{
  "ticker": {
    "uuid": "6e4e0dba-7c6f-4c82-b700-903c34b43af4",
    "symbol": "IBC",
    "name": "Ironbark Balanced Income Limited",
    "exchange": "ASX",
    "country": "AU",
    "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": "^AXJO",
    "stage": 3,
    "stage_name": "Distribution",
    "phase": "3a",
    "phase_label": "Stage 3A \u00b7 Churning",
    "transition": "stage_3_churning",
    "transition_label": "Stage 3 range intact",
    "confidence": 55.433,
    "architecture_regime": "deceleration",
    "architecture_regime_label": "Deceleration",
    "architecture_modifier": "Re-acceleration watch",
    "architecture_gate": "up",
    "architecture_direction": 73.351,
    "architecture_energy": 61.391,
    "architecture_maturity": 16.385,
    "architecture_confidence": 73.563,
    "architecture_tenure": "Developing",
    "architecture": {
      "interpretation": {
        "headline": "The prior uptrend is attempting to re-accelerate.",
        "body": "Positive Trend survived a recompression and Fast Activity is strengthening again. Promotion requires renewed confirmation across the completed evidence set."
      },
      "scores": {
        "balance": 22.0,
        "rotation_up": 73.31,
        "upward_expansion": 89.76,
        "deceleration": 40.49,
        "rotation_down": 11.1,
        "downward_expansion": 11.76
      },
      "activity_lines": [
        0.434667,
        0.431545,
        0.430704,
        0.429216
      ],
      "activity_state": "Moderate",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 1.0
    },
    "latest_close": 0.44,
    "trend_reference": 0.427261,
    "distance_from_trend": 0.029816,
    "trend_direction": "Improving",
    "fair_value": 0.409393,
    "distance_from_fair_value": 0.074763,
    "fair_value_direction": "Improving",
    "relative_strength": -1.49989,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.044858,
    "excess_performance": -0.018848,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.029816,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.00926,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.074763,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.015588,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.014999,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.038331,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.044858,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.964301,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 33168,
      "relative_activity": 0.293121,
      "balance": 1.964301,
      "dry_up": 0.91641,
      "accumulation_observations": 1,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.01722,
      "annualized_volatility": 0.119709,
      "from_high_reference": -0.022222,
      "from_low_reference": 0.08867
    },
    "levels": {
      "trend_reference": 0.427261,
      "fair_value_reference": 0.409393,
      "structural_low": 0.409276,
      "invalidation": "A decisive breakout above range resistance with renewed RS leadership invalidates the distribution reading; a range-low break confirms deterioration."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 14,
        "median_return": 0.0,
        "positive_rate": 0.285714,
        "directional_follow_through": 0.285714,
        "median_excess_return": 0.006439,
        "regime_survival": 0.642857,
        "best_return": 0.02381,
        "worst_return": -0.021739,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 5,
        "median_return": 0.0,
        "positive_rate": 0.2,
        "directional_follow_through": 0.2,
        "median_excess_return": 0.018438,
        "regime_survival": 0.2,
        "best_return": 0.011493,
        "worst_return": -0.029536,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 4,
        "median_return": -0.017377,
        "positive_rate": 0.25,
        "directional_follow_through": 0.25,
        "median_excess_return": -0.023693,
        "regime_survival": 0.0,
        "best_return": 0.030445,
        "worst_return": -0.029536,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
        "median_return": 0.000798,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.666667,
        "median_excess_return": 0.012273,
        "regime_survival": 0.333333,
        "best_return": 0.008113,
        "worst_return": -0.053439,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2024-02-09",
        "end": "2024-03-01",
        "tenure": "New",
        "return": -0.032966,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-03-08",
        "end": "2024-03-29",
        "tenure": "New",
        "return": 0.045454,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2024-04-05",
        "end": "2024-04-19",
        "tenure": "New",
        "return": 0.0,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-04-26",
        "end": "2024-05-17",
        "tenure": "New",
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        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "tenure": "Developing",
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        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
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        "end": "2024-12-06",
        "tenure": "Established",
        "return": -0.014898,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-12-13",
        "end": "2025-03-07",
        "tenure": "Established",
        "return": -0.017272,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-03-14",
        "end": "2025-05-23",
        "tenure": "Developing",
        "return": -0.011362,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-05-30",
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        "tenure": "Established",
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        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "end": "2025-10-31",
        "tenure": "Developing",
        "return": -0.011237,
        "active": false
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      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "end": "2026-01-30",
        "tenure": "Established",
        "return": 0.011493,
        "active": false
      },
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        "regime": "balance",
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        "color": "blue",
        "start": "2026-02-06",
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        "return": 0.030446,
        "active": false
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      {
        "regime": "upward_expansion",
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        "return": -0.020979,
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      {
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        "active": true
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        "modifier": "Upper balance after advance",
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      },
      {
        "date": "2026-05-01",
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        "relative_strength": 3.65733,
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      },
      {
        "date": "2026-05-08",
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        "stage": 3,
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      },
      {
        "date": "2026-05-15",
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        "typical_volume": 196491.7,
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      },
      {
        "date": "2026-05-22",
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      },
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        "date": "2026-05-29",
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      },
      {
        "date": "2026-06-05",
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        "typical_volume": 141623.3,
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      },
      {
        "date": "2026-06-12",
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        "stage": 2,
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      },
      {
        "date": "2026-06-19",
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      },
      {
        "date": "2026-06-26",
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        "typical_volume": 127966.4,
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        "fair_value": 0.407472,
        "relative_strength": -0.274103,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
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        "energy": 16.029153,
        "activity_lines": [
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      },
      {
        "date": "2026-07-03",
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        "volume": 55775,
        "typical_volume": 119407.3,
        "trend": 0.425279,
        "fair_value": 0.407794,
        "relative_strength": 1.108168,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
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        "energy": 21.858774,
        "activity_lines": [
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      },
      {
        "date": "2026-07-10",
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        "volume": 17352,
        "typical_volume": 114429.3,
        "trend": 0.425735,
        "fair_value": 0.408116,
        "relative_strength": 1.500998,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 26.94873,
        "energy": 23.320234,
        "activity_lines": [
          0.427,
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          0.427252
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      },
      {
        "date": "2026-07-17",
        "close": 0.43,
        "volume": 162095,
        "typical_volume": 113581.25,
        "trend": 0.426031,
        "fair_value": 0.408411,
        "relative_strength": 1.519047,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 32.917108,
        "energy": 15.98789,
        "activity_lines": [
          0.428,
          0.428818,
          0.428677,
          0.427528
        ]
      },
      {
        "date": "2026-07-24",
        "close": 0.43,
        "volume": 17376,
        "typical_volume": 107620.1,
        "trend": 0.426168,
        "fair_value": 0.408733,
        "relative_strength": 1.726301,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Re-acceleration watch",
        "gate": "up",
        "direction": 36.891087,
        "energy": 21.110466,
        "activity_lines": [
          0.429333,
          0.428818,
          0.428889,
          0.427784
        ]
      },
      {
        "date": "2026-07-31",
        "close": 0.435,
        "volume": 202145,
        "typical_volume": 111586.25,
        "trend": 0.426631,
        "fair_value": 0.40906,
        "relative_strength": 0.514145,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Re-acceleration watch",
        "gate": "up",
        "direction": 58.817345,
        "energy": 34.719364,
        "activity_lines": [
          0.431667,
          0.429727,
          0.429596,
          0.428353
        ]
      },
      {
        "date": "2026-08-07",
        "close": 0.44,
        "volume": 33168,
        "typical_volume": 113154.55,
        "trend": 0.427261,
        "fair_value": 0.409393,
        "relative_strength": -1.49989,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Re-acceleration watch",
        "gate": "up",
        "direction": 73.351321,
        "energy": 61.390747,
        "activity_lines": [
          0.434667,
          0.431545,
          0.430704,
          0.429216
        ]
      }
    ],
    "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."
    }
  }
}