{ "ticker": { "uuid": "7cdee62d-f3a1-416a-ab02-971b6cc5b1c9", "symbol": "LEGR", "name": "FIRST TRUST INDXX INNOVATIVE TRANSACTION & PROCESS ETF", "exchange": "NASDAQ", "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": "QQQ", "stage": 2, "stage_name": "Advancing", "phase": "2b", "phase_label": "Stage 2B \u00b7 Advancing", "transition": "stage_2_healthy", "transition_label": "Stage 2 trend intact", "confidence": 78.622, "architecture_regime": "deceleration", "architecture_regime_label": "Deceleration", "architecture_modifier": "Momentum cooling", "architecture_gate": "up", "architecture_direction": 72.157, "architecture_energy": 48.896, "architecture_maturity": 19.212, "architecture_confidence": 78.269, "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": 31.45, "rotation_up": 50.6, "upward_expansion": 78.33, "deceleration": 56.75, "rotation_down": 23.38, "downward_expansion": 7.33 }, "activity_lines": [ 65.06554, 64.673856, 64.229177, 63.219782 ], "activity_state": "Moderate", "activity_direction": "Expanding", "rotation_direction": "Weakening", "price_acceptance": 0.5 }, "latest_close": 66.5093, "trend_reference": 62.216116, "distance_from_trend": 0.069004, "trend_direction": "Improving", "fair_value": 48.844429, "distance_from_fair_value": 0.361656, "fair_value_direction": "Weakening", "relative_strength": -2.787478, "relative_strength_direction": "Improving", "price_momentum": 0.077368, "excess_performance": -0.110086, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.069004, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.034245, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.361656, "read": "Premium" }, { "label": "Fair Value direction", "positive": false, "value": -0.01385, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.027875, "read": "Lagging" }, { "label": "Relative strength direction", "positive": true, "value": 0.036441, "read": "Improving" }, { "label": "Price momentum", "positive": true, "value": 0.077368, "read": "Positive" }, { "label": "Volume balance", "positive": true, "value": 1.411041, "read": "Demand-led" } ], "volume": { "latest": 17996, "relative_activity": 0.887401, "balance": 1.411041, "dry_up": 0.639588, "accumulation_observations": 0, "distribution_observations": 1 }, "risk": { "range_context": 0.027375, "annualized_volatility": 0.166254, "from_high_reference": -0.0083, "from_low_reference": 0.267786 }, "levels": { "trend_reference": 62.216116, "fair_value_reference": 48.844429, "structural_low": 55.98, "invalidation": "A sustained 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63.5663, "volume": 10942, "typical_volume": 21781.2, "trend": 61.860775, "fair_value": 48.464138, "relative_strength": -1.844869, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 37.964356, "energy": 22.076036, "activity_lines": [ 63.803213, 64.146322, 63.586678, 62.71106 ] }, { "date": "2026-07-31", "close": 65.2678, "volume": 14228, "typical_volume": 20666.2, "trend": 62.031126, "fair_value": 48.649277, "relative_strength": 0.222953, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 52.466602, "energy": 30.9953, "activity_lines": [ 64.282673, 64.303848, 63.867091, 62.930868 ] }, { "date": "2026-08-07", "close": 66.5093, "volume": 17996, "typical_volume": 20279.45, "trend": 62.216116, "fair_value": 48.844429, "relative_strength": -2.787478, "stage": 2, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "up", "direction": 72.156705, "energy": 48.89605, "activity_lines": [ 65.06554, 64.673856, 64.229177, 63.219782 ] } ], "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." } } }