{ "ticker": { "uuid": "1b80e632-5b4c-4421-a840-45eeb64e9f05", "symbol": "QNXT", "name": "iShares Nasdaq-100 ex Top 30 ETF", "exchange": "NASDAQ", "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": "QQQ", "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": "deceleration", "architecture_regime_label": "Deceleration", "architecture_modifier": "Recompressing", "architecture_gate": "up", "architecture_direction": 63.887, "architecture_energy": 39.463, "architecture_maturity": 66.747, "architecture_confidence": 85.579, "architecture_tenure": "New", "architecture": { "interpretation": { "headline": "The upward structure remains, but its energy is decelerating.", "body": "Trend remains positive, but Activity or price acceptance is losing strength. This can become a healthy recompression, a re-acceleration, or a Rotation Down." }, "scores": { "balance": 25.51, "rotation_up": 37.6, "upward_expansion": 60.61, "deceleration": 88.22, "rotation_down": 27.49, "downward_expansion": 21.95 }, "activity_lines": [ 30.869447, 30.901069, 30.511415, 29.779483 ], "activity_state": "Moderate", "activity_direction": "Contracting", "rotation_direction": "Weakening", "price_acceptance": 0.333333 }, "latest_close": 31.7685, "trend_reference": 28.963827, "distance_from_trend": 0.096834, "trend_direction": "Improving", "fair_value": 26.725296, "distance_from_fair_value": 0.188705, "fair_value_direction": "Improving", "relative_strength": -1.401459, "relative_strength_direction": "Improving", "price_momentum": 0.158311, "excess_performance": -0.029143, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.096834, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.041339, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.188705, "read": "Premium" }, { "label": "Fair Value direction", "positive": true, "value": 0.056804, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.014015, "read": "Lagging" }, { "label": "Relative strength direction", "positive": true, "value": 0.077215, "read": "Improving" }, { "label": "Price momentum", "positive": true, "value": 0.158311, "read": "Positive" }, { "label": "Volume balance", "positive": true, "value": 6.390057, "read": "Demand-led" } ], "volume": { "latest": 15656, "relative_activity": 0.60977, "balance": 6.390057, "dry_up": 0.714793, "accumulation_observations": 2, "distribution_observations": 0 }, "risk": { "range_context": 0.027728, "annualized_volatility": 0.152023, "from_high_reference": -0.012787, "from_low_reference": 0.24738 }, "levels": { "trend_reference": 28.963827, "fair_value_reference": 26.725296, "structural_low": 25.468178, "invalidation": "A 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"trend": 28.668278, "fair_value": 26.590443, "relative_strength": -2.939545, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 50.474864, "energy": 47.468843, "activity_lines": [ 30.83378, 30.910592, 30.065789, 29.379938 ] }, { "date": "2026-07-24", "close": 29.9956, "volume": 11493, "typical_volume": 23620.9, "trend": 28.739235, "fair_value": 26.627456, "relative_strength": -1.768629, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 44.45305, "energy": 35.375466, "activity_lines": [ 30.492593, 30.767222, 30.150531, 29.465571 ] }, { "date": "2026-07-31", "close": 30.6834, "volume": 35935, "typical_volume": 25182.95, "trend": 28.847036, "fair_value": 26.671068, "relative_strength": 0.023374, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 40.426363, "energy": 28.73625, "activity_lines": [ 30.491633, 30.738602, 30.288757, 29.591001 ] }, { "date": "2026-08-07", "close": 31.7685, "volume": 15656, "typical_volume": 25675.25, "trend": 28.963827, "fair_value": 26.725296, "relative_strength": -1.401459, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 63.886915, "energy": 39.462851, "activity_lines": [ 30.869447, 30.901069, 30.511415, 29.779483 ] } ], "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." } } }