{ "ticker": { "uuid": "3ae86278-dee7-47ea-b376-a731183b3b87", "symbol": "FLRG", "name": "FIDELITY COVINGTON TRUST US MULTIFACTOR 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": 92.485, "architecture_regime": "upward_expansion", "architecture_regime_label": "Upward Expansion", "architecture_modifier": "Established expansion", "architecture_gate": "up", "architecture_direction": 91.552, "architecture_energy": 87.119, "architecture_maturity": 37.168, "architecture_confidence": 79.419, "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": 9.38, "rotation_up": 77.51, "upward_expansion": 97.03, "deceleration": 40.44, "rotation_down": 17.04, "downward_expansion": 19.03 }, "activity_lines": [ 41.765047, 41.319331, 40.829734, 40.130182 ], "activity_state": "Wide", "activity_direction": "Expanding", "rotation_direction": "Improving", "price_acceptance": 1.0 }, "latest_close": 42.8568, "trend_reference": 39.332819, "distance_from_trend": 0.089594, "trend_direction": "Improving", "fair_value": 33.271487, "distance_from_fair_value": 0.288094, "fair_value_direction": "Improving", "relative_strength": -0.843048, "relative_strength_direction": "Improving", "price_momentum": 0.119146, "excess_performance": -0.006479, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.089594, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.02927, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.288094, "read": "Premium" }, { "label": "Fair Value direction", "positive": true, "value": 0.024457, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.00843, "read": "Lagging" }, { "label": "Relative strength direction", "positive": true, "value": 0.023949, "read": "Improving" }, { "label": "Price momentum", "positive": true, "value": 0.119146, "read": "Positive" }, { "label": "Volume balance", "positive": true, "value": 2.79972, "read": "Demand-led" } ], "volume": { "latest": 49954, "relative_activity": 0.549085, "balance": 2.79972, "dry_up": 0.667343, "accumulation_observations": 6, "distribution_observations": 2 }, "risk": { "range_context": 0.018683, "annualized_volatility": 0.104214, "from_high_reference": -0.001705, "from_low_reference": 0.195987 }, "levels": { "trend_reference": 39.332819, "fair_value_reference": 33.271487, "structural_low": 35.833846, 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"upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 61.704348, "energy": 52.107927, "activity_lines": [ 40.852387, 40.745041, 40.19122, 39.597634 ] }, { "date": "2026-07-24", "close": 41.0239, "volume": 45125, "typical_volume": 94658.8, "trend": 39.046776, "fair_value": 33.052397, "relative_strength": -0.804148, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 66.036631, "energy": 61.035761, "activity_lines": [ 40.93978, 40.805079, 40.347594, 39.730738 ] }, { "date": "2026-07-31", "close": 41.5575, "volume": 62038, "typical_volume": 93399.3, "trend": 39.176152, "fair_value": 33.158203, "relative_strength": -0.542653, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 75.520817, "energy": 69.731837, "activity_lines": [ 41.178113, 40.95158, 40.537704, 39.892721 ] }, { "date": "2026-08-07", "close": 42.8568, "volume": 49954, "typical_volume": 90976.85, "trend": 39.332819, "fair_value": 33.271487, "relative_strength": -0.843048, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 91.552275, "energy": 87.119086, "activity_lines": [ 41.765047, 41.319331, 40.829734, 40.130182 ] } ], "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." } } }