{
  "ticker": {
    "uuid": "8a1ae4dc-a2c9-48fc-af46-9c12bac999c4",
    "symbol": "USMF",
    "name": "WISDOMTREE U.S. MULTIFACTOR FUND",
    "exchange": "CBOE",
    "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": "3a",
    "phase_label": "Stage 3A \u00b7 Churning",
    "transition": "stage_3_churning",
    "transition_label": "Stage 3 range intact",
    "confidence": 57.242,
    "architecture_regime": "deceleration",
    "architecture_regime_label": "Deceleration",
    "architecture_modifier": "Recompressing",
    "architecture_gate": "up",
    "architecture_direction": 58.968,
    "architecture_energy": 31.786,
    "architecture_maturity": 29.768,
    "architecture_confidence": 47.613,
    "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": 35.61,
        "rotation_up": 37.75,
        "upward_expansion": 67.9,
        "deceleration": 71.77,
        "rotation_down": 25.67,
        "downward_expansion": 8.23
      },
      "activity_lines": [
        53.24442,
        53.210577,
        52.799443,
        52.259876
      ],
      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.333333
    },
    "latest_close": 53.84,
    "trend_reference": 51.733854,
    "distance_from_trend": 0.040711,
    "trend_direction": "Improving",
    "fair_value": 47.396574,
    "distance_from_fair_value": 0.135947,
    "fair_value_direction": "Improving",
    "relative_strength": -6.827986,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.044586,
    "excess_performance": -0.081038,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.040711,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.014024,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.135947,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.010561,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.06828,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.025555,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.044586,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.046457,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 142464,
      "relative_activity": 1.007316,
      "balance": 1.046457,
      "dry_up": 0.791526,
      "accumulation_observations": 3,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.026707,
      "annualized_volatility": 0.100304,
      "from_high_reference": -0.013412,
      "from_low_reference": 0.112282
    },
    "levels": {
      "trend_reference": 51.733854,
      "fair_value_reference": 47.396574,
      "structural_low": 48.405,
      "invalidation": "A decisive breakout above range resistance with renewed RS leadership invalidates the distribution reading; a range-low break confirms deterioration."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 7,
        "median_return": 0.026292,
        "positive_rate": 0.714286,
        "directional_follow_through": 0.714286,
        "median_excess_return": 0.003592,
        "regime_survival": 0.285714,
        "best_return": 0.0564,
        "worst_return": -0.023172,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 4,
        "median_return": 0.009424,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": 0.000789,
        "regime_survival": 0.0,
        "best_return": 0.054777,
        "worst_return": -0.08311,
        "sufficient": false
      },
      {
        "horizon": "Extended",
        "sample_count": 4,
        "median_return": 0.072662,
        "positive_rate": 1.0,
        "directional_follow_through": 1.0,
        "median_excess_return": -0.031925,
        "regime_survival": 0.0,
        "best_return": 0.154059,
        "worst_return": 0.010037,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 2,
        "median_return": 0.099422,
        "positive_rate": 1.0,
        "directional_follow_through": 1.0,
        "median_excess_return": -0.06124,
        "regime_survival": 0.0,
        "best_return": 0.104949,
        "worst_return": 0.093894,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-01-03",
        "end": "2025-02-07",
        "tenure": "Developing",
        "return": 0.032419,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-02-14",
        "end": "2025-03-07",
        "tenure": "New",
        "return": -0.024211,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-03-14",
        "end": "2025-03-28",
        "tenure": "New",
        "return": 0.00706,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2025-04-04",
        "end": "2025-04-11",
        "tenure": "New",
        "return": 0.026874,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-04-18",
        "end": "2025-05-16",
        "tenure": "Developing",
        "return": 0.091778,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-05-23",
        "end": "2025-06-06",
        "tenure": "New",
        "return": 0.015158,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
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        "end": "2025-07-11",
        "tenure": "Developing",
        "return": 0.004767,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-07-18",
        "end": "2025-10-31",
        "tenure": "Established",
        "return": 0.003491,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-11-07",
        "end": "2026-03-20",
        "tenure": "Established",
        "return": -0.023962,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2026-03-27",
        "end": "2026-04-17",
        "tenure": "New",
        "return": 0.056879,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2026-04-24",
        "end": "2026-05-08",
        "tenure": "New",
        "return": 0.017784,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
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        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "return": 0.003094,
        "active": false
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      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "return": 0.017096,
        "active": true
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        "typical_volume": 154598.4,
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        "fair_value": 45.754549,
        "relative_strength": -7.649228,
        "stage": 3,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
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        "energy": 17.452403,
        "activity_lines": [
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      },
      {
        "date": "2026-04-24",
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      },
      {
        "date": "2026-05-01",
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        "modifier": "Balance after decline",
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      },
      {
        "date": "2026-05-08",
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        "typical_volume": 156373.3,
        "trend": 50.862372,
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      },
      {
        "date": "2026-05-15",
        "close": 51.562061,
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        "typical_volume": 158111.2,
        "trend": 50.892189,
        "fair_value": 46.158375,
        "relative_strength": -9.672887,
        "stage": 3,
        "regime": "rotation_up",
        "modifier": "Structural repair",
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        "direction": 20.92534,
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        "activity_lines": [
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      },
      {
        "date": "2026-05-22",
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        "typical_volume": 138772.2,
        "trend": 50.943678,
        "fair_value": 46.270743,
        "relative_strength": -7.970526,
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        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "up",
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        "energy": 64.009001,
        "activity_lines": [
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      },
      {
        "date": "2026-05-29",
        "close": 52.690685,
        "volume": 58481,
        "typical_volume": 133985.05,
        "trend": 51.018398,
        "fair_value": 46.378713,
        "relative_strength": -9.089636,
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        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 71.911333,
        "energy": 70.240177,
        "activity_lines": [
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      },
      {
        "date": "2026-06-05",
        "close": 52.269756,
        "volume": 68604,
        "typical_volume": 132204.35,
        "trend": 51.08041,
        "fair_value": 46.481982,
        "relative_strength": -7.177749,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 61.94176,
        "energy": 64.473609,
        "activity_lines": [
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      },
      {
        "date": "2026-06-12",
        "close": 53.625341,
        "volume": 258940,
        "typical_volume": 124299.85,
        "trend": 51.186616,
        "fair_value": 46.590007,
        "relative_strength": -5.026389,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
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        "direction": 78.5232,
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        "activity_lines": [
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      },
      {
        "date": "2026-06-19",
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        "typical_volume": 128997.9,
        "trend": 51.313036,
        "fair_value": 46.703188,
        "relative_strength": -5.277294,
        "stage": 3,
        "regime": "upward_expansion",
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        "activity_lines": [
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      },
      {
        "date": "2026-06-26",
        "close": 53.1097,
        "volume": 97026,
        "typical_volume": 116410.55,
        "trend": 51.372929,
        "fair_value": 46.804323,
        "relative_strength": -4.002133,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 61.23133,
        "energy": 57.394226,
        "activity_lines": [
          53.260908,
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          51.629144
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      },
      {
        "date": "2026-07-03",
        "close": 52.8861,
        "volume": 626410,
        "typical_volume": 139975.45,
        "trend": 51.431987,
        "fair_value": 46.906066,
        "relative_strength": -6.155553,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 58.846775,
        "energy": 48.058741,
        "activity_lines": [
          53.188927,
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        ]
      },
      {
        "date": "2026-07-10",
        "close": 53.61,
        "volume": 95015,
        "typical_volume": 140841.4,
        "trend": 51.50854,
        "fair_value": 47.0085,
        "relative_strength": -5.916129,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 62.18345,
        "energy": 44.468614,
        "activity_lines": [
          53.345219,
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      },
      {
        "date": "2026-07-17",
        "close": 52.7776,
        "volume": 96296,
        "typical_volume": 140566.8,
        "trend": 51.556602,
        "fair_value": 47.101734,
        "relative_strength": -5.683987,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 53.894113,
        "energy": 34.46284,
        "activity_lines": [
          53.134695,
          53.098673,
          52.390031,
          51.94916
        ]
      },
      {
        "date": "2026-07-24",
        "close": 52.8537,
        "volume": 84258,
        "typical_volume": 138932.0,
        "trend": 51.594101,
        "fair_value": 47.196285,
        "relative_strength": -4.769049,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 41.276508,
        "energy": 26.956283,
        "activity_lines": [
          53.006053,
          53.087818,
          52.50323,
          52.032843
        ]
      },
      {
        "date": "2026-07-31",
        "close": 52.935,
        "volume": 124762,
        "typical_volume": 139561.7,
        "trend": 51.661902,
        "fair_value": 47.294072,
        "relative_strength": -5.412323,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 38.53697,
        "energy": 24.670697,
        "activity_lines": [
          52.96858,
          53.06826,
          52.615554,
          52.119353
        ]
      },
      {
        "date": "2026-08-07",
        "close": 53.84,
        "volume": 142464,
        "typical_volume": 141429.35,
        "trend": 51.733854,
        "fair_value": 47.396574,
        "relative_strength": -6.827986,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 58.96812,
        "energy": 31.786129,
        "activity_lines": [
          53.24442,
          53.210577,
          52.799443,
          52.259876
        ]
      }
    ],
    "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."
    }
  }
}