{ "ticker": { "uuid": "8e4bacb1-fa21-4d58-af00-5f6157963881", "symbol": "CNMD", "name": "CONMED Corporation", "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": 95.943, "architecture_regime": "rotation_up", "architecture_regime_label": "Rotation Up", "architecture_modifier": "Emerging rotation", "architecture_gate": "mixed", "architecture_direction": 55.168, "architecture_energy": 75.715, "architecture_maturity": 24.0, "architecture_confidence": 72.668, "architecture_tenure": "New", "architecture": { "interpretation": { "headline": "The Activity Line structure is rotating upward.", "body": "Fast Activity is improving relative to Slow Activity and price acceptance is strengthening. This is earlier than full positive Trend confirmation and remains a developing repair." }, "scores": { "balance": 11.3, "rotation_up": 78.6, "upward_expansion": 65.96, "deceleration": 20.87, "rotation_down": 18.74, "downward_expansion": 26.62 }, "activity_lines": [ 45.581333, 41.782, 39.215333, 38.780774 ], "activity_state": "Wide", "activity_direction": "Expanding", "rotation_direction": "Improving", "price_acceptance": 0.666667 }, "latest_close": 49.12, "trend_reference": 38.891667, "distance_from_trend": 0.262996, "trend_direction": "Weakening", "fair_value": 63.531561, "distance_from_fair_value": -0.226841, "fair_value_direction": "Improving", "relative_strength": 3.992951, "relative_strength_direction": "Improving", "price_momentum": 0.183044, "excess_performance": 0.057419, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.262996, "read": "Above" }, { "label": "Trend direction", "positive": false, "value": -0.021158, "read": "Falling" }, { "label": "Price vs current Fair Value", "positive": false, "value": -0.226841, "read": "Below anchor" }, { "label": "Fair Value direction", "positive": true, "value": 0.252008, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": true, "value": 0.03993, "read": "Leading" }, { "label": "Relative strength direction", "positive": true, "value": 0.329927, "read": "Improving" }, { "label": "Price momentum", "positive": true, "value": 0.183044, "read": "Positive" }, { "label": "Volume balance", "positive": true, "value": 1.268626, "read": "Demand-led" } ], "volume": { "latest": 3160500, "relative_activity": 1.172206, "balance": 1.268626, "dry_up": 1.410342, "accumulation_observations": 5, "distribution_observations": 3 }, "risk": { "range_context": 0.089758, "annualized_volatility": 0.458867, "from_high_reference": -0.129342, "from_low_reference": 0.562341 }, "levels": { "trend_reference": 38.891667, "fair_value_reference": 63.531561, "structural_low": 31.44, "invalidation": "A 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"stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -28.121016, "energy": 17.867862, "activity_lines": [ 35.7, 35.483273, 35.985714, 37.014774 ] }, { "date": "2026-07-17", "close": 43.2, "volume": 5590141, "typical_volume": 2545025.2, "trend": 38.429333, "fair_value": 64.811688, "relative_strength": -6.85856, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": 11.226523, "energy": 18.045854, "activity_lines": [ 38.392667, 36.866, 36.598095, 37.329548 ] }, { "date": "2026-07-24", "close": 42.68, "volume": 3004016, "typical_volume": 2584585.65, "trend": 38.492, "fair_value": 64.343237, "relative_strength": -6.782156, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 29.964663, "energy": 36.489657, "activity_lines": [ 40.35, 38.037091, 37.174286, 37.603785 ] }, { "date": "2026-07-31", "close": 46.3, "volume": 3455581, "typical_volume": 2655914.3, "trend": 38.684667, "fair_value": 63.922299, "relative_strength": 0.738485, "stage": 1, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 43.196735, "energy": 61.835142, "activity_lines": [ 42.840667, 39.735636, 38.082, 38.107527 ] }, { "date": "2026-08-07", "close": 49.12, "volume": 3160500, "typical_volume": 2696197.5, "trend": 38.891667, "fair_value": 63.531561, "relative_strength": 3.992951, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 55.167536, "energy": 75.714676, "activity_lines": [ 45.581333, 41.782, 39.215333, 38.780774 ] } ], "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." } } }