{
  "ticker": {
    "uuid": "2bdb2fd1-4905-4b9c-a83d-617c4c243696",
    "symbol": "MRK",
    "name": "Merck & Co., Inc.",
    "exchange": "MEX",
    "country": "MX",
    "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": "^MXX",
    "stage": 2,
    "stage_name": "Advancing",
    "phase": "2b",
    "phase_label": "Stage 2B \u00b7 Advancing",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 96.0,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Re-accelerating",
    "architecture_gate": "up",
    "architecture_direction": 61.197,
    "architecture_energy": 54.306,
    "architecture_maturity": 16.526,
    "architecture_confidence": 83.702,
    "architecture_tenure": "Developing",
    "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": 19.59,
        "rotation_up": 65.57,
        "upward_expansion": 82.24,
        "deceleration": 52.6,
        "rotation_down": 13.51,
        "downward_expansion": 8.91
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      "activity_lines": [
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      "activity_state": "Moderate",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 0.666667
    },
    "latest_close": 2200.0,
    "trend_reference": 2082.190979,
    "distance_from_trend": 0.056579,
    "trend_direction": "Improving",
    "fair_value": 1934.554265,
    "distance_from_fair_value": 0.137213,
    "fair_value_direction": "Improving",
    "relative_strength": 12.928554,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.043082,
    "excess_performance": 0.097749,
    "evidence": [
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        "label": "Price vs Trend",
        "positive": true,
        "value": 0.056579,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.06118,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.137213,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.135367,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.129286,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.138799,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.043082,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.46048,
        "read": "Demand-led"
      }
    ],
    "volume": {
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      "relative_activity": 0.44312,
      "balance": 1.46048,
      "dry_up": 1.477213,
      "accumulation_observations": 3,
      "distribution_observations": 1
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    "risk": {
      "range_context": 0.049309,
      "annualized_volatility": 0.317928,
      "from_high_reference": -0.053356,
      "from_low_reference": 0.539817
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    "levels": {
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      "fair_value_reference": 1934.554265,
      "structural_low": 1909.233426,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
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        "sample_count": 29,
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      },
      {
        "date": "2026-07-24",
        "close": 2300.0,
        "volume": 28717,
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      },
      {
        "date": "2026-07-31",
        "close": 2263.120117,
        "volume": 2907,
        "typical_volume": 7840.95,
        "trend": 2075.603572,
        "fair_value": 1932.013449,
        "relative_strength": 16.714342,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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        "direction": 64.545007,
        "energy": 67.104219,
        "activity_lines": [
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      },
      {
        "date": "2026-08-07",
        "close": 2200.0,
        "volume": 3547,
        "typical_volume": 8004.6,
        "trend": 2082.190979,
        "fair_value": 1934.554265,
        "relative_strength": 12.928554,
        "stage": 2,
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        "modifier": "Re-accelerating",
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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."
    }
  }
}