{
  "ticker": {
    "uuid": "5c70354b-7890-4436-b5c6-ac926c2e774a",
    "symbol": "IYLD",
    "name": "ISHARES MORNINGSTAR MULTI-ASSET INCOME ETF",
    "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": 3,
    "stage_name": "Distribution",
    "phase": "3a",
    "phase_label": "Stage 3A \u00b7 Churning",
    "transition": "stage_3_churning",
    "transition_label": "Stage 3 range intact",
    "confidence": 75.47,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Established expansion",
    "architecture_gate": "up",
    "architecture_direction": 71.8,
    "architecture_energy": 50.785,
    "architecture_maturity": 31.443,
    "architecture_confidence": 78.363,
    "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": 32.34,
        "rotation_up": 57.98,
        "upward_expansion": 81.62,
        "deceleration": 50.16,
        "rotation_down": 18.22,
        "downward_expansion": 8.29
      },
      "activity_lines": [
        22.112585,
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        22.015251,
        21.955446
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      "activity_state": "Compressed",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 0.666667
    },
    "latest_close": 22.2926,
    "trend_reference": 21.897525,
    "distance_from_trend": 0.018042,
    "trend_direction": "Improving",
    "fair_value": 19.286534,
    "distance_from_fair_value": 0.155863,
    "fair_value_direction": "Weakening",
    "relative_strength": -7.121829,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.012629,
    "excess_performance": -0.112996,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.018042,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.016019,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.155863,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.014967,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.071218,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.01373,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.012629,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.720879,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 57930,
      "relative_activity": 0.752123,
      "balance": 1.720879,
      "dry_up": 0.584781,
      "accumulation_observations": 3,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.009886,
      "annualized_volatility": 0.062866,
      "from_high_reference": -0.002568,
      "from_low_reference": 0.119962
    },
    "levels": {
      "trend_reference": 21.897525,
      "fair_value_reference": 19.286534,
      "structural_low": 21.239725,
      "invalidation": "A decisive breakout above range resistance with renewed RS leadership invalidates the distribution reading; a range-low break confirms deterioration."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 32,
        "median_return": 0.006745,
        "positive_rate": 0.6875,
        "directional_follow_through": 0.6875,
        "median_excess_return": -0.010676,
        "regime_survival": 0.75,
        "best_return": 0.039473,
        "worst_return": -0.030703,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
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        "directional_follow_through": 0.666667,
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        "worst_return": -0.033812,
        "sufficient": true
      },
      {
        "horizon": "Extended",
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        "directional_follow_through": 0.714286,
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        "worst_return": -0.007947,
        "sufficient": true
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      {
        "horizon": "Full cycle",
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        "worst_return": -0.156631,
        "sufficient": false
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        "regime": "deceleration",
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        "regime": "rotation_down",
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        "regime": "balance",
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      },
      {
        "date": "2026-04-17",
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        "date": "2026-06-05",
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      },
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      },
      {
        "date": "2026-07-03",
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      },
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      },
      {
        "date": "2026-07-17",
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        "relative_strength": -5.134347,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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        "direction": 49.024924,
        "energy": 25.335031,
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        ]
      },
      {
        "date": "2026-07-24",
        "close": 21.969418,
        "volume": 61301,
        "typical_volume": 78878.95,
        "trend": 21.837585,
        "fair_value": 19.216422,
        "relative_strength": -4.530727,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 37.442473,
        "energy": 20.420901,
        "activity_lines": [
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      },
      {
        "date": "2026-07-31",
        "close": 22.079466,
        "volume": 20715,
        "typical_volume": 77059.9,
        "trend": 21.867123,
        "fair_value": 19.250491,
        "relative_strength": -4.945438,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 54.261824,
        "energy": 28.347365,
        "activity_lines": [
          22.019764,
          22.011,
          21.977245,
          21.927996
        ]
      },
      {
        "date": "2026-08-07",
        "close": 22.2926,
        "volume": 57930,
        "typical_volume": 77021.95,
        "trend": 21.897525,
        "fair_value": 19.286534,
        "relative_strength": -7.121829,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 71.800258,
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        "activity_lines": [
          22.112585,
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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."
    }
  }
}