{ "ticker": { "uuid": "ff262f83-e817-4ec6-865a-9f6dc9445e6e", "symbol": "XMPT", "name": "VANECK CEF MUNI INCOME ETF", "exchange": "CBOE", "country": "US", "assetType": "etf" }, "methodBoundary": "Trend Architecture is a weekly structural classification, not a forecast, probability of return, recommendation or execution signal. Confidence measures geometric agreement and external confirmation only.", "analysis": { "eligible": true, "as_of": "2026-08-07", "benchmark": "SPY", "stage": 3, "stage_name": "Distribution", "phase": "3a", "phase_label": "Stage 3A \u00b7 Churning", "transition": "stage_3_churning", "transition_label": "Stage 3 range intact", "confidence": 96.0, "architecture_regime": "upward_expansion", "architecture_regime_label": "Upward Expansion", "architecture_modifier": "Re-accelerating", "architecture_gate": "up", "architecture_direction": 21.075, "architecture_energy": 20.731, "architecture_maturity": 59.316, "architecture_confidence": 75.068, "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": 49.44, "rotation_up": 20.49, "upward_expansion": 53.38, "deceleration": 90.58, "rotation_down": 40.53, "downward_expansion": 21.71 }, "activity_lines": [ 21.642146, 21.772718, 21.732216, 21.675825 ], "activity_state": "Compressed", "activity_direction": "Contracting", "rotation_direction": "Weakening", "price_acceptance": -0.166667 }, "latest_close": 21.715, "trend_reference": 21.631867, "distance_from_trend": 0.003843, "trend_direction": "Improving", "fair_value": 19.841641, "distance_from_fair_value": 0.094416, "fair_value_direction": "Weakening", "relative_strength": -9.176444, "relative_strength_direction": "Weakening", "price_momentum": 0.002161, "excess_performance": -0.123464, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.003843, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.01038, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.094416, "read": "Premium" }, { "label": "Fair Value direction", "positive": false, "value": -0.020828, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.091764, "read": "Lagging" }, { "label": "Relative strength direction", "positive": false, "value": -0.023847, "read": "Weakening" }, { "label": "Price momentum", "positive": true, "value": 0.002161, "read": "Positive" }, { "label": "Volume balance", "positive": false, "value": 0.992035, "read": "Supply-led" } ], "volume": { "latest": 278130, "relative_activity": 1.170194, "balance": 0.992035, "dry_up": 1.013685, "accumulation_observations": 3, "distribution_observations": 3 }, "risk": { "range_context": 0.016039, "annualized_volatility": 0.092611, "from_high_reference": -0.02223, "from_low_reference": 0.107878 }, "levels": { "trend_reference": 21.631867, "fair_value_reference": 19.841641, "structural_low": 20.574338, "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": 21, "median_return": 0.004837, "positive_rate": 0.666667, "directional_follow_through": 0.666667, "median_excess_return": -0.007375, "regime_survival": 0.809524, "best_return": 0.041906, "worst_return": -0.030897, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 6, "median_return": 0.012506, "positive_rate": 0.666667, "directional_follow_through": 0.666667, "median_excess_return": -0.025345, "regime_survival": 0.333333, "best_return": 0.075811, "worst_return": -0.034686, "sufficient": true }, { "horizon": "Extended", "sample_count": 4, "median_return": 0.007102, "positive_rate": 0.5, "directional_follow_through": 0.5, "median_excess_return": -0.070013, "regime_survival": 0.25, "best_return": 0.079211, "worst_return": -0.024681, "sufficient": false }, { "horizon": "Full cycle", "sample_count": 2, "median_return": -0.046356, "positive_rate": 0.5, "directional_follow_through": 0.5, "median_excess_return": -0.126208, "regime_survival": 0.0, "best_return": 0.102371, "worst_return": -0.195083, "sufficient": false } ], "ledger": [ { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2024-05-31", "end": "2024-11-01", "tenure": "Established", "return": 0.074462, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2024-11-08", "end": "2024-12-13", "tenure": "Developing", "return": -0.00207, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2024-12-20", "end": "2025-01-24", "tenure": "Developing", "return": 0.016903, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2025-01-31", "end": "2025-02-07", "tenure": "New", "return": 0.008604, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-02-14", "end": "2025-02-28", "tenure": "New", "return": 0.012201, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2025-03-07", "end": "2025-03-14", "tenure": "New", "return": -0.008603, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-03-21", "end": "2025-04-04", "tenure": "New", "return": -0.017256, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-04-11", "end": "2025-07-04", "tenure": "Established", "return": 0.052211, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-07-11", "end": "2025-08-29", "tenure": "Developing", "return": 0.011744, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2025-09-05", "end": "2025-09-19", "tenure": "New", "return": 0.030617, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-09-26", "end": "2026-03-20", "tenure": "Established", "return": 0.015867, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2026-03-27", "end": "2026-04-03", "tenure": "New", "return": 0.02425, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2026-04-10", "end": "2026-06-19", "tenure": "Developing", "return": 0.019901, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-06-26", "end": "2026-08-07", "tenure": "Developing", "return": -0.015903, "active": true } ], "chart_path": [ { "date": "2023-08-18", "close": 17.458935, "volume": 174496, "typical_volume": 194730.4, "trend": 17.986624, "fair_value": 20.359477, "relative_strength": -10.057581, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -62.526427, "energy": 41.426758, "activity_lines": [ 17.728259, 17.835543, 17.838465, 17.881786 ] }, { "date": "2023-08-25", "close": 17.288187, "volume": 159131, "typical_volume": 179788.0, "trend": 17.937537, "fair_value": 20.339863, "relative_strength": -11.292672, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -73.705088, "energy": 68.083146, "activity_lines": [ 17.543392, 17.729727, 17.781534, 17.836726 ] }, { "date": "2023-09-01", "close": 17.413516, "volume": 162858, "typical_volume": 177472.2, "trend": 17.888363, "fair_value": 20.321298, "relative_strength": -12.495269, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -64.647337, "energy": 72.48787, "activity_lines": [ 17.45404, 17.655554, 17.741246, 17.802918 ] }, { "date": "2023-09-08", "close": 17.122435, "volume": 263539, "typical_volume": 172722.0, "trend": 17.835631, "fair_value": 20.299461, "relative_strength": -12.553849, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -80.505357, "energy": 82.343785, "activity_lines": [ 17.318151, 17.537038, 17.677385, 17.753503 ] }, { "date": "2023-09-15", "close": 17.011139, "volume": 148588, "typical_volume": 171323.85, "trend": 17.798184, "fair_value": 20.277395, "relative_strength": -12.65834, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -80.255438, "energy": 84.550479, "activity_lines": [ 17.188086, 17.413241, 17.606772, 17.70031 ] }, { "date": "2023-09-22", "close": 16.788547, "volume": 220172, "typical_volume": 174299.75, "trend": 17.764211, "fair_value": 20.255334, "relative_strength": -10.850706, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -84.875751, "energy": 88.8193, "activity_lines": [ 17.031321, 17.263869, 17.520264, 17.635172 ] }, { "date": "2023-09-29", "close": 16.180701, "volume": 380778, "typical_volume": 187712.75, "trend": 17.710494, "fair_value": 20.227941, "relative_strength": -13.091191, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -94.504805, "energy": 96.419837, "activity_lines": [ 16.716633, 17.026947, 17.381882, 17.53301 ] }, { "date": "2023-10-06", "close": 16.03354, "volume": 1109337, "typical_volume": 239208.2, "trend": 17.652292, "fair_value": 20.199749, "relative_strength": -13.881753, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -91.787889, "energy": 96.439386, "activity_lines": [ 16.426724, 16.798059, 17.237569, 17.42482 ] }, { "date": "2023-10-13", "close": 16.282722, "volume": 277446, "typical_volume": 244206.8, "trend": 17.594127, "fair_value": 20.173399, "relative_strength": -12.538173, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -71.758848, "energy": 89.464463, "activity_lines": [ 16.311874, 16.653338, 17.124604, 17.33646 ] }, { "date": "2023-10-20", "close": 15.621102, "volume": 311032, "typical_volume": 255925.45, "trend": 17.523578, "fair_value": 20.143075, "relative_strength": -13.718269, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -91.173271, "energy": 96.226512, "activity_lines": [ 16.032464, 16.415297, 16.953773, 17.209168 ] }, { "date": "2023-10-27", "close": 15.57814, "volume": 465263, "typical_volume": 273079.6, "trend": 17.434641, "fair_value": 20.113051, "relative_strength": -11.549784, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -85.171017, "energy": 93.990579, "activity_lines": [ 15.831404, 16.207671, 16.788462, 17.083656 ] }, { "date": "2023-11-03", "close": 16.558007, "volume": 412801, "typical_volume": 287008.95, "trend": 17.377359, "fair_value": 20.085384, "relative_strength": -10.919849, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -67.20461, "energy": 65.894425, "activity_lines": [ 16.037659, 16.212399, 16.727216, 17.027099 ] }, { "date": "2023-11-10", "close": 16.816725, "volume": 328964, "typical_volume": 295206.9, "trend": 17.32842, "fair_value": 20.059055, "relative_strength": -10.525666, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -53.807348, "energy": 51.462681, "activity_lines": [ 16.305, 16.277442, 16.696406, 16.990929 ] }, { "date": "2023-11-17", "close": 17.411779, "volume": 298396, "typical_volume": 297917.4, "trend": 17.311124, "fair_value": 20.035762, "relative_strength": -9.194148, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -17.139029, "energy": 21.920026, "activity_lines": [ 16.71848, 16.461529, 16.727358, 16.996307 ] }, { "date": "2023-11-24", "close": 17.454899, "volume": 370143, "typical_volume": 308458.35, "trend": 17.288799, "fair_value": 20.011231, "relative_strength": -9.574207, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": 0.082385, "energy": 28.787228, "activity_lines": [ 17.071063, 16.648194, 16.764955, 17.005583 ] }, { "date": "2023-12-01", "close": 17.920334, "volume": 205572, "typical_volume": 306694.05, "trend": 17.284405, "fair_value": 19.988272, "relative_strength": -7.660798, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "mixed", "direction": 42.297971, "energy": 49.424524, "activity_lines": [ 17.456537, 16.911415, 16.848667, 17.046327 ] }, { "date": "2023-12-08", "close": 17.998211, "volume": 522650, "typical_volume": 324536.55, "trend": 17.288399, "fair_value": 19.965125, "relative_strength": -7.171107, "stage": 4, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 42.953399, "energy": 54.461071, "activity_lines": [ 17.711825, 17.168218, 16.940422, 17.092379 ] }, { "date": "2023-12-15", "close": 18.482778, "volume": 602225, "typical_volume": 342258.85, "trend": 17.316725, "fair_value": 19.946329, "relative_strength": -6.563826, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 50.529837, "energy": 77.758255, "activity_lines": [ 18.032621, 17.480078, 17.078784, 17.169436 ] }, { "date": "2023-12-22", "close": 18.422207, "volume": 286180, "typical_volume": 345342.1, "trend": 17.352021, "fair_value": 19.926489, "relative_strength": -7.376009, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 42.857455, "energy": 77.415417, "activity_lines": [ 18.222156, 17.736394, 17.209891, 17.240757 ] }, { "date": "2023-12-29", "close": 18.392873, "volume": 292154, "typical_volume": 349586.25, "trend": 17.377138, "fair_value": 19.904158, "relative_strength": -7.468175, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 45.521176, "energy": 79.33021, "activity_lines": [ 18.334552, 17.948477, 17.335081, 17.307909 ] }, { "date": "2024-01-05", "close": 18.42761, "volume": 357756, "typical_volume": 358749.25, "trend": 17.396905, "fair_value": 19.883403, "relative_strength": -5.476011, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 43.892031, "energy": 76.527689, "activity_lines": [ 18.395995, 18.11648, 17.460393, 17.375681 ] }, { "date": "2024-01-12", "close": 18.47103, "volume": 276832, "typical_volume": 364634.3, "trend": 17.420101, "fair_value": 19.861967, "relative_strength": -6.643925, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "up", "direction": 70.411819, "energy": 80.21099, "activity_lines": [ 18.438093, 18.240568, 17.585227, 17.44498 ] }, { "date": "2024-01-19", "close": 18.071563, "volume": 222831, "typical_volume": 367632.95, "trend": 17.426302, "fair_value": 19.837848, "relative_strength": -9.302854, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 65.41224, "energy": 59.720219, "activity_lines": [ 18.315515, 18.257244, 17.666384, 17.48701 ] }, { "date": "2024-01-26", "close": 18.19314, "volume": 282152, "typical_volume": 368563.6, "trend": 17.434575, "fair_value": 19.81311, "relative_strength": -9.218666, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 52.816204, "energy": 49.042981, "activity_lines": [ 18.260876, 18.27321, 17.755986, 17.536483 ] }, { "date": "2024-02-02", "close": 18.604733, "volume": 337398, "typical_volume": 378004.1, "trend": 17.460385, "fair_value": 19.78976, "relative_strength": -8.08666, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 76.932572, "energy": 59.832166, "activity_lines": [ 18.358706, 18.349804, 17.879689, 17.611977 ] }, { "date": "2024-02-09", "close": 18.63524, "volume": 211564, "typical_volume": 377573.7, "trend": 17.479836, "fair_value": 19.765833, "relative_strength": -8.793248, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 73.931475, "energy": 59.896692, "activity_lines": [ 18.452581, 18.411039, 17.998709, 17.687774 ] }, { "date": "2024-02-16", "close": 18.748551, "volume": 249016, "typical_volume": 370985.6, "trend": 17.501646, "fair_value": 19.745657, "relative_strength": -7.593603, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 76.990988, "energy": 80.620256, "activity_lines": [ 18.570384, 18.479878, 18.119726, 17.769627 ] }, { "date": "2024-02-23", "close": 18.783415, "volume": 102313, "typical_volume": 320634.4, "trend": 17.522064, "fair_value": 19.727554, "relative_strength": -8.568633, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 73.066059, "energy": 86.038347, "activity_lines": [ 18.681307, 18.541413, 18.231836, 17.852322 ] }, { "date": "2024-03-01", "close": 18.756395, "volume": 171432, "typical_volume": 315333.7, "trend": 17.555068, "fair_value": 19.708817, "relative_strength": -9.239907, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 68.579773, "energy": 83.399781, "activity_lines": [ 18.735767, 18.592569, 18.328279, 17.931956 ] }, { "date": "2024-03-08", "close": 18.878872, "volume": 224793, "typical_volume": 311021.75, "trend": 17.593578, "fair_value": 19.689428, "relative_strength": -8.011606, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 74.694182, "energy": 81.957023, "activity_lines": [ 18.793502, 18.659918, 18.424606, 18.017362 ] }, { "date": "2024-03-15", "close": 18.826382, "volume": 183170, "typical_volume": 296917.1, "trend": 17.639159, "fair_value": 19.670892, "relative_strength": -7.774814, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 68.853961, "energy": 71.793548, "activity_lines": [ 18.815464, 18.708886, 18.500421, 18.096898 ] }, { "date": "2024-03-22", "close": 18.878872, "volume": 95824, "typical_volume": 281068.25, "trend": 17.692182, "fair_value": 19.651305, "relative_strength": -9.13315, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 70.667081, "energy": 65.264052, "activity_lines": [ 18.842181, 18.760148, 18.565767, 18.17688 ] }, { "date": "2024-03-29", "close": 18.94011, "volume": 109043, "typical_volume": 270072.2, "trend": 17.743068, "fair_value": 19.630574, "relative_strength": -8.766033, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 72.183227, "energy": 65.218707, "activity_lines": [ 18.880622, 18.815129, 18.625893, 18.257391 ] }, { "date": "2024-04-05", "close": 18.576271, "volume": 233817, "typical_volume": 266843.25, "trend": 17.79153, "fair_value": 19.605944, "relative_strength": -9.300979, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 53.213976, "energy": 48.244594, "activity_lines": [ 18.787336, 18.788165, 18.641257, 18.311146 ] }, { "date": "2024-04-12", "close": 18.470874, "volume": 246643, "typical_volume": 260668.25, "trend": 17.840187, "fair_value": 19.579596, "relative_strength": -8.08279, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 45.922422, "energy": 34.843791, "activity_lines": [ 18.670927, 18.735072, 18.641038, 18.354975 ] }, { "date": "2024-04-19", "close": 18.295212, "volume": 203131, "typical_volume": 260546.2, "trend": 17.89041, "fair_value": 19.551823, "relative_strength": -5.740971, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 25.033646, "energy": 22.312431, "activity_lines": [ 18.523164, 18.652475, 18.619252, 18.384331 ] }, { "date": "2024-04-26", "close": 18.321823, "volume": 180224, "typical_volume": 243424.9, "trend": 17.96178, "fair_value": 19.524966, "relative_strength": -7.667089, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 2.412735, "energy": 21.750079, "activity_lines": [ 18.419682, 18.580898, 18.598214, 18.412164 ] }, { "date": "2024-05-03", "close": 18.524615, "volume": 279601, "typical_volume": 227293.7, "trend": 18.044816, "fair_value": 19.497, "relative_strength": -6.824065, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 7.3484, "energy": 23.045621, "activity_lines": [ 18.420935, 18.553951, 18.594949, 18.448476 ] }, { "date": "2024-05-10", "close": 18.824395, "volume": 210527, "typical_volume": 223511.05, "trend": 18.129539, "fair_value": 19.47245, "relative_strength": -6.686461, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 32.434237, "energy": 19.968696, "activity_lines": [ 18.549813, 18.586215, 18.620035, 18.498772 ] }, { "date": "2024-05-17", "close": 18.921382, "volume": 163650, "typical_volume": 217085.85, "trend": 18.239548, "fair_value": 19.447525, "relative_strength": -7.4093, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 55.341353, "energy": 34.743505, "activity_lines": [ 18.69448, 18.634877, 18.652443, 18.549858 ] }, { "date": "2024-05-24", "close": 18.842029, "volume": 161298, "typical_volume": 207262.95, "trend": 18.348344, "fair_value": 19.420248, "relative_strength": -7.503091, "stage": 2, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "up", "direction": 47.879, "energy": 40.95638, "activity_lines": [ 18.782661, 18.668338, 18.674777, 18.588728 ] }, { "date": "2024-05-31", "close": 18.700956, "volume": 94745, "typical_volume": 198158.6, "trend": 18.419776, "fair_value": 19.392189, "relative_strength": -7.541333, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 43.027912, "energy": 37.463532, "activity_lines": [ 18.787363, 18.675865, 18.681702, 18.611477 ] }, { "date": "2024-06-07", "close": 19.050862, "volume": 238196, "typical_volume": 198926.85, "trend": 18.494247, "fair_value": 19.365823, "relative_strength": -6.682392, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 69.745873, "energy": 59.962755, "activity_lines": [ 18.883425, 18.750246, 18.720856, 18.652193 ] }, { "date": "2024-06-14", "close": 19.387262, "volume": 140894, "typical_volume": 191863.95, "trend": 18.560097, "fair_value": 19.341414, "relative_strength": -6.325567, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 83.346084, "energy": 74.647914, "activity_lines": [ 19.056538, 18.883777, 18.787385, 18.709806 ] }, { "date": "2024-06-21", "close": 19.316441, "volume": 119003, "typical_volume": 180944.2, "trend": 18.622148, "fair_value": 19.316264, "relative_strength": -6.964924, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 75.134701, "energy": 75.451354, "activity_lines": [ 19.168519, 18.989686, 18.841483, 18.758603 ] }, { "date": "2024-06-28", "close": 19.484641, "volume": 470759, "typical_volume": 193903.95, "trend": 18.674291, "fair_value": 19.289961, "relative_strength": -5.855594, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 79.46011, "energy": 84.48844, "activity_lines": [ 19.310229, 19.110803, 18.908211, 18.814248 ] }, { "date": "2024-07-05", "close": 19.560843, "volume": 72834, "typical_volume": 185094.85, "trend": 18.726379, "fair_value": 19.263521, "relative_strength": -6.982585, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 77.523086, "energy": 87.648586, "activity_lines": [ 19.434499, 19.224149, 18.978152, 18.871444 ] }, { "date": "2024-07-12", "close": 19.818808, "volume": 322571, "typical_volume": 196107.75, "trend": 18.770914, "fair_value": 19.239861, "relative_strength": -6.402149, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 85.526487, "energy": 91.914763, "activity_lines": [ 19.587432, 19.36187, 19.068792, 18.941924 ] }, { "date": "2024-07-19", "close": 19.503023, "volume": 354866, "typical_volume": 205279.45, "trend": 18.806941, "fair_value": 19.214678, "relative_strength": -5.805907, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 66.544764, "energy": 79.503156, "activity_lines": [ 19.583907, 19.418644, 19.124427, 18.989157 ] }, { "date": "2024-07-26", "close": 19.712064, "volume": 52896, "typical_volume": 196684.6, "trend": 18.850914, "fair_value": 19.188631, "relative_strength": -3.798497, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 71.598022, "energy": 73.180019, "activity_lines": [ 19.642344, 19.501088, 19.196416, 19.047552 ] }, { "date": "2024-08-02", "close": 20.067306, "volume": 192677, "typical_volume": 197159.95, "trend": 18.90557, "fair_value": 19.165719, "relative_strength": 0.192431, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 84.66923, "energy": 74.257818, "activity_lines": [ 19.792821, 19.633745, 19.29827, 19.126029 ] }, { "date": "2024-08-09", "close": 20.001617, "volume": 216749, "typical_volume": 203206.2, "trend": 18.95659, "fair_value": 19.141833, "relative_strength": -0.00903, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 75.365763, "energy": 67.036415, "activity_lines": [ 19.882557, 19.732181, 19.387958, 19.196741 ] }, { "date": "2024-08-16", "close": 20.117802, "volume": 174296, "typical_volume": 206468.85, "trend": 19.024798, "fair_value": 19.117914, "relative_strength": -3.084538, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 77.475869, "energy": 82.826575, "activity_lines": [ 19.981636, 19.828092, 19.483365, 19.271658 ] }, { "date": "2024-08-23", "close": 20.207174, "volume": 266060, "typical_volume": 208081.0, "trend": 19.091932, "fair_value": 19.094265, "relative_strength": -3.815624, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 76.825672, "energy": 87.09727, "activity_lines": [ 20.090574, 19.920855, 19.581676, 19.34794 ] }, { "date": "2024-08-30", "close": 20.118695, "volume": 609398, "typical_volume": 226218.75, "trend": 19.142398, "fair_value": 19.07095, "relative_strength": -4.33048, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 67.281112, "energy": 81.863012, "activity_lines": [ 20.123074, 19.982623, 19.663794, 19.414183 ] }, { "date": "2024-09-06", "close": 20.317768, "volume": 198561, "typical_volume": 225990.25, "trend": 19.198482, "fair_value": 19.049617, "relative_strength": 0.857128, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 78.24558, "energy": 85.588875, "activity_lines": [ 20.194824, 20.065999, 19.757024, 19.490014 ] }, { "date": "2024-09-13", "close": 20.76229, "volume": 327035, "typical_volume": 233330.8, "trend": 19.265607, "fair_value": 19.030025, "relative_strength": -0.813108, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 91.560449, "energy": 92.941747, "activity_lines": [ 20.39805, 20.21505, 19.882959, 19.590904 ] }, { "date": "2024-09-20", "close": 20.735349, "volume": 273758, "typical_volume": 233038.65, "trend": 19.330671, "fair_value": 19.011722, "relative_strength": -2.176317, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 83.682962, "energy": 90.688712, "activity_lines": [ 20.541585, 20.337358, 19.994707, 19.685726 ] }, { "date": "2024-09-27", "close": 20.728973, "volume": 218444, "typical_volume": 233434.5, "trend": 19.396424, "fair_value": 18.997024, "relative_strength": -2.652455, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 76.076828, "energy": 88.944839, "activity_lines": [ 20.641824, 20.441843, 20.09532, 19.775939 ] }, { "date": "2024-10-04", "close": 20.730361, "volume": 270140, "typical_volume": 238759.0, "trend": 19.45814, "fair_value": 18.983347, "relative_strength": -2.819567, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 70.188378, "energy": 83.86526, "activity_lines": [ 20.707739, 20.524289, 20.186996, 19.862 ] }, { "date": "2024-10-11", "close": 20.72134, "volume": 97879, "typical_volume": 235588.05, "trend": 19.521305, "fair_value": 18.96774, "relative_strength": -3.844123, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 67.91034, "energy": 76.505297, "activity_lines": [ 20.72987, 20.586581, 20.269198, 19.943497 ] }, { "date": "2024-10-18", "close": 20.828239, "volume": 315599, "typical_volume": 246630.75, "trend": 19.586284, "fair_value": 18.955044, "relative_strength": -4.079039, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 74.484877, "energy": 69.108132, "activity_lines": [ 20.760729, 20.656418, 20.352633, 20.027815 ] }, { "date": "2024-10-25", "close": 20.180077, "volume": 158483, "typical_volume": 242645.1, "trend": 19.627616, "fair_value": 18.937688, "relative_strength": -5.998255, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 52.810862, "energy": 50.7338, "activity_lines": [ 20.571137, 20.593378, 20.364207, 20.066124 ] }, { "date": "2024-11-01", "close": 20.093475, "volume": 372524, "typical_volume": 254226.6, "trend": 19.67819, "fair_value": 18.917516, "relative_strength": -4.921699, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 41.462183, "energy": 30.221156, "activity_lines": [ 20.389696, 20.513459, 20.362157, 20.09618 ] }, { "date": "2024-11-08", "close": 20.347249, "volume": 232949, "typical_volume": 259923.9, "trend": 19.740736, "fair_value": 18.897956, "relative_strength": -7.86714, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 34.221002, "energy": 27.951826, "activity_lines": [ 20.335213, 20.481749, 20.380913, 20.139345 ] }, { "date": "2024-11-15", "close": 20.247552, "volume": 89697, "typical_volume": 240870.8, "trend": 19.805814, "fair_value": 18.878975, "relative_strength": -6.147471, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 25.170444, "energy": 29.983685, "activity_lines": [ 20.273038, 20.427756, 20.385265, 20.172043 ] }, { "date": "2024-11-22", "close": 20.274742, "volume": 122765, "typical_volume": 243367.35, "trend": 19.870911, "fair_value": 18.860981, "relative_strength": -7.328895, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 14.680418, "energy": 20.760792, "activity_lines": [ 20.251513, 20.379984, 20.388573, 20.202296 ] }, { "date": "2024-11-29", "close": 20.755101, "volume": 93042, "typical_volume": 231890.9, "trend": 19.945261, "fair_value": 18.846662, "relative_strength": -5.98985, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 45.707738, "energy": 25.72503, "activity_lines": [ 20.427007, 20.428414, 20.434231, 20.259341 ] }, { "date": "2024-12-06", "close": 20.623811, "volume": 886035, "typical_volume": 258449.35, "trend": 20.005241, "fair_value": 18.829466, "relative_strength": -7.114649, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 46.792012, "energy": 32.238362, "activity_lines": [ 20.520403, 20.452614, 20.462927, 20.303118 ] }, { "date": "2024-12-13", "close": 20.305121, "volume": 95535, "typical_volume": 260581.3, "trend": 20.051366, "fair_value": 18.809107, "relative_strength": -7.706392, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 35.046704, "energy": 26.509973, "activity_lines": [ 20.472213, 20.420782, 20.455933, 20.322465 ] }, { "date": "2024-12-20", "close": 19.590436, "volume": 180288, "typical_volume": 259961.85, "trend": 20.076313, "fair_value": 18.783963, "relative_strength": -8.989685, "stage": 3, "regime": "rotation_down", "modifier": "Structural failure", "gate": "up", "direction": -14.71445, "energy": 11.994129, "activity_lines": [ 20.188603, 20.266739, 20.378051, 20.292728 ] }, { "date": "2024-12-27", "close": 19.560114, "volume": 281222, "typical_volume": 263185.5, "trend": 20.104951, "fair_value": 18.757996, "relative_strength": -9.417753, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -40.083298, "energy": 54.086144, "activity_lines": [ 19.938693, 20.127746, 20.299551, 20.259425 ] }, { "date": "2025-01-03", "close": 19.944454, "volume": 618186, "typical_volume": 285380.0, "trend": 20.134738, "fair_value": 18.737761, "relative_strength": -6.854718, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -21.3015, "energy": 49.289997, "activity_lines": [ 19.864539, 20.081689, 20.259758, 20.24907 ] }, { "date": "2025-01-10", "close": 19.674501, "volume": 1041354, "typical_volume": 324144.7, "trend": 20.144312, "fair_value": 18.71973, "relative_strength": -6.034064, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -39.336324, "energy": 63.496438, "activity_lines": [ 19.754444, 19.990833, 20.19508, 20.219377 ] }, { "date": "2025-01-17", "close": 19.921576, "volume": 598613, "typical_volume": 323605.45, "trend": 20.164483, "fair_value": 18.708237, "relative_strength": -7.347721, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -32.903912, "energy": 53.06266, "activity_lines": [ 19.789994, 19.952518, 20.15647, 20.205007 ] }, { "date": "2025-01-24", "close": 19.921576, "volume": 1083971, "typical_volume": 367875.95, "trend": 20.179048, "fair_value": 18.697357, "relative_strength": -8.685276, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -28.746916, "energy": 29.360547, "activity_lines": [ 19.851114, 19.921943, 20.118799, 20.189336 ] }, { "date": "2025-01-31", "close": 20.1595, "volume": 192279, "typical_volume": 361138.15, "trend": 20.199003, "fair_value": 18.688425, "relative_strength": -6.418735, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "down", "direction": -40.872135, "energy": 26.021274, "activity_lines": [ 19.969466, 19.940553, 20.105673, 20.188075 ] }, { "date": "2025-02-07", "close": 20.332962, "volume": 304964, "typical_volume": 362698.45, "trend": 20.216142, "fair_value": 18.682707, "relative_strength": -5.254467, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "down", "direction": -20.420878, "energy": 17.69947, "activity_lines": [ 20.105679, 19.992797, 20.111939, 20.196717 ] }, { "date": "2025-02-14", "close": 20.359366, "volume": 499893, "typical_volume": 376770.9, "trend": 20.244686, "fair_value": 18.67726, "relative_strength": -6.287724, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -13.218261, "energy": 18.76633, "activity_lines": [ 20.224794, 20.057517, 20.122635, 20.205957 ] }, { "date": "2025-02-21", "close": 20.459644, "volume": 93758, "typical_volume": 367951.8, "trend": 20.269606, "fair_value": 18.673226, "relative_strength": -4.120378, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 21.866159, "energy": 26.266588, "activity_lines": [ 20.331676, 20.145278, 20.144641, 20.219826 ] }, { "date": "2025-02-28", "close": 20.607763, "volume": 231620, "typical_volume": 374638.85, "trend": 20.287621, "fair_value": 18.66811, "relative_strength": -2.365539, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 30.959189, "energy": 37.998594, "activity_lines": [ 20.452061, 20.25716, 20.182043, 20.241642 ] }, { "date": "2025-03-07", "close": 20.232705, "volume": 483734, "typical_volume": 383045.6, "trend": 20.295324, "fair_value": 18.666095, "relative_strength": -0.983443, "stage": 3, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 17.999099, "energy": 26.166857, "activity_lines": [ 20.40168, 20.282353, 20.184266, 20.238099 ] }, { "date": "2025-03-14", "close": 20.058647, "volume": 196047, "typical_volume": 384923.8, "trend": 20.293352, "fair_value": 18.663478, "relative_strength": 0.540919, "stage": 3, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "down", "direction": -14.397589, "energy": 15.320736, "activity_lines": [ 20.2884, 20.263669, 20.172748, 20.22283 ] }, { "date": "2025-03-21", "close": 20.104866, "volume": 219602, "typical_volume": 377277.7, "trend": 20.289942, "fair_value": 18.66476, "relative_strength": 0.318144, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -28.110834, "energy": 12.411538, "activity_lines": [ 20.208814, 20.251313, 20.16621, 20.210669 ] }, { "date": "2025-03-28", "close": 19.88117, "volume": 162338, "typical_volume": 373747.15, "trend": 20.282024, "fair_value": 18.662211, "relative_strength": 0.735833, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -49.054648, "energy": 32.282634, "activity_lines": [ 20.071629, 20.190461, 20.138313, 20.184297 ] }, { "date": "2025-04-04", "close": 19.757934, "volume": 229571, "typical_volume": 380740.85, "trend": 20.263363, "fair_value": 18.66321, "relative_strength": 9.925605, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -56.802565, "energy": 44.998871, "activity_lines": [ 19.93193, 20.107936, 20.1009, 20.150485 ] }, { "date": "2025-04-11", "close": 18.884669, "volume": 930901, "typical_volume": 421147.65, "trend": 20.200776, "fair_value": 18.661917, "relative_strength": -0.505431, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -89.182334, "energy": 81.616049, "activity_lines": [ 19.557798, 19.869611, 19.982649, 20.061537 ] }, { "date": "2025-04-18", "close": 19.17263, "volume": 129950, "typical_volume": 422993.05, "trend": 20.148685, "fair_value": 18.663089, "relative_strength": 2.51183, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -78.152622, "energy": 83.211418, "activity_lines": [ 19.369522, 19.706821, 19.898443, 19.995205 ] }, { "date": "2025-04-25", "close": 19.460591, "volume": 135875, "typical_volume": 385485.05, "trend": 20.106406, "fair_value": 18.666675, "relative_strength": -0.464411, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -64.858646, "energy": 76.156335, "activity_lines": [ 19.336301, 19.617485, 19.849197, 19.950812 ] }, { "date": "2025-05-02", "close": 19.682615, "volume": 688625, "typical_volume": 415139.55, "trend": 20.071481, "fair_value": 18.672595, "relative_strength": -2.088063, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -61.920881, "energy": 66.51775, "activity_lines": [ 19.42004, 19.584859, 19.826635, 19.92347 ] }, { "date": "2025-05-09", "close": 19.775986, "volume": 118461, "typical_volume": 412048.2, "trend": 20.039969, "fair_value": 18.681134, "relative_strength": -1.118175, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -54.829034, "energy": 36.722336, "activity_lines": [ 19.548139, 19.583336, 19.815931, 19.904406 ] }, { "date": "2025-05-16", "close": 19.747975, "volume": 432082, "typical_volume": 419591.2, "trend": 20.00396, "fair_value": 18.691698, "relative_strength": -6.069532, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -37.981985, "energy": 19.899839, "activity_lines": [ 19.665698, 19.591844, 19.801675, 19.885568 ] }, { "date": "2025-05-23", "close": 19.327805, "volume": 259293, "typical_volume": 401646.55, "trend": 19.975551, "fair_value": 18.689537, "relative_strength": -5.535717, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -48.893814, "energy": 23.976637, "activity_lines": [ 19.585647, 19.532771, 19.746508, 19.841945 ] }, { "date": "2025-05-30", "close": 19.495873, "volume": 145054, "typical_volume": 356831.55, "trend": 19.955631, "fair_value": 18.688923, "relative_strength": -6.231653, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -40.114809, "energy": 22.505233, "activity_lines": [ 19.551273, 19.517543, 19.710284, 19.810998 ] }, { "date": "2025-06-06", "close": 19.420354, "volume": 229496, "typical_volume": 338375.7, "trend": 19.924735, "fair_value": 18.692041, "relative_strength": -7.928459, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -55.388488, "energy": 32.20987, "activity_lines": [ 19.489374, 19.499658, 19.667718, 19.776464 ] }, { "date": "2025-06-13", "close": 19.501061, "volume": 220692, "typical_volume": 295211.75, "trend": 19.899852, "fair_value": 18.702129, "relative_strength": -7.03634, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -52.250602, "energy": 33.612449, "activity_lines": [ 19.471862, 19.504825, 19.635226, 19.74913 ] }, { "date": "2025-06-20", "close": 19.4166, "volume": 124663, "typical_volume": 291830.95, "trend": 19.871247, "fair_value": 18.708918, "relative_strength": -7.125703, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -53.884688, "energy": 32.375519, "activity_lines": [ 19.444524, 19.499305, 19.596692, 19.717952 ] }, { "date": "2025-06-27", "close": 19.566752, "volume": 130213, "typical_volume": 283093.4, "trend": 19.831635, "fair_value": 18.714017, "relative_strength": -9.328046, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -49.903324, "energy": 27.853975, "activity_lines": [ 19.489328, 19.511415, 19.575996, 19.698308 ] }, { "date": "2025-07-04", "close": 19.870663, "volume": 173953, "typical_volume": 266796.4, "trend": 19.80653, "fair_value": 18.719182, "relative_strength": -9.260115, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -21.453467, "energy": 11.275247, "activity_lines": [ 19.619507, 19.571615, 19.587892, 19.700826 ] }, { "date": "2025-07-11", "close": 19.700909, "volume": 130321, "typical_volume": 268624.55, "trend": 19.78639, "fair_value": 18.72237, "relative_strength": -9.576632, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -15.861091, "energy": 13.130619, "activity_lines": [ 19.668114, 19.593495, 19.585949, 19.694011 ] }, { "date": "2025-07-18", "close": 19.432132, "volume": 170179, "typical_volume": 265552.5, "trend": 19.781113, "fair_value": 18.723887, "relative_strength": -11.128307, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -27.928905, "energy": 16.634576, "activity_lines": [ 19.608426, 19.566174, 19.562021, 19.671156 ] }, { "date": "2025-07-25", "close": 19.446278, "volume": 246436, "typical_volume": 253687.6, "trend": 19.777319, "fair_value": 18.721784, "relative_strength": -12.094995, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -30.295386, "energy": 14.627958, "activity_lines": [ 19.558048, 19.547677, 19.545038, 19.649554 ] }, { "date": "2025-08-01", "close": 19.70006, "volume": 201539, "typical_volume": 253962.2, "trend": 19.769172, "fair_value": 18.721258, "relative_strength": -8.418284, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -14.180535, "energy": 10.840166, "activity_lines": [ 19.590286, 19.580808, 19.55597, 19.644569 ] }, { "date": "2025-08-08", "close": 19.695321, "volume": 227341, "typical_volume": 254349.15, "trend": 19.769866, "fair_value": 18.718971, "relative_strength": -10.308726, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -11.523759, "energy": 9.686171, "activity_lines": [ 19.612057, 19.606308, 19.568158, 19.639805 ] }, { "date": "2025-08-15", "close": 19.742711, "volume": 231874, "typical_volume": 257825.95, "trend": 19.763904, "fair_value": 18.720555, "relative_strength": -10.665463, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -3.744565, "energy": 7.190778, "activity_lines": [ 19.661314, 19.636799, 19.586809, 19.638053 ] }, { "date": "2025-08-22", "close": 19.748493, "volume": 355995, "typical_volume": 264147.15, "trend": 19.758135, "fair_value": 18.723592, "relative_strength": -10.608406, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -2.088047, "energy": 16.550238, "activity_lines": [ 19.709711, 19.66248, 19.606671, 19.637058 ] }, { "date": "2025-08-29", "close": 19.932272, "volume": 198701, "typical_volume": 227537.15, "trend": 19.75056, "fair_value": 18.731396, "relative_strength": -9.473969, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 32.369086, "energy": 42.611443, "activity_lines": [ 19.798278, 19.717076, 19.64408, 19.648293 ] }, { "date": "2025-09-05", "close": 20.231307, "volume": 249262, "typical_volume": 233502.75, "trend": 19.747172, "fair_value": 18.74175, "relative_strength": -8.074069, "stage": 3, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 58.022655, "energy": 67.070892, "activity_lines": [ 19.954123, 19.816666, 19.704981, 19.679309 ] }, { "date": "2025-09-12", "close": 20.745905, "volume": 328815, "typical_volume": 243149.75, "trend": 19.760056, "fair_value": 18.758827, "relative_strength": -6.886316, "stage": 3, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 67.921498, "energy": 82.551371, "activity_lines": [ 20.246084, 19.997737, 19.809849, 19.743743 ] }, { "date": "2025-09-19", "close": 20.85073, "volume": 223063, "typical_volume": 219871.65, "trend": 19.773093, "fair_value": 18.780685, "relative_strength": -7.268353, "stage": 3, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "up", "direction": 92.632112, "energy": 96.553113, "activity_lines": [ 20.502949, 20.181954, 19.91858, 19.814109 ] }, { "date": "2025-09-26", "close": 20.784023, "volume": 192006, "typical_volume": 223548.9, "trend": 19.778968, "fair_value": 18.805224, "relative_strength": -7.022307, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 79.989174, "energy": 92.53164, "activity_lines": [ 20.663709, 20.333136, 20.015396, 19.879331 ] }, { "date": "2025-10-03", "close": 20.792276, "volume": 307527, "typical_volume": 217321.15, "trend": 19.79762, "fair_value": 18.828204, "relative_strength": -7.72104, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 72.833194, "energy": 90.094707, "activity_lines": [ 20.758185, 20.461239, 20.108197, 19.944706 ] }, { "date": "2025-10-10", "close": 20.957924, "volume": 148190, "typical_volume": 211766.0, "trend": 19.827596, "fair_value": 18.853993, "relative_strength": -4.456548, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 78.787021, "energy": 91.571475, "activity_lines": [ 20.850544, 20.594987, 20.211802, 20.019564 ] }, { "date": "2025-10-17", "close": 20.97899, "volume": 196448, "typical_volume": 214335.7, "trend": 19.856734, "fair_value": 18.88124, "relative_strength": -5.755305, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 76.257065, "energy": 86.125132, "activity_lines": [ 20.901483, 20.709695, 20.30965, 20.093847 ] }, { "date": "2025-10-24", "close": 21.113041, "volume": 136496, "typical_volume": 209685.7, "trend": 19.897796, "fair_value": 18.910828, "relative_strength": -6.734722, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 80.919279, "energy": 80.52606, "activity_lines": [ 20.981567, 20.825437, 20.413203, 20.174899 ] }, { "date": "2025-10-31", "close": 21.180066, "volume": 172106, "typical_volume": 207256.4, "trend": 19.9452, "fair_value": 18.940729, "relative_strength": -6.85406, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 79.909231, "energy": 78.742511, "activity_lines": [ 21.066506, 20.928449, 20.515078, 20.257626 ] }, { "date": "2025-11-07", "close": 21.049859, "volume": 133855, "typical_volume": 207716.0, "trend": 20.017373, "fair_value": 18.966075, "relative_strength": -5.730519, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 67.615354, "energy": 66.641383, "activity_lines": [ 21.081639, 20.981759, 20.596558, 20.328895 ] }, { "date": "2025-11-14", "close": 21.137311, "volume": 117421, "typical_volume": 207076.4, "trend": 20.082863, "fair_value": 18.989328, "relative_strength": -5.281027, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 69.775005, "energy": 66.534236, "activity_lines": [ 21.108751, 21.03065, 20.678589, 20.401149 ] }, { "date": "2025-11-21", "close": 20.953653, "volume": 194880, "typical_volume": 208122.75, "trend": 20.132631, "fair_value": 19.007892, "relative_strength": -4.118202, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 64.089209, "energy": 61.196659, "activity_lines": [ 21.062684, 21.029676, 20.73565, 20.457329 ] }, { "date": "2025-11-28", "close": 21.114317, "volume": 116948, "typical_volume": 207454.1, "trend": 20.180355, "fair_value": 19.02643, "relative_strength": -6.612214, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 66.267849, "energy": 57.295555, "activity_lines": [ 21.071861, 21.054136, 20.802855, 20.520663 ] }, { "date": "2025-12-05", "close": 21.298004, "volume": 427632, "typical_volume": 220326.75, "trend": 20.231089, "fair_value": 19.047681, "relative_strength": -5.936327, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 75.996793, "energy": 61.68867, "activity_lines": [ 21.142182, 21.107201, 20.880824, 20.59277 ] }, { "date": "2025-12-12", "close": 21.129399, "volume": 267729, "typical_volume": 221391.4, "trend": 20.277136, "fair_value": 19.068429, "relative_strength": -5.977647, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 61.180199, "energy": 55.903822, "activity_lines": [ 21.148439, 21.120265, 20.933849, 20.650725 ] }, { "date": "2025-12-19", "close": 21.056311, "volume": 421756, "typical_volume": 232402.25, "trend": 20.334753, "fair_value": 19.089732, "relative_strength": -6.274733, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 60.620447, "energy": 53.20622, "activity_lines": [ 21.12503, 21.113911, 20.9719, 20.700995 ] }, { "date": "2025-12-26", "close": 21.046643, "volume": 193434, "typical_volume": 230706.9, "trend": 20.386445, "fair_value": 19.109659, "relative_strength": -7.48759, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 48.440179, "energy": 44.618092, "activity_lines": [ 21.103799, 21.104011, 21.002571, 20.746923 ] }, { "date": "2026-01-02", "close": 21.254375, "volume": 277268, "typical_volume": 232976.6, "trend": 20.44758, "fair_value": 19.129499, "relative_strength": -5.433855, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 67.696053, "energy": 48.120511, "activity_lines": [ 21.145612, 21.13065, 21.046591, 20.802918 ] }, { "date": "2026-01-09", "close": 21.448656, "volume": 266377, "typical_volume": 228495.7, "trend": 20.512499, "fair_value": 19.149031, "relative_strength": -5.881795, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 77.375263, "energy": 56.197036, "activity_lines": [ 21.242849, 21.190043, 21.101916, 20.867504 ] }, { "date": "2026-01-16", "close": 21.584653, "volume": 503299, "typical_volume": 243725.6, "trend": 20.584768, "fair_value": 19.16708, "relative_strength": -4.814497, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 80.966961, "energy": 70.394953, "activity_lines": [ 21.375374, 21.26928, 21.162097, 20.936675 ] }, { "date": "2026-01-23", "close": 21.302945, "volume": 267421, "typical_volume": 244633.55, "trend": 20.642641, "fair_value": 19.183376, "relative_strength": -5.601399, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 61.827349, "energy": 62.213161, "activity_lines": [ 21.383647, 21.287573, 21.18758, 20.983009 ] }, { "date": "2026-01-30", "close": 21.526369, "volume": 520660, "typical_volume": 254225.8, "trend": 20.697831, "fair_value": 19.200283, "relative_strength": -4.833623, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 70.465098, "energy": 66.986822, "activity_lines": [ 21.449951, 21.343477, 21.229239, 21.040024 ] }, { "date": "2026-02-06", "close": 21.668181, "volume": 221444, "typical_volume": 254144.85, "trend": 20.763407, "fair_value": 19.219282, "relative_strength": -3.857319, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 77.330783, "energy": 67.683199, "activity_lines": [ 21.531545, 21.414752, 21.280687, 21.102627 ] }, { "date": "2026-02-13", "close": 21.941473, "volume": 269785, "typical_volume": 258033.8, "trend": 20.847052, "fair_value": 19.243685, "relative_strength": -1.285018, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 86.871945, "energy": 74.190523, "activity_lines": [ 21.676649, 21.525647, 21.35427, 21.178631 ] }, { "date": "2026-02-20", "close": 21.941473, "volume": 193517, "typical_volume": 252333.3, "trend": 20.930225, "fair_value": 19.270184, "relative_strength": -2.230311, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 81.946945, "energy": 89.751427, "activity_lines": [ 21.788899, 21.624842, 21.422341, 21.249239 ] }, { "date": "2026-02-27", "close": 22.058598, "volume": 141872, "typical_volume": 252017.4, "trend": 21.008843, "fair_value": 19.297532, "relative_strength": -1.04405, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 81.303115, "energy": 91.309184, "activity_lines": [ 21.916402, 21.730567, 21.496095, 21.322038 ] }, { "date": "2026-03-06", "close": 21.751528, "volume": 233202, "typical_volume": 253855.1, "trend": 21.077383, "fair_value": 19.322993, "relative_strength": -0.258005, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 67.230192, "energy": 81.768206, "activity_lines": [ 21.891172, 21.762238, 21.535363, 21.369953 ] }, { "date": "2026-03-13", "close": 21.535389, "volume": 111737, "typical_volume": 252617.15, "trend": 21.137139, "fair_value": 19.345479, "relative_strength": 0.466286, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 62.754032, "energy": 53.862962, "activity_lines": [ 21.778885, 21.741796, 21.550367, 21.399502 ] }, { "date": "2026-03-20", "close": 21.113802, "volume": 178633, "typical_volume": 252943.5, "trend": 21.182649, "fair_value": 19.367121, "relative_strength": 0.513889, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 16.725961, "energy": 13.946862, "activity_lines": [ 21.534921, 21.639591, 21.52321, 21.397996 ] }, { "date": "2026-03-27", "close": 20.633178, "volume": 811929, "typical_volume": 286847.2, "trend": 21.206013, "fair_value": 19.382422, "relative_strength": 0.687125, "stage": 2, "regime": "rotation_down", "modifier": "Structural failure", "gate": "mixed", "direction": -31.364562, "energy": 37.245718, "activity_lines": [ 21.185928, 21.456089, 21.450593, 21.362546 ] }, { "date": "2026-04-03", "close": 21.133524, "volume": 132763, "typical_volume": 287614.3, "trend": 21.236087, "fair_value": 19.400737, "relative_strength": 0.146808, "stage": 2, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -18.526336, "energy": 35.492816, "activity_lines": [ 21.090936, 21.380858, 21.427614, 21.357869 ] }, { "date": "2026-04-10", "close": 21.547521, "volume": 250398, "typical_volume": 290390.2, "trend": 21.262807, "fair_value": 19.421651, "relative_strength": -1.202632, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -8.581459, "energy": 25.9353, "activity_lines": [ 21.195615, 21.38398, 21.44408, 21.377962 ] }, { "date": "2026-04-17", "close": 21.675662, "volume": 148013, "typical_volume": 291943.45, "trend": 21.290305, "fair_value": 19.445657, "relative_strength": -4.547593, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 23.542889, "energy": 19.337553, "activity_lines": [ 21.356608, 21.410015, 21.469922, 21.404598 ] }, { "date": "2026-04-24", "close": 21.587442, "volume": 176950, "typical_volume": 279409.35, "trend": 21.317085, "fair_value": 19.467855, "relative_strength": -5.127689, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 37.642854, "energy": 21.347898, "activity_lines": [ 21.478843, 21.419875, 21.48469, 21.423768 ] }, { "date": "2026-05-01", "close": 21.506302, "volume": 285755, "typical_volume": 280310.65, "trend": 21.340886, "fair_value": 19.489997, "relative_strength": -6.064842, "stage": 3, "regime": "deceleration", "modifier": "Re-acceleration watch", "gate": "up", "direction": 36.110885, "energy": 27.005099, "activity_lines": [ 21.542455, 21.421418, 21.490351, 21.435975 ] }, { "date": "2026-05-08", "close": 21.763862, "volume": 130206, "typical_volume": 265733.15, "trend": 21.367751, "fair_value": 19.514904, "relative_strength": -6.791777, "stage": 3, "regime": "deceleration", "modifier": "Re-acceleration watch", "gate": "up", "direction": 48.209615, "energy": 32.197707, "activity_lines": [ 21.633713, 21.477703, 21.518748, 21.463264 ] }, { "date": "2026-05-15", "close": 21.397334, "volume": 144161, "typical_volume": 263269.5, "trend": 21.381696, "fair_value": 19.539034, "relative_strength": -8.293606, "stage": 3, "regime": "deceleration", "modifier": "Re-acceleration watch", "gate": "up", "direction": 31.481132, "energy": 19.42543, "activity_lines": [ 21.560771, 21.472706, 21.508867, 21.465173 ] }, { "date": "2026-05-22", "close": 21.347803, "volume": 262956, "typical_volume": 262553.9, "trend": 21.389521, "fair_value": 19.564575, "relative_strength": -9.015565, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 22.759077, "energy": 10.156616, "activity_lines": [ 21.481332, 21.465142, 21.492599, 21.462986 ] }, { "date": "2026-05-29", "close": 21.783674, "volume": 134033, "typical_volume": 255936.7, "trend": 21.409641, "fair_value": 19.591141, "relative_strength": -8.226825, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 51.794417, "energy": 23.300807, "activity_lines": [ 21.569041, 21.540239, 21.517398, 21.488415 ] }, { "date": "2026-06-05", "close": 21.588169, "volume": 173840, "typical_volume": 239463.75, "trend": 21.427585, "fair_value": 19.615203, "relative_strength": -6.51474, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 40.850086, "energy": 17.029889, "activity_lines": [ 21.578499, 21.567609, 21.521983, 21.499933 ] }, { "date": "2026-06-12", "close": 21.845953, "volume": 174970, "typical_volume": 234841.2, "trend": 21.451206, "fair_value": 19.641298, "relative_strength": -5.726343, "stage": 3, "regime": "deceleration", "modifier": "Re-acceleration watch", "gate": "up", "direction": 54.328008, "energy": 30.623451, "activity_lines": [ 21.668427, 21.624486, 21.551101, 21.526925 ] }, { "date": "2026-06-19", "close": 21.976338, "volume": 166276, "typical_volume": 217122.0, "trend": 21.485296, "fair_value": 19.667521, "relative_strength": -5.828554, "stage": 3, "regime": "deceleration", "modifier": "Re-acceleration watch", "gate": "up", "direction": 60.077137, "energy": 52.51319, "activity_lines": [ 21.796344, 21.692117, 21.590051, 21.560804 ] }, { "date": "2026-06-26", "close": 22.065915, "volume": 250901, "typical_volume": 218594.85, "trend": 21.517016, "fair_value": 19.693937, "relative_strength": -3.02884, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 64.875482, "energy": 59.98842, "activity_lines": [ 21.91552, 21.768237, 21.635389, 21.598264 ] }, { "date": "2026-07-03", "close": 22.119146, "volume": 307472, "typical_volume": 220479.2, "trend": 21.544387, "fair_value": 19.721429, "relative_strength": -4.713205, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 69.446714, "energy": 68.539194, "activity_lines": [ 22.004565, 21.84694, 21.683904, 21.637111 ] }, { "date": "2026-07-10", "close": 21.969894, "volume": 239223, "typical_volume": 222764.5, "trend": 21.572404, "fair_value": 19.746546, "relative_strength": -6.467267, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 61.476246, "energy": 66.164712, "activity_lines": [ 22.021495, 21.888839, 21.717357, 21.664563 ] }, { "date": "2026-07-17", "close": 21.969894, "volume": 183461, "typical_volume": 224843.95, "trend": 21.602857, "fair_value": 19.771389, "relative_strength": -4.897255, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 58.499511, "energy": 57.47366, "activity_lines": [ 22.012977, 21.922309, 21.750676, 21.690207 ] }, { "date": "2026-07-24", "close": 21.472387, "volume": 317702, "typical_volume": 229068.95, "trend": 21.617048, "fair_value": 19.792553, "relative_strength": -6.398061, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 24.828322, "energy": 17.107678, "activity_lines": [ 21.83036, 21.861577, 21.737035, 21.68179 ] }, { "date": "2026-07-31", "close": 21.432587, "volume": 184432, "typical_volume": 232703.7, "trend": 21.622988, "fair_value": 19.816055, "relative_strength": -7.392638, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 10.915925, "energy": 13.550105, "activity_lines": [ 21.668073, 21.792244, 21.720933, 21.669889 ] }, { "date": "2026-08-07", "close": 21.715, "volume": 278130, "typical_volume": 237678.55, "trend": 21.631867, "fair_value": 19.841641, "relative_strength": -9.176444, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 21.074951, "energy": 20.731328, "activity_lines": [ 21.642146, 21.772718, 21.732216, 21.675825 ] } ], "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." } } }