{ "ticker": { "uuid": "fd4e4182-d99a-4de2-b300-a6cb988598d8", "symbol": "9942", "name": "NAK Sealing Technologies Corporation", "exchange": "TAI", "country": "TW", "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": "2026-08-14", "benchmark": "^TWII", "stage": 3, "stage_name": "Distribution", "phase": "3a", "phase_label": "Stage 3A \u00b7 Churning", "transition": "stage_3_churning", "transition_label": "Stage 3 range intact", "confidence": 80.219, "architecture_regime": "upward_expansion", "architecture_regime_label": "Upward Expansion", "architecture_modifier": "Re-accelerating", "architecture_gate": "up", "architecture_direction": 60.077, "architecture_energy": 59.104, "architecture_maturity": 13.263, "architecture_confidence": 70.244, "architecture_tenure": "Developing", "architecture": { "interpretation": { "headline": "The weekly architecture is expanding upward.", "body": "Trend and Activity show sustained positive alignment with constructive price acceptance. Directional energy remains positive; cooling within this regime can indicate that it is maturing." }, "scores": { "balance": 15.19, "rotation_up": 63.96, "upward_expansion": 85.05, "deceleration": 48.39, "rotation_down": 14.43, "downward_expansion": 11.71 }, "activity_lines": [ 115.590555, 114.65962, 113.391329, 112.429139 ], "activity_state": "Wide", "activity_direction": "Expanding", "rotation_direction": "Improving", "price_acceptance": 0.666667 }, "latest_close": 115.5, "trend_reference": 110.973333, "distance_from_trend": 0.040791, "trend_direction": "Improving", "fair_value": 106.475455, "distance_from_fair_value": 0.084757, "fair_value_direction": "Improving", "relative_strength": -22.554603, "relative_strength_direction": "Improving", "price_momentum": 0.100044, "excess_performance": -0.341328, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.040791, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.045832, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.084757, "read": "Premium" }, { "label": "Fair Value direction", "positive": true, "value": 0.060727, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.225546, "read": "Lagging" }, { "label": "Relative strength direction", "positive": true, "value": 0.066818, "read": "Improving" }, { "label": "Price momentum", "positive": true, "value": 0.100044, "read": "Positive" }, { "label": "Volume balance", "positive": true, "value": 1.194885, "read": "Demand-led" } ], "volume": { "latest": 711353, "relative_activity": 1.591673, "balance": 1.194885, "dry_up": 1.461588, "accumulation_observations": 3, "distribution_observations": 3 }, "risk": { "range_context": 0.025142, "annualized_volatility": 0.140303, "from_high_reference": -0.0375, "from_low_reference": 0.202499 }, "levels": { "trend_reference": 110.973333, "fair_value_reference": 106.475455, "structural_low": 104.995834, "invalidation": "A decisive breakout above range resistance with renewed RS leadership invalidates the distribution reading; a range-low break confirms deterioration." }, "outcomes": [ { "horizon": "Near term", "sample_count": 19, "median_return": -0.004545, "positive_rate": 0.421053, "directional_follow_through": 0.421053, "median_excess_return": -0.021501, "regime_survival": 0.736842, "best_return": 0.227074, "worst_return": -0.0721, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 8, "median_return": -0.020579, "positive_rate": 0.5, "directional_follow_through": 0.5, "median_excess_return": -0.035115, "regime_survival": 0.5, "best_return": 0.31441, "worst_return": -0.095457, "sufficient": true }, { "horizon": "Extended", "sample_count": 4, "median_return": 0.061379, "positive_rate": 0.5, "directional_follow_through": 0.5, "median_excess_return": 0.01737, "regime_survival": 0.25, "best_return": 0.18894, "worst_return": -0.033864, "sufficient": false }, { "horizon": "Full cycle", "sample_count": 3, "median_return": 0.019318, "positive_rate": 0.666667, "directional_follow_through": 0.666667, "median_excess_return": 0.057821, "regime_survival": 0.333333, "best_return": 0.366804, "worst_return": -0.106798, "sufficient": false } ], "ledger": [ { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-02-21", "end": "2025-03-14", "tenure": "New", "return": 0.056522, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-03-21", "end": "2025-04-04", "tenure": "New", "return": -0.029167, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2025-04-11", "end": "2025-04-25", "tenure": "New", "return": 0.079439, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-05-02", "end": "2025-08-01", "tenure": "Established", "return": 0.022375, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-08-08", "end": "2025-09-05", "tenure": "Developing", "return": -0.017857, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-09-12", "end": "2025-10-17", "tenure": "Developing", "return": -0.036866, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2025-10-24", "end": "2025-11-07", "tenure": "New", "return": -0.023148, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-11-14", "end": "2026-01-23", "tenure": "Developing", "return": 0.061321, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2026-01-30", "end": "2026-02-27", "tenure": "New", "return": 0.048458, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-03-06", "end": "2026-04-03", "tenure": "Developing", "return": -0.029536, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2026-04-10", "end": "2026-04-24", "tenure": "New", "return": -0.004274, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-05-01", "end": "2026-06-26", "tenure": "Developing", "return": 0.0, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2026-07-03", "end": "2026-07-10", "tenure": "New", "return": 0.004184, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-07-17", "end": "2026-08-14", "tenure": "Developing", "return": -0.002806, "active": true } ], "chart_path": [ { "date": "2023-08-11", "close": 116.641914, "volume": 3508513, "typical_volume": 4277527.55, "trend": 109.167952, "fair_value": 74.340153, "relative_strength": 9.822169, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 13.329484, "energy": 14.701264, "activity_lines": [ 116.417028, 117.853436, 119.240894, 115.571095 ] }, { "date": "2023-08-18", "close": 118.314201, "volume": 3480500, "typical_volume": 4342249.75, "trend": 110.335849, "fair_value": 74.800478, "relative_strength": 12.021532, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 14.07844, "energy": 11.468207, "activity_lines": [ 116.786621, 117.650321, 119.30054, 116.161176 ] }, { "date": "2023-08-25", "close": 120.404556, "volume": 2741410, "typical_volume": 4319825.15, "trend": 111.546604, "fair_value": 75.276065, "relative_strength": 12.520232, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 30.178588, "energy": 14.31612, "activity_lines": [ 118.091961, 118.009476, 119.459475, 116.81077 ] }, { "date": "2023-09-01", "close": 122.494911, "volume": 1492529, "typical_volume": 3648553.65, "trend": 112.599065, "fair_value": 75.763656, "relative_strength": 12.562856, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 41.663751, "energy": 23.703981, "activity_lines": [ 119.791385, 118.761232, 119.763303, 117.517112 ] }, { "date": "2023-09-08", "close": 121.65876, "volume": 1822500, "typical_volume": 3530384.3, "trend": 113.556603, "fair_value": 76.243557, "relative_strength": 11.676722, "stage": 2, "regime": "deceleration", "modifier": "Re-acceleration watch", "gate": "up", "direction": 39.50211, "energy": 26.473991, "activity_lines": [ 120.850495, 119.30623, 119.942512, 118.101609 ] }, { "date": "2023-09-15", "close": 109.534698, "volume": 4432758, "typical_volume": 3594350.35, "trend": 114.029545, "fair_value": 76.645274, "relative_strength": -1.783135, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": -1.388084, "energy": 4.20039, "activity_lines": [ 117.394438, 117.621957, 118.908802, 117.842131 ] }, { "date": "2023-09-22", "close": 111.625061, "volume": 2580862, "typical_volume": 3372233.05, "trend": 114.545344, "fair_value": 77.061323, "relative_strength": 3.26167, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 1.558055, "energy": 10.249454, "activity_lines": [ 115.108984, 116.491346, 118.087073, 117.687003 ] }, { "date": "2023-09-29", "close": 112.043129, "volume": 654970, "typical_volume": 3195831.15, "trend": 115.048259, "fair_value": 77.481449, "relative_strength": 3.226793, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -25.59281, "energy": 35.182842, "activity_lines": [ 113.408828, 115.623539, 117.346418, 117.52557 ] }, { "date": "2023-10-06", "close": 111.206993, "volume": 825047, "typical_volume": 2756484.55, "trend": 115.590354, "fair_value": 77.892022, "relative_strength": 1.152855, "stage": 2, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -29.729108, "energy": 45.146279, "activity_lines": [ 111.987388, 114.673178, 116.5654, 117.277746 ] }, { "date": "2023-10-13", "close": 110.788918, "volume": 1139990, "typical_volume": 2653273.95, "trend": 116.212384, "fair_value": 78.306437, "relative_strength": -1.010937, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -31.115231, "energy": 49.679042, "activity_lines": [ 111.179118, 113.753422, 115.816551, 116.967976 ] }, { "date": "2023-10-20", "close": 106.6082, "volume": 1869439, "typical_volume": 2467646.05, "trend": 116.614596, "fair_value": 78.691724, "relative_strength": -2.77953, "stage": 3, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -71.433762, "energy": 65.096216, "activity_lines": [ 109.701931, 112.141946, 114.74543, 116.348351 ] }, { "date": "2023-10-27", "close": 106.6082, "volume": 629181, "typical_volume": 2327461.65, "trend": 116.922937, "fair_value": 79.076079, "relative_strength": -0.921957, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -68.635309, "energy": 65.546435, "activity_lines": [ 108.419845, 110.712902, 113.760531, 115.702777 ] }, { "date": "2023-11-03", "close": 107.026276, "volume": 569630, "typical_volume": 2183532.7, "trend": 116.856317, "fair_value": 79.461717, "relative_strength": -2.773169, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -65.624976, "energy": 66.070145, "activity_lines": [ 107.611574, 109.572708, 112.918912, 115.064283 ] }, { "date": "2023-11-10", "close": 110.788918, "volume": 1675789, "typical_volume": 2210966.35, "trend": 116.781017, "fair_value": 79.870076, "relative_strength": -0.304676, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -60.210935, "energy": 52.628365, "activity_lines": [ 108.391974, 109.359873, 112.50263, 114.672838 ] }, { "date": "2023-11-17", "close": 111.206993, "volume": 1197475, "typical_volume": 2167575.8, "trend": 116.840345, "fair_value": 80.283911, "relative_strength": -2.98883, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -57.145348, "energy": 39.758413, "activity_lines": [ 109.339604, 109.435887, 112.167573, 114.313224 ] }, { "date": "2023-11-24", "close": 113.29734, "volume": 1310598, "typical_volume": 2136602.3, "trend": 116.87548, "fair_value": 80.70835, "relative_strength": -1.639883, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -40.282814, "energy": 23.464309, "activity_lines": [ 110.956145, 110.081996, 112.074846, 114.084643 ] }, { "date": "2023-12-01", "close": 115.387703, "volume": 1626913, "typical_volume": 1999814.2, "trend": 116.712089, "fair_value": 81.138737, "relative_strength": -0.8718, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -21.986774, "energy": 20.754604, "activity_lines": [ 112.823531, 111.03976, 112.20875, 113.988657 ] }, { "date": "2023-12-08", "close": 116.223839, "volume": 1421790, "typical_volume": 1948746.95, "trend": 116.57657, "fair_value": 81.574483, "relative_strength": -0.017669, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -10.650092, "energy": 19.912321, "activity_lines": [ 114.384329, 112.081136, 112.45329, 113.957157 ] }, { "date": "2023-12-15", "close": 113.29734, "volume": 1533297, "typical_volume": 1924143.7, "trend": 116.142348, "fair_value": 81.986347, "relative_strength": -4.279285, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -7.526546, "energy": 19.829131, "activity_lines": [ 114.356456, 112.51441, 112.417403, 113.745594 ] }, { "date": "2023-12-22", "close": 112.461197, "volume": 825662, "typical_volume": 1766942.65, "trend": 115.666845, "fair_value": 82.388658, "relative_strength": -4.703551, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -8.701884, "energy": 16.48441, "activity_lines": [ 113.882641, 112.75765, 112.319852, 113.5081 ] }, { "date": "2023-12-29", "close": 112.461197, "volume": 525231, "typical_volume": 1617778.55, "trend": 115.258392, "fair_value": 82.793764, "relative_strength": -6.50602, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -11.822638, "energy": 10.218316, "activity_lines": [ 113.325212, 112.970486, 112.232256, 113.301284 ] }, { "date": "2024-01-05", "close": 110.788918, "volume": 538564, "typical_volume": 1470681.75, "trend": 114.673506, "fair_value": 83.18815, "relative_strength": -5.818269, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -36.012573, "energy": 20.587286, "activity_lines": [ 112.266099, 112.772853, 112.005304, 113.012931 ] }, { "date": "2024-01-12", "close": 108.280479, "volume": 931064, "typical_volume": 1380164.45, "trend": 114.246388, "fair_value": 83.566923, "relative_strength": -7.997914, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -52.083313, "energy": 36.868284, "activity_lines": [ 110.677426, 112.043127, 111.575287, 112.600478 ] }, { "date": "2024-01-19", "close": 107.444344, "volume": 730985, "typical_volume": 1342087.25, "trend": 113.845039, "fair_value": 83.934746, "relative_strength": -9.697908, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -58.312078, "energy": 58.421648, "activity_lines": [ 109.339599, 111.138573, 111.123371, 112.161636 ] }, { "date": "2024-01-26", "close": 107.026276, "volume": 548326, "typical_volume": 1278378.55, "trend": 113.402935, "fair_value": 84.29756, "relative_strength": -11.696372, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -67.935851, "energy": 70.143536, "activity_lines": [ 108.252615, 110.218816, 110.70331, 111.721716 ] }, { "date": "2024-02-02", "close": 106.6082, "volume": 564518, "typical_volume": 1084966.55, "trend": 112.987125, "fair_value": 84.6549, "relative_strength": -12.376351, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -68.567231, "energy": 73.888641, "activity_lines": [ 107.388601, 109.299059, 110.313109, 111.283346 ] }, { "date": "2024-02-09", "close": 106.190132, "volume": 232050, "typical_volume": 967525.95, "trend": 112.463509, "fair_value": 85.017944, "relative_strength": -12.870856, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -71.242062, "energy": 78.280987, "activity_lines": [ 106.77543, 108.424911, 109.897029, 110.84483 ] }, { "date": "2024-02-16", "close": 109.534698, "volume": 557175, "typical_volume": 962636.2, "trend": 112.252531, "fair_value": 85.403359, "relative_strength": -12.527511, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -61.204237, "energy": 56.079229, "activity_lines": [ 107.583701, 108.326094, 109.825359, 110.655875 ] }, { "date": "2024-02-23", "close": 112.043129, "volume": 1112758, "typical_volume": 977021.75, "trend": 112.084936, "fair_value": 85.78203, "relative_strength": -11.791731, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -30.227197, "energy": 21.939769, "activity_lines": [ 109.144501, 108.804976, 110.004533, 110.642365 ] }, { "date": "2024-03-01", "close": 114.133492, "volume": 1126585, "typical_volume": 976351.5, "trend": 112.071, "fair_value": 86.105632, "relative_strength": -10.320546, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -4.269087, "energy": 15.013466, "activity_lines": [ 111.095502, 109.686728, 110.378807, 110.77453 ] }, { "date": "2024-03-08", "close": 115.387703, "volume": 1876466, "typical_volume": 976702.85, "trend": 112.029193, "fair_value": 86.431218, "relative_strength": -13.15699, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "mixed", "direction": 24.162065, "energy": 33.989843, "activity_lines": [ 112.99076, 110.766112, 110.856603, 110.988511 ] }, { "date": "2024-03-15", "close": 111.625061, "volume": 2005600, "typical_volume": 1045523.8, "trend": 111.806222, "fair_value": 86.742, "relative_strength": -15.479634, "stage": 4, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 18.134614, "energy": 31.5464, "activity_lines": [ 113.046503, 111.108171, 110.934245, 110.962438 ] }, { "date": "2024-03-22", "close": 112.879272, "volume": 945394, "typical_volume": 1064312.0, "trend": 111.555379, "fair_value": 87.041259, "relative_strength": -16.750688, "stage": 3, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 28.697609, "energy": 37.589109, "activity_lines": [ 113.157988, 111.663066, 111.107446, 111.031667 ] }, { "date": "2024-03-29", "close": 113.29734, "volume": 988203, "typical_volume": 1029932.7, "trend": 111.248794, "fair_value": 87.318512, "relative_strength": -16.581884, "stage": 3, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 29.554033, "energy": 37.52382, "activity_lines": [ 113.185858, 112.210359, 111.292592, 111.144051 ] }, { "date": "2024-04-05", "close": 112.879272, "volume": 425001, "typical_volume": 991309.0, "trend": 110.956144, "fair_value": 87.604264, "relative_strength": -16.746869, "stage": 3, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "up", "direction": 51.177811, "energy": 29.930195, "activity_lines": [ 112.990757, 112.575221, 111.425976, 111.249243 ] }, { "date": "2024-04-12", "close": 109.534698, "volume": 1524502, "typical_volume": 1002004.2, "trend": 110.956144, "fair_value": 87.869973, "relative_strength": -20.351047, "stage": 3, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "up", "direction": 21.213908, "energy": 11.281572, "activity_lines": [ 111.764414, 112.22556, 111.232867, 111.157537 ] }, { "date": "2024-04-19", "close": 106.6082, "volume": 1194757, "typical_volume": 980396.4, "trend": 110.788915, "fair_value": 88.06429, "relative_strength": -17.305082, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -27.65537, "energy": 22.603326, "activity_lines": [ 109.952771, 111.2906, 110.778961, 110.877025 ] }, { "date": "2024-04-26", "close": 107.026276, "volume": 740484, "typical_volume": 946331.1, "trend": 110.621687, "fair_value": 88.289233, "relative_strength": -18.98423, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -26.701309, "energy": 30.324787, "activity_lines": [ 108.614944, 110.424053, 110.406679, 110.634274 ] }, { "date": "2024-05-03", "close": 108.280479, "volume": 496128, "typical_volume": 894472.65, "trend": 110.524136, "fair_value": 88.518025, "relative_strength": -18.313217, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -54.076398, "energy": 48.289501, "activity_lines": [ 108.085384, 109.83115, 110.197642, 110.483228 ] }, { "date": "2024-05-10", "close": 108.698555, "volume": 804746, "typical_volume": 893426.85, "trend": 110.454458, "fair_value": 88.739714, "relative_strength": -18.896119, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -54.736235, "energy": 53.159288, "activity_lines": [ 108.029641, 109.382673, 110.052312, 110.365449 ] }, { "date": "2024-05-17", "close": 107.862419, "volume": 353358, "typical_volume": 884833.2, "trend": 110.496265, "fair_value": 88.981662, "relative_strength": -20.958168, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -56.02096, "energy": 48.331341, "activity_lines": [ 107.9739, 108.880988, 109.845268, 110.19822 ] }, { "date": "2024-05-24", "close": 107.862419, "volume": 525632, "typical_volume": 884186.6, "trend": 110.538072, "fair_value": 89.282764, "relative_strength": -21.453128, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -54.936461, "energy": 34.595411, "activity_lines": [ 108.029645, 108.516127, 109.660122, 110.028295 ] }, { "date": "2024-05-31", "close": 107.026276, "volume": 601525, "typical_volume": 867709.65, "trend": 110.538072, "fair_value": 89.568725, "relative_strength": -20.040347, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -59.571732, "energy": 35.39997, "activity_lines": [ 107.72306, 108.067651, 109.40928, 109.801727 ] }, { "date": "2024-06-07", "close": 107.026276, "volume": 439042, "typical_volume": 853112.5, "trend": 110.412651, "fair_value": 89.834191, "relative_strength": -21.900708, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -58.879946, "energy": 40.931233, "activity_lines": [ 107.416476, 107.725593, 109.16441, 109.57516 ] }, { "date": "2024-06-14", "close": 106.6082, "volume": 396184, "typical_volume": 845505.4, "trend": 110.259358, "fair_value": 90.096046, "relative_strength": -23.910944, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -63.093436, "energy": 51.171004, "activity_lines": [ 107.054146, 107.421541, 108.881714, 109.329711 ] }, { "date": "2024-06-21", "close": 107.444344, "volume": 736690, "typical_volume": 854114.0, "trend": 110.064258, "fair_value": 90.346492, "relative_strength": -25.246245, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -58.166467, "energy": 47.675048, "activity_lines": [ 107.109888, 107.383535, 108.680641, 109.148097 ] }, { "date": "2024-06-28", "close": 107.026276, "volume": 367247, "typical_volume": 860873.85, "trend": 109.785544, "fair_value": 90.608232, "relative_strength": -24.241309, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -57.452234, "energy": 43.37698, "activity_lines": [ 107.054146, 107.307522, 108.435771, 108.952099 ] }, { "date": "2024-07-05", "close": 109.534698, "volume": 695701, "typical_volume": 867800.15, "trend": 109.562572, "fair_value": 90.866489, "relative_strength": -23.593569, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -32.713616, "energy": 18.850817, "activity_lines": [ 107.890287, 107.679985, 108.425817, 108.935915 ] }, { "date": "2024-07-12", "close": 105.353989, "volume": 1267943, "typical_volume": 875559.4, "trend": 109.297794, "fair_value": 91.041122, "relative_strength": -27.006324, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -65.783969, "energy": 33.223271, "activity_lines": [ 107.16563, 107.246711, 108.0177, 108.664394 ] }, { "date": "2024-07-19", "close": 107.026276, "volume": 652901, "typical_volume": 851875.2, "trend": 109.11663, "fair_value": 91.256749, "relative_strength": -21.922382, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -50.899511, "energy": 28.902426, "activity_lines": [ 107.109888, 107.170699, 107.800701, 108.517844 ] }, { "date": "2024-07-26", "close": 107.026276, "volume": 479436, "typical_volume": 782023.7, "trend": 108.935466, "fair_value": 91.47983, "relative_strength": -18.771509, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -48.387373, "energy": 28.025676, "activity_lines": [ 107.026275, 107.125091, 107.617546, 108.382983 ] }, { "date": "2024-08-02", "close": 106.6082, "volume": 747819, "typical_volume": 719134.65, "trend": 108.796109, "fair_value": 91.695106, "relative_strength": -16.786321, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -54.835347, "energy": 42.029783, "activity_lines": [ 106.831174, 107.018672, 107.434391, 108.232836 ] }, { "date": "2024-08-09", "close": 101.812675, "volume": 1555900, "typical_volume": 749659.95, "trend": 108.580515, "fair_value": 91.902, "relative_strength": -19.30501, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -81.54119, "energy": 69.858981, "activity_lines": [ 105.065436, 106.063144, 106.818409, 107.782292 ] }, { "date": "2024-08-16", "close": 98.714035, "volume": 1076731, "typical_volume": 754086.35, "trend": 108.289505, "fair_value": 92.062015, "relative_strength": -24.146335, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -91.182524, "energy": 87.813635, "activity_lines": [ 102.78162, 104.639019, 105.960016, 107.145745 ] }, { "date": "2024-08-23", "close": 98.714035, "volume": 649875, "typical_volume": 765330.05, "trend": 108.01243, "fair_value": 92.252032, "relative_strength": -22.764447, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -85.180046, "energy": 92.030524, "activity_lines": [ 100.940468, 103.366026, 105.171068, 106.527973 ] }, { "date": "2024-08-30", "close": 100.484688, "volume": 453228, "typical_volume": 711766.35, "trend": 107.808313, "fair_value": 92.469961, "relative_strength": -21.017931, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -66.123107, "energy": 86.015881, "activity_lines": [ 100.243682, 102.5585, 104.618207, 106.042312 ] }, { "date": "2024-09-06", "close": 98.27137, "volume": 454474, "typical_volume": 674752.2, "trend": 107.544354, "fair_value": 92.673214, "relative_strength": -19.005197, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -75.574025, "energy": 88.856777, "activity_lines": [ 99.24523, 101.475092, 103.897649, 105.427025 ] }, { "date": "2024-09-13", "close": 101.37001, "volume": 535453, "typical_volume": 664500.65, "trend": 107.272198, "fair_value": 92.894382, "relative_strength": -17.186541, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -63.786107, "energy": 57.132104, "activity_lines": [ 99.835447, 101.114253, 103.511898, 105.028681 ] }, { "date": "2024-09-20", "close": 101.812675, "volume": 306566, "typical_volume": 655022.55, "trend": 106.931183, "fair_value": 93.123746, "relative_strength": -17.696614, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -58.743419, "energy": 45.953157, "activity_lines": [ 100.602729, 100.982348, 103.195241, 104.676453 ] }, { "date": "2024-09-27", "close": 101.37001, "volume": 441205, "typical_volume": 636845.5, "trend": 106.505733, "fair_value": 93.354169, "relative_strength": -19.770325, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -45.167502, "energy": 34.672748, "activity_lines": [ 101.015881, 100.834345, 102.867225, 104.317668 ] }, { "date": "2024-10-04", "close": 100.927353, "volume": 132084, "typical_volume": 625781.8, "trend": 106.023722, "fair_value": 93.570551, "relative_strength": -17.626709, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -40.708147, "energy": 27.431963, "activity_lines": [ 101.104415, 100.708701, 102.531948, 103.957773 ] }, { "date": "2024-10-11", "close": 101.37001, "volume": 764375, "typical_volume": 637718.95, "trend": 105.681887, "fair_value": 93.808281, "relative_strength": -18.810952, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -39.304677, "energy": 25.453012, "activity_lines": [ 101.31099, 100.774429, 102.271853, 103.657533 ] }, { "date": "2024-10-18", "close": 104.026001, "volume": 873226, "typical_volume": 651304.0, "trend": 105.386778, "fair_value": 94.064984, "relative_strength": -18.167835, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -27.897766, "energy": 15.309736, "activity_lines": [ 102.19632, 101.418304, 102.295626, 103.550702 ] }, { "date": "2024-10-25", "close": 103.583336, "volume": 145412, "typical_volume": 636622.5, "trend": 105.062978, "fair_value": 94.301801, "relative_strength": -17.394377, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -24.493707, "energy": 15.517558, "activity_lines": [ 102.757029, 101.941453, 102.291528, 103.434351 ] }, { "date": "2024-11-01", "close": 103.583336, "volume": 175436, "typical_volume": 625585.1, "trend": 104.753113, "fair_value": 94.537644, "relative_strength": -14.742206, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -9.490068, "energy": 12.1581, "activity_lines": [ 103.199693, 102.376069, 102.303824, 103.33889 ] }, { "date": "2024-11-08", "close": 102.255341, "volume": 187318, "typical_volume": 598116.5, "trend": 104.510468, "fair_value": 94.766923, "relative_strength": -17.919703, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -10.361205, "energy": 12.998283, "activity_lines": [ 103.052138, 102.480698, 102.204049, 103.177743 ] }, { "date": "2024-11-15", "close": 101.37001, "volume": 213881, "typical_volume": 590448.2, "trend": 104.335861, "fair_value": 94.987604, "relative_strength": -15.109483, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -20.307766, "energy": 10.901552, "activity_lines": [ 102.52094, 102.392165, 102.044666, 102.975133 ] }, { "date": "2024-11-22", "close": 103.140663, "volume": 250431, "typical_volume": 568184.7, "trend": 104.206341, "fair_value": 95.220123, "relative_strength": -13.586878, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -12.000431, "energy": 7.180672, "activity_lines": [ 102.579959, 102.569229, 102.080852, 102.898024 ] }, { "date": "2024-11-29", "close": 102.255341, "volume": 283142, "typical_volume": 518944.65, "trend": 104.005503, "fair_value": 95.446966, "relative_strength": -11.19553, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -25.629138, "energy": 14.38765, "activity_lines": [ 102.402894, 102.553133, 102.063169, 102.772153 ] }, { "date": "2024-12-06", "close": 102.698006, "volume": 247380, "typical_volume": 498668.6, "trend": 103.805485, "fair_value": 95.682492, "relative_strength": -13.665598, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -24.674671, "energy": 12.998657, "activity_lines": [ 102.461916, 102.609472, 102.1024, 102.687798 ] }, { "date": "2024-12-13", "close": 101.37001, "volume": 358809, "typical_volume": 492637.25, "trend": 103.589071, "fair_value": 95.913402, "relative_strength": -13.491357, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -33.691335, "energy": 15.491258, "activity_lines": [ 102.137296, 102.400212, 102.035765, 102.530671 ] }, { "date": "2024-12-20", "close": 100.042023, "volume": 238281, "typical_volume": 467160.35, "trend": 103.328391, "fair_value": 96.13239, "relative_strength": -12.042568, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -45.169646, "energy": 27.120955, "activity_lines": [ 101.429035, 101.941451, 101.869591, 102.301829 ] }, { "date": "2024-12-27", "close": 100.927353, "volume": 162188, "typical_volume": 397474.75, "trend": 103.125094, "fair_value": 96.338056, "relative_strength": -13.545334, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -46.860789, "energy": 34.935355, "activity_lines": [ 101.104416, 101.667805, 101.819001, 102.146923 ] }, { "date": "2025-01-03", "close": 100.927353, "volume": 124149, "typical_volume": 349845.65, "trend": 102.921796, "fair_value": 96.538851, "relative_strength": -11.508034, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -47.993048, "energy": 38.684942, "activity_lines": [ 100.927351, 101.450498, 101.772627, 102.005133 ] }, { "date": "2025-01-10", "close": 100.484688, "volume": 257301, "typical_volume": 330216.95, "trend": 102.717679, "fair_value": 96.705148, "relative_strength": -11.672976, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -53.0292, "energy": 45.22651, "activity_lines": [ 100.691264, 101.200997, 101.673555, 101.8479 ] }, { "date": "2025-01-17", "close": 98.714035, "volume": 268178, "typical_volume": 320964.45, "trend": 102.426669, "fair_value": 96.883962, "relative_strength": -13.127633, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -70.242491, "energy": 57.589812, "activity_lines": [ 100.012514, 100.685898, 101.397417, 101.589601 ] }, { "date": "2025-01-24", "close": 100.927353, "volume": 112011, "typical_volume": 303841.3, "trend": 102.223372, "fair_value": 97.080374, "relative_strength": -12.033268, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -53.234976, "energy": 40.49119, "activity_lines": [ 100.248602, 100.637608, 101.340504, 101.492871 ] }, { "date": "2025-02-07", "close": 103.140663, "volume": 364467, "typical_volume": 295292.0, "trend": 102.010237, "fair_value": 97.295844, "relative_strength": -9.384144, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -19.034047, "energy": 12.126455, "activity_lines": [ 101.163437, 100.999787, 101.481734, 101.552051 ] }, { "date": "2025-02-14", "close": 101.812675, "volume": 324561, "typical_volume": 296191.75, "trend": 101.892193, "fair_value": 97.507185, "relative_strength": -8.76042, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -25.353951, "energy": 11.303386, "activity_lines": [ 101.488056, 101.120512, 101.488057, 101.539305 ] }, { "date": "2025-02-21", "close": 101.812675, "volume": 403406, "typical_volume": 294301.8, "trend": 101.718407, "fair_value": 97.714143, "relative_strength": -10.410765, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -3.396018, "energy": 10.966674, "activity_lines": [ 101.753654, 101.249287, 101.494381, 101.534175 ] }, { "date": "2025-02-28", "close": 102.255341, "volume": 265507, "typical_volume": 300972.95, "trend": 101.559375, "fair_value": 97.925399, "relative_strength": -6.818811, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 12.698767, "energy": 16.928055, "activity_lines": [ 102.078274, 101.474643, 101.540755, 101.568816 ] }, { "date": "2025-03-07", "close": 103.140663, "volume": 411632, "typical_volume": 283335.8, "trend": 101.443791, "fair_value": 98.14915, "relative_strength": -3.456812, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 48.916236, "energy": 33.429884, "activity_lines": [ 102.461914, 101.84487, 101.665122, 101.670834 ] }, { "date": "2025-03-14", "close": 107.567307, "volume": 798955, "typical_volume": 279622.25, "trend": 101.635612, "fair_value": 98.401277, "relative_strength": 3.868286, "stage": 2, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 83.04924, "energy": 68.21949, "activity_lines": [ 104.173549, 102.963602, 102.202642, 102.0659 ] }, { "date": "2025-03-21", "close": 106.239319, "volume": 456236, "typical_volume": 295163.45, "trend": 101.886455, "fair_value": 98.650736, "relative_strength": 1.841325, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 73.137139, "energy": 72.256562, "activity_lines": [ 105.147411, 103.720155, 102.596824, 102.362913 ] }, { "date": "2025-03-28", "close": 104.026001, "volume": 304187, "typical_volume": 301601.0, "trend": 102.06352, "fair_value": 98.883085, "relative_strength": 2.83995, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 61.368756, "energy": 65.861676, "activity_lines": [ 105.088391, 103.977706, 102.767567, 102.500948 ] }, { "date": "2025-04-04", "close": 103.140663, "volume": 223451, "typical_volume": 303407.65, "trend": 102.152053, "fair_value": 99.109271, "relative_strength": 3.738583, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 57.366778, "energy": 54.580355, "activity_lines": [ 104.586704, 104.009899, 102.851883, 102.570441 ] }, { "date": "2025-04-11", "close": 94.730057, "volume": 1163791, "typical_volume": 350903.15, "trend": 102.034009, "fair_value": 99.278134, "relative_strength": 4.212516, "stage": 1, "regime": "rotation_down", "modifier": "Structural failure", "gate": "mixed", "direction": -19.223608, "energy": 16.268118, "activity_lines": [ 101.222459, 102.432406, 102.130973, 102.091603 ] }, { "date": "2025-04-18", "close": 99.599358, "volume": 342129, "typical_volume": 355488.05, "trend": 101.974987, "fair_value": 99.480158, "relative_strength": 10.391774, "stage": 1, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -48.712218, "energy": 33.887764, "activity_lines": [ 100.042022, 101.852919, 101.905426, 101.934529 ] }, { "date": "2025-04-25", "close": 102.255341, "volume": 287110, "typical_volume": 355686.45, "trend": 101.989743, "fair_value": 99.706027, "relative_strength": 10.754952, "stage": 1, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -44.009483, "energy": 31.373269, "activity_lines": [ 100.278109, 101.820726, 101.949692, 101.952616 ] }, { "date": "2025-05-02", "close": 102.698006, "volume": 144241, "typical_volume": 350529.5, "trend": 102.034009, "fair_value": 99.932299, "relative_strength": 6.505792, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -13.270097, "energy": 17.866103, "activity_lines": [ 100.92735, 101.860968, 102.036117, 101.99831 ] }, { "date": "2025-05-09", "close": 104.026001, "volume": 240228, "typical_volume": 344600.45, "trend": 102.137298, "fair_value": 100.171954, "relative_strength": 7.382734, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 1.563401, "energy": 1.999867, "activity_lines": [ 102.107788, 102.126567, 102.249018, 102.126826 ] }, { "date": "2025-05-16", "close": 104.468666, "volume": 249165, "typical_volume": 345144.65, "trend": 102.240586, "fair_value": 100.416882, "relative_strength": 3.455358, "stage": 2, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 41.008063, "energy": 24.102266, "activity_lines": [ 103.376759, 102.440457, 102.491429, 102.277237 ] }, { "date": "2025-05-23", "close": 104.026001, "volume": 151486, "typical_volume": 344609.55, "trend": 102.240586, "fair_value": 100.678456, "relative_strength": 4.04449, "stage": 2, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 40.246719, "energy": 25.624261, "activity_lines": [ 103.848935, 102.649717, 102.670603, 102.392425 ] }, { "date": "2025-05-30", "close": 103.140663, "volume": 109174, "typical_volume": 343860.8, "trend": 102.22583, "fair_value": 100.92851, "relative_strength": 4.706763, "stage": 2, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 48.935987, "energy": 29.002674, "activity_lines": [ 103.730888, 102.762394, 102.750704, 102.450494 ] }, { "date": "2025-06-06", "close": 102.698006, "volume": 142054, "typical_volume": 338098.45, "trend": 102.196319, "fair_value": 101.175239, "relative_strength": 2.883469, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 45.698833, "energy": 30.035427, "activity_lines": [ 103.406268, 102.850926, 102.778107, 102.480957 ] }, { "date": "2025-06-13", "close": 101.37001, "volume": 150691, "typical_volume": 332224.1, "trend": 102.166808, "fair_value": 101.405661, "relative_strength": -0.21726, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 23.809496, "energy": 9.229944, "activity_lines": [ 102.638982, 102.722151, 102.668494, 102.427647 ] }, { "date": "2025-06-20", "close": 99.599358, "volume": 243359, "typical_volume": 338791.5, "trend": 102.107787, "fair_value": 101.622786, "relative_strength": -1.749158, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -15.502712, "energy": 13.295353, "activity_lines": [ 101.458545, 102.303632, 102.377601, 102.262005 ] }, { "date": "2025-06-27", "close": 101.37001, "volume": 109538, "typical_volume": 326045.05, "trend": 102.048765, "fair_value": 101.859541, "relative_strength": -2.315229, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -7.320215, "energy": 11.999288, "activity_lines": [ 101.192946, 102.118517, 102.261665, 102.214407 ] }, { "date": "2025-07-04", "close": 103.583336, "volume": 307075, "typical_volume": 325170.75, "trend": 102.093031, "fair_value": 102.114868, "relative_strength": -0.016047, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 2.221318, "energy": 6.838348, "activity_lines": [ 101.842188, 102.303632, 102.364953, 102.313411 ] }, { "date": "2025-07-11", "close": 102.255341, "volume": 364330, "typical_volume": 323216.95, "trend": 102.078276, "fair_value": 102.370449, "relative_strength": -2.117249, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -4.288705, "energy": 7.151829, "activity_lines": [ 102.019254, 102.223147, 102.333335, 102.323883 ] }, { "date": "2025-07-18", "close": 104.026001, "volume": 381311, "typical_volume": 329007.15, "trend": 102.166809, "fair_value": 102.63251, "relative_strength": -3.131883, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 49.550044, "energy": 23.304266, "activity_lines": [ 102.81605, 102.472649, 102.468242, 102.449543 ] }, { "date": "2025-07-25", "close": 104.468666, "volume": 406527, "typical_volume": 328751.9, "trend": 102.314364, "fair_value": 102.891564, "relative_strength": -2.556478, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 56.007077, "energy": 38.908782, "activity_lines": [ 103.583336, 102.802636, 102.636876, 102.598049 ] }, { "date": "2025-08-01", "close": 104.995834, "volume": 1019983, "typical_volume": 339803.3, "trend": 102.44998, "fair_value": 103.151075, "relative_strength": -2.210498, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 60.562007, "energy": 52.774714, "activity_lines": [ 104.201724, 103.228471, 102.849393, 102.771048 ] }, { "date": "2025-08-08", "close": 105.466667, "volume": 408045, "typical_volume": 337393.75, "trend": 102.60129, "fair_value": 103.409219, "relative_strength": -3.955647, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 64.932665, "energy": 61.828768, "activity_lines": [ 104.735334, 103.72228, 103.118997, 102.965672 ] }, { "date": "2025-08-15", "close": 104.054169, "volume": 347423, "typical_volume": 339555.55, "trend": 102.720273, "fair_value": 103.65149, "relative_strength": -6.277777, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 55.029489, "energy": 54.185896, "activity_lines": [ 104.672557, 103.916979, 103.257756, 103.059407 ] }, { "date": "2025-08-22", "close": 101.699997, "volume": 297270, "typical_volume": 343246.5, "trend": 102.819805, "fair_value": 103.849014, "relative_strength": -6.146709, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 35.101619, "energy": 20.419687, "activity_lines": [ 103.705133, 103.658989, 103.172174, 102.993582 ] }, { "date": "2025-08-29", "close": 103.583336, "volume": 208271, "typical_volume": 295470.5, "trend": 102.908338, "fair_value": 104.023022, "relative_strength": -6.185829, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 33.524692, "energy": 15.515853, "activity_lines": [ 103.520556, 103.737425, 103.272818, 103.042842 ] }, { "date": "2025-09-05", "close": 103.583336, "volume": 282021, "typical_volume": 292465.1, "trend": 102.923093, "fair_value": 104.197546, "relative_strength": -7.076041, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 29.412967, "energy": 15.243568, "activity_lines": [ 103.395001, 103.743425, 103.331303, 103.086391 ] }, { "date": "2025-09-12", "close": 102.17083, "volume": 237022, "typical_volume": 289960.7, "trend": 102.935032, "fair_value": 104.328974, "relative_strength": -11.655165, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -1.222094, "energy": 8.294948, "activity_lines": [ 102.892778, 103.452364, 103.236293, 103.037858 ] }, { "date": "2025-09-19", "close": 102.641663, "volume": 175382, "typical_volume": 291517.75, "trend": 102.962665, "fair_value": 104.47322, "relative_strength": -11.365496, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 1.502856, "energy": 5.904768, "activity_lines": [ 102.767221, 103.27259, 103.186526, 103.018931 ] }, { "date": "2025-09-26", "close": 104.054169, "volume": 382423, "typical_volume": 298627.5, "trend": 103.022626, "fair_value": 104.614142, "relative_strength": -9.9511, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 30.267103, "energy": 13.233065, "activity_lines": [ 103.206666, 103.342612, 103.271553, 103.08935 ] }, { "date": "2025-10-03", "close": 103.112503, "volume": 166382, "typical_volume": 294488.35, "trend": 103.021687, "fair_value": 104.764501, "relative_strength": -14.488918, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 15.789181, "energy": 8.309219, "activity_lines": [ 103.175278, 103.24091, 103.266762, 103.095149 ] }, { "date": "2025-10-10", "close": 100.287498, "volume": 465944, "typical_volume": 310211.25, "trend": 102.779027, "fair_value": 104.907066, "relative_strength": -18.181749, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -23.92444, "energy": 19.128911, "activity_lines": [ 102.233611, 102.650227, 102.999381, 102.918749 ] }, { "date": "2025-10-17", "close": 98.404167, "volume": 1301238, "typical_volume": 369814.45, "trend": 102.517855, "fair_value": 105.022601, "relative_strength": -19.435866, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -43.829397, "energy": 46.247861, "activity_lines": [ 100.883889, 101.802727, 102.570438, 102.6365 ] }, { "date": "2025-10-24", "close": 101.699997, "volume": 264298, "typical_volume": 375926.65, "trend": 102.440322, "fair_value": 105.132959, "relative_strength": -17.171017, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -24.616319, "energy": 41.738024, "activity_lines": [ 100.883888, 101.682878, 102.477939, 102.583735 ] }, { "date": "2025-10-31", "close": 100.287498, "volume": 239154, "typical_volume": 380349.8, "trend": 102.345216, "fair_value": 105.229104, "relative_strength": -20.04476, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -27.824402, "energy": 47.012673, "activity_lines": [ 100.475832, 101.349014, 102.255667, 102.444843 ] }, { "date": "2025-11-07", "close": 99.345833, "volume": 212127, "typical_volume": 378788.2, "trend": 102.499075, "fair_value": 105.332108, "relative_strength": -18.79315, "stage": 4, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -62.779035, "energy": 59.29275, "activity_lines": [ 100.004999, 100.86962, 101.948869, 102.251335 ] }, { "date": "2025-11-14", "close": 99.816666, "volume": 388244, "typical_volume": 392723.5, "trend": 102.506319, "fair_value": 105.386552, "relative_strength": -17.401498, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -57.138244, "energy": 41.862652, "activity_lines": [ 99.942221, 100.552878, 101.688119, 102.078276 ] }, { "date": "2025-11-21", "close": 96.991669, "volume": 566160, "typical_volume": 405677.75, "trend": 102.330863, "fair_value": 105.428044, "relative_strength": -16.529865, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -74.118897, "energy": 60.728009, "activity_lines": [ 98.969167, 99.790985, 101.165718, 101.722492 ] }, { "date": "2025-11-28", "close": 98.875, "volume": 173221, "typical_volume": 396122.3, "trend": 102.20343, "fair_value": 105.460979, "relative_strength": -18.248576, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -58.298162, "energy": 54.210178, "activity_lines": [ 98.718056, 99.465682, 100.854071, 101.499533 ] }, { "date": "2025-12-05", "close": 98.404167, "volume": 196175, "typical_volume": 386865.5, "trend": 102.016035, "fair_value": 105.524421, "relative_strength": -19.286802, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -60.268952, "energy": 49.764282, "activity_lines": [ 98.498334, 99.123257, 100.51368, 101.25442 ] }, { "date": "2025-12-12", "close": 98.875, "volume": 228352, "typical_volume": 377956.75, "trend": 101.82958, "fair_value": 105.575407, "relative_strength": -19.196466, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -57.595545, "energy": 47.138926, "activity_lines": [ 98.561111, 98.969167, 100.244901, 101.051772 ] }, { "date": "2025-12-19", "close": 99.345833, "volume": 278058, "typical_volume": 340860.5, "trend": 101.673574, "fair_value": 105.65778, "relative_strength": -17.040926, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -51.86677, "energy": 31.646366, "activity_lines": [ 98.812222, 98.977727, 100.047599, 100.891531 ] }, { "date": "2025-12-26", "close": 100.287498, "volume": 215963, "typical_volume": 331256.4, "trend": 101.578469, "fair_value": 105.751346, "relative_strength": -18.437499, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -37.693936, "energy": 21.47744, "activity_lines": [ 99.40861, 99.174621, 99.966885, 100.802106 ] }, { "date": "2026-01-02", "close": 99.816666, "volume": 264274, "typical_volume": 327098.95, "trend": 101.482424, "fair_value": 105.826421, "relative_strength": -20.684694, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -33.417262, "energy": 16.324664, "activity_lines": [ 99.628333, 99.251666, 99.865992, 100.688442 ] }, { "date": "2026-01-09", "close": 99.816666, "volume": 373769, "typical_volume": 330923.9, "trend": 101.430646, "fair_value": 105.922127, "relative_strength": -22.759368, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -31.412819, "energy": 16.964688, "activity_lines": [ 99.785277, 99.362954, 99.785277, 100.580973 ] }, { "date": "2026-01-16", "close": 103.583336, "volume": 579217, "typical_volume": 349471.2, "trend": 101.563445, "fair_value": 106.044558, "relative_strength": -22.328051, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": 8.108018, "energy": 15.12886, "activity_lines": [ 101.103611, 100.167652, 100.072262, 100.719857 ] }, { "date": "2026-01-23", "close": 105.9375, "volume": 720777, "typical_volume": 371409.0, "trend": 101.715695, "fair_value": 106.189815, "relative_strength": -21.599428, "stage": 3, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "mixed", "direction": 39.842987, "energy": 48.151396, "activity_lines": [ 102.892778, 101.323333, 100.583452, 101.002054 ] }, { "date": "2026-01-30", "close": 106.879166, "volume": 610019, "typical_volume": 390058.85, "trend": 101.825556, "fair_value": 106.335952, "relative_strength": -20.810091, "stage": 3, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 43.284768, "energy": 65.324423, "activity_lines": [ 104.556389, 102.538939, 101.173115, 101.335181 ] }, { "date": "2026-02-06", "close": 104.995834, "volume": 401550, "typical_volume": 401367.25, "trend": 101.916905, "fair_value": 106.426175, "relative_strength": -21.125525, "stage": 3, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 35.051259, "energy": 64.000355, "activity_lines": [ 105.152778, 103.232349, 101.560992, 101.539715 ] }, { "date": "2026-02-13", "close": 111.116669, "volume": 962259, "typical_volume": 430359.05, "trend": 102.153261, "fair_value": 106.542739, "relative_strength": -20.657609, "stage": 3, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 58.404865, "energy": 75.672943, "activity_lines": [ 107.444168, 104.927349, 102.520595, 102.133248 ] }, { "date": "2026-02-27", "close": 112.058334, "volume": 615879, "typical_volume": 452833.9, "trend": 102.40625, "fair_value": 106.649866, "relative_strength": -23.675266, "stage": 3, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "up", "direction": 84.754658, "energy": 89.680322, "activity_lines": [ 109.296112, 106.562425, 103.53625, 102.772285 ] }, { "date": "2026-03-06", "close": 111.587502, "volume": 575813, "typical_volume": 458327.35, "trend": 102.625972, "fair_value": 106.748818, "relative_strength": -19.474123, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 74.738591, "energy": 84.968894, "activity_lines": [ 110.426112, 107.872198, 104.464465, 103.364624 ] }, { "date": "2026-03-13", "close": 109.704163, "volume": 533325, "typical_volume": 419931.7, "trend": 102.767222, "fair_value": 106.830539, "relative_strength": -19.881318, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 65.049214, "energy": 76.777664, "activity_lines": [ 110.551666, 108.61697, 105.159504, 103.821281 ] }, { "date": "2026-03-20", "close": 108.762497, "volume": 277270, "typical_volume": 420580.3, "trend": 102.924166, "fair_value": 106.919118, "relative_strength": -20.290474, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 61.903535, "energy": 55.676068, "activity_lines": [ 110.174999, 109.019318, 105.711051, 104.208073 ] }, { "date": "2026-03-27", "close": 108.291664, "volume": 360350, "typical_volume": 426640.1, "trend": 103.143889, "fair_value": 107.022731, "relative_strength": -19.022528, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 58.634374, "energy": 45.26357, "activity_lines": [ 109.390276, 109.173408, 106.184127, 104.554363 ] }, { "date": "2026-04-03", "close": 108.291664, "volume": 205232, "typical_volume": 426295.35, "trend": 103.300833, "fair_value": 107.110871, "relative_strength": -17.091132, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 44.497006, "energy": 33.015309, "activity_lines": [ 108.793886, 109.173408, 106.619087, 104.886478 ] }, { "date": "2026-04-10", "close": 110.175003, "volume": 317485, "typical_volume": 422757.4, "trend": 103.520555, "fair_value": 107.193032, "relative_strength": -21.776079, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 48.247725, "energy": 32.493069, "activity_lines": [ 109.076388, 109.430227, 107.190813, 105.329973 ] }, { "date": "2026-04-17", "close": 110.645836, "volume": 495215, "typical_volume": 419210.15, "trend": 103.803055, "fair_value": 107.203422, "relative_strength": -23.720893, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 50.263446, "energy": 34.536499, "activity_lines": [ 109.610001, 109.695606, 107.758055, 105.789668 ] }, { "date": "2026-04-24", "close": 109.704163, "volume": 411455, "typical_volume": 431121.85, "trend": 104.038472, "fair_value": 107.181988, "relative_strength": -27.686319, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 53.172782, "energy": 36.426062, "activity_lines": [ 109.766944, 109.721287, 108.170595, 106.170385 ] }, { "date": "2026-05-01", "close": 109.704163, "volume": 245142, "typical_volume": 433570.2, "trend": 104.226805, "fair_value": 107.183764, "relative_strength": -26.835259, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 52.886571, "energy": 36.885821, "activity_lines": [ 109.86111, 109.661362, 108.531567, 106.535913 ] }, { "date": "2026-05-08", "close": 114.412498, "volume": 641062, "typical_volume": 454205.7, "trend": 104.603472, "fair_value": 107.197669, "relative_strength": -27.816197, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 73.39907, "energy": 48.987319, "activity_lines": [ 111.430554, 110.48318, 109.287142, 107.193055 ] }, { "date": "2026-05-15", "close": 109.704163, "volume": 518317, "typical_volume": 466218.65, "trend": 104.917361, "fair_value": 107.129815, "relative_strength": -29.236359, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 53.442093, "energy": 36.591203, "activity_lines": [ 111.022497, 110.406134, 109.520316, 107.522132 ] }, { "date": "2026-05-22", "close": 110.175003, "volume": 286498, "typical_volume": 469745.4, "trend": 105.309722, "fair_value": 107.064979, "relative_strength": -29.996787, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 52.423135, "energy": 36.994708, "activity_lines": [ 110.802777, 110.448938, 109.749007, 107.861334 ] }, { "date": "2026-05-29", "close": 112.529167, "volume": 662561, "typical_volume": 489659.75, "trend": 105.670694, "fair_value": 106.97655, "relative_strength": -31.632718, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 61.626638, "energy": 42.447208, "activity_lines": [ 111.399166, 110.911211, 110.154821, 108.327105 ] }, { "date": "2026-06-05", "close": 113.470833, "volume": 574428, "typical_volume": 499692.7, "trend": 106.110139, "fair_value": 106.891579, "relative_strength": -30.739989, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 65.109889, "energy": 42.790671, "activity_lines": [ 112.121111, 111.476211, 110.589781, 108.83034 ] }, { "date": "2026-06-12", "close": 112.058334, "volume": 470296, "typical_volume": 494246.65, "trend": 106.533889, "fair_value": 106.810448, "relative_strength": -29.382023, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 55.397813, "energy": 44.317925, "activity_lines": [ 112.121111, 111.690227, 110.825198, 109.214094 ] }, { "date": "2026-06-19", "close": 111.587502, "volume": 303189, "typical_volume": 473367.25, "trend": 106.92625, "fair_value": 106.703089, "relative_strength": -32.360513, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 53.732538, "energy": 39.57498, "activity_lines": [ 112.121112, 111.750152, 110.975416, 109.540134 ] }, { "date": "2026-06-26", "close": 109.704163, "volume": 572418, "typical_volume": 471487.2, "trend": 107.35, "fair_value": 106.630077, "relative_strength": -29.896346, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 37.702666, "energy": 25.138222, "activity_lines": [ 111.367777, 111.441969, 110.919364, 109.719354 ] }, { "date": "2026-07-03", "close": 112.529167, "volume": 409273, "typical_volume": 471873.35, "trend": 107.805138, "fair_value": 106.58549, "relative_strength": -30.695388, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 44.175595, "energy": 23.765426, "activity_lines": [ 111.5875, 111.664545, 111.118908, 110.053494 ] }, { "date": "2026-07-10", "close": 113.0, "volume": 0, "typical_volume": 423760.4, "trend": 108.291666, "fair_value": 106.538763, "relative_strength": -27.371182, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 56.249549, "energy": 29.416749, "activity_lines": [ 111.964166, 111.921363, 111.32742, 110.388646 ] }, { "date": "2026-07-17", "close": 115.824997, "volume": 213000, "typical_volume": 403616.45, "trend": 108.856666, "fair_value": 106.517882, "relative_strength": -20.07649, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 69.80723, "energy": 41.755003, "activity_lines": [ 113.313888, 112.631893, 111.796011, 110.874668 ] }, { "date": "2026-07-24", "close": 116.766663, "volume": 489122, "typical_volume": 399281.9, "trend": 109.43736, "fair_value": 106.484984, "relative_strength": -20.442909, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 74.782807, "energy": 71.057529, "activity_lines": [ 114.726387, 113.487953, 112.336348, 111.38499 ] }, { "date": "2026-07-31", "close": 115.0, "volume": 1111251, "typical_volume": 428178.2, "trend": 109.927777, "fair_value": 106.479446, "relative_strength": -19.847071, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 59.045335, "energy": 65.222141, "activity_lines": [ 115.204721, 113.894393, 112.683769, 111.74387 ] }, { "date": "2026-08-07", "close": 115.5, "volume": 301135, "typical_volume": 429371.45, "trend": 110.450555, "fair_value": 106.469375, "relative_strength": -20.655044, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 62.717014, "energy": 68.707348, "activity_lines": [ 115.496666, 114.304014, 113.05359, 112.103368 ] }, { "date": "2026-08-14", "close": 115.5, "volume": 711353, "typical_volume": 446921.6, "trend": 110.973333, "fair_value": 106.475455, "relative_strength": -22.554603, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 60.077274, "energy": 59.104267, "activity_lines": [ 115.590555, 114.65962, 113.391329, 112.429139 ] } ], "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." } } }