{
  "ticker": {
    "uuid": "36b4962d-5673-4290-b7ad-d2a1a984c8eb",
    "symbol": "NULC",
    "name": "NUVEEN ESG LARGE-CAP ETF",
    "exchange": "CBOE",
    "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": "2b",
    "phase_label": "Stage 2B \u00b7 Advancing",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 96.0,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Established expansion",
    "architecture_gate": "up",
    "architecture_direction": 84.34,
    "architecture_energy": 63.74,
    "architecture_maturity": 60.64,
    "architecture_confidence": 79.352,
    "architecture_tenure": "Established",
    "architecture": {
      "interpretation": {
        "headline": "The weekly architecture is expanding upward.",
        "body": "Trend and Activity show sustained positive alignment with constructive price acceptance. Directional energy remains positive; cooling within this regime can indicate that it is maturing."
      },
      "scores": {
        "balance": 12.21,
        "rotation_up": 57.92,
        "upward_expansion": 83.56,
        "deceleration": 65.18,
        "rotation_down": 26.74,
        "downward_expansion": 10.22
      },
      "activity_lines": [
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        52.319852
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      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.666667
    },
    "latest_close": 56.033,
    "trend_reference": 50.946133,
    "distance_from_trend": 0.099848,
    "trend_direction": "Improving",
    "fair_value": 42.204521,
    "distance_from_fair_value": 0.327654,
    "fair_value_direction": "Improving",
    "relative_strength": 1.332329,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.143297,
    "excess_performance": 0.017672,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.099848,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.042838,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.327654,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.024044,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.013323,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.015461,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.143297,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.712367,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 5336,
      "relative_activity": 0.214199,
      "balance": 1.712367,
      "dry_up": 1.131849,
      "accumulation_observations": 4,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.022254,
      "annualized_volatility": 0.138279,
      "from_high_reference": -0.003503,
      "from_low_reference": 0.24352
    },
    "levels": {
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      "fair_value_reference": 42.204521,
      "structural_low": 45.06,
      "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": 39,
        "median_return": 0.017113,
        "positive_rate": 0.692308,
        "directional_follow_through": 0.692308,
        "median_excess_return": -0.001444,
        "regime_survival": 0.74359,
        "best_return": 0.06293,
        "worst_return": -0.072699,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
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        "worst_return": -0.081752,
        "sufficient": true
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      {
        "horizon": "Extended",
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        "directional_follow_through": 1.0,
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        "worst_return": 0.052465,
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        "horizon": "Full cycle",
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        "sufficient": false
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        "regime": "deceleration",
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      },
      {
        "date": "2026-04-24",
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        "trend": 47.939381,
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        "relative_strength": 0.424263,
        "stage": 2,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
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        "date": "2026-05-01",
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        "trend": 48.084657,
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        "relative_strength": 0.65634,
        "stage": 2,
        "regime": "upward_expansion",
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        "activity_lines": [
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      },
      {
        "date": "2026-05-08",
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        "typical_volume": 28287.0,
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        "fair_value": 40.349506,
        "relative_strength": -0.213765,
        "stage": 2,
        "regime": "upward_expansion",
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      },
      {
        "date": "2026-05-15",
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        "typical_volume": 27390.9,
        "trend": 48.477109,
        "fair_value": 40.49324,
        "relative_strength": -0.746996,
        "stage": 2,
        "regime": "upward_expansion",
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        "activity_lines": [
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      },
      {
        "date": "2026-05-22",
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        "typical_volume": 27383.65,
        "trend": 48.657041,
        "fair_value": 40.641269,
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        "modifier": "Early expansion",
        "gate": "up",
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        "energy": 91.664353,
        "activity_lines": [
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      },
      {
        "date": "2026-05-29",
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        "typical_volume": 25615.95,
        "trend": 48.853352,
        "fair_value": 40.790166,
        "relative_strength": -0.166944,
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      },
      {
        "date": "2026-06-05",
        "close": 53.0448,
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        "typical_volume": 24913.85,
        "trend": 49.053485,
        "fair_value": 40.933521,
        "relative_strength": 0.839051,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 67.177419,
        "energy": 73.999062,
        "activity_lines": [
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      },
      {
        "date": "2026-06-12",
        "close": 53.44,
        "volume": 29831,
        "typical_volume": 25595.45,
        "trend": 49.265283,
        "fair_value": 41.072964,
        "relative_strength": 1.020513,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 68.954752,
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        "activity_lines": [
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      },
      {
        "date": "2026-06-19",
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        "relative_strength": 1.149783,
        "stage": 2,
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        "energy": 67.040715,
        "activity_lines": [
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      },
      {
        "date": "2026-06-26",
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        "typical_volume": 23143.65,
        "trend": 49.712442,
        "fair_value": 41.355594,
        "relative_strength": 1.780868,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 63.859918,
        "energy": 59.491976,
        "activity_lines": [
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      },
      {
        "date": "2026-07-03",
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        "volume": 50109,
        "typical_volume": 22609.5,
        "trend": 49.90016,
        "fair_value": 41.497981,
        "relative_strength": 0.886381,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
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        "energy": 60.021917,
        "activity_lines": [
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      },
      {
        "date": "2026-07-10",
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        "typical_volume": 22802.1,
        "trend": 50.139133,
        "fair_value": 41.642718,
        "relative_strength": 1.779682,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 80.969524,
        "energy": 68.063298,
        "activity_lines": [
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      },
      {
        "date": "2026-07-17",
        "close": 53.59,
        "volume": 45156,
        "typical_volume": 23928.0,
        "trend": 50.33545,
        "fair_value": 41.77706,
        "relative_strength": 0.822152,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 63.21713,
        "energy": 58.250206,
        "activity_lines": [
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          52.625644,
          51.528649
        ]
      },
      {
        "date": "2026-07-24",
        "close": 53.5875,
        "volume": 49323,
        "typical_volume": 25712.5,
        "trend": 50.506033,
        "fair_value": 41.910805,
        "relative_strength": 1.415698,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 61.524173,
        "energy": 55.596092,
        "activity_lines": [
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          52.859711,
          51.738458
        ]
      },
      {
        "date": "2026-07-31",
        "close": 54.2,
        "volume": 12969,
        "typical_volume": 25399.55,
        "trend": 50.715367,
        "fair_value": 42.051622,
        "relative_strength": 1.470893,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 65.519792,
        "energy": 55.450649,
        "activity_lines": [
          53.98358,
          53.848673,
          53.123125,
          51.976779
        ]
      },
      {
        "date": "2026-08-07",
        "close": 56.033,
        "volume": 5336,
        "typical_volume": 24911.45,
        "trend": 50.946133,
        "fair_value": 42.204521,
        "relative_strength": 1.332329,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 84.340072,
        "energy": 63.739561,
        "activity_lines": [
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          52.319852
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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."
    }
  }
}