{ "ticker": { "uuid": "f977ec1f-6bb5-4202-beb9-75fdd828c991", "symbol": "JHD", "name": "James Halstead 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": 4, "stage_name": "Declining", "phase": "4b", "phase_label": "Stage 4B \u00b7 Declining", "transition": "stage_4_declining", "transition_label": "Stage 4 decline intact", "confidence": 75.674, "architecture_regime": "downward_expansion", "architecture_regime_label": "Downward Expansion", "architecture_modifier": "Early contraction", "architecture_gate": "down", "architecture_direction": -49.433, "architecture_energy": 33.711, "architecture_maturity": 14.999, "architecture_confidence": 89.984, "architecture_tenure": "Developing", "architecture": { "interpretation": { "headline": "The weekly architecture is expanding downward.", "body": "Trend and Activity show sustained negative alignment with weak price acceptance. Repair requires persistent improvement across the structure, not merely one strong observation." }, "scores": { "balance": 22.61, "rotation_up": 20.24, "upward_expansion": 6.87, "deceleration": 43.94, "rotation_down": 48.98, "downward_expansion": 75.54 }, "activity_lines": [ 124.04, 124.858182, 127.436771, 128.358456 ], "activity_state": "Moderate", "activity_direction": "Expanding", "rotation_direction": "Weakening", "price_acceptance": -0.333333 }, "latest_close": 128.6, "trend_reference": 130.225746, "distance_from_trend": -0.012484, "trend_direction": "Weakening", "fair_value": 166.460526, "distance_from_fair_value": -0.227444, "fair_value_direction": "Weakening", "relative_strength": -12.200201, "relative_strength_direction": "Weakening", "price_momentum": -0.077951, "excess_performance": -0.129186, "evidence": [ { "label": "Price vs Trend", "positive": false, "value": -0.012484, "read": "Below" }, { "label": "Trend direction", "positive": false, "value": -0.030129, "read": "Falling" }, { "label": "Price vs current Fair Value", "positive": false, "value": -0.227444, "read": "Below anchor" }, { "label": "Fair Value direction", "positive": false, "value": -0.011716, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.122002, "read": "Lagging" }, { "label": "Relative strength direction", "positive": false, "value": -0.01706, "read": "Weakening" }, { "label": "Price momentum", "positive": false, "value": -0.077951, "read": "Negative" }, { "label": "Volume balance", "positive": true, "value": 1.452619, "read": "Demand-led" } ], "volume": { "latest": 7041149, "relative_activity": 2.492585, "balance": 1.452619, "dry_up": 1.891723, "accumulation_observations": 4, "distribution_observations": 2 }, "risk": { "range_context": 0.059343, "annualized_volatility": 0.319444, "from_high_reference": -0.203221, "from_low_reference": 0.148445 }, "levels": { "trend_reference": 130.225746, "fair_value_reference": 166.460526, "structural_low": 111.977458, "invalidation": "Reclaiming a flat-to-rising Trend with improving relative strength is required before the declining diagnosis is repaired." }, "outcomes": [ { "horizon": "Near term", "sample_count": 37, "median_return": -0.01083, "positive_rate": 0.405405, "directional_follow_through": 0.594595, "median_excess_return": -0.026239, "regime_survival": 0.810811, "best_return": 0.150365, "worst_return": -0.115208, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 13, "median_return": -0.024737, "positive_rate": 0.461538, "directional_follow_through": 0.538462, "median_excess_return": -0.053561, "regime_survival": 0.538462, "best_return": 0.070651, "worst_return": -0.158192, "sufficient": true }, { "horizon": "Extended", "sample_count": 7, "median_return": -0.014953, "positive_rate": 0.142857, "directional_follow_through": 0.857143, "median_excess_return": -0.101958, "regime_survival": 0.714286, "best_return": 0.005326, "worst_return": -0.203113, "sufficient": true }, { "horizon": "Full cycle", "sample_count": 3, "median_return": -0.207879, "positive_rate": 0.0, "directional_follow_through": 1.0, "median_excess_return": -0.345276, "regime_survival": 0.666667, "best_return": -0.009707, "worst_return": -0.287934, "sufficient": false } ], "ledger": [ { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2024-03-22", "end": "2024-05-03", "tenure": "Developing", "return": 0.041885, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2024-05-10", "end": "2024-06-07", "tenure": "Developing", "return": -0.06456, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2024-06-14", "end": "2024-11-08", "tenure": "Established", "return": 0.058201, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2024-11-15", "end": "2024-12-13", "tenure": "Developing", "return": -0.073232, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2024-12-20", "end": "2025-01-03", "tenure": "New", "return": 0.002833, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2025-01-10", "end": "2025-01-17", "tenure": "New", "return": 0.005714, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-01-24", "end": "2025-05-23", "tenure": "Established", "return": -0.081766, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-05-30", "end": "2025-08-08", "tenure": "Developing", "return": -0.06962, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-08-15", "end": "2026-01-30", "tenure": "Established", "return": -0.034684, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-02-06", "end": "2026-03-06", "tenure": "Developing", "return": -0.075269, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2026-03-13", "end": "2026-04-24", "tenure": "Developing", "return": 0.128163, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2026-05-01", "end": "2026-05-15", "tenure": "New", "return": -0.046118, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-05-22", "end": "2026-06-19", "tenure": "Developing", "return": -0.063158, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2026-06-26", "end": "2026-08-07", "tenure": "Developing", "return": 0.017405, "active": true } ], "chart_path": [ { "date": "2023-08-18", "close": 201.700638, "volume": 542030, "typical_volume": 833428.7, "trend": 204.136549, "fair_value": 235.165956, "relative_strength": 3.882276, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": -0.684808, "energy": 10.2012, "activity_lines": [ 206.693215, 209.180431, 211.106514, 208.245135 ] }, { "date": "2023-08-25", "close": 205.694687, "volume": 324118, "typical_volume": 748190.8, "trend": 204.98593, "fair_value": 234.847498, "relative_strength": 4.732326, "stage": 1, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 6.307329, "energy": 15.734574, "activity_lines": [ 205.761262, 208.181912, 210.698111, 208.34566 ] }, { "date": "2023-09-01", "close": 197.706528, "volume": 314673, "typical_volume": 706728.9, "trend": 204.986633, "fair_value": 234.465044, "relative_strength": -0.96659, "stage": 1, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -28.025084, "energy": 39.241304, "activity_lines": [ 202.565998, 206.021478, 209.445626, 207.876021 ] }, { "date": "2023-09-08", "close": 197.706528, "volume": 1483526, "typical_volume": 749174.2, "trend": 204.854213, "fair_value": 234.140142, "relative_strength": -1.009892, "stage": 1, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -28.822882, "energy": 46.53645, "activity_lines": [ 200.43582, 204.115212, 208.202549, 207.406337 ] }, { "date": "2023-09-15", "close": 224.666534, "volume": 841283, "typical_volume": 703889.6, "trend": 205.653741, "fair_value": 233.930509, "relative_strength": 9.14957, "stage": 1, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "up", "direction": 42.894467, "energy": 17.88634, "activity_lines": [ 208.024559, 207.34678, 209.555517, 208.684551 ] }, { "date": "2023-09-22", "close": 216.678391, "volume": 447433, "typical_volume": 701184.3, "trend": 206.295158, "fair_value": 233.751201, "relative_strength": 5.739853, "stage": 2, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 37.565393, "energy": 20.026974, "activity_lines": [ 211.752361, 208.889945, 210.066772, 209.395819 ] }, { "date": "2023-09-29", "close": 206.693207, "volume": 640761, "typical_volume": 681558.35, "trend": 206.570455, "fair_value": 233.477511, "relative_strength": 2.073027, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 24.859555, "energy": 18.727143, "activity_lines": [ 211.153252, 208.563157, 209.612684, 209.4215 ] }, { "date": "2023-10-06", "close": 200.702103, "volume": 1119665, "typical_volume": 675907.8, "trend": 206.870692, "fair_value": 233.139839, "relative_strength": 0.79667, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 5.462879, "energy": 11.165169, "activity_lines": [ 208.490541, 207.237853, 208.626053, 209.042896 ] }, { "date": "2023-10-13", "close": 194.710983, "volume": 581890, "typical_volume": 667950.35, "trend": 207.021146, "fair_value": 232.757367, "relative_strength": -3.401059, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -34.808467, "energy": 28.313677, "activity_lines": [ 203.631084, 205.059266, 207.121143, 208.258399 ] }, { "date": "2023-10-20", "close": 193.712479, "volume": 500481, "typical_volume": 673187.4, "trend": 207.354638, "fair_value": 232.464413, "relative_strength": -1.226964, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -35.205312, "energy": 47.63004, "activity_lines": [ 198.638496, 202.953302, 205.618612, 207.399775 ] }, { "date": "2023-10-27", "close": 193.712479, "volume": 1627334, "typical_volume": 728543.0, "trend": 207.72141, "fair_value": 232.213024, "relative_strength": 0.298871, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -62.379267, "energy": 64.58945, "activity_lines": [ 195.709512, 201.083352, 204.211177, 206.519636 ] }, { "date": "2023-11-03", "close": 197.706528, "volume": 841353, "typical_volume": 742571.65, "trend": 208.038276, "fair_value": 232.019211, "relative_strength": 0.544422, "stage": 1, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -58.779775, "energy": 61.747716, "activity_lines": [ 195.642937, 200.084831, 203.307754, 205.873515 ] }, { "date": "2023-11-10", "close": 199.703583, "volume": 830968, "typical_volume": 756252.4, "trend": 208.038985, "fair_value": 231.803029, "relative_strength": 2.399386, "stage": 1, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -54.082707, "energy": 47.287151, "activity_lines": [ 196.84116, 199.59465, 202.708644, 205.335792 ] }, { "date": "2023-11-17", "close": 203.753448, "volume": 691904, "typical_volume": 762469.75, "trend": 208.041569, "fair_value": 231.670054, "relative_strength": 2.517148, "stage": 1, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -47.561384, "energy": 24.81277, "activity_lines": [ 199.455906, 199.804499, 202.552293, 205.059306 ] }, { "date": "2023-11-24", "close": 205.751022, "volume": 1384297, "typical_volume": 801640.65, "trend": 207.977617, "fair_value": 231.562676, "relative_strength": 3.714285, "stage": 1, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -29.549797, "energy": 14.722982, "activity_lines": [ 202.133679, 200.267599, 202.619205, 204.911529 ] }, { "date": "2023-12-01", "close": 202.754669, "volume": 568041, "typical_volume": 794130.7, "trend": 207.614104, "fair_value": 231.32736, "relative_strength": 1.55893, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -27.765536, "energy": 15.310636, "activity_lines": [ 203.010098, 200.529825, 202.429011, 204.574565 ] }, { "date": "2023-12-08", "close": 206.749817, "volume": 598178, "typical_volume": 787459.9, "trend": 207.34972, "fair_value": 231.117654, "relative_strength": 3.0768, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -18.929784, "energy": 13.170055, "activity_lines": [ 204.61542, 201.771601, 202.671347, 204.518804 ] }, { "date": "2023-12-15", "close": 198.759491, "volume": 1121929, "typical_volume": 786300.35, "trend": 206.918843, "fair_value": 230.80556, "relative_strength": -1.267833, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -30.783391, "energy": 14.509168, "activity_lines": [ 202.954415, 201.559561, 202.176204, 203.964596 ] }, { "date": "2023-12-22", "close": 201.755875, "volume": 709089, "typical_volume": 782466.25, "trend": 206.471352, "fair_value": 230.531862, "relative_strength": -1.338781, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -28.283771, "energy": 11.071241, "activity_lines": [ 202.355143, 201.927638, 202.037494, 203.631501 ] }, { "date": "2023-12-29", "close": 203.753448, "volume": 123954, "typical_volume": 764645.35, "trend": 206.140373, "fair_value": 230.277364, "relative_strength": -0.905045, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -16.41319, "energy": 6.752253, "activity_lines": [ 202.554901, 202.530822, 202.12205, 203.456152 ] }, { "date": "2024-01-05", "close": 201.755875, "volume": 380060, "typical_volume": 756546.85, "trend": 205.543104, "fair_value": 229.997269, "relative_strength": -1.50806, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -30.187571, "energy": 13.530886, "activity_lines": [ 202.221973, 202.588247, 202.03036, 203.173282 ] }, { "date": "2024-01-12", "close": 204.752243, "volume": 555781, "typical_volume": 768130.0, "trend": 204.979146, "fair_value": 229.733185, "relative_strength": 0.595116, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -23.215993, "energy": 9.166653, "activity_lines": [ 202.95442, 203.044223, 202.223775, 203.122258 ] }, { "date": "2024-01-19", "close": 196.262512, "volume": 533636, "typical_volume": 779078.15, "trend": 204.465036, "fair_value": 229.379501, "relative_strength": -1.667162, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -40.243497, "energy": 16.939191, "activity_lines": [ 200.990129, 201.828508, 201.613132, 202.559895 ] }, { "date": "2024-01-26", "close": 199.75827, "volume": 625637, "typical_volume": 736183.7, "trend": 204.100736, "fair_value": 229.077007, "relative_strength": -2.393471, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -42.7093, "energy": 21.310886, "activity_lines": [ 200.357555, 201.310949, 201.342295, 202.256233 ] }, { "date": "2024-02-02", "close": 199.75827, "volume": 479028, "typical_volume": 718070.95, "trend": 203.703151, "fair_value": 228.752128, "relative_strength": -2.227327, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -42.292952, "energy": 23.246022, "activity_lines": [ 199.858155, 200.866031, 201.061687, 201.976073 ] }, { "date": "2024-02-09", "close": 196.262512, "volume": 792048, "typical_volume": 735301.7, "trend": 203.122474, "fair_value": 228.347277, "relative_strength": -3.417109, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -51.363168, "energy": 33.739219, "activity_lines": [ 198.459848, 199.894479, 200.566761, 201.496032 ] }, { "date": "2024-02-16", "close": 200.75708, "volume": 474642, "typical_volume": 726995.75, "trend": 202.758183, "fair_value": 228.035196, "relative_strength": -3.054098, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -44.226616, "energy": 24.450657, "activity_lines": [ 198.925954, 199.858161, 200.597108, 201.343426 ] }, { "date": "2024-02-23", "close": 196.262512, "volume": 963391, "typical_volume": 719182.05, "trend": 202.177506, "fair_value": 227.7007, "relative_strength": -5.185843, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -51.533251, "energy": 28.02357, "activity_lines": [ 198.160215, 199.113607, 200.227668, 200.924351 ] }, { "date": "2024-03-01", "close": 194.764313, "volume": 484750, "typical_volume": 714325.05, "trend": 201.713308, "fair_value": 227.318224, "relative_strength": -5.643961, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -53.875422, "energy": 33.306983, "activity_lines": [ 196.895076, 198.142053, 199.736683, 200.44608 ] }, { "date": "2024-03-08", "close": 196.761902, "volume": 744980, "typical_volume": 726550.0, "trend": 201.382264, "fair_value": 226.929366, "relative_strength": -4.457291, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -47.48563, "energy": 26.388437, "activity_lines": [ 196.628731, 197.660816, 199.43569, 200.126635 ] }, { "date": "2024-03-15", "close": 191.767944, "volume": 721609, "typical_volume": 681263.75, "trend": 201.051174, "fair_value": 226.463723, "relative_strength": -7.62456, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -56.781394, "energy": 39.351782, "activity_lines": [ 194.897491, 196.398706, 198.644562, 199.506356 ] }, { "date": "2024-03-22", "close": 190.769165, "volume": 1359086, "typical_volume": 707150.4, "trend": 200.553657, "fair_value": 226.062034, "relative_strength": -10.415316, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -57.08294, "energy": 44.333114, "activity_lines": [ 193.132963, 195.136599, 197.767571, 198.843 ] }, { "date": "2024-03-29", "close": 200.75708, "volume": 1324542, "typical_volume": 731829.1, "trend": 200.655342, "fair_value": 225.756349, "relative_strength": -6.069948, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -42.309006, "energy": 21.853887, "activity_lines": [ 195.363601, 195.944714, 197.874846, 198.856125 ] }, { "date": "2024-04-05", "close": 201.755875, "volume": 963700, "typical_volume": 745418.9, "trend": 200.79032, "fair_value": 225.425087, "relative_strength": -5.18953, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -25.285813, "energy": 11.877401, "activity_lines": [ 197.627532, 196.852708, 198.072227, 198.927127 ] }, { "date": "2024-04-12", "close": 194.764313, "volume": 971393, "typical_volume": 724773.7, "trend": 199.79358, "fair_value": 225.055403, "relative_strength": -9.375891, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -33.667337, "energy": 13.495024, "activity_lines": [ 197.094839, 196.45319, 197.613258, 198.538352 ] }, { "date": "2024-04-19", "close": 196.761902, "volume": 830054, "typical_volume": 737874.35, "trend": 199.129697, "fair_value": 224.685733, "relative_strength": -7.2362, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -28.312832, "energy": 14.4024, "activity_lines": [ 197.361181, 196.507668, 197.396852, 198.34276 ] }, { "date": "2024-04-26", "close": 199.75827, "volume": 1397707, "typical_volume": 777850.8, "trend": 198.898532, "fair_value": 224.348062, "relative_strength": -8.524657, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -22.173448, "energy": 10.839947, "activity_lines": [ 198.293382, 197.097861, 197.494352, 198.383313 ] }, { "date": "2024-05-03", "close": 198.759491, "volume": 917878, "typical_volume": 767648.25, "trend": 198.833778, "fair_value": 224.023043, "relative_strength": -9.586857, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -22.17756, "energy": 8.575351, "activity_lines": [ 198.293383, 197.524618, 197.530023, 198.374343 ] }, { "date": "2024-05-10", "close": 200.75708, "volume": 705930, "typical_volume": 767490.3, "trend": 199.035315, "fair_value": 223.704432, "relative_strength": -10.81494, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 9.77814, "energy": 7.133983, "activity_lines": [ 199.092419, 198.269174, 197.755941, 198.498427 ] }, { "date": "2024-05-17", "close": 196.786392, "volume": 879693, "typical_volume": 805277.25, "trend": 199.137779, "fair_value": 223.373162, "relative_strength": -12.190755, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -16.726818, "energy": 8.827697, "activity_lines": [ 198.63448, 198.182826, 197.608455, 198.353335 ] }, { "date": "2024-05-24", "close": 194.788544, "volume": 797502, "typical_volume": 826149.35, "trend": 199.173648, "fair_value": 223.022688, "relative_strength": -11.703207, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -31.574528, "energy": 12.19646, "activity_lines": [ 197.375785, 197.732789, 197.303873, 198.072739 ] }, { "date": "2024-05-31", "close": 190.792908, "volume": 637874, "typical_volume": 830254.0, "trend": 198.943194, "fair_value": 222.633808, "relative_strength": -12.754965, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -48.802813, "energy": 29.788784, "activity_lines": [ 194.91677, 196.501352, 196.651933, 197.532046 ] }, { "date": "2024-06-07", "close": 187.796143, "volume": 737757, "typical_volume": 840460.05, "trend": 198.546279, "fair_value": 222.232115, "relative_strength": -13.417664, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -55.820151, "energy": 42.914894, "activity_lines": [ 192.056523, 194.724617, 195.781059, 196.812882 ] }, { "date": "2024-06-14", "close": 188.795059, "volume": 778101, "typical_volume": 848083.25, "trend": 198.047666, "fair_value": 221.836825, "relative_strength": -11.527621, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -55.190678, "energy": 49.003625, "activity_lines": [ 190.260138, 193.365156, 195.045636, 196.183771 ] }, { "date": "2024-06-21", "close": 183.301041, "volume": 501595, "typical_volume": 849211.6, "trend": 197.299333, "fair_value": 221.316766, "relative_strength": -14.665754, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -65.516075, "energy": 58.662373, "activity_lines": [ 187.429882, 191.242435, 193.839179, 195.232375 ] }, { "date": "2024-06-28", "close": 182.302109, "volume": 826256, "typical_volume": 850922.0, "trend": 196.617581, "fair_value": 220.847872, "relative_strength": -14.00773, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -65.39791, "energy": 60.930701, "activity_lines": [ 185.165672, 189.146512, 192.615954, 194.264813 ] }, { "date": "2024-07-05", "close": 177.806992, "volume": 1081253, "typical_volume": 881252.55, "trend": 195.65282, "fair_value": 220.228631, "relative_strength": -16.068997, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -70.532649, "energy": 65.204957, "activity_lines": [ 182.235519, 186.496201, 191.0311, 193.051226 ] }, { "date": "2024-07-12", "close": 186.297775, "volume": 1120370, "typical_volume": 889101.5, "trend": 195.23743, "fair_value": 219.702196, "relative_strength": -12.179778, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -58.279015, "energy": 52.507334, "activity_lines": [ 183.001354, 185.788782, 190.364178, 192.447675 ] }, { "date": "2024-07-19", "close": 185.798325, "volume": 1050409, "typical_volume": 917384.45, "trend": 194.705512, "fair_value": 219.089405, "relative_strength": -11.049249, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -54.894402, "energy": 38.079634, "activity_lines": [ 183.700597, 185.217132, 189.697141, 191.8387 ] }, { "date": "2024-07-26", "close": 184.799393, "volume": 626738, "typical_volume": 911472.35, "trend": 194.07371, "fair_value": 218.559762, "relative_strength": -12.556559, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -51.38265, "energy": 30.841251, "activity_lines": [ 184.266646, 184.735834, 188.977663, 191.199596 ] }, { "date": "2024-08-02", "close": 188.795059, "volume": 1217360, "typical_volume": 936259.9, "trend": 193.641682, "fair_value": 217.966181, "relative_strength": -9.145059, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -35.641509, "energy": 17.430014, "activity_lines": [ 186.064692, 185.198967, 188.695689, 190.859038 ] }, { "date": "2024-08-09", "close": 184.799393, "volume": 850350, "typical_volume": 910823.1, "trend": 192.976587, "fair_value": 217.391763, "relative_strength": -10.668559, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -35.306643, "energy": 16.961736, "activity_lines": [ 186.097987, 185.044587, 188.047331, 190.288568 ] }, { "date": "2024-08-16", "close": 182.801575, "volume": 1426291, "typical_volume": 915910.55, "trend": 192.52789, "fair_value": 216.766159, "relative_strength": -12.775085, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -38.444927, "energy": 18.784198, "activity_lines": [ 184.999182, 184.635941, 187.237133, 189.632115 ] }, { "date": "2024-08-23", "close": 182.302109, "volume": 783820, "typical_volume": 906916.55, "trend": 191.946018, "fair_value": 216.111767, "relative_strength": -12.776369, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -48.997718, "energy": 23.414739, "activity_lines": [ 183.966969, 184.227293, 186.464869, 188.972387 ] }, { "date": "2024-08-30", "close": 179.80484, "volume": 687080, "typical_volume": 892700.9, "trend": 191.280903, "fair_value": 215.486143, "relative_strength": -14.142054, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -53.953491, "energy": 29.157594, "activity_lines": [ 182.335414, 183.48265, 185.547407, 188.189086 ] }, { "date": "2024-09-06", "close": 171.314041, "volume": 990688, "typical_volume": 900732.6, "trend": 190.449287, "fair_value": 214.815685, "relative_strength": -15.889998, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -66.276075, "energy": 49.230775, "activity_lines": [ 178.206562, 181.257793, 183.892532, 186.900901 ] }, { "date": "2024-09-13", "close": 172.312943, "volume": 938511, "typical_volume": 877772.8, "trend": 189.50115, "fair_value": 214.148432, "relative_strength": -15.795978, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -63.871868, "energy": 55.747709, "activity_lines": [ 175.576079, 179.414337, 182.453972, 185.730814 ] }, { "date": "2024-09-20", "close": 173.311874, "volume": 1181296, "typical_volume": 890943.7, "trend": 188.736128, "fair_value": 213.513168, "relative_strength": -14.389043, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -60.420293, "energy": 56.88478, "activity_lines": [ 174.111004, 177.852397, 181.24124, 184.686345 ] }, { "date": "2024-09-27", "close": 176.30864, "volume": 1163487, "typical_volume": 913821.55, "trend": 188.120939, "fair_value": 212.980268, "relative_strength": -13.454581, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -57.158397, "energy": 52.225085, "activity_lines": [ 174.277496, 177.07143, 180.435093, 183.884571 ] }, { "date": "2024-10-04", "close": 180.803726, "volume": 1703339, "typical_volume": 955003.85, "trend": 187.589, "fair_value": 212.444201, "relative_strength": -10.469442, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -51.588961, "energy": 30.622802, "activity_lines": [ 176.341916, 177.280292, 180.173471, 183.412493 ] }, { "date": "2024-10-11", "close": 184.799393, "volume": 2336321, "typical_volume": 1031944.8, "trend": 187.356715, "fair_value": 211.895368, "relative_strength": -7.958104, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -31.112929, "energy": 15.476117, "activity_lines": [ 179.671632, 178.288287, 180.368497, 183.232518 ] }, { "date": "2024-10-18", "close": 188.295609, "volume": 1707925, "typical_volume": 1085447.35, "trend": 187.274263, "fair_value": 211.368947, "relative_strength": -7.123004, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -15.179265, "energy": 13.646373, "activity_lines": [ 183.26773, 180.004606, 180.944063, 183.293092 ] }, { "date": "2024-10-25", "close": 171.813507, "volume": 2136223, "typical_volume": 1155370.65, "trend": 186.309477, "fair_value": 210.692096, "relative_strength": -13.735336, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -40.054994, "energy": 19.840931, "activity_lines": [ 180.304283, 178.660612, 179.961796, 182.295624 ] }, { "date": "2024-11-01", "close": 195.787476, "volume": 3398590, "typical_volume": 1286395.1, "trend": 186.110531, "fair_value": 210.098563, "relative_strength": -0.623167, "stage": 1, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": 8.669724, "energy": 14.422226, "activity_lines": [ 185.43205, 181.875305, 181.338873, 182.907108 ] }, { "date": "2024-11-08", "close": 199.783127, "volume": 1617487, "typical_volume": 1342189.7, "trend": 186.277825, "fair_value": 209.581815, "relative_strength": 2.917135, "stage": 1, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "mixed", "direction": 32.296619, "energy": 37.044639, "activity_lines": [ 190.593111, 185.57129, 183.063191, 183.789211 ] }, { "date": "2024-11-15", "close": 197.843781, "volume": 2122754, "typical_volume": 1407014.6, "trend": 186.313887, "fair_value": 209.039842, "relative_strength": 2.243222, "stage": 1, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 27.659713, "energy": 44.860493, "activity_lines": [ 193.842431, 188.551426, 184.524323, 184.535402 ] }, { "date": "2024-11-22", "close": 189.350479, "volume": 2358939, "typical_volume": 1470898.9, "trend": 185.966961, "fair_value": 208.494246, "relative_strength": -4.146806, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 28.379097, "energy": 44.56118, "activity_lines": [ 193.391024, 189.504967, 185.102561, 184.731311 ] }, { "date": "2024-11-29", "close": 179.857986, "volume": 801338, "typical_volume": 1454947.3, "trend": 185.336911, "fair_value": 207.913392, "relative_strength": -8.845845, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 12.2569, "energy": 19.233511, "activity_lines": [ 189.705128, 188.422826, 184.721783, 184.337183 ] }, { "date": "2024-12-06", "close": 194.346542, "volume": 866465, "typical_volume": 1445750.1, "trend": 185.123226, "fair_value": 207.335845, "relative_strength": -1.438793, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 27.941033, "energy": 17.528769, "activity_lines": [ 190.312452, 189.855947, 185.751533, 184.91845 ] }, { "date": "2024-12-13", "close": 183.355225, "volume": 979578, "typical_volume": 1463392.1, "trend": 184.67552, "fair_value": 206.732625, "relative_strength": -6.606367, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "up", "direction": 28.307597, "energy": 14.830979, "activity_lines": [ 187.352066, 188.962686, 185.693786, 184.804385 ] }, { "date": "2024-12-20", "close": 176.360748, "volume": 992163, "typical_volume": 1452132.25, "trend": 184.061261, "fair_value": 206.08137, "relative_strength": -7.441519, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -6.027408, "energy": 11.16681, "activity_lines": [ 183.155381, 186.751311, 184.976775, 184.267948 ] }, { "date": "2024-12-27", "close": 171.364685, "volume": 279478, "typical_volume": 1423588.65, "trend": 183.413653, "fair_value": 205.343708, "relative_strength": -10.394036, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -22.442383, "energy": 19.452612, "activity_lines": [ 178.725544, 183.78499, 183.843159, 183.448814 ] }, { "date": "2025-01-03", "close": 176.860336, "volume": 599341, "typical_volume": 1382241.15, "trend": 183.049126, "fair_value": 204.686058, "relative_strength": -7.997979, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -25.045545, "energy": 25.216485, "activity_lines": [ 177.326644, 182.125714, 183.296913, 183.02602 ] }, { "date": "2025-01-10", "close": 174.861923, "volume": 842199, "typical_volume": 1385160.1, "trend": 182.584688, "fair_value": 203.900439, "relative_strength": -8.883899, "stage": 4, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -27.137312, "energy": 35.094642, "activity_lines": [ 175.461449, 180.011329, 182.588634, 182.497813 ] }, { "date": "2025-01-17", "close": 175.861145, "volume": 1146377, "typical_volume": 1408124.95, "trend": 182.336692, "fair_value": 203.044452, "relative_strength": -10.713843, "stage": 4, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -53.787616, "energy": 42.548445, "activity_lines": [ 175.228303, 178.459086, 182.010949, 182.064036 ] }, { "date": "2025-01-24", "close": 176.860336, "volume": 1530791, "typical_volume": 1435130.1, "trend": 182.155299, "fair_value": 202.31003, "relative_strength": -9.775239, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -50.702746, "energy": 31.706043, "activity_lines": [ 175.827826, 177.523459, 181.547203, 181.710723 ] }, { "date": "2025-01-31", "close": 171.864304, "volume": 879134, "typical_volume": 1432161.25, "trend": 181.95721, "fair_value": 201.665139, "relative_strength": -13.595995, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -56.574624, "energy": 33.555021, "activity_lines": [ 174.728699, 176.060979, 180.581235, 181.046788 ] }, { "date": "2025-02-07", "close": 168.367065, "volume": 1332653, "typical_volume": 1439729.1, "trend": 181.359519, "fair_value": 201.023421, "relative_strength": -15.144784, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -60.338301, "energy": 38.254909, "activity_lines": [ 172.430517, 174.280569, 179.284332, 180.170004 ] }, { "date": "2025-02-14", "close": 166.368637, "volume": 1112075, "typical_volume": 1437158.5, "trend": 180.711863, "fair_value": 200.420074, "relative_strength": -15.964519, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -62.039451, "energy": 48.277894, "activity_lines": [ 170.032412, 172.345734, 177.82065, 179.20285 ] }, { "date": "2025-02-21", "close": 160.373367, "volume": 1231246, "typical_volume": 1413553.85, "trend": 179.897662, "fair_value": 199.842273, "relative_strength": -17.824702, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -69.343101, "energy": 63.206021, "activity_lines": [ 166.202101, 169.829538, 175.833323, 177.890689 ] }, { "date": "2025-02-28", "close": 156.376526, "volume": 2208450, "typical_volume": 1407160.3, "trend": 178.817045, "fair_value": 199.238852, "relative_strength": -20.725541, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -72.394244, "energy": 70.142736, "activity_lines": [ 162.07203, 167.004497, 173.562632, 176.373197 ] }, { "date": "2025-03-07", "close": 150.381256, "volume": 1875610, "typical_volume": 1415544.55, "trend": 177.669773, "fair_value": 198.590602, "relative_strength": -22.065037, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -78.343752, "energy": 78.110855, "activity_lines": [ 157.309122, 163.452756, 170.856309, 174.53863 ] }, { "date": "2025-03-14", "close": 148.382828, "volume": 1672593, "typical_volume": 1392363.05, "trend": 176.522482, "fair_value": 197.897553, "relative_strength": -22.163097, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -77.035811, "energy": 82.391506, "activity_lines": [ 153.312274, 159.919181, 168.140205, 172.649149 ] }, { "date": "2025-03-21", "close": 150.880859, "volume": 2008350, "typical_volume": 1322851.05, "trend": 175.475107, "fair_value": 197.265301, "relative_strength": -20.528364, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -68.257445, "energy": 78.983562, "activity_lines": [ 151.480386, 157.357566, 165.773583, 170.994851 ] }, { "date": "2025-03-28", "close": 146.884018, "volume": 2048954, "typical_volume": 1344424.4, "trend": 174.377746, "fair_value": 196.709792, "relative_strength": -22.177257, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -72.317552, "energy": 79.498469, "activity_lines": [ 149.348737, 154.505273, 163.240151, 169.150265 ] }, { "date": "2025-04-04", "close": 133.894272, "volume": 2662083, "typical_volume": 1371390.85, "trend": 173.13042, "fair_value": 196.032629, "relative_strength": -23.138822, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -84.94246, "energy": 83.40661, "activity_lines": [ 143.786461, 149.818064, 159.7215, 166.538428 ] }, { "date": "2025-04-11", "close": 138.890335, "volume": 3035372, "typical_volume": 1405212.5, "trend": 172.016334, "fair_value": 195.323515, "relative_strength": -18.862632, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -71.487827, "energy": 66.843477, "activity_lines": [ 141.388358, 146.820432, 156.983187, 164.32939 ] }, { "date": "2025-04-18", "close": 146.384415, "volume": 1609301, "typical_volume": 1445610.65, "trend": 171.118752, "fair_value": 194.713621, "relative_strength": -17.167635, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -64.347312, "energy": 55.442596, "activity_lines": [ 142.254342, 145.784886, 155.198882, 162.675718 ] }, { "date": "2025-04-25", "close": 148.882462, "volume": 1123807, "typical_volume": 1458477.75, "trend": 170.204546, "fair_value": 194.081355, "relative_strength": -16.637468, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -61.160922, "energy": 49.591883, "activity_lines": [ 144.086236, 145.603215, 153.811884, 161.241118 ] }, { "date": "2025-05-02", "close": 158.874557, "volume": 1664975, "typical_volume": 1492747.6, "trend": 169.473573, "fair_value": 193.679348, "relative_strength": -12.463221, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -43.673914, "energy": 30.026264, "activity_lines": [ 149.382055, 147.55622, 153.593009, 160.510151 ] }, { "date": "2025-05-09", "close": 165.897095, "volume": 1477692, "typical_volume": 1517024.05, "trend": 168.843497, "fair_value": 193.296764, "relative_strength": -7.778873, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -19.766283, "energy": 20.410209, "activity_lines": [ 156.21935, 150.8133, 154.159523, 160.279411 ] }, { "date": "2025-05-16", "close": 168.395554, "volume": 1032694, "typical_volume": 1554684.85, "trend": 168.180162, "fair_value": 192.9174, "relative_strength": -7.452201, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -6.658737, "energy": 20.95993, "activity_lines": [ 161.755944, 154.351544, 155.013812, 160.250511 ] }, { "date": "2025-05-23", "close": 162.399261, "volume": 1212740, "typical_volume": 1585354.8, "trend": 167.866353, "fair_value": 192.499597, "relative_strength": -10.696926, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -4.476318, "energy": 23.004586, "activity_lines": [ 163.326759, 156.472021, 155.311164, 159.87755 ] }, { "date": "2025-05-30", "close": 157.902069, "volume": 1006715, "typical_volume": 1593580.6, "trend": 166.603506, "fair_value": 192.027373, "relative_strength": -13.304309, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -5.22019, "energy": 19.941965, "activity_lines": [ 162.330853, 157.519982, 155.249074, 159.234693 ] }, { "date": "2025-06-06", "close": 160.400513, "volume": 1436087, "typical_volume": 1608066.1, "trend": 165.290753, "fair_value": 191.583961, "relative_strength": -12.209012, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -6.843573, "energy": 15.175567, "activity_lines": [ 161.566455, 158.894547, 155.505693, 158.8345 ] }, { "date": "2025-06-13", "close": 159.401138, "volume": 1266067, "typical_volume": 1594829.9, "trend": 164.009331, "fair_value": 191.22372, "relative_strength": -12.460691, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -9.960434, "energy": 8.872441, "activity_lines": [ 160.367202, 159.841654, 155.740755, 158.454525 ] }, { "date": "2025-06-20", "close": 156.902679, "volume": 1745499, "typical_volume": 1638148.15, "trend": 162.927738, "fair_value": 190.917846, "relative_strength": -12.730968, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -22.803411, "energy": 12.677632, "activity_lines": [ 158.768192, 159.870734, 155.821007, 157.996031 ] }, { "date": "2025-06-27", "close": 156.902679, "volume": 1561884, "typical_volume": 1649609.7, "trend": 162.162561, "fair_value": 190.639164, "relative_strength": -12.602059, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -25.076499, "energy": 13.432012, "activity_lines": [ 157.935375, 159.572316, 155.972506, 157.607318 ] }, { "date": "2025-07-04", "close": 158.901428, "volume": 1034467, "typical_volume": 1645729.3, "trend": 160.981057, "fair_value": 190.378093, "relative_strength": -11.423644, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -25.101169, "energy": 13.492135, "activity_lines": [ 158.135245, 159.446067, 156.368954, 157.396922 ] }, { "date": "2025-07-11", "close": 156.902679, "volume": 962541, "typical_volume": 1632294.05, "trend": 160.099306, "fair_value": 190.021031, "relative_strength": -13.281885, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -26.254132, "energy": 13.90303, "activity_lines": [ 157.602243, 158.774245, 156.610602, 157.133801 ] }, { "date": "2025-07-18", "close": 156.402985, "volume": 769224, "typical_volume": 1560332.75, "trend": 159.434047, "fair_value": 189.667165, "relative_strength": -13.605963, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -29.240363, "energy": 13.725988, "activity_lines": [ 157.135864, 158.047422, 156.821188, 156.895328 ] }, { "date": "2025-07-25", "close": 159.401138, "volume": 914442, "typical_volume": 1512274.35, "trend": 159.035262, "fair_value": 189.326119, "relative_strength": -12.785498, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -13.864105, "energy": 6.466228, "activity_lines": [ 157.868747, 158.038339, 157.317187, 156.893205 ] }, { "date": "2025-08-01", "close": 148.407959, "volume": 1597961, "typical_volume": 1508542.75, "trend": 158.086849, "fair_value": 188.952994, "relative_strength": -17.806539, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -45.024307, "energy": 22.202016, "activity_lines": [ 154.770673, 156.19403, 156.723264, 156.207573 ] }, { "date": "2025-08-08", "close": 146.90889, "volume": 1133387, "typical_volume": 1464794.6, "trend": 157.155082, "fair_value": 188.576658, "relative_strength": -18.368829, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -48.488662, "energy": 36.821178, "activity_lines": [ 151.739223, 154.331551, 155.986453, 155.486414 ] }, { "date": "2025-08-15", "close": 142.411667, "volume": 925121, "typical_volume": 1408602.95, "trend": 156.040099, "fair_value": 188.165095, "relative_strength": -20.747979, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -55.871575, "energy": 53.533273, "activity_lines": [ 148.008202, 151.85127, 154.840249, 154.535226 ] }, { "date": "2025-08-22", "close": 143.910736, "volume": 1144913, "typical_volume": 1332744.45, "trend": 154.941779, "fair_value": 187.820727, "relative_strength": -20.983102, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -52.502569, "energy": 58.379634, "activity_lines": [ 145.742938, 149.970618, 153.858111, 153.752687 ] }, { "date": "2025-08-29", "close": 140.912598, "volume": 1282710, "typical_volume": 1245111.35, "trend": 153.910055, "fair_value": 187.444344, "relative_strength": -21.023665, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -64.32584, "energy": 64.984197, "activity_lines": [ 143.311112, 147.826493, 152.542738, 152.847578 ] }, { "date": "2025-09-05", "close": 141.412292, "volume": 1322414, "typical_volume": 1230767.0, "trend": 153.011563, "fair_value": 187.013578, "relative_strength": -20.483981, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -63.804363, "energy": 62.848684, "activity_lines": [ 142.278419, 146.063951, 151.265326, 152.041271 ] }, { "date": "2025-09-12", "close": 144.410431, "volume": 1293547, "typical_volume": 1239254.0, "trend": 152.279623, "fair_value": 186.550844, "relative_strength": -19.029971, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -58.700939, "energy": 49.832613, "activity_lines": [ 142.711484, 145.128168, 150.297127, 151.486359 ] }, { "date": "2025-09-19", "close": 146.40918, "volume": 1534172, "typical_volume": 1232713.85, "trend": 151.81415, "fair_value": 186.164907, "relative_strength": -16.8857, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -54.571198, "energy": 34.530433, "activity_lines": [ 143.977362, 144.819266, 149.54058, 151.107621 ] }, { "date": "2025-09-26", "close": 148.907639, "volume": 1660278, "typical_volume": 1241843.15, "trend": 151.565187, "fair_value": 185.798184, "relative_strength": -15.650185, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -39.608803, "energy": 22.258603, "activity_lines": [ 145.809559, 145.155421, 149.081341, 150.920104 ] }, { "date": "2025-10-03", "close": 145.409805, "volume": 1841053, "typical_volume": 1282261.1, "trend": 151.399472, "fair_value": 185.418637, "relative_strength": -18.88921, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -36.040921, "energy": 18.032124, "activity_lines": [ 146.142685, 144.991885, 148.369878, 150.522983 ] }, { "date": "2025-10-10", "close": 141.412292, "volume": 1979120, "typical_volume": 1320580.1, "trend": 151.167121, "fair_value": 185.096643, "relative_strength": -19.983192, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -42.738601, "energy": 21.273364, "activity_lines": [ 144.843493, 144.355916, 147.387154, 149.878648 ] }, { "date": "2025-10-17", "close": 142.411667, "volume": 2361350, "typical_volume": 1388311.85, "trend": 150.884814, "fair_value": 184.774657, "relative_strength": -18.176613, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -49.493719, "energy": 25.227007, "activity_lines": [ 143.877425, 144.028846, 146.599547, 149.31378 ] }, { "date": "2025-10-24", "close": 142.411667, "volume": 2642266, "typical_volume": 1448620.8, "trend": 150.735736, "fair_value": 184.471866, "relative_strength": -20.144603, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -50.284368, "energy": 28.355782, "activity_lines": [ 143.044609, 143.783544, 145.885704, 148.767126 ] }, { "date": "2025-10-31", "close": 139.413528, "volume": 1925164, "typical_volume": 1481575.65, "trend": 150.919711, "fair_value": 184.162653, "relative_strength": -21.620264, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -57.569742, "energy": 41.537602, "activity_lines": [ 141.478913, 142.993125, 144.971985, 148.036661 ] }, { "date": "2025-11-07", "close": 139.913223, "volume": 2710466, "typical_volume": 1529824.0, "trend": 150.953808, "fair_value": 183.75427, "relative_strength": -20.193913, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -55.564947, "energy": 40.866861, "activity_lines": [ 140.712724, 142.375328, 144.201035, 147.326565 ] }, { "date": "2025-11-14", "close": 133.973022, "volume": 3145717, "typical_volume": 1609015.65, "trend": 150.540094, "fair_value": 183.301057, "relative_strength": -22.827905, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -66.91847, "energy": 52.038365, "activity_lines": [ 138.332906, 140.695664, 142.945254, 146.23103 ] }, { "date": "2025-11-21", "close": 133.973022, "volume": 2720867, "typical_volume": 1693335.65, "trend": 150.043113, "fair_value": 182.860643, "relative_strength": -20.788899, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -64.594535, "energy": 55.568217, "activity_lines": [ 136.449039, 139.15126, 141.798662, 145.162187 ] }, { "date": "2025-11-28", "close": 140.471725, "volume": 2903381, "typical_volume": 1790377.65, "trend": 149.429685, "fair_value": 182.513089, "relative_strength": -17.845128, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -55.544151, "energy": 39.491309, "activity_lines": [ 137.293984, 138.978209, 141.3897, 144.544678 ] }, { "date": "2025-12-05", "close": 138.472122, "volume": 1798503, "typical_volume": 1841841.6, "trend": 148.51552, "fair_value": 182.178316, "relative_strength": -17.751106, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -53.110234, "energy": 33.952244, "activity_lines": [ 137.601723, 138.549547, 140.868543, 143.837738 ] }, { "date": "2025-12-12", "close": 134.972824, "volume": 2230441, "typical_volume": 1907641.55, "trend": 147.401429, "fair_value": 181.859513, "relative_strength": -18.954989, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -56.66026, "energy": 33.169262, "activity_lines": [ 136.80579, 137.674387, 140.099504, 142.964016 ] }, { "date": "2025-12-19", "close": 137.972229, "volume": 1817890, "typical_volume": 1918638.0, "trend": 146.587194, "fair_value": 181.476736, "relative_strength": -18.518351, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -48.252625, "energy": 25.679592, "activity_lines": [ 137.339019, 137.534336, 139.732448, 142.35568 ] }, { "date": "2025-12-26", "close": 137.972229, "volume": 647589, "typical_volume": 1894348.1, "trend": 145.922866, "fair_value": 181.15796, "relative_strength": -17.645422, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -38.173231, "energy": 22.943358, "activity_lines": [ 137.605633, 137.456832, 139.415087, 141.799876 ] }, { "date": "2026-01-02", "close": 136.972427, "volume": 818814, "typical_volume": 1889032.75, "trend": 145.14193, "fair_value": 180.871175, "relative_strength": -18.18519, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -48.14526, "energy": 26.633702, "activity_lines": [ 137.272367, 137.278262, 139.045061, 141.222429 ] }, { "date": "2026-01-09", "close": 138.472122, "volume": 1772466, "typical_volume": 1920410.4, "trend": 144.444296, "fair_value": 180.552402, "relative_strength": -18.001712, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -36.029411, "energy": 19.14225, "activity_lines": [ 137.672286, 137.47126, 138.843765, 140.792118 ] }, { "date": "2026-01-16", "close": 137.972229, "volume": 1327958, "typical_volume": 1922672.8, "trend": 143.813281, "fair_value": 180.265626, "relative_strength": -18.505161, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -35.069428, "energy": 18.158809, "activity_lines": [ 137.905573, 137.590484, 138.620758, 140.374566 ] }, { "date": "2026-01-23", "close": 136.472519, "volume": 2189903, "typical_volume": 1966047.25, "trend": 143.132276, "fair_value": 179.985237, "relative_strength": -17.959907, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -47.418513, "energy": 22.896773, "activity_lines": [ 137.438997, 137.472325, 138.268923, 139.900968 ] }, { "date": "2026-01-30", "close": 137.472321, "volume": 3084283, "typical_volume": 2055584.05, "trend": 142.417972, "fair_value": 179.599255, "relative_strength": -17.389575, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -43.110331, "energy": 20.115878, "activity_lines": [ 137.405669, 137.490502, 138.03583, 139.53581 ] }, { "date": "2026-02-06", "close": 139.471924, "volume": 2327141, "typical_volume": 2095232.5, "trend": 141.836947, "fair_value": 179.200491, "relative_strength": -16.790231, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -30.469094, "energy": 14.034556, "activity_lines": [ 138.072203, 137.80862, 138.026215, 139.345742 ] }, { "date": "2026-02-13", "close": 139.971817, "volume": 1551413, "typical_volume": 2089789.25, "trend": 141.289241, "fair_value": 178.811332, "relative_strength": -16.54307, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -14.637012, "energy": 6.755388, "activity_lines": [ 138.738734, 138.235806, 138.097242, 139.225411 ] }, { "date": "2026-02-20", "close": 134.972824, "volume": 1759201, "typical_volume": 2085696.65, "trend": 140.474964, "fair_value": 178.410928, "relative_strength": -20.775759, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -47.029978, "energy": 19.188434, "activity_lines": [ 137.638955, 137.726817, 137.734727, 138.8179 ] }, { "date": "2026-02-27", "close": 129.973831, "volume": 2270513, "typical_volume": 2100266.3, "trend": 139.860493, "fair_value": 177.972079, "relative_strength": -24.744184, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -60.445543, "energy": 36.861755, "activity_lines": [ 135.072805, 136.30892, 136.945817, 138.140408 ] }, { "date": "2026-03-06", "close": 128.97403, "volume": 3111170, "typical_volume": 2137757.3, "trend": 139.262665, "fair_value": 177.570021, "relative_strength": -20.315993, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -62.418348, "energy": 55.941009, "activity_lines": [ 132.606634, 134.854667, 136.116156, 137.438055 ] }, { "date": "2026-03-13", "close": 122.475342, "volume": 2930386, "typical_volume": 2152163.3, "trend": 138.598121, "fair_value": 177.135905, "relative_strength": -23.667018, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -76.081691, "energy": 74.525457, "activity_lines": [ 128.540786, 132.382437, 134.731562, 136.355002 ] }, { "date": "2026-03-20", "close": 116.976448, "volume": 4498600, "typical_volume": 2280835.1, "trend": 137.700311, "fair_value": 176.708141, "relative_strength": -24.045391, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -82.813802, "energy": 83.786808, "activity_lines": [ 123.775079, 129.173992, 132.918199, 134.960056 ] }, { "date": "2026-03-27", "close": 119.475945, "volume": 3952783, "typical_volume": 2342950.95, "trend": 136.985756, "fair_value": 176.302799, "relative_strength": -22.325838, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -73.074863, "energy": 81.687072, "activity_lines": [ 121.375562, 126.810832, 131.449726, 133.78429 ] }, { "date": "2026-04-03", "close": 121.47554, "volume": 3416457, "typical_volume": 2356487.95, "trend": 136.321197, "fair_value": 175.875074, "relative_strength": -24.102862, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -65.149466, "energy": 76.116349, "activity_lines": [ 120.675703, 125.14753, 130.269011, 132.783631 ] }, { "date": "2026-04-10", "close": 138.372131, "volume": 4395924, "typical_volume": 2440240.8, "trend": 136.119921, "fair_value": 175.48206, "relative_strength": -14.414439, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -41.089191, "energy": 33.171709, "activity_lines": [ 126.174593, 126.829008, 130.757007, 132.915949 ] }, { "date": "2026-04-17", "close": 143.571106, "volume": 4486570, "typical_volume": 2519400.25, "trend": 136.025318, "fair_value": 175.096773, "relative_strength": -11.284194, "stage": 1, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -7.323959, "energy": 11.558284, "activity_lines": [ 132.779934, 129.439394, 131.719195, 133.396671 ] }, { "date": "2026-04-24", "close": 138.17218, "volume": 3175747, "typical_volume": 2588262.45, "trend": 135.66747, "fair_value": 174.651277, "relative_strength": -11.757201, "stage": 1, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "mixed", "direction": 5.30297, "energy": 20.322743, "activity_lines": [ 136.179249, 130.993626, 132.152441, 133.535178 ] }, { "date": "2026-05-01", "close": 138.17218, "volume": 1834188, "typical_volume": 2568449.8, "trend": 135.426216, "fair_value": 174.16738, "relative_strength": -11.04387, "stage": 4, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 7.731466, "energy": 25.781399, "activity_lines": [ 138.165516, 132.580579, 132.587115, 133.696772 ] }, { "date": "2026-05-08", "close": 136.199997, "volume": 2029928, "typical_volume": 2579051.7, "trend": 135.252472, "fair_value": 173.664295, "relative_strength": -10.494183, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 17.568809, "energy": 26.339929, "activity_lines": [ 138.247973, 133.750784, 132.818727, 133.746694 ] }, { "date": "2026-05-15", "close": 131.800003, "volume": 3221378, "typical_volume": 2707741.15, "trend": 134.89875, "fair_value": 173.152206, "relative_strength": -12.332723, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 8.434515, "energy": 12.39702, "activity_lines": [ 135.882134, 134.007786, 132.639732, 133.523954 ] }, { "date": "2026-05-22", "close": 133.0, "volume": 3177131, "typical_volume": 2825657.0, "trend": 134.585028, "fair_value": 172.625408, "relative_strength": -13.153731, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -21.022944, "energy": 10.547235, "activity_lines": [ 134.354436, 134.431588, 132.604413, 133.401454 ] }, { "date": "2026-05-29", "close": 130.0, "volume": 1449881, "typical_volume": 2809527.75, "trend": 134.271244, "fair_value": 172.088979, "relative_strength": -14.025115, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -33.558922, "energy": 17.407702, "activity_lines": [ 132.531479, 134.118579, 132.302296, 133.105646 ] }, { "date": "2026-06-05", "close": 122.6, "volume": 593850, "typical_volume": 2772822.35, "trend": 133.694136, "fair_value": 171.46671, "relative_strength": -17.909552, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -51.374766, "energy": 31.496776, "activity_lines": [ 128.786667, 132.223323, 131.335761, 132.352662 ] }, { "date": "2026-06-12", "close": 128.8, "volume": 406702, "typical_volume": 2683662.3, "trend": 133.521702, "fair_value": 170.871384, "relative_strength": -13.955408, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -39.161651, "energy": 30.922979, "activity_lines": [ 128.146667, 131.398538, 131.032903, 132.036911 ] }, { "date": "2026-06-19", "close": 124.6, "volume": 178742, "typical_volume": 2538385.25, "trend": 133.209268, "fair_value": 170.313141, "relative_strength": -15.222407, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -57.964956, "energy": 50.326196, "activity_lines": [ 126.6, 129.676946, 130.366581, 131.461318 ] }, { "date": "2026-06-26", "close": 126.4, "volume": 400899, "typical_volume": 2442073.15, "trend": 132.740211, "fair_value": 169.772838, "relative_strength": -14.509254, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -52.358236, "energy": 49.574182, "activity_lines": [ 126.133333, 128.533028, 129.932985, 131.02201 ] }, { "date": "2026-07-03", "close": 129.0, "volume": 465650, "typical_volume": 2387785.0, "trend": 132.424473, "fair_value": 169.242801, "relative_strength": -13.4463, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -49.595699, "energy": 33.802436, "activity_lines": [ 126.973333, 128.17404, 129.809254, 130.780706 ] }, { "date": "2026-07-10", "close": 124.6, "volume": 1935687, "typical_volume": 2396609.3, "trend": 132.078712, "fair_value": 168.671757, "relative_strength": -14.2807, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -56.827448, "energy": 37.997746, "activity_lines": [ 126.413333, 127.181818, 129.318723, 130.275901 ] }, { "date": "2026-07-17", "close": 128.6, "volume": 3224530, "typical_volume": 2444310.15, "trend": 131.766305, "fair_value": 168.139156, "relative_strength": -11.744433, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -46.91918, "energy": 24.826573, "activity_lines": [ 127.053333, 127.163636, 129.258539, 130.051468 ] }, { "date": "2026-07-24", "close": 118.6, "volume": 6159116, "typical_volume": 2596707.45, "trend": 131.120564, "fair_value": 167.52965, "relative_strength": -18.907169, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -68.473772, "energy": 41.031259, "activity_lines": [ 124.373333, 125.465455, 128.252515, 129.202029 ] }, { "date": "2026-07-31", "close": 120.0, "volume": 4950442, "typical_volume": 2697710.25, "trend": 130.554816, "fair_value": 166.961123, "relative_strength": -18.331949, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -63.234643, "energy": 53.547345, "activity_lines": [ 122.56, 124.261818, 127.429226, 128.484574 ] }, { "date": "2026-08-07", "close": 128.6, "volume": 7041149, "typical_volume": 2824837.7, "trend": 130.225746, "fair_value": 166.460526, "relative_strength": -12.200201, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -49.433471, "energy": 33.71058, "activity_lines": [ 124.04, 124.858182, 127.436771, 128.358456 ] } ], "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." } } }