{
  "ticker": {
    "uuid": "7c8016a7-b660-4a3a-8d11-9b65856bc929",
    "symbol": "DLB",
    "name": "Dolby Laboratories",
    "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": 1,
    "stage_name": "Basing",
    "phase": "1b",
    "phase_label": "Stage 1B \u00b7 Basing",
    "transition": "stage_1_building",
    "transition_label": "Base still building",
    "confidence": 96.0,
    "architecture_regime": "rotation_up",
    "architecture_regime_label": "Rotation Up",
    "architecture_modifier": "Structural repair",
    "architecture_gate": "down",
    "architecture_direction": -1.11,
    "architecture_energy": 14.91,
    "architecture_maturity": 36.706,
    "architecture_confidence": 69.145,
    "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": 44.01,
        "rotation_up": 40.57,
        "upward_expansion": 22.82,
        "deceleration": 41.21,
        "rotation_down": 23.12,
        "downward_expansion": 61.49
      },
      "activity_lines": [
        56.107333,
        54.066909,
        54.604371,
        56.178411
      ],
      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Improving",
      "price_acceptance": -0.333333
    },
    "latest_close": 61.77,
    "trend_reference": 58.338476,
    "distance_from_trend": 0.058821,
    "trend_direction": "Weakening",
    "fair_value": 71.541967,
    "distance_from_fair_value": -0.136591,
    "fair_value_direction": "Improving",
    "relative_strength": -12.066324,
    "relative_strength_direction": "Improving",
    "price_momentum": -0.036241,
    "excess_performance": -0.161866,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.058821,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.063303,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.136591,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.07948,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.120663,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.11725,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.036241,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.934969,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 5299010,
      "relative_activity": 1.320749,
      "balance": 0.934969,
      "dry_up": 1.205684,
      "accumulation_observations": 4,
      "distribution_observations": 5
    },
    "risk": {
      "range_context": 0.059158,
      "annualized_volatility": 0.377178,
      "from_high_reference": -0.169454,
      "from_low_reference": 0.279942
    },
    "levels": {
      "trend_reference": 58.338476,
      "fair_value_reference": 71.541967,
      "structural_low": 48.26,
      "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": 6,
        "median_return": 0.010613,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": 0.022544,
        "regime_survival": 0.166667,
        "best_return": 0.070853,
        "worst_return": -0.065137,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 4,
        "median_return": 0.003667,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": 0.025493,
        "regime_survival": 0.0,
        "best_return": 0.14423,
        "worst_return": -0.113523,
        "sufficient": false
      },
      {
        "horizon": "Extended",
        "sample_count": 3,
        "median_return": -0.045151,
        "positive_rate": 0.333333,
        "directional_follow_through": 0.333333,
        "median_excess_return": -0.037137,
        "regime_survival": 0.0,
        "best_return": 0.0793,
        "worst_return": -0.061942,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
        "median_return": -0.089308,
        "positive_rate": 0.333333,
        "directional_follow_through": 0.333333,
        "median_excess_return": -0.279792,
        "regime_survival": 0.0,
        "best_return": 0.103482,
        "worst_return": -0.138,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2023-12-15",
        "end": "2024-01-19",
        "tenure": "Developing",
        "return": -0.035661,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2024-01-26",
        "end": "2024-02-16",
        "tenure": "New",
        "return": -0.068886,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2024-02-23",
        "end": "2024-03-15",
        "tenure": "New",
        "return": 0.047881,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2024-03-22",
        "end": "2024-04-19",
        "tenure": "Developing",
        "return": -0.066061,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-04-26",
        "end": "2024-10-25",
        "tenure": "Extended",
        "return": -0.073734,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2024-11-01",
        "end": "2024-11-29",
        "tenure": "Developing",
        "return": 0.063408,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
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        "end": "2025-01-17",
        "tenure": "Developing",
        "return": 0.026785,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-01-24",
        "end": "2025-03-21",
        "tenure": "Developing",
        "return": 0.017554,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "end": "2025-04-18",
        "tenure": "New",
        "return": -0.099362,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2025-04-25",
        "end": "2025-05-23",
        "tenure": "Developing",
        "return": -0.010064,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-05-30",
        "end": "2025-07-18",
        "tenure": "Developing",
        "return": 0.014678,
        "active": false
      },
      {
        "regime": "balance",
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        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
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        "active": false
      },
      {
        "regime": "rotation_up",
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        "return": 0.0,
        "active": true
      }
    ],
    "chart_path": [
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      },
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        "typical_volume": 3757432.4,
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        "energy": 69.806831,
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      },
      {
        "date": "2026-07-24",
        "close": 49.86,
        "volume": 3856352,
        "typical_volume": 3809161.25,
        "trend": 58.532037,
        "fair_value": 71.7191,
        "relative_strength": -26.740555,
        "stage": 4,
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        "modifier": "Established contraction",
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        "direction": -66.211482,
        "energy": 70.0405,
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          50.051333,
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      },
      {
        "date": "2026-07-31",
        "close": 58.81,
        "volume": 6101957,
        "typical_volume": 3958906.65,
        "trend": 58.399431,
        "fair_value": 71.614083,
        "relative_strength": -13.937684,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -28.059435,
        "energy": 28.135138,
        "activity_lines": [
          52.763333,
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          54.042928,
          55.960955
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      },
      {
        "date": "2026-08-07",
        "close": 61.77,
        "volume": 5299010,
        "typical_volume": 4012123.65,
        "trend": 58.338476,
        "fair_value": 71.541967,
        "relative_strength": -12.066324,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Structural repair",
        "gate": "down",
        "direction": -1.110387,
        "energy": 14.909516,
        "activity_lines": [
          56.107333,
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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."
    }
  }
}