{
  "ticker": {
    "uuid": "2f95a34a-beea-4c08-97db-4aecc20b721a",
    "symbol": "BCD",
    "name": "ABRDN ETFS BLOOMBERG ALL COMMODITY LONGER DATED STR",
    "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": 2,
    "stage_name": "Advancing",
    "phase": "2a",
    "phase_label": "Stage 2A \u00b7 Early advance",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 48.54,
    "architecture_regime": "deceleration",
    "architecture_regime_label": "Deceleration",
    "architecture_modifier": "Re-acceleration watch",
    "architecture_gate": "up",
    "architecture_direction": 39.584,
    "architecture_energy": 32.351,
    "architecture_maturity": 41.804,
    "architecture_confidence": 52.739,
    "architecture_tenure": "Developing",
    "architecture": {
      "interpretation": {
        "headline": "The prior uptrend is attempting to re-accelerate.",
        "body": "Positive Trend survived a recompression and Fast Activity is strengthening again. Promotion requires renewed confirmation across the completed evidence set."
      },
      "scores": {
        "balance": 37.27,
        "rotation_up": 64.59,
        "upward_expansion": 69.85,
        "deceleration": 62.2,
        "rotation_down": 9.69,
        "downward_expansion": 10.85
      },
      "activity_lines": [
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        35.866729
      ],
      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Improving",
      "price_acceptance": 0.5
    },
    "latest_close": 36.22,
    "trend_reference": 35.4277,
    "distance_from_trend": 0.022364,
    "trend_direction": "Improving",
    "fair_value": 28.923495,
    "distance_from_fair_value": 0.252269,
    "fair_value_direction": "Weakening",
    "relative_strength": -2.289525,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.097243,
    "excess_performance": -0.028382,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.022364,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.046148,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.252269,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.079489,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.022895,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.087548,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.097243,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.893604,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 340049,
      "relative_activity": 1.119404,
      "balance": 0.893604,
      "dry_up": 0.686748,
      "accumulation_observations": 4,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.028644,
      "annualized_volatility": 0.127139,
      "from_high_reference": -0.064566,
      "from_low_reference": 0.301089
    },
    "levels": {
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      "fair_value_reference": 28.923495,
      "structural_low": 32.3507,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
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        "horizon": "Near term",
        "sample_count": 10,
        "median_return": 0.02107,
        "positive_rate": 0.9,
        "directional_follow_through": 0.9,
        "median_excess_return": -0.030622,
        "regime_survival": 0.5,
        "best_return": 0.086964,
        "worst_return": -0.040407,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 4,
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        "worst_return": -0.032887,
        "sufficient": false
      },
      {
        "horizon": "Extended",
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        "directional_follow_through": 0.75,
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        "regime_survival": 0.0,
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        "worst_return": -0.006279,
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      },
      {
        "horizon": "Full cycle",
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        "sufficient": false
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        "regime": "balance",
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        "activity_lines": [
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      },
      {
        "date": "2026-04-24",
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        "trend": 32.604205,
        "fair_value": 27.913444,
        "relative_strength": 8.169925,
        "stage": 2,
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      },
      {
        "date": "2026-05-01",
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        "typical_volume": 356194.05,
        "trend": 32.863937,
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        "relative_strength": 9.036694,
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      },
      {
        "date": "2026-05-08",
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      },
      {
        "date": "2026-05-15",
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        "typical_volume": 385416.95,
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        "fair_value": 28.148929,
        "relative_strength": 7.106374,
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      },
      {
        "date": "2026-05-22",
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        "typical_volume": 359885.25,
        "trend": 33.637325,
        "fair_value": 28.228433,
        "relative_strength": 5.083685,
        "stage": 2,
        "regime": "upward_expansion",
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        "activity_lines": [
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      },
      {
        "date": "2026-05-29",
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        "typical_volume": 339225.9,
        "trend": 33.864909,
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        "relative_strength": 2.362543,
        "stage": 2,
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      },
      {
        "date": "2026-06-05",
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        "typical_volume": 345526.1,
        "trend": 34.067636,
        "fair_value": 28.376895,
        "relative_strength": 2.825252,
        "stage": 2,
        "regime": "upward_expansion",
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        "energy": 43.465537,
        "activity_lines": [
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      },
      {
        "date": "2026-06-12",
        "close": 35.59,
        "volume": 353973,
        "typical_volume": 350476.6,
        "trend": 34.23882,
        "fair_value": 28.438073,
        "relative_strength": 0.604105,
        "stage": 2,
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      },
      {
        "date": "2026-06-19",
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        "fair_value": 28.49934,
        "relative_strength": -1.789445,
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      },
      {
        "date": "2026-06-26",
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        "fair_value": 28.556748,
        "relative_strength": -1.967197,
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        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": -18.400502,
        "energy": 33.456819,
        "activity_lines": [
          35.12,
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          35.545738
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      },
      {
        "date": "2026-07-03",
        "close": 34.16,
        "volume": 365788,
        "typical_volume": 331484.3,
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        "fair_value": 28.613514,
        "relative_strength": -3.930186,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
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        "energy": 39.003088,
        "activity_lines": [
          34.648933,
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          35.522792
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      },
      {
        "date": "2026-07-10",
        "close": 35.16,
        "volume": 344731,
        "typical_volume": 329717.35,
        "trend": 34.765544,
        "fair_value": 28.671834,
        "relative_strength": -2.44,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "mixed",
        "direction": -23.395059,
        "energy": 38.16637,
        "activity_lines": [
          34.696533,
          35.352327,
          35.880871,
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      },
      {
        "date": "2026-07-17",
        "close": 35.93,
        "volume": 111558,
        "typical_volume": 323091.55,
        "trend": 34.942076,
        "fair_value": 28.733118,
        "relative_strength": 1.199043,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 1.208004,
        "energy": 21.835299,
        "activity_lines": [
          35.069467,
          35.345673,
          35.877486,
          35.632953
        ]
      },
      {
        "date": "2026-07-24",
        "close": 36.69,
        "volume": 193687,
        "typical_volume": 309218.4,
        "trend": 35.108033,
        "fair_value": 28.797756,
        "relative_strength": 3.780239,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 37.934312,
        "energy": 18.078397,
        "activity_lines": [
          35.673067,
          35.503564,
          35.938433,
          35.745723
        ]
      },
      {
        "date": "2026-07-31",
        "close": 36.04,
        "volume": 189179,
        "typical_volume": 300566.55,
        "trend": 35.276367,
        "fair_value": 28.859644,
        "relative_strength": 0.731698,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 33.723339,
        "energy": 26.00771,
        "activity_lines": [
          35.948667,
          35.562364,
          35.932857,
          35.805849
        ]
      },
      {
        "date": "2026-08-07",
        "close": 36.22,
        "volume": 340049,
        "typical_volume": 303776.95,
        "trend": 35.4277,
        "fair_value": 28.923495,
        "relative_strength": -2.289525,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Re-acceleration watch",
        "gate": "up",
        "direction": 39.584181,
        "energy": 32.351122,
        "activity_lines": [
          36.156667,
          35.677891,
          35.946186,
          35.866729
        ]
      }
    ],
    "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."
    }
  }
}