{ "ticker": { "uuid": "4a52f402-0a7b-4f5e-848b-c465127c05ef", "symbol": "SPAM", "name": "THEMES CYBERSECURITY ETF", "exchange": "NASDAQ", "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": "QQQ", "stage": 2, "stage_name": "Advancing", "phase": "2c", "phase_label": "Stage 2C \u00b7 Late advance", "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": 81.717, "architecture_energy": 65.258, "architecture_maturity": 67.277, "architecture_confidence": 83.764, "architecture_tenure": "Developing", "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": 8.74, "rotation_up": 59.74, "upward_expansion": 84.14, "deceleration": 67.5, "rotation_down": 25.45, "downward_expansion": 10.81 }, "activity_lines": [ 42.316667, 41.565553, 39.472289, 37.205685 ], "activity_state": "Wide", "activity_direction": "Contracting", "rotation_direction": "Weakening", "price_acceptance": 0.666667 }, "latest_close": 44.4774, "trend_reference": 34.594413, "distance_from_trend": 0.285682, "trend_direction": "Improving", "fair_value": 30.643799, "distance_from_fair_value": 0.451432, "fair_value_direction": "Improving", "relative_strength": 15.123509, "relative_strength_direction": "Improving", "price_momentum": 0.52709, "excess_performance": 0.339636, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.285682, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.091843, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.451432, "read": "Premium" }, { "label": "Fair Value direction", "positive": true, "value": 0.271628, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": true, "value": 0.151235, "read": "Leading" }, { "label": "Relative strength direction", "positive": true, "value": 0.239695, "read": "Improving" }, { "label": "Price momentum", "positive": true, "value": 0.52709, "read": "Positive" }, { "label": "Volume balance", "positive": true, "value": 1.399572, "read": "Demand-led" } ], "volume": { "latest": 9538, "relative_activity": 0.869228, "balance": 1.399572, "dry_up": 0.634128, "accumulation_observations": 3, "distribution_observations": 2 }, "risk": { "range_context": 0.057995, "annualized_volatility": 0.324205, "from_high_reference": -0.003196, "from_low_reference": 0.621346 }, "levels": { "trend_reference": 34.594413, "fair_value_reference": 30.643799, "structural_low": 27.4324, 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30.397151, "relative_strength": 15.213517, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 75.694241, "energy": 79.948638, "activity_lines": [ 41.706633, 40.526429, 37.675865, 35.642511 ] }, { "date": "2026-07-24", "close": 40.1907, "volume": 7173, "typical_volume": 10379.35, "trend": 33.80978, "fair_value": 30.468119, "relative_strength": 10.357084, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 65.372089, "energy": 64.549932, "activity_lines": [ 41.46806, 40.629176, 38.162249, 36.073123 ] }, { "date": "2026-07-31", "close": 41.0541, "volume": 4718, "typical_volume": 10542.55, "trend": 34.167, "fair_value": 30.544277, "relative_strength": 11.979083, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 63.751142, "energy": 58.706404, "activity_lines": [ 41.379407, 40.810713, 38.680533, 36.540498 ] }, { "date": "2026-08-07", "close": 44.4774, "volume": 9538, "typical_volume": 10972.95, "trend": 34.594413, "fair_value": 30.643799, "relative_strength": 15.123509, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 81.716609, "energy": 65.257966, "activity_lines": [ 42.316667, 41.565553, 39.472289, 37.205685 ] } ], "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." } } }