{
  "ticker": {
    "uuid": "5b127d12-091b-4b18-aaec-1130a78380fb",
    "symbol": "DFEB",
    "name": "FT VEST U.S. EQUITY DEEP BUFFER ETF - FEBRUARY",
    "exchange": "CBOE",
    "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": 2,
    "stage_name": "Advancing",
    "phase": "2a",
    "phase_label": "Stage 2A \u00b7 Early advance",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 52.874,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Established expansion",
    "architecture_gate": "up",
    "architecture_direction": 87.023,
    "architecture_energy": 76.366,
    "architecture_maturity": 43.964,
    "architecture_confidence": 81.692,
    "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": 8.87,
        "rotation_up": 65.53,
        "upward_expansion": 90.31,
        "deceleration": 49.82,
        "rotation_down": 25.2,
        "downward_expansion": 14.64
      },
      "activity_lines": [
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        50.367534,
        49.869456
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      "activity_state": "Moderate",
      "activity_direction": "Expanding",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.833333
    },
    "latest_close": 51.335,
    "trend_reference": 49.269817,
    "distance_from_trend": 0.041916,
    "trend_direction": "Improving",
    "fair_value": 42.922211,
    "distance_from_fair_value": 0.196001,
    "fair_value_direction": "Weakening",
    "relative_strength": -5.042856,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.062616,
    "excess_performance": -0.063008,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.041916,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.022321,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.196001,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.005453,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.050429,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.003515,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.062616,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 4.003748,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 74075,
      "relative_activity": 1.118559,
      "balance": 4.003748,
      "dry_up": 0.770756,
      "accumulation_observations": 4,
      "distribution_observations": 0
    },
    "risk": {
      "range_context": 0.008656,
      "annualized_volatility": 0.059335,
      "from_high_reference": -0.000292,
      "from_low_reference": 0.132973
    },
    "levels": {
      "trend_reference": 49.269817,
      "fair_value_reference": 42.922211,
      "structural_low": 46.5948,
      "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": 44,
        "median_return": 0.008612,
        "positive_rate": 0.727273,
        "directional_follow_through": 0.727273,
        "median_excess_return": -0.005356,
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        "best_return": 0.040268,
        "worst_return": -0.037365,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
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        "worst_return": -0.020289,
        "sufficient": true
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        "horizon": "Extended",
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        "sufficient": true
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        "sufficient": false
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        "regime": "deceleration",
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        "regime": "rotation_down",
        "label": "Rotation Down",
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        "active": false
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        "regime": "downward_expansion",
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        "regime": "balance",
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      },
      {
        "date": "2026-04-24",
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        "date": "2026-05-08",
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      },
      {
        "date": "2026-05-22",
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        "date": "2026-06-05",
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        "relative_strength": -3.752166,
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      },
      {
        "date": "2026-06-12",
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      },
      {
        "date": "2026-06-26",
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        "relative_strength": -2.554064,
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        "energy": 53.670721,
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      },
      {
        "date": "2026-07-03",
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        "typical_volume": 146801.5,
        "trend": 48.7572,
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        "relative_strength": -3.692142,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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      },
      {
        "date": "2026-07-10",
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        "typical_volume": 138667.0,
        "trend": 48.869167,
        "fair_value": 42.533983,
        "relative_strength": -4.294778,
        "stage": 2,
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        "modifier": "Re-accelerating",
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        "direction": 76.830198,
        "energy": 72.84693,
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      },
      {
        "date": "2026-07-17",
        "close": 50.53,
        "volume": 42492,
        "typical_volume": 110445.5,
        "trend": 48.969167,
        "fair_value": 42.629176,
        "relative_strength": -3.143675,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 64.928205,
        "energy": 73.858311,
        "activity_lines": [
          50.517007,
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          49.520609
        ]
      },
      {
        "date": "2026-07-24",
        "close": 50.45,
        "volume": 48230,
        "typical_volume": 97806.35,
        "trend": 49.057383,
        "fair_value": 42.722606,
        "relative_strength": -2.628129,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 64.186053,
        "energy": 71.083399,
        "activity_lines": [
          50.51456,
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          50.083681,
          49.616146
        ]
      },
      {
        "date": "2026-07-31",
        "close": 50.808,
        "volume": 39372,
        "typical_volume": 90430.55,
        "trend": 49.159317,
        "fair_value": 42.820718,
        "relative_strength": -2.869144,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 73.789307,
        "energy": 72.402047,
        "activity_lines": [
          50.63078,
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          50.208055,
          49.729089
        ]
      },
      {
        "date": "2026-08-07",
        "close": 51.335,
        "volume": 74075,
        "typical_volume": 66223.6,
        "trend": 49.269817,
        "fair_value": 42.922211,
        "relative_strength": -5.042856,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 87.022627,
        "energy": 76.366106,
        "activity_lines": [
          50.8728,
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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."
    }
  }
}