{
  "ticker": {
    "uuid": "33b9958b-8b16-4e44-811b-1f4e2bde02f5",
    "symbol": "FXC",
    "name": "INVESCO CCY SHS CDN DLR TR CDN DLR SHS ETF",
    "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": 4,
    "stage_name": "Declining",
    "phase": "4c",
    "phase_label": "Stage 4C \u00b7 Repair watch",
    "transition": "stage_4_to_1_watch",
    "transition_label": "Stage 4 \u2192 1 repair watch",
    "confidence": 54.463,
    "architecture_regime": "downward_expansion",
    "architecture_regime_label": "Downward Expansion",
    "architecture_modifier": "Early contraction",
    "architecture_gate": "down",
    "architecture_direction": -41.794,
    "architecture_energy": 26.5,
    "architecture_maturity": 69.633,
    "architecture_confidence": 86.845,
    "architecture_tenure": "Developing",
    "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": 28.7,
        "rotation_up": 28.1,
        "upward_expansion": 17.31,
        "deceleration": 46.97,
        "rotation_down": 30.34,
        "downward_expansion": 67.31
      },
      "activity_lines": [
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      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Improving",
      "price_acceptance": -0.5
    },
    "latest_close": 70.06,
    "trend_reference": 70.618574,
    "distance_from_trend": -0.00791,
    "trend_direction": "Weakening",
    "fair_value": 70.150819,
    "distance_from_fair_value": -0.001295,
    "fair_value_direction": "Weakening",
    "relative_strength": -11.54893,
    "relative_strength_direction": "Weakening",
    "price_momentum": -0.020721,
    "excess_performance": -0.146346,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.00791,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.004029,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.001295,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.018168,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.115489,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.010085,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.020721,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.961729,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 74630,
      "relative_activity": 0.537802,
      "balance": 0.961729,
      "dry_up": 1.367842,
      "accumulation_observations": 1,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.008335,
      "annualized_volatility": 0.0469,
      "from_high_reference": -0.032774,
      "from_low_reference": 0.020786
    },
    "levels": {
      "trend_reference": 70.618574,
      "fair_value_reference": 70.150819,
      "structural_low": 68.633412,
      "invalidation": "Reclaiming a flat-to-rising Trend with improving relative strength is required before the declining diagnosis is repaired."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 24,
        "median_return": 0.004028,
        "positive_rate": 0.625,
        "directional_follow_through": 0.375,
        "median_excess_return": -0.012293,
        "regime_survival": 0.708333,
        "best_return": 0.034857,
        "worst_return": -0.046421,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 10,
        "median_return": 0.017784,
        "positive_rate": 0.6,
        "directional_follow_through": 0.4,
        "median_excess_return": -0.028209,
        "regime_survival": 0.4,
        "best_return": 0.047554,
        "worst_return": -0.036013,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 6,
        "median_return": 0.010585,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.333333,
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        "worst_return": -0.024192,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 4,
        "median_return": -0.00144,
        "positive_rate": 0.25,
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        "worst_return": -0.041893,
        "sufficient": false
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    ],
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        "regime": "deceleration",
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        "active": false
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      {
        "regime": "rotation_down",
        "label": "Rotation Down",
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        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-11-22",
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        "tenure": "Established",
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        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "return": 0.024,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
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        "active": false
      },
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        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "end": "2025-08-01",
        "tenure": "Developing",
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        "active": false
      },
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        "regime": "deceleration",
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        "end": "2025-10-03",
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        "tenure": "New",
        "return": -2.7e-05,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
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      },
      {
        "date": "2026-04-24",
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        "date": "2026-05-01",
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      },
      {
        "date": "2026-05-08",
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      },
      {
        "date": "2026-05-15",
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      },
      {
        "date": "2026-05-22",
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      },
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        "typical_volume": 234535.95,
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      },
      {
        "date": "2026-06-05",
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        "trend": 70.919372,
        "fair_value": 70.243069,
        "relative_strength": -10.553701,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
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        "energy": 39.270585,
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      },
      {
        "date": "2026-06-12",
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        "typical_volume": 220993.05,
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        "relative_strength": -10.813691,
        "stage": 4,
        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
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      },
      {
        "date": "2026-06-19",
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        "relative_strength": -12.147561,
        "stage": 4,
        "regime": "rotation_down",
        "modifier": "Structural failure",
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      },
      {
        "date": "2026-06-26",
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        "typical_volume": 194708.5,
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        "fair_value": 70.206066,
        "relative_strength": -9.918098,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
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        "direction": -87.888227,
        "energy": 94.109878,
        "activity_lines": [
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      },
      {
        "date": "2026-07-03",
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        "typical_volume": 186113.6,
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        "stage": 4,
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      },
      {
        "date": "2026-07-10",
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        "fair_value": 70.179539,
        "relative_strength": -12.108219,
        "stage": 4,
        "regime": "downward_expansion",
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        "direction": -71.083687,
        "energy": 88.803727,
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      },
      {
        "date": "2026-07-17",
        "close": 69.783056,
        "volume": 281974,
        "typical_volume": 153683.3,
        "trend": 70.742513,
        "fair_value": 70.169666,
        "relative_strength": -9.415243,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -66.831529,
        "energy": 80.213665,
        "activity_lines": [
          69.269496,
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          70.110107,
          70.426819
        ]
      },
      {
        "date": "2026-07-24",
        "close": 69.233111,
        "volume": 283380,
        "typical_volume": 150314.6,
        "trend": 70.668008,
        "fair_value": 70.156623,
        "relative_strength": -9.274669,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -67.313695,
        "energy": 58.47927,
        "activity_lines": [
          69.288455,
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          69.989627,
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        ]
      },
      {
        "date": "2026-07-31",
        "close": 69.728562,
        "volume": 119270,
        "typical_volume": 143499.7,
        "trend": 70.622108,
        "fair_value": 70.151398,
        "relative_strength": -9.249055,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -50.332414,
        "energy": 42.129451,
        "activity_lines": [
          69.466255,
          69.413194,
          69.929121,
          70.268829
        ]
      },
      {
        "date": "2026-08-07",
        "close": 70.06,
        "volume": 74630,
        "typical_volume": 138768.55,
        "trend": 70.618574,
        "fair_value": 70.150819,
        "relative_strength": -11.54893,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -41.79374,
        "energy": 26.499715,
        "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."
    }
  }
}