{
  "ticker": {
    "uuid": "77d5f860-a9cd-4b36-af70-974e7085eb78",
    "symbol": "FXP",
    "name": "PROSHARES TRUST ULTRASHORT FTSE CHINA 50 NEW (REV/SPT)",
    "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": 1,
    "stage_name": "Basing",
    "phase": "1b",
    "phase_label": "Stage 1B \u00b7 Basing",
    "transition": "stage_1_building",
    "transition_label": "Base still building",
    "confidence": 96.0,
    "architecture_regime": "deceleration",
    "architecture_regime_label": "Deceleration",
    "architecture_modifier": "Recompressing",
    "architecture_gate": "up",
    "architecture_direction": 5.084,
    "architecture_energy": 24.656,
    "architecture_maturity": 62.031,
    "architecture_confidence": 79.772,
    "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": 52.13,
        "rotation_up": 15.98,
        "upward_expansion": 50.52,
        "deceleration": 91.07,
        "rotation_down": 46.63,
        "downward_expansion": 27.85
      },
      "activity_lines": [
        20.269727,
        21.609159,
        21.406915,
        21.00074
      ],
      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": -0.166667
    },
    "latest_close": 19.4374,
    "trend_reference": 20.202915,
    "distance_from_trend": -0.037891,
    "trend_direction": "Improving",
    "fair_value": 37.705759,
    "distance_from_fair_value": -0.484498,
    "fair_value_direction": "Improving",
    "relative_strength": -8.670365,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.128146,
    "excess_performance": 0.002521,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.037891,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.084097,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.484498,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.05398,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.086704,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.027331,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.128146,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.161947,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 22496,
      "relative_activity": 0.848681,
      "balance": 1.161947,
      "dry_up": 0.763713,
      "accumulation_observations": 0,
      "distribution_observations": 0
    },
    "risk": {
      "range_context": 0.102007,
      "annualized_volatility": 0.398187,
      "from_high_reference": -0.258115,
      "from_low_reference": 0.248257
    },
    "levels": {
      "trend_reference": 20.202915,
      "fair_value_reference": 37.705759,
      "structural_low": 16.82758,
      "invalidation": "A renewed decline below the structural range low, widening the discount to current Fair Value while Trend falls, weakens the base diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 8,
        "median_return": -0.03898,
        "positive_rate": 0.375,
        "directional_follow_through": 0.375,
        "median_excess_return": -0.055603,
        "regime_survival": 0.375,
        "best_return": 0.214555,
        "worst_return": -0.22344,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 5,
        "median_return": -0.008152,
        "positive_rate": 0.4,
        "directional_follow_through": 0.4,
        "median_excess_return": -0.047401,
        "regime_survival": 0.2,
        "best_return": 0.129222,
        "worst_return": -0.267034,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 3,
        "median_return": -0.208747,
        "positive_rate": 0.333333,
        "directional_follow_through": 0.333333,
        "median_excess_return": -0.287141,
        "regime_survival": 0.0,
        "best_return": 0.030183,
        "worst_return": -0.234269,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
        "median_return": -0.262432,
        "positive_rate": 0.333333,
        "directional_follow_through": 0.333333,
        "median_excess_return": -0.412086,
        "regime_survival": 0.0,
        "best_return": 0.201763,
        "worst_return": -0.639295,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2023-04-21",
        "end": "2023-05-05",
        "tenure": "New",
        "return": -0.021305,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2023-05-12",
        "end": "2023-08-04",
        "tenure": "Established",
        "return": -0.140902,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2023-08-11",
        "end": "2023-08-18",
        "tenure": "New",
        "return": 0.132796,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2023-08-25",
        "end": "2023-10-20",
        "tenure": "Developing",
        "return": 0.129211,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2023-10-27",
        "end": "2024-02-23",
        "tenure": "Established",
        "return": 0.022477,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-03-01",
        "end": "2024-04-26",
        "tenure": "Developing",
        "return": -0.148511,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-05-03",
        "end": "2024-08-02",
        "tenure": "Established",
        "return": 0.157622,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2024-08-09",
        "end": "2024-09-20",
        "tenure": "Developing",
        "return": -0.121283,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-09-27",
        "end": "2025-12-05",
        "tenure": "Extended",
        "return": -0.504194,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-12-12",
        "end": "2026-03-06",
        "tenure": "Established",
        "return": 0.154564,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2026-03-13",
        "end": "2026-04-24",
        "tenure": "Developing",
        "return": -0.041974,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2026-05-01",
        "end": "2026-05-29",
        "tenure": "Developing",
        "return": 0.094688,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "start": "2026-06-05",
        "end": "2026-07-24",
        "tenure": "Developing",
        "return": -0.013134,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2026-07-31",
        "end": "2026-08-07",
        "tenure": "New",
        "return": 0.019266,
        "active": true
      }
    ],
    "chart_path": [
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        "date": "2023-08-18",
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      },
      {
        "date": "2026-07-17",
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        "typical_volume": 34955.8,
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      },
      {
        "date": "2026-07-24",
        "close": 21.2753,
        "volume": 22869,
        "typical_volume": 28732.75,
        "trend": 20.052857,
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        "relative_strength": 3.667921,
        "stage": 1,
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        "modifier": "Re-accelerating",
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        "direction": 44.255028,
        "energy": 30.615535,
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      },
      {
        "date": "2026-07-31",
        "close": 19.07,
        "volume": 22817,
        "typical_volume": 28021.2,
        "trend": 20.128075,
        "fair_value": 37.941285,
        "relative_strength": -7.613672,
        "stage": 1,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 5.793707,
        "energy": 17.989848,
        "activity_lines": [
          21.154413,
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      },
      {
        "date": "2026-08-07",
        "close": 19.4374,
        "volume": 22496,
        "typical_volume": 26507.0,
        "trend": 20.202915,
        "fair_value": 37.705759,
        "relative_strength": -8.670365,
        "stage": 1,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 5.084061,
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        "activity_lines": [
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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."
    }
  }
}