{
  "ticker": {
    "uuid": "8dbd3fc0-f52d-42c1-9231-fd31e0904deb",
    "symbol": "VCX",
    "name": "Vicinity Centres",
    "exchange": "ASX",
    "country": "AU",
    "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": "^AXJO",
    "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": 92.795,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Early expansion",
    "architecture_gate": "up",
    "architecture_direction": 71.157,
    "architecture_energy": 53.922,
    "architecture_maturity": 20.337,
    "architecture_confidence": 80.546,
    "architecture_tenure": "Developing",
    "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": 8.22,
        "rotation_up": 64.9,
        "upward_expansion": 83.7,
        "deceleration": 51.99,
        "rotation_down": 17.69,
        "downward_expansion": 8.03
      },
      "activity_lines": [
        2.673333,
        2.648364,
        2.598905,
        2.557181
      ],
      "activity_state": "Wide",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 0.833333
    },
    "latest_close": 2.71,
    "trend_reference": 2.511079,
    "distance_from_trend": 0.079217,
    "trend_direction": "Improving",
    "fair_value": 2.114573,
    "distance_from_fair_value": 0.281583,
    "fair_value_direction": "Improving",
    "relative_strength": 3.083936,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.106587,
    "excess_performance": 0.042881,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.079217,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.019434,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.281583,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.085485,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.030839,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.034582,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.106587,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.255281,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 37059097,
      "relative_activity": 0.913391,
      "balance": 1.255281,
      "dry_up": 0.942047,
      "accumulation_observations": 2,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.034204,
      "annualized_volatility": 0.204155,
      "from_high_reference": -0.007326,
      "from_low_reference": 0.220721
    },
    "levels": {
      "trend_reference": 2.511079,
      "fair_value_reference": 2.114573,
      "structural_low": 2.22,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 33,
        "median_return": 0.0,
        "positive_rate": 0.484848,
        "directional_follow_through": 0.484848,
        "median_excess_return": 0.006342,
        "regime_survival": 0.757576,
        "best_return": 0.108597,
        "worst_return": -0.104712,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 13,
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        "positive_rate": 0.692308,
        "directional_follow_through": 0.692308,
        "median_excess_return": 0.009127,
        "regime_survival": 0.692308,
        "best_return": 0.131222,
        "worst_return": -0.102381,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 8,
        "median_return": 0.048501,
        "positive_rate": 0.75,
        "directional_follow_through": 0.75,
        "median_excess_return": 0.029661,
        "regime_survival": 0.5,
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        "worst_return": -0.058803,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 4,
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        "positive_rate": 1.0,
        "directional_follow_through": 1.0,
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        "regime_survival": 0.25,
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        "worst_return": 0.039137,
        "sufficient": false
      }
    ],
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      {
        "regime": "deceleration",
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      {
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      },
      {
        "date": "2026-07-03",
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      },
      {
        "date": "2026-07-17",
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        "typical_volume": 46116397.75,
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        "stage": 2,
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      },
      {
        "date": "2026-07-24",
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        "typical_volume": 44691623.15,
        "trend": 2.500532,
        "fair_value": 2.100697,
        "relative_strength": 6.824108,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
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        "direction": 64.168484,
        "energy": 60.648932,
        "activity_lines": [
          2.638,
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      },
      {
        "date": "2026-07-31",
        "close": 2.68,
        "volume": 43091286,
        "typical_volume": 43904660.7,
        "trend": 2.505956,
        "fair_value": 2.107444,
        "relative_strength": 5.356841,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 67.555216,
        "energy": 53.27925,
        "activity_lines": [
          2.652,
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          2.544017
        ]
      },
      {
        "date": "2026-08-07",
        "close": 2.71,
        "volume": 37059097,
        "typical_volume": 40573087.45,
        "trend": 2.511079,
        "fair_value": 2.114573,
        "relative_strength": 3.083936,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 71.156698,
        "energy": 53.922374,
        "activity_lines": [
          2.673333,
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          2.557181
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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."
    }
  }
}