{ "ticker": { "uuid": "69f1df8d-fe6c-4c64-a63b-8e0b9b4190b9", "symbol": "JMHI", "name": "JP MORGAN ETF TRUST HIGH YIELD MUNICIPAL ETF USD", "exchange": "NYSEARCA", "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": "3b", "phase_label": "Stage 3B \u00b7 Distribution", "transition": "stage_3_churning", "transition_label": "Stage 3 range intact", "confidence": 80.271, "architecture_regime": "deceleration", "architecture_regime_label": "Deceleration", "architecture_modifier": "Recompressing", "architecture_gate": "mixed", "architecture_direction": -12.317, "architecture_energy": 22.802, "architecture_maturity": 35.772, "architecture_confidence": 56.028, "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": 53.8, "rotation_up": 17.36, "upward_expansion": 16.96, "deceleration": 66.5, "rotation_down": 54.88, "downward_expansion": 37.3 }, "activity_lines": [ 49.558043, 49.778728, 49.795261, 49.77071 ], "activity_state": "Compressed", "activity_direction": "Contracting", "rotation_direction": "Weakening", "price_acceptance": -0.166667 }, "latest_close": 49.66, "trend_reference": 49.757173, "distance_from_trend": -0.001953, "trend_direction": "Improving", "fair_value": 46.958349, "distance_from_fair_value": 0.057533, "fair_value_direction": "Weakening", "relative_strength": -10.472866, "relative_strength_direction": "Weakening", "price_momentum": -0.002636, "excess_performance": -0.128261, "evidence": [ { "label": "Price vs Trend", "positive": false, "value": -0.001953, "read": "Below" }, { "label": "Trend direction", "positive": true, "value": 0.003972, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.057533, "read": "Premium" }, { "label": "Fair Value direction", "positive": false, "value": -0.009254, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.104729, "read": "Lagging" }, { "label": "Relative strength direction", "positive": false, "value": -0.01045, "read": "Weakening" }, { "label": "Price momentum", "positive": false, "value": -0.002636, "read": "Negative" }, { "label": "Volume balance", "positive": false, "value": 0.503673, "read": "Supply-led" } ], "volume": { "latest": 143264, "relative_activity": 1.000356, "balance": 0.503673, "dry_up": 1.680141, "accumulation_observations": 1, "distribution_observations": 2 }, "risk": { "range_context": 0.009912, "annualized_volatility": 0.040067, "from_high_reference": -0.016222, "from_low_reference": 0.051407 }, "levels": { "trend_reference": 49.757173, "fair_value_reference": 46.958349, "structural_low": 48.805727, 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"close": 49.66, "volume": 143264, "typical_volume": 143212.95, "trend": 49.757173, "fair_value": 46.958349, "relative_strength": -10.472866, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -12.317301, "energy": 22.801662, "activity_lines": [ 49.558043, 49.778728, 49.795261, 49.77071 ] } ], "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." } } }