{
  "ticker": {
    "uuid": "cfa14716-2993-461f-9357-6d59a0d88124",
    "symbol": "HHH",
    "name": "Howard Hughes Holdings 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": "balance",
    "architecture_regime_label": "Balance",
    "architecture_modifier": "Upper balance after advance",
    "architecture_gate": "down",
    "architecture_direction": -30.483,
    "architecture_energy": 25.027,
    "architecture_maturity": 33.37,
    "architecture_confidence": 60.425,
    "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": 46.85,
        "rotation_up": 12.65,
        "upward_expansion": 17.22,
        "deceleration": 61.14,
        "rotation_down": 54.08,
        "downward_expansion": 60.22
      },
      "activity_lines": [
        66.9,
        68.397455,
        67.270048,
        67.272215
      ],
      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.0
    },
    "latest_close": 67.48,
    "trend_reference": 69.160333,
    "distance_from_trend": -0.024296,
    "trend_direction": "Weakening",
    "fair_value": 72.492144,
    "distance_from_fair_value": -0.069141,
    "fair_value_direction": "Improving",
    "relative_strength": -19.270537,
    "relative_strength_direction": "Improving",
    "price_momentum": -0.177474,
    "excess_performance": -0.303099,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.024296,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.065216,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.069141,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.03162,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.192705,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.023929,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.177474,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.858172,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 2211039,
      "relative_activity": 1.07126,
      "balance": 0.858172,
      "dry_up": 0.90713,
      "accumulation_observations": 4,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.058889,
      "annualized_volatility": 0.297987,
      "from_high_reference": -0.259032,
      "from_low_reference": 0.106106
    },
    "levels": {
      "trend_reference": 69.160333,
      "fair_value_reference": 72.492144,
      "structural_low": 61.006814,
      "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": 18,
        "median_return": -0.005126,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": -0.001281,
        "regime_survival": 0.444444,
        "best_return": 0.109579,
        "worst_return": -0.222276,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 10,
        "median_return": 0.01837,
        "positive_rate": 0.6,
        "directional_follow_through": 0.6,
        "median_excess_return": 0.006417,
        "regime_survival": 0.2,
        "best_return": 0.186649,
        "worst_return": -0.21181,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 7,
        "median_return": -0.036995,
        "positive_rate": 0.428571,
        "directional_follow_through": 0.428571,
        "median_excess_return": 0.011512,
        "regime_survival": 0.142857,
        "best_return": 0.126764,
        "worst_return": -0.211783,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 4,
        "median_return": 0.016734,
        "positive_rate": 0.75,
        "directional_follow_through": 0.75,
        "median_excess_return": -0.142472,
        "regime_survival": 0.25,
        "best_return": 0.052428,
        "worst_return": -0.272591,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2024-08-16",
        "end": "2024-09-06",
        "tenure": "New",
        "return": 0.012927,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-09-13",
        "end": "2024-12-27",
        "tenure": "Established",
        "return": 0.012815,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-01-03",
        "end": "2025-02-21",
        "tenure": "Developing",
        "return": -0.042887,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-02-28",
        "end": "2025-04-04",
        "tenure": "Developing",
        "return": -0.14899,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-04-11",
        "end": "2025-07-04",
        "tenure": "Established",
        "return": 0.056578,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "tenure": "Developing",
        "return": 0.070173,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
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        "end": "2025-09-12",
        "tenure": "New",
        "return": 0.069228,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-09-19",
        "end": "2025-10-31",
        "tenure": "Developing",
        "return": -0.043436,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "end": "2025-11-14",
        "tenure": "New",
        "return": 0.072918,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
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        "end": "2026-01-09",
        "tenure": "Developing",
        "return": -0.023176,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2026-01-16",
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        "tenure": "Developing",
        "return": -0.170213,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2026-03-13",
        "end": "2026-07-03",
        "tenure": "Established",
        "return": 0.161528,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
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        "tenure": "New",
        "return": -0.112838,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
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        "tenure": "New",
        "return": 0.0,
        "active": true
      }
    ],
    "chart_path": [
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        "date": "2026-05-08",
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      },
      {
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      },
      {
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        "stage": 4,
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        "gate": "mixed",
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      },
      {
        "date": "2026-07-17",
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        "typical_volume": 2269614.65,
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        "relative_strength": -13.580731,
        "stage": 4,
        "regime": "rotation_up",
        "modifier": "Emerging rotation",
        "gate": "mixed",
        "direction": 24.001959,
        "energy": 50.447266,
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          71.602,
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      },
      {
        "date": "2026-07-24",
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        "typical_volume": 2237516.8,
        "trend": 70.161,
        "fair_value": 72.638629,
        "relative_strength": -18.212487,
        "stage": 4,
        "regime": "rotation_up",
        "modifier": "Emerging rotation",
        "gate": "down",
        "direction": -10.28008,
        "energy": 20.886081,
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      },
      {
        "date": "2026-07-31",
        "close": 63.92,
        "volume": 1950562,
        "typical_volume": 2101753.45,
        "trend": 69.664667,
        "fair_value": 72.540869,
        "relative_strength": -21.202439,
        "stage": 4,
        "regime": "rotation_up",
        "modifier": "Emerging rotation",
        "gate": "down",
        "direction": -42.485331,
        "energy": 23.350277,
        "activity_lines": [
          67.500667,
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      },
      {
        "date": "2026-08-07",
        "close": 67.48,
        "volume": 2211039,
        "typical_volume": 2063960.85,
        "trend": 69.160333,
        "fair_value": 72.492144,
        "relative_strength": -19.270537,
        "stage": 4,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "down",
        "direction": -30.483038,
        "energy": 25.026712,
        "activity_lines": [
          66.9,
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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."
    }
  }
}