{
  "ticker": {
    "uuid": "a03cdaef-84cf-40f3-bb1f-3f765997f87f",
    "symbol": "AGM-A",
    "name": "Federal Agricultural Mortgage 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": 2,
    "stage_name": "Advancing",
    "phase": "2b",
    "phase_label": "Stage 2B \u00b7 Advancing",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 96.0,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Established expansion",
    "architecture_gate": "up",
    "architecture_direction": 94.262,
    "architecture_energy": 77.251,
    "architecture_maturity": 45.818,
    "architecture_confidence": 65.319,
    "architecture_tenure": "Established",
    "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": 3.33,
        "rotation_up": 84.56,
        "upward_expansion": 88.22,
        "deceleration": 52.98,
        "rotation_down": 9.93,
        "downward_expansion": 12.55
      },
      "activity_lines": [
        155.075333,
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        143.610576,
        138.619374
      ],
      "activity_state": "Wide",
      "activity_direction": "Stable",
      "rotation_direction": "Improving",
      "price_acceptance": 0.833333
    },
    "latest_close": 166.03,
    "trend_reference": 133.065735,
    "distance_from_trend": 0.247729,
    "trend_direction": "Improving",
    "fair_value": 131.416712,
    "distance_from_fair_value": 0.263386,
    "fair_value_direction": "Improving",
    "relative_strength": 13.562051,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.339412,
    "excess_performance": 0.213788,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.247729,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.049585,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.263386,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.224455,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.135621,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.20007,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.339412,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.546913,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 3595,
      "relative_activity": 1.060738,
      "balance": 1.546913,
      "dry_up": 2.125164,
      "accumulation_observations": 6,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.038607,
      "annualized_volatility": 0.319043,
      "from_high_reference": -0.056648,
      "from_low_reference": 0.469179
    },
    "levels": {
      "trend_reference": 133.065735,
      "fair_value_reference": 131.416712,
      "structural_low": 113.685714,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 25,
        "median_return": 0.020966,
        "positive_rate": 0.68,
        "directional_follow_through": 0.68,
        "median_excess_return": 0.020478,
        "regime_survival": 0.64,
        "best_return": 0.183287,
        "worst_return": -0.114476,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 10,
        "median_return": 0.040015,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": 0.015018,
        "regime_survival": 0.5,
        "best_return": 0.321678,
        "worst_return": -0.201955,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 5,
        "median_return": 0.101004,
        "positive_rate": 0.8,
        "directional_follow_through": 0.8,
        "median_excess_return": -0.018192,
        "regime_survival": 0.0,
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        "worst_return": -0.109613,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 4,
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        "directional_follow_through": 0.75,
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        "worst_return": -0.13556,
        "sufficient": false
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        "regime": "deceleration",
        "label": "Deceleration",
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      },
      {
        "regime": "balance",
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      {
        "regime": "downward_expansion",
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        "regime": "downward_expansion",
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        "tenure": "New",
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        "regime": "rotation_up",
        "label": "Rotation Up",
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        "active": true
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        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "up",
        "direction": 48.920379,
        "energy": 32.943839,
        "activity_lines": [
          126.728267,
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          124.735723
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      },
      {
        "date": "2026-05-01",
        "close": 132.191771,
        "volume": 1232,
        "typical_volume": 4390.6,
        "trend": 124.50723,
        "fair_value": 128.490909,
        "relative_strength": -5.8327,
        "stage": 2,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "up",
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        "energy": 43.528487,
        "activity_lines": [
          129.437611,
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      },
      {
        "date": "2026-05-08",
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        "volume": 3716,
        "typical_volume": 4385.35,
        "trend": 125.054185,
        "fair_value": 128.741838,
        "relative_strength": -6.444992,
        "stage": 2,
        "regime": "balance",
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        "energy": 61.885975,
        "activity_lines": [
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      },
      {
        "date": "2026-05-15",
        "close": 135.557857,
        "volume": 914,
        "typical_volume": 4395.7,
        "trend": 125.749485,
        "fair_value": 128.957107,
        "relative_strength": -4.928493,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 73.410137,
        "energy": 75.729357,
        "activity_lines": [
          133.423228,
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      },
      {
        "date": "2026-05-22",
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        "volume": 1673,
        "typical_volume": 4417.25,
        "trend": 126.183256,
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        "relative_strength": -7.485975,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
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        "direction": 64.2063,
        "energy": 73.296504,
        "activity_lines": [
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      },
      {
        "date": "2026-05-29",
        "close": 133.684514,
        "volume": 4404,
        "typical_volume": 4558.55,
        "trend": 126.779411,
        "fair_value": 129.318867,
        "relative_strength": -7.539061,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
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        "activity_lines": [
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      },
      {
        "date": "2026-06-05",
        "close": 138.993143,
        "volume": 2831,
        "typical_volume": 3297.8,
        "trend": 127.45272,
        "fair_value": 129.492647,
        "relative_strength": -1.165403,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 81.655953,
        "energy": 79.883992,
        "activity_lines": [
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      },
      {
        "date": "2026-06-12",
        "close": 138.4,
        "volume": 842,
        "typical_volume": 3025.45,
        "trend": 127.911381,
        "fair_value": 129.678026,
        "relative_strength": -1.802113,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 73.741456,
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      },
      {
        "date": "2026-06-19",
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        "typical_volume": 3276.4,
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        "fair_value": 129.886482,
        "relative_strength": 0.056635,
        "stage": 2,
        "regime": "upward_expansion",
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        "gate": "up",
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        "energy": 88.901744,
        "activity_lines": [
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      },
      {
        "date": "2026-06-26",
        "close": 143.81,
        "volume": 3443,
        "typical_volume": 3343.5,
        "trend": 129.089329,
        "fair_value": 130.114896,
        "relative_strength": 4.040408,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 80.891122,
        "energy": 88.999309,
        "activity_lines": [
          140.928053,
          138.218827,
          133.145279,
          130.842318
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      },
      {
        "date": "2026-07-03",
        "close": 143.81,
        "volume": 910,
        "typical_volume": 3242.8,
        "trend": 129.632815,
        "fair_value": 130.34331,
        "relative_strength": 2.177109,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 76.445678,
        "energy": 88.701918,
        "activity_lines": [
          142.405543,
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          134.511252,
          131.792039
        ]
      },
      {
        "date": "2026-07-10",
        "close": 146.05,
        "volume": 5477,
        "typical_volume": 3193.45,
        "trend": 129.897483,
        "fair_value": 130.572896,
        "relative_strength": 2.520017,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 80.35561,
        "energy": 90.744273,
        "activity_lines": [
          143.954667,
          141.120891,
          136.027071,
          132.851212
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      },
      {
        "date": "2026-07-17",
        "close": 144.5,
        "volume": 18673,
        "typical_volume": 3858.0,
        "trend": 130.466741,
        "fair_value": 130.764069,
        "relative_strength": 3.122277,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 66.618765,
        "energy": 67.917467,
        "activity_lines": [
          144.516667,
          142.147657,
          137.251071,
          133.79331
        ]
      },
      {
        "date": "2026-07-24",
        "close": 147.95,
        "volume": 2683,
        "typical_volume": 3727.45,
        "trend": 131.084627,
        "fair_value": 130.965706,
        "relative_strength": 6.172497,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 77.615674,
        "energy": 78.041377,
        "activity_lines": [
          145.822,
          143.60631,
          138.698849,
          134.921262
        ]
      },
      {
        "date": "2026-07-31",
        "close": 154.27,
        "volume": 3859,
        "typical_volume": 3778.6,
        "trend": 131.894635,
        "fair_value": 131.185404,
        "relative_strength": 9.421114,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 88.311138,
        "energy": 74.049684,
        "activity_lines": [
          148.837333,
          145.988742,
          140.662215,
          136.417092
        ]
      },
      {
        "date": "2026-08-07",
        "close": 166.03,
        "volume": 3595,
        "typical_volume": 3389.15,
        "trend": 133.065735,
        "fair_value": 131.416712,
        "relative_strength": 13.562051,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 94.261959,
        "energy": 77.251076,
        "activity_lines": [
          155.075333,
          150.112966,
          143.610576,
          138.619374
        ]
      }
    ],
    "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."
    }
  }
}