{
  "ticker": {
    "uuid": "9d9dab67-f665-42b3-84b6-f65549f950e3",
    "symbol": "GBTG",
    "name": "Global Business Travel Group 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": 2,
    "stage_name": "Advancing",
    "phase": "2c",
    "phase_label": "Stage 2C \u00b7 Late advance",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 94.818,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Established expansion",
    "architecture_gate": "up",
    "architecture_direction": 78.557,
    "architecture_energy": 92.493,
    "architecture_maturity": 63.0,
    "architecture_confidence": 95.231,
    "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": 0.0,
        "rotation_up": 64.85,
        "upward_expansion": 100.0,
        "deceleration": 39.0,
        "rotation_down": 30.0,
        "downward_expansion": 22.0
      },
      "activity_lines": [
        9.434,
        9.417636,
        9.043333,
        8.320323
      ],
      "activity_state": "Wide",
      "activity_direction": "Expanding",
      "rotation_direction": "Weakening",
      "price_acceptance": 1.0
    },
    "latest_close": 9.46,
    "trend_reference": 7.528,
    "distance_from_trend": 0.256642,
    "trend_direction": "Improving",
    "fair_value": 7.087885,
    "distance_from_fair_value": 0.334672,
    "fair_value_direction": "Weakening",
    "relative_strength": 10.146973,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.686275,
    "excess_performance": 0.56065,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.256642,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.080212,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.334672,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.034779,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.10147,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.110179,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.686275,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 2.726953,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 9453337,
      "relative_activity": 0.614189,
      "balance": 2.726953,
      "dry_up": 0.482591,
      "accumulation_observations": 2,
      "distribution_observations": 0
    },
    "risk": {
      "range_context": 0.007806,
      "annualized_volatility": 0.695303,
      "from_high_reference": -0.008386,
      "from_low_reference": 0.909183
    },
    "levels": {
      "trend_reference": 7.528,
      "fair_value_reference": 7.087885,
      "structural_low": 4.955,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 14,
        "median_return": 0.010083,
        "positive_rate": 0.642857,
        "directional_follow_through": 0.642857,
        "median_excess_return": -0.004889,
        "regime_survival": 0.714286,
        "best_return": 0.199234,
        "worst_return": -0.091781,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 6,
        "median_return": 0.0076,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": -0.038025,
        "regime_survival": 0.333333,
        "best_return": 0.236264,
        "worst_return": -0.183333,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 4,
        "median_return": -0.206187,
        "positive_rate": 0.25,
        "directional_follow_through": 0.25,
        "median_excess_return": -0.262916,
        "regime_survival": 0.25,
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        "worst_return": -0.329238,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 2,
        "median_return": -0.11685,
        "positive_rate": 0.0,
        "directional_follow_through": 0.0,
        "median_excess_return": -0.317906,
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        "best_return": -0.052877,
        "worst_return": -0.180822,
        "sufficient": false
      }
    ],
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        "active": false
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      {
        "regime": "balance",
        "label": "Balance",
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      {
        "regime": "downward_expansion",
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      {
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        "active": false
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      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "tenure": "Developing",
        "return": -0.178771,
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      {
        "regime": "rotation_down",
        "label": "Rotation Down",
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        "active": false
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      {
        "regime": "downward_expansion",
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      },
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      },
      {
        "date": "2026-07-24",
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        "fair_value": 7.054038,
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      },
      {
        "date": "2026-07-31",
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        "typical_volume": 15372550.8,
        "trend": 7.484333,
        "fair_value": 7.072436,
        "relative_strength": 13.835996,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
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        "direction": 69.527653,
        "energy": 72.032342,
        "activity_lines": [
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      },
      {
        "date": "2026-08-07",
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        "volume": 9453337,
        "typical_volume": 15391584.0,
        "trend": 7.528,
        "fair_value": 7.087885,
        "relative_strength": 10.146973,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 78.557069,
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        "activity_lines": [
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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."
    }
  }
}