{
  "ticker": {
    "uuid": "37e5ea7d-82c2-41b2-aada-2e04f75a0bd0",
    "symbol": "SKIL",
    "name": "Skillsoft Corp.",
    "exchange": "NYSE",
    "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": "SPY",
    "stage": 1,
    "stage_name": "Basing",
    "phase": "1b",
    "phase_label": "Stage 1B \u00b7 Basing",
    "transition": "stage_1_building",
    "transition_label": "Base still building",
    "confidence": 96.0,
    "architecture_regime": "balance",
    "architecture_regime_label": "Balance",
    "architecture_modifier": "Upper balance after advance",
    "architecture_gate": "up",
    "architecture_direction": 67.444,
    "architecture_energy": 47.054,
    "architecture_maturity": 38.0,
    "architecture_confidence": 75.304,
    "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": 39.17,
        "rotation_up": 55.86,
        "upward_expansion": 82.14,
        "deceleration": 48.23,
        "rotation_down": 21.76,
        "downward_expansion": 13.47
      },
      "activity_lines": [
        7.53,
        7.185818,
        7.048619,
        6.670194
      ],
      "activity_state": "Compressed",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 0.333333
    },
    "latest_close": 9.1,
    "trend_reference": 6.549667,
    "distance_from_trend": 0.389384,
    "trend_direction": "Weakening",
    "fair_value": 14.094397,
    "distance_from_fair_value": -0.354353,
    "fair_value_direction": "Improving",
    "relative_strength": -9.292483,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.165173,
    "excess_performance": 0.039548,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.389384,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.08796,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.354353,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.104718,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.092925,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.245674,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.165173,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.039965,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 290323,
      "relative_activity": 0.422815,
      "balance": 1.039965,
      "dry_up": 0.475268,
      "accumulation_observations": 1,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.177791,
      "annualized_volatility": 1.215588,
      "from_high_reference": -0.506775,
      "from_low_reference": 1.653061
    },
    "levels": {
      "trend_reference": 6.549667,
      "fair_value_reference": 14.094397,
      "structural_low": 3.43,
      "invalidation": "A renewed decline below the structural range low, widening the discount to current Fair Value while Trend falls, weakens the base diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 11,
        "median_return": 0.178808,
        "positive_rate": 0.727273,
        "directional_follow_through": 0.727273,
        "median_excess_return": 0.158418,
        "regime_survival": 0.454545,
        "best_return": 0.603682,
        "worst_return": -0.389744,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 5,
        "median_return": 0.282378,
        "positive_rate": 0.6,
        "directional_follow_through": 0.6,
        "median_excess_return": 0.273752,
        "regime_survival": 0.0,
        "best_return": 0.690398,
        "worst_return": -0.378531,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 4,
        "median_return": -0.158028,
        "positive_rate": 0.25,
        "directional_follow_through": 0.25,
        "median_excess_return": -0.231561,
        "regime_survival": 0.25,
        "best_return": 0.870155,
        "worst_return": -0.276684,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
        "median_return": -0.587049,
        "positive_rate": 0.333333,
        "directional_follow_through": 0.333333,
        "median_excess_return": -0.492189,
        "regime_survival": 0.0,
        "best_return": 0.352713,
        "worst_return": -0.632184,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2024-06-21",
        "end": "2024-07-05",
        "tenure": "New",
        "return": 0.276163,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2024-07-12",
        "end": "2024-08-02",
        "tenure": "New",
        "return": -0.037154,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-08-09",
        "end": "2024-08-16",
        "tenure": "New",
        "return": -0.00898,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-08-23",
        "end": "2024-09-27",
        "tenure": "Developing",
        "return": 0.344482,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-10-04",
        "end": "2024-11-22",
        "tenure": "Developing",
        "return": -0.052063,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "end": "2024-12-20",
        "tenure": "New",
        "return": 0.260614,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-12-27",
        "end": "2025-02-28",
        "tenure": "Developing",
        "return": 0.19704,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-03-07",
        "end": "2025-04-04",
        "tenure": "Developing",
        "return": -0.228653,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2025-04-11",
        "end": "2025-04-25",
        "tenure": "New",
        "return": 0.220012,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-05-02",
        "end": "2025-05-09",
        "tenure": "New",
        "return": 0.044822,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "end": "2025-06-06",
        "tenure": "New",
        "return": -0.222077,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-06-13",
        "end": "2026-05-22",
        "tenure": "Extended",
        "return": -0.541507,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
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        "end": "2026-06-05",
        "tenure": "New",
        "return": -0.032922,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
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        "tenure": "Developing",
        "return": 0.506623,
        "active": true
      }
    ],
    "chart_path": [
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        "date": "2023-08-18",
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        "typical_volume": 1180735.6,
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      },
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      },
      {
        "date": "2026-05-01",
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      },
      {
        "date": "2026-05-08",
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      },
      {
        "date": "2026-05-15",
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        "activity_lines": [
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      },
      {
        "date": "2026-05-22",
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      },
      {
        "date": "2026-05-29",
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      },
      {
        "date": "2026-06-05",
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        "relative_strength": -38.855274,
        "stage": 4,
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      },
      {
        "date": "2026-06-12",
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        "relative_strength": -46.706049,
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        "modifier": "Upper balance after advance",
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      },
      {
        "date": "2026-06-26",
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        "stage": 1,
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        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": -11.178855,
        "energy": 9.048798,
        "activity_lines": [
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      },
      {
        "date": "2026-07-03",
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        "fair_value": 14.739846,
        "relative_strength": -34.115478,
        "stage": 1,
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        "gate": "mixed",
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        "energy": 5.226049,
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      },
      {
        "date": "2026-07-10",
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        "volume": 504237,
        "typical_volume": 760404.25,
        "trend": 6.687,
        "fair_value": 14.611128,
        "relative_strength": -33.010163,
        "stage": 1,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": 8.345372,
        "energy": 7.144581,
        "activity_lines": [
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      },
      {
        "date": "2026-07-17",
        "close": 6.44,
        "volume": 468632,
        "typical_volume": 731467.75,
        "trend": 6.643667,
        "fair_value": 14.463949,
        "relative_strength": -37.000184,
        "stage": 1,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": 0.893678,
        "energy": 2.983198,
        "activity_lines": [
          6.783333,
          6.81,
          6.696143,
          6.494688
        ]
      },
      {
        "date": "2026-07-24",
        "close": 6.35,
        "volume": 235045,
        "typical_volume": 708123.15,
        "trend": 6.616333,
        "fair_value": 14.337987,
        "relative_strength": -36.200981,
        "stage": 4,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": -1.132145,
        "energy": 1.809736,
        "activity_lines": [
          6.612,
          6.72,
          6.713524,
          6.475742
        ]
      },
      {
        "date": "2026-07-31",
        "close": 7.1,
        "volume": 311360,
        "typical_volume": 700003.6,
        "trend": 6.569667,
        "fair_value": 14.210423,
        "relative_strength": -27.922025,
        "stage": 1,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": -2.599443,
        "energy": 3.028509,
        "activity_lines": [
          6.768,
          6.770364,
          6.793905,
          6.506946
        ]
      },
      {
        "date": "2026-08-07",
        "close": 9.1,
        "volume": 290323,
        "typical_volume": 686643.8,
        "trend": 6.549667,
        "fair_value": 14.094397,
        "relative_strength": -9.292483,
        "stage": 1,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "up",
        "direction": 67.44372,
        "energy": 47.053563,
        "activity_lines": [
          7.53,
          7.185818,
          7.048619,
          6.670194
        ]
      }
    ],
    "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."
    }
  }
}