{
  "ticker": {
    "uuid": "647956d7-43d4-439f-b249-5f8d705a3a2a",
    "symbol": "CVAR",
    "name": "CULTIVAR ETF",
    "exchange": "CBOE",
    "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": "3b",
    "phase_label": "Stage 3B \u00b7 Distribution",
    "transition": "stage_3_churning",
    "transition_label": "Stage 3 range intact",
    "confidence": 54.872,
    "architecture_regime": "rotation_up",
    "architecture_regime_label": "Rotation Up",
    "architecture_modifier": "Value reclamation",
    "architecture_gate": "mixed",
    "architecture_direction": 65.139,
    "architecture_energy": 79.878,
    "architecture_maturity": 11.004,
    "architecture_confidence": 63.615,
    "architecture_tenure": "New",
    "architecture": {
      "interpretation": {
        "headline": "The Activity Line structure is rotating upward.",
        "body": "Fast Activity is improving relative to Slow Activity and price acceptance is strengthening. This is earlier than full positive Trend confirmation and remains a developing repair."
      },
      "scores": {
        "balance": 15.1,
        "rotation_up": 83.06,
        "upward_expansion": 69.01,
        "deceleration": 18.02,
        "rotation_down": 16.26,
        "downward_expansion": 25.01
      },
      "activity_lines": [
        30.084407,
        29.618267,
        29.208256,
        29.09426
      ],
      "activity_state": "Wide",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 1.0
    },
    "latest_close": 30.9164,
    "trend_reference": 29.096283,
    "distance_from_trend": 0.062555,
    "trend_direction": "Improving",
    "fair_value": 25.708805,
    "distance_from_fair_value": 0.202561,
    "fair_value_direction": "Improving",
    "relative_strength": -3.47911,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.043063,
    "excess_performance": -0.082561,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.062555,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.013916,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.202561,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.062536,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.034791,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.04451,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.043063,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.819104,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 3754,
      "relative_activity": 0.405836,
      "balance": 0.819104,
      "dry_up": 0.927427,
      "accumulation_observations": 3,
      "distribution_observations": 5
    },
    "risk": {
      "range_context": 0.019227,
      "annualized_volatility": 0.127847,
      "from_high_reference": 0.0,
      "from_low_reference": 0.187509
    },
    "levels": {
      "trend_reference": 29.096283,
      "fair_value_reference": 25.708805,
      "structural_low": 27.89,
      "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": 5,
        "median_return": -0.009973,
        "positive_rate": 0.2,
        "directional_follow_through": 0.2,
        "median_excess_return": -0.035465,
        "regime_survival": 0.4,
        "best_return": 0.020569,
        "worst_return": -0.03855,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 3,
        "median_return": -0.001387,
        "positive_rate": 0.333333,
        "directional_follow_through": 0.333333,
        "median_excess_return": -0.062058,
        "regime_survival": 0.0,
        "best_return": 0.071511,
        "worst_return": -0.098203,
        "sufficient": false
      },
      {
        "horizon": "Extended",
        "sample_count": 3,
        "median_return": 0.055198,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.666667,
        "median_excess_return": -0.072038,
        "regime_survival": 0.333333,
        "best_return": 0.111111,
        "worst_return": -0.002938,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 2,
        "median_return": 0.077412,
        "positive_rate": 1.0,
        "directional_follow_through": 1.0,
        "median_excess_return": -0.189778,
        "regime_survival": 0.0,
        "best_return": 0.102727,
        "worst_return": 0.052098,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2024-06-14",
        "end": "2024-07-19",
        "tenure": "Developing",
        "return": 0.061075,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-07-26",
        "end": "2024-12-27",
        "tenure": "Established",
        "return": -0.016768,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-01-03",
        "end": "2025-01-10",
        "tenure": "New",
        "return": -0.023381,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2025-01-17",
        "end": "2025-01-31",
        "tenure": "New",
        "return": 0.007425,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-02-07",
        "end": "2025-03-28",
        "tenure": "Developing",
        "return": 0.022524,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-04-04",
        "end": "2025-05-09",
        "tenure": "Developing",
        "return": 0.05973,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-05-16",
        "end": "2025-06-13",
        "tenure": "Developing",
        "return": 0.013645,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2025-06-20",
        "end": "2025-06-27",
        "tenure": "New",
        "return": 0.015029,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-07-04",
        "end": "2025-11-14",
        "tenure": "Established",
        "return": 0.023194,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-11-21",
        "end": "2025-12-05",
        "tenure": "New",
        "return": 0.039074,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-12-12",
        "end": "2026-03-13",
        "tenure": "Established",
        "return": -0.004654,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2026-03-20",
        "end": "2026-05-15",
        "tenure": "Developing",
        "return": 0.008799,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2026-05-22",
        "end": "2026-07-17",
        "tenure": "Developing",
        "return": 0.026745,
        "active": false
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      {
        "regime": "rotation_up",
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        "tenure": "New",
        "return": 0.052846,
        "active": true
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    ],
    "chart_path": [
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        "date": "2023-08-18",
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        "relative_strength": -4.273125,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 26.079537,
        "energy": 15.171391,
        "activity_lines": [
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        ]
      },
      {
        "date": "2026-05-01",
        "close": 28.7342,
        "volume": 15734,
        "typical_volume": 7549.7,
        "trend": 28.574999,
        "fair_value": 25.145198,
        "relative_strength": -5.966915,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 27.36354,
        "energy": 20.857584,
        "activity_lines": [
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        ]
      },
      {
        "date": "2026-05-08",
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        "volume": 5516,
        "typical_volume": 7461.75,
        "trend": 28.626773,
        "fair_value": 25.18902,
        "relative_strength": -7.930097,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Re-acceleration watch",
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        "energy": 23.440576,
        "activity_lines": [
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      },
      {
        "date": "2026-05-15",
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        "typical_volume": 7355.85,
        "trend": 28.64,
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        "relative_strength": -9.727265,
        "stage": 3,
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        "modifier": "Recompressing",
        "gate": "mixed",
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        "energy": 10.90494,
        "activity_lines": [
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      },
      {
        "date": "2026-05-22",
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        "typical_volume": 7164.6,
        "trend": 28.650817,
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        "relative_strength": -8.57601,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": -16.516993,
        "energy": 15.070614,
        "activity_lines": [
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        ]
      },
      {
        "date": "2026-05-29",
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        "typical_volume": 6994.2,
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        "fair_value": 25.313453,
        "relative_strength": -9.042391,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
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        "energy": 11.205162,
        "activity_lines": [
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      },
      {
        "date": "2026-06-05",
        "close": 28.5075,
        "volume": 12437,
        "typical_volume": 7348.85,
        "trend": 28.747807,
        "fair_value": 25.351213,
        "relative_strength": -7.746815,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": -22.654486,
        "energy": 17.241241,
        "activity_lines": [
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      },
      {
        "date": "2026-06-12",
        "close": 28.8409,
        "volume": 9602,
        "typical_volume": 6801.75,
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        "stage": 3,
        "regime": "balance",
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      },
      {
        "date": "2026-06-19",
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        "relative_strength": -9.482879,
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        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "down",
        "direction": -59.097737,
        "energy": 30.835984,
        "activity_lines": [
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      },
      {
        "date": "2026-06-26",
        "close": 28.87,
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        "typical_volume": 7725.5,
        "trend": 28.86646,
        "fair_value": 25.464955,
        "relative_strength": -5.119822,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "down",
        "direction": -26.712141,
        "energy": 15.175162,
        "activity_lines": [
          28.653013,
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      },
      {
        "date": "2026-07-03",
        "close": 29.34,
        "volume": 8053,
        "typical_volume": 7917.1,
        "trend": 28.908749,
        "fair_value": 25.506504,
        "relative_strength": -5.45376,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "down",
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        "activity_lines": [
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      },
      {
        "date": "2026-07-10",
        "close": 29.0189,
        "volume": 13477,
        "typical_volume": 8543.45,
        "trend": 28.92521,
        "fair_value": 25.542373,
        "relative_strength": -7.546517,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": 11.84685,
        "energy": 20.276939,
        "activity_lines": [
          28.960907,
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      },
      {
        "date": "2026-07-17",
        "close": 29.4573,
        "volume": 11639,
        "typical_volume": 8992.85,
        "trend": 28.958157,
        "fair_value": 25.579252,
        "relative_strength": -4.567375,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": 33.398518,
        "energy": 42.501051,
        "activity_lines": [
          29.158413,
          28.954782,
          28.80271,
          28.870959
        ]
      },
      {
        "date": "2026-07-24",
        "close": 29.3646,
        "volume": 12521,
        "typical_volume": 9523.9,
        "trend": 28.982977,
        "fair_value": 25.615474,
        "relative_strength": -4.198017,
        "stage": 3,
        "regime": "rotation_up",
        "modifier": "Emerging rotation",
        "gate": "mixed",
        "direction": 26.417654,
        "energy": 50.088313,
        "activity_lines": [
          29.283927,
          29.057122,
          28.865946,
          28.897181
        ]
      },
      {
        "date": "2026-07-31",
        "close": 30.1642,
        "volume": 6401,
        "typical_volume": 9527.4,
        "trend": 29.042897,
        "fair_value": 25.659275,
        "relative_strength": -2.589853,
        "stage": 3,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "mixed",
        "direction": 57.70967,
        "energy": 68.018744,
        "activity_lines": [
          29.60194,
          29.282715,
          29.0055,
          28.973389
        ]
      },
      {
        "date": "2026-08-07",
        "close": 30.9164,
        "volume": 3754,
        "typical_volume": 9250.05,
        "trend": 29.096283,
        "fair_value": 25.708805,
        "relative_strength": -3.47911,
        "stage": 3,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "mixed",
        "direction": 65.139164,
        "energy": 79.877675,
        "activity_lines": [
          30.084407,
          29.618267,
          29.208256,
          29.09426
        ]
      }
    ],
    "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."
    }
  }
}