{
  "ticker": {
    "uuid": "05ee2f8a-320d-4ea7-9776-d7eb92d8e433",
    "symbol": "TFPM",
    "name": "Triple Flag Precious Metals Corp.",
    "exchange": "TOR",
    "country": "CA",
    "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": "^GSPTSE",
    "stage": 4,
    "stage_name": "Declining",
    "phase": "4b",
    "phase_label": "Stage 4B \u00b7 Declining",
    "transition": "stage_4_declining",
    "transition_label": "Stage 4 decline intact",
    "confidence": 52.163,
    "architecture_regime": "downward_expansion",
    "architecture_regime_label": "Downward Expansion",
    "architecture_modifier": "Established contraction",
    "architecture_gate": "down",
    "architecture_direction": -28.435,
    "architecture_energy": 21.581,
    "architecture_maturity": 37.786,
    "architecture_confidence": 68.514,
    "architecture_tenure": "Developing",
    "architecture": {
      "interpretation": {
        "headline": "The weekly architecture is expanding downward.",
        "body": "Trend and Activity show sustained negative alignment with weak price acceptance. Repair requires persistent improvement across the structure, not merely one strong observation."
      },
      "scores": {
        "balance": 46.87,
        "rotation_up": 25.28,
        "upward_expansion": 11.49,
        "deceleration": 60.08,
        "rotation_down": 37.31,
        "downward_expansion": 68.15
      },
      "activity_lines": [
        41.835334,
        41.676364,
        42.429477,
        43.79286
      ],
      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Improving",
      "price_acceptance": -0.333333
    },
    "latest_close": 45.43,
    "trend_reference": 45.71168,
    "distance_from_trend": -0.006162,
    "trend_direction": "Weakening",
    "fair_value": 29.63742,
    "distance_from_fair_value": 0.532859,
    "fair_value_direction": "Weakening",
    "relative_strength": -8.453511,
    "relative_strength_direction": "Weakening",
    "price_momentum": -0.027306,
    "excess_performance": -0.147727,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.006162,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.026964,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.532859,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.116792,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.084535,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.065363,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.027306,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.898788,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 864600,
      "relative_activity": 1.159587,
      "balance": 0.898788,
      "dry_up": 1.070097,
      "accumulation_observations": 2,
      "distribution_observations": 4
    },
    "risk": {
      "range_context": 0.08058,
      "annualized_volatility": 0.525261,
      "from_high_reference": -0.206601,
      "from_low_reference": 0.329841
    },
    "levels": {
      "trend_reference": 45.71168,
      "fair_value_reference": 29.63742,
      "structural_low": 37.5,
      "invalidation": "Reclaiming a flat-to-rising Trend with improving relative strength is required before the declining diagnosis is repaired."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 9,
        "median_return": 0.010138,
        "positive_rate": 0.555556,
        "directional_follow_through": 0.444444,
        "median_excess_return": 0.004296,
        "regime_survival": 0.777778,
        "best_return": 0.141878,
        "worst_return": -0.104912,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 3,
        "median_return": 0.07019,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.333333,
        "median_excess_return": 0.090505,
        "regime_survival": 0.666667,
        "best_return": 0.302988,
        "worst_return": -0.053435,
        "sufficient": false
      },
      {
        "horizon": "Extended",
        "sample_count": 2,
        "median_return": 0.116978,
        "positive_rate": 1.0,
        "directional_follow_through": 0.0,
        "median_excess_return": 0.068906,
        "regime_survival": 0.5,
        "best_return": 0.220952,
        "worst_return": 0.013005,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 1,
        "median_return": 0.23683,
        "positive_rate": 1.0,
        "directional_follow_through": 0.0,
        "median_excess_return": 0.138411,
        "regime_survival": 0.0,
        "best_return": 0.23683,
        "worst_return": 0.23683,
        "sufficient": false
      }
    ],
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        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-01-26",
        "end": "2024-03-08",
        "tenure": "Developing",
        "return": 0.072487,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2024-03-15",
        "end": "2024-03-29",
        "tenure": "New",
        "return": 0.075866,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "end": "2024-06-14",
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        "active": false
      },
      {
        "regime": "deceleration",
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        "color": "amber",
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        "end": "2024-10-18",
        "tenure": "Established",
        "return": 0.199966,
        "active": false
      },
      {
        "regime": "upward_expansion",
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      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
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        "end": "2025-02-14",
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        "active": false
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        "regime": "upward_expansion",
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        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
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        "active": false
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        "active": false
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        "regime": "rotation_down",
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        "active": false
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        "volume": 710300,
        "typical_volume": 827465.0,
        "trend": 46.30412,
        "fair_value": 27.159419,
        "relative_strength": 7.258168,
        "stage": 2,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "up",
        "direction": 24.676222,
        "energy": 11.272755,
        "activity_lines": [
          48.607333,
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        ]
      },
      {
        "date": "2026-04-24",
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        "typical_volume": 845160.0,
        "trend": 46.515556,
        "fair_value": 27.319458,
        "relative_strength": 0.090283,
        "stage": 2,
        "regime": "balance",
        "modifier": "Upper balance after advance",
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        "energy": 7.485076,
        "activity_lines": [
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          48.03711
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      },
      {
        "date": "2026-05-01",
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        "typical_volume": 879785.0,
        "trend": 46.563492,
        "fair_value": 27.451671,
        "relative_strength": -7.174086,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": -23.10895,
        "energy": 18.998417,
        "activity_lines": [
          46.428666,
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        ]
      },
      {
        "date": "2026-05-08",
        "close": 45.560001,
        "volume": 930000,
        "typical_volume": 839810.0,
        "trend": 46.687145,
        "fair_value": 27.617954,
        "relative_strength": -1.917167,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": -10.780787,
        "energy": 25.007166,
        "activity_lines": [
          45.752667,
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      },
      {
        "date": "2026-05-15",
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        "volume": 1269000,
        "typical_volume": 892385.0,
        "trend": 46.714267,
        "fair_value": 27.778991,
        "relative_strength": -4.95504,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": -29.104988,
        "energy": 40.87414,
        "activity_lines": [
          44.840667,
          45.995091,
          47.511539,
          47.558001
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      },
      {
        "date": "2026-05-22",
        "close": 42.52,
        "volume": 853400,
        "typical_volume": 911950.0,
        "trend": 46.794741,
        "fair_value": 27.935613,
        "relative_strength": -9.92072,
        "stage": 3,
        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
        "direction": -36.221697,
        "energy": 50.687996,
        "activity_lines": [
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          45.286364,
          46.970346,
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      },
      {
        "date": "2026-05-29",
        "close": 44.34,
        "volume": 1595700,
        "typical_volume": 966515.0,
        "trend": 46.978415,
        "fair_value": 28.101549,
        "relative_strength": -7.042199,
        "stage": 3,
        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
        "direction": -29.245962,
        "energy": 40.121978,
        "activity_lines": [
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      },
      {
        "date": "2026-06-05",
        "close": 39.400002,
        "volume": 122200,
        "typical_volume": 936100.0,
        "trend": 46.961202,
        "fair_value": 28.23681,
        "relative_strength": -16.441045,
        "stage": 3,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -74.467646,
        "energy": 64.769433,
        "activity_lines": [
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          46.640103
        ]
      },
      {
        "date": "2026-06-12",
        "close": 40.779999,
        "volume": 297100,
        "typical_volume": 910935.0,
        "trend": 46.919209,
        "fair_value": 28.386191,
        "relative_strength": -14.675712,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -65.773243,
        "energy": 65.295349,
        "activity_lines": [
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      },
      {
        "date": "2026-06-19",
        "close": 41.849998,
        "volume": 336600,
        "typical_volume": 858725.0,
        "trend": 46.922518,
        "fair_value": 28.544912,
        "relative_strength": -12.421524,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
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        "energy": 64.875412,
        "activity_lines": [
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      },
      {
        "date": "2026-06-26",
        "close": 42.34,
        "volume": 341800,
        "typical_volume": 830430.0,
        "trend": 46.776009,
        "fair_value": 28.703238,
        "relative_strength": -11.464947,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -59.301942,
        "energy": 62.409753,
        "activity_lines": [
          41.638666,
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          44.338454,
          45.618623
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      },
      {
        "date": "2026-07-03",
        "close": 44.990002,
        "volume": 65700,
        "typical_volume": 801560.0,
        "trend": 46.770427,
        "fair_value": 28.883513,
        "relative_strength": -6.724333,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -43.392479,
        "energy": 31.088744,
        "activity_lines": [
          42.721334,
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          44.21849,
          45.503397
        ]
      },
      {
        "date": "2026-07-10",
        "close": 39.790001,
        "volume": 842000,
        "typical_volume": 818310.0,
        "trend": 46.509292,
        "fair_value": 29.023508,
        "relative_strength": -17.569331,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -67.555092,
        "energy": 38.326259,
        "activity_lines": [
          42.027334,
          42.083637,
          43.623295,
          45.053047
        ]
      },
      {
        "date": "2026-07-17",
        "close": 38.330002,
        "volume": 736300,
        "typical_volume": 809985.0,
        "trend": 46.201155,
        "fair_value": 29.154888,
        "relative_strength": -20.421758,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -71.461787,
        "energy": 44.895119,
        "activity_lines": [
          40.820668,
          41.315455,
          42.944429,
          44.525351
        ]
      },
      {
        "date": "2026-07-24",
        "close": 40.950001,
        "volume": 718400,
        "typical_volume": 800405.0,
        "trend": 45.978021,
        "fair_value": 29.306785,
        "relative_strength": -15.215672,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -54.326986,
        "energy": 39.248956,
        "activity_lines": [
          40.650668,
          41.155092,
          42.600762,
          44.186566
        ]
      },
      {
        "date": "2026-07-31",
        "close": 40.27,
        "volume": 872200,
        "typical_volume": 794745.0,
        "trend": 45.824426,
        "fair_value": 29.458976,
        "relative_strength": -16.25429,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -58.04552,
        "energy": 52.341676,
        "activity_lines": [
          40.314001,
          40.926182,
          42.248048,
          43.818307
        ]
      },
      {
        "date": "2026-08-07",
        "close": 45.43,
        "volume": 864600,
        "typical_volume": 745610.0,
        "trend": 45.71168,
        "fair_value": 29.63742,
        "relative_strength": -8.453511,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -28.434873,
        "energy": 21.580561,
        "activity_lines": [
          41.835334,
          41.676364,
          42.429477,
          43.79286
        ]
      }
    ],
    "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."
    }
  }
}