{
  "ticker": {
    "uuid": "66f9a9d7-49ac-40eb-bc93-472bbbeba0de",
    "symbol": "IBEX",
    "name": "IBEX Ltd",
    "exchange": "NASDAQ",
    "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": "QQQ",
    "stage": 1,
    "stage_name": "Basing",
    "phase": "1b",
    "phase_label": "Stage 1B \u00b7 Basing",
    "transition": "stage_1_building",
    "transition_label": "Base still building",
    "confidence": 68.589,
    "architecture_regime": "rotation_up",
    "architecture_regime_label": "Rotation Up",
    "architecture_modifier": "Value reclamation",
    "architecture_gate": "up",
    "architecture_direction": 78.975,
    "architecture_energy": 79.238,
    "architecture_maturity": 20.423,
    "architecture_confidence": 64.671,
    "architecture_tenure": "New",
    "architecture": {
      "interpretation": {
        "headline": "The Activity Line structure is rotating upward.",
        "body": "Fast Activity is improving relative to Slow Activity and price acceptance is strengthening. This is earlier than full positive Trend confirmation and remains a developing repair."
      },
      "scores": {
        "balance": 18.61,
        "rotation_up": 78.72,
        "upward_expansion": 92.93,
        "deceleration": 41.94,
        "rotation_down": 9.23,
        "downward_expansion": 17.27
      },
      "activity_lines": [
        35.457333,
        33.962182,
        32.455667,
        31.64914
      ],
      "activity_state": "Wide",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 0.833333
    },
    "latest_close": 37.25,
    "trend_reference": 31.56,
    "distance_from_trend": 0.180292,
    "trend_direction": "Weakening",
    "fair_value": 24.437564,
    "distance_from_fair_value": 0.524293,
    "fair_value_direction": "Improving",
    "relative_strength": -3.043587,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.064894,
    "excess_performance": -0.122559,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.180292,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.04072,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.524293,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.145724,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.030436,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.143702,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.064894,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.875042,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 546548,
      "relative_activity": 1.007471,
      "balance": 0.875042,
      "dry_up": 0.859012,
      "accumulation_observations": 1,
      "distribution_observations": 3
    },
    "risk": {
      "range_context": 0.073733,
      "annualized_volatility": 0.429202,
      "from_high_reference": -0.133519,
      "from_low_reference": 0.436006
    },
    "levels": {
      "trend_reference": 31.56,
      "fair_value_reference": 24.437564,
      "structural_low": 25.94,
      "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": 4,
        "median_return": -0.013686,
        "positive_rate": 0.25,
        "directional_follow_through": 0.25,
        "median_excess_return": 0.004516,
        "regime_survival": 0.25,
        "best_return": 0.184131,
        "worst_return": -0.058855,
        "sufficient": false
      },
      {
        "horizon": "Intermediate",
        "sample_count": 3,
        "median_return": 0.003049,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.666667,
        "median_excess_return": 0.077355,
        "regime_survival": 0.0,
        "best_return": 0.119277,
        "worst_return": -0.197432,
        "sufficient": false
      },
      {
        "horizon": "Extended",
        "sample_count": 3,
        "median_return": -0.018902,
        "positive_rate": 0.333333,
        "directional_follow_through": 0.333333,
        "median_excess_return": 0.155407,
        "regime_survival": 0.0,
        "best_return": 0.333133,
        "worst_return": -0.133761,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 2,
        "median_return": 0.3465,
        "positive_rate": 1.0,
        "directional_follow_through": 1.0,
        "median_excess_return": 0.270827,
        "regime_survival": 0.0,
        "best_return": 0.607927,
        "worst_return": 0.085072,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-09-06",
        "end": "2024-10-25",
        "tenure": "Developing",
        "return": 0.0625,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-11-01",
        "end": "2024-11-22",
        "tenure": "New",
        "return": 0.136238,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-11-29",
        "end": "2025-03-28",
        "tenure": "Established",
        "return": 0.19122,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-04-04",
        "end": "2025-05-09",
        "tenure": "Developing",
        "return": 0.308912,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-05-16",
        "end": "2025-08-08",
        "tenure": "Established",
        "return": -0.009444,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-08-15",
        "end": "2025-08-29",
        "tenure": "New",
        "return": 0.026773,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-09-05",
        "end": "2025-10-31",
        "tenure": "Developing",
        "return": 0.27282,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-11-07",
        "end": "2025-12-19",
        "tenure": "Developing",
        "return": 0.031479,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-12-26",
        "end": "2026-01-30",
        "tenure": "Developing",
        "return": -0.033013,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2026-02-06",
        "end": "2026-02-13",
        "tenure": "New",
        "return": -0.139508,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2026-02-20",
        "end": "2026-03-06",
        "tenure": "New",
        "return": 0.032826,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2026-03-13",
        "end": "2026-05-22",
        "tenure": "Developing",
        "return": 0.118798,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2026-05-29",
        "end": "2026-07-17",
        "tenure": "Developing",
        "return": 0.118521,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2026-07-24",
        "end": "2026-08-07",
        "tenure": "New",
        "return": 0.11327,
        "active": true
      }
    ],
    "chart_path": [
      {
        "date": "2023-08-18",
        "close": 18.99,
        "volume": 414420,
        "typical_volume": 389554.15,
        "trend": 22.780667,
        "fair_value": 19.329167,
        "relative_strength": -27.318352,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
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        "direction": -69.456334,
        "energy": 56.756829,
        "activity_lines": [
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      },
      {
        "date": "2023-08-25",
        "close": 18.77,
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      },
      {
        "date": "2023-09-01",
        "close": 19.62,
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      },
      {
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      },
      {
        "date": "2023-09-15",
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      },
      {
        "date": "2023-09-22",
        "close": 14.95,
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      },
      {
        "date": "2023-09-29",
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      },
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      },
      {
        "date": "2023-10-13",
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      },
      {
        "date": "2023-10-20",
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      },
      {
        "date": "2023-10-27",
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        "date": "2023-11-24",
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        "date": "2023-12-22",
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        "gate": "mixed",
        "direction": 31.884376,
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        ]
      },
      {
        "date": "2026-05-01",
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        "typical_volume": 606658.05,
        "trend": 33.603333,
        "fair_value": 23.365513,
        "relative_strength": -24.326404,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
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      },
      {
        "date": "2026-05-08",
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        "typical_volume": 613113.25,
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        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
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      },
      {
        "date": "2026-05-15",
        "close": 30.56,
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        "typical_volume": 632241.95,
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        "fair_value": 23.516538,
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        "stage": 4,
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        "energy": 20.933322,
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      },
      {
        "date": "2026-05-22",
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        "typical_volume": 639856.3,
        "trend": 33.090667,
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        "stage": 4,
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        "direction": -15.45123,
        "energy": 18.831543,
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      },
      {
        "date": "2026-05-29",
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        "typical_volume": 639144.35,
        "trend": 32.899667,
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        "relative_strength": -21.135893,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
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      },
      {
        "date": "2026-06-05",
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        "relative_strength": -21.459566,
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        "modifier": "Balance after decline",
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      },
      {
        "date": "2026-06-12",
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      },
      {
        "date": "2026-06-19",
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      },
      {
        "date": "2026-06-26",
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        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
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        "energy": 15.30176,
        "activity_lines": [
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      },
      {
        "date": "2026-07-03",
        "close": 32.13,
        "volume": 344258,
        "typical_volume": 575232.0,
        "trend": 32.029,
        "fair_value": 23.956923,
        "relative_strength": -15.447692,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
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      },
      {
        "date": "2026-07-10",
        "close": 33.09,
        "volume": 411012,
        "typical_volume": 570423.75,
        "trend": 31.875667,
        "fair_value": 24.037051,
        "relative_strength": -14.254386,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": 5.179114,
        "energy": 13.566624,
        "activity_lines": [
          31.704667,
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      },
      {
        "date": "2026-07-17",
        "close": 35.39,
        "volume": 458939,
        "typical_volume": 565049.85,
        "trend": 31.788333,
        "fair_value": 24.136538,
        "relative_strength": -4.241706,
        "stage": 1,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": 46.934886,
        "energy": 52.361263,
        "activity_lines": [
          33.072,
          32.082,
          31.03481,
          30.936129
        ]
      },
      {
        "date": "2026-07-24",
        "close": 33.46,
        "volume": 456412,
        "typical_volume": 548690.2,
        "trend": 31.621333,
        "fair_value": 24.226859,
        "relative_strength": -7.865485,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Structural repair",
        "gate": "mixed",
        "direction": 30.290493,
        "energy": 52.066935,
        "activity_lines": [
          33.498,
          32.420364,
          31.348429,
          31.043978
        ]
      },
      {
        "date": "2026-07-31",
        "close": 35.34,
        "volume": 402139,
        "typical_volume": 542027.55,
        "trend": 31.588667,
        "fair_value": 24.325064,
        "relative_strength": -3.258495,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "mixed",
        "direction": 41.186499,
        "energy": 59.412885,
        "activity_lines": [
          34.334667,
          33.047818,
          31.827095,
          31.283892
        ]
      },
      {
        "date": "2026-08-07",
        "close": 37.25,
        "volume": 546548,
        "typical_volume": 542494.8,
        "trend": 31.56,
        "fair_value": 24.437564,
        "relative_strength": -3.043587,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "up",
        "direction": 78.974943,
        "energy": 79.237953,
        "activity_lines": [
          35.457333,
          33.962182,
          32.455667,
          31.64914
        ]
      }
    ],
    "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."
    }
  }
}