{ "ticker": { "uuid": "c4eaf662-a734-43e7-a0e7-ff78a116c1da", "symbol": "SBI", "name": "Western Asset Intermediate Muni Fund Inc", "exchange": "NYSE", "country": "US", "assetType": "etf" }, "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": 3, "stage_name": "Distribution", "phase": "3c", "phase_label": "Stage 3C \u00b7 Breakdown watch", "transition": "stage_3_to_4_watch", "transition_label": "Stage 3 \u2192 4 watch", "confidence": 79.07, "architecture_regime": "balance", "architecture_regime_label": "Balance", "architecture_modifier": "Upper balance after advance", "architecture_gate": "mixed", "architecture_direction": 0.149, "architecture_energy": 10.063, "architecture_maturity": 10.786, "architecture_confidence": 63.298, "architecture_tenure": "New", "architecture": { "interpretation": { "headline": "Directional pressure has compressed into balance.", "body": "Trend and Activity are compressed into balance, so neither side has durable control. Prior structure and the next directional change provide context; balance alone is not assumed to be a base." }, "scores": { "balance": 52.86, "rotation_up": 19.59, "upward_expansion": 28.66, "deceleration": 68.52, "rotation_down": 49.8, "downward_expansion": 27.99 }, "activity_lines": [ 7.682849, 7.720899, 7.718074, 7.709693 ], "activity_state": "Compressed", "activity_direction": "Contracting", "rotation_direction": "Weakening", "price_acceptance": -0.166667 }, "latest_close": 7.67, "trend_reference": 7.700823, "distance_from_trend": -0.004003, "trend_direction": "Improving", "fair_value": 7.14218, "distance_from_fair_value": 0.073902, "fair_value_direction": "Weakening", "relative_strength": -10.282711, "relative_strength_direction": "Weakening", "price_momentum": -0.010397, "excess_performance": -0.136022, "evidence": [ { "label": "Price vs Trend", "positive": false, "value": -0.004003, "read": "Below" }, { "label": "Trend direction", "positive": true, "value": 0.00915, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.073902, "read": "Premium" }, { "label": "Fair Value direction", "positive": false, "value": -0.020495, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.102827, "read": "Lagging" }, { "label": "Relative strength direction", "positive": false, "value": -0.019703, "read": "Weakening" }, { "label": "Price momentum", "positive": false, "value": -0.010397, "read": "Negative" }, { "label": "Volume balance", "positive": false, "value": 0.61898, "read": "Supply-led" } ], "volume": { "latest": 246176, "relative_activity": 1.009504, "balance": 0.61898, "dry_up": 1.247348, "accumulation_observations": 3, "distribution_observations": 4 }, "risk": { "range_context": 0.018154, "annualized_volatility": 0.078023, "from_high_reference": -0.027518, "from_low_reference": 0.078008 }, "levels": { "trend_reference": 7.700823, "fair_value_reference": 7.14218, "structural_low": 7.439047, "invalidation": "A decisive breakout above range resistance with renewed RS leadership invalidates the distribution reading; a range-low break confirms deterioration." }, "outcomes": [ { "horizon": "Near term", "sample_count": 15, "median_return": -0.011688, "positive_rate": 0.4, "directional_follow_through": 0.4, "median_excess_return": 0.007349, "regime_survival": 0.6, "best_return": 0.028391, "worst_return": -0.070232, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 7, "median_return": -0.035153, "positive_rate": 0.428571, "directional_follow_through": 0.428571, "median_excess_return": -0.009265, "regime_survival": 0.142857, "best_return": 0.049596, "worst_return": -0.110321, "sufficient": true }, { "horizon": "Extended", "sample_count": 4, "median_return": -0.052188, "positive_rate": 0.0, "directional_follow_through": 0.0, "median_excess_return": -0.064195, "regime_survival": 0.0, "best_return": -0.008072, "worst_return": -0.152062, "sufficient": false 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"2026-08-07", "close": 7.67, "volume": 246176, "typical_volume": 243858.25, "trend": 7.700823, "fair_value": 7.14218, "relative_strength": -10.282711, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 0.148559, "energy": 10.062982, "activity_lines": [ 7.682849, 7.720899, 7.718074, 7.709693 ] } ], "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." } } }