{
  "ticker": {
    "uuid": "81e6f05a-35e1-407c-85d6-b23713461f4f",
    "symbol": "ARROW",
    "name": "Arrow Syndicate Public Company Limited",
    "exchange": "SET",
    "country": "TH",
    "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": "^SET.BK",
    "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": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Established expansion",
    "architecture_gate": "up",
    "architecture_direction": 65.5,
    "architecture_energy": 54.678,
    "architecture_maturity": 58.696,
    "architecture_confidence": 75.257,
    "architecture_tenure": "Established",
    "architecture": {
      "interpretation": {
        "headline": "The weekly architecture is expanding upward.",
        "body": "Trend and Activity show sustained positive alignment with constructive price acceptance. Directional energy remains positive; cooling within this regime can indicate that it is maturing."
      },
      "scores": {
        "balance": 8.05,
        "rotation_up": 56.66,
        "upward_expansion": 82.06,
        "deceleration": 66.17,
        "rotation_down": 23.49,
        "downward_expansion": 8.73
      },
      "activity_lines": [
        5.82,
        5.780909,
        5.578428,
        5.419959
      ],
      "activity_state": "Wide",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.666667
    },
    "latest_close": 5.85,
    "trend_reference": 5.219308,
    "distance_from_trend": 0.120838,
    "trend_direction": "Improving",
    "fair_value": 4.996619,
    "distance_from_fair_value": 0.170792,
    "fair_value_direction": "Improving",
    "relative_strength": 1.081784,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.2402,
    "excess_performance": 0.047875,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.120838,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.070565,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.170792,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.170716,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.010818,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.106863,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.2402,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.612434,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 154200,
      "relative_activity": 1.182062,
      "balance": 1.612434,
      "dry_up": 1.319854,
      "accumulation_observations": 3,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.042735,
      "annualized_volatility": 0.230152,
      "from_high_reference": -0.025,
      "from_low_reference": 0.275926
    },
    "levels": {
      "trend_reference": 5.219308,
      "fair_value_reference": 4.996619,
      "structural_low": 4.622641,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 8,
        "median_return": 0.012048,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": -0.008113,
        "regime_survival": 0.625,
        "best_return": 0.055046,
        "worst_return": -0.052631,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 3,
        "median_return": 0.0,
        "positive_rate": 0.333333,
        "directional_follow_through": 0.333333,
        "median_excess_return": -0.014427,
        "regime_survival": 0.333333,
        "best_return": 0.011818,
        "worst_return": -0.032895,
        "sufficient": false
      },
      {
        "horizon": "Extended",
        "sample_count": 2,
        "median_return": 0.035911,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": -0.059424,
        "regime_survival": 0.5,
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        "worst_return": -0.032596,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 1,
        "median_return": -0.108607,
        "positive_rate": 0.0,
        "directional_follow_through": 0.0,
        "median_excess_return": 0.035749,
        "regime_survival": 0.0,
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        "worst_return": -0.108607,
        "sufficient": false
      }
    ],
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        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2023-10-06",
        "end": "2024-02-16",
        "tenure": "Established",
        "return": 0.031746,
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      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
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        "end": "2024-03-08",
        "tenure": "New",
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      {
        "regime": "balance",
        "label": "Balance",
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        "end": "2024-05-24",
        "tenure": "Developing",
        "return": -0.04679,
        "active": false
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      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
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        "return": -0.033333,
        "active": false
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      {
        "regime": "downward_expansion",
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      {
        "date": "2026-04-24",
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        "date": "2026-05-08",
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        "date": "2026-05-15",
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        "date": "2026-06-05",
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      },
      {
        "date": "2026-07-03",
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        "typical_volume": 126090.0,
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        "fair_value": 4.994129,
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      },
      {
        "date": "2026-07-10",
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        "typical_volume": 132690.0,
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        "fair_value": 4.994248,
        "relative_strength": -2.358233,
        "stage": 2,
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        "modifier": "Re-accelerating",
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      },
      {
        "date": "2026-07-17",
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        "volume": 183300,
        "typical_volume": 125115.0,
        "trend": 5.113428,
        "fair_value": 4.995067,
        "relative_strength": -0.718678,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 73.673908,
        "energy": 63.153618,
        "activity_lines": [
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          5.672727,
          5.430323,
          5.290708
        ]
      },
      {
        "date": "2026-07-24",
        "close": 5.75,
        "volume": 223600,
        "typical_volume": 128290.0,
        "trend": 5.148491,
        "fair_value": 4.995244,
        "relative_strength": -2.543719,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 63.050081,
        "energy": 58.839685,
        "activity_lines": [
          5.766667,
          5.71,
          5.476923,
          5.331777
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      },
      {
        "date": "2026-07-31",
        "close": 5.85,
        "volume": 127600,
        "typical_volume": 124600.0,
        "trend": 5.184686,
        "fair_value": 4.996062,
        "relative_strength": 0.375862,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 66.158838,
        "energy": 56.928755,
        "activity_lines": [
          5.806667,
          5.751818,
          5.530148,
          5.377036
        ]
      },
      {
        "date": "2026-08-07",
        "close": 5.85,
        "volume": 154200,
        "typical_volume": 130450.0,
        "trend": 5.219308,
        "fair_value": 4.996619,
        "relative_strength": 1.081784,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 65.499642,
        "energy": 54.677689,
        "activity_lines": [
          5.82,
          5.780909,
          5.578428,
          5.419959
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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."
    }
  }
}