{
  "ticker": {
    "uuid": "5a3b4acc-6261-473f-8de9-0be14596ad66",
    "symbol": "TFF",
    "name": "TFF Group",
    "exchange": "PAR",
    "country": "FR",
    "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": "^FCHI",
    "stage": 4,
    "stage_name": "Declining",
    "phase": "4a",
    "phase_label": "Stage 4A \u00b7 Breakdown",
    "transition": "stage_4_declining",
    "transition_label": "Stage 4 decline intact",
    "confidence": 96.0,
    "architecture_regime": "downward_expansion",
    "architecture_regime_label": "Downward Expansion",
    "architecture_modifier": "Early contraction",
    "architecture_gate": "down",
    "architecture_direction": -68.821,
    "architecture_energy": 75.591,
    "architecture_maturity": 14.825,
    "architecture_confidence": 79.827,
    "architecture_tenure": "New",
    "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": 14.05,
        "rotation_up": 9.08,
        "upward_expansion": 16.88,
        "deceleration": 37.29,
        "rotation_down": 79.63,
        "downward_expansion": 94.88
      },
      "activity_lines": [
        15.190667,
        15.602909,
        16.046333,
        16.226624
      ],
      "activity_state": "Moderate",
      "activity_direction": "Expanding",
      "rotation_direction": "Weakening",
      "price_acceptance": -1.0
    },
    "latest_close": 15.1,
    "trend_reference": 16.508333,
    "distance_from_trend": -0.08531,
    "trend_direction": "Weakening",
    "fair_value": 27.868308,
    "distance_from_fair_value": -0.458166,
    "fair_value_direction": "Weakening",
    "relative_strength": -16.717152,
    "relative_strength_direction": "Weakening",
    "price_momentum": -0.116959,
    "excess_performance": -0.17027,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.08531,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.04244,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.458166,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.012533,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.167172,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.060669,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.116959,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.03325,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 4383,
      "relative_activity": 0.420567,
      "balance": 1.03325,
      "dry_up": 0.617633,
      "accumulation_observations": 1,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.049822,
      "annualized_volatility": 0.249056,
      "from_high_reference": -0.245,
      "from_low_reference": 0.030717
    },
    "levels": {
      "trend_reference": 16.508333,
      "fair_value_reference": 27.868308,
      "structural_low": 14.65,
      "invalidation": "Reclaiming a flat-to-rising Trend with improving relative strength is required before the declining diagnosis is repaired."
    },
    "outcomes": [
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        "horizon": "Near term",
        "sample_count": 25,
        "median_return": -0.011834,
        "positive_rate": 0.36,
        "directional_follow_through": 0.56,
        "median_excess_return": -0.013468,
        "regime_survival": 0.84,
        "best_return": 0.116766,
        "worst_return": -0.240506,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 9,
        "median_return": -0.091912,
        "positive_rate": 0.222222,
        "directional_follow_through": 0.666667,
        "median_excess_return": -0.093434,
        "regime_survival": 0.666667,
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        "worst_return": -0.294606,
        "sufficient": true
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        "horizon": "Extended",
        "sample_count": 4,
        "median_return": -0.192195,
        "positive_rate": 0.25,
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        "median_excess_return": -0.225621,
        "regime_survival": 0.5,
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        "worst_return": -0.303231,
        "sufficient": false
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      {
        "horizon": "Full cycle",
        "sample_count": 3,
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        "positive_rate": 0.333333,
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        "best_return": 0.192097,
        "worst_return": -0.420961,
        "sufficient": false
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        "color": "amber",
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        "end": "2023-05-05",
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        "return": 0.045,
        "active": false
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        "regime": "upward_expansion",
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        "active": false
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      {
        "regime": "rotation_down",
        "label": "Rotation Down",
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        "end": "2023-06-30",
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        "regime": "upward_expansion",
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      },
      {
        "date": "2026-04-24",
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        "typical_volume": 24591.45,
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        "relative_strength": -14.274123,
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        "modifier": "Early contraction",
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      },
      {
        "date": "2026-05-01",
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      },
      {
        "date": "2026-05-08",
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        "typical_volume": 22905.5,
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      },
      {
        "date": "2026-05-15",
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        "typical_volume": 23892.25,
        "trend": 17.341622,
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        "relative_strength": -5.267142,
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        "modifier": "Early contraction",
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        "energy": 18.174508,
        "activity_lines": [
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      },
      {
        "date": "2026-05-22",
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        "gate": "down",
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        "activity_lines": [
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      },
      {
        "date": "2026-05-29",
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        "typical_volume": 20086.2,
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        "relative_strength": -8.187925,
        "stage": 4,
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        "modifier": "Established contraction",
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      },
      {
        "date": "2026-06-05",
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        "relative_strength": -2.925879,
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        "regime": "balance",
        "modifier": "Balance after decline",
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      },
      {
        "date": "2026-06-12",
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        "volume": 6389,
        "typical_volume": 16545.15,
        "trend": 17.176667,
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        "relative_strength": -5.244588,
        "stage": 1,
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      },
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        "energy": 13.857591,
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      },
      {
        "date": "2026-06-26",
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        "typical_volume": 15059.65,
        "trend": 17.1,
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        "relative_strength": -5.731573,
        "stage": 1,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -6.985372,
        "energy": 15.908798,
        "activity_lines": [
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      },
      {
        "date": "2026-07-03",
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        "typical_volume": 13948.05,
        "trend": 17.013333,
        "fair_value": 28.670277,
        "relative_strength": -12.765629,
        "stage": 1,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
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        "energy": 21.93518,
        "activity_lines": [
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      },
      {
        "date": "2026-07-10",
        "close": 15.44,
        "volume": 8720,
        "typical_volume": 13654.25,
        "trend": 16.911333,
        "fair_value": 28.507913,
        "relative_strength": -12.562846,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -57.655356,
        "energy": 46.694784,
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          16.14,
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      },
      {
        "date": "2026-07-17",
        "close": 15.16,
        "volume": 5144,
        "typical_volume": 13227.8,
        "trend": 16.808333,
        "fair_value": 28.336529,
        "relative_strength": -13.797676,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -73.563932,
        "energy": 73.167454,
        "activity_lines": [
          15.710667,
          16.239636,
          16.359905,
          16.519742
        ]
      },
      {
        "date": "2026-07-24",
        "close": 15.4,
        "volume": 3712,
        "typical_volume": 11987.25,
        "trend": 16.735,
        "fair_value": 28.172705,
        "relative_strength": -12.416946,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -65.410044,
        "energy": 73.838593,
        "activity_lines": [
          15.504,
          16.035636,
          16.264667,
          16.428882
        ]
      },
      {
        "date": "2026-07-31",
        "close": 15.1,
        "volume": 12508,
        "typical_volume": 10790.35,
        "trend": 16.6,
        "fair_value": 28.018399,
        "relative_strength": -15.084185,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -70.3858,
        "energy": 77.942223,
        "activity_lines": [
          15.284,
          15.806545,
          16.151572,
          16.323398
        ]
      },
      {
        "date": "2026-08-07",
        "close": 15.1,
        "volume": 4383,
        "typical_volume": 10421.65,
        "trend": 16.508333,
        "fair_value": 27.868308,
        "relative_strength": -16.717152,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -68.821409,
        "energy": 75.590509,
        "activity_lines": [
          15.190667,
          15.602909,
          16.046333,
          16.226624
        ]
      }
    ],
    "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."
    }
  }
}