{
  "ticker": {
    "uuid": "6fd2f87e-255b-455e-87b6-8889dc9df65a",
    "symbol": "ELE",
    "name": "Elemental Royalty Corporation",
    "exchange": "TOR",
    "country": "CA",
    "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": "^GSPTSE",
    "stage": 3,
    "stage_name": "Distribution",
    "phase": "3b",
    "phase_label": "Stage 3B \u00b7 Distribution",
    "transition": "stage_3_churning",
    "transition_label": "Stage 3 range intact",
    "confidence": 52.771,
    "architecture_regime": "downward_expansion",
    "architecture_regime_label": "Downward Expansion",
    "architecture_modifier": "Early contraction",
    "architecture_gate": "down",
    "architecture_direction": -14.726,
    "architecture_energy": 11.696,
    "architecture_maturity": 38.16,
    "architecture_confidence": 61.99,
    "architecture_tenure": "Developing",
    "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": 55.0,
        "rotation_up": 26.31,
        "upward_expansion": 19.66,
        "deceleration": 40.74,
        "rotation_down": 30.03,
        "downward_expansion": 58.32
      },
      "activity_lines": [
        23.359334,
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        23.187765,
        24.128549
      ],
      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Improving",
      "price_acceptance": -0.333333
    },
    "latest_close": 26.690001,
    "trend_reference": 25.494942,
    "distance_from_trend": 0.046874,
    "trend_direction": "Improving",
    "fair_value": 16.258946,
    "distance_from_fair_value": 0.641558,
    "fair_value_direction": "Weakening",
    "relative_strength": -0.901515,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.018201,
    "excess_performance": -0.102221,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.046874,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.016212,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.641558,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.035762,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.009015,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.02248,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.018201,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.758703,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 455800,
      "relative_activity": 2.299813,
      "balance": 0.758703,
      "dry_up": 1.515087,
      "accumulation_observations": 3,
      "distribution_observations": 4
    },
    "risk": {
      "range_context": 0.102765,
      "annualized_volatility": 0.70488,
      "from_high_reference": -0.220241,
      "from_low_reference": 0.506363
    },
    "levels": {
      "trend_reference": 25.494942,
      "fair_value_reference": 16.258946,
      "structural_low": 19.780001,
      "invalidation": "A decisive breakout above range resistance with renewed RS leadership invalidates the distribution reading; a range-low break confirms deterioration."
    },
    "outcomes": [
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        "horizon": "Near term",
        "sample_count": 23,
        "median_return": -0.017699,
        "positive_rate": 0.478261,
        "directional_follow_through": 0.521739,
        "median_excess_return": -0.014381,
        "regime_survival": 0.826087,
        "best_return": 0.133333,
        "worst_return": -0.145038,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 8,
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        "median_excess_return": 0.000426,
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        "worst_return": -0.122137,
        "sufficient": true
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        "horizon": "Extended",
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        "worst_return": -0.125,
        "sufficient": true
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        "horizon": "Full cycle",
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        "activity_lines": [
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      },
      {
        "date": "2026-04-24",
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        "typical_volume": 274840.0,
        "trend": 24.960618,
        "fair_value": 15.213078,
        "relative_strength": -0.674699,
        "stage": 2,
        "regime": "balance",
        "modifier": "Upper balance after advance",
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      },
      {
        "date": "2026-05-01",
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        "modifier": "Upper balance after advance",
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        "activity_lines": [
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      },
      {
        "date": "2026-05-08",
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        "typical_volume": 271100.0,
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      },
      {
        "date": "2026-05-15",
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        "typical_volume": 282785.0,
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        "relative_strength": -9.125555,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
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        "energy": 31.628869,
        "activity_lines": [
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      },
      {
        "date": "2026-05-22",
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        "typical_volume": 285750.0,
        "trend": 24.977443,
        "fair_value": 15.494724,
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        "stage": 3,
        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
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        "energy": 38.258982,
        "activity_lines": [
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      },
      {
        "date": "2026-05-29",
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        "typical_volume": 283610.0,
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        "relative_strength": -6.55387,
        "stage": 3,
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      },
      {
        "date": "2026-06-05",
        "close": 20.811653,
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        "typical_volume": 260760.0,
        "trend": 25.093166,
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        "relative_strength": -19.826589,
        "stage": 3,
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        "gate": "mixed",
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      },
      {
        "date": "2026-06-12",
        "close": 21.330698,
        "volume": 82400,
        "typical_volume": 250320.0,
        "trend": 25.072503,
        "fair_value": 15.690058,
        "relative_strength": -19.100108,
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        "gate": "mixed",
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      },
      {
        "date": "2026-06-19",
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        "fair_value": 15.755831,
        "relative_strength": -15.663675,
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      },
      {
        "date": "2026-06-26",
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        "typical_volume": 209925.0,
        "trend": 25.321653,
        "fair_value": 15.828386,
        "relative_strength": -12.704671,
        "stage": 3,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -57.633337,
        "energy": 59.01473,
        "activity_lines": [
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      },
      {
        "date": "2026-07-03",
        "close": 24.49,
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        "typical_volume": 197930.0,
        "trend": 25.468522,
        "fair_value": 15.911788,
        "relative_strength": -7.529523,
        "stage": 3,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
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        "direction": -42.665542,
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        "activity_lines": [
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      },
      {
        "date": "2026-07-10",
        "close": 22.65,
        "volume": 234800,
        "typical_volume": 201875.0,
        "trend": 25.532763,
        "fair_value": 15.978275,
        "relative_strength": -14.290853,
        "stage": 3,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -42.630114,
        "energy": 24.585087,
        "activity_lines": [
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      },
      {
        "date": "2026-07-17",
        "close": 20.18,
        "volume": 342300,
        "typical_volume": 212405.0,
        "trend": 25.460102,
        "fair_value": 16.033409,
        "relative_strength": -23.220464,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -68.538479,
        "energy": 37.533351,
        "activity_lines": [
          22.213619,
          22.332459,
          23.340651,
          24.491431
        ]
      },
      {
        "date": "2026-07-24",
        "close": 22.190001,
        "volume": 208700,
        "typical_volume": 207415.0,
        "trend": 25.438803,
        "fair_value": 16.098867,
        "relative_strength": -15.505924,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -50.87907,
        "energy": 32.106562,
        "activity_lines": [
          22.106509,
          22.27302,
          23.11692,
          24.280457
        ]
      },
      {
        "date": "2026-07-31",
        "close": 21.84,
        "volume": 194300,
        "typical_volume": 191925.0,
        "trend": 25.445765,
        "fair_value": 16.163362,
        "relative_strength": -16.211047,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -54.639492,
        "energy": 39.624329,
        "activity_lines": [
          21.886,
          22.16481,
          22.900878,
          24.048276
        ]
      },
      {
        "date": "2026-08-07",
        "close": 26.690001,
        "volume": 455800,
        "typical_volume": 198190.0,
        "trend": 25.494942,
        "fair_value": 16.258946,
        "relative_strength": -0.901515,
        "stage": 3,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -14.725512,
        "energy": 11.69586,
        "activity_lines": [
          23.359334,
          22.959466,
          23.187765,
          24.128549
        ]
      }
    ],
    "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."
    }
  }
}