{
  "ticker": {
    "uuid": "034d2993-069b-4a7c-a352-dfdccba4c824",
    "symbol": "MRTN",
    "name": "Marten Transport Ltd",
    "exchange": "NASDAQ",
    "country": "US",
    "assetType": "equity"
  },
  "methodBoundary": "Trend Architecture is a weekly structural classification, not a forecast, probability of return, recommendation or execution signal. Confidence measures geometric agreement and external confirmation only.",
  "analysis": {
    "eligible": true,
    "as_of": "2026-08-07",
    "benchmark": "QQQ",
    "stage": 2,
    "stage_name": "Advancing",
    "phase": "2b",
    "phase_label": "Stage 2B \u00b7 Advancing",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 86.48,
    "architecture_regime": "deceleration",
    "architecture_regime_label": "Deceleration",
    "architecture_modifier": "Recompressing",
    "architecture_gate": "up",
    "architecture_direction": -3.502,
    "architecture_energy": 19.475,
    "architecture_maturity": 59.537,
    "architecture_confidence": 92.496,
    "architecture_tenure": "New",
    "architecture": {
      "interpretation": {
        "headline": "The upward structure remains, but its energy is decelerating.",
        "body": "Trend remains positive, but Activity or price acceptance is losing strength. This can become a healthy recompression, a re-acceleration, or a Rotation Down."
      },
      "scores": {
        "balance": 53.76,
        "rotation_up": 19.39,
        "upward_expansion": 51.13,
        "deceleration": 82.3,
        "rotation_down": 42.09,
        "downward_expansion": 29.13
      },
      "activity_lines": [
        15.684,
        16.383163,
        16.404003,
        15.752611
      ],
      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.0
    },
    "latest_close": 14.95,
    "trend_reference": 14.850258,
    "distance_from_trend": 0.006716,
    "trend_direction": "Improving",
    "fair_value": 15.268883,
    "distance_from_fair_value": -0.020885,
    "fair_value_direction": "Weakening",
    "relative_strength": 0.188109,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.111992,
    "excess_performance": -0.075462,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.006716,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.154742,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.020885,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.01669,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.001881,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.056435,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.111992,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.462924,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 3971839,
      "relative_activity": 0.983393,
      "balance": 1.462924,
      "dry_up": 0.895777,
      "accumulation_observations": 3,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.075843,
      "annualized_volatility": 0.344577,
      "from_high_reference": -0.188225,
      "from_low_reference": 0.62092
    },
    "levels": {
      "trend_reference": 14.850258,
      "fair_value_reference": 15.268883,
      "structural_low": 11.322597,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 12,
        "median_return": 0.023718,
        "positive_rate": 0.833333,
        "directional_follow_through": 0.833333,
        "median_excess_return": 0.037072,
        "regime_survival": 0.583333,
        "best_return": 0.220854,
        "worst_return": -0.03471,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 5,
        "median_return": 0.095703,
        "positive_rate": 1.0,
        "directional_follow_through": 1.0,
        "median_excess_return": 0.115597,
        "regime_survival": 0.0,
        "best_return": 0.388191,
        "worst_return": 0.046413,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 3,
        "median_return": 0.000118,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.666667,
        "median_excess_return": -0.00891,
        "regime_survival": 0.0,
        "best_return": 0.05098,
        "worst_return": -0.00461,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 2,
        "median_return": 0.08487,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": 0.003716,
        "regime_survival": 0.0,
        "best_return": 0.250525,
        "worst_return": -0.080786,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
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        "end": "2023-10-13",
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        "return": -0.019787,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2023-10-20",
        "end": "2023-12-29",
        "tenure": "Developing",
        "return": 0.131363,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
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        "end": "2024-02-02",
        "tenure": "Developing",
        "return": -0.033668,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "end": "2024-03-15",
        "tenure": "Developing",
        "return": -0.050894,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-03-22",
        "end": "2024-06-28",
        "tenure": "Established",
        "return": 0.020609,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
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        "tenure": "Established",
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        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
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        "end": "2024-12-06",
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        "return": 0.04313,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
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        "tenure": "New",
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        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-01-03",
        "end": "2025-12-19",
        "tenure": "Extended",
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        "active": false
      },
      {
        "regime": "rotation_up",
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        "active": false
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      {
        "regime": "upward_expansion",
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        "regime": "deceleration",
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      {
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      {
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        "active": true
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      },
      {
        "date": "2026-04-17",
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      },
      {
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      },
      {
        "date": "2026-07-03",
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      },
      {
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      },
      {
        "date": "2026-07-17",
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        "volume": 2850039,
        "typical_volume": 4014306.4,
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        "fair_value": 15.392101,
        "relative_strength": 23.222103,
        "stage": 2,
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        "modifier": "Established expansion",
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        "direction": 67.784872,
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      },
      {
        "date": "2026-07-24",
        "close": 16.3,
        "volume": 3432545,
        "typical_volume": 4048664.55,
        "trend": 14.662016,
        "fair_value": 15.358851,
        "relative_strength": 15.51235,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
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      },
      {
        "date": "2026-07-31",
        "close": 14.79,
        "volume": 4217430,
        "typical_volume": 4081088.3,
        "trend": 14.776605,
        "fair_value": 15.312865,
        "relative_strength": 4.19574,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 16.270557,
        "energy": 17.40162,
        "activity_lines": [
          16.257333,
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        ]
      },
      {
        "date": "2026-08-07",
        "close": 14.95,
        "volume": 3971839,
        "typical_volume": 4038912.05,
        "trend": 14.850258,
        "fair_value": 15.268883,
        "relative_strength": 0.188109,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": -3.501893,
        "energy": 19.475353,
        "activity_lines": [
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      }
    ],
    "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."
    }
  }
}