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Confidence measures geometric agreement and external confirmation only.", "analysis": { "eligible": true, "as_of": "2026-08-07", "benchmark": "^IBEX", "stage": 2, "stage_name": "Advancing", "phase": "2a", "phase_label": "Stage 2A \u00b7 Early advance", "transition": "stage_2_healthy", "transition_label": "Stage 2 trend intact", "confidence": 56.706, "architecture_regime": "upward_expansion", "architecture_regime_label": "Upward Expansion", "architecture_modifier": "Early expansion", "architecture_gate": "up", "architecture_direction": 82.728, "architecture_energy": 78.554, "architecture_maturity": 15.502, "architecture_confidence": 72.211, "architecture_tenure": "New", "architecture": { "interpretation": { "headline": "The weekly architecture is expanding upward.", "body": "Trend and Activity show sustained positive alignment with constructive price acceptance. Directional energy remains positive; cooling within this regime can indicate that it is maturing." }, "scores": { "balance": 14.44, "rotation_up": 74.88, "upward_expansion": 92.51, "deceleration": 43.8, "rotation_down": 13.58, "downward_expansion": 16.84 }, "activity_lines": [ 205.379335, 200.904184, 191.103503, 185.9126 ], "activity_state": "Wide", "activity_direction": "Expanding", "rotation_direction": "Improving", "price_acceptance": 0.833333 }, "latest_close": 214.5, "trend_reference": 183.525408, "distance_from_trend": 0.168775, "trend_direction": "Weakening", "fair_value": 157.946288, "distance_from_fair_value": 0.358057, "fair_value_direction": "Improving", "relative_strength": -2.860127, "relative_strength_direction": "Improving", "price_momentum": 0.146088, "excess_performance": 0.021657, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.168775, "read": "Above" }, { "label": "Trend direction", "positive": false, "value": -0.00523, "read": "Falling" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.358057, "read": "Premium" }, { "label": "Fair Value direction", "positive": true, "value": 0.180308, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.028601, "read": "Lagging" }, { "label": "Relative strength direction", "positive": true, "value": 0.093654, "read": "Improving" }, { "label": "Price momentum", "positive": true, "value": 0.146088, "read": "Positive" }, { "label": "Volume balance", "positive": true, "value": 1.331714, "read": "Demand-led" } ], "volume": { "latest": 33662, "relative_activity": 0.987255, "balance": 1.331714, "dry_up": 0.99351, "accumulation_observations": 2, "distribution_observations": 2 }, "risk": { "range_context": 0.052164, "annualized_volatility": 0.300057, "from_high_reference": -0.012338, "from_low_reference": 0.385747 }, "levels": { "trend_reference": 183.525408, "fair_value_reference": 157.946288, "structural_low": 154.790189, 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"stage": 3, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 37.590046, "energy": 63.829075, "activity_lines": [ 196.434002, 190.893092, 182.821481, 181.232674 ] }, { "date": "2026-07-24", "close": 205.550003, "volume": 32290, "typical_volume": 33224.8, "trend": 183.308831, "fair_value": 156.862615, "relative_strength": -4.545367, "stage": 3, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 49.952459, "energy": 68.11256, "activity_lines": [ 199.712669, 194.55182, 185.570806, 182.693835 ] }, { "date": "2026-07-31", "close": 202.100006, "volume": 44847, "typical_volume": 34038.75, "trend": 183.400316, "fair_value": 157.365313, "relative_strength": -6.834739, "stage": 3, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "up", "direction": 66.363082, "energy": 63.7376, "activity_lines": [ 200.822003, 196.895821, 187.834021, 183.906169 ] }, { "date": "2026-08-07", "close": 214.5, "volume": 33662, "typical_volume": 34096.55, "trend": 183.525408, "fair_value": 157.946288, "relative_strength": -2.860127, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 82.727522, "energy": 78.553813, "activity_lines": [ 205.379335, 200.904184, 191.103503, 185.9126 ] } ], "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." } } }