{
  "ticker": {
    "uuid": "56ccfdb5-e10c-4b18-b29f-7841fdacd805",
    "symbol": "AVMU",
    "name": "AMERICAN CENTURY ETF TRUST AVANTIS CORE MUN FXD INCOME 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": 3,
    "stage_name": "Distribution",
    "phase": "3a",
    "phase_label": "Stage 3A \u00b7 Churning",
    "transition": "stage_3_churning",
    "transition_label": "Stage 3 range intact",
    "confidence": 82.88,
    "architecture_regime": "downward_expansion",
    "architecture_regime_label": "Downward Expansion",
    "architecture_modifier": "Early contraction",
    "architecture_gate": "down",
    "architecture_direction": -60.746,
    "architecture_energy": 72.478,
    "architecture_maturity": 2.765,
    "architecture_confidence": 75.981,
    "architecture_tenure": "New",
    "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": 28.24,
        "rotation_up": 10.74,
        "upward_expansion": 18.05,
        "deceleration": 34.95,
        "rotation_down": 72.22,
        "downward_expansion": 86.71
      },
      "activity_lines": [
        45.452657,
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      "activity_state": "Moderate",
      "activity_direction": "Expanding",
      "rotation_direction": "Weakening",
      "price_acceptance": -0.333333
    },
    "latest_close": 45.5303,
    "trend_reference": 45.969636,
    "distance_from_trend": -0.009557,
    "trend_direction": "Improving",
    "fair_value": 43.797764,
    "distance_from_fair_value": 0.039558,
    "fair_value_direction": "Weakening",
    "relative_strength": -10.734752,
    "relative_strength_direction": "Weakening",
    "price_momentum": -0.013679,
    "excess_performance": -0.139304,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.009557,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.004917,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.039558,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.024086,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.107348,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.026593,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.013679,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.435404,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 219698,
      "relative_activity": 3.088505,
      "balance": 1.435404,
      "dry_up": 1.716005,
      "accumulation_observations": 3,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.008063,
      "annualized_volatility": 0.045917,
      "from_high_reference": -0.02331,
      "from_low_reference": 0.061795
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    "levels": {
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      "fair_value_reference": 43.797764,
      "structural_low": 45.010532,
      "invalidation": "A decisive breakout above range resistance with renewed RS leadership invalidates the distribution reading; a range-low break confirms deterioration."
    },
    "outcomes": [
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        "horizon": "Near term",
        "sample_count": 12,
        "median_return": 0.016051,
        "positive_rate": 0.75,
        "directional_follow_through": 0.25,
        "median_excess_return": -0.026823,
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        "sufficient": true
      },
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        "horizon": "Intermediate",
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        "horizon": "Full cycle",
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      },
      {
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      },
      {
        "date": "2026-07-17",
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        "typical_volume": 60110.1,
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        "direction": 13.566911,
        "energy": 8.605771,
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        ]
      },
      {
        "date": "2026-07-24",
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        "volume": 88828,
        "typical_volume": 61949.35,
        "trend": 45.993015,
        "fair_value": 43.750724,
        "relative_strength": -7.864848,
        "stage": 3,
        "regime": "rotation_down",
        "modifier": "Structural failure",
        "gate": "mixed",
        "direction": -49.975958,
        "energy": 41.390881,
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        ]
      },
      {
        "date": "2026-07-31",
        "close": 45.257551,
        "volume": 83458,
        "typical_volume": 63181.15,
        "trend": 45.98017,
        "fair_value": 43.773253,
        "relative_strength": -8.403303,
        "stage": 3,
        "regime": "rotation_down",
        "modifier": "Structural failure",
        "gate": "down",
        "direction": -74.820946,
        "energy": 71.648137,
        "activity_lines": [
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        ]
      },
      {
        "date": "2026-08-07",
        "close": 45.5303,
        "volume": 219698,
        "typical_volume": 71134.1,
        "trend": 45.969636,
        "fair_value": 43.797764,
        "relative_strength": -10.734752,
        "stage": 3,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -60.745949,
        "energy": 72.478494,
        "activity_lines": [
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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."
    }
  }
}