.496, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-08", "close": 5.496, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-15", "close": 5.542, "volume": 365, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-22", "close": 5.542, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-29", "close": 5.48, "volume": 27, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-09-05", "close": 5.48, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-09-12", "close": 5.808, "volume": 455, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-09-19", "close": 5.904, "volume": 370, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-09-26", "close": 5.8, "volume": 6719, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-10-03", "close": 5.895, "volume": 15753, "typical_volume": 1558.65, "trend": 5.2027, "fair_value": 5.1823, "relative_strength": -2.034812, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 82.199741, "energy": 73.695857, "activity_lines": [ 5.8322, 5.72, 5.533476, 5.382845 ] }, { "date": "2025-10-10", "close": 5.98, "volume": 3131, "typical_volume": 1715.2, "trend": 5.234433, "fair_value": 5.192148, "relative_strength": 2.426855, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 85.296114, "energy": 74.669787, "activity_lines": [ 5.899733, 5.781036, 5.590433, 5.432994 ] }, { "date": "2025-10-17", "close": 6.073, "volume": 1110, "typical_volume": 1765.7, "trend": 5.269267, "fair_value": 5.20289, "relative_strength": 4.876757, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 89.888057, "energy": 76.133627, "activity_lines": [ 5.964933, 5.850182, 5.652438, 5.487095 ] }, { "date": "2025-10-24", "close": 6.169, "volume": 1320, "typical_volume": 1831.7, "trend": 5.3073, "fair_value": 5.21453, "relative_strength": 4.833183, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 95.68211, "energy": 97.633369, "activity_lines": [ 6.044467, 5.926291, 5.718786, 5.545142 ] }, { "date": "2025-10-31", "close": 6.205, "volume": 0, "typical_volume": 1831.7, "trend": 5.346533, "fair_value": 5.226321, "relative_strength": 3.860093, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 90.897763, "energy": 96.732247, "activity_lines": [ 6.118333, 5.997545, 5.783305, 5.603058 ] }, { "date": "2025-11-07", "close": 6.205, "volume": 0, "typical_volume": 1831.7, "trend": 5.4033, "fair_value": 5.237835, "relative_strength": 4.667331, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 81.272068, "energy": 93.394306, "activity_lines": [ 6.1652, 6.056745, 5.842395, 5.658443 ] }, { "date": "2025-11-14", "close": 6.325, "volume": 1500, "typical_volume": 1906.7, "trend": 5.461283, "fair_value": 5.250477, "relative_strength": 4.236037, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 90.472951, "energy": 96.431216, "activity_lines": [ 6.2314, 6.124582, 5.907486, 5.717908 ] }, { "date": "2025-11-21", "close": 6.166, "volume": 390, "typical_volume": 1926.2, "trend": 5.510567, "fair_value": 5.261, "relative_strength": 4.984325, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 68.503458, "energy": 68.651153, "activity_lines": [ 6.2216, 6.148145, 5.951433, 5.763373 ] }, { "date": "2025-11-28", "close": 6.218, "volume": 1000, "typical_volume": 1976.2, "trend": 5.561583, "fair_value": 5.271875, "relative_strength": 4.391191, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 66.901782, "energy": 67.555091, "activity_lines": [ 6.222933, 6.174655, 5.99509, 5.809014 ] }, { "date": "2025-12-05", "close": 6.248, "volume": 1638, "typical_volume": 2058.1, "trend": 5.6136, "fair_value": 5.282843, "relative_strength": 4.835491, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 70.210699, "energy": 67.836027, "activity_lines": [ 6.231, 6.200909, 6.036114, 5.853299 ] }, { "date": "2025-12-12", "close": 6.205, "volume": 1141, "typical_volume": 1745.95, "trend": 5.647767, "fair_value": 5.293089, "relative_strength": 4.120068, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 64.529279, "energy": 64.587336, "activity_lines": [ 6.221867, 6.2112, 6.06741, 5.891454 ] }, { "date": "2025-12-19", "close": 6.245, "volume": 2131, "typical_volume": 1852.5, "trend": 5.683267, "fair_value": 5.303549, "relative_strength": 2.193911, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 69.593347, "energy": 66.228768, "activity_lines": [ 6.226067, 6.223127, 6.099138, 5.929985 ] }, { "date": "2025-12-26", "close": 6.313, "volume": 1000, "typical_volume": 1902.5, "trend": 5.724867, "fair_value": 5.314522, "relative_strength": 3.921337, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 78.902842, "energy": 69.910771, "activity_lines": [ 6.258267, 6.2426, 6.133776, 5.970613 ] }, { "date": "2026-01-02", "close": 6.352, "volume": 1120, "typical_volume": 1940.25, "trend": 5.767767, "fair_value": 5.325677, "relative_strength": 3.052216, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 82.073905, "energy": 73.792736, "activity_lines": [ 6.293667, 6.2648, 6.168238, 6.011073 ] }, { "date": "2026-01-09", "close": 6.352, "volume": 0, "typical_volume": 1940.25, "trend": 5.810667, "fair_value": 5.336596, "relative_strength": 2.482846, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 78.669493, "energy": 79.531496, "activity_lines": [ 6.320133, 6.283673, 6.198843, 6.048766 ] }, { "date": "2026-01-16", "close": 6.352, "volume": 0, "typical_volume": 1938.9, "trend": 5.853567, "fair_value": 5.347284, "relative_strength": 2.44143, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 72.851242, "energy": 86.449817, "activity_lines": [ 6.339667, 6.299873, 6.22559, 6.08369 ] }, { "date": "2026-01-23", "close": 6.97, "volume": 300, "typical_volume": 1953.9, "trend": 5.917067, "fair_value": 5.364187, "relative_strength": 14.726712, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 99.624656, "energy": 92.598369, "activity_lines": [ 6.5554, 6.425764, 6.307043, 6.155718 ] }, { "date": "2026-01-30", "close": 6.991, "volume": 1851, "typical_volume": 2023.7, "trend": 5.981267, "fair_value": 5.380959, "relative_strength": 13.221645, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 98.590279, "energy": 98.875809, "activity_lines": [ 6.7298, 6.543745, 6.3834, 6.225004 ] }, { "date": "2026-02-06", "close": 7.08, "volume": 3147, "typical_volume": 2162.55, "trend": 6.048433, "fair_value": 5.398296, "relative_strength": 13.648794, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 95.229959, "energy": 97.319206, "activity_lines": [ 6.888667, 6.662909, 6.4626, 6.29589 ] }, { "date": "2026-02-13", "close": 7.194, "volume": 4262, "typical_volume": 2039.7, "trend": 6.1194, "fair_value": 5.416434, "relative_strength": 16.345225, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 92.92877, "energy": 97.415063, "activity_lines": [ 7.037, 6.787127, 6.547057, 6.369798 ] }, { "date": "2026-02-20", "close": 7.261, "volume": 1061, "typical_volume": 1305.1, "trend": 6.178233, "fair_value": 5.43488, "relative_strength": 14.54102, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 88.615892, "energy": 95.999265, "activity_lines": [ 7.151533, 6.906327, 6.631257, 6.443449 ] }, { "date": "2026-02-27", "close": 7.555, "volume": 10788, "typical_volume": 1687.95, "trend": 6.246867, "fair_value": 5.455871, "relative_strength": 16.982126, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 96.64844, "energy": 97.845107, "activity_lines": [ 7.303467, 7.059782, 6.736952, 6.532273 ] }, { "date": "2026-03-06", "close": 7.132, "volume": 1122, "typical_volume": 1688.55, "trend": 6.3014, "fair_value": 5.472304, "relative_strength": 17.564523, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 68.468446, "energy": 68.595396, "activity_lines": [ 7.2754, 7.112509, 6.794862, 6.589378 ] }, { "date": "2026-03-13", "close": 6.958, "volume": 6484, "typical_volume": 1946.75, "trend": 6.3486, "fair_value": 5.486728, "relative_strength": 13.840148, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 66.246344, "energy": 66.153757, "activity_lines": [ 7.179933, 7.118709, 6.831157, 6.63174 ] }, { "date": "2026-03-20", "close": 6.907, "volume": 569, "typical_volume": 1975.2, "trend": 6.3941, "fair_value": 5.500385, "relative_strength": 16.373051, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 52.938687, "energy": 54.996888, "activity_lines": [ 7.0756, 7.104618, 6.858838, 6.667766 ] }, { "date": "2026-03-27", "close": 6.854, "volume": 11900, "typical_volume": 2570.2, "trend": 6.4399, "fair_value": 5.513276, "relative_strength": 13.602992, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 41.729004, "energy": 29.898719, "activity_lines": [ 6.972733, 7.0708, 6.878129, 6.697437 ] }, { "date": "2026-04-03", "close": 6.907, "volume": 2201, "typical_volume": 2605.25, "trend": 6.487467, "fair_value": 5.526425, "relative_strength": 8.751487, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 35.595101, "energy": 31.292562, "activity_lines": [ 6.914667, 7.037491, 6.899376, 6.727572 ] }, { "date": "2026-04-10", "close": 7.277, "volume": 1131, "typical_volume": 2642.3, "trend": 6.536433, "fair_value": 5.542785, "relative_strength": 9.491641, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 56.827709, "energy": 32.17087, "activity_lines": [ 7.023133, 7.0726, 6.95309, 6.77851 ] }, { "date": "2026-04-17", "close": 7.843, "volume": 3472, "typical_volume": 2765.9, "trend": 6.601067, "fair_value": 5.564083, "relative_strength": 14.44424, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 86.190266, "energy": 60.630579, "activity_lines": [ 7.3106, 7.205418, 7.055419, 6.862804 ] }, { "date": "2026-04-24", "close": 7.973, "volume": 20393, "typical_volume": 3703.65, "trend": 6.6735, "fair_value": 5.586183, "relative_strength": 18.622574, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 90.481048, "energy": 94.172978, "activity_lines": [ 7.5824, 7.348, 7.16239, 6.951316 ] }, { "date": "2026-05-01", "close": 7.942, "volume": 65, "typical_volume": 3649.85, "trend": 6.741733, "fair_value": 5.6076, "relative_strength": 16.046803, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 82.095557, "energy": 93.292189, "activity_lines": [ 7.7728, 7.470782, 7.258195, 7.033155 ] }, { "date": "2026-05-08", "close": 8.788, "volume": 24640, "typical_volume": 4775.3, "trend": 6.835333, "fair_value": 5.636252, "relative_strength": 24.687392, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 96.445688, "energy": 98.541184, "activity_lines": [ 8.172667, 7.735, 7.4263, 7.165172 ] }, { "date": "2026-05-15", "close": 8.696, "volume": 2627, "typical_volume": 4856.65, "trend": 6.922767, "fair_value": 5.663571, "relative_strength": 22.998022, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 88.672395, "energy": 95.83417, "activity_lines": [ 8.416467, 7.960073, 7.573533, 7.285215 ] }, { "date": "2026-05-22", "close": 8.853, "volume": 8096, "typical_volume": 5205.45, "trend": 7.012233, "fair_value": 5.691796, "relative_strength": 23.434936, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 84.647919, "energy": 93.55488, "activity_lines": [ 8.618, 8.185255, 7.724371, 7.409746 ] }, { "date": "2026-05-29", "close": 9.401, "volume": 15874, "typical_volume": 5999.15, "trend": 7.118767, "fair_value": 5.724333, "relative_strength": 28.646812, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 92.550795, "energy": 94.274877, "activity_lines": [ 8.934867, 8.475618, 7.91549, 7.56386 ] }, { "date": "2026-06-05", "close": 9.39, "volume": 0, "typical_volume": 5999.15, "trend": 7.224933, "fair_value": 5.756209, "relative_strength": 27.7993, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 85.216826, "energy": 93.624178, "activity_lines": [ 9.152867, 8.718636, 8.091043, 7.710391 ] }, { "date": "2026-06-12", "close": 9.389, "volume": 300, "typical_volume": 5999.15, "trend": 7.327067, "fair_value": 5.787526, "relative_strength": 22.94024, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 78.184082, "energy": 89.903959, "activity_lines": [ 9.274, 8.915364, 8.252033, 7.850009 ] }, { "date": "2026-06-19", "close": 9.9, "volume": 1721, "typical_volume": 5992.65, "trend": 7.451533, "fair_value": 5.822675, "relative_strength": 25.36857, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 90.336223, "energy": 94.484406, "activity_lines": [ 9.5254, 9.159873, 8.450171, 8.016004 ] }, { "date": "2026-06-26", "close": 9.498, "volume": 1648, "typical_volume": 5917.7, "trend": 7.560867, "fair_value": 5.853822, "relative_strength": 23.07824, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 68.34074, "energy": 74.967081, "activity_lines": [ 9.562533, 9.2836, 8.596171, 8.148034 ] }, { "date": "2026-07-03", "close": 9.742, "volume": 1253, "typical_volume": 5767.25, "trend": 7.677333, "fair_value": 5.886496, "relative_strength": 21.646215, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 74.544673, "energy": 70.010818, "activity_lines": [ 9.638, 9.4216, 8.753895, 8.288753 ] }, { "date": "2026-07-10", "close": 9.476, "volume": 3111, "typical_volume": 5869.75, "trend": 7.786367, "fair_value": 5.916408, "relative_strength": 17.981802, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 66.222732, "energy": 66.043729, "activity_lines": [ 9.602067, 9.479073, 8.874152, 8.404796 ] }, { "date": "2026-07-17", "close": 8.809, "volume": 437, "typical_volume": 5352.2, "trend": 7.871833, "fair_value": 5.940314, "relative_strength": 10.609575, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 51.581065, "energy": 51.5507, "activity_lines": [ 9.338067, 9.387382, 8.920338, 8.470772 ] }, { "date": "2026-07-24", "close": 9.002, "volume": 3205, "typical_volume": 5456.35, "trend": 7.961467, "fair_value": 5.96541, "relative_strength": 12.659535, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 45.481403, "energy": 38.293979, "activity_lines": [ 9.177067, 9.3304, 8.978933, 8.543686 ] }, { "date": "2026-07-31", "close": 8.699, "volume": 1574, "typical_volume": 5210.85, "trend": 8.0397, "fair_value": 5.987634, "relative_strength": 7.702107, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 35.088557, "energy": 28.116166, "activity_lines": [ 8.974933, 9.212764, 8.999767, 8.591269 ] }, { "date": "2026-08-07", "close": 9.104, "volume": 563, "typical_volume": 5210.55, "trend": 8.131433, "fair_value": 6.012766, "relative_strength": 8.969744, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 31.808676, "energy": 28.848861, "activity_lines": [ 8.961067, 9.171564, 9.050881, 8.659933 ] } ], "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." } } }