{
  "ticker": {
    "uuid": "60866ad2-22e2-4f2a-acea-5c8ffe3b037d",
    "symbol": "FHQ",
    "name": "FT AlphaDEX U.S. Technology Sector Index ETF",
    "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": "deceleration",
    "architecture_regime_label": "Deceleration",
    "architecture_modifier": "Recompressing",
    "architecture_gate": "up",
    "architecture_direction": 58.84,
    "architecture_energy": 32.878,
    "architecture_maturity": 74.166,
    "architecture_confidence": 87.282,
    "architecture_tenure": "New",
    "architecture": {
      "interpretation": {
        "headline": "The upward structure remains, but its energy is decelerating.",
        "body": "Trend remains positive, but Activity or price acceptance is losing strength. This can become a healthy recompression, a re-acceleration, or a Rotation Down."
      },
      "scores": {
        "balance": 27.49,
        "rotation_up": 32.12,
        "upward_expansion": 60.68,
        "deceleration": 88.33,
        "rotation_down": 27.82,
        "downward_expansion": 22.01
      },
      "activity_lines": [
        135.199335,
        136.344183,
        133.733906,
        128.210904
      ],
      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.333333
    },
    "latest_close": 141.669998,
    "trend_reference": 121.649334,
    "distance_from_trend": 0.164577,
    "trend_direction": "Improving",
    "fair_value": 98.320786,
    "distance_from_fair_value": 0.440896,
    "fair_value_direction": "Improving",
    "relative_strength": 8.081097,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.301516,
    "excess_performance": 0.181095,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.164577,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.079527,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.440896,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.074239,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.080811,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.036497,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.301516,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.467033,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 1500,
      "relative_activity": 0.837989,
      "balance": 0.467033,
      "dry_up": 0.949721,
      "accumulation_observations": 1,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.044665,
      "annualized_volatility": 0.25867,
      "from_high_reference": -0.023235,
      "from_low_reference": 0.410775
    },
    "levels": {
      "trend_reference": 121.649334,
      "fair_value_reference": 98.320786,
      "structural_low": 100.419998,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 12,
        "median_return": -0.001414,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": -0.016585,
        "regime_survival": 0.333333,
        "best_return": 0.093794,
        "worst_return": -0.161553,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 7,
        "median_return": 0.036183,
        "positive_rate": 0.571429,
        "directional_follow_through": 0.571429,
        "median_excess_return": -0.03128,
        "regime_survival": 0.142857,
        "best_return": 0.05442,
        "worst_return": -0.10662,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 5,
        "median_return": 0.063237,
        "positive_rate": 0.8,
        "directional_follow_through": 0.8,
        "median_excess_return": -0.045628,
        "regime_survival": 0.0,
        "best_return": 0.232254,
        "worst_return": -0.132963,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
        "median_return": -0.081479,
        "positive_rate": 0.333333,
        "directional_follow_through": 0.333333,
        "median_excess_return": -0.123209,
        "regime_survival": 0.0,
        "best_return": 0.320121,
        "worst_return": -0.259872,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-03-07",
        "end": "2025-03-14",
        "tenure": "New",
        "return": -0.020525,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2025-03-21",
        "end": "2025-04-11",
        "tenure": "New",
        "return": -0.117471,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-04-18",
        "end": "2025-05-30",
        "tenure": "Developing",
        "return": 0.156379,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-06-06",
        "end": "2025-06-27",
        "tenure": "New",
        "return": 0.032367,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2025-07-04",
        "end": "2025-08-01",
        "tenure": "Developing",
        "return": -0.011787,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-08-08",
        "end": "2025-11-21",
        "tenure": "Established",
        "return": 0.019106,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-11-28",
        "end": "2026-01-16",
        "tenure": "Developing",
        "return": 0.054702,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2026-01-23",
        "end": "2026-01-30",
        "tenure": "New",
        "return": -0.031833,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2026-02-06",
        "end": "2026-02-20",
        "tenure": "New",
        "return": -0.010565,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2026-02-27",
        "end": "2026-03-13",
        "tenure": "New",
        "return": -0.021086,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2026-03-20",
        "end": "2026-04-24",
        "tenure": "Developing",
        "return": 0.106613,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2026-05-01",
        "end": "2026-05-08",
        "tenure": "New",
        "return": 0.065604,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2026-05-15",
        "end": "2026-07-17",
        "tenure": "Developing",
        "return": 0.033955,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2026-07-24",
        "end": "2026-08-07",
        "tenure": "New",
        "return": 0.073258,
        "active": true
      }
    ],
    "chart_path": [
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        "date": "2023-08-18",
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        "typical_volume": 2105.0,
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      },
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        "typical_volume": 1825.0,
        "trend": 110.584666,
        "fair_value": 92.533751,
        "relative_strength": -1.444347,
        "stage": 3,
        "regime": "rotation_up",
        "modifier": "Structural repair",
        "gate": "mixed",
        "direction": 44.448953,
        "energy": 66.941367,
        "activity_lines": [
          115.875999,
          111.922727,
          110.271428,
          110.333398
        ]
      },
      {
        "date": "2026-05-08",
        "close": 127.019997,
        "volume": 900,
        "typical_volume": 1780.0,
        "trend": 111.161,
        "fair_value": 92.942113,
        "relative_strength": 4.431426,
        "stage": 2,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "up",
        "direction": 94.267964,
        "energy": 97.338423,
        "activity_lines": [
          120.347331,
          115.117454,
          111.874,
          111.393742
        ]
      },
      {
        "date": "2026-05-15",
        "close": 126.050003,
        "volume": 700,
        "typical_volume": 1765.0,
        "trend": 111.672667,
        "fair_value": 93.323686,
        "relative_strength": 4.447965,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 85.741619,
        "energy": 94.568804,
        "activity_lines": [
          123.115999,
          117.757818,
          113.312762,
          112.354322
        ]
      },
      {
        "date": "2026-05-22",
        "close": 127.839996,
        "volume": 100,
        "typical_volume": 1685.0,
        "trend": 112.091,
        "fair_value": 93.693212,
        "relative_strength": 3.955925,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 83.136447,
        "energy": 93.635614,
        "activity_lines": [
          125.377998,
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          114.849476,
          113.397376
        ]
      },
      {
        "date": "2026-05-29",
        "close": 134.710007,
        "volume": 5100,
        "typical_volume": 1875.0,
        "trend": 112.687667,
        "fair_value": 94.113378,
        "relative_strength": 8.465032,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 93.05039,
        "energy": 97.216184,
        "activity_lines": [
          129.086668,
          123.745273,
          116.955905,
          114.856667
        ]
      },
      {
        "date": "2026-06-05",
        "close": 145.039993,
        "volume": 0,
        "typical_volume": 1785.0,
        "trend": 113.785,
        "fair_value": 94.599185,
        "relative_strength": 17.666853,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 97.781359,
        "energy": 98.898921,
        "activity_lines": [
          135.111999,
          128.511272,
          119.952285,
          116.943914
        ]
      },
      {
        "date": "2026-06-12",
        "close": 137.960007,
        "volume": 0,
        "typical_volume": 1715.0,
        "trend": 114.729333,
        "fair_value": 95.023265,
        "relative_strength": 10.085308,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 73.995902,
        "energy": 89.496318,
        "activity_lines": [
          137.054668,
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          122.132762,
          118.503591
        ]
      },
      {
        "date": "2026-06-19",
        "close": 142.990005,
        "volume": 0,
        "typical_volume": 1645.0,
        "trend": 115.993,
        "fair_value": 95.495034,
        "relative_strength": 13.760075,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 82.655695,
        "energy": 91.982474,
        "activity_lines": [
          139.944669,
          134.338365,
          124.673858,
          120.326861
        ]
      },
      {
        "date": "2026-06-26",
        "close": 138.639999,
        "volume": 100,
        "typical_volume": 1570.0,
        "trend": 116.970333,
        "fair_value": 95.924819,
        "relative_strength": 10.160898,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 68.341536,
        "energy": 73.50993,
        "activity_lines": [
          140.255335,
          136.021819,
          126.641144,
          121.787957
        ]
      },
      {
        "date": "2026-07-03",
        "close": 138.110001,
        "volume": 12900,
        "typical_volume": 2130.0,
        "trend": 117.797,
        "fair_value": 96.348322,
        "relative_strength": 8.853909,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 66.3327,
        "energy": 66.252264,
        "activity_lines": [
          139.669335,
          137.182547,
          128.416096,
          123.151807
        ]
      },
      {
        "date": "2026-07-10",
        "close": 140.580002,
        "volume": 1000,
        "typical_volume": 1930.0,
        "trend": 118.76,
        "fair_value": 96.772919,
        "relative_strength": 10.478168,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 69.702965,
        "energy": 66.221388,
        "activity_lines": [
          139.680002,
          138.423274,
          130.278239,
          124.621678
        ]
      },
      {
        "date": "2026-07-17",
        "close": 130.330002,
        "volume": 3700,
        "typical_volume": 1990.0,
        "trend": 119.370334,
        "fair_value": 97.136104,
        "relative_strength": 2.595552,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 50.827268,
        "energy": 49.582158,
        "activity_lines": [
          136.571335,
          137.411638,
          131.00762,
          125.36813
        ]
      },
      {
        "date": "2026-07-24",
        "close": 132.0,
        "volume": 800,
        "typical_volume": 1880.0,
        "trend": 120.076334,
        "fair_value": 97.503586,
        "relative_strength": 3.641726,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 45.100108,
        "energy": 37.716707,
        "activity_lines": [
          134.528001,
          136.643456,
          131.781287,
          126.182947
        ]
      },
      {
        "date": "2026-07-31",
        "close": 130.600006,
        "volume": 800,
        "typical_volume": 1860.0,
        "trend": 120.760334,
        "fair_value": 97.870297,
        "relative_strength": 3.001572,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 38.467731,
        "energy": 27.948921,
        "activity_lines": [
          132.750669,
          135.512548,
          132.293811,
          126.861893
        ]
      },
      {
        "date": "2026-08-07",
        "close": 141.669998,
        "volume": 1500,
        "typical_volume": 1790.0,
        "trend": 121.649334,
        "fair_value": 98.320786,
        "relative_strength": 8.081097,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 58.839744,
        "energy": 32.877748,
        "activity_lines": [
          135.199335,
          136.344183,
          133.733906,
          128.210904
        ]
      }
    ],
    "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."
    }
  }
}