{
  "ticker": {
    "uuid": "97a4e690-fad9-4dff-9e76-e6b77622739a",
    "symbol": "BBW",
    "name": "Build-A-Bear Workshop 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": 4,
    "stage_name": "Declining",
    "phase": "4b",
    "phase_label": "Stage 4B \u00b7 Declining",
    "transition": "stage_4_declining",
    "transition_label": "Stage 4 decline intact",
    "confidence": 96.0,
    "architecture_regime": "downward_expansion",
    "architecture_regime_label": "Downward Expansion",
    "architecture_modifier": "Established contraction",
    "architecture_gate": "down",
    "architecture_direction": -28.192,
    "architecture_energy": 17.145,
    "architecture_maturity": 100.0,
    "architecture_confidence": 70.831,
    "architecture_tenure": "Established",
    "architecture": {
      "interpretation": {
        "headline": "The weekly architecture is expanding downward.",
        "body": "Trend and Activity show sustained negative alignment with weak price acceptance. Repair requires persistent improvement across the structure, not merely one strong observation."
      },
      "scores": {
        "balance": 45.71,
        "rotation_up": 30.7,
        "upward_expansion": 21.35,
        "deceleration": 44.09,
        "rotation_down": 21.86,
        "downward_expansion": 55.35
      },
      "activity_lines": [
        34.917333,
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        34.459562,
        36.351408
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      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Improving",
      "price_acceptance": 0.0
    },
    "latest_close": 36.86,
    "trend_reference": 40.921765,
    "distance_from_trend": -0.099257,
    "trend_direction": "Weakening",
    "fair_value": 37.509834,
    "distance_from_fair_value": -0.017324,
    "fair_value_direction": "Weakening",
    "relative_strength": -32.544498,
    "relative_strength_direction": "Improving",
    "price_momentum": -0.331068,
    "excess_performance": -0.456693,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.099257,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.14588,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.017324,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.063746,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.325445,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.02329,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.331068,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.277404,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 1684339,
      "relative_activity": 0.940341,
      "balance": 1.277404,
      "dry_up": 0.823157,
      "accumulation_observations": 3,
      "distribution_observations": 3
    },
    "risk": {
      "range_context": 0.089406,
      "annualized_volatility": 0.420103,
      "from_high_reference": -0.507598,
      "from_low_reference": 0.255877
    },
    "levels": {
      "trend_reference": 40.921765,
      "fair_value_reference": 37.509834,
      "structural_low": 29.35,
      "invalidation": "Reclaiming a flat-to-rising Trend with improving relative strength is required before the declining diagnosis is repaired."
    },
    "outcomes": [
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        "horizon": "Near term",
        "sample_count": 13,
        "median_return": 0.033037,
        "positive_rate": 0.615385,
        "directional_follow_through": 0.384615,
        "median_excess_return": 0.022845,
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        "best_return": 0.313578,
        "worst_return": -0.1517,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 5,
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        "positive_rate": 0.6,
        "directional_follow_through": 0.4,
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        "regime_survival": 0.4,
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        "worst_return": -0.19887,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 3,
        "median_return": 0.233624,
        "positive_rate": 1.0,
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        "median_excess_return": 0.109503,
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        "sufficient": false
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      {
        "horizon": "Full cycle",
        "sample_count": 2,
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        "worst_return": 0.108977,
        "sufficient": false
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      {
        "regime": "deceleration",
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      {
        "regime": "rotation_down",
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      },
      {
        "date": "2026-07-17",
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        "typical_volume": 2036105.35,
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      },
      {
        "date": "2026-07-24",
        "close": 33.7,
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        "typical_volume": 1995725.15,
        "trend": 42.809212,
        "fair_value": 37.360177,
        "relative_strength": -36.558857,
        "stage": 4,
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        "modifier": "Established contraction",
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        "energy": 35.730864,
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      },
      {
        "date": "2026-07-31",
        "close": 33.92,
        "volume": 1201859,
        "typical_volume": 1864319.15,
        "trend": 41.918549,
        "fair_value": 37.430311,
        "relative_strength": -36.260529,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -40.684164,
        "energy": 27.291714,
        "activity_lines": [
          33.808667,
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        ]
      },
      {
        "date": "2026-08-07",
        "close": 36.86,
        "volume": 1684339,
        "typical_volume": 1791200.95,
        "trend": 40.921765,
        "fair_value": 37.509834,
        "relative_strength": -32.544498,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -28.191662,
        "energy": 17.144558,
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          34.917333,
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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."
    }
  }
}