{ "ticker": { "uuid": "7c49d7fe-e7a7-4a08-9810-fb9be3dcef1b", "symbol": "LTM", "name": "LATAM Airlines Group S.A.", "exchange": "NYSE", "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": "SPY", "stage": 2, "stage_name": "Advancing", "phase": "2a", "phase_label": "Stage 2A \u00b7 Early advance", "transition": "stage_2_healthy", "transition_label": "Stage 2 trend intact", "confidence": 84.176, "architecture_regime": "balance", "architecture_regime_label": "Balance", "architecture_modifier": "Upper balance after advance", "architecture_gate": "mixed", "architecture_direction": 13.222, "architecture_energy": 11.777, "architecture_maturity": 25.779, "architecture_confidence": 68.462, "architecture_tenure": "New", "architecture": { "interpretation": { "headline": "Directional pressure has compressed into balance.", "body": "Trend and Activity are compressed into balance, so neither side has durable control. Prior structure and the next directional change provide context; balance alone is not assumed to be a base." }, "scores": { "balance": 56.1, "rotation_up": 26.31, "upward_expansion": 22.8, "deceleration": 65.55, "rotation_down": 41.07, "downward_expansion": 31.8 }, "activity_lines": [ 53.777333, 54.350909, 53.239096, 52.897125 ], "activity_state": "Compressed", "activity_direction": "Contracting", "rotation_direction": "Weakening", "price_acceptance": 0.0 }, "latest_close": 56.72, "trend_reference": 53.805222, "distance_from_trend": 0.054173, "trend_direction": "Improving", "fair_value": 33.471173, "distance_from_fair_value": 0.694593, "fair_value_direction": "Improving", "relative_strength": -0.610128, "relative_strength_direction": "Improving", "price_momentum": -0.122969, "excess_performance": -0.248594, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.054173, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.027304, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.694593, "read": "Premium" }, { "label": "Fair Value direction", "positive": true, "value": 0.059602, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.006101, "read": "Lagging" }, { "label": "Relative strength direction", "positive": true, "value": 0.027992, "read": "Improving" }, { "label": "Price momentum", "positive": false, "value": -0.122969, "read": "Negative" }, { "label": "Volume balance", "positive": true, "value": 1.943437, "read": "Demand-led" } ], "volume": { "latest": 4548300, "relative_activity": 1.087305, "balance": 1.943437, "dry_up": 0.901081, "accumulation_observations": 3, "distribution_observations": 1 }, "risk": { "range_context": 0.085363, "annualized_volatility": 0.492569, "from_high_reference": -0.192464, "from_low_reference": 0.410354 }, "levels": { "trend_reference": 53.805222, "fair_value_reference": 33.471173, "structural_low": 44.969788, "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis." }, "outcomes": [ { "horizon": "Near term", "sample_count": 3, "median_return": 0.000381, "positive_rate": 0.666667, "directional_follow_through": 0.666667, "median_excess_return": -0.044021, "regime_survival": 0.666667, "best_return": 0.119463, "worst_return": -0.058908, "sufficient": false }, { "horizon": "Intermediate", "sample_count": 1, "median_return": 0.005594, "positive_rate": 1.0, "directional_follow_through": 1.0, "median_excess_return": -0.032047, "regime_survival": 1.0, "best_return": 0.005594, "worst_return": 0.005594, "sufficient": false }, { "horizon": "Extended", "sample_count": 0, "median_return": null, "positive_rate": null, "directional_follow_through": null, "median_excess_return": null, "regime_survival": null, "best_return": null, "worst_return": null, "sufficient": false }, { "horizon": "Full cycle", "sample_count": 0, "median_return": null, "positive_rate": null, "directional_follow_through": null, "median_excess_return": null, "regime_survival": null, "best_return": null, "worst_return": null, "sufficient": false } ], "ledger": [ { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-08-15", "end": "2025-10-03", "tenure": "Developing", "return": -0.02334, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2025-10-10", "end": "2025-12-05", "tenure": "Developing", "return": 0.222463, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-12-12", "end": "2026-02-27", "tenure": "Developing", "return": 0.069875, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2026-03-06", "end": "2026-03-27", "tenure": "New", "return": -0.001664, "active": false }, { "regime": "rotation_down", 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5045630.25, "trend": 53.922164, "fair_value": 32.667331, "relative_strength": 3.405723, "stage": 2, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 21.509421, "energy": 39.547781, "activity_lines": [ 55.962667, 53.82742, 52.233101, 52.961215 ] }, { "date": "2026-07-10", "close": 56.45, "volume": 4044130, "typical_volume": 4922521.7, "trend": 54.058608, "fair_value": 32.854596, "relative_strength": 1.807037, "stage": 2, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 19.685506, "energy": 44.298914, "activity_lines": [ 56.607333, 54.611636, 52.688985, 53.124302 ] }, { "date": "2026-07-17", "close": 52.56, "volume": 4090480, "typical_volume": 4792949.25, "trend": 53.985328, "fair_value": 33.008545, "relative_strength": -3.876498, "stage": 2, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 14.857972, "energy": 28.038647, "activity_lines": [ 55.413333, 54.519273, 52.779257, 53.027617 ] }, { "date": "2026-07-24", "close": 50.15, "volume": 3099514, "typical_volume": 4447805.45, "trend": 53.861638, "fair_value": 33.141424, "relative_strength": -7.820261, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -15.703536, "energy": 8.198694, "activity_lines": [ 53.462, 53.963455, 52.656459, 52.780177 ] }, { "date": "2026-07-31", "close": 52.76, "volume": 3338935, "typical_volume": 4228808.55, "trend": 53.805664, "fair_value": 33.292336, "relative_strength": -4.151816, "stage": 4, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -0.120563, "energy": 6.531852, "activity_lines": [ 52.760667, 53.823273, 52.771736, 52.709103 ] }, { "date": "2026-08-07", "close": 56.72, "volume": 4548300, "typical_volume": 4183096.65, "trend": 53.805222, "fair_value": 33.471173, "relative_strength": -0.610128, "stage": 2, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 13.222203, "energy": 11.77651, "activity_lines": [ 53.777333, 54.350909, 53.239096, 52.897125 ] } ], "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." } } }