{
  "ticker": {
    "uuid": "31536f9c-7f6a-4cb9-83de-0c6d866b9434",
    "symbol": "LUMI",
    "name": "Lundin Mining Corporation",
    "exchange": "STO",
    "country": "SE",
    "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": "^OMX",
    "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": 91.811,
    "architecture_regime": "balance",
    "architecture_regime_label": "Balance",
    "architecture_modifier": "Upper balance after advance",
    "architecture_gate": "mixed",
    "architecture_direction": 9.412,
    "architecture_energy": 6.568,
    "architecture_maturity": 21.648,
    "architecture_confidence": 57.785,
    "architecture_tenure": "Developing",
    "architecture": {
      "interpretation": {
        "headline": "Directional pressure has compressed into balance.",
        "body": "Trend and Activity are compressed into balance, so neither side has durable control. Prior structure and the next directional change provide context; balance alone is not assumed to be a base."
      },
      "scores": {
        "balance": 55.86,
        "rotation_up": 29.81,
        "upward_expansion": 32.83,
        "deceleration": 66.89,
        "rotation_down": 39.52,
        "downward_expansion": 25.5
      },
      "activity_lines": [
        244.500001,
        243.394546,
        248.462229,
        247.326921
      ],
      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": -0.333333
    },
    "latest_close": 255.0,
    "trend_reference": 244.296543,
    "distance_from_trend": 0.043813,
    "trend_direction": "Improving",
    "fair_value": 132.029518,
    "distance_from_fair_value": 0.931386,
    "fair_value_direction": "Weakening",
    "relative_strength": 12.051402,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.166669,
    "excess_performance": 0.105174,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.043813,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.092227,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.931386,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.154716,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.120514,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.251243,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.166669,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.285844,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 3497303,
      "relative_activity": 1.626679,
      "balance": 1.285844,
      "dry_up": 1.125145,
      "accumulation_observations": 4,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.092969,
      "annualized_volatility": 0.597639,
      "from_high_reference": -0.154957,
      "from_low_reference": 1.469852
    },
    "levels": {
      "trend_reference": 244.296543,
      "fair_value_reference": 132.029518,
      "structural_low": 191.5,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 11,
        "median_return": -0.00202,
        "positive_rate": 0.454545,
        "directional_follow_through": 0.454545,
        "median_excess_return": -0.010435,
        "regime_survival": 0.545455,
        "best_return": 0.28655,
        "worst_return": -0.144456,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 5,
        "median_return": 0.142039,
        "positive_rate": 0.8,
        "directional_follow_through": 0.8,
        "median_excess_return": 0.15083,
        "regime_survival": 0.0,
        "best_return": 0.2411,
        "worst_return": -0.141163,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 5,
        "median_return": 0.223481,
        "positive_rate": 0.8,
        "directional_follow_through": 0.8,
        "median_excess_return": 0.166632,
        "regime_survival": 0.0,
        "best_return": 0.942743,
        "worst_return": -0.237969,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 4,
        "median_return": 0.088037,
        "positive_rate": 0.75,
        "directional_follow_through": 0.75,
        "median_excess_return": 0.065916,
        "regime_survival": 0.5,
        "best_return": 1.0065,
        "worst_return": -0.160323,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "end": "2024-01-05",
        "tenure": "New",
        "return": -0.006061,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2024-01-12",
        "end": "2024-03-01",
        "tenure": "Developing",
        "return": 0.005501,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-03-08",
        "end": "2024-06-07",
        "tenure": "Established",
        "return": 0.349274,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "end": "2024-08-09",
        "tenure": "Developing",
        "return": -0.131177,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2024-08-16",
        "end": "2024-09-13",
        "tenure": "Developing",
        "return": -0.036471,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-09-20",
        "end": "2024-10-18",
        "tenure": "Developing",
        "return": 0.112354,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
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        "end": "2024-12-20",
        "tenure": "Developing",
        "return": -0.139802,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-12-27",
        "end": "2025-05-23",
        "tenure": "Established",
        "return": -0.092012,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "end": "2025-06-06",
        "tenure": "New",
        "return": 0.100436,
        "active": false
      },
      {
        "regime": "rotation_up",
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        "tenure": "Developing",
        "return": -0.00823,
        "active": false
      },
      {
        "regime": "upward_expansion",
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        "return": 1.244645,
        "active": false
      },
      {
        "regime": "deceleration",
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        "color": "amber",
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      },
      {
        "regime": "upward_expansion",
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      {
        "regime": "balance",
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        "return": 0.067839,
        "active": true
      }
    ],
    "chart_path": [
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      },
      {
        "date": "2026-07-03",
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      },
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      },
      {
        "date": "2026-07-17",
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        "fair_value": 129.009732,
        "relative_strength": 8.435662,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
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      },
      {
        "date": "2026-07-24",
        "close": 251.800003,
        "volume": 2249597,
        "typical_volume": 2302156.9,
        "trend": 241.714713,
        "fair_value": 130.030839,
        "relative_strength": 16.792106,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": -9.060084,
        "energy": 17.05236,
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      },
      {
        "date": "2026-07-31",
        "close": 236.300003,
        "volume": 2507510,
        "typical_volume": 2199953.3,
        "trend": 243.002254,
        "fair_value": 130.957358,
        "relative_strength": 6.958639,
        "stage": 2,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": -16.299805,
        "energy": 18.80291,
        "activity_lines": [
          238.940001,
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      },
      {
        "date": "2026-08-07",
        "close": 255.0,
        "volume": 3497303,
        "typical_volume": 2149965.7,
        "trend": 244.296543,
        "fair_value": 132.029518,
        "relative_strength": 12.051402,
        "stage": 2,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": 9.412002,
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        "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."
    }
  }
}