{
  "ticker": {
    "uuid": "6bb8c1ca-faee-47e8-8a59-feba8b152146",
    "symbol": "GGT",
    "name": "Gabelli Multimedia Trust Inc",
    "exchange": "NYSE",
    "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": "2c",
    "phase_label": "Stage 2C \u00b7 Late advance",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 59.544,
    "architecture_regime": "deceleration",
    "architecture_regime_label": "Deceleration",
    "architecture_modifier": "Recompressing",
    "architecture_gate": "up",
    "architecture_direction": 54.372,
    "architecture_energy": 26.735,
    "architecture_maturity": 37.736,
    "architecture_confidence": 70.252,
    "architecture_tenure": "Developing",
    "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": 38.24,
        "rotation_up": 37.71,
        "upward_expansion": 69.1,
        "deceleration": 88.54,
        "rotation_down": 26.04,
        "downward_expansion": 7.1
      },
      "activity_lines": [
        4.117289,
        4.113246,
        4.11046,
        4.057319
      ],
      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.5
    },
    "latest_close": 4.16,
    "trend_reference": 3.985801,
    "distance_from_trend": 0.043705,
    "trend_direction": "Improving",
    "fair_value": 3.561254,
    "distance_from_fair_value": 0.168128,
    "fair_value_direction": "Weakening",
    "relative_strength": -3.016148,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.086968,
    "excess_performance": -0.038656,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.043705,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.038616,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.168128,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.00941,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.030161,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.044272,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.086968,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.57368,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 1092942,
      "relative_activity": 0.747172,
      "balance": 0.57368,
      "dry_up": 1.147249,
      "accumulation_observations": 1,
      "distribution_observations": 6
    },
    "risk": {
      "range_context": 0.030259,
      "annualized_volatility": 0.154247,
      "from_high_reference": -0.027996,
      "from_low_reference": 0.218623
    },
    "levels": {
      "trend_reference": 3.985801,
      "fair_value_reference": 3.561254,
      "structural_low": 3.705065,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 9,
        "median_return": -0.012107,
        "positive_rate": 0.444444,
        "directional_follow_through": 0.444444,
        "median_excess_return": 0.034388,
        "regime_survival": 0.444444,
        "best_return": 0.079482,
        "worst_return": -0.21843,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 5,
        "median_return": -0.023561,
        "positive_rate": 0.4,
        "directional_follow_through": 0.4,
        "median_excess_return": -0.083778,
        "regime_survival": 0.0,
        "best_return": 0.102758,
        "worst_return": -0.128673,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 4,
        "median_return": -0.00806,
        "positive_rate": 0.25,
        "directional_follow_through": 0.25,
        "median_excess_return": -0.05934,
        "regime_survival": 0.0,
        "best_return": 0.151793,
        "worst_return": -0.058077,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 2,
        "median_return": -0.075401,
        "positive_rate": 0.0,
        "directional_follow_through": 0.0,
        "median_excess_return": -0.182184,
        "regime_survival": 0.0,
        "best_return": -0.044326,
        "worst_return": -0.106475,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2024-10-04",
        "end": "2024-10-18",
        "tenure": "New",
        "return": -0.040797,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-10-25",
        "end": "2024-12-06",
        "tenure": "Developing",
        "return": 0.107027,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2024-12-13",
        "end": "2025-01-03",
        "tenure": "New",
        "return": -0.046242,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-01-10",
        "end": "2025-01-31",
        "tenure": "New",
        "return": 0.058442,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-02-07",
        "end": "2025-04-04",
        "tenure": "Developing",
        "return": -0.060448,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-04-11",
        "end": "2025-05-30",
        "tenure": "Developing",
        "return": -0.039597,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-06-06",
        "end": "2025-07-18",
        "tenure": "Developing",
        "return": 0.096396,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2025-07-25",
        "end": "2025-09-12",
        "tenure": "Developing",
        "return": 0.035634,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-09-19",
        "end": "2025-10-17",
        "tenure": "Developing",
        "return": -0.037736,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-10-24",
        "end": "2025-11-28",
        "tenure": "Developing",
        "return": 0.051663,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-12-05",
        "end": "2026-02-20",
        "tenure": "Developing",
        "return": 0.012907,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2026-02-27",
        "end": "2026-03-06",
        "tenure": "New",
        "return": 0.009569,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2026-03-13",
        "end": "2026-06-26",
        "tenure": "Established",
        "return": 0.035741,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "end": "2026-08-07",
        "tenure": "Developing",
        "return": 0.007264,
        "active": true
      }
    ],
    "chart_path": [
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        "date": "2023-08-18",
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      },
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      },
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      },
      {
        "date": "2026-07-17",
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        "typical_volume": 1479799.85,
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        "fair_value": 3.551937,
        "relative_strength": 0.051739,
        "stage": 2,
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        "modifier": "Recompressing",
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        "direction": 36.556949,
        "energy": 20.374681,
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        ]
      },
      {
        "date": "2026-07-24",
        "close": 4.07,
        "volume": 1970290,
        "typical_volume": 1506597.8,
        "trend": 3.962686,
        "fair_value": 3.554183,
        "relative_strength": -0.793457,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
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        "energy": 24.864429,
        "activity_lines": [
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      },
      {
        "date": "2026-07-31",
        "close": 4.08,
        "volume": 1391491,
        "typical_volume": 1504104.55,
        "trend": 3.97261,
        "fair_value": 3.557517,
        "relative_strength": -1.584471,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 34.911034,
        "energy": 20.80689,
        "activity_lines": [
          4.102578,
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          4.099602,
          4.045229
        ]
      },
      {
        "date": "2026-08-07",
        "close": 4.16,
        "volume": 1092942,
        "typical_volume": 1462771.65,
        "trend": 3.985801,
        "fair_value": 3.561254,
        "relative_strength": -3.016148,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 54.372034,
        "energy": 26.735126,
        "activity_lines": [
          4.117289,
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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."
    }
  }
}