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Confidence measures geometric agreement and external confirmation only.", "analysis": { "eligible": true, "as_of": "2026-08-21", "benchmark": "^MERV", "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": 94.064, "architecture_regime": "upward_expansion", "architecture_regime_label": "Upward Expansion", "architecture_modifier": "Re-accelerating", "architecture_gate": "up", "architecture_direction": 59.282, "architecture_energy": 45.846, "architecture_maturity": 25.822, "architecture_confidence": 75.852, "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": 19.93, "rotation_up": 56.28, "upward_expansion": 79.45, "deceleration": 63.8, "rotation_down": 20.53, "downward_expansion": 6.12 }, "activity_lines": [ 29411.906133, 29099.471493, 28288.159994, 27208.976083 ], "activity_state": "Moderate", "activity_direction": "Contracting", "rotation_direction": "Weakening", "price_acceptance": 0.666667 }, "latest_close": 27720.0, "trend_reference": 25923.937801, "distance_from_trend": 0.069282, "trend_direction": "Improving", "fair_value": 18717.154931, "distance_from_fair_value": 0.480994, "fair_value_direction": "Weakening", "relative_strength": 10.246591, "relative_strength_direction": "Weakening", "price_momentum": 0.142161, "excess_performance": 0.128262, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.069282, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.072203, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.480994, "read": "Premium" }, { "label": "Fair Value direction", "positive": false, "value": -0.144429, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": true, "value": 0.102466, "read": "Leading" }, { "label": "Relative strength direction", "positive": false, "value": -0.116203, "read": "Weakening" }, { "label": "Price momentum", "positive": true, "value": 0.142161, "read": "Positive" }, { "label": "Volume balance", "positive": false, "value": 0.396408, "read": "Supply-led" } ], "volume": { "latest": 2577, "relative_activity": 0.935153, "balance": 0.396408, "dry_up": 1.690587, "accumulation_observations": 2, "distribution_observations": 2 }, "risk": { "range_context": 0.070835, "annualized_volatility": 0.464122, "from_high_reference": -0.143417, "from_low_reference": 0.732532 }, "levels": { "trend_reference": 25923.937801, "fair_value_reference": 18717.154931, 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79.193583, "activity_lines": [ 30249.937335, 29212.389093, 28255.396653, 27090.691996 ] }, { "date": "2026-08-21", "close": 27720.0, "volume": 2577, "typical_volume": 2755.7, "trend": 25923.937801, "fair_value": 18717.154931, "relative_strength": 10.246591, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 59.282007, "energy": 45.846251, "activity_lines": [ 29411.906133, 29099.471493, 28288.159994, 27208.976083 ] } ], "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." } } }