{
  "ticker": {
    "uuid": "7c2784ce-76bc-4630-a4e5-1edc8fe32e8f",
    "symbol": "ECL",
    "name": "Ecolab Inc.",
    "exchange": "VIE",
    "country": "AT",
    "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": "^ATX",
    "stage": 3,
    "stage_name": "Distribution",
    "phase": "3a",
    "phase_label": "Stage 3A \u00b7 Churning",
    "transition": "stage_3_churning",
    "transition_label": "Stage 3 range intact",
    "confidence": 59.006,
    "architecture_regime": "rotation_up",
    "architecture_regime_label": "Rotation Up",
    "architecture_modifier": "Value reclamation",
    "architecture_gate": "mixed",
    "architecture_direction": 43.984,
    "architecture_energy": 34.106,
    "architecture_maturity": 35.883,
    "architecture_confidence": 45.298,
    "architecture_tenure": "Developing",
    "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": 30.91,
        "rotation_up": 50.59,
        "upward_expansion": 43.41,
        "deceleration": 49.24,
        "rotation_down": 26.39,
        "downward_expansion": 15.41
      },
      "activity_lines": [
        241.746667,
        240.991342,
        234.494431,
        233.979858
      ],
      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Stable",
      "price_acceptance": 0.5
    },
    "latest_close": 247.300003,
    "trend_reference": 234.99778,
    "distance_from_trend": 0.05235,
    "trend_direction": "Improving",
    "fair_value": 215.916365,
    "distance_from_fair_value": 0.145351,
    "fair_value_direction": "Improving",
    "relative_strength": -13.641974,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.015376,
    "excess_performance": -0.158871,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.05235,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.018288,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.145351,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.114426,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.13642,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.075025,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.015376,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 3.431034,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 117,
      "relative_activity": 8.666667,
      "balance": 3.431034,
      "dry_up": 3.685185,
      "accumulation_observations": 2,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.034874,
      "annualized_volatility": 0.210682,
      "from_high_reference": -0.054663,
      "from_low_reference": 0.17525
    },
    "levels": {
      "trend_reference": 234.99778,
      "fair_value_reference": 215.916365,
      "structural_low": 210.423233,
      "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": 8,
        "median_return": 0.019005,
        "positive_rate": 0.75,
        "directional_follow_through": 0.75,
        "median_excess_return": 0.048041,
        "regime_survival": 0.375,
        "best_return": 0.098645,
        "worst_return": -0.072186,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 5,
        "median_return": -0.043758,
        "positive_rate": 0.4,
        "directional_follow_through": 0.4,
        "median_excess_return": -0.044351,
        "regime_survival": 0.0,
        "best_return": 0.176901,
        "worst_return": -0.109002,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 4,
        "median_return": 0.100316,
        "positive_rate": 0.75,
        "directional_follow_through": 0.75,
        "median_excess_return": -0.037847,
        "regime_survival": 0.0,
        "best_return": 0.196083,
        "worst_return": -0.185843,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 2,
        "median_return": 0.180186,
        "positive_rate": 1.0,
        "directional_follow_through": 1.0,
        "median_excess_return": 0.136977,
        "regime_survival": 0.0,
        "best_return": 0.346361,
        "worst_return": 0.014011,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-09-20",
        "end": "2025-01-03",
        "tenure": "Established",
        "return": 0.008561,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-01-10",
        "end": "2025-02-07",
        "tenure": "Developing",
        "return": 0.058746,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-02-14",
        "end": "2025-03-21",
        "tenure": "Developing",
        "return": -0.085617,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-03-28",
        "end": "2025-04-11",
        "tenure": "New",
        "return": -0.117164,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-04-18",
        "end": "2025-05-30",
        "tenure": "Developing",
        "return": 0.106089,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-06-06",
        "end": "2025-08-15",
        "tenure": "Developing",
        "return": 0.019062,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2025-08-22",
        "end": "2025-09-19",
        "tenure": "Developing",
        "return": -0.072186,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-09-26",
        "end": "2026-01-23",
        "tenure": "Established",
        "return": 0.036125,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
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        "end": "2026-02-06",
        "tenure": "New",
        "return": 0.034293,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2026-02-13",
        "end": "2026-03-20",
        "tenure": "Developing",
        "return": -0.12178,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2026-03-27",
        "end": "2026-05-08",
        "tenure": "Developing",
        "return": -0.054614,
        "active": false
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      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2026-05-15",
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        "tenure": "New",
        "return": 0.020188,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2026-05-29",
        "end": "2026-06-19",
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        "return": 0.065974,
        "active": false
      },
      {
        "regime": "rotation_up",
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        "tenure": "Developing",
        "return": -0.000808,
        "active": true
      }
    ],
    "chart_path": [
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        "date": "2023-08-18",
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      },
      {
        "date": "2026-05-08",
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      },
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        "date": "2026-05-15",
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        "modifier": "Supply rotation",
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        "activity_lines": [
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      },
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        "date": "2026-05-22",
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        "modifier": "Structural failure",
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      },
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        "modifier": "Early contraction",
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      },
      {
        "date": "2026-06-05",
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      },
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        "date": "2026-06-12",
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      },
      {
        "date": "2026-06-26",
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        "typical_volume": 3.85,
        "trend": 231.587984,
        "fair_value": 212.860364,
        "relative_strength": -13.315696,
        "stage": 3,
        "regime": "rotation_up",
        "modifier": "Structural repair",
        "gate": "mixed",
        "direction": 31.35222,
        "energy": 37.24116,
        "activity_lines": [
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      },
      {
        "date": "2026-07-03",
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        "typical_volume": 3.55,
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        "fair_value": 213.401253,
        "relative_strength": -15.12603,
        "stage": 3,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
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        "direction": 43.050697,
        "energy": 56.115823,
        "activity_lines": [
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      },
      {
        "date": "2026-07-10",
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        "volume": 14,
        "typical_volume": 4.25,
        "trend": 233.008882,
        "fair_value": 213.908298,
        "relative_strength": -15.735503,
        "stage": 3,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "mixed",
        "direction": 26.232367,
        "energy": 60.874416,
        "activity_lines": [
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      },
      {
        "date": "2026-07-17",
        "close": 241.600006,
        "volume": 0,
        "typical_volume": 4.25,
        "trend": 233.605024,
        "fair_value": 214.410886,
        "relative_strength": -13.298547,
        "stage": 3,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "mixed",
        "direction": 26.45795,
        "energy": 61.255401,
        "activity_lines": [
          242.680004,
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      },
      {
        "date": "2026-07-24",
        "close": 235.699997,
        "volume": 0,
        "typical_volume": 4.25,
        "trend": 233.961299,
        "fair_value": 214.883415,
        "relative_strength": -16.114389,
        "stage": 3,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "mixed",
        "direction": 22.924845,
        "energy": 40.897772,
        "activity_lines": [
          240.520002,
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      },
      {
        "date": "2026-07-31",
        "close": 239.699997,
        "volume": 82,
        "typical_volume": 7.65,
        "trend": 234.533985,
        "fair_value": 215.378792,
        "relative_strength": -14.2278,
        "stage": 3,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "mixed",
        "direction": 19.286577,
        "energy": 23.435679,
        "activity_lines": [
          239.606667,
          238.861279,
          232.843823,
          233.156244
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      },
      {
        "date": "2026-08-07",
        "close": 247.300003,
        "volume": 117,
        "typical_volume": 13.5,
        "trend": 234.99778,
        "fair_value": 215.916365,
        "relative_strength": -13.641974,
        "stage": 3,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "mixed",
        "direction": 43.984007,
        "energy": 34.106357,
        "activity_lines": [
          241.746667,
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      }
    ],
    "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."
    }
  }
}