{
  "ticker": {
    "uuid": "1ff60772-3a5a-48c2-9bda-c1ecf7adaf1c",
    "symbol": "MCHX",
    "name": "Marchex Inc",
    "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": 2,
    "stage_name": "Advancing",
    "phase": "2a",
    "phase_label": "Stage 2A \u00b7 Early advance",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 64.109,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Early expansion",
    "architecture_gate": "up",
    "architecture_direction": 55.821,
    "architecture_energy": 44.469,
    "architecture_maturity": 13.011,
    "architecture_confidence": 78.166,
    "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": 37.17,
        "rotation_up": 60.44,
        "upward_expansion": 83.77,
        "deceleration": 46.1,
        "rotation_down": 14.01,
        "downward_expansion": 8.1
      },
      "activity_lines": [
        1.774,
        1.725091,
        1.679831,
        1.644665
      ],
      "activity_state": "Moderate",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 0.833333
    },
    "latest_close": 1.8,
    "trend_reference": 1.61777,
    "distance_from_trend": 0.112643,
    "trend_direction": "Improving",
    "fair_value": 1.660166,
    "distance_from_fair_value": 0.084229,
    "fair_value_direction": "Improving",
    "relative_strength": -6.971605,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.090909,
    "excess_performance": -0.096545,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.112643,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.005899,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.084229,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.148664,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.069716,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.18562,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.090909,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.807579,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 133469,
      "relative_activity": 1.368878,
      "balance": 1.807579,
      "dry_up": 1.127586,
      "accumulation_observations": 4,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.141679,
      "annualized_volatility": 0.403972,
      "from_high_reference": -0.138756,
      "from_low_reference": 0.361573
    },
    "levels": {
      "trend_reference": 1.61777,
      "fair_value_reference": 1.660166,
      "structural_low": 1.34,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 13,
        "median_return": -0.035176,
        "positive_rate": 0.461538,
        "directional_follow_through": 0.461538,
        "median_excess_return": -0.030073,
        "regime_survival": 0.615385,
        "best_return": 0.246835,
        "worst_return": -0.30303,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 7,
        "median_return": 0.0,
        "positive_rate": 0.428571,
        "directional_follow_through": 0.428571,
        "median_excess_return": -0.075283,
        "regime_survival": 0.428571,
        "best_return": 0.279762,
        "worst_return": -0.380184,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 4,
        "median_return": 0.034877,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": -0.075108,
        "regime_survival": 0.25,
        "best_return": 0.220779,
        "worst_return": -0.235099,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
        "median_return": -0.210227,
        "positive_rate": 0.333333,
        "directional_follow_through": 0.333333,
        "median_excess_return": -0.190328,
        "regime_survival": 0.0,
        "best_return": 0.396104,
        "worst_return": -0.443709,
        "sufficient": false
      }
    ],
    "ledger": [
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        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2024-06-14",
        "end": "2024-06-21",
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        "return": -0.064516,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "tenure": "Established",
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        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "end": "2024-12-13",
        "tenure": "Developing",
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        "active": false
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      {
        "regime": "downward_expansion",
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        "color": "red",
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      {
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        "label": "Deceleration",
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        "end": "2025-11-07",
        "tenure": "Established",
        "return": -0.215962,
        "active": false
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      {
        "regime": "rotation_down",
        "label": "Rotation Down",
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        "return": -0.075949,
        "active": false
      },
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        "regime": "downward_expansion",
        "label": "Downward Expansion",
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        "end": "2026-01-23",
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        "return": 0.061769,
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      {
        "regime": "balance",
        "label": "Balance",
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        "return": 0.16,
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        "activity_lines": [
          1.650967,
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      },
      {
        "date": "2026-05-01",
        "close": 1.73,
        "volume": 68896,
        "typical_volume": 84986.45,
        "trend": 1.635283,
        "fair_value": 1.68991,
        "relative_strength": -14.33137,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Structural repair",
        "gate": "mixed",
        "direction": 23.601211,
        "energy": 29.156278,
        "activity_lines": [
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      },
      {
        "date": "2026-05-08",
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        "typical_volume": 82311.55,
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        "fair_value": 1.68882,
        "relative_strength": -25.533572,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Emerging rotation",
        "gate": "mixed",
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        "energy": 22.256435,
        "activity_lines": [
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      },
      {
        "date": "2026-05-15",
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        "typical_volume": 81546.65,
        "trend": 1.61595,
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        "relative_strength": -22.987241,
        "stage": 4,
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        "modifier": "Emerging rotation",
        "gate": "mixed",
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      },
      {
        "date": "2026-05-22",
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        "typical_volume": 87813.2,
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        "relative_strength": -20.604309,
        "stage": 4,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
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      },
      {
        "date": "2026-05-29",
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      },
      {
        "date": "2026-06-05",
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        "typical_volume": 91642.75,
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        "relative_strength": -25.777654,
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      },
      {
        "date": "2026-06-12",
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      },
      {
        "date": "2026-06-19",
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      },
      {
        "date": "2026-06-26",
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        "typical_volume": 91037.1,
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        "relative_strength": -20.381746,
        "stage": 4,
        "regime": "balance",
        "modifier": "Upper balance after advance",
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        "direction": -43.325463,
        "energy": 25.176098,
        "activity_lines": [
          1.539333,
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          1.580706,
          1.584124
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      },
      {
        "date": "2026-07-03",
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        "volume": 87255,
        "typical_volume": 86958.0,
        "trend": 1.603103,
        "fair_value": 1.665935,
        "relative_strength": -12.224829,
        "stage": 1,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "down",
        "direction": 4.001183,
        "energy": 3.014494,
        "activity_lines": [
          1.601333,
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          1.59791,
          1.593107
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      },
      {
        "date": "2026-07-10",
        "close": 1.73,
        "volume": 78213,
        "typical_volume": 87449.9,
        "trend": 1.606437,
        "fair_value": 1.663884,
        "relative_strength": -13.519607,
        "stage": 1,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": 20.218848,
        "energy": 17.309917,
        "activity_lines": [
          1.654667,
          1.622182,
          1.613303,
          1.601294
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      },
      {
        "date": "2026-07-17",
        "close": 1.8,
        "volume": 173883,
        "typical_volume": 92926.35,
        "trend": 1.610437,
        "fair_value": 1.663051,
        "relative_strength": -5.42798,
        "stage": 1,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "up",
        "direction": 56.347274,
        "energy": 44.377469,
        "activity_lines": [
          1.717333,
          1.656364,
          1.634269,
          1.613782
        ]
      },
      {
        "date": "2026-07-24",
        "close": 1.8,
        "volume": 60862,
        "typical_volume": 94514.9,
        "trend": 1.61477,
        "fair_value": 1.661961,
        "relative_strength": -3.239723,
        "stage": 2,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "up",
        "direction": 56.132193,
        "energy": 50.951351,
        "activity_lines": [
          1.763333,
          1.686545,
          1.653662,
          1.626011
        ]
      },
      {
        "date": "2026-07-31",
        "close": 1.72,
        "volume": 71556,
        "typical_volume": 95573.7,
        "trend": 1.616103,
        "fair_value": 1.660807,
        "relative_strength": -7.398181,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 52.050822,
        "energy": 48.858572,
        "activity_lines": [
          1.76,
          1.698909,
          1.663628,
          1.6328
        ]
      },
      {
        "date": "2026-08-07",
        "close": 1.8,
        "volume": 133469,
        "typical_volume": 97502.5,
        "trend": 1.61777,
        "fair_value": 1.660166,
        "relative_strength": -6.971605,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 55.82063,
        "energy": 44.468847,
        "activity_lines": [
          1.774,
          1.725091,
          1.679831,
          1.644665
        ]
      }
    ],
    "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."
    }
  }
}