{
  "ticker": {
    "uuid": "8d3edfdc-1beb-4709-8766-7b0f389fa3c5",
    "symbol": "FDS",
    "name": "FactSet Research Systems Inc",
    "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": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Early expansion",
    "architecture_gate": "up",
    "architecture_direction": 77.822,
    "architecture_energy": 71.046,
    "architecture_maturity": 19.743,
    "architecture_confidence": 71.293,
    "architecture_tenure": "New",
    "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": 18.18,
        "rotation_up": 76.47,
        "upward_expansion": 92.87,
        "deceleration": 39.52,
        "rotation_down": 11.02,
        "downward_expansion": 14.87
      },
      "activity_lines": [
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        238.419279
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      "activity_state": "Moderate",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 1.0
    },
    "latest_close": 285.57,
    "trend_reference": 233.731638,
    "distance_from_trend": 0.221786,
    "trend_direction": "Weakening",
    "fair_value": 376.763219,
    "distance_from_fair_value": -0.242044,
    "fair_value_direction": "Improving",
    "relative_strength": -3.200055,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.390967,
    "excess_performance": 0.265342,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.221786,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.040365,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.242044,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.186015,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.032001,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.332272,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.390967,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.780141,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 3844351,
      "relative_activity": 0.829754,
      "balance": 1.780141,
      "dry_up": 0.998665,
      "accumulation_observations": 5,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.093641,
      "annualized_volatility": 0.457136,
      "from_high_reference": -0.251135,
      "from_low_reference": 0.558785
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    "levels": {
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      "fair_value_reference": 376.763219,
      "structural_low": 183.200391,
      "invalidation": "A renewed decline below the structural range low, widening the discount to current Fair Value while Trend falls, weakens the base diagnosis."
    },
    "outcomes": [
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        "horizon": "Near term",
        "sample_count": 20,
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        "positive_rate": 0.65,
        "directional_follow_through": 0.65,
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        "worst_return": -0.148445,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
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        "horizon": "Extended",
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        "horizon": "Full cycle",
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        "regime": "deceleration",
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      },
      {
        "date": "2026-04-17",
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        "date": "2026-06-05",
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      },
      {
        "date": "2026-07-03",
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      },
      {
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      },
      {
        "date": "2026-07-17",
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        "volume": 4662411,
        "typical_volume": 4647211.8,
        "trend": 235.727391,
        "fair_value": 379.554049,
        "relative_strength": -12.564367,
        "stage": 1,
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        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": 33.831394,
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          247.595333,
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      },
      {
        "date": "2026-07-24",
        "close": 254.36,
        "volume": 3476857,
        "typical_volume": 4603382.05,
        "trend": 234.563115,
        "fair_value": 378.482589,
        "relative_strength": -11.996098,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Structural repair",
        "gate": "mixed",
        "direction": 30.217791,
        "energy": 45.088497,
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          251.827333,
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      },
      {
        "date": "2026-07-31",
        "close": 263.2,
        "volume": 6524116,
        "typical_volume": 4706369.0,
        "trend": 233.932162,
        "fair_value": 377.557055,
        "relative_strength": -8.697139,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Emerging rotation",
        "gate": "up",
        "direction": 63.392636,
        "energy": 57.392846,
        "activity_lines": [
          256.801333,
          249.824,
          241.061245,
          235.087806
        ]
      },
      {
        "date": "2026-08-07",
        "close": 285.57,
        "volume": 3844351,
        "typical_volume": 4633119.9,
        "trend": 233.731638,
        "fair_value": 376.763219,
        "relative_strength": -3.200055,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 77.822042,
        "energy": 71.046029,
        "activity_lines": [
          267.134667,
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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."
    }
  }
}