{ "ticker": { "uuid": "0e3f444d-891b-4cf3-a123-30571b6770fb", "symbol": "IROC", "name": "INVESCO ROCHESTER HIGH YIELD MUNICIPAL ETF", "exchange": "CBOE", "country": "US", "assetType": "etf" }, "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": "SPY", "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": "upward_expansion", "architecture_regime_label": "Upward Expansion", "architecture_modifier": "Established expansion", "architecture_gate": "up", "architecture_direction": 27.38, "architecture_energy": 19.544, "architecture_maturity": 80.311, "architecture_confidence": 78.272, "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": 44.04, "rotation_up": 24.88, "upward_expansion": 56.1, "deceleration": 88.13, "rotation_down": 37.09, "downward_expansion": 22.1 }, "activity_lines": [ 50.594192, 50.706188, 50.632247, 50.526645 ], "activity_state": "Compressed", "activity_direction": "Contracting", "rotation_direction": "Weakening", "price_acceptance": 0.0 }, "latest_close": 50.68, "trend_reference": 50.385123, "distance_from_trend": 0.005852, "trend_direction": "Improving", "fair_value": 47.609317, "distance_from_fair_value": 0.064498, "fair_value_direction": "Weakening", "relative_strength": -9.408993, "relative_strength_direction": "Weakening", "price_momentum": 0.012191, "excess_performance": -0.113434, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.005852, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.008284, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.064498, "read": "Premium" }, { "label": "Fair Value direction", "positive": false, "value": -0.007636, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.09409, "read": "Lagging" }, { "label": "Relative strength direction", "positive": false, "value": -0.007225, "read": "Weakening" }, { "label": "Price momentum", "positive": true, "value": 0.012191, "read": "Positive" }, { "label": "Volume balance", "positive": true, "value": 2.055453, "read": "Demand-led" } ], "volume": { "latest": 359116, "relative_activity": 6.618845, "balance": 2.055453, "dry_up": 2.333384, "accumulation_observations": 2, "distribution_observations": 2 }, "risk": { "range_context": 0.007953, "annualized_volatility": 0.039939, "from_high_reference": -0.011394, "from_low_reference": 0.065797 }, "levels": { "trend_reference": 50.385123, "fair_value_reference": 47.609317, "structural_low": 49.423562, 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"gate": "up", "direction": 58.468175, "energy": 64.914022, "activity_lines": [ 50.69624, 50.550075, 50.404486, 50.295103 ] }, { "date": "2026-06-26", "close": 50.927689, "volume": 25940, "typical_volume": 34514.7, "trend": 50.151511, "fair_value": 47.355993, "relative_strength": -4.777126, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 69.65781, "energy": 69.11202, "activity_lines": [ 50.795729, 50.632745, 50.460794, 50.348134 ] }, { "date": "2026-07-03", "close": 51.066096, "volume": 27356, "typical_volume": 34812.95, "trend": 50.207738, "fair_value": 47.401279, "relative_strength": -6.326586, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 75.023025, "energy": 71.712214, "activity_lines": [ 50.890485, 50.732339, 50.526197, 50.40714 ] }, { "date": "2026-07-10", "close": 50.971402, "volume": 63225, "typical_volume": 36301.0, "trend": 50.259535, "fair_value": 47.444805, "relative_strength": -7.524473, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 66.690449, "energy": 67.592554, "activity_lines": [ 50.93359, 50.800917, 50.579213, 50.456409 ] }, { "date": "2026-07-17", "close": 50.822539, "volume": 40119, "typical_volume": 34229.4, "trend": 50.303609, "fair_value": 47.486252, "relative_strength": -6.161131, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 61.716281, "energy": 55.588173, "activity_lines": [ 50.916838, 50.82999, 50.615534, 50.492731 ] }, { "date": "2026-07-24", "close": 50.464, "volume": 72368, "typical_volume": 36220.0, "trend": 50.333707, "fair_value": 47.525871, "relative_strength": -6.106521, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 41.387123, "energy": 29.446403, "activity_lines": [ 50.772283, 50.787027, 50.617648, 50.503079 ] }, { "date": "2026-07-31", "close": 50.3761, "volume": 34803, "typical_volume": 37378.1, "trend": 50.357123, "fair_value": 47.566535, "relative_strength": -7.037342, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 24.334534, "energy": 15.424342, "activity_lines": [ 50.614201, 50.720903, 50.610806, 50.505814 ] }, { "date": "2026-08-07", "close": 50.68, "volume": 359116, "typical_volume": 54256.6, "trend": 50.385123, "fair_value": 47.609317, "relative_strength": -9.408993, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 27.380381, "energy": 19.544051, "activity_lines": [ 50.594192, 50.706188, 50.632247, 50.526645 ] } ], "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." } } }