{ "ticker": { "uuid": "3b8c47c4-4823-4b60-b78c-b6854842b7d4", "symbol": "CPRJ", "name": "CALAMOS RUSSELL 2000 STRUCTURED ALT PROTECTION ETF - JULY", "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": 3, "stage_name": "Distribution", "phase": "3a", "phase_label": "Stage 3A \u00b7 Churning", "transition": "stage_3_churning", "transition_label": "Stage 3 range intact", "confidence": 96.0, "architecture_regime": "upward_expansion", "architecture_regime_label": "Upward Expansion", "architecture_modifier": "Established expansion", "architecture_gate": "up", "architecture_direction": 84.684, "architecture_energy": 63.373, "architecture_maturity": 81.512, "architecture_confidence": 66.055, "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": 24.41, "rotation_up": 56.54, "upward_expansion": 83.3, "deceleration": 68.65, "rotation_down": 28.15, "downward_expansion": 9.97 }, "activity_lines": [ 27.672293, 27.649658, 27.588058, 27.471428 ], "activity_state": "Moderate", "activity_direction": "Contracting", "rotation_direction": "Weakening", "price_acceptance": 0.666667 }, "latest_close": 27.7981, "trend_reference": 27.321463, "distance_from_trend": 0.017446, "trend_direction": "Improving", "fair_value": 26.072144, "distance_from_fair_value": 0.066199, "fair_value_direction": "Improving", "relative_strength": -8.22183, "relative_strength_direction": "Weakening", "price_momentum": 0.028147, "excess_performance": -0.097478, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.017446, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.01185, "read": "Rising" }, { 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"typical_volume": 41009.9, "trend": 27.26714, "fair_value": 26.041923, "relative_strength": -5.18096, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 65.434115, "energy": 61.96664, "activity_lines": [ 27.619433, 27.613865, 27.534221, 27.416751 ] }, { "date": "2026-07-31", "close": 27.61, "volume": 73473, "typical_volume": 44209.2, "trend": 27.293473, "fair_value": 26.056309, "relative_strength": -5.881453, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 52.62353, "energy": 50.458985, "activity_lines": [ 27.61368, 27.615298, 27.553992, 27.438871 ] }, { "date": "2026-08-07", "close": 27.7981, "volume": 83882, "typical_volume": 47992.7, "trend": 27.321463, "fair_value": 26.072144, "relative_strength": -8.22183, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 84.684403, "energy": 63.373499, "activity_lines": [ 27.672293, 27.649658, 27.588058, 27.471428 ] } ], "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." } } }