{
  "ticker": {
    "uuid": "41dc7e1a-edf2-4ca4-8a5f-c10ef9dbb0af",
    "symbol": "REK",
    "name": "PROSHARES TRUST SHORT REAL ESTATE FD ETF(POST REV SPLIT)",
    "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": "4b",
    "phase_label": "Stage 4B \u00b7 Declining",
    "transition": "stage_4_declining",
    "transition_label": "Stage 4 decline intact",
    "confidence": 96.0,
    "architecture_regime": "downward_expansion",
    "architecture_regime_label": "Downward Expansion",
    "architecture_modifier": "Established contraction",
    "architecture_gate": "down",
    "architecture_direction": -53.636,
    "architecture_energy": 36.631,
    "architecture_maturity": 40.848,
    "architecture_confidence": 92.273,
    "architecture_tenure": "Established",
    "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": 23.31,
        "rotation_up": 22.45,
        "upward_expansion": 4.16,
        "deceleration": 52.59,
        "rotation_down": 47.16,
        "downward_expansion": 75.16
      },
      "activity_lines": [
        15.293573,
        15.328576,
        15.465408,
        15.672666
      ],
      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Improving",
      "price_acceptance": -0.5
    },
    "latest_close": 15.3936,
    "trend_reference": 15.92957,
    "distance_from_trend": -0.033646,
    "trend_direction": "Weakening",
    "fair_value": 16.75946,
    "distance_from_fair_value": -0.081498,
    "fair_value_direction": "Improving",
    "relative_strength": -15.908378,
    "relative_strength_direction": "Improving",
    "price_momentum": -0.068173,
    "excess_performance": -0.193798,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.033646,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.032994,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.081498,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.002209,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.159084,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.007552,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.068173,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.730677,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 24510,
      "relative_activity": 0.460923,
      "balance": 0.730677,
      "dry_up": 1.232391,
      "accumulation_observations": 1,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.032257,
      "annualized_volatility": 0.165158,
      "from_high_reference": -0.115691,
      "from_low_reference": 0.033821
    },
    "levels": {
      "trend_reference": 15.92957,
      "fair_value_reference": 16.75946,
      "structural_low": 14.89,
      "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": 22,
        "median_return": -0.004914,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": -0.028927,
        "regime_survival": 0.772727,
        "best_return": 0.109922,
        "worst_return": -0.057987,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 8,
        "median_return": 0.003035,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": 0.017115,
        "regime_survival": 0.5,
        "best_return": 0.14465,
        "worst_return": -0.088979,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 4,
        "median_return": -0.009736,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": -0.141606,
        "regime_survival": 0.25,
        "best_return": 0.150083,
        "worst_return": -0.079195,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 2,
        "median_return": 0.013977,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
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        "regime_survival": 0.0,
        "best_return": 0.059002,
        "worst_return": -0.031049,
        "sufficient": false
      }
    ],
    "ledger": [
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        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "end": "2024-07-19",
        "tenure": "Developing",
        "return": -0.058239,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2024-07-26",
        "end": "2024-08-02",
        "tenure": "New",
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        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
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        "tenure": "Established",
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        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
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        "tenure": "New",
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        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
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        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
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        "end": "2025-04-04",
        "tenure": "Developing",
        "return": 0.077878,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "end": "2025-05-09",
        "tenure": "Developing",
        "return": -0.061759,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "end": "2025-11-21",
        "tenure": "Extended",
        "return": 0.03845,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "active": false
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      {
        "regime": "deceleration",
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      {
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        "active": false
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      {
        "regime": "downward_expansion",
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      {
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      },
      {
        "date": "2026-07-24",
        "close": 15.04,
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        "typical_volume": 60100.95,
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        "relative_strength": -14.928294,
        "stage": 4,
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      },
      {
        "date": "2026-07-31",
        "close": 15.35,
        "volume": 19485,
        "typical_volume": 55904.6,
        "trend": 15.98577,
        "fair_value": 16.774507,
        "relative_strength": -13.66492,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -56.301598,
        "energy": 39.261153,
        "activity_lines": [
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      },
      {
        "date": "2026-08-07",
        "close": 15.3936,
        "volume": 24510,
        "typical_volume": 53175.9,
        "trend": 15.92957,
        "fair_value": 16.75946,
        "relative_strength": -15.908378,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -53.636246,
        "energy": 36.630713,
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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."
    }
  }
}