{
  "ticker": {
    "uuid": "1329829b-0eaf-4d0c-b5aa-3731efa58061",
    "symbol": "SLM",
    "name": "SLM Corp",
    "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": 1,
    "stage_name": "Basing",
    "phase": "1c",
    "phase_label": "Stage 1C \u00b7 Breakout watch",
    "transition": "stage_1_to_2_watch",
    "transition_label": "Stage 1 \u2192 2 watch",
    "confidence": 56.533,
    "architecture_regime": "rotation_up",
    "architecture_regime_label": "Rotation Up",
    "architecture_modifier": "Value reclamation",
    "architecture_gate": "up",
    "architecture_direction": 80.691,
    "architecture_energy": 68.738,
    "architecture_maturity": 24.318,
    "architecture_confidence": 68.139,
    "architecture_tenure": "Developing",
    "architecture": {
      "interpretation": {
        "headline": "The Activity Line structure is rotating upward.",
        "body": "Fast Activity is improving relative to Slow Activity and price acceptance is strengthening. This is earlier than full positive Trend confirmation and remains a developing repair."
      },
      "scores": {
        "balance": 14.79,
        "rotation_up": 72.47,
        "upward_expansion": 88.78,
        "deceleration": 46.03,
        "rotation_down": 13.71,
        "downward_expansion": 13.11
      },
      "activity_lines": [
        25.956,
        25.366455,
        24.177245,
        23.471249
      ],
      "activity_state": "Wide",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 0.833333
    },
    "latest_close": 27.37,
    "trend_reference": 23.214986,
    "distance_from_trend": 0.17898,
    "trend_direction": "Weakening",
    "fair_value": 23.288942,
    "distance_from_fair_value": 0.175236,
    "fair_value_direction": "Improving",
    "relative_strength": -5.310787,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.015005,
    "excess_performance": -0.172449,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.17898,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.039038,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.175236,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.184212,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.053108,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.268231,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.015005,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.374214,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 11414925,
      "relative_activity": 0.798697,
      "balance": 1.374214,
      "dry_up": 0.987098,
      "accumulation_observations": 1,
      "distribution_observations": 3
    },
    "risk": {
      "range_context": 0.064201,
      "annualized_volatility": 0.43861,
      "from_high_reference": -0.157457,
      "from_low_reference": 0.559349
    },
    "levels": {
      "trend_reference": 23.214986,
      "fair_value_reference": 23.288942,
      "structural_low": 17.552196,
      "invalidation": "A renewed decline below the structural range low, widening the discount to current Fair Value while Trend falls, weakens the base diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 7,
        "median_return": 0.037736,
        "positive_rate": 0.714286,
        "directional_follow_through": 0.714286,
        "median_excess_return": 0.037855,
        "regime_survival": 0.428571,
        "best_return": 0.105575,
        "worst_return": -0.021108,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 4,
        "median_return": -0.105936,
        "positive_rate": 0.25,
        "directional_follow_through": 0.25,
        "median_excess_return": -0.105521,
        "regime_survival": 0.0,
        "best_return": 0.23309,
        "worst_return": -0.143426,
        "sufficient": false
      },
      {
        "horizon": "Extended",
        "sample_count": 4,
        "median_return": -0.073671,
        "positive_rate": 0.25,
        "directional_follow_through": 0.25,
        "median_excess_return": -0.09017,
        "regime_survival": 0.0,
        "best_return": 0.233027,
        "worst_return": -0.19083,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 2,
        "median_return": 0.093224,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": 0.075211,
        "regime_survival": 0.0,
        "best_return": 0.34641,
        "worst_return": -0.159963,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-01-05",
        "end": "2024-05-31",
        "tenure": "Established",
        "return": 0.157405,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-06-07",
        "end": "2024-07-19",
        "tenure": "Developing",
        "return": 0.11473,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-07-26",
        "end": "2025-03-21",
        "tenure": "Extended",
        "return": 0.325873,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-03-28",
        "end": "2025-05-16",
        "tenure": "Developing",
        "return": 0.165744,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-05-23",
        "end": "2025-06-20",
        "tenure": "Developing",
        "return": -0.055716,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-06-27",
        "end": "2025-07-04",
        "tenure": "New",
        "return": 0.027609,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-07-11",
        "end": "2025-08-01",
        "tenure": "New",
        "return": -0.06525,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-08-08",
        "end": "2025-09-12",
        "tenure": "Developing",
        "return": -0.114296,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2025-09-19",
        "end": "2025-10-17",
        "tenure": "Developing",
        "return": -0.096377,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-10-24",
        "end": "2025-12-12",
        "tenure": "Developing",
        "return": -0.022234,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-12-19",
        "end": "2026-02-13",
        "tenure": "Developing",
        "return": -0.121024,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2026-02-20",
        "end": "2026-06-19",
        "tenure": "Established",
        "return": 0.031672,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2026-06-26",
        "end": "2026-07-03",
        "tenure": "New",
        "return": 0.005894,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2026-07-10",
        "end": "2026-08-07",
        "tenure": "Developing",
        "return": 0.096554,
        "active": true
      }
    ],
    "chart_path": [
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        "date": "2023-08-18",
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      },
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      },
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      },
      {
        "date": "2026-07-10",
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      },
      {
        "date": "2026-07-17",
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        "stage": 1,
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        "direction": 40.496908,
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      },
      {
        "date": "2026-07-24",
        "close": 24.29,
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        "typical_volume": 15356106.85,
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        "fair_value": 23.131393,
        "relative_strength": -12.644955,
        "stage": 1,
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        "modifier": "Emerging rotation",
        "gate": "mixed",
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      },
      {
        "date": "2026-07-31",
        "close": 25.995,
        "volume": 14270028,
        "typical_volume": 14773864.35,
        "trend": 23.211706,
        "fair_value": 23.204349,
        "relative_strength": -6.241135,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "mixed",
        "direction": 45.422119,
        "energy": 48.844889,
        "activity_lines": [
          25.245,
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      },
      {
        "date": "2026-08-07",
        "close": 27.37,
        "volume": 11414925,
        "typical_volume": 14291932.75,
        "trend": 23.214986,
        "fair_value": 23.288942,
        "relative_strength": -5.310787,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "up",
        "direction": 80.69093,
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        "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."
    }
  }
}