{
  "ticker": {
    "uuid": "253ce975-e069-4e04-aa20-a625488cc51e",
    "symbol": "MCI",
    "name": "Barings Corporate Investors",
    "exchange": "NYSE",
    "country": "US",
    "assetType": "etf"
  },
  "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": "SPY",
    "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": -59.963,
    "architecture_energy": 61.704,
    "architecture_maturity": 43.843,
    "architecture_confidence": 85.28,
    "architecture_tenure": "Established",
    "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": 15.76,
        "rotation_up": 12.25,
        "upward_expansion": 12.96,
        "deceleration": 38.77,
        "rotation_down": 68.75,
        "downward_expansion": 88.63
      },
      "activity_lines": [
        16.7272,
        16.987418,
        17.148628,
        17.477459
      ],
      "activity_state": "Moderate",
      "activity_direction": "Expanding",
      "rotation_direction": "Weakening",
      "price_acceptance": -0.833333
    },
    "latest_close": 16.77,
    "trend_reference": 18.091417,
    "distance_from_trend": -0.073041,
    "trend_direction": "Weakening",
    "fair_value": 17.09122,
    "distance_from_fair_value": -0.018794,
    "fair_value_direction": "Weakening",
    "relative_strength": -20.349203,
    "relative_strength_direction": "Improving",
    "price_momentum": -0.163405,
    "excess_performance": -0.289029,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.073041,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.038562,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.018794,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.030743,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.203492,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.018512,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.163405,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.322115,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 168195,
      "relative_activity": 0.850592,
      "balance": 1.322115,
      "dry_up": 0.724023,
      "accumulation_observations": 3,
      "distribution_observations": 0
    },
    "risk": {
      "range_context": 0.045047,
      "annualized_volatility": 0.220778,
      "from_high_reference": -0.224076,
      "from_low_reference": 0.034823
    },
    "levels": {
      "trend_reference": 18.091417,
      "fair_value_reference": 17.09122,
      "structural_low": 16.205672,
      "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": 12,
        "median_return": -0.015929,
        "positive_rate": 0.416667,
        "directional_follow_through": 0.583333,
        "median_excess_return": -0.007901,
        "regime_survival": 0.75,
        "best_return": 0.069767,
        "worst_return": -0.077129,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 5,
        "median_return": 0.011144,
        "positive_rate": 0.6,
        "directional_follow_through": 0.4,
        "median_excess_return": -0.054127,
        "regime_survival": 0.8,
        "best_return": 0.065332,
        "worst_return": -0.086618,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 3,
        "median_return": -0.056642,
        "positive_rate": 0.333333,
        "directional_follow_through": 0.666667,
        "median_excess_return": -0.097818,
        "regime_survival": 0.666667,
        "best_return": 0.065332,
        "worst_return": -0.076439,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 1,
        "median_return": 0.00499,
        "positive_rate": 1.0,
        "directional_follow_through": 0.0,
        "median_excess_return": 0.046767,
        "regime_survival": 0.0,
        "best_return": 0.00499,
        "worst_return": 0.00499,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-04-05",
        "end": "2024-06-28",
        "tenure": "Established",
        "return": 0.114045,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-07-05",
        "end": "2025-04-18",
        "tenure": "Extended",
        "return": 0.199961,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-04-25",
        "end": "2025-07-11",
        "tenure": "Developing",
        "return": 0.063073,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
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        "end": "2025-08-01",
        "tenure": "New",
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        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "end": "2025-09-12",
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        "active": false
      },
      {
        "regime": "upward_expansion",
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        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
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        "end": "2025-10-17",
        "tenure": "New",
        "return": 0.01631,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "end": "2025-12-12",
        "tenure": "Developing",
        "return": 0.013319,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
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        "end": "2026-01-02",
        "tenure": "New",
        "return": -0.022309,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2026-01-09",
        "end": "2026-01-23",
        "tenure": "New",
        "return": 0.082988,
        "active": false
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      {
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        "active": false
      },
      {
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      {
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      {
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        "active": true
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      },
      {
        "date": "2026-07-24",
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        "typical_volume": 195223.3,
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        "stage": 4,
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      },
      {
        "date": "2026-07-31",
        "close": 16.532,
        "volume": 110742,
        "typical_volume": 194859.5,
        "trend": 18.161143,
        "fair_value": 17.058555,
        "relative_strength": -19.184647,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -68.830269,
        "energy": 62.836465,
        "activity_lines": [
          16.79,
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      },
      {
        "date": "2026-08-07",
        "close": 16.77,
        "volume": 168195,
        "typical_volume": 197738.85,
        "trend": 18.091417,
        "fair_value": 17.09122,
        "relative_strength": -20.349203,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -59.963163,
        "energy": 61.703961,
        "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."
    }
  }
}