{
  "ticker": {
    "uuid": "7f09e1dd-b23b-42ec-8d2e-084eb58d01d2",
    "symbol": "CSCO34",
    "name": "Cisco Systems, Inc.",
    "exchange": "SAO",
    "country": "BR",
    "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": "^BVSP",
    "stage": 2,
    "stage_name": "Advancing",
    "phase": "2b",
    "phase_label": "Stage 2B \u00b7 Advancing",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 96.0,
    "architecture_regime": "deceleration",
    "architecture_regime_label": "Deceleration",
    "architecture_modifier": "Recompressing",
    "architecture_gate": "up",
    "architecture_direction": 64.354,
    "architecture_energy": 40.083,
    "architecture_maturity": 78.088,
    "architecture_confidence": 96,
    "architecture_tenure": "New",
    "architecture": {
      "interpretation": {
        "headline": "The upward structure remains, but its energy is decelerating.",
        "body": "Trend remains positive, but Activity or price acceptance is losing strength. This can become a healthy recompression, a re-acceleration, or a Rotation Down."
      },
      "scores": {
        "balance": 29.11,
        "rotation_up": 37.03,
        "upward_expansion": 66.08,
        "deceleration": 94.3,
        "rotation_down": 29.25,
        "downward_expansion": 15.41
      },
      "activity_lines": [
        119.576667,
        119.564182,
        116.053238,
        108.847651
      ],
      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.333333
    },
    "latest_close": 124.0,
    "trend_reference": 99.664929,
    "distance_from_trend": 0.244169,
    "trend_direction": "Improving",
    "fair_value": 68.68665,
    "distance_from_fair_value": 0.8053,
    "fair_value_direction": "Improving",
    "relative_strength": 33.239698,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.422166,
    "excess_performance": 0.479214,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.244169,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.146961,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.8053,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.298031,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.332397,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.309619,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.422166,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 4.749158,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 22131,
      "relative_activity": 1.889584,
      "balance": 4.749158,
      "dry_up": 0.851107,
      "accumulation_observations": 5,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.073605,
      "annualized_volatility": 0.418742,
      "from_high_reference": -0.058367,
      "from_low_reference": 0.781325
    },
    "levels": {
      "trend_reference": 99.664929,
      "fair_value_reference": 68.68665,
      "structural_low": 76.769108,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 15,
        "median_return": 0.03675,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.666667,
        "median_excess_return": -0.009459,
        "regime_survival": 0.466667,
        "best_return": 0.395552,
        "worst_return": -0.067055,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 7,
        "median_return": 0.132818,
        "positive_rate": 0.714286,
        "directional_follow_through": 0.714286,
        "median_excess_return": 0.066363,
        "regime_survival": 0.285714,
        "best_return": 0.307233,
        "worst_return": -0.182431,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 4,
        "median_return": -0.040135,
        "positive_rate": 0.25,
        "directional_follow_through": 0.25,
        "median_excess_return": -0.180869,
        "regime_survival": 0.25,
        "best_return": 0.128331,
        "worst_return": -0.148471,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
        "median_return": -0.012692,
        "positive_rate": 0.333333,
        "directional_follow_through": 0.333333,
        "median_excess_return": -0.225738,
        "regime_survival": 0.333333,
        "best_return": 0.541784,
        "worst_return": -0.286596,
        "sufficient": false
      }
    ],
    "ledger": [
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        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2023-12-29",
        "end": "2024-01-05",
        "tenure": "New",
        "return": 0.007732,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-01-12",
        "end": "2024-01-26",
        "tenure": "New",
        "return": 0.047201,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2024-02-02",
        "end": "2024-06-28",
        "tenure": "Established",
        "return": 0.071083,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-07-05",
        "end": "2025-03-21",
        "tenure": "Extended",
        "return": 0.350122,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-03-28",
        "end": "2025-04-04",
        "tenure": "New",
        "return": -0.077823,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2025-04-11",
        "end": "2025-05-16",
        "tenure": "Developing",
        "return": 0.075879,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-05-23",
        "end": "2025-05-30",
        "tenure": "New",
        "return": -0.000972,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2025-06-06",
        "end": "2025-07-04",
        "tenure": "Developing",
        "return": 0.04826,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-07-11",
        "end": "2025-08-15",
        "tenure": "Developing",
        "return": -0.044669,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-08-22",
        "end": "2025-10-24",
        "tenure": "Developing",
        "return": 0.052105,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
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        "end": "2026-01-16",
        "tenure": "Developing",
        "return": 0.029045,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "end": "2026-04-24",
        "tenure": "Established",
        "return": 0.132818,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "end": "2026-07-17",
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        "return": 0.275225,
        "active": false
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      {
        "regime": "deceleration",
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        "tenure": "New",
        "return": 0.068689,
        "active": true
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        "activity_lines": [
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      },
      {
        "date": "2026-05-01",
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        "trend": 81.721351,
        "fair_value": 62.238343,
        "relative_strength": -4.212899,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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      },
      {
        "date": "2026-05-08",
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        "relative_strength": 2.277806,
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        "direction": 80.752878,
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      },
      {
        "date": "2026-05-15",
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        "typical_volume": 14181.15,
        "trend": 83.855235,
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        "relative_strength": 33.971517,
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        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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        "energy": 98.791568,
        "activity_lines": [
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      },
      {
        "date": "2026-05-22",
        "close": 121.382217,
        "volume": 21523,
        "typical_volume": 14396.15,
        "trend": 85.376475,
        "fair_value": 63.512906,
        "relative_strength": 35.783183,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 97.625855,
        "energy": 98.942457,
        "activity_lines": [
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      },
      {
        "date": "2026-05-29",
        "close": 123.626526,
        "volume": 22340,
        "typical_volume": 15040.25,
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        "fair_value": 64.004717,
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        "modifier": "Re-accelerating",
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      },
      {
        "date": "2026-06-05",
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        "typical_volume": 15529.85,
        "trend": 88.570506,
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        "relative_strength": 44.04259,
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        "regime": "upward_expansion",
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        "direction": 83.852669,
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        "activity_lines": [
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      },
      {
        "date": "2026-06-12",
        "close": 121.791176,
        "volume": 1256,
        "typical_volume": 15118.9,
        "trend": 89.982265,
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        "relative_strength": 37.277108,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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        "direction": 68.600178,
        "energy": 88.860053,
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      },
      {
        "date": "2026-06-19",
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        "typical_volume": 14912.3,
        "trend": 91.430951,
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        "relative_strength": 42.091698,
        "stage": 2,
        "regime": "upward_expansion",
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        "activity_lines": [
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      },
      {
        "date": "2026-06-26",
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        "volume": 12564,
        "typical_volume": 14924.85,
        "trend": 92.559441,
        "fair_value": 65.939296,
        "relative_strength": 26.983045,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 66.366535,
        "energy": 66.347839,
        "activity_lines": [
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      },
      {
        "date": "2026-07-03",
        "close": 118.480003,
        "volume": 399,
        "typical_volume": 14275.9,
        "trend": 93.699653,
        "fair_value": 66.396308,
        "relative_strength": 28.817092,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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        "direction": 63.44314,
        "energy": 62.132726,
        "activity_lines": [
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      },
      {
        "date": "2026-07-10",
        "close": 124.0,
        "volume": 11126,
        "typical_volume": 13465.3,
        "trend": 95.033463,
        "fair_value": 66.897829,
        "relative_strength": 31.366759,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 62.792455,
        "energy": 59.880737,
        "activity_lines": [
          120.845816,
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      },
      {
        "date": "2026-07-17",
        "close": 114.480003,
        "volume": 13783,
        "typical_volume": 14046.2,
        "trend": 95.965879,
        "fair_value": 67.325489,
        "relative_strength": 23.753522,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 47.863836,
        "energy": 44.230854,
        "activity_lines": [
          118.673102,
          120.225432,
          111.896506,
          104.517837
        ]
      },
      {
        "date": "2026-07-24",
        "close": 116.029999,
        "volume": 1381,
        "typical_volume": 10974.85,
        "trend": 96.940032,
        "fair_value": 67.769411,
        "relative_strength": 24.735784,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 46.476834,
        "energy": 39.970246,
        "activity_lines": [
          117.504465,
          119.329468,
          113.123889,
          105.812296
        ]
      },
      {
        "date": "2026-07-31",
        "close": 118.150002,
        "volume": 2578,
        "typical_volume": 10753.3,
        "trend": 98.161971,
        "fair_value": 68.212931,
        "relative_strength": 23.713536,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 43.512292,
        "energy": 35.260928,
        "activity_lines": [
          117.652668,
          118.885623,
          114.394118,
          107.180681
        ]
      },
      {
        "date": "2026-08-07",
        "close": 124.0,
        "volume": 22131,
        "typical_volume": 11712.1,
        "trend": 99.664929,
        "fair_value": 68.68665,
        "relative_strength": 33.239698,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 64.354312,
        "energy": 40.083359,
        "activity_lines": [
          119.576667,
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          108.847651
        ]
      }
    ],
    "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."
    }
  }
}