{ "ticker": { "uuid": "37c9bb4c-ed79-460b-8135-fc56c3c6be7c", "symbol": "FELC", "name": "FIDELITY COVINGTON TRUST ENHANCED LARGE CAP CORE 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": 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": 84.997, "architecture_energy": 69.623, "architecture_maturity": 42.164, "architecture_confidence": 84.772, "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": 7.49, "rotation_up": 66.59, "upward_expansion": 87.97, "deceleration": 50.11, "rotation_down": 21.99, "downward_expansion": 12.3 }, "activity_lines": [ 42.844, 42.394592, 41.776063, 40.843155 ], "activity_state": "Wide", "activity_direction": "Expanding", "rotation_direction": "Weakening", "price_acceptance": 0.833333 }, "latest_close": 43.96, "trend_reference": 39.781751, "distance_from_trend": 0.105029, "trend_direction": "Improving", "fair_value": 33.427259, "distance_from_fair_value": 0.315094, "fair_value_direction": "Improving", "relative_strength": 1.578128, "relative_strength_direction": "Improving", "price_momentum": 0.145326, "excess_performance": 0.019701, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.105029, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.037678, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.315094, "read": "Premium" }, { "label": "Fair Value direction", "positive": true, "value": 0.054052, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": true, "value": 0.015781, "read": "Leading" }, { "label": "Relative strength direction", "positive": true, "value": 0.015855, "read": "Improving" }, { "label": "Price momentum", "positive": true, "value": 0.145326, "read": "Positive" }, { "label": "Volume balance", "positive": true, "value": 2.342573, "read": "Demand-led" } ], "volume": { "latest": 4262099, "relative_activity": 0.906883, "balance": 2.342573, "dry_up": 0.762454, "accumulation_observations": 2, "distribution_observations": 1 }, "risk": { "range_context": 0.025194, "annualized_volatility": 0.141218, "from_high_reference": -0.00498, "from_low_reference": 0.25805 }, "levels": { "trend_reference": 39.781751, "fair_value_reference": 33.427259, "structural_low": 35.022367, 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53.593509, "activity_lines": [ 42.022, 41.844485, 41.008579, 40.192447 ] }, { "date": "2026-07-24", "close": 41.94, "volume": 3024315, "typical_volume": 4934664.95, "trend": 39.449921, "fair_value": 33.28672, "relative_strength": 1.503695, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 62.006061, "energy": 55.083852, "activity_lines": [ 42.035333, 41.880507, 41.204051, 40.360599 ] }, { "date": "2026-07-31", "close": 42.57, "volume": 4109723, "typical_volume": 4781146.4, "trend": 39.600464, "fair_value": 33.352559, "relative_strength": 1.858822, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 69.068798, "energy": 59.296741, "activity_lines": [ 42.259333, 42.019517, 41.437652, 40.561894 ] }, { "date": "2026-08-07", "close": 43.96, "volume": 4262099, "typical_volume": 4699724.6, "trend": 39.781751, "fair_value": 33.427259, "relative_strength": 1.578128, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 84.997352, "energy": 69.622989, "activity_lines": [ 42.844, 42.394592, 41.776063, 40.843155 ] } ], "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." } } }