{
  "ticker": {
    "uuid": "597b4b18-9ac8-488d-9913-1d49e3219d5d",
    "symbol": "CEW",
    "name": "iShares Equal Weight Banc & Lifeco ETF Common Class",
    "exchange": "TOR",
    "country": "CA",
    "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": "^GSPTSE",
    "stage": 2,
    "stage_name": "Advancing",
    "phase": "2b",
    "phase_label": "Stage 2B \u00b7 Advancing",
    "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": 68.194,
    "architecture_energy": 67.924,
    "architecture_maturity": 89.491,
    "architecture_confidence": 92.381,
    "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": 6.97,
        "rotation_up": 61.43,
        "upward_expansion": 87.67,
        "deceleration": 65.77,
        "rotation_down": 27.52,
        "downward_expansion": 12.0
      },
      "activity_lines": [
        35.814266,
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        33.853653,
        32.384685
      ],
      "activity_state": "Wide",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.833333
    },
    "latest_close": 35.799999,
    "trend_reference": 30.609418,
    "distance_from_trend": 0.169575,
    "trend_direction": "Improving",
    "fair_value": 21.470334,
    "distance_from_fair_value": 0.667417,
    "fair_value_direction": "Improving",
    "relative_strength": 12.307064,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.29495,
    "excess_performance": 0.174529,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.169575,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.093026,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.667417,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.131991,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.123071,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.058955,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.29495,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 2.150996,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 233100,
      "relative_activity": 1.369324,
      "balance": 2.150996,
      "dry_up": 2.205399,
      "accumulation_observations": 3,
      "distribution_observations": 3
    },
    "risk": {
      "range_context": 0.025607,
      "annualized_volatility": 0.139762,
      "from_high_reference": -0.01737,
      "from_low_reference": 0.590826
    },
    "levels": {
      "trend_reference": 30.609418,
      "fair_value_reference": 21.470334,
      "structural_low": 26.18755,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
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        "horizon": "Near term",
        "sample_count": 41,
        "median_return": 0.018069,
        "positive_rate": 0.658537,
        "directional_follow_through": 0.658537,
        "median_excess_return": 0.004403,
        "regime_survival": 0.682927,
        "best_return": 0.089522,
        "worst_return": -0.098056,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 15,
        "median_return": 0.042701,
        "positive_rate": 0.8,
        "directional_follow_through": 0.8,
        "median_excess_return": -0.001953,
        "regime_survival": 0.6,
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        "worst_return": -0.141846,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 8,
        "median_return": 0.082886,
        "positive_rate": 0.875,
        "directional_follow_through": 0.875,
        "median_excess_return": 0.030486,
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        "worst_return": -0.117985,
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      {
        "horizon": "Full cycle",
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        "worst_return": -0.036001,
        "sufficient": false
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        "color": "amber",
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        "end": "2024-05-17",
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        "regime": "rotation_down",
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        "active": false
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        "regime": "balance",
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        "typical_volume": 88653.1,
        "trend": 27.050324,
        "fair_value": 19.643668,
        "relative_strength": 5.713754,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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        "energy": 88.219079,
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      },
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        "date": "2026-05-01",
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        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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      },
      {
        "date": "2026-05-08",
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        "typical_volume": 96331.7,
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        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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        "energy": 91.228504,
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      },
      {
        "date": "2026-05-15",
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        "typical_volume": 101933.95,
        "trend": 27.602814,
        "fair_value": 19.953331,
        "relative_strength": 7.65219,
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      },
      {
        "date": "2026-05-22",
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        "typical_volume": 103840.0,
        "trend": 27.811457,
        "fair_value": 20.06501,
        "relative_strength": 9.16049,
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        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 88.025651,
        "energy": 93.414925,
        "activity_lines": [
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      },
      {
        "date": "2026-05-29",
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        "volume": 282600,
        "typical_volume": 111170.0,
        "trend": 28.004289,
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        "relative_strength": 6.869154,
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        "modifier": "Re-accelerating",
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      },
      {
        "date": "2026-06-05",
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        "typical_volume": 108045.0,
        "trend": 28.222086,
        "fair_value": 20.287962,
        "relative_strength": 10.188322,
        "stage": 2,
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        "modifier": "Re-accelerating",
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        "activity_lines": [
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      },
      {
        "date": "2026-06-12",
        "close": 33.146503,
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        "typical_volume": 104890.0,
        "trend": 28.45864,
        "fair_value": 20.407534,
        "relative_strength": 11.684124,
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        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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        "direction": 90.56139,
        "energy": 92.840777,
        "activity_lines": [
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      },
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        "date": "2026-06-19",
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        "fair_value": 20.537969,
        "relative_strength": 15.175088,
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        "activity_lines": [
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      },
      {
        "date": "2026-06-26",
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        "typical_volume": 99640.0,
        "trend": 28.990336,
        "fair_value": 20.666182,
        "relative_strength": 15.45948,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 89.417643,
        "energy": 95.876526,
        "activity_lines": [
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          30.052682
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      },
      {
        "date": "2026-07-03",
        "close": 35.055378,
        "volume": 57100,
        "typical_volume": 97630.0,
        "trend": 29.257925,
        "fair_value": 20.798252,
        "relative_strength": 15.846607,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 87.72228,
        "energy": 95.523849,
        "activity_lines": [
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          30.443975
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      },
      {
        "date": "2026-07-10",
        "close": 35.624329,
        "volume": 288900,
        "typical_volume": 108025.0,
        "trend": 29.523857,
        "fair_value": 20.932783,
        "relative_strength": 17.066097,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 87.90133,
        "energy": 95.660794,
        "activity_lines": [
          34.919805,
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          32.06053,
          30.854711
        ]
      },
      {
        "date": "2026-07-17",
        "close": 36.143372,
        "volume": 772400,
        "typical_volume": 144205.0,
        "trend": 29.799316,
        "fair_value": 21.068211,
        "relative_strength": 18.39156,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 88.052325,
        "energy": 95.708494,
        "activity_lines": [
          35.453812,
          34.416295,
          32.597211,
          31.281776
        ]
      },
      {
        "date": "2026-07-24",
        "close": 35.634312,
        "volume": 267100,
        "typical_volume": 153525.0,
        "trend": 30.052397,
        "fair_value": 21.200347,
        "relative_strength": 15.919069,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 70.360957,
        "energy": 87.421458,
        "activity_lines": [
          35.618341,
          34.808275,
          33.046138,
          31.658228
        ]
      },
      {
        "date": "2026-07-31",
        "close": 35.849998,
        "volume": 229100,
        "typical_volume": 161015.0,
        "trend": 30.33751,
        "fair_value": 21.335471,
        "relative_strength": 16.598042,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 72.073449,
        "energy": 69.815144,
        "activity_lines": [
          35.768093,
          35.149148,
          33.474407,
          32.032267
        ]
      },
      {
        "date": "2026-08-07",
        "close": 35.799999,
        "volume": 233100,
        "typical_volume": 170230.0,
        "trend": 30.609418,
        "fair_value": 21.470334,
        "relative_strength": 12.307064,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 68.19381,
        "energy": 67.924255,
        "activity_lines": [
          35.814266,
          35.406371,
          33.853653,
          32.384685
        ]
      }
    ],
    "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."
    }
  }
}