{
  "ticker": {
    "uuid": "1e6a4926-cde2-4048-aeda-9670f077c80a",
    "symbol": "HFND",
    "name": "UNLIMITED HFND MULTI-STRATEGY RETURN TRACKER ETF",
    "exchange": "NYSE",
    "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": "3b",
    "phase_label": "Stage 3B \u00b7 Distribution",
    "transition": "stage_3_churning",
    "transition_label": "Stage 3 range intact",
    "confidence": 62.907,
    "architecture_regime": "deceleration",
    "architecture_regime_label": "Deceleration",
    "architecture_modifier": "Recompressing",
    "architecture_gate": "up",
    "architecture_direction": 50.359,
    "architecture_energy": 25.293,
    "architecture_maturity": 38.639,
    "architecture_confidence": 75.625,
    "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": 38.64,
        "rotation_up": 34.75,
        "upward_expansion": 56.62,
        "deceleration": 87.48,
        "rotation_down": 24.87,
        "downward_expansion": 17.96
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      "activity_lines": [
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      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.333333
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    "latest_close": 24.629,
    "trend_reference": 23.934697,
    "distance_from_trend": 0.029008,
    "trend_direction": "Improving",
    "fair_value": 21.051443,
    "distance_from_fair_value": 0.169944,
    "fair_value_direction": "Weakening",
    "relative_strength": -5.804102,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.040515,
    "excess_performance": -0.085109,
    "evidence": [
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        "label": "Price vs Trend",
        "positive": true,
        "value": 0.029008,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.024426,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.169944,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.013651,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.058041,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.022292,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.040515,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.782302,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 20709,
      "relative_activity": 0.402376,
      "balance": 0.782302,
      "dry_up": 1.270767,
      "accumulation_observations": 1,
      "distribution_observations": 3
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    "risk": {
      "range_context": 0.017773,
      "annualized_volatility": 0.078207,
      "from_high_reference": -0.007295,
      "from_low_reference": 0.157202
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    "levels": {
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      "fair_value_reference": 21.051443,
      "structural_low": 22.85,
      "invalidation": "A decisive breakout above range resistance with renewed RS leadership invalidates the distribution reading; a range-low break confirms deterioration."
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        "horizon": "Near term",
        "sample_count": 4,
        "median_return": 0.025729,
        "positive_rate": 0.75,
        "directional_follow_through": 0.75,
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        "sufficient": false
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        "horizon": "Full cycle",
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        "relative_strength": -3.196082,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 66.522291,
        "energy": 46.189701,
        "activity_lines": [
          24.26228,
          24.214198,
          23.957856,
          23.773097
        ]
      },
      {
        "date": "2026-06-19",
        "close": 24.6832,
        "volume": 10838,
        "typical_volume": 54334.45,
        "trend": 23.54678,
        "fair_value": 20.801767,
        "relative_strength": -2.899701,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 75.23493,
        "energy": 59.11636,
        "activity_lines": [
          24.415767,
          24.311815,
          24.04069,
          23.851326
        ]
      },
      {
        "date": "2026-06-26",
        "close": 24.3352,
        "volume": 26144,
        "typical_volume": 52623.95,
        "trend": 23.602665,
        "fair_value": 20.838047,
        "relative_strength": -1.871422,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 59.162349,
        "energy": 44.583976,
        "activity_lines": [
          24.410373,
          24.329373,
          24.084453,
          23.902192
        ]
      },
      {
        "date": "2026-07-03",
        "close": 24.4,
        "volume": 46552,
        "typical_volume": 53105.3,
        "trend": 23.660199,
        "fair_value": 20.875273,
        "relative_strength": -3.608293,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 58.297737,
        "energy": 48.423141,
        "activity_lines": [
          24.418587,
          24.3537,
          24.13122,
          23.953633
        ]
      },
      {
        "date": "2026-07-10",
        "close": 24.505,
        "volume": 23442,
        "typical_volume": 48698.2,
        "trend": 23.72698,
        "fair_value": 20.911257,
        "relative_strength": -4.396336,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 60.722733,
        "energy": 48.764444,
        "activity_lines": [
          24.460467,
          24.391211,
          24.185083,
          24.008137
        ]
      },
      {
        "date": "2026-07-17",
        "close": 24.225,
        "volume": 43111,
        "typical_volume": 49162.5,
        "trend": 23.78317,
        "fair_value": 20.945313,
        "relative_strength": -3.912546,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 52.871531,
        "energy": 33.215392,
        "activity_lines": [
          24.379907,
          24.370451,
          24.20966,
          24.040267
        ]
      },
      {
        "date": "2026-07-24",
        "close": 24.22,
        "volume": 132589,
        "typical_volume": 54607.95,
        "trend": 23.82639,
        "fair_value": 20.978533,
        "relative_strength": -3.296297,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 39.073416,
        "energy": 24.244755,
        "activity_lines": [
          24.310013,
          24.35114,
          24.232188,
          24.068449
        ]
      },
      {
        "date": "2026-07-31",
        "close": 24.21,
        "volume": 65200,
        "typical_volume": 56703.0,
        "trend": 23.882063,
        "fair_value": 21.01328,
        "relative_strength": -4.276894,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 34.335624,
        "energy": 18.579218,
        "activity_lines": [
          24.267667,
          24.326738,
          24.251145,
          24.093198
        ]
      },
      {
        "date": "2026-08-07",
        "close": 24.629,
        "volume": 20709,
        "typical_volume": 51466.75,
        "trend": 23.934697,
        "fair_value": 21.051443,
        "relative_strength": -5.804102,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 50.358803,
        "energy": 25.292588,
        "activity_lines": [
          24.373333,
          24.378615,
          24.305721,
          24.141388
        ]
      }
    ],
    "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."
    }
  }
}