{
  "ticker": {
    "uuid": "1b812f0f-5f18-4bae-a3e1-4127ef64a5a8",
    "symbol": "TPW",
    "name": "Temple & Webster Group Ltd",
    "exchange": "ASX",
    "country": "AU",
    "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": "^AXJO",
    "stage": 4,
    "stage_name": "Declining",
    "phase": "4b",
    "phase_label": "Stage 4B \u00b7 Declining",
    "transition": "stage_4_declining",
    "transition_label": "Stage 4 decline intact",
    "confidence": 96.0,
    "architecture_regime": "downward_expansion",
    "architecture_regime_label": "Downward Expansion",
    "architecture_modifier": "Established contraction",
    "architecture_gate": "down",
    "architecture_direction": -34.446,
    "architecture_energy": 26.12,
    "architecture_maturity": 100.0,
    "architecture_confidence": 62.185,
    "architecture_tenure": "Extended",
    "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": 51.49,
        "rotation_up": 28.05,
        "upward_expansion": 15.95,
        "deceleration": 63.86,
        "rotation_down": 35.32,
        "downward_expansion": 61.28
      },
      "activity_lines": [
        5.545333,
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        5.534524,
        5.956882
      ],
      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Improving",
      "price_acceptance": -0.166667
    },
    "latest_close": 6.05,
    "trend_reference": 7.021333,
    "distance_from_trend": -0.13834,
    "trend_direction": "Weakening",
    "fair_value": 12.581859,
    "distance_from_fair_value": -0.519149,
    "fair_value_direction": "Improving",
    "relative_strength": -54.117449,
    "relative_strength_direction": "Improving",
    "price_momentum": -0.454955,
    "excess_performance": -0.518661,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.13834,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.325002,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.519149,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.010489,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.541174,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.104956,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.454955,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.980753,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 4354278,
      "relative_activity": 0.941193,
      "balance": 0.980753,
      "dry_up": 0.79222,
      "accumulation_observations": 1,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.123077,
      "annualized_volatility": 0.840471,
      "from_high_reference": -0.79181,
      "from_low_reference": 0.335541
    },
    "levels": {
      "trend_reference": 7.021333,
      "fair_value_reference": 12.581859,
      "structural_low": 4.53,
      "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": -0.018171,
        "positive_rate": 0.454545,
        "directional_follow_through": 0.545455,
        "median_excess_return": -0.035799,
        "regime_survival": 0.863636,
        "best_return": 0.574405,
        "worst_return": -0.314414,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 7,
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        "positive_rate": 0.428571,
        "directional_follow_through": 0.571429,
        "median_excess_return": -0.268832,
        "regime_survival": 0.571429,
        "best_return": 0.655689,
        "worst_return": -0.474016,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 5,
        "median_return": 0.434211,
        "positive_rate": 0.6,
        "directional_follow_through": 0.4,
        "median_excess_return": 0.39171,
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        "worst_return": -0.628062,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
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        "positive_rate": 0.666667,
        "directional_follow_through": 0.333333,
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        "best_return": 2.604106,
        "worst_return": -0.433185,
        "sufficient": false
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      {
        "regime": "deceleration",
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        "active": false
      },
      {
        "regime": "downward_expansion",
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        "tenure": "Developing",
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      },
      {
        "regime": "balance",
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        "regime": "rotation_up",
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        "regime": "upward_expansion",
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        "regime": "upward_expansion",
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      },
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      {
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      },
      {
        "date": "2026-07-17",
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        "typical_volume": 4856155.8,
        "trend": 7.82,
        "fair_value": 12.605064,
        "relative_strength": -62.155132,
        "stage": 4,
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        "modifier": "Established contraction",
        "gate": "down",
        "direction": -51.056132,
        "energy": 35.57736,
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          5.63781,
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      },
      {
        "date": "2026-07-24",
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        "volume": 3258822,
        "typical_volume": 4765523.55,
        "trend": 7.521,
        "fair_value": 12.594551,
        "relative_strength": -62.789018,
        "stage": 4,
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        "modifier": "Established contraction",
        "gate": "down",
        "direction": -68.844855,
        "energy": 50.322395,
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          5.291333,
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          5.537333,
          6.161312
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      },
      {
        "date": "2026-07-31",
        "close": 5.55,
        "volume": 4117337,
        "typical_volume": 4706742.1,
        "trend": 7.247667,
        "fair_value": 12.586731,
        "relative_strength": -57.874414,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -53.7983,
        "energy": 40.837723,
        "activity_lines": [
          5.314667,
          5.412545,
          5.508667,
          6.034151
        ]
      },
      {
        "date": "2026-08-07",
        "close": 6.05,
        "volume": 4354278,
        "typical_volume": 4626338.75,
        "trend": 7.021333,
        "fair_value": 12.581859,
        "relative_strength": -54.117449,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -34.446485,
        "energy": 26.120097,
        "activity_lines": [
          5.545333,
          5.531455,
          5.534524,
          5.956882
        ]
      }
    ],
    "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."
    }
  }
}