{ "ticker": { "uuid": "f07abeb1-a5b2-40e7-8320-3135da6a5d27", "symbol": "NA", "name": "National Bank of Canada", "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": 2, "stage_name": "Advancing", "phase": "2b", "phase_label": "Stage 2B \u00b7 Advancing", "transition": "stage_2_healthy", "transition_label": "Stage 2 trend intact", "confidence": 96.0, "architecture_regime": "upward_expansion", "architecture_regime_label": "Upward Expansion", "architecture_modifier": "Established expansion", "architecture_gate": "up", "architecture_direction": 63.514, "architecture_energy": 62.601, "architecture_maturity": 94.714, "architecture_confidence": 74.25, "architecture_tenure": "Established", "architecture": { "interpretation": { "headline": "The weekly architecture is expanding upward.", "body": "Trend and Activity show sustained positive alignment with constructive price acceptance. Directional energy remains positive; cooling within this regime can indicate that it is maturing." }, "scores": { "balance": 19.17, "rotation_up": 54.95, "upward_expansion": 82.77, "deceleration": 71.2, "rotation_down": 24.89, "downward_expansion": 11.77 }, "activity_lines": [ 228.34, 226.089394, 218.144739, 210.004181 ], "activity_state": "Moderate", "activity_direction": "Contracting", "rotation_direction": "Weakening", "price_acceptance": 0.5 }, "latest_close": 227.570007, "trend_reference": 198.340642, "distance_from_trend": 0.14737, "trend_direction": "Improving", "fair_value": 133.520942, "distance_from_fair_value": 0.704377, "fair_value_direction": "Improving", "relative_strength": 12.76605, "relative_strength_direction": "Weakening", "price_momentum": 0.35548, "excess_performance": 0.235059, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.14737, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.101844, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.704377, "read": "Premium" }, { "label": "Fair Value direction", "positive": true, "value": 0.022597, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": true, "value": 0.127661, "read": "Leading" }, { "label": "Relative strength direction", "positive": false, "value": -0.027651, "read": "Weakening" }, { "label": "Price momentum", "positive": true, "value": 0.35548, "read": "Positive" }, { "label": "Volume balance", "positive": true, "value": 1.000552, "read": "Demand-led" } ], "volume": { "latest": 4518000, "relative_activity": 0.899867, "balance": 1.000552, "dry_up": 1.078671, "accumulation_observations": 1, "distribution_observations": 4 }, "risk": { "range_context": 0.037326, "annualized_volatility": 0.20803, "from_high_reference": -0.040315, "from_low_reference": 0.644411 }, "levels": { "trend_reference": 198.340642, "fair_value_reference": 133.520942, "structural_low": 167.63064, 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expansion", "gate": "up", "direction": 85.762816, "energy": 94.056447, "activity_lines": [ 223.649119, 216.921514, 208.800962, 200.919778 ] }, { "date": "2026-07-17", "close": 234.059998, "volume": 5007100, "typical_volume": 5446025.0, "trend": 192.895081, "fair_value": 130.940008, "relative_strength": 21.174968, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 86.645032, "energy": 94.504451, "activity_lines": [ 228.137468, 220.810023, 211.942363, 203.705666 ] }, { "date": "2026-07-24", "close": 227.399994, "volume": 5747700, "typical_volume": 5369385.0, "trend": 194.687135, "fair_value": 131.80028, "relative_strength": 16.850298, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 67.925441, "energy": 85.465876, "activity_lines": [ 228.705329, 222.988429, 214.235098, 205.93179 ] }, { "date": "2026-07-31", "close": 226.75, "volume": 6390100, "typical_volume": 5358830.0, "trend": 196.510814, "fair_value": 132.663645, "relative_strength": 16.482405, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 66.022108, "energy": 65.943024, "activity_lines": [ 228.58733, 224.612354, 216.263826, 208.000362 ] }, { "date": "2026-08-07", "close": 227.570007, "volume": 4518000, "typical_volume": 5020740.0, "trend": 198.340642, "fair_value": 133.520942, "relative_strength": 12.76605, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 63.513515, "energy": 62.600921, "activity_lines": [ 228.34, 226.089394, 218.144739, 210.004181 ] } ], "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." } } }