{
  "ticker": {
    "uuid": "18951d8f-f4c6-449a-a382-55fa05c2c1b2",
    "symbol": "ETON",
    "name": "Eton Pharmaceuticals Inc",
    "exchange": "NASDAQ",
    "country": "US",
    "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": "QQQ",
    "stage": 2,
    "stage_name": "Advancing",
    "phase": "2c",
    "phase_label": "Stage 2C \u00b7 Late advance",
    "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": 73.224,
    "architecture_energy": 83.6,
    "architecture_maturity": 56.0,
    "architecture_confidence": 83.497,
    "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": 2.94,
        "rotation_up": 82.37,
        "upward_expansion": 97.2,
        "deceleration": 41.12,
        "rotation_down": 10.06,
        "downward_expansion": 19.2
      },
      "activity_lines": [
        43.846667,
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        36.277381,
        32.562731
      ],
      "activity_state": "Wide",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 1.0
    },
    "latest_close": 44.6,
    "trend_reference": 27.446,
    "distance_from_trend": 0.625009,
    "trend_direction": "Improving",
    "fair_value": 13.30766,
    "distance_from_fair_value": 2.351453,
    "fair_value_direction": "Improving",
    "relative_strength": 71.336814,
    "relative_strength_direction": "Improving",
    "price_momentum": 2.02168,
    "excess_performance": 1.834227,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.625009,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.352531,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 2.351453,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.545599,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.713368,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.350623,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 2.02168,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 2.809569,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 2011663,
      "relative_activity": 0.923727,
      "balance": 2.809569,
      "dry_up": 1.270732,
      "accumulation_observations": 5,
      "distribution_observations": 0
    },
    "risk": {
      "range_context": 0.10065,
      "annualized_volatility": 0.556129,
      "from_high_reference": -0.1112,
      "from_low_reference": 2.125438
    },
    "levels": {
      "trend_reference": 27.446,
      "fair_value_reference": 13.30766,
      "structural_low": 14.49,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 25,
        "median_return": 0.020408,
        "positive_rate": 0.6,
        "directional_follow_through": 0.6,
        "median_excess_return": -0.008863,
        "regime_survival": 0.72,
        "best_return": 0.54059,
        "worst_return": -0.25,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 10,
        "median_return": 0.090812,
        "positive_rate": 0.6,
        "directional_follow_through": 0.6,
        "median_excess_return": 0.031297,
        "regime_survival": 0.5,
        "best_return": 1.319188,
        "worst_return": -0.217391,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 5,
        "median_return": 0.237589,
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        "median_excess_return": -0.153798,
        "regime_survival": 0.2,
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        "worst_return": -0.21968,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
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        "directional_follow_through": 1.0,
        "median_excess_return": 0.004651,
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        "worst_return": 0.150298,
        "sufficient": false
      }
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        "regime": "upward_expansion",
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      {
        "regime": "deceleration",
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        "tenure": "Developing",
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      {
        "regime": "deceleration",
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        "active": false
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        "regime": "balance",
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        "active": false
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        "regime": "rotation_down",
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        "date": "2026-05-01",
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        "date": "2026-06-05",
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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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      },
      {
        "date": "2026-07-10",
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        "typical_volume": 2005407.25,
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        "fair_value": 12.255609,
        "relative_strength": 51.715021,
        "stage": 2,
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        "energy": 80.15942,
        "activity_lines": [
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      },
      {
        "date": "2026-07-17",
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        "volume": 3079018,
        "typical_volume": 2038017.7,
        "trend": 24.610667,
        "fair_value": 12.507853,
        "relative_strength": 79.461556,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 88.373338,
        "energy": 89.918339,
        "activity_lines": [
          38.294667,
          35.613273,
          32.184571,
          28.881742
        ]
      },
      {
        "date": "2026-07-24",
        "close": 42.59,
        "volume": 2933914,
        "typical_volume": 2115900.8,
        "trend": 25.469333,
        "fair_value": 12.764519,
        "relative_strength": 79.969353,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 81.692487,
        "energy": 88.188088,
        "activity_lines": [
          40.184,
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          33.488952,
          30.041699
        ]
      },
      {
        "date": "2026-07-31",
        "close": 46.42,
        "volume": 3044839,
        "typical_volume": 2198593.85,
        "trend": 26.474667,
        "fair_value": 13.044776,
        "relative_strength": 90.643522,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 87.38871,
        "energy": 90.181148,
        "activity_lines": [
          42.676,
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          35.035286,
          31.393355
        ]
      },
      {
        "date": "2026-08-07",
        "close": 44.6,
        "volume": 2011663,
        "typical_volume": 2177766.95,
        "trend": 27.446,
        "fair_value": 13.30766,
        "relative_strength": 71.336814,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 73.224136,
        "energy": 83.60032,
        "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."
    }
  }
}