{
  "ticker": {
    "uuid": "fef373b5-80a0-4165-b299-994d5adb942b",
    "symbol": "REGN",
    "name": "Regeneron Pharmaceuticals, Inc.",
    "exchange": "MEX",
    "country": "MX",
    "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": "^MXX",
    "stage": 4,
    "stage_name": "Declining",
    "phase": "4c",
    "phase_label": "Stage 4C \u00b7 Repair watch",
    "transition": "stage_4_to_1_watch",
    "transition_label": "Stage 4 \u2192 1 repair watch",
    "confidence": 50.707,
    "architecture_regime": "rotation_up",
    "architecture_regime_label": "Rotation Up",
    "architecture_modifier": "Emerging rotation",
    "architecture_gate": "down",
    "architecture_direction": 26.347,
    "architecture_energy": 43.056,
    "architecture_maturity": 36.33,
    "architecture_confidence": 53.341,
    "architecture_tenure": "New",
    "architecture": {
      "interpretation": {
        "headline": "The Activity Line structure is rotating upward.",
        "body": "Fast Activity is improving relative to Slow Activity and price acceptance is strengthening. This is earlier than full positive Trend confirmation and remains a developing repair."
      },
      "scores": {
        "balance": 47.84,
        "rotation_up": 54.83,
        "upward_expansion": 33.09,
        "deceleration": 47.33,
        "rotation_down": 14.0,
        "downward_expansion": 50.42
      },
      "activity_lines": [
        11949.596094,
        11457.45103,
        11454.437328,
        11820.913953
      ],
      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Improving",
      "price_acceptance": 0.333333
    },
    "latest_close": 12692.0,
    "trend_reference": 12332.873926,
    "distance_from_trend": 0.029119,
    "trend_direction": "Weakening",
    "fair_value": 14276.361672,
    "distance_from_fair_value": -0.110978,
    "fair_value_direction": "Improving",
    "relative_strength": 2.113599,
    "relative_strength_direction": "Improving",
    "price_momentum": -0.058589,
    "excess_performance": -0.003922,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.029119,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.054658,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.110978,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.039726,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.021136,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.094515,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.058589,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.219697,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 0,
      "relative_activity": 0.0,
      "balance": 0.219697,
      "dry_up": 0.032988,
      "accumulation_observations": 0,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.028667,
      "annualized_volatility": 0.34314,
      "from_high_reference": -0.110799,
      "from_low_reference": 0.244701
    },
    "levels": {
      "trend_reference": 12332.873926,
      "fair_value_reference": 14276.361672,
      "structural_low": 10520.0,
      "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": 0.0214,
        "positive_rate": 0.625,
        "directional_follow_through": 0.625,
        "median_excess_return": 0.002158,
        "regime_survival": 0.5,
        "best_return": 0.170227,
        "worst_return": -0.100022,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 4,
        "median_return": -0.015347,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": -0.06971,
        "regime_survival": 0.0,
        "best_return": 0.200044,
        "worst_return": -0.171858,
        "sufficient": false
      },
      {
        "horizon": "Extended",
        "sample_count": 4,
        "median_return": 0.038347,
        "positive_rate": 0.75,
        "directional_follow_through": 0.75,
        "median_excess_return": -0.043952,
        "regime_survival": 0.25,
        "best_return": 0.161097,
        "worst_return": -0.063368,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 2,
        "median_return": 0.29654,
        "positive_rate": 1.0,
        "directional_follow_through": 1.0,
        "median_excess_return": 0.252024,
        "regime_survival": 0.5,
        "best_return": 0.5869,
        "worst_return": 0.006181,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-10-11",
        "end": "2024-11-01",
        "tenure": "New",
        "return": -0.130133,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2024-11-08",
        "end": "2024-12-06",
        "tenure": "Developing",
        "return": -0.045903,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-12-13",
        "end": "2025-08-22",
        "tenure": "Extended",
        "return": -0.261981,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-08-29",
        "end": "2025-09-26",
        "tenure": "Developing",
        "return": -0.029766,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2025-10-03",
        "end": "2025-10-10",
        "tenure": "New",
        "return": -0.072068,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-10-17",
        "end": "2025-10-24",
        "tenure": "New",
        "return": -0.020284,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
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        "end": "2025-11-07",
        "tenure": "New",
        "return": -0.003688,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-11-14",
        "end": "2026-02-13",
        "tenure": "Established",
        "return": 0.109418,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2026-02-20",
        "end": "2026-03-06",
        "tenure": "New",
        "return": 0.040403,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2026-03-13",
        "end": "2026-03-27",
        "tenure": "New",
        "return": -0.048659,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2026-04-03",
        "end": "2026-04-03",
        "tenure": "New",
        "return": 0.0,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2026-04-10",
        "end": "2026-05-22",
        "tenure": "Developing",
        "return": -0.154223,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2026-05-29",
        "end": "2026-07-24",
        "tenure": "Developing",
        "return": -0.023609,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
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        "tenure": "New",
        "return": 0.0,
        "active": true
      }
    ],
    "chart_path": [
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      },
      {
        "date": "2026-07-03",
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      },
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      },
      {
        "date": "2026-07-17",
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        "trend": 12481.328613,
        "fair_value": 14289.372878,
        "relative_strength": -12.466716,
        "stage": 4,
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        "energy": 62.370689,
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      },
      {
        "date": "2026-07-24",
        "close": 10835.990234,
        "volume": 0,
        "typical_volume": 106.35,
        "trend": 12390.599056,
        "fair_value": 14280.087841,
        "relative_strength": -11.974973,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
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        "activity_lines": [
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      },
      {
        "date": "2026-07-31",
        "close": 12692.0,
        "volume": 14,
        "typical_volume": 107.05,
        "trend": 12361.736491,
        "fair_value": 14282.700302,
        "relative_strength": 2.213415,
        "stage": 4,
        "regime": "rotation_up",
        "modifier": "Structural repair",
        "gate": "down",
        "direction": -4.633577,
        "energy": 21.918846,
        "activity_lines": [
          11454.660156,
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      },
      {
        "date": "2026-08-07",
        "close": 12692.0,
        "volume": 0,
        "typical_volume": 106.1,
        "trend": 12332.873926,
        "fair_value": 14276.361672,
        "relative_strength": 2.113599,
        "stage": 4,
        "regime": "rotation_up",
        "modifier": "Emerging rotation",
        "gate": "down",
        "direction": 26.346905,
        "energy": 43.056452,
        "activity_lines": [
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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."
    }
  }
}