{ "ticker": { "uuid": "3828b8af-59b0-486f-863b-3c7deb6ae725", "symbol": "VNO", "name": "Vornado Realty Trust", "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": 2, "stage_name": "Advancing", "phase": "2a", "phase_label": "Stage 2A \u00b7 Early advance", "transition": "stage_2_healthy", "transition_label": "Stage 2 trend intact", "confidence": 96.0, "architecture_regime": "upward_expansion", "architecture_regime_label": "Upward Expansion", "architecture_modifier": "Early expansion", "architecture_gate": "up", "architecture_direction": 61.676, "architecture_energy": 55.824, "architecture_maturity": 66.669, "architecture_confidence": 68.339, "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": 18.5, "rotation_up": 49.56, "upward_expansion": 81.12, "deceleration": 71.09, "rotation_down": 27.13, "downward_expansion": 10.12 }, "activity_lines": [ 39.55, 39.350364, 36.875524, 34.645398 ], "activity_state": "Wide", "activity_direction": "Contracting", "rotation_direction": "Weakening", "price_acceptance": 0.5 }, "latest_close": 39.5, "trend_reference": 32.551, "distance_from_trend": 0.21348, "trend_direction": "Improving", "fair_value": 32.341635, "distance_from_fair_value": 0.221336, "fair_value_direction": "Improving", "relative_strength": 2.57536, "relative_strength_direction": "Improving", "price_momentum": 0.263192, "excess_performance": 0.137567, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.21348, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.048741, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.221336, "read": "Premium" }, { "label": "Fair Value direction", "positive": true, "value": 0.17169, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": true, "value": 0.025754, "read": "Leading" }, { "label": "Relative strength direction", "positive": true, "value": 0.200922, "read": "Improving" }, { "label": "Price momentum", "positive": true, "value": 0.263192, "read": "Positive" }, { "label": "Volume balance", "positive": true, "value": 1.53029, "read": "Demand-led" } ], "volume": { "latest": 10269970, "relative_activity": 1.162406, "balance": 1.53029, "dry_up": 1.017119, "accumulation_observations": 2, "distribution_observations": 1 }, "risk": { "range_context": 0.066913, "annualized_volatility": 0.308182, "from_high_reference": -0.06915, "from_low_reference": 0.607652 }, "levels": { "trend_reference": 32.551, "fair_value_reference": 32.341635, "structural_low": 24.57, "invalidation": "A sustained 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39.685333, 38.782182, 35.666381, 33.721613 ] }, { "date": "2026-07-31", "close": 39.39, "volume": 8503340, "typical_volume": 9183315.3, "trend": 32.384667, "fair_value": 32.227109, "relative_strength": 5.627576, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 63.477568, "energy": 58.362879, "activity_lines": [ 39.608667, 39.123636, 36.297714, 34.186344 ] }, { "date": "2026-08-07", "close": 39.5, "volume": 10269970, "typical_volume": 8835094.95, "trend": 32.551, "fair_value": 32.341635, "relative_strength": 2.57536, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 61.676, "energy": 55.824431, "activity_lines": [ 39.55, 39.350364, 36.875524, 34.645398 ] } ], "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." } } }