{ "ticker": { "uuid": "89bc042b-2340-4b28-9aa4-82aa0b59ef09", "symbol": "FDM", "name": "FIRST TRUST EXCHANGE TRADED FUND FIRST TR DOW JONES SELECT MICROCAP INDEX", "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": 2, "stage_name": "Advancing", "phase": "2b", "phase_label": "Stage 2B \u00b7 Advancing", "transition": "stage_2_healthy", "transition_label": "Stage 2 trend intact", "confidence": 96.0, "architecture_regime": "upward_expansion", "architecture_regime_label": "Upward Expansion", "architecture_modifier": "Re-accelerating", "architecture_gate": "up", "architecture_direction": 78.771, "architecture_energy": 56.88, "architecture_maturity": 33.766, "architecture_confidence": 69.435, "architecture_tenure": "Developing", "architecture": { "interpretation": { "headline": "The weekly architecture is expanding upward.", "body": "Trend and Activity show sustained positive alignment with constructive price acceptance. Directional energy remains positive; cooling within this regime can indicate that it is maturing." }, "scores": { "balance": 16.92, "rotation_up": 58.54, "upward_expansion": 78.89, "deceleration": 66.03, "rotation_down": 21.3, "downward_expansion": 7.89 }, "activity_lines": [ 92.55082, 91.924192, 90.118822, 88.591704 ], "activity_state": "Moderate", "activity_direction": "Contracting", "rotation_direction": "Weakening", "price_acceptance": 0.5 }, "latest_close": 94.9346, "trend_reference": 86.869423, "distance_from_trend": 0.092843, "trend_direction": "Improving", "fair_value": 68.277389, "distance_from_fair_value": 0.390425, "fair_value_direction": "Improving", "relative_strength": 3.021742, "relative_strength_direction": "Improving", "price_momentum": 0.092311, "excess_performance": -0.033314, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.092843, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.051042, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.390425, "read": "Premium" }, { "label": "Fair Value direction", "positive": true, "value": 0.045574, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": true, "value": 0.030217, "read": "Leading" }, { "label": "Relative strength direction", "positive": true, "value": 0.015966, "read": "Improving" }, { "label": "Price momentum", "positive": true, "value": 0.092311, "read": "Positive" }, { "label": "Volume balance", "positive": false, "value": 0.818441, "read": "Supply-led" } ], "volume": { "latest": 33071, "relative_activity": 0.730217, "balance": 0.818441, "dry_up": 1.05158, "accumulation_observations": 1, "distribution_observations": 2 }, "risk": { "range_context": 0.028849, "annualized_volatility": 0.16255, "from_high_reference": -0.008102, "from_low_reference": 0.349574 }, "levels": { "trend_reference": 86.869423, "fair_value_reference": 68.277389, "structural_low": 78.810264, 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"upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 61.323287, "energy": 60.857553, "activity_lines": [ 91.561693, 90.752032, 89.034261, 87.691793 ] }, { "date": "2026-07-31", "close": 91.44, "volume": 44051, "typical_volume": 45446.25, "trend": 86.42482, "fair_value": 68.031373, "relative_strength": 2.890223, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 59.160867, "energy": 47.450501, "activity_lines": [ 91.43854, 91.069621, 89.437528, 88.042686 ] }, { "date": "2026-08-07", "close": 94.9346, "volume": 33071, "typical_volume": 45289.25, "trend": 86.869423, "fair_value": 68.277389, "relative_strength": 3.021742, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 78.77136, "energy": 56.880277, "activity_lines": [ 92.55082, 91.924192, 90.118822, 88.591704 ] } ], "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." } } }