{
  "ticker": {
    "uuid": "1e4c9030-fea2-4c9c-9759-f4713c9f9cc3",
    "symbol": "FEIG",
    "name": "FLEXSHARES TRUST ESG & CLIMATE INVT GRADE CORP CORE IDX E",
    "exchange": "NYSEARCA",
    "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": "3c",
    "phase_label": "Stage 3C \u00b7 Breakdown watch",
    "transition": "stage_3_to_4_watch",
    "transition_label": "Stage 3 \u2192 4 watch",
    "confidence": 59.824,
    "architecture_regime": "downward_expansion",
    "architecture_regime_label": "Downward Expansion",
    "architecture_modifier": "Early contraction",
    "architecture_gate": "down",
    "architecture_direction": -64.112,
    "architecture_energy": 74.595,
    "architecture_maturity": 4.807,
    "architecture_confidence": 76.86,
    "architecture_tenure": "New",
    "architecture": {
      "interpretation": {
        "headline": "The weekly architecture is expanding downward.",
        "body": "Trend and Activity show sustained negative alignment with weak price acceptance. Repair requires persistent improvement across the structure, not merely one strong observation."
      },
      "scores": {
        "balance": 17.05,
        "rotation_up": 8.5,
        "upward_expansion": 16.98,
        "deceleration": 37.03,
        "rotation_down": 76.66,
        "downward_expansion": 92.65
      },
      "activity_lines": [
        39.99457,
        40.201356,
        40.356009,
        40.422134
      ],
      "activity_state": "Moderate",
      "activity_direction": "Expanding",
      "rotation_direction": "Weakening",
      "price_acceptance": -0.833333
    },
    "latest_close": 40.115,
    "trend_reference": 40.523987,
    "distance_from_trend": -0.010092,
    "trend_direction": "Weakening",
    "fair_value": 38.357639,
    "distance_from_fair_value": 0.045815,
    "fair_value_direction": "Weakening",
    "relative_strength": -11.750103,
    "relative_strength_direction": "Weakening",
    "price_momentum": -0.014928,
    "excess_performance": -0.140553,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.010092,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.001113,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.045815,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.025314,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.117501,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.017015,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.014928,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 2.356102,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 3846,
      "relative_activity": 0.207283,
      "balance": 2.356102,
      "dry_up": 0.880494,
      "accumulation_observations": 3,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.00821,
      "annualized_volatility": 0.051413,
      "from_high_reference": -0.027859,
      "from_low_reference": 0.014549
    },
    "levels": {
      "trend_reference": 40.523987,
      "fair_value_reference": 38.357639,
      "structural_low": 39.769779,
      "invalidation": "A decisive breakout above range resistance with renewed RS leadership invalidates the distribution reading; a range-low break confirms deterioration."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 5,
        "median_return": 0.019523,
        "positive_rate": 0.6,
        "directional_follow_through": 0.4,
        "median_excess_return": 0.009188,
        "regime_survival": 0.6,
        "best_return": 0.054544,
        "worst_return": -0.036337,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 3,
        "median_return": 0.011343,
        "positive_rate": 1.0,
        "directional_follow_through": 0.0,
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        "regime_survival": 0.333333,
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        "worst_return": 0.009819,
        "sufficient": false
      },
      {
        "horizon": "Extended",
        "sample_count": 2,
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        "worst_return": 0.043677,
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      {
        "horizon": "Full cycle",
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        "worst_return": 0.071606,
        "sufficient": false
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      {
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        "regime": "rotation_down",
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        "active": false
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        "regime": "downward_expansion",
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      {
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      },
      {
        "date": "2026-04-24",
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        "trend": 40.5816,
        "fair_value": 37.86112,
        "relative_strength": -7.498205,
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        "modifier": "Balance after decline",
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      },
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        "date": "2026-05-01",
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      },
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        "date": "2026-05-08",
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      },
      {
        "date": "2026-05-15",
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        "trend": 40.573657,
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        "stage": 3,
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        "gate": "mixed",
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        "energy": 21.414094,
        "activity_lines": [
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      },
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        "date": "2026-05-22",
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        "typical_volume": 19414.05,
        "trend": 40.55969,
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        "relative_strength": -10.889928,
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        "gate": "mixed",
        "direction": -21.597271,
        "energy": 22.336428,
        "activity_lines": [
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      },
      {
        "date": "2026-05-29",
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        "relative_strength": -11.180359,
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      },
      {
        "date": "2026-06-05",
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        "trend": 40.572687,
        "fair_value": 38.063225,
        "relative_strength": -9.113928,
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        "energy": 25.769751,
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      },
      {
        "date": "2026-06-12",
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        "volume": 8590,
        "typical_volume": 16515.45,
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        "relative_strength": -8.785428,
        "stage": 3,
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        "modifier": "Balance after decline",
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        "direction": -20.873021,
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      },
      {
        "date": "2026-06-26",
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        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": 22.061179,
        "energy": 28.258835,
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      },
      {
        "date": "2026-07-03",
        "close": 40.575132,
        "volume": 10384,
        "typical_volume": 19300.65,
        "trend": 40.60622,
        "fair_value": 38.204194,
        "relative_strength": -8.792264,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
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      },
      {
        "date": "2026-07-10",
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        "volume": 33213,
        "typical_volume": 20399.9,
        "trend": 40.601512,
        "fair_value": 38.235212,
        "relative_strength": -10.558734,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -48.292496,
        "energy": 18.354728,
        "activity_lines": [
          40.535881,
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      },
      {
        "date": "2026-07-17",
        "close": 40.212883,
        "volume": 53023,
        "typical_volume": 22288.2,
        "trend": 40.592409,
        "fair_value": 38.265354,
        "relative_strength": -8.873885,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -58.35471,
        "energy": 42.728078,
        "activity_lines": [
          40.403699,
          40.492785,
          40.509559,
          40.547754
        ]
      },
      {
        "date": "2026-07-24",
        "close": 39.834502,
        "volume": 7242,
        "typical_volume": 22371.85,
        "trend": 40.565298,
        "fair_value": 38.293722,
        "relative_strength": -8.950632,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -76.934252,
        "energy": 69.938541,
        "activity_lines": [
          40.176856,
          40.372909,
          40.446886,
          40.498857
        ]
      },
      {
        "date": "2026-07-31",
        "close": 39.802838,
        "volume": 1237,
        "typical_volume": 21986.65,
        "trend": 40.541738,
        "fair_value": 38.323884,
        "relative_strength": -9.683014,
        "stage": 3,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -77.21431,
        "energy": 80.922418,
        "activity_lines": [
          39.998122,
          40.253505,
          40.385747,
          40.449666
        ]
      },
      {
        "date": "2026-08-07",
        "close": 40.115,
        "volume": 3846,
        "typical_volume": 18554.35,
        "trend": 40.523987,
        "fair_value": 38.357639,
        "relative_strength": -11.750103,
        "stage": 3,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -64.112041,
        "energy": 74.594828,
        "activity_lines": [
          39.99457,
          40.201356,
          40.356009,
          40.422134
        ]
      }
    ],
    "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."
    }
  }
}