{
  "ticker": {
    "uuid": "e7042913-d309-4f9d-9ea7-a4fe16a19e88",
    "symbol": "IBM",
    "name": "International Business Machines Corporation",
    "exchange": "BUE",
    "country": "AR",
    "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": "2026-08-21",
    "benchmark": "^MERV",
    "stage": 4,
    "stage_name": "Declining",
    "phase": "4a",
    "phase_label": "Stage 4A \u00b7 Breakdown",
    "transition": "stage_4_declining",
    "transition_label": "Stage 4 decline intact",
    "confidence": 93.698,
    "architecture_regime": "balance",
    "architecture_regime_label": "Balance",
    "architecture_modifier": "Upper balance after advance",
    "architecture_gate": "mixed",
    "architecture_direction": -21.588,
    "architecture_energy": 20.102,
    "architecture_maturity": 10.847,
    "architecture_confidence": 58.205,
    "architecture_tenure": "Developing",
    "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": 57.47,
        "rotation_up": 20.19,
        "upward_expansion": 8.44,
        "deceleration": 54.51,
        "rotation_down": 49.69,
        "downward_expansion": 45.44
      },
      "activity_lines": [
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        25530.827786,
        25294.467143
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      "activity_state": "Compressed",
      "activity_direction": "Stable",
      "rotation_direction": "Weakening",
      "price_acceptance": -0.5
    },
    "latest_close": 25080.0,
    "trend_reference": 25348.45162,
    "distance_from_trend": -0.01059,
    "trend_direction": "Weakening",
    "fair_value": 22266.061998,
    "distance_from_fair_value": 0.126378,
    "fair_value_direction": "Weakening",
    "relative_strength": -13.541184,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.010073,
    "excess_performance": -0.003826,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.01059,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.061835,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.126378,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.052213,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.135412,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.02147,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.010073,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 2.781326,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 144424,
      "relative_activity": 0.67488,
      "balance": 2.781326,
      "dry_up": 2.085118,
      "accumulation_observations": 4,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.103186,
      "annualized_volatility": 0.627423,
      "from_high_reference": -0.224959,
      "from_low_reference": 0.212228
    },
    "levels": {
      "trend_reference": 25348.45162,
      "fair_value_reference": 22266.061998,
      "structural_low": 20689.169285,
      "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": 8,
        "median_return": 0.086264,
        "positive_rate": 1.0,
        "directional_follow_through": 1.0,
        "median_excess_return": 0.118755,
        "regime_survival": 0.5,
        "best_return": 0.137117,
        "worst_return": 0.013617,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 4,
        "median_return": 0.151379,
        "positive_rate": 1.0,
        "directional_follow_through": 1.0,
        "median_excess_return": 0.019605,
        "regime_survival": 0.0,
        "best_return": 0.38081,
        "worst_return": 0.011043,
        "sufficient": false
      },
      {
        "horizon": "Extended",
        "sample_count": 4,
        "median_return": 0.398286,
        "positive_rate": 1.0,
        "directional_follow_through": 1.0,
        "median_excess_return": -0.042185,
        "regime_survival": 0.25,
        "best_return": 0.631262,
        "worst_return": 0.068586,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 2,
        "median_return": 0.744657,
        "positive_rate": 1.0,
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        "median_excess_return": 0.088107,
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        "worst_return": 0.535728,
        "sufficient": false
      }
    ],
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        "regime": "balance",
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        "color": "blue",
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        "end": "2024-07-12",
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        "active": false
      },
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        "regime": "rotation_up",
        "label": "Rotation Up",
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        "return": 0.026201,
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      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
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        "end": "2025-01-31",
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        "active": false
      },
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        "regime": "upward_expansion",
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        "active": false
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        "active": false
      },
      {
        "regime": "deceleration",
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      },
      {
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      },
      {
        "date": "2026-08-07",
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        "typical_volume": 177751.2,
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      },
      {
        "date": "2026-08-14",
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        "volume": 597063,
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        "trend": 25494.442961,
        "fair_value": 22249.215143,
        "relative_strength": -16.197235,
        "stage": 4,
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        "modifier": "Upper balance after advance",
        "gate": "mixed",
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        "energy": 31.954732,
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      },
      {
        "date": "2026-08-21",
        "close": 25080.0,
        "volume": 144424,
        "typical_volume": 213999.5,
        "trend": 25348.45162,
        "fair_value": 22266.061998,
        "relative_strength": -13.541184,
        "stage": 4,
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        "modifier": "Upper balance after advance",
        "gate": "mixed",
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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."
    }
  }
}