{ "ticker": { "uuid": "e623d703-6fdc-4f7b-a428-c5edb4745317", "symbol": "MKZ-UN", "name": "Mackenzie Master Limited Partnership", "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": 3, "stage_name": "Distribution", "phase": "3a", "phase_label": "Stage 3A \u00b7 Churning", "transition": "stage_3_churning", "transition_label": "Stage 3 range intact", "confidence": 96.0, "architecture_regime": "deceleration", "architecture_regime_label": "Deceleration", "architecture_modifier": "Recompressing", "architecture_gate": "up", "architecture_direction": 43.167, "architecture_energy": 19.633, "architecture_maturity": 19.343, "architecture_confidence": 64.325, "architecture_tenure": "Developing", "architecture": { "interpretation": { "headline": "The upward structure remains, but its energy is decelerating.", "body": "Trend remains positive, but Activity or price acceptance is losing strength. This can become a healthy recompression, a re-acceleration, or a Rotation Down." }, "scores": { "balance": 41.84, "rotation_up": 44.07, "upward_expansion": 74.41, "deceleration": 59.5, "rotation_down": 21.8, "downward_expansion": 3.41 }, "activity_lines": [ 0.510667, 0.507727, 0.507643, 0.503043 ], "activity_state": "Compressed", "activity_direction": "Contracting", "rotation_direction": "Stable", "price_acceptance": 0.5 }, "latest_close": 0.51, "trend_reference": 0.496167, "distance_from_trend": 0.02788, "trend_direction": "Weakening", "fair_value": 0.358807, "distance_from_fair_value": 0.421377, "fair_value_direction": "Weakening", "relative_strength": -6.952783, "relative_strength_direction": "Weakening", "price_momentum": 0.085106, "excess_performance": -0.035315, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.02788, "read": "Above" }, { "label": "Trend direction", "positive": false, "value": -0.002721, "read": "Falling" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.421377, "read": "Premium" }, { "label": "Fair Value direction", "positive": false, "value": -0.077536, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.069528, "read": "Lagging" }, { "label": "Relative strength direction", "positive": false, "value": -0.073876, "read": "Weakening" }, { "label": "Price momentum", "positive": true, "value": 0.085106, "read": "Positive" }, { "label": "Volume balance", "positive": true, "value": 1.218068, "read": "Demand-led" } ], "volume": { "latest": 9002, "relative_activity": 0.51002, "balance": 1.218068, "dry_up": 1.080619, "accumulation_observations": 2, "distribution_observations": 2 }, "risk": { "range_context": 0.075415, "annualized_volatility": 0.274427, "from_high_reference": -0.12069, "from_low_reference": 0.364162 }, "levels": { "trend_reference": 0.496167, "fair_value_reference": 0.358807, "structural_low": 0.43, "invalidation": "A decisive breakout above 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"relative_strength": -3.818664, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 31.546935, "energy": 16.659887, "activity_lines": [ 0.501, 0.507364, 0.503476, 0.49816 ] }, { "date": "2026-07-10", "close": 0.51, "volume": 10902, "typical_volume": 23569.85, "trend": 0.495227, "fair_value": 0.352492, "relative_strength": -4.031644, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 31.325229, "energy": 16.770173, "activity_lines": [ 0.504333, 0.507545, 0.504667, 0.499074 ] }, { "date": "2026-07-17", "close": 0.51, "volume": 26194, "typical_volume": 24044.7, "trend": 0.494927, "fair_value": 0.354047, "relative_strength": -3.974542, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 35.002176, "energy": 14.956774, "activity_lines": [ 0.506, 0.507364, 0.505619, 0.500028 ] }, { "date": "2026-07-24", "close": 0.5, "volume": 27188, "typical_volume": 19666.35, "trend": 0.494, "fair_value": 0.355634, "relative_strength": -6.144508, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 21.503301, "energy": 11.323464, "activity_lines": [ 0.505, 0.505364, 0.505429, 0.500355 ] }, { "date": "2026-07-31", "close": 0.52, "volume": 13909, "typical_volume": 17685.55, "trend": 0.494333, "fair_value": 0.357233, "relative_strength": -2.008036, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 48.656309, "energy": 22.640018, "activity_lines": [ 0.510667, 0.507364, 0.507071, 0.502032 ] }, { "date": "2026-08-07", "close": 0.51, "volume": 9002, "typical_volume": 17650.3, "trend": 0.496167, "fair_value": 0.358807, "relative_strength": -6.952783, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 43.16658, "energy": 19.633464, "activity_lines": [ 0.510667, 0.507727, 0.507643, 0.503043 ] } ], "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." } } }