{
  "ticker": {
    "uuid": "f158fe20-068d-4870-b9bc-d66d1e6f9b5c",
    "symbol": "EMA",
    "name": "Emera Incorporated",
    "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": "3c",
    "phase_label": "Stage 3C \u00b7 Breakdown watch",
    "transition": "stage_3_to_4_watch",
    "transition_label": "Stage 3 \u2192 4 watch",
    "confidence": 96.0,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Established expansion",
    "architecture_gate": "up",
    "architecture_direction": 21.304,
    "architecture_energy": 19.328,
    "architecture_maturity": 92.753,
    "architecture_confidence": 45.24,
    "architecture_tenure": "Extended",
    "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": 42.81,
        "rotation_up": 36.64,
        "upward_expansion": 66.27,
        "deceleration": 62.16,
        "rotation_down": 26.72,
        "downward_expansion": 16.27
      },
      "activity_lines": [
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        73.011484
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      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.5
    },
    "latest_close": 70.879997,
    "trend_reference": 71.725745,
    "distance_from_trend": -0.011791,
    "trend_direction": "Improving",
    "fair_value": 54.926961,
    "distance_from_fair_value": 0.290441,
    "fair_value_direction": "Weakening",
    "relative_strength": -8.38894,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.062851,
    "excess_performance": -0.057571,
    "evidence": [
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        "label": "Price vs Trend",
        "positive": false,
        "value": -0.011791,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.042192,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.290441,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.077263,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.083889,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.061588,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.062851,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.758124,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 5767800,
      "relative_activity": 1.207383,
      "balance": 0.758124,
      "dry_up": 1.185958,
      "accumulation_observations": 3,
      "distribution_observations": 4
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    "risk": {
      "range_context": 0.032419,
      "annualized_volatility": 0.16209,
      "from_high_reference": -0.08229,
      "from_low_reference": 0.158399
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    "levels": {
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      "fair_value_reference": 54.926961,
      "structural_low": 65.045375,
      "invalidation": "A decisive breakout above range resistance with renewed RS leadership invalidates the distribution reading; a range-low break confirms deterioration."
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    "outcomes": [
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        "horizon": "Near term",
        "sample_count": 36,
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        "positive_rate": 0.583333,
        "directional_follow_through": 0.583333,
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      {
        "date": "2026-04-17",
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      },
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        "date": "2026-06-12",
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      {
        "date": "2026-06-26",
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      },
      {
        "date": "2026-07-03",
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      {
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      },
      {
        "date": "2026-07-17",
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        "typical_volume": 4631545.0,
        "trend": 70.920972,
        "fair_value": 54.356988,
        "relative_strength": 1.339265,
        "stage": 2,
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        "modifier": "Established expansion",
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        "direction": 79.709523,
        "energy": 79.069563,
        "activity_lines": [
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          72.445986
        ]
      },
      {
        "date": "2026-07-24",
        "close": 76.770264,
        "volume": 4899000,
        "typical_volume": 4583205.0,
        "trend": 71.291776,
        "fair_value": 54.555113,
        "relative_strength": 1.538103,
        "stage": 2,
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        "modifier": "Established expansion",
        "gate": "up",
        "direction": 76.52355,
        "energy": 75.956009,
        "activity_lines": [
          75.923207,
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      },
      {
        "date": "2026-07-31",
        "close": 74.910004,
        "volume": 7135300,
        "typical_volume": 4764190.0,
        "trend": 71.582292,
        "fair_value": 54.755407,
        "relative_strength": -0.353704,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 62.702848,
        "energy": 50.796555,
        "activity_lines": [
          75.682084,
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        ]
      },
      {
        "date": "2026-08-07",
        "close": 70.879997,
        "volume": 5767800,
        "typical_volume": 4777110.0,
        "trend": 71.725745,
        "fair_value": 54.926961,
        "relative_strength": -8.38894,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 21.30394,
        "energy": 19.328247,
        "activity_lines": [
          74.136475,
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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."
    }
  }
}