{
  "ticker": {
    "uuid": "14908927-421b-4a04-8419-650eddb31a5a",
    "symbol": "MIPF",
    "name": "Millionaire Property Fund",
    "exchange": "SET",
    "country": "TH",
    "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": "^SET.BK",
    "stage": 4,
    "stage_name": "Declining",
    "phase": "4b",
    "phase_label": "Stage 4B \u00b7 Declining",
    "transition": "stage_4_declining",
    "transition_label": "Stage 4 decline intact",
    "confidence": 78.769,
    "architecture_regime": "balance",
    "architecture_regime_label": "Balance",
    "architecture_modifier": "Balance after decline",
    "architecture_gate": "down",
    "architecture_direction": -31.633,
    "architecture_energy": 12.86,
    "architecture_maturity": 15.283,
    "architecture_confidence": 88.03,
    "architecture_tenure": "Developing",
    "architecture": {
      "interpretation": {
        "headline": "Directional pressure has compressed into balance.",
        "body": "Trend and Activity are compressed into balance, so neither side has durable control. Prior structure and the next directional change provide context; balance alone is not assumed to be a base."
      },
      "scores": {
        "balance": 63.26,
        "rotation_up": 30.34,
        "upward_expansion": 33.5,
        "deceleration": 27.31,
        "rotation_down": 34.46,
        "downward_expansion": 44.84
      },
      "activity_lines": [
        9.196667,
        9.199091,
        9.187381,
        9.200144
      ],
      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Improving",
      "price_acceptance": 0.333333
    },
    "latest_close": 9.05,
    "trend_reference": 9.215765,
    "distance_from_trend": -0.017987,
    "trend_direction": "Weakening",
    "fair_value": 9.767123,
    "distance_from_fair_value": -0.073422,
    "fair_value_direction": "Improving",
    "relative_strength": -16.473931,
    "relative_strength_direction": "Weakening",
    "price_momentum": -0.032473,
    "excess_performance": -0.224798,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.017987,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.015265,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.073422,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.00644,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.164739,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.025707,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.032473,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.443709,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 0,
      "relative_activity": 0.0,
      "balance": 0.443709,
      "dry_up": 0.918079,
      "accumulation_observations": 1,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.045049,
      "annualized_volatility": 0.152287,
      "from_high_reference": -0.257213,
      "from_low_reference": 0.150698
    },
    "levels": {
      "trend_reference": 9.215765,
      "fair_value_reference": 9.767123,
      "structural_low": 8.5,
      "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": 22,
        "median_return": -0.008332,
        "positive_rate": 0.409091,
        "directional_follow_through": 0.409091,
        "median_excess_return": -0.025812,
        "regime_survival": 0.681818,
        "best_return": 0.172043,
        "worst_return": -0.137931,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 8,
        "median_return": -0.010617,
        "positive_rate": 0.375,
        "directional_follow_through": 0.375,
        "median_excess_return": -0.025094,
        "regime_survival": 0.125,
        "best_return": 0.394479,
        "worst_return": -0.184209,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 5,
        "median_return": -0.00837,
        "positive_rate": 0.4,
        "directional_follow_through": 0.4,
        "median_excess_return": -0.025731,
        "regime_survival": 0.4,
        "best_return": 0.330076,
        "worst_return": -0.227367,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
        "median_return": -0.086261,
        "positive_rate": 0.333333,
        "directional_follow_through": 0.333333,
        "median_excess_return": 0.002006,
        "regime_survival": 0.333333,
        "best_return": 0.211961,
        "worst_return": -0.146424,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2024-12-20",
        "end": "2025-01-10",
        "tenure": "New",
        "return": -0.193548,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-01-17",
        "end": "2025-01-31",
        "tenure": "New",
        "return": -0.09,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-02-07",
        "end": "2025-03-07",
        "tenure": "Developing",
        "return": 0.214565,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-03-14",
        "end": "2025-03-21",
        "tenure": "New",
        "return": 0.072727,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-03-28",
        "end": "2025-05-09",
        "tenure": "Developing",
        "return": -0.183761,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-05-16",
        "end": "2025-05-23",
        "tenure": "New",
        "return": 0.0,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2025-05-30",
        "end": "2025-06-06",
        "tenure": "New",
        "return": 0.018868,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-06-13",
        "end": "2025-07-11",
        "tenure": "Developing",
        "return": -0.04,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-07-18",
        "end": "2025-08-29",
        "tenure": "Developing",
        "return": 0.026042,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-09-05",
        "end": "2025-11-21",
        "tenure": "Developing",
        "return": 0.157895,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-11-28",
        "end": "2025-12-19",
        "tenure": "New",
        "return": -0.100917,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-12-26",
        "end": "2026-06-12",
        "tenure": "Established",
        "return": -0.058682,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2026-06-19",
        "end": "2026-07-03",
        "tenure": "New",
        "return": 0.03352,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2026-07-10",
        "end": "2026-08-07",
        "tenure": "Developing",
        "return": -0.026882,
        "active": true
      }
    ],
    "chart_path": [
      {
        "date": "2023-08-18",
        "close": 10.459978,
        "volume": 100,
        "typical_volume": 25.0,
        "trend": 13.08368,
        "fair_value": 11.7058,
        "relative_strength": -10.84975,
        "stage": 4,
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        "modifier": "Structural failure",
        "gate": "mixed",
        "direction": -66.221999,
        "energy": 87.999947,
        "activity_lines": [
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      },
      {
        "date": "2023-08-25",
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      },
      {
        "date": "2023-09-01",
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      {
        "date": "2024-01-12",
        "close": 12.173228,
        "volume": 6900,
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        "trend": 11.450356,
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        "stage": 1,
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        "modifier": "Balance after decline",
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          9.303333,
          9.3,
          9.261636,
          9.286913
        ]
      },
      {
        "date": "2026-05-15",
        "close": 9.2,
        "volume": 300,
        "typical_volume": 3780.0,
        "trend": 9.346761,
        "fair_value": 10.081296,
        "relative_strength": -15.516043,
        "stage": 1,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "down",
        "direction": -31.939403,
        "energy": 13.314244,
        "activity_lines": [
          9.27,
          9.280909,
          9.258909,
          9.278042
        ]
      },
      {
        "date": "2026-05-22",
        "close": 9.05,
        "volume": 13600,
        "typical_volume": 4450.0,
        "trend": 9.351027,
        "fair_value": 10.054447,
        "relative_strength": -17.652845,
        "stage": 4,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "down",
        "direction": -46.857778,
        "energy": 25.181067,
        "activity_lines": [
          9.19,
          9.237273,
          9.242856,
          9.258896
        ]
      },
      {
        "date": "2026-05-29",
        "close": 9.15,
        "volume": 1000,
        "typical_volume": 4495.0,
        "trend": 9.358626,
        "fair_value": 10.028239,
        "relative_strength": -17.721302,
        "stage": 4,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "down",
        "direction": -43.660194,
        "energy": 29.510207,
        "activity_lines": [
          9.163333,
          9.216364,
          9.23389,
          9.245927
        ]
      },
      {
        "date": "2026-06-05",
        "close": 9.15,
        "volume": 0,
        "typical_volume": 4260.0,
        "trend": 9.321454,
        "fair_value": 10.002032,
        "relative_strength": -17.789625,
        "stage": 4,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "down",
        "direction": -45.775925,
        "energy": 33.747956,
        "activity_lines": [
          9.146667,
          9.198182,
          9.22521,
          9.232467
        ]
      },
      {
        "date": "2026-06-12",
        "close": 8.85,
        "volume": 200,
        "typical_volume": 4260.0,
        "trend": 9.271085,
        "fair_value": 9.973901,
        "relative_strength": -20.390653,
        "stage": 4,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "down",
        "direction": -65.117799,
        "energy": 51.100178,
        "activity_lines": [
          9.04,
          9.13,
          9.189613,
          9.20205
        ]
      },
      {
        "date": "2026-06-19",
        "close": 8.95,
        "volume": 0,
        "typical_volume": 4250.0,
        "trend": 9.217654,
        "fair_value": 9.946411,
        "relative_strength": -17.877169,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -57.372892,
        "energy": 48.1408,
        "activity_lines": [
          8.996667,
          9.086364,
          9.166624,
          9.181335
        ]
      },
      {
        "date": "2026-06-26",
        "close": 9.2,
        "volume": 0,
        "typical_volume": 4225.0,
        "trend": 9.175754,
        "fair_value": 9.920524,
        "relative_strength": -13.393884,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "mixed",
        "direction": -20.165768,
        "energy": 22.907534,
        "activity_lines": [
          9.053333,
          9.093636,
          9.16617,
          9.180196
        ]
      },
      {
        "date": "2026-07-03",
        "close": 9.25,
        "volume": 0,
        "typical_volume": 3670.0,
        "trend": 9.186686,
        "fair_value": 9.894957,
        "relative_strength": -16.135922,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -29.32927,
        "energy": 16.853626,
        "activity_lines": [
          9.116667,
          9.112727,
          9.171209,
          9.184986
        ]
      },
      {
        "date": "2026-07-10",
        "close": 9.3,
        "volume": 200,
        "typical_volume": 3615.0,
        "trend": 9.202483,
        "fair_value": 9.869711,
        "relative_strength": -15.698526,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -17.870802,
        "energy": 10.645805,
        "activity_lines": [
          9.19,
          9.141818,
          9.180591,
          9.192297
        ]
      },
      {
        "date": "2026-07-17",
        "close": 9.35,
        "volume": 100,
        "typical_volume": 1560.0,
        "trend": 9.200759,
        "fair_value": 9.844785,
        "relative_strength": -15.755055,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": 13.99159,
        "energy": 16.107666,
        "activity_lines": [
          9.27,
          9.18,
          9.194762,
          9.201814
        ]
      },
      {
        "date": "2026-07-24",
        "close": 9.5,
        "volume": 5400,
        "typical_volume": 1730.0,
        "trend": 9.204036,
        "fair_value": 9.820821,
        "relative_strength": -14.276583,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "up",
        "direction": 50.541751,
        "energy": 34.411829,
        "activity_lines": [
          9.366667,
          9.244545,
          9.220952,
          9.22112
        ]
      },
      {
        "date": "2026-07-31",
        "close": 9.05,
        "volume": 1000,
        "typical_volume": 1770.0,
        "trend": 9.221093,
        "fair_value": 9.793972,
        "relative_strength": -17.187667,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": 1.070726,
        "energy": 8.154559,
        "activity_lines": [
          9.276667,
          9.221818,
          9.203571,
          9.211182
        ]
      },
      {
        "date": "2026-08-07",
        "close": 9.05,
        "volume": 0,
        "typical_volume": 1770.0,
        "trend": 9.215765,
        "fair_value": 9.767123,
        "relative_strength": -16.473931,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -31.632631,
        "energy": 12.859942,
        "activity_lines": [
          9.196667,
          9.199091,
          9.187381,
          9.200144
        ]
      }
    ],
    "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."
    }
  }
}