{
  "ticker": {
    "uuid": "b7b18969-ca6c-4e14-84d2-ad673830318b",
    "symbol": "RBA",
    "name": "RB Global, Inc.",
    "exchange": "TOR",
    "country": "CA",
    "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": "^GSPTSE",
    "stage": 4,
    "stage_name": "Declining",
    "phase": "4a",
    "phase_label": "Stage 4A \u00b7 Breakdown",
    "transition": "stage_4_declining",
    "transition_label": "Stage 4 decline intact",
    "confidence": 96.0,
    "architecture_regime": "rotation_down",
    "architecture_regime_label": "Rotation Down",
    "architecture_modifier": "Structural failure",
    "architecture_gate": "up",
    "architecture_direction": -2.105,
    "architecture_energy": 13.811,
    "architecture_maturity": 39.868,
    "architecture_confidence": 75.435,
    "architecture_tenure": "New",
    "architecture": {
      "interpretation": {
        "headline": "The Activity Line structure is rotating downward.",
        "body": "Fast Activity is weakening relative to Slow Activity and price acceptance is deteriorating. Persistent negative Trend confirmation would establish Downward Expansion."
      },
      "scores": {
        "balance": 63.47,
        "rotation_up": 15.17,
        "upward_expansion": 54.08,
        "deceleration": 91.13,
        "rotation_down": 37.47,
        "downward_expansion": 20.08
      },
      "activity_lines": [
        147.591335,
        152.109273,
        150.219497,
        147.749858
      ],
      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.0
    },
    "latest_close": 132.070007,
    "trend_reference": 146.475686,
    "distance_from_trend": -0.098349,
    "trend_direction": "Improving",
    "fair_value": 123.429242,
    "distance_from_fair_value": 0.070006,
    "fair_value_direction": "Weakening",
    "relative_strength": -20.039737,
    "relative_strength_direction": "Weakening",
    "price_momentum": -0.173448,
    "excess_performance": -0.293869,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.098349,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.028956,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.070006,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.133273,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.200397,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.057097,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.173448,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.818137,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 2257200,
      "relative_activity": 2.499031,
      "balance": 0.818137,
      "dry_up": 1.429259,
      "accumulation_observations": 3,
      "distribution_observations": 4
    },
    "risk": {
      "range_context": 0.067977,
      "annualized_volatility": 0.356055,
      "from_high_reference": -0.203053,
      "from_low_reference": 0.028583
    },
    "levels": {
      "trend_reference": 146.475686,
      "fair_value_reference": 123.429242,
      "structural_low": 128.399994,
      "invalidation": "Reclaiming a flat-to-rising Trend with improving relative strength is required before the declining diagnosis is repaired."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 6,
        "median_return": 0.009113,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": 0.005246,
        "regime_survival": 0.5,
        "best_return": 0.067629,
        "worst_return": -0.053775,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 3,
        "median_return": 0.1147,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.333333,
        "median_excess_return": 0.022719,
        "regime_survival": 0.0,
        "best_return": 0.16893,
        "worst_return": -0.093201,
        "sufficient": false
      },
      {
        "horizon": "Extended",
        "sample_count": 3,
        "median_return": 0.030194,
        "positive_rate": 1.0,
        "directional_follow_through": 0.0,
        "median_excess_return": 0.008743,
        "regime_survival": 0.0,
        "best_return": 0.146117,
        "worst_return": 0.024063,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 1,
        "median_return": 0.042276,
        "positive_rate": 1.0,
        "directional_follow_through": 0.0,
        "median_excess_return": 0.08898,
        "regime_survival": 0.0,
        "best_return": 0.042276,
        "worst_return": 0.042276,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-01-17",
        "end": "2025-02-14",
        "tenure": "Developing",
        "return": 0.059331,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-02-21",
        "end": "2025-04-04",
        "tenure": "Developing",
        "return": -0.104041,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-04-11",
        "end": "2025-05-16",
        "tenure": "Developing",
        "return": 0.122331,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-05-23",
        "end": "2025-06-20",
        "tenure": "Developing",
        "return": -0.0219,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-06-27",
        "end": "2025-07-11",
        "tenure": "New",
        "return": 0.021676,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-07-18",
        "end": "2025-10-17",
        "tenure": "Established",
        "return": -0.079114,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2025-10-24",
        "end": "2025-11-21",
        "tenure": "Developing",
        "return": -0.048842,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-11-28",
        "end": "2026-01-16",
        "tenure": "Developing",
        "return": 0.14748,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2026-01-23",
        "end": "2026-02-13",
        "tenure": "New",
        "return": -0.120389,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2026-02-20",
        "end": "2026-03-13",
        "tenure": "New",
        "return": -0.042621,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2026-03-20",
        "end": "2026-04-17",
        "tenure": "Developing",
        "return": 0.097503,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2026-04-24",
        "end": "2026-06-19",
        "tenure": "Developing",
        "return": 0.075519,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2026-06-26",
        "end": "2026-07-31",
        "tenure": "Developing",
        "return": -0.060262,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2026-08-07",
        "end": "2026-08-07",
        "tenure": "New",
        "return": 0.0,
        "active": true
      }
    ],
    "chart_path": [
      {
        "date": "2023-08-18",
        "close": 73.671928,
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        "typical_volume": 1963365.0,
        "trend": 74.271844,
        "fair_value": 73.034016,
        "relative_strength": -1.321341,
        "stage": 1,
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        "modifier": "Early expansion",
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        "energy": 18.188634,
        "activity_lines": [
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      },
      {
        "date": "2023-08-25",
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      },
      {
        "date": "2023-09-01",
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      },
      {
        "date": "2023-09-08",
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      },
      {
        "date": "2023-09-15",
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      },
      {
        "date": "2023-09-22",
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      },
      {
        "date": "2023-09-29",
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      },
      {
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      },
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      },
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      },
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      },
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      },
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        "date": "2024-01-05",
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      },
      {
        "date": "2026-04-17",
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        "stage": 4,
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        "energy": 16.812061,
        "activity_lines": [
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      },
      {
        "date": "2026-04-24",
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      },
      {
        "date": "2026-05-01",
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      },
      {
        "date": "2026-05-08",
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        "typical_volume": 1195410.0,
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      },
      {
        "date": "2026-05-15",
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        "typical_volume": 1228160.0,
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      },
      {
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      },
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      },
      {
        "date": "2026-06-05",
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        "trend": 142.558367,
        "fair_value": 118.927154,
        "relative_strength": -10.28893,
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      },
      {
        "date": "2026-06-12",
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        "trend": 142.86686,
        "fair_value": 119.429132,
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      },
      {
        "date": "2026-06-19",
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        "relative_strength": -4.413966,
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      },
      {
        "date": "2026-06-26",
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        "trend": 144.521426,
        "fair_value": 120.541785,
        "relative_strength": 0.179593,
        "stage": 2,
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        "direction": 89.282393,
        "energy": 86.011265,
        "activity_lines": [
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      },
      {
        "date": "2026-07-03",
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        "volume": 120800,
        "typical_volume": 935505.0,
        "trend": 145.398039,
        "fair_value": 121.107105,
        "relative_strength": -0.476376,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
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        "energy": 89.365308,
        "activity_lines": [
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      },
      {
        "date": "2026-07-10",
        "close": 153.100006,
        "volume": 1248000,
        "typical_volume": 916840.0,
        "trend": 145.758627,
        "fair_value": 121.590273,
        "relative_strength": -6.469674,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 66.142597,
        "energy": 79.395175,
        "activity_lines": [
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      },
      {
        "date": "2026-07-17",
        "close": 156.529999,
        "volume": 1035500,
        "typical_volume": 892570.0,
        "trend": 146.217304,
        "fair_value": 122.075476,
        "relative_strength": -3.852318,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 63.327088,
        "energy": 68.834339,
        "activity_lines": [
          157.927333,
          155.248631,
          149.780972,
          147.539591
        ]
      },
      {
        "date": "2026-07-24",
        "close": 157.440002,
        "volume": 765800,
        "typical_volume": 857280.0,
        "trend": 146.683444,
        "fair_value": 122.559861,
        "relative_strength": -3.208227,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 59.61254,
        "energy": 47.997563,
        "activity_lines": [
          157.532001,
          156.231527,
          150.931086,
          148.263636
        ]
      },
      {
        "date": "2026-07-31",
        "close": 153.759995,
        "volume": 1105300,
        "typical_volume": 849970.0,
        "trend": 147.110117,
        "fair_value": 123.063086,
        "relative_strength": -4.647949,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 43.332742,
        "energy": 30.057263,
        "activity_lines": [
          155.847999,
          156.228362,
          151.652693,
          148.720187
        ]
      },
      {
        "date": "2026-08-07",
        "close": 132.070007,
        "volume": 2257200,
        "typical_volume": 903230.0,
        "trend": 146.475686,
        "fair_value": 123.429242,
        "relative_strength": -20.039737,
        "stage": 4,
        "regime": "rotation_down",
        "modifier": "Structural failure",
        "gate": "up",
        "direction": -2.104884,
        "energy": 13.810612,
        "activity_lines": [
          147.591335,
          152.109273,
          150.219497,
          147.749858
        ]
      }
    ],
    "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."
    }
  }
}